MONDAY 25TH FEBRUARY 2019 by THISDAY Newspapers Ltd

Report: Power Sector Lost N2.17bn, 73MW on Election Day Chineme Okafor in Abuja Nigeria’s power sector lost N2.17 billion and 73 megawatts of electricity last Saturday when the country held the presidential and National Assembly elections, a report by the Office of the Vice President, Prof. Yemi

Osinbajo, has disclosed The report showed that power supply to Nigerians on Saturday when citizens of the country went to polls to elect the country’s next president and National Assembly members dropped slightly by 73MW. The vice president’s office

also disclosed that within the period, the sector lost a whopping sum of N2.17 billion to sundry constraints which stopped it from attaining full production capacity. Obtained yesterday in Abuja, the data from the Advisory Power Team in Osinbajo’s

office, explained that on Friday, the eve of the presidential and parliamentary elections, the country generated 4,286MW and lost N1.635 billion to operational constraints. It said the generation figure for Friday was equally lower than that of the previous day

– Thursday, by 83MW. However on Saturday when the country went to the polls, it again dropped by 73MW and lost revenue worth N2.17 billion. The data linked the developments mostly to issues related to gas; transmission; distribution and water

management limitations. For instance, it said: “On February 23, 2019 (Election Day), average energy sent out was 4,213 MWH/Hour, down by 73.44 MWH/Hour from the previous day. The report further showed that Continued on page 12

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Anxiety Mounts as INEC Shifts Presidential Election Results Announcement to Today Opens collation centre, says tabulation ongoing nationwide Monitoring Rivers situation closely PDP, CUPP accuse APC of plotting alteration of results Ask Atiku be declared winner Claim outlandish, replies ruling party Onyebuchi Ezigbo, Adedayo Akinwale and Udora Orizu in Abuja The Independent National Electoral Commission (INEC) last night postponed the commencement of announcement of results of last Saturday’s presidential

election till this morning at 11, saying collation of results were still ongoing at the state level. The postponement was announced by the commission’s Chairman, Prof. Mahmood Yakubu, at the opening of its Continued on page 12

Upset in Kwara as Saraki Loses Seat Dogara leads in Bauchi Hammed Shittu in Ilorin and Yinka Kolawole in Osogbo The first major upset in last Saturday’s National Assembly election emerged yesterday with the defeat of the Senate President, Dr. Bukola Saraki, who contested on the platform of the Peoples Democratic Party (PDP),

by former majority leader in the state House of Assembly, Dr. Ibrahim Oloriegbe, of All Progressives Congress (APC). The Speaker of the House of Representatives, Hon. Yakubu Dogara, however, made it back to his seat as he prevailed in Bauchi State. Continued on page 45

Army Confirms Officer, Six KILLED ON ELECTION DUTY… Amachree, the INEC ad hoc staff and mother of two, who father says was killed in Rivers State by Soldiers during last Others Killed in Rivers ... Page 12 Ibisaki Saturday's Presidential/National Assembly elections

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Army Confirms Officer, Six Others Killed in Rivers Wike vows to seek justice for the dead US envoy calls for end to electoral violence

Kingsley Nwezeh in Abuja and Ernest Chinwo in Port Harcourt The Nigerian Army yesterday said it lost an officer to the election violence in Rivers State, adding that six other persons were shot dead during an ambush of troops by alleged assailants in Abonema, Akuku Toru LGA. The deaths, which occurred during last Saturday’s presidential and National Assembly elections in the state, have drawn the ire of the state Governor, Chief Nyesom Wike, who has vowed to seek justice for those killed. The United States ConsulGeneral to Nigeria, Mr. John Bray, has, however, called for an end to the violent conflicts in the state. The army, which denied

allegations that it planned to assassinate Wike, accused the governor of offering the GOC 6 Division, Nigerian Army, Maj. Gen. Jamil Sarham, millions of dollars in bribe, also charged the Chairman of Akuku Toru LGA, Mr. Rowland Sekibo, of masterminding the attack on troops. An army statement signed by its spokesman, Col. Sagir Musa, said: “The pre-planned attack occurred in between Charles and Bob-Manuel’s compounds in Abonema Town about 1.00 pm on February 23, 2019" "The attackers barricaded a major road into the town and laid an ambush in the adjoining built-up areas from where they opened fire on our unsuspecting troops when they attempted to remove the barricade. "The gallant troops fought their way through the siege

and in the process killed six of the assailants. However, we lost a lieutenant and two soldiers were wounded in the encounter. "Preliminary investigation indicated that one Roland Sekibo, - the Chairman, Akuku Toru LGA, Omodo; the CSO Akuku Toru LGA and Kenneth Kula, currently at large, were the masterminds of the unexpected and unprovoked attack. "To this end, the Nigerian Army strongly hereby states that perpetrators of this ambush will be made to face the full wrath of the law.” Meanwhile, the army in another statement, accused Wike of making offers of millions of dollars in bribe to which Sarham rejected, maintaining that his assassination claim was unsubstantiated. It said: "Some of his rancorous

claims were that the General Officer Commanding (GOC) 6 Division, Maj. Gen. Jamil Sarham, purportedly sent troops to cordon off his residence prior to the rescheduled general elections on February 15, 2019. “The governor further went on to allege an assassination attempt on his life, which he claimed was orchestrated by the GOC 6 Division. "The Nigerian Army is appalled that a governor who should epitomise leadership and good example in all senses could descend so low to employ smear campaign against the person of a GOC whose only responsibility amongst other things is about the safety and security of lives and property in his area of responsibility." But responding to the allegations, the Special Assistant to Wike on Electronic Media,

Mr. Simeon Nwakaudu, said they were not only false, but a diversionary tactic to exonerate the GOC and his men from the atrocities they committed in the state. Nwakaudu stressed that by his actions, Sarham showed that he has no respect for human lives, democracy and the rule of law. He added that the lies are aimed at enabling them to hatch more false allegations to justify their killing of innocent people of the state in the next elections. “In the coming days, the GOC and other criminal elements will hatch more false allegations to justify their unpatriotic killing of innocent Rivers people for the political advantage of their sponsors,” he said. Meanwhile, the United States Consul-General to Nigeria, Mr.

John Bray, has called for an end to violence in the state. Addressing journalists at the Government House, Port Harcourt yesterday after a meeting with Wike, the diplomat decried the violence that greeted the polls in some parts of the state. The American envoy told journalists: "I am here as an international observer. We have been watching elections in Rivers State. "I am not here to grade elections or anything like that. I am just here to say that there has been enough violence. "Enough people have died. I am here today to speak with all the different candidates and party leaders." Also addressing journalists later in Port Harcourt, Wike declared that the state Continued on page 45

ANXIETY MOUNTS AS INEC SHIFTS PRESIDENTIAL ELECTION RESULTS ANNOUNCEMENT TO TODAY National Collation Centre in Abuja. The postponement heightened anxiety over the delay in the release of the results of the elections, including that of the National Assembly contest, which outcomes state resident electoral commissioners began to make public piecemeal last night. Already the opposition parties, led by the Peoples Democratic Party (PDP) and its ally, the Coalition of United Political Parties (CUPP), have started raising eyebrows over INEC’s slow pace of release of results. In fact, both of them have called on the electoral body to release the presidential elections results without further delay, claiming that their candidate, Alhaji Atiku Abubakar, had by their reckoning, won the contest. Specifically, CUPP alleged yesterday that the Federal Capital Territory (FCT) office of INEC was working on alteration of the outcome of the presidential election in federal capital, saying the plan was to help President Muhammadu Buhari’s All Progressives Congress (APC) score the mandatory quarter of the votes cast. Atiku, it said, delivered a comprehensive defeat to Buhari in the nation’s seat of government. But the ruling party responded last night that the main opposition party’s claim was outlandish and warned that the nation would be thrown into crisis. The INEC chairman, who addressed stakeholders last night, laid down the procedures for the collation and announcement of results, explaining that while the National Assembly elections results would be announced

at the senatorial and federal constituencies at the state levels, the state collation officers are expected to announce the presidential results at the state INEC offices and proceed to file them with the National Collation Center Secretariat in Abuja for final announcement by the INEC chairman, who is the returning officer for the contest. He spelt out the guidelines and the code of conduct for representatives of the political parties at the centre. He, however, said none of the result was available in Abuja, forcing the INEC boss to adjourn till 11a.m. today. He said that results were still being expected from all the states of the federation, adding that after collation at the state INEC offices, results must be accompanied by state Resident Electoral Commissioners (RECs) and security agents to the collation centre in Abuja. As at the time of filling this report, the commission said some state collation officers for presidential election were on their way to Abuja. Earlier while addressing a press conference the chairman of INEC said that the commission was happy with the general peaceful and patriotic conduct of citizens in Saturday’s elections, saying Nigerians had demonstrated extra-ordinary resilience and abiding faith in democracy and the electoral process. The electoral body reiterated its commitment to protecting the sanctity of the ballot and the integrity of the choices made by Nigerians at the polls. Yakubu stated that the commission met late Saturday night to review the processes and challenges arising from the conduct of the elections based

on reports received from the state offices nationwide as well as information harvested from its various citizens’ contact platforms. The chairman said that the commission acknowledged that there were places where personnel and materials did not arrive on time, resulting in delays in opening of polls, but noted that the commission responded by extending the voting period to compensate for the initial loss of time. He added that reports indicated that many citizens who would have otherwise been disenfranchised had the opportunity to vote. The chairman also noted that in spite of the INEC's best effort to enhance the functionality of the Smart Card Readers (SCRs), it experienced technical malfunctions in some locations, stressing that through the deployment of 8,809 Area Technical Support (RATECHS) engaged by the commission as ad hoc, many of these glitches were successfully rectified, which enabled voting to take place seamlessly in the affected PUs nationwide. The chairman said that in areas where violence was recorded in some states, and where the commission was unable to conduct a legitimate election, it would be re-conducted in the affected areas. Yakubu also revealed that one of the commission’s Electoral Officers (EOs) had been handed over to the police for alleged electoral infractions. He stressed: “For our part, all election duty personnel have sworn an oath of neutrality. We have reports of possible dereliction of duty by some electoral officials in refusing to activate or deploy the SCRs, the failure to fully account for materials collected

for the election, absconding from duty and a host of other infractions. “In Imo State, one of our EOs has already been handed over to the Police. We will not tolerate violations against, or by, our own officials. The duty of upholding the choice made by Nigerians in democratic elections must never be compromised.’’ Yakubu said that INEC was also aware of incidence of intimidation, abduction, hostage-taking and violence unleashed on election officials in some states like Akwa Ibom and the burning of a vehicle conveying materials used for Saturday’s election in Dekina Local Government Area of Kogi. “Some Youth Corps members serving as ad hoc staff were also attacked in Osun,’’ he said, disclosing that the commission received reports of voters who presented genuine PVCs read by the SCRs but were not allowed to vote because their names were not on voter register. According to him, “We have been confronted by such a situation in one of the off-season elections conducted by the Commission. For this reason, we made a clear provision in our draft Regulations and Guidelines to allow such voters to vote. “However, when the draft was discussed with stakeholders, the clause was rejected on the grounds that it will encourage voting by identity theft. We dropped it,” he said. The chairman also disclosed that the commission’s attention had also been drawn to the omission of the logo of the African Action Congress (AAC) from the ballot paper for Lagos East senatorial district. “We have checked our

record and confirmed the inadvertent omission. We have contacted the Chairman of the party to acknowledge the error. The omission is inadvertent and it is one out of 23,316 nominations for elections into 1,558 constituencies,” he said. Asked on his view about performance of the security agencies, Yakubu said it was not yet the right time to assess the performance of any institution involved in the election. He said that he was not aware of cancellation of election result in the FCT, or anybody forcing his way to collation centre to change election result in Rivers.

PDP, CUPP Accuse APC of Plotting Alteration of Results

Meanwhile, the PDP yesterday accused Buhari and the APC of planning to alter the result of the presidential election. The party in a statement by its National Publicity Secretary, Mr. Kola Ologbondiyan, said that intelligence available to the party showed that INEC was delaying the announcement of results following directives by the Buhari Presidency and APC, who are bent on altering the figures, from the polling centres and allocate fictitious figures for Buhari, particularly in northern states. He stated, “Curiously, INEC server is now shut down, results are no more being transmitted and the reason is to enable the APC to inflate figures from six designated states. “We already have reports of how APC governors in the northern states have been making desperate effort to tamper with the results of the elections in their respective states with the view to award

REPORT: POWER SECTOR LOST N2.17BN, 73MW ON ELECTION DAY 2,408.21MW was not generated due to unavailability of gas.” According to the report, “440MW was not generated due to unavailability of transmission infrastructure, while 1,521.60MW was not generated due to high frequency resulting from unavailability of distribution infrastructure.” It further stated: “150MW was recorded as losses due to water management. The

power sector lost an estimated N2,170,000,000 on February 23, 2019 due to insufficient gas supply, distribution infrastructure and transmission infrastructure. The dominant constraint on February 23, 2019 was due to unavailability of gas - constraining a total of 2,408.21MW from being available on the grid,” the report explained. The operational records noted

that on the same day, the sector achieved a peak generation of 4,712MW. In comparison, it explained that: “On February 22, 2019 (eve of the election), average energy sent out was 4,286 MWH/Hour (down by 83 MWH/Hour from the previous day). 2,240.50MW was not generated due to unavailability of gas. 311.70MW was not generated due to unavailability of transmission

infrastructure, while 703.70MW was not generated due to high frequency resulting from unavailability of distribution infrastructure. “150MW was recorded as losses due to water management. The power sector lost an estimated N1,635,000,000 on February 22, 2019 due to insufficient gas supply, distribution infrastructure and transmission infrastructure. The

dominant constraint on February 22, 2019 was due to unavailability of gas - constraining a total of 2,240.50MW from being available on the grid. Peak generation attained on February 22, 2019 - 5,036MW.” According to the records, estimated amount the sector has lost so far in 2019 to insufficient gas supply; distribution; transmission and water reserves constraints was N76.076 billion.

conjured votes to President Buhari. “In Kogi State, Governor Yahaya Bello has been making frantic moves to change results to suit APC’s intent and purposes as against the wishes of the people, expressly delivered at the polls.” The main opposition party, therefore, called on international observers and election monitors to insist on a transparent process of transmission of results and the monitoring thereof. Ologbondiyan said that the Minister of Transportation and the Director-General of the Buhari Campaign, Mr. Rotimi Amaechi, used the military to hold an INEC official in River State, Mrs. Mary Efeturi, hostage and insisted that she would not be released until she alters the results in favour of Buhari The PDP called on INEC chairman to note that in this age of Information Communication Technology, Nigerians already have the results as delivered at the polling centres and any attempt to alter any figure will be faced with vehement resistance. “In delaying the announcement of the results, Continued on page 45

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COMMENT

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

ELECTIONS AND CHALLENGE OF LOGISTICS AND SECURITY Nigeria is not there yet, writes Moshood Isah

â€œ

These were not the elections Nigerians wanted; they were not the elections Nigerians expected; and, most importantly, they were not the elections Nigerians deserved. Our election commission must improve its capacity to deliver credible elections and our political parties must play according to the rules. Failure to do so could fundamentally threaten our democracyâ€?. These are the words of the YIAGA AFRICAâ€™s Watching the Vote Board Chairman at a press conference on the preliminary findings from the 2019 Presidential and National Assembly elections. Nigerians continue to ask the questions on when an election can be conducted with a 100 per cent early deployment of materials and zero per cent violence as delays in logistics deployment along with the perennial electoral disruptions reportedly featured in Saturdayâ€™s Presidential and National assembly elections. Having been postponed for one week due to logistic reasons, expectations from the Independent National Electoral Commission (INEC) and security agencies were upped with the believe that everything must have been fixed before the new date. Delay in deployment of election materials and issues relating to ballot box snatching, attack on polling officials, disruption of election materials seem to remain in constant competition for prominence in virtually every major election in Nigeria. The hydra-headed issues bedeviling Nigeriaâ€™s elections always feature even after all stakeholders declare their readiness to ensure the elections are hitch-free. This leaves several questions regarding the competency of agencies responsible for ensuring peaceful and credible elections in the country. For instance, credible elections data released by arguably the largest movement committed to credible elections, YIAGA AFRICA says as at 12pm on Election Day, at least 110 critical incidents across the country primarily concerning late arrival of election materials to polling units. While electoral officials are expected to be at polling units by 7.30am so that set-up can commence ahead of the 8am commencement of simultaneous accreditation and voting, statistical reports by YIAGA AFRICAâ€™s #WatchingTheVote observers reported that INEC officials arrived at only 31% of polling units as at 7.30am. Furthermore, statistical reports say as at 10:00 am, only 41% of polling units had opened across the country while even as at close to 12pm in the afternoon, INEC has not achieved 100 per cent logistics deployment as statistics say 74% of polling units had opened nationally. This is even trying to overlook the seven percent polling units where YIAGA AFRICA reported that the card reader was not used for accreditation either due

OUR ELECTION COMMISSION MUST IMPROVE ITS CAPACITY TO DELIVER CREDIBLE ELECTIONS AND OUR POLITICAL PARTIES MUST PLAY ACCORDING TO THE RULES

to lack of availability or deliberate violation of the electoral guidelines. In this vein, elections went into the nights in a handful of polling units with apparently no proper preparation for logistics for a conducive environment which leaves the credibility of the process in jeopardy. In addition to logistics challenges is the security issue which has marred Nigeriaâ€™s elections overtime. Report has it that at least 90% of polling units recorded presence of security personnel which in itself is not a complete standard when it comes to conducting credible elections as it is expected that security agents will be seen at all close to 120,000 polling units across the country. But despite the presence of security checkpoints across the country, reports of political thugs moving in motorcycles in Lagos disrupting the process at will leaves a lot to be desired. A lot of questions are being asked on how political thugs accessed polling units, collation centers and registration area centers to either cart away ballot box, destroy election materials and assaulting voters and election materials. Verified reports from media and election observers show that citizens, observers or election officials were harassed, beaten, intimidated or even killed in some states across Nigeria. More so, at the risk of propagating unverified reports, social media footages of injured citizens and burning of electoral materials remain a real cause of security concerns. It is difficult to understand if security officials deployed at polling units gave way for hoodlums to execute their heinous plans or this was done with the support of security officials as alleged at some quarters. While it remains surprising that the Police Inspector General, Muhammed Adamu confidently reiterated the force readiness to protect every life especially during this period, Nigerians are yet to see major arrests of these electoral offenders. Recommendations are not always far-fetched but its implementation to the later remains a major challenge the nation has faced overtime. Election and security analysts have called for comprehensive framework for the prosecution of electoral offenders in the country. Unfortunately, just as Nigerians have hardly seen arrest of electoral offenders, it becomes impossible to prosecute them. Thus if heads do not role and people in the position of authority do not account for the happenings in their jurisdictions, then the vicious circle of logistics and security issues will continue to feature in every electoral process. Isah is the Media OfďŹ cer of YIAGA AFRICA

DEVALUATION AND IMPORTATION OF GOODS

Devaluation as policy thrust causes macroeconomic instability and runaway inflationary, argues Boniface Chizea

fter Presidential aspirant Atiku Abubakar announced on the campaign trail that he was going to float the Naira and considering the position he occupies as a strong contender for the Presidency of Nigeria, I thought it was our duty not to sit on the fence and keep quiet despite what we know regarding the deleterious consequences for such a policy thrust. It was better to shout out and be at peace with oneâ€™s conscience even if nobody listened. I have since then written a paper which was well considered and was generously published in which I canvassed a position which advised against such a policy thrust as such experimentations, in my humble opinion contributed in no small measure to the lackluster performance of the Nigerian economy. Not long after that I watched an interview granted by Mustafa Chike-Obi on Arise Television where he was introduced as Economic Adviser to the Presidential hopeful Atiku Abubakar during which he expounded his views, which as himself admits are radical on the policy thrusts for giving the economy a shot in the arm and I was able to connect the dots to conclude that the position taken by Atiku Abubakar regarding floating the Naira must have been sold to him by this gentleman. Some of the content of this interview would form the kernel of this paper. I since did an enquiry on Chike-Obiâ€™s background and found out that like myself he read Mathematics at the University of Lagos with a First Class degree and later attended Stanford University for a Master in Business Administration whilst I had my Doctorate in Business Administration from Manchester Business School in England. It would therefore appear that we cut our teeth in Economics as part of the mandatory foundational studies for our tertiary qualifications in related disciplines. What really concentrated my attention to do this paper was a recent interview which Mustafa

Chike-Obi granted during which he canvassed the view that a policy of weaker value currency could be pursued as a strategy to discourage the unbridled appetite of our citizens for importation. Well for me that was a novel position. I have been in this business since early/mid 80s. Yes it is correct to observe that one of the collateral consequences for having a weak currency is that it discourages marginal propensity to import but I have never heard it propounded as a major objective of such a strategy. Usually what one hears is that relatively weaker currency is a strategy for growing market share at the international market and sometimes for addressing balance of trade issues between countries with bilateral relations. And one of the reasons which made some economists to oppose currency devaluation in Nigeria is that we do not have the capacity to optimize this opportunity since foreign exchange earnings in excess of 80 per cent is from oil whose quantity and price are fixed for Nigeria by OPEC. And since despite best efforts we have not been able to diversify the economic base of the country; not for want of trying but probably due to lack of determined and focused implementation. What devaluation as policy thrust or even as a fall out of policy measure has done experientially in Nigeria is to cause macroeconomic instability, precipitate runaway inflationary spiral, result in loss of productivity and jobs and worsen the misery index in the country since such importations are not amenable to be discouraged by mere increase in costs as they are structural. We cannot also in one breadth be talking of floating the currency which to all intents and purposes amounts to leaving the determination of the exchange rate of the Naira to market forces even as there is hardly any market for the dollar in the country! How do we define as a market a situation where there is only one dominant supplier; the Central Bank with multiple almost insatiable demands from economic agents? But

in the context of floating currency it is illogical to still be talking of devaluation. In such a situation the most appropriate term for loss in value is depreciation. Devaluation only arises as managed loss in value of currency in a fixed exchange rate environment. During the interview with Arise Television under reference Chike-Obi did indicate as part of the discussions on the recommendation to float the Naira that one of the first steps an Atiku Abubakar administration would take will be to jettison the official window at N305 to the dollar as he rightly observed and we agree that it is ill informed to have two values for a currency in any economy as it encourages rent seeking behaviour and fosters other distortions. But this again is not in my opinion something to terminate the following day upon assumption of office. The recommended approach will be to be cautious and deliberate. And also there is the need for a word of caution here. We must constantly bear in mind that monetary policy comes under the strict purview of the Central Bank which enjoys instrument autonomy therefore no attempt must be made to dictate to the bank. Therefore such a decision must be left for the sole consideration of the Governor of the Central Bank and it might not be right to tempt the President not to respect this autonomy. In fact the President should be receiving on going briefing from the Governor of the Central Bank during which he must insist to be carried along and thereafter he must resist the temptation to dabble into such matters in the public. This is one reason why most international commentators query the independence of Central Banks in developing countries of the world. Chike â€“Obi also observed during this interview that there must be in place a policy template to grow the economy by at least 10 per cent for a number of years going forward as anything less would not cut the ice particularly as we are all concerned about the burgeoning statistic of the

unemployed not minding the under employed. Growth is the only antidote; the only panacea for reducing unemployment and giving a boost to the quality of life of the citizenry, the raison deâ€™tre of good governance. When asked how he was going to achieve that level of growth he intoned by adopting expansionary policy measures. Well as often heard; talk is cheap! Besides the inflationary consequences of expansionary policy, there is something like the absorptive capacity of the economy to be taken into account. There is a limit to the amount of cash you inject into the economy beyond which it would amount to throwing money at the problem which barely has any positive effect. In this connection there are policy guidelines to contend with such as the Fiscal Responsibility Act which clearly stipulates a maximum deficit of not more than three per cent of GDP as a result of the fears we have expressed herein. What is more in recent memory even in the best of times we have not been able to manage growth in excess of six to seven per cent. And with the latest figure in this respect at 2.38 per cent, it is most unrealistic to expect that anyone is going to formulate any policy measures which would grow the rebased GDP by 10 per cent certainly not in the foreseeable future. It is commendable to be upfront with intentions on such policy measures. This is the preferred approach to ventilate and to get inputs which no doubt would enrich policy and ensure that we downgrade considerably experimentation which has honestly been the bane of rapid growth and development of this economy. We have a collective interest for economic conditions to improve radically and very soon but we must not inadvertently permit measures that we know would delay us as there must be a consensus that we are in a hurry to grow this economy and catalyze development. Dr. Chizea wrote from Lagos

T H I S D AY MONDAY, FEBRUARY 25, 2019

EDITORIAL The Menace Of Killer Vegetable Oil The regulatory agencies could do more in spreading awareness about the product

n recent weeks, the Nigerian Heart Foundation (NHF) and National Agency for Food and Drug Control (NAFDAC) have been raising the alarm over the rate at which some unidentified, unhygienic and unapproved vegetable oil now enters Nigerian markets. Ordinarily, vegetable oil boosts a rich source of high energy to the body while some variants contain materials that act like vitamins. But when contaminated, they are disastrous to health and responsible for some of the diseases like heart problems, stroke, obesity and cancer that have become prevalent in our country today. Admonishing Nigerians “to cook only with oil that has undergone rigorous test by scientists when buying them,” a former President of NHF, Prof. Oladipupo Akinkugbe, said the high cholesterol in many sources of oil has been a major risk factor for heart diseases among people of all ages. The Minister of Health, Prof. Isaac Adewole has also lamented the outrageous number of lives that have been lost to heart-related diseases, majorly caused by poor diet. According to Adewole, RELEVANT Nigeria loses 150,000 GOVERNMENT persons annually to heart-related diseases INSTITUTIONS AND such as coronary artery STAKEHOLDERS diseases, cardiomegaly, WITHIN THE CIVIL heart attack, irregular SOCIETY MUST HELP TO heart rhythm, high ARREST THE SPREAD blood pressure and OF UNHEALTHY many others. Sadly, the minister also hinted COOKING OIL THAT that the figure was IS THREATENING THE to increase to HEALTH OF OUR PEOPLE expected 23 million by the year 2030, if emergency steps were not taken. Although, vegetable oil is one of the products on the import prohibition list of the federal government, the Nigeria Customs Service said it was able to seize 2163 kegs of 25 litres and 64 kegs of five litres of vegetable oil between January and August 2018. In a recent documentary, NAFDAC revealed how its enforcement unit once intercepted

a truck labelled petroleum products, with PENGASSAN tag, conveying vegetable oil that ended up in the market for consumption. More shocking in the video is the exposed deals of deceitful and killer traders who go as far as diluting animal fat with vegetable oil, to increase its volume and amass more wealth, not minding the consequences of their actions. There are also reports that many of the products in the markets were actually recycled from other countries and illegally dumped in Nigeria.

S 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

everal medical studies have proved that chronic diseases have root in poor nutrition hence, it is most common that hospital patients are advised to watch their dietary intake first before any other health tips. Conventional wisdom teaches that the kitchen is the best hospital while food is the best medicine. Unfortunately, this is one area Nigerians treat with huge levity, mostly on the excuse of poor economic conditions, busy schedule and ignorance. According to food science experts, 200,000 people die annually as a result of food poisoning in Nigeria. These deaths arise from contaminated foods through improper processing and preservation. Since the market is flooded with different kinds of cooking oil, it is difficult to differentiate between the genuine and healthy one and those that pose health hazards. But NAFDAC and NHF have made it easier for Nigerians through their identification strategies like certification marks, numbers, etc. The challenge is that most of those who buy in the markets do not check for these important information. Going forward, relevant government institutions and critical stakeholders within the civil society must help to arrest the spread of unhealthy cooking oil that is threatening the health of our people. There must be strict vigilance, awareness creation and proactive enforcement of the laws on foods, food safety and best international manufacturing practices by the regulatory agencies and industries including cottage /small scale industries and blending plants. It would also do the country good to back up the activities of NHF and regulatory bodies on its stance on quality and healthy cooking oil.

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FALLOUT OF THE FEBRUARY ELECTIONS

he much-anticipated date for 2019 election finally came into being on 23rd February as against the initially scheduled date. From my end, everything went peacefully as usual under the sun and in the rain. I must commend the incumbent government for making sure the biometric technologies and other materials were to an extent “functional” compared to the experience of 2015. In the same vein, the design of the electoral process to vote directly after the identification of one’s number increases and encourages voters’ turnout. However, the experience of the ad-hoc staff (especially the corps members) on Saturday 16th February 2019 was rather disgraceful; an inhumane act to the core. The welfare package needs to be raised especially for the night before the supposed election to give the ad-hoc staff the much-needed physical, mental and emotional balance to coordinate the election. A case where corps member would be sleeping during the election would not have occurred if they had a good night. Let me say, emphatically that we are not there yet but we are getting better against all odds. For proper representation during the election period, adequate personnel need to be readily screened and deployed to ease off the electorate’s stress. This would, therefore, limit the cases of those fainting under a queue. In fact, let me ask: what do we need a queue for? If it is to exercise our civic right, I think that is not encouraging at this age of ours. I also long for a time where we will finally get it right on

all grounds, election inclusive. This time, the election would be carried out just as we see in the developed nations, where the electorate are left to decide their future by voting. On the contrary, what had been with us for a while and what holds now is the act and sharp practices of influencing voters with cash and other materials; foods, clothes. This is, therefore, glaring where the electorate would have to show the party agent the party voted for just to receive a stipend. At the extreme, party agents will keep moving up and down to monitor the electorate activities. All these acts are indeed shameful. Besides, I want to strongly believe that conducting a free and fair election is achievable in Nigeria if and only if there is the political backing of the incumbent government. I must also commend former President Goodluck Jonathan for his conduct in the year 2015 and his reaction to the defeat. Indeed, he remains a rare gem. There is a crucial need for political will to achieve free and fair election without having to buy votes after spending a fortune on campaigns. Also, there is the need to have an adequate number of ad-hoc staff and also provide enough election materials (card readers, ballot boxes, stamps…) to reduce stress for voters and also quicken the whole process. Also, welfare package of INEC ad-hoc staff needs to be addressed and above all the postponement of election without a minimum of two weeks’ notice should be abolished henceforth. Obileye, Abolaji Adewale, Ogun State

NNPC AS REPOSITORY FOR RICH KIDS

ver here in my school, the Federal University of Technology, Minna, a repressed indignant din just reluctantly subsided after the non-academic staff unions were paid their long-overdue hazard allowances. It was “long overdue” because members of these unions knew that the principal negotiator with the federal government, who is a technical staff over here but is the national president of the key non-academic union benefiting from payment of hazard allowances, was duly “settled” by the Presidency to scuttle agitations by members from embarking on strike for all of last year so as not to colour the government bad. This “settlement” was an assured employment for his daughter at the Nigerian National Petroleum Corporation (NNPC), that non-efficient and lumbering government “fat cow” parastatal; that young lady was your typical Nigerian graduate of biochemistry who would have slugged it out with others through the NYSC process and the job-search process. Thus, now, the NNPC is the repository for rich kids and those who can count on their familial privilege to get connected for plush job openings. The NNPC that should be competing with Mobil, Total, Shell, Agip-ENI, is a haven for nepotism and cronyism. What, now, to do with it? Privatisation of the NNPC in the best way to go. Sunday Adole Jonah, Department of Physics Federal University of Technology, Minna Niger Stat

5 ) * 4 % ": t MONDAY, FEBRUARY 25, 2019

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POLITICS

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

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

Marred by Glitches and Violence Nseobong Okon-Ekong, Vanessa Obioha and Ojo Maduekwe, write that the rescheduled and highly anticipated 2019 presidential and national assembly election held on Saturday, February 23 was marred by technical glitches, malpractice and violence

Election disrupted in Okota

Ballot snatching

hen Google experienced a glitch that caused the Nigerian Naira to trade at 184 per US dollar few hours before the presidential election, a clairvoyant would have interpreted it as a sign the election would be marred by glitches and violence; and would have been right. The 2019 presidential and national assembly election held across the country on Saturday, February 23, was marred by

technical glitches, malpractice and violence in states like Lagos, Rivers, Bayelsa, Borno, Yobe, Kogi, Ebonyi, and Zamfara, that resulted in 16 deaths. At a press briefing, a coalition of over 70 Civil Society Organisations (CSOs), under the auspices of the Nigeria Civil Society Situation Room, that chronicled the deaths also expressed concern over incidences of smart card readers failure in some polling units. Aside the South-east and South-south recording the lowest number of early poll

openings at about 27 percent and 21 percent respectively at 10am, states where card reader challenge was prevalent include, Imo, Lagos, Ogun, Abia, Nasarawa, Kebbi, FCT and Kaduna. Before the elections started, there had been reports of election related violence according to a report by analysts at the SBM Intelligence. According to SBM, there were about 233 deaths in 67 incidents of election-related violence from last October to Friday, February 22, 2019. â€œSituation Room received reports of

several instances of smart card reader failure which necessitated INEC officials resorting to manual accreditation,â€? according to Barrister Clement Nwankwo, who briefed newsmen on behalf of the civil society coalition. In Lagos eyewitness accounts said suspected thugs belonging to the ruling All Progressives Congress (APC) disrupted voting in areas considered strongholds of opposition Peoples Democratic Party (PDP), like Okota, Isolo, Oshodi, Alaba and Ajegunle.

