Issuu

PDP Protests Selective Use of Card Readers in Northern States INEC's results full of discrepancies, says Situation Room

Onyebuchi Ezigbo in Abuja The Peoples Democratic Party (PDP), this morning vehemently protested what it called selective use of Smart Card Readers

(SCRs) in a significant part of Northern states, saying since it was a breach of the Independent National Electoral Commission’s guideline, the results of the presidential election

held last Saturday ought to be reviewed. Raising other sundry concerns about the conduct of the elections, including the deprivation of about 5.1 million voters

from participation due to cancellation of votes arising from card reader infractions and violence, the party called for the suspension of declaration of returns until its concerns are addressed.

The party’s concerns were expressed by its agent, Chief Osita Chidoka, who argued that since the 5.1 million restrained votes were more than the 3.9million votes margin of win scored by

President Muhammadu Buhari, it had become necessary to review the outcome of the election and consider the suspension of Continued on page 8

Shell: Nigeria’s Multi-billion Dollar Tax Claims May Delay Bonga Project ...

Page 9

Wednesday 27 February, 2019 Vol 24. No 8725. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

With Hefty Votes from North-west, North-east, Buhari Re-elected President Adedayo Akinwale in Abuja

… Page 9

Katsina

Zamfara

Buhari 438, 682 Atiku 125, 423

Kebbi

Buhari 1, 232, 133 Atiku 308, 056

Buhari 497, 914 Atiku 50, 763

Buhari 794, 738 Atiku 289, 895

Kano

Buhari 581, 552

Yobe

Jigawa

Buhari 1, 464, 768 Atiku 391, 593

Borno Buhari 836, 496 Atiku 71, 788

Atiku 154, 282

Buhari 612, 371 Atiku 218, 052

Adamawa

Buhari 308, 984 Atiku138, 184

Osun

Buhari 347, 668 Atiku 356, 817

Ebonyi

Buhari 90, 726

Ati ku 25 8,5 73

Delta

Buhari 221, 292 Atiku 594, 068

38 4, 7 52 u k Ati Imo

058

85, ari 98 Buh u 219, 6 tik A

Edo

Buhari 267, 842 Atiku 275, 691

Bu ha Ana ri 33 mbra , 29 8 Bu En Atik hari 5 ug Ab u 3 4, 4 u 55, 23 ia 553

Ondo

Buhari 580, 825 Atiku 448, 015

Benue

Atiku 218, 207

Lagos

Buhari 285, 894

Buhari 219, 231

Buhari 468, 555 Atiku 548, 665

Taraba Buhari 324, 906 Atiku 374, 743

Kogi

Ekiti

ye l

Atiku 194, 655

Buhari 289, 903

Atiku 283, 847

Buhari 347, 634 Atiku 337, 377 Atiku 154, 032

Buhari 281, 762

Nasarawa

Atiku 259, 997

Cross River

Buhari 117, 302 Atiku 295, 737

A'Ibom

Buhari 175, 429 Buhari 150, 710 Atiku 395, 832 Buhari 118, 821 Atiku 197, 933 Atiku 473, 971

Ogun

Buhari 152, 224

Riv

Buhari 365, 229 Atiku 366, 690

Plateau

FCT

Kwara

Oyo

Buhari 402, 961 Atiku 138, 484

Buhari 798, 428 Atiku 209, 313

Buhari 993, 445 Atiku 649, 612

Niger

Gombe

Bauchi

Kaduna

Bandits Kill 45 in Sokoto, Kaduna

Buhari 490, 333 Atiku 361, 604

3 , 46 140 923 ari 34, Buhtiku 3

Continued on page 8

Sokoto

B Ati uhar ku i24 275 1, 7 , 90 69 1

Gathering jumbo votes from his North-west and Northeast strongholds, President Muhammadu Buhari of the All Progressives Congress (APC) this morning finally subdued his closest rival in last Saturday’s presidential election, Alhaji Atiku Abubakar of the Peoples Democratic Party (PDP). At the completion of collation of results this morning in Abuja, the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, said Buhari prevailed with 15,191,847 votes to Atiku’s 11,262,978, bringing to a close days of anxiety over the possible outcome of the contest many had thought would be close. “President Muhammadu Buhari having scored the highest number of votes is hereby declared the winner,” Yakubu said, adding that the certificate of return would be presented to the president-elect and the vice-president-elect at 2pm today. Out of the president’s haul, 9,234,434 came from the far North zones. Overall, Buhari put up a good showing, winning 19 states across four of the nation’s six geo-political zones. In his kitty were North-west, North-east, North-central and

Buhari 378, 078 Atiku 410, 266

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 27, 2019

WEDNESDAY, ͺͿ˜ ͺ͸͹΁ ˾ T H I S D AY

PAGE EIGHT PDP PROTESTS SELECTIVE USE OF CARD READERS IN NORTHERN STATES the declaration exercise. Replying, the INEC Chairman, Prof. Mahmood Yakubu, said the commission was unable to accede to the request of the PDP because its assertions were not substantive, explaining that since declaration exercise was part of a process, the electoral body would examine the party’s observations and take it into consideration when reviewing the electoral process.

INEC's Results Full of Discrepancies, Says Situation Room

A coalition of Nigeria civil society group, The Situation Room, yesterday said it has observed serious discrepancies in some of the results of the presidential election so far announced by the Independent National Electoral Commission (INEC). The observer groups said it was compelled to state its position because some of the numbers/votes announced so far by the State Returning Officers at the INEC National Collation Centre, Abuja, in the on-going collation process, are raising concerns. In a statement issued by the Executive Director, Policy & Legal Advocacy Centre and Convener, Nigeria Civil Society Situation Room, Mr. Clement Nwankwo, the body said discrepancies affected a total of 513,214 in 27 states including Nasarawa, Kogi, Adamawa, Edo and the Federal Capital

Territory (FCT). It said considering the fact that there was simultaneous accreditation and voting, a careful look at some of the figures of accredited voters and the total number of votes cast showed discrepancies. It said: "The Nigeria Civil Society Situation Room (Situation Room) has been observing the national collation and announcement of the presidential election results for the election conducted on 23 February 2019. "As at 6:47pm Tuesday 26th February, the discrepancy was a total of 513,214 in 27 states, including Nasarawa, Kogi, Adamawa, Edo States and the FCT. Situation Room calls on INEC to transparently address this confusion before the completion of result tabulation." Situation Room also said that there is lack of clarity on the rationale for the cancellation of huge numbers of votes by INEC. According to the group, "There is a lack of clarity in the rationale for cancellation of polls. We have recorded 1,084,358 cancelled votes across 1,175 polling units in 18 states. The pattern of this cancellation requires some close interrogation to show fairness and objectivity. "The reasons provided for the cancelled votes include over voting, card reader malfunction and violence. Situation Room demands that INEC provide clarification on

rationale and compliance with its Guidelines regarding cancellation of polls. Accusation that these cancellations may have been contrived to suppress votes need to be taken seriously and addressed before the close of tabulation. "Situation Room calls on INEC to address the discrepancies in the vote tally and provide cogent explanations for the rejected votes and clearly clarify what amounts to cancelled votes." On claims of duress by INEC officials, the Situation Room said that it observed that INEC officials and ad-hoc staff serving in varying capacities have alleged harassment and intimidation in the course of the collation process and undue pressure in the announcement of results. It gave example of the Returning Officer for Imo West Senatorial District, Prof. Francis Ibeawuchi, who disclosed that threats were made to his life, to ensure the return of the incumbent Governor of Imo State, Chief Rochas Okorocha, as the winner of the senatorial election in the district. Also, the Situation Room cited the incident in Ikwerre Local Government of Rivers State, where the Electoral Officer, Ms. Mary Efeture Imawuya, alleged that army personnel invaded the RAC Centre

of accredited voters was 601, 056, the total votes cast was 775, 449.” According to him, “This is a clear case of over-voting which, by the provisions of the Electoral Act, renders the election null and void. In such instance, the law provides for another election on a day to be fixed by INEC. “In Zamfara State, no actual voting took place and there was no single result sheet in any polling unit in the entire state. There was an arrest in Shinkafi local government, where an APC member was caught thump-printing ballot papers inside his house. “Results from the presiding officer from Zamfara were concocted and allocated according to the wishes of the leadership of the APC and INEC,” he alleged. Emphasising the opposition position, Turaki said: “The PDP therefore demands the outright deletion of the results from Zamfara from INEC records and a conduct of free, fair and credible presidential election in Zamfara State. “Also in Borno State, there was no election but a figure writing exercise and allocation of results according to the whims and caprices of the APC leaders. We also demand the outright deletion of the results from Borno from INEC records and a conduct of free, fair and credible presidential election in Borno State. “In Nasarawa, the PDP demands the immediate restoration of our over 157, 000 lawful and valid votes which were unlawfully and arbitrarily cancelled by INEC and the announcement of the actual results from the field. “Similarly, the PDP demands an immediate restoration of our over 79, 000 valid votes which were unlawfully cancelled by INEC in Kogi State and the announcement of the authentic results inclusive of the restored 79,000 votes.” Turaki stated further that “In the Federal Capital Territory (FCT), the PDP demands the restoration of 27, 000 valid votes unlawfully and arbitrarily cancelled by INEC and a declaration of the authentic result, inclusive of our restored 27, 000 votes. “In Plateau, the PDP demands the immediate restoration of our over 30, 000 lawful and valid votes, which were unlawfully cancelled, particularly in Jos North and the declaration of the genuine results as delivered at the polling units, inclusive of our 30, 000 restored votes.” Turaki said his party is therefore calling on Nigerians to disregard the results until INEC provides the data from the smart card reader accreditation at the polling units, conducts fresh election in Borno, Yobe and Zamfara States as well as restore PDP votes in Plateau, FCT, Kogi and Nasarawa States. “The PDP maintains that from the actual votes delivered at the polling units, which we all have, Nigerians clearly and unequivocally gave their mandate to Atiku Abubakar,” Turaki maintained. He was ignored as the electoral body proceeded with the exercise and concluded it this morning with the declaration of Buhari as the winner.

ABIA ADAMAWA AKWA IBOM

ANAMBRA BAUCHI BAYELSA BENUE BORNO

APC 794, 738 993, 445 1, 464, 768 1, 232, 133 581, 552 490, 333 438, 682 5,995,651

PDP 289, 895 649, 612 391, 593 308, 056 154, 282 361, 604 125, 423 2,380,465

WINNERS APC APC APC APC APC APC APC

STATES ADAMAWA BAUCHI BORNO GOMBE TARABA YOBE TOTAL

APC 378, 078 798, 428 836, 496 402, 961 324, 906 497, 914 3,238,783

PDP 410, 266 209, 313 71, 788 138, 484 374, 743 50, 763 1,255,357

WINNERS PDP APC APC APC PDP APC

PDP 356, 817 218, 207 138, 184 283, 847 218, 052 548, 665 1,763,772

WINNERS PDP APC APC APC APC PDP

NORTH-EAST

STATES BENUE KOGI KWARA NASARAWA NIGER PLATEAU TOTAL

APC 347, 668 285, 894 308, 984 289, 903 612, 371 468, 555 2,313,375

SOUTH-WEST STATES EKITI LAGOS OGUN ONDO OSUN OYO TOTAL

APC 219, 231 580, 825 281, 762 241, 769 347, 634 365, 229 2,036,450

PDP 154, 032 448, 015 194, 655 275, 901 337, 377 366, 690 1,776,670

WINNERS APC APC APC PDP APC PDP

APC 85, 058 33, 298 90, 726 54, 423 140, 463 403,968

PDP 219, 698 524, 738 258,573 355, 553 334, 923 1,693,485

WINNERS PDP PDP PDP PDP PDP PDP

PDP 395, 832 197, 933 295, 737 594, 068 275, 691 473, 971 2,233,232

WINNERS PDP PDP PDP PDP PDP PDP

Total

APC 175, 429 118, 821 117, 302 221, 292 267, 842 150, 710 1,051,396

FCT GRAND TOTAL

152, 224 15,191,847

259, 997 11,262,978

PDP APC

SOUTH-EAST STATES ABIA ANAMBRA EBONYI ENUGU IMO TOTAL

JIGAWA

DANLADI SANKARA SABO MUHAMMED IBRAHIM HADEJIA

APC APC APC

KADUNA

DANJUMA LA'AH SULEIMAN ABDUL-KWARI UBA SANI KABIRU GAYA BARAU JIBRIN IBRAHIM SHAKARAU

PDP APC APC APC APC APC

AHMED BABBA KAITA ABDULLAHI KABIR BIRKYA BELLO MANDIYA

APC APC APC

ADAMU ALIERO BALA IBN NA'ALLAH ABDULLAHI YAHAYA DINO MELAYE YAKUBU HOSSANI UMAR SULEIMAN SADIQ LOLA ASHIRU YAHAYA OLORIEGBE

APC APC APC PDP APC APC APC APC

LAGOS

SOLOMON ADEOLA OLUREMI TINUBU BAYO OSHINOWO

APC APC APC

NASARAWA

TANKO AL-MAKURA ABDULLAHI ADAMU GODIYA AKWASHIKI

APC APC APC

SANI MUSA SABI ABDULLAHI IBIKUNLE AMOSUN TOLU ODEBIYI AJAYI BOROFFICE AYO AKINYELURE AJIBOLA BASHIRU ADELRE ORIOLOWO FRANCIS FADAUNSI TESLIM FOLARIN ABDULFATAI BUHARI KOLA BALOGUN

APC APC APC APC APC PDP APC APC PDP

STATES AKWA IBOM BAYELSA CROSS RIVER DELTA EDO RIVERS

ENUGU GOMBE IMO

KANO

KEBBI KOGI KWARA

NIGER OGUN ONDO

SOUTH-SOUTH

APC APC APC

APC PDP

EBONYI

KATSINA

NORTH-CENTRAL

KASSIM SHETTIMA ALI NDUME ABUBAKAR KYARI

ROCHAS OKOROCHA EZENWA ONYEWUCHI

DELTA

EKITI

STATES JIGAWA KADUNA KANO KATSINA KEBBI SOKOTO ZAMFARA TOTAL

DOUYE DIRI ABBA MORO ORKER JEV GABRIEL SUSWAM

PARTY APC PDP APC PDP PDP PDP PDP PDP PDP YPP PDP APC APC APC PDP PDP PDP PDP

PDP PDP PDP PDP APC PDP PDP PDP PDP APC PDP PDP APC APC APC PDP PDP PDP APC APC APC

EDO

Z O N A L A N A LY S I S NORTH-WEST

WINNER ORJI KALU THEODORE ORJI AISHA DAHIRU ISHAKU CLIFF BINOS YARO BASSEY ALBERT AKON EYAKENYI CHRIS EKPENYONG UCHE EKWUNIFE IFEANYI UBAH STELLA ODUAH HALLIRU JIKA ADAMU BULKACHUWA YAYAHA GAMAU

GERSHOM BASSEY SANDY ONOR ROSE OKO PETER NWAOBOSHI OVIE OMO-AGEGE JAMES MANAGER MICHAEL AMA SAM EGWU OBINNA OGBA FRANCIS ALIMIKHENA MATTHEW URHOGLIDE CLIFFORD ODIA OPEYEMI BAMIDELE DAYO ADEYEYE OLUBUNMI ADETUNBI IKE EKWEREMADU CHIMAROKE NNAMANI CHUKA UTAZI AMOS BLUES DANJUMA GOJE SAIDU ALKALI

CROSS RIVER

Continued on page 9

WITH HEFTY VOTES FROM NORTH-WEST, NORTH-EAST, BUHARI RE-ELECTED PRESIDENT South-west, conceding 17 states and only South-east and South-south to Atiku. The states that gave victory to the president are Bauchi, Borno, Ekiti, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Osun, Sokoto, Yobe and Zamfara. His main challenger picked majority votes from Abia, Adamawa, Akwa Ibom, Anambra, Bayelsa, Benue, Cross River, Ebonyi, Edo, Enugu, Delta, Imo, Ondo, Oyo, Plateau, Rivers, Taraba and FCT. The closeness in the number of states won did not help Atiku as unlike Buhari he was unable to poll the big numbers from his South-east and South-south strongholds. Suffering severe cancellation of polls and results due to violence and Smart Card Reader (SCR) failures, Atiku could only poll 3,926,717 votes from his base. The rest of his ballots that came from Buhari’s comfort zones were too meager to help him carry the day. For instance, in Atiku’s stronghold of Rivers State, election could not hold in six of its 23 local government areas due a lock down by the military, leaving him with a mere 473, 971 votes. In the end, Buhari’s margin of win was 3, 928, 869 votes. Pained by the emerging outcome of the contest, the Deputy Director-General (Administration), PDP Presidential Campaign Organisation and former Minister of Special Duties, Mr. Tanimu Turaki (SAN), had at noon called on INEC to abort collation of result and address concerns of his party. He demanded that results from Yobe, Zamfara, Nasarawa and Borno States should be cancelled. He said the electoral umpire should stop the announcement of results until data from the smart card reader accreditation at the polling units are made available to all the parties in the election. Arguing that in line with his party’s commitment to a transparent, free and fair election, it demands for an immediate halt to the on-going collation of results by INEC. Turaki said: “The PDP predicates its demand on available evidence to the effect that data from the card readers are being reconfigured to suit the manipulations, rigging and overvoting already carried out during the election in some states by the APC.” According to him, the PDP National Chairman, Prince Uche Secondus has communicated the PDP position to the INEC Chairman, Prof. Mahmood Yakubu, saying “We have evidence from the smart card reader accreditation data that what is being announced by INEC has been seriously tampered with and manipulated. In the meantime, we demand the immediate and outright cancellation of presidential election results in Yobe, Zamfara, Nasarawa and Borno States as submitted by INEC presiding officers and ask for the conduct of fresh elections in these states.” The PDP chieftain pointed out that in Yobe, the total number of votes submitted as cast was more than the number of accredited voters, noting that “Whereas the number

2 0 1 9 S E N AT O R I A L W I N N E R S STATES

OSUN

RIVERS

BARI MPIGI

APC APC PDP PDP

SOKOTO

ALIYU WAMAKKO IBRAHIM GOBIR SHEHU TAMBUWAL

APC APC APC

TARABA

EMMANUEL BWACHA SHUAIBU ISA LAU

OYO

YOBE

ZAMFARA FCT

AHMAD LAWAN IBRAHIM GAIDAM IBRAHIM BOMOI ABDULZIZ YARI TIJJANI YAHAYA-KAURA PHILLIP ADUDA

PDP PDP APC APC APC APC APC PDP

WEDNESDAY, ͺͿ˜ ͺ͸͹΁ ˾ T H I S D AY

NEWS

Bandits Kill 45 in Sokoto, Kaduna John Shiklam in Kaduna and Onuminya Innocent in Sokoto

Bandits’ reign of terror has continued unabated in Sokoto and Kaduna States as 45 persons were reported killed yesterday. According to Sokoto State Governor, Alhaji Aminu Tambuwal, 16 persons were killed in a fresh banditry at Dalijan, Rakkoni and Kalhu communities in the Rabah Local Government Area of the state. The other 29 were reportedly killed by suspected Fulani herdsmen following a fresh attack on Karmai Village in Maro Ward, Kajuru Local Government Area of Kaduna State. Tambuwal spoke at a press conference in Sokoto and said the incident occurred on Monday night. Attacks by bandits, which started in the state on July 9 last year have led to the loss of 81 lives. The governor called on security agencies to intensify efforts at safeguarding the people’s lives and property. Commiserating with the victims and their families, Tambuwal prayed Allah to grant them the fortitude to bear the loss. On recent political developments in the state after the just-concluded presidential and National Assembly elections, Tambuwal expressed his concern that some politicians were indulging in do-or-die politics. The governor said the

situation had negated calls for peaceful campaigns and elections devoid of thuggery. He said: “During the elections, we experienced developments that clearly exhibited continued determination of the opposition to engage in do-or- die politics. “Leaders and loyalists of our party, the PDP were harassed, hounded and arrested by security agents even on the election day. “The opposition also engaged in post-election mayhem, with attacks and arson on law-abiding citizens.” He added: “Many properties and houses were razed in Wamakko and Kware towns as well as parts of Sokoto metropolis in a show of terror against perceived opponents and non-partisan members of the public.” According to him, many polling units identified as PDP strongholds had logistic and technical problems, which delayed balloting to very late hours. “We were aware of efforts to engage electoral officials and security agents by the opposition with a view to compromising their integrity. “These manifested through various machinations and techniques that included the late hour transfer of security officials and replacement of electoral officers.” He emphasised that his administration was committed to free and fair elections, conducted in a peaceful atmosphere and freedom. “Our concern is greater

Chief of Army Staﬀ, Lt-Gen. Tukur Buratai victory through winning ballot boxes. “Our objective for seeking your mandate is for service to the society rather than proving our strength as we demand chance for our people to choose or reject us in their own free will.” Tambuwal urged the populace to continue to be patient and law-abiding as more critical elections that had direct bearing to people’s lives were coming in the next few days. He appealed to the people to re-commit themselves to the democratic process, stressing that people should prepare to come out and elect leaders of their choice. The governor said the people should not allow ourselves to be intimidated or terrorised to the extent of failing to discharge their civic duties in the remaining elections, scheduled for March 9. Bandits Kill 29 in Kaduna In a related development, 29 people have been reportedly

killed by gunmen suspected to be Fulani herdsmen in a fresh attack on Karmai Village in Maro Ward, Kajuru LGA of Kaduna State. The attack was believed to be yet another reprisal over the recent killing of Fulani people in the area. The gunmen said to be in hundreds, were said to have invaded the community early yesterday (Tuesday) morning, shooting at people and burning houses. A source from the area who witnessed the attack, said the gunmen were dressed in military uniforms. The source added that the villagers attempted to repel the attackers, but could not withstand the superior fire power of the gunmen. “The gunmen came this morning - over hundred of them. They were fully dressed in military uniforms. Initially, our people attempted to repel them, but they couldn’t withstand the superior firepower of the Fulani,” he said. The source said further that mobile policemen, who later arrived at the community, could not contain the situation as they were overwhelmed and had to retreat. He said a vehicle of the “Operation Yaki,” the state government security outfit that conveyed the mobile policemen to the area, was burnt by the rampaging herdsmen. The source said: “Mobile policemen came but also retreated, one Operation Yaki vehicle was burnt by the bandits.

“Soldiers have been deployed in the community and are engaging the Fulani. Fighting is still going on. “Our people have been killed and our houses have been burnt. For now, it is difficult to say how many people have been killed until the situation is calm.” Former president of the Adara Development Association (ADA), Mr. Danladi Yarima, confirmed the attack, describing it as unfortunate. He called on the security agencies to act fast to stop the destruction of lives and property. A community leader in the area, who pleaded anonymity, put the casualty figures at 29 in a telephone interview with THISDAY in Kaduna. He said one mobile policeman was among those killed by the rampaging gunmen. According to him, some of the corpses were burnt beyond recognition, adding that some of the villagers were still missing. “We have recovered 28 corpses so far. Some were burnt beyond recognition. Several houses, including two Churches were burnt down. Some members of our community are still missing,” he said. He, however, said the situation is relatively calm following the deployment of more security personnel in the community. When contacted for his reaction via a text message, the spokesman

of the Kaduna State Police Command, Mr. Yakubu Sabo, said he would get back, but he never did at the time of filling this report. Efforts to reach him on phone yielded no result as the call was not connecting. The Kaduna State Government while confirming the incident, said it was saddened by the attack and called on the communities to remain calm. The state government, in a statement by Mr. Samuel Aruwan, spokesman to Governor Nasir el-Rufai, condemned the recourse to violence. It said: “The Kaduna State Government has today (Tuesday) received the sad news of renewed attacks in Kajuru and Kachia local government areas. “The government condemns this recourse to violence, and calls on all communities to support the efforts to restore calm in the area. “Today, the Kaduna State Government was briefed by security agencies of renewed attacks in Kajuru LGA, and in parts of neighbouring Kachia LGA. “The Kaduna State Government has been assured that the security agencies are working assiduously to contain the situation. “The government is saddened by these attacks, condemns the perpetrators and urges all residents of the area to support the security agencies in their efforts to protect communities.”

Shell: Nigeria’s Multi-billion Dollar Tax Claims May Delay Bonga Project Chineme Okafor in Abuja with agency report Royal Dutch Shell yesterday disclosed that the federal government’s recent claims that it owed Nigeria billions of dollars of unpaid oil and gas-related taxes could delay the development of its major oil field – the Bonga South West deepwater oil field located off the coast of the country. The federal government recently ordered several major international oil companies (IOCs) to pay nearly $20 billion in taxes it said were owed the government. Reuters quoted Shell as saying yesterday that the country’s tax claims lacked merit, and could see the Final

Investment Decision (FID) on Bonga South West slip into 2020 instead of 2019 that was initially thought. The report quoted Shell’s Head of Upstream, Mr. Andy Brown, as saying on the side-lines of the International Petroleum Week conference in London that the tax claim lacked merit. “It is something that has gone through the courts in Nigeria, which relates to an original clause within the original PSCs (production sharing contracts),” said Brown said. Brown, who will step down from his role this year, explained: “We will have to take it seriously but we think it has no merits.” According to him, the

outstanding tax issue will delay the FID on developing Shell’s Bonga South West deep-water oil field, one of Nigeria’s largest with production expected to reach over 200,000 barrels per day (bpd). “We’ll need to resolve that before we ever FID the Bonga South West project,” he said in the report. He further indicated that Shell has made progress with the government on some basic terms for operating the field but a decision on its development was now unlikely to be made in 2019. “Bonga South West’s FID may slip into next year,” Brown added. Nigerian National Petroleum Corporation (NNPC) and Shell Nigeria Exploration and Production Company

(SNEPCo) had earlier this month commenced the tendering process for the execution of $10 billion Bonga South West/Aparo (BSWA) deepwater project. Consequently, the company released the Invitation to Tender (ITT) to contractors for the development of the oil field. SNEPCo and the NNPC had reached agreement on the key commercial terms necessary to move the development of the oil field forward. This agreement, it was learnt, covers related production sharing contract (PSC) interpretation disputes. “It also sets an incentivising and fair framework for developing this world class opportunity while opening

further opportunities in the prolific Nigerian deepwater oil and gas industry. We look forward to realizing the significant benefits to the Nigerian state, the Nigerian deepwater oil and gas construction contractors, their workforce and the investing parties as we progress towards investment decision, construction and start-up,” an official of the project partners had explained. The project’s initial phase would include a new Floating, Production, Storage and Offloading (FPSO) vessel, more than 20 deep-water wells and related subsea infrastructure. First oil from the project, which is expected to add 225,000 barrels per day of crude oil to Nigeria’s daily

production, is expected in 2021 or 2022. THISDAY gathered that the BSWA field straddles Oil Mining Leases (OMLs) 118, 132 and 140. However, the bulk of BSWA resources are located in OML 118 but it also extends into OMLs 132 and 140, operated by Chevron, where it is called Aparo. SNEPCo is the operator of the BSWA project in line with the agreement between the NNPC, Esso Exploration & Production Nigeria (Deepwater) Ltd., Total E&P Nigeria Ltd., Nigerian Agip Exploration Ltd., Texaco Nigeria Outer Shelf Ltd., Star Ultra Deep Petroleum Ltd., Sasol Exploration and Production Nigeria Ltd. and Oil and Gas Nigeria Ltd.

that its observers were denied access to 10 Ward Collation Centres in Abia State, 7 in Lagos State and 5 in Akwa Ibom and Ogun States respectively. "Other reports received indicate that there was no collation in some wards; rather, polling unit results were directly collated at Local Government level, raising questions about

violation of the collation process,” it said. While urging Nigerians to be peaceful and law abiding, as the results are being collated, Situation Room also asked political parties and candidates, who are aggrieved with the electoral process, to ensure that they utilise legally recognised channels to seek redress.

PDP PROTESTS SELECTIVE USE OF CARD READERS IN NORTHERN STATES and held her hostage, in a bid to seize the election results. Similarly it drew attention to what happened in Emohua Local Government of Rivers State, where the Electoral Officer, Mr. Kenneth Etah, claimed that military personnel invaded the local INEC office and commenced shooting, thereby creating

an environment too violent for the collation process to be carried out. The group added: "Situation Room notes that INEC has failed to publicly acknowledge the occurrence of these incidents in the past few days and owe it to its staff and Nigerians, to express concern over these threats and acts of violence

and take necessary steps to ensure the security of INEC personnel. "Furthermore the implication of this on the sanctity of the ballot must be transparently dealt with. Situation Room calls on INEC to give immediate attention to the issue of its officials who were forced to announce inaccurate results and also

take steps to ensure their safety.’’ While stating its level of involvement in last Saturday's presidential election, the Situation Room said it deployed observers in all 8,809 electoral wards across the country and received reports of observers being restricted from several ward collation centres. For instance, the group said

WEDNESDAY FEBRUARY 27, 2019 ˾ T H I S D AY

NEWS

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

NBA Accuses INEC Officials of Aiding Election Rigging Electoral body to probe conﬂicting ﬁgures in results CUPP rejects results, accuses Yakubu of complicity Davidson Iriekpen in Lagos, Shola Oyeyipo and Udora Orizu in Abuja The Nigerian Bar Association (NBA) has faulted the preparations of the Independent National Electoral Commission (INEC) in the area of logistics for the February 23, 2019 presidential and National Assembly elections, accusing the commission’s officials of aiding and abetting politicians to rig the elections. This is coming as the Chairman of the electoral body, Prof. Mahmood Yakubu has promised that the electoral umpire will probe some already identified calculation errors in the results of last Saturday’s presidential and National Assembly elections. But despite the assurance by Yakubu, the Coalition of United Political Parties (CUPP) has rejected the results of the elections being collated by the commission, accusing the INEC boss, of complicity in the election malpractices. In the interim report on the elections signed by the Chairman, Elections Working Group (EWG), Afam Osigwe, NBA not only indicted INEC over the challenges faced by the populace, it said many of

its staffs were partisan in the election. Osigwe however, said the NBA–EWG would give its full report after the governorship and House of Assembly elections slated for March 8. The President of NBA, Mr. Paul Usoro (SAN) had inaugurated the 2019 NBA-EWG with the core mandate to, among others, observe the presidential, gubernatorial, national and state Houses of Assembly elections, 2019 and ascertain and be able to comment on the extent of the conformity of the processes and procedures for conduct of the elections with the relevant laws. The report, in parts stated: “The NBA-EWG notes that although the elections were originally scheduled to hold on Saturday, February 16, 2019, INEC caused same to be postponed by a week, citing ‘logistical challenges.’ The NBA-EWG noted with regret, however, that despite the postponement, the elections recorded some noticeable but avoidable lapses associated with the same ‘logistical challenges’. It stated that its members reported that polls did not commence at the scheduled time of 8 a.m. in most polling units nationwide.

This, according to it, was a drawback, which manifested in the states of the South-south, South-east, South-west and North-central regions of the country. The observer body disclosed that in a number of polling units across the country, election materials, especially ballot papers, were either over-supplied or under-supplied. It added that from the reports available to it, the situation was prevalent in the South-south and South-east sub-regions, particularly in Edo, Akwa Ibom, Imo and Enugu States. “The NBA-EWG notes as well that in isolated cases, Owerri in Imo State for example, INEC officials conducted the elections using photocopies of approved ballot papers. In polling units where voters complained about this unwholesome practice, the INEC officials rebuffed them

and proceeded to conduct the elections in that manner, nevertheless. We also observed that many electoral officers could not locate the Polling Units where they were to conduct elections. “In one example at Dutse Alhaji, Abuja FCT, polling officers who could not locate their polling units returned to a wrong polling unit with the electoral materials. In another example in Abuja the polling officers actually commenced the conduct of elections in a different and wrong polling unit. “Many voters also had difficulties locating their polling units as there were insufficient details on the PVCs and at INEC website on how to locate one’s polling unit. “This was very prevalent in Abuja. The splitting of the Polling Units into sub-units based on alphabetical order without informing the voters

or putting in place some order in executing same, initially caused disenchantment as voters had lined up randomly or in a single straight line in accordance with their time of arrival not knowing that such polling units had been subdivided. On the Smart Card Readers, the group said the major complaints of the voters, as aggregated by members, revolve around the card readers. “The 2019 NBA –EWG reports that the performance of the card readers, although not generally unsatisfactory, raised concerns and provided sufficient basis for anxiety among the voting populace. “Some of the acknowledged complaints about or concerning the card reader device include but are not limited to: inability to authenticate fingerprints or biometrics, inaccurate or false outputs for identified card

holders, non-recognition of certain alphabets associated with some surnames or forenames. Illustrative locations where these incidents occurred include some polling units in FCT, Kano and Akwa Ibom States.” On electoral violence, the NBA said there were several reports and live feeds of electoral violence from all over the country where party thugs and hoodlums had a field day invading voting centres to harass, molest and intimidate voters and, in some instances, INEC officials. “Strangely, in places where these despicable acts were recorded or registered, security agents were either complacent or complicit. Rivers, Lagos and Kogi States were notorious in this regard. There were also confirmed reports from different parts of Nigeria where voters

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National Assembly Adjourns to March 12 for Lack of Quorum Shola Oyeyipo in Abuja The two chambers of the National Assembly yesterday adjourned plenary until March 12, for lack of quorum. In the Senate, its President, Dr. Bukola Saraki, presided at the plenary, which was attended by only eight senators. It was the first general sitting of the upper legislative chamber following its resumption from one-month election break. A major item on the Order Paper was the National Minimum Wage Bill, which passed second reading on January 24. The bill is undergoing further legislative work by a sevenmember ad hoc committee, which was given two weeks to conclude its assignment. Before the adjournment, chairman of the committee, Senator Olusola Adeyeye, told his colleagues that work on the bill was hampered by members’ engagement in the just-concluded elections. He explained that the committee could not form quorum, and all efforts to hold their sittings electronically failed. Adeyeye said he would traveling for treatment, but in the event he was not able to return, a member of the committee would take charge. Others in attendance at yesterday’s plenary were Deputy President of the Senate, Ike Ekweremadu; Leader of the Senate, Ahmed Lawan, and the Minority Whip, Philip Aduda. Senators Andrew Uchendu, Abu Ibrahim and Fatimat Rasaki were also present.

In the House of Representatives, Speaker Yakubu Dogara who presided over the brief sitting, said that the House could not form a quorum as only 12 lawmakers were in attendance at the plenary. Dogara who was re-elected to the House for a fourth term represents Bogoro/ Dass/Tarawa Balewa Federal Constituency of Bauchi State, was at the plenary with the Deputy Speaker, Lasun Yussuf and House Leader, Femi Gbajabiamila. Other members present at the plenary were chairman, Rules and Business Committee, Edward Pwajok (PDP-Plateau), Chika Adamu (APC-Niger) and Bashir Adamu (APC-Kano). The House therefore, stood down all the items in the order paper for the day’s proceedings. Bills listed for deliberation include: A Bill for an Act to Amend the Federal Colleges of Education Act F8, Laws of the Federation of Nigeria, 2004; and for Related Matters (HB 1452) Others are A Bill for an Act to Amend the Trafficking in Persons (Prohibition) Enforcement and Administration Act, to Establish Special Trafficking Court, among others. The House had earlier adjourned plenary to February 19, to allow members participate in the presidential and National Assembly elections. The National Assembly however, rescheduled the resumption by one week after the election was postponed by the Independent National Electoral Commission (INEC).

CONGRATULATIONS ...

Member, House of Representatives, Hon. Lawal Abubakar (APC, Adamawa); Speaker, House of Representatives, Hon. Yakubu Dogara; and his Special Adviser on Media and Public Affairs, Mr. Turaki Hassan, arriving at the National Assembly on resumption after presidential and National Assembly elections, in Abuja ...yesterday

US Calls on Nigerian Youths to Study Black History Martins Iﬁjeh The United States Government has called on Nigerian youths to learn about black history, the intellect of Africans as well as the abolishment of slavery. Delivering a key note address at the opening ceremony of 2019 Black History Month held at the University of Lagos yesterday, the US Consulate Public Affairs Officer, Russell Brooks, said when young people read about the intellectual arguments used in justifying slavery and colonialism, it would give them a broader view of whether or not people were by nature mean, cruel, brutal or unjust. According to him, “The first African slaves to arrive in the English colonies of

North America arrived in 1619 to Jamestown, Virginia. Dutch traders who had seized them from a Spanish slave ship brought them there. For that reason, this year is being marked as the 400th anniversary of that momentous event. “It also marked the beginning of the need for events such as this. You see, in the United States, from that point forward, until slavery was abolished, there would be a need to justify that particular aspect of American life to rationalise this specific form of inhumanity and injustice.” He said he did not believe most people were by nature mean, adding that throughout the history of blacks in the new world, whether it be in the United States, Jamaica,

Cuba or Brazil, there has always been a desire, perhaps a need, to justify race-based inhumanity to one’s fellow man. The consulate spokesman said: “A central tenet of white supremacy in America and Europe has always been that blacks had no real history; that they left behind nothing of value in Africa; that they had no real culture; that the black race had contributed nothing of value to the advancement of the world; and that slaves should be thankful for what their slave masters had done for them. “Perhaps needless to say, this made those who benefited from slavery feel much better about that cruel, inhumane system and the same could be said for those who advocated

race-based discrimination, colonialism, and imperialism.” Brooks said he doubted if those who advance such theories of racial superiority were aware of the Kingdom of Mali, the Songhai Empire and the greatness of ancient Timbuktu, Abyssinia, the Kingdom of Benin or the Oyo Empire. “Nevertheless, for many years, not only were white Americans ignorant of the true history of Africans and African-Americans, but many black Americans were just also oblivious of their history,” he added. Brooks said many blacks, through innovations and strength, have championed a number of firsts and have made the world a better place to live in.

