MONDAY 4TH MARCH 2019

Six Days After, INEC Yet to Publish Presidential, N’Assembly Results Details unavailable on website, state offices Iyobosa Uwugiaren and Akinwale Adedayo in Abuja Six days after the declaration of the presidential and National Assembly elections results in Abuja and at the senatorial

and federal constituencies in the states respectively, the Independent National Electoral Commission (INEC) is yet to provide details of the outcome of the polls either on its website or at its state

offices.

The Chairman of INEC, Prof. Mahmood Yakubu, had last Monday declared open the National Collation Center at the International Conference Center (ICC), Abuja, where

the results of the presidential election from the 36 states of the federation and the Federal Capital Territory (FCT) were collated.

He eventually made a declaration in the early hours

of Wednesday, returning President Muhammadu Buhari of the All Progressives Congress (APC) as the winner of the contest that had former vice president, Alhaji Atiku Abubakar, of the Peoples

Democratic Party (PDP) as the main challenger.

Yakubu said Buhari prevailed with 15,191,847 votes to Atiku’s 11,262,978, bringing Continued on page 8

Service Chiefs Jostle for CDS Position... Page 8 Monday 4 March, 2019 Vol 24. No 8730. Price: N250

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State Gov, Assembly Candidates Move to Dump Smart Card Reader Protest INEC's double standard, mobilise soldiers, police and thugs for final onslaught Iyobosa Uwugiaren and Akinwale Adedayo in Abuja As the nation prepares for next Saturday’s state governorship and Houses of Assembly elections, a major crisis is brewing as some candidates for the contests, particularly from the Southern part of the country, have vowed to stop the use of Smart Card Reader (SCR) during the polls.

THISDAY learnt that the candidates are miffed by what they call the selective application of Independent National Electoral Commission’s (INEC) regulation on the use of the electronic device that was introduced in 2015 to make the accreditation process more transparent.

However, there have been allegations that the device is prone to manipulation even as it is further alleged that Continued on page 10

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L-R: CEO, UBA UK, Mr. Patrick Gutmann; GMD/CEO, UBA Plc, Mr. Kennedy Uzoka; President, Dangote Group, Alhaji Aliko Dangote; Group Chairman, UBA Plc, Mr. Tony O. Elumelu; President, Afreximbank, Dr. Benedict Oramah; and CEO, UBA Africa, Mr. Victor Osadolor, at the launch of UBA UK in London... recently

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MONDAY, ÍźË&#x153; ͺ͸͚Π˞ T H I S D AY

PAGE EIGHT

Service Chiefs Jostle for CDS Position Buratai, Abubakar in tight bid Senior officers lobby to replace them Kingsley Nwezeh in Abuja Military service chiefs have intensified the lobby to replace the Chief of Defence Staff (CDS), General Gabriel Olonisakin.

Military sources said Chief of Army Staff, Lt. General Tukur Buratai, and Chief of Air Staff, Air Marshal Sadique Abubakar, have stepped up subterranean moves, in their different capacities, to get President Muhammadu Buhari to name either of them as the next CDS. In the same vein, senior officers from the rank of Major Generals or its equivalent in the Air Force and Navy have also commenced secret campaigns and lobby to be appointed as new service chiefs.

While the lobby is going on, terrorist organisation, the Islamic State West Africa

(ISWAP) announced at the weekend that it killed 10 soldiers near Maiduguri, a claim the Nigerian Army disputed.

The calculation of the lobbyists is that having served out their tenures, which was further extended, the president would most likely retire the service chiefs as he begins his second term in office by May 29.

THISDAY learnt that Buratai and Abubakar are hinging their campaign to succeed Olonishakin on two planks.

One is that they both hail from the troubled North-east, which has been a hot bed of the war against terrorism in the past 10 years.

While Buratai is from Borno State, Abubakar is from Bauchi State. Both see themselves as having a grasp of the security situation at hand especially the

North-east and would be able to function more effectively as joint services chief.

The second plank is that going by the tradition of previous administrations, the Chief of Defence Staff is usually picked from retiring service chiefs in order to tap from their managerial experience.

For instance, under the Olusegun Obasanjo presidency, a former Chief of Naval Staff, Admiral Ibrahim Ogohi, was elevated to the office of the CDS when his peers retired.

The trend continued with General Alexander Ogomudia, who moved up as CDS from his former position as Chief of Army Staff.

The late former CDS, Air Chief Marshal Alex Barde, followed the same pattern after he finished as Chief of Air Staff.

However, the present CDSâ&#x20AC;&#x2122;s

appointment did not follow the same pattern as he was not a service chief before he was named to the top job.

Prior to his appointment as Chief of Defence Staff, General Olonisakin was Commander, Training and Doctrine Command (TRADOC), Nigerian Army and Commander, Nigerian Army Corps of Signals.

A source told THISDAY: â&#x20AC;&#x153;The lobby is in full gear. But the lobby for the CDS did not start today. It started before their tenure was extended when they thought they would be exiting the service but the president extended their tenure.

The lobbyists have employed the services of traditional rulers and top presidency officials. â&#x20AC;&#x153;The same goes for senior officers from the rank of major generals or their equivalent in the Air Force and Navy seeking

to replace the service chiefs other than the CDS. â&#x20AC;&#x153;The truth is that all the positions are up for grabs. The president did not follow the so-called tradition of naming the next CDS from the retiring service chiefs. The Chief of Naval Staff, Vice Admiral Ibok-Eteh Ibas, who is not featuring prominently may even be given the slot. â&#x20AC;&#x153;The president has his way of sorting things out. He is starting a second term and he may decide to start with an entirely new team.â&#x20AC;?

Meanwhile, the Islamic State said at the weekend that it killed 10 Nigerian soldiers in an attack on Thursday in the countryâ&#x20AC;&#x2122;s north-eastern Borno State, but a Nigerian Army spokesman said â&#x20AC;&#x153;no such incident was recorded.â&#x20AC;?

In a statement issued through its news agency Amaq, Islamic

State claimed responsibility for the attack on a village it referred to as Tdmari, near Maiduguri town. It said the attack happened two days ago.

A Nigerian Army spokesman insisted: â&#x20AC;&#x153;The situation in the North-east has been calm for some time now. The Nigerian Army is consolidating its efforts and successes are being achieved.â&#x20AC;?

Islamic State in West Africa (ISWA), which split from Islamist group Boko Haram in 2016, has carried out a number of attacks in North-east of Nigeria in the last few months.

Borno is the state worst hit by the Islamist insurgents whose attacks on Nigerian military bases in the last few months made security a key issue in a just concluded presidential election won by the incumbent, Buhari.

INEC: Amosun, Okorocha Remain Senators-elect Says suspension is party affair Insists only tribunal can stop issuance of certificate of return Adedayo Akinwale in Abuja The Independent National Electoral Commission (INEC) has said the suspension of Governors Ibikunle Amosun (Ogun State) and Rochas Okorocha (Imo State) by the All Progressives Congress (APC) has no bearing on their fresh status as senators-elect, saying the disciplinary action was an internal party affair.

For the avoidance of doubt, said the commission, only the election petition tribunal could restrain it from issuing a certificate of return to anybody declared by it as winner of an electoral contest under the Electoral Act 2010 as altered.

The electoral commissionâ&#x20AC;&#x2122;s National Commissioner and Chairman of Voter Education and Publicity, Mr. Festus Okoye, made these clarifications yesterday in Abuja while responding to enquiries from THISDAY over the suspension and possible expulsion of the governors by their party as well as the court order former governor of Akwa Ibom State, Senator Godswill Akpabio, secured, restraining INEC from issuing certificate of return to his opponent that defeated him in the Akwa Ibom North-west senatorial district, Mr. Chris Ekpeyong.

He said it was a common knowledge that whenever the country was within the orbit of post-election challenges and litigation, no new matter

could be filed or adjudicated upon by the various courts arising from the conduct of the presidential and National Assembly elections.

Justice Valentine Ashi of a High Court of the Federal Capital Territory (FCT), Abuja, had on Friday restrained INEC from issuing certificate of return to the Peoples Democratic Partyâ&#x20AC;&#x2122;s (PDP) candidate, Ekpeyong.

Justice Ashi gave the restraining order in a short ruling on an ex-parte motion filed by the All Progressives Congress (APC) candidate, Akpabio.

Akpabio in the suit No: FCT/HC/M/2680/19 and filed on February 28 prayed the court for, â&#x20AC;&#x153;an order granting leave to him to apply for a judicial review for the issuance of a writ of Mandamus, prohibition, injunction and other declarative reliefs sought against the respondent (INEC).â&#x20AC;?

He also prayed the court to direct the respondent to â&#x20AC;&#x153;particularly stay further action in respect of issuance of certificate of return to any candidate in respect of the seat of senator representing Akwa Ibom North-west senatorial district on the account of election held on February 23, 2019.â&#x20AC;?

But in a short ruling, Justice Ashi held that the case of Akpabio is meritorious and that there is need to keep things in status quo.

â&#x20AC;&#x153;Leave is hereby granted to the applicant to apply for judicial review for the issuance of a writ of mandamus, prohibition, injunction and other declaratory reliefs against the respondent. â&#x20AC;&#x153;Leave granted shall operate as stay of further action of the respondent and particularly in respect of issuance of Certificate of Return to any candidate in respect of the seat as sought by the applicant,â&#x20AC;?

Justice Ashi held.

However, Okoye said he was not aware the commission has been restrained from issuing certificate of return to any candidate.

He stated: â&#x20AC;&#x153;I am not aware that the commission has been served with any order relating to the issuance of certificate of return to any of the candidates returned as duly elected and arising from the conduct of the February 23, 2019 presidential and National Assembly elections. â&#x20AC;&#x153;I am also not aware that the commission has been restrained from issuing certificate of return to any of the candidates returned as having been elected during the February 23 elections.â&#x20AC;?

Okoye explained that the commission is not a court of law or election tribunal, adding that the electoral body was only empowered to issue a certificate of return to candidates that were validly elected in the presidential and National Assembly Elections.

He explained further that when the commission is served with a court order, it will deliberate on it as a commission, satisfy itself that the order is from a properly constituted court of law and relates to the issues within its statutory and constitutional mandate.

According to him, the commission does not sit on appeal over orders from the various courts and does not pick and choose which order to obey and which one not to obey.

Okoye added, â&#x20AC;&#x153;However, it is a matter of common knowledge that the country is now within the orbit of post-election challenges and litigation and no new matter can be filed or adjudicated upon by the various courts arising from the conduct of the Presidential and National Assembly elections.â&#x20AC;?

The national commissioner stressed that the constitution of the Federal Republic of Nigeria, 1999 (Fourth Alteration, No. 21) Act, 2017 gives the High Courts of the states, the Federal High Court and the High Court of the Federal Capital Territory, Abuja the exclusive right and jurisdiction to hear and determine matter with pre-election flavour.

He noted that the courts named are in the Alteration Act and empowered to handle matters relating to the conduct of party primaries, suits challenging the actions,

decisions or activities of the commission in respect of the participation of political parties in elections or complaints in relation to the nomination or selection of candidates to participate in elections or actions or decisions of the commission disqualifying the candidates of a party.

Okoye stated: â&#x20AC;&#x153;The moment elections are conducted, all matters relating to whether anyone has been validly elected as a member of the National Assembly or whether a certificate of return was validly issued to a candidate reverts to the National and State Houses of Assembly Election Tribunals established pursuant to section 285 of the Constitution of the Federal Republic of Nigeria. â&#x20AC;&#x153;The tribunals so established shall to the exclusion of any other court or tribunal have original and exclusive jurisdiction to determine matters and issues arising from the conduct of elections. These tribunals have been established and inaugurated and the registries of the tribunals are in place. â&#x20AC;&#x153;Furthermore, section 75(1) of the Electoral Act, 2010(as amended) provides that a sealed Certificate of Return at an election in the prescribed form shall be issued within seven days to every candidate who has won an election under the Act. â&#x20AC;&#x153;The proviso to the said section further provides that

SIX DAYS AFTER, INEC YET TO PUBLISH PRESIDENTIAL, Nâ&#x20AC;&#x2122;ASSEMBLY RESULTS to a close days of anxiety over the possible outcome of the contest many had thought would be close. â&#x20AC;&#x153;President Muhammadu Buhari having satisfied the requirement of the law, and scored the highest number of votes is hereby declared the winner,â&#x20AC;? Yakubu said.

Later in the day, the certificates of return were presented to Buhari and Vice President Yemi Osinbajo at a ceremony held at the ICC, Abuja.

And as required by law, the

results of the senatorial and House of Representatives polls were announced by the returning officers at those levels.

However, till date the details of the results from wards, local governments, federal constituencies, senatorial districts and states are yet to be published either at the state or national headquarters of INEC. As the outcome of the election became controversial, particularly with Atiku and the PDP threatening legal challenge to it, many had hoped that the

publication of the details of the results would enable discerning members of the public to come to more dispassionate conclusions on the results filed

by INEC. THISDAY correspondentsâ&#x20AC;&#x2122; enquiries at the commissionâ&#x20AC;&#x2122;s state offices throughout the federation and Abuja met a brick wall with officials saying the results were still being authenticated even when returns had been made and winners declared. â&#x20AC;&#x153;What is happening is quite unbelievable. How could INEC

not give details of results it declared days ago? Where are the results?,â&#x20AC;? a curious analyst, who craved anonymity, asked THISDAY last night.

Another observer, who also did not want to be mentioned, said he was surprised that given the enthusiasm with which the commission released the certificate of return to the president, it would have been much more forthcoming with details of the results, particularly as many people are sceptical about some of the figures declared.

â&#x20AC;&#x153;I think something is fishy.

Look at the massive figures that came out of the North-west and North-east. Should they not give us the details of where those votes came from?â&#x20AC;? he asked.

But INECâ&#x20AC;&#x2122;s Director of Voter Education and Publicity, Mr. Oluwole Osaze-Uzi, told THISDAY last night that the commission was still authenticating the results from the states, explaining that until that process is concluded they could not be uploaded on the electoral bodyâ&#x20AC;&#x2122;s website.

where the Court of Appeal or the Supreme Court being the final Appellate Court in any election petition nullifies the Certificate of Return of any candidate, the commission shall within 48 hours after the receipt of the order of such court issue the successful candidate with a valid Certificate of Return. â&#x20AC;&#x153;The operation word in the said proviso is that the appeal relating to the issuance of a Certificate of Return must emanate from an election petitions tribunal.â&#x20AC;?

On the suspension of Okorocha and Amosun who had both been elected into the Senate and were also suspended last week by the ruling APC, Okoye said that their suspension was a party affairs.

He stressed, â&#x20AC;&#x153;The validity of the returns made are within the purview of the commission and the Election Petitions Tribunals.

The suspension or expulsion of members of a political party is within the domestic realm of the parties and has nothing to do with the presidential and National Assembly elections.â&#x20AC;?

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NGN NGN 0.66 7.27 0.02 0.25 0.15 2.35 0.17 3.35 10.00 200.00 NGN 0.16 1.44 0.06 0.59 1.00 9.90 GOLDINSURE 0.04 0.44 ROYALEXCHANGE 0.03 0.33 HPE Nestle Nig Plc â&#x201A;Ś1,510.00 Volume: 341.955 million shares Value: N3.751 billion Deals: 4,515 As at Friday 1/3/19 See details on Page 35

% 9.9 8.7 6.8 5.3 5.2 % 10.0 9.2 9.1 8.3 8.3

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MONDAY, ÍźË&#x153; ͺ͸͚Π˞ T H I S D AY

NEWS

Organised Private Sector Lists Expectations from Buhari Chris Uba Members of the Nigerian Organised Private Sector (OPS) and other economic analysts have outlined their expectations and economic implications of President Muhammad Buhariâ&#x20AC;&#x2122;s re-election, saying that his victory would bring about policy stability, continuity in governance and boost foreign direct investment (FDI) in the country.

In separate interviews with THISDAY at the weekend, these analysts and OPS members also said Buhariâ&#x20AC;&#x2122;s re-election would guarantee fiscal stability and absence of policy somersaults, which would have resulted from change of government.

The country had recorded a negative growth of -1.5 per cent in gross domestic products (GDP) in 2016, and in recognition of the deep weaknesses of the nation's economy and the potential for further weakening, the federal government developed an Economic Recovery and Growth Plan (ERGP) for the period 2017â&#x20AC;&#x201C;2020.

The ERGP laid out the government's strategy for achieving the government's vision of sustained and inclusive

growth.

Essentially, the plan seeks economic recovery in the shortterm and structural reforms aimed at diversifying the economy to set it on a path toward sustained and inclusive growth over the medium to long-term.

The Director General of the Manufacturers Association of Nigeria (MAN), Mr. Segun AjayiKadir, said stability of economic policies and improvement on the existing economic platforms were among the associationâ&#x20AC;&#x2122;s expectations from the re-election of Buhari.

Ajayi-Kadir advised Buhari to take stock of his administrations past achievements and improve upon various policy initiatives, particularly the Ease of Doing Business and the implementation of the Executive Order 003.

He also advised that a more concrete timeline for assessing and renovating the system must be put in place and accurately followed for the delivery of economic growth. â&#x20AC;&#x153;We look forward to deepening of all processes particularly the Economic Recovery and Growth Plan (ERGP). There has to be an evaluation on performance, lapses and the involvement of

Buhari a monitoring process that is inclusive of both the private and public sectors,â&#x20AC;? MAN said.

Reacting also, the Director General of the Nigerian Employers Consultative Association (NECA), Mr. Timothy Olawale, said the re-election of Buhari has implications for policy continuity, improvement on the Ease of Doing Business, federal government intervention funding of the private sector through the Central Bank of Nigeria (CBN), adding that it is also a boost for FDI in the country.

He said the fears were that the emergence of a new administration would result

to policy somersaults which, he said, would not have been in the interest of the country.

Former Register and CEO of Chartered Institute of Bankers of Nigeria (CIBN), Dr. Uju Ogubunka, said it is now very early to comment because the cabinet has yet to be constituted.

Given the dwindling in the market, the reactions have not been favourable. â&#x20AC;&#x153;Because the opposition said it would go to court to challenge the outcome of the elections.

"Fifty-fifty, people are going about their normal businesses because of uncertainty, and when there is uncertainty, you know what that means," he said.

Investment and financial expert, Mr. Bismarck Rewane, who is also the Managing Director of Financial Derivatives Company Limited, told THISDAY that one of the positive implications of the re-election of the president is policy stability, which he said would ensure continuity in the implementation.

He said the present administration has started some economic projects, hence the reelection of the president would ensure their continuity with a view to ensuring the attainment

of their objectives.

Rewane, however, suggested that President Buhari must do things differently now that he has been re-elected, adding that he must focus on the economy, which he said had suffered in the last two or three years.

He has to work to bring the ailing economy out of the woods and restore it to the part of sustainable growth.

A Lagos-based financial analysts and Managing Director of BIC Consultancy Services, Dr. Boniface Chizea, said, â&#x20AC;&#x153;We must thank God for a relatively peaceful election. One is not unmindful of the reported loss of life and carnage across many states and locations in the country during the elections and sincerely wished that it was not so. But the reality is that it could have been worse particularly the post-elections reactions which even if reported as volatile in some parts of the country has been relatively subdued. â&#x20AC;&#x153;With the elections pending the risk factor in the economy was heightened. And this had all manner of implications for the macroeconomic. â&#x20AC;&#x153;One of the negative consequences was that portfolio

investors voted with their feet as they moved their investments quickly outside to safer climes and this had immediate and direct negative implications on the performance of the Stock Market as all the critical indices were in the negative territory.

Market capitalisation was reported to have hemorrhaged up to N1.9 trillion last year alone and this depicts the extent of loss on investorâ&#x20AC;&#x2122;s assets. No wonder the market assumed a bearish character but already one reads that life is returning back to the stock market. â&#x20AC;&#x153;With so much portfolio investments returning to the economy, this would most certainly give a boost to our foreign reserves position and contribute to stabilising the naira exchange rate. â&#x20AC;&#x153;Now for the economy at large the fiscal authorities would now be able to pay attention to urgent matters of managing the economy for desired growth and development. â&#x20AC;&#x153;We had the 2019 budget presented to the National Assembly which we would recall witness a show of shame as the office of the president of the country was denigrated."

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. â&#x20AC;&#x153;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 thumb-printing ballot papers inside his house. â&#x20AC;&#x153;Results from the presiding officer from Zamfara were concocted and allocated according to the wishes of the leadership of the APC and INEC,â&#x20AC;? he alleged.

Emphasising the opposition's position, Turaki said: â&#x20AC;&#x153;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. â&#x20AC;&#x153;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. â&#x20AC;&#x153;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. â&#x20AC;&#x153;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.â&#x20AC;?

Turaki stated further that â&#x20AC;&#x153;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. â&#x20AC;&#x153;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.â&#x20AC;?

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. â&#x20AC;&#x153;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,â&#x20AC;? 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.

Shortly before Yakubu made his return on Wednesday morning, the PDPâ&#x20AC;&#x2122;s chief agents at the collation centre, former minister of Aviation, Chief Osita Chidoka, vehemently protested what it called selective use of the smart card reader (SCR) in a significant part of Northern states, saying since it was a breach of INECâ&#x20AC;&#x2122;s guideline, the results of the presidential election ought to be reviewed.

Raising other sundry concerns about the conduct of the election, 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.

Some of the candidates for next Saturdayâ&#x20AC;&#x2122;s elections told THISDAY yesterday that they would rather prevent than seek cure for â&#x20AC;&#x153;an injury certain from the selective use of the card reader.â&#x20AC;?

STATE GOV, ASSEMBLY CANDIDATES MOVE TO DUMP SMART CARD READER while the electoral body rigidly enforces its use in the South of the country, it is loosely applied in the North, enabling the upper part of the River Niger to return massive votes to the disadvantage of the lower part of the river where votes are suppressed.

Some of the candidates, who expressed their misgivings to THISDAY, therefore, said they were already mobilising their arsenal to fight the use of the device to a standstill in the election coming up this weekend. â&#x20AC;&#x153;You would recall that in 2015, there was manipulation of the card reader. Whereas it was not sensitive in the North, it was ultrasensitive in the South, so much so that even Dr. Goodluck Jonathan, who was the sitting president, had to try about six times before his finger print was authenticated,â&#x20AC;? one of the aggrieved candidates, who would not want to be mentioned said, adding: â&#x20AC;&#x153;You have seen how, again the device has been manipulated in 2019 with its virtual non-application in the North and strict use in the South.â&#x20AC;?

Claiming that despite their protest of the discrepancy, INEC did nothing about it, he said they are ready to use all means possible to stop the use of card reader on Saturday in the South. â&#x20AC;&#x153;We cannot operate the same regulation in different ways in the same country. We have seen that the commission is not ready to enforce uniformity of the regulation on the card reader and we are no longer going to allow it,â&#x20AC;? he said.

For accreditation of voters on election day, INEC states in clause 8(b) of its regulations: â&#x20AC;&#x153;No person shall be allowed to vote at any Polling Unit/Voting Point Settlement/ Voting Point other than the one at which he/her name appears in the Register of Voters and he/she presents his/ her permanent voter card to be verified by the Smart Card Reader, or as otherwise determined by the commission.

It stated further in clause 10(a): â&#x20AC;&#x153;In accordance with Section 49 (2) of the Electoral Act, a person intending to vote shall be verified to be the same person on the Register of Voters by use of the Smart Card Reader (SCR) in the manner prescribed in these regulations and guidelines.â&#x20AC;?

It prescribed the manner in clause 10 (d): â&#x20AC;&#x153;The accreditation process shall comprise reading of the Permanent Voterâ&#x20AC;&#x2122;s Card (PVC) and authentication of the voterâ&#x20AC;&#x2122;s fingerprint using the SCR; checking of the Register of Voters and inking of the cuticle of the specified finger of the voterâ&#x20AC;?

It warned: â&#x20AC;&#x153;Any poll official who violates the provision of Clause 10 (a) shall be deemed to be guilty of an offense and shall be liable to prosecution.â&#x20AC;?

However, INECâ&#x20AC;&#x2122;s Director of Voter Education and Publicity, Mr. Oluwole Osaze-Uzi, told THISDAY that INEC was not aware of any move to set aside the use of card reader in the governorship election over alleged none use of card reader in some states during the presidential and National Assembly elections.

He said: â&#x20AC;&#x153;We are not aware of any move to jettison the use of card reader during the governorship election. It is not factually correct that card reader was not used during the presidential election. â&#x20AC;&#x153;Nobody complained that card reader was not used during the presidential election. Yes, some people complained that card reader was not used in some polling units but not in the entire state.â&#x20AC;?

Actually the Peoples Democratic Party (PDP) had complained about the selective application of the regulation on card reader, saying while it was strictly enforced in South as a strategy to supress votes in its stronghold, the device was sparingly deployed in the North, where the ruling All Progressives Congress (APC) returned jumbo votes.

The Chairman of the Independent National Electoral

Commission (INEC), Prof.

Mahmood Yakubu, had declared President Muhammadu Buhari of the APC as the winner of the presidential election conducted last Saturday.

Declaring the results on Wednesday morning, he said Buhari won with 15,191,847 votes to PDPâ&#x20AC;&#x2122;s Alhaji Atiku Abubakarâ&#x20AC;&#x2122;s 11,262,978.

Out of the presidentâ&#x20AC;&#x2122;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 nationâ&#x20AC;&#x2122;s six geo-political zones. In his kitty were North-west, North-east, North-central and 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 Buhariâ&#x20AC;&#x2122;s comfort zones were too meager to help him carry the day.

For instance, in Atikuâ&#x20AC;&#x2122;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, Buhariâ&#x20AC;&#x2122;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 partyâ&#x20AC;&#x2122;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: â&#x20AC;&#x153;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 over-voting already carried out during the election in some states by the APC.â&#x20AC;?

According to him, the PDP National Chairman, Prince Uche Secondus has communicated the PDP position to the INEC Chairman, Prof. Mahmood Yakubu, saying â&#x20AC;&#x153;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.â&#x20AC;?

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 â&#x20AC;&#x153;Whereas the number of accredited voters was 601, 056, the total votes cast was 775, 449.â&#x20AC;?

According to him, â&#x20AC;&#x153;This is a

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

COMMENT

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

THEVALUE OF A NIGERIAN LIFE Life is increasingly becoming meaningless, writes Caleb Adebayo

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bout a week ago, I was passing through one of Lagosâ&#x20AC;&#x2122; very busy roads and an ambulance, its sirens blaring, was trying to weave its way through the traffic, repeatedly sounding its horn, its driver frantically announcing that there was an emergency. A few people tried to move, others just sat still, unyielding, while the ambulance driver was helpless. About a day before, I had seen a similar incident, only this time it was a police vehicle blaring its sirens and honking for cars to move aside. In less than a minute, everyone moved to the side and the police van drove through. Only yesterday, I learnt from a friend about how her uncle had been involved in an accident, and that while he was left there to bleed, his phones, laptop and even wrist watch were stolen, with no attempt at offering assistance.

These incidents and many more I will refer to in this spiel make me wonder: what really is the value of a Nigerian life? Over the past few years, Nigeria has suffered the worst cases of insecurity in sub-Saharan Africa. Its citizens have been killed in droves like chickens slaughtered during festivities. The security incidents in Benue, Borno, Jos and elsewhere should still be fresh in our memories, but has been quickly forgotten, because somehow, we perhaps have gotten accustomed to unnecessary deaths that an extra one is just a statistic and nothing more.

The Otedola Bridge explosion in Lagos in June last year that claimed lives, caused untold tragedies to families and kept many in very critical conditions has not long passed, yet tankers still continue to transport petrol across the country at busy hours of the day, worsened by the fact that these tankers are not roadworthy. Do we also forget Leah Sharibu who was a victim of the Dapchi abductions by Boko Haram and has still not been found over a year after she was abducted? Do we realise how nothing is being said about it by the government?

Some weeks ago, a story made the rounds about indiscriminate shooting by a Customs official because he was refused a bribe. A few days ago, we heard of another indiscriminate shooting incident by a policeman in Ayobo, Lagos State, even though the police have denied it, making it their word against that of eyewitnesses.

To add to all of these, our roads are death traps; a good opportunity for highway robbers and killers, or worse off, for unsavoury road accidents. And while these killings and accidents are on the rise, nobody cares. The average Nigerian who is alive merely thanks God that â&#x20AC;&#x2DC;it was not himâ&#x20AC;&#x2122;. The government in power only makes an offhand statement, if any will be made at all, condemning the incident while the responsible law enforcement agencies in instances where they are the culprits are skilled in denials;

NIGERIA HAS SUFFERED THE WORST CASES OF INSECURITY IN SUB-SAHARAN AFRICA. ITS CITIZENS HAVE BEEN KILLED IN DROVES LIKE CHICKENS SLAUGHTERED DURING FESTIVITIES

well-worded press statements that play on the intelligence of citizens.

And soon after the tragedy, everyone claps their hands in amazement, heaves sighs, and moves on, as though the dead are the unlucky gamers in a game of musical chairs, the ones who after the music stopped, could not find any of lifeâ&#x20AC;&#x2122;s chairs to sit on.

Healthcare in the country is deplorable, security agencies are killing citizens - a terror to those they are supposed to protect, the government is silent on reprisal attacks and ethnic cleansing, politics takes precedence over people, and the same people whose lives donâ&#x20AC;&#x2122;t matter are the ones who, sadly, are the pawns of the political process, giving up their lives while doing the bidding of one political candidate or the other.

