WEDNESDAY 6TH MARCH 2019

CBN Bans Sale of Forex to Importers of Textiles Mulls single-digit funding intervention for sector James Emejo in Abuja Citing the whopping $4 billion spent annually on importation of textile materials into the country, the Central Bank

of Nigeria (CBN) yesterday added all forms of textile materials to the list of items that are not eligible for foreign exchange from the official windows with immediate

effect.

The apex bank has, however, promised a financial intervention to textile manufacturers with the provision of funds at single

digits rate, to refit, retool and upgrade their factories to enable them produce high quality textile materials for the local and export market.

Speaking yesterday at a

meeting with stakeholders in the textile industry in Abuja, the CBN Governor, Mr. Godwin Emefiele, said the decision was critical towards reviving the moribund sector

and creating jobs for Nigerians.

He warned all FX dealers in the country to desist from granting any importer of textile Continued on page 8

UK: Nigeria’s Anti-corruption Fights Frustrated by EFCC, Others... Page 10 Wednesday 6 March, 2019 Vol 24. No 8731. Price: N250

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One Week After, INEC Fails to Explain Discrepancies in Presidential Poll Figures Insists use of smart card reader mandatory for gov contest Adedayo Akinwale in Abuja One week after the Independent National Electoral Commission (INEC) declared President Muhammadu Buhari of the All Progressives Congress (APC) as the

president-elect, the electoral umpire has failed to provide explanations on discrepancies noted in the results of the February 23 presidential election it announced last Wednesday.

And following the rising

objection to the use of smart card reader by prospective candidates in the forthcoming governorship and state Houses of Assembly elections, the electoral body has insisted that the use of the electronic device is mandatory.

The substantive issues are discrepancies in the number of registered voters announced before and after the presidential election as well as disparities in the number of voters accredited and total votes cast at the poll.

Prior to the presidential and National Assembly elections, the INEC had revealed that the total number of registered voters was 84,004,084. But announcing the result of the election, the INEC Chairman, Prof. Mahmood Yakubu, put

the number of registered voters at 82,344,107.

Also, in order to ensure voters were not disenfranchised, the commission adopted Continued on page 8

Atiku at Petition Tribunal, Seeks Order to Inspect Election Materials We are anxious to meet Atiku in court, says APC PDP marches on INEC headquarters, protests electoral infractions Onyebuchi Ezigbo, Alex Enumah, Adedayo Akinwale and Udora Orizu in Abuja The presidential candidate of the Peoples Democratic Party (PDP) in the February 23 presidential election, Alhaji Atiku Abubakar, and his party yesterday in Abuja, commenced legal processes, challenging the victory of President Muhammadu Buhari and the All Progressives Congress (APC) at the poll.

Atiku filed an ex-parte motion at the Court of

Appeal in Abuja, venue of the Presidential Election Petition Tribunal, in which, along with the PDP, he prayed for an order compelling the Independent National Electoral Commission (INEC) to allow them inspect the voter register and other vital documents used in the conduct of the election.

As the legal processes commenced, the PDP besieged the headquarters of INEC to protest alleged cases of Continued on page 10

Ahead of Gov Election, Buhari Meets Security Chiefs... Page 8

MOUNTING PRESSURE...

L-R: National Publicity Secretary, Peoples Democratic Party, Mr. Kola Ologbondiyan; National Chairman, Prince Uche Secondus; and National Commissioner, Legal Services, Independent National Electoral Commission, Mrs. May Agbamuche-Mbu, during PDP’s protest over alleged violations of the electoral law and guidelines in presidential election, in Abuja… yesterday

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WEDNESDAY, MARCH ;˜ ͺ͸͹΁ ˾ T H I S D AY

PAGE EIGHT

Ahead of Gov Election, Buhari Meets Security Chiefs Promises to enhance security of poll Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday met with service chiefs and the Inspector-General of Police, Mr. Mohammad Adamu, in Abuja and reviewed security challenges at the February 23 presidential election and resolved to enhance security situation at the March 9 governorship election.

At the National Security Council meeting held in the State House and presided over by the president, the Chief of Defence Staff, General Gabriel Olonisakin; Chief of Army Staff, Lt. Gen. Tukur Buratai; Chief of Naval Staff, Rear Admiral Ibok-Ete Ekwe Ibas; Chief of Air Staff, Air Marshall Abubakar Sadique; and Adamu were in

attendance.

Briefing journalists at the end of the meeting, the IGP who congratulated Nigerians on what he described as the peaceful conduct of the presidential and National Assembly elections last Saturday, said machinery had been put in place to enhance security measures provided last Saturday.

The IGP reiterated his earlier threat ahead of the presidential election that thugs, ballot box snatchers and touts would be severely dealt with during the governorship election and hence, advised those contemplating such criminal acts to have a rethink.

He said: "We are all aware of the fact that we just concluded the presidential and National Assembly elections and we

want to congratulate Nigerians for the peaceful conduct of the elections and we are prepared now for the governorship and the Houses of Assembly elections in the country.

"We'll like every Nigerian to come out and cast his or her vote.

The security arrangement we provided during the presidential elections is being enhanced so as to provide enabling environment for everybody to come out and cast his or her vote for their preferred candidates.

"We will again advise those that will want to disrupt the process to rethink because during the presidential election, we had some few challenges here and there, those challenges, we'll not allow those challenges to repeat themselves. We are taking more

security measures to address those pockets of challenges we noticed.

"So, thuggery again, is not allowed. Ballot snatching is not allowed. Disruption of the election process is not allowed.

We, the security personnel have resolved to deal ruthlessly with anybody that attempts to disrupt the process of this election. For that reason, we expect that in every state, the conduct of the election should be respected. We expect that electoral materials must not be tampered with. We expect that the INEC officials would do their work without fear or favour and without being allowed to compromise.

"The same thing, the security personnel are to perform their duties without allowing

themselves to be compromised.

So, we have heightened the security arrangement to make sure that the election goes without any hitch."

Adamu, who also disclosed that a number of thugs and ballot box snatchers were arrested during the presidential election, added that the Security Council had noted some states such as Bayelsa, which he said were prone to violence and consequently taken adequate steps to deploy more security personnel to such states.

He also disclosed that the intelligence capacity deployed to such flashpoint states had been increased with a view to identifying trouble makers before executing their plots, adding that security would be provided for

ONE WEEK AFTER, INEC FAILS TO EXPLAIN DISCREPANCIES IN PRESIDENTIAL POLL FIGURES simultaneous accreditation and

voting, which it believed, would save time and also discourage discrepancies, but this was not to be, considering what was witnessed during the exercise.

While declaring Buhari as the winner, saying he polled a total of 15,191,847 votes to defeat the Peoples Democratic Party’s (PDP) Alhaji Atiku Abubakar, who scored 11,262,978 votes, Yakubu said 29,364,209 voters were accredited, while the total number of valid votes cast were 27,324,583 with total rejected votes of 1,289,607, putting total votes cast at 28,614,190.

This means that a total of 1.6 million people were missing in the voter register, considering the fact that the number of registered voters was over 84 million, while the number of collated voters, according to the INEC chairman, was over 82 million.

A couple of presidential candidates’ agents, particularly Chief Osita Chidoka of the PDP, made a heavy weather of these discrepancies. But Yakubu

subdued the agitations with a promise to issue a clarification before the close of the collation exercise. That did not happen.

For days THISDAY pressed senior INEC officials, including the Chief Press Secretary to the chairman, Mr. Rotimi Oyekanmi; Director of Voter Education and Publicity, Mr. Oluwole Osaze-Uzi; and National Commissioner and Chairman Voter Education and Publicity, Mr. Festus Okoye, to clarify the discrepancies, including the need for the commission to publish the total accreditation captured by the SCR, but met a brick wall.

Okoye told THISDAY yesterday that he would need to consult the Information and Communication Technology (ICT) department of the commission before he could respond to its enquiries, promising to respond later in the day.

He did not.

Worried by the discrepancies, Chidoka, who was at the national collation centre had disclosed that the main

opposition party did not accept the result as representing the valid votes of Nigerians.

He stated: “We have made three issues: first, after all the investment in technology, we required INEC, after spending N27 billion in this year’s budget alone on technology, we had expected that today, INEC would have, for the purpose of transparency not just for law, have projected to us the result of what the card reader that they used displayed about the people that went through the card reader verification. That singular act put a dent in the image of the election.

“The second one is the issues we raised about the number of registered voters vis-à-vis what the chairman now calls collated voters, meaning that 1.6 million people are missing in the voter register. We think that issue is substantial enough to require a resolution.

“We also believe that the difference between the accredited voters and the votes cast, which came to about 750,000

Nigerians who will vote during the polls.

On those arrested during the presidential poll, the IGP said the suspects were currently being investigated by a team of police investigators headed by the Commissioner of Police in charge of legal matters, adding that at the conclusion of the investigation, the police will collaborate with the electoral commission to prosecute them.

"Investigation is ongoing.

There is an investigative team that has been setup headed by the Commissioner of Police in charge of legal (affairs). They are compiling the case files. They are investigating them. At the end of the investigation, the police in liaison with INEC will prosecute them," he added.

votes requires an issue to be looked into.

“Finally, we believed that the cancellations that took place in the election impacting 2.7 million voters required to be looked into seriously.

“So, in our view, this election required to be looked at again and possibly we would have had rerun. More importantly, we think that INEC should have looked consciously to the use of the card reader. The absence of card reader is a major violation in the elections; it renders that election null and void. That’s what the chairman promised us.”

But despite the protest by the PDP, Yakubu said the commission would deliberate on it before taking a decision.

However, after about three hours of deliberation, the INEC chairman insisted that the difference in the valid votes and cancellation was insignificant to impact on the general outcome of the election.

He stressed that all the observations raised by the

opposition were noted and would be needed for future elections in the country.

Yakubu stated: “In relations to the issues raised, there are specifically three of them that the commission wishes to make some preliminary statements on.

We said preliminary statement because during collation we haven’t had all the time in the world to look at these issues in depth.

“The first one is that the figures of accredited voters in relation to the votes cast were not adding up in one or two instances. We have noticed that and our preliminary investigations and analysis revealed there are a number of figures that were carried from the field and were adding up and the states were also adding up from 176,000 locations nationwide at polling units and voting points.

“From there, the figures were adding up at the ward level, which we have 8,809 nationwide. From there to the local government of which we

have 774, and then the state declaration or collation centre and the FCT making a total of 37, before coming up to Abuja.

“From what we have seen, the disparity cumulatively is actually less than two per cent...

And therefore the information on the smart card reader is slightly to be higher than the actual ballot, meaning the vote cast but this is only by way of preliminary investigation.

“Yes, we believed that there have been cancellations, however, in the case of presidential election the cancellations did not affect the conclusion of the process.

“Sometimes discrepancies of this nature are likely to happen. They happen in all the offices where elections were conducted, but on the basis of the observations that you have made, we looked at this figure very carefully; they don’t affect the total number of thousands who voted in the election; they are well below the number of

declined from $665.4 million in January 2015 to $160.4 million as at October 2018, resulting in a cumulative fall of 75.9 per cent and an implied savings of over $21 billion on food imports alone over that period.

Emefiele said: “A lot of progress has been made, but at the same time more needs to be done in order to ensure that we build an inclusive economy that supports domestic production of goods and services, while offering job opportunities to teeming Nigerians.

“This is the only option that we have, if we are to insulate our economy from volatility in the crude oil market and in the global financial markets.

“In order to achieve this goal, the CBN together with other critical stakeholders recently identified key commodities and products such as textiles and palm oil that have the ability to support the creation of hundreds of thousands of jobs in our economy.”

He said: “As you are aware, in the 1970’s and early 1980’s, Nigeria was home to Africa’s largest textile industry, with over 180 textile mills in operations, which employed close to over 450,000 people. By today, if we had nurtured and encouraged the textile industry, that sector will be employing millions.

“The textile industry at that time, was the largest employer of labour in Nigeria after the public sector, contributing over 25 per cent of the workforce in the manufacturing sector.

This industry was supported by the production of cotton by

600,000 local farmers across 30 of Nigeria’s 36 states. This sector supported the clothing needs of the Nigerian populace, as our markets were filled with locally produced textiles from companies such as United Textiles in Kaduna, Supertex Limited, Afprint, International Textile Industry (I.T.I), Texlon, Aba Textiles, Asaba Textile Mills Ltd, Enpee and Aswani Mills amongst several others.”

Continuing, he said it was no secret that the past 20 years had been “very difficult” for many textile firms, which had faced rising operating cost and weak sales due to high energy cost, smuggling of textile goods, and poor access to finance.

He said many of the textile industry employers have had to lay off employees while most of the factories mentioned have all stopped operations, leaving only 25 textile factories in operation presently- and operating below 20 per cent of their production capacities with total workforce of less than 20,000 people.

Emefiele said: “In addition, the cotton growing sector has gone dead, thereby depriving thousands of small holder farmers the opportunity to earn a living. Furthermore, a large proportion of our clothing materials are imported from China and countries in Europe.

“At this stage, we intervened to redirect our focus to the important role the textile industry played in our country.

They did more than produce cottons and textiles; they helped in sustaining the vitality of the neighborhoods in which they

operated.

With the death of these industries, came a rise in unemployment, insecurity and other negative social vices.”

Also, reacting to the recent rumour on social media that he had been relieved of his position as CBN governor, Emefiele said: “I am confused and concerned about some stories going round.

At least you can see me: I am doing my work and my tenure expires in June and at least, let’s continue.”

Continued on page 10

CBN BANS SALE OF FOREX TO IMPORTERS OF TEXTILES material access to foreign currency in the Nigerian foreign exchange market.

He said going forward, the apex bank would adopt a range of other strategies that will make it difficult for recalcitrant smugglers to operate banking business in Nigeria, adding that details of the proposed strategies would be unfolded in due course.

“Effective immediately, the CBN hereby places the access to FX for all forms of textile materials on the FX restriction list,” Emefiele announced.

However, he noted that the apex bank would initially support the importation of cotton lint for use in textile factories, with a caveat that such importers will begin to source all their cotton needs locally beginning from 2020.

Emefiele’s declaration for the textile industry was highly commended by stakeholders, particularly the Cotton, Textile and Garment (CTG) association, which predict better days following the CBN’s intervention programme.

The apex bank governor said the country currently spends over $4 billion annually on imported textiles and readymade clothing.

He said the CBN would craft adequate measures to deal with the menace of smuggling, which had often threatened efforts towards self-sufficiency.

According to him, CBN will make life difficult for smugglers.

He said: “We will deal with smuggling this time. We know what we will do to make it

difficult for them to import textile. We will try economic solution to smuggling.”

Mulls Single-digit Funding Intervention for Sector Further reeling out an array of CBN initiatives targeted at restoring the lost glory of the textile industry, Emefiele disclosed that there would be financial intervention to textile manufacturers with the provision of funds at single-digit rate.

The textile firms, he added, will also refit, retool and upgrade their factories to enable them produce high quality textile materials for the local and export market.

He said as part of its Anchor Borrowers Programme (ABP), the apex bank would also support local growers of cotton to enable them to meet the needs of the textile industries in the country.

Emefiele also said that the CBN would support efforts to source high-yield cotton seedlings “to ensure the yields from our cotton farmers meet global benchmarks.”

He further pledged that as regards the provision of stable electricity, the CBN would support the creation of textile production centres in certain designated areas in the country where access to electricity shall be guaranteed.

He expressed the confidence that these measures would discourage smuggling, resuscitate the critical industry, and support stakeholders’ efforts at creating jobs for Nigerians.

The CBN governor said with a projected population of over 180

million, the needs of Nigeria’s domestic market are huge and varied, with immense prospects, not only for job creation, but also for growth of the domestic textile industries.

He said: “One quick example that highlights the potential of this local market includes the need to support provision of uniforms and clothing apparels for school students, military and paramilitary officers as well as workers in the industrial sector.

“In addition, when we consider the amount spent on outfits for religious and social events such as weddings, naming and funeral ceremonies on a weekly basis, the potential market size is well over $10 billion annually.”

He said the Nigerian economy has made considerable progress resulting from a series of steps embarked upon by the CBN. These, according to him, include a tighter monetary policy regime beginning in 2016; the establishment of the Investors and Exporters Window in April 2017; restriction of access to forex for 41 items that could be produced in Nigeria as well as the deployment of its agricultural intervention programmes to support improved cultivation of particular agricultural items namely rice, tomatoes and fish.

He noted that following a successful general election, “our foreign investor- friends have began to show interest in Nigeria again, given their confidence of a stable business environment.”

He added that noticeable declines have been recorded in monthly food import bill, which

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NEWS

UK: Nigeriaâ&#x20AC;&#x2122;s Anti-corruption Fights Frustrated by EFCC, Others Urges agencies to cooperate NNPC recovers N771m from dubious petroleum marketers Chineme Okafor in Abuja Nigeriaâ&#x20AC;&#x2122;s attempts at stemming the tides of official corruption for years now have been hampered by the inability of the various government agencies set up for this purpose, to work collectively and in unison, the British Council, which is an agency of the government of the United Kingdom (UK), has said.

According to the British Council, anti-corruption agencies of Nigeria such as the Economic and Financial Crimes Commission (EFCC); Code of Conduct Bureau (CCB); Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigeria Financial Intelligence Unit (NFIU) which recently got independence from the EFCC, have continued to work in silos, thus frustrating the fight against corruption.

The Programme Manager of the Rule of Law and Anticorruption (RoLAC) Programme of the British Council, Mr. Uche Emmanuel, stated this at a workshop organised for anti-corruption agencies and law enforcement officers by

the Nigeria Extractive Industries Transparency Initiative (NEITI); European Union (EU) and the British Council, yesterday in Abuja.

The disclosure equally came at a time the Nigerian National Petroleum Corporation (NNPC), stated that it had recovered assets worth over N771 million from some oil marketers who had under-paid it for petroleum products supplied to them from Petroleum Products Marketing Company (PPMC) Kaduna Depot.

Speaking at the workshop which was initiated to educate anti-corruption and law enforcement agencies on the need to push further NEITIâ&#x20AC;&#x2122;s mandate in Nigeriaâ&#x20AC;&#x2122;s extractive sectors, Emmanuel noted that most often the anti-corruption agencies take up isolated and high profile corruption cases without recourse to each other for cooperation. â&#x20AC;&#x153;The challenge is that most of us continue to work in silos.

Most of the agencies that have been instituted to fight corruption, not just work in silos but many of them are working at what I call the micro level.

Acting EFCC Chairman, Ibrahim Magu â&#x20AC;&#x153;They are so fixated on their primary mandate, and I said this to them at the EFCC in-house retreat they had last week, that they are so fixated on their primary mandate and forget the big picture,â&#x20AC;? said Emmanuel in his assessment of the countryâ&#x20AC;&#x2122;s anti-corruption fight.

He added: â&#x20AC;&#x153;Several times we could get so fixated pursuing one very high level corruption case, pursuing one highly exposed person forever and get all the media attention, but you are set up to impact a country of 200 million people, and so one

isolated mega case will not take us to where we are going, and you cannot do it in a silo. Nobody is an island; you definitely need to work with people.â&#x20AC;?

Also speaking at the meeting, the Executive Secretary of the NEITI, Mr. Waziri Adio, stated that NEITIâ&#x20AC;&#x2122;s work of identifying revenue leakages in the extractive sector have yielded minimal results as regards stemming the tides because these law enforcement and anti-corruption agencies do not take interest in its periodic reports.

Adio explained that the agencies could for instance take up NEITIâ&#x20AC;&#x2122;s recent report on monies Nigeria has not been able to gain from its failure to review a 1993 production sharing contract (PSC) regulation despite existing clauses that guarantee such review.

Adio said: â&#x20AC;&#x153;We need to come to the table with knowledge.

Our job in NEITI is to produce reports and we have done that and put in the public domain.

Where our work stops is where the works of others start, but does that happen all the time?

Not necessarily.

â&#x20AC;&#x153;We would love a situation where we can go beyond just the reports, stimulate the debate, implement reforms, investigate and prosecute. We need to put a price on bad behaviour. We need to collaborate to ensure these bad practices stop. And we can look at it from an outputinput framework. Our work as important as it is, if you donâ&#x20AC;&#x2122;t use it, it is then useless.â&#x20AC;?

Meanwhile, the NNPC said in a statement sent by its Group General Manager, Public Affairs, Mr. Ndu Ughamadu, that the recovered assets from dubious oil marketers, was done with supports from the Department of State Security Services (DSS); EFCC; and ICPC. It said its anti-corruption committee, led by Mr. Mike Balami, brought in forensic experts to uncover the shady deals by some of the marketers affected.

The statement quoted Balami to have stated that some of the assets recovered included filling stations; water factories and six sports utility vehicles.

Balami added that the forensic investigation would be extended

ONE WEEK AFTER, INEC FAILS TO EXPLAIN DISCREPANCIES IN PRESIDENTIAL POLL FIGURES PVCs collected.â&#x20AC;?

Insists Use of Smart Card Reader Mandatory for Gov Contest Meanwhile, INEC has insisted that the use of SCR in the Saturdayâ&#x20AC;&#x2122;s elections is mandatory.

Okoye, in a statement yesterday, said the clarification became imperative because since the conduct of the presidential election, there has been an allegation from certain quarters that the INEC was selective in its use of the electronic device.

Okoye noted that the allegation has led to speculations that INEC might be forced to jettison its

use in the March 9, 2019 governorship, State Houses of Assembly and Federal Capital Area Council elections.

Okoye stated: â&#x20AC;&#x153;INEC hereby states categorically that the allegations are absolutely false and the speculations are without any basis whatsoever. â&#x20AC;&#x153;The use of the Smart Card Readers is not only mandatory

but its deliberate non-use attracts the sanction of possible prosecution of erring officials in accordance with the INEC Regulations and Guidelines for the conduct of elections. This is in addition to the voiding of any result emanating from such units or areas, as was done in the Presidential and National Assembly elections of February

to other petroleum products depots across the country.

According to him, it was established that the affected marketers lifted petroleum products from the PPMC Kaduna depot without evidence of payment and when confronted with the evidence they admitted to the offence and failed to pay their liabilities.

He equally explained that NNPC Group Managing Director, Dr. Maikanti Baru, was passionate about stopping all the leakages in the corporation, stressing that the forfeited assets would be handed over to NNPC Corporate Asset Boarding and Disposal Committee (CABDC) for immediate disposal.

Balami noted that investigations into lifting of petroleum products without evidence of payment would continue. He thus urged all relevant stakeholders to support the anti-corruption committee to recover such monies outside NNPCâ&#x20AC;&#x2122;s system.

He claimed this was the first time the NNPC would be taking over assets forfeited by marketers who defaulted in their terms of engagement.

23, 2019.â&#x20AC;?

The commission added that to clear any doubt or ambiguity, the deployment and mandatory use of smart card readers in next Saturday's elections would not only be uniform but also universal and the provisions of the Regulations and Guidelines would be strictly and vigorously enforced, meaning that all

stakeholders are to note and be guided accordingly.

He added: â&#x20AC;&#x153;The general public and all officials engaged for the elections are hereby informed that the Commission is not reconsidering the use of these Smart Card Readers, which has greatly improved the credibility of our elections and instilled a high level of public trust in them.â&#x20AC;?

The PDP also lamented the unconstitutional deployment of the armed forces, especially soldiers and police for the illegitimate purposes to harassing, intimidating, suppressing of leaders of the party and suppression of voters in PDP strongholds across the country.

Responding on behalf of INEC Chairman, Yakubu, INEC National Commissioner, Legal, Mrs. May AgbamucheMbu, thanked the protesters for conducting themselves in a civilised way to approach the commission.

According to her, â&#x20AC;&#x153;I want to say that INEC, we are here to do a professional job, but don't forget that INEC cannot do the work alone. But first and foremost, INEC has received your complaint. We are going to look at it critically, where we need to change, we will change. â&#x20AC;&#x153;This country belongs to all of us and we must protect it with all our might. I believe that on Saturday the elections will go on very well, but our mantra in this election is that we want peace in our country. â&#x20AC;&#x153;I supervised Rivers and Bayelsa States; so, I know what it means to invest in that area, and the people of Rivers and Akwa-Ibom know what they want.â&#x20AC;?

In a statement issued yesterday by the Director of Strategic Communications, APC Presidential Campaign Council, Mr. Festus Keyamo SAN, the party said it was an unauthorised group that wrote a letter to international bodies and not Buhari Campaign Organisation.

He said: "Our attention has been drawn to some news item and posts on social media reporting that we wrote a letter to some international bodies to prevail on Alhaji Atiku Abubakar not to proceed to court to challenge the result of the 2019 presidential election.

"Our investigation reveals that a letter to that effect was purportedly written by a certain â&#x20AC;&#x2DC;Buhari Campaign Organisationâ&#x20AC;&#x2122;.

This is the second time we will be informing the public that the said â&#x20AC;&#x2DC;Buhari Campaign Organisationâ&#x20AC;&#x2122; does not act at the behest of the APC Presidential Campaign Council nor does it represent the Muhammadu Buhari Campaign Organisation in any way.â&#x20AC;?

Keyamo said the official position of the campaign council is that Atiku has a constitutional right to seek redress in court, adding it will not do anything to curtail that right.

"In fact, it is the resort to court that is the only democratic way to ventilate his perceived grievance and any attempt to restrict or discourage the exercise of such right would be an invitation to anarchy.

"In addition, we are very anxious to meet Alhaji Atiku Abubakar in court in order to show the world in a conclusive manner the free and fair nature of the comprehensive defeat of Atiku at the polls,â&#x20AC;? Keyamo added.

ATIKU AT PETITION TRIBUNAL, SEEKS ORDER TO INSPECT ELECTION MATERIALS infractions and deliberate violations of the electoral law and guidelines during the presidential election.

The Coalition of United Political Parties (CUPP) also raised the alarm over an alleged attempt

by Buhari and the Economic and Financial Crimes Commission (EFCC) to use all means to frustrate the efforts of Atiku to retrieve what it described as his stolen mandate at the election tribunal.

But the APC Presidential Campaign Council denied lobbying the international community to persuade Atiku not to challenge result of the election, saying it is anxious to meet the PDP candidate in court.

INEC had declared Buhari and his party, APC, winner of the poll, having scored 15,191,847 as against Atikuâ&#x20AC;&#x2122;s 11,262,978.

Dissatisfied with the conduct and outcome of the election, the former vice president and his party vowed to approach the election petition tribunal to ventilate their grievances as well as reclaim their alleged stolen mandate.

Consequently, the plaintiffs yesterday filed an ex-parte motion at the Court of Appeal in Abuja, venue of the Presidential Election Petition Tribunal.

In the motion, Atiku and the PDP are praying for an order compelling INEC to allow them Inspect the voterâ&#x20AC;&#x2122; register and other vital documents used in the conduct of the election.

Respondents in the motion ex-parte dated March 4 and filed March 5 include INEC, Buhari and the APC. The motion filed by a Senior Advocate of Nigeria (SAN),

Chief Chris Uche, is praying the tribunal to compel the electoral body to allow their agents to scan and make photocopies of vital documents used in the last presidential election for the purpose of proving their case at the tribunal.

The application, according to our findings, is supported with a 12-paragraph affidavit deposed to by one Col. Austin Akobundu (rtd.), Director of Contact and Mobilisation for the Atiku Abubakar Presidential Campaign Council.

Both Atiku and the PDP are claiming that they won the presidential election but were short changed by INEC during the collation and announcement of the results.

However, no date has been fixed for hearing of the motion.

When THISDAY visited the Court of Appeal, Abuja Division serving as the presidential election petition tribunal, a functional registry and Secretariat have been opened for the purpose of receiving petitions from aggrieved presidential candidates against the last presidential election.

In another development, the CUPP spokesperson, Mr. Ikenga Ugochinyere, said in a statement issued yesterday in Abuja that Buhari, through the EFCC arrested the Deputy DirectorGeneral of PDP Presidential Campaign Organisation, Kabiru Tanimu Turaki, describing Turaki's arrest as an attempt to derail the completion process of filing the case.

"Turaki only went to the EFCC office in connection with the signing of bail papers for other Atiku associates who were in custody. The mode of his arrest

and detention clearly shows it was upon a spontaneous realisation that he was a coordinating factor in the expected legal challenge of the rigged presidential election of 23rd February," CUPP said.

The opposition parties also alleged that a source within the EFCC informed them that Turaki is not being questioned

by EFCC officials but by a team from the Presidential Villa who are only questioning him about the details of the petition of the PDP. "They are questioning him on the evidence the PDP has in its possession and the location of the documents/legal secretariat and list of witnesses. This is obviously with a view to storming the location, carting away relevant papers and derailing the filing of the papers in the tribunal which must be completed within 21 days from the date of announcement of the election results," CUPP alleged.

PDP Marches on INEC Headquarters, Protests Electoral Infractions Meanwhile, the PDP yesterday besieged the headquarters of INEC to protest alleged cases of infractions and deliberate violation of the electoral law and guidelines during the presidential election.

The National Chairman of the party, Prince Uche Secondus, who led members of the National Working Committee (NWC) and other leaders of the party during the protest, also submitted a petition to the electoral body.

The petition, addressed to INEC Chairman, Prof. Mahmood

Yakubu, and jointly signed by Secondus and the National Secretary of the party, Sen. Ibrahim Umaru Tsauri, was dated March 4, 2019, with reference number, PDP/DOM/ INEC/19-004.

The party in the letter placed on records the alleged infractions and violations of the electoral law and the regulations/guidelines regulating the 2019 general election, which it said have very negative implications on the credibility, transparency and integrity of the entire electoral processes particularly the just concluded presidential and National Assembly elections.

The protest according to Secondus, became imperative just few days to the gubernatorial and state House of Assembly elections billed for Saturday, March 9, 2019.

The main opposition party decried the non-usage or selective enforcement of the Smart Card Reader (SCR) machines across the country.

The party stated: â&#x20AC;&#x153;We observed with regrets that the usage of the SCR machines were enforced strategically in the South-south, South-east and the North-central zones of the country, which are essentially PDP strongholds. â&#x20AC;&#x153;This is radically different from what transpired in the North-west, North-east and the South-west, which were estimated as the APC strongholds. This is quite contrary to the provisions of Paragraph 10(a) & (b) of the Regulations and Guidelines governing the 2019 General Elections and all the assurances you, Prof. Yakub Mahmood, frequently gave up to the last hours before the elections.â&#x20AC;?

We Are Anxious to Meet Atiku in Court, Says APC In a related development, the APC Presidential Campaign Council has denied lobbying the international community to persuade Atiku not to challenge result of the election in the court.

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

Stop Attacking Buhari, Alake Advises Obasanjo My criticisms not personal, says former president

Hamid Ayodeji The Alake of Egbaland, Oba Aremu Gbadebo, yesterday advised former President Olusegun Obasanjo to desist from his ceaseless attacks on President Muhammadu Buhari’s administration.

This is coming as the former president has said that his criticism of President Buhari’s administration is not personal or borne out of hatred.

The monarch gave the advice in his goodwill message to mark the 82nd birthday anniversary of Obasanjo at the Olusegun Obasanjo Presidential Library in Abeokuta.

Gbadebo, who noted that Obasanjo had been ‘‘a warrior’’ all his life, urged him to rest, fight less and rather take a position of a consultant at his new age. ‘‘At 82 years, I think you should keep your sword more rather than use it always,’’ he said.

Gbadebo, who served as a military officer during the military administration of Buhari between 1984 and 1985, said he had always

told Obasanjo to leave his boss (Buhari) alone.

Obasanjo who responded to goodwill messages from friends, family members and well wishers at the programme, responded by saying that the issues between him and Buhari were not personal.

The former president explained that he was only criticising the programmes and policy of the present administration to ensure that things were done according to democratic norms.

He noted that while anybody could be in the President’s position, the purpose of criticism was to deepen democracy and ensure economic growth and development of the nation.

According to the elder statesman, governance is not a family affair, adding that democracy involves criticisms and consideration of all sides to an issue. ‘‘There is nothing personal between President Buhari and I. In a democracy, you can criticise a policy, a government or a leader because democracy is not a family affair.

‘‘If it is my brother that is occupying the leadership role and he is not doing what I believe he should do, he must be criticised and that is what democracy is all about. ‘‘I have been in that position longer than any Nigerian will ever be there. ‘‘So, if I say anybody in government in Nigeria is not doing well, let that government prove that it is doing well,’’ he said.

The former president further called on African leaders to focus more on democracy, good governance and the growth of the economy for the good of

the people.

According to him, those who keep quiet in an environment where there is not development are accomplices in the crime.

Earlier, former Minister of Home Affairs of the Republic of South Africa, Mr. Mangosuthu Buthelezi, delivered a lecture entitled: ‘‘Colonialism, Apartheid, Freedom and South Africa Rising.’’

Buthelezi, in the lecture, identified corruption as the biggest challenge facing the African continent.

He expressed concern that South Africa currently ranked so poorly on the Corruption Perceptions

Index of the Transparency International.

The former South-African Minister attributed the development to ‘‘the mistakes we have made, allowing resources to be consumed by greed and abuse.’’

Buthelezi, who noted that only six countries in the African Union had ranked above 50 on the corruption index, stressed that ‘‘corruption is pervasive throughout the region. ‘‘This is difficult to hear and perhaps, it stirs our anger. We must, however, accept the facts and fix them.

‘‘When we consider countries like Seychelles and Botswana who have become paragons of excellence, we need to ask what they did to achieve this. ‘‘We know that Botswana, for instance, reinforced its legal and institutional frameworks and made resources available specifically to fight corruption. ‘‘There are measures we can take and we must take them.

“If we can overcome these challenges in Africa, we will open the possibilities for growth, development and social justice that were the dreams of my generation,’’ he said.

Falana: Atiku will Face Insurmountable Legal Obstacles at Tribunal Sunday Okobi Human rights lawyer and Senior Advocate of Nigeria (SAN), Mr. Femi Falana , yesterday said the presidential candidate of the Peoples Democratic Party (PDP) in the February 23 election, Alhaji Atiku Abubakar, has “insurmountable legal obstacles” to face at the Presidential Election Petitions Tribunal.

Falana, however, said in a statement that the former vice president should not be blackmailed not to take the legal step, adding that the calls prevailing on him not to approach the tribunal were uncalled for.

He recalled that President Muhammadu Buhari who was declared the winner of the February 23 election had challenged his losses in court in the successive presidential elections of 2003, 2007 and 2011.

He also noted that many All Progressives Congress (APC) members who lost the justconcluded National Assembly elections had announced plans to challenge the return of their opponents by the Independent National Electoral Commission (INEC).

He, however, said the failure of the successive PDP and APC-led federal government to reform the electoral process had created insurmountable legal obstacles for election petitioners He said, “the campaign that Alhaji Atiku Abubakar should not seek redress is totally uncalled for.

“Aggrieved by the general election of 2003, 2007 and 2011 conducted by INEC, candidate Muhammadu Buhari sought redress in court.

“The Chairman of the APC, Adams Oshiomhole and other APC leaders have had cause to claim their mandate through the court.

“Even some APC members who lost the just-concluded National Assembly elections have announced plans to challenge the return of their opponents by INEC. “Therefore, Alhaji Atiku Abubakar should not be blackmailed or begged by any group of people not to challenge the presidential election held in the country on February 23, 2019.

“Regrettably, however, the failure of the PDP and APC-led federal government to reform the electoral process has created insurmountable legal obstacles for election petitioners.”

Falana said “the frustration of election petitioners has been compounded by several judicial authorities,” with some decisions holding that “an election cannot be questioned on grounds of corrupt practices”.

He said judicial authorities had upheld many elections despite the fact that the polls were marred by malfeasance.

He said, “for instance, a petitioner is required to prove that there is substantial non-compliance and that the non-compliance has substantially affected the results of the election.

“In Yussuf v Obasanjo, it was held that an election cannot be questioned on grounds of corrupt practices.

“In Falae v Obasanjo it was held that it has to be proved that financial inducement was authorised by the winner of an election.

“In Buhari v Obasanjo it was held that the onus of proving electoral malpractice rests on the petitioner.

“Several fraudulent elections have been upheld under the doctrine of substantial compliance.

“In several cases, winners of fraudulent elections that were annulled were allowed to take part in rerun elections ordered by the courts.”

A NEW MEGA DEAL...

L-R: Group Deputy Managing Director, Access Bank Plc; Roosevelt Ogbonna; Group Managing Director/CEO, Herbert Wigwe; Acting Chairman, Ajoritsedere Josephine Awosika; and Company Secretary, Sunday Ekwochi, during the court-ordered meeting of Access Bank Plc in Lagos...yesterday SUNDAY ADIGUN

APC will Prove PDP Wrong on Performance, Says Amaechi Dismisses PDP petition to UN Onyebuchi Ezigbo in Abuja With a second term victory in its kitty, the All Progressives Congress (APC) has said its administration will now focus more on reshaping the economy and fulfilling most of the promises the party made to Nigerians.