â€˜PDP Wants The Presidency so Badlyâ€™ Mallam Lanre Issa-Onilu, spokesman of the All Progressives Congress accuses its main opponent of making an arbitrary call to name its candidate winner of the presidential election The press statement dated February 24, 2019 by the Peoples Democratic Party (PDP) is an unwarranted strike against democracy and the people of Nigeria.

Issa-Onilu

QUICK FACTS: r5IF FMFDUJPO IFME BDSPTT UIF DXBT NBSSFE CZ technical glitches, malpractice and violence in states like Lagos, Rivers, Bayelsa, Borno, Yobe, Kogi, Ebonyi, and Zamfara, that resulted in 16 deaths r5IFSF XFSF XJEFTQSFBE DPODFSO PWFS JODJdences of smart card readers failure in some polling units r4PVUI FBTU BOE 4PVUI TPVUI SFDPSEFE UIF lowest number of early poll openings at about 27 percent and 21 percent respectively

The PDP in that press statement, recklessly calls on the Independent National Electoral Commission (INEC) to arbitrarily name its candidate, Alh. Atiku Abubakar the winner of the presidential election. This call is shameful and alarming. Unwilling to wait for INEC the constituted legal authority to complete its task, the PDP seeks a short cut by false and premature claims of victory. This cannot stand. Our nation is trying to perfect its democracy, not turn it into a mockery. Sadly, this objective is lost to the PDP. The PDPâ€™s guiding principle is distilled to the following; because they want something, then they should get it. What they use to guide themselves actually blinds them instead. Because they want the presidency so badly that they have engaged in all manner of misconduct and spared little cost to achieve their aim, they now

believe that they are entitled to claim victory notwithstanding the vote and will of the people. But this is not the way of democracy. Democracy means the people choose for themselves not that the PDP chooses for them. That may have been the way in the past when they engineered and kidnapped elections to achieve their desired end notwithstanding the true will of the people. Thankfully, those days are gone and gone forever. These elections are supposed to be democratic exercises not a platform for the PDP to impose their selfish designs on a hopeful nation. The PDP should honour and follow the sovereign will and sober dignity of the Nigerian people. The people patiently waited the additional week for Election Day to come. The vast majority of people again exercised patience as they peacefully voted on Election Day. Unfortunately,

isolated incidents of violence took place. We are deeply saddened by the violence and disruption that did occur. Nigerians died yesterday and that should never have happened and should never happen again during an election of any kind in our land. Their deaths are needless tragedies that mar what was otherwise a celebration of our maturing democracy. Instead of the discordant and provocative statement it released, the PDP should be appealing for peace and for INEC to diligently and thoroughly perform the vital task assigned it. Curiously, the majority of violent incidents and reports of electoral malpractice emanate from states which the PDP controls. It appears the PDP just cannot break from their old ways.

r4UBUFT XIFSF DBSE SFBEFS DIBMMFOHF XBT QSFWBlent include, Imo, Lagos, Ogun, Abia, Nasarawa, Kebbi, FCT and Kaduna r"DDPSEJOH UP 4#. *OUFMMJHFODF UIFSF XFSF about 233 deaths in 67 incidents of election-related from last October to Friday, February 22, 2019 r5IF 0LPUB JODJEFOU UPPL BO FUIOJD DPMPVSBUJPO with both the Oodua Peoples Congress (OPC) and Pan Yoruba organisation, Afenifere, denouncing the ballot box snatchers while appealing for calm r7PUF TOBUDIJOH BTJEF UIFSF XBT BMTP UIF JTTVF of vote buying in states like Lagos, Niger, Edo, Kwara, Kano and KatsinaKatsina

r5IF NPTU NBSSFE QPMMJOH VOJUT XJUI FMFDUPSBM violence was in the South-south states of Rivers and Bayelsa r*O B SFMBUFE JODJEFOU JO UIF PJM TUBUF PG #BZFMTB armed men in military uniform killed Reginald Dei, a Government House phphotographer rÂ‰0OF TBE JODJEFOU UIBU DPVME IBWF CFFO BWPJEFE were there to be adequate security across the polling units was a case of a killing of an INEC adhoc staff, Ibisaki Amachree r5IFSF XFSF JOTUBODFT XIFSF FMFDUJPOT DPVME not hold at the stipulated time, like the case of the electoral officials assigned to four wards of

Bakassi Local Government Area of Cross River State who couldnâ€™t get to the area after being stranded at sea for about 10 hours r5IF QPMM UIBU XBT SFTDIFEVMFE UP IPME PO Saturday February 23, was marred by logistical lapses, such that on Sunday February 24 when INEC said it would begin national collation of the results to announce the winners, the commission had to move it till 11am today r5IF JNQBDU PG */&$ T MPHJTUJDBM MBQTFT NFBOU that there were reported cases of late opening of polling units in several parts of the country, with the average opening time being 45 percent as at 10

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MONDAY DISCOURSE

Voters waiting to vote

INEC oďŹƒcials during the election

In Okota, the thugs were said to have arrived on motorbikes before the voting started threatening anyone who voted against the APC and then later caught on video destroying thumb printed ballot papers, and in one instance alleged to have set electoral materials on fire. The Okota incident took an ethnic colouration, with both the Oodua Peoples Congress (OPC) and Pan Yoruba organisation, Afenifere, denouncing the ballot box snatchers while appealing for calm. News report had it that between 10am and 11am, thugs belonging to the APC â€œbegun arriving and from one polling unit to the other, burning ballot papers and ordering voters, most of whom were of Igbo extraction to leave the polling units or face â€˜deportation.â€™â€? In a press statement signed by the OPC publicity secretary, Mr. Yinka Oguntimehin, the mastermind of the Okota incident, a certain Ademola, was not a member of the OPC, but a thug. Reaffirming the groupâ€™s commitment to democracy, Oguntimehin said his faction of the OPC, â€œIs a group of professionals, and well educated members. We have our structure across the country, and everybody can attest to the fact that the Aare Gani Adams-led members of the OPC are not vagabonds or thugs.â€? Suing for peace amongst Nigerians during the election, the OPC scribe said, â€œFor a very long time now, we have transited into a brand new OPC, with a clear-cut ideology. And part of our ideologies is to ensure peace, across the country, most especially, in the south west.â€? In the same vein, the Afenifere spokesperson, Yinka Odumakin, in a statement, while decrying the incident in â€œstrongest termsâ€?, described the Okota violence as barbaric and unfortunate. Odumakin said, â€œDirty political merchants and their band of thugs apart from engineering political disenfranchisement of the Igbo, went ahead to visit violence on them and burning their votes en-masse.â€? Lending support to the OPC, Mr Odu-

makin said, â€œOur checks with the genuine leaders of the group (OPC) have shown that the deranged elements had no affiliation with the OPC known by Afenifere.â€? The Pan Yoruba group went ahead to â€œfrown seriously at the failure of the security agencies to give adequate cover to Ndigbo in the affected communities as these thugs went berserk carrying out the instructions of their sinking political godfathers.â€? Vote snatching aside, there was also the issue of vote buying in states like Lagos, Niger, Edo, Kwara, Kano and Katsina; an incident that saw a thinly-spread security personnel turn a blind eye. The most marred polling units with electoral violence was in the South-south states of Rivers and Bayelsa. In the Andoni area of Rivers state, unknown gunmen shot dead a former local government leader and his brother, according to state police spokesman, Nnamdi Omoni. Both were said to be members of the APC. According to Omoni, there was also an incident of hoodlums, dressed in military uniforms, invading some polling units in the Okrika area of the state, snatching voting materials. He told pressmen that the police had moved in to restore order, and that INEC was making efforts to ensure voters were not disenfranchised in the area. In a related incident in the oil state of Bayelsa, armed men in military uniform killed Reginald Dei, a Government House photographer, and Seidougha Taribi, the Ward Chairman of the PDP in the Southern Ijaw Local Government Area of Bayelsa State. Highlighting the inadequacy of security personnel at some polling unit, the coalition said, â€œIn some polling units there was only one police officer while in others, in addition to the prescribed three per polling unit, there were other security personnel totalling up to 10â€?. One sad incident that could have been avoided were there to be adequate security across the polling units was a case of a killing of an INEC adhoc staff, Ibisaki

Amachree. Amachreeâ€™s father, in a heartfelt tribute titled, â€˜We are counting our lossesâ€™, said the postgraduate degree holder and mother of two, â€œfull of cheer, love and kindnessâ€?, was shot dead by a trigger happy and jittery soldier while she was on a national assignment with INEC. The bereaved father while lamenting the sad death of his daughter, said, â€œI have never arranged for the death of any youth. I hate violence and thuggery. If law enforcement agents have to kill an enemy, should it be my responsible and peaceful daughter? It is well. Only God knows why it happened. He will surely repay the wicked.â€? There were instances where elections could not hold at the stipulated time, like the case of the electoral officials assigned to four wards of Bakassi Local Government Area of Cross River State who couldnâ€™t get to the area after being stranded at sea for about 10 hours. It took the intervention of the Navy Command who sent a rescue team to the officials later in the evening for them to get to the polling units. Due to the hiccup, voters in the area were unable to vote, and as at the time of writing this article, the electoral officials were still waiting for instructions from INEC Abuja on when to hold the polls. The poll that was rescheduled to hold on Saturday February 23, was marred by logistical lapses, such that on Sunday February 24 when INEC said it would begin national collation of the results to announce the winners, the commission had to move it till 11am today. The impact of INECâ€™s logistical lapses meant that there were reported cases of late opening of polling units in several parts of the country, with the average opening time being 45 percent as at 10 am. This meant late arrival of materials and ad hoc staff, and accounting for much of the delay in polls opening across the country. As expected the glitches and violence did not go without both the APC and

PDP trading blames. The PDPâ€?s candidate, Atiku Abubakar, while thanking Nigerians for their â€œmassive supportâ€?, said he was â€œfamiliar with how brazen and the complete lack of shame the APC can exhibit, but even I was shocked to witness just how low they went last night by accusing the PDP of â€˜recruiting armed thugsâ€™ to do just that.â€? In the statement by his Special Assistant On Public Communication, Phrank Shaibu, Atiku said the PDP had a â€œhigh tech, cloud-based SVC system which is able to collate in real-time the results from the 119,973 voting units across the nationâ€?, and so â€œthe Presidential candidate could boldly assure his supporters that victory was at hand.â€? Falling short of declaring himself the winner, Atiku said, â€œWith strong shares of vote in SS, SE as well as an increased share in SW and NC we are very pleased with the progress the PDP has made. We look forward to sharing some exciting news in other parts of the country very soon, which will confound all the armchair pundits.â€? The PDP presidential candidate went ahead to charge Nigerians â€œOn the need to maximise their eternal vigilance in the next 48 hours to prevent the majority votes recorded at the polling units being disrupted by force by the APC at the collation centres.â€? In a counter statement, the APC National Publicity Secretary, Mallam Lanre IssaOnilu, described Atikuâ€™s statement as, â€œA provocative insult to democracy and to Nigeriaâ€?, saying it was â€œAn unwarranted strike against democracy and the people of Nigeria.â€? According to Mr Issa-Onilu, the PDPâ€™s â€œrecklessâ€? call on INEC to â€œarbitrarily name its candidate, Alh. Atiku Abubakar the winner of the presidential electionâ€? was â€œshameful and alarming.â€? Mr Issa-Onilu said the PDP, unwilling to wait for INEC the constituted legal authority to complete its task, â€œseeks a short cut by false and premature claims of victory. This cannot stand.â€?

â€˜APC is Brazen, Lacks Shameâ€™ Mr. Phrank Shaibu, Special Assistant On Public Communication to Presidential candidate of the Peoples Democratic Party and former Vice President Atiku Abubakar says his party is shocked at the antics of the APC to hold on to power With the PDPâ€™s high tech, cloud-based Simultaneous Vote Counting system which is able to collate in real-time the results from the 119,973 voting units across the nation - the Presidential candidate could boldly assure his supporters that victory was at hand. â€œWith strong shares of vote in SS, SE as well as an increased share in SW and NC we are very pleased with the progress the PDP has made. We look forward to sharing some exciting news in other parts of the country very soon, which will confound all the armchair pundits. The people of Nigeria can take solace that very soon the living nightmare of

the last four years will come to an end so that together we will get Nigeria working again.â€? The PDP Presidential candidate urged Nigerians on the need to maximise their eternal vigilance in the next 48 hours to prevent the majority votes recorded at the polling units being disrupted by force by the APC at the collation centres. â€œI am familiar with how brazen and the complete lack of shame the APC can exhibit, but even I was shocked to witness just how low they went last night by accusing the PDP of â€˜recruiting armed thugsâ€™ to do just that. Why would we want to do that when we are winning?â€?

â€œFurthermore I would like to say how proud I was of PDP supporters who conducted themselves so peacefully despite the significant provocations and threats of violence, removal and burning of ballot boxes and the likes.â€? We thank the security forces and election officials who in the main conducted their duties with exemplary professionalism but tasked General Buhari on his promise of a free and fair election. â€œGeneral Buhari you have promised our people and the world that you would conduct â€˜free, fair and credible electionsâ€™ so please call off the wilder elements within your party and deliver on your promise.â€?

Shaibu

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FEATURES

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

Resilience in the Face of Danger

Tossed right in the heart of Boko Haramâ€™s battle against western education, the University of Maiduguri has perhaps overcome attempts to bring it on its knees, which would have meant victory for the terrorists. From the eyes of old and present students, Chineme Okafor, writes on how the citadel of learning has lived through the menace and is still standing tall

With pride, the front gate of University of Maiduguri stands colourful

hen it was obvious Boko Haram had come to disrupt Maiduguriâ€™s cosmopolitan lifestyle, which could extend to the University of Maiduguri (UNIMAID), students perhaps had two choices â€“ to continue with their studies, or suspend it until it was okay to get back to school. Christiana John, was one of such students who chose to go on to complete her studies and got a degree in business administration. 10 years later, she came back to Maiduguri as an aide worker helping people affected by the Boko Haramâ€™s war of terror in the state to regain their lives. She told THISDAY she was glad she didnâ€™t take the route of suspending her studies even though her sister and mother suggested that, and was there when the paper visited two young male students â€“ Emmanuel Ebere, 21 years and a level four engineering student of UNIMAID; and John Joseph, also 21 who is in his second year of studies in mechanical engineering in the same university. Emmanuel and John, had agreed to share their thoughts about choosing to stay back in school to complete their studies despite the Boko Haram assaults. In fact, Christiana, picked them out for the visit, assuring the paper they would speak honestly about their experience. â€œWhen I was in school, their (Boko Haram) target was not the school, they were interested in the communities, and I lived in one of the communities â€“ Meruguet, it was not far from Kalari, which was where we heard or experienced the first battles between Boko Haram and the Nigerian Army,â€? said Christiana. Maybe an afterthought, Christianaâ€™s decision to tell THISDAY her story after she heard that of Emmanuel and John, both current students of Unimaid, provided a recollection of how old students of the institutions handled the new situation which threatened their lives and studies. â€œI woke up from a bang one night. I couldnâ€™t make out where it came from, and was confused,â€? Christiana, whose family is from neighbouring Adamawa State explained before adding that she subsequently found out the blast occurred in Kalari,

and not Meriguet where she lived. The fight that night didnâ€™t get to Meriguet, but then, â€œno one was actually safe,â€? she told the paper, and added: â€œWe lived in fear most of the time I studied in Maiduguri.â€? According to Christiana, unlike the accounts of Emmanuel and John, there was no record of attempt on UNIMAID by Boko Haram when she was there as a student, rather, university students struggled with an urban city that quickly transformed into a combat zone and thus regulated their laissez-faire lifestyles. â€œWe passed through checkpoints and got thoroughly searched frequently by the military. It could be embarrassing for ladies especially, besides, the military was very hostile then,â€? she said with a nostalgic expression on her face.

I couldnâ€™t drop out of school because I had gone far when the insurgency started. Most times you had exams to write and then a bomb blast went off, you still had to write the exam. My mother and sister visited, and advised that I suspend my studies, but I couldnâ€™t because I had gone far. I continued and didnâ€™t have any issues with my grade

Photos: Mohammed Ciroma She told the paper that despite repeated battles between the army and Boko Haram, and the associated danger, she did not stop taking lectures and examinations. Defiantly, she explained that the school also remained open all through for studies, perhaps to buttress its firm commitment to what Boko Haram stood against, and which she wanted. She told of when her mother and sister visited to be sure she was safe considering that telecoms network had been cut off in Maiduguri, and she turned down their suggestion that she should suspend her studies and go home with them. â€œI couldnâ€™t drop out of school because I had gone far when the insurgency started. Most times you had exams to write and then a bomb blast went off, you still had to write the exam. â€œMy mother and sister visited, and advised that I suspend my studies, but I couldnâ€™t because I had gone far. I continued and didnâ€™t have any issues with my grades,â€? she stated. Failed attempts Assisted by the PAGED Initiative, which works with journalists to tell stories of marginalised groups in Nigeria, THISDAYâ€™s chat with Emmanuel and John, indicated they had a different story about their time in school and Boko Haram, to that of Christiana who graduated before attempts on the school stepped up. Sitting on a multi-coloured motif patterned mat made of plastic and laid out in a wide car garage attached to a three-bedroom bungalow, an interesting conversation on Boko Haramâ€™s failed attacks on UNIMAID ensued between the paper and these students. As was told by Emmanuel, the low-cost bungalow built in an expansive residential area called Alkali Imam Estate had been home his family for years. Enormously wide, the plastic mat covered most of the garage from where Emmanuel had moved his motherâ€™s Toyota car away for the conversation to take place. Occasionally, the subtle harmattan wind would blow in tads of dusts on the mat or even clothes of people sitting on it, reminding that it was its time

of the year, but this didnâ€™t stop the conversation which had become very spirited when a question about how UNIMAID had cope came up. â€œThat we are still up, for them to try more than once to penetrate the school is a show of our resilience. I am really proud but not 100 per cent secured. I think after driving past our school, the next major town would be Bama, and we hear of what goes down there, yet we have remained impenetrable,â€? Emmanuel said. Continuing, he stated: â€œI remember a time (3am) I was coming back from class with a female friend and a bomb exploded from a distance, around â€˜beautyâ€™â€Śthat night no one slept in the school, we were not used to it.â€? Emmanuel said he, â€˜grew up in Maiduguri, and have been here all my life.â€™ According to him, until 2009 when Boko Haram became full-fledged, civil conflicts in Maiduguri were usually minor. He however got admitted to study in UNIMAID in 2014, and by 2015, he had witnessed a couple of failed attempts by the terrorist to in continuation of their anti-west campaign, run down and take over the school. â€œWe were here one Sunday evening when we started hearing gun shots and after that, it made movement as a guy very difficult. You donâ€™t even have to be of age, once you are of this height (making a hand gesture to indicate the height), you will be picked because the military personnel were frustrated with the situation. â€œPeople found at suspicious places were sometimes picked up and taken away, if you make it back to your families, fine, if not, that is it,â€? he explained. He added: â€œWe started having bomb blasts in the school, and school became uninteresting. Everyone suspected anyone in funny clothes to school. Attending classes became difficult because danger seemed to lurk around so much. You probably didnâ€™t know who you could run into or how it could end. Reading became a lot difficult and I had to leave the hostel to move back home.â€? In addition to the 3am bomb blast he once witnessed, Emmanuel, said there were other failed attempt, one of which a lecturer was killed. â€œDuring exams in my second year, we had

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FEATURES a bomb blast, and we didnâ€™t have the exams because the school was shut down. We had a lecturer involved, one male lecturer, I think. â€œAfter that, we hardly joined queues and no offense, students became too afraid of ladies in hijab. It really got that bad,â€? he explained. Continuing with the 3am incident which was the closest he had ever come to such failed attempts, he said: â€œI was seeing her off to the hostel, and while we were walking, I noticed flashes of torchlight from the security men on campusâ€ŚI waited a while to observe what was going on, and boom, the bomb went off.â€? He said: â€œI ran first, but ran back after I realised I had with me a lady. We were lucky to have escaped the impact of the blast. If something like that happened, you canâ€™t just run away because you may run into a deeper danger.â€? He stated he has been lucky not to have lost a friend or classmate so far, but observed the situation has also changed completely for students, especially social life which is widely associated with university communities. â€œIn this school, you donâ€™t go where you donâ€™t really need to go. You donâ€™t stay out late or do stupid things. Just stay conscious. â€œNow, we have to get up early enough if you have early morning lectures to be sure you donâ€™t run late after you go through all the checks. Before, we werenâ€™t that conscious with time,â€? Emmanuel added. Emmanuel spoke proudly about UNIMAIDâ€™s resistance to the campaigns of the terror group, saying, â€œEven now, we still see a lot of students apply to study here â€“ I think the medical college of the university is the best in the North-east, and people still want to get the best. We still have constant electricity, from 6pm to 6am, and then from 11am to 4pm.â€? In agreement with Emmanuel, John who also lived with relations in the same estate said: â€œWhen I decided to apply for admission, it wasnâ€™t really easy, but my friends told me the standards had not dropped.â€? â€œI had elder siblings that graduated from here and they know how good the school is. They wished me well and supported me to be here. During my admission, we had like 9000 students that were admitted out of the 28,000 that applied for different course of studies,â€? he explained. Now in his second year of studies, he said his experience of Boko Haramâ€™s failed attempts on the school was remote, but he understood the implications and the schoolâ€™s spirited resistance. â€œMy experience is different. I saw a nearpenetration of the campus by Boko Haram in 2017 â€“ it was my first year and second semester on campus. â€œWe were going back to the hostel at about 11.30am after our morning reading, and then gunshots from within a distance started off. The security guys made us run fast into our hostels for safety,â€? John stated. He said he understood the need to go through multiple checkpoints to get to school, adding: â€œIn a criminal situation everyone is a suspect.â€? â€œStudents were allowed to come in with cars before now, but not anymore. Even backpacks are often not allowed except on rare situations like medical students who have go for clinical studies.â€?

We started having bomb blasts in the school, and school became uninteresting. Everyone suspected anyone in funny clothes to school. Attending classes became difďŹ cult because danger seemed to lurk around so much. You probably didnâ€™t know who you could run into or how it could end. Reading became a lot difďŹ cult and I had to leave the hostel to move back home

Faculty buildings are still intact

Classrooms

Even new buildings spring up in Unimaid

IMAGES

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Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ Ă”Ă‹Ă–Ă‹ Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—

L-R: ADP candidate Ogbomoso North,South and Orire federal constituency,Captain Jacob Ajao, ADP Candidate, State Assembly Ogbomoso North,Local Government, Wumi Oladeji; Onikoyi of Ikoyi Ile ,Oba Abdulyekeen Ayinla Oladipupo iv; Action Democratc Party (ADP) governorship candidate,Otunba Christopher Adebayo Alao-Akala and ADP Candidate, State Assembly Orire Local Government, Isaac Aremu durin Akalaâ€™s campaign trail to Ikoyi Ile, Oyo State...recently

Senior Special Assistant to the President on Diaspora, Hon Abike Dabiri-Erewa[left],aknowledgng cheers from the beneďŹ ciaries of Federal Government Micro Enterprise Enhancement loan facilitated by her, during the disbursement, at Ikorodu,Lagos â€Ś..recently PHOTO: KOLA OLASUPO

L-R: BeneďŹ ciary Mrs Dogo Edafe Bawa of Business Education, another beneďŹ ciary, Ojutiku Toluwanimi Oluwaseun of Economics Department, Globacom Regional Manager,Lagos/Ogun, Mr. Olufolahan Faseyitan, another beneďŹ ciary, Olusoji Ifejesu Precious of Accounting Department, another beneďŹ ciary, Anifowose Airat Morolake of Computer Science department and Head Devices and Terminals,Huawei, Frank Dong at the Glo/ Huawei presentation of smartphones to 1st Class students and routers held at Babcock University, Ilishan, Ogun State...recently

Oyo State Chairman of the Action Democratic Party, Chief Folaranmi Owolabi (left), announcing his defection to the All Progressives Congress with more than 10,000 others members, at the ruling partyâ€™s state secretariat, Oke-Ado, Ibadan..recently

L-R; Secretary of the conference, Methodist Church Nigeria, Bishop MIchael Oluwasegun Akinwale; Archbishop of Lagos, His grace Most Revd. Dr. Isaac Ayobami Olawuyi; Prelate, his Eminence Dr. Samuel Chukwuemeka Kanu Uche; Conference lay President, Sir Barrister Folu Aremu KJW; Lay President Archdiocese of Lagos, Sir Peter Olorunfemi KJW and Lay President Diocese of Lagos, Sir Gbolahan Olayomi at presentation and enthronement of Archbishop of Lagos, Lay President Arch diocese of Lagos and the Lay President diocese of Lagos at Wesley Cathedral Olowogbowo, Lagos...recently

L-R: Chief Executive OďŹƒcer, Blaugrana Sports International, Mr. Lesile Oghomienor; Chief Executive OďŹƒcer, Corona Schools Trust Council, Mrs. Adedoyin Adesina; Coordinative and Physical Conditioning Coach, Barca Academy, Lagos, Alberto Lafuente and Director of Education, Corona Schools Trust Council, Mrs. Amelia Dafeta, during Barca Academy Media Conference in Lagos...recently

Chief Executive OďŹƒcer, TVC Communications, Andrew Hanlon[right] and Director of News, TVC News, Stella DinJacob at the launch of hitech news studio by the broadcasting company in Lagos...recently Photo: Abiodun Ajala

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

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Quick Takes VIMN Africa Hosts Industry Experts

CLOSING GONG CEREMONY

L â€“ R: First National Vice President, National Association of Microfinance Bank (NAMB), Mr. Yusuf Gyallesu; Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema; National President, NAMB, Mr. Rogers Nwoke and Second National Vice President, Joshua Ukute, during a closing gong ceremony on the NSE in Lagosâ€Śrecently

Report: Fintechs, Game Changer for Nigeria, Others The untapped benefits in financial technology companies (fintechs) can help create jobs and increase the productivity of both workers and firms in Nigeria and other countries in Africa, a new report has stated. The report titled: â€œFinTech in Sub-Saharan African Countries : A Game Changer?,â€? authored by Amadou N Sy, and published by the International Monetary Fund (IMF), noted that fintechs could be the critical stepping stone towards a digital economy for Africaâ€”a continent where most countries are still overly dependent on a few dominant sectors. It stressed that fintechsâ€”if exploited wellâ€”could yet prove key to structural transformation in the continent. It noted that the use of mobile money has grown exponentially over the past 10 years, making the region the global leader in mobile money innovation, adoption,

ECONOMY and usage. Mobile money accounts now surpass bank accounts in the region and greater financial inclusion has benefited large swathes of the population, it stated. â€œWhile access to traditional banking services remains almost a mirage for most Africans, the near-universal availability of mobile phones has allowed millions to access mobile money services. â€œMobile money accounts now surpass bank accounts in the region and greater financial inclusion has benefited large swathes of the population that remain unbanked including the poor, the young, and women,â€? it added. It showed that sub-Saharan Africa remains the only region in the world where close to 10 per cent of GDP in transactions occur through mobile money.

This compares with just seven per cent of GDP in Asia and less than two percent of GDP in other regions. Most African users now rely on mobile payments to send and receive money domestically. Increasingly, they are taking advantage of new services to also send and receive money internationally. In addition, they use mobile money to pay their bills, receive their wages, and pay for goods and services. Innovation is allowing Africans to move up the â€œfinancial services value chain.â€? â€œFrom mobile payments, customers in sub-Saharan Africa are gaining access to mobile banking and other services as they open saving accounts, take out loans, purchase insurance, and invest in Government securities or in stock markets with a few touches of their mobile phone. â€œThey can even â€˜borrowâ€™ electricity and pay

later instead of sitting in the dark. New innovations in fintechs are proceeding rapidly. New technologies are being developed and implemented on the continent, and they have the potential to yield significant benefits for Africa. â€œRecognising this, foreign investors have stepped up their backing for African fintech firms, while those firms develop solutions adapted to the region, for example, to cater for the relatively lower internet speed in some areas. â€œThe falling price of smartphones will also help the region reap the rewards of internet-based solutions,â€? it stated. Continuing, the report added: â€œIn our new paper, we suggest that the challenge now is for the continent to leverage this success in mobile money. It needs to transition to other Continued on page 24

CBN Injects Fresh 268.4m, CNY 46.3m into FX Market Nume Ekeghe The Central Bank of Nigeria (CBN) at the weekend made an intervention of $268.4 million in the retail Secondary Market Intervention Sales (SMIS) and CNY 46.3million in the spot and short-tenored forwards segment of the inter-bank foreign market (FX). This was disclosed by the Director, Corporate Communications Department, Central Bank of Nigeria, Isaac Okorafor, who revealed that the intervention was for requests in the agricultural and raw materials sectors. The Chinese Yuan, on the other hand, was for Renminbi denominated Letters of Credit. Okorafor, in a statement, further expressed satisfac-

ECONOMY tion over the stability in the foreign exchange market which according to him, was largely due to sustained intervention by the Bank. He assured that the Bank would remain committed to ensuring that all sectors of the FX market continue to enjoy access to the needed FX. Meanwhile, $1 exchanged for N360 at the Bureau de Change (BDC) segment of the foreign exchange market, while CNY1 exchanged at N54. Aggregate FX inflow through the CBN had amounted to US$14.51 billion in the fourth quarter of 2018, and indicated 12.3 per cent and 1.3 per cent increase over the levels in

the preceding quarter and the corresponding period of 2017, respectively. The increase reflected the rise in both oil and non-oil receipts, including proceeds from government debts, TSA, third party receipts, interest on reserves and investments, unutilised funds from foreign exchange transactions, unutilised IMTO funds and other official receipts. But aggregate outflow through the CBN, fell to US$14.60 billion, from US$16.94 billion in the fourth quarter of 2018, but increased above the US$8.38 billion recorded in the corresponding period of 2017. The decline in outflow relative to the preceding quarter, reflected the fall in inter-bank utilisation, external

debt service, forex special payment and SDR charges. Overall, a net outflow of US$0.09 billion was recorded through the Bank, compared with US$4.02 billion in the preceding quarter and a net inflow of US$5.94 billion in the corresponding period of 2017, respectively. Aggregate foreign exchange inflow into the economy amounted to US$27.64 billion at end-December 2018, indicating an increase of 2.8 per cent and 7.1 per cent, above the levels in the preceding quarter and the corresponding period of 2017, respectively. The development was as a result of the 12.3 per cent increase in inflow through

Viacom International Media Networks Africa (VIMN Africa) has hosted a panel session featuring Nigeriaâ€™s top entertainment industry experts, with the theme: â€˜Music, Content and Consumer Experiences Changing the African Narrative.â€™ The event which took place recently, was hosted by MTVBase VJ, Folu Storms, with a keynote address from VIMN Africaâ€™s country manager, Bada Akintunde â€“ Johnson. Speaking on the inspiration behind the theme of the panel, Akintunde â€“ Johnson, said promoters of Viacom International Media Networks Africa are particularly keen on sharing the African story to the world. He added: â€œWe feel very strongly about starting conversations and actions that move us closer and closer to the realities we all desire. Itâ€™s the reason we have themed this session â€“ Music, Content & Consumer Experiences, Changing The African Narrative,â€? In corroboration with the sentiments expressed in Badaâ€™s address, a PR practitioner, Ayeni Adekunle, used the panel as an opportunity to thank Viacom for upgrading the quality of music content in Nigeria. Adekunle reminded the audience of MTV Baseâ€™s impact on Nigerian music videos. â€œBefore MTV Baseâ€™s launch in Nigeria, most music videos were of low quality. With the arrival of MTV Base, also came a standard that artistes had to meet before their videos could be shown on the platform. MTVBaseplayedasigniďŹ cantpartindrawingtheattentionofNigerians to what is possible, as well as opened a whole new vista of opportunity for Nigerian music to the rest of Africa in particular and the world in general.â€? SpeakingonthecomedysceneinNigeria,BrightOkpocha(Basketmouth) appreciated the eďŹ€orts of Comedy Central, a property of Viacom, in creating a platform not only for traditional stand-up comedians but also trendy one-minute skit comedians..