The Presidential elections were just concluded, with violence in certain quarters and reports of absence of security personnel, or where they were there, their passiveness. This again attests to the fact that the Nigerian life is in the hands of the Nigerian, that he has no assurance of security from the government, that if he asserts his right too much, he will be killed by the security operatives; and that if he goes out on the road and gets unlucky, he could be the victim of a tanker explosion from a tanker that was meant to be kept off the road; or if he was from a particular ethnic group or professed a certain faith, he would be the target of abduction or outright death; or that if he stepped out to exercise the most important and basic of his civic duties, he will be intimidated and possibly killed; or even worse that if his two year old developed a severe illness, he would have to hope for divine intervention or simply watch the poor child die, because there was no affordable healthcare.

And we wonder why one in every three Nigerians wants to leave the country for â&#x20AC;&#x2DC;greener pastureâ&#x20AC;&#x2122;. In a country where lives mean little or nothing, and politics, re-election and power means everything, we are simply building a time bomb of lawlessness.

A place where people would rather take laws into their hands than trust the system, because the system does not even care about them anyway.

With all the politicking that has been happening in recent times, which of the candidates we keep rooting for has assured us that the Nigerian life would mean something? Which of them has a road map for affordable healthcare or low-cost housing or increased security or border control? Yet, we, the ones who bear the brunt of it all, walk to the polls and imprint against their logos, endorsing another four years for people who do not place value on the Nigerian life. Until we reverse this trend, the Nigerian life would be worth next to nothing.

Adebayo, lawyer wrote from Lagos

MOMODU AND AGBAKOBA ARE WRONG Odoh Michael argues that Atiku Abubakarâ&#x20AC;&#x2122;s decision to go to court will strengthen democracy

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n 2003 when President Muhammadu Buhari first ran for the office of President and lost, he went to court to challenge the result of the election because he felt he was cheated and his mandate stolen. He did same in 2007 and 2011, and never called to congratulate his opponents in these elections. Adams Oshiomhole, Rotimi Amaechi and Rauf Aregbeshola, stalwarts of the ruling party also challenged their various governorship elections and won at the Supreme Court.

The electoral act that gave room for candidates to go to court and challenge their election results did that to checkmate the rigging of elections. Destiny may be delayed but it cannot be denied and this to me is the reason for the tribunal. I was shocked when I read Dele Momoduâ&#x20AC;&#x2122;s tweet asking Atiku Abubakar to call President Buhari and congratulate him. The worse was when I saw same from a senior advocate of Nigeria, Olisa Agbakoba.

Goodluck Jonathanâ&#x20AC;&#x2122;s decision to call

his opponent in 2015 was because he felt that the election, he conducted was free and fair. But that is not the same with 2019. Atikuâ&#x20AC;&#x2122;s decision to go to court is a victory for democracy. The court is there to settle issues between parties; it is legal so Atikuâ&#x20AC;&#x2122;s decision to go to court is in line with the law. The benefit of this is simple: if Atiku emerges victorious in court, Nigeriaâ&#x20AC;&#x2122;s democracy will become reborn.

No leader will have the mind to sit back, do nothing and when the people decide to vote him out, he/she rigs the election in their favour because they will know that they will have their day in court and be disgraced out of office. If Atiku sits back and do nothing, two things will happen which will be bad for our democracy: Nigerians will no longer have the zeal to go and vote because they would have lost faith in the electoral system and secondly, it will give room for massive rigging and manipulation of election results and nothing will happen to the perpetrators.

The former Vice President has not

declared himself president-elect, neither has he asked his supporters to go against the law. So it beats my imagination why people who claim to be defenders of democracy will be against an idea that will strengthen our democracy and give power back to the people. If Atiku refuses to go to court, it means he would have failed the millions of Nigerians who came out to vote for him and who believe that he won the elections. The decision will also affect our democracy negatively as stated above. My advice to Dele Momodu and Olisa Agbakoba is simple: Atiku is not going against the law, he is exercising his right as enshrined in our electoral act, Buhari has done it thrice in the past, let Atiku be. If the APC feels they won the election free and fair, they will have their day in court to defend the victory but let it be known, that Nigerians will no longer sit back under a false peace agreement that will look the other way when our mandate is stolen and expects us to do nothing but remain silent like a lamb that

is being led to the slaughter house. Just like I said earlier, if Atiku does nothing, our democracy will die because it will give room for what we saw on the 23rd of February 2019. People must be held accountable for their actions. He who has nothing to hide goes to equity with clean hands.

Atiku is a true democrat who has continued to fight for democracy and 2019 should not be different. Let both parties meet in court, it will only strengthen our democracy. No matter the outcome, the Nigerian people and our democracy will emerge victorious because Nigerians will now know that, the court is there for us and we have a right to use it whenever we feel cheated.

The Judiciary is the best part of democracy and today, Nigerianâ&#x20AC;&#x2122;s democracy lies before our judiciary. It is up to them to either save it and be on the right side of history or destroy it permanently. Time will tell.

Michael wrote from Abuja

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T H I S D AY MONDAY, MARCH 4, 2019

EDITORIAL Curbing Animal Cruelty In Nigeria The authorities could do more to protect wildlife

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espite the fact that there is no report that anybody has ever been tried and convicted for the offence, the 1999 Constitution prohibits the abuse of animals under Miscellaneous Offences. It states in Chapter 50 on ‘Cruelly to Animals’ that any person who cruelly beats, kicks, ill-treats, over-rides, over-drives, over-loads, tortures, infuriates, or terrifies any animal, or causes or procures, or, being the owner, permits any animal to be so used “is guilty of an offence of cruelty and is liable to imprisonment for six months or to a fine of fifty naira, or to both such imprisonment and fine.”

Sadly, it has become an everyday spectacle for itinerant traditional medicine sellers and owners of small circuses to move around towns and cities dragging along fettered animals that have been declared endangered and near extinct by the United Nations Environment Programme (UNEP) and by the World conservation bodies. These animals, which THE FEDERAL include, but not limited GOVERNMENT HAS NOT to, monkeys, baboons and hyenas are cruelly BEEN ABLE TO EQUIP treated by their captors, FOREST GUARDS TO compel them to STOP POACHERS, WHO who perform tricks for variOPERATE ALMOST ous paying audiences.

FREELY WITHIN THE Most of them are NATION S PROTECTED usually infants whose parents either exist as GAME RESERVES families in the wild or may have been killed by poachers, who would then sell the children in the black market. The issue is that the act of parading wild animals on the streets is both illegal and cruel.

It is noteworthy that Nigeria is a signatory to the Convention on International Trade in Endangered Species of Wild Fauna and Flora, also known as “CITES”. The treaty aims to protect wildlife from over-exploitation from international trade. It also provides different levels of protection

for a large list of plant and animal species, working to protect their numbers in the wild. It does this by imposing a specialised permitting system on the transport and trade of specific listed species. By those extra hurdles, CITES has created an environment that has had a significant impact on the rampant over-exploitation of the species it monitors.

Nigeria has a number of animal and plant species that are listed by The World Conservation Union (IUCN) in the 2004 “Red List of Threatened Animals”.

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

t is noteworthy that the federal government has not been able to adequately equip forest guards to stop poachers, who operate almost freely within the nation’s protected game reserves. From Yankari, Bauchi State to Okomu, Edo State Gashaka-Gumti National Park in Adamawa and Taraba States to Cross River National Park and Omo Forest Reserve, Ogun State, there is no protection for the animals. Worse still, poachers are usually not interested in the orphans that they leave either to die of hunger or get picked up by people who then sell them to itinerant medicine men or circus operators.

This unchecked thriving trade in wildlife in Nigeria led to the suspension of the country from CITES in March 2008. Five years earlier in 2003, after two gorillas that were being illegally trafficked were intercepted in Kano, international and local conservationists labelled Nigeria a hub in the illegal trade in endangered wildlife. The two captured female western lowland nine-year-old gorillas were subsequently sent back to their homeland in Cameroon that year to the shame of our country.

Incidentally, Nigeria was once said to have the most diverse population of monkeys and apes in the world, but as its forests have dwindled many animals have been hunted to extinction. Nigeria’s remaining gorillas are from a particularly endangered sub-species of the lowland gorilla: The Cross River gorilla that lives in the rugged mountainous jungle on the Nigeria-Cameroon border.

The federal government recently employed some forest guards. But they can do more by mopping up the wildlife on our streets and sending them back into their natural habitats.

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2019 PRESIDENTIAL ELECTION: THE DAYS AFTER

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uring the political leadership of Dr. Goodluck Jonathan, a climate of despair pervaded our body-politic owing to his abysmal and lackluster leadership of Nigeria. So, Nigerians from diverse ethnic origins cast protest votes against him in the 2015 Presidential election. His major challenger in that election was Muhammadu Buhari. Buhari, who was riding on the crest of his touted integrity, cashed in on the people’s disenchantment with the then incumbent president to win the 2015 Presidential poll.

Then, Buhari was believed to possess integrity; and Nigerians felt that he was the political messiah and emancipator, who would transform Nigeria, positively. They thought that he would right the wrongs in our political polity. But with the passage of time, unfolding events had proved otherwise. The Buhari school certificate saga called into question his claim to being a man of probity. Can he now pontificate on the need to eradicate corruption from Nigeria? Again, his leadership of Nigeria has shown that he does not possess the Midas touch that can take Nigeria to great economic and technological heights.

So, in the run-up to the 2019 Presidential election, political pundits did forecast that President Buhari would kiss the dust regarding the 2019 Presidential election owing to many factors.

He couldn’t record landmark achievements during his first term in office. And, he is a divisive figure, who is activated and driven by ethnic and religious sentiments and impulses.

A man with nepotistic and clannish disposition, he appointed mostly northern Muslims into our top security architecture. His

nepot istic deeds alienated him from millions of Nigerians, who possess fealty.

But, against all expectations, and political permutations, INEC, the body charged with conducting elections in Nigeria, declared him the winner of the 2019 Presidential election amidst allegations of electoral malfeasance perpetrated by the ruling APC. In fact, a great number of Igbo folk residing in some parts of Lagos were prevented from casting their ballots on the day the Presidential election took place. And, there were reported cases of ballot box snatching in many places across Nigeria.

Worse still, some people paid the supreme price during the election. The 2019 Presidential election ranks among the most badly-conducted Presidential elections in our political annals.

So, not surprisingly, Atiku Abubakar, who was tipped to win that election, has vowed to challenge the victory of Muhammadu Buhari in court. But can he get redress and succour from the judiciary. The judiciary ought to be the bastion of justice and the last hope of the common man. But the reverse is the case here. Now, in Nigeria, it is customary for the executive arm of the government to brow-beat the judiciary to do its bidding. In fact, our justice system is troubled, what with the manner in which Justice Walter Onnoghen was removed from office.

President Buhari is known for his penchant for circumventing constitutional provisions in his bid to achieve his goals. His unilateral suspension and removal of Justice Onnoghen from office without recourse to the appropriate body epitomized his disdain and contempt for separation of power. The selfsame sanctimonious President Buhari has ignored and disobeyed court rulings on Sambo Dasuki and El-Zakzaky. His misdeeds

and infractions of the constitution are portents of doom for our fragile democracy.

Is he not aware that Presidentialism is anchored or based on the practice of the theory of separation of power as espoused

by Montesquieu? The three arms of government ought to be independent of one another and act as check on one another, too, in order to prevent the president from becoming autocratic.

But, now, incipient autocracy is creeping in on our body-politic.

And it will not augur well for our country considering the fact that there are millions of discontents in Nigeria, who are ready to revolt against the government when galvanized and roused to action.

Instead of transforming to a civilian dictatorship, the federal government should invigorate and re-jig our battered and struggling economy to better the living conditions of millions of hapless Nigerians. Today, millions of Nigerians are living in dire circumstances. These Nigerians, who are trampled underfoot, have been reduced to subhuman beings by poverty. So, this government ought to urgently implement economic policies and measures to lift them out of abject and biting poverty.

It is a known fact that deprived people are susceptible to being either coerced or coaxed into joining terrorist groups like Boko Haram and others. Boko Haram has been threatening the political stability of Nigeria for a long while now. The federal government should up the ante in its fight against the insurgents.

Again, President Buhari should change the people’s perception that he is lenient on the murderous Fulani herdsmen because he himself is a full-blooded Fulani man through his actions. The Fulani herders and farmers’ incessant clashes undermine and imperil our national unity.

Chiedu Uche Okoye, Uruowulu-Obosi, Anambra State

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T H I S D AY Ëž Ëž ÍźË&#x153; ͺ͸͚Î

Group Politics Editor NSEOBONG OKON-EKONG

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

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

Why APC Lost Edo Adibe Emenyonu writes that the recent abysmal electoral performance of the All Progressives Congress in Edo State could be traced to factors that have haunted the party for a long time

Obaseki

Ordia

Ihonvbere

Akpatason

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It wasnâ&#x20AC;&#x2122;t therefore a surprise when Clifford Ordia of the PDP and incumbent senator representing the zone in the Senate was declared winner by INEC. Ordia, an engineer by profession, scored 56,048 votes to trounce his rival, John OsagieInegbedion, an acolyte of Governor Godwin Obaseki who garnered 49,158 votes.

In the same manner, Sergius Ogun, also of the PDP was announced winner of Esan North East/Esan South East Federal constituency seat.

Ogun trashed Joseph Ikpea, a former Council chairman, and younger brother to Delta-based multimillionaire, Leemon Ikpea with 25,581 votes as against 18,687 votes.

It was not also good news from Esan West/Esan Central/Igueben Federal constituency when the result was declared. It also showed that Chief Joe Edionwele of the PDP, defeated Deacon Patrick Idiake of the APC. Edionwele scored 30,848 votes while Idiake garnered 29,844 votes.

Then came the real disaster which defied all political permutations and analysis because nobody expected the defeat from Edo South, the home of Governor Godwin Obaseki, former National chairman of the party, Chief John OdigieOyegun, Minister of State, Health, Dr. Osagie Ehanire, APC, state secretary, Lawrence Okar, former Deputy Governor, Lucky Imasuen, APC Youth leader, Valentine Asuen and Major-Gen. Charles Airhiavbere (rtd).

The first sign that defeat stared APC in the face came when some of itâ&#x20AC;&#x2122; candidates began to raise alarm, accusing the opposition and INEC of skewing the process, which was dismissed. But when the results finally came, it was shocking.

The governor lost his immediate constituency seat of Oredo with a wide margin. The quintessential Omoregie Ogbeide Ihama of the PDP was declared winner of Oredo Federal Constituency seat. He polled 32,895 votes to defeat the APC candidate, Hon. Tony Osaigbovo Iyoha, who scored 23,352 votes.

As if the Oredo saga was not enough, the result form Egor/Ikpoba-Okha Federal constituency was a big political blow to the APC family following the humbling defeat of the rotund political figure from the area, Rt. Hon. Ehiozuwa Johnson Agbonayinma by a frail and colourless personality, Jude Ise-Idehen who polled 53,618 votes to defeat the incumbent, Agbonayinma of the APC who scored 44,323 votes.

The only cause for smile in the zone came from the remaining two constituencies of Ovia and Uhunmwode/Orhionmwon where the APC won. According to the result from Uhunmwode/ Orhionmwon, the APC candidate, Mr. Patrick Aisowere scored 27,526 votes to win Mrs. Uwa Osunbor of the PDP who pulled 23,460 votes.

In Ovia Federal constituency, Dennis Idahosa of APC dethroned the daughter of Chief Gabriel Igbinedion, the Esama of Benin, Ms Omosede Igbinedion of PDP who is currently occupying the seat. Idahosa, a former Commissioner in Edo, polled a total of 28,509 to defeat Omosede

who scored 23, 345 votes.

This little joy was nevertheless, wiped off by the result of the senatorial seat. The sitting senator of the PDP, Sen. Matthew Urhoghide beat the favoured political wordsmith and bombastic Hon. Patrick Obahiagbon. He scored 135,588 votes to beat Obahiagbon who pulled 121,957 votes.

The outcome of the National assembly poll also affected the presidential election result. Overall, President Muhammadu Buhari of the APC lost to Alhaji Atiku Abubakar of APC with 267,681 votes to 275,681 votes. In the Edo Central senatorial district for instance, PDP had 56,874 votes while APC scored 45,116 votes. North senatorial district, APC pulled 114,071 votes and PDP 80,042 votes. While in the South senatorial zone, PDP garnered 138,767 votes and APC 108,613 votes.

With this results, APC has won five of the federal constituency seats, while PDP secured four seats. In the Senate result, PDP won two of the senatorial seats and APC had one.

The outcome, political watchers in the state believe is not a good one for the APC that controls the federal, state and local government administration. Handlers of the APC in the state have been roundly blamed for these uninspiring results.

In 2015, for instance, a similar scenario played out but the difference then was that PDP was in control of the federal government. But with APC government in charge, â&#x20AC;&#x153;there is no excuse for this show of shame,â&#x20AC;? said one of the party sympathizers who craved anonymity. According to him, â&#x20AC;&#x153;it was expected that the party will perform creditably well but some of us are disappointed with what happenedâ&#x20AC;?.

The road to the present dismal performance of the APC in Edo State was tarred two years ago. Shortly after he took over, Obaseki began to have run-ins with top leaders of the party. First to disagree with his style of governance was the then state youth leader of the party, Comrade Osakpanmwan Eriyo, popularly called â&#x20AC;&#x153;No Molestâ&#x20AC;?.

The differences led to Eriyo being clammed into prison custody for two months. He was only released following the intervention of Oshiomhole before he was forcefully removed, and replaced with the favourite of the governor, Valentine Aisen.

Not only that, another youth leader, Anthony Adun, alias Tony Kabakar also fell out with the governor. The same attitude drove away Rotimi Adams, popularly known as â&#x20AC;&#x153;Shabaâ&#x20AC;? by his cronies who is now with the opposition PDP. These youth leaders were the foot soldiers of the APC before Obaseki came to office. They were the ones the party used in bringing Obaseki to power.

The disagreement Obaseki had with these youth leaders emanated from the abrupt suspension and removal of markets and motor parks toll collection from them without providing an alternative means of survival. Angered by this move and the adamant posture of the governor to find a middle cause to resolving the logjam, the 2019 presidential and national assembly elections

became the launch pad to pay the governor back in his own coin.

Another reason the APC performed poorly in the elections is due to the calibre of persons who surround Obaseki.As soon as he took over, Obaseki conceived a plan to do away with Oshiomholeâ&#x20AC;&#x2122;s men and recruited his own infantry battalion.

Unfortunately, he could not back it up with the required generosity to command enough loyalty.

More so, his recently conscripted foot soldiers lack the political sagacity of the old brigade he dispensed with. Even when they are indigene of the communities they were asked to man as Special Assistants at the wards, local governments and state levels, they remained far from the politics of their respective community because they are not on ground.

Not too long ago, some indigenes of the state cried out that foreigners and those who were not around during the electioneering that brought the governor to power are now the ones calling the shots in his administration. Nobody cared to listen to their complaints. Some of these complainants were among those that sabotaged the APC. They even vowed to teach him a greater lesson during the state assembly polls slated for this weekend.

Again, it was alleged that the governor in his spent thrift nature, cared less in the last election in terms of campaign funds for his party candidates.

According to a source close to him, â&#x20AC;&#x153;He refused to support our candidates, simply because the election is not his own. Even when he decided to bring in something, it was not only too meagre, but came very late. Severally when approached for funds, he will say anyone seeking election should be ready to finance it.â&#x20AC;?

Another straw that broke the camelâ&#x20AC;&#x2122;s back was the over confidence displayed by APC chieftains in the state. They were banking on the fact that since APC is in control of the federal, victory was assured. They have since learnt the hard way.

Moreover, when the election was first postponed, they went celebrating believing, the opposition will no longer have the wherewithal to mobilise their supporters not knowing that is not over until it is all over.

Against this backdrop, Obaseki has begun to mend fences to ensure the victory song changes in favour of APC. This is necessary because a repetition of the last election in the forthcoming state assembly election will spell doom not only for the party, but his reelection chances in 2020.

Should the PDP win majority of the state assembly seats, he might as well bid goodbye to Dennis Osadebey Avenue.

In the bid to cover for the loss in the presidential and national assembly elections, the party and Obaseki have started making moves with the intent to retain all or most of the seats in the state assembly in order to remain relevant.

he last presidential and national assembly elections in Edo State did not bring cheering news to the All Progressives Congress (APC) family because from all indications, the party had no excuse to lose. However, when the results were announced, the party struggled to capture five of the nine seats in House of Representatives.

The senatorial contest was a disaster for the party, as it lost two of the three seats to the opposition Peoples Democratic Party (PDP).

But for the gallant fight displayed by the APC members in Edo North senatorial district, it would have been entirely a difficult race. In the zone, the party swept all the three Representatives seats available including the senatorial seat.

Comrade PeterAkpatason opened the floodgate of victory in the area. The two-time House member and former National President of PENGASON defeated Oladele Bankole-Balogun of the PDP to win Akoko-Edo Federal Constituency seat.

He scored a total of 27,097 votes to beat the PDP candidate who scored 16,053 votes.

Akoko-Edo Federal constituency is home to prominent personalities like, Senator Domingo Obende, Chief of Staff to Governor Godwin Obaseki, Mr. Taiwo Akerele, Speaker, Edo State House of Assembly, Rt. Hon. Kabiru Adjoto and Elder Ayo Olowojoba, Hon. Segun Oseh amongst others.

Next to bring cheerful news to the APC was Prof. Julius Ihonvbere who polled 33,199 votes to beat Johnson Abolagba who scored 25,722 votes when INEC released the final results at Afuze, headquarters of Owan East local government.

Professor Ihonvbere, a Human Rights activist was former Special Adviser to former President Olusegun Obasanjo on Project Monitoring. He was also SSG to former Governor Adams Oshiomhole of Edo State, now National Chairman of the All Progressives Congress (APC). His rival of the PDP was one time member, representing Owan Federal Constituency as well as Deputy Governorship candidate of the party in Edo 2012 governorship candidate. He ran on the same ticket with Major-Gen. Charles Airhiavbere (rtd) under PDP. Similarly, good tidings came from Etsako Federal constituency where incumbent Johnson Oghuma of APC, defeated the PDP candidate, Blessing Agbomere with 57,751 votes to 36,904 votes.

In the Senate race, incumbent senator from the area, Senator Francis Alimikhena of the APC, humbled Abubakar Momoh, one-time member, representing Etsako Federal Constituency in the House of Representatives. Alimikhena scored a total of 117,783 votes to defeat Momoh of the PDP who polled 80,752 votes.

The political fortunes of the party, however, began to change when the results from Edo Central senatorial seat was announced. Nobody expected anything else as the area has been a PDP stronghold for a long time. The result did not disappoint political fortune tellers.

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

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T H I S D AY Ëž Ëž ÍźË&#x153; ͺ͸͚Î

MONDAY DISCOURSE

Ranking Senators Whoâ&#x20AC;&#x2122;ll Shape the Ninth National Assembly Deji Elumoye writes that the Ninth Senate billed for inauguration in June will have 16 ranking senators who have spent between eight and 16 years in the Upper Chamber of the National Assembly

Abaribe

BoroďŹ&#x192;ce

Abdullahi

Ekweremadu

Gaya

Manager

Tinubu

Goje

E

his legislative experience spanning over 16 years.

PHILIP ADUDAH Senator Philip Aduda is Senate Minority Whip and has been in the Senate since 2011. Popularly called Landlord by his colleagues because the National Assembly is domiciled in his senatorial district, Adudah, a PDP FCT Senator had earlier served as a two-time member of the House of Representatives from 2003 to 2011.

very four years when elections into parliamentary seats are held in the country, more than 50 percent of federal legislators donâ&#x20AC;&#x2122;t get re-elected. This year is not an exception. However, there a couple of federal lawmakers, especially Senators who have been able to weather the storm in their senatorial districts and have consistently won re-election for a record three and five times. So, in the 9th Senate to be inaugurated in June, 16 ranking Senators will stand out among the 109-member Senate as having spent between eight and 16 years in the hallowed chambers.

IKE EKWEREMADU Top on the list is Senator Ike Ekweremadu who has spent 16 solid years in the Senate and has been re-elected for a record fifth time by voters in Enugu West senatorial district. He has been Deputy Senate President since 2007. Ekweremadu, started his political career in I999 as a local government chairman in his home state, Enugu before contesting for the Senate seat in 2003. He is passionate about devolution of power and sponsored the state police bill along with 76 other Senators which is at the second reading stage at the Senate.

Ekweremadu has been consistent with the Peoples Democratic Party (PDP) on which platform he has been re-elected five times to the Senate.

JAMES MANAGER Another fifth timer is Senator James Manager, representing Delta South since 2003. Well respected among his colleagues, Manager who is a PDP Senator, is Chairman of Senate Committee on Power. He had in the past sponsored many bills and he will bring to bear on the 9th Senate

AHMAD LAWAN Senator Ahmad Lawan was elected Senator in 2007 after serving as a member of the House of Representatives from 1999 to 2007. He is the Leader of the Senate. At the beginning of the 8th Senate in June, 2015, the APC Yobe South Senator was the choice of the Presidency for the coveted Senate Presidency seat but was outsmarted,

by Dr. Bukola Saraki who emerged Senate President and Chairman of the National Assembly. As Senate Leader, he introduces debate on issues, motions and bills presented before the Senate.

ENYINNAYA ABARIBE Senator Enyinnaya Abaribe has been representing Abia South senatorial district since 2007. He was deputy governor of Abia state during the first term of Governor Orji Uzor Kalu in 1999. Abaribe is Chairman of the South East Senate caucus. Last year, he was detained for days by the Department of State Service (DSS). The PDP Senator is usually critical of government policies and takes his time to fault many government appointments on the floor of the Senate.

ALI NDUME Senator Ali Ndume represents APC Borno South in the Senate since 2011 having served as a two-time member of the House of Representatives (2003 to 2011). At the inauguration of the eighth Senate on June 9, 2015, Ndume emerged as Senate Leader before he was removed in February, 2017. He is a committed Buharist who defends the Presidentâ&#x20AC;&#x2122;s policies at any point in time during plenary.

DANJUMA GOJE Senator Danjuma Goje is Chairman of the Senate Committee on Appropriation. His committee will be busy once Senate resumes plenary on March 12 scrutinising the 2019 Appropriation Bill submitted by President Muhammadu Buhari to the National Assembly last December. Goje who represents APC Gombe Central has been in the Senate since 2011. He was a two-time governor of Gombe state from 2003 to 2011.

KABIRU GAYA Senator Kabiru Gaya is APC senator representing Kano South and has been in the Red Chambers since 2011. He was a former governor of Kano state during the Third Republic.

ADAMU ALIERO Senator Adamu Aliero has been a ranking APC Kebbi central Senator since 2011.He had earlier served as Kebbi state governor.

OLUREMI TINUBU Senator Oluremi Tinubu, is also a third time Senator representing Lagos Central on the platform of APC. She is the wife of the National Leader of the APC, Asiwaju Bola Ahmed Tinubu, and is Chairman of Senate Committee on Environment. In the 7th Senate, she was the Chairman of the Senate committee on Women Affairs.

ABDULLAHI ADAMU Senator Abdullahi Adamu has been in the Senate since 2011. The APC Senator from Nasarawa West senatorial district is Chairman of Senate Committee on Agriculture.

At the inception of the Fourth Republic, Adamu served as governor of Nasarawa state for two terms (1999 to 2007).

AJAYI BOROFFICE Senator Ajayi Boroffice has been in the Red Chamber since 2011 and he represents Ondo North senatorial district on the platform of APC. TESLIM FOLARIN Senator Teslim Folarin is staging a come-back to the Senate having earlier served in the fifth and sixth senate from 2003 to 2011. He was the Senate Leader during the sixth Senate from 2007 to 2011 when he represented Oyo Central on the platform of PDP. He had since defected to the APC under which platform he won the senatorial election.

GEORGE SEKIBO Senator George Sekibo, like Folarin, is also staging a come-back having served in the sixth and seventh senate.

He is coming to represent Rivers East on the platform of PDP. IBRAHIM GOBIR Senator Ibrahim Gobir is a third time Senator representing APC Sokoto East. He is Chairman of the Senate services committee.

EMMANUEL BWACHA Senator Emmanuel Bwacha has been a PDP Senator representing Taraba South since 2011.He is Senate Deputy Minority Leader.

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

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T

REPO 17.42 % 16.33%

CALL 1-MONTH 3-MONTH

15.50% 14.25 % 15.38%

M A R C H S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

1 , 381.99% 1.03% 4.74%

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

2 0 1 9 S & P INDEX 1/4 TO DATE YEAR TO DATE

7.01% 7.01%

EXCHANGE RATE N306.85/1US DOLLAR* ĚŠ

Quick Takes Cities Alliance Calls for Proposals

125TH ANNIVERSARY CELEBRATION

L- R: Group Head, Marketing & Corporate Communications, FirstBank, Mrs. Folake Ani-Mumuney; GMD, FBNHoldings, Mr. UK Eke; Group Chairman, FBN Holdings, Dr. Oba Otudeko; Chairman, FirstBank, Mrs. Ibukun Awosika and CEO, FirstBank, Dr. Adesola Adeduntan, raising their flags during FirstBankâ&#x20AC;&#x2122;s 125th anniversary flag hoisting/press conference held in Lagosâ&#x20AC;Śrecently

Report: Discos Weakest Link in Electricity Distribution Chain Obinna Chima The distribution companies (Discos) have been described as the weakest link in the electricity distribution chain.