WEDNESDAY FEBRUARY 27, 2019 ˾ T H I S D AY

NEWS XTRA

Buratai Denies Asking Army Officers to Work for Buhari Kingsley Nwezeh in Abuja

The Chief of Army Staff, Lt. General Tukur Buratai, yesterday denied allegations that he summoned a meeting of senior officers where he directed them to work for

the victory of President Mohammadu Buhari in last Saturday’s presidential election. The denial followed allegations that senior officers who attended the meeting allegedly refused to carry out the “illegal orders”.

Obi Accuses INEC of Disenfranchising Eight Million South-east Voters The vice-presidential candidate of the Peoples Democratic Party (PDP), Mr. Peter Obi, has accused the Independent National Electoral Commission (INEC) of disenfranchising over eight million eligible voters in the South-east during the February 23 presidential election. He said the election was deliberately programmed to ensure that the zone did not participate fully. Obi made the allegation yesterday at a press conference held in Onitsha, Anambra State. He said that out of the 10 million registered voters in the zone, only about 20 per cent were able to cast their votes. He said, “You will recall that on election day, I said the process was clumsy and we also had a major problem with malfunctioning card readers. Most people couldn’t vote as a result.

“When over 4,000 card readers got burnt, it became clear that something was wrong somewhere and the Independent National Electoral Commission could neither save the situation nor allow people to vote manually. “But in some other parts of the country, people were allowed to vote manually and it was accepted by the electoral body. “How can you tell me that states like Yobe and Borno produced more voters than Anambra and Ebonyi states put together? “The two states have been at war. I wonder how they got card readers that were working so well, despite the war situation in which they found themselves.” Obi noted that Nigeria failed to build on the achievements of the 2015 general election.

The army chief, who spoke in Abuja, said that while he had a meeting with senior officers before the election, it was for the purpose of ensuring the successful conduct of the election. “It is glaring that those who are determined to denigrate the office and person of the Chief of Army Staff (COAS) Nigerian Army (NA) are terribly bent on going to any length to armtwist or trivialise whatever he does or says in the course of official engagements. “The major allegation in the publication is that - ‘there is disquiet within the top echelon of the army following an emergency meeting summoned

by COAS to appeal to senior army officers to work towards the victory of President Muhammadu Buhari for the February 23, 2019 Presidential election”, a statement issued by the army spokesman, Col. Sagir Musa, said. The statement further said: “for the fact that there is possibility of some to believe this baseless allegation, the NA wouldn’t have to join issues with politically interested cyber warfare blackmailers. Therefore, on the basis of this claim, the need to provide an explanation becomes imperative.” “For the record, it was true, as was widely covered and reported by the media, that

the COAS had a meeting with Principal Staff Officers (PSOs), General Officers Commanding (GOCs), directors and selected field commanders on February 20, 2019 where he clearly directed them to adopt a proactive and decisive posture that will ensure creation of a conducive environment for the peaceful conduct of 2019 elections. “He ordered them and indeed all NA personnel to avoid fraternising with politicians and decisively deal with criminal acts such as electoral thuggery, snatching of ballot boxes, illegal possession of elections materials and other crimes that are intended to

mar the election and create an avenue for post-election violence in Nigeria. “All he said was contained in his address to the officers, was equally recorded and broadcasted by the trio of print, broadcast and social media platforms and is therefore laughable and disingenuous for one to twist his directives to - or - for mere political opportunism. ‘This claim is coming at a time when the NA in collaboration with other security agencies are working hard to ensure a secure, transparent and credible 2019 general election in Nigeria is therefore quite worrisome”.

Shippers’ Council Raises the Alarm over Attacks on Nigeria’s Waterways Kasim Sumaina in Abuja The Nigerian Shippers’ Council (NSC), in collaboration with the Nigerian Navy, yesterday in Abuja, disclosed their readiness to tackle the security challenges bedeviling Nigeria’s seaways. This is even, as the NSC’s Executive Secretary, Mr. Hassan Bello has raised the alarm over the spate of attacks on Nigeria’s waterways, disclosing that vessels plying the country’s waters had been targeted 88 times in one year by pirates. Bello, who spoke during a courtesy visit to the Chief of Naval Staff, Rear Admiral, Ibok Ibas, expressed the need for the Navy to provide a “platform to be placed strategically offshore and guards transferred to each vessel in and then dropped off out such that there is always armed naval security presence from about 80 nautical miles off Bonny fairway bouy, up to Onne” in Rivers State. The executive secretary, while lamenting the challenges confronting the maritime sector, revealed that the adaptive nature of the security threats contributes immensely to the poor competitiveness of the nation’s ports, thereby impeding trade and affecting the nation’s gross domestic product. “We have received various complaints from the shipping companies who have been forced to provide their own security to escort their vessels to port (especially at the eastern ports). In spite of their efforts, between 2017 and 2018, there have been

88 attacks in Niger Delta.” “For instance, 2016 to 2018, there were 10,673 vessels’ calls at the ports with gross registered tonnage of over 329 million. However, one of major challenges in the maritime sector is security,” he said. Bello added that, the cost of providing their own security is passed on to the consignee, contributing to the high cost of the product in the market. He stated that due to the high level of maritime security incidents in the Gulf of Guinea, “the War Risk surcharge is imposed on Nigeria, adding that this impacts on freight charged on Nigeria-bound cargo. “In addition to the various measures being put in place by the Navy and other relevant agencies, there is need for Navy to support the passage of Anti-piracy Bill into law. “This will replace the security escort service which SAN members and other shipping companies are currently running. There may be need to authorise the shipping lines that trade in Nigeria’s territorial waters to have armed guards on board their vessels to deter attempts on their vessels as suggested by shipping lines,” he said. Responding, the Chief of Naval Staff, Rear Admiral Ibok Ibas, said: “I am happy the Executive Secretary of Shippers Council has embraced the responsibilities of the Council and also highlighted some of the challenges that Nigeria is having presently and what efforts have been made to mitigate against these challenges.”

STRATEGIC ENGAGEMENT...

L-R: Member of the House of Representatives representing Oshodi-Isolo 1 Federal Constituency, Hon. Mutiu Shadimu; governorship candidate of Peoples Democratic Party (PDP) in Lagos State, Mr. Jimi Agbaje; and deputy governorship candidate, Mrs. Haleemat Oluwayemisi Busari, at a press conference in Agbaje’s campaign office in Lagos...yesterday

Court Sacks Plateau Lawmaker over Certificate Forgery Seriki Adinoyi in Jos A Federal High Court sitting in Jos has sacked a Plateau State lawmaker, Ibrahim Baba Hassan, over the forgery of a certificate he claimed to have obtained from the University of Jos. The Registrar of the university, Monday Danje had disowned the Diploma certificate purportedly issued the lawmaker by the university. The sacked lawmaker who is currently representing Jos North-North constituency in the state House of Assembly had been dragged to court since 2015 by Abdul Nasir Saleh, challenging the authenticity of his certificate in Business Administration, which he claimed to have obtained from the university. Saleh contested party

primaries with the sacked lawmaker on the platform of All Progressives Congress (APC) in 2015 where he came second. The presiding Judge, Justice Musa Kurya in his judgment on the case yesterday said there was no trace of proof that the diploma certificate submitted to INEC byHassan was genuinely obtained from the University Jos. Kurya said based on the direct and oral evidence submitted by the Registrar of Unijos before the court, it was true that the certificate presented by the embattled lawmaker to INEC in 2015 was not obtained from the said institution, adding that the evidence given by the registrar “is true and uncontroversial.” The Judge said “I wonder what kind of law that a person whose diploma certificate is

proved to have been forged will make for the development of his constituency and by extension, the state as a whole”. Kurya therefore granted all the prayers seeking by the plaintiff. He also granted an order disqualifying the 1st defendant as the candidate of the 2nd Defendant, (APC), for election to the Plateau State House of Assembly in respect of Jos North-North Constituency of Plateau State held on April 11, 2015, on the ground of violation of Section 31 (5) of the Electoral Act 2010 (as amended) and nonfulfillment of the constitutional requirement to conduct the said election. The court directed the 3rd Defendant, (INEC), to accept and recognise forthwith the name of the plaintiff as the legitimate candidate of the 2nd defendant for the 2015

elections into the State House of Assembly for Jos North-North Constituency in Plateau State. The court also awarded N5,000,000.00 fine being the total legal fees for prosecuting this matter from inception, and “25,000,000.00 as general damages, and 150,000.00, being the cost of filing his action. Kurya also warned that other additional degree certificates obtained by the accused using the contentious diploma, which has been proven to be forged, can’t stand since something cannot be built on nothing. He therefore directed the Department of State Security Services (DSS), the Economic and Financial Crime Commission (EFCC), Independent National Electoral Commission ( INEC), and State House of Assembly to take note of the judgment.

Olanipekun to Speak on Electoral Law, Democracy at Oxford University A former President of the Nigerian Bar Association (NBA) and Senior Advocate of Nigeria (SAN), Chief Wole Olanipekun will tomorrow, February, 28, 2019 deliver a keynote address on Electoral Law, Election Petitions and

the Future of Democracy in Nigeria at the workshop on “Nigeria in Transition” at St Anthony’s College, Oxford University.The African Studies Centre and the Oxford Martin School, University of Oxford, UK will organise the workshop.

According to the organisers, the workshop will use the by-then-hopefully-concluded Nigerian presidential and national assembly elections to open up questions not just around the elections and related political process, but

more widely on ‘transitions’ in Nigeria, in political, economic, social and cultural senses of the word. Scholars, technocrats and others from Nigeria, the UK and North America are also expected to present papers at the workshop.

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 27, 2019

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COMMENT

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

MAKING OUR DEMOCRACY WORK Sonnie Ekwowusi argues the need to strengthen our values

nyone shocked by the reported killings, ballot box snatchings, threats and intimidation of political opponents, rigging and gerrymandering which characterized last Saturdayâ€™s elections is expecting too much from our young democracy. I am not in the least surprised. Prior to last Saturdayâ€™s Presidential election President Buhari was asked whether he would congratulate his opponent if he lost the Presidential election and he quickly responded with a whiff of a despot: â€œI will congratulate myselfâ€?. My deduction from Mr. Presidentâ€™s response is that Mr. President has no intention of relinquishing power and would do everything possible to continue to cling to power. So you can now appreciate that democracy can be corrupted. And a corrupted democracy, in my view, is as bad as the worst military rule. In any case, Nigeria is listed among the African countries with â€œdefective democracyâ€?. Therefore the script playing out today should not surprise any of us. Come to think of it, democracy does not have an in-built problem solving mechanisms that instantaneously solve a countryâ€™s myriads of problems. No democracy comes with an already-made bounties and dividends. Every country will have to work out its democracy before it starts reaping dividends from it. Not even the best democracies have yielded the expected dividends. Therefore Nigeria must work out its democracy if she wants to reap dividends from it. We must begin to move away from the statist mentality that once we establish political parties and democratic institutions and bureaucracies such as INEC as well as enact good electoral laws then there will be human flourishing in Nigerian society. Agreed, to a certain extent, functional bureaucracies and democratic institutions and laws are crucial for proper ordering of society but not every obligation that augurs well for human flourishing can be democratized, institutionalized, bureaucratized let alone legislated upon or codified in positive law. For sure, no democracy in which wrongs such as snatching of ballot boxes or murdering of political opponents are intentionally committed and perpetuated by people who ought to know better can save a country. True democracy does not operate in vacuum. True democracy thrives on communally-binding ideals. Therefore if we want to strengthen our democracy we must first of all strengthen the communally-binding ideals because the latter are what give rise to the former. Without communally-binding ideals our democracy is bound to fail. Truth be told, democracy has not divested us of our civic, social and family duties and obligations as members of the society. Rather democracy ought to assimilate and reinforce these civic, social and family duties in order to bear fruit or yielded democratic dividend. Where are those communally-binding values that can be assimilated by our democracy in order for it to yield democratic dividend? There are virtually non-existent today. Truth is that we have sunk so deep in Nigeria over the years. In the last 20 years or so Nigerians have been witnessing a steady and progressive deterioration of those cherished values such as public honesty, public civility, self-restraint, patriotism and so forth which form the superstructures for the building of our national ethos. For example, last Saturday one of the political jobbers in one of the states was seen with some street urchins openly committing electoral malpractices. In another state a governor ordered thugs and hoodlums to snatch ballot boxes and result sheets in selected collation centres to prevent the opposition from winning. It is obvious that nothing is loathsome to us

DEMOCRACY IS A LEARNING PROCESS BUT I DOUBT IF OUR LEARNING PROCESS HAS BEGUN. I THINK THE PREREQUISITE FOR LEARNING THE LESSONS OF DEMOCRACY IS TO RESTORE THE POWER OF MORAL INDIGNATION IN NIGERIA

anymore. No public shame. The most tragic is that human life has become so cheap in Nigeria. We have become accustomed to spilling of human blood or killing our fellow human beings. Last Saturday many voters who trooped out to cast their votes did not return home in our piece. Regrettably President Buhari did not see anything wrong with killing suspected election riggers on the spot. Prior to last Saturday our president had directed that suspected election riggers should be instantly shot. Imagine the president approving jungle justice. So, we have a long way to go in this country. Democracy is a learning process but I doubt if our learning process has begun. I think the prerequisite for learning the lessons of democracy is to restore the power of moral indignation in Nigeria. First things first. Politics is not the first thing. Democracy is not the first thing either. The first thing is culture and at the heart of culture are those communally-binding ideals which hold society together. Abstract politics without those communally-binding ideals cannot hold Nigeria together. French political scientist and historian Alexis de Tocqueville (1805-1859) says by stressing that a country cannot escape destruction if the moral tie is not strengthened in proportion as the political tie is relaxed. Simply put, if we want to strengthen our democracy, we must first of all strengthen the moral tie because the latter is what gives rise to the former. In her essay entitled, A Disposition of Delight, Elizabeth Covey, assistant professor of political science in the Honors College at Baylor University, writes that when the religious and social tradition of the society wither, we are left â€œwith nothing but a dry and gritty residue. Thus we have the spectacle of a set of sanctimonious, rationalist politicians, preaching an ideology of unselfishness and social service to a population in which they and their predecessors have done their best to destroy the only living root of moral behaviourâ€?. I dare say that all the living roots of moral behaviour have been destroyed in Nigeria. And it is our task to restore them. To restore them we must first of all jettison all our wrong assumptions about democracy. The first wrong assumption to jettison is that the political office holders have enough wisdom and virtue to pursue the end of democracy-promotion of the welfare of the people. Viewed against the backdrop of history, political leaders do not have enough wisdom and virtue to pursue the end of democracy. Democracy is challenged from within by sheer ignorance and pursuit of personal interests at the expense of the common good and welfare of the people. Certainly, a democracy that creates loopholes for snatching of ballot boxes or the lynching of political opponents cannot lead to human flourishing. The second assumption to jettison is that politics, political parties, elections, political chieftains and political institutions are the unmistakable signs of the existence of democracy. Of course, the aforesaid are not the true signs of the existence of true democracy. Also they are not the reasons why democracy has excited men. Democracy is exciting because of the character of its ideals and the expectations it encourages men to hold, and by the degree to which it fulfils these expectations. Therefore a democracy bereft of ideals and the communally-binding values which I earlier mentioned can kill in the same way a tyrannical military rule kills. According to Peter Kreeft, â€œif we think we are automatically free from the danger of ignorant prejudice and tyranny simply because we are a democracy, we should reflect on the fact that it was a democracy that killed Socrates....â€?

HALTING FURTHER ELECTORAL VIOLENCE There is need to make political offices less attractive, argues Adewale Kupoluyi

n spite of the initial disappointment and anxiety, the presidential and national assembly elections have finally been held across the nation. A major feature of the elections is that cases of violence and electoral malpractices were reported. Past elections across the country had recorded one crisis or another before, during and after the polls leading to colossal loss of lives and property. Preliminary assessment of the just-concluded elections shows that electoral violence was prevalent as was the case with previous editions. \ Electoral violence is ignited when politicians and their supporters foist their inordinate will on others or when there is resistance to such imposition. Such violence is associated with rigging, ballot-snatching/stuffing, disenfranchisement, shooting to scare away voters, rewriting of results, falsification, vote-buying, kidnapping and outright killing. For now, it appears that is almost impossible to completely wipe away electoral violence from our polity. According to Human Rights Watch, the 2011 general elections had no fewer than 800 people that lost their lives, just as the National Human Rights Commission, its pre-election report, stated that 58 people died between December 2014 and January 2015. This yearâ€™s general elections have been keenly-contested between the ruling All Progressives Congress (APC) and the main opposition Peoples Democratic Party (PDP), most especially because the presidential candidates of the dominant parties are from the northern part of the country and are also Muslims. Hence, split votes are expected. It is worthy of mention that APC and PDP consist of recycled members that had once moved from one party to another, suggesting that both parties are two

sides of a coin. Media tracking of the elections so far indicate that supporters of the main parties in some states such as Abia, Bayelsa, Borno, Kogi, Kano, Lagos, Oyo and Rivers perpetrated bloody electoral violence. For instance, in a polling unit in Aguda, Surulere, Lagos State, thugs allegedly pummeled voters out of queues while at the Okota polling unit, miscreants set ablaze already thumb-printed ballot papers and in Mushin, street urchins or â€˜area boysâ€™ stormed a polling booth and carted away ballot boxes. In Lekki, four young men allegedly beat up a younger man that was ferreted out of a polling unit. One Demola, suspected to be local head of the Oodua Peopleâ€™s Congress (OPC), was attacked at Okota and beaten to a pulp before fumes of fire were seen at the spot where he was attacked, as another victim was allegedly shot and stabbed to death. Nine suspected thugs were arrested at Somolu for allegedly molesting voters with charms, just as six suspects were apprehended at Epe and another three at Ajao Estate, respectively. In Anambra State, many ballot boxes and papers were said to be burnt to ashes and in Rivers State, two brothers and a soldier became victims while 15 persons were said to be shot dead during a violence that erupted at the Akuku-Toru council area of the state where soldiers allegedly unleashed violence on party members and killed their agents in the Emohua council area while 10 youths were arrested for allegedly attempting to snatch ballot boxes in Abia State. Two persons were said to have been murdered in Amukpe, near Sapele, Delta State when gunmen stormed the polling unit while voting was ongoing. Similarly, one person was killed by suspected hoodlums in a bid to snatch ballot box in Ibadan, Oyo State, as counting of votes was ongoing.

Similarly, rampaging armed men in military uniform allegedly murdered a photographer and another victim at Oweikorogha in Bayelsa State alongside a ward chairman of a major party in the area while awaiting the counting of votes. In Borno State, terrorists group allegedly claimed responsibility for a rocket attack on Maiduguri, as another explosion occurred at the headquarters of the Nigerian Army 7th Division when troops were preparing for operations in which soldiers were killed and 20 civilians were injured. In Lokoja, Kogi State, a police inspector, Mohammed Hammani and two others lost their lives to electoral violence. In Kano State, the police have â€˜invitedâ€™ a member of the House of Representatives, Abdulmumin Jibrin, over his alleged role in a bloody clash that occurred in the Bebeji council area of the state, among other cases. No doubt, electoral violence promotes jungle justice and discourages eligible voters from voting, making their level of participation to be greatly inhibited. The emergence of candidates becomes questionable when the political turf is left to hooligans and trouble-makers. This invariably affects the quality of leadership that would emerge at the end of the day. Good governance is only possible when truly democratically-elected representatives are given daunting state responsibilities. Bad leadership has been the lot of Nigeria, as many citizens continue to wallow in abject poverty and suffer in the midst of plenty, despite the nationâ€™s rich endowments. National security is seriously being threatened by the prevailing acts of religious extremism, official brigandage and terrorism. The role of local and international election observers are greatly whittled-down whenever violence is unleashed, thus creating credibility and integrity problems for election outcomes. This

should not be. As a way forward, there is need for attitudinal change on why people should play decent politics, if we are ever going to get it right as a nation and get many decent people into politics, as obtainable in saner climes. Political parties and contestants should always realise that the ultimate decision of the people is what matters. Politicians should desist from lording their wills over the electorate. Law enforcement agencies should be more proactive in nipping in the bud, potential crises that may snowball into electoral violence. The practice of signing peace accord by party contestants should not be limited to presidential candidates alone but it should be extended to other contestants, to get their commitments to shun violence. To ensure that justice is done and seen to have been done, the Socio-Economic Rights and Accountability Project (SERAP), has requested the Nigerian government to immediately refer to the International Criminal Court (ICC), pursuant to article 13 of the Rome Statute, to which Nigeria is a state party and that all cases of election-related violence, intimidation and killings between 1999 and 2019, are initiated for proper investigation and prosecution. The Independent National Electoral Commission (INEC) should intensify its awareness, enlightenment and public education programmes on the dangers of electoral violence and sanctions to be meted out to perpetrators. Political parties should allow internal democracy to flourish and caution their members against hate speech. More importantly, there is need to make political offices less attractive, to discourage the current penchant for do-or-die politics, god-fatherism and neopatrimonialism. Kupoluyi wrote from Federal University of Agriculture, Abeokuta

T H I S D AY WEDNESDAY, FEBRUARY 27, 2019

EDITORIAL The FCT Broom And Public Decency The broom at the Abuja city gate is a monument to impunity

f the claim that some supporters of the ruling All Progressives Congress (APC) erected the big broom at the Abuja City Gate is credible, it means that anybody can erect anything within the Federal Capital Territory (FCT) without statutory permit. But we find the statement very hard to believe and consider it the height of irresponsibility that the Abuja authorities would keep silent over what should never have happened in the first place. No democratic government should get so political as to consider setting up a party symbol within the precinct of a national monument. If the FCT Minister does not know his job, we call on President Muhammadu Buhari to demand the pulling down of the statue. Upon entering Abuja from the airport, it is certain that anyone who sees the giant broom would conclude that Nigeria has degenerated into a country with minimal or no THE FCDA MUST REALISE THAT THERE IS sense of decency. A LIMIT TO POLITICKING Meanwhile, history is littered with the AND THAT RESPECT shattered remains FOR PUBLIC DECENCY of toppled statues SHOULD NEVER BE in many countries, including the SACRIFICED ON THE ALTAR OF PARTISANSHIP United States. Symbols such as flags and portraits as well as controversial monuments that are considered divisive are being torn down as a mark of respect for unity in diversity in most societies. That is why we find the erection of the broom statue at the Abuja city gate clearly unacceptable. Nigeria is not a one-party country, and should not be made to look so by those who have no appreciation of what they are in office for. While we struggle to recall any historical moments when a ruling party erected its symbol within the precinct of a national monument

Letters to the Editor

in our country, we fail to understand what informed such abuse of public decency. It is all the more egregious that this is a government that campaigned in 2015 to fix all that had gone wrong with Nigeria, including acts of public shenanigan which the erected broom truly represents. Up till now, no one in the Federal Capital Territory Administration whose job it is to check such public abuses has told Nigerians who erected the broom, and no one has deemed it fit to pull it down despite all the public outcry. The conclusion to draw is that the erection of the broom has official imprimatur.

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

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

t is unfortunate because some experts have lamented what they see as a lack of appreciation of the growing brand potential of the city gate monument by the Federal Capital Territory Development Authority (FCDA). The city gate, according to a brand manager, Mr Cyril Harcourt, is beginning to grow as a tourist destination especially for staff of some foreign embassies in Abuja celebrating their national days. “Ireland and some other countries have lit up the monument at night in their national colours and circulated the pictures. The monument shouldn’t be contaminated with local partisanship by erecting a party symbol near it,” said Harcourt. The opposition Peoples Democratic Party (PDP) and many Nigerians have also condemned the idea. Regardless of the people behind the statue, we urge the Abuja authorities to stop shirking its duties. It is not right to have the symbol of a party at the city gate, or any other place where public monuments are built. The FCDA must realise that there is a limit to politicking and that respect for public decency should never be sacriﬁced on the altar of partisanship. They should never condone what is clear lawlessness. As far as most Nigerians are concerned, the expensive big broom erected at the Abuja city gate is obscene, provocative and a monument to impunity. It should be removed immediately.

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NBC, ICPC AND DIGITAL SWITCH OVER

onsidering the many tales of the unexpected emerging from the ongoing face off between the National Broadcasting Commission (NBC) and the ICPC, it is tempting to believe that there is more to the peculiar situation. It is unusual for the ICPC to be engulfed in a face-off with a government agency it is investigating to the extent that has manifested thus far, especially when it is the ICPC that has been boxed into a corner of silent response to public criticism and ridicule of the purported findings of its supposed investigations into the affairs of NBC concerning the Digital Switch Over (DSO). What really is going on? There is no doubt that ICPC goofed by issuing a press release that was supposed to blow its trumpet on investigations into the payment of N2.5 billion to Pinnacle Communications Limited, the licensed private national signal distributor for the DSO project, which it made the world to believe was fraudulent. Instead, the world was left believing that the ICPC investigation was fraudulent if it did not even know the correct name of the subject of its probe (NBC), if it could come out stating that the DSO was about telephone lines and if it had no idea about the five-year existing status of Pinnacle Communications Limited as licensed signal distributor in the DSO project, for which it provided the platform for the national launch in December 2016 and later broadcast centres in Abuja and Kaduna. Surprisingly however, not withstanding these discrediting blunders, the ICPC which claimed to have obtained statements from executives of NBC and Pinnacle Communications Limited had gone ahead to freeze accounts of Pinnacle Communications Limited. A Federal High

Court in Abuja lifted the freeze order and berated the ICPC for the unjustified action. It has now been confirmed that the ICPC misadventure was based entirely on the prodding of the Whistle Blower Network and its November 2018 petition against Information Minister, Lai Mohammed, Director General of NBC Ishaq Modibbo Kawu and Chairman Pinnacle Communications Limited, Sir Lucky Omoluwa “on the N10 billion FGN released in 2016 for the DSO programme”. Interestingly, the petition had erroneous references similar to those in the ICPC press release such as stating that the DSO was “aimed at migrating Nigeria’s communication from analogue to digital platforms”, that Pinnacle Communications Limited was not qualified for the payment but “approved by Modibbo Kawu” and that “the entire job for the N2.5 billion has not been executed.” For the avoidance of doubt, George Uboh has taken to the social media to commend the ICPC for “initiating prosecution against the Director-General of National Broadcasting Corporation (NBC), Ish’aq Kawu Modibbo and Chairman of Pinnacle Communications, Mr. Lucky Omoluwa” and taking responsibility for the petition which he also sent to the National Assembly. Curiously however, both Uboh and the ICPC dropped reference to Information Minister Lai Mohammed even though he is supervising minister who closely monitored and participated in major events of the DSO project. But the NBC and the DSO had earlier been targeted more directly in the process of which the mask came off and the cause of the enemy action that has trailed the implementation of the project since 2014, leading to two postponements and protracted litigations against subterranean schemes to pirate licenses paid and

issued, was no longer in doubt. What began as a bill to amend the NBC Act “to strengthen the commission and make it more effective to regulate broadcasting in Nigeria, and to ensure that all television and cable services run education programmes in line with school sylabi and curricula” at the National Assembly dramatically took an unpatriotic foreign-powered dimension when it was discovered that two anti-DSO sections were surreptitiously smuggled into the amendment bill. The smuggled sections would have technically dismantled the DSO’s basic components, especially the exclusive role of signal distributors and use of single frequency transmissions for the ulterior objective of permitting a South African cable entertainment television monopoly cartel to continue their own independent transmissions without having to be routed through DSO signal distributors. It should be noted that current licenses of a South African cartel for terrestrial transmissions had already been barred from renewal by the NBC, leaving them with no option than to comply with the DSO programme stipulations or shut down. As a result the South Africans who have also stoutly resisted measures by the Consumer Protection Council to check their profiteering and discriminatory policies protested by Nigerian customers, resorted to “any means necessary” to thwart the NBC’s insistence on strict compliance with DSO regulations. Mercifully, President Buhari firmly and commendably withheld assent and sent the NBC Amendment Bill back to the legislature pointing out that the two offending sections ousted some of the NBC’s vital powers. George Dishpat, Jos

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 27, 2019

T H I S D AY ˾ WEDNESDAY FEBRUARY 27, 2019

MIDWEEKPOLITICS

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

A N A LY S I S Bracing Up for Another Snail Speed? As President Muhammadu Buhari looks set to return for another four-year tenure, Vanessa Obioha warns Nigerians to get ready for another season with a president whose remarks often puts him in trouble in the public space

n 2014 when President Muhammadu Buhari declared his intention to contest for the third time, he was going against a promise he made without duress that he will run for the office again, having failed at previous attempts. But this time he was contesting on the platform of a coalition called the All Progressives Congress (APC). Not many believed that him or his party could overthrow the almighty ruling party (at the time) Peoples Democratic Party (PDP). His ambition to become the Number One citizen drew admiration as well as criticism. Buhari who once ruled the country in the 80s as a military ruler never fulfilled his term as he was overthrown by another military leader Ibrahim Babangida. Though his reign then was dotted with austere economic conditions, his foot soldiers lured supporters with his historic fight against corruption and indiscipline in that era. His first attempt as a politician was in 2003 when he ran for the office of president of the country on the platform of the All Nigeria Peoples Party (ANPP). Former President Olusegun Obasanjo who was seeking a re-election won in that race. In 2007, Buhari ran again but failed to clinch the seat as he was beaten by the late Umaru Yar’Adua, his compatriot from Katsina State. 2011 saw the former military dictator running for president again, this time around with the newly formed Congress for Progressive Change (CPC). Buhari faced quite a number of contenders in this particular election including former chairman of the Economic and Financial Crimes Commissioner (EFCC) Nuhu Ribadu who was then running on the Action Congress of Nigeria (ACN) platform, and Ibrahim Shekarau of ANPP. This was the watershed election for Buhari. It was the election that brought him to the attention of political pundits, who noticed that on his own steam, he was able to garner over 12 million votes. This was a strong factor for the choice of Buhari when the merger of different political parties including his CPC metamorphosed into the APC. The reasoning was that if he could, on his own, get that number of votes, then with support from others in the merger, he could be lifted to victory. However, the incumbent president Goodluck Jonathan of the PDP won that election. In the run up to the 2015 elections, Buhari emerged the presidential candidate of the APC which was formed from the alliance of CPC, ACN, factions of APGA and the PDP. For the mantra of change publicised by his party and the strong belief in his incorruptible character, majority of Nigerians voted for the man from Daura in Katsina state in the 2015 elections. It was a great taste of victory for Buhari who was almost denied the opportunity when the ruling President Goodluck asked for his disqualification. According to the former president, Buhari did not meet up with the secondary school level requirement to run for the office of president. In his defence, Buhari said he lost the original copies of his diplomas when his house was raided following his overthrow from power in 1985. His known sentiment for Sharia law in Nigeria and his perceived favour for his ethnic and religious groups prevented some states from voting for him. In that 2015 election, his 15, 424, 921 votes was mostly from North-west, North-east, South-west and few states from the North-central. Known for his strong sentiments against

Buhari

corruption, during his inaugural speech, Buhari declared to Nigerians that “I belong to everybody and I belong to nobody”. The quote was analysed by many pundits and the masses as well who tried to decipher the meaning. Apart from his remarks, the president also pledged to fight corruption, insurgency and revive the economy. His paramount goal was to ensure that the country was free from corrupt politicians so it was no surprise that in 2016, Buhari’s administration introduced the whistle blowing policy with a 2.5-5% reward for anyone with information on theft, fraudulent acts and mismanagement of public funds and assets. However, his fight against corruption was not void of diatribes. To the masses and the opposition party, the anti-corruption fight was one-sided. In fact, critics say that it was a vengeful ploy by the president to punish those who opposed him or took part in the 1985 coup that ousted him from office. A notable example is the detention of the former National Security Adviser to Jonathan, Sambo Dasuki. Also the imprisonment of the leader of tge Shiites El Zakzaky and his wife has also drawn wide criticism. Critics called for the president to also prosecute politicians in his party who are also not innocent. During his campaign, Buhari also expressed his disgust over the insurgent group Boko Haram that terrorised the country during his predecessor ’s reign. He pledged to put an end to their reign. The first step in achieving his objective was seen in 2016 when he negotiated with group to release 21 girls out of the 276 girls who were abducted in Chibok in 2014. The following year saw the release of another

82 girls. That victory was short-lived as the following year, Boko Haram kidnapped 110 school girls in Dapchi, Yobe state. The girls were later released except for Leah Sharibu whose whereabouts is still uncertain. On many occasions, the Buhari administration celebrated feats of reclaiming regions formerly seized by Boko Haram but these also have been short-lived as the terrorist group still rain down mayhem and in some cases defeated the Nigerian army in many bloody skirmishes. Protests against the poor mobilization of the army had also been voiced by Nigerians. In his four-year tenure, the Nigerian economy went through a nail-biting recession. The Naira depreciated in the black market leading to a gulf between the official exchange rate and the blackmarket rate. A resulting shortage in foreign exchange hit various businesses including petroleum marketers. However, the gulf between the official rates and the black market rates opened up the opportunity for well connected individuals to engage in arbitrage, making a mockery of the president’s anti-corruption image. Another criticism of Buhari’s administration was his campaign promise to remove the fuel subsidy. But instead of a reduction in pump price, there was an increment which once again drew the ire of the masses. On more than one occasion, the president’s remarks often land him in trouble. After his wife questioned his style of leadership in an interview with BBC, Buhari on a visit to Germany when asked about his wife’s party said “I don’t know which party my wife belongs to but she belongs to my kitchen, my living room and the other room.” The other room soon

became a mockery for women and, of course, sparked public discourse on the president’s relegation of his wife. Again, he was criticised for saying in an interview that Nigerian youths are lazy. Nonetheless, the Buhari’s administration which has come under great criticism for the slow and hard economy often point to their detractors the infrastructure development and other projects they have achieved such as the railway project which the Minister of Transportation, Chibuike Amaechi said will open the Western corridors. But the rail lines used are of poor quality and does not meet up with the standard enjoyed by other African countries. Also, the N-Power project which the Federal Government introduced for job creation and empowerment initiatives has not been free from vitriols. Despite the growing criticism against his government, Buhari recorded some victory in his re-election bid. For instance, states in the North-central that didn’t vote for him in the last election threw their weight behind him in the 2019 elections. Such states include Nasarawa where he won 289,903 votes. While he lost Ekiti state in the 2015 elections, 2019 saw the state giving him 219,231 votes. However, he lost Ondo and Oyo to his opponebt Atiku Abubakar. In the North-east, he lost Adamawa to Atiku as well. As he prepares for another four years, Nigerians are bracing up for another snail pace of his administration. However, some believe that he may make improvement and become a better politician this time around. Again, he is expected to work with a crop of more cooperating members of the National Assembly.