The party also dismissed the aspersions allegedly cast on the victory of President Muhammadu Buhari by Peoples Democratic Party (PDP), describing the petition to the United Nations as misplaced and of no effect.

APC said as far as Nigeria is concerned, the only authority

that binds every citizen is the constitution.

The Director General of the APC Campaign Council, Mr. Rotimi Amaechi, who addressed a press conference to thank Nigerians for their support for the party, said President Buhari has assured Nigerians in his acceptance speech that he would work to alleviate their sufferings under the next level agenda.

According to Amaechi, “The president has stated that not only will he run an inclusive government but that he has also realised that Nigerians have suffered enough and that it is time

to rescue Nigeria.”

When asked if APC can now accept responsibility for the state of things in the country, Amaechi said: “I think we should leave the past, whether PDP did well or not, we now have another four years to prove that we are better than them. We have to prove them wrong by doing better.

“The cardinal point that the president has continuously focused on is the fight against corruption and the need not just to rehabilitate the economy but also to make it grow because of the challenge we faced during PDP reign in 2015.”

The Minister of Transportation

also said the economy would not grow “if we don’t focus on security and ensuring that lives and property are secure all over the country. We are basically saying that none of those cardinal objectives will be forgotten.

Good enough, the president has said he would run an inclusive government.”

However, Amaechi said the fact that APC would take responsibility for policies aimed at reshaping the economy of the country does not mean that Nigerians will no longer refer to what happened in the past.

I will Retire to Daura in 2023, Says Buhari President Muhammadu Buhari has said that he would retire to Daura after he completes his second term in office in 2023.

Daura, which is in Katsina State, is the president’s hometown.

He spoke in Abuja while meeting with traditional rulers at the Presidential Villa, welcoming them to his “Second and final term, at the end of which I will, God willing, go to Daura and settle down.”

He asked traditional rulers in the country to support the anti-corruption war of his administration, using their vast knowledge and links to families in their communities.

He noted that as monarchs, they knew the families who harboured criminals and those who also had individuals with no tainted records.

The rulers came to visit him under the aegis of the National Council of Traditional Rulers.

The Council was led to the State House by the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III. “You know all the families who harbour criminals and you know those who produce respectable individuals.

“You know the weaknesses of our society. We need your support to consolidate our achievements”, a statement by his Senior Special Assistant on Media and Publicity, Mr. Garba

Shehu, quoted Buhari as telling the royal fathers.

The president seized the opportunity to speak on the efforts by the federal government to address national security challenges and stabilise the polity.

He stated: “What we need now is your support.

“No government can serve creditably without your support.

We will always count on your support.”

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Buhari, Jonathan Greet Obasanjo at 82 President says he still holds him in highest esteem Ejiofor Alike President Muhammadu Buhari and former President Goodluck Jonathan yesterday showered praises on former President Olusegun Obasanjo as he turned 82 years old Buhari on his part, said Obasanjo is “a passionate and great patriot who deserves accolades for his immeasurable contributions to our democracy and national unity.”

The president said he would continue to accord Obasanjo respect, in spite of their political differences.

In a statement by his Senior Special Assistant on Media and Publicity, Mr. Garba Shehu, the President said, “regardless of our political differences with Obasanjo, I still hold him in the highest esteem because his contributions to the development of the country overshadow those differences.”

Recalling their days together in the country’s Armed Forces, Buhari noted, “Chief Obasanjo gave a good account of himself and inspired his juniors with his wit and other leadership

skills.”

On Obasanjo’s indelible marks, the President said, “Nigeria’s successful transition to democratic rule in October 1979 was one of Obasanjo’s remarkable contributions to national development.”

“As he celebrates his 82nd Birthday Anniversary, I wish Chief Obasanjo more good health, knowledge and wisdom in the service of Nigeria and humanity.”

On his part, Jonathan felicitated with Obasanjo, describing him as a courageous leader who is committed to Nigeria’s unity and progress.

In a goodwill message which he personally signed, the former president also noted that Obasanjo belongs to the class of Africa’s great leaders.

It read: “I rejoice with you today on the occasion of your 82nd birthday. Indeed, you have been a great asset to our nation and your service to humanity has been exemplary.

“You are a patriotic and courageous leader who has remained steadfast in nation-building. Your legacies as a former Head

Defence Lawyers Withdraw from Metuh’s Case over Alleged Threats Alex Enumah in Abuja The two senior lawyers leading the defence of a former National Publicity Secretary of the Peoples Democratic Party (PDP), Chief Olisa Metuh, in his N400 million money laundering case before the Federal High Court in Abuja, yesterday said they were withdrawing from the case.

In an application, which they filed before the court, Dr. Onyechi Ikpeazu (SAN), and Mr. Emeka Etiaba (SAN) said they had received “threats to life” and been under “immense pressure” for appearing in the case.

The two lawyers, who had been defending the ex-spokesperson for the PDP since the money laundering case was instituted in January 2016, also said they could not afford to appear in the matter day-to-day as earlier ordered by the presiding judge, Justice Okon Abang.

“The honourable court has ordered day-to-day hearing in this matter and counsel will be unable to afford the time, having regard to the diaries of their respective offices,” they stated as part of the grounds of their application.

An affidavit deposed to by Ikpeazu and filed in support of the application, added, “Emeka Etiaba (SAN) and myself have been going through immense pressure with respect to our appearance in this case and will be unable to continue to represent the first defendant.

“I have received numerous threats to my life from diverse sources through telephone calls with disguised numbers giving ultimatums and threatening to kill me based on the manner they claimed I had been mishandling the case.”

Ikpeazu stated that he was informed by Etiaba that “he had received similar threats and will thus no longer proceed with the representation of the first defendant”.

While Metuh was present in court yesterday, his two lead lawyers were absent from the proceedings in which he and his company, Destra Investment Limited, are being prosecuted by the Economic and Financial Crimes Commission (EFCC) on seven counts of money laundering.

The charges included allegations that they both fraudulently took the sum N400 million from the Office of the National Security Adviser (NSA) “when they reasonably ought to know” that the money was part of the proceeds of an alleged criminal act of the then NSA, Sambo Dasuki.

Metuh was also accused of transacting with a cash of $2 million without going through a financial institution in violation of a provision of the Money Laundering (Prohibition) Act. In the absence of his two lead counsel yesterday, Metuh got the judge’s permission to consult with the lawyer representing his company, Destra Investments Limited, Mr. Tochukwu Onwugbufor (SAN).

On returning from the consultation, Metuh pleaded with the judge to grant an adjournment to enable the lawyers to appear in court to move their application.

Both Onwugbufor and EFCC’s prosecuting counsel, Mr. Sylvanus Tahir, did not oppose the application for adjournment.

The judge adjourned the case till March 13.

of State and President of Nigeria will continue to endure; considering your achievements in the areas of unity, peace and development

in Nigeria and the rest of Africa.

“History has accorded you a place in the roll call of great leaders not just in

Nigeria but also in Africa. So I join your family and other well-wishers to celebrate with you on this day.

“May God continue to

bless you with strength and good health even as you enjoy more glorious years on earth. Happy birthday, Your Excellency.”

DOING WORK OF GOD...

L-R: Chairman, Christian Association of Nigeria (CAN), Lagos State Chapter, Apostle Alexander Bamgbola; General Overseer, Deeper Christian Life Ministry, Pastor William Kumuyi; Chairman, Pentecostal Fellowship of Nigeria (PFN), Lagos Chapter, Bishop Sola Ore; and PFN Secretary, Rev. Toyin Kehinde, at the media briefing on the forthcoming first ministers’ development and networking summit held at Deeper Christian Life Church, Gbagada, Lagos...yesterday ETOP UKUTT

Oba of Ilorin will Emerge under Abdulrazaq as Kwara Gov, Says Cleric Hammed Shittu in Ilorin An Islamic cleric based in Ilorin, Kwara State, Sheikh Abdulrahim Aduranigba, has said that, the emergence of the All Progressives Congress (APC) governorship candidate, Alhaji Abdulrahman Abdulrasaq, as the next governor of the state will pave way for the enthronement of a new royal father in the ancient town of Ilorin to be known as Oba of Ilorin.

Aduranigba in an interview with a Yoruba language newspaper, ‘Yoruba Ronu’, obtained by journalists in Ilorin and published on pages two and three under the headline:

‘Ni Ipinle Kwara,Yoruba Setan Lati Fi Ibo Gba Agbara Lowo Saraki Ati Fulani’, claimed that the 2019 general election will be a grand design by the Yoruba to wrest power from the Saraki political dynasty and the Fulani clan in Ilorin.

Aduranigba, who claimed to be Chief Imam of Yoruba in Ilorin, added that “after winning the next governorship election, we shall have an Oba of Ilorin once our own son, Abdulrahman becomes the state governor of the state.

“We will then ask for our rights. When the new governor is inaugurated, he will help us upgrade the Yoruba chiefs in

Ilorin Emirate and Kwara.

Balogun Alanamu, Olu Isin, Onikangu, Magaji Are, Baba Isale, Alapado, Olu Oke- Oyi, Ohoro of Shao, Oba Saadu and Oba of Jebba must be upgraded.”

He claimed that “the Yoruba ethnic group constitutes the largest population in Kwara State, and that his people have adopted the All Progressives Congress (APC) gubernatorial candidate in the state, Abdulrasaq, as their choice for the next Saturday governorship poll.”

The cleric noted that the 2019 general election present the Yoruba in Ilorin and Kwara State the best opportunity to free themselves from the grip

of the Fulani who have been ruling them under the Emirate system that is alien to the local culture.

He said: “We have adopted Abdulrasaq as our governorship candidate because he is a Yoruba, and we have instructed him to conduct his campaigns in Yoruba language.

“The PDP candidate is Fulani and we challenge him to conduct his campaigns in Fulani language. Twelve out of the 16 local government areas in the state belong to us (Yoruba). Therefore, we are sure of victory in the coming governorship election in the state.”

WAEC Releases WASSCE Result for Private Candidates Funmi Ogundare The West African Examinations Council (WAEC) has announced the release of the West African Senior School Certificate Examination results for private candidates, 2019 – First Series.

The Head of the Nigeria National Office of WAEC, Olu Adenipekun, who disclosed this, added that 3,102 candidates obtained credit in a minimum of five subjects, including English Language and General Mathematics.

Adenipekun in a press briefing at the WAEC National Office in Yaba, Lagos, also disclosed that of the 11,892 candidates who sat for the examination, 6,180 were male, while 5,712 were female.

“On behalf of the Registrar to Council of WAEC, my heart is full of joy, particularly,

for the successful conduct of the WASSCE for Private Candidates, 2019 – First Series.

“For the 2019 diet, 12,202 candidates registered for the examination which ended on Monday, February 4, 2019.

Thirty days after the conclusion of the examination, I am happy to announce the release of the results.

“A total of 12,202 candidates registered for the examination, out of which 11,892 candidates sat for the examination. Of the number of candidates that sat for the examination, 6,180 were male and 5,712 were female, representing 52 and 48 per cent respectively.

“A total of 11,686 candidates, representing 98.27 per cent, have their results fully processed and released, while 206 candidates, representing 1.73 per cent, have a few of their subjects still

being processed due to errors traceable to the candidates in the course of registration or writing the examination. Such errors are being corrected by the council to enable the affected candidates to get their results fully processed and released subsequently.”

Giving a breakdown of the 11,686 results released, Adenipekun said 376 results were being withheld in connection with various reported cases of examination malpractice and were being investigated.

“A total of 3,102 candidates, representing 26.08 per cent, obtained credit and above in a minimum of five subjects, including English Language and General Mathematics. The percentage of candidates in this category was 17.5 per cent.

“A total of 8,782 candidates, representing 75.15 per

cent obtained credit and above in two subjects; 7,332 candidates, representing 62.74 per cent obtained credit and above in three subjects; 5,850 candidates, representing 50.06 per cent obtained credit and above in four subjects; and 4,314 candidates, representing 36.28 per cent obtained credit and above in five subjects.

“There are 376 results, representing 3.16 per cent of the total candidature for the examination, being withheld in connection with various reported cases of examination malpractice. The cases are being investigated and reports of the investigations will be presented to the appropriate committee of the council in due course for consideration. The committee’s decisions will be communicated to the affected candidates,” Adenipekun explained.

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COMMENT

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

BUHARI: HARDER TIMES AHEAD (1)

No one should be intimidated in the name of elections, writes Anthony A. Kila

T

he continuation of President Muhammadu Buhari in power translates to the continuation of our hardship in Nigeria.

Already Buhari has indicated the direction his new government would go in the next four years. He is threatening that the next four years will be â&#x20AC;&#x153;toughâ&#x20AC;?. Out of the abundance of the heart, the Scripture says, the mouth speaks. The first â&#x20AC;&#x153;policy statementâ&#x20AC;? from Buhari after INEC adjudged him the Presidentelect is that the next four years would be â&#x20AC;&#x153;toughâ&#x20AC;?. Instead of telling us how he would create jobs to keep our restive and hungry youths at bay President Buhari is threatening that the next four years would be â&#x20AC;&#x153;toughâ&#x20AC;?. President Buhari is a â&#x20AC;&#x153;toughâ&#x20AC;? President. He can arrest anybody anywhere anytime and put the person in prison. If all these members of the opposition who are making noise are not careful they would all end up in prison in the next four years. As far as President Buhari is concerned, good governance begins and ends with using the EFCC to arrest and commit to prison his perceived thieves and enemies of his government. He does not understand that good governance means improving the worsening living condition of the ordinary Nigerian.

Sad. Isnâ&#x20AC;&#x2122;t? The Nigerian people wanted a president who will revitalize the economy and create jobs for the teeming unemployed. But now they have a president who is only keen on using the EFCC to catch perceived enemies of government and committing them to prison. That is why the people are full of regrets at the moment. They regret that despite Buhariâ&#x20AC;&#x2122;s woeful performance he is being returned to power. Just take a look around you. What do you see? Walking corpses. Melancholic faces, miseries, anguish, despondency and hopelessness. To Ben Murray- Bruce, â&#x20AC;&#x153;Buhariâ&#x20AC;&#x2122;s victory is as if the nation is in mourning mood, you can rig votes, but you canâ&#x20AC;&#x2122;t rig the publicâ&#x20AC;&#x2122;s moodâ&#x20AC;?. Even the Nigerian economy seems to be allergic to Buhariâ&#x20AC;&#x2122;s â&#x20AC;&#x153;victoryâ&#x20AC;?. For example, barely eight hours after he was declared President-elect last week the market capitalization of the Nigerian Stock Exchange lost N85 billion. Capital market experts attribute the loss to the fact that upon realizing that Buhari was returning to power some investors who thought that the opposition would win the presidential election and would embark on economic policy and reforms capable of increasing market growth hurriedly took their profits ahead of earnings season. Foreign investors loathe the prevailing administration.

Why? Because they believe, rightly or wrongly, that the administration is synonymous with economic retrogression. They believe that their investment in Nigeria under Buhari is imperilled. Therefore since Buhari became President of Nigeria many foreign investors whose multi-dollar businesses were hitherto rooted here had fled to Ghana, Senegal and other African countries.

Therefore those beating their chests in the euphoria that Buhari has been returned to power must be living in foolâ&#x20AC;&#x2122;s paradise. Nobody can give what he or she doesnâ&#x20AC;&#x2122;t have. As we have seen in the last four years, the Buhari government cannot revitalize the Nigerian economy let alone improve the worsening living condition of the ordinary Nigerian. In 2015 Nigeria had a fairly robust economy with a GDP of N600 billion (largest in Africa) and an annual growth rate of 6.4%, a single digit inflation rate and an unemployment rate of 13%. But alarmingly, since Buhari came to power in the last four years unemployment rate in Nigeria has risen up to 33.1%. More than 10 million Nigerians have lost their jobs. Buhariâ&#x20AC;&#x2122;s

NIGERIA HAS THE LARGEST NUMBER OF OUTOF-SCHOOL CHILDREN, TOTALING 13 MILLION IN THE WORLD

sloppiness and cluelessness began after his inauguration on May 29, 2015. First, it took Buhari more than six months to set up his cabinet.

Only God knows how long it would take him now to form a new cabinet. After he finally formed his cabinet in 2015, the local currency was devalued by 305 % overnight. This led to economic crisis in the country. Buhari exacerbated the resultant economic crisis by banning dollar deposits into local bank accounts, transferring governmentâ&#x20AC;&#x2122;s own deposits into idle balances held at the Central Bank, thus effectively tightening liquidity in form of loanable funds to the productive sector.

Before JP Morgan Chase pulled out from Nigeria it warned Buhari about the repercussions of his foreign exchange fixing policies. HSBC later followed suit and left Nigeria. Dunlop Nigeria Plc, the only surviving tyre manufacturing company in Nigeria laid off hundreds of staff and fled Nigeria. Erisco Foods Limited, employing well over 2,000 Nigerians was forced to shut down its operations. Before shutting down, the company had inserted several advertorials in several newspapers complaining that the strangulating forex policy of the CBN had made it impossible for its business to thrive in Nigeria. The Manufacturers Association of Nigeria (MAN) reported that the CBN forex restriction crisis has led to the closure of 272 companies. Mr. Tony Ejinkeonye, President, Abuja Chamber of Commerce and Industry reported that about 50,000 workers had lost their jobs in Abuja within a period of two months. Maritime Workers Union of Nigeria (MWUN) reported that between 2016 and2017 about 20 shipping companies had been forced to shut down their operations and retrenched about 3000 workers due to the unfavourable forex policies. Emir of Kano and former Central Bank Governor, Sanusi Lamido Sanusi cried aloud that the foreign exchange corruption in the administration was unprecedented. Hear the Emir: â&#x20AC;&#x153;We created billionaires from oil subsidies in the past. We are making the same mistake with Forexâ&#x20AC;Śas an Emir, I can sit in my garden and make phone calls to access $10 million at N197 per $ then sell it off at nothing less than N300. With just a phone call, Iâ&#x20AC;&#x2122;m making a profit of over a billion Naira. That is what people are doing nowâ&#x20AC;ŚAny system that allows you sit in your garden and make a billion Naira without investing a kobo is a wrong systemâ&#x20AC;?.

Even Asiwaju Bola Tinubu at some time registered his displeasure about President Buhariâ&#x20AC;&#x2122;s lack-lustre performance in government.

As stated earlier, since Buhari came to power youth unemployment in Nigeria has risen up to 33.1%. According to the National Bureau of Statistics (NBS), Nigeria under Buhari, is now acknowledged as the poverty capital of the world with 87 million â&#x20AC;&#x153;extremely poor peopleâ&#x20AC;? thus overtaking India in extreme poverty ranking. Under Buhari in 2017, Nigeria was ranked as the third most-terrorized country in the world. In the same 2017 Nigeria became the country with the second worst electricity supply in the world. In the same year Nigeria Police was ranked the worst Police in the world just as Nigeria was ranked by the World Health Organization (WHO) as a country with the 3rd highest infant mortality rate in the world. Northern Nigeria was also ranked as the worst region in the world with the highest number of illiterates.

On July 25 2018 the BBC reported that â&#x20AC;&#x153;Nigeria has the largest number of out-of-school children, totaling 13 million, in the world.â&#x20AC;?

APC LAGOS IS NOT WORKING

The APC government has demonstrated a lack of capacity in dealing with traffic congestion, writes.Olakotan Ogun

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n Monday February 11, I watched in amusement when Joe Igbokwe, the publicity secretary of the All Progressivesâ&#x20AC;&#x2122; Congress (APC) failed to make an appearance on a breakfast show on a top television station. The spokesperson of the Peoples Democratic Party (PDP) who was meant to face off witih Igbokwe that morning was there. But, Igbokwe was nowhere in sight. Why? He â&#x20AC;&#x153;was caught up in heavy traffic.â&#x20AC;?

I beamed a self-gratified wide smile.

This is hilarious. APC in Lagos which Igbokwe often bandy about as the best thing to happen to Lagos has watched on helplessly while â&#x20AC;&#x153;containersâ&#x20AC;? virtually own the major highways of Surulere, Ikorodu road, Carter bridge, and worst-hit, Apapa.

This is the Lagos of Igbokwe whose APC-led government has done nothing to solve the menace beyond a few feeble attempts leading many to spend precious productive hours in traffic gridlock.

It is good for Igbokwe to feel the pinch which Lagosians have faced for countless number of years. Igbokwe needs to know that, like it happened to him that day, many have missed precious scheduled appointments like visa interviews, job interviews or meetings, others have missed important life events like weddings, birthdays, naming ceremonies while crucially, many others like Jaye Aboderin of the Aboderin dynasty and Amaka Igwe who was a film producer, have lost their lives due to health emergencies where they could not reach the hospitals on time due to traffic gridlocks.

Generally, all across Lagos, the situation is no

different because the road surfaces are very bad. In Amuwo--Odofin, Ojo, Festac, Badagry, Ogba, the roads are so terrible that it makes one wonder if they are caravan routes plied by horses and camels rather than roads that were ever paved. I do not know from where Igbokwe was coming from on Monday. But it is an apt reminder for him to quit clowning around as he is wont to do when asked critical questions about APCâ&#x20AC;&#x2122;s bad governance; the party should wake up and face the reality of total infrastructural collapse in Lagos.

Few days ago, Lagosians watched in bemusement when articulated vehicles called â&#x20AC;&#x153;containersâ&#x20AC;? were magically removed from many highways in Lagos few days to the arrival of President Muhammadu Buhari to Lagos for his presidential campaign. These â&#x20AC;&#x153;containersâ&#x20AC;? have been permanent menace on several routes in Lagos where the drivers of these vehicles permanently park them.

Along Carter bridge, Ikorodu road, Lagos-Ibadan expressway, and especially, Apapa, these articulated vehicles block major highways in Lagos, obstructing traffic for years on end. The APC government has demonstrated a lack of capacity in dealing with this stubborn issue.

APCâ&#x20AC;&#x2122;s unwillingness to address the situation became glaring when a year ago, these long vehicles mysteriously disappeared from worst-affected Apapa. As many pondered the development, it became widely reported that a senior army official who was posted to Apapa quietly and efficiently effected the wonderful change. Again, over these last few days, the articulated vehicles made a swift disappearance from Lagosâ&#x20AC;&#x2122; roads. These developments make it glaringly obvious that banishing of

these vehicles can be done on Lagosâ&#x20AC;&#x2122; roads. But, since the powers-that-be in Lagos do not feel the pinch, the common man continues groaning under the punishing weight without a reprieve in sight.

Not too long ago, a newspaper obtained an audio recording of Rotimi Amaechi, minister of transportation and director general, President Buhari Campaign Council, who made some revelations about Lagos State. In it, the minister was heard describing Lagos, the countryâ&#x20AC;&#x2122;s commercial centre and former capital as a â&#x20AC;&#x153;glorified villageâ&#x20AC;?.

Amaechi said the city lacked basic infrastructure compared to Abuja, the countryâ&#x20AC;&#x2122;s capital with its poor road network, lack of running water, and infamous vehicular traffic congestion. â&#x20AC;&#x153;I live in Abuja, tell me where else we have infrastructure. Lagos is a glorified village. The only difference between Lagos and other cities is the fact that business is in Lagos, everybody is there doing business, so you can at least have food,â&#x20AC;? he said. Going further, he said, â&#x20AC;&#x153;If not tell me what else you have in Lagos?

1,000 plus megawatts. Thatâ&#x20AC;&#x2122;s all. Thatâ&#x20AC;&#x2122;s what you have. What else do you have? No water, there are no roads. When you hear traffic jams in Lagos or any part of Nigeria, why are there no traffic jams in Abuja? The reason why you meet traffic jams in Lagos is because there are no roads,â&#x20AC;? the former governor of Rivers State added.

The Peoples Democratic Party (PDP) in Lagos quickly latched on to the development to lampoon the APC. Jimi Agbaje, its gubernatorial candidate in the state unequivocally charged that put simply, Lagos is not just working under APC. â&#x20AC;&#x153;We commend Rotimi Amaechi for his shrewd observation.

Amaechi is a high-ranking federal APC cabinet

member and has been resident in the Abuja, the Federal Capital Territory for years. Yet, he can acutely discern what member of Amaechiâ&#x20AC;&#x2122;s own party in Lagos has stoutly refused to acknowledge but live in mendacious denial of,â&#x20AC;? Agbaje said.

APCâ&#x20AC;&#x2122;s frequent chest-beating as having the best template of governance in the entire country if not, Africa is becoming an irritating din. It smugly wags at the populace to observe the badly-done roads, grandiose bridges and withering flowers that dot Lagos as the topmost benchmark of exceptional governance in Lagos in the past 20 years and a spent expenditure of over N7 trillion.

On the Lagos-Abeokuta Expressway, there was a small pothole by Cement bus stop. Road usersâ&#x20AC;&#x2122; attempts to dodge this pothole always cause a bumper-to-fender traffic holdup on that stretch of road during rush hour every day. Like Igbokwe, many had pressing work resumption or pressing appointments to make but unfortunately missed it just because of APCâ&#x20AC;&#x2122;s bad leadership in the state.

Since 1999, when Nigeria returned to democratic rule, Lagos State has been exclusively governed by the ruling All Progressives Congress (APC) comprising one of the parties which formed the merger that birthed the APC. The state often prides itself as having constructed roads in that time but the ratio of roads constructed in that time is too few and far between compared against the general damaged state of all Lagos roads. Even the ones constructed at that time are substandard and crying for massive rehabilitation. It is good for APC stalwarts in the state to feel what an average Lagosian feels everyday.

Ogun wrote from Apapa, Lagos

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

EDITORIAL AFDB And The Sanitation Targets The authorities should do more to eliminate open defecation

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he call by the African Development Bank (AfDB) on development partners to scale up support for implementation of sanitation programmes to fast-track Africa’s progress and deliver on its promise to the continent is well-targeted. However, African countries will also have to take more seriously the 2015 Ngor Declaration in Senegal if they are to achieve universal access to adequate and sustainable sanitation and hygiene services and eliminate open defecation by 2030.

According to the Division Manager, AfDB’s Water Development and Sanitation Department, Osward Chanda, the United Nations estimates reveal that some 734 million Africans do not have access to basic sanitation infrastructure, which translates to 62 per cent of the population on the continent. “We need to optimise the resources available and ensure harmonisation of our approaches as development partners, in order to increase opportunities IN MANY OF OUR SOfor regional member CALLED MODERN CITIES countries and for them to make the ON THE CONTINENT, best of the existing MANY PEOPLE USE resources and leverage THE OUTDOORS AS on finances available,” BATHROOMS AND said Chanda who also TOILETS pointed out that there were huge disparities between service levels in rural and urban areas.

Sadly, this recourse to defecation in open spaces, according to medical experts, kills more children than malaria, AIDS and measles combined. While it is declining in most regions of the world, it is actually rising in sub-Saharan Africa where, because of lack of access to basic sanitation, people defecate behind bushes, in open bodies of water and inside gutters. In rural communities in several of the African countries, people still build houses without provision for toilets, or as the case may be, latrines where waste can be emptied

without others coming in contact with it. In the urban centres in many countries, the issue is also pervasive.

Indeed, in many of our so-called modern cities on the continent, many people use the outdoors as bathrooms and toilets. Many walkways and nearby bushes reek of urine and decaying faecal matters. And experts have consistently warned that when large numbers of people are defecating outdoors, it’s extremely difficult to avoid ingesting human waste, either because it’s entered the food or water supplies or because it has been spread by flies and dust. In a recent report entitled “High and Dry: Climate Change, Water and the Economy”, the World Bank said: “Water scarcity, exacerbated by climate change, could cost some regions up to six per cent of their GDP, spur migration and spark conflict.”

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

n Nigeria the percentage of our people who defecate in the open ranges between 20 and 30. But what worries is they are not restricted to the rural areas as many residents of Lagos, Abuja and other cities also defecate in the open. That reality was underscored recently by President Muhammadu Buhari while declaring a state of emergency on water supply, sanitation and hygiene in the country. “Access to piped water services which was 32 per cent in 1990 has declined to seven per cent in 2015; access to improved sanitation has also decreased from 38 per cent in 1990 to 29 per cent in 2015. Our country now ranks number two in the global rating on open defecation as about 25 per cent of our population are practicing open defecation,” the president said.

Given the foregoing, we endorse the call for resource mobilisation for sanitation and hygiene within the continent through the development of water supply initiatives. With the plan by AfDB to mobilise resources from a variety of donors, including traditional development partners and the private sector, and draw up an initial pipeline of inclusive sanitation projects, the objective can be met before 2030 which is just 11 years away. But that will only happen if the authorities on the continent take the issue of hygiene much more seriously.

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NIGERIA: A COUNTRY GROPING FOR REDEMPTION

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f Nigeria gets her politics right, she will effortlessly achieve economic prosperity, technological advancement, peace and unity, and a good democratic model. But, sadly, Nigeria is still mired in national underdevelopment as no countries in our today’s world can rise above the aspirations, visions, and dreams of their national leaders. Malaysia, Singapore, and some other Asian countries were propelled to the acme of technological and economic successes by their visionary leaders, who possess leadership qualities and probity.

Since her attainment of statehood and political sovereignty in 1960, Nigeria has not been led by her best and able politicians. This sad and bad state of thing is partly caused by the British imperialists, who surreptitiously foisted Alhaji Tafewa Belewa on us when either Nnamdi Azikiwe or Chief Obafemi Awolowo would have become our prime minister and laid the groundwork for the evolution and growth of our democratic model and Nigerian’s speedy national development.

So, it did not come to many Nigerians as a surprise when the first republic failed; and, consequently, Nigeria descended into a fratricidal civil with its dire and devastating consequences. Thereafter, Nigeria witnessed and suffered military interregnum, which hindered the evolutionary trends of our country’s democratic model, and put our economic and technological advancement in abeyance.

And, in the second republic, we embraced Presidentialism. But the politicians in that political dispensation put their selfish and primordial interests above the people’s collective good in their governance of Nigeria. Their doings imperilled the continued survival of Nigeria, then. This led to the truncation of the second republic by the sanctimonious military men, who would brand their military government as a corrective one.

The soldiers ruled Nigeria for a considerable length of time with Major General Babangida (rtd.) embarking on a political transition rigmarole. And while he institutionalized corruption in Nigeria, Sanni Abacha mindlessly stole Nigeria blind. In addition to that, Abacha, who had homicidal proclivities, killed some members of NADECO, who opposed his planned transmutation to a civilian

president.

Thankfully, today, Nigeria has been enjoying uninterrupted democratic governance since 1999. So far, PDP had ruled for the greater part of the fourth republic with Chief Obasanjo chalking up eight years of the fourth republic.

PDP’s reign and leadership of Nigeria ended when Muhammadu Buhari defeated Dr. Goodluck Jonathan in the 2015 Presidential slugfest.

Buhari won the election on the coat tails of his perceived integrity, zero tolerance for corruption, and zeal for political leadership. More so, Dr. Jonathan’s ineffective political leadership helped Buhari’s political cause and ambition.

But Buhari’s leadership of Nigeria has led to the unravelling of his mystique.

He has deepened our ethnic and religious fissures with his nepotistic and clannish deeds. Now, he has cloaked Nigeria’s most exalted seat of power with an aura of autocracy and clannishness. Didn’t he recruit only northern Moslems to occupy our top security architecture? This has drawn the ire of the Igbo people and others. And there is a connection between Buhari’s nepotistic and clannish actions and the violent resurgence of pro-Biafra separatist sentiments.

And he failed to tweak our economy in order for it to improve tremendously. Today, the naira is weak against most foreign currencies. And millions of Nigerians, who eke out a precarious existence, live below the breadline.

Now, millions of unemployed university graduates who wear threadbare clothes and disintegrating shoes search for elusive white and blue collar jobs, daily. Worst still, Nigeria has returned to the Hobbesian state of nature where life is short nasty and brutish, what with the Boko-Haram insurgents causing unremitting blood-letting in the North-East of Nigeria. And the killings being executed by the itinerant Fulani herdsmen have not been checked. Now, Nigeria under the leadership of President Buhari is reeling under severe insecurity of life and property.

Chiedu Uche Okoye, Uruowulu-Obosi, Anambra State

ATIKU AND A COWED JUDICIARY he judiciary arm of government

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has never had it so bad like it’s being tossed left and right under this dispensation of Muhammadu Buhari. It being stripped of its dignity and completely emasculated (apology here to our female jurists for my choice of a colourful word); nonetheless, that is the painful fact. The Chief Justice of Nigeria has been sacked, other notable justices have been harassed, judges have been publicity shamed, etc. The surprise here is how Nigerians decide to allow illegitimate executive actions to rule supreme. Now that Candidate Atiku Abubakar is heading for the courts to seek redress over the electoral fraud that deprived him of the presidency, all eyes are on the judiciary to see how it reacts after being boxed and cowed into a whimpering dark corner for too long now. Of course, no one in asking the judiciary to do anything untoward to favour Atiku but the judiciary must now adjudicate based on available and prevailing facts. This is what jurists have been sworn to do.

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

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

MIDWEEKPOLITICS

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

A N A LY S I S AVictory Foretold Nseobong Okon-Ekong writes that all pointers indicate an overwhelming victory for Governor Udom Emmanuel of Akwa Ibom State in the March 9 governorship contest

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he victory of the Peoples Democratic Party (PDP) in all three Senate seats and 10 federal constituencies in Akwa Ibom State has again noted the supremacy of the PDP in the

state.

The defeat of Senator Godswil Akpabio in his own Senate bid on the platform of the All Progressives Congress was particularly remarkable, given the fact that he had pledged to use what he thought was his clout to crush the PDP. The victory of the PDP was, however, not for anything. It was based on the fact that the people of the state had seen and believed the works of the incumbent governor of the state, Mr. Udom Emmanuel who deviated from his predecessor’s path to the touch the felt needs of the people of the state.

Indeed, Mr. Emmanuel’s achievements are evident in all three senatorial districts of the state.

The February 23, 2019 Presidential and National Assembly in the country has come and gone remaining the governorship and state assembly polls coming up on March 9.

However in Akwa Ibom state, analysts of the results of the last Saturday election were quick to conclude that the PDP would still carry the day for the governorship and state assembly polls.

Some pointed out that the PDP would have recorded higher scores in the last election if not that the opposition APC in the state caused violence using political thugs and armed security men to disrupt election in PDP strongholds in some wards across the state that led to the cancellation of results in those areas.

Also the result of the last Saturday elec-

Emmanuel

Ekere

tion which saw the PDP swept all the three senatorial and ten federal constituency seats in the state seemed to point to the fact that Akwa Ibom PDP was prepared for the general elections.

Speculation in some quarters is that the victory of governor Udom Emmanuel is a done deal. This is because he is enjoying massive support of majority of Akwa Ibom stakeholders and elders including all House of Representatives and Senator-elects.

Besides the boasts that Akwa Ibom state is predominantly a PDP state given the fact that it has been controlled by the PDP since 1999, the governor’s achievements across the three senatorial districts of the state seemed to have won him massive of Akwa Ibom people.

Even majority of the citizen and residents were surprised as the governor reeled out his achievements during the campaign tours to

the different local government areas ahead of the elections to learn that he was actually working contrary to positions of his critics.

For some of them, what the governor did was like lighting a candle and hiding it under the bushel.

But the governor’s close associates and aides understood the fact that the governor was just being modest or humble about his achievements.

Unlike in previous elections where some aggrieved communities would attack a governorship candidate coming to seek their support for re-election for neglect and marginalization, governor Emmanuel was widely accepted in all the communities and local government areas he toured during his campaigning.

Some Akwa Ibom indigenes even recalled that the convoy of the two past governors of the state were stoned in some areas or

even chased out by angry youths during their re-election campaigns especially in the Oro axis of Eket senatorial district as a result of neglect, and non fulfilment of promises made to them earlier.

Close allies and the optimism that aides to the governor were even quick to attribute the development to his performance and spread of development projects and appointments across the senatorial districts especially to the yet-to-be touched areas.

The Commissioner for Works Mr. Ephraim Inyang-Eyen has done so many road projects in the different parts of the state. He listed some of the roads which cuts across ikot Ekpe, Eket and Uyo senatorial districts to include Obtome-Arochukwu road, Awa-Ikot Edem-ikot Edem, 10kilometers Udung Uko road, Ring road2 in Uyo, “If you go to Akwa Ibom state University, Obio Akpa campus, 6.4kilometers including those linking communities are ready for commissioning. Oron Phase2 is also on course notwithstanding the financial setbacks. By end of April Etebi Enwang road will be ready.

In Mkpat Enin and Oruk Anam LGAs we have roads ready for commissioning” Inyang said not even the outcome of the presidential election could affect the result of Akwa Ibom governorship polls in the state, stressing, “Akwa Ibom people stand with governor Udom Emmanuel. The choices before Akwa Ibom people are very clear and by March 9, they will speak very loud.