A report by CSL Stockbrokers Limited, which disclosed this, noted that the federal government, for lack of immediate solutions to the issues of discos, is seeking alternatives.

It also pointed out that another challenge in Nigeriaâ&#x20AC;&#x2122;s electricity value chain was liquidity.

The federal government had reiterated that power generation companies (Gencos) should on the back of the eligibility policy announced in 2017, make efforts to find customers and sell their power directly to the identified customers instead of waiting for electricity distributors to sell the power or for payments from the government for the shortfalls in their revenues.

Also, reports had indicated

ECONOMY that the government was making plans to stop the monthly payment to gencos to help cushion their revenue shortfalls.

The Minister of Power, Works & Housing, Mr. Babatunde Raji Fashola, had in May 2017, announced a policy permitting electricity customers to buy power directly from the Gencos in line with the provisions of Section 27 of the Electric Power Sector Reform Act 2005 whereby eligible customers are permitted to buy power from a licensee other than electricity distribution companies.

Four categories of customers were permitted to buy power directly from a licensee other than electricity distribution companies.

Presently, the National Bulk Electricity Trader (NBET) acts as the middle man between the Gencos and the Discos.

NBET was incorporated in

2010 with a mandate to operate as the trading licensee holding a bulk purchase and resale licence.

It is responsible for buying and reselling electrical power and ancillary services from independent power providers and from the successor GenCos. It was not intended to exist in perpetuity in its current incarnation. Rather its role is to act as a broker between power producers and the discos until the market is mature enough to support commercial bi-lateral trading.

However, the report by CSL Stockbrokers stated: â&#x20AC;&#x153;A clear challenge in Nigeriaâ&#x20AC;&#x2122;s electricity value chain remains liquidity.

The Federal Ministry of Power stated previously that at some point, the 11 electricity distribution companies in the country were paying for as low as only 17 per cent of the electricity allocated to them by NBET, causing NBET to default in its contractual obligation to

the gencos. â&#x20AC;&#x153;On the other hand, regulatory and tariff inconsistencies, unexpected changes in the foreign exchange market, inadequate financial and technical capacity and poor metering in turn challenge the Discosâ&#x20AC;&#x2122; cashflow.â&#x20AC;?

It recalled that last year, four power Gencos in the country filed a joint suit against the federal government before a Federal High Court in Abuja over what they termed discriminatory practices against their interest and that of their gas suppliers.

Amongst other allegations, the firms had alleged that NBET had consistently defaulted in paying them for the electricity generated and put on the national grid in breach of its contractual obligation.

According to the Gencos, Continued on page 24

â&#x20AC;&#x2DC;Increased Private Sector Investment Central to Nigeriaâ&#x20AC;&#x2122;s Prosperityâ&#x20AC;&#x2122; Ugo Aliogo The Chief Economist, PricewaterhouseCoopers (PwC), Dr. Andrew Nevin, has stated that increased private sector growth remains central in boosting Nigeriaâ&#x20AC;&#x2122;s economic prosperity.

According to him, with Nigeriaâ&#x20AC;&#x2122;s low tax to Gross Domestic Product (GDP) of about seven per cent, there was need to encourage private sector investment.

Nevin, disclosed this in Lagos at the Institute of Director (IoD) Nigeria February 2019 New Members Induction with the theme: â&#x20AC;&#x2DC;Eight Technologies Every Director Need to be Aware of.â&#x20AC;&#x2122; He noted that there was no

ECONOMY future for Nigeria as an oil economy, adding that the largest foreign exchange earner for any nation are the people, which comes as a result of innovation, and not oil.

Furthermore, the PwC boss said there was need for increased corporate governance in organisations, saying no organisation succeeds without strong governance. â&#x20AC;&#x153;The only way for Nigeria to be prosperous is improve to growth of the private sector, government is very small and the tax review is only between 6-7 percent of the Gross Domestic

Product (GDP), they will not be able spend the revenue to create a vibrate economy. â&#x20AC;&#x153;The private sector needs to be much bigger which implies that we need to have very strong governance in the private sector because it will not succeed except there is strong governance and people invest behind companies,â&#x20AC;? he explained.

He further noted that the IoD is a very critical institution for Nigeria with over 4,000 members who are drawn from every industry.

Nevin, explained that technology remains vital to the growth of businesses and called on directors to leverage new

technologies and understand how these technologies are impacting progress of companies. â&#x20AC;&#x153;The institute of director is a critical institution for Nigeria.

There are 4,000 members who come from every industry. In todayâ&#x20AC;&#x2122;s world, technology is very critical. â&#x20AC;&#x153;Directors need to take interest new technologies and they need to understand how these technologies are impacting their companies. â&#x20AC;&#x153;Also, they need to understand the importance of new technologies to the stewardship and governance of their companies. They need to put

Cities Alliance, a global partnership supporting cities to deliver sustainable development, hosted by the United Nations OďŹ&#x192;ce for Projects Services (UNOPS) is oďŹ&#x20AC;ering grants up to USD $50,000 to people working on innovative and accessible solutions for improving tenure security, land and property rights in African countries.

A statement from the organisation explained that rapidly growing cities like Nigeria struggle to support people living in overcrowded slum settlements. â&#x20AC;&#x153;Many of these residents live in unsanitary conditions and with the constant threat of corruption and forced evictionâ&#x20AC;&#x201D;all because they lack legal or formal protection to the places they live and work. â&#x20AC;&#x153;There is a growing number of people trying to solve this problem, and Cities Alliance wants to make sure they have the funding they need to grow and scale their promising solutions,â&#x20AC;? it added.

According to the statement, those eligible to apply include innovators, microenterprises, social entrepreneurs, community-based organisations, and national and local NGOs working in African cities.

The deadline for the submission of proposal is March 14, 2019.

It stated that over the last 19 years, Cities Alliance has awarded more than 400 grants totalling over $110 million in more than 80 countries, addressing a range of issues including urban poverty, local governance, and climate change.

GE Healthcare Partners NSIA

TheGEHealthcarehasgoneintopartnershipwiththeNigeriaSovereign Investment Authority (NSIA) to supply latest technology in computed tomography (CT), Discovery RT, to Lagos University Teaching Hospital The partnership would ensure the provision of latest technology to enable early diagnostics and better treatment for cancer patients.

NSIA- LUTH Cancer Center (NLCC) is the ďŹ rst hospital in West Central Africa to install GE Healthcareâ&#x20AC;&#x2122;s Discovery RT CT. The facility was commissioned by President Muhammadu Buhari last month. The Discovery RT, a simulation CT machine, is the ďŹ rst of such technology to be installed in the country. It enables physicians to study the body in detail allowing them to determine the exact location, shape, and size of the tumour to be treated. â&#x20AC;&#x153;As part of the partnership, GE Healthcare will also provide servicing of the equipment and deliver hands-on training for the hospitalâ&#x20AC;&#x2122;s radiology staďŹ&#x20AC; on the new technology. â&#x20AC;&#x153;Nigeria currently has eight public and one private comprehensive cancer care centres to serve its growing population of over 180 million people. â&#x20AC;&#x153;Many of the public cancer centres have radiotherapy machines that are outdated, making access to radiation therapy more diďŹ&#x192;cult for cancer patients, â&#x20AC;&#x153;it added.

The new radiotherapy centre is expected to increase access to quality services for the patients across Lagos state. This would help early detection and treatment of cancer, which improves chances of its being cured.

VFD Group Appoints Director

Mr. Ayodele Onawunmi has been appointed as an Independent NonExecutive Director ofVFD Group Plc by the companyâ&#x20AC;&#x2122;s board of directors.

The appointment is however subject to the approval of shareholders at the next Annual General Meeting (AGM).

Onawunmi, holds a B.Sc in Basic Medical Sciences from the University of Ibadan, Nigeria, a PGD in Business Administration from Heriot-Watt University, United Kingdom and a Masterâ&#x20AC;&#x2122;s in Finance from the London Business School.He has over 20 years of experience in Investment & Risk management, Public Sector engagement, Consulting, Business Development and Strategy and has served in various capacities at Access Bank Plc, Pensure PFA, Chapelhill Denham Group, Leadway Assurance company, Acorn Petroleum Plc and FDHL Group.

HeisamemberofthePrivateEquityClubandInvestmentManagement Club of the London Business School and is currently the Managing Partner of 213 Capital. The VFD Group last week announced its conversion from a private limited company to a public limited company (Plc).

The development became eďŹ&#x20AC;ective last month.

The Managing Director/Chief Executive OďŹ&#x192;cer,VFD Group, Mr. Nonso Okpala, who disclosed this, said the development was a major milestone for the group, its shareholders, board and staďŹ&#x20AC; across its subsidiaries, who had been instrumental the success recorded over the years.

â&#x20AC;&#x153;The CBN recognises that the greatest challenge confronting MSMEâ&#x20AC;&#x2122;s and local farmers is access to credit, and that to unlock the growth potentials in our country; these groups must access funding seamlesslyâ&#x20AC;?

CBN Governor,

Mr. Godwin EmeďŹ ele Continued on page 24

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

24

BUSINESSWORLD REPORT: DISCOS WEAKEST LINK IN ELECTRICITY DISTRIBUTION CHAIN

NBETâ&#x20AC;&#x2122;s payment default has forced them to default in meeting their own obligations to their lenders, as well as other vendors. â&#x20AC;&#x153;Clearly, the Discos remain the weakest link in the electricity distribution chain and the Federal government perhaps for lack of immediate solutions to the issues of discos is seeking alternatives,â&#x20AC;? it added.

The Gencos had warned that the prevailing nationwide power supply situation may decline significantly once the N701.9 billion payment assurance scheme initiated by the federal government through the Central Bank of Nigeria (CBN) and NBET is drawn down.

The N701 billion was obtained as a loan from the CBN by the NBET to enable it meet up with payments to Gencos for power supplied to the grid considering that monthly remittances of the 11 electricity distribution companies (Discos) to it for power sold to them have remained inadequate to pay the Gencos. â&#x20AC;&#x2DC;INCREASED PRIVATE SECTOR INVESTMENT CENTRAL TO NIGERIAâ&#x20AC;&#x2122;S PROSPERITYâ&#x20AC;&#x2122;

in place necessary measures that will allow them to react to rapid changes,â&#x20AC;? he added.

In his remarks, the president, Institute of Directors, (IoD), Alhaji Ahmed Mohammad, noted that the institute organises advocacy in two ways; leadership development programme especially in general knowledge and governance, risk management, and leadership.

He lamented that some of the challenges facing the country were as a result of impunity. This, he alleged was the norm in the country, both public and private firms. â&#x20AC;&#x153;We are trying to ensure that members donâ&#x20AC;&#x2122;t fall prey to these issues,â&#x20AC;? he said.

Mohammad, expressed optimism that 2019 would be more promising than 2018, adding that the institute would have the code of ethics for directors in the country, which he noted would be approved by the end of the month.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nationâ&#x20AC;&#x2122;s Capital) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritime)

NEWS

In Expansion Drive, UBA Launches Full Banking Operations in UK Obinna Chima

governments. â&#x20AC;&#x153;With the British and other European governments seeking new and improved measures to grow trade relations with Africa, we are enthusiastic on our positioning and capabilities in supporting corporates and government institutions to fulfil these lofty aspirations, which we believe are pertinent for the sustainable growth of both continents,â&#x20AC;? he added.

Elumelu, said he was pleased that UBA was living up to its mantra of being Africaâ&#x20AC;&#x2122;s global bank and positioning itself to support investors in key financial

centres across the world.

Also speaking at the event, The Group Managing Director/ CEO, Mr. Kennedy Uzoka, noted that, â&#x20AC;&#x153;UBA Group is the most efficient gateway for European corporates and institutions to access Africa, given the bankâ&#x20AC;&#x2122;s expansive network across most impact markets on the continent and its deep knowledge of the business terrains in Africa.

According to him, â&#x20AC;&#x153;Simultaneously, we are serving the trade and capital needs of our African customers, who are seeking exposure to the European markets. With the upgrade

of UBA UK Limited, we are excited to deepen our support to existing customers whilst also providing the leverage for new customers to effectively fulfil their cross-border transactions through UBA Groupâ&#x20AC;&#x2122;s network.â&#x20AC;?

On his part, the CEO, UBA UK, Mr. Patrick Gutmann said: â&#x20AC;&#x153;We are now on a stronger footing, as the authorisation of the PRA and FCA for an enhanced business model affords us the opportunity to swell our capital and balance sheet as well as the broader UBA Groupâ&#x20AC;&#x2122;s network across Africa. â&#x20AC;&#x153;We welcome our existing and

new customers to this new world of borderless opportunities, as we creatively serve our customers in meeting their international transaction needs.â&#x20AC;?

Some of the guests in attendance at the event were the President of Dangote Group, Alhaji Aliko Dangote; President, Afreximbank, Dr. Benedict Oramah, Former Prime Minister of Pakistan, H.E Shaukat Aziz, Rt Hon Lord Anthony Tudor St. John, Member of the British House of Lords and Executive Committee Member of the All Party Africa Group, amongst many others.

Three weeks after the United Bank for Africa (UBA) Group launched its operations in Mali, the financial institution has formally opened its United Kingdom subsidiary in London.

At the opening ceremony, the bank hosted a high level gathering of business and public sector leaders, where the new subsidiary was introduced to business leaders across Europe and Africa, with a commitment from the UBA Group of its readiness to galvanise trade and commerce between Europe and Africa.

The launch was sequel to the authorisation of the Prudential Regulation Authority(PRA) and the Financial Conduct Authority(FCA) for UBA UK Limited to carry out full scale wholesale banking across the United Kingdom. â&#x20AC;&#x153;With this launch, UBA Group further consolidates its unique positioning as the first and only Sub-Saharan African financial institution with banking operations in both the United Kingdom and the United States, thus reinforcing its strong franchise as Africaâ&#x20AC;&#x2122;s Global Bank, facilitating trade and capital flows between Africa and the world,â&#x20AC;? the bank explained.

Speaking at the event, the Group Chairman, UBA, Mr. Tony Elumelu, said the Group was excited by the authorisation of the relevant regulatory authorities in the United Kingdom for UBA to upgrade its operation and further fulfil its aspiration of deepening trade and investments flows between Africa and Europe. â&#x20AC;&#x153;The enhancement of our business in the United Kingdom is very timely and mutually ben- L-R: Chief Executive Officer, Baobab Microfinance Bank, Dr. Kazeem Olanrewaju; Managing Director, House of Flourish Nigeria Limited. Mr. eficial for African and European Adeyemi Ade-Flourish and the Chief Client Officer, Baobab Microfinance Bank, Mr. Bamba Fall, at the bankâ&#x20AC;&#x2122;s customersâ&#x20AC;&#x2122; forum held in Lagosâ&#x20AC;Ś corporates as well as respective recently SUNDAY ADIGUN

CUSTOMERSâ&#x20AC;&#x2122; ENGAGEMENT

NIMC Commences Diaspora Enrolment in South Africa Emma Okonji The National Identity Management Commission (NIMC), the agency mandated to manage the national identity database of the country is set to commence enrolment of Nigerian in South Africa into the national identity database for the purpose of issuing the National Identification Number (NIN). The commencement of the diaspora enrolment in South Africa was in collaboration with a licensed partner, Thebez Global Resources Limited (TGR).

The company is in the business of providing similar services in

partnership with other companies in the diaspora.

TGR is working in collaboration with Cox & Kings Global Services Limited â&#x20AC;&#x2DC;CKGS,â&#x20AC;&#x2122; a premium outsourcing partner for government and businesses across the globe, to enrol Nigerians in diaspora by setting up enrolment centres in different countries. CGSKâ&#x20AC;&#x2122;s is expected to offer consular services, identity management solutions, document processing services and an extensive suite of technology-enabled business process accelerators.

The South Africa NIN enrolment centre which is located at

205 Rivonia road, Morningside, Sandton, Johannesburg, 2057, would open for enrolment from Wednesday this week and appointments can be made via the TGR website, nin.thebezglobalresource.com as from today, according to a statement from NIMC. â&#x20AC;&#x153;Through the initiative to enrol Nigerians leaving in South Africa, it is expected that other countries will come onboard on the platform of Thebez Global Resources Limited after the South Africa pilot experience,â&#x20AC;? the statement added.

The Director General/CEO NIMC, Aliyu Aziz, explained

that the diaspora exercise was in a bid to ensure that the section of Nigerians living outside the country were not disenfranchised.

According to him, six Nigerian companies have been licensed to work with their respective partners across all countries in Africa, Asia, Europe and America to carry out the enrolment of Nigerian adults and children in the diaspora into the countryâ&#x20AC;&#x2122;s national identity database. â&#x20AC;&#x153;They will be issued with the National Identification Number upon enrolment and subsequently the General Multipurpose Card (GMPC),â&#x20AC;? Aziz said.

He also assured that requisite standard, guidelines and regulations have been put in place to ensure the effective implementation of the National Identity Management Systems (NIMS) as well as provide the right platform for providing digital identity for Nigerians and legal residents as well as Nigerians in diaspora.

The licensed Nigerian companies are Biosec Solutions Limited, CHAMS Consortium Limited, Defcon Systems Limited, National eAuthentication Limited, Thebez Global Resources and Venn Technology Limited.

ABX World, SAHCO Seek to Ramp Up Nigeriaâ&#x20AC;&#x2122;s Exports Chinedu Eze The ABX World in partnership with the Skyway Aviation Handling Company Plc (SAHCO) has disclosed plan to create a logistics initiative to bring down the cost of delivering Nigeriaâ&#x20AC;&#x2122;s fresh agro productsâ&#x20AC;&#x2122; exports to various European and other global markets.

The initiative seeks to ramp up Nigeriaâ&#x20AC;&#x2122;s exports to 292000 tonnes per annum (800 tons per day).

The two companies disclosed this at the weekend, during a

strategic meeting with agroexporters, farmers and Flour Mills Nigeria Plc, held in Lagos.

The move, according to the organisations, was in response to the challenges faced by Nigerian exporters, which have diminished their competitiveness in the international market while forcing agro products to rot away between farm gates and the market places.

Lamenting the bottlenecks created by government agencies, which have imperilled the agro export business while lots of ef-

forts to bring a change have not yielded results, the organisations resolved to move ahead with their own solutions.

Speaking at the meeting, the Managing Director of ABX World, Captain John Okakpu said, â&#x20AC;&#x153;We have decided to take a different turn on how to reduce the logistic cost, and we have an alternative solution, while waiting for the government, that will at least take us off the ground. â&#x20AC;&#x153;Our people are suffering and we really need to engage the government to review some

of the policies with regards to export. So the logistics cost we have now is quite reasonable and I believe within the next two months it is going to explode and it is going to get better and I am going to assure you that we are here to stay. â&#x20AC;&#x153;Our ultimate goal is to do about 600 to 800 tonnes every day.

The facilities and the structures in place are the reasons we are here today like the operation manager of SAHCO said, they have a cold room completed for more than two years ago and has

not been used. So, the issue of damage or products not being fresh, SAHCO has resolved that.â&#x20AC;?

He said the reasons why his company chose to work with SAHCO was because it was ready to invest in the structures and infrastructures needed in the industry.

Commenting on the readiness of SAHCO, its Managing Director, Basil Agboarumi, said that the company foresaw the need for adequate facilities to ensure preservation of agro-products for export.

25

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BUSINESSWORLD

MARKET REPORT

Equities Market Declines Further Despite High Trading Volume Goddy Egene The Nigerian equities market extended its negative performance last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) declined further by 2.12 per cent to close at 31,827.24.

Similarly, market capitalisation fell by same margin to close at N11.869 trillion. Last weekâ&#x20AC;&#x2122;s decline was worse than the 0.61 per cent of the previous week.

However, volume and value of shares improved as investors traded 1.752 billion shares worth N19.681 billion in 22,319 deals compared 1.481 billion shares valued at N17.647 billion that exchanged hands the preceding week.

Apart from the NSE ASI that declined, all other indices finished lower with the exception of the NSE Insurance and NSE Industrial Goods indices which rose by 3.01 per cent and 0.93 per cent respectively while the NSE ASeM index closed flat.

Given the conclusion of the presidential elections, which reduced the political uncertainty, it was expected that the market would witness a positive performance last week. Also, the release of corporate earnings by firms for the year ended December 31, 2018, was expected to stimulate demand for stocks. But reverse was the case.

According to some market operators, investors were not a hurry to return to the market despite the conclusion of presidential election. â&#x20AC;&#x153;Only investors whose focus is long-term will not put so much emphasis on political risk because they know the market would bounce back once a president is sworn in May,â&#x20AC;? a broker, Mr. Sam Oguntayo said.

The current performance of the market does not come to many stakeholders as a surprise because they had projected that the market would stabilise and recover in the second half of the year.

In her opinion, the Group Chief Executive Officer of Emerging Africa Capital Group, Mrs. Toyin Sanni, had said the general expectation was that the first half 2019 would be more of the same as last year because investors would adopt a wait-and- see approach due to the elections. â&#x20AC;&#x153;Investors will wait to see how the elections are accepted and confirm that there will be peace in the post-election period up till May 29, which will be the day the new government will be sworn into office,â&#x20AC;? she said.

According to her, investors generally just want stability and peace, stressing that the parameters remain positive for Nigeria from a long-term perspective. â&#x20AC;&#x153;Nigeria remains an attractive because of its size, demographics because of the continued activities of SMEs which are the drivers of this economy, because of how we have embraced the digital economy as a people and a nation because we are still a resources rich country. â&#x20AC;&#x153;But investors would want to see that there is a stable government, there is peace and government is accepted by the people, investors will want to see they can expect the right economic policy and the policies will be implemented in a consistent manner,â&#x20AC;? she had explained.

More companies announced their results last week, recommending dividends. Dangote Cement Plc and African Prudential Plc reported their results, declaring dividends

of N16 and 50 kobo per share respectively.

Dangote Cement Plc posted a revenue of N901.21 billion, with Nigerian operations accounting for N618.30 billion, representing an increase of 11.9 percent over N552.36 billion in 2017.

Profit after tax stood at N390.32 billion, up from N204.25 billion while earnings per share rose from N11.65 to N22.83.

Commenting on the results, Group Chief Executive Officer, Dangote Cement, Joe Makoju, said: â&#x20AC;&#x153;This is a record financial performance by Dangote Cement, driven by a strong increase in our home market, Nigeria, despite heavy rains and uncertainties about the election. Although PanAfrican volumes were unchanged in 2018, I am confident that we will see an increase in 2019, driven

by higher volumes in Tanzania, Ethiopia, Congo and Sierra Leone.

Now that we have gas turbines operating in Tanzania we will also see increased profitability in the Pan-Africa region and this will help to improve overall Group margins.â&#x20AC;?

Market Turnover Meanwhile, a further analysis of the market turnover for the

week showed that the Financial Services Industry remained the most traded, recording 1.377 billion shares valued at N11.311 billion traded in 14,180 deals. The sector contributed 78.63 per cent and 57.47 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 115.142 million shares worth N168.128 million in 1,126 deals. The third place was Consumer Goods Industry with a turnover of 113.079 million shares worth N6.051 billion in 2,993 deals. Trading in the top three equities namely, Diamond Bank Plc, Access Bank Plc and Zenith Bank Plc accounted for 594.377 million shares worth N4.757 billion in 4,315 deals, contributing 33.93 per cent and 24.17 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 101,254 units of Exchange Traded Products (ETPs) valued at N577,835.06 executed in 19 deals compared with a total of 23,701 units valued at N3.020 million that was transacted previous week in four deals.

Similarly, a total of 25,740 units of Federal Government Bonds valued at N26,597 million were traded last week in 22 deals compared with a total of 5,845 units valued at N6.158 million transacted two weeks in 18 deals.

Price Gainers and Losers The price movement chart showed that 26 equities appreciated in price during the week, lower than 34 in the previous week, while 38 equities depreciated in price, the same as the previous week. Cornerstone Insurance Plc led the price gainers with 19.0 per cent, trailed by Livestock Feeds Plc with 15.5 per cent. Veritas Kapital Assurance Plc with 14.2 per cent. C & I Leasing Plc went up by 9.9 per cent just as Neimeth International Pharmaceuticals Plc 9.8 per cent. Neimeth last week announced the appointment of a new managing director, Mr. Matthew Azoji, a development stakeholders said would consolidate the performance of the company going forward.

The new MD graduated from the Obafemi Awolowo University, IleIfe, Osun State, where he obtained his B. Pharm (first class honours).

He went on to obtain an MBA (Marketing) from the Enugu State University of Science and Technology, Enugu, and an Advanced Management Programme (AMP) from the Lagos Business School; Pan Atlantic University, Lagos.

With his wealth of experience in the Pharmaceutical Industry, Azoji is expected to drive the activities of the company towards a greater future. A.G Leventis Nigeria Plc was also among the price gainers, chalking up 9.6 per cent. Newrest ASL Nigeria Plc, which has applied for voluntary delisting chalked up 9.3 per cent. Niger Insurance Plc and PZ Cussons Nigeria Plc garnered 9.0 per cent and 8.3 per cent in that order.

Conversely, Transcorp Plc led the price losers with 14.4 per cent, followed by NPF MFB Plc with 12.7 per cent. Oando Plc shed 11.5 per cent, while Unilever Nigeria Plc and Goldlink Insurance Plc went down by 10.0 per cent and 8.3 per cent respectively.

Wema Bank Plc and Eterna Plc shed 8.3 per cent apiece, just as Japaul Oil & Maritime Services Plc, Access Bank Plc and FBN Holdings Plc dipped by 8.0 per cent, 7.8 per cent and 7.1 per cent in that order.

26

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

â&#x20AC;&#x2DC;MSMEs Represent 96% of Business Activities in Nigeriaâ&#x20AC;&#x2122; The Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr Dikko Umaru-Radda, has said MSMEs represent 96 per cent of business activities in the county.

Umaru-Radda said this in Bauchi at the unveiling of the Conditional Grant Scheme (CGS). Making reference to a survey, he said 37 million MSME engaged 59.7 million persons. This, he said is 84.2 per cent of labour force and contributes 7.27 per cent of the nationâ&#x20AC;&#x2122;s Gross Domestic Product (GDP).

The News Agency of Nigeria (NAN), quoted him to have said 90 per cent of the micro enterprises are informal and populated by people at the bottom of the pyramid, hence the introduction of Condition Grant Scheme (CGS) for micro enterprises in Nigeria.

He said the process would enable informal enterprises metamorphosis into formal sector, industrialise the nation, develop the rural economy, stem youth restiveness and unemployment as well as create sustainable economy growth and development.

The DG said the present move would target capacity building and post-intervention support services such as

access to finance, markets, workspace and technology, among others.

He recalled that the scheme was first introduced in 2017 in 145 Local Government Areas of Katsina, Gombe, Ebonyi, Oyo, Akwa Ibom and Benue States.

According to him, 13,000 enterprises in those areas benefited from entrepreneurship training, formalisation of registration of businesses, provision of insurance and access to finance through grant of N50,000.

Umary-Radda, said the agency had decided to extend the scheme to Lagos, Bauchi and Sokoto States, targeting 6,000 beneficiaries, to encourage job creation, business formalisation, improved productivity and capacity enhancement of the operators. â&#x20AC;&#x153;The scheme would move the micro enterprises from the earlier informal to formal, create jobs, wealth and alleviate poverty in the society â&#x20AC;&#x153;Others are enhancing competition of these enterprises towards meeting national, regional and global standards as well as improving internally generated revenue to reduce dependence on oil revenue,â&#x20AC;? he said.

He said the agency would work in partnership with banks, office of the Federal Inland Revenue Service, business development service providers, state and local governments, insurance companies and Corporate Affairs Commission.

Governor Muhammed Abubakar of the state, while speaking at the occasion, said that the scheme would stimulate the generation of revenue in the state.

He urged the beneficiaries to make judicious use of the funds to be granted to them towards industrial development of the state.

One of the beneficiaries, Karimatu Aliyu, who spoke on behalf her colleagues, thanked the federal government for the gesture and promised to utilize the funds properly.

The News Agency of Nigeria (NAN), reported three groundnut oil and rice processing cooperative societies in the state benefitted from the scheme, with each member receiving a cheque of N50,000.

The groups are Gugulin Gaina Women Widows Processors Cooperative Society Ltd, Misau; Nasarawa Rice Farmers Cooperative Society, Azare and Fahimta Women and Youth Development Initiative, Kirfi.

WTO Boss Seeks End to Trade Tension The Director-General of the World Trade Organisation (WTO), Roberto AzevĂŞdo, has said the trading system must evolve if it is to have a bright future.

AzevĂŞdo described the risks posed by the current trade tensions, which he said brought the need to address the challenges in the trading system into even sharper focus.

The WTO boss said this at a meeting with full WTO membership.

He explained: â&#x20AC;&#x153;We must do more to make the WTO faster and more responsive to membersâ&#x20AC;&#x2122; needs. We have achieved a lot in recent years.

Since 2013 we have delivered new agreements in a variety of shapes and sizes. â&#x20AC;&#x153;We must find ways to keep evolving if the system is to have a chance. Multilateralism will not survive

if it becomes a synonym of paralysis. â&#x20AC;&#x153;We must also tackle the impasse in the WTO Appellate Body. This situation is clearly of utmost concern and urgency. Dialogue is improving and I believe we must start thinking about all possible options at this point. â&#x20AC;&#x153;People are looking at December as the deadline.