T H I S D AY ˾WEDNESDAY FEBRUARY 27, 2019

STATE OF THE POLITY

Salute to His Fighting Spirit Nseobong Okon-Ekong writes that the campaign of former Vice President Atiku Abubakar to become President of Nigeria has salutary eﬀects on Nigeria’s evolving democratic culture

igeria’s former Vice President and presidential candidate of the main opposition political party, Peoples Democratic Party (PDP) in the 2019 national elections, Alhaji Atiku Abubakar is a survivor of many political battles. If he was in the armed forces, he will be a general with many stars to show for attaining commanding heights. For about 27 years, Abubakar has made an unyielding quest to rule Nigeria, saying to his compatriots, again and again that he has the magic wand to turn around Nigeria’s economy and usher in an era of prosperity that will take the country out of the doldrums. He readily points to his illustrious businesses as evidence that he has the capacity to lead Nigeria successfully. Though Abubakar had carried the presidential banner of different political parties in the past, the 2019 challenge has been his most vigorous effort. In preparation to run the race, he made a clean break from the All Progressives Congress (APC), returned to the PDP (for the umpteenth time), and started pelting the ruling party with virulent criticisms. He soon became the most credible rallying point for the opposition. At the same, he went round the country in one of the most extensive consultation to different interest groups to win support for his ambition. Therefore, it was expected that when it was time for him to line up among other contestants to be chosen to lift the PDP’s presidential banner, he more than tripled the votes of his strongest challenger. But the Abubakar victory was not achieved overnight. It was the product of years of bridge building and the oiling of a political machinery that ran like clock work, whether Abubakar was in or out of power. Critics may argue that he inherited the coherent political structure of the late Shehu Musa Yar ’Adua, but it will be uncharitable to deny that Abubakar has not only kept it intact, he should be credited with deploying his own intelligence and character to ensure consistency. In a game that favours the one with the greatest number, Abubakar possesses the honey pot that draws a swam of teeming admirers. Arguably, one of the few Nigerians famed to have the war-chest to stand up against the government of the day, Abubakar is not one to wring his hands in frustration over lack of capital to pursue his dream of becoming Nigeria’s president. For the 2019 presidential which he jointly ran with former Governor of Anambra State, Mr. Peter Obi, under the broad theme, ‘Let’s Get Nigeria Working Again’, Abubakar hired some of the best hands and paid them handsomely to secure whatever ideas or services they could render. So strong was the Abubakar wave that many strong opponents were either swept off or enveloped, in the existing parlance of his presidential campaign, to become ‘Artikulated’. His name was on every lip in Nigeria. A few years ago, Abubakar was not so much loved. Odium surrounding his name had become magnified by the sustained slander from his ex principal, former President Olusegun Obasanjo. The Atiku image has gone full-circle, transforming from the good, to the not-so-good, to the bad and back to the good; even (and surprisingly) in the estimation of Obasanjo. Perhaps, for Abubakar, one

Abubakar

of the gains of his 2019 presidential campaign may be returning to the good books of Obasanjo. Those who showed open animosity against Atiku, took this position largely on account of an unproven allegation that he was the mastermind behind many corrupt schemes. In the unofficial fraudulent, but thriving enterprises that drives the Nigerian underground economy, Atiku was perceived to possess extraordinary intellect or skill that is markedly superior to his or her peers. This supposition has strikingly signposted his public services, whether in the Nigerian Custom Service, as a politician and later in The Presidency. He was thought to be responsible for the highest level of planning and execution of major corrupt operations. The most recent infraction leveled against him was the alleged involvement of his business partner, Mr.Gabriele Volpi and his company, Intels Nigeria Limited in some shady deals, including manipulation of its expatriate quota. Before that, Atiku’s name was linked to the controversial importation of 53 suitcases in 1984 by a first-class traditional ruler from the North. He was fingered again in the Halliburton scandal which resulted in the conviction of a US lawmaker, William Jefferson, leading to Atiku’s ban from entering the US. But the former Vice President has repeatedly challenged anyone with evidence of corruption against him to come forward. So far, no court of law has tried or found him guilty of corruption. Though the issues surrounding

Abubakar ’s purported ban from the US remain hazy, he was able to make a ‘triumphant’ visit to America to end the controversy over his status in that country. This point of view which was mostly orchestrated by agents of the Nigerian government was finally put to rest. That would not be the only time the government openly derided or showed hostility to Abubakar. A widely publicised example was when his aircraft was subjected to embarrassing search. This won a lot of public sympathy for the PDP Presidential candidate. Abubakar, better known by his ethnic title as the Turaki of Adamawa (he has since been elevated to Wazirin of Adamawa) is derided by many for habouring an inordinate ambition to rule the country. Many Followers of Atiku think his best chance to become President of Nigeria was in 2003 when majority of the governors were urging him on and he had Obasanjo by the balls. Then, he could have easily moved from Vice President to President, after all, there was said to be an understanding that Obasanjo would serve only one term, since his emergence was initially informed by a compelling need to placate the Yorubas over the perceived injustice done to Abiola. But having tasted power, Obasanjo did not only renege on his promise, he even sought clandestine ways of remaining in power for a third term. In 2007, Atiku took a shot at becoming president. However, the political dynamics had changed. Many of the governors who could swing victory in his favour had lost

power. Obasanjo ensured that he was muscled out. He promised the governors that one of them would succeed him, thereby weakening the influence base of Atiku, who was also forced out of the PDP. He went ahead to contest the election on the platform of the Action Congress (AC). He lost the presidential election to PDP’s Umaru YarÁdua who became President of Nigeria. However, one of the good things that came out of that political maneuver was the public presentation of Abubakar as a leader of thought, capable of proffering ingenious solutions to the different challenges confronting the Nigerian society. He began with a speech at Chattam House in London. Following the defeat, Abubakar became a wanderer on the political landscape, searching for the best place to actualise his ambition of leading Nigeria. He made another failed bid in 2015 through the All Progressives Congress (APC). This time, Abubakar has advisedly added a deliberate engagement with Nigerian youths, while embarking on nationwide consultations to seek support from d i ff e re n t i n t e re s t g ro u p s o v e r h i s ambition of become Nigeria’s next president in 2019. If there will be another day for Abubakar to make a bid for Nigeria’s highest public office, only time will tell. One thing is sure, the former Vice President will be remembered for helping to strengthen democratic institutions in the country through his dogged determination and impressive contribution to Nigeria’s evolving political culture.

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FEATURES

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

Beaming Searchlight on Nigeria's Forgotten Hero Emmanuel Chukwu, one time Liberiaâ€™s richest foreign businessman worth $89.405 million at the time, single-handedly saved over 1,000 Nigerians during the 1989 war in Liberia by sacrificing his two ships for their evacuation into Nigeria at the expense of his investments. That humane decision cost him his wealth, businesses, health of his wife, and three decades later, he is currently at the verge of becoming homeless in Lagos. No thanks to Nigerian government who promised to repay his gesture but defaulted. Martins IďŹ jeh chronicles his journey

Chukwu and his blind wife, Tobi

f there is one man that has sacrificed everything he has to protect the lives and properties of fellow Nigerians in a far away country, it is the unsung hero; 75 years old Emmanuel Chukwu Collins, who against all odds, gave up all the things that mattered most to him so his countrymen do not get beheaded or burnt alive during the 1989 civil war in Liberia, as Nigerians were major targets. Chukwu was a middle aged man when he left Nigeria for Liberia at the instance of the then President of Liberia, William Tolbert, who saw him as vast and knowledgeable in business. He soon became a dependable ally of the government and doors of opportunities were thrown open to him. Within a few years, he had become a big importer of rice and other commodities to Liberia. And with each move, his reach, network, bank accounts and investments began to swell. Soon, Chukwu became a household name in Monrovia and other cities in Liberia. It was in the heat of this that late President Tolbert was overthrown and subsequently killed in a coup dâ€™etat by the then new President, Samuel Doe. But because Chukwu had become a huge asset to the country, Doe drew him even closer. Every government cherished having him around because the business world in the country revolved around him. In no time, he was appointed by

Doe as the Top Priority Agent to the only cement company in Liberia. By 1989, his investments in Liberia were already worth $89.405 million; that is N2.8 trillion in todayâ€™s money.

Chukwu was then torn between evacuating his multi-million dollar investments or evacuating over 1000 stranded Nigerians out of the country. I had no choice other than to agree because these are my country men and women. Over 1000 went along with their belongings to the ships, many ran to the UN building and the other two places. Unfortunately, all those who ran to the other places were killed. The rebel group struck these three places and beheaded many of those captured

Things Fall Apart But that was the best of the dreams he lived in Liberia. War soon broke out and Samuel Doeâ€™s presidency was under threat by a rebel group led by Charles Taylor. Unfortunately for Nigerians in the country, Taylor â€™s men intercepted a truck load of ammunitions which the Nigerian government had secretly sent to the president to defend his government. Angered by this, Taylor then declared the Nigerian government and President Doeâ€™s government as his enemies. A move that made him hunt for Nigerians for execution. To him, for every Liberia killed by Doeâ€™s government, five Nigerians will be beheaded or burnt alive. Things soon began to fall apart for the Nigerian community in the country. Every one that crossed the part of the rebels was killed, including two Nigerian journalists who were covering the war. â€œAt this point, the Nigerian Ambassador to Nigeria ran to me, and we put our heads together and then decided that we should involve our government so they can evacuate our people out of the country,â€? said Chukwu who was a rallying point for the Nigerian community in Liberia. But surprisingly, the Nigerian government did not act on the demand; leading daily to the killing of Nigerians by Taylor and his men. As the fight became intense,

Taylorâ€™s men were increasingly becoming more powerful, while Nigerians were suffering the most attacks, and Doeâ€™s government was gradually falling apart. Evacuation This was the point Chukwu ordered for two ships so he could take most of his assets out of the country, including the remaining cements and other commodities. Even though each ship was a giant one, what he had in the country would require a minimum of two giant ships to evacuate back to Nigeria, except for the factories and buildings which were not transportable. In no time, his vessels arrived and were ready to take all he had, including his family to Nigeria, but there was a problem. The ambassador begged him not to abandon the Nigerians there. Chukwu was then torn between evacuating his multi-million dollar investments or evacuating over 1000 stranded Nigerians out of the country. â€œI had no choice other than to agree because these are my country men and women. So the ambassador gave all Nigerians in Liberia four options; run to the United Nations building, run to churches, run to Nigeria Embassy or move straight to my two vessels already at the port of the country. â€œOver 1000 went along with their belongings to the ships, many ran to the UN building and the other two

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FEATURES places. Unfortunately, all those who ran to the other places were killed. The rebel group struck these three places and beheaded many of those captured,â€? explained Chukwu. Left Behind But as a kind hearted man that he is, he first allowed everyone to find their way to the vessels. By the time he was ready to access the vessels as well, it was already late. The rebels had taken over streets and strategic locations in the city. The man who brought in the ships could not even access his own ships. At this point, the ambassador and other Nigerians were already at the ship, and he was told to find a way to get to Nigeria since if he attempts to move towards the ships the rebels might take him and his family out. â€œThat was how the ships left without me, because the ambassador had given me his word that the Nigerian government will not take my sacrifice for granted,â€? the one time business mogul explained. Stroke of Luck At this point, Chukwu and his family were living at the mercy of soldiers. They were only wishing that their worst fear do not come to reality. The only option they had was to risk their lives and move to the airport, but flights had been banned from either coming into the country or leaving. Besides, the roads leading to the airport were manned by the rebels, who, at this point, were going to oust Doe any moment obviously. â€œI didnâ€™t have a choice than to tell my wife and four children to brace up for the unknown. We packed our bags, and headed for the airport. I had with me sums of money with which I bribed my way through the road blocks until I got to the airport,â€? Chukwu said. While he wasnâ€™t sure if they will ever get a flight to Nigeria since flights had been banned and insurance firms had placed a 300 per cent risk on any ship or flight to Liberia, he believed pushing his luck was the only option. They got to the airport and realised soldiers were placed in strategic positions, just waiting for orders until they level the public institution. â€œI was scared for my family. So I kept on praying for a miracle. Within two hours of helplessness, we saw a flight from Coteâ€™ D Voire, landing at the airport. It was a test run flight which was just repaired. The owners only tested it to that airport with no knowledge of the situation of things in the country. I earnestly yearned that that same flight would take us out of Liberia. Considering that all workers at the airport including their managers knew me, they gave my family priority and we entered the plane so it could bring us to Lagos.â€? While these negotiations were going on, the soldiers were looking at them. They had no order yet to stop anyone. But 10 minutes after the plane had taken off, the order came and the airport was leveled down. By the time they reached Muritala Mohammed Airport in Ikeja, the city had fallen to the hands of Charles Taylor, and Samuel Doe was subsequently killed. A Futile Attempt to Recoup Loss When we got to Lagos, it dawned on me I didnâ€™t enter the country with a dime. Then the journey to recover my investments through the federal government started. â€œI located the ambassador at the foreign affairs office here in Lagos, and he took me to see General Ibrahim Babangida, who thanked me for saving the lives of Nigerians. He immediately referred me to the Secretary to the Federal Government who then asked me to write down all I needed to settle down in Nigeria. â€œI told them I would need a house, a school for my children, some money, and then my goods in Liberia should be allowed free duty. I presented these because they told me they wonâ€™t be able to pay in cash what I had lost.â€? These were the beginning of another journey for Chukwu. He started chasing

Chukwu standing with the wife all the things the Nigerian government had approved for him, all without success. He was broke, without a car, his children dropped out of school, and he started to live the kind of life even his former cooks would not live. He pursued all these from Babangidaâ€™s time all through to Obasanjoâ€™s and now President Muhammadu Buhari. The more he tries, the more things remained the same. The one time business mogul said: â€œI approached Okonji Iweala, the then minister of finance who told me the government will not give me duty waiver for the importation of rice, which was one of the things government approved for me. She advised me to take oil, as that was what they had in record for settling debts like mine. I didnâ€™t have a choice, I accepted even if I didnâ€™t have market for crude oil.â€? Since then, nothing concrete has happened. He approached Senator Ike Ekweremadu who is the lawmaker representing his constituency. He then

The loss of his wifeâ€™s eyesights isnâ€™t the only thing he lost. The cerebral business man lost his younger brother who was killed while rebels were looking for him. He lost $89, 405 million, which in todayâ€™s money is about N2.8 trillion, an amount that easily could place him as Nigeriaâ€™s richest man. He lost 30 years of not doing business. He lost a good life and today, he is a shadow of his former self

approached Hon. KGB Ogakwa of the House of Representatives, who took it up in the House. The House deliberated on it and requested he go renew the paper with the president of the day. But as typical with the Nigerian system, the people around the president made it absolutely impossible for Chukwu to see him. â€œAfter all the frustrations, I went back to the House and they wrote the then Information Minister, Dora Akunyili to take me to the president so that he can hear me out and renew it. But as we speak now, nothing has been done. This is three decades since then and I am still pursing this.â€? Loss of Sight While he was pursing all these in penury, his wife who had diabetes began to fail in health. She managed her diabetic condition well in Liberia but began to lose her sight as she was no longer able to afford treatment and the food regimen needed to put her sugar level in check. As at today, Mrs. Tobi Chukwu is a blind woman. â€œWe noticed she was gradually going blind. At some point her left eye could only see shadows. So I managed to raise money through my children and few friends and we took her to Dubai for surgery. After which we went to India for another one, from where they told us to come back in four months time so they could perfect everything. But we didnâ€™t have money to go back. At this point she had lost the left eye completely and the right one was just starting to deteriorate. â€œThrough divine providence, Senator Hope Uzodinma heard about our plight and sponsored her treatment in Mayo Clinic in Minessota in the United States. It cost $35, 000. Prior to then, we never met Uzodinma. He is not even the law maker from my constituency, but he helped. Unfortunately, the surgery was unsuccessful and my wife went totally blind. I hear there is retina transplant available, and I am hoping one day I will take her up for treatment so she can regain her sight back,â€? he said. Tobi, who interjected her husbandâ€™s conversation with THISDAY, said the lack of money was what took her eyesight as she would have been able to prevent it if there was money. â€œI canâ€™t wait to regain my sight back. Every day I keep

asking people if research has shown a damaged retina can be replaced. Some people say outright eye transplant can give me my sight back. I am looking forward to this,â€? she said. The loss of his wifeâ€™s eyesights isnâ€™t the only thing he lost. The cerebral business man lost his younger brother who was killed while rebels were looking for him. He lost $89, 405 million, which in todayâ€™s money is about N2.8 trillion, an amount that easily could place him as Nigeriaâ€™s richest man. He lost 30 years of not doing business. He lost a good life and today, he is a shadow of his former self. Chukwu believes now that he is still alive, government should do the needful and give him all that he is entitled to. He is of the view that when the presidency, politicians, the business community, and kind hearted Nigerians read about his journey, they may be touched to either prevail on the government to settle him what he is entitled to, or be given a philanthropic gesture to be back on his feet. In saner climes, Chukwu would not have only been given all that has been approved for him by the federal government; he would have been given a national honor for saving the lives of over 1000 Nigerians at the expense of all that mattered most to him. He should have been regarded as a special citizen, especially now that he is in his old age, where he can no longer work as usual, as was the case when all Liberian presidents were all over him. Homelessness Looms When THISDAY visited him in his three bedroom apartment at Jakande Estate, Oke Afa, Isolo, he presented a quit notice he has been given by his landlord for failing to pay his house rent over the years. He is currently living from hand to mouth and by next month may become homeless, along with his blind wife. If such an act of sacrifice for ones country cannot be rewarded in Nigeria, how then can other Nigerians show patriotism to this country? Chukwu, one of the greatest business moguls Nigeria never had, can be reached on 2348083840570 and +234805549455. His account details are: Account number â€“ 2009273674; Account name â€“ Emmanuel Chukwu, Bank name â€“ Zenith.

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—

R-L: Lagos State Governor, Mr. Akinwunmi Ambode; Commissioner for Transportation, Mr. Ladi Lawanson and General Manager, Lagos State Metropolitan Area Transport Authority (LAMATA), Engr. Abiodun Dabiri during the Governorâ€™s inspection of the Oyingbo Bus Terminal,Lagos...recently

L-R: Oyo State Governor, Senator Abiola Ajimobi; his wife, Florence and a Senior Reporter with the Broadcasting Corporation of Oyo State and one of the recipients of â€˜Most eďŹƒcient civil servantsâ€™ award, Miss Dupe Fehintola during the interfaith service organised by the state government to usher in the New Year, at the Governorâ€™s OďŹƒce, Ibadan...recently

R-L: Winner, Nigeria Media Merit Award (NMMA), Reporter of the Year Award, Television Category, and staďŹ€ of Lagos Television, Seyifunmi Olaide; presenting his award to Lagos State Commissioner for Information and strategy, Mr. Kehinde Bamigbetan and the General Manager, Lagos Television, Mrs. Siju Alabi in Lagosâ€Śrecently

Lâ€“R: Acting Head, Listing Business Division, The Nigerian Stock Exchange (NSE), Tony Ibeziako; Chief Executive OďŹƒcer, NSE, Oscar N. Onyema, OON, and Executive Director, Regulation, NSE, Tinuade Awe, during the NSE 2018 Market Recap and Outlook for 2019 in Lagos..recently

L-R: Chairman, Board of Trustees, South-East South-South Professionals, Mr Emeka Ugwu-Oju; HRH Igwe Kris Onyekwuluje of Umunya and Miss Obianuju Ugwu-Oju, during 21st Ofala Festival held in Umunya, Anambra State ...recently

L-R;Chairman APC Lagos State ,Hon Tunde Balogun, ;Representing Lagos Central Senatorial District, Senator Oluremi Tinubu,Lagos State Governor,Mr Akinwunmi Ambode,APC Lagos State Governorship Candidate,Mr Babajide Sanwo-olu and his Deputy Governor,Dr Obafemi Hamzat,during OďŹƒcal Flag oďŹ€ of the APC Lagos State Gubernatorial Election Campaign,at Sky Power Grounds Ikeja...recently

Buses kept in Awoyaya, Lekki for the Lagos Bus Reform Project, by Governor Akinwunmi Ambode being inspected in Lagos...recently

Former Governor of Ondo State and Zenith Labour Party candidate for Ondo Central Senatorial district, Dr Olusegun Mimiko (right),addressing supporters during a meeting, in Idanre, Ondo State...recently

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BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 4.75 % 4.00 %

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5.00% 8.03 % 9.66%

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

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

344.096% 0.04% -0.26%

2 1 , 2 0 1 8

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EXCHANGE RATE ÍąÍŽÍ´ËšÍŻ ĚŠ ĚŠ

Quick Takes Sahara Group Partners Dorcas Foundation

The Sahara Group and The Dorcas Cancer Foundation have joined forces to increase awareness of the cancer scourge in a bid to reinforce the role early detection plays in preventing avoidable morbidity and mortality from the disease which claimed the lives of 9.6 million people in 2018. Statistics sourced from the World Cancer Day website indicates that at least a third of common cancers are preventable and up to 3.7 million lives could be saved each year through implementing appropriatestrategiesforprevention,earlydetectionandtreatment. Tagged â€˜How Pink Is Your Loveâ€™, the project will take advantage of the euphoria surrounding the 2019 Valentineâ€™s Day celebration to shore up awareness and early detection campaigns through youth engagement talks in schools, health walks, media interactions and donations to select cancer based non-governmental organisations. The campaign would be implemented across the energy conglomerateâ€™slocationsacrossAfrica,Europe,MiddleEastandAsia. Dr. Adedayo Joseph, Clinical Radiation Oncologist and Executive Director of Dorcas Cancer Foundation would provide lead technical support for the campaign through her organisation which is widely regarded for its leading role in stamping out cancer. â€œLast year, Sahara Group added more ďŹ llip to the issue of climate change on Valentineâ€™s Day. Our â€˜Greenest Love of Allâ€™ campaign was well-receivedandgeneratedremarkableawarenessandcommitment to galvanising action towards protecting our environment.

FUND LISTING

L-R:ChiefExecutiveOfficer,NigerianStockExchange(NSE),Mr.OscarOnyema;Chairman,AssociationofStockbrokingHousesofNigeria,Mr.Onyenwechukwu Ezeagu; Group Managing Director, Cordros Capital Limited, Mr.Wale Agbeyangi; Chief Executive Officer, First City Asset Management (FCAM), Mr. James Ilori and President, Fund Managers Association of Nigeria, Mr. Dayo Obisan, at the closing gong ceremony and listing of two Mutual Funds (Legacy Money Market FundandLegacyDebtFund)byFCAM,onthenewlylaunchedNSEMutualFundTradingPlatforminLagosâ€Śrecently

More Firms Issue CPs to Tap Short-term Funding Stories by Goddy Egene More corporates have continued to fund their operations through issuance of commercial papers (CPs) to cover their shortterm financing needs. According to experts, the trend would continue until after the general elections and the political uncertainties are over. CPs are unsecured promissory notes with a fixed maturity are issued by companies to raise money to meet short term finance obligations. The notes are backed by the promise of the issuers to repay based on certain agreed terms. They present a cost-effective and stable means of sourcing

INVESTMENT scarce capital as against to bank loans and provide investors avenue to diversify their portfolios and given their short-term nature, they permitting high relative return on investment and allow investors to remain relatively liquid. Companies usually finance operations through equities and debt capital. But the equities market has offered limited opportunities for firms to raise funds due to low demand by investors. Also, the federal governmentâ€™s dominance in the fixed income securities market have led to the crowding out

of corporates, who have now resorted to alternative funding window such as CPs. For instance, Flour Mills of Nigeria Plc last week raised N6 billion in the sixth series of its N100 billion CP Programme to support its short-term funding requirements. Union Bank of Nigeria Plc also raised N20 billion last month from the market, in 90- Day and 181-Day tenors under its N100 billion CP Programme to finance its working capital. Many companies exploited the CP market last year to fund their operations. For instance, the FMDQ OTC Securities Exchange registered CPs worth N505 billion last year.

Companies such as Dangote Cement Plc, Flour Mills of Nigeria Plc, Access Bank Plc, Union Bank of Nigeria Plc, Sterling Bank Plc, among others benefitted from the market. Market experts said more corporate companies would focus on CPs this year given the lower interest rates and the shorter duration, which is attractive to investors and enable companies make better forecasts and projections. Commenting on the rising appetite for CPs, the Group Chief Executive Officer of Emerging Africa Capital Group, Mrs. Oluwatoyin Sanni said when Continued on page 24

Analysts Predict Positive Returns from Cement Sector Analysts at Afrinvest (West Africa) have said the cement sector will deliver superior returns given the wide infrastructure gap in the country. In a report on the sector, Afrinvest highlighted factors that had posed the most challenges to the cement sector. It also identified recent strategies being implemented to tackle some of these challenges. According to the analysts, in the aftermath of the 2016 economic recession, growth in the Nigerian economy was still stuck below pre-recession and pre-oil price shock levels. They explained that while there have been signs of a recovery, many sectors are yet to fully recover from what is clearly a

INVESTMENT broad-based downturn in the economy. â€œThe cement sector has not been spared from this carnage, with the sector recording a precipitous decline in growth given that it tracks the performance of the economy closely. Between 2000 and 2014, the cement sector expanded at a robust compound annual growth rate (CAGR) of 13.7 per cent. â€œHowever, growth has averaged -1.0 per cent in the past three years, with only a marginal recovery in growth to 4.5 per cent in 2018. Similarly, in other sectors of the economy where activities support the cement

sector â€” the real estate and construction sectors â€” growth has been lackluster,â€? they said. Afrinvest, noted that for companies in the cement industry, the pains of a slowing economy have been devastating. â€œThe steep currency devaluation recorded between 2014 and 2017 led to an increase in costs, given the exposure of energy costs and debt to foreign currency risk. Combined with the moderation in the spending power of consumers, high costs led to a steep increase in cement prices, which in turn affected volumes of cement sold. â€œThe implications were a broad-based decline in margins across companies, with overall profitability barely growing over

a five-year period,â€? the firm said. However, the analysts noted that in recent times, the cement sector has started recovering. â€œEnergy costs have been diversified and foreign exchange (FX) risks are now limited. We are optimistic of a recovery in volumes which will boost revenues, and that lower energy costs will support a fast-paced expansion in profitability in 2018. â€œOver the medium-term, we believe the cement sector remains well placed to deliver superior returns given the wide infrastructure gap in Nigeria. However, we expect the sector to grow at a gradual pace, given the lack of reforms to drive growth Continued on page 24

Kachikwu Bags PTI Award

The Minister of State for Petroleum Resources, Dr. lbe Kachikwu, has been conferred with the Petroleum Training lnstituteâ€™s (PTI) Life Recognition Award, in recognition of his exemplary leadership, uncommon feats in nation building and developmental initiatives toward the sustained growth of the nationâ€™s oil and gas sector. The award was also in appreciation of the advancement of high and qualitative training of competent technical manpower and infrastructural revolution at the PTI. Presenting the award during the launch of Project 100 held at the PetroleumTechnology Development Fund ( PTDF) in Abuja recently, the Principal and Chief Executive of PTI, Prof. Sunny Iyuke, said the Minister of state for Petroleum Resources was honoured as a result of his hard work, selďŹ‚ess service to the oil and gas sector and his untiring eďŹ€ort to repositioning PTI to be on the global map of technological institutions. Accepting the award, Kachikwu said: â€œl dedicate this award to President Muhammadu Buhari for the opportunity given to me to serve in this capacityâ€?. Speaking further, Dr.Kachikwu who paid tribute to the council, management and staďŹ€ of the PTI for discharging its mandate of developing competent technical manpower for the oil and gas sector, acknowledged that the appointment of Iyuke was a step in the right direction.

Emirates Woos Nigerian Travellers

Emirates has introduced an innovative new function on its app to allow Nigerian customers create bespoke playlists ahead of their ďŹ‚ight and sync it to their seats once on board. Customers can plan their trip more eďŹ€ectively, and maximise their on-board experience by using the Emirates app to browse the expansive entertainment catalogue at any time. Ice, Emiratesâ€™ award-winning inďŹ‚ight entertainment has reached a new milestone of over 4,000 channels of on-demand entertainment.The catalogue includes over 1,000 movies, more than any other airline, popular television box sets, tens of thousands of music tracks, podcasts and games. With this, NigerianTravellers can get to watch the highly celebrated Nollywood movies. Similarly, they can get entertained with other African movies. Nigerian music playlists available on ice for the month of February includemusicbyFelaKuti,Davidoâ€™sâ€˜SonofMercyEPâ€™,WizKidâ€™sâ€˜Sounds from the Other Sideâ€™, and Burna Boyâ€™s â€˜Outsideâ€™.

â€œThere 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 productionâ€?

Group Chief Executive Officer, Emerging Africa Capital Group,

Mrs. Toyin Sanni

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FMDQ OTC EXCHANGE RECORDS N15TRN TURNOVER IN ONE MONTH risk is high and future hard to predict, investors would move to shorter end of the market. â€œCP gives the shorter end of the market so investors feel that they can take a bet in the near future and it is helpful for the companies to be able to raise capital within the time frame that investors are comfortable. And the FMDQ, being able to provide outlet for CPs issuances has helped to put some degree of confidence in the market,â€? she said. In his explanation, the Group Chief Executive Officer of United Capital Plc, Mr. Peter Ashade said: â€œI think the relatively lower yield environment and lesser participation by the FGN in the domestic debt market (which hitherto, crowded out access to the domestic debt market by corporates) was the primary factor behind the increased corporate participation.â€? The Co-founder of Cardinal Stone Partners Limited, Mr. Mohammed Garuba, had said CP issuance had increased largely because the banks have refused to reduce interest rate. ANALYSTS PREDICT POSITIVE RETURNS FROM CEMENT SECTOR back to long-term trend,â€? they said. According to the analysts, based on their measured positive outlook, they believe there was still value in cement companies. â€œThe overall sector is currently priced at a discount with a P/E ratio and EV/EBITDA ratios of 12.5x and 14.0x per cent, which is below the average of 23.1x and 15.9x respectively for select emerging markets and frontier markets peers. Across companies under our coverage, we have issued â€œBUYâ€? rating to Dangote Cement and â€œSELLâ€? to Lafarge. â€œFor Cement Company of Northern Nigeria Plc (CCNN), we are waiting on the combined books of the newly merged entity before revising our valuation. Lafarge Africa which had high exposure to foreign currency debt has gotten new debt terms that will ensure lower finance costs and a return to profitability,â€? they said.

Report: Nigeria Remains Africaâ€™s Largest Economy Ugo Aliogo Nigeria has been named Africaâ€™s largest economy for the second year in a row by multinational professional services network PricewaterhouseCoopers (PwC). The auditing firm disclosed this in the latest edition of its Nigeriaâ€™s economic outlook titled: â€œTop 10 Themes for 2019,â€? distinguishing the Nigerian economy from other seven. Nigeria led the pack in the western part of the continent with Kenya falling short to Ethiopia in the East African region. The level of competition in East Africa was quite tight with various sectors accounting for the hefty foreign investments. Other than agriculture which is the spine of many African economies, the report noted that the aviation and oil sector are contributing heavily to the economies. Egypt led in North Africa while South Africa led southern African countries as it is recovering from economic recession to be a competitive investment hub. Following the recent 1.93 per cent Gross Domestic Product (GDP) growth recorded by Nigeria in 2018, as against the 0.82 per cent achieved the previous year, the federal government had beat its chest, saying it was evidence that the President Muhammadu Buhari administrationâ€™s economic policy is working. But analysts had said the outcome only signalled the need for increased investments in the country in order to achieve better and sustainable growth. According to Nigeriaâ€™s GDP report for the fourth quarter and full year 2018 released by the National Bureau of Statistics (NBS), Nigeriaâ€™s GDP growth rate increased to 2.38 per cent (year-on- year) in the fourth

quarter of 2018 (Q4, 2018). This indicated a 0.55 percentage rise compared to the 1.81 per cent growth recorded in the preceding quarter. This also represented an increase of 0.27 per cent when compared to the 2.11 per cent growth rate recorded in the fourth quarter of 2017. The federal government had disclosed that it was considering tough measures to achieve higher revenue. Minister of Finance, Mrs. Zainab Shamsuna Ahmed, had disclosed this while speaking on the topic â€˜Revenue growth & Economic development: Expectations for 2019,â€™ at the Deloitte Nigeria 2019 Economic Outlook held in Lagos recently.

The minister reiterated that the government was planning higher Value Added Tax (VAT) and excise duties for carbonated drinks produced in Nigeria, â€œfor which companies do not pay excise.â€? According to her, â€œWe still need to do more to achieve higher revenue outturn. Peer comparison on our ability to convert Gross Domestic Product (GDP) to revenue for capital and social investmentkey drivers of sustainable economic growth -show that we have a lot to do to catch up. Nigeria must mobilise significant resources to invest in human capital development and critical infrastructure. â€œIndeed, some reforms will

be tough, but it must be done if we will look at the facts and be frank to ourselves. Given the low revenue to GDP ratio (currently at about seven per cent), we must pursue optimal revenue generation,â€? she added. Speaking further, Ahmed said the federal governmentâ€™s recently launched Strategic Revenue Growth Initiatives (SRGI) aims to boost revenue generation in order to meet â€œour targeted revenue to GDP ratio of 15 per cent as set out in the Economic Recovery and Growth Plan (ERGP).â€? The minister noted that in 2018, the federal government recorded revenue of N6.9 trillion, which according to her was unsatisfactory.

She listed some of the key achievements of the federal government to include the Treasury Single Account (TSA) implementation, IPPIS implemented across several MDAs to improve public service productivity and increase government revenue and the establishment of Efficiency Unit to cut costs and block leakages. â€œWe will continue to ensure fiscal discipline and optimise some revenue improvement initiatives that have been achieved thus far. By prioritising revenue generation, the federal government intends to continue significant investments in human capital and critical infrastructure to sustain the growth trajectory.

BUSINESS EXPANSION

L-R: Managing Director, VFD Microfinance Bank, Mr. Azubike Emodi; Group Managing Director, VFD Group Plc, Mr. Nonso Okpala and Chief Operating Officer/Executive Director, Gbenga Omolokun, during a media briefing on the conversion of the group from a limited liability company to a public liability company in Lagos...yesterday

Cashew Exporter Calls for Storage Facilities at Seaports Oluchi Chibuzor with agency report A cashew nuts exporter, Mr Mathew Obot, has appealed to the federal government to provide storage facilities at the countryâ€™s seaports to enhance preservation of commodities before export. Obot made the appeal in an interview with the News

Agency of Nigeria (NAN) on in Lagos recently. He said the absence of such facilities at the countryâ€™s ports was having negative bearing on export of produce and was discouraging many people from continuing with produce trade. The exporter, while considering the feasibility of fresh tomatoes export as being championed by the Central

Bank of Nigeria (CBN), said that absence of storage facilities was the bane of the trade. â€œBecause of the paucity of the facilities, I do keep my produce far away from the port for preservation before transporting it to the port when the vessel is ready to sail. â€œThis process is double expenses; instead of taking it direct to the port from the places

I bought it, I have to take it to another location for preservation. â€œMany of my colleagues who cannot bear the cost of logistics involved in the business are no longer trading in it. Even we who are in it are just trying to exist,â€™â€™ he lamented. He said for the country to get it right in the balance of trade in the area of produce export, such facilities needed

to be in place. Obot, added that the sector would create the more needed jobs in the value chain and encourage influx of foreign exchange and less pressure on the dollar as being witnessed currently. According to him, apart from tomatoes, there are many other produce for which Nigeria has comparative advantages in the world market.

IFAD Launches Fund to Create Jobs for RuralYouths Group Business Editor

Obinna Chima

Capital Market Editor

Ă™ĂŽĂŽĂŁ Ă‘Ă?Ă˜Ă? AgriBusiness/Industry Editor

Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ Ă¤Ă? Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Senior Correspondent

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An impact fund with an innovative approach for attracting much needed capital to the rural areas of developing countries has been launched by the International Fund for Agricultural Development (IFAD). IFAD, along with the European Union, the African, Caribbean and Pacific Group of States (ACP), the government of Luxembourg and the Alliance for a Green Revolution in Africa (AGRA), launched the Agri-Business Capital (ABC) Fund to help rural entrepreneurs in the agricultural sector access the finance they need to grow their

businesses and create jobs for poor rural people, in particular young people. The aim of the ABC Fund was to generate private sector investment in rural small and medium-sized enterprises (SMEs), farmersâ€™ organisations and smallholder farmersâ€™ groups which often find it hard to access finance from traditional institutions who view them as too risky. â€œSmall and medium-sized enterprises can be an engine for development and offer rural communities a pathway out of poverty and hunger, but only if they can access the resources they need,â€? said

IFAD President Gilbert F. Houngbo. â€œThe launch of the ABC Fund is an important step to realise the huge potential of small farmers, their organizations, and most importantly young people.â€? It is estimated that more than half of the 1.2 billion young people in the world live in rural areas. Young people are two to three times more likely than adults to be unemployed. In Africa alone, 10 to 12 million young people enter the job market every year. The European Commissioner for International Cooperation and Development, Neven

Mimica, emphasised the potential impact of the ABC Fund investments on smallholder households. â€œSmallholders and rural businesses are not getting the investment they need from the private sector! ABC Fund will help us address this gap, improve their access to capital and consequently the lives of 700.000 rural households,â€? he said. In line with its focus on promoting private-sector development, ACP Secretary General, Patrick I. Gomes, highlighted the transformative effect the ABC fund could have in poor rural communities.

â€œOur African, Caribbean and Pacific members have great expectations of the ABC Fund,â€? he said. â€œWe look forward to having the Fund respond to specific needs in the three regions and supporting the implementation of our new approach to structurally transform the ACP agricultural sector. â€œThis fund, which aims to contribute to wealth and job creation, particularly for our youth, should significantly enable ACP countries to add value, extract higher rents from commodities, diversify and further integrate into global value chains.â€?