Star Parleys Lagos Community

Football fans from various quarters in Lagos were recently ushered into a world of football at Ago Palace, Okota as Manchester City faced oďŹ€ Chelsea at the Etihad Stadium in the Premier Leagueâ€™s most intense clash of the weekend.The Star Euro Club experience held simultaneously in Lagos, Benin and Owerri and each venue housed hundreds of football fans as they cheered their favourite teams to victory. The event commenced with various fun games that entertained the expectant fans ahead of the matches, with many of the guests rewarded with Star branded gifts and prizes after participating in football quizzes and games. Fans at the premium viewing centres were treated to a supply of cold beer, snacks and leisure games to play, in an atmosphere of fun, celebration and much delight. The elegant crowd also engaged in football banter and conversations, whilst cheering on their favourite teams and players who were in action on the night. In a match that required Manchester City to defeat their opponent from the west side of London in order to maintain their lead at the summit of the EPL, The Manchester club came out of the blocks with attacking vigor, probing Chelseaâ€™s half of the pitch.

â€œ33â€? Export Fetes Customers

As part of its eďŹ€orts to foster bonds amongst consumers, â€œ33â€? Export, from the stable of Nigerian Breweries, celebrated Valentineâ€™s Day in a unique way, bringing its consumers together with its connect experiences. According to the promoters of the brand, â€œ33â€? Connect is a new experiential platform that brings people together to celebrate shared interestsandmomentsinaconvivialenvironment.Theplatformtransforms everyday beer parlor occasions to the most exciting and unforgettable experiences for all guests. The ďŹ rst of these experiences was themed the Valentine Mingle and held simultaneously on Valentineâ€™s day in Uyo and Lagos. The two cities played host to hundreds of guests eager to participate in the thrilling games on display. In line with the theme of the event, couples were treated to exciting games that tested how well they know each other. Imagine the look on one ladyâ€™s face when she realized her husbandâ€™s favorite color is blue and not black! Aso Rock International Bar, Ikotun hosted the experience in Lagos while Pyramid Bar and Grill played host to the experience in Uyo. Both events dominated social media conversations as everyone was excited to capture great moments and share their experiences online.

â€œSo we must diversify the economy into other areas so that we can earn foreign exchange from other sources outside the oil sector. Another way of making money is to look at the tax structureâ€?

Former DG, WAIFEM

Prof. Akpan Ekpo Continued on page 24

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BUSINESSWORLD REPORT: FINTECHS, GAME CHANGER FOR NIGERIA, OTHERS

fintech services and a digital economy. â€œGreater digital inclusion and innovation will not only spur economic growth but a growth that comes with new jobsâ€”the number one preoccupation on a continent that will see more than half the worldâ€™s population growth by 2050. â€œAfrica is well positioned to meet its fintech and digital challenges, and with the right policies in place, it could reap a â€œdigital dividend.â€? But first, policymakers need to address the existing large infrastructure gap in the region, starting with electricity and internet services. â€œSecondly, Africa will need to balance the perennial demands of fast-moving innovation against the slower pace of regulation. Good regulation is needed but stifling innovation would be costly.â€? CBN INJECTS FRESH 268.4M, CNY 46.3M INTO FX MARKET

the Central Bank of Nigeria. Oil sector receipts, which accounted for US$3.02 billion, indicated a decrease of 14.5 per cent below the level at the end of preceding quarter but an increase of 9.2 per cent above the level at the end of the corresponding period of 2017. Non-oil public sector inflow, at US$11.49 billion (41.6 per cent of the total), rose by 22.5 per cent above the level at the end of the third quarter of 2018, but declined by 0.6 per cent, below the level in the corresponding period of 2017. Autonomous inflow, at US$13.13 billion, fell by 6.1 per cent and 14.8 per cent below the levels at the end of the preceding quarter and the corresponding period of 2017, respectively Inflow from autonomous sources accounted for 47.5 per cent of the total. At US$15.54 billion, aggregate foreign exchange outflow from the economy fell by 12.7 per cent below the level in the preceding quarter, but was 69.0 per cent higher than the level in the corresponding period of 2017.

NEWS

AfDB Begins Electricity Cooperative Feasibility Studies in Nigeria, Ethiopia Peter Uzoho The African Development Bank (AfDB) has kicked off a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia. The effort is part of the Bankâ€™s goal of achieving universal electricity access across Africa by 2025, having realised that power shortages diminishes the regionâ€™s Gross Domestic Product (GDP) growth between two to four per cent per year, holding back job creation and poverty reduction efforts. The study, funded by the South-South Cooperation Trust Fund, would be conducted by the National Rural Electric Cooperative Association (NRECA) International over three months and NRECA would consider regulatory, legal, technical and socio-economic factors that impacts the creation of electric cooperatives in the two nations. Electricity cooperatives are tax-exempt businesses set up and owned by the consumers who benefit from the services provided in generation, transmission and/or distribution. They are used in many parts of the world to provide last mile connections to rural areas through grid extensions and cooperative enterprises, and where successful, they also improve rural electrification,

while creating sustainable businesses. The Director, Power System Development, AfDB, Batchi Baldeh, was quoted to have said at the kick-off meeting that the study aligned with the Bankâ€™s New Deal for Energy in Africa. â€œThis study is timely and aligned with the Bankâ€™s New Deal for Energy in Africa.

We look forward to working with NRECA International to execute the study, and to leverage its extensive experience in electricity cooperative business models to pave the way for the implementation of transformational projects across Africaâ€? Baldeh said. He stated that the cooperatives rely on strong partnerships among governments,

rural/local communities and development partners for implementation and success. He also said: â€œWe selected Nigeria and Ethiopia following dialogue with their respective ministers of energy during the Bankâ€™s Africaâ€™s Energy Market Place held in July 2018, where they expressed their governmentsâ€™ commitment to improve rural access through established

models. â€œWe rely on this cooperation to explore this innovative model of delivering our High 5 to light up and power Africa.â€? Baldeh, added that the findings of the study would be delivered in May this year, assuring that they would inform the viability of plans to pilot the model in the selected countries.

BUSINESS PARTNERSHIP

L-R: Sales Director, North and East Africa, Vocalcom, Mohamed Aouadi; Managing Director, BCX Nigeria / West Africa, Ayo Adegboye; Global President /Chief Executive Officer, Vocalcom, Carlos Costanzia and Vice President / Chief Operating Officer, Alexandre Oddos, at an agreement signing ceremony between BCX and Vocalcom in Paris... recently

FG Harps on New Digital Identity Ecosystem Emma Okonji The federal government has reiterated the importance of the newly launched Digital Identity Ecosystem programme, insisting that it will help facilitate the collection of citizensâ€™ biometric data nationwide within the shortest time possible. The Director-General of the National Identity Management Commission (NIMC), the agency charged with the mandate to manage the national identity database in Nigeria, Aliyu Aziz, gave the explanation in Abuja recently, during a reform seminar organised by the Bureau of Public Service Reforms (BPSR).

â€œThe purpose of the ecosystem approach is to leverage existing capabilities and enrolment facilities of government agencies, partners and private sector organisations in Nigeria, as opposed to building new ones,â€? Aziz explained. This, he said would involve coordinated efforts of all enrolment partners, including all government agencies involved in biometric data collection as well as partners and companies in the private sector to be licensed by NIMC. In his presentation titled â€œReinventing Nigeriaâ€™s Digital Identity Ecosystem,â€? Aziz said with the approval by the Federal Executive Council of the

National Roadmap on Identity Development in Nigeria, the NIMC Regulations 2017, ISO Certified and upgraded backend in place, â€œitâ€™s now time to commence the implementation of the mandatory usage of the National Identification Number (NIN).â€? The new digital identity ecosystem is a federal government-led initiative to collect biometric data nationwide in one-go by leveraging existing ecosystem of all government agencies including federal, state, local governments and the private sector. Aziz, said the ecosystem approach of enrolment would constitute â€œtrusted partners,â€?

and a â€œpay-per-play modelâ€? to facilitate successful enrolments and fast-track the process nationwide. â€œNIMC will facilitate collecting of identity data (biometric and demographic data) by also ensuring that partners collect data and are paid per successful enrolment. NIMC stores data and uses same to offer a Unique ID to the citizens and legal residents,â€? he said. Emphasising the importance of the digital identity ecosystem, Aziz said: â€œAs the federal government agenda, we are all enjoined to work together as one Government (though many agencies) to achieve the ID objectives and bequeath a

sustainable and credible system of identity to our nation and generations to come.â€? According to him, â€œThere is a strong correlation between identification and reforms, both are central in realising effective delivery of important government services to the people.â€? With the effective commencement on January 1, 2019, of the mandatory usage of the NIN, all persons must, according to Section 27 of the NIMC Act 2007, present their NIN for every transaction, such as application for, and issuance of a passport; opening of individual and or personal bank account; purchase of insurance policies, among others.

Agency Moves to Boost Acceptance of Nigeriaâ€™s Exports Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritime)

James Emejo in Abuja The Director-General, Nigeria Agricultural Quarantine Service (NAQS), Dr. Vincent Isegbe, has said it is currently leading the federal governmentâ€™s drive to stem the tide of rejection of some Nigerian agricultural produce in foreign markets largely due to quality defects. He said as the agency saddled with the responsibility to promote export of agricultural produce, NAQS was determined to reverse the situation where the country loses huge revenue, servicing narrow export market options. He added that given the need to empower farmers, off-takers

and exporters to comply with the standards of the export market, the agency was implementing a programme of backward integration for better export products. Speaking at a maiden media parley with agricultural correspondents, since his assumption of officers, he said the inability of stakeholders across the value chain to meet the relevant sanitary and phytosanitary requirements applicable in the destination countries constituted the most serious impediment to the countryâ€™s participation in foreign trade. Isegbe said: â€œThis is because many countries prohibit the import of produce with mycotoxin con-

tamination, high pesticide residue, microbial contamination, sloppy packaging and labelling. â€œIt is our goal to make Nigerian agricultural produce acceptable everywhere in the world. That way, we will earn more foreign exchange from more destination countries. According to him, the ongoing intervention code-named â€œExport Improvement Initiative,â€? is tailored to ensure that all relevant activities performed from the fields where the prospective export crops are cultivated up to the point of shipment are consistent with the standard conditions and protocols. He said NAQS had been

interfacing with stakeholders to educate and train them on export quality criteria for agricultural produce as part of the measure to boost agricultural exports. He noted that the highlights of its enlightenment campaigns are the instruction of stakeholders on global Good Agricultural Practice (GAP) and the formation of selfregulating associations among the different commodity producer constituencies. â€œThrough this strategy, NAQS is addressing the fundamental inhibitors of agricultural export and widening the scope for participation of everyday Nigerians in the export business,â€? he said. He said the efforts of the

service had achieved positive results in monetary terms for the country among others. The DG said: â€œI am glad to report that NAQS efforts in mainstreaming best practices are yielding great rewards. Due to increased knowledge and adaptation to guidelines, Nigeria was able to export 1,983 containers of Hibiscus to Mexico, within the first 9 months of 2017. The country earned $35 million US dollars in the self-same period. â€œOur mission is to catalyse the harnessing of the export potentials of Nigerian agricultural resources. We recently conducted a crop pest survey on pigeon pea, sorghum and groundnut.

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BUSINESSWORLD

MARKET REPORT

Stock Market Declines on Profit-taking, Elections Delay Goddy Egene The Nigerian equities market closed negatively last week following investorsâ€™ reaction to the postponement of general elections and profit taking. The market had maintained a positive performance since the beginning of February as investors were hopeful that the political risk would be reduce after the elections on February 16. The market rallied 6.6 per cent within two weeks, rising 3.7 per cent the previous week. However, the postponement of the elections last week affected demand for shares as investors remained on the sidelines while others locked in profits. Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 0.61 per cent to 32,515.52, while market capitalisation closed lower at N12.126 trillion. Similarly, all other indices finished lower with the exception of the NSE ASem, NSE Banking, NSE Insurance NSE-AFR Bank Value and NSE Oil/Gas indices which rose by 0.96 per cent, 0.68 per cent, 0.02 per cent 0.95 per cent and 0.13 per cent respectively. According to Afrinvest (West Africa), at the start of the week, investors reacted negatively to the postponed presidential election before recalculating the political risk and subsequently re-positioning in bellwethers on Tuesday. â€œWe had anticipated the market to maintain a positive position till Friday based on improved sentiments on Tuesday, but this was short-lived as we observed more cautious trading in terms of volumes and higher sell-offs before the close of the week. We believe most investors stayed on the sidelines during the week as the uncertainty regarding the elections heightened by mid-week,â€? Afrinvest said. Market operators had said the postponement was not good for the stock market. For instance, Chairman of Association of Stockbroking Houses of Nigeria (ASHON), Partick Ezeagu said the postponement led to more uncertainty in the stock market in particular and economy in general. According to him, uncertainty is the greatest phobia that afflicts any market and even more applicable to the capital that is very sensitive to uncertainty in the political fate of a sovereignty. â€œThe delay in the conduct of our national election and the fact that it happened less than six hours before the election was to commence, investors will react negatively unless a very credible reason is adduced and effectively disseminated urgently,â€? Ezeagu had said. Similarly, the Group Chief Executive Officer of Emerging Africa Capital Group, Mrs. Toyin Sanni, had said the postponement lengthened the waiting time for investors who had already adopted wait and see approach to prospects of investing in Nigeria. â€œIn 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 free,â€? she had said. Sanni had added that the development could also raise, in some quarters, fears that the process itself may be being manipulated. â€œAnything that reduces the

recorded in the last two weeks. â€œAlthough it has a cost to the economy but may not affect our market due to expectations of companiesâ€™ results which have started coming into the market. We are expecting the market to continue to rise in anticipation of good results to be declared by companies,â€? he said. But despite the announcement of corporate earnings with dividends last week, most investors remained on the sidelines, leading to a decline in the market.

perception of transparency affects our attractiveness and credibility and investment destination,â€? she said. Another stockbroker, Mr. David Adonri of Highcap Securities Limited, had also said the postponement of the election at the dying minute was an insult to the electorate. â€œEvery sector of the economy including the capital market will be disastrously affected. It will further erode investor confidence, which is already at a low ebb,â€? Adonri said.

Also, Mr. Sola Oni of Sofunix Investment, said the postponement is a sad commentary that will deepen Nigeriaâ€™s political risk with dire consequences on investment decision. â€œThe shock caused by the announcement may jolt foreign portfolio investors who have been apprehensive of the presidential election . It is not unlikely that trading on the stock market may be moderated by this development

as it is capable of further eroding investor confidence in our market. Every political decision has direct or indirect impact on the financial market. I think the time has come for our leaders to stop making Nigeria a laughing stock before the international community,â€? he said. However, Garba Kurfi of APT Securities and Funds Limited said the postponement may not have much negative impact on the market given the growth the market has

Market Turnover Apart from the decline in the NSE ASI, market turnover also declined last week as investors traded 1.481 billion shares worth N17.647 billion in 20,449 deals, down from 2.834 billion shares valued at N28.138 billion that exchanged hands two weeks ago in 28,739 deals. However, the Financial Services Industry remained the most active recording 1.038 billion shares valued at N10.170 billion traded in 12,232 deals, thus contributing 70.07 per cent and 57.6 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 193.204 million shares worth N306.521 million in 1,330 deals. The third place was Consumer Goods Industry with a turnover of 72.042 million shares worth N4.381 billion in 2,990 deals. Trading in the top three equities namely, Transnational Corporation of Nigeria Plc, Sterling Bank Plc and Access Bank Plc accounted for 421.500 million shares worth N1.274 billion in 2,979 deals. Also traded during the week were a total of 23,701 units of Exchange Traded Products (ETPs) valued at N3.020 million executed in four deals compared with a total of 1.271 million units valued at N9.782 million that was transacted the previous week in seven deals. A total of 5,845 units of Federal Government Bonds valued at N6.158 million were traded last week in 18 deals compared with a total of 1,460 units valued at N1.472 million transacted two weeks ago in nine months. Price Gainers and Losers Meanwhile, 34 equities appreciated in price during the week, lower the 60 in the previous week, while 38 equities depreciated in price, higher than 21 equities of the previous week. Japaul Oil & Maritime Plc led the price gainers with 25 per cent, trailed by Associated Bus Company Plc with 23.8 per cent. Ikeja Hotel Plc garnered 13.6 per cent, just as MCNichols Plc and Dangote Flour Mills Plc 13.3 per cent and 9.8 per cent respectively. Other top price gainers included Beta Glass Plc(9.2 per cent); The Initiates Plc (8.9 per cent), UACN Property Development Company Plc (8.3 per cent) and Oando Plc (8.3 per cent). Conversely, Livestock Feeds Plc led the price losers with 19.4 per cent, followed by Wema Bank Plc with 18.4 per cent. Vitafoam Nigeria Plc and Transcorp Plc shed 16.3 per cent and 15.2 per cent in that order. Unity Bank Plc and Neimeth International Pharmaceuticals Plc 13.1 per cent and 12.8 per cent in that order. Other top price losers include: Linkage Insurance Plc (10 per cent); C & I Leasing Plc (9.8 per cent); Cadbury Nigeria Plc (9.5 per cent); International Breweries Plc (9.4 per cent).

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Accelerating Nigeriaâ€™s Industrialisation The Federal Ministry of Industry, Trade and Investment led project Made in Nigeria for Export, aims to develop world-class special economic zones in the country, writes Obinna Chima Since Nigeria gained independence, successive governments have continued to talk about the need for policies to stimulate industrial growth and transform the economy from its present structure. This has seen successive governments introduce various policies to help drive their quest for industrialisation. Unfortunately, the results have been disappointing as things continue to remain the same. Some of the factors that have stalled the countryâ€™s industrialisation story include policy summersault, market failure, lack of political will and market distortion. Indeed, the slow pace of Nigeriaâ€™s industrialisation is responsible for the nationâ€™s disappointing performance in tackling poverty and providing jobs for its bulging youth population. That is why whenever commodity prices decline and global grow slows, the country is always affected. In fact, Nigeriaâ€™s high import dependence explains why the naira, the countryâ€™s currency is often the bellwether for Nigeriaâ€™s economic health. Clearly, the need to accelerate the countryâ€™s industrialisation, the Economic Recovery and Growth Plan (ERGP) had identified the development of Special Economic Zones (SEZs). The SEZs The SEZs are major strategic tools to accelerate the implementation of the Nigeria Industrial Revolution Plan (NIRP). Also, the project MINE (Made in Nigeria For Exports) was envisioned by the Federal Ministry of Industry Trade and Investment (MITI) and the Nigeria Export Processing Zone Authority (NEPZA), to develop SEZs to world class standards and position Nigeria as the preeminent manufacturing hub in sub-Saharan Africa and a major exporter of made in Nigeria goods and services regionally and globally. Project MINE, which is to develop the world-class zones, was designed to position Nigeria as the pre-eminent manufacturing hub in sub-Saharan Africa, and a major exporter of made in Nigeria goods and services regionally and globally. Among others, the project sought to aid structural transformation of the Nigerian economy by increasing the manufacturing sectorâ€™s contribution to Gross Domestic Product to 20 per cent by 2025; contribute to sustainable inclusive growth by creating 1.5 million new manufacturing jobs in the initial phase of the project and increase and diversify foreign exchange earnings by increasing manufacturing sector exports to at least $30 billion annually by 2025. Others include the creation of local models of global best practice in provision of world class infrastructure at competitive costs connecting SEZs to international and regional markets with transport links, uninterrupted power, ICT, water, sewage and other services to ensure smooth and efficient operation of SEZ businesses; promote the â€œclusterâ€? effect to be gained by locating similar export-oriented manufacturing businesses within the same locality and attract world class investors with strong positions in global supply chains and investors with potential to increase the scale of operations rapidly to set up operations in SEZs. â€œThe first phase of the project is to focus on the development and upgrade of SEZs in 12 states across Nigeria, following which the initiative will be extended to other States in subsequent phases. â€œThis involves, among others, partnering with the private sector to develop new world-class SEZs in Abia, Katsina and Lagos as pilot projects to demonstrate proof of concept and provide models for future SEZ development Nigeria. â€œOn governance, oversight of the project rests with the Honourable Minister of Industry, Trade & Investment, supported by the Honourable Minister of State and the Permanent Secretary, who comprise the leadership of MITI. â€œThe leadership of MITI is supported by a Project Steering Committee (SteerCo), with

Project MINE, which is to develop the world-class zones, was designed to position Nigeria as the preeminent manufacturing hub in sub-Saharan Africa, and a major exporter of made in Nigeria goods and services regionally and globally. Among others, the project sought to aid structural transformation of the Nigerian economy by increasing the manufacturing sectorâ€™s contribution to Gross Domestic Product to 20 per cent by 2025

Buhari membership drawn from a cross section of stakeholders, set up to support project oversight, governance and implementation. â€œIt meets on a regular basis to review progress of project implementation, proffer advice and assist in problem solving,â€? the Ministry of Industry, Trade and Investment had explained. To this end, on June 2018 the Nigeria SEZ Investment Company Limited (NSEZCO) was set up as the special purpose vehicle to deliver project MINE and harness the federal governmentâ€™s spending on the SEZs. However, even as major Development Finance Institutions (DFIs) were committing to fund the development of the SEZs in Abuja, work had commenced on Enyimba Economic City in Abia State. â€œWe agreed to be part of the project because it has been long-overdue. We have no doubt that it will succeed,â€? Managing Director of the Bank of Industry, Mr. Kayode Pitan had said. For Abia State Governor Okezie Ikpeazu and the communities that donated land, it was hope kept alive as the management of Nigeria SEZ Investment Company Limited (NZESCO) and the Chief Executive Officers of Afreximbank, Bank of Industry and Nigeria Sovereign Investment Authority (NSIA) signed the dotted lines at an event presided over by President Muhammadu Buhari in the Council Chambers of Aso Rock. According to the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, â€œthe initial projects such as the Enyimba Economic City, are underway and feasibility studies are going on in 8 states.â€?

The three DFIs were among the five to partner with NSEZCO and the Ministry of Finance Incorporated. NSEZCO intends to raise at least US$500 million in equity over the first five years to develop special economic zones in the country. The other investment partners are African Development Bank (AfDB) and Africa Finance Corporation (AFC). â€œThis project will blossom and create 200,000 jobs because of the sheer enormity of the positive effects on my people. I see the concomitant impact on the life of my people and area. â€œI know my people are people who want to create things, so all you need to do is to make them neighbours to people who are actively manufacturing,â€? the president said. The Enyimba Economic City The Enyimba Economic City project believed to be capable of sparking industrial revolution in the South-East is a 9, 803 hectares of land, spanning three local government areas of Ukwa East, Ukwa West and Ugwunagbo. It is located at the centre of the five South-east and four South-south states and it is to be designed to drive massive economic expansion of the region and by extension Nigeria. The agreement for Economic City is a public- private partnership of NSEZCO, which holds 20 per cent stake, with the Abia State Government and Crown Realities Plc. Managing Director, Enyimba Economic City Development Company Limited, Mr. Darl Uzu, noted that â€œthe investment will facilitate the development of the economic

city in line with governmentâ€™s policy objectives and have a transformational impact in the entire South-Eastern and South-Southern area of the country.â€? And further to the Memorandum of Understanding signed with the Federal Ministry of Industry, Trade and Investment, the Shandong Ruyi Group of China had announced an investment commitment of $2 billion to the Cotton, Textile and Garment industry in Nigeria by way of anchor investments in manufacturing facilities in Enyimba Economic City, Abia State, Funtua Cotton Cluster and Lekki Free Trade Zone. In Lekki, the Lagos State Government has allocated a parcel of 1,000 hectares of land in the North East Quadrant of the Lekki Free Zone to the project company to be owned jointly by its holding company, Lekki Worldwide Investments Limited and NSEZCO. Providing the background of the initiative, the President said: â€œWhen we decided to continue with the implementation of the Nigeria Industrial Revolution Plan of the previous Administration and launched our Economic Recovery and Growth Plan to fast track implementation, we had a vision of Nigeria as the pre-eminent manufacturing hub in Sub-Saharan Africa and a major exporter to our immediate West African sub-region, the rest of Africa and indeed the World. â€œSpecial Economic Zones have an important role to play in achieving this vision. They offer investor friendly incentives, world class infrastructure and ease of doing business in order to attract local and foreign investment and have been used as a catalyst for rapid and inclusive development, job creation, industrialisation and diversified export earnings in several countries.â€? On his part, the President and Chairman of the Board of Directors of Afreximbank, Dr. Benedict Oramah, said the objectives of the bank aligns with that of the project and they are pleased with the ability of the project to grow industrialization. Managing Director of Nigeria Sovereign Investment Authority, Mr. Uche Orji, thanked the president for the opportunity of the NSIA to participate in the project. â€œThe board saw it as an opportunity to help SEZCOs lift the country through industrialisation. It is a good platform for attracting investors and we look forward to its implementation,â€? he said.

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Deconstructing Emefiele Olufunke Adesanya In his insightful tome, â€œThe Age of Turbulence: Adventures in a New World,â€? Alan Greenspan, astute economist and former Chair of the US Federal Reserve Board from 1987 to 2006, discusses among other things, economics, capitalism and other economic systems, current and future issues that face the global economy. Greenspan, who held the second-longest tenure in that position behind William McChesney Martin, came to the Federal Reserve Board from a consulting career. Although Greenspan was subdued in his public appearances, not unlike the Central Bank of Nigeriaâ€™s Governor Godwin Emefiele, favorable media coverage raised his profile to a point that several observers likened him to a â€œrock starâ€?. The Nigerian media has certainly not extended a similar favour to the unassuming CBN boss. Emefiele is not a â€˜rock starâ€™ and neither craves that status in a third world milieu that needs economic redemption, via proactive and circumspect regulatory governance that promote monetary stability and a sound operating financial environment. As the central bank and apex monetary authority of Nigeria, established by the CBN Act of 1958, which commenced operations on July 1, 1959, the major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country, promote monetary stability and a sound financial environment and to act as a banker of last resort. To this complex, fluid turf of apex banking, Emefiele brings over three decades of both theoretical and practical experience from top-flight academic and hands-on banking arenas. In a change regime, which approximates Greenspanâ€™s â€œAge of Turbulence,â€? Emefiele certainly needs these governance skills forged in the stern furnace of high-octane, financial industry, to effectively drive CBNâ€™s command-room. Emefiele illuminated the scope of this challenge and the imperative measures deployed to rein in the nationâ€™s economic drift in a highly volatile and often disruptive global environment, at the annual bankersâ€™ dinner that took place in Lagos, in November 2018. According to the CBN boss, a number of recent developments have noticeably impacted outcomes and outlooks especially in emerging markets, including Nigeria. These included rising global interest rate due to sustained monetary policy tightening stance in the United States and other advanced economies. His words: â€œThis has consequently heightened fragilities, imbalances and vulnerabilities in emerging markets. The Fed fund rate was raised steadily to 2.25 percent in September 2018 with a forward guidance for one more hike before the end of 2018 and three more in 2019. â€œSimilarly, the Bank of England raised its policy rate in August 2018 for the first time since 2008. Some emerging market economies, including India, Indonesia, Mexico and Turkey have also raised interest rates in response to that shock.â€? Clearly, as a consequence of these rate hikes under reference by Emefiele, Nigeria witnessed significant outflows of capital from emerging markets, which led to immense pressures on exchange rates, FX reserves, and sharp losses in the capital markets. Even Argentina, Brazil, South Africa, Turkey and Russia have depreciated their currencies significantly due to this shock. More so, there have been uneven fluctuations in the international prices of commodities including crude oil, gold, cocoa, etc. Though crude oil prices are currently rebounding, the prices of gold and agricultural commodities are declining. A critical dimension shaping this tumult is that the global economy has experienced profound geopolitical and trade tensions. These include strains between US and China, US and Iran, Russia and Western Powers and more. These have unquestion-

EmeďŹ ele ably impacted the dynamics of global trade. Also, these were exacerbated by rising tendencies and incidences of protectionism, nationalism and anti-globalisation - especially in the western hemisphere. As a consequence of these developments, Nigeriaâ€™s macro-economy experienced significant impulses over the last few years which triggered the countryâ€™s GDP nosedive into a recession with inflation spiralling to nearly 19 per cent. The nairadollar exchange rate hit peaks never seen before. Both unemployment and poverty also deteriorated. These adverse outcomes also revealed the countryâ€™s most worrying structural fault lines, namely, the persisting sole dependence on oil and the inordinate size of the nationâ€™s imports. For dogged Emefiele, who believes that hope is not a plan, but that a clear action was needed to be taken by the Central Bank to deal with the two identified factors that accentuated the nationâ€™s vulnerability to these global shocks. These included diminished total factor productivity in Nigeria due to a low and inadequate infrastructure base and Nigeriaâ€™s overdependence on imports for both capital goods and domestic consumption. The Emefiele-led CBN deployed seven well-thought-out measures to manage the

The EmeďŹ ele-led CBN deployed seven wellthought-out measures to manage the negative, inescapable vagaries of being an evolving member/player in the global village square

negative, inescapable vagaries of being an evolving member/player in the global village square. These included tweaking the extant monetary policy, rejigging the external reserve management, stabilising the exchange rate management, introducing the Naira-Renminbi Currency swap, given the growing importance of the Chinese currency in global markets, interventions in the development financing sector, credit allocation and heightened risk-based supervision. Informed analyses show that these CBN policies and initiatives are indeed yielding positives and are expected to continue until the underlying imbalances within the Nigerian economy have been fully resolved. For example, the Ease of Doing Business profile of the country is improving, courtesy of the CBN interventions. Specifically, the establishment of the Credit Bureau and the National Collateral Registry, which improved access to credit in the domestic economy, contributed significantly. Besides, the introduction of the transparent I&E FX Window, which increased investor confidence and eased market sentiments, also boosted Nigeriaâ€™s Ease of Doing Business indicator. According to the latest World Bank annual ratings, Nigeria is ranked 146 among 190 economies in the ease of doing business table. Though Nigeria dropped one spot vis-Ă -vis the 2017 ranking, this was somewhat an improvement over the ranking of 169 earned in 2016. On the external reserve management front, over the last few years, the Emefiele-guided CBN has established and maintained the decisive withdrawal of the de facto subsidy for the importation of 41 non-essential commodities with unfolding successes. Following the strict implementation of this policy, imports (fob) fell steadily from US$15.7 billion in December 2014 to US$11.1 billion in June 2016 and US$7.2 billion in June 2018. As it is, many entrepreneurs are taking advantage of this policy to venture into

the domestic production of the restricted items with remarkable successes and great impact on employment. By tweaking the monetary policy, CBN embarked on a cycle of tightening to rein in inflation, with MPR hiked in July 2016 from 12 per cent to the prevailing 14 per cent today. It also adopted open market operations to support the tightening measures. The efforts by the CBN are yielding considerable results as seen in the trajectory of key macroeconomic indicators, the cyclical recovery of the economy since the 2016 recession, and short-term prospects. For instance, after five quarters of uninterrupted GDP contraction -beginning from 2016 first quarter- the economy exited recession during the second quarter of 2017. This recovery has been sustained for five consecutive quarters. Correspondingly, the Nigerian economy witnessed 18 straight months of disinflation to 11.1 percent in July 2018, following a period of rising inflationary pressure which peaked at 18.7 percent in January 2017. Slight upticks, due to rising food prices, however, raised it to 11.3 percent in September 2018. The exchange rate has remained largely stable at the FX markets with evident convergence continuing across all segments. At the BDC segment, we saw significant appreciation of the Naira from over N525/US$ in February 2017, to about N359/US$ currently. These interventions by the CBN, in â€œThe Age of Turbulence,â€? flow from total commitment and passion of a disciplined turf-player who shares the vision of the administration he serves. Clearly, strengthening the economic recovery process in Nigeria is not a picnic. It is an imperative that the project be guided by a patriot who believes in Nigeria, who has unflinching faith in the ingenuity of Nigerians and who holds dear, the promise of the nationâ€™s shared future. Governor Godwin Emefiele, currently in the saddle, is one of such patriots. Adesanya writes from Lagos