That is why there are fears in the camp of the APC” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

In Osinbajo’s Interest Raheem Akingbolu writes that stakeholders in Ogun State have begun to mount pressure on citizens to cast their votes in the governorship and House of Assembly elections in favour of the All Progressives Congress candidates to honour Vice President Yemi Osinbajo, an indigene of the state

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hough Vice President Yemi Osinbajo will not be the direct beneficiary of Saturday’s election, it is believed in some quarters that the victory of his party –All Progressive Congress (APC) in the Ogun State gubernatorial election, will boost his political profile. To this end, a subtle move is being made by friends and admirers of the nation’s Number Two Man to appeal to electorates to cast their votes in favour of APC candidates in the election.

Beside the fact that Osinbajo hails from Ogun State, many observers have argued that winning the state; will be a reward for Osinbajo, whose campaign strategies during the build up to the election have been described as the most impacting and pragmatic.

But despite this, an Ogun State born Marketing Communications expert and political analyst, Mr. Hakeem Olarewaju Adenekan has argued that the state is dicey, adding that no politician can confidently beat his or her chest that one of the parties would win the election.

“As things stand in Ogun, it is difficult for anybody to predict where the pendulum will swing because nobody can do the permutation and arrive at who will win the state on Saturday among DapoAbiodun ofAPC,AdekunleAkinlade of the Allied Peoples Movement and others. Be that as it may, in my own opinion, I believe Akinlade will win in Ogun Central Senatorial district, which include Abeokuta because of the influence of his chief promoter, Governor Ibikunle Amosun. In the Ijebu axis, Dapo Abiodun will win overwhelmingly by at least 70% and he will also get at least 45% in Yewa. The remaining 55% in Yewa will be shared between Akinlade and Gboyega Isiaka of the African Democratic Congress (ADC). At the end, Abiodun may emerge winner with a slim

Osinbajo margin,” Adenekan said.

From professional perspective, the Managing Director of Media Edge, a Public Relations company, Mr. John Ajayi, while speaking on why he feels the Vice President’s input may help his party in the election stated that Osinbajo’s campaign strategy during the electioneering campaign was most eclectic and people oriented.

“The town hall dimension introduced by Osinbajo was most salutary and innovative because it turned full circle as a political enigma. His doorto-door campaign and regular engagements with all relevant stakeholders in all towns and cities he visited, no doubt helped to shore up the hitherto low perception rating of the image of President Muhammadu Buhari administration which prior to the election campaigns was perceived to be somehow far away from the electorates.

“Indeed, the city by city, village by village visita-

tions and long treks and camaraderie with all the mass of the people in the areas visited helped the campaign messages and government programmes and policy achievements to percolate the different strata of the society and the electoral demographics. He was no doubt a sales man per excellence given his oratorical prowess and the depth of knowledge about the achievements and economic policies of the administration. At every fora, he inspired hope and a renewed sense of loyalty by the Nigerian people .His restless campaign to create full awareness of the administration achievements was unmatched especially his resolve to continue with His campaign plans despite having being involved in an air crash was most inspiring and unbelievably incredible,” Ajayi said.

Also speaking on the approach, a Mass Communication Scholar, Dr. Sunday Aniyi described the house to house campaign embarked upon by Osinbajo as one of the best campaigns that have ever been run in Nigeria. Aniyi, who projected that the Vice President may take his party to the victory on Saturday, said the campaign must have unlocked many hearts.

“In marketing, the best campaign is the one that connects with the target audience. With his house-to-house approach, Osibajo had campaigned the way a political leader should campaign. He went directly to those who vote, he interacted with them and felt their pulse. From Ado Ekiti to Abeokuta to Ijebu, Ilorin to Lokoja land, he jaw jawed with market women while dolling out the TradeMoni. It showed in the faces of the women that they were elated that a serving Vice-President came to their shops to canvass for votes. While some people were thinking of how to manipulate election and weaken INEC, Osibajo went out of his comfort zone and campaigned. With that approach he has successfully humanised the office

of Vice-President. Even if for political gain, he has demonstrated what public service should be about,” he said.

Speaking to THISDAY on why Ogun people should honour Vice President Osinbajo with their votes on Saturday, a member of the APC mandate group in the state, Ms. Dhiqrah Yetunde Ogunnaike, said it would be embarrassing for the country’s Number Two Citizen to go back to Abuja as a loser in his home state.

She said; “At this stage, I think our people should look beyond party divides in casting their votes.

In the history of Nigeria, I don’t think there has been any Vice President that lost his state to opposition. From the late Alex Ekwueme in 1983 to Abubakar Atiku in 1999 and 2003, Goodluck Jonathan in 2007 and Namadi Sambo in 2011, it never happened that a vice president lost his state to opposition. If APC fail to produce Ogun State Governor, it will not only embarrass the Vice President, it will weaken his negotiating power for the South West in the years ahead. That is why we have consistently reminded our people on the honour we will be doing our vice president by voting for Dapo Abiodun on Saturday,” Meanwhile, a close aide of the Vice President, who is also a Special Adviser in the presidency, Mr. Babafemi Ojudu, who was part of his campaign train while the exercise continued, has aptly described Prof. Osinbajo’s passion as second to none.

“As a direct witness to Vice President Osinbajo’s activities while the campaign lasted, I will simply say his passion was driven by genuine belief in the Next Level mantra of the Buhari administration.

He put in his best and I’m sure this impacted well on the party’s campaign and victory in the presidential and national assembly elections.

No doubt, it will also be success all through on Saturday,” Ojudu said.

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T H I S D AY ˾WEDNESDAY MARCH 6, 2019

STATE OF THE POLITY

Lagos. The Moment. The Man. Sunday Dare

G

od in the moment makes things happen beyond ourselves. Progress is a road that forever extends itself the more we travel it. It never ends but continues to urge us forward .Genuine progress weds the finer aspects of our past to the possibilities of our greater future.

As we approach the Governorship election, I believe Lagos is ready to keep faith with its strong tradition of progress. This is a tradition of excellence that has served us well during the past 20 years. Our state has been on a journey of improvement of our infrastructure, our public transportation and roads, physical security and law enforcement, the judiciary and administration of justice, health care, and our educational system. The state has become a welcoming home to business innovation and investment. Lagos drives the national economy more than any other state. It sets the standard by which all others are measured.

As excellent a city as Lagos is, and as profound as its journey has been thus far, Lagos is ready to become its greater self.

For us to reach these heights demands the best possible leadership. During the past 20 years, the state has benefited from such leadership.

This leadership has guided us on our collective journey to progress and toward a greater Lagos. Under the progressive leadership of Asiwaju Bola Ahmed Tinubu, a team of able and innovative minds joined together to articulate a blueprint for development. Afterwards, they began the implementation of blueprint for the revival, modernization and improvement of this state, its governing institutions and its economy.

The improvements we see today are the seeds planted and germinated by that team.

After Tinubu, Babatunde Fashola (SAN) followed and held close to the strategic plan.

Lagos continued to flourish under him. Governor Akinwumi Ambode came on board and doing to the extent he could understand the collective and overarching vision.

The people who served Lagos during the Tinubu /Fashola period have distinguished themselves in sustained service to the state and nation.

One such exemplary person is Babajide Sanwo-Olu, a leader but also a team player with the rare talent of making things greater than how he met them. He is my friend and brother.

Sanwo-Olu

During the many years we have known each other, he has always amazed me with his wealth of knowledge and deep understanding of the working of government. He is a man equipped with strategic vision as well as an eye for detail and a able hand to implement even the most complex task. During this time, I come to know Jide as someone who does,excellently,whatever he commits his mind to. And he has always committed himself to the wellbeing of the people of Lagos. He was always ready for a task or any assignment. Also ready to pitch in or to give advice. Always ready to team up to get things done. Always on the look out for others.

He is someone who quickly comes to the aid of a needy friend or extends a helping hand to a stranger in distress. That is the Babajide Sanwo-Olu I know.

His grasp of issues was uncommon. His networking ability unprecedented.

Exactly three years ago, I made a remark that first startled him but has now proved to be prescient. Jide as I love to call him had developed the habit of checking up on me at work. Working with Asiwaju Tinubu, one had no need for a clock because work never ends.

You just keep at it. Weekday, weekend, holidays -- they are all the same. They are workdays. He was always there to encourage and support me. We discussed many issues. Our hopes.

Our dreams and desire for a better country. He

never stopped to remind me of two things. One, that he was older than me by several months and calling him “egbon” was it -albeit jocularly.

And two, that it was always better to level with people you deal with and seek to build relationships. On this point he was serious.

Even though I loved his finesse and the sure footedness with which he walks, I did not like the fact that he never let me win an argument.

Once, when I thought I had won and got home to pour myself my usual DP drink ,my phone suddenly rang. Lo and behold it was Babajide.

Having excavated more information about what we discussed he called to let me know that he was right and I was wrong. I thanked him and promptly returned to savour my drink anyway.

He is studious with an attention for details.

But back to that conversation by the pool where I told him. “Jide, you know you will make a good governor some day,” I blurted.

He waved it off in a philosophical manner saying he would leave everything to God. Well three years later, fate has thrusted him forward.

Promotion cometh not from the West or the East but From God. In Babajide’s case the fact that God is never late readily comes to mind.

Many will say the moment found the man. I will say because God was in the moment, the man was found to lead Lagos forward. Sanwo-Olu is a gift to Lagos. Remember that. Therefore On March 9, 2019, Lagosians will have the chance to decide between moving their state to the next logical phase of its development or to go backwards. The opportunity to sustain the trajectory of growth and development in Lagos state presents itself this Saturday. The All Progressives Congress (APC) governorship candidate, Mr. Babajide Sanwo-Olu holds the key to great possibilities. Babajide Sanwo-Olu possesses the right qualifications for the job and is moved by a passion to see the state excel.

Where other contenders for the governorship speak in nebulous generalities and abstractions that have no real life application, Jide is a man of concrete proposals and of ideas with eminent and practical application. It is of note that he initiated many projects at a time when he served in the Tinubu and Fashola administrations. Showing such initiative and drive while serving two governors, just imagine what he can deliver when provided the mandate as the Chief Executive of the state.

He was Managing Director/Chief Executive Officer of Lagos State Development and Property

Corporation, Special Adviser on Corporate Matters, Commissioner for Budget and Planning, Commissioner for Commerce and Industry, Commissioner for Establishments and Training are just a few of the important positions Sanwo-Olu held and excelled in. Few have had his kind of well-rounded experience. Even fewer have the versatility and talent he has. By far, his track record distinguishes him from the rest of the field of candidates. There is no question as to who is most able. The only question is whether we want Lagos to progress further by voting for Jide or do we vote for another candidate who will make Lagos stagnant.

The most vivid assurance of his deep understanding of what is required to generate more progress is the Master Plan unveiled as the core of his campaign. The pillars of development encapsulated under T.H.E.M.E confirms he knows how to get the job done.

This perhaps explains the spontaneous connection that Lagosians shared with him from the moment he announced his candidacy. In a departure from the usual, whereby people have cause to fear that a candidate will isolate himself once elected, Sanwo-Olu has sufficiently demonstrated that he can be counted upon to remain accessible to the electorate.

His door-to-door campaigning and engaging Social Media handles tell of a man that will explore all available avenues to ensure feedback and input from citizens of Lagos state. One only needs to interact with those that have worked closely with him to appreciate his passion for getting direct feedback from stakeholders.

This Saturday, Lagosians must make a choice.

A choice between continuing on a journey of progress with a clear road map or to be satisfied with a PDP candidate that will run an inferior government that will take Lagos to an inferior future. We must decide between a journey toward our greater selves or a step toward failure and setback. Lagos has always had the wisdom and courage to select the right way. Let us remain true to our progressive tradition by electing Jide Sanwo-Olu as our next governor. With Jide at the helm, a greater Lagos not only will come into clear view, it will be within our collective reach. Let us be bold enough to reach for it.

-Sunday Dare is former Chief of Staff to Asiwaju Bola Tinubu and currently Federal Executive Commissioner, at the Nigerian Communications Commission. Abuja.

Denouncing the Emerging Culture of Violence in Gombe Ibrahim Sani

F

or those with the eagle eyes, the recent colour of events in Gombe State is an harbinger of a plan to intimidate, cow, frighten, terrify, discourage as well as an attempt to incubate an atmosphere of fear ahead of the governorship and state house of assembly elections in Gombe State to create voter apathy that will leave an opening for manipulation following the political routing of the Peoples Democratic Party (PDP) in the presidential election. The PDP had eight years to deliver the dividends of democracy and endear itself to the good people of Gombe but they turned to the sour path with their massive looting of the common wealth of the people, excessive borrowing that puts the economy of the state in danger, accumulation of gratuities worth over N10 billion, neglect of critical infrastructure and exercise of ingenuous financial recklessness that have made living for the common man regrettable under Gov. Ibrahim Hassan Dankwambo.

With all these by the PDP, the people of Gombe moved quickly to salvage their state from the hands of those who have made democracy more devilish than expected, by impressively taking sides with the All Progressives Congress (APC) through the ballot. This has been brewing anger from the awaiting opposition party (PDP) who have decided to punish the people by out-rightly threatening the citizens of Gombe and destroying their properties, not excluding campaign offices and materials of the APC. We want to expose the political madness of the PDP in Gombe as well as the PDP’s use of thugs and hoodlums to regain the already lost grounds in the race for Gombe Government House.

If signs still play sacrosanct part of human existence, then what happened in Gombe State on Saturday, March 2, is a clear indication that

Dankwambo

democracy has been slaughtered on the altar of tyranny, thuggery and political rascality. There is a video evidence to show that the thugs of the PDP went to Gombe airport to welcome a seating governor with weapons of different sorts. And shortly afterwards, the thugs accompanied their general on a destruction spree burning shops, threatening the peace of many, destroying the campaign materials of the APC. Surprisingly, the hoodlums also attacked a private radio station, Progress FM, a move many have described as a trend that can discourage investments from coming into the state. They attacked the block industry belonging to an APC faithful, Alhaji Kurugu Na Babayo Goje, (Excellent Block Industry Investment Quarters Tumfure) and destroyed it and all APC properties on sight and they also burnt some houses. As if that was not enough, the family house of Alh. Muhammadu Inuwa Yahaya, the Gombe State Gubernatorial Candidate of the All Progressive Congress in

Jekadafari was also attacked; thus, endangering the lives of members of Alh. Muhammad Inuwa Yahaya’s family.

All these happened in the quest to assert political dominance which to political analysts is an absolute abuse of the people’s mandate. This has resulted to situation where there are more questions than answers. Do people not have the right to associate themselves with a party they feel can protect their interests? Should we all keep mute and allow the recklessness of the PDP to go without consequences? Must our youths be their agent of political rascality? Should our leaders stoop so low as to begin to supervise wanton destruction in broad day light?

When the state government said they spent over N170 million annually in rehabilitating the youths out of cultism and other social vices, many were quick to welcome the idea while few were weary of the motive behind such. Time being the gentleman that he is has revealed the reason for that humongous spending; political thuggery. Now, it is clear that such payments were made to bake some youths for their selfcentered ambition during electioneering year.

In a recently released video, Gov. Dankwambo had attributed his lose to an ‘act of God’. In as much as I agree, I would also like to add that the voice of the people is the voice of God, so whichever way one looks at the act of God and the voice of the people, it is a matter of six or half a dozen. I think what is more important is the recognition of the voice of the people and the unhidden quest for change. For a state that has given Gov. Dankwambo, eight years to run their affairs, the best way to return the favour is to allow the same ‘act of God’ he attributed his lose to, to take prominence in the forthcoming governorship election and not to force an ‘ungodly act’ on the good people of Gombe State which may end up turning Gombe into a state

where peace may become a scarce commodity.

Gov. Dankwambo also, said: ``we have also noticed recent developments, some people going out in the night to destroy various properties of other people and to also threaten peace of cordial existence of people in the state. They do not deserve the kind of treatment some people are treating them but this is the signals of the things that are coming if things go wrong in Gombe State.’’

From his speech, there are so many questions begging for answers: when did the governor start seeing these signals of things that are coming?

When exactly, did things start going wrong in Gombe State? Your answers are as good as mine.

As a good citizen of the state and a stakeholder in the affairs of the good people of the state, I like to tell the people to remain peaceful and undaunted in the face of severe provocations while charging the security personnel to study the antics of democratic terrorists who want to circumvent the wishes of the people of Gombe State in broad daylight.

At the end of Gov. Dankwambo’s speech, he said that the choice for the people of the state was to choose between peace and violence, by this, having lost his bid for the Senate, is a direct call for his supporters to cause violence and mayhem.

In the face of all this, the PDP publicity council chairman, is busy sending secret press releases to journalists to cover their political rascality and undemocratic sceneries of the Gov. Dankwambo and Sen. Bayero by trying to twist the story of what happened to gain cheap public sympathy but the people who witnessed the ugly events are aware of their antics. Alas! This was what many bigwigs saw that made them defect from the PDP in a Tsunami-like manner. By that defection, the PDP became nothing but a party of no chieftains, other than the political twins of our time; Gov. Dankwambo and Sen. Bayero

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FEATURES

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

New Dawn in Akwa Ibom

Mary Nnah writes that itâ&#x20AC;&#x2122;s a new dawn in Akwa Ibom State as its newly established airline Ibom Air, is set to join the league of airlines adorning the nationâ&#x20AC;&#x2122;s skyline, courtesy of the leadership of Governor Udom Emmanuel, whose vision of industrialising the state has yielded positive results

Governor Udom Emmanuel and the Senate President, Dr. Bukola Saraki, boarding the Ibom Air

F

or the teeming mass of Akwaibomites and other well-meaning Nigerians who turned up to en mass to witness the making of history that Wednesday afternoon at the Victor Attah International Airport Uyo, it was worth the while. The occasion was the arrival of the two of the three aircrafts that were to announce the commencement of the new airline, Ibom Air, to be owned and managed by the Akwa Ibom State Government under the public private partnership (PPP) model.

The third of the aircraft has since joined the fleet, paving the way for the new airline to commence commercial operations any moment from now.

Attahâ&#x20AC;&#x2122;s Perspective Literally everyone who spoke at the event admitted that the arrival of the airline heralded a new dawn for the state.

Perhaps no one else could have put the event of the day in better perspective than the former governor of the state, Arch.

Obong Victor Attah, whose dispensation was from 1999 to 2007.

In an emotion-laden voice, he first thanked God for keeping him alive to be â&#x20AC;&#x153;a living witness of this great dayâ&#x20AC;?, while commending Governor Emmanuel for bringing to birth â&#x20AC;&#x153;the dream we had several years ago.â&#x20AC;?

It was Attah, the architect, regarded

as the father of modern Akwa Ibom who not only dreamt but also started the airport project fitted with a maintenance hangar, though his successor did all he could to obliterate his name from the dream project.

However, fate smiled on him when on his 80th birthday anniversary last year, the incumbent renamed the airport after him. Thus, Attahâ&#x20AC;&#x2122;s emotion was

Ibom Air project is a monumental achievement not only in Nigeria but in Africa. Let anyone show me a state in the whole of Africa that has set up and managed an economically viable airline

understandable. For the preacher who did the opening prayer, it was a day of â&#x20AC;&#x153;Godâ&#x20AC;&#x2122;s visitation, to be a living witnesses of the great day, where for the first time in Nigeria, a state was setting up an airline.â&#x20AC;?

Blazing a Trail For the Chairman of Ibom Air, Otuekong, Air Commodore Idongesit Nganga, (Rtd.), who was also the first indigenous military administrator of the state, it was simply â&#x20AC;&#x153;a magical momentâ&#x20AC;? for which he was grateful to God for making him a partaker. According to Nkanga, Governor Emmanuel has blazed the trail as the first state to own and operate an airline, a feat he credited to the governor â&#x20AC;&#x2122;s â&#x20AC;&#x153;foresight, focused leadership and industrial driveâ&#x20AC;?.

Monumental Achievement But the governor, on his part, would rather give â&#x20AC;&#x153;all the glory to God for making this day possible.â&#x20AC;? Adorned in the Ibibio traditional regalia and wearing a generous smile all over, Emmanuel described the Ibom Air project as â&#x20AC;&#x153;a monumental achievement not only in Nigeria but in Africa.â&#x20AC;?

As he went further to say, â&#x20AC;&#x153;let anyone show me a state in the whole of Africa that has set up and managed an economically viable airlineâ&#x20AC;? adding quickly that such a feat â&#x20AC;&#x153;can only come from a state named after the Almighty God

Himself,â&#x20AC;? even as he re-stated his belief in the fact that governance is not rocket science, but something that can be easily attained if one puts oneâ&#x20AC;&#x2122;s mind to it.

His vision, Emmanuel said, is that Ibom Air will be â&#x20AC;&#x153;one of the most efficient, economically and profitably run airlines.â&#x20AC;? Thus, the average age of the three aircraft the airline will start with, is about six years compared to industry average of about 20 years.

Back-up Measures As a back-up, the governor also unveiled plans to complete the MRO (Maintenance, Repair and Overhaul) facility to enable the airline, on start-off, enjoy substantial level of maintenance locally. â&#x20AC;&#x153;We have gone far with the MRO project,â&#x20AC;&#x2122;â&#x20AC;&#x2122; Emmanuel announced, explaining further that â&#x20AC;&#x153;the MRO must be furnished with equipment that can service different types and categories of aircraft, whether Bombardier, Boeing or Airbusâ&#x20AC;?.

Aside servicing the Ibom Air when operational, the MRO will equally undertake the servicing of other aircraft flown locally with a target on international carriers. Thus, the project was, from the outset, set up as an economically viable one.

Also on the card, as Emmanuel explained, is the plan to commence the building of what will emerge as one of the most modern terminal buildings

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FEATURES

Ibom Air in the country at the airport. This, the governor said, will cater to the high influx of passengers that would be expected at the airport as Ibom Air takes off, but more importantly as the airline has mid-term plan to haul first the regional and eventually international routes.

Economic Blueprint Emmanuel said on arrival as the governor of the state, he had unfolded a three-faceted agenda on which the economic blueprint of the state would be based: air, land and sea. This, he said, accounts for the emphasis he has placed on developing road network in the state which has resulted in the completion of over 1,700 kilometres of roads within the state in the last three and half years.

Whatâ&#x20AC;&#x2122;s more? The governor also noted that the deep seaport project in Mbaka, Mbo Local Government was part of that agenda avowing that it was his determination to bequeath the state with â&#x20AC;&#x153;the most modern, digital Deep Seaport in Africa.â&#x20AC;?

Giving some insight as to the kind of professional and operational efficiency envisioned for Ibom Air, Emmanuel said he had had to recruit key operational members of staff of the airline from the most renown and efficiently-run airlines around the globe.

Benefits Contrary to Emmanuelâ&#x20AC;&#x2122;s endless critics who have already dismissed the Ibom Air project as a scam, the technical consultant to the airline and renown pilot, Capt. Mfon Udom, said what is today manifesting as Ibom Air is a product of painstaking and rigorous planning, noting that the project actually started over three years ago â&#x20AC;&#x153;but we kept it to our chest until its manifestation todayâ&#x20AC;?.

Ibom Air, Udom said is designed as â&#x20AC;&#x153;one of the vehicles that will drive our economy.â&#x20AC;? Giving details of the operational modalities, the veteran pilot said the airline will progressively build a fleet of 10 aircraft with which it will eventually venture into regional and international operations.

For now, he said, Ibom Air will commence operations on the Uyo - Lagos and Uyo - Abuja routes with the three

aircrafts already on ground. According to him one more aircraft will join the fleet in August while three more are being expected in 2020 and 2021 respectively.

Udom further said that a team of excellent managers drawn from the best airlines around the globe will be assembled to build Ibom Air into â&#x20AC;&#x153;a brand that will be internationally recognised.â&#x20AC;?

Hinting at what would be the enormous economic benefits of the airline; Udom said â&#x20AC;&#x153;profits in aviation parlance are not necessarily in the bottom line but rather in spurring other activities around the highly technological industry like aviation.â&#x20AC;? In other words, the economic benefits of the airline would go beyond the revenue it will generate for the government to other aspects like creation, technology transfer amidst other multiplier effects on the state economy.

Encomiums Indeed, several other Nigerians who witnessed the event were full of commendation for Emmanuel for breaking the jinx and sending a state government

Governance is not rocket science, but something that can be easily attained if one puts oneâ&#x20AC;&#x2122;s mind to it...My vision is that Ibom Air will be one of the most efďŹ cient, economically and proďŹ tably run airlines

owned airline into the Nigerian sky. To the Senate President, Dr. Bukola Saraki, who was the Special Guest of Honour of the occasion, the governorâ&#x20AC;&#x2122;s feat represented â&#x20AC;&#x153;the celebration of leadership, the celebration of the audacity of hope, the celebration of a man who has a dream for his people and stops at nothing to actualise it.â&#x20AC;? Apparently overwhelmed, Saraki described Emmanuel as â&#x20AC;&#x153;a product of the PDP, a shining example of true and focused leadership.â&#x20AC;?

To Engineer Uwem Okoko, the MD/ CEO of HENSEK, a foremost Civil Engineering/ Road Construction company in the state, Ibom Air â&#x20AC;&#x153;marks the beginning of diversification of the state economy.

Itâ&#x20AC;&#x2122;s a wonderful day.â&#x20AC;? Emmanuel, he said, â&#x20AC;&#x153;is a man filled with the spirit of God, the Joshua of our generation; who has come to lead Akwa Ibom State to the Promised Landâ&#x20AC;?.

Okoko noted for instance that a country like Ethiopia has no oil but has used aviation to bring the country to a global acclaim, insisting that with the focused leadership offered by Emmanuel, â&#x20AC;&#x153;this state has been liftedâ&#x20AC;?.

Speaking in a similar vein, Udeme Ufot, MD/CEO of SO & U Saatchi said, â&#x20AC;&#x153;Ibom Air climaxes Udomâ&#x20AC;&#x2122;s industrialisation driveâ&#x20AC;?, adding going forward, â&#x20AC;&#x153;I am no longer standing with Udom, I am flying with Udom.â&#x20AC;? According to Ufot, â&#x20AC;&#x153;that Ibom Air is commencing operations from day one with a three-aircraft-fleet, shows the potentials of the state and the ingenuity of the governorâ&#x20AC;?.

Also commending the governor was Prince Ukpong Akpabio, the state Commissioner for Commerce and Industry who acknowledged the feat as â&#x20AC;&#x153;a landmark achievementâ&#x20AC;?, given the fact that Nigeria as a country has not been able to register another national carrier since the demise of the Nigeria Airways. â&#x20AC;&#x153;The achievement recorded today is not only for Akwa Ibom State but Nigeria as a whole and the entire PDP family. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s the celebration of foresight, the celebration of a man who took it upon himself to ensure that Akwa Ibom State registers her presence in the airspace of the Nigerian aviation industryâ&#x20AC;?, Prince Akpabio further stated.

As for the International President of

the Ibibio Socio-cultural association, Mboho Mkparawa Ibibio, Akparawa Patrick Udofia, â&#x20AC;&#x153;Emmanuel has made every Akwa Ibom person to stand tall with his achievements. He has made us proud.â&#x20AC;? â&#x20AC;&#x153;Ibom Airâ&#x20AC;?, he said, â&#x20AC;&#x153;will open up Akwa Ibom to the world and Iâ&#x20AC;&#x2122;m happy to be alive today to see history being made.â&#x20AC;?

For Sam Edoho, Senior Special Assistant to the governor on Marketing and Brand Management, Ibom Air marks the height of Governor Emmanuelâ&#x20AC;&#x2122;s industrialisation drive, an icing on the cake.â&#x20AC;? Edoho further said, for the opposition in the state who had chosen to close their eyes to the governor â&#x20AC;&#x2122;s strides in the state, â&#x20AC;&#x153;this is one achievement that will shut the mouths of opposition forever and one capable of opening the door for the governor â&#x20AC;&#x2122;s second term in office.

What was supposed to be a very brief ceremony in the end turned out to be a very long one but the people were in the spirit and seemed not to mind the heat of the tropical sun on the tarmac of the Victor Attah International Airport, that Wednesday.

Considering the nature of that ceremony, one would have expected the climax to come with the arrival of the two glittering aircraft already adorned in the state colours; when everyone rose with spontaneous shouts of joy to welcome the aircraft. But no, rather, the high point of that event, no doubt, turned out to be the moment of worship, when the people rose in one accord led by a pretty damsel in the most sonorous voice, to render worship to God with the song, â&#x20AC;&#x153;Afo Omodot Itoroâ&#x20AC;?, (You (God) deserve all the Glory).

As the song was reeled out, the crowd was thrown into one long ecstasy with some kneeling, others rolling on the floor of the tarmac, with the majority lifting their hands and eyes to the sky; all singing in acknowledgement of the God who has heralded the state into a new era with the arrival of Ibom Air. For now, everyone who can afford it are waiting anxiously to savour the services of the brand new airline, whose managers say will be available once the remaining regulatory hurdles are scaled.

From every indication, that waiting may not be long.

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5 ) * 4 % ": t WEDNESDAY, MARCH 6, 2019

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T

REPO 17.42 % ÍŻÍ´Ë&#x203A;͹͹Ϲ

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 ͹͎ʹË&#x203A;͜ͳ˚ͯ ĚŠ *AS AT LAST FRIDAY

Quick Takes Edo Sponsors World Digital Exhibition

The Edo State government has taken up the permanent host city of the sponsorship of World Digital Exhibition (Worldex), a global technology trade fair hosted annually to link up Sub-Saharan Africa with the global technology community.

InaletteraddressedtotheManagingDirectorofAlfordConferences Limited, Mr. Frederick Apeji, the promoter of the technology trade exhibition,theChiefofStaďŹ&#x20AC;toEdoStateGovernor,Mr.TaiwoFrancis Akerele said: â&#x20AC;&#x153;I write to inform you that the Executive Governor Mr. Godwin Nogheghase Obaseki, has approved your proposal/request for Benin City as Permanent Host City (PHC) for the annual World Digital Exhibition scheduled to begin in August 2019.â&#x20AC;?

In the letter, Akerele added that, â&#x20AC;&#x153;Edo State Government considers your proposal in line with our technology drive and looks forward to working with you in order to achieve the laudable objectives of the event.â&#x20AC;? At a meeting with some of the Event Management Partners (EMPs) forWorldex held in Abuja recently to formally announce the sponsorship, Apeji said: â&#x20AC;&#x153;We are pleased that Edo State government has put its weight behind the Worldex by accepting our invitation to be the PHC sponsor for the annual event.

Diamond Bank Introduces PayDay Loan

DISTRIBUTORSâ&#x20AC;&#x2122; AWARD NIGHT

L-R: Group Managing Director, Dangote Industries Limited, Olakunle Alake; first runner up, National Distributor of Dangote Cement, Onyemelukwe Ifenchor, MD, Lafenax Nigeria Limited, receiving an award from President/CE, Dangote Industries Limited, Aliko Dangote and Group Managing Director, Dangote CementPlc,Engr.JosephMakoju,attheDangoteCementPlc2018DistributorsAwardNightheldinLagos...recently

10 Banks Facilitate N11.2tr Transactions on FMDQ OTC Goddy Egene Ten banks facilitated N11.27 trillion transactions on the FMDQ OTC Securities Exchange in January 2019.

The performance by the 10 banks was 74.4 per cent of the total N15.08 trillion recorded for in the month.

The 10 banks were led by Stanbic IBTC Bank Limited, United Bank for Africa Plc and Access Bank Plc, which occupied the first, second and third positions respectively.

The first three banks accounted for 51.17 per cent of the subsection of the market.

The other seven banks included: Standard Chartered Bank Nigeria Limited, Ecobank Nigeria

INVESTMENT Limited, First Bank of Nigeria Limited, Coronation Merchant Bank Limited, Citibank Nigeria Limited, FBN Quest Merchant Bank Limited and First City Monument Bank Limited.

In the FMDQ OTC fixed income and currency (FIC) market recorded a turnover of N15.08 trillion in January. The performance showed a decrease of 14.8 per cent compared to the turnover of December 2018, which was N17.7 trillion.

The Treasury Bills (T.bills) and foreign exchange (FX) market segments remained the major driver s of turnover in the FIC market, jointly accounting for 78.69 per

cent of turnover in January and higher by 2.21 percentage points from their contribution to turnover in December (76.48 per cent).

Total FX market turnover in January 2019 was $14.91 billion, representing a 35.36 per cent increase from the $11.01 billion turnover recorded in December2018.

The increase in FX turnover in January could be attributed to the 150.61 per cent and 0.61 per cent rise in member- clients and inter-member trades which was only marginally offset by the 27.55 per cent decrease in member-CBN trades.

Turnover at the Investors & Exporters (I&E) FX Window in January 2019 recorded 22.42 per cent and 26.86 per cent month-on-

month(M-o-M) and year-on-year decreases respectively, to close at $3.84 billion from the $4.95 billion and $5.25 billion recorded in December and January 2018 respectively.

A further analysis of FX turnover by product type showed that FX Spot was the main driver of the overall increase in FX turnover, with a MoM increase of 462.93 per cent. The exchange said the increase in FX Spot could be attributed to FX inflow for investments in the higher yielding FGN fixed income securities.

Conversely, FX Derivatives recorded a MoM decrease of 42.34 per cent , driven mainly by a44.89 per cent decline in member-CBN Continued on page 24

FG Urged to Enhance Disposable Income The federal government has been advised to initiate policies to improve National Disposable Income (NDI) in the country.

FSDH Merchant Bank Limited, stated this in its latest economic report.

The report reviewed the total income available for residents and firms in Nigeria, usually referred to as NDI, between the first quarter of 2016 and the second quarter of 2018, and concluded that it was weak and cannot take the country to the â&#x20AC;&#x2DC;Promised Landâ&#x20AC;&#x2122;. â&#x20AC;&#x153;Therefore, something urgent must be done so that the country will not continue to rely on excessive borrowing or avoid a situation where savings will continue to drop,â&#x20AC;? it stated.

INVESTMENT The total income available for use by residents in Nigeria comes from four major sources. The total remuneration of employees in the formal sector, operating surplus (profit of businesses), total taxes payable on products, minus any subsidies received for the product, and the net income, transfer and profit from abroad.

However, the report pointed out that operating surplus dominated the total national disposable income, which represented an average of 69 per cent during the period. But the growth in inflation rate during the same period, at 37.14 per cent, was higher than the growth in the

operating surplus at 32.85 per cent. Therefore, in reality, the operating profit contracted, the report showed.

Again, household compensation was low. This is made up of salaries of employees in the formal sector including benefits in kind (such as pensions).

To this end, the firm noted that if an individual, business, government or, by extension, a country wants to increase its spending and savings power, there must be a plan to increase the ability to generate income.

It pointed out that any entity that desires to increase its spending and savings without a plan to increase its ability to generate income would surely have to borrow to fill the gap, all things

being equal. â&#x20AC;&#x153;And you know that a borrower can easily become a slave to a lender if he is not able to meet his obligations to the lender. â&#x20AC;&#x153;The high costs of running businesses in Nigeria caused by ineffective institutions to enforce law and order, insecurity, defective infrastructure, and inadequate support systems for new businesses are the major factors responsible for the weak growth in profit. â&#x20AC;&#x153;The high unemployment level in the country, insufficient new job opportunities and the large informal sector are all responsible for weak growth in household

As part of its merger beneďŹ ts to customers, Diamond Bank has introduced PayDay Loan to ease the ďŹ nancial burden of customers.

PayDay Loan is an instant salary advance service available to all customers who have their salary accounts in Diamond Bank. This is service quick, convenient and does not require any paperwork, collateral or guarantor.

PayDayLoanwasoriginallyanAccessBankSalaryAdvanceScheme that provides instant credit to its salaried customers and individuals whose salaries are processed through the electronic payment platform REMITA. A statement explained that as result of the business combination deal between Diamond Bank and Access Bank, the instant loan service has now been extended to Diamond Bank salary account holders. â&#x20AC;&#x153;Customers are at the heart of our decision to create one of Nigeriaâ&#x20AC;&#x2122;s leading banks.The combination of Access Bank and Diamond Bank will result in real beneďŹ ts and that is why we have introduced the PayDay Loan scheme to Diamond Bank customers. â&#x20AC;&#x153;Together, we will bring the power of banking to millions across Nigeria, focused on speed, service and security. â&#x20AC;&#x153;We are determined to ensure that both Access Bank and Diamond Bank customers will experience no disruption to normal banking services while we join forces to create Nigeria and Africaâ&#x20AC;&#x2122;s largest retail bank by customers,â&#x20AC;? Access Bankâ&#x20AC;&#x2122;s Executive Director, Personal Banking Division, Victor Etuokwu explained: â&#x20AC;&#x153;To request a PayDay Loan, customers who have their salary accounts in Diamond Bank should simply dial *901*11# on their mobile phones and follow the prompts.