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ITFTrains 450,000 on Skills Acquisition Seriki Adinoyi in Jos The Industrial Training Fund (ITF) said it has trained over 450,000 Nigerians on various skills in the past three years. The fund also said it has commenced the implementation of its information technology skills empowerment programme in six states of the federation. The states are Imo, Bauchi, Plateau, Kaduna, Ondo and Cross Rivers. The Director General of ITF, Mr Joseph Ari, disclosed this recently, during an interactive session he had with journalists in Jos, Plateau state. He said: â€œThe management of ITF in 2016 unveiled one of its most ambitious plans since establishment tagged theâ€? ITF reviewed vision: Strategies for mandate actualisation.â€? The six-year plan was divided into quick wins, short, medium and long term. The implementation of the plan commenced in 2016 and would terminate in 2022. â€œThe overriding objectives of the plan was to accelerate he importation of technical vocational skills to Nigerians. â€œMore than two years into its implementation, I am happy

to announce to you that it has exceeded expectations by training over 450,000 Nigerians who are today earning sustainable livelihood as paid employees or as entrepreneurs that are employing others,â€? he said. Ari added that, â€œThe beneficiaries across the country were equipped with skills in trades and vocations such as welding and fabrication, tailoring and fashion designing, event management and poultry farming among others.â€? The Director General explained that it was in other to accommodate more Nigerians that the Fund decided to introduce new programmes in the area of information technology which he said was already being implemented in seven states He added: â€œAs an indication of our tempo this year, we have commenced the implementation of an information and communication programme. â€œThe programme is designed to equip Nigerian youths with the needed technology and information skills for job creation.â€? Ari, also stressed that with the growing number of unemployment in the country, skill acquisition remains the best

option at addressing the problem. He called on the state government and other stakeholders to join hands with the ITF in its efforts at job creation and poverty reduction in the country by sponsoring beneficiaries into its programmes and activities. Established in 1971, the Industrial Training Fund has operated consistently and painstakingly within the context of its enabling laws Decree 47 of 1971 as Amended in the 2011 ITF ACT. The objective for which the Fund was established has been pursued vigorously and efficaciously. In the four decades of its existence, the ITF has not only raised training consciousness in the economy, but has also helped in generating a corps of skilled indigenous manpower which has been manning and managing various sectors of the national economy. Over the years, pursuant to its statutory responsibility, the ITF has expanded its structures, developed training programmes, reviewed its strategies, operations and services in order to meet the expanding, and changing demands for skilled manpower in the economy.

EZ-Farming Wins Start-up Competition Ugo Aliogo One of Nigeriaâ€™s fast rising agriculture technology start-ups, EZ-Farming has emerged as the only Nigeria firm shortlisted in the annual new venture competition which had six finalists. The business pitch competition is hosted by Georgetown Universityâ€™s McDonough School of Business in conjunction with the Walsh School of Foreign Servicesâ€™ African Studies Programme. According to a statement made available to THISDAY, the Young African Professions (YAP), it was noted that the

2019 Georgetown Africa Business Conference which is in its third consecutive year had as it theme: â€˜Transforming Africa: A New Business Revolution.â€™ The Founder, EZ-Farming, Dr. Adewale Oparinde said the development was another validation for the work EZ-Farming was doing to revolutionise farming in Africa. He also noted that the start-up offers one of the highest Return on Investment (ROI) in the agritech investment space in the country. He added: â€œWe are very excited by the fact that we have

made this far in the competition. We know that our mission to connect people to farmers, invest in commercial farming in Africa and empower youths to create wealth is never missed and we are fully committed to making this happen. This would be the basis of our pitch at Georgetown University.â€? According to YAP DC, â€œThe purpose of the event is to showcase the growth and impact of the private sector across the African continent and facilitate a discussion on opportunities to continue this success.

Marriott Introduces NewTravel Program Marriott International has launched a global marketing campaign introducing Marriott Bonvoy (MarriottBonvoy.com). The new name replaces Marriott Rewards, The Ritz-Carlton Rewards and Starwood Preferred Guest (SPG). The campaign celebrates Marriott Bonvoy as a travel program with the tag line â€œRewards Reimaginedâ€? through its 30 hotel brands, extraordinary experiences and rich member benefits. The comprehensive campaign encompasses advertising across television, digital video, mobile, print, social media, out of home, and cinema, as well as special events and member access to partner experiences around passion points like sports and entertainment. In addition, Marriottâ€™s websites and mobile apps, co-branded credit cards and original content such as Marriott Bonvoy guest-room television and digital publication Marriott Bonvoy Traveler all reflect the new name. â€œMarriott Bonvoy expresses the joy of â€˜good travelâ€™ made possible

by our unmatched portfolio of hotels, culture of hospitality and unique member benefits,â€? said Karin Timpone, Global Marketing Officer, Marriott International. â€œOur aim is to build awareness for Marriott Bonvoy and to inspire more people to travel.â€? Highlighting the campaign would be television spots directed by Oscar-nominated filmmaker Jean-Pierre Jeunet in conjunction with Marriott Creative and Content Marketing and the agency Observatory Marketing. Each whimsical television spot is filmed in a magical realism style which is Jeunetâ€™s signature, with two-time Oscar-winner Janusz Kaminski overseeing the cinematography. The results are short vignettes filmed at Marriott International properties including The Ritz-Carlton, Kyoto, W Verbier, JW Marriott Nashville, The Westin Golf Resort & Spa Playa Conchal, Sheraton Grand Hotel, Dubai and the Courtyard by Marriott Sedona. The Marriott Bonvoy campaign would span 22 countries pulsing media throughout the year and

will take advantage of major cultural events to further showcase the new travel program around the world. The campaign will include television advertising and digital video in the U.S., as well as in other global markets in Asia, Europe, North America and South America. The initial television spot would premiere in the US during the 91st Oscars and in another first, would be featured within an insulated commercial pod during the broadcast on ABC. The media was planned by Marriott One Media, a dedicated unit within Publicis Groupe. Marriott is also bolstering its experiential marketing partners by entering into a multi-year agreement with Premier League powerhouse Manchester United Football Club. The marketing partnership brings together sales and marketing activities around the globe. Marriott Bonvoy branding will appear prominently on ground-level â€œdigiboardsâ€? within Old Trafford stadium and will be visible during globally televised matches.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Mind Your Language and Your Body Mind Your Language and Your Body As a CEO, Manager and Supervisor, what you say and do is very important to everybody who deals with you on a daily basis. In my many years of being in the corporate world and executive leadership coaching and coordination, Iâ€™ve found out that many executives do not pay enough attention to what they say and do. Let me share my own story with you on this very crucial topic, which is key at the executive level because at this level, your technical competence is a given, what becomes vital are the little â€œfoxesâ€? that can make or break you. Back to my story. At the verge of getting into executive management level proper, as a senior manager, I was sent to what is called, Development School in South Africa. At the Development School, many things are assessed, especially, your speech, leadership, body language, relationship management, etc. But, I did not know these before I went to the School. So, I got there and was put into all kinds of scenarios and role plays. Some I passed very well, some not so well, because, I did not understand what was being tested. I did not realize that the invigilators were not interested in the hard stuff or you solving the problems, but were focused on the way you solved it, (critical thinking) and how you handled yourself. At the end of the assessment, I passed overall, but not the way I would have wanted to pass, it was marginal. I was distraught! I had never not done well in tests and assessments, so it was painful to have done so badly in my view and this was all because I focused on the hard stuff and paid little attention to my language and body. The way, what and how you talk and use your body are areas organizations do not teach consciously (this does not apply to the organization that trained me. They make a conscious effort to teach their staff these skills, which was why I attended the School in the first instance). What we find is organizations in Nigeria and Africa only teach their staff what they need to do to get the work done and excel in the jobs they have been given, but do not teach them what they need to know to be rounded individuals in order to help them grow and get the best out of them. We then expect them to manage people and our customers at the highest levels and achieve excellent results. This ends up being impossible because, you cannot give what you do not have. Below are some of the most common body language mistakes to avoid if you want to make a great impression as a leader from Lolly Daskal, Global Leadership Coach and Founder of Lead from Within and I. Clashing body cues and spoken words. If youâ€™re saying â€œLetâ€™s all work together and make this workâ€? while your hands are crossed against your chest, youâ€™re likely coming across as confusing. People tend to trust nonverbal messages over verbal ones when the two are at odds. If you want people to believe your conciliatory words, uncross your arms and appear friendly, approachable and open. Raising your chin when you speak. While you definitely want to be proud of what youâ€™re saying, a raised chin is a sign that you feel superior to the person youâ€™re speaking with. Show respect by

lowering your chin and staying evenly face-to-face. Putting one foot out the door. If you want to see where a personâ€™s interest truly lies, look at their shoulders and feet. One of the first indicators that someone is trying to leave a conversation is when they turn a shoulder or a toe away. To show engagement and interest, keep your body directed at the person in front of you. Lack of eye contact. When you fail to maintain eye contact with someone whoâ€™s speaking, youâ€™re signaling a complete lack of interest. Lack of eye contact will shut down even the most enthusiastic speaker. Establish the habit of thoughtful eye contact to show your interest. Constant fidgeting. Have you ever had a conversation with someone who couldnâ€™t stop moving? Feet bobbing up and down, swaying back and forth, making little motions with their armsâ€”fidgeting sends a message of stress bordering on anxiety, and itâ€™s both unnerving and extremely distracting. When you have something to say, relax your body and try to be as still as possible so your words come out strong and your body doesnâ€™t give away cues of your stress. Not giving enough space. This one is especially important: give people enough space. People who lean right into you and speak inches away from your face seem to be taking advantage of their power. Nobody likes to feel their space has been invaded. Unless youâ€™re signaled an invitation to come closer, the best body language is to stay at least an armâ€™s length away. Donâ€™t back up too far, though, or youâ€™ll come across as unapproachable or uninterested. Stand just close enough to show youâ€™re engaged, and donâ€™t lean in or out too much. Looking at your watch. Have you ever been distracted in a meeting or conversation when the person youâ€™re trying to connect with keeps looking at their watch? We all know that means theyâ€™re checked out, uninterested or indifferent to what is being said. Stop looking at your watchâ€”that goes for your phone, tooâ€”and donâ€™t let your body language signal boredom. Everyone wants to make a good impression, no matter what their position or title. But when your body is saying one thing and your words another, thereâ€™s a better-than-average chance youâ€™re making a poor impression. Review these common mistakes from time to time and make sure youâ€™re not guilty of any of them and if you are avoid them or correct them. Giving feedback: when you give feedback, make it constructive. Donâ€™t destroy peopleâ€™s self-esteem and embarrass them when giving feedback irrespective of whether it is being done in private or within a group of people. Secondly, always start from the positive. Tell them what theyâ€™ve done well first and then tell them how they couldâ€™ve improved things. This sends a message that you support them and want them to succeed. Always remember that as a leader, your body language will speak volumes, make sure you are mindful and paying attention to the message you are sending and to what you are saying.

Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012

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Zenith Bank Shows Resilience Growing profit before tax to N232 billion and paying dividend of N88 billion for the year ended December 31, 2018, amidst the challenging environment were signs of resilience and industry leadership by Zenith Bank Plc writes Goddy Egene

Zenith Bank Plc last week became the first lender to announce its audited financial results for the year ended December 2018. The bank showed significant resilience, ending the year with higher bottom-line and delighted shareholders with high dividend. According to the results, gross earnings stood at N630.344 billion compared with N745.189 billion in 2017. It grew its net interest income and operating income by 15 per cent and eight per cent respectively as it was able to ensure improved cost efficiencies across the business. This focus on cost efficiencies is yielding tangible benefits as the group recorded its lowest ever cost-toincome ratio at 49.3 per cent from 52.8 per cent in 2017. Net interest income improved to N295.594 billion compared with N257.991 billion in 2017. The bankâ€™s risk-centric approach also ensured that cost of risk reduced significantly from 4.3 per cent in the prior year to 0.9 per cent in 2018. This was reflected through the major drop in impairment charges by 81 per cent, from N98.29 billion to N18.372 billion. In the same breadth, coverage ratio increased by 34.2 per cent from 143.4 per cent to 192.4 per cent over the same period, reflecting a prudent disposition to credit risk management. Cost of funds also moved in the positive direction, declining by 41 per cent from 5.2 per cent in 2017 to 3.1 per cent for the year, supported by a 33 per cent decrease in interest expense over the same period, demonstrating a robust treasury and liquidity management. As a result, profit before tax (PBT) rose by 16.2 per cent from N199.319 billion to N231.685 billion, while profit after tax (PAT) grew by 11.3 per cent to N193.424 billion from N173.791 billion in 2017. According to the bank, record PBT was achieved through the groupâ€™s optimisation of its cost of funds, cost-to-income ratio and cost of risk, ensuring that earnings per share strengthened by 11 per cent to N6.15. Based on the improved performance, the directors have recommended a final dividend of N2.50 per share which in addition to the N0.30 per share paid as interim dividend amounts to N2.80 per share, compared to N2.70 in 2017. Customer deposits grew by seven per cent led by an increase ofN109 billion in savings and an increase of N122 billion in current accounts providing it with a platform to rebalance its deposits mix. Zenith Bank explained that in 2018, expensively purchased deposits were foregone in favour of cheaper and more stable deposits

resulting in a reduction of expensive and shorter dated deposits by N110 billion. On the asset front, this increased by six to close the year at N6 trillion. Also, the groupâ€™s efforts to deepen its roots in the retail segment have started yielding benefits. This has resulted in a remarkable increase in the volume of transactions across various electronic platforms as well as significant customer acquisitions. This growth in transactions on its digital channels continues to support its retail push as fees from e-products increased by 44 per cent over 2017 with retail deposit balances also growing by 25 per cent. The bankâ€™s balance sheet remains shockproof as loan to deposit ratio, liquidity ratio and capital adequacy ratio were 44.2 per cent, 72 per cent and 25 per cent respectively and all above the regulatory threshold. Managementâ€™s outlook is positive for 2019, supported by a fairly stable inflation rate, converging foreign exchange market and near target oil production. The Group will continue its investment in the retail segment of the market to consolidate its leadership position in both the retail and corporate segments while it maintains its shock proof balance sheet. Consistent with this superlative performance and in recognition of its track record of excellent performance, the bank was recently ranked as the Most Valuable Banking Brand in Nigeria in 2018, by The Banker Magazine. Also, Zenith Bank was recognised as the Best Corporate Governance Bank in Nigeria by The World Finance for the sixth time just as Ethical Boardroom, a Europe based Boardroom

We expect the cost optimisation strategy of the company to continue to support the companyâ€™s proďŹ tability even as it deepens root in the retailing segment of the business. Also, we expect the group to leverage the improving macro environment to drive loan growth, thus impacting on future performances

watchdog reaffirmed this recognition by naming the bank as the Best Bank in Corporate Governance in 2018. In addition, the bank was recently named as the Best Institution in Sustainability Reporting in Africa 2018 (SERAS Awards) and the Bank of the Year 2018 (BusinessDay). Zenith Bank Plc became the first Nigerian bank to successfully integrate and launch Unstructured Supplementary Service Data (USSD) payments on Point of Sales (USSD on POS), enabling customers to pay for goods and services via POS terminals in merchant locations or on ecommerce websites without the use of cards. The innovative payment solution, which is powered by CoralPay, allows Zenith Bank customers to use the *966# Eazy Banking (USSD) to pay for goods and services on POS terminals in merchant locations or on ecommerce websites through the generation of a payment code on the POS terminal which is then confirmed by the customer using their USSD pin. Commenting on the launch of the new payment solution, the Group Managing Director and Chief Executive Officer of Zenith Bank Plc., Mr. Peter Amangbo, noted that the bank had always been at the vanguard of technological innovations geared towards creating value for its customers. â€œThis solution is an exciting and highly innovative initiative in promoting financial inclusion, facilitating payments by customers either remotely in the comfort of their homes/ offices or at merchant locations without the use of a payment card. With this solution, customers in remote locations plagued with challenges of poor Internet access can now carry out transactions easily using their feature phones,â€? Amangbo said. Analystsâ€™ assessment Assessing the results, analysts at WSTC Securities Limited, said gross earnings declined due to seven per cent and 30 per cent recorded across interest and non-interest income, respectively. They explained that interest fell as a result of lower interest accruing from loans and advances and treasury bills. â€œ While we attribute the decline in interest income from loans and advances to management risk aversion to risk assets which saw loan books shrunk by 10 per cent, management blamed the decline to early repayment of shortterm borrowings (bank overdraft facilities) as customers lean towards longer-term loans. â€œAlso, we noted a decline in interest from treasury bills despite the increase in value by

seven on account of lower yields on government securities during the reporting period which has declined by 600bps relative to 2017 levels,â€? they said. However, the analysts added that on the flip side, interest expense declined faster than interest income by 33 per cent from N216.6 billion to N144.5 billion in 2018 mainly driven by the sharp decline of 61 per cent recorded in interest on time deposits from N108.7 billion to N42.3 billion in 2018 as well as a surge of 28 per cent on customers savings deposits, reaffirming management strategic shift from expensive to cheaper deposit mix. â€œAs a result, net interest income rose by 15 per cent from N258 billion to N295.6 billion leaving the net interest margin flat at nine per cent. Cost of funds for the period eased by 210 basis points (bps) from five per cent in 2017 to three per cent in 2018,â€? they added. WSTC Securities noted that Zenith Bank recorded a significant decline of 81 per cent on its impairment loss charged for the period due to the enhanced assets quality on the back of the impact of IFRS 9 implementation on its 2018 opening balances. According to them, on the expense front, the aggregated operating expense for the group rose slightly by one per cent despite the 12 per cent increase in AMCON levy from N25.6 billion to N28.5 billion. On the strength of lower interest expense and impairment loss charged for the period, the cost-to-income ratio for the group declined from 53 per cent to 49 per cent. Consequently, PBT rose by 16 per cent from N199.3 billion to N231.7 billion, while PAT settled at N193.4 billion, an 11 per cent increase from N174 billion in 2017. Recommendation WSTC Securities said despite the challenging macro-environment, Zenith Bank remain resilient in maximising value for its stakeholders. In their recommendation, they said: â€œWe expect the cost optimisation strategy of the company to continue to support the companyâ€™s profitability even as it deepens root in the retailing segment of the business. â€œAlso, we expect the group to leverage the improving macro environment to drive loan growth, thus impacting on future performances. We have a revised forward EPS of N6.29 and a fair value estimate of N34.82. â€œAt the current market price of N25.30, the stock is trading at a discount of 37.63 per cent to our fair value estimate. Thus, we revised our recommendation on the stock to a buy.â€?

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Aftermath of Insurance Recapitalisation Cancellation Although the National Insurance Commission last December announced the cancellation of its recapitalisation exercise for the sector, Ebere Nwoji reports that a lot of firms in the industry are currently shoring up their capital and repositioning their businesses

The recapitalisation exercise for operators in the insurance firms initiated by the National Insurance Commission (NAICOM) July last year, though was cancelled midway as a result of opposition by some industry stakeholders, especially shareholders, it is apparently dictating the tune of the industry presently, notwithstanding the cancellation. Indeed, an examination of industry trend shows that the minimum solvency capital levels stipulated by the commission in the initiative is apparently controlling activities of the operating firms as members of the insuring public now base their choice and judgement of capacity of firms that would underwrite their businesses on the new capital level. This has put a lot of operating firms on their toes as they search for ways of upgrading their capital to the amount that was announced by NAICOM before the cancellation. This has seen some firms opening their doors to interested foreign investors. For instance, NEM Insurance Plc, which recently diluted its ownership structure to inject new funds by allowing a leading African Private Equity Fund Manager, the Advanced Finance and Investment Group(AFIG Funds) to acquire 29.9 per cent stake in the company. The transaction now makes AFIG Funds the largest shareholder in NEM, and marks the commencement of a strategic partnership between AFIG Funds and NEM, as the Company embarks on its next growth phase as a top-tier player within the Nigerian Insurance Industry. Speaking on the deal, the Group Managing Director of NEM Insurance, Mr Tope Smart, had said: â€œThis partnership with AFIG Funds is the outcome of several years of constructive engagement, as well as a thorough internal strategic process to identify and engage with the best long-term institutional partner for our company. â€œWe look forward to continue to benefit from AFIG Fundsâ€™ extensive experience investing in strong African companies particularly in financial institutions.â€? Similarly, recently, Ensure Insurance completed deal on its acquisition by Allianz group and is now among the top tier insurance firms. Capital market experts also said they are

entertaining series of enquiries on Nigerian insurance firms by foreign investors who wish to take stake in these firms. Feelers from the experts tend to explain that with the new capital trend in the industry, some existing firms who ordinarily were hesitant admitting conditions offered by their wooing foreign investors are now accepting them to meet up urgent demand to enhance their capital. Confirming the fact that the tier based capital, though has been cancelled but is ruling the industry, Mr Eddie Efekoha, immediate past president of NIA and president Chartered Insurance Institute of Nigeria, noted retail market development is a big challenge facing the industry today. According to him, last year, the industry operators, traded to their limit as far as corporate business was concerned, adding that at present, what they need is to develop the retail segment of insurance business, â€œAs an industry, we have traded to the limit,

As an industry, we have traded to the limit, as far as corporate insurance is concerned, all corporate bodies are buying insurance but there is hard nut at the ray base which is retail nobody will dispute that progress has not been made in this direction and insurersâ€™ presence has not been felt at micro or retail level

as far as corporate insurance is concerned, all corporate bodies are buying insurance but there is hard nut at the ray base which is retail nobody will dispute that progress has not been made in this direction and insurersâ€™ presence has not been felt at micro or retail level. â€œPeople have been licenced to trade in all areas but have not done a lot. The missing link is build up to the publicity,â€? he noted. According to him, in the insurance market today, the consumers are detecting capital for operators, adding that some of them have said that N9 billion is the minimum capital adequate for the industry. He urged operators not to relax in building up their capital, noting that insurance buyers especially big corporate buyers like ExonMibil and the Dangote Group have some categories of their businesses that select underwriters through capital base. â€œCurrently, insurance buyers especially big corporate buyers determine companies that will underwrite their business using capital as parameter of measurement of fitness of firms that will handle their business. â€œRecently, a broker said his client had informed him not to place risks with any underwriting firm with less than N9 billion capital as proposed in the cancelled policy. â€œWith such developments, it is now immaterial whether the industry regulator withdraws the policy because it has opened the eyes of insurance consumers. â€œWhat I heard from our office recently was that there is a broker that said that my client has already seen that N9 billion is what is required, so please go and shore up. â€œIt is immaterial whether the commission has withdrawn from the TBMSC or not. Of course, we are all here in this market, there is a particular transaction in Exxon Mobil for several years that never respected the N3 billion capitalisation and to that extent, some of us whose capital were not up to that minimum were excluded,â€? he had stated. The Managing Director, NSIA Insurance Limited, Mrs. Ebelechukwu Nwachukwu, had said, the sector in 2018, grew significantly in terms of the quality of products insurers rolled

out, the quality of channels of distribution, the quality of people they engaged and the commitment of insurers to grow the people, thereby, increasing insurance penetration in the country. According to her, â€œIf we can push all of these over and over in 2019, I have no doubt at all that penetration will increase and premium will rise also. â€œToday, the industry is paying better salary and so people are better; operators study more than any other industry I have engaged with, they are dedicated to writing examinations, attending seminars, conferences and workshops, they want to be heard and an insurance person wants to be heard intelligently.â€? Some operators especially those on tier three level who spoke to THISDAY on the development, said it was true the tier base minimum solvency capital was cancelled but practically, the minimum capital level stipulated by the initiative has directly or indirectly come to stay. The National Insurance Commission (NAICOM) on July 25th 2018, rose from its bi-monthly insurersâ€™ committee meeting and announced a new capital base for operators in the sector. The new capital was then hinged on the magnitude of risks involved in the business each firm wants to underwrite as the commission in the capitalisation system which was risk-based, in place of the compliance base capital system. Initially, the regulator had given a January 1, 2019, deadline for implementation of the new capital system but later changed the deadline to October 1, 2018. The change in the implementation date had marked the beginning of trouble as some chief executives who were working towards the January 2019 deadline were thrown them off balance. More so, the use of their financial report for 2017 in measuring each firmâ€™s performance did not go down well with the operators. With the cancellation of the recapitalisation exercise last year, the capital base for the industry remains the same, meaning that non-life insurance firms are to continue to operate with a minimum of N3 billion capitalisation ; life insurance operators to maintain N2 billion and composite insurers are to maintain N5 billion minimum capital base.

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Focus on Gas Flaring Reduction Sylvester Idowu writes on efforts by the federal government to reduce gas flaring and boost revenue with the inauguration of Egbaoma Gas Plant in Delta State The effort of the federal government to improve dwindling oil and gas revenue through the participation of indigenous businesses in gas production activities recently received a boost with the inauguration of the PNG Gas Limitedâ€™s Egbaoma Gas Processing Plant (EGPP) in Ebedei in Ukwani Local Government area of Delta State recently. The $60 million EGPP is a wholly indigenous gas processing plant with capacity to process 30 million standard cubic feet of wet gas daily. It offtakes Wet Gas from the Platform Petroleum/ Newcross JV Flow Station to produce Liquefied Petroleum Gas (LPG), Propane, Lean Gas and Natural Gas Liquid (NLG). The plant contributes to the supply of LPG and Propane to the domestic market while the Lean Gas and NGL are supplied to the industrial sectors. Egbaoma Gas Processing Plant has produced over 35,000 Metric Tons of gas for Nigerian market since inception. This is in addition to achieving an excellent health, safety and environment performance of about 1.44 million lost time incident (LTI) free man hours at the end of January 2019. The plant was wholly constructed by Nigerian engineers in line with the local content policy of the federal government, thus signalling that local engineers and artisans can compete with their counterparts in advanced countries. Performing the inauguration of the plant in the sleepy town of Ebedei community, the Group Managing Director , Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru was elated about the feat achieved by both the investors and Nigerian engineers. The high and mighty in the oil and gas industry in the country were on ground for the epoch making event which has started transforming the predominantly farming community into a major gas hub and a cosmopolitan city. Baru, whose face betrayed his excitement with the development said the plant was the â€œonly onshore third party gas extraction and fractionation plant of its kind in Nigeria today and a mascot of the new gas revolution.â€? Continuing, he said the plant signpost the nationâ€™s

engineering prowess and local content capacity. The NNPC boss commended the promoter of the project, Engr Charles Osezua , Chairman Owel-linkso group for the initiative, noting that this was not his first voyage into gas distribution project in the country. â€œThis is not your first start-up. You had done it before with Gaslink that started gas distribution in the Ikeja, Lagos area which has spread to Apapa and beyond,â€? he said. Baru urged gas operators that are close to the Egbaoma gas plant to come together to supply gas to the plant to maximise its capacity to commercialise flared gas, stressing that the move will be one of the key steps towards ending gas flare in the country. He also said steps were on to effectively monetise gas resources for national economic growth, adding â€œI also wish to use this medium to assure Deltans and Nigerians that the journey to effective monetisation of our vast gas resources

for sustainable economic growth and complete end to gas flaring is underway and the future is very bright.â€? The Chairman of Owel-Linkso, promoter of Gas train and Director in PNG Gas limited, driver of the project, Engr. Osezua, in his remark thanked members of Ebedei community for their friendliness and peaceful disposition towards the project which took off in the area five years ago. He said about $60 million had so far been invested in the project, adding that the plant produces 30 million standard cubic feet of wet gas daily . â€œThe gas plant offtakes wet gas from the Platform Petroleum /Newcross JV flow station to produce liquefied petroleum gas, LPG, propane, lean gas and natural gas liquids, NGL. â€œThe plant contributes to the supply of LPG and propane to the domestic market. The lean gas and NGL are supplied to the industrial sectors,â€? he said. He added that Egbaoma which is entirely an

indigenous gas processing plant has produced about 35,000 metric tonnes of gas for the nationâ€™s domestic market since it took off. He said about 500 homes currently utilise the LPG from the plant, adding that they have also stimulated interest among Nigerians to buy propane for use. Osezua, however made a special appeal to the GMD of NNPC to develop an industrial gas hub that would bring all gas producers together, thus eliminating multiplicity of gas plants in the country. He also appealed for support for them to replicate the gas processing plant in other parts of the county. Gabriel Elere, who also spoke gave an overview of the plant acknowledging that the gas processing plant has started creating indirect employment in the neighbourhood with eateries and petty shops already springing up around the plant to serve staff.

Standard Chartered Posts $15bn Operating Income Standard Chartered Plc has released its results for the year ended 31 December 2018. The bankâ€™s operating income stood at $15 billion, representing an increase by five per cent, while its Risk Weighted Assets (RWAs) down by eight per cent. The result showed that the bankâ€™s broad-based by product, with transaction banking growth was particularly driven by cash management which grew by three per cent. Similarly, net interest income increased by eight per cent and the net interest margin improved three basis points to 1.58 per cent. â€œWe have made tremendous progress securing the foundations of the business since 2015, resulting in a third successive

year of underlying profit growth. â€œOur refreshed priorities announced today will help realise the true value of the franchise. We will measure this not only in monetary terms with double-digit equity returns and significant shareholder distributions targeted by 2021, but also in the positive impact to our clients, stakeholders and communities. â€œWe are determined to drive commerce and help our clients achieve prosperity, while doing everything that we can to make the world a cleaner, safer and more sustainable place,â€? bankâ€™s Group Chief Executive, Bill Winters said in a statement obtained yesterday. The results also showed significant improvement in

profitability driven by higher quality income growth with cost and asset origination discipline. The Group delivered $3.2 billion in gross cost efficiencies, exceeding the target it had set in November 2015. The UK bank levy was $324 million; in 2021 it would be chargeable on only the Groupâ€™s UK balance sheet. Its asset quality also improved due to a continued focus on higher quality origination within a more granular risk appetite, while its credit impairment of $740 million was 38 per cent lower. Meanwhile, Standard Chartered Plc has announced refreshed strategic priorities that build on the significant progress made by

the bank over the last three years. The refreshed priorities and related actions are expected to deliver a return on tangible equity (RoTE) of at least 10 per cent for the bank by 2021 and generate significant surplus capital that is intended to be distributed to shareholders if not deployed to fund additional growth. The refreshed priorities focus on investing to accelerate growth in the Groupâ€™s differentiated network and affluent client businesses, optimising performance in lower-returning markets, driving productivity, and building on existing digital credentials to innovate. These actions would position Standard Chartered as the leading bank for clients based or doing

business in Asia, Africa and the Middle East. The Refreshed actions and priorities for 2019 to 2021 includes to invest to accelerate growth in our differentiated international network and affluent client businesses; eliminate residual drags on returns from low-returning markets, including India, Korea, the UAE and Indonesia; streamline operations to enhance client satisfaction and drive productivity; and embrace digitisation and partnerships to reinforce competitive advantage and profitably disrupt It also embeds a performanceorientated and innovative culture emphasising conduct and sustainability. Winters, was quoted in a

separate statement to have said: â€œOver the last three years we have fundamentally overhauled the bank. It is now a solid platform off which we can grow profitably and sustainably to deliver a double-digit return on tangible equity by 2021. â€œWe will achieve this through relentlessly focusing on where we have a distinct competitive advantage, attacking the residual causes of lower returns and ramping-up innovation and productivity. â€œWe view the profound technology-driven changes in banking as an opportunity: we are big enough to be relevant to our most complex clients and partners, yet nimble enough to be a profitable disrupter.â€?

NBCC Hosts Forum on Brexit As the date for Brexit draws closer, the Nigerian-British Chamber of Commerce (NBCC) has engaged stakeholders and member partners. The meeting was to discuss the impact and opportunities for key stakeholders within the Nigerian and British business communities in relations to trade with the United Kingdom in the coming

months. The meeting which was organised by the commission was aimed at enlightening stakeholders on preemptive steps to be taken in positioning their businesses and taking the lead with great advantages the BREXIT has to offer. It also availed member partners and businesses networking opportunities as it was attended by dignitaries

such as the Deputy High Commissioner Laure Beaufils, Country Head, Common Wealth Enterprise Investment Council (CWEIC), Obinna Anyanwu, and Ambassador. Chinedu Osakwe amongst others. Delivering the keynote speech, the British Deputy High Commissioner to Nigeria, Laure Beaufils, was quoted in a statement to have

said one major opportunity the Brexit presents to stakeholders was that it avails the British government the independence to put in place its own trade policies as a country, alongside other countries which includes Nigeria and other business communities with affiliation with Britain. She also stated, that the increased trade relations and

engagement would be beneficial for investors and trading markets as the relationships would not just be limited to commercial affairs, but through British establishments and commitments, issues relating to climate change, environment, improved investments for job creation, trade & investments would be addressed as British companies are already looking

to add value to the partnerships and increasing investment opportunities within Africa. Also speaking at the event, the Director General, Lagos Chamber of Commerce and Industry, Muda Yusuf, said there were lots of opportunities for trade between Nigeria and the UK only if the two countries create the enabling environment.

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FIRS, Recent Court Ruling and Best of Judgement Question Taiwo Oyedele Paying taxes is difficult, especially when taxpayers donâ€™t have much to show for the taxes they pay. But to deliver social services government needs tax. Balancing these two conditions can be a daunting task. If for whatever reasons people donâ€™t pay their taxes, does government have the right to compel them and if so to what extent can this power be exercised? This is the thrust of a recent court case between the Federal Inland Revenue Service (FIRS) and a taxpayer alleged to have defaulted in filing returns and paying taxes. Facts of the Case FIRS assessed Theodak Nigeria Limited, a company engaged in the letting of office premises, to tax by deeming the value of the companyâ€™s property as its turnover and then deemed 20 percent of the value as the taxable profit on which the tax rate of 30 percent was applied to determine the tax payable relying on section 30(1)(a) of the Companies Income Tax Act (CITA). Although not originally stated as the basis for the assessment, the FIRS also made reference to section 65 of CITA in its defence. The company challenged the assessment and asked the Federal High Court (FHC) to declare the assessment invalid and restrain FIRS and/or its agents from taking steps to enforce the assessment. Partiesâ€™ positions The company argued that FIRS lacks the power to assess it to tax based on the value of its property since section 30(1)(a) requires the assessment to be on a companyâ€™s turnover. The company further argued that â€œvalue of propertyâ€? is not income chargeable to tax under CITA. The FIRS argued that it has the power under the section to employ a best of judgement (BOJ) assessment to determine a companyâ€™s profits and assess the profits to tax. It also argued that the company did not object to the assessment within 30 days of receipt making the assessment final and conclusive in line with section 69(1) of CITA. The Federal High Court (FHC) Decision The FHC held that though section 30(1) (a) allows FIRS to assess the company to tax on turnover, the value of the companyâ€™s property cannot be used as turnover unless the company is in the business of selling properties and had disposed that particular property. The FHC also held in interpreting section 69(1) of CITA that a taxpayer is not required to object to an assessment within 30 days of receipt because the word â€˜mayâ€™, connoting a discretion, is used in the section. So, failure to object within 30 days cannot deny the company access to the court. Section 30 of CITA grants the FIRS powers to charge a company to tax on a fair and reasonable percentage of turnover as contained in the companyâ€™s returns, it does not grant the FIRS powers to deem a companyâ€™s turnover. Where a company fails to file a return, the relevant provision is section 65(3) of CITA which empowers the FIRS to deem a companyâ€™s total (taxable) profits using its best of judgement. Again this section does not empower the FIRS to deem a companyâ€™s turnover. The relevant sections of CITA Section 30(1)(a) grants the FIRS power to assess and charge a company to tax on a fair and reasonable percentage of the turnover of the trade or business as the Board (FIRS) may determine where: (a) it appears to the FIRS that a company has no â€œassessable profitsâ€? or; (b) the assessable profits, in FIRSâ€™ opinion, are less than might be expected to arise from that trade or business; or (c) the true amount of the assessable profits of the company cannot be ascertained. Section 65(3) provides that where a company has not delivered a return and the Board (FIRS) is of the opinion that such company is liable to pay tax, the FIRS may, according to the best of its judgement, determine the amount of the â€œtotal profitsâ€? of such company and make an assessment accordingly â€Ś Section 69 says if any company disputes

Fowler

the assessment it may apply to the FIRS, by notice of objection in writing, to review and to revise the assessment made upon it. The application shall be made within 30 days from the date of service of the notice of assessment â€Ś Critical questions arising from the above sections of the law What is turnover? â€“ Given that turnover is not defined in CITA, it will take its ordinary or technical meaning. Based on Accounting Standards, turnover is the net sales generated by a business arising from the ordinary activities of the entity. Interestingly section 30(1)(a) of CITA does not empower the FIRS to deem a companyâ€™s turnover but rather to assess and charge a company to tax based on a fair and reasonable portion of â€œthe turnoverâ€? (as contained in the companyâ€™s returns). FIRS has over time erroneously interpreted this section to mean that it has powers to deem a companyâ€™s turnover. So, what if a company fails to file returns? â€“ In this case, the relevant provision is not section 30(1)(a) but section 65(3) which empowers the FIRS to determine the â€œtotal profitsâ€? of a company liable to tax and had failed to file a return to the FIRS.