But the reality is that the situation in December is already affecting decisions today. Members need to come up with answers and start working on all possible options now, not in December.

We do not have 10 months to play with.â&#x20AC;?

He added: â&#x20AC;&#x153;Looking across all of these issues, I cannot think of a moment when the systemic threats have been greater. But I also believe that we have a political window to act.

â&#x20AC;&#x153;It could be said that one positive aspect of the current trade tensions is that it has encouraged members to speak up in support of the multilateral trading system â&#x20AC;&#x201C; and for multilateralism more broadly. â&#x20AC;&#x153;And I am very grateful for this support. It is our duty to remind the world at every opportunity how much multilateral cooperation matters â&#x20AC;&#x201C; and, importantly, how much our organization matters.â&#x20AC;?

The Director-General also reviewed progress on various issues under discussion at the WTO. He noted the progress that was being made in the negotiations on tackling fisheries subsidies, which would deliver on Sustainable Development Goal 14.6, and called on members to be ready to engage at the political level in order to

EFG-Hermes Weighs South-east Asian Acquisition EFG-Hermes Holding SAE is considering an expansion into South East Asia as Egyptâ&#x20AC;&#x2122;s biggest investment bank seeks to grow in emerging markets.

The Cairo-headquartered company, which operates in 12 countries, is â&#x20AC;&#x153;looking at potentially one or twoâ&#x20AC;? new markets this year, its Chief Executive Officer Karim Awad, said in an interview with Bloomberg Television in

Dubai yesterday.

The investment wonâ&#x20AC;&#x2122;t be â&#x20AC;&#x153;too bigâ&#x20AC;? and would involve â&#x20AC;&#x153;building market share from the ground up,â&#x20AC;? he said.

EFG-Hermes, the top adviser for initial public offerings in MENA last year, bought Nigerian brokerage and research firm Primera Africa Securities Limited, in July, as part of its broader African expansion.

The investment bank, which

obtained a stockbroking licence in Kenya in 2017, plans to use Nigeria as a regional hub.

The bank this year plans to focus on consolidation in markets its recently entered, including those in Africa, Pakistan and Bangladesh.

The company also sees an opportunity to expand in Vietnam, Ali Khalpey, the companyâ&#x20AC;&#x2122;s CEO of its frontier unit said in November.

INSIDE BROAD STREET

BuhariandNigeriaâ&#x20AC;&#x2122;sDire Needfor EconomicRenaissance

Buhari

Obinna Chima The Independent National Electoral Commission (INEC) last week announced President Muhammadu Buhari as the winner of the presidential election, thus securing his secondterm as president.

To be declared the winner, a candidate needs a majority of votes cast and at least 25 per cent of the votes in 24 or more of the 36 states.

The incumbent secured 56 per cent of the total votes and won in 19 states to clinch victory against the main opposition, the Peoples Democratic Party (PDP) candidate, Atiku Abubakar who got 11 million votes.

Therefore, following his re-election for another term of four years, experts have stressed that the presidentâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;NextLevel,â&#x20AC;&#x2122; expected to commence on May 29th, should focus on major economic reforms in order to stimulate growth in the economy.

For a Professor of finance and capital market at the Nasarawa State University, Prof. Uche Uwaleke, the presidentâ&#x20AC;&#x2122;s agenda should revolve around the three pillars on which his administrationâ&#x20AC;&#x2122;s transformation agenda was anchored.

According to him, tackling corruption and insecurity- both of which had negatively impacted the economy in the last four years, should be the focus of Buhariâ&#x20AC;&#x2122;s second term.

He said: â&#x20AC;&#x153;The president should intensify efforts at tackling corruption and insecurity â&#x20AC;&#x201C; two key factors that negatively impact the economy, especially the farmers-herders conflict, which shuts out agricultural output and drives up inflation rate.â&#x20AC;?

Also, analysts at Lagos-based CSL Stockbrokers Limited, noted that in his second-term, President Buhari is faced with accelerating economic growth amid a tight fiscal environment, repressing insurgency and terrorism that has bedevilled the northern region for up to a decade. â&#x20AC;&#x153;Following his re-election, we do not envisage significant changes in macro-economic fundamentals. We also believe that changes in the business environment will be muted.â&#x20AC;?

The Chief Executive Officer, Eczellon Capital, Mr. Diekola Onaolapo, anticipated that the next four years would be characterised by the implementation of some of the key economic tenets of the Economic Recovery and Growth Plan (ERGP), increased pressure on tax defaulters as the government aims to increase the tax revenue of the country and also, the conceptualisation and implementation of policies which would improve the countryâ&#x20AC;&#x2122;s Ease of Doing Business ranking. â&#x20AC;&#x153;We also expect to see more direct market intervention or social improvement strategies like the MarketMoni and TraderMoni. â&#x20AC;&#x153;On the effects on the debt and capital market, we expect that investors will return to the nationâ&#x20AC;&#x2122;s financial market,â&#x20AC;? he added.

The Group Managing Director, VFD Group Plc, Mr. Nonso Okpala, said most players in the business community would want to see good governance, conducive business environment, increased security and the rule of law. â&#x20AC;&#x153;We would consistently support initiatives that would ensure that we get good environment to run our business,â&#x20AC;? Okpala said.

The CEO, Cowry Assets Management Limited, Johnson Chukwu, said: â&#x20AC;&#x153;One expects that given that political uncertainty has been lifted, most of the economic indicators would begin to show some recovery. â&#x20AC;&#x153;The fact the government in the first four years was welfarist does not mean the government would continue to be welfarist. â&#x20AC;&#x153;I think the government should seat back, review and analyse its economic policies and I expect more rigour in terms of economic focus in this government.â&#x20AC;?

The foregoing clearly calls for the president to pay greater attention to reset the economy.

This is more important considering that an economy that was growing at an average annual Gross Domestic Product (GDP) rate of about six per cent, prior to when the president was elected in 2015, has continued to totter, as it managed to achieve 1.93 per cent annual growth rate in 2018, after slipping into recession in 2016. More worrisome is the fact that Nigeriaâ&#x20AC;&#x2122;s population growth rate of about 2.7 per cent has completely overtaken economic growth, which has dire consequences on standard of living and allocation of resources in the country.

In fact, the president has to be worried that GDP per capita, i.e. the average income per person for a country that is the largest economy in Africa, in 2018 was estimated at about $2,050 whereas that for South Africa is about $7,500.

Another matter that should worry Buhari in his second term is the rising unemployment rate in the country as well as rising incidence of poverty in Nigeria.

The countryâ&#x20AC;&#x2122;s unemployment rate had worsened in the third quarter of 2018 as it rose from 18.8 per cent in third quarter 2017, to 23.1 per cent in the third quarter of 2018, the National Bureau of Statistics (NBS) had revealed.

According to the NBS, the total number of people classified as unemployed-which means they did nothing at all or worked for a few hours (under 20 hours a week) rose from 17.6 million in Q4 2017 to 20.9 million in Q3 2018.

President Buhari should also be more worried that over 91 million Nigerians, mostly, those who voted for him, now live in extreme poverty, according to a recent report. Today, at least three million Nigerians have slipped into extreme poverty between November 2018 and February 2019, according to the World Poverty Clock, created by Vienna-based World Data Lab. In addition, the president would be eternally remembered if he can resolve Nigeriaâ&#x20AC;&#x2122;s perennial electricity challenges, which is a major hindrance to businesses flourishing, even as Nigerians look forward to policies that would genuinely drive the countryâ&#x20AC;&#x2122;s quest for economic diversification, with a concrete path to a post-oil Nigeria.

He must strive to create a conducive environment for innovation to thrive.

Finally, all these can be achieved if the president can do away with some current members of his economic management team and ministers who in almost four years have displayed incompetence and clog the wheels of progress.

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

27

Ethiopian Airlines Takes Delivery of B737 Freighter Chinedu Eze Ethiopian Airlines has announced that it has taken delivery of its first B737-800 freighter, the first of its kind in the Ethiopian Cargo fleet mix, on March 01, 2019.

Reacting to the delivery, Group CEO of Ethiopian Airlines, Mr. Tewolde GebreMariam, said, â&#x20AC;&#x153;We are excited to have

taken delivery of the newest freighter a few days after being crowned with â&#x20AC;&#x2DC;African Cargo Airline of the Yearâ&#x20AC;&#x2122; and â&#x20AC;&#x2DC;Air Cargo Brand of the Year in Africaâ&#x20AC;&#x2122; Awards for the fourth year in a row. â&#x20AC;&#x153;The arrival of this new freighter is a significant addition and propels both our capacity and frequency. The B-737-800 Freighter will give us a new

capability to serve short haul destinations in African and the Middle East more economically which includes the export of Ethiopian meat, fruits and vegetables to the Gulf Region. â&#x20AC;&#x153;As per our strategic roadmap, Vision 2025, we will keep introducing new systems and technologies and play an indispensable role to the socio-economic development

of Ethiopia and Africa at large.â&#x20AC;?

Developed with the industryâ&#x20AC;&#x2122;s most efficient and reliable technology, the new B737-800 freighter aircraft is the newest member of the freighter family and offers greatest efficiency for the standard-body freighter market.

The freighter has a carrying capacity of more than 23 metric tons of payload with

excellent operating economics to maximise efficiency for cargo operations.

Operating 10 next generation dedicated freighters and with Africaâ&#x20AC;&#x2122;s largest trans-shipment terminal, Ethiopian Cargo and Logistics Services delivers cargo services spanning across 44 international destinations in Africa, the Gulf, Middle East, Asia, the Americas and

Europe, augmenting the export of perishables from Africa and import of high value goods.

By 2025, Ethiopian Cargo & Logistics Services envisions to become a full-fledged profit center of Ethiopian Airlines Group with annual revenue of US$ 2 Billion, 19 dedicated aircraft, annual tonnage of 820,000, and 57 international destinations.

NBC Appoints New Communications Director Raheem Akingbolu The Nigerian Bottling Company (NBC) Limited, a member of Coca-Cola Hellenic Bottling Company, has formally announced the appointment of Ekuma Eze as the Public Affairs and Communications Director effective from this month.

In a statement issued by the company and signed by the Managing Director, George Polymenakos, Eze is expected to bring his robust wealth of experience to bear by consolidating on the companyâ&#x20AC;&#x2122;s strategic business growth trajectory and developing talents in the Public Affairs and Communications team, to deliver on the companyâ&#x20AC;&#x2122;s strategic goals.

In this new role, he is also expected to build on the good reputation of the company amongst members of the public, stakeholder groups as well as effectively manage every aspect of NBCâ&#x20AC;&#x2122;s corporate relations.

Eze joined Nigerian Bottling Company (NBC) Limited in February 2010 as Regional Manager, Public Affairs and Communications for the company and was responsible for supporting the objectives of the company through strong relationships and effective communications with all

stakeholders as well as coordinating timely execution of its sustainable CSR programs, among other tasks.

Prior to this appointment, he was the Country Manager, Corporate Social Responsibility, saddled with the task of developing sustainability strategies and implementing them in support of NBCâ&#x20AC;&#x2122;s strategic business priorities as well as conceptualising, developing and facilitating the implementation of projects related to the companyâ&#x20AC;&#x2122;s commitment to community relations.

Before joining NBC, he spent a couple of years in the banking industry where he managed media relations, internal communications, brand management, Corporate Social Responsibility and External Relations for three different banks. Eze also had a stint with journalism in Daily Independent Newspapers where he distinguished himself as a political reporter and production editor and later moved on to the banking industry from where he joined NBC. Eze is a graduate of English Studies from the University of Port Harcourt, Rivers State, where he bagged the prestigious University of Port Harcourt Best Graduating Student Award in 1997.

Group Organises â&#x20AC;&#x2DC;Save Lagos Forumâ&#x20AC;&#x2122; Akinluyi said: â&#x20AC;&#x153;I want the Hamid Ayodeji

The Babajide Sanwo-Olu, Kadiri Obafemi Hamzat (BOSKOH) campaign group has organised a â&#x20AC;&#x2DC;Save Lagosâ&#x20AC;&#x2122; forum to enlighten students, security agencies and youths at Epe Local Development Area, on the benefits of maintaining a violence- free atmosphere during elections.

The group urged the youths, security agencies, and students to save Lagos from the hands of violence and unjust electoral conducts. They stressed the need for voters to make their voices heard by voting peacefully and for the candidate they believe can bring development in the state and the country as a whole.

Disclosing this at a media briefing, the coordinator BOSKOH campaign group, Mrs. Yetunde Akinluyi, explained that youths are no longer the leaders of tomorrow but the leaders of today, and that they have the influence and right to play leadership roles, and advocate for peace, in order to save Lagos and the country from a violent and unjust election.

youths to make the bold decision that they are not going to be used to create any form of violence and misconduct.

If any one comes to you telling you to go and fight refuse their offer. Reject any offer that requires you going to snatch ballot boxes. All we want is a peaceful transmission of power, because it is a peaceful society that can experience economical and social development.â&#x20AC;&#x2122;â&#x20AC;&#x2122; Meanwhile, the Assistant General of National Association of Student Union, South west, Odufuwa Idris, stated that students and youths are supposed to be the biggest advocate for peace in the country. â&#x20AC;&#x153;We are also using this medium to thank the leadership of Governor Ambode for the restructuring and development he has brought to Epe,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he added.

Also speaking at the event, the Chief Executive Officer, ProCare Suites and Resorts, Segun Osifeko, said as an advocate of peace, he was looking forward to a peaceful election, even though some people were predicting otherwise.

IMPACT ASSESSMENT

L-R: Market Editor, West Africa, CNBC/Moderator, Wole Famurewa; Senior Lecturer, Lagos Business School (LBS), Dr. Doyin Salami; Director, Strategy, Partnership and Stakeholder Management, Lagos State Employment Trust Fund (LSETF), Abosede Alimi; Group Chief, Sustainability and Governance, Dangote Industries Limited, Dr. Ndidi Nnoli-Edozien and Founding Partner, Ventures Platform Limited, Mr. Kola Aina, at the official presentation of a report on LSETFâ&#x20AC;&#x2122;s impact, progress and lessons in Lagos ...recently.

Awosika Advocates Increased Support for Entrepreneurs to Drive Economic Growth Ugo Aliogo The Chairman of First Bank of Nigeria Limited, Mrs. Ibukun Awosika, has stressed that entrepreneurship is a key driver for economic growth and job creation.

Awosika, stated this at the weekend in Lagos, at the bankâ&#x20AC;&#x2122;s 125 anniversary flag hoisting.

She noted that as an institution, the bank has been aggressive in terms of helping to develop the minds of entrepreneurs, â&#x20AC;&#x153;apart from funding, because we realise that money is part of the issue, but money is not all the issue involved.â&#x20AC;?

She noted the bank acknowledged the passion displayed entrepreneurs in the country,

even as she pointed out the knowledge gap among entrepreneurs in the country.

Awosika, explained that the bank has continued to invest heavily in organising programmes to develop the skills and knowledge among entrepreneurs. In his remarks, the Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan, noted that the bank has been resilient and supportive through periods of rapid and radical changes.

According to him, First Bank has continued to pioneer and charted the course in the industry and the nation.

Adeduntan, added that supporting host communities to promote sustainable develop-

ment and putting customers first in all business activities are some of the many secrets of the bankâ&#x20AC;&#x2122;s long existence.

The CEO further noted that the financial institution is now building on its next 125 years and beyond. Continuing, Awosika added: â&#x20AC;&#x153;We have certain kind of partnership that we have been involved in. We have worked very closely with the Bank Of Industry (BOI) as a partner to develop the kind of sustainable financing that Small Medium Scale Enterprises (SMEs) can apply for because what we sell is based on cost at which we get the money. â&#x20AC;&#x153;If you give us deposit and expect us to pay 13 per cent interest, we cannot give out

a loan at anything below that because we are going to add cost. â&#x20AC;&#x153;Generally, commercial bankâ&#x20AC;&#x2122;s money is sometimes expensive for SMEs, because of their size and their scale. â&#x20AC;&#x153;So part of what we have done is not to think about our own profit, but to think about the industry and how to grow the economy which is why we have partnership with organisation such as BOI so that we can organise the type of funding that is at a more manageable cost that will support SMEs in their different spheres. â&#x20AC;&#x153;We are aggressive involved in agriculture because we understand that agro-allied value chain is major to the Nigeria economy.â&#x20AC;?

LSETF Presents 3-Year Social Impact Report The Lagos State Employment Trust Fund (LSETF) has presented a social impact assessment report of its entrepreneurship programmes.

A statement from the agency disclosed that the presentation was done in Lagos.

The Impact Assessment Exercise carried out with support from Ford Foundation, measured the achievements of the Fundâ&#x20AC;&#x2122;s interventions, documented the lessons learnt, and made recommendations on how to enhance the Fundâ&#x20AC;&#x2122;s performance in future.

The report titled, â&#x20AC;&#x2DC;LSETF Impact: Progress and Lessonsâ&#x20AC;&#x2122;, highlighted the following: 7,817

MSMEs have been funded by the LSETF under its MSME Loan Programme; 89 per cent of businesses have been able to pay back loans solely from business income and profits; 70 per cent of beneficiaries who were unable to access funding before the LSETF intervention recorded positive improvement; and 70 per cent of the beneficiaries hired at least one person, among others.

The LSETFâ&#x20AC;&#x2122;s interventions created a total of 89,678 jobs.

The Fund also enabled the inclusion of 41,515 taxpayers in the Lagos State governmentâ&#x20AC;&#x2122;s tax net. Commenting on the results of the report, the Execu-

tive Secretary of the LSETF, Mr. Akintunde Oyebode said; â&#x20AC;&#x153;I am very pleased that Ford Foundation partnered with us to carry out this independent assessment of the impact of the LSETF initiative and its operations. â&#x20AC;&#x153;The outcome has been very insightful and has thrown up indicators to areas that need improvement. At LSETF, we believe it is important to measure impact, to ensure we improve the benefit received from the public and private capital entrusted to us. By providing this body of work, we also hope that other institutions within and outside Nigeria, learn from

our experience, and are able to design even better programmes to put people in jobs.â&#x20AC;?

In his remarks at the forum, the Regional Director, Ford Foundation, Mr. Innocent Chukwuma said: â&#x20AC;&#x153;It is impressive that the LSETF as an agency of the government has done a laudable job even in the face of growing skepticism of the impact of special programmes by the government to solve social problems. â&#x20AC;&#x153;It is important that an agency created few years ago has decided to embark on what is usually not the norm, to check how it has performed and the lessons learnt in other to make future plans.

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Financial Sector: Redefining Broader Sense of Purpose Christine Lagarde So let me start with a Hollywood story. As you may know, Disney was recently faced with the challenge of creating a sequel to the original Mary Poppins movie, which has delighted children and adults for more than half a century.

The producers of the new film recreated the magical nanny from P.L. Traversâ&#x20AC;&#x2122;s books, but they also featured a new cast of charactersâ&#x20AC;&#x201D;including a villain who could give everybody a good scare.

That villainâ&#x20AC;&#x201D;yes, you guessed itâ&#x20AC;&#x201D;is a slick banker who is cheating his way to fortune. In the end, of course, the villain is defeated with a touch of magic.

So here is the question: why is the banker the villain? After all, a healthy economy requires a healthy financial sector that is at the service of people as they pursue better lives for themselves and their children.

You might call it the â&#x20AC;&#x153;everyday magicâ&#x20AC;? of finance: helping families buy a home or save for retirement; helping businesses raise capital to support growth and employment; and helping ordinary people manage risks and prepare for a rainy day. That is what most financial professionals do every day, with dedication and a sense of pride.

And yet, despite these good aspects, the caricature of the â&#x20AC;&#x153;bad bankerâ&#x20AC;? has resonated with audiences since the dawn of civilization. And its latest versionâ&#x20AC;&#x201D;seen by millions of children around the worldâ&#x20AC;&#x201D;is telling us something about the deeply felt sense of unease about the role of finance in todayâ&#x20AC;&#x2122;s world.

It does not take magic to trace much of this most recent frustration back to the global financial crisis, which has left painful economic and psychological scars on millions of people. We know also that many people are angry about the steady drip-drip of financial scandals and misconduct that have occurred all over the world.

Indeed, financial globalization has been one of the key drivers of what Theodore Roosevelt called the â&#x20AC;&#x153;swollen fortunes for the fewâ&#x20AC;?. It seems we may now be in a new Gilded Age, with high economic inequality and low social mobility. On Wall Street, for example, overall compensation levels have been reaching record highs, and there is a similar trend of moving back to pre-crisis pay levels in other financial centers.

No wonder that growing concerns about finance can be heard across the political spectrumâ&#x20AC;&#x201D;and not just about the issues of the day, but about the fundamental purpose of this industry. In too many cases, the financial sector has strayed from its original, noble purpose. And too often, it has worked hard to serve itself rather than serve people and the economy at large.

Surely, there must be a better way forwardâ&#x20AC;&#x201D;which brings me to my theme: I believe that we can build a better financial sectorâ&#x20AC;&#x201D;one that is safer, more sustainable, and ethically sound. A financial industry with a broader sense of purpose.

In this vein, the U.K. has launched a national conversation on how to enhance the social impact of investingâ&#x20AC;&#x201D;furthering the goal of doing good while making a return.

This goal is not just morally just; it is economically right. Why? Because a better financial sector is more important than ever to help deliver on what our 21st century so badly needs: higher employment, greener growth, and good living standards for all.

The key to achieving this goal is to reshape finance into something that is more aligned with societal values and more connected to the interests of all stakeholders: from customers, to workers, to shareholders, to local communities and future generations.

To do this, we will need more than just a touch of Maryâ&#x20AC;&#x2122;s famous brolly. So let me propose two questions: r'JSTU IPX DBO XF NBLF UIF Ă OBODJBM TZTUFN saferâ&#x20AC;&#x201D;to encourage the good, not the bad, side of finance? r4FDPOE IPX DBO UIF Ă OBODJBM TFDUPS TVQQPSU long-term growth that is more sustainable and more inclusive?

1.How can we make the system safer?

Let me begin with a simple observation: if finance is to become safer and more trustworthy, it will need to harness good innovation, better regulation, and a broader sense of responsibility. a) Good innovation Students of history will tell us that these issues IBWF SFTPOBUFE UISPVHI UIF BHFT 'PS POF JU JT remarkable just how much influence financial

Lagarde innovation has had on human progress. Think of its instrumental role in the development of writing, mathematics, accounting, and probability theory.

Consider Chinese paper money introduced in the 9th century, or the 13th century Venetians who eagerly bought prestiti, the first true government bonds. And think of how we can draw a line from the first stock exchangesâ&#x20AC;&#x201D;in Antwerp and Amsterdamâ&#x20AC;&#x201D;to our modern investment apps that put the global financial markets at our fingertips.

At the same time, history tells us about unsustainable credit booms and speculative bubbles that were driven by bright new financial ideas.

In ancient Romeâ&#x20AC;&#x201D;in the year 33 ADâ&#x20AC;&#x201D;land prices crashed after noble families took out loans to bet on ever rising land prices. Ultimately the government of Emperor Tiberius bailed out the investors by extending three-year, interest-free budgetary loans. How do we know this? Tacitus himself briefly described this financial crisis in his final works.

But this is only one of many examples. In the 17th century Tulip Mania, it was a new market for futures contracts. In the 18th century South Sea Bubble, it was the promise of a mythical new land. In the 19th and 20th century, it was often new technology, from the Railway Mania to the dot.com bubble.

And of course, in the run-up to the global financial crisis, it was financial engineering that helped drive a frenzy of reckless risk taking. So, when Lehman Brothers collapsed, policymakers were facing what I once referred to as a â&#x20AC;&#x153;holy cowâ&#x20AC;? momentâ&#x20AC;?.

The most striking thing for all of us back then was the incredible fragility of so many advanced economy banks. At their very core, these firms had been weakened by inadequate equity capital, flawed business models, and the blindness of powerful menâ&#x20AC;&#x201D;a toxic combination that left taxpayers on the hook for massive bank bailouts.

'BTU GPSXBSE UP UIF QSFTFOU BOE UIF RVFTUJPO is whether financial systems are safer today. The short answer is that they are safer, but not safe enough. b) Better regulation The good news is that, over the past decade, countries have worked together to reform global financial regulations to help rebuild trust and restore financial health. This ambitious effortâ&#x20AC;&#x201D;in which UIF *.' UIF '4# UIF ( BOE NBOZ PUIFST IBWF been involvedâ&#x20AC;&#x201D;has made a substantial difference.

Banks have much higher capital and liquidity positions. Big banks face tighter regulation, and their leverage is lower.

Winding down failing banks has become much easier in all major jurisdictions and in many emerging economies. And a big chunk of the derivatives market has become significantly more transparent.

This is all good, but still not good enough.

We need further efforts to address the potential dangers of â&#x20AC;&#x153;too-big-to-failâ&#x20AC;? as banks become even bigger and more complex. In the United States, for example, the top five banks now hold about 45 percent of tot al banking assets, compared with about 40 percent in 2007.

Meanwhile, leading economists and industry experts have been calling for further increases

in equity fundingâ&#x20AC;&#x201D;beyond the current capital requirementsâ&#x20AC;&#x201D;to ensure that banks can withstand a potential storm.

Others are not so sureâ&#x20AC;&#x201D;because further increases in equity funding might come with negative side-effects, such as reduced lending.

So far, the evidence points to relatively small costs of higher capital.

Above all, we must be concerned about increasing efforts to roll back some post-crisis regulations.

Countries need to resist these pressures. Indeed, they need to push on because more work and political will are required to fully implement the existing reforms.

And even as policymakers are still internalizing the lessons from the last crisis, they need to be WJHJMBOU BCPVU OFX SJTLT 'PS FYBNQMF UIF *.' has recently estimated that cyber-attacks could potentially lead to net income losses in the global banking system of up to $350 billion.

Or think of a sharp adjustment in asset prices that could affect the fast-growing shadow banking sector. That part of the financial world comes with many regulatory blind spots that should be BEESFTTFE 'PS JOTUBODF XF CFMJFWF UIBU DPVOUSJFT need to regulate underwriting standards in high-risk debt markets, including leveraged loans.

Of course, making finance safer and more trustworthy is not just about good innovation and better regulation. It is also about a broader sense of individual and collective responsibility. c) Broader responsibility Responsible behavior has a lot to do with incentives, especially monetary incentives. There is no question that remuneration policies in the banking sector were driving reckless risk-taking before the financial crisis.

As one analysts put it: â&#x20AC;&#x153;Employ as little equity as one can; promise a high return on equity; link bonuses to the achievement of this return target in the short term; and ensure that as few as possible of those rewards are clawed back in the event of catastrophe.â&#x20AC;?

We know how that story ended. And we know that there is a widely-shared perception that those who caused the crisis did not face the consequences, while ordinary people paid a heavy price. Many people actually saw this as the ultimate breach of QVCMJD USVTU 4P XIBU IBT DIBOHFE TJODF UIFO 'PS one, post-crisis reforms have significantly moved the needle by better aligning individual pay with the health of the firm.

If you are a senior banker here in the City, 40 to 60 percent of your variable remuneration is deferred over 3-7 years. And it can be reduced, cancelled, or clawed back in case of poor performance and misconduct.

In other words, bankers have more skin in the game. In the U.K., senior bankers and traders also have to comply with the so-called Senior Manager and Certification Regime, which has increased accountability and is helping firms to set a better â&#x20AC;&#x153;tone at the topâ&#x20AC;?. )FSF * XPVME MJLF UP DPNNFOE NZ GPSNFS *.' colleague, Minouche Shafik, who in her role as deputy governor of the Bank of England did so much to promote codes of conduct for financial markets. Certainly, more can be done: from making claw-backs more consistent across countries, to enhancing the disclosure of disciplinary actions within firms, to creating a global code of conduct.

And let us not forget the power of criminal and

civil liability. In major financial centers, we see a more forceful pursuit of individual wrongdoing.

But the brunt of legal actionâ&#x20AC;&#x201D;amounting to billions of dollars in finesâ&#x20AC;&#x201D;is borne by financial firms, where it is too often perceived simply as a cost of doing business.

Values and ethics The reality is that even the toughest legal sanctions, and the smartest compensation and governance rules, cannot be substitutes for a strong individual responsibility that is grounded in values BOE FUIJDT 'PS JU JT OPU KVTU UIF iUPOF BU UIF UPQu but the â&#x20AC;&#x153;response from the bottomâ&#x20AC;? that creates a better and more trusted corporate culture.

That is why the financial industry needs what * DBMM BO iFUIJDT VQHSBEFu 8IBU EP * NFBO 'PS financial professionals, it simply means doing the right thingâ&#x20AC;&#x201D;even when nobody is watching.

It sounds so simple, and yet it is perhaps the hardest thing to do.

Remember: the word â&#x20AC;&#x153;creditâ&#x20AC;? comes from the Latin word for â&#x20AC;&#x153;trustâ&#x20AC;?, which is the lifeblood of the financial system. But trust itself cannot be manufactured or mandated. It must be earned through virtuous behavior that is intrinsically motivatedâ&#x20AC;&#x201D;again, done even when nobody is watching.

Here one could draw inspiration from Aristotle, who argued that we are all driven by a sense of purpose. We can achieve our purpose by developing virtues, such as justice, courage, self-control, prudence, generosity, and honesty. Aristotle believed that this was the key to genuine happiness.