Tecno Fetes Customers

Tecno mobile has organised a special Valentine day event for four couples as measure to show them love. According to a statement by Tecno Mobile Public Relations and Strategic Partnership Manager, JesseOguntimehin, themobilecompanytookacuefromBigBrother Naija ďŹ nalist Bisola, who put out a viral video after being dared by a fan to ride a tricycle in the streets of Lagos. The statement also noted that Tecno mobile with support from Radisson Hotel Ikeja, FilmHouse IMAX Cinemas Lekki and Kunle Afolayanâ&#x20AC;&#x2122;s IRE clothing, decided to give four couples a special valentine treat through an online activity called the #IFYOULOVEME challenge which saw fans of the brand daring their loved ones to do something audacious.

Oguntimehin, in the statement expressed satisfaction at the success of the campaign, stating that this was what the mobile is all about, â&#x20AC;&#x153;we love our fans and what better way to show it, than to encourage them to show love to their favourite people while we also give them a memorable experience.â&#x20AC;? The statement added: â&#x20AC;&#x153;Out of the tons of interesting and creative entries that included a lady acting as a bus conductor and another taking over the role of a suya merchant, Azeezat Lawal, Anita Clement, Ofere Oluwatobi and Oluwatoni Animashaun were selected as winners as they had the most creative dare responses with the highest number of views.â&#x20AC;?

â&#x20AC;&#x153;â&#x20AC;&#x153;It is only when the economy is buoyant, that the people will be able to save, and that provides enough liquidity for banks to lend and fuel the economy. The other sub-sectors including the bureaux de change sector will equally be positively impacted y a thriving economâ&#x20AC;?

ABCON President,

Aminu Gwadabe Continued on page 24

24

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

10 BANKS FACILITATE N11.2TR TRANSACTIONS ON FMDQ OTC

Ayade Inaugurates Toothpick Factory

FX Swaps turnover, while turnover in FX Futures also declined by 35.66 per cent.

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

Monthly Trading Intensity in the T.bills and FGN Bonds markets decreased marginally from 0.49 per cent and 0.09 per cent in December 2018, to 0.46 and 0.08 in January respectively, as the 12.77 per cent rise in T.bills and FGN Bonds outstanding did not result in similar or higher growth in turnover.

T. bills within the 6-12-month maturity bracket remained the most actively traded in January 2019, accounting for 44.57 per cent of the total FIC market turnover. Yield spread between the 3-month T. bill and the 10year FGN Bond decreased by 217basis points (bps) to close at 3.18ppts in January 2019 (1.01ppts in December 2018).

Hamid Ayodeji

FG URGED TO ENHANCE DISPOSABLE INCOME compensation,â&#x20AC;? it added.

FSDH noted that the weak NDI limits consumption of households, government and investments by firms. â&#x20AC;&#x153;We note that little income is channelled into savings and investments. This is also one of the reasons the interest rate on loans is high, and a single digit interest rate may not be achievable in the short-run. â&#x20AC;&#x153;As noted earlier, one can also link the weak income generation to the weak household consumption.

Low level of household consumption also reduces government tax, particularly Value Added Tax (VAT). â&#x20AC;&#x153;In addition, it reduces the amount that is available to purchase goods and services produced by firms.

Ultimately sales drop, profit drops, tax income drops and a firm will not be able to sell as much as it should sell to enable it to expand production; the firm will not be enabled to employ more people,â&#x20AC;? it added.

Group Business Editor

Ă&#x152;Ă&#x201C;Ă&#x2DC;Ă&#x2DC;Ă&#x2039; Ă&#x2019;Ă&#x201C;Ă&#x2014;Ă&#x2039; Capital Market Editor

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

AgriBusiness/Industry Editor

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

Cross River State Governor, Prof. Ben Ayade, has inaugurated an ultramodern toothpick factory at Ekori, Yarkurr Local Government Area of the state.

The state-of-the-art factory is capable of producing 31 million toothpicks in a day.

Speaking at the inauguration ceremony, Ayade was quoted in a statement to have disclosed that his administration was â&#x20AC;&#x153;trying to create an economy that will radically alter the economic landscape of the state.â&#x20AC;? â&#x20AC;&#x153;The country does not just change by mere promulgation of policy, the country changes by systematic, active but very visionary step by step approach towards the realisation of a set objectives and one of the set objectives is to move Cross River State from third world to first world under my eight years in office,â&#x20AC;? he added.

The governor explained that â&#x20AC;&#x153;the Ministry of Agriculture in 2016 decried an average of 18million dollars spent annually importing toothpicks into Nigeria, hence the federal government put toothpicks importation under the dollar access prohibition list, which means it cannot give you dollars if you intend to import toothpick, so we decided to take advantage of the policy to set up this factory.â&#x20AC;?

Continuing, Ayade disclosed that only Cross River has such a factory as a state owned project with 100 per cent management by indigenes of the state while creating jobs for the teeming unemployed men and women.

While urging indigenes of the area to go into massive commercial cultivation of bamboo which is the raw material for toothpicks, the governor said: â&#x20AC;&#x153;It has a short gestation period that is why it belongs to the grass family and it grows veraciously with wide growth.â&#x20AC;?

Continuing, Ayade directed: â&#x20AC;&#x153;Cultivate enough bamboo trees, we can produce 31 million toothpicks in a day, that is lots of business and lots of money with massive turnover.â&#x20AC;?

The General Manager of the company, Dr Ignatius Atsu, earlier disclosed that â&#x20AC;&#x153;the factory, one of the many factories conceived by the Ayade administration produces the finest, strongest, organic and beautiful toothpicks which has brought significant economic value, creating wealth and introducing socioeconomic development in the area.â&#x20AC;?

He added that the company which has injected several millions of naira into the economy shares the vision to produce a world class

toothpick that would meet consumersâ&#x20AC;&#x2122; demand at a minimal cost.

At the palace of the Obol of Ekori where the governor stopped over for Royal blessings before the official commissioning ceremony, the Royal father, Obol Donatus Ibor Ofem, lauded Ayade for his industrialisation drive spread across the state, a record, the Obol said, â&#x20AC;&#x153;no governor had ever beaten over the years.â&#x20AC;?

Ofem intimated that, â&#x20AC;&#x153;since 1611 when Ekori came into

existence, no governor has ever visited this palace except Ayade,â&#x20AC;? explaining further that, â&#x20AC;&#x153;Ayadeâ&#x20AC;&#x2122;s feat in citing a factory in the area as well as the offer of appointments to our sons and daughters has tremendously helped to put food on our tables while reducing the rate of crime.â&#x20AC;?

The monarch who was at the ceremony said thus of Ayade: â&#x20AC;&#x153;This is the first industry in Yarkurr. We are happy with Ayade, we have had governors but this one is too much.â&#x20AC;?

STAKEHOLDERSâ&#x20AC;&#x2122; ENGAGEMENT

L-R: First Vice President, Chartered Institute of Bankers of Nigeria (CIBN), Mr. Bayo Olugbemi; Managing Director/CEO, Ecobank Nigeria, Mr Patrick Akinwuntan; President/Chairman, CIBN, Dr. Uche Olowu and Registrar/CEO, Mr. Seye Awojobi, during the presentation of the instituteâ&#x20AC;&#x2122;s crest to Akinwuntan,duringastakeholdersâ&#x20AC;&#x2122;engagementwiththebankinLagosâ&#x20AC;Śrecently

Baobab MFB Set to Raise Capital Base to N5bn Eromosele Abiodun The Managing Director and Chief Executive Officer of Baobab Microfinance Bank, Kazeem Olarenwaju, has said the bank will beat the September 2019 recapitalisation deadline set by the board of the bank.

Olarenwaju, who disclosed this in a chat with newsmen on the sideline of the bankâ&#x20AC;&#x2122;s customer forum held in Lagos, said the financial institution has several offers on the table that would take its capital base from the current N2.9 billion to N5 billion.

While stressing that the banks would continue to grow and be profitable, he said the bank between January to December 2018 grew its loan book by almost 65 per cent, adding that its customer deposits has also increased to

over N3 billion.

According to him, â&#x20AC;&#x153;The timeline the board has set is September this year to make sure that the bank is fully recapitalised to N5 billion.

However, let me also say that all the shareholders are very eager to make their contribution and I think it is just a matter of how is it going to be done. Interestingly, I have four banks in Nigeria who are willing to pay the remaining part of our capital; they made that proposal to us. â&#x20AC;&#x153;We also have the Nigerian Stock Exchange (NSE) saying they want to do it for us. We also have a lot of financial houses who said they want to raise bond and all that. â&#x20AC;&#x153;When I look at the performance of the bank in the last one year, only a stupid shareholder will not take their rights because I can tell you

that our earning has grown more than 500 per cent. So, I can tell you that all our shareholders will be interested in taking up their rights and you know by regulation we have up to April 2020 to capitalise. â&#x20AC;&#x153;The other thing that we are looking at is that given what has happened last year by the time we end this year its most likely that we will be close to that capital base even with our profit without anybody making any contribution.â&#x20AC;?

He reassured the bankâ&#x20AC;&#x2122;s commitment to ensure safe and convenient banking for their customers in order to make them experience a seamless transaction.

Olarenwaju, said the bank believes that the growth of the customer is the growth of the bank therefore one of the agenda of the bank for the year is to actualise the

plan of the bank to digitize its services as it has already been implemented in Senegal and Madagascar subsidiaries.

According to him, the bank has met the feedbacks gotten from the customers in the previous forum has the company has opened four additional operational branches, one in Lagos and three in Abuja. The number of customers increased to 87,000 bringing the staff strength to 150. â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;ve also introduced a whole lot of products to take care of variety of customers; today we can give moratorium of three months, a month or two months as the case may be. We have TAKA which is an electronic small loan that we offer to existing customers

by SMS immediately with no further documentation. All this are put together to make sure that customers have a very good

experience. â&#x20AC;&#x153;Between January to December last year weâ&#x20AC;&#x2122;ve grown our loan book with almost about 65 per cent, which means that itâ&#x20AC;&#x2122;s a lot easier for our customer to be able to obtain loan as we offer up to 60 million in fact we can do as much as 200 million. â&#x20AC;&#x153;he said Furthermore, Olarenwaju boasted that the bankâ&#x20AC;&#x2122;s earning as grown more than 500 percent and the board and shareholders has set a timeline to recapitalize the capital base from N2.9 billion to N5 billion according to the CBN regulation.

Testifying to the growth of the bank one of the customer of the bank, Olumide from Ikotun branch expressed his gratitude disclosing that he has been able to grow his business which was on the verge of collapsing with the loan he obtained from Baobab.

prices,â&#x20AC;? Reuters quoted Agribusiness intelligence analyst, Sergey Chetvertakov, to have said.

Top producer Ivory Coast was projected to have a crop of 2.12 million tonnes, up from the prior seasonâ&#x20AC;&#x2122;s 1.96 million with number two Ghana

predicted to produce 950,000 tonnes, up by 47,000 tonnes.

The report also noted that Europe and North America face saturated local markets and the growth rate of grinding was slowing down compared to the two previous seasons.

Comms/e-Business Editor

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

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

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

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

Global Cocoa Surplus Seen in 2019 A global cocoa surplus is expected in the 2018/19 season, Informaâ&#x20AC;&#x2122;s Agribusiness intelligence has disclosed, with record production driven by favourable weather in West Africa.

Global cocoa production was seen hitting a record high of

4.85 million tonnes, leading to a surplus of 71,000 tonnes for the October/September season, it said in a report.

The projected surplus was slightly higher than the median forecast of 30,000 tonnes in a Reuters poll earlier this month.

The ICCOâ&#x20AC;&#x2122;s most recent

estimate for the 2017/2018 season was a small surplus of 22,000 tonnes. â&#x20AC;&#x153;Massive cocoa production is almost certain this year and as a result we may expect a very volatile market in 2019 as higher-than-expected production pressures cocoa

25

T H I S D AY Ëž ÍłË&#x153; 2019

BUSINESSWORLD

ENERGY

Finally, NERC Arbitrates on NBETâ&#x20AC;&#x2122;s Management Crisis The Nigerian Electricity Regulatory Commission has stepped in to stop an internal management crisis at the Nigerian Bulk Electricity Trading Plc, writes Chineme Okafor After months of upsetting internal management crisis at the Nigerian Bulk Electricity Trading Plc (NBET), a government-backed bulk power purchaser in Nigeriaâ&#x20AC;&#x2122;s privatised electricity market, the Nigerian Electricity Regulatory Commission (NERC) last week moved in to use its regulatory power to stop the situation from further deteriorating.

Investigations by THISDAY on the internal activities of the NBET had uncovered a couple of disturbing developments which at that time rocked the operations of the agency.

The unwholesome development perhaps started in 2016, with top officials at the NBET fighting each other for supremacy.

In the centre of this battle for supremacy which eventually escalated into other unsavory acts including allegations of process abuses, were the Managing Director, Dr. Marilyn Amobi and two other top officials of the agency â&#x20AC;&#x201C; Mr. Waziri Bintube, who once headed the finance department of NBET and Mr. Abdullahi Sambo, also headed NBETâ&#x20AC;&#x2122;s audit department.

And, because of the central role the NBET plays in the electricity market, the crisis at some point threatened to render it rudderless with the countryâ&#x20AC;&#x2122;s electricity market worst for it.

How the crisis started According to documents obtained by THISDAY then as well as sources spoken to on the development, the genesis of the management crisis allegedly started with the appointment of Amobi in 2016 by President Muhammadu Buhari, to run the affairs of the agency after the tenure of NBETâ&#x20AC;&#x2122;s former head, Mr. Rumundaka Wonodi, was abruptly terminated.

But before Amobi was appointed, Bintube, had served in an interim capacity for few months.

His appointment was however not confirmed by the government, and this allegedly did not go down well with him. This, allegedly fueled an opposition to Amobi.

Furthermore, from three complaint letters Amobi wrote in 2016 to the ministry of power of an alleged physical assault on her on November 9, 2016 in the presence of the staff of the agency by one of the general managers, THISDAY gathered that the operational situation in NBET had by then become tensed.

According to sources, the assault complaints to the ministry did not get any attention, and when THISDAY called the Permanent Secretary in the ministry, Mr. Louis Edozien for clarification of this, he declined to comment.

Following this, the crisis continued and in June 2017, reached a new height when a restructuring exercise was done at the NBET, and Bintube was moved from his position as chief financial officer, alongside Sambo, who was the auditor.

This, according to documents sighted by THISDAY did not also sit well with the two officers who reportedly petitioned two religious groups alleging a conspiracy against them by Amobi on the basis of their religion. This was after they were suspended by Amobi for allegedly staying away from work for up to six months and then their salaries and emoluments equally suspended.

Likewise, officials of the NBET who were close to the development also told THISDAY then that the issues relating to Bintube and Sambo bothered on basic organisational discipline and respect for rules governing the actions of government officials.

They explained that both officials left their duty posts when the office of the Accountant General of the Federation seconded two of its officials to the NBET to help the agency attain a self-accounting status.

That exercise, they noted required some management reshuffling and Bintube and Sambo were thus moved to head new departments.

This, they alleged did not go down well with them and they subsequently left their duty posts for up to six months in disregard of both the government and NBETâ&#x20AC;&#x2122;s rules of engagement.

Accordingly, both officials rejected their new postings and reportedly petitioned a non-existent board of the NBET with the insistence that Amobi had no right to redeploy them to new departments.

It was further alleged that between June and December 2017, when this happened,

Amobi Sambo reportedly claimed a six-month salary worth N11.276 million and N1.355 million car maintenance expense without reporting to work, but that Amobi in December stopped his salaries until when the non-existent board determined his petition.

Similarly, Bintube was reported to have been paid a six-month salary worth N16.488 million, as well as car maintenance allowance of N626, 123, even though he didnâ&#x20AC;&#x2122;t report to work as well.

Ethno-religious slant introduced into crisis THISDAY further gathered that a religious slant was subsequently introduced into the leadership crisis as complaints from Bintube and Sambo against Amobi were sent to two Muslim groups â&#x20AC;&#x201C; the Muslim Media Watch Group and Abuja Muslim Forum, which then petitioned the NBET and equally accused Amobi of injustice and religious victimisation of both officials.

The groups accused the NBET under Amobi, of religious intolerance and unconstitutionally depriving both officials of their salaries and emoluments which they said had been in arrears.

In their petitions, they claimed Amobi exhibited acts of executive lawlessness despite interventions from the power ministry in the management struggles between her and the duo.

The petitions were signed by Nasir Balogun who is the national secretary of the Muslim Media Watch Group for it, while L. J Ahmad, president of the Abuja Muslim Forum signed for it.

According to the groups then, Amobi unjustly moved both officials from their positions and subsequently suspended them from the NBET for their failures to report to the new posts. They said her acts were motivated by the religion and ethnicity of the two officials.

In the centre of this battle for supremacy which eventually escalated into other unsavory acts including allegations of process abuses, were the Managing Director, Dr. Marilyn Amobi and two other top ofďŹ cials of the agency â&#x20AC;&#x201C; Mr. Waziri Bintube, who once headed the ďŹ nance department of NBET and Mr. Abdullahi Sambo, also headed NBETâ&#x20AC;&#x2122;s audit department

Momoh Going further, the Abuja Muslim Forum, which specifically stated that it represented the Nigerian Supreme Council for Islamic Affairs (NSCIA) and Jamaâ&#x20AC;&#x2122;atu Nasril Islam (JNI) amongst other Islamic organisations, called for the reinstatement of both officials unconditionally.

To prevent a potential religious fracas or crisis at the NBET, Amobi, it was learnt reportedly called the attention of the Sultan of Sokoto, Alhaji Muhammad Saâ&#x20AC;&#x2122;ad Abubakar and Emir of Kano, Muhammadu Sanusi II, to the development been that they are both president and vice president of the NSCIA. Allegations of N2 billion diversion In addition, the two officials in a letter dated September 28, 2018 to the minister of finance with a whistleblowing report, had alleged there was a N2 billion fraud perpetrated at the NBET

by Amobi.

While calling for an investigation and perhaps prosecution of anyone liable in the alleged fraud, the complainants alleged there was a monthly over-invoicing of about N2 billion to Olorunsogo and Omotosho power Gencos contrary to NERCâ&#x20AC;&#x2122;s order on capacity payments.

They equally claimed the NBET under Amobi paid Olorunsogo and Omotosho these monies while other Gencos were subjected to the NERC order, adding that officials of the agency were working with Amobi to perpetrate the alleged over-invoicing. â&#x20AC;ŚAnd NERC steps in Following repeated calls by industry stakeholders for the NERC to step in and arrest the situation at the NBET, the commission finally took up the challenge and investigated especially the N2 billion over-invoicing claims of Bintube and Sambo.

It also made public its findings last week, and cleared the Amobi-led NBET of unwholesome practices as alleged by both Bintube and Sambo.

It explained that in line with its regulatory powers, it had to investigate the N2 billion overpayment claims to Oloronsogo and Omotosho because it wanted to amongst other objectives, maintain the integrity of the electricity market.

According to it, its overriding objective was to provide clarity to investors, lenders and other stakeholders on whether the management of NBET engages in fraudulent or inappropriate practices in the discharge of its statutory responsibility to the countryâ&#x20AC;&#x2122;s electricity market as suggested by the claims of both officials. â&#x20AC;&#x153;The independent investigation conducted by the Commission focused on the allegation of corruption relating to the purported over invoicing of about N2 billion in the monthly market settlement payments due to the aforesaid two power plants on 18th and 19th February 2019. The board of NBET has been requested to refer other allegations to relevant agencies for review. â&#x20AC;&#x153;The Nigerian Electricity Supply Industry (NESI) is a very technical industry that is dependent on

back-to-back intra-industry agreements between the various tiers of the value chain and back-toback inter-industry agreements that exist between the upstream tier of thermal generators and gas suppliers,â&#x20AC;? said NERC in the report detailing the outcome of its investigation.

In conducting the investigation, NERC explained that it interviewed top management of NBET who were involved with the management of Power Purchase Agreements (PPAs) of the Gencos, as well as Bintube and Sambo over a period of two days. â&#x20AC;&#x153;The findings of the Commissionâ&#x20AC;&#x2122;s investigation are as follows: All payments made by NBET to the two power plants were in accordance with the terms of the PPAs. NBET and the two power plants executed appropriate waivers in accordance with the terms of the PPAs to address condition precedents. â&#x20AC;&#x153;Payments made by NBET to the two power plants were done in compliance with the NERC TEM (Transitional Electricity Market) order pursuant to the provision that sanctity of existing agreements be maintained. â&#x20AC;&#x153;Payments to the two power plants, in compliance with the terms of the PPAs, were effected

by Mr. Rumundaka Wonodi during his tenure as the Managing Director of NBET, Mallam Waziri Bintube during his tenure as Acting Managing Director of NBET and continued by Dr. Amobi upon her assumption on duty as Managing Director of NBET,â&#x20AC;? said the NERC. The NERC further stated that Bintube provided legal justification for the payments to the two power Gencos through an email he sent to Edozien on August 17, 2016.

It added that: â&#x20AC;&#x153;Mallam Waziri Bintube and Mallam Abdullahi Sambo were unable to substantiate any claims of over invoicing to the tune of N2 billion each month by NBET in the payments to these two power plants; and they refused to admit that raising false allegations which they could not substantiate of over payment of N2 billion each month by NBET to the two power plants, constituted a crime during their interviews; and could also not provide further evidence to substantiate any form of inappropriate payments being made to these two power plants as they had alleged. â&#x20AC;&#x153;These unfounded allegations by Mallam Waziri Bintube and Mallam Abdullahi Sambo have brought NESI into disrepute and weakened investor confidence in a sector where different agencies of government have been working collaboratively to address sector issues for the overall public good and in the interest of Nigeria.â&#x20AC;?

Putting paid to the allegations, the report said: â&#x20AC;&#x153;The Commission hereby confirms that capacity payments to the Olorunsogo and Omotosho power plants by NBET are in line with the power purchase agreement executed between the contracting parties and the provisions of the supplementary TEM order by the Commission.

The public is therefore advised to discountenance the allegations of inappropriate payments to the Omotosho and Olorunsogo power plants.â&#x20AC;?

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Dangote Cement Maintains Leadership Dangote Cement last week unveiled its results for 2018, showing improvement and maintaining its leadership position in the industry, writes Goddy Egene Investors who patronise the stock market in order to get regular dividend payment annually has Dangote Cement Plc among stocks in their baskets. The cement firm, which is the highest capitalised on the Nigerian Stock Exchange (NSE) has remained consistent in payment of dividend. This is has endeared the stock to many investors.

For instance, for the financial year ended December 2016, the company paid a dividend of N8.70 per share. It raised the dividend to N10.50 in 2017.

Last week when the company released its results for 2018 financial year, shareholders were not disappointed as Dangote Cement further raised the dividend to N16 per share.

Financial performance Dangote Cement Plc in its audited results recorded 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. Pan-African operations recorded revenues of N263.26 billion, an increase of 9.6 percent over N258.44 billion posted in the corresponding period 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. The company directors are proposing a dividend of N16 per share.

A further analysis of the performance showed that Dangote Cement maintained its dominance of the Nigerian market, accounting for 65 per cent of the total volume sold in the domestic cement sector in 2018. The company also exported 800,000 metric tonnes (MT) of cement to West African countries, strengthening Nigeriaâ&#x20AC;&#x2122;s position as a cement exporting country, creating jobs in the economy, and earning foreign exchange.

The company sold a total of 23.54 MT of cement across Africa indicating an increase of 7.4 per cent over 21.92 MT sold in 2017.

Nigerian operations accounted for 14.18 MT representing an increase of 11.4 per cent over the volume of 12.72 metric tonnes sold during the preceding year. The increase in the Nigerian volume is attributable to higher building activities as the economy recovered from recession. The sales volume in Nigeria was quite significant given the turbulent market situation as the election period approached and people usually hedge in the construction industry during such periods.

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. â&#x20AC;&#x153;Although Pan-African 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;?

Dangote Cement is Africaâ&#x20AC;&#x2122;s leading cement producer with nearly 46metric tonnes per annum (mtpa) capacity across Africa. It is a fully integrated quarry-to-customer producer, with a production capacity of 29.3mtpa in the home market, Nigeria. The Obajana plant in Kogi state, Nigeria, is the largest in Africa with 13.3 mpta of capacity across four lines; Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12 mtpa, while Gboko plant in Benue state has 4 mtpa.

Through recent investments, Dangote Cement has reduced Nigeriaâ&#x20AC;&#x2122;s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries. The company has operations in Cameroon (1.5mtpa clinker grinding), Congo (1.5mtpa), Ghana (1.5mtpa import), Ethiopia (2.5mtpa), Senegal (1.5mtpa), Sierra Leone (0.5Mta import), South Africa (2.8mtpa), Tanzania (3.0mtpa), Zambia (1.5mtpa).

Analystsâ&#x20AC;&#x2122; assessment Looking at the revenue of Dangote Cement, analysts at Afrinvest West Africa said recovery

in volumes supported the growth. According to them, revenues grew faster at 11.9 per cent to N901.2 billion, 1.2 per cent ahead of their estimates.

The analysts explained that unlike the previous year, this performance was mainly driven by a 7.4 per cent increase in volumes to 14.2mtpa, although this was entirely due to Nigerian operations (+11.4 per cent) despite unfavourable weather conditions in third quarter (Q3) of the year. Volume growth was flat for Pan-Africa operations (+0.1 per cent), but higher cement prices (9.5 per cent) supported stronger revenues.

They added that margins were dragged by elevated operating expenses. Cost to sales grew at a slower pace relative to revenue, settling at 9.1 per cent to N383.3 billion, slightly above their estimate by 1.7 per cent. This translated to a lower cost to sales ratio of 42.5 per cent (2017: 43.6 per cent), reflecting improved cost efficiency. â&#x20AC;&#x153;However, the operations expenses(OPEX) margin was higher at 21 per cent (2017: 19.3 per cent), reflecting a broad-based expansion in operating expenses by 22 per cent, which was 6.3 per cent higher than our estimate. The groupâ&#x20AC;&#x2122;s

Although PanAfrican volumes were unchanged in 2018, I am conďŹ dent 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 proďŹ tability in the Pan-Africa region and this will help to improve overall Group margins

earnings before interest tax and depreciation and amortization (EBITDA) expanded by 12.1 per cent to N435.6 billion, broadly in line with our estimates which was 0.7 per cent weaker. However, due to higher OPEX, EBITDA margin marginally moderated to 48.3 per cent (2017: 48.5 per cent), pulled lower by pan-African operations as EBITDA margin for Nigeria remained resilient at 64.3per cent (2017: 65.3%). The groupâ&#x20AC;&#x2122;s net finance costs surprised at 3.7x our expectation mainly due to a significant 76.2% contraction in finance income. Consequently, profit-before-tax expanded only by a marginal 3.9 per cent to N300.8 billion, 10.2 per cent below our estimate,â&#x20AC;? they said.

Afrinvest stated that the biggest boost was seen in profit-after-tax which expanded by 91.1 per cent to N390.3 billion. The investment firm explained that the impressive result was buoyed by tax credits of N89.0 billion, following optimism that the group would secure the approval of the Nigerian Investment Promotion Commission on the two-year extension for Ibese lines 3 & 4 and Obajana line 4, for which taxes had previously been charged. â&#x20AC;&#x153;Due to the marked rise in PAT, earnings per share almost more than doubled to N22.8 from N11.7 in the previous year. Consequently, the Group announced a dividend of N16.0 per share, 52.4 per cent above the previous year and translating to a dividend yield of 8.2 per cent (based on the closing price of N192.5 on 26/2/2019). â&#x20AC;&#x153;Based on this, the pay-out ratio was weaker at 70.1 per cent, compared with an average of 93.5 per cent between 2016 and 2017,â&#x20AC;? they said.

In computing their valuation, the analysts stated that they were optimistic of sustained outperformance in earnings over the mediumterm. â&#x20AC;&#x153;In FY:2019, we expect a 10.4 per cent expansion in revenues to N995 billion, supported by a recovery in volumes in Nigeria and for Pan-African operations. We expect smoother operations in Tanzania due to the recent installation of gas turbines and improved Sub-Sahara Africa (SSA) growth to support pan-African volumes. Given our improved expectation of the groupâ&#x20AC;&#x2122;s performance over the medium-term, we revised our target price slightly upwards to N263.1. This translates to

an upside potential of 34.7 per cent based on the closing share price of N195.3 on 28/02/2019, and we attach a â&#x20AC;&#x153;BUYâ&#x20AC;? rating,â&#x20AC;? they said.

Sectoral improvement Recently, Afrinvest stated that companies in the cement industry have the capacity to deliver higher returns to shareholders going forward. The investment banking firm said although the companies suffered the pains of a slowing economy, there is great improvement. â&#x20AC;&#x153;The steep currency devaluation recorded between 2014 and 2017 led to an increase in costs, given the exposure of energy costs and debt to foreign currency risk. Combined with the moderation in the spending power of consumers, high costs led to a steep increase in cement prices, which in turn affected volumes of cement sold. The implications were a broadbased decline in margins across companies, with overall profitability barely growing over a five-year period,â&#x20AC;? the firm said.

However, it added that in recent times, the cement sector is starting to recover. â&#x20AC;&#x153;Energy costs have been diversified and foreign exchange (FX) risks are now limited. We are optimistic of a recovery in volumes which will boost revenues, and that lower energy costs will support a fast-paced expansion in profitability in 2018. â&#x20AC;&#x153;Over the medium-term, we believe the cement sector remains well placed to deliver superior returns given the wide infrastructure gap in Nigeria. However, we expect the sector to grow at a gradual pace, given the lack of reforms to drive growth back to long-term trend,â&#x20AC;? Afrinvest said.

According to the analysts, based on their measured positive outlook, they believe there is still value in cement companies. â&#x20AC;&#x153;The overall sector is currently priced at a discount with a P/E ratio and EV/EBITDA ratios of 12.5x and 14.0x per cent, which is below the average of 23.1x and 15.9x respectively for select emerging markets and frontier markets peers.

Across companies under our coverage, we have issued â&#x20AC;&#x153;BUYâ&#x20AC;? rating to Dangote Cement and â&#x20AC;&#x153;SELLâ&#x20AC;? to Lafarge. For Cement Company of Northern Nigeria Plc (CCNN), we are waiting on the combined books of the newly merged entity before revising our valuation. Lafarge Africa which had high exposure to foreign currency debt has gotten new debt terms that will ensure lower finance costs and a return to profitability,â&#x20AC;? they said.

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Adeoye: Credit Rating Key to Banksâ&#x20AC;&#x2122; Health The Executive Director Operations, DataPro Limited, Oladele Adeoye, in this interview with Adedayo Adejobi, sheds light on the role of credit rating agencies in defining the health of banks in the country. Excerpts: Why do credit rating agencies exist and what is the objective of a rating agency?

A credit rating agency exists basically to provide opinion. A credit rating agency is an opinion giver. They give opinions about the ability of an organisation or an instrument and possibly a country to be able to meet their obligations as and when due. They tell of how healthy organisations are when it comes to their ability to fulfill their obligations.

What sort of debt is rated and how can credit ratings differ among different tranches of debt for an organisation?

Credit ratings are assigned to issuers, bonds, collateralise debt obligations and structured finance obligations. Credit rating at the issuer level indicates the entityâ&#x20AC;&#x2122;s ability to fulfill its financial obligations, while credit rating at the debt issuance level indicates the credit quality of the specific debt issuance depending on the terms and conditions, legal structure, seniority, priority of repayment, external support, and credit enhancements. The credit ratings are mainly divided between two categories: Investment Grade (BBB and above).

Investment Grade issuers have relatively high level of creditworthiness and credit quality.

Speculative Grade / Non-Investment Grade (BB and below). Speculative Grade issuers have the ability to repay but face significant uncertainties. Regarding the possibilities of an organisation to issue different instruments having rating differentials, ranking of the debts is a key issue. An instrument with preferential treatment in terms of settlement will certainly be notched above a junior ranking instrument. Another factor will be the available credit enhancement. An instrument that is heavily collateralise will have a high recovery prospect in the event of default as against a zero collateral instrument. Similarly, debt instrument that is fully guaranteed will attract better rating than partially guaranteed obligations. These and a few other reasons will result in differences in the ratings of instruments with common Issuer.

When investment banks provide ratings advisory, do they speak with agencies for guidance?

Rating agencies are not allowed to provide consultation or recommendation on the issue to be rated. Investment bankâ&#x20AC;&#x2122;s rating advisory can only ask for clarification on the criteria or report and then come up with his/her own recommendation on which direction the rating agencyâ&#x20AC;&#x2122;s opinion may be headed.

Rating agencies, however, can provide scenario ratings called Rating Evaluation Service (RES).

Investment banks can provide hypothetical scenarios and the Rating Agency can provide a confidential opinion based on each scenario presented.

If you were to do a structural and critical assessment, in your estimation, how healthy are Nigerian ďŹ nancial institutions, especially the banks?

As an analyst, it wouldnâ&#x20AC;&#x2122;t be right to say yes or no, without actually carrying out analysis.

That would mean that I have actually look at all the banks in Nigeria and that is where I come in professionally. We subject a bank to analysis and give opinion, that opinion is represented by a symbol and the symbols tell the state of health of such institution as at that material time. If I havenâ&#x20AC;&#x2122;t subjected that financial institution, bank or industry to that level of analysis it will be unprofessional for me to say Nigerian banks are healthy or unhealthy. So thereâ&#x20AC;&#x2122;s a need for us to carry out a scientific analysis of those entity and our opinion would then be born out of that objective process.

On the premise that your firm services most of these banks and major financial institutions, one would expect that a holistic approach on the understanding of health of Nigerian banks.

The health of the Nigerian banks like every other institution, is largely dependent

countries, as rating agencies have received some level of bashing especially during the global financial crisis. Some compromised on governance issue here and there but with the intervention from global bodies like international organisation for security commission(IOSCO) , best practice measures have been introduced for the adoption of rating agencies and this is what we have adopted in our operations in DataPro. If any case of bias is established against a rating agency in Nigeria, the agency is answerable to the regulatory body, who determines whether their license will hold or be forgone.

Adeoye

on the economy. If we are to benchmark it against what is obtainable in the economy, you will understand that the weakness in the economy is weakness in the banking industry because banks by virtue of what they do, lend to this economy. For instance, if you have a weak oil and gas sector and Nigerian banks become heavily exposed to that sector then you can begin to say on the basis of this, Nigerian banks could be described as weak based on their exposure.

Due to uncertainties in the international market regarding oil pricing, projections regarding profitability and serviceability of obligations by operators could be marred. The pricing of oil is currently above 60 dollars per barrel which is the benchmark for the proposed 2019 budget. Unrestrained exposure of the bank to oil could lead to impairment of their healthy status during adverse movement in the price of the commodity. This scenario played out between 2008 and 2010 when some of our banks were seriously exposed

The health of the Nigerian banks like every other institution, is largely dependent on the economy. If we are to benchmark it against what is obtainable in the economy, you will understand that the weakness in the economy is weakness in the banking industry because banks by virtue of what they do, lend to this economy

to capital markets and oil and gas. It is within that parameter that one can begin to say Nigerian banks are healthy. I want to believe that most banks are going the way of retail today and given the level of credit culture that is coming up, we are yet to see how far that will affect the health of the banks.

But what we have seen in the past is this wholesale lending where we have about 10-20 customers accounting for significant proportion of the bankâ&#x20AC;&#x2122;s loan portfolio. The issue of Governance and compliance also go a long way to determine the health condition of individual bank. A rating agency will not just give assessment until some numbers and issues are given due consideration.

Having understood the role of credit agencies, are there possibilities of the agency being biased in its report?

Let me speak for DataPro. The possibility of being biased is totally out of it and you could glean that from what Iâ&#x20AC;&#x2122;ve said earlier. The parameters, criteria and process are scientific and defined for the purpose of forming that opinion about an entity. And it is only when you look at that particular entity and you benchmark against those criteria that you can come up with an opinion about this particular instrument or entity. Asides that, there are governance issues around the operation, of rating agencies. For an analyst who works in rating agencies, by code of conduct, they are not supposed to be engaged or involved in the rating process in which he/she has substantial interest. I cannot begin to rate an institution in which I have subscribed to a shareholding interest of up to five per cent.

My opinion might not be seen as objective.

Secondly, in terms of the internal structure, a rating analyst is not supposed to be part of the team that will negotiate the cost of the rating itself. Thatâ&#x20AC;&#x2122;s another governance structure that guides the operations of a rating agency. Thirdly, as a rating agency, I cannot provide advisory services on an instrument for which my rating service will be needed. This is not to say that there havenâ&#x20AC;&#x2122;t been issues especially in developed

Analysts say Nigeriaâ&#x20AC;&#x2122;s economy is out of recession, but there appear to be no glaring effects on trade and commerce.