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Chioke: There is Need for Stronger Institutions in Nigeria The Group Managing Director, Afrinvest West Africa Limited, Mr. Ike Chioke, in this interview says the country is in dire need of strong institutions. Chioke opines that strong institutions are drivers of good governance, just as he stresses that the bane of strong institutions is one of the factors that have hindered the Nigeriaâ€™s growth. Obinna Chima presents the excerpts: Looking at the 2019 Appropriation Bill that the executive laid before members if the National Assembly last December, do you think it has the capacity to lift the country out of it present economic challenges? The 2019 budget is an N8.8 trillion budget, down from the N9.1 trillion budgeted in 2018. In 2017, we had budgeted N7.6 trillion. But what we have observed over the last two years is that the federal government in terms of actual performance is only managing to get about N6.5 trillion in their budget. So, if you look at the actual expenditure for 2017, it was N6.45 trillion, in 2018, it was N6.5 trillion and we estimated it will be about N6.5 trillion in 2019. So, they are really getting to a limiting level which is constrained by a number of variables. It is constrained on one hand by their revenue capacity and also constrained on the other hand by their capacity to borrow. That is because the budget is funded by the combination of revenue and borrowing. So, because of that constrain, you will see that the 2019 budget will also suffer same limitations of the previous two years. Without the election distraction, I think they would to around N6.5 trillion total expenditure. But, with the election distraction, it would be a miracle if they get to N6.5 trillion. So, I suppose that underpinning that budget is always the issue of what part of the budget impacts on majority of Nigerians. Unfortunately for this country, in the last three or four years, if you look at the details of the budget, you will find that the recurrent expenditure of the government is in excess of the total revenue of the government. That we are spending more monies on maintaining civil servants, paying salaries and overhead cost, than we actually have. So, the rest of the budget that you see, whether it is capital expenditure, is borrowing. So, by the time you borrow more money to build roads and bridges, we would be incurring additional interest expenditure and then we come back to the issue of debt service. Debt service to revenue today is about 60 per cent. So, clearly, we need to sit down as a country and rejig the whole situation, because it is not sustainable. We also remember that there is also the agitation for the adjustment of the minimum wage to N30,000. But even if they would adjust the minimum wage, we think there are areas they can play with and if you move the official exchange rate from N305 to a dollar to N360 to a dollar, that might throw in enough cash into the system. But there is also the escalator issue because ones you go to minimum wage issue, it escalates all the way to the senior staff level. So, from the budget point of view, I think that they would struggle to get to the historical performance level of N6.5 trillion for 2019 and on that basis, we would say that without a major reform on the way the fiscal and monetary policies of this country is set up, there is not much in that budget for the average person. What are the ways the government can boost its revenue? Boosting revenue is not the problem alone, controlling cost has to be part of the solution. If I show you a slide that shows that historically, over the last three or four years, we have spent more money than we are earning, before we then try to make any investment. That, tells you that something is wrong. So, we need to find a way to reign in the cost. The country is running on a module that was designed in the sixties and seventies and we canâ€™t use that module to

Chioke deal with a world that has gone completely digital and where knowledge is really the most important value, rather than hoping to sell oil. So, I think without reforming key sectors of the economy. We looked at it from seven areas and three were considered to be hard issues â€“ oil and gas, power and transport infrastructure â€“ those are hard concrete issues you put on the ground. But the other four are around how you organise human beings. It encompasses education and

Unfortunately for this country, in the last three or four years, if you look at the details of the budget, you will ďŹ nd that the recurrent expenditure of the government is in excess of the total revenue of the government. That we are spending more monies on maintaining civil servants, paying salaries and overhead cost, than we actually have

healthcare. We donâ€™t spend enough in this area and even what we have, we are not spending efficiently. There is need to boost competitiveness of our environment. The amount of bureaucracy and red tape is takes to get anything done is not encouraging. We certainly need to do more so that people can start their business and start going up, rather than when you want to set up a factory somewhere, the villagers would shake you down, the local government, church, mosque and the state would all shake you down, when you have not even started production. So, red tape need to go. You also look at our security architecture. If you have insecurity, it certainly does not encourage investment. There is also need to build stronger institutions. The challenge the Chief Justice of Nigeria is going through is certainly not being managed appropriately. Again, it appears there is a discriminatory approach to enforcing the anti-corruption fight because there are clear evidence of people who have done far worse things and are moving around freely in same government. So, these are issues we need to work around on. So, if we can reign in the cost while at same time try to boost income. And if you think about the oil and gas sector reform from the point of reigning in the cost. We estimated that last year we would have spent N930 billion in fuel subsidy and if you convert it at the parallel market rate, it is N1.6 trillion. Now, imagine that you are subsidising fuel for N1.6 trillion in a year. That subsidy element is going to the elites and you and I who are comfortably

living in Abuja, Lagos, Port Harcourt, where we have majority of the cars. Now, they would go on the pulpit and sell it to the masses that subsidy is for them. But I am sorry, the subsidy for the guys that have one, two or three cars. In fact, the more cars you have, the more subsidy you enjoy. If you are sitting in a bus and going back and forth, you are getting 0.00001 per cent of that budget for subsidy. So, if we can reduce cost, that would be helpful. So, if you take a government entity that is not efficiently run and move it out to the private sector and tax the companies that come out of that, you will make more monies. These are the things we need to think about because as we are getting more and more poor people, we had 86 million at the last count, and if our population is growing faster than our Gross Domestic Product (GDP) growth rate, then every year we are increasing the number of poor people. If we maintain the same status quo, by the time the new government spends another four years, it could get to 96 million poor people and that is not a sustainable situation. What is your take on the decision by the federal government to continue to delay the signing of the African Continental Free Trade Area (AfCFTA)? So, it is a two-edged sword. You canâ€™t leave the fire that is burning in your house and go and put off the fire that is burning CONTINUED ON PAGE 29

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CHIOKE: THERE IS NEED FOR STRONGER INSTITUTIONS IN NIGERIA out quite well, telecom sector was another area that they considered and we all saw what happened to the consortium of banks that lent to the defunct Etisalat, which is still an issue. So, most of the banks just took a position. Some even had flattish growth in terms of loan. It didnâ€™t mean that they were not lending, but it was not significant when you look at the overall picture of their loan book. Now, in the second half of 2018, we saw that we had higher yield in the fixed income market. Letâ€™s think about this, if a bank lends or places money with the Central Bank by either buying open market operations (OMO) bills or treasury bills, you are getting a discount rate of 15 per cent, which translates to an effective yield of about 17.5 per cent and it is tax deductible. By the time you factor in the tax element into it, you are having almost a risk-free rate of 19 to 20 per cent. But, if you give a loan to any customer, it comes with its attendant risk. In fact, when they are computing the liquidity ratio for the bank, the entire value is taken out and it doesnâ€™t count for your liquidity. So, you can enjoy a risk-free interest rate that is as high as 20 per cent, whilst you are battling with the legacy issues that you have. I think that was what played out majorly in 2018. And if the banks are in there to do the real business of banking and to add value to their shareholders, we wouldnâ€™t see anything wrong in that strategy. The overall picture is that the risk profile of the general investment environment is rising. There are still other regulatory costs that the banks are bearing â€“ the cash reserve requirement (CRR) is 22.5 per cent, which is official, because effective CRR can be as high as 30 per cent, depending on what the regulator brings. These are some of the issues that the banks are contending with. Banks actually want to lend because it opens more opportunity for them to earn more income. But they would rather not create those loans that would eventually add problem to their balance sheet.

in your neighbourâ€™s house. I talked about reforming our internal competiveness. So, if Nigeria has not taken enough steps to boost competitiveness internally, then it may be somewhat foolish to go ahead and open up the country so that more competitive and more efficient economies around you would be able to move goods more efficiently. That is the constraining effect of the AfCFTA regulation. While it is well intended, it cannot go without a deliberate effort to make sure that all our rules, processes and procedures can match and compare with what, letâ€™s say Rwanda can do. In Rwanda, you can open a company in 24 hours and get all the papers and approvals done. Now, compare that with Nigeria. Now, if you see a country with a couple of million people as their population and you can trade freely with them, then someone can go straight to Kigali, incorporate a company that owns a business that is running in Abuja. So, they can produce everything in Rwanda and they can sell it efficiently into your country. So, these are some of the areas we need to consider because they would see us (Nigeria) as a big market with 200 million people to sell things to. So, I think that is the constrain the authorities face. But I think we should consider having a time frame to sign the agreement and an implementation time line to change our internal structure in terms of our competitiveness, compared to other markets in the continent. What is your outlook for the banking sector in 2019, especially as we look forward to more banks releasing their full year 2018 results? As the results are coming out, we expect that banks which are barometer of the economy would naturally do well. We have seen that the full year GDP for 2018 ended at 1.93 per cent, but in that space we saw a lot of government borrowing, both domestically and internationally and also tried to find creative ways to maintain the size of the external reserves. So, in that structure, many banks, particular the tier 1 banks who have the deep balance sheet would certainly do well. So, I would not be surprised to see double-digit growth rate in terms of earnings and profit from some of the bigger banks. A couple of the tier 2 banks may sort of still be sideways. We have some of the challenges that Diamond Bank had faced which led to its business combination with Access Bank. There are still a number of banks that I feel are also in the waiting house, waiting to face the public. That is, those I call the AMCON babies, which is Polaris Bank. Keystone Bank has been sold recently, but it still needs to be stabilised and there have been talks about challenges with some of the smaller banks. So, what we saw from the banks as at their 9-month results, we saw that from their income line that some of

Chioke the double-digit growth we saw in 2017, is already giving way. Some of the banks are still having challenges with their loan books. There are still critical sectors that are pressured. The oil and gas is part of it, the legacy debts in the power sector and the major aspect of it is general commerce for some of the tier 2 banks and some tier 1 banks. So, generally speaking, the tier 1 banks are expected to post impressive results by the time they release their full year numbers. The merger between Diamond Bank and Access Bank was unexpected. The market didnâ€™t anticipate that the biggest tier 2 bank and an equally big tier 1 bank would come together. And we may equally see more of this because that has set the tone for merger to happen within the industry. So, earnings would be stable in 2019. The unaudited results released by most of the banks for the first, second and

third quarter showed a drop in their loan portfolio, may have effect their interest income. What is the implication for this and how does it affect your outlook for the sector? For most of the banks, essentially, what they did in 2018 was that they tried to be cautious in 2016 was a bad year for some banks, not necessarily in terms of earnings, but in terms of the quality of assets that they were carrying. There was exchange rate depreciation or devaluation as it were. And what it translated into for some of the banks, depending on the quantum of foreign currency assets they were carrying, some were able to post impressive income. But it didnâ€™t take out the quality of assets they were carrying in their books. So, what some of the banks had to do, coming into 2018, was that they identified need sectors they could lend to. The juicy ones, they go their hands burnt in them â€“ power, which most of them thought was going to be a good one, didnâ€™t turn

What do you think about the Brexit and what are the likely impact on the Nigerian economy? If you observe, you will see that global growth was flat in 2018 and the projection in 2019 is 3.7 per cent. When you actually look at the developed economies, global growth is actually coming up. We think the drama that unfolded as a result of Brexit was unfortunate and that was the circumstance the British people pushed themselves into. But generally speaking, that uncertainty is part of what has contributed to the flattish growth in the developed markets. British economy is important for us and I think the overarching one is the United States and China trade tension and the overall protectionist approach of most of the developed countries because of the US actions. When you say America first, then obviously, China would try to do China

TEXEM Unveils Calender for Strategic Leadership Programmes for Executives The upcoming programme by TEXEM, an international training institution, is targeted at enhancing efficiency in organisations in order to improve the socio-economic landscape in Nigeria. Informed by research which revealed the training needs of Nigerian executives, the institute has developed a calendar of programmes for the year and they all would hold in Lagos. For instance, its first programme for the year, with the theme: â€˜Creating Effective Boards and Directors,â€™ holds between April 10-11, 2019, at Eko Hotel &Suites, Lagos. Also, the second programme also scheduled for Lagos, has the theme:

â€œDeveloping Efficient and Effective Leaders for Success in An Era Of Slow Growth And Low-Performance,â€? comes up in June. In the same vein, the third programme with the theme: â€œTurning Organisational Challenges into Strategic Opportunities for Sustainable Competitive Advantage in Volatile Times,â€? holds in August this year. Similarly, another programme which holds in October with the theme: â€œDeveloping Interpersonal Influence, Addressing Vulnerability and Achieving Authenticity for Value Creation,â€? is expected to take place in Lagos, just as another with the theme: â€œDesigning A

Flexible Organisation and Engaging Innovative Ideas for a Competitive Edge,â€? holds in December. According to the promoters, visionary companies know that developing a constellation of vibrant executives and their team could be a veritable source of achieving rare, inimitable and valuable resources to build and sustain competitive advantage. Thus, leaders ought to be equipped with the requisite skills and strategic approaches that they need to deploy while working out how the business is going to achieve their specific objectives efficiently and effectively. Recent research has re-

vealed that aligning talent management strategy with business strategy is critical to the success of an organisation. With this in mind, TEXEM has put together a comprehensive development programme for the year 2019 that covers all the areas needed to help drive an organisationâ€™s strategic agenda. Upon completion of these programmes, executives will develop actionable insights, enhanced leadership quotient and capacity to make effective decisions on how to survive, grow, effectively utilise resources and outperform their competitors in this dynamic, fast-paced, challenging and complex

operating landscape. The faculty for these programmes include Prof. Rodria Laline,a visiting professor of Harvard, Instead and IESE and chair of Intrabond Capital; Prof. Andrew D. Chambers, Professor Emeritus and Former Dean of Cass Business School; Prof. Graham Wilson, Prof. in Psychology &Counselling, University of Oxford; Prof. Christian Stadler of the Warwick Business School; Prof. Nigel Nicholson, who is a Prof. of Organisational Behaviour, Faculty Advisor for Electives and Chief Examiner, London Business School). Some executives who attended previous sessions

organised by TEXEM have continued to testimfy to the benefits of the programme. â€œI regard the TEXEM programme as the best I have attended in recent times. Not one of them, but the very best as it was humanly perfect,â€? CEO International Energy Insurance, a previous TEXEM delegate, Peter Irene said. Also, the Managing Director A&J Construction Company Limited, Andy Uwejeyan said: â€œThe content of the program has been rich and educative, refreshing, enlightening and thought provoking. I enjoyed this program and I am looking forward to another program.â€?

T H I S D AY Ëž Ëœ Í°ÍłËœ Í°ÍŽÍŻÍˇ

Let Bank Supervisors Do Their Jobs Tobias Adrian and Aditya Narain Healthy banking sector. Healthy economy. So goes the thinking. Banks play a vital role in economic lifeâ€”whether for individual consumers, or more broadly across an entire economyâ€”and a strong and stable banking system is a matter of public concern. As part of their work, supervisors identify potential weak points in the system and take prompt corrective action. They need the freedom and flexibility to carry this out. The world learned this lesson all too well during the global financial crisis. Operational independence prevents supervisors from succumbing to â€œcaptureâ€?â€”either by the industries they oversee or by political actors promoting self-interested agendas, but too many policymakers fell short of that standard in the run up to the crisis. Since the crisis, operational independence became a top priority. For instance, in its 2010 report on enhanced supervision, the Financial Stability Board said operational independence of supervisory agencies â€œis critical to ensuring supervisory effectiveness.â€? The report highlighted the particular importance of independence as agenciesâ€™ roles widened to include authority to take countercyclical (and potentially unpopular) actions, for example, imposing more conservative underwriting standards in boom times or raising capital requirements. Give supervisors clear mandate, adequate Strong supervision of systemically important financial institutions is particularly challenging given the size, complexity, and influence of these institutions. Yet global financial stability depends on it. The Basel Committee on Banking Supervision agreed when it gave this issue greater prominence in the 2012 revisions to its core principles for effective banking supervision. The standards now

Ibrahim require supervisors possess operational independence, transparent processes, sound governance, legal protection, and sound budgetary processes. Importantly, the standards also call for laws spelling out banking supervisorsâ€™ responsibilities and objectives, along with a requirement their objectives be published and that regulators be accountable through a transparent framework. Simply put: Give the supervisors a clear mandate, adequate resources, and strong governance structuresâ€”and then hold them

accountable for fulfilling their mission. Still, of the 29 Basel Core Principles, the IMF and the World Bank found progress to be weakest on independence and resourcesâ€”to the extent that almost no country is fully compliant. Unfortunately, compliance failed to improve in the years since the revisions to the Core Principles. Weak governance along with inadequate human and budgetary resourcesâ€”both of which create opportunities for outside influence and pressureâ€”remain the greatest shortcomings.

This holds true whether or not the supervision function is inside or outside the central bank. Every nation is vulnerable to such problemsâ€”not just emerging market economies, where institutional capacity may still be developing, but advanced economies as well. The joint financial sector assessment reports by the IMF and the World Bank often identify the potential for government interference in banking supervisorsâ€™ prudential decisions. In countries where state-owned financial institutions play dominant roles, maintaining the integrity of prudential decisions is vital. Balancing Act Operational independence cannot be unlimited, of course, and supervisors must be held accountable for their actions or inactions. Yet diluting the regulatory framework, whether by easing up on supervision or failing to take corrective action when vulnerabilities exist, goes against the very mandate of banking supervisors. Politicians and the financial industry must let banking supervisors do their jobs, giving them adequate resources to ensure the safety and soundness of the financial system and holding them accountable for discharging their prudential duties. If countries have sectors or industries that need to be nurtured, policymakers should use budget resources to support them, but they shouldnâ€™t create market distortions, weaken prudential regimes, or foster weak institutions. Itâ€™s easy to dismantle a regulatory regime or demolish a supervisory culture, but re-establishing a sound regulatory structure is a long process, during which time a nationâ€™s financial system can be exposed to grave risks. A decade after regulatory lapses helped provoke the most painful financial crisis in a century, policymakers must renew their commitment to a vigilant, independent, and accountable supervisory structure. Adrian and Narain work with the International Monetary Fund

Promoting Financial Inclusion First Bank of Nigeria Limited has rewarded 30 winners in the maiden edition of its Xplore first account writes Ugo Aliogo Chukwuma Ikenna was one of the 30 winners in the maiden edition of the First Bank of Nigeria Limited Xplore first account promotion with N5000 credit to his account. He didnâ€™t believe it initially when he was contacted by the bank because people had been swindled through message of such. Therefore, he switched off his phone and headed to the First Bank branch nearest to him for confirmation and the message was confirmed to be true. Ikennaâ€™s story is one out of youths who have benefitted from the bank in the Xplore first promo. The XploreFirst promo is one of the special benefits of the account. Customers are offered yearly scholarships of N150, 000 as incentives to maintain a certain amount of deposit, in this case, N5, 000 in their account over a 30-day period to qualify for the monthly draws and giveaways. Customers would successfully maintain the set balances over the six months period are eligible to win the jackpot of N150, 000. XploreFirst is a FirstBank savings account variant designed specifically for students between the age range of 18 â€“ 29 years. A minimum amount of N1, 000 is required to open the account and account holders are to maintain a minimum balance of N200 to run the account. As seen in most cases, the target audience usually prefers accounts with zero account balance over those that require minimum deposits. The purpose of this promo is to grow account balances for the Bank as well as fulfill the product promise and entice customers with the opportunity to win the scholarship. Speaking at the raffle draw of the FirstBank XploreFirst account promo, the Team Lead Liability Product, First Bank of Nigeria (FBN), Maxwell Ezenwa, said as the bank recently commenced started the inaugural draw in 2018 and for the monthly draw, the customers are expected to win N5000 airtime credit. â€œWe just started with the first inaugural draw in 2018. For the monthly draw, the customers are expected to win N5000 airtime credit. So 30 of these account holders have benefitted from these initiatives. You can also see how we have tried to spread it because First Bank

Adetuntan is pan Nigeria and it is international,â€? he noted. He also stated that with over 700 branches, the bank has tried to spread the initiative across the six geopolitical zones of the country which the bank is present. Ezenwa noted that from each zone, they produced five winners, thereby bringing the total to 30, adding that for the next six months the bank would continue in this direction rewarding winners, â€œthe promo would end in grand finale draw that would enable winners to win N150, 000.â€? According to him, â€œThis is the maiden edition of the raffle draw for this segment. As far back as 2008, the bank has been running promotions on savings. But this year, the bank decided to break it down to favour the youth population. This is why we singled out this very product which is xplore first and customers that

open this account open it to this reward scheme. The bank actually has three different types of account for the youth segment. â€œWe have a special account for zero to 12 years which is known as the kidsâ€™ first account. Then from 13-17, we have what is called the need first account and the third category which is known as the xplore first account. In terms of growth, we expect that there would be a lot of impacts because; this is something that is very new in the industry. â€œWhat we hear other players in the industry do is the usually method of rewarding customers. But we try to segment the market and we have come down to this segment which is the youth segment and most are University undergraduates. Our expectation is that this initiative is going to return a lot of impact to the bank, in terms

of customer acquisition, customer retention and brand visibility. The bank has done a lot since 2014 in our engagement initiative to come with the understanding that as big as the bank is, first is still nimble. â€œWith over 700 branches, we try to spread this initiative across the six geopolitical zones of the country which the bank is present. For a political zone such as Lagos, we have given out five winners, South-west, we have given out five, we have gone to North-Central and we have given out five and at South-south, we have gone out five. Therefore, so for the six geopolitical zones five winners emerging from that is 30 winners. Of course, for the next six months this is what the bank will continue to do. The promo will end in grand finale draw that will enable winners to win 150,000 naira.â€? In his remarks, Group Head, Products and Marketing Support, FBN, Abiodun Famuyiwa, noted that as a bank they believe in investing in the youth segment of the market, adding that youths are the hope of the country, therefore the bank has devised a platform where they would be able to interact with them. He also noted that the focus of the bank in organising the promo is to have more of the youths in the bankâ€™s database, stating that traditionally, people see the first bank as the bank for the old people. Famuyiwa expressed confidence that the bank is committed in having many of the youths open accounts with them and fill the bank â€œbecause first bank is a youth friendly bank, and we have so many products focused on the youths.â€? He noted that the promo has been ongoing for years, and this was the first for the session, noting that it is going for six months; â€œthis is the first month, out of the six months. In December, we followed at the qualifying candidates.â€? According to Famuyiwa, â€œAs a bank they believe in investing in the youth segment of the market because we believe that they are the hope of the nation, therefore noted that the bank has devised a platform where they would be able to interact and the focus of the bank in organising this programme is to be able to be have more of them in our books.â€?

5 ) * 4 % ": t MONDAY, FEBRUARY 25, 2019

T H I S D AY Ëž Í°ÍłËœ 2019

BUSINESS/MONEYGUIDE

Jumia CEO Harps on Digital Revolution Emma Okonji The Chief Executive Officer of Jumia Nigeria, Mrs. Juliet Anammah, has stressed the need for whoever wins Nigeriaâ€™s presidential election as well as National Assembly seats to prioritise making significant investment in infrastructure development. She also called for laws and policies that would foster the countryâ€™s digital economy. Anammah, made the call during a recent chat with journalists in Lagos, to discuss how the outcome of the elections might

impact e-Commerce businesses, considering the industry has the potential of becoming a top contributor to the countryâ€™s Gross Domestic Product, which recorded a 1.93 per cent growth in 2018, compared to 0.80 per cent in 2017. She emphasised that for Nigeria to win the race to achieving potential economic output growth, huge investment must be committed to addressing the infrastructure deficits in the country. â€œThe outcome of the 2019 elections will have an enormous impact on investment policies, debt management,

public sector spending, security and governance reforms, among others,â€? she said. According to her, one of the fundamental areas of the economy needing urgent attention is infrastructure. â€œWhile considerable improvements have been made, I will like to urge the candidates aspiring for political offices to influence and implement policies that will foster economic growth by investing in infrastructure, non-oil sector, and the digital economy powered by technology,â€? she said.

IBEDC Achieves New Safety Milestone Peter Uzoho The Ibadan Electricity Distribution Company (IBEDC) has said it recently achieved a milestone of 365 days â€˜Lost Time Injuryâ€™, translating to 1.6 million safe man-hours. The Chief Technical Officer, IBEDC, Mr. Ade Ayileka, stated this in a statement that was signed by the Discoâ€™s Head of Branding and Communications, Mrs Angela Olanrewaju. Ayileka said: â€œThis safety achievement is a big milestone in the power sector considering the level of risks involved in the day-to-day activities and the extent of free access to electrical installations. â€œThe power sector by nature

is fraught with high-level hazard and occupational risk. To achieve a year with no lost time Injury is definitely a milestone to recognise.â€? He said the company was determined to putting safety at the forefront of all its operations, saying its mission was to attain the vision zero incident by 2020. According to him, the major milestone was achieved due mainly to the emphasis placed on safety within IBEDC which has formed part of its core strategic business goals consistently for over three years. Ayileka, added that other factors responsible to the achievement included extensive customer education, sensitisation on safety and huge investment on safety gear and

equipment for staff. He further said: â€œTo ensure we continue to keep safety as a culture as we work toward the International Standard Certification, which specifies requirements for an Occupational Health and Safety (OH&S) Management System, Ibadan Disco has obtained the services of an accredited environmental consultancy firm.â€? He added that the firmAMPAK Nigeria Limited was engaged for a health, safety and environment improvement programme, saying the firm would help IBEDC consolidate its existing safety structure and recommend new measures to attain the International Safety Standard Certification- ISO 45001-2018.

More Winners Emerge in Fidelity Bank Promo Oluchi Chibuzor Fidelity Bank Plc has rewarded 18 more winners with cash and several others with consolation prizes, in its ongoing â€˜Get Alert in Million promo (GAIM) fourth monthly/bi-monthly draws held in Lagos. The draw held recently, was witnessed by a representative of the National Lottery Regulatory Commission, (NLRC) Lagos office. In all, it saw 30 winners emerged from six zones: Lagos, South-West, North, Abuja, SouthEast and South-South. Speaking at the event, the Executive Director, Shared Services of the bank, Chijioke Ugochukwu, said the bank would always abide by its promise to customers who have trusted them with their money. She noted that both existing and new customers can always be part of the promo by meeting the conditions required to be eligible. â€œWe encourage people to have a savings culture through opening

an account with us, which will qualify them for the draw. â€œFor those that have not yet keyed into this campaign, we are happy to tell them that there is still N42 million waiting to be won in the next few months, so we invite everybody to be part of this savings promo.â€? The winners who cut across all regions were, Chidimma Joan Nnatuanya; Digidi Dunhill; Obi Esther Nwamaka; Ekeocha Chiamaka Joy ; Lovelyne Chidiogo Eze; Josephine Onyinye Ilori; Odozi Gloria; Layo Biobaku; Okologo Victor John ; Abieyuwa Success Oghogho ; Peter Unuamumeh Obuh; Mustapha Oyeniyi K; Justina Ibukunoluwa Akinrolabu; Paul Mary Adanne and Oghenewajutome Dennis Ezo. Other Were: Ibom Amaka Ebere; Gana Yusufari Galadima; Udechi Antonia Chinenye; Oluwakemi Ogbu; Charles Tochukwu Okafor; ,Man Of Order And Discipline Movement Of Nigeria; Emmanuella Uchechi

Chukwuma Igbojionu; Umoru Amina Jumal; Sodiq Ishola Olaniyan ; Aneyo Philip Orimisan; Ogedegbe Frank; Grace Mbatelen Seidel ; Sharifudeen Musa ; Habiba Meemah Yakubu; Ismail Adamu. Commenting on the promo, the Divisional Head, Retail, Banking, Fidelity Bank, Richard Madiebo, expressed satisfaction at the success of the promo since conception, saying it has improved the amount of trust the customers have for the bank over the years. â€œWe have noticed a lot of interest in the savings culture. As you know, this is a special period in the nation. Ordinarily, you would think people would be withdrawing from saving, but a lot of people are saving actually. â€œWe have over the years backed up what we have said with action, we told people they will win just as people have won today and in the next few days they will get their prizes,â€? he added.

FirstBank to Reward Customers FirstBank Nigeria Limited, has announced its ongoing Visa on mobile (QR) payment promo to reward customers with various discounts for using the QR payment on the FirstMobile App while carrying out transactions with select partner merchants. The promo is billed to end on 28 February 2019. The Visa QR payment on FirstBankâ€™s Firstmobile is a smart and convenient way to carryout transactions without the use of cards. According to a statement, all that was needed was for the customer to have a Firstmobile (the FirstBank mobile banking application) installed on his or

her phone. To carryout Visa on mobile (QR) payment, the customer opens the mobile app (Firstmobile), selects pay with QR code, scans the displayed QR code at the merchant location after which the merchantâ€™s detail is displayed for a validation and enters the transaction amount and PIN on the FirstMobile App, then submits to consummate the transaction. â€œCustomers are encouraged to use the Visa QR payment on FirstBankâ€™s Firstmobile at select merchant outlets to get the discount benefits such as 20 per cent off movie tickets capped at N300 at Ozone cinemas; N500 off movie tickets at Filmhouse Cinemas Surulere Mall; up to 10 per cent

discounts at Marcopolo Oriental Cuisine, Lekki and lucky dip at VTL Store, Lekki; Foodco Limited Bodija, and Evron Food Store, Lekki,â€? the statement explained. According to the Group Executive, e-Business and Retail Products, First Bank of Nigeria Limited, Chuma Ezirim, â€œFirstBank has over the years since its founding 125 years ago been a leader and pioneer at promoting excellent customer service delivery in its business transactions and with the Visa QR payment on FirstBankâ€™s Firstmobile, we remain committed to putting our customers first in terms of convenience, security and ease of doing their financial services transactions.â€?