That spirit can also help achieve a purposeful banking career and a safer and more trusted financial system. But this is not the whole story.

Aristotle also believed that individual purpose must always be linked to social purpose, to the common good.

This applies to all aspects of our lifeâ&#x20AC;&#x201D;including corporations and financial firms. The â&#x20AC;&#x153;goalâ&#x20AC;? of a corporation cannot be just about its own narrow financial interest. It must also encompass a broader common responsibility.

It is not surprising, therefore, to see growing debates about the nature of modern corporations and the concept of maximizing shareholder value.

As the British economist Colin Mayer put JU i'PS OFBSMZ BMM PG JUT ZFBS IJTUPSZ UIF corporation has combined a public purpose with its commercial activities. It is only over the last 60 years that the idea that profit is the only purpose of business has emerged.â&#x20AC;?

I believe that encouraging a broader common responsibility is now more important than everâ&#x20AC;&#x201D;not just for todayâ&#x20AC;&#x2122;s stakeholders, but for future generations.

Which brings me to my second question: how can the financial sector support long-term growth that is more sustainable and more inclusive?

2. How can finance support sustainable and inclusive growth?

Let me start with a data point. Over the next 15 years, $24 trillion of wealth will be inherited by millennialsâ&#x20AC;&#x201D;and they are more than twice as likely as other generations to invest in companies or funds that target social or environmental outcomes.

The financial industry has seized this opportunity by offering various forms of impact investing, green bonds, and a panoply of fund products that take account of â&#x20AC;&#x153;ESGâ&#x20AC;?â&#x20AC;&#x201D;environmental, social, and governance issues.

Clearly, sustainable investing is booming. But it also points to a deeper issue: whether you are a banker, fund manager, or fintech entrepreneur, you are probably wondering how to take a more sustainable approach that is both economically and ethically right. This offers us a huge opportunity to redefine the magic of finance, to pursue a broader sense of purpose. a) Fintech The immediate priority should be to foster cutting-edge financial technology. This means creating fintech products that are substantially cheaper and more accessible. It means serving customers and communities in new and better ways. It also means rethinking the economics of the financial industry itself.

Lagarde, who is the Managing Director, International Monetary Fund, delivered this speech at the 32nd World Tradersâ&#x20AC;&#x2122; Tacitus Lecture in London NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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Stanbic IBTC, LBS to Enhance Capacity for Agribusiness Entrepreneurs Ebere Nwoji Stanbic IBTC Bank Plc has gone into partnership with the Enterprise Development Centre (EDC) of the Lagos Business School, to host a capacity building series tagged: â&#x20AC;&#x2DC;AgriBusiness Small and Medium Enterprises Investment Scheme (AGSMEIS).â&#x20AC;&#x2122; The forum was targeted at operators in agric businesses in the country.

The bank said the move was in furtherance of its commitment to help stimulate and grow a strong and viable small and medium scale enterprises sector in Nigeria.

The bank said the AGSMEIS capacity training would last

between Tuesday, February 26th 2019 to Wednesday, March 6th 2019.

It further said the programme offers a wide array of banking solutions as well as funding, skills acquisition and other support to the SME sector.

The Agri-Business Small and Medium Enterprises Investment Scheme is an initiative of the Bankersâ&#x20AC;&#x2122; Committee to provide support to and complement the federal governmentâ&#x20AC;&#x2122;s efforts at promoting Agri-businesses/ Small and Medium Enterprises as a vehicle for sustainable economic development and employment generation.

The scheme, essentially addresses capacity building,

technical assistance to Micro, Small and Medium Enterprises (MSMEs) and their funding challenges through Participating Financial Institutions (PFIs).

Head, Enterprise Banking, Stanbic IBTC Bank Plc, Ayodele Ojosipe, while speaking on the training, reiterated the bankâ&#x20AC;&#x2122;s commitment to providing the right support and solutions for individuals and businesses to achieve their goals. â&#x20AC;&#x153;Stanbic IBTCâ&#x20AC;&#x2122;s commitment to building capacity among enterprises stems from its deep understanding of the important role enterprises play in providing linkages to industries, employment generation and driving growth

Goldberg to Tour 20 Nigerian Cities Raheem Akingbolu Goldberg, a premium beer brand from the stable of Nigerian Breweries, will in the next 10 weeks tour 20 major cities across Nigeria with its premium entertainment events, â&#x20AC;&#x153;Ita FaajIâ&#x20AC;?.

The platform, which aims at highlighting and celebrating Goldbergâ&#x20AC;&#x2122;s consumersâ&#x20AC;&#x2122; experiences, would host events in major cities like Abuja, Lagos, Warri, Benin, amongst others, as it did in 2018.

Ita Faaji, as the name implies would be a night of pure bliss, providing an unforgettable

experience filled with energy, excitement and entertainment for all.

The great spectacle of arts and culture would involve great music and comedy. Lucky consumers would also be given the opportunity to walk away with fantastic prizes.

Speaking on the return of the activation platform, Brand Manager, Goldberg, Olufunmilayo Ogunbodede, was quoted in a statement to have said: â&#x20AC;&#x153;Goldberg is passionate about bringing premium experiences to its consumers across Nigeria.

Ita Faaji is a gem for us, as it allows us connect with

consumers across the country giving them an experience theyâ&#x20AC;&#x2122;ll never forget. â&#x20AC;&#x153;We canâ&#x20AC;&#x2122;t wait to tour all the several cities in the coming weeks as we urge everyone to come out and have fun with us.â&#x20AC;?

Goldberg recently brought fun-filled nights to consumers through its â&#x20AC;&#x2DC;Unlimited Faajiâ&#x20AC;&#x2122; series, that took plave between December 2018 and January 2019, and its major music platform Ariya Repete.

Goldberg is a premium quality lager beer that is brewed to golden standards by the Master Brewers; Nigerian Breweries Plc.

Firms Partner to Boost Tech Innovation Nosa Alekhuogie and Hamid Ayodeji Co-Creation Hub Nigeria (CC Hub), an innovation centre committed to boosting social capital and technology for economic development in Nigeria, in partnership with NG Hub Nigeria, has announced the opening of the Innovation Showcase Week (ISW) for technology-driven start-ups.

The two-day technology exhibition would give the start-ups the medium to introduce their innovation to organisations who are seeking technology innovation to support the development and existence of their businesses.

The Chief Executive Officer, Co-Creation Hub, Bosun Tijani, disclosed this during a media briefing in Lagos recently.

Tijani said: â&#x20AC;&#x153;We recognise the urgent need to accelerate innovation support to medium and large tech companies who are positioned to secure significant gains for the economy through smart applications of technology. â&#x20AC;&#x153;ISW will close the gap between corporate and start-ups by being an unprecedented platform where industry leaders can experience and adopt home-grown innovations and solutions first hand.â&#x20AC;?

He also assured Nigerians that the company would support the tech start-ups to build and develop the future of technology in Africa from Nigeria. â&#x20AC;&#x153;As much as we want to help grow these start-ups, we also want to make sure the large corporates are able to innovate fast enough to catch up with globalisation,â&#x20AC;?

Tijani added.

On his part, the Director of Incubation, Co-Creation Hub, Damilola Teidi, said: â&#x20AC;&#x153;We believe that technology can solve a lot of problems in our communities, which motivated us to create this programme to support deep tech start-up entrepreneurs. â&#x20AC;&#x153;We invest in entrepreneurs, provide human resources management support, financial management support and connect them to potential customers or partners.â&#x20AC;&#x2122;â&#x20AC;&#x2122; Also speaking, the Product Lead, Upnepa, Salaudeen Taslim said: â&#x20AC;&#x153;Our device when installed in your home has the ability to allow you monitor and measure electric power supply. When you are not at home, it notifies you the moment you have been supplied power where ever you are through the application on your phone. â&#x20AC;&#x153;In addition it helps you measure how low and high

the current you are being supplied; also it tells you how much power any appliance connected to our device consumes. â&#x20AC;&#x153;With the device we can monitor how much power is supplied to communities, and we can tell which informs us on which communities get power supply the most and less.â&#x20AC;?

The Chief Executive Officer, Gricd, Tega Iortim, added that â&#x20AC;&#x153;Gricd builds IoT-powered active cooling boxes for transportation and storage of temperature sensitive items such as vaccines and blood. It can also be used for perishable farm products. â&#x20AC;&#x153;We went into building such a solution because the current method of transporting vaccines and blood to patients is not entirely effective so by the time it gets to them it has lost its potency. Vaccines and blood need to be stored in a particular temperature range.â&#x20AC;?

Iortim, explained that â&#x20AC;&#x153;the companyâ&#x20AC;&#x2122;s solution has the ability to monitor the exact location of the sensitive items while they are being transported to their destination. â&#x20AC;&#x153;The box also allows you set a temperature range that will preserve the sensitive items, which will help it retain its potency.â&#x20AC;?

of the economy,â&#x20AC;? he stated.

He added that the seminar includes essential topics such as Understanding your Market (Competition Analysis, Marketing Plan, Segmentation); Operation and Business Model; Business Plan (Template review and Development); and Understanding the AGSMEIS Application Process Pitching Activity.

He said Stanbic IBTC Bank boasts of highly trained and motivated staff with the requisite expertise in enterprise financing and support.

According to him, the AGSMEIS initiative requires all deposit money banks to set aside five per cent of their annual profit after tax (PAT);

and as of December 2017, about N26 billion had accrued from all deposit money banks for the scheme. The fund is domiciled with the Central Bank of Nigeria and applicants are expected to be trained and certified by any of the CBN approved Entrepreneurial Development Centres which include the Lagos Business School, House of Tara, Fate Foundation, Thrive Agric and others to access the loan.

Head of Business Banking at Stanbic IBTC Bank, Remy Osuagwu, reaffirmed the bankâ&#x20AC;&#x2122;s commitment to supporting enterprises. According to Osuagwu, â&#x20AC;&#x153;Our key mandate of financial intermediation ensures that we are mindful

of providing the right support and solutions for individuals and businesses to achieve their goals and this workshop represents another opportunity for Stanbic IBTC Bank to help develop and sharpen participantsâ&#x20AC;&#x2122; business skills.â&#x20AC;?

He explained that as part of its support for small and medium scale enterprises, Stanbic IBTC regularly organises trainings for enterprise operators, adding that among other benefits, the trainings seek to equip enterprise operators with financial, marketing, and management skills that they can readily apply to transform their businesses to grow their bottom lines and ensure business continuity.

Indigo Wins New Award Raheem Akingbolu Integrated Indigo Limited has won the â&#x20AC;&#x2DC;West Africaâ&#x20AC;&#x2122;s Best in Class Public Relations and Communication Service Company of the Year 2019â&#x20AC;&#x2122; award, at the 2018 West Africa Brands Excellence Awards held in Lagos.

Indigo emerged the winner of the category at the third edition of the annual awards following the verdict of a technical committeeâ&#x20AC;&#x2122;s Research Report conducted by the Institute of Brand Management of Nigeria(IBMN) for marketing communication companies operating in West Africa.

Speaking on the award criteria at the presentation ceremony, the Registrar/ Chief Executive Officer of

IBMN, Desmond Esorougwe described the selection of Integrated Indigo Limited as the outcome of rigorous research and findings which placed the agency ahead of its peers on varying parameters.

According to him, Indigo has demonstrated in strong terms the capacity to provide excellent services in PR and communication for different clients on account of its limitless passion to serve the clients, its creativity, relevance in the industry as well as the abundance of talents in its workforce.

Receiving the award, Chief Executive Officer of Integrated Indigo Limited, Bolaji Abimbola, expressed profound appreciation to the organiser for the recognition describing it as

another significant milestone in the journey of the agency regarded as the fastest growing Public Relations firm in Nigeria.

Abimbola, dedicated the award to the clients for providing the opportunity and enabling environment for the agency to thrive promising that it would continue to offer the best initiatives that would not only improve the corporate reputations of their business but also drive revenue.

He also applauded the â&#x20AC;&#x2DC;ever readyâ&#x20AC;&#x2122; and client centric members of the company for always going the extra mile to over deliver on promise and value to the clients and for being that invaluable extension to their communications department.

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33

34

T H I S D AY Ëž ͲË&#x153; 2019

BUSINESS/MONEYGUIDE

Elumelu Urges Buhari to Fix Power,Support MSMEs Obinna Chima The Chairman of the United Bank for Africa (UBA) Group, Mr. Tony Elumelu, has advised President Muhammadu Buhari, to address Nigeriaâ&#x20AC;&#x2122;s epileptic power situation as well as ensure that operators of micro, small and medium scale enterprises (MSMEs) are given the necessary support in his second term.

According to Elumelu, who is also the founder of the Tony Elumelu Foundation, access to electricity is critical to growing the Nigerian economy.

He said this in an interview monitored on Sky News. â&#x20AC;&#x153;I think power is critical. We know that access to electricity and improvement in that sector will help to galvanise and grow the Nigerian economy and I believe this government is going to do that going forward. â&#x20AC;&#x153;Another sector that is critical and very important is the private sector and especially the small and medium scale enterprises.

We know that countries that prioritise their small and medium

scale enterprises do very well in creating employment and alleviating poverty. â&#x20AC;&#x153;So, I believe this government in its second term will continue and even do more in supporting small and medium scale enterprises through policies and incentives that will encourage these people. â&#x20AC;&#x153;We are extremely enterprising and our people just need the more encouragement to do great things,â&#x20AC;? he explained.

Responding to a question about the growing Nigeria-China relationship, Elumelu said: â&#x20AC;&#x153;Nigeria is up for business. Nigeria wants attractive investors. If the Chinese sees Nigeria as a more hospitable and investment-friendly country, Nigerians are ready. â&#x20AC;&#x153;But we think our long historical trading partners like the United Kingdom, the US should also show more interest. I believe that is happening and a lot more will happen especially this second term.â&#x20AC;? He dismissed the insinuation that the depreciation recorded by the Nigerian Stock Exchange since the outcome of the presidential election was announced was as a result of the negative sentiment

trailing Buhariâ&#x20AC;&#x2122;s re-election. â&#x20AC;&#x153;The Nigerian stock market has been quite unpredictable and I donâ&#x20AC;&#x2122;t really think it fell as a result of the election outcomes. â&#x20AC;&#x153;I believe that with the elections over now, the country is ready again for business and I think things would get better going forward.â&#x20AC;? Commenting on the newly launch UBA UK, he said: â&#x20AC;&#x153;We call UBA, Africaâ&#x20AC;&#x2122;s global bank and we operate in 20 African countries and is the only African bank that operates and is regulated in the United States of America. â&#x20AC;&#x153;So, a natural and logical place to berth next is London. So, we are happy to have launched UBA in the UK, to support wholesale banking transactions. â&#x20AC;&#x153;There is so much historically that happened between Nigeria and the UK, between Africa and the UK and between Africa and Europe. So, we want to take advantage of our spread across Africa, serving over 70 million customers, to link them up with the rest of the world through our operation in the New York, and now, through our operation in London.

United Capital Appointed Issuing House for N8.5bn NSP Green Bond James Emejo Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; The United Capital Plc has been appointed lead issuing house and financial adviser of the first N8.5 billion Corporate Green Infrastructure Bond offer by the North South Power Company (NSP).

The Securities and Exchange Commission (SEC) has approved the 15-year tenor bond, which represented the longest tenured bond issued by a corporate in the country.

The series 1 green bonds was assigned AAA national scale rating by Agusto & Co. and GCR having being guaranteed

by Infrastructure Credit Guarantee Company Limited and certified by TUV NORD CERT, an approved verifier under the Climates Bonds Standard, in conformance with the International Capital Market Associationâ&#x20AC;&#x2122;s Green Bond Principles, Nigerian Federal Ministry of Environmentâ&#x20AC;&#x2122;s Nigerian Green Bond Guideline and the Green Bonds Issuance Rules of the Nigeria Securities & Exchange Commission.

Speaking at the signing ceremony over the weekend in Abuja, Executive Vice Chairman/Chief Executive, NSP, Mr. Olubunmi Peters said â&#x20AC;&#x153;with the completion of the Series 1 Guaranteed Green Infrastructure Bonds issuance, North South has established a long-envisioned link with a more sustainable long-term, local currency financing required to implement its ambitious strategic power generation expansion plan through the capital markets.â&#x20AC;?

Chairman, NSP, Mallam Ibrahim Aliyu, said the offer represented a â&#x20AC;&#x153;first testing of the watersâ&#x20AC;? by the company as it would be the first time it would raise funds from the formal capital market, though it had raised money from commercial banks.

He said: â&#x20AC;&#x153;We operate the best post transaction power asset in Nigeria and it is our intention to maintain this lead and improve it to create in due course, a vertical power company engaged in a number of power activities. â&#x20AC;&#x153;We do hope this transaction will be a reference point for

companies in the private power sector and in the larger corporate world in this country. â&#x20AC;&#x153;We will continue to make disciplined decisions that will grow our company and become the leading electricity company in South Saharan Africa.â&#x20AC;?

Also, Group Chief Executive, United Capital, Mr. Peter Ashade said â&#x20AC;&#x153;United Capital is always exploring ways to provide innovative investment banking solutions to our clients. â&#x20AC;&#x153;We congratulate our client, North South Power on a successful transaction of the Corporate Green Infrastructure Bond as we work together in achieving a common goal.â&#x20AC;?

The offer is a 15.60 per cent Series 1 Guaranteed Fixed Rate Senior Green Infrastructure Bonds (â&#x20AC;&#x153;Series 1 Green Bondsâ&#x20AC;?) which is due 2034 under a N50 billion Debt Issuance Programme.

The security is the first certified green corporate bond and the longest tenured corporate bond issued in the Nigeria debt capital markets.

Access, Diamond Commemorate International Womenâ&#x20AC;&#x2122;s Day Access Bank Plc and Diamond Bank Plc have concluded plan to jointly mark the International Womenâ&#x20AC;&#x2122;s Day, 2019, as both banks look forward to the completion of their merger process.

This would be celebrated with a 2-day event themed: â&#x20AC;&#x2DC;Balance for Better.â&#x20AC;&#x2122; The celebrations would kick off with a cocktail event next Wednesday, at Access Bankâ&#x20AC;&#x2122;s head office in Lagos, with top management from both banks and other dignitaries in attendance. â&#x20AC;&#x153;Both banks will host women across various industries to a breakfast conference at Eko Hotel & Suites on the second day of the conference, March 14, 2019. â&#x20AC;&#x153;This conference will feature insightful panel sessions, where seasoned speakers will address issues related to how women

can leverage on technology and finance to build profitable and innovative ventures, as well as accelerate actions towards supporting women in their quest to be the best they can be,â&#x20AC;? a statement explained.

Head of Women Banking, Access Bank Plc, Ada Udechukwu said: â&#x20AC;&#x153;At Access Bank, we are passionate about the woman and her overall well-being. â&#x20AC;&#x153;We are interested in her growth in family life, career, health and other areas.

We will continue to provide platforms and support programs that will help women and their businesses. â&#x20AC;&#x153;This value-packed conference has been organised to help women learn essential lessons which can be applied to their daily lives and businesses.

It will help them become all they

want to be and be the best at it.â&#x20AC;?

Speaking about the event, the Group Managing Director/ CEO Access Bank Plc, Herbert Wigwe said: â&#x20AC;&#x153;At the core of our services is catering to the needs of women and we are constantly gearing efforts towards promoting women-focused initiatives and providing opportunities to help them maximise their potential. â&#x20AC;&#x153;One of the reasons we are hosting this breakfast conference is to help women overcome limitations as well as reach their best potential.â&#x20AC;? Wigwe also said: â&#x20AC;&#x153;As we expand with the merger, and continue on our journey to building Africaâ&#x20AC;&#x2122;s biggest retail bank, our women now have more innovative offerings that they can explore to make themselves and their businesses better.

Elumelu

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&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS ATTHURSDAY,28 JANUARY 2019

The price of OPEC basket of fourteen crudes stood at $65.28 a barrel on Thursday, compared with $64.97 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

35

T H I S D AY Ëž ͲË&#x153; 2019

MARKET NEWS

NSE Places Shares of Newrest ASL Nigeria on FullTrading Suspension Goddy Egene Full trading suspension has been placed on the shares of Newrest ASL Nigeria Plc. The company, which delivers catering service to the civil aviation sector, as well as to oil and gas sector has applied to the Nigerian Stock Exchange (NSE) for a voluntary delisting. And in notification to market operators, NSE said it has approved the application

of Newrest ASL and has placed the shares on full suspension. â&#x20AC;&#x153;This suspension is required to prevent further trading in the shares of Newrest ASL, and in order for the company to comply with the post-approval requirements which will precede the final delisting of the company from the Daily Official List of the exchange. Dealing members will be notified of the date of the companyâ&#x20AC;&#x2122;s delisting in due

P R I C E S MAIN BOARD

F O R DEALS

course,â&#x20AC;? the exchange said.

While some shareholders have decried the frequent delisting of companies without adequate protection, the Chief Executive Officer of the NSE, Mr. Oscar Onyema, has always said the market has a free entry free exit. According to him, the exchange would always have the interest of investors in mind but cannot stop companies that want to leave because of inability to meet the post-listing

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

QUANTITY TRADED

VALUE TRADED ( N )

requirements to remain.

He explained that for companies that get delisted because of poor performance, shareholders should develop the habit of questioning any irregularities discovered in the financial statements of companies before such companies get worst.

He said despite the fact that NSE and other regulators play the role of investor protection, the shareholders themselves

T R A D E D MAIN BOARD

A S

have a role which they too must play if their interests are to be fully protected.

Onyema said: â&#x20AC;&#x153;One of the things that we actually pride ourselves at the Exchange is protection of investors. I know that when something goes wrong the first person you want to shoot is the Exchange and possibly the Securities and Exchange Commission, SEC because we are in the frontline. If I take Syke Bank

O F

specifically, the exchange has done a lot to protect the interest of shareholders but let understand we are operating in the market place where shareholders themselves have responsibility.â&#x20AC;?

He called on investors to constantly study the financial statements of companies and to also attend annual general meetings(AGMs) where they can ask questions and seek clarifications.

2 6 / 0 2 / 2 0 1 9 DEALS

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QUANTITY TRADED

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37

MONDAY, MARCH 4, 2019 ˾ T H I S D AY

MARKET NEWS

US New Legislation to Boost Flow of Investments to Africa Goddy Egene The United States (US) Better Utilisation of Investments Leading to Development Act( BUILD Act), which combines the US Overseas Private Investment Corporation (OPIC) and other US agencies focusing on international economic development into a new consolidated agency called the US International Development

Finance Corporation (DFC) will drive more investments towards Africa.

President Donald Trump signed the Act into law in October 2018. It is anticipated that the DFC will be operational in October 2019 and at that time it will begin deploying US equity capital in African private equity.

The DFC expands OPIC’s budget from $29 billion to

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

$60 billion and provides the DFC with the authority to make limited equity investments.

Previously, OPIC was limited to debt investments. Sub-Saharan Africa has long been a priority for OPIC, accounting for over one-quarter (27 per cent) of the agency’s current portfolio.

Although not clear, the hope and expectation is that the portfolio will remain at least 27 per cent of

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 28Feb-2019, unless otherwise stated.

the additional capital, therefore additional capital of more than $8 billion available to invest in Africa.

While the US is the largest direct investor in Africa, with $54 billion in FDIs, it is trailing behind in its collaborative efforts, being more selective of the countries with which it engages (primarily South Africa, Lesotho, Kenya, Mauritius

and Ethiopia), two-way trade at below $39 billion, and only having ever held one summit with African leaders under the Obama administration in 2014.

However, President/CEO of OPIC Ray Washburne, said with the signing of the legislation, it is a “new era for development finance. With more tools, flexibility and more running room – the US will be able to

have even greater impact.”

According to Washburne, the DFC will make the US “a stronger and more competitive leader on the global development stage, with greater ability to partner with allies on transformative projects and provide financially-sound alternatives to state-directed initiatives that can leave developing countries worse off.”

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 0.85 0.86 1.02% ACAP Income Funds 0.62 0.62 11.82% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.28% AIICO Balanced Fund 2.28 2.31 2.83% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 17.30 17.82 4.27% ARM Discovery Fund 369.09 380.21 3.49% ARM Ethical Fund 29.20 30.08 3.40% ARM Money Market Fund 1.00 1.00 13.59% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 103.22 103.95 2.01% 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 13.83% Paramount Equity Fund 12.06 12.16 2.11% Women's Investment Fund 105.59 106.10 1.89% 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 14.24% Cordros Milestone Fund 2023 101.62 101.78 Cordros Milestone Fund 2028 102.33 102.92 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 13.36% Coronation Balanced Fund 0.84 0.85 Coronation Fixed Income Fund 1.15 1.15 3.10% 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 12.39% 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 1,227.84 1,227.98 3.57% FBN Heritage Fund 144.36 145.68 0.66% FBN Money Market Fund 100.00 100.00 15.62% FBN Nigeria Eurobond (USD) Fund - Institutional 115.80 116.22 1.68% FBN Nigeria Eurobond (USD) Fund - Retail 115.74 116.16 1.87% FBN Nigeria Smart Beta Equity Fund 150.55 152.76 0.37% 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 1.23 1.25 #VALUE! Legacy Debt Fund 3.31 3.31 1.92% Legacy USD Bond Fund 1.04 1.04 0.73% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,025.61 3,057.47 1.41% Coral Income Fund 2,815.83 2,815.83 2.81% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 13.26% Nigeria Entertainment Fund 109.09 109.64 1.94% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 13.48% Vantage Balanced Fund 2.19 2.21 1.86% Vantage Guaranteed Income Fund 1.00 1.00 14.93% Kedari Investment Fund (KIF) 123.78 124.03 -0.89%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.16 1.19 1.73% Lotus Halal Fixed Income Fund 109.09 109.64 30.67% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.61 11.71 0.95% Meristem Money Market Fund 10.00 10.00 11.48% 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 1.37 1.40 7.51% PACAM Fixed Income Fund 12.41 12.47 1.68% PACAM Money Market Fund 10.00 10.00 12.55% 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 2,370.38 2,384.79 4.60% Stanbic IBTC Bond Fund 196.78 196.78 4.81% Stanbic IBTC Ethical Fund 0.97 0.99 3.16% Stanbic IBTC Guaranteed Investment Fund 251.61 251.64 3.82% Stanbic IBTC Iman Fund 168.33 170.20 3.18% Stanbic IBTC Money Market Fund 100.00 100.00 13.31% Stanbic IBTC Nigerian Equity Fund 8,615.84 8,719.27 3.25% Stanbic IBTC Dollar Fund (USD) 1.12 1.12 3.71% 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 1.19 1.21 0.08% United Capital Bond Fund 1.63 1.63 2.36% United Capital Equity Fund 0.70 0.71 -1.61% United Capital Money Market Fund 1.00 1.00 13.47% United Capital Eurobond Fund 108.94 108.94 1.56% United Capital Wealth for Women Fund 1.09 1.10 0.40% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.40 11.56 7.90% Zenith Ethical Fund 12.49 12.61 4.25% Zenith Income Fund 21.01 21.01 9.10% Zenith Money Market Fund 1.00 1.00 11.97%

REITS NAV Per Share

Yield / T-Rtn

5.95 118.85 51.93

-39.35% 0.04% 0.00%

Bid Price

Offer Price

Yield / T-Rtn

114.39 89.58

116.86 91.26

-2.47% 1.04%

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 Griffin 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

4.09 7.26 14.85 12.63 153.20

4.13 7.34 14.95 12.83 155.20

2.26% -4.65% -0.69% 2.18% 6.69%

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 manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

38

T H I S D AY Ëž ͲË&#x153; Ͱ͎ͯ͡

CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă?Ë&#x203A;Ă?äĂ?Ă&#x2122;Ă&#x152;Ă&#x201C;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;Ë&#x153; Í&#x2018;Í&#x2122;Í&#x2019;Í&#x2013;Í&#x201C;Í&#x201C;Í&#x2013;Í&#x201C;Í&#x201D;Í&#x201C;Í&#x2013;

New Look for Cross Riverâ&#x20AC;&#x2122;s Mfon-Obudu Road Bassey Inyang writes that the construction of the 147kilometres dual carriage way from Yala to Obudu Ranch Resort in Obanliku Local Government Area of Cross River State, which was hitherto considered a Herculean task by many, has become a reality. Bassey Inyang writes

The Yala-Obudu-Ranch Road in Northern Cross River (Before)

Ongoing work on dualisation of Yala-Obudu-ranch Road

Yala-Obudu-Ranch Road (Before)

Parts of dualisation of Yala-Obudu-Ranch Road

W

hen Professor Ben Ayade assumed office on May 29, 2015 as the third democratically elected Governor of Cross River State, he hit the ground running and put no one in doubt that he was prepared for service. No sooner than he was sworn-in that he announced the plans of his administration to embark on massive capital intensive infrastructure development that would set the state on the path of sustainable growth and development.

With Cross River largely considered a civil service state, and very lean monthly allocation from the Federation Account, the question on many lips was where, and how Ayade would raise the funds to

finance some of the projects among them the 260km dual carriage super highway, the deep Seaport, the biggest garment factory in West Africa, the CalaPharm, amongst others.

However, despite paucity of funds, the Ayade administration has carved a niche for itself considering the giant strides recorded in the area of industrialisation in just a little above three years. Ayade within the outlined period has demonstrated his zeal in linking all communities in the state with inter-city and inter-local government areas link roads.