What would be the ideal role of a rating agency in reviving the economy?

Addressing the economy, everyone has their opinion about the economy, but as an analyst, growth is growth. The economy is growing at about two per cent and itâ&#x20AC;&#x2122;s projected to grow around that figure in 2019.

If youâ&#x20AC;&#x2122;re in recession and we now have some measure of growth in the GDP, it therefore implies that youâ&#x20AC;&#x2122;ve recorded some measure of growth. Is this growth matching up to the point that will be ultimately beneficial to us given where we are coming from? maybe thatâ&#x20AC;&#x2122;s the point we need to interrogate. And may be those who are arguing against growth are actually talking about real growth. How well are we growing as an entity if our turnover grew by five per cent, but inflation rate is at 10 per cent, you can say the real growth is a negative one if you test it against that backdrop. If the rate of growth we anticipate is not what we are saying then we might say we are growing but at a very slow pace. So I think thatâ&#x20AC;&#x2122;s where the drivers of the economy need to buckle up and I think the poster boy for that will be non -oil sector of the economy.

I know that government is doing a lot, but it needs to do more in areas of agriculture, mineral sector, poverty alleviation in terms of entrepreneurial initiatives. The role of Credit Rating Agencies in reviving the economy is firstly the role of an opinion giver. How well the opinion impacts also explain further our role within the economy.

Intra-African trade is considered abysmally low against total world trade. Africa is perceived a high risk destination to do business. What would you say accounts for this, and what are ways to mitigate these issues and expand intra-African trade?

It is correct to note that intra-trade in Africa is the least globally. Europe is about 17 per cent, Asia is 51 per cent and Africa is ridiculously around 15 per cent. High tariffs, level of infrastructure and multiple taxation are leading to high cost across the continent. It is reported

by UNCTAD that average tariff for trades in Africa is 8.7 per cent, meanwhile outside the continent is about 2.5 per cent.

Infrastructure challenge is another issue using Nigeria as a study. The length of time it takes to clear goods at our major ports and time taken to get in and out of the port area is a challenge. Today, Apapa gridlock is a reference point for traffic congestion in Nigeria. Multiple taxation is also a serious impediment. You have few taxes that are formal while several others are informal. To move goods from Seme border to Balogun market in Lagos, you will need to make series of payments at every road blocks and corner to all kinds of individuals making one spurious claim or the other. To encourage trade within Africa, critical infrastructures such as port and rail system need to be enhanced. This should be done in addition to the review of tariffs currently in operation across the continent.

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Banking Beyond Borders The United Bank for Africa Group is not only progressively increasing its geographic footprint, but is positioning itself to continue to tap from the swelling flow of trade between Africa and other continents, writes Obinna Chima For banks in Africa, expanding within the continent provides little or no proof against economic shocks that are associated with commodity prices.

This is because almost all countries in the continent are majorly producers of primary products.

This is one of the reasons why financial institutions with eyes on the future, such as the United Bank for Africa Group (UBA) have continued to expand into advanced markets.

For the UBA Group, three weeks after it launched its operations in Mali, the financial institution formally opened its United Kingdom subsidiary in London last weekend.

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.

With the unveiling of the UK subsidiary, the UBA Group further consolidated its position as the first and only Sub-Saharan African financial institution with banking operations in both the UK and the United States, Facilitating trade and capital flows between Africa and the world.

Deepening Africa-Europe Relations Commenting on the feat, 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.

Elumelu explained: â&#x20AC;&#x153;We call UBA, Africaâ&#x20AC;&#x2122;s global bank and we operate in 20 African countries and it 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. â&#x20AC;&#x153;So, as New York is going to sleep, London is waking up and as London is going to sleep, New York is waking up, all to make sure that we continue to support our customers across the globe.â&#x20AC;?

According to him, the enhancement the UBA Groupâ&#x20AC;&#x2122;s business in the UK was timely and mutually beneficial for African and European corporates as well as both governments.

He noted that with the British and other European governments seeking new and improved measures to grow trade relations with Africa, the UBA Group was enthusiastic about its positioning and capabilities in supporting corporates and government institutions to fulfil the lofty aspirations, which he stressed was pertinent for sustainable growth of both continents.

Elumelu, said he was also 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. â&#x20AC;&#x153;One thing that is important to us is helping to link our customers to the financial centers of the world.

London, traditionally is the financial center of the world. To us, we are not just another Nigerian bank operating in the UK, we are Africaâ&#x20AC;&#x2122;s global bank. It is important that we support our customers. â&#x20AC;&#x153;To us at UBA, our service aligns with our customersâ&#x20AC;&#x2122; aspirations and customersâ&#x20AC;&#x2122; needs to grow. As SMEs need to do well, they want

to succeed, they want to do their business and pass it in the right direction. We are here to support. â&#x20AC;&#x153;UBA is about Africaâ&#x20AC;&#x2122;s heritage because in everything we do, it is about how to further help develop our countries. African countries, both francophone, Anglophone and african countries, whatever, we support the business, we support infrastructure, SMEs and now, we are setting up a global financial movement, so, UBA UK is not just a bank,â&#x20AC;? he added.

He pointed out the drive behind the expansion, â&#x20AC;&#x153;is to follow our customers and to continue to support our customers and Africans.â&#x20AC;? â&#x20AC;&#x153;We have been in New York for quite some years. letâ&#x20AC;&#x2122;s see what happens in /china, and other European countries, letâ&#x20AC;&#x2122;s see what happens in other African countries. â&#x20AC;&#x153;We want to help our customers. We want

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

to be around our customers, and we need to help support our customers,â&#x20AC;? he added.

Also, the Group Managing Director/CEO, Mr. Kennedy Uzoka, said the 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. â&#x20AC;&#x153;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;?

According to Uzoka, with its current UK licence, â&#x20AC;&#x153;the bank is like a bird that has been in a cage been disposed.â&#x20AC;? â&#x20AC;&#x153;Our market is defined. We have had customers we have been dealing with for decades and we know them very well. As we say, we know Africa very well like the palm of our hands. â&#x20AC;&#x153;With this expanded licence, those restrictions, frictions that Africa had must be eliminated, so UBA has come to change the landscape right now.â&#x20AC;?

On his part, the CEO, UBA UK, Mr. Patrick Gutmann, said the financial institution is now on a stronger footing, saying the authorisation of the PRA and FCA for an enhanced business model affords the Group the opportunity to swell its 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;? he added.

The President of the Republic of Mali, Mr Ibrahim Aboubacar Keita, recently praised the UBA Group for its vision to continue to expand the bankâ&#x20AC;&#x2122;s footprint to Mali. He also commended

the tenacity and commitment of UBA and its Group Chairman to the development of the continent, calling African financial institutions to follow the developmental philosophy of the bank and its chairman in growing infrastructure, deepening financial inclusion and being catalysts for eradicating poverty in Africa.

Winning Tip for Global Banks For banks wishing to expand into markets across the globe, Deloitte, one of the leading professional services has listed strategy, execution, talent, regulation and capital as factors that must be consider.

For instance, Deloitte which stated this in a report, pointed out that in the area of strategy, the financial institution must understand what market segment it wants to pursue, adding that banks with its eyes on global expansion need to be focused, yet agile enough to adjust their strategies to access and capitalise on anticipated opportunities.

After defining a clear strategy for international expansion, in terms of execution, banks should focus on how they intend to implement their plans.

In the area of infrastructure, it pointed out that having adequate technology and business system remains an essential ingredient for international expansion.

The Deloitte report described talent as one of the most critical resources that such banks would need when expanding into developed countries. â&#x20AC;&#x153;The war of talent that many organisations face in their home markets is even fiercer abroad, where companies for many industries â&#x20AC;&#x201C; not just financial services â&#x20AC;&#x201C; are vying for people who understand the culture, language and business practices,â&#x20AC;? it added.

It also stressed the need to understand the nuances of local regulatory regimes, which is described as another key element for effective international expansion.

Finally, having adequate capital to operate is another condition for international expansion.

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Embracing Life Insurance In this report, Ebere Nwoji takes a look at the relevance of Life insurance in Nigeria, which is still at its developmental stage in the country Life insurance according to insurance experts unarguably holds the future of the growth of the insurance sector in Nigeria, due to its nature as a line of business that affects every body.

But despite its importance, not many Nigerians have life insurance, not even the group life insurance which aside its compulsory status as stipulated by the Pension Reform Act 2004 (amended in 2014), through which different work groups can on their own gather together to secure group life or group accident insurance policy for their members.

Findings showed that one of the factors that scare members of the insuring public away from life policies is the fact that most of the policies mature at death. That is, after a policy holder has spent his or her money to pay the premium for several years, such a person hardly benefits anything while alive, rather the dependents benefit from it.

With this in mind, many people shun life insurance policies.

Another factor that scares people away from purchasing life policy is lack of trust in the insurance operators, that at the maturity of the policy, the insured would get exactly the benefit stipulated in the policy statement.

The common story is that the insured often complain that at the maturity of the policy, the insurance agents that comes to collect his premium would stop coming even before the policy matures either because he or she got another job, which may affect contact with the customer.

Owing to these concerns, some insurers have pledged to redefine life insurance policies by pushing to the market policies that give benefits to the insured while he or she is still existing.

Indeed, some have developed policies that beside benefitting from the policy while still alive, it would help improve their financial well-being especially at during times of economic difficulties.

The insurers have also digitalised their operations in such a way that insurance buyers need not pay any cash to insurance agents.

With this, insurers have to a reasonable extent built confidence in that the insured now deals with the company directly and once his or her policy matures, with the available documents he has, he would go directly to the company for claims.

Efforts to Grow Life Insurance Custodian Life Insurance Limited recently came up with one of such life policies that offer the insured the opportunity of benefiting from the policy while still alive. The company launched a product that would enable the insured conveniently seek for adequate medical treatment at home or abroad without turning himself and his household into public beggars in order to get funds for medical treatment.

The product is known as â&#x20AC;&#x2DC;Custodian Critical Illness Insurance Policy (CCIP).â&#x20AC;&#x2122; The policy is for those suffering from critical and terminal illnesses such as stroke, cancer, heart attack and Renal failures.

The company, which described the product as a stand-alone policy said launching the product was informed by the present economic, health difficulties in Nigeria to assist millions of Nigerians who are victims of the above illnesses address their health challenges.

Currently, the trend in Nigeria is to see people affected by these terminal illnesses write to philanthropists, governments at all levels, civil society and humanitarian organisations through agents or non-governmental organisations, for financial assistance to seek for medical attention outside Nigeria.

The amount often sought for by these unfortunate victims range from N10 million to N20 million. But sad enough, many of them give up the ghost before the money is made available.

For instance, veteran comic-actor Moses Olaiya, better known as Baba Sala, reportedly suffered a stroke and sought help from Nigerians.

Another veteran actor, Sadiq Daba, was also ill went through same situation.

But the Managing Director Custodian Life Insurance, Larry Ademeso said: â&#x20AC;&#x153;Custodian

Life Insurance, in developing the critical illness insurance policy said: â&#x20AC;&#x153;We are well aware of the current economic, health difficulties in our country today for us at custodian insurance, tough times are for us to get tougher and not use the current climate as a negative block but rather an energising spring-board for new ideas. â&#x20AC;&#x153;It is on the back of this that we have launched the critical illness insurance cover which we are confident will assist millions of Nigerians to address their health challenges.â&#x20AC;?

He quoted the World Health Organisation as saying that Nigeria has the highest cancer rate in Africa, while there is increasing precedence of stroke, just as about 10 per cent of adult Nigerian population is liable to have heart attack.

Similarly, Anchor Insurance Company Limited, recently launched its life insurance product tagged: â&#x20AC;&#x2DC;Anchor Loss of Employment Insurance scheme,â&#x20AC;&#x2122; popularly refers to as AnchorLoEIS. The Chairman, Board of Directors, Anchor Insurance Company Limited, Dr. Elijah Akpan, revealed that in launching the product, the company was focused on addressing issues for families all across Nigeria. â&#x20AC;&#x153;We have an opportunity and a responsibility to innovate and create an insurance scheme to protect employeesâ&#x20AC;&#x2122; employment income and in doing so to provide a measure of financial stability to millions of Nigerians who may be laid off in the most difficult economic time. â&#x20AC;&#x153;We have the opportunity and the responsibility as an organisation to provide peace of mind to families who may be left in the

People should be educated not to look at life insurance from the perspective of death.

The beneďŹ t can come at maturity, there is also investment element in it as well as ďŹ nancial protection

ditch without a job and nowhere else to turn to,â&#x20AC;? he stated.

Also Wapic Insurance Plc, recently championed the course of encouraging Nigerians to cultivate good savings culture with its array of SMART Products targeted at not only giving competitive interest rate to consumers but also offering free life insurance cover to savers.

The Managing Director of Wapic Life Insurance, Yinka Adekoya, , explained how savings through the companyâ&#x20AC;&#x2122;s various smart products work . â&#x20AC;&#x153;So hereâ&#x20AC;&#x2122;s how it works; you want to save towards a short term goal, you choose the plan that works for you depending on your need. An account is then created for you and you save monthly. Now for the period of your plan you have life insurance cover!â&#x20AC;?

Speaking in a chat with THISDAY, former General Manager Marketing, African Alliance Insurance Plc, Mr Ikechukwu Emezi, said among all classes of insurance business, life insurance has the brightest future. He, however, said operators are only scratching the surface in terms of product marketing and distribution among Nigerians.

Emezi, who said there are lots of potential in life insurance business in Nigeria, noted that the level of awareness has remained low. This, according to him, accounts for the underdeveloped nature of the business.

He said if Nigerians are aware of what insurance can do in their day to day living and what they stand to gain, they would include insurance expenses especially life insurance in their daily budget. â&#x20AC;&#x153;Awareness, is a major problem, if people are aware of what insurance can do, and the succor insurance can give to them, they will not hesitate to buy insurance. â&#x20AC;&#x153;There are three things involved when one takes life insurance policy: one is either the person dies and the sum assured is given to the beneficiaries, or the policy matures and he takes his benefit. â&#x20AC;&#x153;People should be educated not to look at life insurance from the perspective of death.

The benefit can come at maturity, there is also investment element in it as well as financial protection.

â&#x20AC;&#x153;If you take a life insurance cover and you live up to maturity period, it will be given to you to carry on with your life. So is not only on death, is one product that offers three things in one, there is investment element, there is financial protection opportunity â&#x20AC;&#x153;, he explained.

Given the importance of life insurance and the level of ignorance on the policy, the Executive Director Leadway Assurance, Adetola Adegbayi, recently charged Nigerians to subscribe to what she described as Term Life Assurance products advising that people should form the habit of buying what they cannot save, through term assurance policy.â&#x20AC;&#x2122; Adegbayi stressed that with little premium, people can buy this unique product that has a minimum sum assured of N1 million, urging the middle and low income earners to see the package as an opportunity to enrich their lives.

Using Leadway Term Assurance product, as an example, she said, the plan is a simple but flexible life insurance product that pays out a lump sum if death occurs during the period of cover. â&#x20AC;&#x153;You choose the amount of that lump sum and the length of cover, and your premium is calculated accordingly,â&#x20AC;? she said.

For an additional sum, she said, intending subscriber can extend cover to apply to critical illnesses or becomes permanently disabled because of an accident anywhere in the world. â&#x20AC;&#x153;You can choose to pay your premiums in a way that suits you best: you can pay a single one-off premium, or you can pay monthly, quarterly, half-yearly or annually. The premiums you pay qualifies for tax relief and can therefore, reduce your tax bill,â&#x20AC;? she noted.

According to her, a policyholder has the right to cancel his or her policy and receive a full refund of premiums paid if done within 30 days of receipt of the full policy documentation.

Encouraging Nigerians to key into Term Life Insurance policy, Adegbayi said,â&#x20AC;? â&#x20AC;&#x153;Take a little money to buy a N10 to N15 million. If anything should happen, your family has about N10 Million to fall back to. It takes care of school fees of your children and other financial needs. May be, you can buy N10 Million with N50,000 premium, for example.â&#x20AC;?, she advised.

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LeveragingYouth Passion for Financial Inclusion In this report, Sunday Ehigiator takes a look at efforts by banks to drive financial inclusion leveraging on things that attract the youths The United Nations Population Fund reports that there are 1.8 billion young people between the ages of 10 and 24, with 89 per cent of them residing in less-developed countries in a report released recently.

In 2012, Nigeria introduced the National Financial Inclusion Strategy (NFIS) and promoted it as a key driver in becoming one of the worldâ&#x20AC;&#x2122;s largest economies.

The goal of NFIS is to decrease the number of Nigerians without access to financial services from 46.3 percent to 20 percent by 2020. These developments present an exciting opportunity for young entrepreneurs to participate in the banking system.

Despite being Africaâ&#x20AC;&#x2122;s largest economy, the number of Nigerian adults that have bank account is still low.

One major reason for this is simply that numerous initiatives by financial institutions focus largely on urban centers and major cities in Nigeria.

This is seen more in northern parts of Nigeria, where the percentage of financial exclusion is significantly higher than in the southern or eastern parts of the country. The welfare and general well-being of these youths who are largely unbanked and uninformed regarding finances can be significantly improved via access to banking services such as deposits, savings, loans and secure remittances.

That is why initiatives such as music concerts, fashion shows, food carnivals have now formed a basis for youth engagement by financial institutions.

While this is commendable, one is left wondering if these initiatives are more effective at keeping the youths who are already banked and somewhat knowledgeable about finances in the loop as against bringing those who are unbanked into the banking system.

These initiatives are based on trends and passion points that the youth are currently interested in and love to engage in.

Stanbic IBTC, Access Bank, Guaranty Trust Bank, Diamond Bank, among others, have continued to engage youths via various initiatives leveraging on their passion points.

A good example of such initiatives which lends itself to engagement for participation and inclusion especially amongst youth is the Higher Institutions Football League, Termed HiFL; an annual football competition sponsored by Stanbic IBTC, designed for higher institutions in Nigeria, particularly universities.

It is a football talents competition that stimulate healthy rivalry and engage youth in different locations across Nigeria in the unifying spirit of sportsmanship while enlisting the assistance of a

professional and competent body like National Universities Games Associationâ&#x20AC;&#x2122;s (NUGA) collaboration for seamless coordination. This event provides a unifying platform and vehicle for students of the higher institutions via one of the most popular and followed sports in the world; football.

The event is divided along the Sahel (North) and Coastal (South) conferences. The top 16 universities from 79 NUGA-member institutions play in 30 games over a period of 14 weeks in a return leg elimination style culminating with the Final Four hosted at the Agege Stadium in Lagos with funfair, pump and pageantry.

Sports is one of the best ways to attract youths and coupled with financial knowledge being strategically and tactically disseminated

by Stanbic IBTC Bank staff and its financial services agents who were ever on ground at all the venues throughout the fourteen weeks the tournament lasted. Intangible knowledge on business, finances and a host of other key life lessons was often also learnt and being inculcated in the future leaders.

Interests vary, and the average attention span of a young individual is limited as they have a lot of information to process via a selection of means ranging from TV, radio, social media to virtual reality. Any attempt to get their attention must be creative and innovative, which is what

Stanbic has done with HiFL, engage them via their passion points.

Another of these efforts by financial institutions that are capable of ensuring more youths are brought into the financial net is the Art X Lagos event. This is an important creative enterprise considering that art cuts across all social classes and is one of the ways youths are able to express themselves. Art X gives youths the opportunity to have their craft seen by the world thereby providing them with access to network and learn, regardless of educational or social background.

Since its inception in 2016, over 15,000 people have visited the fair including youths from all over Nigeria. Art X is a private initiative with the backing of Stanbic IBTC and Access bank.

Food and drinks festivals are now a big trend as young individuals are increasingly taking up various interests around food, catering, cocktail mixing, and the likes. Even though professional catering schools have been around for a while now, many more of such are springing up and more parents are now more open to the idea of enabling the children and wards explore their passion in food and drinks as a business. More and more youths are proudly answering the name Chef and it has been discovered that organising food festivals also helps in stimulating and encouraging these young individuals as entrepreneurs and considering starting and

running their small businesses.

This is most likely the reason why Stanbic IBTC sponsored the Eat Drink Festival and Guaranty Trust Bank set up the GTBank food and drink fair.

Remarkably, these food fairs and festivals have not only spawned young food entrepreneurs but also educated them on how to run a business successfully.

Another initiative worthy of note is the recently concluded innovation challenge by Stanbic IBTC which aimed at developing solutions to improve service offerings and delivery through collaborations with a host of young techpreneurs in the digital technology and innovations space.

Also, through its â&#x20AC;&#x2DC;Born in Africa Festivalâ&#x20AC;&#x2122; Access Bank fused music, fashion, arts and film with an aim to draw the attention of the global community to Africaâ&#x20AC;&#x2122;s true culture and lifestyle.

In a bid to positively impact the narrative associated with Africa, Access Bank launched the Born in Africa Festival (BAFEST). The festival leveraged the vehicles of art, music, film and fashion to create an all-encompassing, electrifying event.

The event took place in Lagos last December.

The Group Head, Communications & External Affairs, Access Bank, Amaechi Okobi said through the initiative, â&#x20AC;&#x153;Access Bank is championing a change in the African story that has been told for a long time now because we know there are many wonderful things about this beautiful continent. We also know that once Africaâ&#x20AC;&#x2122;s beauty comes to light, economic empowerment is sure to follow. The Born in Africa Festival highlights the creativity, beauty and contributions that originate not only from Nigeria, but from Africa as a whole.â&#x20AC;?

Also, the GTBank Food And Drink Fair one of the most anticipated food events of Nigeria.

Last year, the financial institution paid attention to opening the Nigerian â&#x20AC;&#x2DC;food marketâ&#x20AC;&#x2122; to huge and diverse consumers while also promoting enterprises in the most appealing way. In addition, the GTBank Fashion Weekend is today the premier consumerfocused event that places African fashion on the global stage and helps small businesses in the local fashion industry thrive.

The Chief Executive Officer and Managing Director of Guaranty Trust Bank, Segun Agbaje, said â&#x20AC;&#x153;Beyond empowering small businesses with the expertise and networks that they need to thrive, the GTBank Fashion Weekend has become a major event in the social calendars of people across the continent and beyond, and as a bank that is passionate about enriching lives, we will continue to drive initiatives that add value to our communities and deliver amazing experiences for our customers.â&#x20AC;?

Nwodo: How Govt Can Plan for Post-oil Economy The President of the Nsukka Professionals Association, Mr. Charles Nwodo Jr, in this interview on the sidelines of its third annual summit held recently in Lagos, proffers recommendations on how the various tiers of governments in Nigeria can reposition their economies to survive the inevitable disruption in the global oil market. Nume Ekeghe presents the excerpts: our country.

Tell us about the Nsukka Professionals Association (NPA)?

The NPA is an association of professionals, businessmen and entrepreneurs from the Nsukka cultural zone of Enugu state. The association is non-partisan, and is totally independent, with singular focus on issues around the progress and accelerated development of the Nsukka cultural zone and all the people from the zone.

What was this summit all about?

This is the third in the series of annual summits organised by the NPA, in line with our self-set mandate to our people and zone.

Each summit focuses attention on key area of critical importance for national or state development. For example, our last summit focused on security threat from cross border migration, which as you know has now become a national issue of critical importance.

Other activities of the NPA, include legislative and social advocacy, social outreaches, such as scholarship awards, mentorship and job placement initiatives, medical outreaches for rural communities, and other initiatives

Nwodo

that represent our humble contribution to the development of our zone, our state and

What was the objective of this summit?

This summit was designed to draw attention of policy makers and political leaders at all levels, to the inevitability of the disruption of the global oil market and expected progressive reduction in the revenue accretion to the federation account. Technological innovation, in the form of electric cars, electric aeroplanes, and growing effort for enforcement of emission control statutes across the world plus of course the expected exhaustion of oil reserves, all point to the great wisdom and urgency for oil producing countries to plan for alternative sources of revenue to supplement or replace oil revenues. Other oil producing countries such as Norway, Saudi Arabia, Qatar and others have proactively launched bold national initiative in this regards. Panelists, made up of respected subject matter experts then proffered tested, concise and practical recommendations which if implemented, will effectively diversify and expand government revenues, so as to position the nation and constituent units for a post oil economic boom.

So what is the next step after this summit, how will your association ensure that the recommendations receive the attentions of governments at all levels?

As you saw, among the participants at this summit were government officials, political leaders and candidates for office in the forthcoming elections. We were deliberate in the profile of the guests we invited for the summit, just as we were in the choice of our speakers. The target stakeholders, who have the responsibility for successful implementation of the summit recommendations were fully in attendance. Beyond this however, the NPA as is our tradition, shall compile the highlights of the proceedings, and generate actionable recommendations, with suggested time lines to be delivered to policy makers, particularly the Governor of Enugu State, Ifeanyi Ugwuanyi. We shall also utilise the social and mainstream media to push the central issues arising from this summit to the awareness of the public, as a way of ensuring that the policy makers pay attention. Obviously this conversation with you journalists is one of such efforts.

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Nedbankâ&#x20AC;&#x2122;s Earnings Grows by 14% Nedbank, one of South Africaâ&#x20AC;&#x2122;s top lenders, said on Tuesday its full-year headline earnings rose by 14.5 percent, driven mostly by its business outside of the country, including once-troubled West African associate Ecobank.

Headline earnings stood at 13.5 billion rand ($950.27 million) for the 12 months to Dec. 31, 2018, resulting in undiluted headline earnings per share (HEPS) of 2,793 cents ($1.97), compared with 2,452 cents a year earlier.

HEPS is the main profit measure in South Africa that strips out certain one-off items.

Earnings at the bankâ&#x20AC;&#x2122;s South African retail operations rose 1.5 percent, where a sluggish economy, declining consumer spending and low consumer and business confidence have hit loan growth.

Nedbank CEO Mike Brown said the lender expected a â&#x20AC;&#x153;slow improvementâ&#x20AC;? this year in business and consumer confidence, and economic and credit growth in South Africa. â&#x20AC;&#x153;These assumptions, along with ongoing delivery on our strategy, support our current guidance for growth in diluted headline earnings per share for 2019 to be at or above

nominal GDP growth,â&#x20AC;? Reuters quoted him to have said in a statement.

Earnings at the lenderâ&#x20AC;&#x2122;s corporate and investment bank - its biggest earnings driver - rose by 6.3 per cent.

But that was slower than an earnings growth of 98.2 percent across its subsidiaries elsewhere in Africa and more than 100 per cent at Ecobank.

Togo-based Ecobank, in which Nedbank has a 21 percent share, is central to Nedbankâ&#x20AC;&#x2122;s expansion on the continent, and after years of hefty losses and governance issues is emerging as a source of fast-growing profits.

It posted 375 million rand in headline earnings last year after making a 975 million rand headline loss in 2017.

Nedbank raised its 2018 dividend by 10.1 percent to 1,415 cents per share and its common equity tier one capital ratio - a measure of banksâ&#x20AC;&#x2122; financial strength - stood at 11.7 percent.

It said in 2019 it expected its net interest margin, which reflects banksâ&#x20AC;&#x2122; profitability, to fall below 2018 levels, and its credit loss ratio to increase slightly.

Sâ&#x20AC;&#x2122;Africaâ&#x20AC;&#x2122;s Private Sector Activity Expands in Feb -PMI Activity in South Africaâ&#x20AC;&#x2122;s private sector expanded for the first time in eight months in February, as output stabilised and new orders fell at a slower pace, a survey showed on Tuesday.

IHS Markitâ&#x20AC;&#x2122;s Purchasing Managersâ&#x20AC;&#x2122; Index (PMI) rose to 50.2 in February from 49.6 in January, breaching the 50 mark that separates expansion

from contraction for the first time since June 2018. â&#x20AC;&#x153;The latest survey showcased the resilience of South African businesses in the midst of repeated setbacks,â&#x20AC;? Reuters quoted IHS Markit economist, to have David Owen. â&#x20AC;&#x153;Output stabilised despite load-shedding from Eskom affecting a number of businesses, while employment grew

as firms tapped into the pool of unemployed workers.â&#x20AC;?

South Africa suffered its worst power cuts in several years in February due to plant-related problems at power utility Eskom, diesel shortages and planned maintenance.

New orders fell in February, IHS Markit said, but the rate of deterioration was the slowest

in eight months of declines.

Despite the improvement in the headline PMI, overall demand was still falling, IHS Markit said. â&#x20AC;&#x153;The return to declining new export orders has dampened businessesâ&#x20AC;&#x2122; spirits somewhat.

Supply chains faltered slightly as well, with some companies reportedly constrained by raw material shortages,â&#x20AC;? said Owen.

Togo Subsidises Off-grid Solar to Extend Electricity Togo began offering subsidies to its citizens to cover the cost of off-grid solar power systems on Friday in a move that if replicated elsewhere in Africa, could help accelerate the adoption of the green technology across the energy-starved continent.

Less than 40 per cent of African households are connected to a national grid, representing a huge underexploited power market. Off-grid power solutions are now aiming to fill that gap, and have begun to attract the attention of large European power utilities. â&#x20AC;&#x153;Access to electricity is a basic need and the government of Togo is committed to achieving 100 percent access for all ... by ensuring that no one is left behind,â&#x20AC;? Reuters quoted Energy Minister, Marc Ably-Bidamon, to have said in a statement with partner company BBOXX. Some 285,000 solar home systems were sold in Africa in the first half of last year alone, according to the latest data from GOGLA, an independent off-grid industry association.

Global revenues from the payas-you-go systems are expected to reach $6 billion to $7 billion by 2022. Such household kits form a cornerstone of Togoâ&#x20AC;&#x2122;s

strategy to bring electricity to all of its nearly 8 million people by 2030.

UK-based BBOXX won a tender to electrify 300,000 Togolese households without access to the national grid.

Franceâ&#x20AC;&#x2122;s EDF Group took a 50-percent stake in BBOXXâ&#x20AC;&#x2122;s Togo operation last year.

A second company, Soleva - a consortium of Aphlion Energy and Wawa Energy Solutions - signed a similar agreement with Togo in August.

Under the programme, the government will issue monthly vouchers to households operating a BBOXX or Soleva system.

The subsidy is meant to cover the relatively hefty price of the hardware, leaving customers to pay only the cost of the energy consumption. â&#x20AC;&#x153;This pioneering initiative is a major stride forward in tackling a key obstacle to achieving universal electrification in Africa â&#x20AC;&#x201C; this being that many customers are still living in poverty,â&#x20AC;? said BBOXX CEO Mansoor Hamayun.

Around 10,000 kits were installed in rural Togo last year.

Another 100,000 households are due to be connected by 2020, and a total of 550,000 by 2030

REWARDING CUSTOMER LOYALTY

L-R: Divisional Head, Electronic Banking, Fidelity Bank Plc, Ifeoma Onibuje; Customer and promo winner, Umoru Amina Jumal and Head, Strategy & Business Transformation, Adetunji Mustapha, at the 4th monthly/second Bi-monthly â&#x20AC;&#x2DC;Get Alert in Millions Season 3â&#x20AC;&#x2122; savings promo prize prresentation ceremony held in Lagos...recently

Botswanaâ&#x20AC;&#x2122;s President Denies $600m Loan to Zimbabwe Botswanaâ&#x20AC;&#x2122;s president has dismissed a report that the country had offered Zimbabwe a $600 million diamond-backed loan and said his government had only offered to guarantee a $100 million private credit line for Botswana companies to invest in their troubled neighbour.

Zimbabweâ&#x20AC;&#x2122;s secretary in the ministry of foreign affairs was quoted in the state-owned Herald newspaper last Tuesday to have said Botswana had offered to lend Zimbabwe $500 million to support its diamond industry and another $100 million for

the local private firms. â&#x20AC;&#x153;I want to clarify these reports that we are giving Zimbabwe hundreds of millions in loans.

That is totally untrue,â&#x20AC;? Reuters quoted Mokgweetsi Masisi to have told reporters in Gaborone, a day after visiting Zimbabwe for business and trade mission. â&#x20AC;&#x153;We are not giving them a single loan. The only thing we gave them yesterday were medical supplies made in Botswana and supplementary feeding worth 2.1 million pula ($197,600).â&#x20AC;?

There is $100 million credit

from private banks in Botswana and Zimbabwe to help Botswana private companies, Masisi added. â&#x20AC;&#x153;What we have demanded, which we are waiting for, is a letter of guarantee from the Zimbabweans to counter our own guarantee,â&#x20AC;? he said. Masisi also said Botswana, which is the largest producer of diamonds by value, would help Zimbabwe with its diamond trade because â&#x20AC;&#x153;it would be useful and strategic for Botswanaâ&#x20AC;? as it aims to become a global centre of diamond trading.

Zimbabweâ&#x20AC;&#x2122;s diamond sector has struggled since the government kicked out private companies from the eastern Marange fields in early 2016 after they declined to merge under the state-owned mining company.

Relations between Zimbabwe and Botswana have improved following a strained period when Botswanaâ&#x20AC;&#x2122;s ex-President Ian Khama, who stepped down in 2018, routinely criticised Zimbabweâ&#x20AC;&#x2122;s Robert Mugabe for holding on to power for too long.

Ali Khalpey said in a statement. â&#x20AC;&#x153;Investors are seeking opportunities that are expected to arise in key African markets, Nigeria is facing several key changes in terms of macro and equity performance, but visibility remains strong on 2019 earnings growth and yields continue to be attractive. â&#x20AC;&#x153;At the same time, opportunities are arising in countries

such as Ethiopia and Rwanda, which are expected to be among the top 10 markets for growth in 2019 thanks to innovative power generation and infrastructure projects. Kenya is making the reforms necessary to boost growth while Ethiopia has appointed a commission to explore opening up a stock exchange and all the needed regulatory frameworks

and structures,â&#x20AC;? Khalpey added.

Commenting on the conference and the role it plays in the Firmâ&#x20AC;&#x2122;s newly entered Nigerian and Kenyan markets, EFG Hermesâ&#x20AC;&#x2122; Head of Frontier Research, Kato Mukuru said: â&#x20AC;&#x153;Since entering Sub-Saharan markets, we were keen to play our traditional role of bridging the gap between global capital and local opportunities.

EFG Hermes Hosts Investor Conference EFG Hermes, one of the leading financial services corporation in Frontier Emerging Markets (FEM) held its 15th annual one-on --one in Dubai recently, under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the Deputy Ruler of Dubai.

With many changes taking place in the global investment

landscape, the 2019 conference was titled: â&#x20AC;&#x153;Navigating the Path to Opportunities.â&#x20AC;?

This yearâ&#x20AC;&#x2122;s saw executives from 21 African companies â&#x20AC;&#x201C; from a total of 186 companies representing 26 countries â&#x20AC;&#x201C; meet directly with more than 520 investors representing 260 institutions and family offices, managing an aggregate $11 trillion in assets

under management. â&#x20AC;&#x153;Year on year, we are witnessing an increased participation of African companies in our flagship conferences. Nigeria in particular saw increased participation at a time when the market is experiencing important changes that will generate new opportunities,â&#x20AC;? Chief Executive Officer of EFG Hermes Frontier,

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EDUCATION â&#x20AC;&#x2DC;Lack of Clear Guidelines, Non-compliance, Taxation Affecting Private Schoolsâ&#x20AC;&#x2122; She is an embodiment of modesty, grace, poise, humility, yet confident. With a career spanning over 35 years in the banking sector, she resigned to take up her long-nursed passion in education.

Roseline Nduka, the Director and Proprietress, Multivariate Nursery and Primary Schools, Citiview Estate, Warewa Ogun State, speaks with Funmi Ogundare and Dayo Adejobi on the unique essence of her establishment and the challenges facing private schools in the country

I

n the last one year, what impact has your school been making on its immediate community?

We are located in an estate Citiview Estate, Warewa, Ogun State and we have our pupils drawn from there as well as from surrounding areas. Our school has impacted through the conduct of our pupils.

The community can attest to children greeting right and showing good behaviour. In the pipeline, we also plan to conduct a free Mathematics clinic for children in our community as our own modest contribution to the community.

How would you categorize your school?

Based on the fact that our school is new in the system, I can say that it is a medium rated school generally, but â&#x20AC;&#x2DC;Aâ&#x20AC;&#x2122; school in our environment going by our facilities and standards.

How do you intend to break new grounds in terms of meeting up with the standard of schools in the same category?

Without sounding immodest, our school is unarguably and unequivocally the best in the axis. To be able to keep up the pace and standard we have set in line with global best practice, we believe in continuous training and development. We will continue to embark on providing quality training for both the management and staff. We will also continuously embark on research for new and modern methods of delivery and facilities.

Considering the fact that everyone seems to be going into the business of establishing schools for the sake of its lucrativeness, what sets yours apart?