Therefore, the use of a standard percentage of turnover by the FIRS to assess all companies is at best a judgement but certainly not the best of judgement

How is â€œassessable profitsâ€? used in section 30 differ from â€œtotal profitsâ€? used in section 65? â€“ Generally, the difference is the treatment of capital allowances. While the former is before relief for capital allowances the latter is after. The logic is that a company that files a return (under section 30) should already provide information about its assets and capital allowances hence it will be counter intuitive for FIRS to deem what is already a matter of fact. What FIRS is required to do is deem the â€œassessable profitsâ€? and then relief the actual capital allowance due to the company in order to arrive at the total profits on which tax is charged. On the other hand, where a company has not filed a return (under section 65) and therefore has reported neither its turnover nor capital allowances, the FIRS is empowered to use its best of judgement to deem the companyâ€™s total (taxable) profits on which tax will be charged. How does best of judgement (BOJ) work? The use of the word â€œbestâ€? presupposes that the judgement (or opinion) must be based on sound analyses and careful consideration in line with the principles of natural justice and must reflect the reality as reasonably possible. This means the judgement cannot be arbitrary. In fact, it should not be the same for different companies and may even differ for the same company from one year to another. Therefore, the use of a standard percentage of turnover by the FIRS to assess all companies is at best a judgement but certainly not the best of judgement. Deductions and conclusions From the above analyses and the FHC decision, the following can be established: 1. The FIRS has no powers to deem a companyâ€™s turnover under any circumstance. Its power is to deem assessable or total profits under different circumstances. 2. The powers granted under S30 is with respect to where returns containing assessable profits have been filed by a company but

not to the satisfaction of the FIRS in which case it may assess and charge the company based on a fair and reasonable percentage of its turnover. 3. In the event that a taxpayer fails to file tax returns (thereby making it impossible to deem assessable profit based on its turnover) the law empowers the FIRS to deem the total (taxable) profits in line with section 65(3) using its best of judgement. 4. Best of judgement must be exercised in line with principles of natural justice, it cannot be arbitrary. 5. Where there is an assessment, the taxpayer has the discretion to object or to appeal. The use of the word â€œmayâ€? means discretion between options to either object to the FIRS or to appeal to the court. 6. An assessment must be valid to be capable of becoming final and conclusive as one cannot build something on nothing. 7. With respect to objection under section 69, even though the FHC held that it is not mandatory for a taxpayer to object to an assessment, my view is that a taxpayer who decides not to object to the FIRS must appeal to the Tribunal/Court within 30 days of receipt. This is consistent with Paragraph 13 of the 5th Schedule to the FIRS (Establishment) Act (which overrides CITA). 8. Based on the Constitution, even where an assessment has become final and conclusive the taxpayer cannot be denied the right of access to the court. What the outcome would be is entirely a different issue. My closing thoughts While this decision by the FHC challenges some of the long held practices of the FIRS, it also raises a number of unanswered questions. As businesses continue to evolve in a dynamic and progressive world, the laws applied in taxing them should not be outdated and retrogressive. This therefore calls for an urgent review of the tax laws. Oyedele, is the West Africa Tax Leader, PwC Nigeria

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 27, 2019

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EDUCATION FUOYE: Surviving against the Odds Despite challenges facing the seven-year-old Federal University, Oye Ekiti, especially in the areas of infrastructure and dual campus structure, the management of the institution has continued to weather the storm through strides in infrastructure, staff development and academic empowerment. Raheem Akingbolu reports

n 2010, when the federal government gave its nod for the establishment of nine more federal universities across the country, and sited one in Ekiti State, the news was well received from various quarters. But unlike other ones that took-off from a single campus, the Federal University, Oye Ekiti maintained a dual campus structure from the beginning with a budget meant for one. To succeed, the leadership of the institution has consistently demonstrated a high level of creativity and innovation to compete with others. In a recent encounter with the current ViceChancellor, Professor Kayode Soremekun, he opened up on how far the university has gone since inception and the challenges he and his team are contending with in their determination to plant a real university idea in Oye and Ikole Ekiti. â€œI was not the pioneer VC but because my two predecessors had fleeting stay in FUOYE, the bulk of the job fell on me. Both of them; Professor Chinedu Nebo, who later served as Minister of Power and Professor Isaac Azuzu, spent five years, which is a term and when I came in, I met many uncompleted projects that needed immediate attention. By then, our students, who were not receiving lectures under conducive environment, had started agitating, hence the need for me to mobilise the contractors back to site and hit the ground running almost immediately,â€? Soremekun had stated during the interview that preceded the tour of the Oye and Ikole Campuses by this reporter. Sharing his experience in the university in the past two years, the VC admitted that it has been very challenging and sometimes almost frustrating because of the need to attend to many things at the same time on both campuses. The Professor of International Relations also pointed out that the fact that he is like a semi pioneering VC has also made the job very tasking. â€œLike I said earlier, when we came in, a lot of the buildings were abandoned. After several efforts, we had to renew our vigour to build them up, especially after the discovery that some of the buildings were awarded but abandoned midway. We summoned the courage and mobilised the contractors back to site. According to him, â€œI came here like a semi pioneering vice-chancellor. This is a seven-year-old university that has produced three VCs because the first two jointly spent a term of five years. Again, here we are in a virgin land running a university that is not connected to national grid but runs on generator 24/7. Besides, we have two campuses and we must strive to replicate

One of the newly completed projects at the university whatever we do in Oye in Ikole Ekiti. We are building roads here and we are building in Ikole, we generate power here and we must do the same thing in Ikole Ekiti. Same goes for water and other facilities. By saying this, I am not trying to condemn the former vice-chancellors, knowing well they must have worked assiduously too to take the institution this far,â€? With seven faculties, 49 fully accredited programmes and a postgraduate school within seven years of its existence, despite contending with two campuses, but getting the same funding as those with one campus, Soremekun sees FUOYE as an institution destined for greatness. â€œWith the level we are and what we have been able to accomplish, I am not in doubt that we have surpassed the achievement of other university established the same time with FUOYE. Besides, our students are making us proud as they win local and international laurels from time to time. Just recently, a graduate of Mechatronics Engineering from FUOYE, Ibiyemi Pedro Sanni, won the Federal Institute of Industrial Research Oshodi (FIIRO) technopreneurs programme. There was also a case of three out of four of our students that won bronze medals in individual ranking in the

The Vice-Chancellor, Professor Kayode Soremekun

national Mathematics competition for university students, while FUOYE emerged 14th position out of 100 participating universities. At this point, it will be laxity on my part if I fail to commend my colleagues, both academic and non-academic staff, whose efforts have helped the university to excel all rounds. I have here a committed team and I am proud of them all.â€? His achievement in the area of infrastructural development and staff empowerment notwithstanding, Soremekun has recently received bashes from the zonal and local leadership of the Academic Staff Union of Universities (ASUU), who accused him of sundry malpractices and insisted that the VC be probed. When asked to clear the air around his frosty relationship with ASUU and the allegation that he is fond of giving irregular appointments to his cronies, Soremekun went down memory lane and spoke glowingly on many years of chummy relationship with ASUU in various institutions, including FUOYE. â€œI have no problem with national ASUU and I am committed to seeing the local chapter here in FOUYE succeed. But I think the national body must have been fed with wrong information about my position and activities. Of course, they have the right to react if they notice any step unfavourable to their members, but I feel as intellectuals, they should have done a thorough reality check, considering my open door policy and the fact that I am close to the rank and file of the association and even its national president, Professor Biodun Ogunyemi. Here in FUOYE, I am also committed to seeing ASUU and other similar bodies grow in a way that it would help the university community grow. In fact, our local chairman, Dr. Akinyemi Omonijo calls me comrade VC. â€œAs an individual, I have tremendous respect for ASUU and I am a witness to its success story. I remember some years back, an American professor who was in Obafemi Awolowo University, Ife briefly used to commend ASUU and wished that a body like it existed in the US to help address some issues. Having said that, I wonâ€™t like a situation whereby ASUU will break up under my leadership that is why I will continue to press for symbiotic relationship that will be beneficial to the development of the university,â€? Soremekun stressed. Reacting to the issue of irregular appointments, he dismissed it as nothing but feelings in some quarters which do not hold water. â€œThere is nothing like irregular appointment in FUOYE because we follow the laid-down rules in all that we do. Agreed, some people wrote a petition that there were irregular appointments but perhaps they were not aware that the said appointments were approved by the governing council in compliance with Federal Character Commission.

But in my style, I have always emphasised that any issue raised legitimately will be addressed on the floor of the senate.â€? Beyond administration and internal politics that are common in any organisation and human society, FUOYEâ€™s Public Relations Officer (PRO), Mr. Godfrey Bakji, who later led this reporter on a tour of the Oye and Ikole Campuses of the university, is confident that the success story of the institution will be told one day at the national level. He stated this while pointing out that Soremekun has positively changed the face of the university in two years. To this end, Bakji succinctly captured the current situation in the institution by describing it as a construction site. Some of the facilities inspected include a completed three-in-one science laboratory, central administration, library (under construction), Faculty of Pharmacy phase one (under construction) and Faculty of Management (under construction). Others are; the Theatre Arts Department (completed) Faculty of Law (completed) male and female hostels, as well as Faculty of Science Lecture Theatre. According to the PRO, who also corroborated the position of the vice-chancellor, some contractors who were working on some of the projects, including the central library, had absconded before Soremekun came on board. â€œIn 2014, the contractor working on the library left site but immediately Soremekun resumed office in 2016, he re-mobilised him and brought him back to complete his job. The current law faculty was initially the VCâ€™s office but it was considered small, hence the need to finish the central administration building that now houses the VC and other principal officers and convert the former VC Office to Law Faculty.â€? While commending Soremekunâ€™s creative ingenuity, the universityâ€™s spokesman singled out the three-in-one science laboratory and Faculty of Science Lecture Theatre as beauty to behold. â€œAs a man imbued with ideas, on arrival in 2016, Professor Soremekun had announced his decision to build the Faculty of Science lecture theatre through internally generate revenue,â€? he said adding that he initiated and completed it the same year. â€œAgain, the just concluded three-in-one science laboratory can only come with a man that is deep in innovation. He has been commended for this by many relevant bodies and individuals, including the Chairman of the school Governing Council, Professor Tunde Samuel, who described it a master piece,â€? the spokesman stated. When asked what he wishes for the university by the time he completes his five year term, Soremekun was quick to say: â€œBy the time I finish my term, I pray that the university idea must have been planted in FUOYE.â€?

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EDUCATION

Varsity Don Emphasises Cross-disciplinary Scholarship for National Devt Uchechukwu Nnaike Tertiary institutions in the country have been advised to popularise the potential of cross-disciplinary scholarships to enable the system â€œto overcome the limitations of overspecialisation and maximize the advantages of it for national development.â€? This advice was given by the Dean, Faculty of Humanities, Management and Social Sciences, Augustine University, Ilara-Epe, Lagos, Professor Aderemi Raji-Oyelade, while delivering the institutionâ€™s matriculation lecture titled â€˜STEM to STEAM: Advancing the Potential of Cross-disciplinary Literaciesâ€™. During the fourth matriculation ceremony of the university, held at the convocation hall, 71 fresh students took their oath of matriculation into Augustine University, which was granted an operational licence in March 2015 and was inaugurated on October 23, 2015 with two faculties. According to Raji-Oyelade: â€œA university is expected to be a centre of varying disciplines fused into a unilateral hub of knowledge, harnessing the resources of each field in the interest of humanity. The essence is to be able to integrate more and make the university more resourceful and instrumental in solving the problems of the common man. â€œWhat does it mean to be literate in the age of (the new media) of multiple scholarships

and multiple literacies? Without doubt, the new understanding of literacy in the new age is such that it invites multiple definitions, for literacy itself is a plural activity. â€œHow do we popularize the potential of cross-disciplinary scholarships for national development? How can we overcome the limitations of over-specialisation and maximize the advantages of it for national development? How do we maximize the dialogue of the disciplinesâ€Ś as a necessary means of attaining intellectual fullness?â€? He added that â€œspecialisations are necessary; specialisations are industrial inventions of the Malthusian imagination...But at its worst example, specialisations breed the indiscipline of mutually exclusive disciplines. â€œBut in this century it is those who are capable of crossing the boundaries of the disciplines who will make the difference; it is those who possess the ability of disciplinary transgressions who can interact beyond the borders of their own specialisations; those who privilege horizontal collaborations (across the planks or branches of the disciplines); those who embrace the advancement and deployment of technology in SSH, Educationâ€Ś and those who are not afraid to embrace the qualitative power of the imagination even when they are engaged in the empirical world of science. Raji-Oyelade added: â€œThe promotion of scientific inven-

tions without artistic/humanistic interventions is a movement towards mechanistic chaos, what can be imagined as progressive backwardness. Scientific/technological advancement without (the) ethical consideration of things runs the risk of foisting a generation of Frankensteins on the society. â€œThe character of crossdisciplinary practice is that

one discipline illuminates the other in a concentric, mutually functional way that intellectual literacy is achieved across and within the disciplines.â€? In his remarks, the ViceChancellor, Professor Steve Afolami acknowledged the proprietor for giving the school authority freedom to operate; a situation he said is not common with private university owners.

â€œWe thank the proprietor, His Eminence, The chancellor, the chairman and members of the Board of Trustees, the pro-chancellor and members of the governing council for the immense support they have given since inception and the freedom given to the vice-chancellor and his management team to govern the university according to

best practices as recognised internationally and as desired by the National Universities Commission (NUC).â€? Afolami also disclosed that the senate of the institution at the inception instituted academic awards for excellence to foster high academic standards and encourage healthy competition by students in all the programmes.

L-R: The Bursar, Augustine University, Epe, Lagos, Mr. Sunday Alabi; the Registrar, Mrs. Margaret Aziba; the Vice-Chancellor, Prof. Steve Afolami; and the Chairman, Governing Council of the university, Chief Gilbert Grant, during the fourth matriculation ceremony of the institutionâ€Ś recently

Afe Babalola Gets Greensprings Students FMEN Restates Awolowo Prize for Win $2,000 in School Commitment to Montessori Leadership Enterprise Challenge Education Funmi Ogundare eternal footprint and legacy, Few weeks after four students of to continue to grow their Ugo Aliogo The Foundation for Montessori Education (FMEN) has expressed its desire to drive the growth of Montessori education in Nigeria by ensuring that parents have the requisite knowledge to train and support their children between the ages of zero-three years. Speaking at the three-day Aid to Life parentsâ€™ training sessions in Lagos recently with the theme â€˜Effective Parentingâ€™, the Aid to Life Coordinator, Yinka Awobo-Pearse said they teach Montessori education free because they have realised that it is expensive and it is not accessible to all. She urged parents to use everyday materials to support their children, as it would help them to learn and develop. Awobo-Pearse explained that the aid to life was put together for FMEN to help parents with children below three years to see how they can support their children naturally at home. â€œChildren below three need to develop their movement, communication skills, selfdiscipline skills and independent skills. These are the skills that have been identified that if they develop them at that age and they go with those skills, they will become active learners in the classroom. This aid to life programme was based

on Montessori philosophy, which stated that children should be encouraged to learn independently because they have a natural ability to learn. â€œAll parents need to do is to provide the right environment and encourage the child to work. If a child is born into a family, he/she will learn the language and culture of such family. Therefore learning is a great ability for children. If we have the right environment that will encourage the child, the child will develop these skills,â€? she said. In her remarks, the Director General, Quality Assurance, Lagos State Ministry of Education, Mrs. Ronke Soyombo said the state government has done a lot in education particularly at primary and secondary levels. She stressed that in order to get that foundation right, there is need for parents to be carried along in the scheme of things and be well trained on what is expected on how to lay a solid foundation for their children. â€œWhat we have stressed on today is the need for parents to have good values for our children. If children can have good values, they can build academics into it and that is something that parents will be learning and they will also learn how to support their children within the next three days.â€?

All is set for the conferment of the Obafemi Awolowo Prize for Leadership, 2018 on the founder and Chancellor of Afe Babalola University (ABUAD), Ado-Ekiti, Chief Afe Babalola, by the Obafemi Awolowo Foundation. The prize, instituted after the late sage, is awarded to individuals that have demonstrated the attributes of Awolowo, which include political strategy, education, integrity, caring for welfare of the masses, consistency of policies and courage. The prize is awarded every two years. The programme will hold on March 6, 2019 at Harbour Point, Victoria Island, Lagos. The former Secretary General, Commonwealth of Nations and Chairman of the Selection Committee, Chief Emeka Anyaoku said in a statement that Babalola has distinguished himself in the provision of quality education just like the sage, advocacy for masses through legal intervention and other means. A former Vice-Chancellor of Obafemi Awolowo University, Ile-Ife, Professor Michael Faborode described Babalolaâ€™s contribution to the educational development of the country, particularly higher education as monumental and speaks volumes. â€œYou have thoroughly distinguished and endeared yourself to many who value education. Your landmark

ABUAD and the adjoining iconic teaching hospital, speak volumes of your painstaking dedication and commitment to excellence.â€? He recalled his convocation lecture which he delivered at Olabisi Onabanjo University (OOU), Ago-Iwoye and Adekunle Ajasin Univerity, Akungba (AAUA) in January and November, 2018 respectively, saying that â€œafter the establishment of three separate state universities in Ekiti and their merging into a single one, can be said to have been in existence since 1982 (listed as the sixth state university after OOU by the NUC), with a College of Medicine, Ekiti State University is yet to establish a teaching hospital for training her medical doctors. â€œAfe Babalola University (ABUAD) established nine years ago in 2009 now has a teaching hospital, which may well be the best equipped modern teaching hospital in Nigeria. The hospital is indeed a classical lesson in how partnerships and collaboration can be leveraged to source for funds and resources for a universityâ€™s advancement.â€? Faborode noted that ABUAD was able to access substantial funding from the African Development Bank (AfDB) to establish an industrial park as a special purpose vehicle for knowledge transfer and developmental relevance.

the school won $60,000 worth of scholarship in the Conrad Challenge, another set of students from Greensprings School, Lekki, Lagos recently won $2,000 in the 2018 edition of the School Enterprise Challenge. The School Enterprise Challenge is an initiative of â€˜Teach a Man to Fishâ€™ a UK charity organisation. Over 1,000 schools across the globe participated in the programme, aimed at helping students to learn valuable 21st century business skills they can use to support their schools and local communities. Greensprings School participated in the enterprise challenge and came up with a business called â€˜GREENY-G Mini Mart.â€™ The aim of the business is to provide toiletries, stationery and healthy snack foods for members of the school community. With its establishment, the students have learnt skills such as planning, finance, sustainability, teamwork, research, sales and marketing. They have also learnt how to keep financial books accurately. In a statement, the Principal of the school, Mrs. Feyisara Ojugo said â€œGREENY-G Mini Mart has provided our students with the opportunity of meeting their immediate communityâ€™s stationery and grocery needs. It has also ignited the spirit of enterprise among the students. â€œWe are hopeful that they will come up with other ventures

entrepreneurial skills.â€? At the end of the challenge, Greensprings students emerged the Africa Region- Best Bronze Winner, and $2,000 was awarded to them. In her reaction, the Director of Education, Greensprings School, Ms. Helen Brocklesby said: â€œWe are indeed proud of the efforts of our students at Greensprings, they have worked very hard to achieve success in this business, and we believe it will be profitable. â€œI am happy that our school got recognised and won an award. This is exciting for us as an institution.â€? Speaking on the importance of the School Enterprise Challenge, the CEO of Teach a Man to Fish, Nik Kafka said: â€œWe are on a mission to tackle youth unemployment and the â€˜learning crisis.â€™ The impact shown by these winners reminds us why it is so important to give young people the skills and experience to become the job creators of tomorrow.â€? Students who took part in the School Enterprise Challenge were actively involved at every stage of the school business activity. Over the course of the enterprise challenge, students wrote a business plan, conducted market research and prepared a business budget - and all these were put together, while also producing some of the items for sale.

T H I S D AY Ëž Í°ÍľËœ Í°ÍŽÍŻÍˇ

RISS Promises Improved Performance in New School Building Uchechukwu Nnaike

The Principal of Redeemer â€™s International Secondary School, Maryland, Lagos, Mrs. Feyisara Osinupebi, has assured parents that the school will continue to break new grounds and surpass its achievements as it moves to a new school building. Speaking during the dedication of the new school building by wife of the General Overseer of the Redeemed Christian Church of God, Pastor Mrs. Folu Adeboye, the principal said the school was established in 1996 to bring up young men and women with integrity, hard work, teachable spirits, as well as excellent Christians â€œthat will affect our community and larger society positively- to be Christians not only in words, but in deeds.â€? According to her, over the 22 years of existence,

its graduates are making a difference within and outside the shores of Nigeria. â€œWe have among many awards and firsts, won the National Science Olympiad and led the Nigerian team to Jakarta and Germany in 2005 and 2008, while winning the world bronze medal in 02005. â€œWe invented a Termicide from cashew shells named TRISS for the Schlumberger SEED competitionâ€Ś After presenting and defending our project, our first attempt was our winning attempt. Our prize apart from an upgrade of the ICT room, took our students to the headquarters of Schlumberger in France.â€? Osinupebi added that the school has been part of the Junior Achievement programme for over 20 years. â€œIn 2017, we won the company of the year award in Lagos and came third in Nigeria.

In 2015, we received the International School Award from the British Council and became full members of the Council of British International Schools (COBIS). â€œIn the same year, we received the award for the best result across eight subjects and best result in Geography, Biology and ICT in the Cambridge IGCSE examinations. In 2016, the school received the award for the best result in WASSCE and came second in West Africa.â€? While comparing the two buildings, she said: â€œWhere we were coming from was not purpose built, but we did the best that we could, but the new building is purpose built therefore the focus of the students is better; they feel happier because they are in a standard school building.â€? While dedicating the new building, Mrs. Ade-

boye thanked members of the board of governors for standing by the school over the years; the teachers for making good use of the old place and parents for supporting the school. According to her, with about 300 schools across the country, she said she has not fully achieved her aim of setting up schools, as she hopes to have more schools and â€œwe are trusting God that more than half of the children in this country will know Jesus and they will serve the country.â€? On how youths can stay safe this election period, she said: â€œChildren should not join in any form of violence because they are heritage of God and they are of the lord and God is not interested in any violence and as a result, they must behave themselves and only pray for the salvation of our country.â€?

KEHINDE OMORU www.kayomoru.com

CIRCUMSPECTION IS REQUIRED ËŤ Ă?Ă‹Ă?Ă’Ă?ĂœĂ? Ă™Ă? Ă‹Ă–Ă– Ă‹Ă‘Ă?Ă?Ëœ Ă“Ăž Ă‹Ă–Ă– Ă“Ă˜Ă Ă‹ĂœĂ“Ă‹ĂŒĂ–ĂŁ Ă?Ă‹Ă–Ă–Ă? ĂŒĂ‹Ă?Ă• Ă™Ă˜ ĂŁĂ™Ă&#x;Ë ËŹ ËŤ Ă’Ă‹Ăž ĂŽĂ™Ă?Ă?ËŁËŹ Ă™Ă&#x; Ă—Ă“Ă‘Ă’Ăž Ă‹Ă?Ă•Ë› ËŤ ĂžËŞĂ? Ă˜Ă?Ă Ă?Ăœ ĂžĂ™Ă™ Ă?Ă‹ĂœĂ–ĂŁ ĂžĂ™ Ă“Ă—ĂŒĂ&#x;Ă? ĂŁĂ™Ă&#x;Ăœ Ă–Ă?Ă?Ă?Ă™Ă˜Ă? ĂĄĂ“ĂžĂ’ Ă™ĂšĂšĂ™ĂœĂžĂ&#x;Ă˜Ă“ĂžĂ“Ă?Ă? ĂžĂ™ ĂžĂ?Ă‹Ă?Ă’ Ă™Ăœ ĂšĂ‹Ă?Ă? Ă‹Ă?ĂœĂ™Ă?Ă? ĂžĂ’Ă™Ă?Ă? Ă?Ă™ĂœĂ? Ă Ă‹Ă–Ă&#x;Ă?Ă? Ă‹Ă˜ĂŽ Ă?Ă•Ă“Ă–Ă–Ă? ĂžĂ’Ă‹Ăž ĂĄĂ™Ă&#x;Ă–ĂŽ Ă—Ă&#x;Ă?Ă’ Ă–Ă‹ĂžĂ?Ăœ Ă?Ă™ĂœĂ— Ă?Ă?Ă?Ă?Ă˜ĂžĂ“Ă‹Ă– ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă“Ă™Ă˜Ă‹Ă– ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ?ËŹË› ĂĄĂ“ĂžĂ˜Ă?Ă?Ă?Ă?ĂŽ Ă‹ ËŠĂ?Ă’Ă™ĂĄËŞ Ă™Ă? Ă“Ă˜Ă?Ă?Ă˜Ă?Ă“ĂžĂ“Ă Ă“ĂžĂŁ Ă‹ Ă?Ă?ĂĄ ĂŽĂ‹ĂŁĂ? Ă‹Ă‘Ă™Ëœ Ă“Ă˜ Ă™Ă˜Ă? Ă™Ă? Ă‹Ă‘Ă™Ă?ËŞĂ? Ă?ĂŁĂ?Ě‹ĂŒĂœĂ™ĂĄ Ă’Ă™Ă?ĂšĂ“ĂžĂ‹Ă–Ă?Ëœ ĂĄĂ’Ă“Ă–Ă?Ăž

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Ăž Ă?Ă‹Ă—Ă? ĂžĂ™ Ă‹ ĂšĂ™Ă“Ă˜Ăž ĂĄĂ’Ă?ĂœĂ? Ă?Ă™Ă&#x;Ă–ĂŽĂ˜ËŞĂž Ă’Ă?Ă–Ăš ĂŒĂ&#x;Ăž ĂĄĂ™Ă˜ĂŽĂ?Ăœ Ă“Ă? ĂžĂ’Ă?ĂœĂ? ĂĄĂ?ĂœĂ? Ă‹Ă˜ĂŁ Ă?Ă™Ă—ĂšĂ‹Ă?Ă?Ă“Ă™Ă˜Ă‹ĂžĂ? Ă‹Ă˜ĂŽ ĂžĂ‹Ă?ĂžĂ?Ă&#x;Ă– Ă—Ă?Ă—ĂŒĂ?ĂœĂ? Ă™Ă? Ă?ĂžĂ‹ĘĽ Ă–Ă?Ę° Ă“Ă˜ ĂžĂ’Ă“Ă? Ă’Ă™Ă?ĂšĂ“ĂžĂ‹Ă– ĂĄĂ’Ă?Ă˜ Ă“ĂžĂ? Ă—Ă™ĂœĂ˜Ă“Ă˜Ă‘ Ă?ĂžĂ‹ĘĽ Ă—Ă?Ă—ĂŒĂ?ĂœĂ?Ëœ ĂŒĂ‹Ă‘Ă? Ă“Ă˜ Ă’Ă‹Ă˜ĂŽËœ ĂŒĂ?Ă‘Ă‹Ă˜ ĂžĂ™ Ă˜Ă™Ă“Ă?Ă“Ă–ĂŁ Ă?Ă—ĂšĂžĂŁ Ă“Ă˜ĂžĂ™ ĂžĂ’Ă? ĂœĂ?Ă?Ă?ĂšĂžĂ“Ă™Ă˜ Ă‹ĂœĂ?Ă‹ Ă?ĂœĂ™Ă— Í˛Ë›ÍŻÍľĂšĂ— Ě™ĂžĂ’Ă?Ă“Ăœ Ă?Ă–Ă™Ă?Ă“Ă˜Ă‘ ĂžĂ“Ă—Ă? ĂĄĂ‹Ă? ÍłĂšĂ—ĚšË› Ă’Ă? Ă‹ĂšĂšĂ‹Ă–Ă–Ă“Ă˜Ă‘ Ă Ă“Ă?Ă?Ă? ĂĄĂ?ĂœĂ? ĂžĂ’Ă?Ă“Ăœ Ă“Ă˜ĂŽĂ“Ă Ă“ĂŽĂ&#x;Ă‹Ă– ĂœĂ‹Ă&#x;Ă?Ă™Ă&#x;Ă? Ă–Ă‹Ă&#x;Ă‘Ă’ĂžĂ?ĂœĂ?Ëœ Ă’Ă“Ă‘Ă’ ĂšĂ“ĂžĂ?Ă’Ă?ĂŽ Ă?Ă’ĂœĂ“Ă–Ă–ĂŁ Ă Ă™Ă“Ă?Ă?Ă? Ă‹Ă˜ĂŽ Ă–Ă™Ă&#x;ĂŽ ĂšĂœĂ™Ă˜Ă™Ă&#x;Ă˜Ă?Ă?Ă—Ă?Ă˜ĂžĂ? ĂžĂ™ ĂžĂ’Ă? Ă?ĘĽĂ?Ă?Ăž ĂžĂ’Ă‹Ăž ĂžĂ’Ă?ĂŁ ĂĄĂ?ĂœĂ? Ă˜Ă™Ăž ĂšĂœĂ?ĂšĂ‹ĂœĂ?ĂŽ ĂžĂ™ Ă™Ă Ă?ĂœĚ‹Ă?ĂžĂœĂ?ĂžĂ?Ă’ ĂžĂ’Ă?Ă—Ă?Ă?Ă–Ă Ă?Ă? Ă™Ăœ ĂœĂ“Ă?Ă• Ă—Ă“Ă?Ă?Ă“Ă˜Ă‘ ĂžĂ’Ă?Ă“Ăœ ĂžĂœĂ‹Ă˜Ă?ĂšĂ™ĂœĂžĂ?Ë› Ă?Ă™ĂšĂ–Ă? ĂĄĂ™Ă&#x;Ă–ĂŽĂ˜ËŞĂž ĂŒĂ?Ă’Ă‹Ă Ă? Ă?Ă™ Ă?Ă’Ă™ĂŽĂŽĂ“Ă–ĂŁ Ă‹ĂŒĂœĂ™Ă‹ĂŽËœ Ă?Ă™ ĂĄĂ’ĂŁ Ă?Ă‹Ă˜ËŞĂž ĂĄĂ? Ă?Ă&#x;ĂœĂŒ ĂžĂ’Ă?Ă?Ă? ĂžĂŁĂšĂ?Ă? Ă™Ă? Ă?Ă˘Ă?Ă?Ă?Ă?Ă?Ă? Ă‹Ăž Ă’Ă™Ă—Ă?ËŁ Ă? ĂžĂ’Ă?Ă?Ă? Ă?ĂžĂ‹ĘĽĂ?ËŞ Ă”Ă“ĂŒĂ?Ă? Ă–Ă‹Ă˜ĂŽĂ?ĂŽ Ă“Ă˜ Ă—ĂŁ Ă?Ă‹ĂœĂ?Ëœ Ă?Ă™Ă&#x;Ă–ĂŽĂ˜ËŞĂž Ă’Ă?Ă–Ăš ĂŒĂ&#x;Ăž ĂœĂ?Ă?Ă‹Ă–Ă– ĂžĂ’Ă? Ă—Ă‹Ă˜ĂŁ ĂžĂ“Ă—Ă?Ă?Ëœ ĂĄĂ? Ă’Ă‹ĂŽ ĂŒĂ?Ă?Ă˜ Ă?Ă‹Ă–Ă–Ă?ĂŽ Ă™ĘĽ Ă™Ă&#x;Ăœ ĂŒĂœĂ?Ă‹Ă•Ă? ĂžĂ™ Ă‘Ă™ Ă‹Ă˜ĂŽ Ă‹ĘľĂ?Ă˜ĂŽ ĂžĂ™ Ă?Ă—Ă?ĂœĂ‘Ă?Ă˜Ă?Ă“Ă?Ă?Ëœ Ă™Ăœ ĂœĂ?ĂžĂ&#x;ĂœĂ˜ Ă™Ă˜ĂžĂ™ ĂžĂ’Ă? ĘŽĂ™Ă™Ăœ ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ Ă˜Ă&#x;ĂœĂ?Ă? ĂĄĂ‹Ă? ĂŽĂ‹Ă?Ă’Ă“Ă˜Ă‘ Ă™ĘĽ ĂžĂ™ Ă?Ă‹Ă Ă? Ă‹ Ă–Ă“Ă?Ă?Ë Ă?Ă™Ă&#x;Ă–ĂŽĂ˜ËŞĂž Ă’Ă?Ă–Ăš ĂŒĂ&#x;Ăž ĂœĂ?Ă?Ă‹Ă–Ă– ĂžĂ’Ă? Ă—Ă‹Ă˜ĂŁ ĂžĂ“Ă—Ă?Ă? Ă‹ Ă?Ă?Ă“Ă¤Ă&#x;ĂœĂ? ĂĄĂ‹Ă? ĂšĂœĂ™Ă–Ă™Ă˜Ă‘Ă?ĂŽ Ă™Ăœ Ă‹Ă˜ Ă“Ă˜Ă”Ă&#x;ĂœĂŁ Ă’Ă‹ĂŽ Ă™Ă?Ă?Ă&#x;ĂœĂœĂ?ĂŽ Ă‹ Ă?Ă?ĂĄ Ă—Ă“Ă˜Ă&#x;ĂžĂ?Ă? ĂžĂ™ Ă?Ă–Ă™Ă?Ă“Ă˜Ă‘ ĂžĂ“Ă—Ă? Ă‹Ă˜ĂŽ ĂĄĂ? Ă’Ă‹ĂŽ ĂžĂ™ ĂœĂ?Ă—Ă‹Ă“Ă˜ Ă™Ă˜ Ă?Ă’Ă“Ę° Ă&#x;Ă˜ĂžĂ“Ă– ĂžĂ’Ă? Ă?Ă?ĂœĂ Ă“Ă?Ă?Ě‹Ă&#x;Ă?Ă?Ăœ ĂĄĂ‹Ă? ĂœĂ?Ă?Ă™Ă Ă?ĂœĂ?ĂŽ Ă™Ăœ Ă?ĂžĂ‹ĂŒĂ“Ă–Ă“Ă¤Ă?ĂŽ ĂŒĂŁ ĂžĂ’Ă? Ă‹Ă—ĂŒĂ&#x;Ă–Ă‹Ă˜Ă?Ă? Ă?Ă?ĂœĂ Ă“Ă?Ă? Ă‹Ă˜ĂŽ Ă‹Ă–Ă– ĂšĂ™Ă?Ăž ĂœĂ?Ă?Ă™Ă Ă?ĂœĂŁ ĂšĂœĂ™ĂžĂ™Ă?Ă™Ă–Ă? ĂĄĂ?ĂœĂ? ĂŽĂ&#x;Ă–ĂŁ Ă?Ă™Ă—ĂšĂ–Ă?ĂžĂ?ĂŽ Ă‹Ă˜ĂŽ Ă’Ă‹Ă˜ĂŽĂ?ĂŽ Ă™Ă Ă?ĂœË› Ă‹Ă? ĂĄĂ?Ă–Ă– Ă‹Ă? Ă—ĂŁ Ă?Ă™Ă–Ă–Ă?Ă‹Ă‘Ă&#x;Ă?Ă? ĂœĂ?Ă?ĂšĂ™Ă˜ĂŽ ĂœĂ?Ă‹ĂŽĂ“Ă–ĂŁ Ă‹Ă˜ĂŽ ĂšĂ™Ă?Ă“ĂžĂ“Ă Ă?Ă–ĂŁ ĂĄĂ“ĂžĂ’ ĂšĂ‹ĂžĂ“Ă?Ă˜ĂžĚ‹Ă?Ă‹ĂœĂ? ĂŒĂ?Ă“Ă˜Ă‘ ĂžĂ™ĂšĂ—Ă™Ă?Ăž Ă“Ă˜ Ă™Ă&#x;Ăœ Ă’Ă?Ă‹ĂœĂžĂ?Ë› Ă?Ă?Ă’Ă™Ă™Ă–Ă? Ă™Ă? Ă˜Ă&#x;ĂœĂ?Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă?ĂžĂ&#x;ĂŽĂ“Ă?Ă? Ă“Ă˜ Ă’Ă?Ă‹Ă–ĂžĂ’ Ă‹Ă˜ĂŽ Ă?Ă™Ă?Ă“Ă‹Ă– Ă?Ă‹ĂœĂ? Ă?Ă˜Ă?Ă&#x;ĂœĂ? ĂžĂ’Ă‹Ăž Ă?Ă™ĂœĂ? Ă˜Ă™Ă˜Ě‹ĂšĂœĂ‹Ă?ĂžĂ“Ă?Ă‹Ă– ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă“Ă™Ă˜Ă‹Ă– ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ? Ă‹ĂœĂ? Ă‹Ă?Ă›Ă&#x;Ă“ĂœĂ?ĂŽ Ă‹Ă˜ĂŽ ĂŽĂ?Ă—Ă™Ă˜Ă?ĂžĂœĂ‹ĂžĂ?ĂŽ Ă‹Ăž ĂšĂœĂ?Ě‹ĂœĂ?Ă‘Ă“Ă?ĂžĂœĂ‹ĂžĂ“Ă™Ă˜ Ă–Ă?Ă Ă?Ă– Ă™Ăœ ĂŽĂ&#x;ĂœĂ“Ă˜Ă‘ Ă?ĂžĂ&#x;ĂŽĂ“Ă?Ă?Ë› Ă?Ă‹Ă?Ă’Ă?ĂœĂ?Ëœ Ă–Ă?ĂžËŞĂ? Ă‘Ă™ ĂŒĂ‹Ă?Ă• ĂžĂ™ ĂžĂ’Ă? ĂŒĂ‹Ă?Ă“Ă?Ă? Ě‹ ĂžĂ™ ĂžĂ?Ă‹Ă?Ă’Ë? ĂžĂ?Ă—ĂšĂ?ĂœĂ‹Ă˜Ă?Ă?Ëœ Ă?Ă™Ă˜Ę¨ĂŽĂ?Ă˜ĂžĂ“Ă‹Ă–Ă“ĂžĂŁËœ Ă?Ă—ĂšĂ‹ĂžĂ’ĂŁËœ ĂŽĂ“Ă?Ă?ĂœĂ?ĂžĂ“Ă™Ă˜Ëœ ĂœĂ?Ă?ĂšĂ?Ă?Ăž Ă‹Ă˜ĂŽ ĂœĂ?Ă?Ă“ĂšĂœĂ™Ă?Ă‹ĂžĂ?ĂŽ ĂœĂ?Ă?ĂšĂ?Ă?ĂžËœ Ă?Ă?Ă–Ă?Ě‹Ă?Ă™Ă˜ĂžĂœĂ™Ă–Ëœ Ă?Ă™Ă&#x;ĂœĂžĂ?Ă?ĂŁËœ Ă?Ă‹Ă–Ă—Ă˜Ă?Ă?Ă?Ëœ ĂŽĂ?ĂŽĂ“Ă?Ă‹ĂžĂ“Ă™Ă˜Ëœ ĂœĂ? ĂŁĂ™Ă&#x; ĂšĂ–Ă‹ĂŁĂ“Ă˜Ă‘ Ă™Ă&#x;Ăž ĂŁĂ™Ă&#x;Ăœ ĂœĂ™Ă–Ă? Ă‹Ă? ĂžĂ&#x;Ě‹ ĂžĂ™ĂœËœ ĂžĂœĂ‹Ă“Ă˜Ă?ĂœËœ Ă—Ă?Ă˜ĂžĂ™ĂœËœ Ă“Ă˜Ă?ĂžĂœĂ&#x;Ă?ĂžĂ™Ăœ Ă‹Ă˜ĂŽ Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ™Ăœ ĂĄĂ“ĂžĂ’Ă“Ă˜ Ă‹Ă˜ĂŽ Ă™Ă&#x;ĂžĂ?Ă“ĂŽĂ? ĂžĂ’Ă? Ă?Ă–Ă‹Ă?Ă?ĂœĂ™Ă™Ă—ËŁ Ă–Ă?Ă‹Ă?Ă? Ă?Ă’Ă?Ă?Ă• Ă™Ă&#x;Ăž ĂžĂ’Ă? Ă–Ă“Ă?Ăž ĂŒĂ?Ă–Ă™ĂĄË› Ă˜Ă?Ă&#x;ĂœĂšĂœĂ“Ă?Ă“Ă˜Ă‘Ă–ĂŁËœ Ă?Ă™ĂœĂ? ĂœĂ?Ă?Ă?ĂšĂžĂ“Ă™Ă˜Ě‹Ă‹ĂœĂ?Ă‹ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ? Ă‹ĂœĂ? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ? Ă?Ă Ă?ĂœĂŁ Ă‘Ă™Ă™ĂŽ ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ Ă?Ă‹Ă˜ Ă“Ă˜Ă?Ă&#x;Ă–Ă?Ă‹ĂžĂ? Ă“Ă˜ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ? Ă?ĂœĂ™Ă— ĂšĂœĂ?Ě‹Ă?Ă?Ă’Ă™Ă™Ă– ĂŁĂ?Ă‹ĂœĂ? ĂžĂ™ ĂžĂ?ĂœĂžĂ“Ă‹ĂœĂŁ Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜Ë› Ă’Ă?Ă?Ă? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ? Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ?Ë? Ă?Ă™Ă&#x;ĂœĂžĂ?Ă?ĂŁËœ Ă‘ĂœĂ?Ă‹Ăž Ă–Ă“Ă?ĂžĂ?Ă˜Ă“Ă˜Ă‘ Ă?Ă•Ă“Ă–Ă–Ă?Ëœ Ă?Ă‹Ă–Ă—Ă˜Ă?Ă?Ă?Ëœ Ă?ĂœĂ“Ă?Ă˜ĂŽĂ–Ă“Ă˜Ă?Ă?Ă?Ëœ Ă‘ĂœĂ?Ă‹Ăž Ă›Ă&#x;Ă?Ă?ĂžĂ“Ă™Ă˜Ă“Ă˜Ă‘ Ă?Ă•Ă“Ă–Ă–Ă?Ëœ ĂŒĂ?Ă“Ă˜Ă‘ ĂšĂœĂ™Ă‹Ă?ĂžĂ“Ă Ă?Ëœ Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă‘ĂœĂ?Ă‹Ăž Ę¨ĂœĂ?Ăž Ă“Ă—ĂšĂœĂ?Ă?Ă?Ă“Ă™Ă˜Ă?Ëœ ĂŒĂ?Ă“Ă˜Ă‘ Ă‹ĂšĂšĂœĂ™Ă‹Ă?Ă’Ă‹ĂŒĂ–Ă?Ëœ ĂžĂ‹Ă?ĂžĂ?Ă&#x;Ă–Ă˜Ă?Ă?Ă?Ëœ Ă‹Ă˜ĂŽ Ă?Ă?Ă–Ă?Ě‹Ă‹ĂĄĂ‹ĂœĂ?Ă˜Ă?Ă?Ă? Ă™Ă? Ă™Ă˜Ă?ËŞĂ? ĂŒĂ™ĂŽĂŁ Ă–Ă‹Ă˜Ă‘Ă&#x;Ă‹Ă‘Ă?Ëœ ĂŽĂ“Ă?Ă?Ă&#x;Ă?Ă?Ă“Ă˜Ă‘ Ă‹Ă˜Ă‘Ă?ĂœËœ Ă&#x;Ă?Ă“Ă˜Ă‘ ĂžĂ’Ă? Ă Ă™Ă“Ă?Ă? Ă?ĘĽĂ?Ă?ĂžĂ“Ă Ă?Ă–ĂŁËœ Ă‹Ă?Ă?Ă?ĂœĂžĂ“Ă Ă?Ă˜Ă?Ă?Ă? Ă‹Ă˜ĂŽ ĂšĂœĂ™ĂšĂ?ĂœĂ–ĂŁ ĂšĂœĂ™Ă”Ă?Ă?ĂžĂ“Ă˜Ă‘ Ă‹ ĂšĂ™Ă?Ă“ĂžĂ“Ă Ă? Ă“Ă—Ă‹Ă‘Ă? Ă™Ă? ĂžĂ’Ă? Ă?Ă—ĂšĂ–Ă™ĂŁĂ?ĂœË›