Osinbajo

MARKET INDICATORS 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™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ Ă™Ă–Ă“Ă?ĂŁ Ă‹ĂžĂ? Ě‹ ÍŻÍąĎą

OPEC DAILY BASKET PRICE AS AT THURSDAY,21 JANUARY 2019

The price of OPEC basket of fourteen crudes stood at $66.50 a barrel on Thursday, compared with $65.97 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY Ëž Í°ÍłËœ Í°ÍŽÍŻÍˇ

MARKET NEWS

Newrest ASL Nigeria Opts forVoluntary Delisting from NSE Goddy Egene The number of companies listed on the Nigerian Stock Exchange (NSE) will further reduce as Newrest ASL Nigeria Plc has applied for voluntary delisting from the exchange. Newrest ASL Nigeria Plc has through its Stockbroker, Helix Securities Limited, submitted an application for voluntary delisting of the entire 634million ordinary shares of the company from the

exchange. According to the company, the voluntary delisting was as a result of its inability to meet up with the 20 per cent free float requirement of the exchange. In line with the provisions of Rule 1.10 of the Rules for delisting of equity securities from the exchange, which states that issuer shall set aside funds sufficient to purchase the interest of all shareholders who expressed their dissent to the resolution to

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de-list the issuer and the funds shall be domiciled with a Registrar or a Custodian duly registered by and in good standing with the Securities and Exchange Commission, broker said Newrest ASL Nigeria Plc has opened and deposited sufficient funds to settle minority shareholders in an Escrow Account with Zenith Bank Plc. Some market operators and shareholders have expressed shock at the decision of the

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company to delist considering the fact it just released a highly impressive results and declared a dividend. Newrest ASL Nigeria Plc posted a revenue of N5.425 billion for the year ended Decembr 31, 2018, showing an increase of 38 per cent compared with N3.92 billion in 2017. Profit after tax tax (PAT) soared by 285 per cent from N386 million to N1.48 billion. The company recommended a dividend of 20 kobo per share. The application of Newrest ASL

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Nigeria Plc to delist is coming on the heels of the delisting of Great Nigeria Insurance Plc. The insurance firm was delisted on January 25, 2019. Explaining the factors that informed the decision to delist, GNI had said that over the last five years, there was little or no trading activity on the shares held by the minority shareholders. â€œThere has also been a considerable fall in trading volumes over the last 12 months with

O F

an average daily volume of 1, 200 units during the period March 2017 to March 2018. Shareholders are not benefiting from the continued listing as shareholders are not getting any exit opportunity and their investments have been locked up and they find it difficult to dispose of their shareholding. Neither the company has benefitted as the companyâ€™s shares continue to trade at a significant discount to the intrinsic value.

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˾ MONDAY, FEBRUARY 25, 2019

! "

Thisday Afrinvest 40 Index Rose by 8ps

On Friday, the Thisday Afrinvest 40 Index rose 8bps to close at 1606.70 due to gains in GUARANTY (+0.5%), ZENITH (+1.8%) and FBNH ;нϬ͘ϲйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϯϲ͘ϵй ŽĨ

4.%"-&.3", &1'/1-".$& &31*$2 '/1 ! .%&6

the index. *$+&1

Equity Market Records Losses W o W͙ ASI down 0.6%

411&.3 1*$&

1*$& 1*$& 1&5*/42 411&.3 )".(& )".(& 1*$& &*()3*. ! .%&6 3/ )".(& ( "3&

*5*.%&. "1.*.(2 % !*&,% !*&,%

;)8)5:? "8;9: )52

(-51:0 )52

)5/6:- -4-5:

-9:3- 1/-81)

1/-81)5 8-= -81-9

63,15/9 3+

re ƉŽƐŝƟŽŶŝŶŐ ŽŶ ďĞůůǁĞƚŚĞƌƐ ŽŶ dƵĞƐĚĂǇ͘ tĞ ŚĂĚ ĂŶƟĐŝƉĂƚĞĚ

-4-5: 6 68:0-85 1/-81)

ƚŚĞ ŵĂƌŬĞƚ ƚŽ ŵĂŝŶƚĂŝŶ Ă ƉŽƐŝƟǀĞ ƉŽƐŝƟŽŶ Ɵůů &ƌŝĚĂǇ ďĂƐĞĚ ŽŶ

#51:-, )52 .68 .81+)

5:-85):165)3 8-= -81-9

! " -:863-;4 -<-3674-5:

The equity market closed in the red this week following three

ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ ŽĨ ƉƌŽĮƚ ƚĂŬŝŶŐ͘ ƚ ƚŚĞ ƐƚĂƌƚ ŽĨ ƚŚĞ ǁĞĞŬ͕

ŝŶǀĞƐƚŽƌƐ ƌĞĂĐƚĞĚ ŶĞŐĂƟǀĞůǇ ƚŽ ƚŚĞ ƉŽƐƚƉŽŶĞĚ ƉƌĞƐŝĚĞŶƟĂů

ĞůĞĐƟŽŶ ďĞĨŽƌĞ ƌĞĐĂůĐƵůĂƟŶŐ ƚŚĞ ƉŽůŝƟĐĂů ƌŝƐŬ and subsequently

ŝŵƉƌŽǀĞĚ ƐĞŶƟŵĞŶƚƐ ŽŶ dƵĞƐĚĂǇ͕ ďƵƚ ƚŚŝƐ ǁĂƐ ƐŚŽƌƚ lived as we

++-99 )52

+6*)52 "8)595):165)3 5+

sell ŽīƐ ďĞĨŽƌĞ ƚŚĞ ĐůŽƐĞ ŽĨ ƚŚĞ ǁĞĞŬ͘ tĞ ďĞůŝĞǀĞ ŵŽƐƚ ŝŶǀĞƐƚŽƌƐ

!:)5*1+ " 63,15/9

stayed on the side lines during the week as the uncertainty

#513-<-8 1/-81)

).)8/- .81+)

;155-99 1/-81)

264; 13 )34

observed more ĐĂƵƟŽƵƐ ƚƌĂĚŝŶŐ ŝŶ ƚĞƌŵƐ ŽĨ ǀŽůƵŵĞƐ ĂŶĚ ŚŝŐŚĞƌ

regarding ƚŚĞ ĞůĞĐƟŽŶƐ ŚĞŝŐŚƚĞŶĞĚ by mid week.

"6:)3 1/-81)

As a result, the benchmark index declined 0.6% W o W to

ϯϮ͕ϱϮϱ͘ϱ ƉŽŝŶƚƐ͕ ůĂƌŐĞůǇ ĚƌŝǀĞŶ ďǇ ůŽƐƐĞƐ ŝŶ DANGCEM ( 0.8%),

36;8 1339 6. 1/-81)

)5,6

NIGERIAN BREWERIES ( ϯ͘ϲйͿ ĂŶĚ ETI ( Ϯ͘ϭйͿ͕ zd ŐĂŝŶ

ŵŽĚĞƌĂƚĞĚ ƚŽ ϯ͘ϱй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝǌĂƟŽŶ ĚĞĐƌĞĂƐĞĚ

ďǇ

1,-31:? )52

"8)595):165)3 687 6. 1/-81)

)5/6:- !;/)8 -.15-8?

Eϳϰ͘ϱďŶ ƚŽ EϭϮ͘ϭƚŶ͘ ĐƟǀŝƚǇ ůĞǀĞů ĂůƐŽ ǁĞĂŬĞŶĞĚ ĂƐ ĂǀĞƌĂŐĞ

1)465, )52

ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ĨĞůů ϰϳ͘ϵй ĂŶĚ ϯϳ͘ϯй ƚŽ Ϯϵϱ͘ϯŵ ƵŶŝƚƐ ĂŶĚ

86;7 3+

# 6. 1/-81)

!:-8315/ )52

8-9+6

! 331-, 5,;9:81-9

Eϯ͘ϱďŶ ƌĞƐƉĞĐƟǀĞůǇ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁĞƌĞ TRANSCORP (184.1m units), STERLING ;ϭϮϭ͘ϳŵ ƵŶŝƚƐͿ ĂŶĚ ACCESS ;ϴϵ͘Ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ GUARANTY ;Eϯ͘ϰďŶͿ͕ NESTLE ;EϮ͘ϰďŶͿ

ĂŶĚ

ZENITH

;EϮ͘ϭďŶͿ

ůĞĚ

ďǇ

ǀĂůƵĞ͘

closing in the green W o W. The Banking index led gainers, up

68:- 13

#5165 )52 6. 1/-81)

;31;9 -8/-8 1/-81)

( ;99659 1/-81)

0-41+)3 )5, 331-, 86,;+:9

%-4) )52

ĐƌŽƐƐ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝǆĞĚ ǁŝƚŚ ϯ ŽĨ ϱ ŝŶĚŝĐĞƐ

-:) 3)99

Ϭ͘ϳй ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ ZENITH (+4.0%) and

)5/6:- 36;8 1339 3+

GUARANTY (+0.7%). The Oil & Gas and Insurance indices trailed,

"8)59+687 6:-39 3+

& )59)8, 59;8)5+-

ŝŶĐŚŝŶŐ ŚŝŐŚĞƌ ďǇ Ϭ͘ϭй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ gains in OANDO ;нϴ͘ϯйͿ͕ NEM ;нϮ͘ϬйͿ ĂŶĚ MANSARD (+1.0%).

KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ ŽŶƐƵŵĞƌ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƐŚĞĚ

/ 0 " *.& 12 " 1+ 2 -8

81+ -

81+ - 0/

" 1+ 2 -8

UNILEVER ( 1.1%), DANGCEM ( 0.8%) and WAPCO ( 0.4%)

!" #

$6 3;4 -

81+ - 0/

recorded losses.

( "

' #

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ

/ 0 1 " % & 2 # 7 / ,4- &

ϭ͘ϱй ĂŶĚ ϭ͘ϰй ƌĞƐƉĞĐƟǀĞůǇ ĂƐ NIGERIAN BREWERIES ( ϯ͘ϲйͿ͕

recorded the prior week. The best performing stocks for the week were JAPAULOIL ;нϮϱ͘ϬйͿ͕ ABCTRANS ;нϮϯ͘ϴйͿ ĂŶĚ IKEJAHOTEL (+17.7%) while LIVESTOCK ( ϭϵ͘ϰйͿ͕ WEMA ( 18.4%) and TRANSCORP ( ϭϱ͘ϮйͿ ůĞĚ ůĂŐŐĂƌĚƐ͘ /Ŷ ƚŚĞ ĐŽŵŝŶŐ

& ! "

$)3;-

81+ - 0/

ĚĞĐůŝŶĞ ƌĂƟŽͿ ƐŽŌĞŶĞĚ͕ ĂůďĞŝƚ ƉŽƐŝƟǀĞ ƚŽ ϭ͘ϲǆ ĨƌŽŵ ϯ͘Ϯǆ

/ 0 / 2 & 12 " 1+ 2 -8 !!# "

/ 0 1 " % & 2 # 7 " ,4&

81+ -

81+ - 0/

( "

" 1+ 2 -8 #

ǁĞĞŬ͕ ǁĞ ĞǆƉĞĐƚ ŵĂƌŬĞƚ ĚŝƌĞĐƟŽŶ ƚŽ ďĞ ůĂƌŐĞůǇ ĚĞƚĞƌŵŝŶĞĚ ďǇ

the outcome of the ƉƌĞƐŝĚĞŶƟĂů ĞůĞĐƟŽŶ͘

& ! "

% (

% -)+ +*,& % " &

# ' ( ! $

' ( ! $

# ' # ( ! $

' ( ! $

T H I S D AY Ëž Ëœ ÍşÍ˝Ëœ ÍşÍ¸ÍšÍˇ

MARKET NEWS

FMDQ Admits Mixta Real Estate Bonds and Commercial Papers Goddy Egene The listing of the Mixta Real Estate Plc N2.96 billion Tranche A and N2.32 billion Tranche B Series 2 Bonds under a N30 billion Debt Issuance Programme and the quotation of the Mixta Real Estate Plc N9.84 billion Series 1 and N2.08bn Series 2 Commercial Papers ( CPs) under a N15 billion Commercial

Paper Issuance Programme on FMDQ OTC Securities Exchange is another significant contribution inspiring confidence in the Nigerian markets as housing and infrastructure development progressively takes form. Associate Executive Director, Capital Markets, FMDQ, Ms. Tumi Sekoni, congratulated the issuer for the successful issuances, saying that the use

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€˜sharesâ€™ on the

of the proceeds of the bonds & CPs would help address the nationâ€™s housing and infrastructure gap in a sustainable manner to deliver prosperity for Nigerians and further deepen the domestic debt capital market (DCM), invariably contributing to Nigeriaâ€™s development. She further reiterated FMDQâ€™s commitment to continue to deliver strategic initiatives

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 21Feb-2019, unless otherwise stated.

towards the development of a highly liquid, deep and welldeveloped DCM in Nigeria. Also speaking, Associate Executive Director, Corporate Development, FMDQ, Ms. Kaodi Ugoji, applauded the issuer for achieving this landmark. According to her, through consistent collaboration with its stakeholders, FMDQ will not relent on in its efforts to further

deepen and effectively position the Nigerian DCM for growth, in support of the realisation of a globally competitive and vibrant economy. In his speech, the Managing Director of Mixta, Managing Director, Mr. Kola AshiruBalogun, said: â€œThese issuances play an important role in implementing our business strategy to develop affordable

housing units, our modest contribution to bridging Nigeriaâ€™s significant housing deficit. The confidence the Nigerian capital market has in us as demonstrated in these issuances is encouraging; we are more than ever committed in our quest to make strategic partnerships and provide innovative solutions whilst utilising effective long-term financing mechanisms.â€?

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 163.70 164.11 3.48% Afrinvest Plutus Fund 100.00 100.00 11.00% Nigeria International Debt Fund 278.89 279.43 2.17% 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 0.86 0.87 2.20% ACAP Income Funds 0.62 0.62 11.59% 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 2.31 2.83% 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 17.44 17.97 5.12% ARM Discovery Fund 371.22 382.41 4.09% ARM Ethical Fund 29.26 30.14 3.62% ARM Money Market Fund 1.00 1.00 13.57% 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 104.58 105.31 3.35% AXA Mansard Money Market Fund 1.00 1.00 12.54% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.85% Paramount Equity Fund 12.16 12.26 2.95% Women's Investment Fund 106.02 106.56 2.32% 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 13.46% Coronation Balanced Fund 0.86 0.86 Coronation Fixed Income Fund 1.15 1.15 2.31% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 12.42% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.98% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,211.99 1,212.77 2.24% FBN Heritage Fund 147.44 148.81 2.81% FBN Money Market Fund 100.00 100.00 14.19% FBN Nigeria Eurobond (USD) Fund - Institutional 115.50 115.84 1.41% FBN Nigeria Eurobond (USD) Fund - Retail 115.45 115.79 1.62% FBN Nigeria Smart Beta Equity Fund 154.49 156.76 2.99% 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 1.25 1.27 2.26% Legacy Debt Fund 3.30 3.30 1.72% Legacy USD Bond Fund 1.04 1.04 0.65% 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 3,045.79 3,078.29 2.09% Coral Income Fund 2,809.31 2,809.31 2.57% 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 12.82% Nigeria Entertainment Fund 109.08 109.60 1.98% 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 13.52% Vantage Balanced Fund 2.20 2.23 2.42% Vantage Guaranteed Income Fund 1.00 1.00 15.93% Kedari Investment Fund (KIF) 123.11 123.34 -1.44%

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 1.19 1.73% Lotus Halal Fixed Income Fund 1,090.14 1,090.14 1.92% 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 11.83 11.92 2.79% Meristem Money Market Fund 10.00 10.00 12.40% 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 1.38 1.40 7.64% PACAM Fixed Income Fund 12.34 12.40 1.11% PACAM Money Market Fund 10.00 10.00 14.23% 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 2.06% 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 2,389.24 2,404.11 5.42% Stanbic IBTC Bond Fund 192.31 192.31 2.46% Stanbic IBTC Ethical Fund 1.00 1.01 5.79% Stanbic IBTC Guaranteed Investment Fund 251.20 251.23 3.66% Stanbic IBTC Iman Fund 170.49 172.40 4.51% Stanbic IBTC Money Market Fund 100.00 100.00 13.26% Stanbic IBTC Nigerian Equity Fund 8,792.21 8,898.76 5.33% Stanbic IBTC Dollar Fund (USD) 1.12 1.12 3.57% 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 11.44 11.60 7.53% Zenith Ethical Fund 12.46 12.58 3.85% Zenith Income Fund 20.97 20.97 8.88% Zenith Money Market Fund 1.00 1.00 12.24%

REITS NAV Per Share

Yield / T-Rtn

5.95 118.75 51.93

-39.35% 0.00% 0.03%

Bid Price

Offer Price

Yield / T-Rtn

10.94 118.06 92.89

11.04 120.61 94.64

3.63% 0.66% 4.78%

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

4.34 7.55 15.37 12.57 149.24

4.38 7.63 15.47 12.77 151.24

8.56% -0.92% 2.81% 1.66% 3.94%

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€™s website and FMANâ€™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.

T H I S D AY Ëž Í°ÍłËœ Í°ÍŽÍŻÍˇ

CITYSTRINGS

ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? Ă¤Ă?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?Ă¤Ă?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ Í‘Í™Í’Í–Í“Í“Í–Í“Í”Í“Í–

Memories of an Election Chiemelie Ezeobi who captured some of the highlights of what transpired during the just concluded presidential and National Assembly elections, writes that it was characterised by violence in some parts, ballot box snatching, voters suppression, disenfranchisement of the blind, among others

Some hoodlums arrested by operatives of 9brigade of the Nigerian Army

One of the polling units in Ago Palace Way that was destroyed by hoodlums

of Nigeria, United Progressive Party, People For Democratic Change, African Democratic Congress, Youth Democratic Alliance, Advanced People Democratic Alliance, Action Congress, Action Party of Nigeria, Advanced Congress Of Democrats, African Democratic Congress, African Liberation Party, African Political System, African Renaissance Party, All Nigeria Peoples Party, All Progressives Grand Alliance, Alliance For Democracy, Allied Congress Party of Nigeria, Better Nigeria Progressive Party and Change Advocacy Party. Still on the list are Citizens Popular Party, Community Party of Nigeria, Congress for Democratic Change, Congress for Progressive Change, Democratic Alternative, Democratic Front for Peoples Federation, Democratic Peoples Alliance, Democratic Peoples Party, Freedom Party of Nigeria, Fresh Democratic Party, Hope Democratic Party, Justice Party, Kowa Party, Labour Party, Liberal Democratic Party of Nigeria, Masses Movement of Nigeria, Mega Progressive Peoples Party, Movement for Democracy and Justice, Movement for the Restoration and Defence of Democracy, National Action Council, National Conscience Party, National Democratic Liberty Party, National Democratic Party, National Majority Demoratic Party, National Movement of Progressive Party, National Reformation Party,National Solidarity Democratic Party, National Transformation Party, National Unity Party, New Democrats, New Nigeria Peoples Party, Nigeria

fter months of preparation and exchange of crossfire, especially between the two major parties, the Peoples Democratic Party (PDP) and the All Progressives Congress (APC), the 2019 presidential and National Assembly elections have come and gone. Expectedly, the last few weeks leading to the election was a tense one, with both major parties and a few of the newbies doing their last minute campaigns. Finally, the Election Day arrived and Nigerians at large went out to vote en mass for their favourite candidate. This election revealed the resilience and patriotism of many Nigerians especially the aged and physically disabled persons. In some areas, the aged and the physically challenged were supported as they cast their votes. Another plus experienced with this election was the large turnout of voters despite the one-week postponement that saw the election shifted from February 16 to 23. However, notwithstanding the preparedness, the election still experienced hitches here and there. Registered Parties As at August 2018, the total number of parties were 68 before the Independent National Electoral Commission (INEC) registered 23 new political parties, bringing the total number of parties to 91. The new parties are: Advanced Alliance Party, Advanced Nigeria

Democratic Party, African Action Congress, Alliance for a United Nigeria, Alliance of Social Democrats, Alliance National Party, Allied Peopleâ€™s Movement and Alternative Party of Nigeria. Others include Change Nigeria Party, Congress Of Patriots, Liberation Movement, Movement for Restoration and Defence of Democracy, Nigeria Community Movement Party, Nigeria For Democracy, Peoples Coalition Party, Reform and Advancement Party, Save Nigeria Congress and the United Patriots, United Peoples Congress, We The People Nigeria, Yes Electorates Solidarity, Youth Party and Zenith Labour Party. Meanwhile some of the old parties include the Peoples Democratic Party (PDP), the main opposition to the All Progressives Congress (APC). Others are the Social Democratic Party, United Democratic Party, Advanced Congress of Democrats, Accord (A) party, Independent Democrats, Alliance Congress Party of Nigeria, African Peoples Alliance, All Progressives Grand Alliance, Citizens Popular Party, Action Alliance, Democratic Peoples Party, Democratic Peoples Congress, Alliance for Democracy, Kowa Party, Labour Party, Unity Party of Nigeria, Mega Progressive Peoples Party, National Conscience Party, New Nigeria Peoples Party. Others include the Progressive Peoples Alliance, Peoples Democratic Movement, Fresh Democratic Party, Hope Democratic Party, Peoples Party

Advance Party, Nigeria Elements Progressive Party , Nigeria Peoples Congress, Peoples Democratic Party, Peoples Mandate Party, Peoples Party of Nigeria, Peoples Progressive Party, Peoples Redemption Party, Peoples Salvation Party, Progressive Action Congress, Progressive Peoples Alliance, Republican Party of Nigeria, Social Democratic Mega Party, United Democratic Party, United National Party for Development and United Nigeria Peoples Party. Intra-city Movement for the Voting One highpoint that showed the burning patriotism of Lagosians was the fact that some of them walked or drove long distances just to vote. These group of people braved the sun to walk long distances just to vote. Speaking to THISDAY, Mr. and Mrs Ikechukwu Edmund, who drove down from Ikorodu to Ago area in Okota, to vote, said they were buoyed by the zeal to fulfill their civic responsibility. To beat the 6am to 6pm curfew, the couple said they left their home as early as 5am and drove down to Lagos to vote. Explaining why they did not register in Ikorodu, they said they were residing in Ago in 2011 when registration was being done. Another electorate who spoke to THISDAY at another polling unit in Ago said he trekked from Ejigbo. He said, "I really wanted to vote this year. When I left my house, I didn't see any bus or bike to convey me to my polling unit so I walked.

T H I S D AY Ëž Í°ÍłËœ Í°ÍŽÍŻÍˇ

CRIME&SECURITY The only hassles I had on the way was security people who stopped me intermittently but they always released me each time I showed them my Permanent Voter â€™s Card, which showed my polling unit.â€? Hiccups Although the election has been adjudged somewhat credible it was not without some initial hitches, chief among it being some initial difficulties with the card reader. Across the nation, some of the card readers deployed suffered technical glitches and in those areas, this prompted the Independent National Electoral Commission (INEC) to resort to manual accreditation in instances when the technical team couldnâ€™t fix it. At the end of the election, it was clear that some of the challenges of the election was the minor logistic challenges, and widespread violence. In some areas, accreditation and voting commenced as early as 8am in many locations, while in some places, they did not start till early afternoon. Another challenge was the late arrival of voting materials in many centres, which caused delays and unease among voters in some of the affected areas. To ameliorate this, INEC had to declare that the election at polling units where the voting process did not start as scheduled would be extended by the amount of time lost. Voting Disruption In Lagos, despite the deployment of 30,000 personnel comprising the police and other law enforcement agencies, by the state Commissioner of Police, CP Zubairu Muazu, hoodlums had a field day in some parts of the state. From Ago to Okota, Isolo, Aguda, Surulere, Fadeyi and some parts of Amuwo Odofin, the electorates has difficulties in voting. At Ago Palace Way, thugs who were purportedly loyal to the APC stormed polling units like Adeneken and Alhaji Olusesi Streets and were forcing voters to vote APC. When they refused, they started assaulting them. Other affected areas were polling units at Century, Ohafia, Nwachukwu drive, Balogun, Jemtok, Sijuola, Streets. At Ohafia unit, the hoodlums who stormed the unit on five motorcycles had disrupted voting. They were however dispersed by the Special Anti Robbery Squad (SARS). But no sooner did the SARS operatives leave, the hoodlums returned and this time around, they threw the ballot box away and burnt the data of people that have votes already. Given the sparse number of unarmed policemen who were deployed to man the polls, the hoodlums were able to overpower them. However, the army from 9 brigade led by the commander, Brigadier General Timothy Lagbaja, were later deployed as they restored peace according to the mandate given them by the General Officer Commanding, 81 Division, Major General Musa. At Ajeromi-Ajeromi-Ifelodun LGA of Lagos State, Mrs. Peace Obi gave a first hand experience of electoral violence in Tejumola Street, Amukoko area of the LG. She narrated how political thugs beat up voters, electoral officers and ended up disrupting the election. She said: â€œThe thugs numbering about 10 in number stormed the polling booth in a tricycle, a motorcycle and a bus shouting that nobody was allowed to vote for any othĂ¨r party than APC. And whosoever that would not vote for APC should leave Lagos State. The thugs who attacked voters with sticks, metals and any other weapon they could lay their hands left a woman with a supposedly fractured hand as she was badly hit on the shoulder with their weapon. Many voters have pointed accusing fingers on APC party agents. They came and scattered the tables, broke ballot boxes. Electoral officers, voters

A gallant corper carrying an injured colleague to safety in Rivers State while policemen watch at the sidelines

ran away and some were wounded. After this invasion, the ballot papers that were thumb-printed and stuffed into the ballot boxes were seen littering the street and in the gutter.â€? Allegation of Voters Suppression In most of those affected places, it was alleged that the attacks were premeditated against the Igbo block to prevent them from voting the opposition. For instance, areas like Ago and Okota are predominately Igbos that reside there with majority rooting to vote PDP, a move the hoodlums countered. Also, at the Aguda area, another place believed to be heavily populated by the Igbos, was also under siege to prevent the Igbos from voting for fear of preference for the opposition. Some areas in Ajeromi Ifelodun local government were also affected, also predominantly-Igbo residence. Oshodi was also not left out in this challenge. Disenfranchisement of the Blind In September 2018, INEC had launched a braille ballot guide to assist eligible voters who are visually impaired to assist them cast their ballot without support. According to the commission, it was done in a bid to break every barrier during the election process for voters with visual impairments to vote using the braille ballot guide. At the polls however, the reverse was the case as none of that was made available for the blind. According to Emmanuella Agboje-Akinola, who is the Executive Programme Director at Disability Awareness and Development Initiative, the Braille Ballot guide was only a mirage. Agboje-Akinola who led her husband to the polls to vote said: â€œBlind persons were hoping to vote independently today. We are disappointed INEC. The Braille Ballot guide was meant to be inserted into the ballot paper so that blind voter can know the parties and vote independently. This would have been the first time blind persons will vote independently in Nigeria but I had to place my husband's finger on the ballot paper today.â€?

Also lamenting the lack of the Braille was the Inclusive Friends Association. Their pains was justified given the fact that their Executive Director, Grace Jerry, had commended the launch of the Braille Voting Guide, which was supported by Access Nigeria campaign and its ally, NAPVID, having worked closely with INEC to design and produce the guide. Election Tragedies It was a harvest of tragedies across the nation on the day of the election. From Borno to Zamfara, Yobe, Kogi, Ebonyi, Bayelsa, Lagos and Rivers. In Rivers, electoral violence was the order of the day and four persons were said to have been killed. The APC had alleged that one of its chieftains and former Chairman of Andoni Local Government Area of the state, Chief Mowan Etete, was killed alongside his elder brother and also his cousin in Asarama. Also, one of its ex-officio members of the State Executive Committee, Ignatius, was allegedly shot dead at Ajaka. Other casualties in the state according to the Nigerian Army were six assailants and a lieutenant, who were killed during attacks by suspected political thugs in Abonnema, headquarters of Akuku Toru Local Government Area of Rivers State. A statement yesterday by Acting Director Army Public Relations, Colonel Sagir Musa, said, â€œInformation reaching Headquarters Nigerian Army (NA) revealed that troops of 6 Division on a legitimate duty of protecting lives and properties of law abiding citizens and ensuring a conducive environment for peaceful conduct of 2019 General Elections in Abonnema, Akuku Toru Local Government Area (LGA) Rivers State were attacked by some hoodlums. The Nigeria Civil Society Situation Room said it received reports that about 16 persons had lost their lives due the violence that characterised Saturdayâ€™s presidential and National Assembly elections. It said the 16 deaths occurred across eight states, including, Borno â€“ 2, Bayelsa â€“ 2, Rivers â€“ 6, Yobe â€“ 2, Kogi -2, Ebonyi â€“ 2, Lagos â€“ 1, and Zamfara â€“ 1. This was

disclosed by the Executive Director, Policy and Legal Advocacy Centre, and Convener, Nigeria Civil Society Situation Room, Clement Nwankwo. Fear of Post-election Violence in Lagos Given the violence that erupted in some places in Lagos, there was palpable tension over fears of reprisal attacks. This tension was exacerbated by a viral message that was targeted at the Igbos, warning them to stay at home or be harmed. THISDAY checks revealed that the warning was connected to the injury sustained by the leader of the Oâ€™odua Peopleâ€™s Congress (OPC) during the voter disruption in Ago. The viral message read: â€œInformation reaching me says that all umu Igbo should be careful how they move at night during this election period. Please I appeal with you, donâ€™t leave home too early tomorrow (Sunday) to church, neither come home too late especially for those living in Ago and Okota environs. The OPC head was killed by angry voters in retaliation of the election violence of Saturday and we are getting report that OPC wants to retaliate.â€? However, as at Sunday, it was certified that the said OPC leader identified as Damola was not dead, rather, was in the hospital recuperating from the injuries he sustained during the fracas. Suspension of Voting At Abonema, headquarters of Akuku Toru Local Government Area of the state. THISDAY gathered that many voters were scared away from the polling stations by gun-toting hoodlums. Consequently, INEC suspended voting in Bonny and Akuku Toru council areas pending the return of normalcy to the area. Generally, despite the inherent hiccups and violence in some parts, the entire electoral process has somewhat been commended by many. And as the nation return to the polls on March 2, for the governorship elections, many pundits have called on INEC to see the last election as a litmus test and avoid the pitfalls witnessed recently.

5 ) * 4 % ": t MONDAY, FEBRUARY 25, 2019

MONDAY, ͺͽ˜ ͺ͸͹΁ ˾ T H I S D AY

NEWS

Point of Sales Transactions Hit N1.432tn in Six Months Obinna Chima

The value of transactions through point of sales (PoS) channels across the country between August 2018 and January 2019 stood at N1.342 trillion, figures compiled from the Nigeria Interbank Settlement System Plc (NIBSS) have revealed. The data showed that as at the end of January 2019, the value of PoS transaction was N222.921 billion. This represented an increase by 46 per cent and 114 per cent compared with the N152.099 billion recorded in January 2018 and the N91.290 billion achieved in January 2017. However, the value of PoS transactions recorded in January 2019, was lower than the value of N271.950 billion realised in December 2018 and the N230 billion in November last year. This, clearly, could be attributed

to the increased economic activities towards the end of the year. The NIBSS data also showed that as of October 2018, the value of PoS transactions stood at N212.368 billion; N200.180 billion as of September and N204.805 billion at the end of August 2018. On the other hand, the NIBSS data revealed that the volume of PoS transactions as of January 2019 was 28,162,720. This represented an increase by 75 per cent in one year, compared with the 16,102,960 realised in January, 2018. As at December last year, the total volume of PoS transactions was 31,926,618; 29,405,429 as of November 2018; 27,727,169 as of October last year; 25,846,310 as of September last year and 26,120,067 as at August 2018. The Acting Managing Director/CEO, NIBSS, Mr.

CBN Governor, Godwin Emeﬁele Niyi Ajao, recently revealed that card payments on PoS terminals in Nigeria grew from a paltry 5,000 monthly volume in 2011 to about 30 million in November 2018, all thanks to the success of the cashless Nigeria initiative launched by the Central Bank of Nigeria and all banks in Nigeria in 2011. In all, seven million cards made the 30 million card payments out of an estimated

40 million active cards in circulation in Nigeria, he had revealed. Other cards were generally used on Automatic Teller Machines (ATMs). According to Ajao, 45.3 per cent of the PoS transactions occurred at supermarkets and similar retail outlets, 14.1 per cent at fuel stations and 10.1 per cent at fast foods and restaurant locations. A further breakdown of the PoS transactions showed that 3.4 per cent were consummated at hotels, motels and resorts and two per cent at telecommunication service centers. Another two per cent took place at drug stores, pharmacies and sundry locations. In all, the number of installed PoS terminals has also grown from 10,000 in 2011 to 200,000 in November 2018. All this proves the indisputable success of the

Cashless Nigeria campaign over this eight years period. The Bank of International Settlements (BIS) payment cards and terminals publication reported 380,000 PoS terminals in use in South Africa, up to 1.6 million terminals in the UK and 620,000 terminals in Argentina. Card payment on POS terminals provides so much benefit for cardholders and businesses. Cardholders experience peace of mind and convenience without having to go through the rigour of handling and counting cash with the attendant risk of losing money to pickpockets. “Businesses on the other hand derive the benefits of ease of account reconciliation, and avoiding the problems of revenue leakage, cash handling cost and inconvenience, and general inefficiency inherent in cash payments. “Available statistics show that there are preventable

challenges with the use of cards on PoS terminals in Nigeria. This piece is aimed at explaining one major challenge and a simple prescription that banks have in place to enhance user experience in PoS terminal usage for payments. “Merchants and cardholders would experience improved card payment on PoS terminals if the advice herein contained is followed faithfully. In Nigeria, the failure rate of card transactions on PoS terminals range between 13 and 15 per cent. That is, in every 100 attempts to process card payment on PoS terminals, 13 to 15 would fail, compared with 0.7 per cent failure rate of the NIBSS Instant Payments (NIP) service. That is, only about seven NIP fund transfer transactions will fail out of 1,000 attempts,” he had explained.