I agree that school is a business but our school was established out of passion and zeal to add value to the education system. It was founded with the core mission to apply the results of continuous multivariate analysis. We are a centre of academic excellence, high discipline and moral standards. We produce children with strong and independent character, dignity and self-respect, and to that end, money nor pecuniary gains has never been the driving force, but impactful value to Nigeriaâ&#x20AC;&#x2122;s education system.

What spurred you into the business of education and how passionate are you?

I went into the business of education to fulfil my passion for quality education. I want to see children start right from young age. I was not taught the right way as a child.

My progress was by the special grace of God. I want the grace of God to go with the right approach.

I am so passionate that I will ensure high standards at the detriment of profit by the special grace of God. What do you see as the solution to the proliferation of sub-standard private schools?

Nduka

It is unfortunate that we are in a country where people have to be chased to work with standards and obey rules. The government should continue to provide guidelines that will spell out standards, provide trainings and talk to peoplesâ&#x20AC;&#x2122; consciences to stick to standards. These should be followed by enforcement of standards without compromise.

What do you see as the major challenge facing the private school business?

Lack of adequate and clear guidelines as well as non-compliance lead to proliferation of schools, is a major challenge facing the private school business. Sometimes, parents are unable to distinguish between schools in terms of quality. Also, heavy taxation by the authorities especially for upcoming schools is a challenge.

of curriculum you chose? Whatâ&#x20AC;&#x2122;s special about it?

The Nigerian curriculum is okay for strong academics but we had to combine the British in order for our children to know about the rest of the world and events at early age thereby are set to face the ever changing world.

What is the quality of your work force?

With all humility, we have a strong work force. The list qualification we can accept for employment is National Certificate in Education (NCE), but I am proud to say that currently all our teaching staff are graduates with education qualifications, some with master â&#x20AC;&#x2122;s degree and other specialised education qualifications.

What kind of curriculum does the school run and what has been the impact on its students?

We run a combination of Nigerian and British curriculum. We also adopt the Montessori method of learning for our nursery section.

The impact which we are seeing already is that our children can work independently at their pace.

Also, they can talk on international affairs.

Education all over the world has become digital, how is your school keeping up with the information technology trend?

We are in the forefront; for no one can function effectively in todayâ&#x20AC;&#x2122;s world without technology. Aside from having a well-equipped computer laboratory and qualified staff in charge, we are also in partnership with an Information Technology (IT) company that trains our staff and is in charge of updates on new ideas and innovations in this area.

Why did you choose the kind

Asides academic work, what

other things do you do to create a robust learning experience for your pupils?

We have a wide range of cocurricular activities that children engage in. Some of these include creative arts, music, chess, ballet dance, karate and swimming.

Looking back, what challenges did you face in this one year of existence? Was there any time you felt like giving up?

A lot of challenges has come up during this our short period of existence. The major one being marketing, attracting parents to bring their children to come and experience our school. My aim of putting up the school is to see many children benefit from it but I have never thought of giving up because I have a strong passion for what I am doing and believe it will turn out better in future.

You seem to have a lot of qualities, some of which you have developed in the course of building your career. Which can you say has been largely responsible for your success?

My experience in administration over the years has been the major source. It has helped in staff selection and relationship building both with staff and p a re n t s a s w e l l a s p l a n n i n g a n d allocating resources.

33

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EDUCATION

STEM Education: Total Nigeria Cooperative Sponsors Students to NASA Oluchi Chibuzor Total E&P Cooperative, in collaboration with the National Aeronautics and Space Administration (NASA), Johnson Space Centre in Houston, Texas recently held a week-long experiential learning tour where students were exposed to emerging technologies in astronomy, engineering, presentation, budgeting, neural buoyancy laboratory, designs and lunar habitat studies using the Science, Technology, Engineering and Mathematics (STEM) approach.

The was aimed at ensuring out-of-box thinking by each participant and applying theoretical concept in solving real life scientific problems; understanding innovation and deploying it to commercial usefulness in the society while building confidence and team-work among young adults.

According to the Head, Legal and Compliance, Total E&P Nigeria, Staff Multipurpose Cooperative Society, Henry Hector-Amiwero, STEM is an emerging trend in educating

students in specific disciplines; Science, Technology, Engineering and Mathematics, in an interdisciplinary and applied approach, adding that this spurred his organisation to cover the expenses for selected students to participate in the tour to NASA. He disclosed that the NASA tour included a visit to space vehicle mock up facility, Orion Mission Control, Rocketry build/ swing test and launch, lunar habitat construction, robotics build and competition, tour of the neural buoyancy lab and star ship galaxy. â&#x20AC;&#x153;We handled the trip end to end including obtaining visas, ticketing, airport pick up and drop off, inner-city transport in Houston, travel insurance, chaperone services, which allow them to be exposed to emerging technologies in Astronomy, Engineering, presentation, budgeting, neural buoyancy laboratory, designs and lunar habitat studies using the STEM approach. â&#x20AC;&#x153;Nigerian children can dream of visiting the moon and mars by drawing inspirations from

accomplished Nigerians like Wendy Okolo, who is a Special Emphasis Programmes Manager at Ames and a Research Engineer in the Discovery and Systems Health Technology (DaSH) Area within the Intelligent Systems Division at NASA. â&#x20AC;&#x153;Wendy Okolo, whose dissertation research was in the

area of aircraft formation flight as a fuel-saving method of flight, working in the Computeraided Control Systems Design Laboratory specifically employed alternative trimming mechanisms such as internal fuel transfer and differential thrusting to trim induced aerodynamic moments on the trail aircraft, reduce the

need for the drag-inducing control effector deflections, and increase the benefits of flying in formation,â&#x20AC;? he said.

Asked if the training opportunity will be a continuous process to allow other talented youths across the country to participate, Hector-Amiwero said the cooperative is working to

allow more Nigerians achieve their dreams of visiting NASA. â&#x20AC;&#x153;Interested Nigerians in the tour and other educational tours, can reach Total E&P Cooperative the following emmanuel. adediwura@totalupstreamng. coop, because we want to lay the culture of STEM in Nigeria,â&#x20AC;? he said.

Black History: Stakeholders Canvass Better Understanding among Students Funmi Ogundare The Institute of African and Diasporan Studies, University of Lagos recently held its â&#x20AC;&#x2DC;Black History Monthâ&#x20AC;&#x2122; 2019, where stakeholders stressed the need to ensure that students are familiar with the history of the African-American experience.

This move they said would give them a sense of pride about the black history and culture so that they would better appreciate it.

Speaking at the second anniversary of the programme held with the support of the United States Consulate General, the Director of the institute, Professor Muyiwa Falaiye expressed delight about the programme, saying that black people play an important role in American civilization built during the slave trade. He said Africans need to solve their problems by themselves. â&#x20AC;&#x153;Why havenâ&#x20AC;&#x2122;t we built our own continent on our sweat since the slave trade? We need to begin to solve our problems by ourselves because no one will tell our stories better than us.â&#x20AC;?

According to him, the institute was established to conduct cutting-edge research on black history that will impact black people all over the world; do advocacy that aligns with its programmes that will have a direct impact on the community; as well as teach to ventilate its research.

The Professor of African Socio-political Philosophy, recalled the first time he travelled to the United States in 1997 for his post doc and interacted with a lot of blacks saying, â&#x20AC;&#x153;my life has not remained the same since then I have not left African studies . We need to appreciate the history of the black people and work hard to change our situation of the black history.â&#x20AC;?

The Vice-Chancellor of the

university, Professor Oluwatoyin Ogundipe, who was represented by the Deputy Vice-Chancellor, Development Services, Professor Folashade Ogunsola, described the initiative as very important, saying that â&#x20AC;&#x153;we need to tell our stories and change the narrative. â&#x20AC;&#x153;What comes to mind on what black history has done is to emphasise the achievement of the black man as largely being involved, but not much has been attributed to them. Until we start telling our story and with what we have achieved, there will be a lot to be proud of.â&#x20AC;?

She urged the institute to create a data base of achievement in science and art on the history of the black man, adding that the university will continue to push the frontiers and encourage collaborations.

Ogunsola thanked the consulate for its support, saying â&#x20AC;&#x153;this is the beginning of a long journey together; we should create a data base of achievement in science and art. As we have them on the black history, I will like to see the same for Nigeria.â&#x20AC;?

A Professor of History and Strategic Studies, UNILAG, Olufunke Adeboye said a lot of time, the history of the black man was marked by subjectivities, misunderstandings and misconception that usually creep in. â&#x20AC;&#x153;We find them using comparatively black sources to tell their own stories. We have a lot of black voices that are given recognition in such narratives and at the end of the day, whoever can identify with issues that are raised can derive inspiration to continue before facing the challenges of the future.â&#x20AC;?

In his remarks, the Public Affairs Officer, US Consulate General, Lagos, Mr. Russell Brooks encouraged students to read about the intellectual arguments used to justify slavery and colonialism of the black man.

Kanu, during one of the training sessions with students

Greensprings/Kanu Football Camp to TurnYouthsâ&#x20AC;&#x2122; Football Dream to Reality Parents, whose children are passionate about football and are ready to become the next superstars, now have the chance to register them for the annual Greensprings/Kanu Football Camp, which will take place in Lagos from April 14 to 19, 2019.

The Greensprings/Kanu Football Camp was established in 2012 by Greensprings School, Lagos and Kanu Heart Foundation to enable children between the ages of five and 17 enhance their football skills. During the camp, children get first-class training by coaches from West Bromwich Abion Football Club, UK and Dutch Football Association, Netherlands, supported by coaches from the Lagos State Football Association. The participants also get a lifetime opportunity to receive direct mentoring and coaching from Nigerian football legend, Kanu Nwankwo.

At the end of the five-day football camp, awards are issued to the participants based on their performance at the camp. The grand prize for the camp is an educational scholarship into Greensprings School, which goes to the most promising player.

This yearâ&#x20AC;&#x2122;s edition of the Greensprings/Kanu football camp promises to be more exciting and impactful with top financial institution Union Bank on board as a sponsor. Among other benefits, the bankâ&#x20AC;&#x2122;s support will enable five football loving children from underserved

communities to experience world-class football training and compete for the ultimate prize of an educational scholarship to study at Greensprings School.

According to the organisers, since the inception of the football camp, nine students from underserved communities have been awarded educational scholarships into Greenspring School. â&#x20AC;&#x153;Some of these students have progressed into the Under-15 National Team of Nigeria, while some others have had the opportunity to play in European football clubs.

In return, Greensprings School hopes that when these students become superstars, they will give back to the society through youth empowerment initiatives.â&#x20AC;?

Drills to look forward to at the camp include cone exercises, circle of cone, cut-backs, shooting from a square pass, one-touch shooting, three goal drill, lay-offs, turns, chest control, headers on goal, basic short passes, shuffling passes, stamina drills, tackling, sliding tackle, goalkeeping and other exciting drills.

Other activities include five aside football matches, mentoring sessions, mental stimulation, swimming, playing basketball and basic networking.

In furtherance to its commitment to the development of young African children, Greensprings School introduced the â&#x20AC;&#x2DC;Sponsor-a-Starâ&#x20AC;&#x2122; project to encourage corporate organisations to sponsor children with potential to excel in the game of football.

SFCOBA Honours Benefactors, Commences Hostel Project Uchechukwu Nnaike St. Finbarrâ&#x20AC;&#x2122;s College Old Boys Association (SFCOBA) recently rolled out the drums in honour of its benefactors for their outstanding contributions to the development of the school and raising the profile of the association as a major contributor and partner with the Archdiocese of Lagos on the transformation of the college.

The event coincided with the turning of the sod ceremony for the proposed hostel building at the college.

The 12 benefactors received two awards each, Distinguished Benefactor Award presented by Archbishop Alfred Adewale Martins, and the Distinguished Conqueror and Benefactor Award to admit them as Distinguished Conquerors of SFCOBA by the President of SFCOBA, Adeyinka Bashorun.

The awardees included the Archbishop Emeritus of Lagos, Cardinal Olubunmi Okogie; Group Managing Director, Zenith Bank, Plc, Peter Amangbo; Mr. Tunji Mayaki; the Chairman of Mixta Africa SA, Deji Alli; Mr. Solain Adegboyega Odubumi, among others.

Speaking on the significance of the event, Bashorun stated that the college was hurting with poor infrastructure, low level of student registration, poor academic performance, very low capacity for students in boarding house, among

others.

Consequently, he said the association set these objectives: effective partnership with the school administrator; outstanding infrastructure development; provision of good boarding facility; attainment of excellent academic performance; increase in total student registration for the school to break even; as well as excellent coordination and leadership from a revamped SFCOBA Secretariat. â&#x20AC;&#x153;We approached many for assistance but those who are touched and wanted greatness for SFC and SFCOBA stepped up and became part of the â&#x20AC;&#x2DC;Coalition of the Willingâ&#x20AC;&#x2122; and their efforts have transformed St. Finbarrâ&#x20AC;&#x2122;s College, Akoka and SFCOBA to what it is today.â&#x20AC;?

He expressed delight that the benefactorsâ&#x20AC;&#x2122; contributions have transformed SFC to a â&#x20AC;&#x2DC;college of choiceâ&#x20AC;&#x2122; for parents seeking admission for their children and have increased student population to 540 currently from a meagre 273 three years ago.

Bashorun added that the college is now recording outstanding academic performance with over 90 per cent of its final year students obtaining direct admission into their university of choice. â&#x20AC;&#x153;It has attained a breakeven point this year with its finances and ready for the big growth project, which is the 500 bed new dormitory project, which has been started.â&#x20AC;?

34

T H I S D AY Ëž Í´Ë&#x153; Ͱ͎ͯ͡

Corona School Partners Headmaster Sports Academy for Easter Soccer Camp In a move to promote youth development and empowerment through education and sports, over 300 students are expected to converge on Corona Secondary School, Agbara in April for a sports programme themed â&#x20AC;&#x2DC;Easter Soccer Campâ&#x20AC;&#x2122; being organised by the school, in collaboration with Headmaster Sports Academy Limited under the headship of the renowned ex-Super Eagles international icon, Mutiu Adepoju. Sunday Ehigiator reports

L-R: The Physical and Health Education teacher, Corona Secondary School, Agbara, Oyinlola Eyiomo; former Super Eagles midďŹ elder/Director, Headmaster Sports Academy Limited, Mr. Mutiu Adepoju; Director, Headmaster Sports Academy, Mr. Bola Adebanjo, Principal, Corona Secondary School, Agbara, Mrs. Chinedum Oluwadamilola and sports teacher, swimming coach, Mr. Awuru Joel, during the signing of the MoU between Corona and Headmaster Sports on the forthcoming Easter soccer camp, held at the school premisesâ&#x20AC;Ś recently PHOTO: ETOP UKUTT Next month, Corona Secondary School, Agbara will be hosting over 300 students, mostly youths at its expansive school premises in one of its kind sport fiesta with the theme â&#x20AC;&#x2DC;Easter Soccer Campâ&#x20AC;&#x2122;, in collaboration with Headmaster Sports Academy Limited under the headship of renowned former Super Eagles icon, Mutiu Adepoju. The aim of the collaboration, according to the organiser, is to promote youth development and empowerment through education; to inculcate high moral and ethical values in students within and outside the wall of the classrooms; and to enrich the sports portfolios of all participating youths and students from within and outside the school environment.

In an interview with THISDAY, the Principal, Corona Secondary School, Agbara, Mrs. Chinedum Oluwadamilola revealed that aside the schoolâ&#x20AC;&#x2122;s commitment to always bring out the best from its students, help them stay true to their dreams and follow through their passion, the school agreed to go into the partnership because of Adepojuâ&#x20AC;&#x2122;s personality. â&#x20AC;&#x153;With all his accomplishments in football, he has remained as humble as a dove.

He exhumes good values with a simple lifestyle. He has remained someone that is down to earth and everyone can resonate with. As an embodiment of humility, he has demonstrated that you can achieve a lot without making a lot of noise about it. You can achieve without being in everybodyâ&#x20AC;&#x2122;s face, without being scandalous; and his records are clean. This correlates with our schoolâ&#x20AC;&#x2122;s values and principles. â&#x20AC;&#x153;Mutiu is one of a kind; to have spent so much time in top place football and there was never a time you hear anything scandalous about him, even as a rumour, it is commendable. And this is a typical example of a sports personality we can encourage our students to emulate. As much as we want to expose our children to football, we also want them to learn from someone who has those good values that we resonate with. â&#x20AC;&#x153;And during the camping period, which is only open to youths between the ages of 10 to 17, there is going to be a lot of scouts coming around to watch these boys and luckily, one or more of them could catch their interest. It is an open camp.

Our students would be involved and interested students from other schools.

They are to register through our website, www.coronaschools.org or via www. headmaster.ng with a registration fee as

low as N3,000 and participation fee of N75,000 only. The camp is in two batches.

The first batch will open from April 7 to 12, while the second batch will be from April 22 to 27 with a limited space of 300 students per batch.

Oluwadamilola added: â&#x20AC;&#x153;But the most amazing of all is that the camp is not just going to be all about football, they would be learning moral values, discipline, more on attitudinal dispositions from the officials involved; how to get scholarships to European, Canadian and American universities through sports achievements, even as they interact with other ex-international footballers. So it is an intensive sports clinic and many more.â&#x20AC;?

On the objective of the partnership, she said the management with the approval of the school board â&#x20AC;&#x153;decided to partner with the Headmaster Sports Academy to drive the schoolâ&#x20AC;&#x2122;s educational services in the areas of sports just as many corporate organisations partner with celebrities to drive or market their products; to enrich the sports portfolio of our students with a view to giving them an edge when they are seeking admission through scholarship into foreign universities; to give participants the opportunity to express their talents, improve their skills and become exposed to modern techniques in football. And to enable participants to acquire values such as teamwork, endurance and resilience which they will find useful and applicable to life outside sports.â&#x20AC;?

Highlighting the schoolâ&#x20AC;&#x2122;s achievements, Oluwadamilola said: â&#x20AC;&#x153;Corona School was founded with a mission to provide world-class education to children and to inculcate high moral and ethical values in them as they prepare for a lifelong learning, service and fulfilment. And over the years, the school has stayed true to its dreams by constantly being on top of its game.

Apart from its affiliation with reputable associations such as member, Council of British International School (COBIS); member, Associate of International Schools in Africa (ASIS); member, Association of International School Educators of Nigeria, CSS is the only secondary school in West Africa to get highly coveted accreditation of the New England Association of Schools and Colleges (NEASC). Yet, we are a Nigerian school. In terms of academics, our students have recorded successes both in national and international examinations, of significant and note was the Standardized Aptitude Test (SAT) examinations, where

two of our students scored highest in the whole universe. â&#x20AC;&#x153;This was made possible because as a school, we place high premium on professional development of every cadre of our staff based on identified training needs. We therefore take advantage of annual international and local conferences, workshops and seminars in order to open up vistas of expansion in our teachersâ&#x20AC;&#x2122; professional practice. We are highly committed to regular external accreditation and/ or inspection. Ours is a demonstration of life-long learning and continuing professional development. We always strive to improve on our operational processes from time to time,â&#x20AC;? she stressed.

In his remarks, Adepoju, who is the founde of Headmaster Sports Academy, said he is delighted to be associated with a programme that is centred on improving and invigorating the minds of children in sports, exposing them to the value, ethics and the wonderful world of football. â&#x20AC;&#x153;Our company is a sports, education and tour planning organisation that is established in Nigeria to influence children in sports and other academic activities both locally and internationally. The targeted age group of participants is between seven and 17 years and they are expected to be students.â&#x20AC;?

Speaking on his mission for the forthcoming event, he said his company in partnership with Corona has come up with soccer camp programme that is designed to connect, expose and integrate children into the international world of football. â&#x20AC;&#x153;The youth soccer camp is a section of HSAL, which is established to create the best football experience for children by providing a solid platform in pursuing their football career, providing professional coaches with the required equipment to train them in becoming the best both locally and internationally. â&#x20AC;&#x153;The benefits of this programme would include training by professional coaches including myself and a host of others; vast exposure about the game; standard equipment; good training equipment; and chances to be scouted out by professional clubs by engaging in the international tournament. â&#x20AC;&#x153;Football is an ever growing and evolving platform which has the interest of billions of people worldwide, it is our duties as parents and guardians to contribute and encourage our children in walking this path of greatness so that they can be among the stars,â&#x20AC;? he said.

KEHINDE OMORU www.kayomoru.com

UP MG! â&#x20AC;&#x2DC;PROUD TO BE AN OLD GIRL Ă?Ă?Ă?Ă&#x2DC;Ă&#x17E;Ă&#x2013;ĂŁ Ă&#x2039;Ă? ĂĄĂ? Ă&#x2014;Ă&#x2039;Ă&#x17D;Ă? Ă&#x2039; Ă&#x2013;Ă?Ę° Ă&#x201C;Ă&#x2DC;Ă&#x17E;Ă&#x2122; Ă&#x;Ă&#x153;Ă&#x17E;Ă&#x2039;Ă&#x2013;Ă&#x2039; Ă&#x2122;Ă&#x2019;Ă&#x2039;Ă&#x2014;Ă&#x2014;Ă?Ă&#x17D; Ă&#x2039;ĂŁË&#x153; Ă&#x2039;Ă&#x152;Ă&#x2039;Ë&#x153; Ă&#x2039;Ă&#x2018;Ă&#x2122;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x2122;Ă&#x;Ă&#x153; Ă Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2013;Ă? Ă&#x2018;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă?Ă&#x153;Ă&#x2013;ĂŁ Ă&#x2039;Ă?Ă?Ă?Ă&#x2013;Ă?Ă&#x153;Ă&#x2039;Ă&#x17E;Ă?Ă&#x17D; Ă&#x17E;Ă&#x2122; Ă?Ă&#x2122;Ă Ă?Ă&#x153; Ă&#x17E;Ă&#x2019;Ă? Ă?Ă?ĂĄ ĂŁĂ&#x2039;Ă&#x153;Ă&#x17D;Ă? Ă&#x2013;Ă?Ę° Ă&#x17E;Ă&#x2122; Ă&#x2014;Ă&#x2039;Ă&#x2022;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă?Ă&#x153; Ă&#x2013;Ă?Ę° Ă&#x201C;Ă&#x2DC;Ă&#x17E;Ă&#x2122; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2018;Ă&#x2039;Ă&#x17E;Ă?Ă? Ă&#x2122;Ă? 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Ă&#x2039;Ă?Ă&#x2022;Ă&#x2DC;Ă&#x2122;ĂĄĂ&#x2013;Ă?Ă&#x17D;Ă&#x2018;Ă?Ă&#x17D; Ă&#x17E;Ă&#x2019;Ă?Ă&#x201C;Ă&#x153; Ă&#x2018;Ă&#x153;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; ĂĄĂ&#x2039;Ă&#x2013;Ă&#x2022;Ă?Ă&#x17D; Ă&#x161;Ă&#x2039;Ă?Ă&#x17E;Ë&#x203A; ËŤË&#x; Ă&#x2122;Ă&#x17D; Ă&#x152;Ă&#x2013;Ă?Ă?Ă? ĂŁĂ&#x2122;Ă&#x; Ă&#x2018;Ă&#x201C;Ă&#x153;Ă&#x2013;Ă?ËŹ Ă&#x161;Ă&#x153;Ă&#x2039;ĂŁĂ?Ă&#x153;Ă?Ă&#x;Ă&#x2013;Ă&#x2013;ĂŁ Ă?Ă&#x2039;Ă&#x201C;Ă&#x17D;Ë&#x203A;Ë&#x203A;

Mrs Kehinde Omoru writes from the UK

UK-based Medical Expert Institutes Lecture Series, Scholarship at Edo Poly Adibe Emenyonu in Benin City Impressed with the dedication and focused leadership at the Edo State Polytechnic, Usen, a UK-based medical practitioner, Dr. Yusuf Amuda Garuba, has instituted a lecture series and scholarship scheme at the institutionâ&#x20AC;&#x2122;s Department of Food Technology.

The first edition of the lecture series held on March 5, with the topic â&#x20AC;&#x2DC;The Burden of Food Borne Related Toxicity and Liver Disease in Nigeriaâ&#x20AC;&#x2122; and was delivered by senior lecturer and researcher at Department of Medical Laboratory Science, University of Benin, Dr. Igharo O. G, at the polytechnicâ&#x20AC;&#x2122;s complex in Usen, near Benin City.

Speaking in Benin City, the Rector of the institution, Prof. Abiodun Falodun said the school community is pleased with the growing list of

Nigerians in the diaspora that are looking homeward and contributing to the institutionâ&#x20AC;&#x2122;s growth. â&#x20AC;&#x153;Aside the lecture series and the scholarship for the best graduating student in the Department of Food Technology, Garuba has a standing relationship with the department and would contribute to its growth.

He has also donated some equipment to the schoolâ&#x20AC;&#x2122;s health center. As a medical practitioner, he is willing to contribute his expertise and other forms of support to the polytechnic.â&#x20AC;?

Stating that the institution is poised to contribute meaningfully to societal growth through research and development, he said, â&#x20AC;&#x153;as a polytechnic, we have a mandate to provide practical solutions to problems in society. So, aside the lecture series, we are also engaging in in-depth applied research across different disciplines.â&#x20AC;?

T H I S D AY Ëž Í´Ë&#x153; Ͱ͎ͯ͡

35

International Day of Women in Science: Oando Female Engineers Mentor Female Pupils In commemoration of the 2019 International Day of Women and Girls in Science with the theme â&#x20AC;&#x2DC;Investment in Women in Science for Inclusive Green Growthâ&#x20AC;&#x2122;, Oando PLC, led by a delegation of its female engineers have mentored female pupils in one of the Oando Foundation adopted primary schools, Arch Bishop Taylor Primary School, Victoria Island, on the role and importance of Science, Technology, Engineering and Mathematics (STEM) in the world, why they are passionate about STEM and proud to have built successful careers in it.

The aim of the programme was to provide a platform for the female engineers to engage female pupils towards considering and embracing STEM subjects for a future career in STEM by sharing real life and relatable stories that would inspire the young girls.

In order to achieve full and equal access to, and participation in science for women and girls, and to further achieve gender equality and female empowerment, the United Nations General Assembly adopted a resolution declaring February 11 of every year as the International Day of Women and Girls in Science. According to the United Nations (UN) â&#x20AC;&#x153;a significant gender gap has persisted throughout the years at all levels of STEM disciplines all over the world. Even though women have made tremendous progress towards increasing their participation in higher education, they are still under-represented in these fields.â&#x20AC;?

Globally, less than 30 per cent of researchers worldwide are women.

According to UNESCO data (2014-2016), only around 30 per cent of all female students select STEMrelated fields in higher education. Worldwide, female studentsâ&#x20AC;&#x2122; enrolment is particularly low in ICT (3 per cent), natural science, mathematics and statistics (5 per cent) and in engineering, manufacturing and construction (8 per cent).

In a bid to fight the longstanding biases and gender stereotypes steering girls and women away from science related fields, a cross section of Oandoâ&#x20AC;&#x2122;s female engineers spoke to the pupils on a wide range of STEM related topics such as: Why mathematics and science are important in the real world; opportunities that exist for girls/women in STEM; as well as games and engaging activities intended to stimulate the pupilsâ&#x20AC;&#x2122; interest in the sciences.

Researches from different bodies are singular in their belief that there is little to no difference between boysâ&#x20AC;&#x2122; and girlsâ&#x20AC;&#x2122; average

ability in STEM subjects, however girls are still lagging behind boys in studying and in a career in STEM. In order to attract more girls to aspire to STEM careers, experts suggest the need to encourage young women through mentorship programmes, creating an enabling environment and profiling women in science as role models. Such initiatives can inspire and encourage young women and girls to become more confident in their capabilities and can serve to empower aspiring and early career women scientists.

The lack of female interest in STEM related professions was reinforced during the mentorship session, where 95 per cent of the mentees when asked what they aspired to be in future chose arts and humanities related professions, while only a meagre 5 per cent chose STEM-related professions. However, after an invigorating day filled with activities aimed at rousing their interest in STEM, the girls were asked the same question and there was a remarkable 35 per cent increase in the number of girls interested in STEMrelated professions.

One of the mentors, the Principal Reservoir Engineer, Oando Energy Resources, Seun Solanke advised the girls to be proactive in their research into STEM-related careers.

She also spoke extensively on what motivated her to a career in the sciences.

The Project Planning and Controls Engineer, Oando, Lolade Shebanjo said: â&#x20AC;&#x153;I felt fortunate to be surrounded by future female scientists. I was reminded of the fact that when you wear a helmet, it doesnâ&#x20AC;&#x2122;t matter if you are a woman or a man; your mission is to keep achieving.â&#x20AC;?

Also, the Project Document Comptroller, Oando, Abimbola Otulayo said: â&#x20AC;&#x153;It was awe-inspiring seeing the little girlsâ&#x20AC;&#x2122; faces light up with attentiveness and interest during the sessions.

I am definitely inspired to do more to help the youth of Nigeria.â&#x20AC;?

Through its independent charity, Oando Foundation, Oando is setting the pace for other corporates by adopting dilapidated public primary schools across the country; carrying out infrastructural upgrade in these schools; training teachers and establishing digital learning (ICT) centres to promote STEM, aimed at creating a more conducive learning environment and improving learning outcomes for pupils.

To date, Oando Foundation has established 46 ICT centres in its adopted schools impacting over 45,000 pupils; a deliberate attempt to encourage an interest in technology and science from an early age because innovative

Some female engineers at Oando PLC during a mentoring session organised for female pupils of Arch Bishop Taylor Primary School, Victoria Island, Lagosâ&#x20AC;Ś recently technology would not be possible without scientific research.

Speaking during the event, the Programme Manager, Oando Foundation, Tonia Uduimoh emphasised the need for girls to embrace STEM at an early age. â&#x20AC;&#x153;It is pertinent for young girls to understand that STEM subjects and careers are not for a select few; that with hard work and a real desire they too can excel in subjects that will enable them build successful careers in STEM. Globally, it is estimated that the percentage of young girls enrolling in STEM-related courses is relatively low compared to their male counterparts.

The resultant effect of this becomes evident with fewer women pursuing long-term careers in STEM.â&#x20AC;?

Women make up over 50 per cent of the population of Africa and form the majority of the work

force in most African countries. However, women account for only 30 per cent of the workforce in STEM fields in sub-Saharan Africa. The presence of women in STEM careers is essential to ensure the continent realizes its full potential of innovative solutions to Africaâ&#x20AC;&#x2122;s developmental challenges.

February 11 serves as an opportunity for African countries, Nigeria included to reflect on the importance of science and technology to the development of the continent.

Science-related fields are critical to developing national economies, unfortunately, most countries are yet to achieve gender equality in STEM. To bridge this gap Uduimoh said: â&#x20AC;&#x153;At Oando Foundation, we are committed to changing the narrative, particularly for young girls in our adopted schools. We are achieving this through various initiatives such as the digital

literacy component of our Adopt-a-School programme that provides solar-powered ICT centres for effective curriculum deployment in schools; the Girls Code Club that is empowering young girls with technology skills through creativity and learning, among others.â&#x20AC;?

Speaking on the initiative, the Head, Corporate Communications, Oando, Alero Balogun said: â&#x20AC;&#x153;When barriers to the participation of women and girls in STEM fields are removed, women do better, countries do better, and the world does better. To ensure more female participation in STEM, we need to create an enabling environment for them, starting from the primary level of education where their interest can be piqued at a very young age and they can then be gradually and intentionally steered into STEM careers. â&#x20AC;&#x153;For us at Oando, we didnâ&#x20AC;&#x2122;t want today to just be

another international day; we wanted it to be a day that we could proudly say we contributed our quota no matter how small to changing the way girls think about STEM.â&#x20AC;?

In a joint statement, the Director-General of UNESCO, Audrey Azoulay and the Executive Director of UN Women, Ms. Phumzile Mlambo-Ngcuka said: â&#x20AC;&#x153;Young women scientists are already making a difference in the fight against climate change, including South-African teenager Kiara Nirghin, whose inventions minimize the impact of droughts. By harnessing the creativity and innovation of all women and girls in science, and properly investing in inclusive STEM education, research and development and STI ecosystems, we have an unprecedented opportunity to leverage the potential of the Fourth Industrial Revolution to benefit society.â&#x20AC;?

FSTC Principal Harps on Sports for National Devt Uchechukwu Nnaike

The Principal, Federal Science and Technical College (FSTC), Yaba, Lagos, Dr. Ogochukwu Ufoegbune, has stressed the importance of sports to national development, saying that sports can improve the countryâ&#x20AC;&#x2122;s economy and revenue base.

Speaking at the 48th annual inter-house sports competition of the school at the weekend, she said the country has long depended on oil as the only source of revenue generation and that there is need to diversify and a good area to diversify into is sports.

Apart from the economy, Ufoegbune said sports

also helps students to perform better academically as it relaxes the body and when the body is relaxed, students will absorb better when they read.

She added that the sporting activities will impact positively in the studentsâ&#x20AC;&#x2122; health and social interaction. â&#x20AC;&#x153;Irrespective of our status, age or academic class, our health must be adequately enhanced through engaging in physical activities and this programme affords us that opportunity.â&#x20AC;?

As a school focussed on grooming well-rounded students, she said students are allowed to experience all areas of life, including sports so that those who are good in sports can make a career out of it.

While urging the participating students to compete fair and square and to work together as a team, she implored the judges to be fair and firm in their judgement.

In his remarks, the Permanent Secretary, Federal Ministry of Education, Sonny Echono, who was represented by the Director, Basic and Secondary Education, Dr. Lami Amodu, stressed the importance of winning clean, and appealed to the students not to succumb to the pressure to cheat or engage in the use of any substance expected to enhance performance.

On her part, Amodu stated that sports is good for everyone because its makes the mind focussed

and can help one to avoid getting bogged down by negative thoughts. â&#x20AC;&#x153;As your strength, skills and stamina increase through active involvement in sports, so also your image and confidence can improve through sports. As for the students, they become strong and very confident that they can also do things.â&#x20AC;?

The students, grouped into four houses- Yellow, Blue, Green and Red Houses- competed in events activities like 100m, 200m and 400m races, shuttle relay, high jump, school relay, tug of war, among others. High points of the event were the colourful marchpast and calisthenics display.

36

T H I S D AY Ëž Í´Ë&#x153; Ͱ͎ͯ͡

CITYSTRINGS

Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x161; Ă?Ă&#x2039;Ă&#x17E;Ă&#x;Ă&#x153;Ă?Ă? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153;Ë? Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă? äĂ?Ă&#x2122;Ă&#x152;Ă&#x201C; Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă?Ë&#x203A;Ă?äĂ?Ă&#x2122;Ă&#x152;Ă&#x201C;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;Ë&#x153; Í&#x2018;Í&#x2122;Í&#x2019;Í&#x2013;Í&#x201C;Í&#x201C;Í&#x2013;Í&#x201C;Í&#x201D;Í&#x201C;Í&#x2013;

Benevolent Cause for Humanity Olawale Ajimotokan writes on the benevolence of the 2005 Sakharov Prize winner and Harvard visiting professor of law, who shipped items donated by a Boston community for the less-privileged

Prof Hauwa Ibrahim with the French President, Emmanuel Macron, at the launch of Parisbased Global Information and Democracy Commission in Paris

A

dvocacy and philanthropy are the dominant features in the DNA of Hauwa Ibrahim, who teaches law in top institutions in Europe and the United States.

She embraced prominence as the attorney of three women, tried for fornication and adultery under the new, but controversial Shariah law, introduced in Northern Nigeria in 1999.

The cases involved Bariya Magazu in Zamfara State, Safiya Husayn in Sokoto State and Amina Lawal in Zamfara State. Two of them were sentenced to death by stoning, except Magazu, whose conviction was commuted to public flogging.

Ibrahim became a legal activist and a reference point on the practice of Shariah law by virtue of those cases. In 2005, the European Parliament recognised her human rights advocacy and awarded her the Sakharov Prize for the Freedom of Thought. The monetary reward for the award was â&#x201A;Ź100,000.

The prize enabled her to visit over 70 countries and speak globally. The Nigerian is a Radcliffe Fellow and is presently at Harvard Divinity School in Boston, Massachusetts.

Ibrahim hails from Hinnah, Gombe State.

She allowed THISDAY an unobstructed peep into her humble beginnings, when she brought items she distributed to people afflicted by poverty in Nigeria.

Among the items were bicycles, orthopaedic mattresses, beddings, shoes, toys, boxes, bags, Jeans, pencils, socks, clothes, barbeque grills, furniture, mosquito repellent, basket balls, American football and a car.

The car- a Sport Utility Vehicle (SUV) Chevrolet brand came with four brand new tyres. It was donated by an American couple-Suzzy and Emma Carl.

The shipment, brought in a 40 by 40 feet container, was courtesy of the residents of Lincoln in Boston. The community is inhabited by roughly 5,000 people.