Mrs Kehinde Omoru writes from the UK

L-R: A representative of the Regional Pastor, Region 20, The Redeemed Christian Church of God (RCCG), Pastor Africams Sam-Epella; a member, Board of Directors, Redeemerâ€™s International Secondary School (RISS), Mrs Nkiru Green; the Principal, RISS, Mrs. Feyisara Osinupebi;CASM, Coordinator for Schools, Region 20 RCCG, Pastor Funmito Agusto; Wife of the General Overseer of RCCG, Pastor (Mrs) Folu Adeboye; and Chairman, Board of Directors,RISS, Pastor Ben Akabueze, at the dedication of RISS Eden Place in Lagos... recently PHOTO: ETOP UKUTT

Rotary Club President Tasks Students on Employability Skills The President of Rotary Club of Isolo, Adebayo Dauda has stressed the need for students to expose themselves to knowledge that would help them become self-reliant when they graduate. Dauda, who made this known recently during a career talk seminar titled â€˜Come Letâ€™s Talk about Your Futureâ€™, organised by the club for secondary school students in Isolo Community, Lagos said it is the recipe to solving the unemployment problem in the country. He urged the students to put all the knowledge they acquired during the seminar to practice so that they can become employers of labour rather than

seekers of jobs that are not there. He said the club organises the programme every rotary year as its contribution towards the reduction of unemployment problem in the country. The guest speaker, Dr. Rosemary Ogedengbe, who spoke on the importance of higher education and getting set for entrepreneurship, urged the students to take their studies serious so that they can make good results in their Senior School Certificate Examination (SSCE) to enable them qualify for admission into higher institution for further education. She said higher education provides them with

more freedom in pursuing a career that inspires and interests them and that it will also help them enjoy their career more and other things like employment benefits, higher income typically leading to higher job satisfaction. Emphasising on getting set for entrepreneurship, Ogedengbe described entrepreneurship as the process of designing, launching and running a new business which is often initially a small business, adding that those who create them are entrepreneurs. She advised them to take a stand and identify the right business they can do. The Tutor General, Mrs. Olufumilayo Onadipe, who

was represented by the Director of CurricularScience and Technology, Mrs. Modupe Adigun, commended the club for organising such an important and useful programme for the students. She said it would have a positive impact on their future and help them to become focused with a sense of direction. While commending the club for the initiative, one of the participating students, Miss Keturah Kure, from Binta International School, Ajao Estate, who responded on behalf of her colleagues, said what she learnt at the seminar will help her get set for higher education and become an entrepreneur in future.

Bauchi Students Hail Buhari for Reinstating Bogoro at TETFund Segun Awofadeji in Bauchi The National Union of Bauchi State Students (NUBASS) has applauded President Muhammadu Buhari for reinstating Professor Suleiman Bogoro as the Executive Secretary of the Tertiary Education Trust Fund (TETFund), saying that the reappointment has exonerated Bogoro from the allegations that led to his sack in 2016. Speaking with journalists during a rally in Bauchi in solidarity with the TETFund boss, who hails from the state, the NUBASS National President, Ibrahim Abdullahi said with Bogoro at the helm of affairs in TETFund, more intervention programmes will be implemented to improve Nigerian tertiary institutions. According to him, from 2014 to 2016 when Bogoro headed the organisation, over 10,000 academic staff from various higher institutions across the country were sponsored to undergo masterâ€™s and PhDs programnes; schools laboratories were equipped and

structures were built in the 71 federal and states universities, 51 federal and state polytechnics and 61 federal and state colleges of education across the country. â€œWe are optimistic that his coming back to TETFund as executive secretary is a blessing not only to the education sector, but the country in general. It is worthy of mention the role played by some stakeholders to ensure that justice is done to our very erudite Professor Suleiman Bogoro and his subsequent reinstatement particularly President Buhari, the governor of Bauchi State, Education Minister, Mallam Adamu Adamu. We therefore remain joyful and grateful. â€œOn behalf of over three million indigenous Bauchi State students within Nigeria and around the globe, we solicit the support and cooperation of all stakeholders in the country for Bogoro as captain of the TETFund to be able to succeed and take our tertiary institutions out of the woods,â€? Abdullahi said.

T H I S D AY Ëž Í°ÍľËœ Í°ÍŽÍŻÍˇ

ABSU Graduates 4,117, Scales up Research Activities Emmanuel Ugwu in Umuahia The Vice-Chancellor of Abia State University, Uturu (ABSU), Professor Eleazar Ikonne said the institution has consistently maintained its reputation of intellectual harvest over the past 38 years of its establishment. He stated this at the 26th convocation ceremony of the institution, where 4,117 graduands were given the universityâ€™s â€œcrown of gloryâ€? in various disciplines at the first degree and higher degree levels. Out of the 3,767 that received first degree certificates, 18 made first class, while 511 graduated in second class upper division; 2,532 in second class lower, 365 third class and seven in pass

level. Medicine and surgery turned out 203 graduates, Optometry 131, while 350 received higher degree certificates. â€œWe have equipped you with relevant knowledge, skills, adequate moral conduct and service-orientation that you need for the competitive global economy,â€? the VC told the graduands, adding that they would live up to expectation having emerged from sound academic base. He said the infrastructural development of ABSU has received a boost following intervention from the Tertiary Education Trust Fund (TETFund), adding that allocations from the fund was used in the construction of new building complexes for Faculties of

Engineering and Optometry. Ikonne added that TETFundâ€™s allocations were used to refurbish and upgrade laboratories for microbiology, biochemistry and physics with state-of-the-art structures and modern equipment. He also listed the engineering department among the beneficiaries of TETFund interventions as it received computerised modern equipment while the e-library has

been electronically equipped and is functional. In the area of research, the don said ABSU has witnessed exponential rise in research activities from the inception of his administration, adding that 38 research topics in various disciplines have been selected for TETFund sponsorship. According to him, one of the research topics submitted by the universityâ€™s research team won the highly competi-

tive National Research Fund allocation to the tune of N37 million, adding that the feat was made possible by the Director of Research, Prof V.O Nwaugo and his team. The VC regretted the incessant disruption of academic activities at the national level through strikes by staff unions, saying that such strikes constitute â€œthe worst culprit in the perceived lowering of standard of education in the

country.â€? He therefore called on â€œgovernment and union leaders, as academics to work out a self-regulatory mechanism that will periodically address staff demands without disrupting academic activities. â€œHurried agreements between unions and the federal government that are not sustainable are precursors to further strikes in the nearest future.â€?

NMU VC Lauds FGâ€™s Support, Calls for More Ogechukwu Obi The Vice-Chancellor of the Nigeria Maritime University (NMU), Okerenkoko, Delta State, Professor Maureen Etebu has lauded the support of the federal government in the establishment of the institution, even as she called for more support to ensure the successful running of the first maritime university in the country. Etebu, who stated this while briefing journalists recently, said the support of the federal government has helped in no small way to ensure the smooth take-off of the institution. The VC, who was a member of the State Executive Council during the administration Chief Diepreye Alamieyeseigha, argued that without the support and co-operation of the federal government, the running of the institution would have met a brick wall. She also thanked VicePresident Yemi Osinbajo for the special interest he has taken in the establishment of the university, particularly the steps he took when he was the acting President while President Muhammadu Buhari was on vacation about two years ago. â€œWe cannot thank the federal government enough for what it has done in ensuring the smooth take-off of the university. It did not only approve the take-off grant, but it also ensured the release of the money. Otherwise, there is no way we would have started at the time we did. â€œThere is no doubt that without the support of the federal government, the establishment of this university would have been a mirage. However, I want to say that like Oliver Twist, we need more support from the federal government so that we can take care of many pending projects we are yet to execute because of the paucity of funds. That is our appeal and prayers. You know that every pioneering project requires a lot of support and co-operation. That is why the school is making this passionate appeal.â€? The vice-chancellor also commended the Nigeria Maritime Administration and Safety Agency (NIMASA) for what it is doing to ensure that the

institution stands on its feet. She revealed that the management of NIMASA, which has Dr. Dakuku Peterside as its Director General, has not relented in its support for the university since its establishment. Etebu also commended the Delta State government for what it has done for the university since it started in the coastal community which plays host to some of the tributaries of River Niger. According to her, the Governor Ifeanyi Okowa administration has not turned its back to the needs of the institution since it started. â€œThe state government makes us feel at home and that is encouraging. For instance, it gave us two 500 KVA generators. Before these generators were donated to us by the state government, we depended on the community for electric power supply. NMU kicked off in the 2017/2018 academic session with the â€œnotification of approval to commence undergraduate degree programmesâ€? by the National Universities Commission (NUC). The letter signed by the Director of Academic Planning, Dr. Gidado Bello Kumo on behalf of the Executive Secretary, Professor Abubakar Rasheed read: The commission has considered and approved the commencement of academic activities with the following undergraduate degree programmes effective from the 2017/2018 academic session.â€? The courses approved for the university include Nautical Science, Transport Logistics Management, Port Management, Marine Economics and Finance, among others. These approved courses and programmes were spread across three faculties: Transport, Engineering and Environmental Management. The university, which has about 648 students studying various courses as at January 2019 is currently in its 2019/2020 academic session with the belief in certain quarters that the student population would swell in the years ahead as parents would prefer to send their children to a tertiary institution where academic activities run uninterrupted.

Some students of Greensprings School, Lagos with members of the school management at the GREENY-G Mini Mart stand at the Lekki Campus, which won them $2,000 in the 2018 edition of the School Enterprise Challengeâ€Ś recently

Foundation Awards Scholarship to 400 Kogi Indigent Students Yekini Jimoh in Lokoja About 400 students have benefited from the Deacon Job and Mrs. Omada Onoja Foundation N20 million scholarship fund. The beneficiaries were drawn from Emojikwu/ Emagodo, Emochogwu-Ameh, Emagodo and Emorocho Communities in Olamaboro Local Government Area of Kogi State. The scholarship covers their tuition fees into Kaduna Polytechnic; Federal University of Agriculture, Makurdi; KSU, Anyigba; KSCOE, Ankpa; College of Nursing, Obangede; Federal Polytechnic, Idah; University of Nigeria, Nsukka; Osun State College of Education; and Federal University, Lokoja, among others. Addressing journalists during the disbursement of the funds in Ofante Ogugu of Olamaboro Local Government Area, the Chairman, Scholarship Implementation Committee, Dr. Dan Itodo said the Chairman of the foundation and financier of the scholarship scheme, Chief Ogwu James Onoja wants nothing in return, but for the beneficiaries to be committed to their studies and be a source of pride to the community just like him. â€œToday, love has so many definitions with varying

degrees of interpretations but in all, true love is measured by sacrifice, the unconditionality attached makes the difference. The sacrifice that you give is not because you expect anything in return from the beneficiary of your love. â€œItâ€™s in the light of the above truth that Chief Ogwu James Onoja, SAN, Chairman of the Deacon Job and Mrs. Omada Onoja Foundation instituted the N20 million education fund in honour and remembrance of his parentsâ€™ genuine love to support the needy in the area of education.â€? He said the take-off of the humanitarian project was designed to start from the chairmanâ€™s immediate community and later to others as the saying goes, â€˜charity begins at homeâ€™. As a way of realising this, he said an independent committee of reputable elders and community leaders was inaugurated in December, 2018 to agree on the process of selection and present a list that will capture beneficiaries from every nook and cranny of Ofante, Ogugu of Olamaboro Local Government Area of the state. â€œThe committee has already completed their assignment and the following students were successful and qualified to receive N50,000 annually for the duration of their academic programmes.â€?

Business Club Ikeja to Train Managers The Business Club Ikeja is set to train business managers and organisations interested in improving their performance and productivity. Speaking at its first business luncheon of the year, the President of the club, Mr. Leke Odude, who is the Managing Director of Lektol Insurance, expressed delight at the introduction of its series of Executive Master Class programmes aimed at helping its members and invited companies and staff gain the required knowledge and skills to improve their productivity and realise their missions as businesses and professionals. According to him, â€œthe move is in line with our vision of fostering the building of professionals and professional business practices.â€? In his remarks, the Deputy Managing Director of Afkar Printing and chairperson of the Programmes Committee of the club, Dr. Adesola Falaiye, said the training programmes are part of series of activities the club will be promoting this year to help people and businesses in Nigeria. â€œThese executive master classes are to be delivered in partnership with the Centre for International Advanced and Professional Studies (CIAPS), the international business school based in Lagos. The CIAPS Centre Director, Professor Anthony Kila

confirmed that this year, there will be six classes which will run every 60 days. â€œEach of these classes has been designed bearing in mind the need and with the input of businesses and managers of various companies and sectors. Our aim is to make these classes a place to meet like minds, rub minds and find solutions to the problems that emerge from our constantly changing and challenging environment.â€? He said participants at the executive classes will leave each course with a clear understanding of how to better manage people, time and other resources that will help productivity and efficiency in their businesses. Topics and sessions this year will include classes on â€˜Strategic Planning for Competitive Advantageâ€™ on February 27; â€˜ Productive Mentoring for Managersâ€™ on April 24; â€˜Emotional Intelligence for Staff and Client Managementâ€™ on June 26; â€˜Effective Communication for Businessâ€™ on August 28; â€˜Corporate Governance, Risk Management and Complianceâ€™ on October 30; as well as â€˜Business Survival Strategies in Stringent Economiesâ€™ on November 27. The BCI executive master classes are open to members of the club, who will get a discount and to other businesses and professionals that might be interested.

T H I S D AY Ëž Í°ÍľËœ 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–

Support for Humanitarian Partnerships Sunday Ehigiator reports on the move by The Made Man Foundation in Nigeria to support humanitarian works of peculiar non-governmental organisations, who are tailored to better the life of the boy-child, without taking dignity away from the girl child

L-R: CEO, TJS Oil and Gas Ltd, Dr. Emmanuel Paddy Iyamu; CEO, The Made Man Foundation, Dr. Ky Dele, and MD/CEO Aliensmedia Communications, Segun Awosanya, at the event

ith a mission to uplift and engage accountable male leadership in community service programming for the underserved, and create a sustainable socio-economic and racially equitable society for man, woman and child; The Made Man (TMM) Foundation was borne. Thoroughly dedicated to uplifting entire communities through an involved and evolved man, who reflects a commitment to empower and invest in communities, TMM is a multi-channel organisation that highlights and connects positive male change agents as role models and leaders, by harnessing the power of mentorship and responsibility. The organisation features leaders who are invested in elevating the image of men by encouraging accountability to address issues that impact societal stability, in the home, professionally, and personally, to include fellow men, women, and youth. Following its declaration announcement on January 25, 2019, at a conference in Benin-City, Nigeria, as hosted by Prince Harrison Ehimiyen Foundation, TMM recently met with a host of other non-governmental organisations (NGOs) for the first time, in a bid to support what they are doing to better the life of the boy-child, without taking dignity away from the girl child. The event which was well attended by various NGOs in Nigeria, including representatives from Prince Ehimiyen Foundation, was described as an interface between TMM and Nigerians on how TMM can better appreciate the

vision of NGOs that are really close to the grassroots. In an interview with THISDAY, Psychologist and Founder of TMM, Dr. Ky Dele said: â€œThis idea started from my personal journey. Being with a single mother and not having my father around. And seeing how it affected my sister and my brother; my brother who ended up in prison, even though my mother was amazing. â€œI saw so much while growing up. And been a psychologist, I had an understanding that a lot of challenges

We are looking forward to formalise partnerships with nothing less than 25 partners from community based organisations that are in line with what we are trying to do, and empower them to continue doing what they are doing

in the home are left to the men. But I am not here to point fingers but to do the opposite. â€œThough I see a problem, there is a strength that we are not looking at and that is, that there are great men out there. So instead of me continuing to talk to this young ones about improving, let me go out there and get the great leaders that have figured something out, bring them back into the community, so they can help me be role model to these young boys, so they can see that; you really can come out of these communities and be okay. â€œI canâ€™t keep saying it, they need to see it on their own. So we went to these men and said; you figured it out, can you bring back your blueprint, help these young men, help us raise them, so that we wonâ€™t have mothers without their fathers around, or have young ladies been raped and molested. â€œThey are not going to solve everything, but I feel when young men sees something different in someone else that looks like them, they can improve on their character. And by simply saying thank you to men for not leaving your wives, thank you for raising your kids, and so on, it goes a long way to help shape the society better. So we should focus on what men are doing, not what they arenâ€™t doing, because you can only build from strength, not weakness. â€œThe Made Man is an involved and evolved man. He involved in his community, home, accountable, and transformational. And he is evolved by understanding the consciousness of knowing that it is not just all about him.

â€œHe has to be responsible, he has to understand that he cannot do anything without the entire community, and he steps back and lead at the same time. So TMM is not necessarily a wealthy man that has all the money to throw around. He is a man that understands the principle of humility, community development and how to extend a helping handâ€?. Speaking on the purpose of TMM in Nigeria, she said, â€œThe purpose of this event is to start a discussion, knowing that we are not going to come into Nigeria without talking to Nigerians first. First, we say thank you for having us, and secondly we needed to know what exactly we should be doing and where should we start. â€œI donâ€™t want to come like an American into Lagos and say; hey! I am a doctor; I am here to fix your home. That will be disrespectful, but rather, we are here to work together, and we need you to tell us what you need, and we need you to be in front of the conversation. Lead us to help you. â€œSo we are doing a collaboration not to tell anyone what to do, but to aid them in doing what they are doing. We are in partnership with the United Nations, and their embassy, and they have asked us to come here. But we would be formalising partnerships moving henceforth, now that we understand some ground work of what to do. â€œWe are looking forward to formalise partnerships with nothing less than 25 partners from community based organisations that are in line with what we are trying to do, and empower them to continue doing what they are doing.â€?

T H I S D AY Ë¾ Í°ÍµËœ Í°Í®Í¯Í·

CRIME&SECURITY

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CITIZENS' COMPLAINT LINES FOR SARS r%*( %FQBSUNFOU PG 0QFSBUJPOT

Zubairu

Delta CP Vows to Apprehend Killers of Okowa's Aide Sylvester Idowu in Warri

CRIME SITUATION REPORTS

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T H I S D AY Ëž Í°ÍľËœ 2019

BUSINESS/MONEYGUIDE

CBN Sustains FX Market Intervention with $210m Nume Ekeghe The Central Bank of Nigeria (CBN) yesterday injected the sum of $210 million into the interbank foreign exchange (FX) market. Figures obtained from the CBN indicated that authorised dealers in the wholesale segment of the market were offered the sum of $100 million, while the small and medium scale enter-

prises (SMEs) segment received the sum of $55 million. Similarly, customers requiring FX for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million. Confirming the figures, the Bankâ€™s Director, Corporate Communications Department, Mr. Isaac Okorafor, in a statement, reiterated the CBNâ€™s

commitment to continue to boost interbank FX market to ensure liquidity in the market. The CBN had last Friday injected the sum of $268.4 million and CNY46.3 million into the retail secondary market intervention sales (SMIS) segment. Meanwhile, the naira yesterday exchanged at an average of N360/$1 in the Bureau De Change segment of the market.

NAQS Opposes NAFDACâ€™s Ban on Methyl Bromide James Emejo Ă“Ă˜ ĂŒĂ&#x;Ă”Ă‹ The Nigeria Agricultural Quarantine Service (NAQS) is currently in loggerheads with the National Agency for Food and Drug Administration and Control (NAFDAC) over the latterâ€™s recent ban on the use of methyl bromide as a fumigant for pest control in crops. The Director General of the quarantine agency, Dr. Vincent Isegbe, also maintained that only NAQS had the sole mandate to â€œmake a public pronouncement on the use of Methyl bromide for phytosanitary treatment of agro-produce in Nigeria.â€? In a statement, he said that the use of Methyl bromide was allowed for controlled quarantine use due to lack of suitable alternatives, especially where specific request for its use is made. He said: â€œFor example, Mexico

as a nation specifically requests the use of Methyl bromide in the treatment of Hibiscus shipments to their country â€“ a trade that yielded over $35 million for Nigeria within nine months in 2017 alone.â€? He said: â€œFurthermore, under the International Standard for Phytosanitary Measures (ISPM) 15, the use of Methyl bromide for the treatment of solid wood packaging materials in international trade is allowed. â€œAll agro-chemicals are potentially harmful if not used safely. The major concern regarding the use of Methyl bromide is its effect on climate change, specifically on the depletion of Ozone layer. Nonetheless, the Montreal Protocol provides exemption for individual countries on its usage based on special quota system.â€? Asegbe, however, assured farmers of agricultural com-

modities, exporters, designated warehouse managers, the EU and the public that NAQS will not permit the use of Methyl bromide indiscriminately. He added: â€œThe public may wish to note that NAFDAC regulates chemicals generally but their specific use in phytosanitary treatment is the statutory responsibility of NAQS as the National Plant Protection Organization (NPPO) for Nigeria under the International Plant Protection Convention (IPPC) guidelines.â€? Meanwhile, NAFDAC had made a public pronouncement phasing out agro-chemical Methly bromide. Director General, NAFDAC, Prof. Mojisola Adeyeye, had in a statement warned the public, farmers, exporters of agricultural produce and agro-input dealers to desist from using methyl bromide as a pesticide.

Study Highlights Social Media Trends on Purchasing Power Today more than ever people are living an increasingly digital and mobile life and they expect their ability to pay for their needs, according to social media conversations identified in the 2019 edition of the Mastercard Digital Payments Study. According to the report, mobile payments represented more than 30 percent of the total social media conversation around payments in the Middle East and Africa, with total mentions doubling over the prior year. Now in its sixth year, the study, developed in partnership with PRIME Research, analysed more than 3.3 million conversations globally and 90,000 conversations in the Middle East and Africa from the past year across social

media channels including Twitter, Facebook, Instagram and Weibo. â€œPeople are looking to newer technologies to have an impact on their lives. In the past year alone, such mentions on social media increased 30 percent globally since the last study. Today, nearly 20 per cent of all mobile commerce payments are focused on contactless payments and mobile wallets. The report noted that beyond these primary focus areas, consumers are interested in how artificial intelligence, QR payments and wearable payments will impact their lives. Overall, people are increasingly positive toward these newer technologies, it added. In the Middle East and Africa, virtually all (95 percent)

mobile wallet conversations were favorable, with 22 percent of posts praising the speed, efficiency and simplicity of these products. â€œIn the fast-evolving world of digital payments, it is crucial that we listen and understand the views of the people who ultimately use our solutions. The Mastercard Digital Payments Study highlights a willingness to adopt the latest payment technology solutions from users across the Middle East and Africa, and reinforces the increasingly important role that mobile payments play in everyday life,â€? senior vice president of Product Management, Digital Payments & Labs for the Middle East and Africa at Mastercard,â€? Gaurang Shah said.

Shoprite Cautious on Improving Outlook after Worst First Half Shoprite Holdings has said its outlook could improve after its worst first-half performance in more than a decade, hit by supply problems in South Africa and a currency devaluation in Angola. â€œSince January 2019, an improved sales trend is evident,â€? the group said in a statement on Tuesday, adding though that its weak trading in July-December last year meant it was unlikely to achieve growth for the full year ending in June 2019. The supermarket and furniture retailer also said it aimed to simplify its share structure and was in talks with Thibault Square Financial Services Proprietary

Limited to buy, redeem or cancel deferred shares held by Thibault, which owns 32.3 percent of voting rights. South African retailers have struggled to lift earnings at home as high unemployment and household debt have squeezed consumer income. Shoprite had fared better than many thanks to its focus on budget-conscious consumers, but it was hit in July-December by deflation in basic food categories and supply constraints stemming from strikes last May and June at its largest distribution centre in South Africa and a new IT system. The company also faced rising costs across markets although

investors took the view that the worst may be over and Shoprite shares, which have lost more than 10 percent since the start of this year, were up 5 percent by 1045 GMT. According to Reuters total group sales across Shopriteâ€™s more than 2,800 outlets in Africa rose just 0.2 percent in July-December to 75.8 billion rand ($5.5 billion), while like-for-like sales declined by 2.7 percent from a year earlier. More than half of the groupâ€™s business went live on an IT system, which covers inventories, orders and store operations, in the six months and that adversely affected product availability for customers, Shoprite said.

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 MONDAY,25 JANUARY 2019

The price of OPEC basket of fourteen crudes stood at $65.36 a barrel on Monday, compared with $66.56 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY Ëž Í°ÍľËœ Í°ÍŽÍŻÍˇ

MARKET NEWS

United Capital Records N9.2bn Revenue, N5.6bn Goddy Egene United Capital Plc, a leading investment banking firm, has announced revenue of N9.26 billion for the year ended December 2018, showing an increase of four per cent above the N8.92 billion recorded in 2017. Total revenue appreciated majorly due to an increase net interest margin, financial advisory fees, gains from the sales and purchases of financial instrument.

Operating income grew from N7.0 billion to N7.2 billion. Net trading income by 43 per cent year on year, on the strength of increased gains from the sales and purchases of financial instruments. The group leveraged on cost saving techniques to deliver a 10 per cent reduction in operating expenses year-on-year. Profit before tax rose by 12 per cent from N5.55 billion to N6.22 billion in 2018, while profit after tax (PAT) stood at N4.34

P R I C E S MAIN BOARD

F O R DEALS

billion, compared with N4.36 billion the previous year. Also, total assets grew to N148.70 billion from N136.60 billion, representing a nine per cent increase. The board of directors has proposed a dividend of N1.8 billion, translating to 30 kobo per share for the shareholders. Commenting on the performance, the Group Chief Executive Officer of Unioted Capital Plc, Mr. Peter Ashade said:â€œThis result shows a modest improvement

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

in our performance when compared to the prior period and as can be gleaned from the result, gross earnings grew up by four largely due to increase in net Interest margin, fees and commission income, Net Income from trading arising from our dealings in financial instruments. Our continuous dedication to providing optimum satisfaction to our wide clientele base has necessitated the need for us to be creative and innovative in our

T R A D E D MAIN BOARD

A S

operations, and this is evident in the reduction in our operating expenses.â€? According to him, the group implemented the new IFRS 9-Financial Instruments, which required the reclassification of most of our financial assets. â€œThe standard necessitated the impairment of these assets based on the expected credit loss model. To this end an impairment charge of about N3 billion was recognised which significantly

O F

impacted the shareholdersâ€™ fund year-on-year.â€? Discussing the result further he said, â€œThis is a modest performance over that of the prior financial year 2017. We are confident that there will be marked improvement this year and years to come. This confidence stems from the various strategic initiatives we are currently implementing which are designed to create value for the various stakeholders.â€?

2 6 / 0 2 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, FEBRUARY 27, 2019

Wednesday, February 27 2019

Thisday Afrinvest 40 Index Shed 69bps

THISDAY AFRINVEST 40 INDEX

Yesterday, the Thisday Afrinvest 40 Index shed 69bps to close at 1603.89 due to losses in GUARANTY (-0.1%), ZENITH (-0.8%) and NESTLE (-4.4%). These stocks

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϯϵ͘ϰй ŽĨ ƚŚĞ ŝŶĚĞǆ͘

Ticker

THISDAY AFRINVEST 40

the benchmark index down 69bps to close at 32,473.82

N12.1tn

while

YTD

gain

slid

P/BV

Divinden Earnings d Yield Yield

4.0%

60.4%

20.4%

7.4%

6.4x

0.9x

4.8%

19.3%

10.7%

10.6%

34.1%

5.6%

5.7x

2.2x

7.1%

17.6%

Zenith Bank PLC

25.80

-0.8%

12.6%

11.9%

22.6%

3.2%

4.4x

1.0x

10.7%

22.7%

Nestle Nigeria PLC

Nigerian Brew eries PLC

FBN Holdings Plc

Cement Co Northern Nigeria PLC

Dangote Cement PLC

United Bank for Africa PLC

International Brew eries PLC

SEPLAT Petroleum Development C Access Bank PLC Ecobank Transnational Inc

traded increased 46.6% to 322.2m units while value 13 14

traded dipped 56.1% to N2.4bn. The top traded stocks 15 by volume were ACCESS (32.3m units), DIAMOND 16

(28.6m units) and UBA (19.0m units) while the top 18 19

values traded were GUARANTY (N677.7m), ZENITH 20

12.3%

192.50

0.0%

8.3%

1.5%

3.5%

20.1%

9.8%

20.1x

4.3x

5.5%

5.0%

1,510.00

-4.4%

7.5%

1.7%

2.4%

85.8%

26.3%

27.3x

21.3x

3.1%

3.7%

83.20

0.0%

5.4%

-2.7%

6.3%

11.3%

5.0%

33.8x

4.0x

2.9%

3.0%

8.00

-3.6%

4.8%

0.6%

0.0%

6.6%

0.8%

5.7x

0.4x

3.1%

17.5%

20.00

0.0%

4.2%

3.1%

34.2%

19.6%

4.8x

1.5x

6.3%

20.7%

8.00

-2.4%

4.1%

3.9%

2.6%

15.4%

1.8%

3.6x

0.6x

10.6%

27.6%

0.6x

3.0%

36.8%

10.3%

26.25

0.0%

2.8%

-13.9%

-16.7%

-23.8%

-3.2%

619.00

0.0%

3.1%

-3.3%

25.9%

15.3%

6.25

-1.6%

2.8%

-8.1%

-3.8%

14.1%

1.7%

2.6x

0.4x

14.25

1.1%

2.7%

1.8%

-0.3%

12.1%

1.0%

4.5x

0.6x

6.4x 2.7x

-1.4%

38.5% 22.3%

Stanbic IBTC Holdings PLC

48.50

0.0%

2.5%

1.1%

35.7%

4.6%

7.2x

2.3x

2.1%

Unilever Nigeria PLC

43.00

0.0%

2.6%

16.2%

14.7%

9.0%

21.2x

3.0x

1.2%

4.7%

Lafarge Africa PLC

13.00

0.0%

1.6%

4.4%

8.3%

-53.7%

-7.9%

0.9x

11.2%

-48.4%

Guinness Nigeria PLC

67.15

3.1%

1.1%

-6.7%

8.5%

4.5%

18.8x

1.7x

2.7%

5.3%

Okomu Oil Palm PLC

80.05

0.0%

1.2%

5.1%

39.3%

29.7%

7.6x

2.6x

3.7%

13.1%

13.9%

Total Nigeria PLC

190.00

0.0%

1.1%

-6.4%

34.6%

7.5%

6.6x

2.1x

8.7%

15.1%

11 PLC

180.00

0.0%

1.1%

-3.0%

38.0%

16.8%

6.0x

2.0x

4.4%

16.6%

20.00

0.0%

0.9%

-13.4%

-9.9%

6.6%

2.0%

9.2x

0.6x

5.0%

7.25

9.8%

1.5%

45.0%

51.0%

10.9%

1.7%

6.0x

0.5x

Flour Mills of Nigeria PLC Oando PLC

10.8% 16.6%

Fidelity Bank PLC

2.40

-2.4%

1.2%

18.2%

11.3%

1.5%

3.1x

0.4x

4.6%

31.9%

Transnational Corp of Nigeria

1.43

-3.4%

1.0%

8.3%

10.9%

19.3%

4.3%

4.7x

0.9x

2.1%

21.5%

Dangote Sugar Refinery PLC

15.40

-0.6%

0.9%

1.0%

6.1x

1.8x

8.1%

Diamond Bank PLC

2.50

2.0%

0.8%

FCMB Group Plc

2.26

-3.0%

0.7%

UAC of Nigeria PLC

8.80

0.0%

0.4%

Sterling Bank PLC

2.50

0.0%

Sector performance was mixed as 2 out of 5 sectors 27 28

under our coverage declined. The Consumer Goods and 29 30

ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ƐŚĞĚ ϭ͘ϲй ĂŶĚ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ͕ ŽŶ 31 ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ NESTLE (-4.4%), GUARANTY

P/E

-0.1%

Mixed Sector Performance

ROA

-0.69%

3.3%. ĐƟǀŝƚǇ ůĞǀĞů ĂůƐŽ ƌĞŵĂŝŶĞĚ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ 11

(N378.1m) and ACCESS (N203.1m).