Constituency election. The Collating and Returning Officer, Prof. Adeniyi Adewusi, Salam got 46,994 votes to defeat Mr. Adejare Bello of the APC who got 44,866 votes.

Ekiti

the winner. He said Adetunmbi polled 60,689 votes to defeat the incumbent Senator Duro Faseyi of the PDP who recorded 49,209 votes. In the meantime, the candidates of the APC in Ekiti South Federal Constituency 1 and Ekiti North Federal Constituency II, Mr. Yemi Adaramodu and Mr. Olarewaju Ibrahim respectively, were declared the winners with a wide margin of victory. Adaramodu emerged with 41,864 as against the PDP’s, Mr. Segun Adekola who polled 24, 707. Ibrahim polled 29,388 votes against the PDP flag bearer, Mr. Olusola Omotoso, who garnered 23,684 votes. Mr. Sola Fatoba and Mrs. Wumi Ogunlola of the APC for Ekiti Central Federal Constituencies 1 and 2 respectively, also won in the contests.

UPSET IN KWARA AS SARAKI LOSES SEAT He was declared the winner of the Bogoro/ Dass/Tafawa Balewa Federal Constituency last night by the Returning Officer in Zwall Collation Centre, Prof. Ahmed Abdulhamid, in Tafawa Balewa Local Government Area of the state. Dogara, who contested the election on the platform of the PDP, polled 73,609 votes to defeat his closest rival of the APC, Abubakar Abdullahi, who scored 50,078. The Returning Officer for Kwara Central senatorial district, Prof. Olawole Olatunbosun, from University of Ilorin, who announced the result in Ilorin, said Saraki’s 68,994 votes could not take him back to Abuja because Oloriegbe polled more votes with 123,808. Olatunbosun added that the APC candidate won all

the four local governments that made up the senatorial district, namely Ilorin West, Ilorin East, Ilorin South and Asa local government council areas of the state. The PDP also lost out in the Kwara South senatorial district poll. The incumbent, Senator Rafiu Ibrahim, was defeated by the APC’s Lola Ashiru. The Returning Officer, Prof. Sylvia Malom, while declaring the result at the Irepodun Local Government Secretariat in Omu-Aran, said Ashiru polled 89, 704 to emerge winner. Ibrahim, he said, polled 45, 176 votes.

Osun State

In Osun Sate, INEC declared Mr. Bashiru Ajibola of APC as winner of Osun Central Senatorial District with 132, 821 votes, beating PDP’s Mr. Ganiyu Abayomi with 106, 779 votes. The commission also

declared Mr. Amobi Akintola of the APP the winner of Iwo/Ayedire Olaoluwa Federal Constituency. It also declared APC’s Fakeye winner of Ila/ Ifedayo/Boluwaduro Federal Constituency. The Returning Officer, Prof. Rufus Adedoyin, from Obafemi Awolowo University, Ile-Ife declared Amobi winner having polled 29,229 votes against the PDP candidate, Mr. Mudashiru Lukman, who came second with a total vote of 21,608. Adiat Olaposi of ADP came third. He polled 17,624 INEC Returning Officer, Prof. Paul Ogunjiyagbe, who returned Fakeye as winner, said he scored 20,371 to defeat his opponent, Hon. Clement Akanni, who polled 17,247 votes. INEC also declared Mr. Bamidele Salam of the PDP as winner of the Ede Federal

Niger

Mr. Umar Bago of the APC was returned to represent Chanchaga Federal Constituency of Niger State for the third time. Bago polled 39,391 votes to beat the PDP’s Alhaji Abubakar Buba who scored 17,869 while the ADP candidate, Ambassador Nma, got 4,415. In Suleja Federal Constituency, the APC candidate Alhaji Abubakar Lado polled 54,224 to pick the second term ticket, while the PDP candidate, Mr. Mukhtar Iya, got 38,732 and the ACD candidate Alhaji Yussuf Tagwai got 37,319 votes.

A former minister, Prince Dayo Adeyeye of the ruling APC, was declared winner of the Ekiti South senatorial district. Former House of Representatives member, Mr. Opeyemi Bamidele, won the Ekiti Central senatorial district seat. Bamidele scored 94,279 votes to trounce the PDP candidate, Mr. Obafemi Adewale, who polled 48,707 votes. INEC Returning Officer, Prof. Laide Lawal, announced the results, saying while Adeyeye scored 77,621 votes, the opposition PDP and Senate Minority Leader, Senator Biodun Olujimi, polled 53,741 votes. The APC also clinched the Ekiti North senatorial district contest with the Returning Officer, Prof. Sunday Fasina, declaring Senator Adetunmbi

ANXIETY MOUNTS AS INEC SHIFTS PRESIDENTIAL ELECTION RESULTS ANNOUNCEMENT TO TODAY Prof. Mahmood Yakubu is allowing the APC to turn him into a villain and directly pitching him against the people. He should, therefore, extricate himself from the rejected APC and be on the side of the people by immediately announcing the results as already delivered at the polling units and declare, the people’s candidate, Atiku Abubakar, the winner.”

Stop Delaying Election Result, Announce Atiku's Victory, CUPP Tells INEC

The CUPP yesterday alleged that it is in possession of irrefutable evidence that some APC governors in the North-west and North-east geopolitical zones were working assiduously to inflate the number of votes scored by Buhari in those regions so as to neutralize the lead of Atiku in the other four zones. The coalition also claimed that INEC is under serious pressure to cancel elections in areas APC lost. In a statement issued by CUPP spokesperson, Mr. Ikenga Ugochinyere, the coalition alleged that APC almost secured the collaboration of the Nigerian Army, which had allegedly begun to give cover to its

chieftains and compromised electoral officers to hold back the results from the areas and to later attempt to smuggle in the inflated results. According to him, "Having confirmed from their situation room that the numbers do not add up and that President Buhari also failed to secure the constitutional 25% of the votes cast in each of two thirds of the states of the federation, the president and his party are mounting pressure on the Enugu State Governor and the State Resident Electoral Commissioner, including other South-east states to alter some results so as to award at least 25 per cent of the votes to the president." It noted that the president did not secure the 25 per cent votes in any of the states of the Southeast in 2015, adding that the administration was also plotting frantically to declare the results of the FCT as inconclusive so as to order a rerun where they will use security and thugs to intimidate the people." The opposition parties called on the electoral commission not to cancel any results already declared where no incidents were recorded, adding that the credibility of the election must be maintained and not tarnished because of the undeserved ambition "of a man who failed woefully in office."

CUPP also revealed that its presidential situation room had completed the compilation of polling unit result sheets and tabulation of all results and might be compelled to release these results to the public to forestall INEC from playing the games the APC is prodding them to play. "Our candidate won in a vast majority of the almost 120,000 Polling Units across the country. We wonder how INEC would now cancel results of elections where even agents of the ruling party signed and where they lost,” it said, adding: "The attempt to foist on Nigerians an illegitimate president through inflation of electoral figures has failed.”

APC Says PDP Planning to Announce Fake Results

Meanwhile, the APC presidential campaign council has alleged that the PDP was making moves to claim victory at last Saturday's presidential election by publishing fake results. The Director of Strategic Communications, APC Presidential Campaign Council, Mr. Festus Keyamo, said it was aware that an emergency meeting of the main opposition party had been summoned for Monday somewhere in Abuja

to map out plans on how to issue fake election results and to prepare grounds for protests. The party accused one of the PDP campaign spokesmen, Alhaji Buba Galadima, of preempting INEC by tipping PDP's presidential candidate, Atiku as the winner. "We call for the immediate arrest of Alhaji Buba Galadima as PDP and Atiku's campaign perfect plans to release fake presidential results ahead of INEC; plans to mobilise hoodlums for choreographed protests," it said. APC alleged that the PDP has summoned emergency meeting in Abuja to announce its own version of the results of the presidential election. The APC statement said that "top on the agenda of the PDP's meeting is to activate the last strand of their Dubai strategies that have since collapsed like a pack of cards: they plan to release fake results of the presidential election later today ( Sunday) or early Monday morning that they claim to have compiled themselves. "Our information is that they aim to create crises and confusion that will lead to Alhaji Atiku Abubakar claiming victory in a day or two from today ahead of the official announcement of the results by INEC. "Then, what would follow will

be some carefully choreographed protests by pockets of hoodlums in some parts of the country. The ultimate aim is to curry the sympathy of our foreign friends and push us to the Venezuela situation." In the same vein, the

National Publicity Secretary, Malam Lanre Issa-Onilu, in a statement accused PDP of making outlandish statements on the outcome of the presidential polls, warning the opposition to desist from actions that could precipitate crisis.

ARMY CONFIRMS OFFICER, SIX OTHERS KILLED IN RIVERS government would pursue justice for all those murdered in cold blood by soldiers of the Nigerian Army, allegedly recruited by the APC to unleash mayhem on PDP members in Abonema and other towns during presidential and National Assembly elections. The governor said all those involved in the cold blooded murder of innocent Rivers people to feather the presidential ambition of their benefactor would not go unpunished. He particularly berated the Minister of Transportation, Mr. Chibuike Amaechi; the General Officer Commanding (GOC) 6 Division of the Nigerian Army, Maj. Gen. Jamil Sarham; and the Federal Special Anti-robbery Squad (FSARs) Commander, Mr. Akin Fakorede, for their roles in the murder of Rivers people during the elections. He said: "Let it be known that those who masterminded the

murderous assault on Abonema and other communities in Rivers State last Saturday have bloodstains on their hands, for which they are all answerable before the Almighty God. "I wish to assure all and sundry that we shall as a government pursue justice for the families of the victims against the perpetrators of the mayhem, killings and destructions in Abonema, Buguma, Degema and other places no matter how powerful they may seem and how long it may take." Wike called on President Muhammadu Buhari to immediately direct the army to pull out of Abonema, so that the people can resume their normal lives. The army has continued the lock down of Abonema Community in Akuku Toru LGA following the death of a soldier and six others in the community.

MONDAY FEBRUARY 25, 2019 ˾ T H I S D AY

INTERNA TIONAL

French PM Urges Joint Stand to Drive Back Jihadists in Sahel French Prime Minister, Edouard Philippe, on Sunday urged partners to commit to stand with Paris in driving back jihadi violence in the Sahel. “We require everyone’s commitment to progress towards durable stabilisation. Nobody can boast of being able to do without the backing of others,” Philippe said, citing a Malian proverb at his troop’s headquarters at Gao. He was speaking days after the African Union’s peace and

security chief, Smail Chergui, urged member states to tackle the root causes of extremism in the Sahel region. France is backing a 5,000man joint mission among the five nation G5 Sahel force on the front line: Burkina Faso, Mali, Mauritania, Niger and Chad. But Chergui voiced disappointment in difficulties faced in financing and equipping the force at a time when the future of the current

UN mission MINUSMA is uncertain. The Islamist revolt in the Sahel took off after chaos engulfed Libya in 2011. Jihadist attacks erupted in northern Mali as Boko Haram emerged in northern Nigeria. Large areas of Mail remain out of contril, and the jihadists have gained ground in neighbouring Burkina Faso

and Niger, while Chad is battling unrest on its borders. “It is the action of all, with (French-led anti-insurgent Operation) Barkhane, alongside Malian forces, which will drive back jihadism,” said Philippe, who arrived in Mali late Friday for a two-day visit. On Sunday he addressed French, Malian, British and Estonian forces saying he

wanted to salute the troops’ “remarkable and decisive” results to date, including the recently announced deaths of jihadists leaders Amadou Koufa and, last Thursday, Algerian Djamel Okacha, alias Yahya Abou El Hamame. “Every day our enemies are suffering important losses, reducing their capacity to cause trouble,” said Philippe, though

he conceded the threat has not disappeared. Saturday he said 2,700 French forces in the region since 2014 “will remain as long as is necessary”. While in Gao, Philippe, accompanied by Defence Minister Florence Parly, visited a monument to 24 French soldiers who have died in Mali to date.

Senegalese President, Sall Tipped to Win Election Senegalese voters on Sunday headed to the polls for an election President Macky Sall is expected to win after strong economic growth in his first term. However, rights groups criticised him for squeezing out rivals. Senegal’s small fish-exporting economy expanded over 6 per cent in 2018, one of the highest rates in Africa, driven by an ambitious reform and development plan that included the construction of a new railway. The 57-year-old told thousands gathered for his final rally in Dakar on Friday that he would deliver universal healthcare and better access to education in a second term. “Victory in the first round is inevitable,” Sall told a crowd earlier in the week. About 6.5 million people are registered to vote at polling stations that opened at 8 a.m. (0800 GMT) and close at 6 p.m. Report says official results are due out on Friday with a run-off for the top two on March 24 if no one secures a majority. Opinion polls are banned in the run-up to the vote; however a survey by a Senegalese data company in November gave Sall 45 per cent support. Of his four rivals now lined up in the smallest field of candidates since 1988, none had over 16 per cent. In spite of Sall’s popularity, some citizens question whether a high-speed train, new motorways and a glamorous conference centres will benefit average citizens. The rights groups stressed

that many people do not have reliable water or power supplies. They have criticised the exclusion of two popular candidates from the race in the West African nation that has long been viewed as the region’s most stable democracy. It has seen peaceful transitions of power since independence in 1960. Former mayor of Dakar, Khalifa Sall and Karim Wade, son of former President Abdoulaye Wade who was in power from 2000 to 2012, were barred from running due to corruption convictions. The former president himself said in a statement that the vote was being rigged and told supporters of his son to boycott the poll. The government has dismissed the criticism, promising a free and fair vote. The remaining challengers are third-time contender and former Prime Minister Idrissa Seck, and Ousmane Sonko, a former tax inspector who is popular among the youth. Lawyer Madicke Niang and IT professor Issa Sall are also running. Sonko told supporters at his final rally on Thursday that he would congratulate Sall if the vote was fair. “But if he steals the victory, I ask the youth to walk to the presidential palace and chase him out,” he said. No less than one person was killed this month in clashes between Sall’s backers and his opponents in the southeastern city of Tambacounda, however campaigning has been largely peaceful.

Egypt Denounces UN over Executions Criticism Egypt’s Foreign Ministry on Sunday condemned the Office of the United Nations High Commissioner for Human Rights (OHCHR) for criticising trials that led to the execution of nine people earlier. Nine men were executed on Wednesday over the 2015 killing of the country’s chief prosecutor amid a surge in the number of death sentences carried out this month. The OHCHR voiced concern on Friday that trials that led to the executions of 15 people in Egypt this month may have been unfair amid allegations that torture was used to obtain

confessions. “Egypt rejects any reference to allegations that confessions were extracted,’’ the ministry said in a statement, adding it “rejects any infringement upon the Egyptian judiciary.’’ Since 2013 when the military under then-army chief and now President Abdel Fattah al-Sisi ousted Islamist President Mohamed Mursi, Egyptian courts have issued hundreds of death sentences. Only a small proportion has been carried out, though the rate of executions has isen since 2015, rights activists say.

Senegalese President, Macky Sall, during his re-election campaign in Dakar…Friday

Death Toll in India’s Hooch Tragedy Rises to 156 The death toll due to consumption of illicit liquor in India’s northeastern state of Assam rose to 156, local government officials said on Sunday. Over 200 victims, mostly the tea garden workers, are undergoing treatment in different hospitals. The hooch was consumed by people on Thursday on Halmira tea estate in Golaghat and adjacent Jorhat district, east of Dispur, the capital city of Assam. According to officials, so far

85 deaths have taken place in Golaghat, while as 71 have died in adjacent Jorhat district. “In Golaghat, the death toll has risen to 85,’’ Deputy Commissioner Golaghat Dhiren Hazarika told Xinhua on telephone. The Public Relations Officer at Jorhat Medical College Hospital, Dr Manab Narayan Baruah, told Xinhua the death toll in Jorhat due to consumption of hooch has risen to 71. “Up to 1:00 p.m. today the death toll has gone up to 71 in

Jorhat alone, many people are admitted here and undergoing treatment,’’ Baruah said. According to officials, the death toll is likely to increase further. According to a preliminary investigation, health officials said the cause of death seems to be drinking spurious country made liquor. Police, besides making some arrests, have registered a case and collected samples of the liquor. Earlier this month, about 100 people died in a similar hooch tragedy in India’s northern

states of Uttarakhand and Uttar Pradesh. Authorities, following the deaths, suspended several officials and have started a crackdown on illicit liquor manufacturing units and sales points. In December 2011, a hooch tragedy killed 172 people in South 24-Parganas district of India’s eastern state of West Bengal. Spurious alcohol deaths are often reported in India where people often drink cheap bootleg liquor.

Theresa May Promises Key Brexit Deal Vote by March British Prime Minister, Theresa May, on Sunday promised a “meaningful vote’’ by March 12 in parliament on the deal she has struck for Britain’s departure from the EU this month. “My team will be back in Brussels again this coming week,” May said on her way to an EU-Arab League summit in Sharm el-Sheikh. “As a result of that we won’t bring a meaningful vote to parliament this week. But we will ensure that that happens

by March 12,” she was quoted as saying. Britain is due to leave the EU on March 29. May has long been accused of trying to run down the clock to give lawmakers fewer options when it comes to a final vote, and says the deadline should not be moved. If the deal passes in parliament, further legislative changes would still be required to put the Brexit deal into law. Her last attempt to win

parliament’s backing for a deal ended in a resounding defeat for May. Brexit negotiations have hit an impasse, with London and Brussels unable to agree on a politically viable deal to regulate Britain’s departure from the bloc, mainly due to differences over the Irish border. In a separate development, the Church of England has called on its congregations to take part in five days of prayer to overcome

the social and political divisions surrounding Brexit. “Brexit has revealed how our politics and society have, for many decades, not paid sufficient attention to the common good,” Justin Welby, the Archbishop of Canterbury, said in a speech at the General Synod on Saturday. “The reality of exclusion and division is seen in the difficulty of our political system to build a consensus and find a common path forward,” he said.

Pope Promises End to Abuse Cover-ups The Catholic Church will stop covering up the crimes of paedophile priests “as was usual in the past,” Pope Francis said on Sunday. The pope said this at the end of the Vatican’s anti-child abuse summit, but his much-anticipated speech was short on concrete measures. The unprecedented summit was called in response to a new

spate of clergy sex abuse and cover-up allegations, including in the U.S., Chile, Germany and Australia, which exacerbated the Catholic Church’s decades-old sex abuse crisis. “No abuse must ever be covered up, as was usual in the past, or overlooked, as covering up abuses favours the spread of evil and adds a further layer of scandal,” the pope said in a

closing speech to the four-day conference. Addressing an audience of nearly 200, including 114 bishops from around the world and a handful of nuns, he reaffirmed this. He said“Even a single case of abuse – which already in itself represents an atrocity – […] will be tackled with the utmost seriousness.

“We have heard these commitments to ‘confront abuse’ many times before. “When and how is what we need to hear – in detail,” Marie Collins, an abuse survivor, who resigned from a Vatican anti-sex abuse panel in 2017, commented on Twitter. The Vatican announced “Concrete initiatives’’ in a separate statement.

5 ) * 4 % ": t MONDAY, FEBRUARY 25, 2019

MONDAY FEBRUARY 25, 2019 ˾ T H I S D AY

NEWS

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

APC Alleges Plot by Atiku to Stop Announcement of Election Results Hamid Ayodeji The All Progressives Congress (APC) Presidential Campaign Council last night alleged that the presidential candidate of the Peoples Democratic Party (PDP) Alhaji Atiku Abubakar, was planning to file a suit in court to stop the announcement of the presidential election results.

Director, Strategic Communications of the council, Mr. Festus Keyamo, said as at last night, Atiku held a meeting with a group of senior lawyers who were instructed to prepare and file the processes in court today. He alleged that Atiku was clear in his brief to the lawyers that he must be declared the

Gunmen Abduct 18 Corps Members, Injure UNIUYO Lecturer in Akwa Ibom Okon Bassey in Uyo Eighteen National Youth Service Corps (NYSC) members engaged by the Independent National Electoral Commission (INEC) were last Saturday kidnapped in the process of conducting the presidential and National Assembly elections in Akwa Ibom State. The Resident Electoral Commissioner (REC), Mr. Mike Igini, disclosed this yesterday while fielding questions from journalists in his office. He said 10 of the corps members were abducted at Abak Local Government Area (LGA), four corps members kidnapped in Itu LGA; four other corps members abducted in Ikono LGA while another set of two corps members were invited to the state Police Command headquarters. Igini hinted that while some of the kidnapped corps members had since be rescued following intervention by security operatives, adding that the two corps members invited to the state police headquarters were released when he intervened. Similarly, Igini made further disclosed that in Uran LGA, a University of Uyo lecturer, Mr. Kufre Etuk, escaped death as he was badly bartered with his head broken. Kufre who escaped from the hoodlums reportedly slept in the bush that night until the following morning when he found his way out. Also, the REC pointed out that at the federal collation centre in Ukanafun LGA, there was threat of attack of the INEC officials but security had to be beefed up to secure the environment and another enforcement of security dispatched to the Ikot Ekpene collation centre. He further explained that in

Ikono LGA, materials for 10 out of 11 wards in the area were smashed and destroyed by political thugs. According to him, “In places where there are issues of ballot boxes snatching, there will be no result from those areas. No result can emanate from any polling unit with issues of stuffing of ballots and snatching.” Igini had in a statement to all the Electoral Officers (EOs) said: “In view of all negative reports of violence, fraudulent and forceful results, abductions of poll staff, ballot box snatching among others, due and diligent attention must be given to the filling of Form 40G series. “This means that constantly, EOs must insist on taking all field reports made and captured by the Commission Electoral Operations Support Centre (EOSC) of snatched results sheets and ballot. “Study all necessary 40Gs and be mindful not to issue forms EC 8D (1), EC 8E (1), EC 8D (II), and EC 8E (II) without taking into reports of all 40Gs. “No results can emanate from polling units, wards and LGAs where there had been previous reports of serious violent attacks of poll officials many of whom are still being rescued particularly corps members and snatching of results and ballot papers taken to unknown places. “The integrity of the process leading to a declaration of results and return must go through due process and laid down procedure. There are severe consequences under the law for deviation, and so be guided.” Meanwhile, the Akwa Ibom State Police Command has denied knowledge of abduction of any corps members during the conduct of the election in the state.

INEC Office Burnt in Osun, Ballot Papers Destroyed Yinka Kolawole in Osogbo Independent National Electoral Commission (INEC) office in Oriade Local Government Area of Osun State was yesterday attacked, officials confirmed. Suspected hoodlums were said to have besieged the office of the commission, shooting at the office and destroying parts of its property. Some of the items destroyed included ballot papers and boxes, which were burnt, and

two generator sets. Meanwhile, INEC has declared the Peoples Democratic Party candidate, Oluwole Oke, as the winner of the Oriade/ Obokun federal constituency. The returning officer, Prof Rasaki Adebayo, from Obafemi Awolowo University Ile-Ife, while declaring the result, said Hon Wole Oke of the People Democratic Party (PDP) won the election with over 25, 000 votes against APC candidate who polled over 19, 000.

president-elect of Nigeria by hook or crook, whether he wins or loses, or else he would drag the country down with him. Keyamo recalled that the June 12, 1993 debacle which brought Nigeria to its knees and caused the country international isolation was precipitated by a court injunction stopping the announcement of presidential election results. The statement read: “Our usual patriotic sources from within the PDP circle and Atiku’s campaign team have reliably informed us that Alhaji Atiku Abubakar has perfected plans to finally scuttle our democracy and throw the country into constitutional crises

by surreptitiously obtaining an exparte (one-sided) court order stopping the announcement of the presidential election results, which he fears have gone against him. “We understand that a meeting was held today with a group of senior lawyers who were instructed to prepare and file the processes in court on Monday, February 25, 2019. Alhaji Atiku Abubakar was clear in his brief to the lawyers that he must be declared the President-elect of Nigeria by hook or crook, whether he wins or loses, or else he would drag the country down with him. Nigerians would recall that

the June 12, 1993 debacle that brought Nigeria to its knees and caused our country international isolation was precipitated by a court injunction stopping the announcement of presidential election results. “The court order was obtained by a certain Association for Better Nigeria headed then by one Chief Authur Nzeribe. This is exactly what Alhaji Atiku Abubakar, who claims to be a democrat, wants to foist on this nation again because of his inordinate ambition. “For us our position is very simple and straight forward: we wish to allow the legal process of declaring presidential election

results to take place peacefully and in an orderly fashion. President Buhari is not desperate, but is very confident of victory. “We also note their attempt to discredit the entire elections by certain isolated incidents of violence in some parts of the country. For instance, Lagos State that has more than 13,000 voting points recorded a very unfortunate, despicable and condemnable act of violence in one voting point that was clearly not perpetuated by any known or accredited member of our party. Yet the PDP has cried out to the world about ‘burning of ballot papers in most parts the country’.

EKITI WINNERS..

L-R: Mrs. Oluwakemi Fatoba; her husband, member –elect, House of Representatives (Ekiti Central 1), Hon. Sola Fatoba; wife of Senator-elect, Mrs. Tomilola Adeyeye; Ekiti State Governor, Dr. Kayode Fayemi; Senator-elect (Ekiti South), Prince Dayo Adeyeye; and Chief of Staff to the Governor, Hon. Biodun Omoleye; shortly after the service at the Government House Chapel, Ado-Ekiti…yesterday

Tension in Ogbomoso as Collation Officers Flee INEC Office The collation process at the Independent National Electoral Commission (INEC) at Ogbomoso North Local Government Area (LGA) was yesterday truncated as the returning officer, Professor Rasheed Okunola, and other collation officers were forced to flee the centre.

Okunola was reconciling the results of the 10 wards in the LGA when the report of security threat was received. Officials of INEC accompanied by security agents on receiving reports that some people wanted to cause violence, moved all the results to the town hall, near the palace of Soun Ogbomoso.

Okunola had told the senior police officer before the incident that he was rounding off, and that announcement would be made shortly. The results would later be announced at the town hall, which is now being heavily guarded by soldiers. The Chairman of the All Progressive Congress (APC),

Ogbomoso North, Bukola Badmus, has earlier accused INEC of conspiring with Adebayo Alao-Akala to manipulate the results of the election. Some party agents alleged that the result sheets were blurred, making it impossible to get a clear picture of the figures.

Akpabio Loses Senatorial Seat as Melaye Wins Kogi West Okon Bassey in Uyo and Yekini Jimoh in Lokoja The immediate past Senate Minority Leader, Senator Godswill Akpabio was on Saturday defeated during the National Assembly elections. This is as the senatorial candidate of Peoples Democratic Party (PDP), Senator Dino Melaye, representing Kogi West senatorial district at the National Assembly was leading the candidate of All Progressives Congress (APC), Senator Smart Adeyemi according to the result from INEC office in Lokoja. The PDP senatorial candidate and former Deputy Governor of Akwa

Ibom State, Christopher Ekpenyong reportedly won in all the eight out of 10 local government areas released by INEC. Only the result of the country home of Senator Akpabio, Essien Udim LGA and that of the neigbouring Ikot Ekpene LGA were still pending. Also, the candidates of the PDP that contested the House of Representative elections won in all the eight LGA results released. In the senatorial election in Etim Ekpo LGA, PDP - 6,603 votes, APC - 2,671 votes; in Abak LGA, PDP - 10,926 and APC - 9,787; Ika LGA, PDP - 9,257 and APC - 4,152. In Ukanafun LGA, PDP

- 25,952 and APC - 14,452; in Oruk Anam LGA, PDP - 25,123 and APC - 10,534 PDP polled 13,184 votes, while APC polled 6,229 votes in Obot Akara LGA PDP polled 7,951 while APC polled 3,083 in Okono LGA; in Ini LGA, APC polled 5,897 votes, while PDP polled 13, 302 votes. Meanwhile, the senatorial candidate of PDP, Senator Dino Melaye, representing Kogi West senatorial district at the National Assembly was leading the candidate of APC, Senator Smart Adeyemi. Out of seven local government councils, Melaye won in six local government councils. Both of them came from Ijumu LGA.

While Adeyemi is from Iyara in Ijumu, Melaye is from Ayetoro-Gbede also in Ijumu. In Kabba-Bunu LGA, Adeyemi polled 8,971 votes while Melaye polled 14,756. PDP scored 11,024 while APC scored 15, 639 in Kogi LGA. In Ijumu, PDP scored 11749, while APC 8517. In Lokoja LGA, PDP scored 24,576 while APC 18,800. In Yagba West, PDP polled 8,942, while APC scored 6,799; in Mopa, PDP 5,112, while APC scored 3,668 and in Yagba East, PDP scored 8,638, while APC 5,077. While Adeyemi polled a total of 67, 471 votes, Senator Melaye scored total votes of 84, 797.

MONDAY FEBRUARY 25, 2019 ˾ T H I S D AY

NEWS XTRA

Buhari Wins in Ekiti as APC Clears Three Senate, Six House Seats Fayemi hails victory Victor Ogunje in Ado Ekiti The Independent National Electoral Commission (INEC) has declared the All Progressives Congress (APC) candidates as winners of the three senatorial and six House of Representatives seats in Ekiti State in the last Saturday’s National Assembly elections. In the same manner, President Muhammadu Buhari scored a total of 219,231 votes to defeat the presidential

candidate of the Peoples Democratic Party (PDP), Alhaji Abubakar Atiku, who scored 154,032 votes in the state. In the results declared by INEC, Prince Dayo Adeyeye of the All Progressives Congress (APC) was declared winner of the Ekiti South senatorial district. Former House of Representatives member and APC senatorial candidate in Ekiti Central election, Hon Opeyemi Bamidele, won the

APC Thugs Kidnap, Strip DCP in Bayelsa Police, soldiers clash over fake result sheets in Brass Deputy Commissioner of Police in charge of Federal Special Anti-Robbery Squad (SARS), Kola Okunola, has been allegedly taken hostage by thugs suspected to be loyal to a former Governor of Bayelsa State, Chief Timipre Sylva and the member representing Brass Constituency 1 in the Bayelsa State House òf Assembly, Israel Sunny-Goli. The Secretary to the State Government, Mr. Kemela Okara, said that the thugs led by Sunny Goli and backed by the military were mounting pressure on the Deputy Commissioner òf Police to

accept fake results from Brass. He added that the DCP’s refusal to sign the fake result caused a disagreement between the police officer and a Major in the Nigerian Army and his men. According to him, the DCP who insisted on submitting the right results to INEC, was taken hostage in the waters and stripped naked by the thugs. The situation has caused serious tension in Brass. He lamented that the Nigerian Army seemed to have taken charge of collation òf the election results in Brass.

senatorial seat in the state. Bamidele, who was in the lower chambers of the National Assembly between 2011 and 2015, scored a total of 94,279 to trounce the PDP candidate, Obafemi Adewale. Adewale polled a total of 48,707 votes. INEC Returning Officer, Prof. Laide Lawal, announced the results in the state in the early hours of yesterday in Ikere. While the winner scored 77,621 votes, the opposition PDP and Senate Minority Leader, Senator Biodun Olujimi polled a total of 53,741 votes. Apart from the APC and PDP, other parties that participated in the election were Democratic Alliance (DA), Green Party of Nigeria (GPN), Peoples Party of Nigeria (PPN), NAC and others Similarly, INEC Returning Officer, Prof. Sunday Abayomi Fasina, declared Adetunmbi of the

APC the winner of the Ekiti North senatorial district poll. Adetunmbi polled 60,689 votes to defeat the incumbent Senator Duro Faseyi of the PDP who recorded 49,209 votes. However, the candidates of the APC in both Ekiti South constituency 1 and Ekiti North constituency II, Hon. Yemi Adaramodu and Olarewaju Ibrahim, were declared winners with a wide margin of victory respectively. Yemi Adaramodu of the APC emerged with a total number of 41,864 as against the candidature of the PDP Mr. Segun Adekola, who polled 24, 707. Meanwhile, the APC candidates in Ekiti North constituency II, Olarewaju Ibrahim, polled 29,388 votes against the PDP candidate, Olusola Omotoso, who garnered 23,684 votes. Hon. Sola Fatoba and Mrs. Wumi Ogunlola, APC candidates for the House of

Representatives seats in Ekiti Central federal constituencies 1 and 2 respectively, also won in the contests. Also, he candidate of APC in Ekiti North federal constituency 1, Mr. Peter Owolabi, defeated the incumbent, Kehinde Agboola, of the PDP. However, Ekiti State Governor, Dr. Kayode Fayemi, yesterday hailed the election results declared by INEC, which favoured all the National Assembly candidates of the party. Fayemi spoke at the Government House Chapel, Ado-Ekiti, where he worshiped along with Prince Dayo Adeyeye (Senator-elect for Ekiti Central district); Hon Sola Fatoba (member-elect, House of Representatives Ekiti Central 1) and Prof Dupe Adelabu, a former deputy governor of the state. He, however, sympathised with families of victims of

election violence as reported in some parts of the country, urging Nigerians to always seek peace at all time, The governor also urged winners in the election to be humble and focused on service delivery, advising them to see their victory as a product of God’s grace and not as a result of their power or might. “We have every reason to thank God for the peaceful conduct of the election in Ekiti State. Two weeks ago, the congregation here raised prayer points concerning the peaceful conduct of the election in our state, and God indeed answered our prayers. “The elections held in a peaceful atmosphere in Ekiti State. We pray for the repose of the lives lost during the election in some parts of the country and pray that peace will reign supreme in the country,” he stated.