Evidence of these roads and some huge monumental projects can be seen from Calabar South in the Southern Senatorial District to Obanliku in the Northern Senatorial district of the state, and they

are at different levels of completion.

For instance, what can be described as the most ambitious, and yet the most outstanding project embarked on by Ayade in the Northern Senatorial district where he hails from, is the on-going construction of the 147km dual carriage Mfon-Obudu road, which straddles across the five local government areas of the district, beginning from Yala Local Government Area to the foot of the Obudu Ranch Resort in Obanliku Local Government Area.

Though the project was started about 18 months ago, and was making gradual progress, at a point it became a tool used by the opposition in the state to mock the Ayade administration, perhaps due to the slow pace of work occasioned by paucity of funds, and elements of the climate belts

in a state which experience at least eight months of rainfall in a year.

Therefore, few months ago, it was no surprise that the social media was awashed with unverified information that the administration has abandoned the project which is estimated to cost about N35 billion.

In fact the dusty nature of the road caused by the earth work, a common stage in road construction, informed a derogatory slogan "Ayade Powder", by the opposition in an attempt to buttress their claim that Ayadeâ&#x20AC;&#x2122;s administration was incapable of executing the road project.

The mockery of the road project, at some point became a common topic for discussion on the social media because many wondered how the state which was struggling to pay salary before Ayade came on board could

39

T H I S D AY Ëž ͲË&#x153; Ͱ͎ͯ͡

CRIME&SECURITY

Unraveling the Intricacies Behind Attack on DCP Okunola in Bayelsa Chiemelie Ezeobi

W

hen the picture of Deputy Commissioner of Police, DCP Kola Okunola went viral in Twon, Brass, Bayelsa State, on Sunday, February 24, 2019, he was tagged as the enemy of the people. The allegation leveled against him was that during the recently held presidential and National Assembly elections, he had attempted to make away with the ballot boxes in the area.

As the picture went viral, many commended the people who attacked him. It was only after the elections were over that the police hierarchy swung in to investigate properly. Soon after, it was discovered the reverse was the case. The DCP was said to have been the one trying to prevent his accusers from making away with the ballot boxes.

Over the weekend, the Force Police Public Relations Officer, Frank Mba, an Assistant Commissioner of Police, disclosed that already, three persons have been arrested in connection with the incident. They were identified as Hon. Israel Sunny Goli, the alleged mastermind and ringleader and the duo of Tamarapreye Victor and Azi Newton.

Goli, a candidate of one of the major political parties in the House of Representatives Elections in Brass Constituency, Bayelsa State, was said to have been arrested in his hideout somewhere in Abuja in a well-coordinated covert operation.

According to Mba, his arrest was in line with the directive of the Inspector General of Police, Ag. IGP Mohammed Adamu, who ordered for the immediate arrest, comprehensive investigation and diligent prosecution of all persons involved in the attack.

The DCP who is in-charge of the Federal Special anti-Robbery Squad (FSARS), Bayelsa State, was abducted by armed political thugs and was brutally manhandled and was at the point of being beheaded when rescue came for him.

Eyewitness account said the officer who had served gallantly in almost all the hot spots in the country was invited to the scene after armed hoodlums in their numbers attacked INEC officials who earlier arrived the community with electoral materials in Bassambiri community in Nembe Local government area.

They reportedly hijacked and carted away the electoral materials meant for seven wards in the area and took them to a popular hotel where they manipulated the results.

Okunola It was gathered that after they brought back the alleged fake results to INEC office, another opposing group who were alerted of the development started protesting.

While they were protesting, the armed thugs that had earlier hijacked INEC materials arrived at the jetty accompanied by a great number of armed youths and insisted that INEC officials must authenticate the manipulated results before leaving the community.

The police officer who was on duty in that area was alerted to the scene after hearing loud noise coming from the INEC office between the officials and party agents disagreeing about election materials and results which was escorted from Bassambiri to INEC office.

While the party agents were arguing that there were no elections in Bassambiri and wondered where the results came from, the officer tried to calm them down

and asked that they write their petition to INEC, but all efforts proved abortive.

The number of the irate youths grew and the INEC officials felt unsafe and demanded to be escorted to Yenagoa with the election materials. In order to avoid imminent break down of law and order by the dozens of thugs around, the officer informed the Commissioner of Police, Balyesa and he directed that both officials of INEC and the materials should be moved to the state capital, Yenagoa for safety.

This was agreed with the military officers on duty.

It was gathered that it was in the process of embarking on the journey at the jetty, one of the party candidates led youths in their hundreds and attacked the officer, dragging and assaulting him with threats to kill him and everyone if he failed to direct INEC officials to go back to the office and continue collation

of results. The INEC officials were forced back to continue with the collation of results under a very tense condition with sporadic shootings.

Meanwhile, as soon as they abducted the officer, the armed youths numbering hundreds dragged him to an unknown place where they subjected him to severe torture and beating and in the process, his uniform including his ranks were torn to pieces.

Sources said the youths were chanting war songs and saying that the police officer must die. They later sat him down in a wooden box and brought out daggers and other dangerous weapons preparatory to beheading him in spite of pleas by the officer.

Luckily, while they were waiting for the final order by their leader to carry out their threat, luck smiled on the officer as a message came from one of them that INEC officials have gone back to authenticate their manipulated results.

That was how they left the police officer and trooped to the venue to complete their mission.

The officer who reportedly regained his freedom around 11.am that same day was rescued by one of the police Marine units who were already dispatched to comb the creeks for their missing officer by the Inspector-General of Police.

He was rescued and taken to AGIP by the Police Marine unit after which he went back to his station.

An eyewitness said that the same-armed group had earlier in the night invaded the quite community of Bassambiri with the singular aim of scaring away all opposition party members and the electorates in general.

According to him; all through the night of that fateful Friday, the hoodlums shot, maimed several persons and killed one person. â&#x20AC;&#x153;They also forcefully seized INEC officials with their materials and placed them under duress to assist them in manipulating the card reader and other technical aspects of the electoral process.

As at press time, it was reliably gathered that the Deputy Inspector General of Police, Frederic Lakanu, who was swiftly dispatched by the Inspector-General of Police to Bayelsa to investigate the ugly incident has already set the ball rolling by visiting the troubled area in Brass Island.

While addressing senior officers at the Bayelsa State Police Command, he condemned the act and had vowed to identify, arrest and prosecute all those connected with the assault, their proxies and sponsors, of which the ball has been set rolling with the recent arrest of the trio.

New Look for Cross Riverâ&#x20AC;&#x2122;s Mfon-Obudu Road finance such a massive capital intensive project.

To the governor, the dangerous slogan â&#x20AC;&#x153;Ayade Dustâ&#x20AC;? was fast gaining grounds, and despite the stateâ&#x20AC;&#x2122;s financial challenges, something had to be done as the rainy season in 2018 started subsiding.

However, Ayade's guts, courage and determination to take up projects that many considered unrealistic, and impossible seem to be paying off as the project once branded with different kinds of names is gradually wearing a new look.

The project which is the longest road project embarked by any Governor in the history of the state between Obanliku/ Obudu, and some portions in Yala and Ogoja is currently undergoing asphalting, which is one of the final stages of the construction.

This development has however not gone unnoticed as residents and motorists have showered praises on the governor for the dualisation initiative and the efforts thus far.

Timothy Adie, a commuter who spoke with our reporter however decried that he has changed more tyres and has visited mechanic shop for repairs too frequently

since the commencement of the project.

Adie however commended Ayade for the efforts and urged him to continue to work hard to replicate the progress recorded in some parts in other areas that are yet to asphalted.

"I can't count the number of times I was visiting the Mechanic shop or changed tyres when the project first commenced.

But today, I've gotten used to driving the road especially now that some parts have become an express highway.

"I want to thank our governor for the project. This road that you see him repairing and expanding today was constructed

by Sujin, a company that is not even in existence again and may be even older than the governor. Our population has increased and more and more people including even Federal College of Education, Obudustudents are riding vehicles today. So it was necessary that the road be dualised to accommodate more cars.

"I'm not just talking about me but my opinion reflects that of many because I interact with people everyday. People are happy. Even those who used to call it Ayade

dust, Ayade powder and other funny names are surprised at the level of work so far.

I'll only appeal to the Governor to put more efforts to see that the entire project, not part is completed", he said.

A commercial driver, Mr. Stephen Agbe said that Ayade has shut the mouths of his critics including himself.

Agbe who spoke in Pidgin English said that "To be very honest with you, I even doubted Governor Ayade's sincerity in completing this project. I used to criticise him for embarking on this kind of project not because we don't want it, but because we felt that we don't have the money to fund it but today the story is different. With what I have seen in some parts, honestly, Ayade has done well for us and I want to thank him and all the people who have worked with him to achieve this".

Fidel Ashinetiang, a 43-year-old man who operates a drinking joint beside the road in Obudusaid that despite all the discomfort and inconveniences occasioned by the project, he was resolute and confident that it would surely end in praise for Ayade.

Ashinetiang saidpeople should understand

that no development in any part of the world come without destruction as such those who were making negative comments against the governor for embarking on the project should try and see the overall benefits of some decisions and policies of government to before condemning.

"I think I'm one of the persons that was so affected negatively by this project. As you know, my bar was just beside the old road. It was brought down and to be sincere, the compensation I was paid was not commensurate with what I used to set up this new one. I have suffered dust like every other person but I never said anything negative about this project because I understand that any development usually comes with destruction.

"All those who have been making negative comments against the Governor because of the destruction that came with the project should know that even America, before it got to the level it is today, people made sacrifices. I'm confident that it won't end with the areas completed so far, the entire project would be completed and commissioned soon," he said.

5 ) * 4 % ": t MONDAY, MARCH 4, 2019

40

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&Žƌ ŵŽƌĞ ŝŶĨŽƌŵĂƟŽŶ͕ ŬŝŶĚůLJ ƐĞŶĚ ĂŶ ĞŵĂŝů ƚŽ ŶŝŐĞƌŝĂƉĐďΛLJĂŚŽŽ͘ĐŽŵ

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5 ) * 4 % ": t MONDAY, MARCH 4, 2019

5 ) * 4 % ": t MONDAY, MARCH 4, 2019

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MONDAY MARCH 4, 2019 Ëž T H I S D AY

INTERNATIONAL

Bloodbath as Taliban, Jihadists Kill over 55 in Syria, Afghanistan Over 55 persons were yesterday confirmed killed in Syria and Afganistan.

In Syria, at least 33 pro-regime fighters were killed in attacks mounted by jihadist groups near Idlib province, in the deadliest day in six months for loyalist forces, a monitor said.

In Afghanistan, 22 security forces were killed in a Taliban attack on a joint US-Afghan base in southwestern Afghanistan.

Twenty-seven fighters were killed in two attacks by Ansar al-Tawhid jihadists, the Syrian Observatory for Human Rights said. â&#x20AC;&#x153;Five jihadists were also killed,â&#x20AC;? said Rami Abdel Rahman, director of the Britain-based monitoring group.

Ansar al-Tawhid has ties to the larger Hurras al-Deen group, which is also active in the area of northwest Syria. Both are considered semi-officials franchises of Al-Qaeda in Syria.

The area of Idlib and small parts of the adjacent provinces of Hama and Aleppo are mostly controlled by the rival Hayat Tahrir al-Sham organisation.

HTS is led by fighters who formerly belonged to Al-Qaedaâ&#x20AC;&#x2122;s ex-affiliate in Syria.

The attacks by Ansar al-Tawhid were carried out against regime positions in Masasna, a village in Hama province, the Observatory said.

A military source quoted by state news agency SANA confirmed soldiers had been killed and wounded in the attacks on their positions near Idlib province.

Loyalists forces had killed some assailants, the source added without giving figures.

The foreign ministry said Syria

â&#x20AC;&#x153;will not allow terrorists and those who are behind them to carry on with their attacks against innocent civilians and the armed forcesâ&#x20AC;?.

In Latakia province, also northwest of the capital, at least six pro-regime fighters were killed in attacks by HTS militants later on Sunday, the Observatory said.

According to Abdel Rahman, the latest spate of attacks caused â&#x20AC;&#x153;one of the highest casualty figures among regime ranks since the Putin-Erdogan dealâ&#x20AC;?.

He was referring to an accord struck in the Russian resort of Sochi

by Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan.

Under the September 17 truce deal, Turkey would exert its influence over anti-regime groups in the Idlib region to have them pull back fighters and heavy weapons from a demilitarised zone.

It was meant to stave off a planned offensive by the regime and its Russian backers that aid groups feared could spark the eight-year-old Syrian conflictâ&#x20AC;&#x2122;s worst humanitarian crisis to date.

The government assault on the last major bastion of rebel forces has been held off but the dealâ&#x20AC;&#x2122;s provisions have not been implemented.

Since the Sochi agreement, HTS has consolidated its grip on Idlib province.

Meanwhile, at least 23 Afghan security forces were killed in a Taliban attack on a joint US-Afghan base in southwestern Afghanistan, officials said weekend, as fighting continued during a pause in peace talks between the insurgents and American negotiators.

Details of the heavy toll from the hours-long assault on Shorab military base â&#x20AC;&#x201D; one of the largest

military installations in the country â&#x20AC;&#x201D; followed earlier claims by local and US officials that Afghan forces had successfully repelled the attack, killing four militants.

The pre-dawn assault, claimed by the Taliban, saw militants enter the base in Helmand province and engage in firefights with Afghan forces.

Hours later, Ghafoor Ahmad Jawed, a spokesman with the Ministry of Defence, said: â&#x20AC;&#x153;The operation is over â&#x20AC;&#x201D; 23 security forces killed, 15 injured and 20 insurgents killed.â&#x20AC;?

Omar Zwak â&#x20AC;&#x201D; a spokesman for the provincial governor â&#x20AC;&#x201D; also confirmed the toll, saying the Taliban deployed at least seven suicide bombers who were killed during the fighting.

A US official told AFP that no Americans were killed or wounded in the attack.

The Taliban control or contest

complete denuclearization of the Korean peninsulaâ&#x20AC;? â&#x20AC;&#x201D; was more style over substance.

Others pointed to a lack of preparation, with the two sides unable to bridge the gaps between them in time.

According to senior US officials, in the week leading up to the Hanoi summit the North Koreans had demanded the lifting of effectively all the UN Security Council economic sanctions imposed on Pyongyang since March 2016.

In return, Pyongyang was only offering to close a portion of the Yongbyon complex, a sprawling site covering multiple different facilities â&#x20AC;&#x201D; and the North is believed to have other uranium enrichment plants. â&#x20AC;&#x153;Sometimes you have to walk and this was just one of those times,â&#x20AC;? an unusually downcast Trump told reporters on Thursday, adding that he would â&#x20AC;&#x153;rather do it right than do it fast.â&#x20AC;?

After returning to Washington, the US president tweeted Friday that his relations with Kim were â&#x20AC;&#x153;very goodâ&#x20AC;?. â&#x20AC;&#x153;What President Trump was trying to do was look at what was possible for them overall,â&#x20AC;?

Bolton told CBS. â&#x20AC;&#x153;He remains optimistic this is possible. Kim Jong Un himself said in our last meeting, you know, weâ&#x20AC;&#x2122;re

a pact to prevent Afghanistan from harbouring terrorists.

A New York Times report published Thursday hinted that US forces could leave Afghanistan within five years under a Pentagon plan offered as part of a potential deal with the Taliban to end the nearly 18-year war.

The US has also pushed for a ceasefire and the opening of a dialogue between the Taliban and the Kabul government â&#x20AC;&#x201D; demands that have been repeatedly rejected by the insurgents.

The Taliban were quick to dismiss the existence of the plan, saying they were unaware of any such proposals made during the negotiations. â&#x20AC;&#x153;No talks have been held in the meetings regarding an interim government and elections, nor has the US side proposed

anything regarding staying in Afghanistan for four or five more years,â&#x20AC;? the insurgents said in a statement Friday.

The Afghan government and civil society groups have voiced repeated concerns that an abrupt US withdrawal could spark an even bloodier civil war or a return to hardline Taliban rule.

Heavy snowfall across large swathes of Afghanistan has led to a sharp reduction in violence this winter, but warmer weather in the countryâ&#x20AC;&#x2122;s south will likely spark an increase in bloodshed with the arrival of the spring fighting season.

Analysts have warned that the Taliban are likely to ramp up attacks in the coming months as they seek to maintain momentum on the battlefield and leverage at the negotiating table.

Thousands in France Protest Algerian Presidentâ&#x20AC;&#x2122;s Bid for Fifth Term Thousands of people marched in Paris and other French cities Sunday to protest Algerian President Abdelaziz Bouteflikaâ&#x20AC;&#x2122;s bid to stand for a fifth term in office.

The demonstrations coincide with large-scale rallies in Algeria to denounce the ailing presidentâ&#x20AC;&#x2122;s bid to hang on to power.

Bouteflika, 82, uses a wheelchair and has rarely been seen in public since suffering a stroke in 2013.

He flew to Switzerland a week ago for what his office described as â&#x20AC;&#x153;routine medical checksâ&#x20AC;?.

Organisers said 10,000 demonstrators from Algeriaâ&#x20AC;&#x2122;s large diaspora gathered in the Place de la Republique, in central Paris. Police put the numbers at 6,000.

White House Security Chief Defends Trump-Kim Summit US national security advisor John Bolton denied Sunday that last weekâ&#x20AC;&#x2122;s nuclear summit with North Korea was a failure, despite President Donald Trump coming home empty-handed.

A high-stakes second meeting to strike a nuclear disarmament deal between the Northâ&#x20AC;&#x2122;s leader Kim Jong Un and Trump broke up in disarray Thursday, without even a joint statement.

But Bolton told CBSâ&#x20AC;&#x2122;s â&#x20AC;&#x153;Face the Nationâ&#x20AC;? Trumpâ&#x20AC;&#x2122;s failure in getting commitments from Pyongyang on destroying its nuclear capability should be seen as â&#x20AC;&#x153;a success, defined as the president protecting and advancing American national interests.â&#x20AC;?

The White House aide said the issue was whether North Korea would accept what the president called â&#x20AC;&#x153;the big dealâ&#x20AC;? â&#x20AC;&#x201D; denuclearizing completely or something less, â&#x20AC;&#x153;which was unacceptable to us.â&#x20AC;? â&#x20AC;&#x153;So the president held firm to his view. He deepened his relationship with Kim Jong Un. I donâ&#x20AC;&#x2122;t view it as a failure at all when American national interests are protected.â&#x20AC;?

The outcome in Hanoi fell far short of the pre-meeting expectations, after critics said their initial historic meeting in Singapore â&#x20AC;&#x201D; which produced only a vague commitment from Kim to work â&#x20AC;&#x153;toward

more than half of Helmandâ&#x20AC;&#x2122;s districts and regularly deliver sharp blows to Afghan forces, who have been struggling to hold off insurgents across the war-torn country since taking the lead from NATO forces in late 2014.

The assault on Shorab comes as US and Taliban negotiators in Doha have temporarily halted peace talks, which are set to restart over the weekend.

US special envoy Zalmay Khalilzad earlier this week called the latest meetings in the months-long diplomatic push â&#x20AC;&#x153;productiveâ&#x20AC;?, saying the two sides â&#x20AC;&#x153;will take the next two days for internal deliberations, with plans to regroup on Saturdayâ&#x20AC;?.

Negotiations are believed to be progressing after high-level talks last month ended with a â&#x20AC;&#x153;draft frameworkâ&#x20AC;? on the potential withdrawal of US troops and

going to go through many stations before we achieve this deal. The meeting in Hanoi was one such station.â&#x20AC;?

Bolton repeated the US position that it would help North Koreaâ&#x20AC;&#x2122;s economic progress if it committed to complete denuclearization and closing its chemical and biological weapons programs.

Compounding criticism of the summit, Trump sparked a firestorm by his remarks on the case of an American student tortured and left in a coma in North Korea.

The president said he believed Kimâ&#x20AC;&#x2122;s claim that he didnâ&#x20AC;&#x2122;t know what happened to 22-year-old Otto Warmbier, who died days after being sent back to the United States in 2017.

After a stern rebuke from Warmbierâ&#x20AC;&#x2122;s parents, Trump took to Twitter, insisting he held North Korea responsible for the studentâ&#x20AC;&#x2122;s death â&#x20AC;&#x201D; but without directly blaming Kim or even mentioning him. â&#x20AC;&#x153;The presidentâ&#x20AC;&#x2122;s been very clear he viewed what happened to Otto Warmbier as barbaric and unacceptable,â&#x20AC;? Bolton told CBS. â&#x20AC;&#x153;And I think the best thing North Korea could do right now would be to come up with a full explanation of exactly what happened to him.â&#x20AC;?

Many waved their national flag or wore it over their shoulders, shouting, â&#x20AC;&#x153;out, outâ&#x20AC;?, an AFP journalist at the scene witnessed.

Organisers said about 1,000 turned out in the Mediterranean port of Marseille in the south, and a few hundred in the southwest city of Toulouse.

Although Bouteflika has been increasingly frail since suffering a stroke in 2013, he was re-elected for his fourth term in 2014.

Elections for a new president are due to take place on April 18. â&#x20AC;&#x153;No to the mandate of shame, 20 years is enough,â&#x20AC;? proclaimed

one placard in Paris, referring to Bouteflikaâ&#x20AC;&#x2122;s intention to stand in the April 18 elections after 20 years in power.

Since gaining independence from France in 1962, â&#x20AC;&#x153;Algeria has been run by the same group of men, the same system,â&#x20AC;? 62-year-old Abderrahmane Hamirouche told AFP. â&#x20AC;&#x153;Algeria is ruined while itâ&#x20AC;&#x2122;s a country that potentially could be rich. What is there left for future generations?â&#x20AC;? the IT specialist asked.

Nadia Tamzali, a 62-year-old Franco-Algerian doctor, criticised the countryâ&#x20AC;&#x2122;s lack of free speech

and dominance by the military. â&#x20AC;&#x153;They have killed our culture â&#x20AC;&#x201D; nearly all the cinemas have disappeared,â&#x20AC;? she said. â&#x20AC;&#x153;We want the 40 thieves to go.

They have gone too far,â&#x20AC;? said a 54-year-old Algerian who gave his name as Asri. â&#x20AC;&#x153;We arenâ&#x20AC;&#x2122;t opposed to the president, but he is unconscious, he doesnâ&#x20AC;&#x2122;t exist anymore, his generals and those close to him are doing what they will behind his back,â&#x20AC;? said Asri, who has lived in France for 31 years.

Algeria, a former French colony, won independence in 1962.

FEDERAL AIRPORTS AUTHORITY OF NIGERIA

ADDENDUM

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MONDAY MARCH 4, 2019 ˾ T H I S D AY

NEWS

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

Again, Suspected Herdsmen Kill 16 People in Benue George Okoh in Makurdi Suspected herdsmen on Saturday killed 16 people and inflicted life-threatening injuries on several others in an attack on Agagbe community in Gwer Local Government Area of Benue State.

This latest attack is coming exactly 10 days after suspected Fulani herdsmen attacked Ebete, Usha ward in Agatu Local Government Area of the state and killed no fewer than 17 persons.

However, the Commander of Operation Whirl Stroke, (OPWS), Maj. Gen Adeyemi Yekini, has said that only seven corpses have been recovered by his men in what he described as a supposedly reprisal and unfortunate attack.

Sub-sector commander of OPWS in Gwer West Local Government Area, Flying Officer Mohammed Abubakar, who spoke to journalists, said that at about 4.30p.m on Saturday, some of his reliable sources from the affected community informed him that some men dressed in military uniform were sighted

in Agagbe forest rustling cows.

He stated that when he received the information, he quickly mobilised his men to attack the cattle rustlers where they found three dead bodies, which were later taken to a hospital in the area.

Abubakar added that they embarked on a search and also carried out an investigation, which revealed those behind the rustling of cows were members of the Livestock Guards.

“We later traced them to Ter Nagi’s Palace and discovered 22 cattle there but he claimed that the cattle belong to him even with the coming of OPWS to the area.

“Thereafter, we made contact with the DPO (Divisional Police Officer) who equally identified the rustlers as members of the Livestock Guard who disguised in military uniform to rustle cattle and butchered them for sale at the Naka market.

As I speak with you, they are selling the meat at the market. The DPO also gave names of seven persons who are members of the Livestock Guard involved.

“Just this afternoon, our men went on mop up patrol and discovered four additional dead bodies at the scene of the incident,” Abubakar explained.

Commenting on the incident, the Commander, Operation Whirl Stroke, Major General Yekini, alleged that some unforeseen forces were deliberately trying to cause a state of chaos in the state.

He noted that the sad incident was happening one week to the governorship election just as it was the case in Agatu, a week before the presidential and National Assembly elections.

Yekini promised that his men will continue to chase the armed herdsmen away from the state, but advised those who are fomenting trouble to desist from such act as the law will catch up with them.

“It is unfortunate that some people identified to be Benue State Livestock Guards would wear military uniform to go and rustle cows and butcher same cows and sell the meat to people at Naka Market.

This must stop so as to give peace a chance in the state.

“I assured that as for the armed herders, we will

continue to chase them and their cattle outside of Benue.

And for those who instigate violence, we will go after them and the law would catch up with them,” Yekini said.

Also confirming the incident, the Ter Nagi, Chief Daniel Abomtse, said there was heavy attack in some communities in his domain.

According to him, OPWS have been helpful to them but sometimes, “troops of the operation will kill cows belonging to herdsmen and chase them away only for them to come in a reprisal attack on my subjects. This

happened in January 21 and a similar incident happened on Saturday.”

He alleged that four out of seven districts in his domain have been taken over by the herdsmen and appealed to the federal government to deploy or station a military post at Agagbe to avert further attacks.

The Chairman of Gwer West Local Government Area, Francis Ayaga, confirmed that 16 persons were killed by suspected herdsmen, adding that three communities were also attacked.

AIB: Engine Failure Cause of Crashed NCAT Trainer Aircraft More international flights to operate from PH,Abuja Chinedu Eze The Accident Investigation Bureau (AIB) has attributed the accident “involving a Tampico (TB9) aircraft marked 5N-CBP,” belonging to the Nigerian College of Aviation Technology (NCAT), Zaria, which occurred on Friday at Rumi forest, Sabon Birnin,Birnin Gwari Local Government Area (LGA) of Kaduna State, to engine failure.

This is coming as the Federal Airports Authority of Nigeria (FAAN) has indicated that it would encourage operators of international flights to utilise the new airport terminal at the Abuja and Port Harcourt airports to ensure the decongestion of the Murtala Muhammed International Airport (MMIA) in Lagos.

The NCAT trainer aircraft, TB-9 Tampico, was burnt by bandits shortly after it crash-landed on Friday evening, but the instructor and pilot-trainee on board the aircraft escaped unhurt.

Bandits were said to have rained bullets on the aircraft before they set it ablaze.

The aircraft crash-landed at Ruma Village, Sabon Birni where the people helped to evacuate the instructor and his student who regained consciousness after the disorientation occasioned by the crash.

They were also assisted to return to base in Zaria.

According to reports, the aircraft crash-landed about 6.5 nautical miles from Kaduna International Airport at an area suspected to be notorious haven for armed bandits and kidnappers who terrorise travellers and residents in Kaduna and Zamfara States.

“Immediately the aircraft crashlanded, the pilot-instructor and a student escaped from the scene.

Some people in Ruma Village in Sabon Birni who noticed the wobbling of the aircraft before

the crash rushed to the scene and evacuated the victims to safety.

“Surprisingly, immediately afterward, some armed bandits rushed to the scene rained bullets on the aircraft and set it on fire thinking that it was one of the jets in the fleet of the Nigerian Air Force (NAF) that had been bombarding their camps since the beginning of the year,” a security operative reportedly disclosed at the scene of the crash.

A statement from the college explained that the trainer aircraft developed a problem and “forced –landed” in Kaduna.

The college also confirmed that the pilot and other occupant of the aircraft escaped unhurt.

“The Nigerian College of Aviation Technology Zaria, regrettably announces an incident, involving one of its TB-9 aircraft yesterday afternoon. The pilot made a successful forced-landing about seven nautical miles northwest of Kaduna airport.

Both occupants were unhurt and have since returned to Base. The Accident Investigation Bureau (AIB) has been notified, in line with standard practice,” the statement added.

AIB in a statement said in a statement yesterday that it has commenced investigations into the accident “involving a Tampico (TB9) aircraft marked 5N-CBP belonging to the Nigerian College of Aviation Technology (NCAT), Zaria, which occurred on the on March 1, 2019 at Rumi forest, Sabon Birnin,Birnin Gwari LGA, Kaduna State.

“From the information provided

by NCAT, the aircraft was on a test flight being conducted by a pilot and an engineer. The aircraft was force landed at 14.40 hours as a result of an engine failure. There was no fatality after the forced landing.

Our team of safety investigators has commenced investigation,” the statement explained.

YOU ARE WELCOME...

President Muhammadu Buhari (right), receiving Governor Ibikunle Amosun of Ogun State to the Presidential Villa , Abuja...yesterday GODWINOMOIGUI

Gunmen Kill Two Soldiers in Rivers Residents flee Abonnema community Ernest Chinwo in Port Harcourt Barely one week after one soldier and six civilians were killed in Abonnema, Akuku-Toru Local Government Area (LGA) of Rivers State during the presidential and National Assembly elections, two soldiers have again been killed at a military checkpoint along Obonoma-Abonnema Road in the same LGA. The violence that trailed the election in the LGA led to the suspension of election in the area.