ROE

38.15

ƉŽŝŶƚƐ͘ Ɛ Ă ƌĞƐƵůƚ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞĐůŝŶĞĚ 8 to

Price Price Change Change YTD Index to Date

1,603.89

ĞƐƉŝƚĞ ƚŚĞ ƉŽƐŝƟǀĞ start to trading yesterday, losses in 3 NESTLE (-4.4%), UBN (-8.3%) and FBNH (-3.6%) dragged

Previous Current Price Weightin Change g

Guaranty Trust Bank PLC

Local Bourse Closes in the Red͙ ASI down 69bps 1

N84.4bn

Current Price

32 33

(-0.1%) and ZENITH (-Ϭ͘ϴйͿ͘ KŶ ƚŚĞ ŇŝƉƐŝĚĞ͕ ƚŚĞ 34 35

4.1%

32.6%

16.4%

16.3%

-5.8%

-0.7%

19.6%

25.6%

8.4%

1.2%

3.0x

0.3x

4.4%

-9.7%

-7.9%

0.4%

0.2%

69.2x

0.4x

7.4%

1.4%

0.6%

31.6%

10.6%

1.1%

6.6x

0.7x

0.8%

15.2%

0.3x

16.3% -28.1% 33.8%

Presco PLC

75.00

0.0%

0.4%

17.2%

37.0%

24.8%

3.0x

0.9x

2.8%

33.8%

NASCON Allied Industries PLC

18.90

0.0%

0.3%

5.0%

47.0%

17.5%

9.9x

4.4x

7.9%

10.1%

Forte Oil PLC

28.00

0.0%

0.3%

-2.4%

0.0%

84.6%

8.3%

11.5x

2.1x

8.7%

Union Bank of Nigeria PLC

6.65

-8.3%

0.3%

18.8%

5.3%

1.0%

12.1x

0.7x

8.3%

17.3%

1.8%

7.3x

1.2x

3.8%

1.1x

1.2% 6.0%

Julius Berger Nigeria PLC

26.50

0.0%

0.3%

31.8%

19.9%

PZ Cussons Nigeria PLC

12.30

0.0%

0.2%

1.7%

0.0%

Chemical and Allied Products P

34.00

0.0%

0.2%

-2.4%

66.2%

30.2%

15.9x

10.6x

0.85

-6.6%

0.2%

34.9%

6.6%

0.8%

9.7x

0.6x

13.6%

6.3%

Insurance and Oil & Gas indices improved 3.2% and 36

Wema Bank PLC

ϭ͘ϲй ƌĞƐƉĞĐƟǀĞůǇ ďĂƐĞĚ ŽŶ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶƐ ŝŶ 37

Beta Glass PLC

79.00

0.0%

0.2%

15.7%

17.7%

11.5%

9.6x

1.6x

1.4%

10.4%

Dangote Flour Mills Plc

12.05

9.0%

0.2%

75.9%

82.6%

14.9%

4.2%

10.7x

1.5x

1.7%

9.4%

MANSARD (+7.3%), AIICO (+5.4%) and OANDO (+9.9%) 39

Transcorp Hotels Plc

6.10

0.0%

0.1%

0.0%

12.4x

0.8x

2.5%

8.0%

AXA Mansard Insurance PLC

2.20

7.3%

0.1%

20.2%

11.5x

1.1x

2.7%

8.7%

ǁŚŝůĞ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƫƐŚ͕ ŝŶĐŚŝŶŐ 4bps following gains in CUTIX (+9.6%).

T o p 10 G a ine rs T ic k er

P ric e

P ric e C hg %

A F R IP R UD

4.84

10.0%

OA N D O

7.25

9.8%

A GLEVEN T

0.34

9.7%

10.5%

T o p 10 T ra de s by V o lum e T ic k er

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ DŽĚĞƌĂƚĞƐ

C UT IX

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ƚŚĞ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ A IR SER VIC E ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ŵŽĚĞƌĂƚĞĚ ƚŽ ϭ͘ϭǆ ĨƌŽŵ ϯ͘ϭǆ D A N GF LOUR recorded yesterday as 21 stocks advanced against 20 decliners. AFRIPRUD (+10.0%) led the gainers' chart following the release of FY:2018 result followed by OANDO (+9.8%) and AGLEVENT (+9.7%) while NPFMCRFBK (-9.7%), UBN (-8.3%) and JAPAULOIL (7.4%) were yesterday's worst performing stocks. Based ŽŶ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ǇĞƐƚĞƌĚĂǇ͕ ǁĞ ĂĚǀŝƐĞ ĐĂƵƟŽƵƐ

-1.6%

D IA M ON D B N K

28.6

2.0%

UB A

19.0

-2.4%

2.05

9.6%

GUA R A N T Y

17.8

-0.1%

7.05

9.3%

T R A N SC OR P

17.6

-3.4%

9.0%

D A N GF LOUR

16.1

9.0%

0.25

8.7%

FB NH

15.6

-3.6%

LIVEST OC K

0.63

8.6%

Z EN IT H B A N K

14.5

-0.8%

R OYA LEX

0.39

8.3%

F ID ELIT YB K

12.2

-2.4%

SOVR EN IN S

0.27

8.0%

ET I

11.3

1.1%

P ric e C hg %

T o p 10 Lo s e rs T ic k er

T o p 10 T ra de s by V a lue

P ric e

P ric e C hg %

T ic k er

Value

NP FM CRFB K

1.49

-9.7%

GUA R A N T Y

677.7

-0.1%

UB N

6.65

-8.3%

Z EN IT H B A N K

378.1

-0.8%

J A P A ULOIL

0.25

-7.4%

A C C ESS

203.1

-1.6%

WEM A B A N K

0.85

-6.6%

D A N GF LOUR

193.3

9.0%

A B CTRA NS

0.54

-5.3%

ET I

161.2

1.1%

1510.00

-4.4%

UB A

153.7

-2.4%

8.00

-3.6%

FB NH

126.6

-3.6%

N EST LE

80.8

-4.4%

D IA M ON D B N K

70.1

2.0%

OA N D O

54.4

9.8%

FB NH

FCM B UB A

(A Dealing Member of the Nigerian Stock Exchange)

P ric e C hg %

32.3

12.05

T R A N SC OR P

Afrinvest Securities Limited (RC 603 315)

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A C C ESS

VER IT A SKA P

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are announced.

3.3%

10.3%

1.43 2.26 8.00

-3.4% -3.0% -2.4%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde |

Bolaji Fajenyo | bfajenyo@afrinvest.com

Jolomi Odonghanro | jodonghanro@afrinvest.com

romotunde@afrinvest.com

T H I S D AY Ëž Ëœ ÍşÍżËœ ÍşÍ¸ÍšÍˇ

MARKET NEWS

Central Securities Clearing System Obtains ISO Recertification Goddy Egene Central Securities Clearing System (CSCS) Plc been recertified under ISO/IEC 27001:2013 following the recent audit of its compliance with information security risks controls by the British Standards Institution (BSI), United Kingdom(UK). BSI is one of the worldâ€™s largest accreditation bodies for ISO certifications. According

to CSCS, the audit involved a series of process validation and assurance check of controls with respect to company and client data management. Whilst receiving the recertification report, the Managing Director/Chief Executive Officer of CSCS Plc, Mr. Haruna Jalo-Waziri said that as a significant capital market infrastructure and indeed, the central securities depository

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

for the Nigerian capital market, one of CSCSâ€™ paramount areas of focus is protection of commercially sensitive information belonging to the company and its investors. According to Mr. Jalo-Waziri, â€œCSCS is committed to upholding the highest standards of security for the processes, people and technology powering our services. The confidentiality, integrity and availability of information under

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 25Feb-2019, unless otherwise stated.

our custody is held sacrosanct. ISO recertification provides assurance to all our customers that we have controls in place to identify and mitigate potential risks to confidential information. We work hard to ensure that we build trust and credibility in the market so as to inspire confidence among our stakeholdersâ€?. Mr. Jalo-Waziri added that the â€œrecertification serves to

test and affirm our commitment to information security at all levels of our business and I am pleased to begin the year with this milestone.â€? He expressed his profound appreciation to both internal and external stakeholders for their commitment and steadfastness in ensuring the success of the recertification audit. The ISO/IEC 27001:2013

certification was first obtained by CSCS in 2015. It is conducted by BSI every three years and in between, a yearly surveillance audit is done. The next recertification audit comes up in 2022. The Global Legal Entity Identifier Foundation (GLEIF) last year accredited the CSCS Plc to perform all Local Operating Unit (LOU) services in Nigeria.

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 164.37 164.82 3.92% Afrinvest Plutus Fund 100.00 100.00 11.00% Nigeria International Debt Fund 279.08 279.66 2.25% 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 2.30% ACAP Income Funds 0.62 0.62 11.74% 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 N/A AIICO Balanced Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 105.23 105.97 4.00% 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 13.86% Paramount Equity Fund 12.13 12.23 2.70% Women's Investment Fund 105.36 105.90 1.68% 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 13.45% Cordros Milestone Fund 2023 101.62 101.78 Cordros Milestone Fund 2028 102.75 103.35 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 13.13% Coronation Balanced Fund 0.86 0.86 Coronation Fixed Income Fund 1.15 1.15 3.02% 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 12.37% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 11.83% 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 0.00 0.00 -100.00% FBN Heritage Fund 147.35 148.72 2.75% FBN Money Market Fund 100.00 100.00 14.22% FBN Nigeria Eurobond (USD) Fund - Institutional 115.58 115.94 1.48% FBN Nigeria Eurobond (USD) Fund - Retail 115.53 115.88 1.69% FBN Nigeria Smart Beta Equity Fund 155.07 157.36 3.38% 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 2.19% Legacy Debt Fund 3.30 3.30 1.85% Legacy USD Bond Fund 1.04 1.04 0.70% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 12.74% Vantage Balanced Fund 2.20 2.23 2.42% Vantage Guaranteed Income Fund 1.00 1.00 15.94% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A 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 12.00 12.10 4.31% Meristem Money Market Fund 10.00 10.00 12.36% 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 8.07% PACAM Fixed Income Fund 12.37 12.44 1.37% PACAM Money Market Fund 10.00 10.00 13.50% 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 2.14% 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 2,390.30 2,405.08 5.47% Stanbic IBTC Bond Fund 193.34 193.34 3.00% Stanbic IBTC Ethical Fund 1.00 1.01 5.79% Stanbic IBTC Guaranteed Investment Fund 251.52 251.55 3.78% Stanbic IBTC Iman Fund 169.75 171.64 4.05% Stanbic IBTC Money Market Fund 100.00 100.00 13.29% Stanbic IBTC Nigerian Equity Fund 8,794.48 8,901.01 5.36% Stanbic IBTC Dollar Fund (USD) 1.12 1.12 3.65% 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 1.22 0.78% United Capital Bond Fund 1.63 1.63 2.29% United Capital Equity Fund 0.71 0.72 -0.38% United Capital Money Market Fund 1.00 1.00 13.49% United Capital Eurobond Fund 108.90 108.90 1.52% United Capital Wealth for Women Fund 1.10 1.11 1.10% 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 N/A N/A N/A Zenith Ethical Fund N/A N/A N/A Zenith Income Fund N/A N/A N/A Zenith Money Market Fund N/A N/A N/A

REITS NAV Per Share

Yield / T-Rtn

N/A 118.85 51.93

N/A 0.04% 0.00%

Bid Price

Offer Price

Yield / T-Rtn

N/A 118.28 93.27

N/A 120.84 95.03

N/A 0.85% 5.21%

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

4.40 7.58 15.44 12.55 150.21

4.44 7.66 15.54 12.75 152.21

10.01% -0.48% 3.25% 1.52% 4.62%

NAV Per Share

Yield / T-Rtn

107.24

17.42%

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.

WEDNESDAY FEBRUARY 27, 2019 ˾ T H I S D AY

INTERNA TIONAL

Israeli Ex-minister Sentenced to 11 Years for Spying for Iran An Israeli ex-minister was sentenced to 11 years in prison on Tuesday for spying for his country’s main enemy Iran after a plea bargain in the case, the prosecutor said. Gonen Segev, who served as energy and infrastructure minister from 1995 to 1996, had previously agreed to a plea bargain on charges of serious espionage and transfer of information to the enemy. Court hearings were held in secret due to the nature of the case.

Prosecutor, Geula Cohen, confirmed to journalists outside the Jerusalem district court that the judge had accepted the plea bargain and issued the sentence. “He admitted having given information to the Iranians over five years,” Cohen said. “The agreement is aimed at protecting security sources and keeping information confidential. A longer trial would not have allowed all the information to be kept secret.” She added that “an Israeli who spied for Iran in Africa

and who ends up in prison in Israel is an important victory.” Segev’s lawyer, Moshe Mazor, told journalists that his client had expressed regret for his actions. “We think that the verdict conforms with his actions and has not been lightened as much as some have written.” His lawyers had previously said that a charge of treason had been dropped as part of the deal. Segev’s motives were not made clear and many details of

May Meets Cabinet under Pressure to Rule out No-deal Brexit Pressure built on Prime Minister Theresa May to rule out Britain leaving the EU without a deal on Tuesday, as she met her cabinet ahead of a statement to parliament. “Three junior ministers published a joint appeal to May in the mass-circulation Daily Mail newspaper: “Act immediately to ensure that we are not swept over the precipice on March 29. “The way to do that is to seek a short extension to Article 50 to allow the negotiations to be completed, the legislation to pass and for the panic that businesses face to subside,’’

Richard Harrington, Margot James and Claire Perry wrote. Other lawmakers in May’s Conservatives, including several cabinet ministers, have urged her to rule out a no-deal Brexit. May will make a statement to parliament’s main elected house, the Commons, later before several votes on Wednesday on her motion setting out the planned next steps in the Brexit process. She has promised lawmakers another “meaningful vote” by March 12 on the Brexit deal, after she suffered a crushing defeat in January. May insisted on Monday

that an agreement for Britain to leave the EU as scheduled on March 29 remained within grasp. Meanwhile her negotiators continue to seek assurances from the EU on a controversial “backstop” arrangement in the withdrawal agreement to guarantee an open Irish border. Opposition Labour leader Jeremy Corbyn, adding to the pressure on May, said on Monday that he will back a second referendum on Brexit if, as expected, a Labour amendment is defeated on Wednesday.

US, Taliban Discuss Troop Withdrawal, Counter-terrorism at Peace Talks American and Taliban officials looking to end a 17-year war in Afghanistan began their most detailed and high-level discussions yet on Tuesday. The discussion focuses on foreign troop withdrawals and counter-terrorism, officials close to the peace negotiations said. The first meeting on Monday between Khalilzad and Baradar appeared to be “formal, and yet very cordial,” a third source close to the talks said. The two agreed to have “a result-oriented discussion” for the next five days, the source said. Hopes have been high for a breakthrough ever since Baradar, a co-founder of the Taliban and the movement’s new political chief, was freed from a Pakistani jail last year to participate. His appointment was widely seen as a fresh effort by the Taliban to emerge from the political and diplomatic shadows.

“Baradar gave the opening address, met with all the U.S. and Qatari officials. He requested his delegation to continue talks. He will be in Qatar, but may not attend all the sessions,” the first official said. The United States intervened in Afghanistan in 2001 to help opposition forces topple the Taliban government which had sheltered the al Qaeda militants responsible for the Sept. 11 attacks. Washington and its allies later sent troops to prevent the Taliban from returning to government in a war that escalated for a decade. The talks kicked off in Doha on Monday with a meet-andgreet lunch. It is seen as the most promising yet between the warring parties after the Taliban’s newly appointed political chief Mullah Abdul Ghani Baradar joined for the first time, flying in from Pakistan. The two sides are looking

to hammer out a timeline and logistics for a potential troop withdrawal, as well as guarantees that the Taliban will not host militant groups as the U.S. winds down its presence. “The Taliban knows foreign forces are committed to withdrawal, but we have the responsibility to ensure that Afghanistan does not get used as a base to launch terror attacks on foreign nations,” one of the officials said. Some 14,000 U.S. troops are based in Afghanistan as part of a U.S.-led NATO mission to train, assist and advise Afghan forces. Some U.S. forces also carry out counterterrorism operations. U.S. military officials have been brought in to join this week’s talks in Doha, a second official said, raising hopes for progress after the last round in January secured a broad framework agreement but few details on critical aspects of a ceasefire and withdrawal.

Algerian University Students Protest Bouteflika’s Presidential Bid Thousands of Algerian university students rallied on Tuesday to protest against ailing President Abdelaziz Bouteflika’s bid for a fifth five-year term in office. The protests came a day after Algerian Prime Minister, Ahmed Ouyahia, said ballot boxes were the right way to choose a president. “The elections will be held in less than two months, and people will have the opportunity to choose whomever they want,’’ Ouyahia said in a speech. Tuesday’s protests, staged

in response to calls by social media activists, took place in the capital Algiers and other cities of the North African country. The protesters chanted: “No to the fifth term’’ and “we do not want Bouteflika or al-Saeed,’’ in reference to Bouteflika’s brother, who is being groomed to succeed him. Security forces at the University of Algiers closed the gates and prevented students from leaving or entering the campus. Thousands have taken to the streets since Feb. 22, to

protest the 81-year-old leader’s plan to run in the April 18, presidential election. Bouteflika suffered a stroke in 2013 and is rarely seen in public. During the earlier protests, police used tear gas to disperse demonstrators. Twelve persons were arrested for “public disorder, assaulting security forces and damaging property’’. In recent years, Algeria’s finances have been hurt by the global drop in oil prices, prompting cuts in state subsidies.

the case have been kept secret. The Shin Bet domestic security service previously accused him of providing Iran with “information related to the energy market, security sites in Israel, buildings and officials in political and security bodies, and more.” The crimes occurred while he was living in Nigeria between 2012 and his arrest at Israel’s Ben Gurion airport in May 2018, according to the Shin Bet. It said Segev had been in contact with Iranian embassy

officials in Nigeria and he later visited the Islamic republic for meetings with his intelligence handlers. Israeli media have reported that after his arrest, he claimed to have wanted to act as a double-agent to help Israel. The 63-year-old served in the Labour government of Prime Minister Yitzhak Rabin after defecting from the far right to cast the decisive vote in favour of the Oslo II peace agreement with the Palestinians. He was also part of Shimon

Peres’s government after Rabin’s assassination. Segev has previously served prison time on criminal charges. In 2004, he was charged with trying to smuggle 30,000 ecstasy pills into Israel from the Netherlands using a diplomatic passport with a falsified expiry date. The following year, he admitted the charges as part of a plea bargain. He has also been convicted of attempted credit card fraud.

Russia Accuses US of Preparing Military Intervention in Venezuela A top Russian security official on Tuesday accused the United States of deploying forces in Puerto Rico and Colombia in preparation for a military intervention in Venezuela to topple, President Nicolas Maduro. Venezuela has been plunged into political turmoil and was rocked by violent clashes at the weekend. The U.S. and a raft of other countries have backed the country’s opposition, while China and Russia have stood by Maduro’s government. “…The U.S. is preparing a military invasion of an independent state,” Nikolai Patrushev, Secretary of the Russian Security Council, said.

“The transfer of American special operations forces to Puerto Rico, the landing of U.S. forces in Colombia. “And other facts indicate the Pentagon is reinforcing its troops in the region in order to use them in an operation to remove … Maduro from power.” Patrushev said that Washington had asked Moscow for consultations on Venezuela and that Russia had agreed, but that U.S. officials had repeatedly postponed them under false pretexts. U.S. officials have previously dismissed Russian allegations about U.S. plans for Venezuela as baseless “propaganda.” Also, the U.S. targeted Venezuela’s government with

new sanctions on Monday It also called on allies to freeze the assets of its state-owned oil company PDVSA after deadly violence blocked humanitarian aid from reaching the country over the weekend. The Trump administration also took its pressure campaign to the UN Security Council, asking it to discuss the situation in Venezuela, diplomats said. The U.S. Vice President, Mike Pence, said the U.S. would stand by Guaido until freedom was restored and also said tougher measures were coming against the OPEC member. Venezuelan opposition leader Juan Guaido, who many nations have recognised as the country’s rightful interim ruler.

WEDNESDAY FEBRUARY 27, 2019 ˾ T H I S D AY

NEWSXTRA

Sanwo-Olu Charges Lagos Residents to Co-exist in Peace Esther Oluku The All Progressives Congress (APC) governorship candidate in Lagos State, Mr. Babajide Sanwo-Olu, has encouraged the residents of the state to continue to co-exist in peace in spite of the attempt by various opposing groups to cause chaos at the polls last weekend. Sanwo-Olu who spoke against discriminatory comments fuelled by the disruption of elections in some areas of Lagos State during the last weekend’s presidential and National Assembly elections in the state cautioned that the state residents should not play into the hands of mischief makers and crisis merchants. He declared that the state is a home for all, reassuring that if elected, his government will serve residents, regardless of their ethnicity, religion or party affiliation.

Speaking on the conduct of the last Saturday’s elections, which he described as peaceful and well-coordinated, SanwoOlu said that “every resident of the state is central to the promised socio-economic development of the state, and everyone has the right to identify with any party of their choice. We are stronger and better in our diversity.” He added that: “As a politician and a governorship candidate, it will be exciting for me to have the support of every tribe in the state, but where people have other preferences, I cannot say that they do not have such rights. However, it will only be appropriate for electorate to support a party that has made Lagos a home for everyone. For instance, 40 per cent of teaching staff in Lagos state public schools are non-Yorubas, the pupils in secondary schools, for which Lagos state government pay

for National Examination Council and Senior Secondary School Examinations are in equal proportion between the Yorubas and non-Yorubas in Lagos State” He further stated that, “as a state, Lagos recognises her heterogeneity and will

continue to promote the assorted ethnic composition as a unique advantage over other states in Nigeria. It is only in Lagos State that you can find principal officers, who are not ethnic people in the state civil service, parastatals and establishments. I call on

everyone to eschew violence and any form of harassment of innocent people. We must live in peace for development we know in Lagos to continue” The APC gubernatorial candidate has anchored his campaign on inclusive governance, stressing that he will work

to positive impact on the lives and businesses of the state’s residents.Earlier in his campaign, Sanwo-Olu had engaged a number of stakeholder groups, including the Ndigbo, Arewa, AkwaIbom, Edo, Ijaw and other ethnics associations in Lagos.

NBA ACCUSES INEC OFFICIALS OF AIDING ELECTION RIGGING were prevented, hindered or inhibited from performing their civic responsibilities on the suspicion that their votes had the potential to produce outcomes that were undesirable to or unintended by the illegal “enforcers” and “gatekeepers”. Thus, voters were chased away and forced to return to their homes. Meanwhile, Yakubu has promised that the electoral umpire will probe some already identified calculation errors in the results of last Saturday’s presidential and National Assembly elections. His promise followed the alarm raised yesterday by the National Chairman of the opposition Peoples Democratic Party (PDP), Mr. Uche Secondus over alleged inconsistencies in the results of Nasarawa State. Yakubu who was responding to a question by a member of the Progressive People’s Alliance (PPA), noted that the commission needed to look into some conflicting figures in the result. The PPA member was particularly bothered that since accreditation and voting came simultaneously, the fact that over 14, 000 votes were not categorised as invalid votes and are not allotted to any candidate needed to be queried. Responding to the issues raised, Mahmood stated that: “We will look at it. We will come back to it before we conclude the process,” stressing that the issue had been raised previously. However, CUPP has rejected the results of last Saturday’s presidential elections currently being collated by INEC. In a statement by its National spokesperson, Ikenga Ugochinyere, CUPP stated that Nigerians are no longer in doubt that the 2019 general election was “a complete departure from the electoral gains made in 2015. The coalition described Yakubu as the worst to preside over the electoral umpire since 1999 for his alleged unbridled avarice and pursuit of petty religious, ethnic and primordial sentiments. It further alleged that the INEC boss fully collaborated

with the federal government “to rob the people of their will while looking the international community straight in the eyes and lying to them.” The CUPP stressed that the returns made by Yakubu are not in tandem with the wishes of Nigerians, adding: “The country did not erupt in wild jubilations, rather citizens are seen gathering in small clusters discussing in low tunes knowing that Nigeria is now perfectly on the path to disintegration and absence of growth and development.” “We hereby, on behalf of the people of Nigeria reject the results of the elections and the purported victory of President Muhammadu Buhari and the APC and also declare the purported mandate which the President lays claim to as a stolen and illegitimate and which ought to be returned to the rightful owner.” The opposition parties lamented that in the glare of the whole world, the government killed its own citizens, cancelled results particularly in areas of strength of the opposition, inflated scores recorded particularly in areas of strength of the President, burnt INEC offices in areas where it was not sure of victory, raided opposition leaders’ homes and officers, compromised INEC and security officials. According to CUPP, despite all these, the INEC chairman allegedly “crowned them with victory dripping with blood of innocent citizens who were mauled down by bullets of enemies of democracy because of the desperation of a non-performing president to hold on to power.” CUPP called on the international bodies to place visa ban on the INEC chairman and all members of his immediate family, the heads of Nigeria’s security agencies, All Progressives Congress (APC) leadership, compromised INEC Resident Electoral Commissioners (RECs) and other top government functionaries it described as having actively participated in robbing the country of its legitimate choice of democratic leadership.

SEEKING DIVINE ENDORSEMENT...

L-R: Pastor Tony Rapu of This Present House; wife of Lagos State governorship candidate of All Progressives Congress, Dr. Ibijoke SanwoOlu; and her husband, Mr. Babajide Sanwo-Olu, during a visit to the church in Lagos... recently

Uduaghan Seeks Cancellation of Delta South Senatorial Election Omon-Julius Onabu in Asaba Former Governor of Delta State and All Progressives Congress (APC) senatorial candidate for Delta South, Dr. Emmanuel Uduaghan, has demanded the cancellation of results declared by INEC for last Saturday’s election in Delta South district for alleged gross irregularities. Uduaghan, while thanking his constituents for the support shown through their

large turnout at the polling centres, noted that he was robbed of victory due to the alleged irregularities, including violence. The incumbent, Senator James Manager of the Peoples Democratic Party (PDP) won the election to represent the district for a record fifth time. Results released by INEC showed that Manager won seven of the eight local government areas in the zone

including Uduaghan’s Warri North. Uduaghan defeated Senator Manager in Warri South; winning by 17,000 votes to the latter’s 12,000 votes, according to the results declared by INEC yesterday. Mr. Monoyo Edon, Media Assistant to Uduaghan, who issued the statement yesterday evening, said that the former governor ‘’wishes to state that the above election was

fraught with a lot of electoral malpractices, irregularities, ballot stuffing and further crippled with electoral violence in some parts of Burutu, Bomadi, Patani, Warri North and Isoko North LGAs.” He said that ‘’Uduaghan had already petitioned INEC in respect to paragraph two above during collation of results and the final announcement at the Senatorial Collation Centre in Oleh.’’

I’ll Retrieve My Mandate from Al-Makura, Adokwe Vows Emmanuel Ukumba in Laﬁa The Senator representing Nasarawa South senatorial zone, Suleiman Adokwe, has vowed to take back the senatorial zone seat won by the state Governor, Umaru Tanko Al-Makura, in the just concluded National Assembly election. The Independent National Electoral Commission (INEC) last Monday declared Al-Makura, who contested the state Southern

senatorial district seat on the platform of the All Progressives Congress (APC), as winner having polled a total of 113,156 votes to beat Senator Adokwe of the Peoples Democratic Party (PDP), who scored 104,495 votes. But at a press briefing in Lafia, the Nasarawa State capital, Adokwe who is the current representative of the district at the National Assembly, rejected the declaration of Al-Makura by INEC as the winner of the

election. According to him, “We will take back our mandate. I have done that before. We will pursue it. In fact this case is going to be easier for me because what has happened is very easy to recover.” “It was done in a very shabby, brazen and jackboot manner. It was not a product of fine mind. So it is very easy to take it back. There is no need for us to go on confrontation. We will get our mandate back.” The federal lawmaker went

further to caution the state government and its collaborators in shortchanging the people of the state that if they don’t allow the people to exercise their democratic right, they are giving them no option than to go on a revolutionary path. He said: “We are getting towards that. It is absolutely unacceptable to the generality of our people in the rural areas that they are prevented from voting as they are supposed to vote.”

Lagos Senator Commends Constituents, INEC on Victory Jonathan Eze Following his declaration as duly elected Senator of Lagos West senatorial district in the February 23 presidential and National Assembly elections, Senator Solomon Adeola has commended his constituents for renewing his mandate through their massive votes with a promise to improve on

his track records in law making and effective representation. The INEC’s Returning Officer for Lagos West, Professor Olumide Afolarin, announced that the senator polled 323,817 votes against his PDP rival, who scored 243,516. Speaking to journalists on his victory, Adeola said he owed his victory to God and his constituents who rewarded his effective representation with another term

in the Red Chamber, adding that INEC should also be commended for conducting a free, fair and credible election in the face of daunting challenges. According to a statement sent to THISDAY by his Media Adviser, Chief Kayode Odunaro, Adeola thanked God and the good people of Lagos West for yet another electoral victory. “I appreciate all my leaders particularly my national leader,

Bola Tinubu, for reposing confidence in me to be among the representatives of Lagos State in the highest legislative body,” he said. Adeola pledged to be more focused and dedicated to his work in the Senate, adding that he would always strive for Lagos West to have its fair share in terms of development and poverty alleviation as the largest senatorial district in Nigeria in terms of population.

WEDNESDAY FEBRUARY 27, 2019 ˾ T H I S D AY

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Court Reverses EFCC’s Demotion of Academy Commandant Alex Enumah in Abuja The National Industrial Court of Nigeria (NICN) sitting in Abuja yesterday reversed the demotion of the former Commandant of the Economic and Financial Crimes Commission (EFCC) Academy, Mr. Ayo Olowonihi. Justice Musa Kado, in a judgment ordered the reinstatement of Olowonihi to his position as Detective Commandant, Grade Level 17, after he set aside a letter of reinstatement, which

downgraded Olowonihi to Grade Level 16, for being illegal, null and void. Olowonihi, who was demoted from grade level 17 to 16/7 in 2017, two years after he was recalled from suspension without pay, had instituted a legal action at the Industrial Court, challenging his demotion by the EFCC. In the suit marked NICN/ ABJ/347/2017, the claimant asked the court to declare his demotion as well as the processes that led to it illegal, unlawful, null and void.

Orji: I’ll Quit Senate in 2023 for Younger Politicians Emmanuel Ugwu in Umuahia Still savouring his victory in the just concluded senatorial election, Senator Theodore Orji yesterday said he would retire from the Senate in 2023 after serving out his second tenure in the ninth session of the Senate. He disclosed his future political plan at his post-election media chat at his constituency office in Umuahia, Abia State, noting that 2023 would be the ripe time for him to make way for young politicians to take over from him and grow. “In 2023, I will be off the political scene. This is my last political outing in terms of contesting for elective position,” he declared, adding: “You have to allow young people to grow, and if I don’t retire from politics, I’ll be denying young people the opportunity to grow.” Orji, who shrugged off a stiff challenge from Senator Nkechi Nwaogu of the All Progressives Congress (APC) to secure his second tenure in the Red Chambers of the National Assembly, profusely thanked the people of Abia Central senatorial district for renewing his mandate. He said the people of Abia Central were satisfied with his performance as a senator having made positive impact in all spheres with visible projects in all the six component local government areas of Abia Central benefitting from water and electricity projects as well

as empowerment programmes. “There will be more dividends of democracy,” he assured his constituents, adding that they can easily testify to the fact that good things have come and would continue to come their way during his next tenure in the Senate. Orji acknowledged that though he emerged victorious in the senatorial poll, his opponents had fought gallantly and he expected them to accept their defeat in the spirit of sportsmanship, and congratulated him accordingly. “There is no political battle that is easy,” he noted, adding that he remained optimistic of recording a positive result in the poll notwithstanding the bragging, campaign of calumny and character assassinations employed by his opponents during the electioneering period. The former Abia State governor said having been re-elected for the second term in the Senate, he was aware that his constituents are full of expectations and they know he would not disappoint them in implementing his campaign promises. According to him, in the course of his campaigns, his constituents identified and presented their priority projects to him, and it was now left for him to attend to their needs and make democracy dividends available to them.

Shettima, Ndume, Kyari Win Senate Seats Michael Olugbode Borno State Governor, Kashim Shettima, has been elected senator to represent Borno Central in the next Senate. He defeated the Special Adviser on Assembly Matters to Presidents Umar Yar’Adua and Goodluck Jonathan. He also represented Borno Central in the Senate between 2003 and 2007. Declaring the result at INEC office in Maiduguri at about 2a.m. yesterday, the Returning Officer, Professor Yusuf Yusuf of the University of Maiduguri, said Shettima polled 340,898 votes with his closest opponent Mohammed Abba-Aji of the PDP polling 75, 509 votes. Also, Senator Mohammed Ali Ndume of the APC has been elected and returned to Senate

for Borno South district for the third time. Ndume garnered 300,637 to beat others with his closest opponent, Satumari Kudla, of the PDP polling 84,608. In a result declared by Prof. Isa Hassan, incumbent Senator for Borno North, Abubakar Kyari of the APC, was returned. He defeated others with Hon. Isa Lawan of the PDP coming second. Meanwhile, the APC has won all the ten House of Representatives seats in the state.In the House of Representatives, the incumbent member representing Maiduguri Metropolitan Council, Hon. AbdulKadir Rahis, polled 93,497 votes to be returned defeating others with his closest opponent, Abdulsalaam Kachallah, polling 60,132 votes.

The claimant in a 62 paragraph oath deposed to in support of the suit, said he was not given fair hearing before disciplinary action was taken against him. Among the issues raised for determination before the court include whether the EFCC Staff Regulations Handbook 2007, used for the discipline of the claimant was validly made, having not been approved by the Commission. Delivering Judgment in the suit, Justice Kado decided all three issues raised for determination in favour of the claimant. He held that for the fact that the commission’s Regulation Handbook, which guides the appointment as well as disciplinary procedures of employees has not been approved by the commission renders it invalid. “Failure of the defendant’s counsel to produce approval by the commission means it is either not in existence or it will be not be in the favour of the

defendant”, he said. Justice Kado further noted that while the absence of signature on the document may not necessarily make it invalid, there was no commencement date to show when it actually came into force. He held that the approval of the draft by the chairman does not amount to approval by the commission, which has been empowered by law to do so. He, accordingly, held that the purported regulation handbook used for the suspension and subsequent demotion was not valid and as such null and void. On the second issue, the court, having declared as invalid the EFCC’s handbook for lacking approval of the commission, agreed with the submission of counsel to the claimant, Prof. Joash Amupitan (SAN), that the defendant did not comply with the Public Service Rules, which is the applicable regulation on

disciplinary matters affecting the claimant who is a Director on GL 17. He said section 9(2b) of the Act establishing the EFCC provides that until there is a regulation in place guiding the appointment, discipline and dismissal of employees of the commission, the civil service rule shall continue to be in force. Justice Kado held that while the chairman of the commission or the secretary has the right to initiate disciplinary proceedings against the claimant, it is the commission that has the power to sanction after due consultation with the Federal Civil Service Commission. Similarly, on the issue of fair hearing, the judge agreed with the claimant that the fact that he was not given opportunity to defend himself before the Ad-hoc Committee set up to investigate him and two others rendered the whole exercise a nullity.

“There is a violation of natural justice”, the court held “the claimant appointment is statutory and can only be tampered with strict public service rule. He subsequently held that the letter of reinstatement downgrading the claimant to GL 16 is “nullified and set aside” and ordered the EFCC to reinstate the defendant back to his position as Detective Commandant Grade Level 17. Justice Kado, however, stated that the court cannot order the defendant to restore the claimant as Commandant of the EFCC Academy as the defendant has the right to deploy its personnel to any position it seems appropriate. The court also refused to grant the prayers of the claimant on the payment of all his salaries and allowances within the period of the suspension on the grounds that the claimant failed to prove that he was entitled to such relief.