PDP Leading in Ondo Presidential Poll James Sowole in Akure The Peoples Democratic Party (PDP), presidential candidate, Alhaji Atiku Abubakar was leading in the results of eight local government areas released in Ondo State. The state has 18 LGAs. The results announced by the Independent National Electoral Commission (INEC)

Returning Officer, Prof. Idowu Shoremekun, showed that the PDP candidate won in Irele, Ondo East, Akure North, Idanre and Ifedore LGAs. Also, the PDP was leading in Ose, Ile-Oluji and Okitipupa LGAs. On the other hand, the APC candidate, President Muhammadu Buhari was leading in Akoko North East.

APC Women, Youths Campaign Team Alleged Plans by Opposition to Rig Elections Daji Sani in Yola The Central Working Committee (CWC) of the All Progressives Congress (APC)) Women and Youth Presidential Campaign for Buhari/Osinbajo has said there are plans to manipulate election results by the opposition party in the Southeast and South-south regions. The Chairman of the committee, General Buba Marwa (rtd), disclosed this yesterday at his residence in Yola, Adamawa State capital, noting that the opposition was planning to unleash violence to alter election results starting from Sunday night. “Tonight onwards with a view to altering election results, they might use total registered voters instead of accredited voters to change the final result figures. “We therefore urge security

agencies and INEC to monitor this information very closely and act swiftly to forestall this nefarious intention. “As we await the final outcome that will surely confirm the reelection of President Muhammadu Buhari, let us all keep our eyes on the ball, follow the collation process closely and remain steadfast until the whole exercise is concluded in our favour,” he said. Marwa also expressed gratitude to all the members of his organisation and Nigerians for supporting Buhari. According to him, “May I salute the rare leadership, foresight, vision and doggedness of the wife of the president, Mrs. Aisha Buhari, the originator and motivator of this inspiring Women and Youth Campaign Team agenda.”

ELECTIONS ON THEIR MINDS…

L-R: Board Chairman, YIAGA Africa, Useni Abdul; Co-Director, Dr. Aisha Abdulai; former President of Liberia, Ellen Johnson Sirleaf; and Executive Director, YIAGA Africa, Samson Itodo, shortly after the press briefing on the presidential election in Abuja...yesterday

Former LG Chair Escapes Lynching over Alleged Ballot Snatching in Nasarawa Emmanuel Ukumba in Laﬁa A former Chairman of Akwanga Local Government Area of Nasarawa State, Yakubu Kwanta, was reported to have escaped lynching over his alleged attempt to snatch a ballot box in his Buhar polling unit. This was confirmed yesterday by the Senator representing

Nasarawa North senatorial district in the National Assembly, Philip Gyunka, in Akwanga while addressing journalists at the Gwaje polling unit. The senator, who represents the state northern senatorial district on the platform of the Peoples Democratic Party (PDP), claimed that it took the intervention of elders and

security agents present at the polling unit to rescue the erstwhile Akwanga local council boss from being lynched by irate youths. Gyunka, however, regretted the level at which politicians of high magnitude lowered their integrity by engaging in such unwholesome conducts retarding the growth of the

country’s democracy, hence he appealed for a change of attitude to that effect. But when contacted, the former Akwanga council chairman dismissed the allegation as propaganda, claiming that it was a calculated attempt by his political opponents to drag his image in the mud.

Bauchi INEC Warns against Circulation of Fake Results Segun Awofadeji in Bauchi The Resident Electoral Commissioner, Independent National Electoral Commission (INEC), Bauchi State, Ibrahim Abdullahi, has warned the public to disregard some results of the National Assembly and presidential

elections being circulated on social media. The Head of Voter Education and Publicity, INEC, Bauchi, Ahmed Waziri, in a statement he signed and issued to Journalists in Bauchi yesterday evening at the INEC headquarters on behalf of the REC, said the results were

fake because they were not announced by the commission. He said: “The attention of the Independent National Electoral Commission (INEC) in Bauchi State, has been drawn to the circulation of presidential and National Assembly results on social media.

“It is on this background that the commission is calling on the general public to ignore all such results as the Independent National Electoral Commission (INEC), is the only institution recognised by law as contained in section 27 of the Electoral Act 2010 (as amended), to make such announcements.”

MONDAY FEBRUARY 25, 2019 ˾ T H I S D AY

NEWSXTRA

PDP Demands Unconditional Release of Galadima We didn’t arrest him, say DSS, EFCC Adedayo Akinwale and Alex Enumah in Abuja The Peoples Democratic Party (PDP) has demanded for the unconditional release of one of its presidential campaign spokesperson, Buba Galadima. The party in a statement yesterday by its National Chairman, Prince Uche Secondus, said that the party cannot be hoodwinked by the Department of State Services (DSS) and the All Progressives Congress (APC). However, the DSS has denied having anything to do with the arrangement of disappearance of Galadima. But the DSS through its spokesperson, Peter Afunanya, however in a text message said, “Buba Galadima was never arrested by the DSS”. Similarly, acting spokesperson of the Economic and Financial Crimes Commission (EFCC), Tony Orilade, said the mandate of the commission is concerned only with economic and

financial offences and, “If the matter is not related to Economic and Financial Crimes”, then he cannot be in our custody. But according to Secondus,“ It is obviously no coincidence that the APC Presidential Campaign Council called for the arrest of Mr. Galadima at 12 noon today (Sunday, February 24, 2019) and the arrest was duly effected by the DSS an hour later.” The chairman said that nation is currently boiling with the deaths caused by thugs of the ruling APC, stressing that not one of these thugs has been arrested by the DSS. Secondus stressed that the nation was embarrassed by drone images of bullion vans laden with cash driving into the home of the national leader of the APC and no action has been taken by the law enforcement authorities. “Yet a patriot and pro-democracy activist is arrested,” he added. He stated, “The PDP has

been drawn to the arrest of a pro-democracy activist, Buba Galadima, by the DSS. “We as a party condemn this arrest in the strongest possible terms. Buba Galadima is a patriot. His patriotism has been previously and strongly highlighted by various Nigerians, including President Muhammadu Buhari. “What crime has he committed? I answer my own question and say none. Mr. Galadima is constitutionally guaranteed a right of freedom of speech and freedom after the speech. “This arrest is only the latest in a pattern of anti democratic actions by the Muhammadu Buhari administration.” Secondus stressed that Nigeria would not be cowed having voted for democracy, saying as a nation, “we will not be taken back to Egypt by the discredited blame centred anti-democratic forces who have turned a once thriving economy into the world headquarters for extreme poverty.”

ABCON Raises the Alarm over Fake $100 Bills in Circulation The Association of Bureaux De Change Operators of Nigeria (ABCON) at the weekend alerted members of the public about ongoing security investigation into fake $100 bills allegedly imported into Nigeria from India. ABCON President, Alhaji Aminu Gwadabe, disclosed this in a statement, after the association’s National Executive Council (NEC) meeting in Lagos. Gwadabe said the $100 bills are majorly counterfeit. He said some of the fraudsters’ objective was not only to make profit, but to undermine Nigeria’s chances for automatic membership of

the Financial Action Task Force (FATF) after assessment of the country’s financial system scheduled to hold before March. The ABCON boss said the issue of fake dollar in circulation had been observed and reported to relevant security agencies, adding that the ABCON, has in the interest of the economy and Bureaux De Change (BDCs) businesses, secured Central Bank of Nigeria (CBN) and Economic and Financial Crimes Commission (EFCC) backing to begin nationwide campaign against fake currencies in the country. He said rising cases of fake currencies in circulation had

led to huge losses to BDC operators and the economy. Gwadabe said ABCON would continue to educate members of the public on how to identify fake dollar bills in order to protect the image of the country in the eyes of foreign investors. “It is part of our objectives which is enshrined on our constitution as an association to eliminate the incidences of fake currencies circulation, thereby enhancing the image of the country and transparency in our operations,” he said. Gwadabe said the ABCON NEC had released a guide to all BDCs on how to detect a fake dollar bill.

Ihonvbere of APC Wins Owan Fed Constituency Seat Adibe Emenyonu in Benin City Professor Julius Ihonvbere has been declared as winner of Owan Federal constituency seat of Edo State. According to INEC result released at Afuze, headquarters of Owan East LGA, Ihonvbere defeated Johnson Abolagba of PDP with 33,199 votes to

25,722 votes. Ihonvbere, a Human Rights activist was former Special Adviser to former President Olusegun Obasanjo on Project Monitoring. He was also SSG to former Governor Adams Oshiomhole of Edo State, now National Chairman of the All Progressives Congress (APC).

Meanwhile, his rival, Johnson Abolagba was onetime member, representing Owan Federal Constituency under the platform of PDP as well as deputy governorship candidate of the party in Edo 2012 governorship candidate. He ran in the same ticket with Major-Gen. Charles Airhiavbere (rtd).

Police Arrest 128 Suspects for Electoral Offences The police have arrested 128 persons across the country for various electoral offences and recovered 38 assorted weapons from them. The suspects were apprehended for homiciderelated crimes including votebuying, ballot box snatching, impersonation and malicious damage amongst others. Consequently, the acting Inspector-General of Police, Mohammed Adamu, has directed the Special Election Investigation Team

to immediately commence discrete investigation of all security-related infractions during the election and prosecute those found culpable. The force spokesman, Frank Mba, disclosed in a statement in Abuja on Sunday that the IG expressed deep concerns over continuous use of hateful and inflammatory comments capable of inciting Nigerians against one another, especially by politicians and their followers.

It warned that while the force was not in the business of censoring Nigerians or abridging their constitutional rights of freedom of speech, the police would not hesitate to bring the full wrath of the law on anyone found culpable. The statement read, “Notwithstanding a few unfortunate incidents, including loss of lives recorded during the election, the IG hails the exercise as a generally successful one.

MONDAY FEBRUARY 25, 2019 ˾ T H I S D AY

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Ngige Rejects Presidential Results as Atiku Wins Four LGAs David-Chyddy Eleke in Awka The results collated yesterday at the Anambra State headquarters of the Independent National Electoral Commission (INEC) showed that the candidate of the Peoples Democratic party (PDP), Alhaji Atiku Abubakar has won in four local government areas so far announced. But the Minister of Labour and Employment, Senator Chris Ngige has raised objection to the results, particularly that of Njikoka Local Government Area. The LGAs include; Anaocha,Dunukofia, Anambra West and Njikoka. Atiku was clearly leading with a wide margin in the four LGAs. But Ngige who is the

APC agent in the election said the results announced by the collation officer, Prof. Edmund Egbo, did not tally with what was collated in the polling units and wards of the LGA. Ngige who addressed the state collation officer, Prof Francis Otunta said, “With due respect, we cannot accept this result, because it does not tally with what was collated in the field. “This is a clear case of over voting, and my party will not accept it. We know that we are working to beat time, especially because of the number of presidential candidates involved, but the right thing would have been to start by announcing the results from the field, before that of the entire local government,” Ngige said.

A tabulation by the collation officers however, proved otherwise, as there were no incidences of over voting, except a slight increase in the number of the total votes,

as against those garnered by individual candidates. The state collation officer ordered that the local government collation officer reconciles the figures and

represent them. Indications were however strong that Atiku would win most local governments in the state. So far, in PDP polled 30,655 as against APC’s 1, 055 in

Anaocha LGA. In Dunukofia, PDP polled 17, 270 while APC polled 1, 452. In Anambra West, PDP polled 15,384 and APC 2,428, while in Njikoka; PDP 28,365 and APC 2428.

Kano PDP Guber Candidate Accuses APC of Vote-buying Ibrahim Shuaibu in Kano The Kano State gubernatorial candidate of Peoples Democratic Party (PDP), Mr. Abba Kabir Yusuf yesterday alleged that massive vote buying perpetrated by the ruling All Progressives Congress (APC) dominated the just concluded presidential and National Assembly elections in the state. The gubernatorial candidate also alleged that APC had successfully achieved its plan of using money bags to buy votes in the state. “We saw it glaringly during the election; the APC Chairman, Abdullahi Abbas, and his cohorts were buying votes at polling stations,” Yusuf was quoted as saying in a statement by his spokesman, Sanusi Bature Dawakin-Tofa. The statement added that the gubernatorial candidate raised the alarm while speaking to journalists shortly after casting his vote at Chiranci polling unit in Gwale Local Government Area (LGA). The statement added that Yusuf, who is the chairman of the state’s PDP Presidential Campaign

Council, advised the Independent National Electoral Commission (INEC) and the security agencies to check the growing cases of vote buying in accordance with Electoral Act. “I am devastated to see that people’s consciousness is being bought through a paltry amount; the government of Kano used the advantage of the abject poverty, Hon. James Adisa Owolabi, representing Ifako-Ijaiye Constituency at the House of Representatives on the platform of APC, casting his vote at DAN UKANA hunger and illiteracy affecting Ward E at Ijaoye Street, Alagbado Lagos...recently a significant percentage of our population,” the statement read in part. “Abba Kabir Yusuf urge PDP presidential and National Ilorin yesterday by the state include: Oke-Ero, APC- 6,079, supporters to remain calm and Hammed Shittu in Ilorin Assembly elections in the collation officer of INEC , PDP- 6,242; Ekiti, APC- 6,662, steadfast ahead of the forthcoming Professor Bala Abdullahi said PDP-5,397; Asa, APC- 15,976, governorship and state assembly Presidential candidate of All country. The affected LGAs won by that, APC candidate polled PDP- 10,705; Irepodun, APC elections so as not to be distracted Progressives Congress (APC), Muhammadu President Buhari are Oyun, 11,051 votes as against Alhaji – 14, 395, PDP -10,232; Moro, from discharging their civil right President Buhari, has defeated the PDP Offa, Patigi, Ekiti, Moro, Atiku Abubakar that polled APC- 17, 534, PDP- 7,598; in voting passionately for people who has substan of driving good presidential candidate, Alhaji Irepodun, Asa and Ilorin 4,904 votes in Oyun local Ilorin East, APC – 31, 039, Atiku Abubakar in eight out East while Atiku won only government council area of PDP-12,820; Offa, APC - 23, governance. the state. 685, PDP -4,540, and Patigi, of 16 LGAs of Kwara State Oke-Ero LGA. “We call on INEC and the during the just concluded In the results released in The other results released APC – 14, 791; PDP- 3, 493. security agencies to be impartial in the discharge of their duties and the media to render it’s role of a watchdog of the society to (APC) in the state had claimed But reacting to the and swiftly drafted officers ensure that decision of the Wole Ayodele in Jalingo that the killing was perpetrated development, the Command’s and men to the area to trace electorate is respect and their constitutional rights protected,” The Taraba State Police by thugs working for the Police Public Relation Officer and arrest the killers as well Command has refuted Peoples Democratic Party (PPRO) ,David Misal said as maintain peace in the area the statement added. Misal, who wondered why reports that the killing of four (PDP) as the party claimed the killing has no political persons in Karim-lamido Local the victims were its polling undertone, stressing that the politicians would always link slain men were victims of every crime to politics, enjoined Government Area (LGA) of agents. Spokesman of APC in criminality. them to desist from acts that the state was in connection According to him “four could aggravate and cause to Saturday’s presidential and the state, Aaron Atimas, National Assembly elections. had claimed that one of the men who were coming from political tension in the state. Also reacting, the state Four persons were reportedly victims, identified as Mallam Umari village to Kamberi The Returning Officer said killed in the early hours of Isa was an aide to the APC were ambushed and killed publicity secretary of PDP, the total number of registered yesterday while returning gubernatorial candidate, Sani by unknown gunmen at about Inuwa Bakari, exonerated his voters in the district was from Umari village to Kamberi Abubakar Danladi, saying the 3.23 a.m on Sunday. party from any complicity in 94,6538, while accredited voters village of the LGA after the party has lodge an official “The assailants fled into the killing as he tasked security stood at 503798. Valid votes conduct of the elections. complaint to the state police unknown destination but the agencies to investigate and cast at the election were 469127. command swung into action bring the perpetrators to book. The All Progressive Congress command. The number of rejected votes was 12478. In all total votes cast was 481605. In a related development, Secretary, Afenifere, Mr. Yinka political disenfranchisement of cover to Ndigbo in the affected the INEC Returning Officer Shola Oyeyipo in Abuja Odumakin, who registered Ndigbo, went ahead to visit communities as these thugs for Daura/Sandamu/Mai Adua Federal Constituency, Pan-Yoruba socio-political the group’s disapproval in violence on them and burning went berserk carrying out the instructions of their sinking Dr. Babangida Umar also organisation, Afenifere, has a statement yesterday, also their votes en masse. “The political vandals they political godfathers,” the group declared Fatiu Mohammed expressed displeasure over condemned the lackluster of the APC as winner of the perceived selected attacks attitude of security agencies used were said to have been stated. In a show of solidarity, House of Representatives on people from the South- to protecting the victims of calling themselves Oodua Peoples’ Congress (OPC) but Afenifere assured Igbos that election in the constituency. east in what was considered the attacks. “Afenifere condemns in the our checks with the genuine their relationship remains He declared that Mohammed a deliberate attempt by scored 94,730 votes to defeat political thugs to prevent strongest terms, the political leaders of the group have preserved irrespective of the the PDP candidate Usman them from electing leaders violence visited on Nigerians shown that the deranged attacks by the hoodlums, “We want to assure our Igbo Tela who scored 25,114 votes. of their choice during last of Ndigbo extraction in Lagos elements had no affiliation with According to him total votes Saturday’s presidential and during the Saturday presidential the OPC known by Afenifere. brothers and sisters that the “We frown seriously at bond of friendship the Afenifere cast in the election was 123179; National Assembly elections elections. Dirty political merchants and their band of the failure of the security and Ohanaeze Ndigbo have while the number of rejected in Lagos. The National Publicity thugs, apart from engineering agencies to give adequate built remains intact,” it added. votes stood at 8329.

CIVIC DUTY…

Buhari Defeats Atiku in Eight LGAs in Kwara

Killing in Taraba Has No Political Undertone, Say Police

Senator Babba Kaita Returns to Senate Nseobong Okon-Ekong The results of the National Assembly elections for Katsina North senatorial district and Daura/Sandamu/Mai Adua Federal Constituency were yesterday announced by the Independent National Electoral Commission (INEC) Returning Officer, Prof. Ojonigu Friday Ojonigu declared Senator Babba Ahmed Kaita of the All Progressives Congress (APC) winner of the Katsina North senatorial elections with 33,9438 votes. Kaita who is being returned for another term, defeated his closest opponent of the Peoples Democratic Party (PDP), Alhaji Mani Nassarawa who scored 12,7529 votes, while the candidate of the Accord Party, Hon. Lawal Nalado polled 14,152 votes.

Afenifere Condemns Attacks on Igbos During Election

MONDAY FEBRUARY 25, 2019 ˾ T H I S D AY

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APC Spokesman, NDDC Boss Deny Possessing Arms, Snatching Ballot Boxes Emmanuel Addeh in Yenagoa Deputy National spokesman of the All Progressives Congress

(APC), Mr. Yekini Nabena, yesterday refuted reports that he was apprehended with arms and ammunition by soldiers

IG Advocates Technology as Key Driver to Improve Community Policing Ugo Aliogo The Acting Inspector General of Police (IG) Mohammed Adamu, has stated that there is need for increased adoption of technology as a key driver to improving community policing in the country. Adamu disclosed this in Lagos at the graduation ceremony of officers of the Nigeria Police Force (NPF) who bagged profession executive diploma in crime prevention and community safety organised by Halogen Academy in partnership with Elizade University. He stated that due to the increased use of technology in perpetuating crimes, the NPF has bought into the idea of training officers of the force in professional executive diploma in crime prevention and community safety. Adamu, who was represented at the event by Assistant Inspector General, Training, Femi Folawiyo, noted that they are very much interested in the diploma, as a result they are in support of the programme and they are committed in partnering with Academy Halogen to multiply the trainees. He said some of the officers would be posted to some communities.

“The influence on those communities will be positive. Next time, we will multiply it so that we can have bigger number to be able to train others and also, we will have plenty officers that can be deployed. Cyber is activated and dependent on technology. If you don’t interface with technology, you are not in the cyber business,” he said. Earlier in his remarks, the Group Managing Director, Halogen Group, Mr. Wale Olaoye, noted that in the area of crime control, there is need to accelerate learning and build capacity in order to address the security challenges. He expressed hope that universities would bring combine theory and practice to help impact the work of officers of the law enforcing agencies in the country. According to him, “the first purpose first is to address capacity and knowledge gap in a changing world. Like I did say why do you bring practice and theory together, if you demonstrate that you want to see the impact the way they develop. We will track the performance of our people. The first set graduated last year, this is second batch and we appreciate the wisdom of Nigeria Police Force (NPF) to allow their men to partake in this programme.

Shoremekun, showed that the PDP candidate won in Irele, Ondo East, Akure North, Idanre and Ifedore LGAs. Also, the PDP was leading in Ose, Ile-Oluji and Okitipupa LGAs. On the other hand, the APC candidate, President Muhammadu Buhari was leading in Akoko North East, Akoko North West, Akoko South East, Akoko South West, Owo and Odigbo LGAs.

Again, Boroffice Wins Senate Seat James Sowole in Akure For the second time since the beginning of Fourth Republic, Ondo State yesterday produced a third term Senator in the person of Professor Ajayi Boroffice. The first person that was elected for a third term was Senator Gbenga Oguniya, who was in the upper chamber of the National Assembly from 1999 to 2011 when he represented Ondo Central. Boroffice had been in the Senate since 2011 when he was elected on the platform of Labour Party (LP). He however defected to the

Action Congress of Nigeria (ACN) before the end of his first term in office. The third term senator, who contested on the platform of the All Progressives Congress (APC), defeated other contestants by wide merging. In the results announced by the Independent National Electoral Commission (INEC) at the senatorial collation centre in Owo, Boroffice scored 53,199 votes to defeat Dr. Tunji Abayomi of the Action Alliance (AA) who scored 43,100 votes while the Peoples Democratic Party (PDP) candidate, Mr. Segun Alonge, scored 34,490 votes.

in Odi, Bayelsa State, during Saturday’s general elections. Nabena spoke in Yenagoa, the state capital even as the Acting Managing Director of the Niger Delta Development Commission (NDDC), Prof. Nelson Brambaifa, told journalists that he neither ordered nor personally destroyed ballot materials in Agbere, Sagbama Local Government Area (LGA) of the state. Their rebuttals came against the backdrop of allegations by

the ruling Peoples Democratic Party (PDP) in the state, that while Nabena was initially arrested and ordered to be released after making calls to Abuja, the NDDC boss started destroying materials when he noticed he was losing election in his polling unit. In an interview with journalists in Yenagoa, Nabena accused the state government of mobilising the soldiers against him because of a statement he released earlier in the day, but added that he

was allowed to proceed to his village to vote when nothing was found on him. “If I was arrested with arms, it should be easy for them to show the arms publicly that I was found with. These are all tricks being used by the government so that they can continue with their evil, but this time, the vote of Bayelsans must count no matter the threat. “I am not from Odi, I am from Sagbama, I went to my community to vote. I

only drove through Odi and there is a military checkpoint there. Let them prove that I was caught with arms. “It was a false alarm. By the way, we are the opposition here, so the governor has all the powers. The truth is that I was never arrested” he said. On his part, Chief Press Secretary to the NDDC boss, Ebiakpo Barle, while refuting the allegation, noted that it wasn’t logical that Brambaifa would destroy voting materials in his own area.

GIRLS CODING…

L-R: Founder/CEO, Girls Coding School, Mrs. Abisoye Akinfolarin; APC deputy governorship candidate in Lagos State, Dr. Obafemi Hamzat; APC gubernatorial candidate in Lagos State, Mr. Babajide Sanwo-Olu; and Consultant, Girls Coding School, Mr. Desmond Kajetan, during a visit of Sanwo-Olu and his running mate, to the learning class students of the school, in Alagomeji,Yaba, Lagos...recently

Buhari in Early Lead as Katsina APC Wins House Seat Francis Sardauna in Katsina President Muhammadu Buhari of the ruling All Progressives Congress (APC) was yesterday leading in his home State, Katsina. According to the results released by the Independent National Electoral Commission (INEC) from four Local Government Areas showed that Buhari polled 119,577 against Abubakar Atiku of the People Democratic Party (PDP) who

scored 30,601. The four LGAs are Daura, Matazu, Kurfi and Ingawa. The Returning Officer for the presidential election in the state, Professor Fatima Mukhtar, announced the results of the four LGAs last night. She said: “In Ingawa, Buhari polled 29,230, while Atiku of PDP scored 7,625. In Kurfi, Buhari got 25,074; Atiku while Atiku polled 9,175. “At Matazu Buhari got 27,625, Atiku of PDP polled

9,151 and in Daura, Buhari got 37,648 against Atiku of PDP who scored 4,650 votes”. As of the time of filing this report, the results of the remaining 30 LGAs were being awaited at the collation centre within the state INEC office in Katsina. In a related development, the APC candidate, Salisu Isansi, has been declared winner of the Katsina Federal Constituency. Isansi, according to the Returning Officer for the House

of Representatives election in the state, Dr. Godwin Ojochogu, polled 58,314 votes during the exercise to defeat his closest contender, Aminu Chindo, of PDP who polled 21,454 votes. Ojochogu however, gave the total vote cast as 87,622, while 3,039 votes were rejected. Isansi, who is going to the Green Chamber for the first time, defeated the incumbent member, Sani Danlami at the party’s primaries held last year.

APC Wins House Seat in Niger APCs Umar Mohammed Bago has won the mandate of his people to represent Chanchaga Federal constituency of Niger State for the third time. In the result of Saturday’s

election announced in Minna yesterday Umar Bago polled 39,391 votes to beat the Peoples Democratic Party (PDP) candidate, Alhaji Abubakar Audu Buba who

scored 17,869,000 while the ADP candidate, Ambassador Nma got 4,415. In Suleja federal constituency the APC candidate, Alhaji Abubakar

Lado polled 54,224 to pick the second term ticket while the PDP candidate, Mukhtar Iya, got 38,732 and the ACD candidate, Alhaji Yussuf Tagwai, got 37,319 votes.

INFLATION AS TAXATION WITHOUT LEGISLATION What this means is that in the Nigerian economy, there is no relationship between interest rates and inflation rate. A reduction in MPR would at least show a clear signal of the direction lending rates should go while at the same time discouraging banks from holding their excess funds in government securities and

other risk free instruments. The private sector has, therefore continued to groan under the very high cost of credit in Nigeria that seems to hold out irrespective of where inflation goes The point is that as a people we are yet to understand the phenomenon of inflation and how we

can use it to our collective and individual advantage. We continue to lose the opportunity to make adjustments to our pricing regime for some key commodities. We seem unresponsive to inflation trends and there is no conservation, no response, no reallocation of resources

or change in behavior, regardless of which way inflation goes. Elsewhere, it is seen as a monster that must be caged. The 40th American President, Ronald Reagan regarded unchecked inflation is as being “violent as a mugger, as frightening as an armed robber and as deadly as a hit man”.