Residents also claim that more than

17 persons, mostly youths, have been killed in the community in reprisal attacks by the military.

THISDAY gathered that the two soldiers were killed Saturday night when two yet-to-be-identified gunmen in military camouflage attacked the checkpoint.

It was gathered that the two gunmen, who rode a motorcycle, stormed the military checkpoint, popularly called “Samson Jack checkpoint” at about 8.00 p.m and opened fire on the soldiers.

It was further gathered that while the two soldiers died instantly,

several others were wounded as the hoodlums made away with two rifles of their victims.

Asource inAbonnema community, who pleaded anonymity, also said that after the attack, the assailants escaped through the Obonoma road.

According to the source: “Two gunmen in military uniforms opened fire on two soldiers and they died.

They took Obonoma road with a bike (motorcycle) and went away.”

Reacting to the incident, the traditional ruler of Abonnema community, King Disrael Bobmanuel, condemned the killing,

saying that the perpetrators were not from the community.

Bobmanuel said: “We are shocked to hear this news. We condemn it very strongly in its entirety. We, therefore, condole with the General Officer Commanding (GOC), 6 Division.

“The people of Abonnema and the Abonnema Council of Chiefs are very shocked to hear about these attacks again. As I said earlier, these people are not from Abonnema because Abonnema people cannot be involved in anything like that.”

Kogi Gov Plans to Eliminate Me, Melaye Cries out It’s not true, says state govt Yekini Jimoh in Lokoja The Senator representing Kogi West, Dino Melaye, has accused the Kogi State Government of hatching plans to assassinate him on March 8 or March 9, 2019.

The senator last week emerged the winner of the senatorial election having defeated two terms Senator, Smart Adeyemi.

The senator who revealed this through his verified Twitter

handle yesterday, alleged that the Kogi State Government was planning to assassinate him.

He however, maintained that the plan will fail and urged Nigerians to take note.

“Kogi State Government is planning to attack me on the 8 or 9 of this month. You will fail as always. God is my defence at all times. Nigerians take note,” he wrote.

However, the Director General, Media, and Publicity to the Governor Yahaya Bello,

Kingsley Fanwo, described the allegation as false.

According to him, “It is false and unfounded. He should follow up the allegations with proof if he wants to be taken seriously.

“That is what men of integrity do. We have decided not to respond to such blackmail and mind games by him.

How can you allege that a government is trying to assassinate you? It is spurious and unintelligent.”

The director general said that “henceforth, we will demand for proof at the appropriate quarters.

“Our efforts on securing lives and property have been hailed globally. He campaigned here in Kogi State freely. Nobody attacked him.

“The state government is an institution that did not start with the present administration and won’t end with the present. We will do everything possible to protect the integrity and sanctity of that institution.”

MONDAY MARCH 4,2019 ˾ T H I S D AY

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NEWSEXTRA

NEITI: Nigeria Lost $28bn to Outdated Crude Oil PSCs Chineme Okafor in Abuja For a period spanning over ten years, 2008 to 2017, Nigeria lost as much as $28 billion from crude oil due to outdated Production Sharing Contracts (PSCs) it signed with international oil companies (IOCs) operating in the country, the Nigeria Extractive Industries Transparency Initiative (NEITI), has disclosed.

NEITI, in a statement issued yesterday in Abuja explained that a quantitative study it conducted showed that the country lost this revenue because it failed to review the 1993 PSCs with IOCs, adding that it did the study with a Berlin-based extractive sector transparency group - Open Oil. Quoting its latest publication titled: ‘1993 PSCs: The Steep Cost of Inaction,’ NEITI said it

Court Declares Deportation of Cameroonians from Nigeria Illegal Alex Enumah in Abuja A Federal High Court in Abuja has declared as illegal and unconstitutional, the deportation of 47 Cameroonians from Nigeria on January 26, 2018.

The presiding judge of the court, Justice Anwuli Chikere, also granted all the reliefs as prayed for by the key Cameroonian separatist leader, Julius Sisiku Ayuk Tabe, president of the self-declared “Republic of Ambazonia”, who was arrested along with his supporters on January 9 by Nigerian intelligence agents at their hotels in Abuja on January 7, 2018, while they were assembled for a meeting.

They were subsequently detained at an underground detention centre in Abuja without access to their families, lawyers and doctors.

The group was deported to Cameroon on January 26, and Ayuk Tabe was put on trial for “terrorism” in December at a military court in Yaounde, Cameroon’s capital.

The move was denounced by United Nations High Commission on Refugees (UNHCR), the UN refugee agency, which said most of them had filed asylum claims and accused Nigeria of breaching international agreements.

They approached the court through two separate suits with number FHC/ABJ/CS/ 85/ 2018 and FHC/ABJ/CS/ 147/ 2018, respectively.

At the hearing, their lawyer, Mr. Femi Falana (SAN), argued that the arrest and detention of refugees and asylum seekers constituted a breach of Nigeria’s Constitution and the African Charter on Human and Peoples’ Rights.

In her judgment, Justice Chikere agreed with the counsel representing the applicants, Femi Falana, saying that the Nigerian government lacks the power to deport refugees and asylum seekers from the country.

The judge said the expulsion of the group was in “utter violation” of legal obligations which ban Nigeria “from expelling or deporting refugees” from the country.

She ordered the government to ensure they were brought back to Nigeria, and that their fundamental rights be respected.

The judge, however, granted all the reliefs sought in both suits and awarded N5 million to each of the applicants in the first suit, while in the second suit granted N200,000 to each of the applicants.

Ayuk, the president of a self-declared Ambazonia State, made up of English-speaking part of Cameroon, was one of 15 people whom Cameroon issued an international arrest warrant for in November 2017.

Since their deportation, the 47 have been held in a secret high-security facility at police headquarters in Yaounde.

SERAP Sues FG, States over Attacks on Journalists, Bloggers Udora Orizu in Abuja A civil society group, Socio-Economic Rights and Accountability Project (SERAP), has dragged the federal and state governments to ECOWAS Court of Justice in Abuja for the frequent and repressive application of the Cybercrime Act to harass, intimidate, arbitrarily arrest, detain, and unfairly prosecute anyone found publishing views or facts perceived to be critical of the government at the federal and state levels and government officials.

In the suit number ECW/ CCJ/APP/09/19 filed at the ECOWAS Court, SERAP has argued that the federal government and several state governments and their agents have trampled on the rights to freedom of expression and information of bloggers, journalists,

activists, and social media users through the repressive use and implementation of the vaguely-worded provisions of the Cybercrime Act.” In the suit filed on its behalf by a Senior Advocate of Nigeria (SAN) and human rights activist, Mr. Femi Falana, SERAP is asking the court to determine whether the federal and state governments, by using and applying the Cybercrime Act and other similar laws on cyberstalking and sedition to prosecute journalists, bloggers and activists over perceived critical views, violate the rights to freedom of expression and access to information.

It argued that the idea of a democracy is that the people are encouraged to express their criticisms, even their wrong-headed criticisms, of elected government officials, in the expectation that this process will improve the process of government.

was important Nigeria urgently reviewed the PSCs to stem the huge revenue losses.

It explained that such a review was particularly important for the federation because oil production from PSCs has surpassed production from joint ventures (JVs), noting that oil productions from PSCs now contribute the largest share to the federation revenue.

“Between 1998 and 2005, total production by PSC companies was below 100,000,000 barrels per year while JV companies produced over 650,000,000 barrels per year. By 2017, total production by PSC companies was 305,800,000 barrels, which was 44.32 per cent of total production. Total production by JV companies was 212,850,000 barrels, representing 30.84 per cent of total production,” NEITI

said.

NEITI noted that the 1993 Deep Offshore and Inland Basin PSCs provided for a review of the terms on two conditions, the first being if oil prices exceeded $20 per barrel, and the second being 15 years following the commencement of the PSC Act. NEITI added that the review should have been activated in 2004 when oil prices exceeded the $20 per barrel mark, adding that though the review was not done in 2004, the judgment of the Supreme Court in October 2018 had mandated the Attorney General of the Federation to work together with the governments of Akwa Ibom, Rivers and Bayelsa States to recover all lost revenues accruable to the Federation with effect from the respective

times when the price of crude oil exceeded $20 per barrel.

NEITI explained that since the Supreme Court judgment had addressed the condition for the first review, the second review should have happened in 2008.

It said the analysis was conducted for the seven producing fields of the 1993 PSCs, and which included Abo (OML 125) operated by Eni; Agbami-Ekoli (OML 127 and OML 128) operated by Chevron; Akpo and Egina (OML 130) operated by Total and South Atlantic Petroleum; Bonga (OML 118) operated by Shell; Erha (OML 133) operated

by ExxonMobil; Okwori and Nda (OML 126) operated by Addax; as well as Usan (OML 133) operated by ExxonMobil.

According to NEITI, after

compiling data from the seven offshore fields on oil production; oil prices; cost of development; operating costs; decommissioning costs; and the applicable fiscal regimes, it used financial modeling to estimate the revenue.

The analysis, it added was conducted by changing the fiscal regime of the 1993 PSCs to the fiscal regime of the 2005 PSCs. It said three estimates were obtained relating to revenues for the 1993 fiscal regime, and two estimates relating to revenues for the 2005 fiscal regime.

Further, NEITI said though there was a July 16, 2007 letter by the Department of Petroleum Resources (DPR) to the companies that the government intended to review the 1993 PSCs, but the review was however, not carried out.

CELEBRATING A NEW FEAT...

L-R: Managing Director, Shell Nigeria Exploration and Production Company (SNEPCo), Bayo Ojulari; SNEPCo’s Bonga Asset Operations Manager, Elohor Aiboni; and General Manager, Contracting and Procurement, Antony Ellis, at a celebration of SNEPCo’s 800 million barrel of oil milestone from the Bonga field in Lagos...recently

Thugs Attack Dankwambo’s Convoy, Burn Two Cars, Radio Station Thugs have attacked the convoy of the Gombe State Governor, Ibrahim Dankwambo, and set two cars among the entourage ablaze.

The Director of Media of the Peoples Democratic Party (PDP) Campaign Council in the state, Mr. Dahiru Kera, confirmed this to journalists yesterday.

According to him, the thugs attacked the governor’s convoy on his way from the airport, adding that two cars in the entourage were burnt.

Meanwhile, the thugs also attacked a Lafiyawo community in the state, destroying a private radio station, Progress FM, located along Gombe Airport Road.

Eight shops were burnt down in the community.

Two vehicles were also set ablaze in Jekadafari Quarters of the state capital.

Gombe State Police Commissioner (CP), Mr. Bello Makwashi, yesterday in Gombe confirmed the incident to journalists.

The CP who confirmed this through the command’s spokesperson, Mary Malum, said investigation into the attack which occurred on Saturday evening was still ongoing.

A resident of the community, Malam Nuhu Usman said that the attackers started stoning them

on their way back from airport before setting eight shops on fire.

According to him, many people sustained various degrees of injuries, while one was hospitalised.

Meanwhile, Managing Director of the radio station, Alhaji Ibrahim Biu, has alleged that the attack was caused by some thugs attached to Dankwambo.

“Yesterday evening, thugs following the governor’s convoy from the airport attacked our office with weapons.

“They were throwing stones and making attempts to gain entrance into the compound.

“So, I quickly called the

commissioner of police and the director of State Security Service who responded swiftly.

“In the attack, one of our security men was wounded. It was very scary but we thank the security for their swift response,” he said.

However, Director of Media of PDP Campaign Council in the state, Mr. Dahiru Kera, said the thugs that attacked the community and the radio station were not from PDP. Kera said the thugs had initially attacked the governor’s convoy on his way from the airport, adding that two cars in the entourage were burnt.

NBS: Foreign TradeVolume Hits N32.26tn The National Bureau of Statistics (NBS) yesterday said the country recorded a total trade value of N32.26 trillion year-on-year in 2018, representing 39.3 per cent increase over the corresponding period in 2017.

The trade value for 2017 stood at N23.16 trillion.

In its latest report, “Foreign Trade in Goods Statistics for Fourth

Quarter of 2018,” posted on its website, NBS said the volume of total merchandise trade in 2018 was the highest recorded since 2014, nearly double pre-recession levels.

The report added that during the fourth quarter of 2018, total merchandise trade stood at N8.60 trillion compared to its value of N9.06 trillion recorded in third quarter of the year.

It said the total export component of the trade recorded at N5.02 trillion, represented an increase of 3.5 per cent over third quarter 2018 and 28.5 per cent over fourth quarter 2017.

The NBS said the import component stood at N3.58trillion in fourth quarters 2018.

The figure showed a drop of N631.6 billion or 15.0 per cent compared to third quarter, 2018

but an increase of 69.6 per cent when compared with the corresponding quarter in 2017.

However, it said the increase in export value and decrease in import value, relative to third quarter 2018, resulted in a favourable trade balance of N1441 billion, or 125.5 per cent over the preceding quarter.

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APC in Dilemma over Senate Presidency Begins consultations on new zoning plan Deji Elumoye and Onyebuchi Ezigbo in Abuja A week after the ruling All Progressives Congress (APC) secured majority seats at the National Assembly, the party is in a dilemma as to which geopolitical zone to back for the office of the Senate President, ahead of the inauguration of the 9th Senate in June.

THISDAY gathered last night that the leadership of the party has commenced considerations for a new zoning arrangement that will guide its members in electing the leadership of the apex legislative arm of government.

APC won 65 Senate seats out of the National Assembly election results declared so far by the Independent National Electoral Commission (INEC) with the opposition Peoples Democratic (PDP) winning 40 seats and Young People’s Party (YPP) one seat while four senatorial seats election that were declared inconclusive by the electoral body will be concluded this Saturday.

However, multiple sources confirmed to THISDAY yesterday that APC, which won a clear majority seats in the 109-member senate appears to be in a dilemma

over which among the ranking senators should be nominated for the coveted office of the Senate President.

With the President and Vice President coming from the North-west and South-west respectively, the South-east would have been favoured to produce the next Senate President but the two APC Senators-elect from the zone - Orji Uzor Kalu (Abia North) and Rochas Okorocha (Imo North) are fresh senators and may not be eligible to vie for the position, going by the rules of the Senate.

Another Senator from the zone, Benjamin Uwajumogu (APC Imo North), who is seeking re-election, did not win during the February 23 election as INEC declared the senatorial election inconclusive but the election will be concluded on March 9.

If he wins as a second time Senator, Uwajumogu stands a chance of being considered for the Senate President by the party leadership and the senators.

Although the APC leadership has not come up with a zoning formula to guide the election of the presiding and principal officers of the 9th Senate, there are however indications that some senators are already being prodded for the

positions, especially the Senate President.

The ranking Senators being considered include Senate Leader, Senator Ahmad Lawan (Yobe North); former Senate Leader, Senator Ali Ndume (Borno South); Chairman of Senate Committee on Appropriation, Senator Danjuma Goje(Gombe Central), and Chairman of the Senate Committee on Agriculture, Senator Abdullahi Adamu (Nasarawa West).

These four Senators have started networking with their re-elected colleagues and senators-elect with a view to sensitising them ahead of their inauguration in June.

There are, however, some Senators who believe that since the President is from the Northwest, it will be ideal to pick the next Senate President from the South-west and not the North-east, where Lawan, Ndume and Gombe hail from.

Sources named some ranking APC Senators from the Southwest that are being considered for Senate President to include

Teslim Folarin (Oyo Central), who is returning to the senate for the third time having been in the fifth and sixth senate and at a time was the Senate Leader.

Also being considered is Chairman of the Senate Committee on Environment, Senator Oluremi Tinubu, who is also returning to the Senate for the third time although the tide may turn against her because she is the wife of the National Leader of the party, Bola Ahmed Tinubu.

Another ranking Senator Ajayi Boroffice (Ondo North) is also being considered.

He has been in the Senate since 2011 and was a former senior lecturer at the University of Ibadan.

It was further gathered at the weekend that the 40 PDP Senators that will form part of the 9th Senate are already considering the possibility of the Senate President coming from the South.

Some of the re-elected PDP Senators were said to have impressed it on their colleagues at an informal meeting weekend the need for the next Senate President

to come from the South.

THISDAY learnt that the ranking PDP Senators have started reaching out to their colleagues on the matter and may not hesitate to replicate what happened at the take-off of the 8th senate in June, 2015 when the 9th senate is inaugurated in June.

It will be recalled that the PDP senators ganged up against the choice of Lawan as Senate President and voted for Dr. Bukola Saraki, then an APC senator as president of the 8th Senate on June 9, 2015.

Sources further told THISDAY that the leadership of the APC may meet in the next few days to take a definite stand on the matter although the National Chairman of the party, Adams Oshiomhole, last Tuesday met with some APC Senators at his Aso drive, Abuja residence.

One Senator that attended the meeting that lasted till 2 a.m., confided in THISDAY that the issue was raised by Oshiomhole who stressed the need for the party to have a unity of purpose

and not repeat the mistakes of the past apparently referring to what played out at the inauguration of the 8th Senate in June, 2015 Meanwhile, THISDAY gathered that the top leadership echelon of the party is currently consulting on the issue, preparatory to setting up of a committee.

A chieftain of APC revealed to THISDAY yesterday that the next meeting of the National Working Committee (NWC) of the party will be devoted to fashioning ways of handling the issue.

Although there has not been any formal meeting held to discuss the issue of zoning, the matter is being considered as the next major challenge the party may have to face after the victory at the presidential and National Assembly polls.

According to the source, the party wants to wait for the conclusion of the next Saturday’s governorship and state Assembly elections before taking a final decision.

AmosunVisits Buhari, Says Suspension will Not Distract Him Governor of Ogun State, Senator Ibikunle Amosun has said that his suspension by the National Working Committee (NWC) of the All Progressives Congress (APC), over alleged anti-party activities, will not distract him from pursuing his targeted goal.

Speaking yesterday after paying a courtesy visit to President Muhammadu Buhari at the State House, Abuja, the governor, who is also a Senatorelect under the platform of the APC, declined further comments on his suspension, saying time was not ripe for him to talk on the issue.

“For now, I will not talk on

the suspension issue because I have learnt in life that when you are pursuing a goal, your eyes should be on the ball and not on the spectators. If you take your eyes off the ball, you will miss the goal,” he said.

While appreciating the people of Ogun State, especially people of the Ogun Central senatorial district, for voting for him to emerged senator on Saturday, February 23, the governor appealed to the entire people of the state to come out on Saturday to exercise their voting rights.

Rivers Govt Reassures Residents of Safety The Rivers State Government has advised residents and the people of the state to ignore the rumours making the rounds that there will be violent protests by some opposition politicians in the state.

The state Commissioner for Information and Communications, Emma Okah, in a statement issued in Port Harcourt yesterday, blamed the plot to scare people or cause violence in the state on the All Progressives Congress (APC) and their collaborators.

“The APC in the state has set their only house on fire and since they have no where to go, they have resorted to peddling rumours, scaring people and promoting violence,” Okah said, advising that those who are hiring students as tools of protest should first, bring back their children to be in the front line.

Okah said the same persons who inflicted problems upon themselves are now looking

for those to blame for their lawlessness.

He called on the people to remain law abiding and go about their lawful businesses in the State.

The commissioner promised that the state government will continue to respond to the needs of the people and their interest without fear, noting that the mandate of the people given to Govenor Nyesom Ezenwo Wike would be toyed with.

“We call on the Nigeria Police and other security agencies to watch the dangerous romance with the APC and invitation to operate as if security agencies are only for them and not for the protection of other Nigerians,” Okah said, pointing that no patriotic person will seek the destruction of his state simply because he is unable to force a government of his choice on the people.

STRATEGIC MEETING...

L-R: Former Deputy Governor of Delta State, Prof. Amos Utuama ; Governor Ifeanyi Okowa; former Governor James Ibori; and Delta State PDP Chairman, Mr. Kingsley Esiso, during Delta Central senatorial district meeting...weekend

Zamfara Guber Poll: APGA Candidate Drags Judge to NJC over Alleged Abuse of Office AlexEnumahinAbuja The governorship candidate of theAll Progressives Grand Alliance (APGA) in Zamfara State, Alhaji Sani Shinkafi, has dragged a Zamfara State High Court Judge before the National Judicial Council(NJC)overallegationsbordering on abuse of Office.

The petition, which was received by the office of the Chief Justice of Nigeria on February 26, alleged that the Judge, Justice Bello Shinkafi engaged in “gross abuse of office and judicial rascality”, when he presided over a political case

marked ZMS/GS/52/2018, pertaining to the March 9 governorship election.

Justice Shinkafi, in the petition was saidtohavespurnedthejudicialhierarchy, by going ahead to deliver judgment on a matter that was pending before the Court of Appeal in Sokoto.

The petitioner alleged that Justice Shinkafi took the action after he was notified that the Court of Appeal was already seized of the matter, thereby violating his right to fair hearing as enshrined under section 36 of the 1999 Constitution, as amended.

The petition, copies of which

were also sent to the Chief Judge of Zamfara State and Chairman of the Zamfara State Judicial Service Commission, read: “Please, refer to the above subject matters.

“I am the Zamfara State gubernatorial candidate of All Progressives Grand Alliance (APGA) for the 2019 general election.

“I applied to be joined as an interestedpartyintheabovenamedcase before Hon. Justice Bello Muhammed Shinkaft of Zamfara State High Court No 3.

“However, in a ruling the said

judge refused my application and I then headed to the Court of Appeal, Sokoto Division. .

“To ensure all court process and procedures were made in order and never take chance, my counsel had also filed a motion for stay of proceedings pending AppeaI before the High Court (copy attached). It is highly disturbing to have imagined how Justice Bello would go ahead to deliver judgment despite my appeal, pending before Court of Appeal.

No Life Lost as Aiteo Puts out Nembe Creek Fire Nigerian energy giant, Aiteo Eastern Exploration and Production Company (AEEPCo), has successfully put out the fire in the vicinity of its Nembe Creek Well-7, in Bayelsa State, thus averting loss of lives and other dangers to the communities in the area.

However, the community leadership has urged Nigeria’s oil and gas industry regulators to wield the big stick against the company over alleged poor

handing of an explosion within the Oil Mining Lease (OML) 29.

The fire had started behind Mile 1 community in the state, behind the early hours of Friday.

According to sources close to the site, Aiteo responded to emergency calls from the community and mobilised its team to the area.

It was later discovered that the fire was caused by an explosion at the oil company’s Well-7, which produces about 3,500 barrels per

day.

However, the fire was successfully put out on Friday, thus dousing the panic earlier generated by the incident in the community.

Initial reports claimed that scores of people were missing, but a source close to the company described the reports as untrue.

“Although we are still investigating the cause of the fire, what has been reported in the media is largely false and misleading. We have

confirmed from the community that no lives were lost, no property was damaged, and nobody is missing,” the source said. ‘’Fortunately for the company, the fire was at a location where there were no human elements and other assets belonging to the community. The fire was pretty much under control within a few hours without damage to anyone.

The report in the media alluding to loss of life is just sensational reporting,” the source added.

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PDP Demands Redeployment of Soldiers in Troubled Bayelsa Communities Lauds arrest of thugs who manhandled police chief Emmanuel Addeh in Yenagoa The Peoples Democratic Party (PDP) in Bayelsa yesterday

called for the replacement and redeployment of a new set of military officers to the troubled Nembe and Brass

Abe Cautions Cole against Abusing Judiciary The senator representing Rivers South-East senatorial district in the National Assembly, Magnus Abe has advised ousted gubernatorial candidate of the All Progressives Congress (APC) in Rivers State, Tonye Cole to stop raining abuses on the judiciary and Nigerian judges over the unfortunate situation the party in the state finds itself.

Abe said he was surprised that rather than thank Rivers people who came out in their thousands to vote for President Buhari and condemn the needless violence that characterised the elections in some parts of the state, Cole came out to abuse the Nigerian judiciary and ascribe every vote received by the APC to his and that of the Minister of Transportation, Mr. Rotimi Amaechi.

The Senator who spoke while addressing party supporters that came to celebrate the victory of President Muhammadu Buhari at the February 23 election at his residence in Abuja, reminded Cole that it is a known fact that elections did not take place in his (Cole) Local Government Area (LGA) and that of the Minister of Transportation.

He said, “I and other leaders of the APC gathered our scarce private resources to mobilise party members in all th 23 LGAs of Rivers State, and APC members responded by coming out in their thousands to vote for Mr. President.

“No one should denigrate the contributions of others, this was not NDDC, NIMASA, NPA, railway or Presidential Campaign Council funds - this was money contributed

by APC leaders out of love for Mr. President and his contributions to Rivers people.

“Cole and his co-travelers have no right to lay claim to every vote as that of their efforts and of Amaechi alone. He should acknowledge the contributions of other leaders. Whatever the motive of his press conference he should try to achieve it without running down the contributions of other leaders.

“The senator stated that it is a nationally known fact that more

people, including the Mr. Dumo Lulu-Briggs defected from the minister’s faction of the APC. Name calling and trying to blackmail other leaders will not solve the challenges facing the party in Rivers State.

“Rather humility and genuine introspection that acknowledges that mistakes were made will help us to heal and move forward,” he stated.

Abe, however, advised Cole and Amaechi to look inwards for the real reason the party is in the quagmire it has found itself, “after all, the judges were in their courtrooms when the APC leadership took the decision to exclude members from party congresses, collect over N18 million from party members, deny them their constitutional rights as party members, publicly disobey the courts, physically attack the judiciary, and proceed in wanton and open display of contempt to use delegates that had been twice voided to elect Cole.

“Cole should also remember that he landed in the middle of a raging conflict with no idea of what was even going on in the party.

“People know that the 22 members of the APC who went to court on behalf of other party members, have contributed more to the APC in Rivers State than Cole and they are major stakeholders in the party as pioneer ward chairmen. They were part of those who put their lives on the line to build the APC in Rivers State.

“When the former President Goodluck Jonathan’s government was chasing these same people, Cole was comfortably doing business with the same government he never uttered a word against the hell that these people went through. He cannot simply turn up now with police and army by his side and begin to accuse the same people of working for the PDP, the same PDP he just finished working with.

Senior Lawyer, Nwobike Loses Wife The families of Blessing Nwobike of Ogbodo-Isiokpo, Rivers State and Kabiru Adebanjo of Ijebu-Itele, Ogun State have announced the death of their wife, mother, daughter, sister and aunt, Mrs Olubunmi Nwobike (Nee Adebanjo), which occurred on February 21, 2019 of Mrs. Olubunmi Nwobike (Nee Adebanjo). She was aged 51.

A statement made available to THISDAY said while Service of Songs will hold between 6p.m. to 8.p.m. on Tuesday, March 12, 2019 at Banquet Hall, Sheraton Hotels & Towers, Mobolaji Bank-Anthony Way, Ikeja, Lagos, funeral church

service and interment will hold at Ebony Vaults Ikoyi, 3, James George Street, Off Alagbon Close, Ikoyi, Lagos by 11a.m. on Wednesday, March 13, 2019.

Mrs. Olubunmi Nwobike

Local Government Areas (LGAs), alleging that those who were on duty during the February 23 elections had already been compromised.

The party has however, lauded the leadership of the Nigerian Police for the “bold” decision to arrest the masterminds of the abduction of the Deputy Commissioner of Police in charge of Federal Special AntiRobbery Squad (FSARS), Mr. Kola Okunola, during the last election.

The Chairman of the party in the state, Chief Moses Cleopas, in a statement issued in Yenagoa, also raised the alarm that over 2,000 members of PDP loyalists who fled the violence in Nembe Bassambiri on the eve of the presidential election were being

prevented from returning to their homes.

The PDP called on the federal government and the relevant security agencies to intervene in the tense security situation in Nembe Bassambiri where thugs allegedly backed by soldiers reportedly attacked their members to cart away election materials to Dairus Hotel for thumb-printing.

The state PDP chairman called on the Nigerian Army High Command to deploy a fresh set of soldiers to Nembe and Brass LGAs, insisting that the current set of soldiers had been compromised to tarnish the image of the establishment by aiding criminality and electoral violence in the state.

Cleopas expressed shock that

the army had not been able to arrest any of the alleged APC thugs who had been shooting and harassing innocent people in the area.

He said it was rather shocking that the Nigerian Army had commenced a process of harassing innocent members of the PDP with a view to perpetrating low voters turnout to the detriment of the party in the area.

“Soldiers were sighted discussing with APC thugs who led people to break into the residence of a PDP stakeholder in the area, and former Commissioner for Special Duties, and later Water Resources, Chief Kuroghofa Walter Benwari.

“We call on the security

agencies to ensure that the PDP members who fled Bassambiri during the attack by thugs aided by soldiers in Nembe Bassambiri are allowed to their residences without harassment,” he said.

However, the PDP chairman has lauded the leadership of the Nigerian Police for the “bold” decision to arrest the masterminds of the abduction of the Deputy Commissioner of Police in charge of FSARS, Mr. Kola Okunola during the last election.

He called for immediate prosecution of the people that abducted Okunola and almost beheaded him before he was rescued for refusing to accept to manipulate the results in favour of an APC stalwart.

ANOTHER FEATHER TO HIS CAP...