In a riveting account, Ibrahim described herself as a child of accident. She said it was this accidental existence of life that has remained her substance. â&#x20AC;&#x153;I was an orphan. I acquired education by accident. I also became a lawyer by accident and I am teaching at Harvard University in the United States by accident,â&#x20AC;? She declared.

She was born and raised into a household that could not afford three square meals a day. Her family farmed food crops and reared livestock, which were exchanged in the market for other products.

â&#x20AC;&#x153;We had practically nothing in my village.

If we had green we exchanged for another green. We sold our goods and got in return something else.â&#x20AC;? She admitted. â&#x20AC;&#x153;I grew up not having three square meals in my house. But I regret nothing, if I come back to this world, I want to come back to my same family and the same villageâ&#x20AC;?.

In her Hinnah community, girls were forbidden from school because the first girl that went to school became pregnant. Her older sister, Aisha Ibrahim, now Aisha Magaji, was the first woman to go to a college. She did under a disguise perfected by her mother, who took her out of the council on the pretext she was going to the village to see her parents. Young Hauwa was also incorporated and was able to attend primary school.

By her admission, she neither learned English language in the primary school nor in any other form.

She developed her skills by hearing people speak English and adding it to her small vocabulary.

When she finally found herself at the University of Jos, she did not have the requisite result for admission. Instead, she was on the sub-supplementary list for the remedial programme and was only considered because she was from a catchment area of Gombe State.

The requirement into the remedial course was a pass in English. She, however, barely passed the subject by guesswork, ultimately enabling her to gain admission into the law programme at Jos. â&#x20AC;&#x153;I wanted to do something with education but everybody was filling the form to read Law. I had never met a lawyer and I didnâ&#x20AC;&#x2122;t know what law would be used for, so I said why not me too. I ended up filling up the form to read law. I was in Jos for five years and graduated in 1989. I went to the Law School in Lagos and became a lawyer.â&#x20AC;? She said.

Afterwards, she enrolled in the Police but her uncle objected and convinced her to join the Bauchi State Ministry of Justice.

For seven years, she worked as a state counsel under the Attorney General and Commissioner for Justice, Mohammed Abdulahi Abubakar, who incidentally is the current Governor of Bauchi State. In 1996, she left on her own to start a private legal practice in Bauchi, the first female from the area to have a legal firm.

For two years her practice stalled as she had no clients. Her plight was not helped by the apathy of people in Northern Nigeria to female attorneys. But while in Bauchi, she decided to run a Women and Children clinic pro bono

Kannywood Actor,Abubakar Garba, stands by some of the donated items for women subjected to domestic violence.

She was in Abuja from 1998-1999 when Shariah was introduced in Zamfara. While doing a case in Bauchi, a woman called Asmau, drew her attention to a difficult case, which she wanted a woman lawyer to handle.

Through the new acquaintance, she was linked with Baobab, which sought her help in the Baria Magazu case. When she did subsequent cases of Safiya Husayn and Amina Lawal, they attracted global attention about women sentenced to death by stoning under the new Shariah code. She did those litigation without receiving a dime.

Although the coverage made her practice known, a fatwa was placed on her head by some extremists, who felt she should be killed for maligning Islam and Shariah.

In 2003, she left for the US for further studies and in part to protect her life that was constantly under threat. A year later, with a Masters in Law, she joined the University of Abuja and was teaching the Nigerian Legal System, in collaboration with Dr Alex Izinyon (SAN), who was her senior.

After her Sakharov Prize in 2005, the Saint Louis University School of Law invited her to the USA. And three years later, Harvard also offered her the opportunity to teach at one of the worldâ&#x20AC;&#x2122;s Ivy League institutions.

She has been in the US since teaching at both the Human Rights Programme and the Islamic Legal Studies Programme at Harvard.

Her research on human rights for women led to the writing of the book: Practicing Shariah Law: Seven Strategies for Achieving Justice in Shariah Courts, published in 2013.

Years after defending women rights, Ibrahim pursued the act of giving to the poor after the Nigerian government invited her on two occasions to help in resolving contending social issues.

President Goodluck Jonathan extended the first of those invitations in 2014, to help in the investigation of the 276 schoolgirls that went missing after Boko Haram raided their hostel in Chibok, Bornu State.

Three years later, Acting President Yemi Osinbajo also invited her on issues of security and human rights abuse preferred against the Armed Forces by the Amnesty International in The Hague.

While in Jordan in 2014 and following the abduction of Chibok girls, she started a project, Mothers Without Border, to keep youths from violent extremism. â&#x20AC;&#x153;When I returned in 2014, I felt the Chibok girls shared the same things with me. The

difference between us is very thin: education. I bought into it because I wanted to do something, but I did not know what I wanted to do. When I was summoned by Prof Osinbajo, I saw the same me I saw in 2014 but this time I said to myself I want to do somethingâ&#x20AC;?. She recalled.

Ultimately, the idea crystalised when she returned to Boston. She convinced her bosses that kitchen utensils and other items that had not been used for two weeks, with the exception of winter clothes, must be discarded as they had become superfluous.

All of a sudden, the slogan, â&#x20AC;&#x153;If you donâ&#x20AC;&#x2122;t use something for two weeks, you donâ&#x20AC;&#x2122;t need itâ&#x20AC;?, became the catch phrase. Almost everyone in Lincoln joined the bandwagon by donating items. Some even brought their best, including brand new things. Even $300 was starched in one of the bags.

Three persons- Diana Smith, Tuker Colsen and Isabella Hepel-put the information together in the town newspaper.

When the donations arrived, they came in a deluge that Ibrahimâ&#x20AC;&#x2122;s three garages were filled to the seams with stuffs. And when there were no more spaces, she put up a notice, telling people she could no longer accept the donations.

Incidentally at that period, her friend Hajia Aisha Mohammed, who retired recently as a Deputy Clerk at the National Assembly, was in Harvard in 2015 attending a programme.

The two women hatched the idea to bring the presents to Nigeria and give the needy.

The consignment was bundled into a 40 feet long container, shipped from Boston to Apapa and transported by land to Abuja. â&#x20AC;&#x153;My target is to give those items to the people that have never been given with anything and they will find those things useful. And from my own background, I know those people exist and those are the people I want to reachâ&#x20AC;?.

Ibrahim insisted.

She collaborated with Kannywood actors and producers, notably Abubakar Garba, to help in distributing the items to the impoverished people in parts of Northern Nigeria.

The items are puts in bags and distributed in batches through a network of people she trusted would pass them to the intended recipients.

Ibrahim also swore there is no political agenda behind her initiative, adding she has no iota of politics running in her system. â&#x20AC;&#x153;I just want to do a humanitarian service before I return to America. My prayer also is that the Boko Haram and all this insurgency should stop. I want to do something and put a smile on someoneâ&#x20AC;&#x2122;s face for a dayâ&#x20AC;?.

37

T H I S D AY Ëž Í´Ë&#x153; Ͱ͎ͯ͡

CRIME&SECURITY

Revisiting the Forceful Dismissal of 38 Military OfďŹ cers The Network on Police Reform in Nigeria has tasked President Muhammadu Buhari to exhibit integrity on the compulsory retirement of 38 senior military officers in 2016 and the continued disdain for several court rulings mandating the military to reinstate and give the dismissed officers fair hearing. Sunday Ehigiator reports

Barr. Abdul Muhammed counsel to Army 38

S

ince the announcement in June 2016, that 38 senior army officers were retired on charges of professional corruption bordering on their involvement in the 2015 General elections and the Arms Procurement fraud, amidst other charges tagged â&#x20AC;&#x2DC;Service Exigenciesâ&#x20AC;&#x2122; by the Chief of Army Staff, Lieutenant General Tukur Buratai, it is worthy of note that despite the court, and senateâ&#x20AC;&#x2122;s request that the senior officers, who are now 37, following the demise of Lt. Col Baba-Ochankpa, be reinstated, the army remains adamant to the requests.

Petitions to FG Revisiting the matter, the National Coordinator of Network on Police Reform in Nigeria (NOPRIN), Mr Ikechukwu Nwanguma, in a recent press conference opined that the senior officers were wrongfully dismissed by way of compulsory retirement and have been subjected to a deliberate pattern of abuse; including denial of access to administrative procedures for seeking redress.

According to him, â&#x20AC;&#x153;the senior army officers have written petitions to Mr. President, individually and collectively, seeking his intervention for justice but the president has till date yet to acknowledge any of their petitions, let alone take any step to ensure justice. This puts a huge question mark on Mr. Presidentâ&#x20AC;&#x2122;s self-acclaimed integrity and commitment to justice. â&#x20AC;&#x153;There was no factual basis whatsoever for the punishment meted to the army 38 by way of their purported compulsory retirement and subsequent false narrative to the media that the affected officers were corrupt.â&#x20AC;?

Allegations of Illegality According for NOPRIN, the purported compulsory retirement of the army 38 by the Army Council was illegal and constitutes an abuse of office as the Army Council does not have the powers to punish any officer.

He said: â&#x20AC;&#x153;The powers of the Army Council in relation to discipline of personnel are limited to only a confirmation authority of punishment awarded by a duly constituted Court Martial. None of the army 38 was ever queried, charged or tried by a court martial at any time and therefore the Army Council is in no position to sit over any disciplinary matter pertaining to any of the 38 Officers. The purported punishment of the

Chief of Army StaďŹ&#x20AC;, Lieutenant General Tukur Buratai army 38 by way of compulsory retirement without giving any of them the opportunity to defend themselves against any allegation is against the principles of natural justice and fair hearing. â&#x20AC;&#x153;Many of the affected officers approached the National Industrial Court to seek justice.

Interestingly, the army authorities have been unable to indicate any offence against any of the officers in the on-going cases except during the Senate Committee Hearing on Col Ukoha's case when the Director Nigerian Army Legal Department asserted that the reason for the senior officer's retirement came from outside the service, and for which he was not given a fair hearing but rather embarked on delay tactics to drag the process. â&#x20AC;&#x153;The findings of the respective chambers of the National Assembly and the court in the determined case shows that the action of the military authorities in the case of the Army 38 was unlawful and an arbitrary act indicative of gross abuse of office by the troika of Hon Minister of Defence, Chief of Defence Staff and Chief of Army Staff.â&#x20AC;?

by the Nigeria Army with respect to these wrongful and illegal dismissals. â&#x20AC;&#x153;In fact, records of the army will confirm that some of these 38 retired officers were actually in the frontline of North Eastern operations waging war against terror, which earned them official commendations and accolades for their exploits, as against the narrative of participating in election duties.

Several others in the list of petitioners were on army posting outside the shores of Nigeria during the period of the general elections, as well as during the entire periods that the relevant panels were sitting in Kaduna and at Abuja. â&#x20AC;&#x153;The report with respect to Arms Procurement was completed and published in December 2016, which was six months after these officers had been dismissed based on involvement in Arms Procurement saga. The panel on Arms Procurement never indicted any of these 38 officers and some of those serving officers that were recommended for further investigation are still serving in the army and have continued to enjoy their promotion and privileges.â&#x20AC;?

DeďŹ ance of Court Order Nwangwuma lamented that despite several court orders, the army has only shown defiance. He said: â&#x20AC;&#x153;Despite the court order and pronouncement of the respective chambers of the National Assembly for the immediate re-instatement of these affected officers, the military authorities have ignored and continued in their deliberate pattern of abuse targeted at these fine gentlemen. â&#x20AC;&#x153;NOPRIN therefore, joins well-meaning citizens and groups in the country who are truly committed to justice and the rule of law to call on the president to prove his integrity and sense of justice by reviewing the arbitrary, unjust and unwarranted punishment meted to the army 38 by the army authorities.â&#x20AC;?

Cry for Justice He further revealed that one of the officers died in the course of pursuing for justice.

He said: â&#x20AC;&#x153;Within the first year of persistent abuse and denial of justice to the 38 retired officers, one of them, Lt Col Baba-Ochankpa died. This gallant officer died literally of a broken heart. They are crying for justice as promised to Nigerians by this administration.

The widow of Lt. Col Baba-Ochankpa (Mrs. Ruth Baba-Ochanpka) deserves justice. The children of the late Lt Col Baba- Ochanpka, Master Joshua Baba â&#x20AC;&#x201C; Ochankpa, Miss Esther Baba-Ochankpa and Miss Abigail Baba-Ochankpa deserve justice. â&#x20AC;&#x153;They deserve better than what the Nigerian Army has allowed them to be subjected to.

These beautiful children deserve to remove the stain that the present Army leadership has put on the memory of late Lt Col Baba-Ochanpka and just as important, the Nigerian Military certainly does not deserve a leadership that will not allow our men and women who are serving their fatherland the fullest protection of the Nigerian constitution and our laws.â&#x20AC;?

Challenging the Status Quo Adding his voice with NOPRIN, counsel to the affected officers, Mr Abdul Mohammed added that â&#x20AC;&#x153;after the very public dismissal of the 38 officers, the Minister of Defense and the Chief of Army Staff went to the media with the narrative that they were professionally corrupt and that these officers were punished after due process. These are untrue statements because the dismissed officers are innocent and there was a complete failure to follow the processes laid down

Appeal to the President In his appeal he said: â&#x20AC;&#x153;In the second year into this injustice, I again petitioned President Muhammadu Buhari for the

unlawful disengagement from service of the officers. I reminded the president that for two years the affected officers have repeatedly requested the Nigeria Army leadership to state the offences which gave rise to the punishment, but that the army leadership has not been able to state the specific offence.

The only explanation they have been given was that the punishment came â&#x20AC;&#x2DC;from aboveâ&#x20AC;&#x2122;, signifying that President Buhari ordered for the punishment and or retirement of the 38 army officers. However, none of these officers has ever had any personal interactions with Mr. President to warrant a decision by the Commander-in-Chief to punish them and without recourse to due process at that. â&#x20AC;&#x153;Mr. President, you have put out a reputation of being a man of justice, dignity and integrity but you have yet to prove it to all Nigerians in the case of these innocent 38 army officers. In the past three years, grave injustice has been meted to these innocent officers, and in spite of repeated passionate letters of redress to you as their Commanderin-Chief, you have been curiously silent. â&#x20AC;&#x153;You have also ignored the resolutions of both the Senate and the House of Representatives which have given hearings to petitions of members of the Army 38. The Senate and House of Representatives, through their respective Public Petition Committees after their respective investigations of the matter had admonished the Nigerian Army over arbitrary disengagement of officers, as this action would discourage serving officers and soldiers from giving their full commitment to the service of the nation. â&#x20AC;&#x153;Both chambers of the National Assembly have recommended immediate reinstatement of the officers as they were found to have done no wrong. Yet you are yet to review the lingering injustice that has been perpetuated by the army leadership against these innocent officers. Nigeria as a country must not risk letting go the caliber of experience of these 38 officers put together. â&#x20AC;&#x153;We believe so much in the integrity of Mr. President, and we are calling on him once again to please look into this case and let Justice take its full cause and the rule of law be obeyed. The affected officers are all bread winners to their families and demand for a proper trial and fair hearing. We believed they are wrongly framed and used as a scape goat while the actual perpetrators are still in the military enjoying all the benefits.

They must be fished out and made to face the law.â&#x20AC;?

38

T H I S D AY Ëž Í´Ë&#x153; 2019

BUSINESS/MONEYGUIDE

RenCap: 80%Adult Literacy Required for Nigeriaâ&#x20AC;&#x2122;s Economic Diversification Obinna Chima For Nigeria to effectively diversify its economy, the country must accelerate the rise of adult literacy, aiming for at least 80 per cent as soon as possible.

The Global Chief Economist at Renaissance Capital (RenCap), Charlie Robertson, stated this in the report made available to THISDAY yesterday.

Robertson, also suggested that in order to ensure that the north is not left behind, Nigeria would need to enact an adult education campaign, similar in scale and impact to that pursued by South Korea in the 1950s.

According to him, diversification requires industrialisation, which he defined as a manufacturing sector of 20 per cent of Gross Domestic Product (GDP).

Robertson, noted that a big expansion in high productivity services would achieve the same end, of escaping poverty.

He explained that the reason Nigeria displaced India as the country with the most people in poverty was because India met the three pre-conditions - electricity, adult literacy and investment - to escape from subsistence farming, while

Nigeria has not. â&#x20AC;&#x153;On basic adult literacy (in any language), Nigeria has made huge improvements since winning independence from the UK in 1960. â&#x20AC;&#x153;But it still took Nigeria over a generation before it could more than double the adult literacy rate to the 40%+ levels at which growth can be sustainable. â&#x20AC;&#x153;The good news is that in 2019, there are already 65 million literate adults. So there are many states, mostly in the south such as Lagos or Abia, where industrialisation can happen.â&#x20AC;&#x153;The bad news is that this will leave the north behind and widen the economic inequality within Nigeria. In some states of Northern Nigeria, a malaria survey that conducted an adult literacy test (in local languages or English) showed adult female literacy was below 10 per cent.â&#x20AC;?

However, he pointed that electricity is also key for industrialisation, saying even 100 per cent adult literacy would not allow an escape from poverty if there is no reliable supply of electricity to power a factory or office computer. â&#x20AC;&#x153;Nigeriaâ&#x20AC;&#x2122;s privatisation process has failed to deliver enough power to diversify the economy, and the distribution companies say this is because the electricity tariffs have not been

raised as promised at the time of privatisation. â&#x20AC;&#x153;As a result, the electricity price is too low, and the more electricity the distribution companies supply, the more money they lose. â&#x20AC;&#x153;Critics of the distribution companies point out they have not invested enough money putting electricity meters in households, so customers dispute estimated bills, and revenue collection is poor. â&#x20AC;&#x153;Dollar debts to fund the purchase of DisCos became extremely onerous when the naira depreciated with oil price from 2014, which the discos say made such investment unaffordable,â&#x20AC;? he said.

The economist also noted that high investment above 25 per cent of GDP was a characteristic of countries that escape poverty, escape the middle-income trap and become wealthy countries.

According to him, stringent capital controls mean the state can take individual savings in the state-owned banking sector and lend them out at interest rates below the rate of inflation.

He estimated that an average Nigerian (children included) gets just over $0.30 per day from the countryâ&#x20AC;&#x2122;s oil revenues, which account for over 90 per cent of exports.

Currency Dealers Back CBNâ&#x20AC;&#x2122;s Policies Nume Ekeghe The Association of Bureaux De Change Operators of Nigeria (ABCON) has expressed its support for the Central Bank of Nigeriaâ&#x20AC;&#x2122;s (CBN) monetary policy and intervention in critical sectors in the economy.

In a statement yesterday, ABCON President, Alhaji Aminu Gwadabe, said the central bank under Governor Godwin Emefiele, has achieved financial stability and promoted monetary policy initiatives that have kept the economy on the right paths.

He said CBNâ&#x20AC;&#x2122;s sound monetary policy decisions have also impacted positively on the banking system and economy, adding that bank customers now have confidence in the financial system.

Gwadabe said the monetary policy decisions of the CBN has helped to lower inflation rate, boosted foreign reserves and stabilised the naira exchange rate. He said the local currency has been continuously strengthened by the CBN dollar/Yuan

interventions and other policy initiatives. The statement added: â&#x20AC;&#x153;The monetary policy decisions, Anchor Borrowersâ&#x20AC;&#x2122; Programme and foreign exchange interventions are among the measures that brought inflation down from 17.2 per cent in April, 2017 to 11.37 per cent in January 2019. â&#x20AC;&#x153;The CBN-led Monetary Policy Committee (MPC) has kept benchmark interest rate steady at 14 per cent for over two years to curb inflation and support the naira.â&#x20AC;?

He said CBNâ&#x20AC;&#x2122;s registration of more International Money Transfer Operators (IMTOs) from 11 to 60 operators has also boosted Diaspora remittance inflows into the economy adding that the short-term outlook of the Nigerian economy remains positive. He also applauded the CBNâ&#x20AC;&#x2122;s initiatives including the Investorsâ&#x20AC;&#x2122; and Exportersâ&#x20AC;&#x2122; (I&E) Forex window, which has helped to attract foreign capital investment into the economy as well as foreign investors who are committed to unlocking Nigeriaâ&#x20AC;&#x2122;s

economic potential.

Gwadabe, said the CBNâ&#x20AC;&#x2122;s restriction on 42 items that can be produced locally from accessing foreign exchange has not only improved the local production of the concerned items, but led to better utilization of available foreign exchange.

The ABCON boss also applauded the CBNâ&#x20AC;&#x2122;s Anchor Borrowers programme, which has led to Nigeriaâ&#x20AC;&#x2122;s self-sufficiency in rice production, moving the country from a net importer of rice to a major producer of rice, supplying key markets in neighboring countries.

The apex bank, he added, also established a N300 billion Real Sector Support Facility (RSSF) to unlock potentials in the economy and promote real sector growth.

The facility is supporting large enterprises for start-ups and expansion financing needs of N500 million up to a maximum of N10 billion in key sectors of the economy, especially manufacturing, agriculture and services.

Lagos Defaults On Green Note Issue Lagos State Governmentâ&#x20AC;&#x2122;s N4.85 billion, 15.75% Series 1, Tranche B, environmental Note (Green Note) has run into trouble, a report by Proshare, an online financial information service hub has disclosed.

The Fixed Income Note, a sub category of the larger N50bln Medium Term Note used to finance the Cleaner Lagos project of the government is caught in a mesh of politics and bureaucracy, it added.

The top-rated instrument which attracted a credit rating of A+ by both Agusto Credit Agency and Global Credit Rating Agency (GCR, formerly Duff & Phelps) missed its coupon and principal payment due for Tuesday 5, March 2019.

The Note with a four-and-ahalf-year tenor was meant to pay both coupon and principal to

investors in the first week of March 2019, but the poor state of the Noteâ&#x20AC;&#x2122;s sinking fund and the slow response of the stateâ&#x20AC;&#x2122;s treasury to the payment of the fixed income obligation has raised anxiety among the Noteâ&#x20AC;&#x2122;s investors.

As things stand, investors are petrified of the growing likelihood that the State Government would skip payment for the month as the administration awaits the outcome of the governorship election to be held this Saturday.

It quoted sources that invested in the Note, to have said the problem with the fixed income instrument was that, â&#x20AC;&#x153;the project which the Note was used in funding has not been able to meet cash flow projections; therefore, the state has been required to cover the semi-annual payments from its own operating

income. This has proven to be a hard road to travel as the state government has shown that it has little wiggle room for additional debt servicing.â&#x20AC;&#x2122;â&#x20AC;&#x2122; Lagos State is easily the most creative state in the country in terms of fiscal management and growth of internal revenue sources but it is equally the most highly indebted sub-national entity in the country with a domestic debt obligation of N517.4 billion. The state is also opaque with its finances and disclosures. While the latter part remains an area in need of improvement, the concern it elicits when defaults occur brings home the point and relationship between generation and utilisation of revenue, and the issue of accountability and transparency.

Photosuite Studiosâ&#x20AC;&#x2122; Damilare Alebiosu; Advertising Practitioner, Austin Osazuwa; MD, Goldbanc Management Associates Limited, Yomi Sanya; Lead Photographer/Head Operations Photosuite Limited, David Dosunmu; CEO Laterna Ventures, Mrs.Oluremi Morgan; Head Internal Control and Audit, Bank of Industry, Yemi Ogunfehinmi and Demola Sobola, at the oďŹ&#x192;cial opening of Photosuite Studios in Lagosâ&#x20AC;Śrecently

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 AT MONDAY,4 MARCH 2019

The price of OPEC basket of fourteen crudes stood at $64.86 a barrel on Monday, compared with $65.32 the previous Friday, according to OPEC Secretariat calculations.

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

SOURCE: OPEC headquarters, Vienna

39

T H I S D AY Ëž Í´Ë&#x153; 2019

MARKET NEWS

Shareholders Endorse Access Bank, Diamond Bank Merger Goddy Egene Shareholders of Access Bank Plc and Diamond Bank Plc yesterday approved the merger of the two financial institutions aimed at creating a leading retail bank.

The shareholders gave the approval at separate extraordinary general meetings (EGMs) held in Lagos.

Speaking to the shareholders, the Chief Executive Officer of Access Bank, Mr. Herbert Wigwe

said the merger with Diamond Bank would enable Access Bank to acquire a bank with 17 million retail customers and the most viable mobile payment platform.

Wigwe said the expected revenue and cost synergies were material, which he said would translate to significant long term value for shareholders and other stakeholders.

Wigwe said the bank, after the merger, would attract more opportunities such as trade finance

P R I C E S MAIN BOARD

F O R DEALS

from international partners. â&#x20AC;&#x153;With the final merger of both banks and the status of the resulting entity as â&#x20AC;&#x2DC;the largest bank in Africaâ&#x20AC;&#x2122;s largest economy,â&#x20AC;&#x2122; this greatly bolsters the bankâ&#x20AC;&#x2122;s brand, opening doors of opportunity both in local and international markets,â&#x20AC;? he said.

Wigwe said the merger was expected to produce the largest banking group in Africa based on its number of customers estimated at 29 million.

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

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He said: â&#x20AC;&#x153;The resulting entity which will maintain the brand name Access Bank, but with Diamond Bank colour, will have more than 29 million customers, 13 million of which are mobile customers. The bank would be a continental force with presence in 12 countries, 3,100 ATMS and nearly 32, 000 Point of Sale. As a continental financial force, it is set to attract more opportunities such as trade finance from international partners seeking

T R A D E D MAIN BOARD

A S

multinational lenders with local intelligence.â&#x20AC;?

He explained that Diamond Bank merging with Access Bank merging also means customers of the former can enjoy access to the latterâ&#x20AC;&#x2122;s strong balance sheet, ubiquitous presence and solid operational structure. â&#x20AC;&#x153;Diamond Bank has formidable retail business with the largest retail customer base in Nigeria, over 17 million customers. Diamond Bank

O F

also has a track record of customer acquisition and low cost liabilirties generation.

The enlarged Access Bank will serve 27 million retail customers, almost double the number customers of any other bank in Nigeria and more than any other bank in Africa, â&#x20AC;&#x153; Wigwe said.

Some of the shareholders, who spoke at the EGM hailed the merger. For instance,

0 5 / 0 3 / 2 0 1 9 DEALS

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40

5 ) * 4 % ": t WEDNESDAY, MARCH 6, 2019

41

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

MARKET NEWS

Sunu Assurances Eyes Increased Market Share, Launches USSD App Goddy Egene Sunu Assurances Nigeria Plc, a member of Sunu Group, is eying the top 10 position in the industry in the next five years.

The Managing Director of the company, Mr. Samuel Ogbodu, who stated this yesterday in Lagos, at news conference, noted that this would be achieved by exploring the numerous

opportunities in the insurance industry.

According to him, Sunu Assurances Plc will take advantage of the country’s population to boost its market share in the industry, stressing that the company would increase its focus on the retail market to bring insurance services to 180 million Nigerians in every nook and crannies of the country.

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

He explained that with locations across the six geopolitical zones, it would drive growth through technology and physical presence.

He said that the company would remain committed to prompt payment of claims, noting that it had paid about N1 billion claims since its acquisitions of Equity Assurance Plc, which was later changed to

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 04Mar-2019, unless otherwise stated.

Sunu Assurances Plc. Ogbodu said that Sunu Assurances Nigeria, a subsidiary of Sunu Group, would ensure development of insurance business in Africa as well as Nigeria, disclosing that its entrance into Nigerian market was a game changer to serve the citizenry and to ensure growth and development.

“We want to do business the

way it should be done to serve customers and stakeholders better. We will build on our existing technical partners because a robust technical support is very important to service in the industry,” he said.

The MD disclosed that the company’s current technical partners include: African Re-insurance, WAICA Reinsurance Corporation and

Mapfre Asistencia, an affiliated company of Mapfre Group based in Madrid, Spain, among others.

He said that the company recently launched an innovative mobile USSD insurance solution, first of its kind self-service solution to enable car owners/ users purchase authentic third party auto insurance with the use of their mobile phone in less than five minutes.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.85 0.86 1.58% ACAP Income Funds 0.62 0.62 11.93% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.28% AIICO Balanced Fund 2.28 2.30 2.53% 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 17.00 17.51 2.47% ARM Discovery Fund 364.37 375.35 2.17% ARM Ethical Fund 29.27 30.15 3.65% ARM Money Market Fund 1.00 1.00 13.69% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.67% Paramount Equity Fund 12.15 12.25 2.87% Women's Investment Fund 106.22 106.74 2.50% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 13.50% 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 13.22% Coronation Balanced Fund 0.85 0.85 Coronation Fixed Income Fund 1.16 1.16 3.65% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,227.88 1,228.66 3.58% FBN Heritage Fund 145.64 146.97 1.55% FBN Money Market Fund 100.00 100.00 14.18% FBN Nigeria Eurobond (USD) Fund - Institutional 115.93 116.45 1.79% FBN Nigeria Eurobond (USD) Fund - Retail 115.86 116.38 1.98% FBN Nigeria Smart Beta Equity Fund 151.87 154.11 1.25% 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 0.68% Legacy Debt Fund 3.31 3.31 2.05% Legacy USD Bond Fund 1.04 1.04 0.83% 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 3,010.80 3,042.20 0.91% Coral Income Fund 2,819.70 2,819.70 2.95% 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 13.02% Nigeria Entertainment Fund 109.06 109.64 1.79% 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 13.53% Vantage Balanced Fund 2.16 2.19 0.76% Vantage Guaranteed Income Fund 1.00 1.00 15.05% Kedari Investment Fund (KIF) 123.36 123.60 -1.23%

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 1.17 1.19 1.86% Lotus Halal Fixed Income Fund 1,094.53 1,094.53 2.32% 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 11.71 11.80 1.76% Meristem Money Market Fund 10.00 10.00 11.40% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.38 1.40 7.84% PACAM Fixed Income Fund 12.31 12.38 0.91% PACAM Money Market Fund 10.00 10.00 12.08% 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 126.01 126.66 4.40% 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 2.44% 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 2,382.60 2,397.18 2.98% Stanbic IBTC Bond Fund 195.18 195.18 2.65% Stanbic IBTC Ethical Fund 0.99 1.00 4.74% Stanbic IBTC Guaranteed Investment Fund 252.01 252.05 1.96% Stanbic IBTC Iman Fund 167.98 169.89 2.98% Stanbic IBTC Money Market Fund 100.00 100.00 13.17% Stanbic IBTC Nigerian Equity Fund 8,712.72 8,817.87 2.64% Stanbic IBTC Dollar Fund (USD) 1.12 1.12 1.07% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A 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 11.27 11.43 6.87% Zenith Ethical Fund 12.50 12.62 3.85% Zenith Income Fund 21.05 21.05 9.18% Zenith Money Market Fund 1.00 1.00 10.97%

REITS NAV Per Share

Yield / T-Rtn

5.95 119.16 51.94

-39.35% 0.13% 0.01%

Bid Price

Offer Price

Yield / T-Rtn

10.79 115.16 90.73

10.89 117.65 92.44

2.27% -1.81% 2.34%

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

4.22 7.30 15.03 12.70 152.55

4.26 7.38 15.13 12.90 154.55

5.40% -4.16% 0.55% 2.77% 6.23%

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.

42

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

INTERNATIONAL

Hillary Clinton Rules out Another Presidential Run Hillary Clinton has for the first time ruled out running for president in 2020.

“I’m not running, but I’m going to keep on working and speaking and standing up for what I believe,” Clinton said Monday in an interview with News 12, a local television channel in New York.

Clinton was the frontrunner

in 2016 but ended up losing to Donald Trump.

“I want to be sure that people understand I’m going to keep speaking out,” Clinton said.

“I’m not going anywhere.

What’s at stake in our country, the kinds of things that are happening right now, are deeply troubling to me.”

Clinton has held meetings with some of the Democrats who are now vying for the party nomination or considering a run.

CNN has reported that they include former vice president Joe Biden, who has not yet said if he is running.

“I’ve told every one of them, don’t take anything for

Four US Tourists, Pilot Killed in Kenya’s Chopper Crash Four American tourists and a Kenyan pilot were killed when their helicopter crashed on an island in a lake in northwest Kenya, police said yesterday.

The accident occurred in the Central Island National Park in Lake Turkana at around 8pm (1700 GMT) on Sunday, police said in a statement.

All five on board the chopper were killed.

“Security personnel dispatched to the scene

confirmed that among the five were four Americans and the Kenyan pilot.”

The cause of the crash was not immediately known, and the identities of the victims would be released once their next of kin have been informed, the statement said.

Known as the Jade Sea, Lake Turkana, which is popular with tourists, is the most saline lake in East Africa and the largest desert lake in the world.

It is also a candidate site

for the birthplace of mankind.

Its islands are breeding grounds for the Nile crocodile, hippopotamus and several snake species while the lake itself is important to migratory birds.

Last year, UNESCO placed it on its list of endangered World Heritage Sites, in part because it is threatened by Ethiopia’s construction of a hydroelectric dam on the Omo River, which replenishes the lake seasonally.

US Woman Who Joined Islamic State Loses First Round in Court An Alabama woman who joined the Islamic State lost a first round in a legal fight to return to the US with her toddler son, even as a judge seemed to support at least one argument made by her lawyer for her US citizenship.

US District Judge, Reggie Walton, denied a request for “expedited” proceedings for Hoda Muthana, whose lawyers sought to have her lawsuit litigated on an emergency schedule so she could get out of a refugee camp in Syria and back to the US. Walton said Muthana’s lawyers failed to establish that the woman and her 18-month-old son face imminent danger in allied custody as the US prepares to withdraw most of its forces from the fight against the

Islamic State in Syria.

Secretary of State Mike Pompeo said in a radio interview that she is not a citizen, and it would be a “risk” to let her back into the United States.

“In fact, she’s a terrorist, and we shouldn’t bring back foreign terrorists to the United States of America,” Pompeo said in an interview with WOC Radio in Iowa.

Muthana, who married three Islamic State fighters during her time with the group, says she now regrets joining and wants to return to the U.S. for the sake of her child, even if that means facing criminal charges.

The US has determined that the 24-year-old Muthana isn’t a citizen because her father

was a Yemeni diplomat to the United Nations when she was born in New Jersey.

Children of diplomats are not entitled to birthright citizenship because they and their parents aren’t subject to US law.

Her lawyers argue that her father’s diplomatic status ended before her birth in October 1994 and, therefore, she was automatically a citizen. The U.S. says it wasn’t notified that his status had changed until February 1995, apparently because of a delay in reporting it by the UN, and therefore he was still a diplomat.

The government determined her US passport was issued by mistake and revoked it while she was abroad in January 2016, under President Barack Obama.

British, EU Negotiators Take New Stab at Brexit Impasse British Brexit Secretary, Stephen Barclay and Attorney-General Geoffrey Cox are due in Brussels later Tuesday for more talks with EU negotiator Michel Barnier aimed at securing domestic support for Britain’s EU divorce deal.

British Prime Minister, Theresa May, is looking for guarantees to win over parliament ahead of a second vote on the withdrawal agreement, due by March 12, after it roundly rejected the text initially agreed with Brussels.

Objections centre on the socalled “backstop’’ provisions aimed at maintaining an open border on the island of Ireland, amid fears that these could lock Britain into a close relationship with the EU that it cannot unilaterally end.

British and EU negotiators are now looking for guarantees that would allow Cox to change his earlier assessment that Britain could be locked “indefinitely” into the backstop.

The EU says it is prepared to offer assurances and clarifications,

but has refused to change the nature of the backstop – an insurance policy designed only to take effect if the two sides fail to strike a trade deal in time.

Earlier Tuesday, British Foreign Secretary, Jeremy Hunt, said the signals from the EU were “reasonably positive,” although there was “still a lot of work to do,” in comments to the BBC public broadcaster.

“We need substantive changes that would allow the attorneygeneral to change his advice to the government. And I think the EU understands that we need that change,’’ Hunt said.

Britain is due to leave the EU on March 29, although an extension is looking increasingly likely.

Also, Scottish National Party leader, Nicola Sturgeon said Scotland “could choose a different path” as Britain prepares to leave the EU, ahead of a vote on Brexit in Scotland’s devolved parliament on Tuesday.

The Scottish parliament and a devolved Welsh assembly

would hold simultaneous votes on declaring their “opposition to the damaging EU exit deal” agreed

by Prime Minister for Britain to leave the bloc on March 29.

In an SNP statement, Sturgeon, who also heads the Scottish government, said recent legislation passed under devolved powers “shows how Scotland can choose a different path and create a more equal and prosperous country, with fairness at its core.”

“Imagine what more we could do if we held the full range of powers of independent parliaments,” she said.

Tuesday’s votes in Scotland and Wales create “an unprecedented event,” said Mike Russell, the Scottish government’s constitutional relations secretary.