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INEC Sacks Plateau Returning Officer The Independent National Electoral Commission (INEC) has sacked one of its collation officers, Prof. Musa Izam, assigned to Bokkos Local Government Area of Plateau State. Izam, a physics lecturer at the University of Jos, had earlier attempted to abscond without declaring the results of Saturday’s presidential and National Assembly elections but was apprehended by youths in the area, who forced him back to the collation centre. “We had to remove him

because he was drunk and could not perform the assignment,” Head, Voter Education, of INEC in Plateau, Mr. Osaretin Imahiyereobo, has said. He said that INEC had to act fast to avoid delay in the collation exercise. “We are waiting for him to come to Jos and explain why he behaved the way he did,’’ he added. Izam, who started the collation of the results brought from the local government’s wards yesterday, told party agents, INEC officials and

observers that he needed a little time to ease himself. The official, however, disappeared from the centre and took off to Jos. According to PDP chairman in Bokkos Local Government, Mr. Michael Abi, some youths, who saw Izam leaving the centre, quickly mobilised and chased him. “The youths chased him and caught up with him at

Maikatako near Kuba, about 40 kilometres away from Bokkos. “When he was brought back to the collation centre, he quickly apologised and promised to continue with his work. “His attitude is shocking, considering the crucial nature of this assignment. “He has refused to work and this has delayed the collation and declaration of the outcome

of the presidential and National Assembly elections in the local government, ’’ he said. Former Plateau State Commissioner of Justice, Mr. Jonathan Mawuyau, who was at the centre, apologised to the angry party agents, INEC officials and observers, urging them to be patient with the official. Mawuyau, an APC stalwart, who agreed that the Professor’s

attitude was “shocking and uncalled for,’’ urged the anxious election officials to forgive Izam. But Izam, in an interview, denied ever absconding. “I only went to visit a friend in town but the people misconstrued the whole thing. “I only stepped out to go and see a friend along with the Special Adviser to Governor Simon Lalong on Security matters”

Abe Mourns Mowan Etete, Others Warns politicians against spilling blood The Senator representing Rivers South-East senatorial district in the National Assembly, Magnus Ngei Abe, has mourned the death of the former Chairman of Andoni Local Government Area and others who lost their lives in the ‘needless’ orgy of violence that marred Rivers State, warning politicians to avoid spilling human blood. Abe in a statement he personally signed last Saturday warned against playing politics of bitterness and spilling of blood. He stated that politics must grow beyond primitive level, even as he called for the arrest and prosecution of those behind the heinous murders of innocent Rivers men and women. According to the statement, “It is unbelievable that my friend and longtime associate, Hon. Mowan Etete, and other innocent Rivers people are dead today (Saturday) simply because they came out to answer the call of their country and perform their civic obligation. “I had warned repeatedly that we should not stoke the drums of war and Rivers people should no longer forgive any politician no matter how highly placed that is culpable in the orgy of violence that has characterised our recent past. “Our politics must begin to move beyond the primitive stage. No politician should continue to claim the power to deliver any unit not to talk of a ward, a

local government or a state. “We must imbibe the true spirit of democracy which means that the vote of the governor, the vote of the minister, the vote of the senator, commissioner and that of the chairman will have the same value as that of the bricklayer, driver, nurse and the unemployed youth. “No one should have the power to promise or guarantee the vote of one Nigerian to a third party. “If you are good to your people, you can appeal to them but you must respect their wishes where it differs from your own,” he stated. The statement further said L-R: Enugu State Chairman of Trade Union Congress of Nigeria (TUC), Igbokwe Chukwuma Igbokwe; Chairman, Nigeria Union of Pensioners, the murder of Mowan and Damian Udeani; TUC Secretary, Bennett Asogwa; and Enugu State Governor, Hon. Ifeanyi Ugwuanyi, during a thank-you visit to the governor other men and women must at the Government House, Enugu…recently be treated as the heinous crime that it is. “It is not just the gunmen but those behind the scenes who planned and orchestrated that violence must also the front”, he called on their biddings contrary to the over the incident. be brought to book,” the Emmanuel Addeh in Yenagoa the Independent Electoral code of conduct guiding its He said his administration senator stated. would set up a Commission He maintained that Rivers Governor Seriake Dickson of Commission (INEC) to reject operations. “I have all the evidence of of Inquiry to investigate the State must grow beyond the Bayelsa State yesterday vowed to results from the affected areas politics of blood, saying: personally lead a demonstration to promote the integrity of the the illegalities a general and his political killings and other “We can no longer allow our over alleged election rigging Commission and the electoral men were perpetrating against offences committed during the legitimate voters who were only 2019 general election. dear state to be a byword in some parts of the state last process. “So, I am not only alerting asking to exercise their franchise Meanwhile, INEC has said for electoral violence and Saturday. it was yet to begin collation of Dickson, who called for the our people at the state and ward freely and peacefully. bloodshed in the comity “From all available intelligence, results of elections from LGAs review of polls in Bassambiri, levels, I am telling the people of states. “As we speak, we are Oluasiri, Opu Nembe, Agbere, of Bassambiri not to accept this our state is under attack. They in the state due to the terrain. shot and terrorised our people Head of Department, INEC yet to ascertain the exact Oweikorogha, Apoi, Azuzuama and they have my support. “For us, we will not accept in Bassambiri and carted away Voter Education and Publicity, number of Rivers men and and Korokorosei, maintained that women who were murdered there were hardly any elections this. I will lead demonstrations election materials meant for seven Mr. Wilfred Ifogah, told in the name of elections. in those areas. and protests aimed at vindicating wards” he said. journalists yesterday that the We have to confront the Dickson expressed commission was also conducting Speaking yesterday during the democratic rights of the situation as a community a media chat in Yenagoa, the people. Anybody who has sadness over the shooting supplementary polls in 39 units and put a stop to it. No governor alleged that a party been unfairly treated has a of a Government House in Ogbia and Sagbama LGAs. perpetrator should go in the state took electoral right to express themselves, Photographer, Reginald Dei “The elections in those unpunished.” and murder of PDP Ward areas were rescheduled due officers hostage at Darius Hotel, but peacefully,” he said. The governor lamented that Chairman, Mr. Seidougha Taribi, to Smart Card Reader (SCR) Bassambiri, describing it as an the Nigerian Army allegedly took In Oweikorogha community and malfunctioning and mix-up act of terrorism. Vowing to “ lead from directives from politicians to do sympathised with their families in some units,” he said.

THANK-YOU VISIT…

Dickson Calls for Protests over ‘Rigged’ Bayelsa Polls INEC reschedules elections in 39 units

Atiku Leads in Five Oyo LGAs Kemi Olaitan in Ibadan The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, was leading President Muhammadu Buhari of the ruling All Progressives Congress (APC) in the results of five Local Government Areas (LGAs) so far announced by the returning officers at the State Coalition Centre of the Independent National Electoral Commission (INEC) in Ibadan, the Oyo State, capital. Present at the event presided over by the state Returning Officer, Prof. Abdulkariim Sulaiman Age, who is also the Vice Chancellor of University of Ilorin, include the state Resident Electoral Commissioner (REC), Mr.

Mutiu Agboke; the state Commissioner of Police, Mr. Shina Olukolu, the state Director, DSS, among others. In the results declared Atiku won Afijio LGA with 8,325 votes while Buhari scored 6,874 votes. In Saki East LGA, Atiku scored 5,883 votes and Buhari 5,730. In Kajola LGA, Atiku had 12,282 votes, Buhari scored 11,665. Also in Ibarapa North LGA, Atiku scored 9,070 votes and Buhari 6587. Atiku similarly led with 10,346 votes in Ibarapa East LGA with Buhari scoring 7964 while in Itesiwaju LGA, Atiku had 7,010 votes and Buhari 6,193. Also in Iwajowa LGA, Atiku had 7,477 votes with Buhari scoring 6,528.

Buhari Defeats Atiku in 10 Kano LGAs Ibrahim Shuaibu in Kano All Progressives Congress (APC) candidate in last Saturday’s presidential election, President Muhammadu Buhari, is leading in 10 out of the 44 local government areas in Kano State. In Tofa Local Government Area (LGA) of Kano State, the returning officer for the Dr. Mohammed Murtala, announced that the APC Presidential candidate scored 19,984 while that of the PDP scored 7,732 votes. He also announced that the APC candidate for the Kano North senatorial district scored 16,794, while that of the PDP

scored 10,746 and PRP got 397 votes. In Madobi LGA, the constituency of Senator Rabiu Musa Kwankwaso, failed to deliver Atiku Abubakar as the party secured 13,111 while Buhari scored 26,110. At Garun Malam LGA, the returning officer for the presidential election, Professor Dahiru Sani-Shuaibu, said the APC candidate scored 23,810 while the PDP scored 4,861 votes. Also in Bagwai LGA, the returning officer for the Senate and House of Representatives from the local government area, Dr. Umar Abbas, said the APC senatorial candidate for Kano

South scored 18,412 while that of PDP scored 8,548 votes. He further announced that the APC candidate for the House of Representatives scored 18,029 while the PDP candidate scored 8,262 votes. In Kunchi local government area of the state, Buhari scored 20,375 while Atiku got 4,983. However, at Gabasawa local government area, Buhari of APC scored 24,420, while the PDP candidate scored 6,130. In Bunkure LGA, the APC secured 7,232, while PDP got 9,528 in the presidential election. In Rimi Gado LGA, Buhari scored 20,589 and PDP presidential candidate secured

10, 305, while in Karaye local government area, the APC presidential candidate scored 23,023 and PDP presidential candidate secured 8,265. In Dawakin Tofa LGA, the local government area of the state Governor, Abdullahi Umar Ganduje, the APC presidential candidate scored 37,417 while the PDP presidential candidate secured 6,507. THISDAY at INEC headquarters in Kano learnt that result was still trickling in in batches for the presidential election at the time of filling this report while the senatorial result would be announce at three senatorial districts

MONDAY FEBRUARY 25, 2019 ˾ T H I S D AY

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Obiano Loses Own LGA to PDP David-Chyddy Eleke in Awka The Governor of Anambra State, Chief Willie Obiano, has lost his Local Government Area, Anambra East, to the Peoples Democratic Party (PDP) in the presidential election held on Saturday. Obiano is the national leader and chairman board of trustees of the All Progressives Grand Alliance(APGA), which also fielded a presidential candidate, Gen. John Gbor

(rtd) for the 2019 election. Obiano was alleged to be supporting President Muhammadu Buhari of the All Progressives Congress(APC), but he denied the allegation, saying that his party was fielding a presidential candidate, and he was committed to delivering him. But from results announced by the local government collation officer for Anambra East LGA, Prof Boniface Ekechukwu, APGA scored

a total of 3,027 votes out of the total number of accredited voters of 26,607 in the LGA where the governor is deemed to be very popular.

Though many still believe that Obiano was still committed to delivering President Buhari in the election, but from the results

declared, APC scored 6,755 votes in the election. The candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar,

and his running mate, Mr. Peter Obi however polled 13,422 to emerge victorious in the local government area.

Buhari Leads in Five Lagos LGAs Segun James The presidential candidate of the All Progressives Congress (APC), President Muhammadu Buhari was leading in the five Local Government Areas (LGAs) in Lagos State whose results were announced last night. President Buhari won in all the five local government council areas collated. The LGAs include Epe, Apapa,

Lagos Island, Ikorodu and Ibeju-Lekki. However, the figures showed voter apathy as voters’ turnout was low. There is however confusion as the figures being reeled out by the collation officers did not tally. This development forced the Resident Electoral Commissioner (REC), to ask the collation officers to go and reconcile their figures.

Atiku Wins 10 LGAs, APC Picks Two House Seats in Abia Orji Uzo Kalu wins senate seat Emmanuel Ugwu in Umuahia The Abia State office of the Independent National Electoral Commission (INEC) has collated presidential election results in 12 LGAs with the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar winning in 10 LGAs, while President Muhammadu Buhari won in two. Results from the five remaining local governments were still being expected.

Also former Governor Orji Uzor Kalu of APC polled 31, 203 votes to defeat Senator Mao Ohuabunwa of the PDP, who polled 20, 801 votes in Abia North senatorial election. APC also picked two House of Representatives seats so far declared. Mr. Benjamin Kalu of APC was declared winner of Bende Federal Constituency while Hon Nkiru Onyejeocha won in Umunneochi/Isuikwuato Federal Constituency to retained her seat for the fourth consecutive term.

Enugu Elections Peaceful, Transparent, Say Observers A coalition of accredited independent observers for the presidential and National Assembly elections held in Enugu State, on Saturday, have expressed utmost satisfaction with conduct of the exercise in the state, describing it as “most peaceful, credible and free and fair”, devoid of “violence, irregularities, thuggery or snatching of ballot boxes”. Speaking to journalists at the Headquarters of the Independent National Electoral Commission (INEC), during the collation of election results from the Local Government Areas, the Coordinator of Civil Society in Enugu State, Samuel Onoja, while reacting to alleged irregularities by some National Assembly candidates and members of the All Progressives Congress (APC) in Enugu State, stated that there is no iota of truth in the allegations. Onoja said they were “shocked” by the alleged “fighting, thuggery, fake result sheets and all sorts of things”, stressing that the elections were “free and fair, transparent and peaceful”. According to him, “the

election in Enugu State has been free and fair. All the observers deployed to various polling booths, reported to me and we have not heard of any thuggrey, any snatching of ballot boxes. We have not heard of any problem. “I think the election held in Enugu State is more peaceful and transparent than in any other state in this country because we went round the state such as Nsukka, Agbani in Nkanu and Aninri. All the places we went to, I don’t think there was problem anywhere. “INEC are people that we respect and I will say kudos to them because this is the best INEC we have seen so far in this country”. When asked to comment on their general assessment of the election in the country, the coordinator said: “It is Enugu State that we have been posted to and it is only Enugu that I have observed the exercise, but from the report I received from other places, I know that there are places that there were little misunderstanding but I believe the INEC personnel, the SSS, the police and other security agencies did their job very well”.

90 HEARTY CHEERS…

L-R: Edo State Governor, Mr. Godwin Obaseki; his wife, Mrs. Betsy Obaseki; and Prof. Emmanuel Emovon, at the thanksgiving mass in celebration of Emovon’s 90th birthday, at St. Paul’s Catholic Church, Benin City…yesterday

Obaseki Visits Victims of Owina Primary School Attack, Calls for Calm Edo State Governor, Mr. Godwin Obaseki, has called for calm over an attack on members of the All Progressives Congress (APC) in Owina Primary School, in Ward 3, Oredo Local Government Area, while participating in the Saturday, February 23, Presidential and National Assembly elections. Obaseki who visited the victims of the attack at the Central Hospital in Benin City, on Sunday, vowed to work with security agencies to bring the attackers to book. He maintained that APC as a political party has a policy of non-violence, and tasked security officials to fish out the culprits.

“We are lucky, it could have been worse with more casualty and loss of lives. Thank God the victims are alive. We will get to the bottom of what happened at the voting center,” he assured. The governor added, “As I have always said, no drop of blood should be shed because of elections. Those who carried out this dastardly act would be fished out and dealt with according to the law. I have instructed the Commissioner of Police and other relevant law enforcement agencies to apprehend the culprits.” According to him, this is the third round of elections being conducted in Edo State since he assumed office, with no record of any violent incident.

“Before the end of my tenure by God’s grace, violence related to elections will be a thing of the past in the state.” Addressing journalists, Edo State APC Youth Leader, Mr Valentine Asuen, accused the thugs working for the People’s Democratic Party (PDP), led by one Rotimi Adams, popularly known as Shaba for carrying out the attack on members of the APC at Owina Primary School, with dangerous weapons, and inflicted various degrees of injuries on three persons. “We were attacked by one Shaba who alongside other thugs used dangerous weapons to injure our members who have been hospitalised. Some

of our vehicles were destroyed and the governor has asked us to remain calm,” Asuen added. Governor Obaseki sent all political thugs and touts on early retirement on assumption of office, when he stripped Shaba and several other thugs of the powers to collect revenues for local councils in the state. According to reports, the notorious thug, Shaba, has spearheaded similar attacks in the past, the most popular being when he led gunmen to unleash mayhem on legislators in their quarters in Benin City, during the Adams Oshiomhole’s administration, after which he was arrested and remanded in prison custody.

Kogi PDP Warns Gov Bello, INEC against Upturning Party’s Victory Yekini Jimoh in Lokoja The Kogi State chapter of the Peoples Democratic Party (PDP) Presidential Campaign Council (PCC) has warned the state Governor, Yahaya Bello, and the Independent National Electoral Commissioner not to test the will of the Kogi people by upturning the wishes and aspiration of the people as reflected in yesterday’s elections. In a statement issued yesterday by the Secretary of the PDP PCC, Bode Ogunmola, he said the PDP, having won in the presidential, all senatorial districts and federal constituencies elections is worried that the governor

working in connivance with INEC is manipulating the results. The PDP PCC posited that the party’s presidential candidate won landslide in the state, saying the party’s victory in the three senatorial districts and nine federal constituencies is a matter in the public domain, as he warned against tempering with the results. The PDP pointed out that all polling units results is in its possession, as gotten through its agents, certified by all the returning officers and put the PDP in the lead in the elections, lamenting that presently Governor Bello is fraudulently trying to change

figures to suit his whims. The PDP PCC said Senator Dino Melaye has not only won in seven local government areas of the constituency and in the three federal constituencies, the party disclosed further that it has equally won in two out of the federal constituencies in the West, Lokoja Kogi and Kabba Bunu Ijumu, warning against tempering with the peoples will and wishes. The opposition party disclosed that having made a good showing in the East, the governor is working with INEC and security personnel moving from collation centres all in an attempt to frustrate the decision made by the people, warning the governor not to

set the state on fire with his desperation. The PDP PCC stated that the fraudulent election in the Central senatorial district where results were fraudulently written cannot stand, adding that it has evidence of widespread malpractice where results were just entered into form ECA on the governor’s prompting. It therefore call on the state REC, Prof James Apam, not to allow himself to be used, warning that changing figures and results has begun which he said is being contemplated by the APC-led administration, describing it as a recipe for ceaseless crisis if not checked.

PDP Wins Oredo House Seat Adibe Emenyonu in Benin Cit Omoregie Ogbeide Ihama of the Peoples Democratic Party (PDP) was yesterday

declared the winner of Oredo Federal Constituency seat of Edo State. He pulled 32,895 votes to defeat the APC candidate,

Hon. Tony Osaigbovo Iyoha, who scored 23,352 votes. Announcing the results, the Returning Officer, Prof. Elizabeth Omotunde

Ogbechukwu said “OgbeideIhama having met all requirements, is hereby declare him winner of the election”.

T H I S D AY ˾ MONDAY FEBRUARY 25, 2019

MONDAYSPORTS

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

FIFA U-20 WORLD CUP

Flying Eagles Draw USA, Ukraine, Qatar r S’Africa paired with Argentina, Portugal, S’ Korea Duro Ikhazuagbe

Nigeria’s Flying Eagles were yesterday drawn in Group D of the 2019 FIFA Under-20 World Cup in Poland along with reigning CONCACAF champions United States of America, Ukraine and Qatar. The Paul Aigbogun’s wards who finished as Africa’s fourth best team a fortnight ago in Niamey, Niger Republic were lucky to avoid host country, Poland in Group A of the 22nd edition of the tournament. The hosts are to battle Colombia, Tahiti and another African representatives, Senegal. Group B have Mexico, Italy, Japan and Ecuador in one pool. Honduras leads the teams in Group C with New Zealand, Uruguay and Norway as the others in the group. Winner of the U-20 AFCON, Mali is leading the pack in Group E with Panama, France and Saudi Arabia as the other teams in the fold, Africa’s fourth representatives, South Africa is in Group F. This Group F headlined by the tournament’s most successful team Argentina, Portugal and South Korea appears to be the ‘Group of Death’ of this edition as Argentina with record six World Cup titles under their belt could be South Africa’s most daunting challenge. . Flying Eagles will open their campaign against Qatar on May 24 in Tychy, before Group Group Group Group Group Group

clashing with USA three days later in Bielsko-Biala and then remain in the same city for their final pool match against Ukraine on May 30. Nigeria finished as runnersup at the FIFA U20 World Cup in 1989 (lost to Portugal in the final in Saudi Arabia) and in 2005 (lost to Argentina in The Netherlands), and won the bronze medals in the old Soviet Union in 1985 (when the Flying Eagles defeated the host nation on penalties in the third place match). The Flying Eagles defeated USA in the semi finals of the 1989 finals in Saudi Arabia, when two goals by Mutiu Adepoju settled the encounter and took Nigeria to a firstever final. Another of Nigeria’s Group D opponents, Qatar, shocked the world in 1981, when the country reached the final of the competition in Australia, only to lose to then West Germany. Poland will kick-off this edition on May 23 against Colombia in Lodz, the city to also host the final match on June 15. Bielsko-Biala, Bydgoszcz, Gdynia, Lublin and Tychy are other cities to all host at least two matches with a seeded team. FIFA legends Bebeto, who won the U-20 World Cup in 1983 and the FIFA World Cup in 1994; and Fernando Couto, who lifted the U-20 title in 1989, made the draw in front of numerous coaches and icons of Polish football. Speaking shortly after the

THE GROUPS AT A GLANCE A: Poland, Colombia, Tahiti, Senegal B: Meixco, Italy, Japan, Ecuador C: Honduras, New Zealand, Uruguay, Norway D: Qatar, Nigeria, Ukraine, USA E: Panama, Mali, France, Saudi Arabia F: Portugal, Korea Republic, Argentina, S’Africa

LET: Oboh Finishes 27th in SA Masters, Heads to Australia Olawale Ajimotokan

Georgia Oboh made a huge lift on the Ladies European Tour (LET) by finishing in 27th place at the South African Women’s Masters in Durban at the weekend. It was the first cut on the LET by the Nigerian and will be an impetus as she heads for Australia for the ActewAGL Classic at the Royal Canberra Golf Club this week. Oboh was on the verge of missing the cut at the San Lameer Golf Club, Durban, until she rallied to make the weekend draw by producing a day two round of 73 after an opening 80. She eventually ended in 27th position out of the 76 field of players.

South African Leján Lewthwaite, who stepped up to the Sunshine Ladies Tour winner’s circle with a dramatic play-off victory over young GolfRSA amateur Kajal Mistry, won the South African Masters. The outing in Durban was an improvement on the tour for the 18-yearold player and she will be hoping to improve on that by making a big impression in her maiden event of the season at the ActewAGL Classic in Canberra Oboh became the first Nigerian lady professional golfer on the LET after scaling through the qualifying school at the Lalla Meryem Tour School in Morocco in December last year.

Draw Ceremony, Bebeto said: “The FIFA U-20 World Cup in 1983 was one of the highlights

in ‘Group of Death’

of my career. Not only because of the matches but also because of the atmosphere,

the stadiums and the whole event. As a country with a great footballing history

and tradition, Poland will undoubtedly stage a fantastic tournament.”

Manchester City Captain Vincent Kompany lifts high the 2019 Caraboa Cup after Raheem Sterling scored the last kick of the shoot out

Man City Beats Chelsea on Penalties to Win Carabao Cup Manchester City won the Carabao Cup 4-3 in a penalty-shoot out at Wembley yesterday after Chelsea goalkeeper Kepa Arrizabalaga defied manager Maurizio Sarri’s attempt to substitute him. City claimed the first major trophy in their four-pronged assault on silverware but this stale final, which was goalless after extra-time, will be remembered for an almost unprecedented challenge to Sarri’s authority by Arrizabalaga. The £71m Spanish keeper, Chelsea’s club record signing, had been struggling with cramp in the closing stages of extra-time and Sarri decided to send on substitute Willy Caballero, who saved three penalties in a shootout to help

Manchester City win this trophy against Liverpool in 2016. Arrizabalaga refused to come off and Sarri backed down in a rage, before his misery was completed as City won the shootout, with Raheem Sterling scoring the winning penalty. Ilkay Gundogan, Sergio Aguero and Bernardo Silva scored from the spot for City and even though Arrizabalaga saved from Leroy Sane it was to no avail. Jorginho’s spot kick was saved by Ederson and David Luiz hit the post as Chelsea were sunk, despite Cesar Azplicueta, Emerson and Eden Hazard converting their kicks. Manchester City retained the trophy but Arrizabalaga’s

insubordination will be the headline story. The scenes inside Chelsea’s dressing room hardly bear thinking about after the chaos of those closing moments at Wembley. Arrizabalaga’s point-blank refusal to be replaced by Caballero led to furious exchanges between Sarri and his technical staff, with the Italian looking at one stage as if he would storm away and leave his Chelsea players to it for the conclusion. He eventually returned but blazing with fury. Antonio Rudiger then restrained Sarri as he appeared set on confronting Arrizabalaga after his one-man rebellion. Of course, the goalkeeper

was seriously at fault, showing his manager a complete lack of respect in ignoring his demands. What, however, does this say about Sarri’s authority and rule at Stamford Bridge that he backed down instead of demanding the goalkeeper obey his demands? The sad aspect was that this was a tactically sound and spirited Chelsea display, in sharp contrast to the 6-0 mauling at Manchester City on 10 February. Chelsea grew into the game and consider themselves unfortunate to lose in this manner - but the ramifications of those closing moments will reverberate around Stamford Bridge and could have very serious consequences for both Sarri and his goalkeeper.

Iheanacho, Ndidi to Get New Coach as Leicester Fires Puel Nigeria internationals Kelechi Iheanacho and Wilfred Ndidi are set to get a new coach at Leicester City following the dismissal of Frenchman Claude Puel yesterday. The handwriting was on the wall that Puel was the next Premier League coach to be sacked following Leicester City’s poor run of results with six losses in their last seven games in all competitions and the 4-1 defeat to Crystal Palace on Saturday was the final straw for the Foxes higher ups. Super Eagles Head Coach, Gernot Rohr has an excellent relationship with Puel and the German admitted that he was in touch with the former Southampton coach over the striker’s lack of first team opportunities before the 2018 World Cup. ‘’Leicester City Football Club

has today (Sunday) parted company with Claude Puel, who leaves his position as First Team Manager with immediate effect,’’ Leicester City said in a statement on its website. “The club would like to thank Claude for his efforts in leading the team during his 16 months in the role and wish him well in his future career.’’ Puel, 57, leaves the club 12th in the Premier League having lost five of their last six league games. The Frenchman guided Leicester to a ninth-place finish in the Premier League in his first season but the club are now looking for their fourth permanent manager in 23 months. Assistant manager Jacky Bonnevay will also leave the club, with first-team coaches Mike Stowell and Adam Sadler set to take temporary charge of

the squad. Leicester’s next game is at home in the Premier League against Brighton on Tuesday. Puel was appointed on a three-year deal in October 2017, succeeding Craig Shakespeare who in turn followed 2015-16 Premier League winning manager Claudio Ranieri in managing the club. The former Lyon boss had been dismissed by Southampton in June 2017 and arrived at Leicester four months later with the club third from bottom of the league. He led them to ninth in the table, just their second top-10 finish in the Premier League since 2000. This season, Leicester have won nine of their 27 league matches, including back-to-back victories over Manchester City and Chelsea over the festive

period. But Puel’s style of play and recent team selections have been met with hesitation from Foxes fans. Puel incensed some fans by fielding a weakened side against Manchester City in a Carabao Cup quarter-final defeat, with James Maddison and Marc Albrighton starting on the bench, while Jamie Vardy did not feature at all. The Foxes’ 2-1 FA Cup defeat at Newport came after Puel made seven changes to his side - with Maddison and Vardy named on the bench - despite choosing five Premier League winners in the starting XI. Striker Vardy, who has scored eight Premier League goals this season and is the club’s highest goal scorer this campaign, recently admitted that Puel’s tactical approach did not suit his style of play.

FA CUP 55

T H I S D AY ˾ MONDAY FEBRUARY 25, 2019

MONDAYSPORTS PREMIERSHIP…PREMIERSHIP…PREMIERSHIP

Liverpool Grabs a Draw at Old Trafford to Move to the Top Liverpool got the point they needed to return to the top of the Premier League but were left frustrated by their failure to break down a Manchester United side that was ravaged by injuries. A draw at the home of their fiercest rivals would usually be seen as mission accomplished for Jurgen Klopp’s side, but this has to go down as something of a wasted opportunity to get some daylight over nearest rivals Manchester City. Injuries to three midfielders meant United were forced to use all of their substitutes in a bizarre 25-minute period before half-time with one of them, Jesse Lingard, quickly being replaced himself. Liverpool did not escape unscathed, with Roberto Firmino only lasting until the half-hour mark, and without

him his side struggled to pose any sort of threat in front of goal in what was was a typically intense encounter. The constant disruptions made for a disjointed first half and neither side could truly find their rhythm after the break - although the lack of quality did not affect the raucous atmosphere throughout. Klopp’s side failed to truly test United keeper David de Gea, with a shot from distance by Firmino’s replacement Daniel Sturridge their only shot on target in the 90 minutes. United had the best chance of the game, but Alisson brilliantly denied Lingard after he ran on to Romelu Lukaku’s pass and attempted to go around the Reds keeper. The hosts thought they had

stolen victory near the end when Liverpool defender Joel Matip put through his own net from a free-kick, but

Chris Smalling was adjudged offside in the build-up. With Manchester City in action in the Carabao Cup

final on Sunday, the result means Liverpool move a point ahead of them with 11 games to go.

United dropped to fifth place, with Arsenal leapfrogging them with their win over Southampton.

Arsenal Regains Top Four Spot Arsenal punished struggling Southampton with two first-half goals to move back into the top four of the Premier League. The Gunners led when Alexandre Lacazette reacted quickest to turn in Henrikh Mkhitaryan’s shot, with the Saints’ claims for offside proving futile. And they doubled their lead shortly after when Mkhitaryan drilled a shot into the bottom corner. Arsenal should have scored more in a dominant first half, but ultimately it mattered little as those goals were enough to move Unai Emery’s side above Manchester United, who drew at home to Liverpool. Saints, who missed good chances through Nathan Redmond and Matt Targett before each of Arsenal’s goals, offered more resistance after the break. But they remain in the bottom three, a point adrift of fourth-bottom Cardiff, after failing to win for a fourth successive league game. Arsenal have struggled for consistency under Emery in the

second half of the season, alternating between wins and defeats in each of their 10 previous matches before Southampton’s visit. In truth, anything other than a home win against the Saints looked unlikely. However, Emery may be concerned with his side’s inability to demolish their lowly opponents. The Gunners looked potent every time they burst forward, particularly in the first half, and in the closing stages, against a Southampton side which looked fragile at the back. Lacazette was allowed the space to turn in the opener, with the visitors’ defence unorganised and too concerned about appealing for offside, for his 13th goal of the season. After Mkhitaryan doubled the lead, the France striker should have added another but somehow scooped over the bar from a few yards out. Arsenal’s dominance was illustrated by the 11 shots which they attempted in the first half, nine of which came from inside the Saints area

Bolton Owner Agrees Deal to Sell Club Bolton Wanderers has said that an “agreement in principle” has been reached for owner Ken Anderson to sell the club. BBC Sport understands the consortium is led by businessman Parminder Basran, alongside businesswoman Sharon Brittan and entrepreneur Jeff Thomas. The Championship side is scheduled to appear in the High Court on 20 March after being issued with a winding-up petition by HM Revenue & Customs. “A period of due diligence has now begun,” said a Bolton statement. “Once this process has been completed and the requirements of the EFL have been satisfied a further announcement will be made to supporters.” Anderson owns 94.5% of club through his Inner Circle company and said in January that he was “doing his utmost” to find a buyer amid fan protests. Basran is the founder of investment firm VGC Partners

and runs a private equity fund backed by Eduardo Savarin, one of the co-founders of Facebook. The club was placed under a registration embargo in January, meaning an agreed permanent deal for on-loan Forest Green striker Christian Doidge collapsed. The subsequent disagreement between the clubs led to Forest Green selling “No Ken Do” T-shirts - in reference to Anderson - with all profits going to the Championship club’s Supporters’ Trust. Anderson first bought a stake in the club during a takeover in 2016 along with former striker Dean Holdsworth, taking majority control the following year after acquiring Holdsworth’s company’s shares after it went into liquidation. Bolton was beaten 2-1 by Leeds United on Saturday which left the team second-from-bottom of the Championship and four points from safety.

Frenchman Alexandre Lacazette (right) races away in delight after putting Arsenal ahead after just six minutes against Southampton

Anthony Joshua Queries Why Wilder Chose to Fight Fury British heavyweight Anthony Joshua was filmed in jubilant mood on his Instagram story on Saturday. He was seen singing Neil Diamond’s ‘Sweet Caroline’ while throwing napkins in the air in a restaurant. During his trip to America, Joshua also questioned Deontay

Wilder’s decision to fight Tyson Fury. ‘I’m going for all of the belts. I’m not going to stop at this one now when I’ve come so far,’ Joshua told ESPN. ‘Forget the money, who would I rather fight, Wilder or Fury? I’d rather fight Wilder because it’s an opportunity to

fight for the belt. ‘He had the opportunity for April 13, he had already fought Tyson Fury. He had a draw and now he has the opportunity to fight whoever he wants. ‘He chose to fight Tyson Fury. There’s a question you have to ask him - why isn’t this fight with me happening?

‘He chose to fight Fury as an easy touch when he could have fought for legacy and history on April 13 for the undisputed championship of the world.’ Joshua will put his IBO, IBF, WBA and WBO titles on the line against Jarrell Miller at Madison Square Garden on June 1.

LMC Postpones NPFL Match-day 11 Midweek Fixtures In anticipation of fallout from the Presidential and Federal Legislative election final results due to be announced by Independent Electoral Commission today, the League Management Company (LMC), organisers of the Nigeria Professional Football League (NPFL) has postponed all the matches due for mid week. The fixtures are Match-day 11 fixtures and are scheduled to hold on Wednesday 27 February

across the league centres. THISDAY learnt that LMC’s Chief Operating Officer (COO), Mallam Salihu Abubakar, sent the notice of the postponements to the clubs late last night, stressing that a new date for the fixtures would be communicated to them in due course. The postponement may not be unconnected with the tension likely to be generated by the delay in announcing the results of the polls conducted

last Saturday. “There is tension in the land and we have to keep the players, fans of various clubs safe just as anything that will affect the flow of the matches must be resolved instead to going with the risks involved,” a top official of the LMC said in a telephone interview last night. With uncertainty on when the league will resume, stakeholders may be in for another round of inconclusive season for the

Joshua (left) will put his world titles on the line against Jarrell Miller at Madison Square Garden in June

second time running unless the political tension in the land eases out. The outgoing season is an abridged one expected to be concluded early in the summer before the Africa Cup of Nations (AFCON) tournament in Egypt kicks off mid June. As at yesterday, MFM FC is leading the pack in Group A while IfeanyiUbah and ElKanemi Warriors are leading the charge in Group B