Enugu State Governor and governorship candidate of the Peoples Democratic Party (PDP), Hon. Ifeanyi Ugwuanyi (left), receiving ‘The Choice Flame Governor of the Year Award’ from the Catholic Bishop of Enugu Diocese, Most Rev. Callistus Onaga, during the Silver Jubilee anniversary of The Choice Flame Newspaper, the official publication of the Diocese, held at Holy Ghost Cathedral, Enugu ... yesterday

NGE CondemnsViolence During Presidential Election Raheem Akingbolu The Nigerian Guild of Editors (NGE) has condemned the violence that characterised the just- concluded presidential and National Assembly elections, in many parts of the country, which led to loss of lives and burning of several electoral materials.

The group has called on stakeholders in the Nigerian project to review the country’s electoral process to ensure a better exercise in future, particularly the coming gubernatorial and State Assembly elections.

According to the communiqué issued at the end of the first quarterly meeting of

the standing committee of the NGE in Lagos at the weekend, which was organised to review the 2019 general election, with particular reference to the presidential and National Assembly elections, the body noted that there is a compelling and urgent need to take steps to address the lapses observed during the elections.

The communiqué, which was jointly signed by the NGE President, Funke Egbemode, and its General Secretary, Victoria Ibanga, called on the government, security agencies, INEC and politicians to strive to live above board and avoid every action that could lead to a breakdown of law and order in future elections.

Kogi West PDP Congratulates Winners of N’Assembly Election The Kogi West chapter of the Peoples Democratic Party (PDP) in Kogi State has congratulated the senator-elect for the zone, Senator Dino Melaye, and the member-elect of the House of Representatives, Hon. Tajudeen Yusuf, for emerging victorious in the recent National Assembly election.

In a congratulatory message signed by the Chairman of PDP in Kogi West senatorial zone, Mr. Taiwo Kola-Ojo, the party also congratulated the PDP

members and supporters across the zone for their collective and resounding victory at the National Assembly and presidential elections, saying the victory was well deserved.

“There is no doubt that Kogi West people’s vote for our great party reflect their appreciation of our law makers who have been working assiduously at improving their living conditions thereby putting smile on their faces. The presidential and National Assembly elections

showed that Kogi West is - and will always remain - a true and solid home of the PDP, having again delivered our senatorial district to the PDP presidential candidate, Alhaji Atiku Abubakar, Senator Dino Melaye and Hon. Tajudeen Yusuf,” Kola-Ojo said.

The PDP chairman called on the people of Kogi State to come out massively in the March 9 elections to vote for the PDP and also protect their votes against what he described

as “the antics of the ruling party, especially at the various collation centres”.

“My people should again note that a vote for the PDP is for: full and constant salary and pension payment; employment opportunities; massive infrastructural development; freeing Kogi from hunger , abject poverty and untimely death; and freedom from insecurity, intimidation, harassment and oppression,” Kola-Ojo added.

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CAN Congratulates Buhari, JNI Asks Atiku to Accept His Fate Onyebuchi Ezigbo in Abuja The Christian Association of Nigeria (CAN) in the 19 northern states has congratulated President Muhammadu Buhari, urging

him to run an inclusive government this time.

This is coming as the Sultan of Sokoto and leader of the Jama’tu Nasril Islam (JNI), Muhammad Abubakar, has also congratulated Buhari,

Oshiomhole Played Bigger Anti-party Roles in APC, Okorocha Alleges Raheem Akingbolu The Imo State Governor, Rochas Okorocha, has dismissed his suspension by the All Progressives Congress (APC), as illegal and a self-serving action taken by the chairman of the party, Adams Oshiomhole, to achieve his disruptive agenda for the party.

Speaking in an interview with Channels Television, which was monitored by THISDAY yesterday, the governor alleged that Oshiomhole played anti-party roles in APC. “All the people being promoted

by Oshiomhole in APC in Imo State, including Senator Hope Uzodinma, didn’t win their unit at the just-concluded presidential

and National Assembly elections.

To me, that is the greatest antiparty on the part of the coalition group and the party chairman.

That Oshiomhole gave the party’s ticket to a man who joined the party few months before the primaries is also an anti-party behaviour. If not for Buhari, APC would have witnessed a serious setback in the last election because of the impunity perpetrated by Oshiomhole,” he said.

Okorocha, who described the APC’s gubernatorial candidate in Imo State as an impostor, however added that his former Chief of Staff, who is also the candidate of the Action Alliance, Uche Nwosu, only puts on the AA garment, while his heart is with the APC.

calling on the opposition to sheath their swords.

Buhari was re-elected in the February 23 election, defeating Atiku Abubakar, candidate of the Peoples Democratic Party (PDP), who had since rejected the outcome of the election.

In a letter to the president dated March 1, 2019, the northern CAN said Buhari’s victory at the poll was evidence of his uprightness and transparency in governance.

“Run an inclusive government as you promised under the new dispensation to unite the diverse people of Nigeria now, more than

ever before,” read part of the statement signed by Yakubu Pam, chairman of the association.

“Mr. President, sir, the Bible says to whom much is given, much is expected. We wish to appeal that you continue to be father to all in Nigeria as we look forward to seeing prosperous nation in the next four years of your second term in office “Aware of this victory at a time the people of Nigeria are looking up to you for quality leadership, we urge you to double your efforts in the fight against insurgency, internal security and corruption in

the country.”

In a similar manner, the Sultan of Sokoto and leader of the Jama’tu Nasril Islam has also congratulated Buhari, calling on the opposition to sheath their swords, according to a statement, Khalid Abubakar.

“However, we call on all the political contenders in Nigeria to, in the name Allah, take it easy and sheath their swords as in every contest there will always be a winner and a loser.

“But in this case, all the contestants are the winners, because Nigerians are now beginning to understand the dynamics of politics and democracy.

“Moreover, Nigerians must be in peace with one another before anybody will think of governing the entity called Nigeria, except if he/she thinks otherwise.

“Peace must be embraced by all as Nigeria clearly needs peace for its growth and development and considering that the governorship and State Houses of Assembly elections are coming up on Saturday.

“We use this medium to appeal to all politicians and their supporters to embrace peace and also be decorous in actions and speeches, before, during and after the elections.”

PDP’sVictory in A’Ibom Manifestation of People’s Wish, Says Emmanuel Following the just concluded elections, Governor Udom Emmanuel of Akwa Ibom State has attributed the victory of Peoples Democratic Party, PDP, in the state to providence, stating that no human manipulation can change the course of history.

The governor, through his Chief Press Secretary, Ekerete Udoh, however, refuted reports that he would give Senator Godswill Akpabio a soft landing after the defeat, describing it as a lie and figment of the imagination of Akpabio’s media team.

He said, “Our attention has been drawn to a malicious propaganda in the social media

platforms by Senator Akpabio’s media hirelings that having been roundly rejected by the people of North-West senatorial district, that he has negotiated a soft landing with Governor Emmanuel, “We wish to tell the good people of Akwa Ibom State and, indeed, the world that this is false and a lie from the pit of hell” Emphasising the governor’s pleasure at the outcome of the elections, he said, “Governor Emmanuel is happy that the wishes of the people of the Akwa Ibom North-west senatorial district have been boldly expressed through their votes.”

Institute of Directors Honours Bella Disu with Full Membership The 2019 New Members Induction ceremony of the Institute of Directors has been held at Eko Hotels and Suites, Lagos with 66 new members, including the Executive Vice Chairman, Globacom, Mrs. Bella Disu, admitted as members.

Disu, who is also a Director of Julius Berger Plc, the country’s biggest construction company, was one of those who bagged the Institute’s full membership alongside others who got associate membership and life memberships.

Established 35 years ago, the Institute of Directors develops directors by inculcating leadership skills in them to enable them to lead their organisations well and develop the country.

The President and Chairman of the Governing Council of the Institute, Alhaji Ahmed Rufai Mohammed, in his welcome

address, advised the new members on thé importance of corporate governance in leadership.

He also urged them to adhere to continuous learning to remain competent.

In his lecture at the occasion titled “Eight Technologies every Director needs to be aware of”, the Chief Economist for PricewaterhouseCoopers, Dr. Andrew Nevin, stated that poverty will be banished in the country if the number of private sector companies is increased. He explained that Nigeria gets the largest foreign exchange from its people working in the diaspora.

According to him, the eight technologies required by the new members to enhance their capacity and competence include Cloud computing, Artificial Intelligence, 3D Printing, Drones, Virtual Reality, Internet of Things, Robotics and Blockchain.

THANKSGIVING SERVICE...

Edo State Governor, Mr. Godwin Obaseki (left), and General Superintendent, New Covenant Gospel Church/ President, Pentecostal Fellowship of Nigeria (PFN), Rev. Felix Omobude, during the special thanksgiving service held to commemorate successful presidential and National Assembly elections, at the New Covenant Gospel Church, Benin City...yesterday

I’m Too Busy to Bother about Who Becomes Next Speaker, Says Dogara The Speaker of the House of Representatives, Mr. Yakubu Dogara, has said that he should not be bothered about the composition of leadership of the next House of Representatives.

He also noted that the tenure of the current House still extends to the next three months, adding that there were many pending

issues before it.

Dogara made this known in a statement signed by his Special Adviser on Media and Public Affairs, Mr. Turaki Hassan, yesterday in Abuja.

The Speaker said that the pending issues before the House needed urgent legislative attention, including the 2019 Appropriations

Bill.

“The Speaker is concentrating on accomplishing all he promised in the Legislative Agenda of the House of Representatives.

“Who becomes what in the 9th House of Representatives is not the concern or business of the current Speaker, Rt Hon Yakubu Dogara.

“You should please spare him from these unfounded speculations,” Turaki said.

The News Agency of Nigeria reported that a section of the media has been awash with reports on likely prime contenders in the leadership race of the two chambers of the assembly.

Atiku’ll Reclaim Mandate in Court, Says Campaign Group Kayode Fasua Following the declaration of President Muhammadu Buhari as winner of the February 23 presidential election, the Atiku/ Obi Presidential Campaign Organisation has vowed that its principal, former Vice President Atiku Abubakar will reclaim “his stolen mandate” in the court.

Speaking on the fallout of the poll in an interview with THISDAY, an Assistant Coordinator for the organisation, Mr. Olumide Ogunkua, said, “this injustice will not go unchallenged.”

Ogunkua who said Atiku was already briefing his legal team, noted, “we have unassailable facts to prove that Atiku was robbed at critical stages of the electioneering process, and that

is why, as a law-abiding citizen, he will proceed to court to seek redress.

“We are aware of how the powers-that-be used thuggery, intimidation of voters, and the art of framing up leaders of the PDP, to conceal a well rehearsed rigging strategy.”

Ogunkua said the election had been foreclosed by those who relied on rigging to win, with its postponement at the wee hours of election day on February 16, stressing, that “we will not be dismayed in demanding for justice before the law court, as we cannot trade violence with violence.”

He said the Peoples Democratic Party (PDP) had been duly nurtured by former President Goodluck Jonathan, “who

demonstrated his love for peace in the manner he conceded victory to then All Progressives Congress (APC) presidential candidate, General Buhari (retd).”

“But in our case, rather than take to the streets protesting the brazen theft of our mandate, we are taking a cue from former President Jonathan who is an apostle of peace, by quietly proceeding to court with our facts and figures,” Ogunkua averred.

Meanwhile, a pressure group in the Ondo State PDP-the Sunshine Youth Advocates (SYA), has commended security agents for allegedly foiling an attempt to rig the Ondo Central senatorial election in favour of the immediate past governor of the state, Dr. Rahman Mimiko.

The group, in a statement by

its president, Mr. Seyi Ologunaye, and secretary, Miss Ola Bello, claimed that ballot boxes filled with votes, were Akure-bound for final collation, but that they were curiously returned to Ondo, allegedly by some officials of the Independent National Electoral Commission (INEC).

Mimiko, who hails from Ondo West local council, is the senatorial candidate of the Zenith Labour Party (ZLP). He lost to his PDP opponent, Senator Ayo Akinyelure.

Commending the security agents, the SYA stated, “Security reports from credible sources reached us that ballot boxes for the senatorial election being brought from Ondo to Akure were suddenly returned after the INEC officials received a telephone call to retreat immediately.

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MONDAYSPORTS

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

CONFED CUP

Etoile’s Panenka Penalty Grounds Rangers in Enugu Femi Solaja

The quest of Rangers International FC to revive their chance of reaching the knockout phase of the CAF Confederation Cup may have hit the rock following the 0-2 home loss to visiting Etoile du Sahel of Tunisia yesterday at the Nnamdi Azikiwe Stadium in Enugu.

The visiting team achieved the result in grand style with the famous Panenka penalty that gave them the second goal to extinguished any hope of the Nigerian side reaching the knockout phase of the second tier continental club competition.

Panenka is a technique used in penalty kick-taking in which the taker, instead of placing the ball to the right or left of the goalkeeper, gives a subtle touch underneath the ball, causing it to rise and fall within the centre of the goal, thus deceiving the keeper who may have opted to either side of the goalpost. The famous style was introduced by Czech player Antonin Panenka in 1976.

Tunisian Iheb Msakni took the important penalty to double his team’s lead when Rangers’ goalkeeper, Nana Bonso was

left stranded as the feeble kick sail slowly into the net and extended a frustrating day to the half filled crowd at the stadium.

The result sees the Tunisian side at the top of the Group B with seven points from four games while Rangers are last on four points.

It was a slow start to the match with both sides tentative in attack, but it sprang into life in the 19th minute when Maher Hannechi gave Sahel the lead after a clinical finish.

Rangers took control of the match after that and dominated the possession stakes, but their decision in the final third resulted in very few decent scoring chances.

In fact, despite have 61 per cent of the ball in the opening half, Rangers only managed one shot on target as the half ended 1-0 in favour of the visitors.

The start of the second half saw the home side continue to dictate terms, but the wind was taken out of their sails when Etoile du Sahel doubled their lead after Iheb Msakni converted from the penalty spot in the 69th minute.

The Tunisian side sat back in defence after that and seemed content to defend their lead.

Victor Moses Explains Why He’s Has Not Hit Form in Turkey Fenerbahce winger Victor Moses has admitted that he’s not yet in tiptop condition because of his lack of first-team opportunities in the first half of the season at Chelsea.

Before completing his move to the Yellow Canaries on January 25, the former Nigeria international logged only 176 minutes of a game time from a possible 3,240 minutes in 36 games across all competitions for The Blues.

Speaking after netting the winning goal against Rizespor on Saturday, Moses told Fenerbahce Television :

‘’When I came here, I wasn’t a hundred percent ready. ‘’I didn’t get much playing time at Chelsea. I came here to play. Our manager gives me this opportunity. I am not yet 100 percent ready, but every match is an advantage for me. ‘’I will definitely be 100 percent ready. I’m trying to enjoy my football. I play on the right and left. I want to help the team. We want to go higher. This is our only goal.’’

Moses came off the bench in his first three appearances for Fenerbahce and has started their last five matches.

Rangers tried to attack, but much like the first half they were wasteful in front of goal as

Bendel Insurance recorded the sixth draw since returning to the Nigerian Professional Football League (NPFL) at home in Benin City against visiting Enyimba FC yesterday.

The goalless draw in the rescheduled game means the Edo Arsenal remains in the drop zone of Group A of the abridged 2018/19 NPFL season while Enyimba on the other hand remains third on the log.

Remo Stars defeated Wikki Tourists 2-1 in Sagamu to move to fifth spot on the log with 11 points from seven matches.

Depending champions Lobi Stars also stay second from the bottom following the 1-1 draw with Katsina United in Makurdi.

In another rescheduled match in Group B, Akwa United picked one point from the 2-2 draw away to Gombe United and stays in third place.

They are two points behind both FC Ifeanyi Ubah and ElKanemi Warriors at the top of the log while Yobe Desert Stars who lost 2-1 to Kada City in Kaduna remains at the bottom of the table.

NPFL RESULTS (Rescheduled Matches) Kada City 2-1 Yobe Stars Insurance 0-0 Enyimba FC Gombe Utd 2-2 Akwa Utd Remo Stars 2-1 Wikki Lobi Stars 1-1 Katsina Utd

back from this loss next weekend when they face Salitas of Burkina Faso on Sunday,

March 10. Etoile du Sahel will also be in action on the same day away to CS Sfaxien.

Kamaru Usman is the new Welter Weight champion of the UFC

UFC 235: Kamaru Usman Becomes First African Champion Kamaru Usman has become the first African fighter to win a Ultimate Fighting Championship (UFC) title.

The 31-year-old Usman from Auchi in Edo State defeated Woodley across all five rounds to get a winning decision from the judges in the mixed-martial arts (MMA) bout against American Tyron Woodley.

The fighter, known as the “Nigerian Nightmare”, dominated the Las Vegas contest for the welterweight title.

The UFC is the biggest competition in MMA, where competitors combine boxing, kickboxing, jiu-jitsu, wrestling and other disciplines while fighting in an octagonal cage.

Usman produced the performance of his career to dominate long-reigning welterweight champion Woodley.

He extended his winning streak to 14 and maintained his unbeaten record in the UFC. In his post-match press conference he revealed that before the match he had fractured his foot and had been walking around in a supportive boot all week.

He started off the press conference by greeting journalists in Arabic before switching to Pidgin.

“Nigeria, I have told them, we would do it, I told them we never fail. And we have done it today,” he said in Pidgin

Usman was born in Nigeria, but left Benin City for Arlington in Texas as a young child when his family migrated to the US. Twenty-three years later, he is proud of his nickname, the Nigerian Nightmare, he told BBC World Service’s Sportsworld.

But he is not the only sportsman known as the Nigerian Nightmare - something he is aware of.

He invited two others with the moniker to his match - the former professional boxer Samuel Peter and the former Kansas City Chiefs American Football, Christian Okoye.

Usman, a former winner of the Ultimate Fighter TV show, began wrestling at high school

in Texas and was a top prospect throughout college.

“It was kind of time to make a switch and not just be a wrestler any more, but to be a fighter and to go and make a living for not just myself but my family as well,” he told Sportsworld.

Athletes like Usman have been switching over to UFC from other disciplines as the competition experiences a phenomenal rise in popularity.

The trend is illustrated in UFC’s price - the competition was bought in 2001 for $2m by the Fertita brothers. They sold it to a group of firms in 2016 for $4bn, according to Forbes business magazine.

LET: Oboh Misses Cut in Australian Test Olawale Ajimotokan

NPFL: Enyimba Holds Insurance to another Draw in Benin

the match ended 2-0 in favour of Etoile du Sahel.

Rangers will try to bounce

It was not a good start for Georgia Oboh at her maiden Ladies European Tour (LET) after the teenager failed to make the final cut at the Canberra Women’s Classic at Royal Canberra Golf Club in Australia.

But it was Anne Van Dam from The Netherlands that surged

home on the final nine to win the Canberra Women’s Classic at Royal Canberra Golf Club by three strokes: her third LET title inside six months and her fourth overall.

Oboh went into the competition with a ray of hope but her debut on LET was not impressive after the Nigerian finished in joint 131 amidst 144field of players on day one

to miss out from the cut.

Oboh blamed her poor form to not getting completely comfortable on the greens and her late arrival at the tournament due to long flight delays from South Africa where she competed on the Sunshine Ladies Tour.

The 18-year-old, however, admitted that this was a baptism that will propel her forward and help her adapt to life on the tour.

At a tournament which had some of the best players on the Ladies European Tour including Dame Laura Davies and a host of other past Solheim Cup players, other top players from South Africa who also missed the cut included the winner of the South African Women’s Masters Leján Lewthwaite and long drive champion Phillis Meti from New Zealand.

EPL: Everton Dents Liverpool’s Title Ambition with Draw

rWatford welcomes Rodger back with defeatrChelsea wins

Everton ensured Manchester City remained top of the Premier League as they produced a battling performance to hold Liverpool to a goalless draw at Goodison Park.

Liverpool needed victory to leapfrog City after their win at Bournemouth but Jurgen Klopp’s side lacked the cutting edge to break the deadlock in a tense Merseyside derby.

Everton goalkeeper Jordan Pickford, the villain when Divock Origi scored Liverpool’s

96th-minute winner at Anfield in December, was the hero with a brilliant first-half save from Mohamed Salah, who was denied by a superb last-ditch challenge from Michael Keane after the break.

Manchester City now stand a point clear with nine games remaining.

Also yesterday, Fulham Caretaker Manager Scott Parker said he is planning for the long term after his first match in charge

ended in a narrow 2-1 defeat by Chelsea.

The Premier League strugglers produced a much-improved performance in their first game since the sacking of Claudio Ranieri, but remain deep in relegation trouble.

With nine matches remaining, they are 10 points from safety and have lost eight of their past nine league games.

Earlier yesterday, Troy Deeney insisted there will be no Watford

“meltdown” this season after the Hornets continued their impressive campaign with a late 2-1 victory over Leicester in Brendan Rodgers’ first game in charge of the Foxes.

Second-half substitute Andre Gray finished coolly past Kasper Schmeichel in injury time to lift the hosts level on points with seventh-placed Wolves.

Deeney had given Watford an early lead, heading Gerard Deulofeu’s cross past Schmeichel.

Monday March 4, 2019

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UT H

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MISSILE Okorocha to Oshiomhole “When the APC members across the nation are still celebrating the success of the party, Oshiomhole in his wisdom or lack of it, felt that the best action in the circumstance was to suspend two governors who did well in the election, even when he played safe in 2015 and 2019 in Edo State without any known pressure” – Imo State Governor, Rochas Okorocha, accusing the National Chairman of the APC, Adams Oshiomhole, of planning to destroy the party with his suspension.

IJEOMANWOGWUGWU BEHIND THE FIGURES

ijeoma.nwogwugwu@thisdaylive.com

The Enemies Within M

y initial instinct was to title this article, ‘Different Strokes for Different Folks.’

It was supposed to lay bare the double standards that have characterised governance under the Muhammadu Buhari administration. The administration had found a leader of the ruling party and former governor of Lagos State, Bola Ahmed Tinubu, free from sin just because he is a member of the All Progressives Congress (APC).

Tinubu without fear or equivocation had questioned why anyone would take aerial photographs showing bullion vans entering his residence on Bourdillon Road, Ikoyi, Lagos, on the eve of the presidential election.

According to him, he does not work for any agency of government, nor had he been awarded any contract, so there was nothing wrong with him spending his money as he deemed fit. “I’m on my own and I am committed to my party… so even if I have money to spend in my premises, what’s your headache… if I have money, if I like I give it to the people for free of charge as long as it’s not to buy votes… So who are those watching my house and looking at bullion vans, they must be mischief makers.

They report falsehood…,” he told reporters who had tried to confirm the veracity of the pictures that had gone viral on election day.

Tinubu, no doubt, has a right to spend his money as he deems fit. If his preference is to give away his money to the poor in and around Lagos, good for him. He would be joining a long list of philanthropists around the world such as Bill Gates, Warren Buffet, Mo Ibrahim and Aliko Dangote. The big difference is that unlike him, they channel their excess wealth through the foundations that they have set up and through legal financial channels that can withstand scrutiny.

Tinubu, on the other hand, is no different from the numerous past ministers and governors that served under the Goodluck Jonathan administration, but today are being tried for allegations of money laundering and handling cash outside regulated financial institutions in the days running up to the 2015 elections. But then again, these men and women, whom his newspaper The Nation gleefully gives considerable front page mention, are “sinners”. Tinubu, in contrast and owing to his membership of the APC, is worthy of sainthood.

But let me not waste too much time on what is very obvious to every Nigerian, except to the mindless sycophants who were around Tinubu when he spoke to reporters and yet found his response hilarious. I’m sure that those persons who were with Tinubu are no longer laughing as they contemplate and head into the governorship elections next Saturday. The Jagaban, as they sometimes call him, is facing a clear and existential threat that could consume him, depending on the outcome of the governorship elections in Lagos and perhaps Oyo State. That threat, ironically, is not from the non-indigenous residents, led by the Igbos, in Lagos, but from the enemies within.

Tinubu’s influence in Lagos, like I have long suspected and alluded to in passing, is fast waning. He has used the monetary

Tinubu

patronage that Nigeria’s commercial capital illicitly provides him to rule the state by proxy for as long as he can, but even that no longer appears to be foolproof. On the day of the presidential election, he assigned his thugs and street urchins to scare away Igbo residents from polling units and has continued along this path, days after the election in order to suppress voter turnout during the governorship election in areas populated by non-indigenes. Unsurprisingly, Igbo residents in Lagos are seething and questioning what right Tinubu and his men have to deprive them of their civic rights in a place where they reside, as guaranteed by the constitution; are generally law abiding and contribute to the economic development of the state.

My advise to them is that they should try not to get caught in a proxy war that is no business of theirs. You see, Tinubu’s greatest fear is not the Igbos living in Lagos but members of his own party, the APC, who are circling like vultures and waiting to rip his carcass apart. In his party, Tinubu has made a lot of enemies that would like to see the back of him and get the same treatment that was meted out to Senate President Bukola Saraki in Kwara State just

a few days ago. The presidential cabal does not like him, Akinwunmi Ambode wishfully prays for his downfall, Nasir el-Rufai cannot stand him, Rotimi Chibuike Amaechi detests him, Ibikunle Amosun does not want him anywhere his state, Ogun, while the likes of Rotimi Akeredolu, Kayode Fayemi and Babatunde Fashola, barely tolerate him.

Within the APC, they see him as a spent force, quietly acknowledge that he has long been overrated and allege that he could not even deliver Lagos at the just concluded presidential election. They were unimpressed with the performance of the party under his watch in Lagos (and the Southwest), despite the suppression of voters and state-sponsored violence. Given what they all know, it is in Tinubu’s interest to suppress the Igbo vote if he must maintain his vice-like grip over Lagos. But my take is that he bears no personal grudge against the Igbos resident in the state and recognises their usefulness and contributions in making it Nigeria’s economic hub. The major snag, however, is that they pose a stumbling block to his desire to hold on to Lagos. Without it, he can kiss his presidential bid in 2023 goodbye.

Without it, he will not be able to fend off the federal might using a section of the Lagos media and civil society groups that he funds and controls. Without it, he is finished!

Depending on the mood in Abuja, two scenarios are likely to play out in Lagos on Saturday, March 9, the date slated for governorship elections: One, is for the federal government to provide security cover to non-indigenes and other Yorubas who want an end to Tinubu’s reign to exercise their franchise without the looming threat of his hired goons. Some might argue that Tinubu was able to hold on to Lagos for 16 years when he was in opposition, despite everything that the federal government threw at him at the time. Yes he did, but they miss one important point: The PDP-led administrations, even under former President Olusegun Obasanjo, were not as vicious and unafraid as the APC-led government of today.

The second scenario is to allow Tinubu to have his way by not providing the security cover to those opposed to his hegemony.

Tinubu’s greatest fear is not the Igbos living in Lagos but members of his own party, the APC, who are circling like vultures and waiting to rip his carcass apart. In his party, Tinubu has made a lot of enemies that would like to see the back of him…

Within the APC, they see him as a spent force, quietly acknowledge that he has long been overrated and allege that he could not even deliver Lagos at the just concluded presidential election

Should the latter happen, Tinubu would most likely hold on to his precious Lagos and install his anointed candidate Babajide Sanwo-Olu. Then, come 2023, when he turns back to the same non-indigenous residents and their brethren in the Southeast and South-south to back his presidential bid, I wonder what their response will be. Surely, Tinubu cannot be banking on the North to support him in 2023. That is a pipe dream best left to his imagination.

Besides, by his own doing, Tinubu has made Lagos irrelevant in the scheme of things politically. States like Kano, Kaduna, Jigawa, Borno and Katsina, according to the results produced by the Independent National Electoral Commission (INEC), had better voter turnouts in the presidential election than Lagos with the highest number of registered voters in the country, effectively downgrading the state’s status as a bargaining tool for future elections.

But it is not just Lagos Tinubu has set his sights on winning next Saturday. He is also zeroing in on Oyo, the second largest state in the Southwest geopolitical zone.

To many people’s surprise, Oyo fell to the opposition Peoples Democratic Party (PDP) in the presidential election. And this has caused Tinubu nightmares, which he has set out to overcome. He has convinced the former governor of the state, Christopher Alao-Akala, who holds considerable influence over his base in Ogbomosho, a major voting bloc in Oyo, to jettison his governorship bid on the platform of the Action Democratic Party (ADP) and return to the APC. The goal is to ensure Adebayo Adelabu, the APC governorship candidate, trounces Seyi Makinde of the PDP. It remains to be seen if Tinubu can trust Alao-Akala to deliver, given Makinde’s popularity and the general dissatisfaction with Abiola Ajimobi’s stewardship as governor of Oyo State for the past eight years.

Of course, Ogun State is a no go area for Tinubu. Amosun has in words and deeds made it abundantly clear that he wants to remain the head honcho in the state.

Tinubu cannot even approach Ladi Adebutu or the aggrieved faction of the PDP in the state, as Amosun was quick enough to get them in his corner to support his candidate Adekunle Akinlade of the Allied Peoples Movement (APM).

My fervent wish is that Tinubu does not succeed in his grand design to hold on to Lagos and get the bragging rights over Oyo. Despite my opposition to the APC and particularly its policies, I cannot but stand with Tinubu’s enemies within. The grand theft and violation of Lagos must come to a close. Lagos, contrary to what its media would have the public believe, continues to punch well below its weight relative to other mega cities globally. The absence of or failing infrastructure, a workable waste management system, perverse corruption, dilapidated health care and education facilities, and chaotic transportation network in Lagos, are symptomatic of everything wrong with Nigeria. If Lagos is allowed to become the reformist and transformational pathfinder that it has the potential to be, the rest of Nigeria will follow suit.

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