TACKLING EROSION MENACE…

L-R: Edo State Commissioner for Environment and Sustainability, Omoua Oni-Okpaku; Chairman, state chapter of All Progressives Congress, Mr. Anselm Ojezua; Chairman, Esan Central Local Government Area, Hon. Edokpa Waziri; Edo State Governor, Mr. Godwin Obaseki; and Enogie of Ewu, His Royal Highness, Razaq Ojiefo, during the official flag-off of remediation work by the governor, at Ewu erosion site, in Ewu, Esan Central LGA of the state…recently

30 Political Parties Call for Fresh Polls in Bayelsa Emmanuel Addeh in Yenagoa

Thirty political parties under the umbrella of Coalition of Political Parties (CUPP) in Bayelsa State have called for the cancellation of elections in some parts of the state. The parties also condemned the alleged abduction of officials of the Independent National Electoral Commission (INEC) and hijacking of voting materials in all the seven wards of Bassambiri, Nembe Local Government Area. Describing as unacceptable the reported deaths in the state during the polls, the coalition also listed wards 4, 14, 15 and

16 in Southern Ijaw as places where elections did not take place. Chairman of the body, Tare Edwin; Secretary, Brisbe Kpodoh and Ebiowei Olomu, who jointly addressed journalists along 27 other parties, accused the All Progressives Congress (APC) and INEC of rigging elections with the help of security operatives. The group added that in unit 4, Tambiri Quarters, Agbere, Sagbama, a managing director of a federal government agency invaded the area with a large number of soldiers, policemen and thugs, and carted away all

electoral materials, resulting in many casualties. According to the political parties, “In Southern Ijaw, Ward 2, Oweikoroghe several deaths were recorded, including one Seidougha Taribi, who was shot dead. “We demand a fresh election to be conducted in all these areas affected and call on INEC not to accept any results from these areas.” The Labour Party (LP) also called for the cancellation of polls in wards 4, 5,6,7,11,12 and 13 in Nembe, insisting that the sustained shooting in the area scared the electorate from voting.

The state LP Chairman, Mr Ebiowei Olomu, told journalists during the briefing that in Nembe-Bassambiri, the materials were hijacked and taken to a private hotel where there was massive thumbprint of ballot papers. “We therefore demand a rescheduling of these elections or cancellation of any results therefrom as they would be products of mass rigging and bloodshed,” the party said. The CUPP said its leaders had already made a presentation to INEC on the matter, and asked the electoral umpire to act on it urgently.

WEDNESDAY FEBRUARY 27, 2019 ˾ T H I S D AY

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Protest as Army Parades Soldier, Wike’s Aides for Alleged Electoral Offences Defend allegations of carting away election materials, governor charges army Ernest Chinwo in Port Harcourt There were protests yesterday at the Officers Mess of the headquarters of 6 Division, Nigerian Army, Port Harcourt when the army paraded a soldier, four policemen attached to Government House, the state Commissioner for Urban Development, Dr. Reason Onyia and others for various offences during last Saturday’s presidential and National Assembly elections. In swift reaction, the Rivers State Governor, Nyesom Wike, has described allegations by the 6 Division, Nigerian Army that he tried to compromise the army to rid elections as mischievous and diversionary. He said the army should rather defend allegations by officials of the Independent National Electoral Commission (INEC) that the military carted away election materials from collation centres in the state. The governor also said the state would petition the International Criminal Court (ICC) and foreign missions on the atrocities committed by the army in the state during the last elections. The suspects who all alleged that the army was framing them, also included the member representing Ahoada West Constituency in the state House of Assembly, Hon. Opokri Wanaka, some ad hoc staff of the Independent National Electoral Commission (INEC) and some youths. When Onyia, Wanaka and other suspects were paraded before journalists, and screamed that they were innocent. They police officers paraded with some AK-47 riffles also protested that it was wrong for the army to parade them with riffles officially assigned to them as if they had illegally acquired them. They also stated that they were performing their official

duties when they were accosted by the soldiers and taken to the Port Harcourt Barracks, headquarters of 6 Division. The continued protest and screaming of the suspects marred the live television airing of the programme. Addressing journalists, the Deputy Director, Army Public Relations, Col. Aminu Iliyasu, said the army wanted to show the modest achievements of troops of 6 Division NA in close collaboration and synergy with all other security agencies in the Division’s Area of Responsibility (AOR) which covers, Akwa Ibom, Bayelsa, Delta and Rivers States. “Equally of grave concern is the daring attempt by the Governor of Rivers State Barr Nyesom Ezenwo Wike to compromise security agencies particularly troops of 6 Division NA with hefty financial inducements to help him in his illegitimate act of thwarting a free and fair electoral process to his favour while accusing the NA and its command hierarchy of bias daily. Apparently, Governor Wike must have underestimated the NA’s commitment to being professionally responsive in the discharge of our constitutional roles.” He recalled that the state Commissioner for Information and Communications, Emma Okah, had on February 15, issued a statement alleging that a very senior officer of the command was attempting to tamper with INEC sensitive materials at the CBN Port Harcourt premises. He said while the army refuted the allegation and demanded an apology from Okah within 72 hours or face legal action, the commissioner has “arrogantly refused to heed the advice”. Meanwhile, Wike, has described allegations by the 6 Division, Nigerian Army that he tried to compromise

Alleged N3.9bn Fraud: Late Badeh’s Firm to Open Defence March 4 Alex Enumah in Abuja Justice Okon Abang of a Federal High Court, Abuja yesterday adjourned till March 4, 2019 for the company of late Air Chief Marshal Alex Badeh, Iyalikam Nigeria Limited, to open its defence. Iyalikam Nigeria Limited was standing trial along with Badeh on an amended 14-count charge bordering on criminal breach of trust, abuse of office and money laundering to the tune of N3.9bn. The trial judge had at the last sitting of January 16, 2019 fixed February 26, 2019 for the continuation of the case, giving time for the prosecution and the defence to decide on the direction that they would want the Court to go with regards to the trial, following the death of Badeh on December 18, 2018. At the resumed trial, Samuel Zibiri, who held brief for S.T.

Ologunorisa (SAN), lead counsel for the company, informed the court that the first defendant died intestate, and so it fell on the second defendant to open the defence. He then requested for a “very short” adjournment to enable Iyalikam Nigeria Limited’s team to do the needful. A statement from the EFCC, said Prosecuting counsel, Rotimi Jacobs (SAN), did not raise any objections to the request for adjournment. Justice Abang, thereafter adjourned for the company to open its defence. It will be recalled that the EFCC had closed its case against the late Badeh and the company, on October 23, 2018 after calling 21 witnesses, thus necessitating the need for the defence to open its case, before the unfortunate incident of his death.

the army to rid elections as mischievous and diversionary. Addressing journalists in Port Harcourt yesterday in reaction to allegations, Wike described the allegation as false, malicious and diversionary. He said: “I did say to the international community that if there is violence in Rivers State they should hold the 6 Division, particularly the GOC responsible. I also did say they were after my life, even though they held a feeble defense which holds no water. “What the Public Relations

Officer of the 6 Division said is very unfortunate; it showed lack of respect for constituted authority. What he did today in a democracy is a coup to overthrow a constituted government. That is what played out today. “He said that I spoke to an army officer. I have every right. So many people were arrested that day. I had already before now said they wanted to arrest PDP leaders. On that particular day, Dr. Onyia called me that they were being arrested while escorting, as

Petitions ICC, EU, others

agents of the party, materials to Odiogu Community their village. They told the army that they were agents of the party but the soldiers did not listen. Then, the people said if you are not going to allow us, we will not allow the materials to move. “I said I wanted to speak to the officer but he refused. Later he sent me his number and I spoke to him and told him I was sending the people back to him so that they resolve the problem. Let anybody say where I said he should do

something else or that I will give so, so, thing. Let them show the tape 20 times. Let them say where I told the man: ‘do this for me and I will settle you or I will give you so, so, amount of money’. They have nothing to say.” He said the army should rather defend its involvement in disruption of electoral activities at collation centres in the state. “With all due respect, the allegations are very mischievous. It show how disloyal they are to constituted authority.”

SYMPATHY VISIT…

R-L: Governor of Osun State, Mr. Gboyega Oyetola; Supervisor for Tourism and Home Affairs, Dr. Adebisi Obawale; and Supervisor for Agriculture, Dr. Charles Akinola, during the inspection of the scene of the fire incident that razed part of Ifelodun Sawmill, at Alekunwodo, Osogbo…yesterday

Abaribe Leads APGA, APC in Abia North Senatorial Election The senator representing Abia South at the National Assembly, Enyinnaya Abaribe has so far recorded an early lead, coasting home to victory for unprecedented fourth term in the Senate. From the results announced yesterday, Abaribe was ahead of his closest rivals in the All Progressives Grand Alliance (APGA) and the All Progressives Congress (APC) with over 28,000 votes. The results were declared by the Independent National Electoral Commission (INEC) in Aba. However, the Returning Officer, Professor Ike

Nwachukwu, declared that election will still be held in a few polling units in Aba North and South on Saturday. Abaribe who was a deputy governor of Abia State had already won the entire 48 polling units before the cancellation, which was occasioned by fracas caused suspected APGA thugs who sensed that they had lost in the areas. The results of the cancelled poll had already been signed by all the agents of the political parties. Abaribe of the Peoples Democratic Party (PDP) was already leading with an

unassailable votes of 51,432 while his closest rival, Chief Chris Nkwota of APGA scored 23, 330 to come a distance second. Chief Mark Wabara of the APC polled 5,785 votes to come third. The outspoken lawmaker who is currently the Chairman, Senate Committee on Power, won in four of the six local government areas in Abia South senatorial district. It is believed to be impossible for the result to be upturned in the units where less than 20,000 voters have Permanent Voters Cards (PVCs). It could be recalled that less

than 15,000 voters from entire ABA South local government turned out to vote in the last Saturday elections. Already Abaribe won all the contentious units where the results were disrupted. Speaking after the declaration, Abaribe thanked the people of Abia South for the support and confidence reposed in him. “Your voting overwhelmingly for me is a clear testament that our modeat efforts in the National Assembly is being recognised and assure you that I will double my effort to give our people a quality and vibrant representation in the Senate,” he said.

Court Grants Motion to Serve Atiku Via Substituted Means on Nigerian Citizenship Suit A Federal High Court in Abuja yesterday granted a motion ex-parte to serve former Vice President , Atiku Abubakar, through substituted means in a suit filed against him, alleging that he was not a citizen of Nigeria. The suit with motion number FHA/ABJ/ CS/177/2019, which was filed on behalf of Incorporated

Trustee of Egalitarian Mission for Africa, was filed by Mr. Kayode Ajulo, a lawyer based in Abuja The suit is challenging the eligibility of Atiku to contest the 2019 presidential election on the ground that he was not a citizen of Nigeria but Cameroon. The suit has among the defendants the PDP, the

Independent National Electoral Commission (INEC) and the Attorney General of the Federation (AGF). Justice Iyang Ekwo granted the motion exparte following the prayer of the plaintiff counsel, Mr. Akinola Oladimeji, that all means to serve the defendant, the originating motion proved abortive.

He said the motion ex-parte before the court was brought in pursuant to Order 6, rule 5 of the Federal High Court. Oladimeji who said that the motion ex-parte was supported by 11 paragraphs affidavit and a written address, prayed the court to do justice to the suit. The judge, however, adjourned the suit until April 4, for mention.

WEDNESDAY FEBRUARY 27, 2019 ˾ T H I S D AY

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I’m Cross River APC Guber Candidate, Owan-Enoh Insists The governorship candidate of the All Progressives Congress (APC) in Cross River Stat, Senator John Owan-Enoh has urged the electorate in the State to ignore the antics of the Minister for Niger Delta Affairs, Pastor Usani Usani, as well as those of the State governor, Senator Ben Ayade and his cohort who are allegedly misinforming the people that the Independent National Electoral Commission (INEC) has disqualified all APC candidates in the state in the build-up to the general elections. According to Owan-Enoh, the duo of Usani and Ayade are gripped with fear over his growing popularity and acceptability across the State as APC governorship candidate

who is set to cause an upset in the rescheduled upcoming March 9 polls. A press statement signed by spokesman for his campaign organisation, Dan Amor, noted that the attention of OwanEnoh’s Campaign Organisation was aware of sponsored scroll message on some national television stations to the effect that an Appeal Court in Calabar has insisted that Pastor Usani U. Usani remained the APC candidate in the state. “There was no such thing as Usani being the APC candidate in Cross River State”. “The script is a fabrication by Usani and Governor Benedict Ayade to distract the APC in the State due to the looming presence of Owan

Enoh, the party’s one and only governorship candidate in Cross River State”. According to him, “Usani has never been declared a candidate in Cross River State as far as the current political transition is concerned. Usani is a spoiler employed by Ayade to distract the APC and its candidates in the state in order for him to have a smooth sail to a second term despite his obvious lack of performance and failure to deliver the dividends of democracy to the people.”

The statement further noted that “Usani knows that he is not a candidate in this year’s governorship election; that is why he has not resigned his appointment as a minister a few weeks to the election, despite the constitutional provision that any appointee running an election must resign his/ her appointment 30 days before the election.” He said Ayade of the PDP has co-opted Usani “to play the role of a spoiler so that if he (Ayade) wins, he would

nominate Usani for another ministerial appointment as well as position him to succeed him in 2023,” adding that “the substance of the case is very clear. “In the count down to the party’s primaries last year, the National Working Committee of the APC sent a delegation of seven members to conduct Direct Primaries for the party in Cross River State as stipulated in its constitution.” “Usani refused to participate in that exercise. Rather, he went

and formed a faction of the party which conducted an illegal primary and declared himself a winner. But the primary conducted by the National Working Committee of the party had already produced Owan-Enoh as the candidate of the party in Cross River State”. “Usani went and procured judgment from the Bwari Abuja High Court seeking the declaration of the Etim John faction to which he belongs as the authentic party exco in the state.

Fayemi: I Have Received over 100 Petitions on Chieftaincy Crises Victor Ogunje in Ado Ekiti In a bid to implement the Administration of Criminal Justice Reform in Ekiti State, the state Governor, Dr. Kayode Fayemi, has inaugurated an eight-man Advisory Council on Prerogative of Mercy, saying he had received over 100 petitions that border on chieftaincy issues in the last four months he assumed office. The governor equally inaugurated a seven-man Chieftaincy Review Commission to address the plethora of petitions, complaints and requests on chieftaincy matters in the state. Inaugurating the members of the two committees in Ado Ekiti yesterday, Fayemi said the committees were critical to good governance in the state, adding that that informed the careful selection of members. While speaking on

the Chieftaincy Review Commission, the governor said his government had in less than two months after inauguration, received no fewer than 100 petitions arising from the outcome of the report of the Justice Oyewole Chieftaincy Commission. He added that the commission became imperative in order to have a more comprehensive approach to addressing the agitations and requests. “We received no fewer than 100 petitions, complaints and requests from many communities, and I felt it wasn’t proper for us to begin to address these chieftaincy complaints on Enugu State Governor and governorship candidate of the Peoples Democratic Party (PDP) Hon. Ifeanyi Ugwuanyi (right), displaying the case-by-case basis, and it will be PDP logo during the party’s campaign at Obinagu Uwani, Akpugo in Nkanu West Local Government Area, ahead of March 9 governorship helpful to us to have a much elections in the state…yesterday more comprehensive approach what became the source of complaints by many of them is the outcome of the report of Justice Oyewole Chieftaincy could conduct an election senatorial district, Dr. Charles amended. Commission. Udora Orizu in Abuja Anumudu, announced the The lawmaker alleged that without the issuance of form Contrary to the reported result on Monday at the Abia the returning officer never EC40G, a form used to capture victory of a former governor North collation centre in Ohafia, returned Kalu as duly elected, cancelled votes and places of Abia State, Orji Uzor Kalu, in revealing that Kalu polled 30,203 adding that he only announced where there was no voting. “In Victor Awani; a retired member Saturday’s National Assembly votes to defeat his closest rival figures substantially different the circumstances of the above, of the general management election, his opponent and Ohuabunwa, who garnered from results collated at the we demand that the Resident various polling units across Electoral Commissioner (REC), of Nexim Bank and Joint Peoples Democratic Party 20,801 votes. Abia North. Abia State should direct the But Ohuabunwa, at a news (PDP) candidate, Senator Mao Matriculation Board (JAMB), According to him, “INEC returning officer of the Abia Ohuabunwa, representing Abia conference in Abuja alleged that Mrs. Evelyn Rewane-Fabyan; North senatorial district has Kalu, the candidate of the All operatives in their haste to North senatorial election to Mrs. Rosaline Rewane-Dafinone insisted that the Independent Progressives Congress (APC) arrive at a pre-determined make the requisite declaration who retired from the NNPC; National Electoral Commission and his alleged co-travellers in conclusion manipulated the in accordance with the dictates an economist, Mr. Bismarck (INEC) was yet to make any INEC only declared himself electoral process to the shock of of Rule 17E(e) of the guidelines Rewane; a director of the official return for Abia North winner with results that never all well-meaning patriots who for the conduct of elections Nigerian Institute of International senatorial seat. emanated from the polling units believe in democracy. In this issued by INEC by cancelling Affairs; Mr. Justin Rewane; a The returning officer for the contrary to the electoral act as respect, it is tragic that INEC the elections completely. senior Vice President at Wells Fargo Bank in Maryland, United States, Ms. Carolyn Rewane; and a Judge in the State of New York As part of its commitment to ways to improve intra-African international investors, experts access to knowledge and in the United States, Mrs. Toyin the development of Africa’s trade and investments. and high-level policy makers, opportunities, there has never Damola Akinrolabu. business landscape, leading Globacom is the 2019 apex and features discussions that been a better time for women telecommunications company, Diamond partner of the event mobilise African businesses to look around and see other Globacom, has announced its and the telecoms company said to champion private sector- women who influence them. partnership with the Jeune this is part of its efforts to led growth while building According to the organisers, Afrique Media Group, and support initiatives that nurture sustainable organisations. the Africa CEO Forum will Rainbow Unlimited, on the Africa’s economic potential. The 2019 Forum will be “unite its 2000 participants 2019 Africa CEO Forum, a “Africa is rich in business held in Kigali, Rwanda, from around a transformation gathering of the continent’s diversity and, when properly March 25 to 26. Themed ‘Open agenda… What priorities top business leaders. connected, African businesses Africa: from continental treaties must be identified to boost At a meeting with the can make greater contributions to business realities’, it will the level of intra-African forum organisers in January to economic expansion and feature over 40 panels, private- trade and investment? What 2019, Globacom’s Executive human development,” the public workshops and case must a united Africa do to Vice Chairman (EVC), Mrs. EVC stated. studies. better protect its interests Bella Disu, said Globacom The foremost annual Disu, will also participate in and industries? How can was pleased to partner international meeting for this year’s forum and chair the we mobilise the private the organisers to provide executives and investors in Women in Business Initiative, sector around cross-border a networking platform for Africa brings together Chief added that in today’s global infrastructure and logistical decision makers to identify Executive Officers (CEOs), world and with tech-enabled projects?” Mrs. Rewane

GRASSROOTS ENGAGEMENT…

Ohuabunwa Kicks as Kalu Claims Victory

Esther Jemine Rewane Passes on The Rewane and Awani families of Warri, Delta State, have announced the peaceful transition to the saints of their wife, daughter and mother, Mrs. Esther Jemine Rewane. at the ripe age of 97 on February 20, 2019. Mrs. Rewane was the wife of Chief Ogbemi Newe Rewane, the late Ologbosere of Warri. She was the daughter of Mr. Obuku Eguojaghan Afini Awani, a retired civil servant in the Inland Waterways Department of the Federal Ministry of Transport. The late Mrs. Rewane, an alumni of Queens College in Lagos and Saint Monica College in Onitsha, was fluent in Yoruba, Ibo, Urhobo and Itsekiri. She was an entrepreneur running a medium-scale business in the Warri metropolis over the decades. She is survived by children, many grand and great grandchildren, brothers, sisters, cousins, nephews and nieces, among whom are a former Vice Chancellor, University of Benin, Professor Grace Alele Williams; a retired general manager of AGIP Nigeria Plc in Port Harcourt, Mr.

Glo Partners Africa CEO Forum on Continent’s Economic Growth

T H I S D AY Ëž FEBRUARY 27, 2019

ĂœĂ™Ă&#x;Ăš ĂšĂ™ĂœĂžĂ? ĂŽĂ“ĂžĂ™Ăœ Duro Ikhazuagbe Ă—Ă‹Ă“Ă– duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Iwobiâ€™s Form Giving Barcelona Headache over Suarez Femi Solaja ĂĄĂ“ĂžĂ’ Ă‹Ă‘Ă?Ă˜Ă?ĂŁ ĂœĂ?ĂšĂ™ĂœĂž There are strong indications that the hope of Spanish giants, FC Barcelona to push for a permanent move for Denis Suarez at Arsenal may not work out after all following the fine form of Super Eagles forward, Alex Iwobi. Suarez is on loan at Arsenal but the Catalan club is believed to be pressing for a permanent move for the midfielder in summer so that earning from the deal can be used to bring in quality legs to replace Barcelonaâ€™s ageing squad. But Iwobi has remained consistently in fine form since the Nigerian was promoted from the feeder team to the senior squad in the final years of Arsene Wenger at the North London club. Even the manager who took over from Wenger, Unai Emery has not been disappointed in the quality Iwobi has been adding to the Gunners output weekly.

Reports from Spain indicate that Barcelona are willing to push for permanent sale to make funds available to fortify the squad with players to understudy ageing Luis Suarez and another backup for Jordi Alba. According to Marca, the Catalans are already looking toward reaping good money from the sales of Denis Suarez and Andre Gomes who is also on loan at Everton in the Premiership. Denis Suarez who extended his stay at Barcelona until 2021 is on loan for the remaining part of the current, 2018/2019 season at Arsenal. The Gunners are paying the playerâ€™s wages. The loan contract also includes a buyout clause for the London-based club. A loan fee is reported to be in the region of ÂŁ2.1million. The Gunners would have to pay around ÂŁ20m if they want to sign Denis on a permanent deal. Despite the Spaniard finding it hard to get into the starting XI at Arsenal, Barcelona is

still expecting the Gunners to enforce the clause and make the transfer permanent at the end of the season. Denis Suarez has only played an hour and six minutes of football since he joined the North London team Gomez on the other hand has settled down with at Everton and his deal is looking good to translate into a permanent deal in summer. According to James Benge, a senior football reporter with Football : â€œ Alex Iwobi trained with the first team today (Tuesday) after suffering right ankle injury against Southampton and that will probably change on Wednesday (today) because he (Iwobi) and Henrikh Mkhitaryan arenâ€™t making it easy for the loanee to earn a permanent switch from Barcelona.â€? Failure to displace either of the duo will mean the player will have to return to Spain which is not a good omen for the team aiming to offload dead weight players from its payroll.

Iwobi

NPFL: Mfon Udoh Reveals All I â€˜ll Give My Life to Make Supporters Proud of Leicester City Eyes on Eunisell Boot Award r#SFOEB 3PEHFST 1MFEHFT BT IF UBLFT PWFS BU -FJDFTUFS $JUZ Brendan Rodgers has been appointed as the new manager of Leicester City, ending a trophyladen two-and-a-half years at Scottish Premiership giants Celtic. The Northern Irishman returns for his third stint in the Premier League, following spells with Swansea and Liverpool, the latter of which ended in October 2015. At Celtic, Rodgers won two straight Premiership titles and leaves the club eight points clear of rivals Rangers at the summit this season. Rodgers said: â€˜Iâ€™m very privileged and honoured to be here as Leicester City manager and Iâ€™ll give my life to make the supporters proud of their club. â€˜Together, weâ€™ll be stronger and Iâ€™m looking forward to working with the players, staff and supporters to make the right steps forward.â€™ Leicester sacked Claude Puel on Sunday, less than 24 hours after a disappointing 4-1 defeat at the hands of Crystal Palace. The Foxes have now lost four home games in a row and have dropped down the Premier League table. They are without a win since New Yearâ€™s Day and

Brenda Rodgers now Leicester City new coach

will hope the appointment of Rodgers can arrest the slump. In the latter stages of Puelâ€™s reign at the King Power Stadium, the Foxes were dumped out of the FA Cup at the hands of League Two Newport County, before suffering defeats at the hands of Southampton, Wolves and Palace. Leicester City Vice-chairman, Aiyawatt Srivaddhanaprabha, said: â€œIâ€™m absolutely delighted to bring a manager of Brendanâ€™s calibre to Leicester City and I look forward to seeing what he, our talented, young squad and our dedicated, skilled team of staff

can achieve together. â€œAs projects, including the development of our new training ground and the proposed expansion of King Power Stadium continue to take shape, and as a young squad of great potential begins to mature, Brendan and his colleagues arrive at an exciting time for Leicester City. â€œWeâ€™re continuing to grow as a club and I am anticipating that Brendanâ€™s coaching methods, knowledge and experience can enhance our journey,â€? he concluded.

Opeyori, Olofua Win Menâ€™s Doubles at Uganda Badminton International Nigeriaâ€™s pair of Anu Opeyori and Godwin Olofua won the menâ€™s doubles event at the Uganda International which ended at the weekend. The Nigerians beat the pair of Siddharth from India and Ahmed Sarah from Egypt 2-0 (21-18, 21-11) to win the first prize. In the singles event, Opeyori lost to Icelandâ€™s Kari Gunnarsson 2-1 (21-14, 15-21, 21-18) in the quarter finals, while Dorcas

Adesokan also lost at the same stage to Jordanâ€™s Domou Amro 2-0 (21-17, 21-17). The players left Uganda for Kenya yesterday for the Kenya International scheduled to start on Thursday. President of the Badminton Federation of Nigeria (BFN), Francis Orbih expressed satisfaction with the playersâ€™ performance, urging them to improve on their form. â€œWe as a board are satisfied

with the players performance even though there is much room for improvement. We have more Europeans coming to take part in the African circuit this year because of the Olympics next year. â€œThe competition will get tougher so we also need to up our game. We are proud of our players and will continue to do everything to give them the needed support,â€? Orbih added.

Nigerian Professional Football League (NPFL) record scorer in a season, Mfon Udoh, has revealed there is heightened competition amongst players for the prestigious Eunisell Boot Award to be presented to the highest goal scorer, at the end of the 2019 season. Eunisell instituted the award in 2018, with each goal worth N200,000 â€œThe financial incentive attached to Eunisell Boot is a fortune. Every striker in the NPFL is eyeing the money. In fact, it has made the striking role more competitive,â€? Udoh, who plays for Akwa United stated yesterday.

Eunisell Boot

In addition, he said: â€œThe Eunisell Boot has improved

performance in the NPFL, especially for strikers. Players and teams are focused on winning.â€? The Nigerian International has rediscovered his midas touch since returning to Akwa United and tops the race for the Eunisell Boot with six goals so far. Back in 2014, he entered the history books as the first player to score a record 23 goals in a season. Junior Lokosa, now with Esperance Sportive, in Tunisia, was the Eunisell Boot inaugural winner after scoring 19 goals in 2018 for Kano Pillars.

Red-hot Ofoedu Wants Super Eagles Call Up The recent pronouncement by the Super Eagles Coach Gernot Rohr that Nigerian players doing well in their various clubs stand a chance of being invited for the upcoming games against Seychelles and Egypt has been applauded across board. Israel-based forward, Chikeluba Ofoedu who has nine goals and seven assists in 17 games so far this season for Israeli giants, Maccabi Tel Aviv is one of those believed to be on the radar of the Franco-German who is keen to bolster the Super Eaglesâ€™ squad ahead of AFCON 2019 in Egypt. While Ofoedu agrees that he has already done enough to at least attract the attention of the

national team handlers, he was quick to state that he would not rest on his oars until he achieves his long-time ambition of playing for the National team. â€œI believe I have done a lot to attract a call to the national team and I trust I will not disappoint if given a first chance to impress,â€? Chico as he is fondly called by fans stated. â€œI want to emulate big players like Vincent Enyeama and Nosa IgiebĂ´r who both played for Maccabi Tel Aviv and went on to represent Nigeria,â€? the pacy and skillful forward added. After his exploits in Turkey, Ofoedu is fast becoming a household name with Maccabi Tel Aviv where he

is enjoying a fantastic season but the former Rangers International striker remains focused on wining the league shield with his team this year. â€œItâ€™s been a very interesting season so far but we have not won the title yet despite our 20 points lead, there is still top 6 playoffs after the regular season but our Spirits are high in expectationsâ€? the 26 year old noted. Rohr is currently making the list of players to be invited for the dead rubber AFCON 2019 Match-day 6 and final qualifier against Seychelles on March 22 and an international friendly against Egypt four days later also in Asaba.

Aluko Switches to Chinese League on Loan Reading forward Sone Aluko has moved to Chinese Super League side Beijing Renhe on loan for the rest of 2019. The 30-year-old has scored one goal in 20 matches for

the Royals this season, and made 60 appearances since his ÂŁ7.5m transfer from Fulham in 2017.Nigeria international Aluko has been a sporadic starter since Jose

Gomesâ€™ arrival as manager in December. His new club, who finished eighth in the Super League last season is to begin the new campaign on March 1.

Wednesday February 27, 2019

UT H

& RE A S O

Price: N250

MISSILE PDP to APC

“Officials of both President Buhari’s government and APC, working with INEC officers, have tried to alter the course of history and disenfranchise our people through the cancellation and manipulation of figures for results already announced at polling units, nationwide, in areas where our party, the PDP, had commanding votes; this must now be resisted by every well-meaning Nigerian.” – PDP rejecting the results of last Saturday’s presidential and National Assembly elections being announced by INEC.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Making Nigeria the Winner W ith the declaration this morning that President Muhammadu Buhari is the winner of the 2019 presidential election, there is the urgent need to plead with the main protagonists in this critical situation to make Nigeria the real winner and not the tragic loser. Declaring Buhari as the winner of the election may be the easier part; but the hard part could be the act of political forces working together to make sure that the nation does not lose at the end. Nigeria will be the winner if justice is seen to be done with players acting as democrats and lessons are drawn from the observed faults in the process for the purpose of the future. How to summon the national spirit to do this is the problematic of the moment. It is at once in the interest of the people and that of the ruling class that with the declaration made by the Independent National Electoral Commission (INEC)’s chairman Professor Mahmood Yakubu, the nation should be the winner because the issues already thrown up would transcend the verdict. The issues are fundamentally those of political underdevelopment. To tackle them after the conclusion of the elections, a lot of work needs to be done at the post-electoral period by all political forces and relevant non-partisan institutions. For instance, rigorous efforts should made to halt the dragging of the army, police and other security agents into the acrimonious arena of partisan politics. Their professionalism imbued with impartiality is a condition for the stability of the system. This should ordinarily be obvious to all political players. As they say, although the conduct of election is the job of INEC, yet other institutions must play their roles creditably to make INEC accomplish its task. So, it would not be the job of INEC alone. It is basic that a peaceful atmosphere must be maintained to tackle the issues. After all, it was in this spirit that peace accords were signed by the major protagonists in a patriotic exercise organised by a national group led former Head of State General Abdulsalami Abubakar. In particular, the symbolism of the warm hand shakes between President Muhammadu Buhari of the APC and Alhaji Atiku Abubakar of the PDP on one occasion of signing the accord was assumed to resonate with clear messages of peace to their supporters. However, not a few must have observed that in contrast, the killings reported in the last weekend election showed that the message of peace has not sunk deep enough to the political actors on the field. Averting a post-electoral crisis is, therefore, an imperative in the circumstance. That is why those who may be dissatisfied with the outcomes of the last Saturday’s presidential and National Assembly elections should explore the legal option to seek redress. This counsel has been widely offered to all the political competitors. On this note, it is somewhat relieving that legal teams are reportedly being assembled by political parties in anticipation of this peaceful option. Well, as an aside, it is good news for lawyers who appear to have specialised in handling election cases at the tribunal. A peaceful regime is also important even for the conclusion of the process with the next week’s governorship and State House of Assembly’s elections.

INEC Chairman, Prof. Mahmood Yakubu The focus seems to be on the presidential election because of the enormous powers and responsibilities of the President; but the state elections are also very important because of the crucial governance responsibilities of the governors and the state legislators. Almost 48% of the revenues accruing to the federation account are allocated to the states and local governments. The state governments practically control the whole of the allocations and the internally generated revenues in most states. Even pending the restructuring of the federation as some patriots advocate, if governance is conducted in a more competent manner at the state government levels, a lot of improvement could be brought to the quality of the lives of the people based on the existing constitutional powers. For instance, the choice of the members of the state legislators is central to the quality of governance at that tier of government. It is not just enough to elect an “action governor,” his efforts should be complemented with the election of a competent and well-equipped

Nigeria will be the winner if justice is seen to be done with players acting as democrats and lessons are drawn from the observed faults in the process for the purpose of the future. How to summon the national spirit to do this is the problematic of the moment

assembly of lawmakers who could scrutinise his budgets and insist on fiscal responsibility. Since 1999, the national parliament has been variously reported as having disputes with the executive, but hardly do state legislators query unconstitutional steps of the governors some of whom have carried on as local emperors. While the politicians go the tribunal to dispute the counting of votes, law enforcement agents must ensure that the bodies of those killed in the course of electoral violence are duly counted. Every life should be accounted for in the tragedies unfolding in different parts of the country. In other words, those who kill in the name of elections should be duly apprehended and prosecuted. If those who kill in 2019 are not punished like those who did in 2007, 2011 or 2015, some criminals could be emboldened to kill again in 2023. For instance thugs who later danced with it round a town in Rivers State allegedly beheaded a party official. In another incident a soldier was among six persons killed. A lady, an ad-hoc member of staff of INEC, was reportedly hit by a stray bullet and died. This is simply an unacceptable trend in any social order based on the rule of law. The gory stories of bloodletting should not be a normal part of elections. The normal should be that those voters, candidates and the umpire see elections as periodic celebration of democracy and not warfare. The society should not be turned into a temporary jungle in the season of elections. Bloodletting diminishes the humanity and hence the legitimacy of the electoral process regardless of what the court says is the verdict. The society is ultimately the loser when men and women are killed in the process of voting. Politicians across the spectrum should be concerned about this destructive feature of their game. Apart from killings, all cases of electoral offence should be investigated and the culprits are punished as deterrence to such crimes in future elections. Meanwhile, both the APC and the PDP have made allegations of rigging during the last Saturday elections in different states. Punishing the culprits according the law in proven cases of electoral crimes would help a great deal to clean up the system. Rigging and killings have become features of elections because these crimes are committed with impunity. An end must, therefore be put to this reign of impunity. The recommendation for the establishment of a tribunal for electoral offences should be implemented. All the allegations against politicians and their agents as well INEC staff and law enforcement and security personnel ought to be handled by such a tribunal in order not to over-burden the INEC which already has a sundry cases in court arising even from party primaries. The establishment of the tribunal would, of course, be an element of the wide-ranging electoral reforms being advocated by many patriots. The room for improvement in the process is a very wide one. Hence, the reforms should be based squarely on the implementations of panel reports already accepted by government and the signing of the electoral bill passed by the National Assembly. It is also clear that further application of technology would make the process more efficient. The quality of the democratic content of the

process should also be a subject of interrogation. It is expected that experts would later examine some of the hidden messages in the current process. With over 11 million registered voters not bothering to collect their Permanent Voters’ Card (PVCs) and barely 20% per cent turn out of voters in some places on the election day, the degree of participation is far from being satisfactory. This is a huge deficit in the democratic process. After all, for liberal democracy to be meaningfully representative, it has to be sufficiently participatory especially in the process of election. Parties should not be formed just for the sole purpose of nominating candidates for elections. Political mobilisation is another crucial function of political parties. It is the duty of parties to raise the political education of their members. When parties formed few months to the election become victorious in elections, it is often implicit in their stories that the parties must have embarked on massive mobilisation and political education of their members, supporters and voters at large. So the dozens of parties whose names appear on the ballot paper should not proceed on political hibernation soon after the elections next week. They should continuously embark on strengthening their organisational capacities so that they are able perform the other important functions of political parties in a liberal democracy. Above all, politicians should be reminded that election is not all there is to liberal democracy. Buhari as the winner, Atiku as main challenger and other candidates should ponder the purpose of election in looking into the future of Nigeria. Democracy should not be reduced to a periodic hollow ritual of voters queuing to put papers into ballot boxes. In fact, election is only a means to an end: the delivery of governance to improve the quality of lives of the people. It is an important way of getting the people interested in the democratic process. This point is often emphasised by social democrats that are active in liberal democratic settings. The content of democracy should include social justice. This should could be concretised, for instance, by promoting social economic rights in policy. In the current Nigerian context there is hardly any sharp ideological divide reflected in the manifestoes of the main parties. It is because of the lack of ideological boundaries that politicians migrate back and forth among the political parties. Some politicians who contested on the APC platform in this year’s election were PDP candidates in 2015. Nothing stops the same politicians from going back to seek the PDP tickets in 2023. Maybe an unintended benefit of this political culture to the system is that whichever political party comes to power should not have any difficulty in continuing with programmes of the previous government. To achieve this ultimate purpose of elections, the political elite will have to develop a culture of quickly overcoming bitterness in resolving disputes arising from elections and forge a consensus for planning for Nigeria’s progress and development based on an organising principle. Suitable elements available in the system should be employed to make the national plans work. When elections have such outcomes, it is not only the candidate with the highest number of votes with the widest spread that would be the winner. Nigeria will be the ultimate winner.

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