“We are taking this historic step to send a strong message to the UK government that it must stop pursuing such a disastrous course of action,” Russell said.

granted, even though we have a long list of real problems and broken promises from this administration that need to be highlighted,” Clinton said.

Asked if she would run

again for some kind of public office, she seemed to avoid ruling that out.

“I don’t think so, but I love living in New York and I’m so grateful that I had

the chance to be a senator for eight years and to work with people across our state,” said the former secretary of state and senator for New York State.

Macron Proposes EU Reforms, Warns against Nationalists Ahead of May Elections French President, Emmanuel Macron, has proposed reforms of the European Union (EU) and warned against nationalist parties ahead of the European Parliament elections in May. In a newspaper column published in each of the 28 member states on Tuesday, Macron wrote: “In a few weeks, the European elections will be decisive for the future of our continent.

“Europe has never been as necessary since World War II as it is now and yet never has Europe been in such danger’’.

“Nationalism offers nothing.

It is a project of rejection,’’ he warned.

He noted that Brexit was the “symbol of Europe’s crisis in not being able to provide for the people’s need for protection in the face of today’s threats’’.

“We are at a decisive moment for our continent, at a time when, collectively, we

Macron must reinvent… the forms of our civilisation in a changing world,’’ he said, calling for a common front to resist division.

“To that end, I propose building this renaissance together around three ambitions: freedom, protection and progress.’’

His proposals included the creation of a European agency, which will provide experts to protect the voting process of each member state from cyber attacks and manipulations.

He also suggested a ban on funding European political parties by foreign powers, a review of the Schengen system and creating a common border force and European asylum office.

In the article, Macron talked about setting EU zerocarbon target by 2050, the establishment of a minimum European wage and a ban in Europe of companies “undermining the strategic interests of Europe’’.

Furthermore, the French head of state called on European institutions and states to take part in a “Conference for Europe’’ by year-end to propose all necessary changes to the bloc’s political project.

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

43

NEWSEXTRA

Don’t Involve Military in Politics, DHQ Tells PDP Says violation of military code not tolerated To probe attacks on personnel in Niger Delta Dickson visits Buratai Kingsley Nwezeh in Abuja The Defence Headquarters (DHQ) yesterday asked the Peoples Democratic Party (PDP) not to drag the Nigerian Armed Forces into politics, insisting that the military would not be dragged into politics but would remain

focused on the peaceful conduct of the remaining elections.

The DHQ has also warned military personnel against violation of the code of conduct guiding the elections.

The opposition PDP had accused the military of taking sides with the ruling All Progressives

Guber Poll: IG Bans Covered Vehicle Number Plates The Acting Inspector General of Police (IG), Mohammed Adamu, has banned the use of covered vehicle number plates by all unauthorised users across the country.

Force spokesman, Mr. Frank Mba, said in a statement yesterday that Adamu has also warned would-be troublemakers for Saturday’s governorship and state Houses of Assembly elections to have a rethink.

The ban placed on covered vehicle numbers followed intelligence report that covered number plates may be used to commit electoral offences.

IG also noted that covering of vehicle number plate amounts to clear breach of the Road Traffic Act and other relevant laws of the land.

He also warned that any security personnel found escorting their principal with an unmarked vehicle or those with masked vehicle number plates will be arrested and dealt with accordingly.

“Apart from the above

immediate possible threats to the polls, the IG also noted that the covering of Vehicle Number Plate amounts to a clear breach of the Road Traffic Act and other relevant laws of the land.

“In addition, the act could also impact negatively on national security and safety and has the capacity to; heighten criminal activities, engender atmosphere of lawlessness, shield perpetrators of crime and place unnecessary pressure on security agencies in their routine crime prevention and monitoring tasks,” Mba explained.

The IG also directed all Assistant Inspectors General of Police (AIGs) and Commissioners of Police (CPs) in the Zonal and State Commands to strictly enforce the restriction order at their various Areas of Responsibilities (AOR) and to ensure that all defaulters are dealt with according to the law.

Congress (APC) during the recent presidential and National Assembly elections and vowed to report the matter to the United Nations(UN).

Also, the DHQ has warned the military personnel against violation of the code of conduct guiding the elections, promising to take a position on the attacks on military personnel in Bayelsa State that led to the death of some soldiers and other allegations and counter allegations against soldiers after an exhaustive investigation would have been conducted.

This is coming as the Governor of Bayelsa State, Seriake Dickson, yesterday paid a visit to the Chief of Army Staff, Lt. General Tukur Buratai, at the Army Headquarters in Abuja.

Defence Spokesman, Colonel Onyema Nwachukwu, told THISDAY yesterday that the

military would not be involved in the murky politics of Nigeria.

“I will like to be very categorically that the Armed Forces of Nigeria is very apolitical. This position cannot be compromised.

“Our role in the Constitution is to defend the territorial integrity of Nigeria and to act in aid of civil authority when called upon to do so.

“I want to make it clear that military personnel who are involved in the security architecture of the electoral process are guided by a code of conduct, a violation of which cannot be condoned by the leadership of the armed forces,” he said.

While assuring of the commitment of the military to discharge its duties, he said it would be premature to comment on the violence that took place during the last elections without

exhaustive investigation.

“It is premature to indict anyone without conducting investigation.

Currently, the armed forces of Nigeria are focused on ensuring that we support the lead agencies in the electoral process to provide adequate security during the conduct of the election,” he said.

On concerns being raised over the show of force by the Nigerian Army in Akwa Ibom State, a supposedly peaceful state, Nwachukwu said the exercise was a deterrent for “would be law breakers”.

“There is nothing wrong with a show of force parade. There are people who want to abuse the rights of others during the election. It is not for law abiding citizens.

Speaking on the killing of soldiers in Bayelsa State, he said exhaustive investigation would

be conducted.

“It is unfortunate that those things happened but like I told you we want to do exhaustive investigation. If people can be so brazen to attack troops on duty, it is most unfortunate and needs to be condemned.

“Nobody deserves to die in this election whether security agents or civilians,” he said.

Meanwhile, Dickson, yesterday paid a visit to Buratai Details of the visit were not made available but THISDAY’s investigation revealed that the visit was not unconnected with the killing of three soldiers in the state during the last election.

“The governor commiserated with the army chief and appealed against any reprisal attack by soldiers in the community,” a source privy to the meeting told THISDAY.

Inter-Faith Ministers’ Summit Holds March 27 Peter Uzoho The maiden edition of Ministers’ Development and Networking Summit, a platform for training and developing young ministers across Christian denominations, has been scheduled to hold on March 27, 2019.

The summit is organised by the Deeper Christian Life Ministries in conjunction with the Lagos Chapters of the Christian Association of Nigeria (CAN) and the Pentecostal Fellowship of Nigeria (PFN).

According to the organisers, the one-day summit with the theme: “Building the Builders,” will take place at the headquarters of the Deeper Life Bible Church, Gbagada, Lagos.

Announcing the programme at a press conference in Lagos, the Chairman of CAN in Lagos, Apostle Alexander Bamgbola, said the summit was initiated by the General Superintendent of Deeper Life Bible Church, Pastor William Kumuyi.

Bangbola said: “The summit is a non-denominational forum that provides church ministers a rare opportunity for personal development and ministerial empowerment through expository studies, practical training, information sharing and networking.

“We must appreciate the convener of the summit (Kumuyi) whose all-round ministry has for decades, been

a huge blessing to countless number of Christians and gospel ministers across church denominations and countries.

“The vision for the Ministers’ Development and Networking Summit came from him, and I have no doubt that he heard from God, our father. Indeed, this is not the first attempt he has made in the quest to have gospel ministers trained and developed irrespective of their denominational background.

But this one is huge and unique in the sense that it is a vision shared by the entire membership of CAN. “It is our hope that the deliverables from this platform will play a catalytic role in the revival of the entire body Christ and lead the Church of Christ in the state to higher heights.”

He explained that “the summit is coming at a time when the body of Christ is in dire need to function synergistically so as to tear down the increasingly menacing ‘gates of hell’ in our land.”

Bangbola also said such kind of summit would foster the much needed love and unity in the body of Christ, which in turn, will create a more enabling environment for meaningful and effective evangelism The CAN chairman added that the summit would feature a variety of treats, seminars, workshops, inspiring messages as well as excellent opportunity for ministerial interface and networking.

CONGRATULATIONS...

L-R: Director of Administration, Julius Berger Nigeria Plc, Alhaji Zubairu Ibrahim Bayi; Director/Board member, Julius Berger Nigeria Plc, Mrs. Belinda Ajoke Disu; and Director, Corporate Development, Julius Berger Nigeria Plc, Mr. Tobias Meletschus, after receiving their membership certificates at the induction ceremony of Institute of Directors in Lagos… recently.

I Didn’t Know Alison-Madueke Brought N450m, Belgore Tells Court Davidson Iriekpen A Senior Advocate of Nigeria (SAN), Dele Belgore, yesterday told a Federal High in Lagos that he didn’t know that the N450 million he was accused to have laundered was part of $115 million doled out by a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

Belgore said he thought the money was sent from the Peoples Democratic Party (PDP) 2015 presidential campaign headquarters in Abuja.

The senior lawyer was led in evidence by his counsel, Mr. Ebun Shofunde (SAN), at his resumed trial over N450 million money laundering charge preferred against him by the Economic and Financial Crimes Commission (EFCC).

“As campaign co-ordinator in Kwara for the 2015 election, we were informed that monies would be sent from the Presidential Campaign Headquarters in Abuja, to the PDP

in Kwara.

“My lord, I have no information that the money was paid on the instructions of Alison-Madueke.

“I have never met her, and I have never spoken with her.

“I have never dealt or spoken with anybody claiming to be acting on her behalf.

“In relation to me, in relation to PDP, in relation to the presidential campaign for which I was coordinator, and in relation to the said N450 million or any sums at all.

“As I have said before, as coordinator and stakeholder in Kwara State, we had asked the presidential campaign headquarters for funds for the election and we were told that there were no funds available.

“We were, however, informed that there will be series of fund raising activities, where funds will be raised; I also know that within a very short time, the headquarters called me and said that the funds were available.

“So, all along, there was

absolutely no case, no evidence, no indication, and nobody saying that the money came from any other place other than the presidential campaign headquarters.

“So, it was surprised when I received the proof of evidence in February 2017, and when Pw2 (principal witness 2) told the court in his evidence, of a different source of the money,” he said.

But Prosecution witnesses I and 2 (PW1 and Pw 2) had in their testimonies alleged that the money from which the N450 million was brought, came from some oil marketers.

In response, Belgore said “Well, my lord, I do not know any of the said oil marketers that pw1 and 2 claimed provided the money.

“I have never met them; I have never dealt with them, or dealt with anybody who claimed to be acting on their behalf.

“I first heard of them in February 2017 when I was served with the proof of evidence,”

On the allegation that the monies were paid into the Fidelity Bank account of these oil marketers, Belgore replied: “I have no information as regards that fact.

“It is not a fact within my knowledge at the material time, and it has not been a fact within my knowledge ever since,” Asked of his reaction to PW 1 and PW2 claim that the money was paid out on the instructions of Diezani Alison -Madueke, the defendant said that as a matter fact, it was during investigations in November 2016, that he first heard from Pw2 that the said funds did not come from the presidential campaign headquarters, as he was made to believe.

He said, “Until this time, no one, other than Pw2 and maybe Pw1, has told me that the N450 million did not come from the fund raising activity conducted by the presidential campaign organisation.”

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

44

NEWSEXTRA

Wike Alleges Plot by APC, Security Agencies to Kidnap Rivers REC Ernest Chinwo inPortHarcourt Rivers State Governor, Nyesom Wike, has raised the alarm of an alleged plot by security agencies and the All Progressives Congress (APC) to kidnap the Resident Electoral Commissioner (REC) of the state to create an excuse for the postponement of the governorship and State Assembly elections.

Wike further declared that the state government has also intercepted credible intelligence that the APC also plans to use the security agencies to generate mass violence to disrupt the distribution of electoral materials on March 9, 2019 to compel INEC to postpone the elections.

Speaking during a town hall meeting for Rivers West senatorial district yesterday at Ahoada, Wike decried the situation where the APC and security are working illegally to postpone the elections on the basis of contrived violence.

He said: “They are struggling to ensure that the governorship and State Assembly elections don’t hold in Rivers State. The APC is planning

with security agencies to kidnap the Rivers State Resident Electoral commissioner. They will send people wearing army uniforms to kidnap the Resident Electoral Commissioner so that INEC will be forced to postpone the elections. That is their latest strategy and so I have to let the world hear that if anything happens, they should hold the APC and security services responsible.

“These people are not kidnappers, they are security agents organised by security agencies working for APC to see that the governorship and State Assembly elections don’t hold in Rivers State.

“These security agencies have been organised to ensure that the elections are postponed. This ugly plan has failed. I am calling on Nigerians to take note of this undemocratic plot.

“We have also gathered that the APC and security agencies plan to disrupt the distribution of electoral materials and compel INEC to postpone the governorship and State Assembly elections.”

He wondered why some politicians are keen on unleashing

violence on innocent Rivers people.

“Since we have known the plot, it will fail. I don’t know just because you want power, you go to extreme.

Why arm youths to kill people so that elections will not hold,” he said.

The governor urged the people of Rivers West senatorial district to be vigilant all through the governorship and State Assembly elections for

at the Governor ’s Office, Oke-Mosan, Abeokuta.

The NLC president said all issues raised by the NLC regarding workers’ welfare had been resolved.

He also said that the issues on the plight of staff of the Tai Solarin College of Education, Omu-Ijebu, had also been resolved.

Ambali and 14 others were sacked by the state

Femi Ogbonnikan in Abeokuta The Ogun State governorship candidate of the Peoples Democratic Party (PDP), Senator Buruji Kashamu, has promised to restructure and pay all unpaid salaries and deductions of public workers in the state, within 100 days he assumed office.

In a document entitled: “Our Pact with Ogun workers, traditional rulers, MAPOLY, TASCE and Students of Ogun State,” released

government on October 31, 2016 for alleged misconduct during the 2016 World Teachers Day celebration.

The state government had set up a panel of inquiry to investigate them for their roles during the celebration.

The panel report indicted Ambali and 15 others and they were either suspended or sacked.

Amaechi Cannot Exonerate Himself from Killings in Rivers, Says State Govt Davidson Iriekpen Rivers State Government yesterday said no matter how much he tries, the Minister of Transportation, Hon Chibuike Amaechi, cannot exonerate himself from the killings in the state during the presidential and National Assembly elections.

It added that blood of the innocent people of the state who died during the elections are in the hands of Amaechi.

The state Commissioner for Information and Communications, Emma Okah, said this in a statement in reaction to the post-election media briefing by minister in Abuja.

Okah alleged that Amaechi as a purveyor of violence since 2015, has not been able to win one single election without resort to violence and use of security agencies.

He added that anytime he moves around in the state, it is usually with a long convoy of soldiers.

He called on President Muhammadu Buhari to order the arrest of Amaechi for sponsoring the violence and killing of Rivers people during the presidential and National Assembly elections.

He said the President Buhari witnessed the threat by the minister and urged him to act in the interest of the people state.

“Nigerians cannot forget in a hurry that right in the presence of President Muhammadu Buhari during the APC presidential campaign rally in Port Harcourt, Amaechi threatened

violence in order to ensure the presidential election of February 23, 2019 is won his party.

“Amaechi made good his threat on Saturday, February 23, 2019 when he worked with compromised security agencies and hired armed thugs to unleash violence on Rivers State. In the process, the minister’s game plan caused the death of over 30 persons.

“These killings were confirmed

by INEC Electoral Officers who indicted soldiers and the APC for the violence and snatching of electoral materials during the presidential and National Assembly elections. Amaechi should be held to account for these crimes against Rivers people.”

eight Local GovernmentAreas (LGAs) of Rivers West senatorial district.

“We believe if we are given the opportunity for a second term, we will complete all ongoing projects and initiate new projects for the benefit of the people. In this party, if we make a promise, we fulfil the promise,” he said.

The governor urged the people of

the state not to be discouraged by the loss of the presidential election by the PDP, saying that national leadership of the party is following the legal route to retrieve the people’s mandate.

The governor reiterated his call on Rivers people to be peaceful during the governorship and State Assembly elections. He appealed to them to defend their votes.

Kashamu Promises to Pay Ogun Workers’ Entitlements Within 100 Days

Amosun Reinstates Ogun NLC Chairman The Ogun State Governor, Ibikunle Amosun, has reinstated the state chairman of the Nigeria Labour Congress (NLC), Akeem Ambali, 28 months after he was fired.

The National President of the Union, Ayuba Wabba, disclosed this yesterday to journalists after a meeting between the state government and national leaders of the NLC

the purpose of ensuring that the elections hold in line with the extant laws.

He said rather than plot the disruption of elections, APC leaders should test their popularity by supporting another political party during the March 9 elections.

The governor said that the presence of his administration is felt across the

Okah further alleged that it was unfortunate that the minister who has sponsored the killing of Rivers people during the presidential and National Assembly elections would rush to Abuja to lie against Governor Nyesom Ezenwo Wike who promotes peaceful electioneering and insists that the votes of the people must count.

“After sponsoring the killing Rivers people, especially PDP members, Amaechi is struggling to divert attention of the public by claiming that those killed are members of the APC. This is a known trick of the failed minister. Each time he orders the deaths of Rivers people, he rushes to Abuja to lie.

yesterday to journalists in Abeokuta, the state capital, Kashamu said, Ogun, being a blessed state, there would be no need to plunge the state into a “whopping N103 billion debt profile”.

“Being, a state blessed with abundant human and natural resources, Ogun State should not have been in this situation.

That said, my Strategic Economic Management Team has looked at Ogun State finances and come up with a strategic plan to pay up the debts and ensure that going forward, Ogun State will not borrow money for recurrent expenditure.”

Kashamu who is the senator representing Ogun East senatorial district at the National Assembly, said it was imperative for the government and workers to enjoy a smooth working relationship.

“I am deeply saddened and pained seeing many of our hardworking and committed civil/public officers crying, suffering and going through untold hardship due to the diversion of cooperative deductions, denial of leave bonuses and arrears.

I want our civil/public officers to know that I stand and empathise with them.

“By the grace of God, if I am elected as the Governor of Ogun State, I shall inaugurate a committee made up of members of my team and representatives of the workers to immediately determine the outstanding amount due to the workers and come up with a mutually acceptable payment schedule, which shall see to the commencement of disbursements within the first 100 days of my administration.

“Going forward, salaries, cooperative deductions, pensions, shall be paid and/or remitted before the end of every month during our tenure in office,” he said.

While speaking on issues bordering on the state’s college of education, also known as Tai Solarin College of Education (TASCE), Kashamu promised to inaugurate a committee to resolve the issues concerning the institution within his first 100 days of assuming office.

“The committee’s terms of reference shall include a diagnostic review of the debts of TASCE and an appreciation of the various challenges militating against the institution with recommendations on how to resolve the challenges facing the institution.

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

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NEWSEXTRA

Oshiomhole, APC Plan to Disrupt Saturday’s Election, Delta PDP Alleges Omon-Julius Onabu in Asaba The Delta State chapter of the Peoples Democratic Party (PDP) has accused the National Chairman of the All Progressives Congress (APC), Mr. Adams Oshiomhole, of planning with some APC leaders to disrupt Saturday’s governorship and State House of Assembly elections in the state by using political thugs, ex-militants and security personnel.

The Director General of the Delta PDP Campaign Organisation, Chief Funkekeme Solomon, who made the claims while briefing journalists yesterday in Asaba, the state capital, said Oshiomhole was working in collaboration with former governor, Dr. Emmanuel Uduaghan and APC’s governorship candidate, Chief

Great Ogboru to ‘’import thugs from neighbouring Edo State’’ with the intention to disrupt the exercise and possible cause a postponement.

Speaking on behalf of the state PDP and the party’s 2019 campaign body, Solomon said they had it on impeccable intelligence that the APC chairman and others were planning to hire some exNiger Delta militants dressed in military uniforms, particularly in coastal or riverside areas as well as using force of violence through the security agencies conniving with APC agents in the state.

The PDP campaign boss noted that the party was only trying to alert the people of the state, lovers of democracy in Nigeria and the international community to the alleged evil

plot of the APC in order to avert a ‘’possible bloodbath’’ during the election on Saturday, March 9, 2019 particularly in Delta State.

Solomon, who was flanked at the media briefing by the Delta State Information Commissioner, Mr. Patrick Ukah and the state PDP Publicity Secretary, Dr. Ifeanyi Michael Osuoza, said that ‘’PDP Delta State received impeccable information that the APC, in its hell-bent, do-or-die efforts to capture the state at all costs, and enslave the people with a wicked and confused APC government, “has set a dangerous plan in motion to mobilise a large number

of ex- militants, move them into a concealed location, provide them with military uniforms, arm them with weapons and filter them into specific areas of Delta State during the March 9, 2019 governorship and State House of Assembly elections”. ‘’We have been informed that these ex-militants, when fully dressed as military personnel and armed with weapons, will now be deployed and filtered into PDP strongholds, particularly in the riverine areas where they are familiar with the terrain and in places like Delta North, which is easy to navigate, with strict

instructions to perform dirty actions. ‘’Even as we raise this alarm, we have it on good authority that these ex-militants have already been assembled and have been moved into a covert and concealed location where they will be properly debriefed and provide with their uniforms and arms with which to impersonate and then put on standby until the time when they will be driven or ferried to their designated election areas and unleashed on innocent Deltans who are going to perform their civic responsibility. ‘’Intelligence reports have it

that the execution of the plan is scheduled to commence a few days to March 9, 2019 election.

The aim is to suppress the will of the people and prevent them from voting for PDP, thereby providing the opportunity for the APC to manipulate and increase the figures from a visibly low turnout, in favour of their candidates. ‘’We have raised this alarm to alert Deltans and put the global community on notice that the All Progressives Congress (APC) has declared war on ordinary civilians and Deltans because they want to “capture” Delta State.

11 Days After, Emmanuel’s Aide Still in Captivity Okon Bassey in Uyo The Senior Special Assistant (SSA) to the Akwa Ibom State Governor on Security, Capt.

Iniobong Ekong (rtd), is yet to gain freedom 11 days after his abduction.

Ekong was abducted on February 22, by yet-to-be-known group thereby raising tension that it could be political as no ransom has been placed for his release.

Family members and friends alleged that Ekong was invited by the GOC 6 Division, Major General Jamil Sarham, to Port Harcourt, Rivers State, before the presidential and National Assembly elections based on petition against him, but since then, his whereabouts is still unknown.

Worried by the development, his family and friends have therefore appealed to President Muhamadu Buhari to intervene in the matter.

The senior brother of Ekong, Mr. Abasiekong Ekong, told journalists yesterday that the call for the president to mediate became necessary as family members are worried.

The brother said the last they heard from him was on the evening of February 22, and that all efforts to trace his whereabouts had proved

abortive, hence the decision to call on the authorities concerned to come to the aid of the family by releasing their brothers who is their bread winner.

“Ekong has been missing since the evening of February 22, 2019, and the last contact we had with him was a phone call to his office by 5p.m. on that day. We are yet to receive a formal arrest warrant of legal summons concerning this matter.

“This gentleman has a wife and children, aged parents and siblings, friends and business associates who are highly distressed about his whereabouts since February 22, 2019. That is 11 days since he has been last seen.

“We also call on President Buhari, the acting Inspector General of Police (IG), Mohammed Adamu; the Chief of Army Staff, Lt. General Tukur Yusuf Burutai; the Nigerian Bar Association (NBA), Amnesty International, Human Rights Monitor and the international community to assist in upholding the fundamental human rights of our son, brother and friend, Captain Iniobong Ekong (rtd).”

Ekong, the brother said, is a law-abiding citizen and had always performed his assigned responsibility creditabily within the ambits of the law and on the principle of equity and justice for the progress of the state.

EFCC Releases Turaki The Economic and Financial Crimes Commission (EFCC) has released Taminu Turaki, lead counsel of Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), The Cable reported late last night.

Turaki, a Senior Advocate of Nigeria (SAN), was arrested after the anti-graft agency invited him to sign a bail document for Babalele Abdullahi, son-in-law of Atiku and finance director of some companies owned by the PDP presidential candidate.

Atiku’s spokesman, Paul Ibe, had confirmed that Turaki is the lawyer coordinating the suit to challenge the outcome of the presidential election.

“He is the one coordinating the team of lawyers; so, you should

just use your tongue to count your teeth to understand why he has been arrested,” he had said.

The PDP had alleged that the lawyer’s arrest was “part of the grand plot by the Buhari Presidency and the All Progressives Congress (APC) to use state apparatus of power to intimidate PDP leaders.”

However, sources said that Turaki was grilled over alleged money laundering charges to the tune of N10 million.

It was alleged that he laundered the said amount when he headed the committee on Boko Haram amnesty when he served as the minister of special duties under ex-President Goodluck Jonathan.

PROMOTING HEALTH…

R-L: Minister of Health, Prof. Isaac Adewole; Governor of Osun State, Mr. Gboyega Oyetola; and former Osun State Commissioner for Health, Dr. Rafiu Isamotu, during the flag-off ceremony of revitalisation and rehabilitation of 332 primary health care centres at Primary Health Care Centre, Oke-Baale, Osogbo…yesterday

Ondo PDP Raises the Alarm over Attacks on Members James Sowole in Akure The Peoples Democratic Party (PDP), Ondo State yesterday raised the alarm over alleged incessant attacks on its members by members of the ruling All Progressives Congress (APC) in the state.

The state Chairman of the PDP, Clement Faboyede, raised the alarm at a press conference held in Akure, lamenting that the state government and APC had resorted to attacks on the opposition.

Faboyede also accused the Ekiti

and Osun States Governors, Dr. Kayode Fayemi and Gboyega Oyetola, of meddling in the state politics which he said was heating up the polity.

Specifically, Faboyede said some PDP members were attacked

by APC thugs in Idanre Local Government Area while two casualties are currently receiving treatment in one of the hospitals in the community.

The chairman added that the party candidate for Idanre constituency in the state House of Assembly, Mr. Festus Akingbasote, narrowly escaped assassination

yesterday morning as APC thugs attacked him when he checked on the party men in the hospital.

“It is an open secret that the APC government, the party and members have resorted to violence, intimidation and harassment of PDP members across the state.

“Just yesterday, for over four hours, it took the combined team of soldiers and mobile policemen to dislodge APC thugs in Idanre, the hometown of APC state chairman of the state. For four hours, they held the town to ransom going about with guns and cutlasses.

“And just this (yesterday) morning, attacks were on and about two of our people are in the hospital now. This calls for concern as this has been the scenario. The community has been declared a war zone as APC thugs are harassing and intimidating the people.

“They know they can’t win this election, especially that of Idanre, so they want to cause mayhem in that place. We want to say that election is not war; election should be very peaceful and the people should be allowed to vote for whosoever they want,” he said.

Osoba Defends APC’s Decision to Suspend Amosun Gboyega Akinsanmi Former Ogun State Governor, Chief Olusegun Osoba, has defended the decision of the National Working Committee (NWC) of All Progressives Congress (APC) to suspend the state incumbent Governor, Senator Ibikunle Amosun, citing different infractions of the APC Constitution by the governor.

Osoba, who is the Chairman of the APC Constitution Drafting Committee, also called for the redeployment of the state Commissioner for Police, Mr. Ahmed Iliyasu, alleging that the

police chief has closed his eyes to the misbehaviour of the state governorship candidate of Allied Peoples Movement (APM), Hon. Adekunle Akinlade.

He made the call last Monday night during an interview with journalists in his Bourdillon residence in Lagos, disclosing that Amosun visited the presidential villa 28 times within five weeks to reverse the outcome of the October 2, 2018, primaries that produced the APC governorship candidate in the state, Mr. Dapo Abiodun.

At the session, Osoba justified the decision of the NWC, noting

that the NWC “will not just wake one morning and suspend Amosun without following due process. We have complained about his anti-party activities on different occasion. The ward has complained. The local government area has complained.

“The State Caretaker Working Committee, whichAmosun claims he does not recognise, has complained about his anti-party activities. He provoked us on the day President Muhammadu Buhari came by bringing APM banners, billboards and symbol to the venue of our presidential campaign in Abeokuta.

Amosun is lucky that our people are

well-disciplined and responsible.

“We equally supplied the video-tape where Amosun said he would destroy the APC in Ogun State. What evidence do we need? Amosun has been on his anti-party activities since October 2, 2018. That was the date we held our governorship primaries in line with the guidelines of the NWC.” Osoba also explained how Amosun had said in different occasions that the APC would lose the governorship election in Ogun State citing different media reports on Amosun’s threat to undermine the APC in the state.

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T H I S D AY Ëž MARCH 6, 2019

Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x161; Ă&#x161;Ă&#x2122;Ă&#x153;Ă&#x17E;Ă? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153; Duro Ikhazuagbe Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

KIDNAPPERâ&#x20AC;&#x2122;S DEN

Kaluâ&#x20AC;&#x2122; s Mother Release Excites Sâ&#x20AC;&#x2122;Eagles Coach Ëž Ă&#x2013;Ă&#x2039;ĂŁĂ?Ă&#x153; Ă&#x2014;Ă&#x201C;Ă?Ă?Ă?Ă? Ă&#x2122;Ă&#x2DC;Ă&#x17E;Ă&#x161;Ă?Ă&#x2013;Ă&#x2013;Ă&#x201C;Ă?Ă&#x153; Ă&#x17D;Ă&#x;Ă?Ă&#x2013; Femi Solaja Super Eagles Head Coach, Gernot Rohr, yesterday expressed his delight following the news that kidnappers had released the mother of Nigeria and FC Bordeaux winger, Samuel Kalu after holding her for nearly a week.

Abia State Police spokesman, Godfrey Ogbona, confirmed the news of the release from captivity of Mrs. Ozuruonye Juliet Kalu who was seized from her car on February 27 when she was travelling to her home in Abia State.

In his reaction, the FrancoGerman tactician, who on Monday released the name of the players that would prosecute the dead-rubber AFCON match against Seychelles and the international friendly against Egypt, told journalists that the news was heart-warming and hope the player will recover from the psychological trauma he had been through in the last few days. â&#x20AC;&#x153;It is good news that gladdened my heart that his (Kalu) mother has been released by

kidnappers,â&#x20AC;? he remarked.

The coachâ&#x20AC;&#x2122;s delight could be a playback to his camp mood when the Super Eagles captain, John Mikel Obi was in a similar situation following the kidnap of his father during the World Cup finals in Russia last year. â&#x20AC;&#x153;Footballers train to be at their best all the time but when domestic distractions like this come in between it damage the playerâ&#x20AC;&#x2122;s inner mind and lead to drop in form. I hope the worst is over for him and he can get back to his best as soon as possible,â&#x20AC;? he pointed out.

Reports said the kidnappers demanded some N3million ($40,000) for her release.

But it was not known whether the money was paid, the State Police spokesman told AFP. â&#x20AC;&#x153;She was released around midnight (2300 GMT) of Monday and she has been reunited with her people,â&#x20AC;? he said. â&#x20AC;&#x153;Circumstances surrounding her release has not been disclosed to me for now. â&#x20AC;&#x153;But we are still investigating the incident in a bid towards ensuring that those who carried out the act are arrested and

brought to book.â&#x20AC;?

Reports also quoted the 21-year-old footballer as saying the kidnappers initially asked for N3million and then upped the sum to N15 million when they realised the she was the mother to a Super Eagles player. â&#x20AC;&#x153;We waited the whole night, we did not see her. The next morning they called again (saying) that they want more money, that the money was (being) given to another person, and now they are asking for the ransom of N15 million,â&#x20AC;? he added.

Kalu made a breakthrough into Nigeriaâ&#x20AC;&#x2122;s national side in October last year, shortly after joining French Ligue 1 side Bordeaux from Belgian outfit Gent.

Meanwhile according to BSMsports.com, Kaluâ&#x20AC;&#x2122;s French Ligue 1 side, Bordeaux have exempted him from their league match against Montpellier at the Matmut Atlantique by 7p.m.

Tuesday night.

This according to the club is to allow him (Kalu) to mentally balance ahead of their subsequent matches.

Samuel Kalu in a recent outing with the Super Eagles

Heineken Makes Dream ComeTrue for Football Fans Worldâ&#x20AC;&#x2122;s most international beer brand, Heineken, has revealed that it will be delighting football fans across Nigeria with unique, premium viewing experiences for the rest of the UEFA Champions League Campaign, while also giving consumers an opportunity to watch the semi-finals and finals matches live in Europe.

The announcement of these exciting new plans by Heineken was made yesterday during one of the premium viewing experiences hosted at Farm City Lounge, Lekki, Lagos.

The UEFA Champions League is one of the most followed sports competition in the world with with an audience of about 1.1Billion.

With the 2018/2019 season approaching the final stage in the next few months, Heineken is set to back up its 25-year sponsorship of the prestigious tournament by providing fans with exciting and entertaining ways to enjoy the football matches.

As part of this commitment to providing fans and consumers with the most remarkable and unmissable moments from this yearâ&#x20AC;&#x2122;s Champions League, Heineken has partnered with hundreds of outlets across Nigeria to deliver premium viewing experiences to consumers nationwide. The premium viewing experiences have kicked off as the UEFA

Champions League resumes the second leg matches of the second round fixtures.

These viewing experiences will see fans in across Nigeria experience the UEFA Champions League in a new and exciting way as Heineken seeks to give fans a truly premium and unmissable experience.

Speaking on the announcement of the UEFA Champions League Trophy Tour, Marketing Director, Nigerian Breweries Plc, Emmanuel Oriakhi had this to say; â&#x20AC;&#x153;The UEFA Champions League is the most coveted trophy in club football competition, and one of the most followed sporting spectacles

in the world. Heinekenâ&#x20AC;&#x2122;s rich history with UEFA has brought us some of the most iconic and unmissable moments in the history of football. From the unforgettable volley by Zidane to seal the 2001 Champions League final to the miracle of Athens where Liverpool overturned a 3-goal deficit. These are the moments that make football such a passionate sport and we want to share these moments and experiences with fans across Nigeria.

This campaign will see Heineken provide hundreds of experience centers where fans can view the Champions League matches in a premium ambiance that only Heineken can deliver.

FIFA Confirms Chelseaâ&#x20AC;&#x2122;s Appeal againstTransfer Ban World football ruling body FIFA confirmed yesterday that English Premier League (EPL) clubside Chelsea have appealed against the transfer ban imposed on them.

The ban was imposed after they were found guilty of

breaching rules on overseas players under the age of 18.

The London side, banned from the next two transfer windows and also fined 600,000 Swiss francs (456,135 pounds), had already said they would appeal against

the decision.

The decision was taken by FIFAâ&#x20AC;&#x2122;s disciplinary committee last month.

FIFA said in a statement that it could not give a schedule for the process, nor say whether the ban would be

lifted pending the appeal hearing. â&#x20AC;&#x153;Any decision on the sanction remaining in place during the appeal process is to be taken by the chairman of the FIFA Appeal Committee,â&#x20AC;? it said.

Nimrod Calls on FormerVâ&#x20AC;&#x2122;ballers to Organise Clinics The President of Nigeria Volleyball Federation, Musa Nimrod has called on ex internationals/professionals in Diaspora to organise camps and clinics as a way of giving back to the sport and leaving a legacy in their names.

Nimrod made the call yesterday advised young players to marry sport with

education.

He reiterated his commitment in ensuring that all states and organizations registered with the federation will have original balls to train with.

He said, â&#x20AC;&#x153;I hereby call on our ex professional in Diaspora to come home and organize camps and clinics as a way of giving back to the sport

and leaving a legacy in their names.

For an assured future, I call on all our young players to marry sport with education.

They should be committed to schooling as much as they are committed to the sport.

With this two, their success now and tomorrow will be guaranteed. My dream for

them is to become leaders when they stop playingâ&#x20AC;?.

He further said, â&#x20AC;&#x153;We have been trying our best to see that everyone is carried along, one of the President projects this year is to consolidate the great effort of the family as championed by Tunde Omisore in contributing balls to the federation.

INTERNATIONAL FRIENDLY Pharaohs of Egypt to Hit Asaba on Charted Plane The delegation of National Team of Egypt, Pharaohs, will arrive in Nigeria on Sunday, 24th March aboard a chartered aircraft, for the prestige international friendly with the Super Eagles.

Officials of both the Nigeria Football Federation (NFF) and the Egyptian Football Association (EFA) confirmed yesterday to that the team will fly into the Asaba Airport direct from Niamey, Niger Republic â&#x20AC;&#x201C; where they are due to play that countryâ&#x20AC;&#x2122;s senior team on the final day

of qualifying campaign for the 2019 Africa Cup of Nations.

The Pharaohs, like the Super Eagles, have made sure of a place at the finals taking place 21st June â&#x20AC;&#x201C; 19th July ahead of the final day of qualifiers, even before Egypt was handed the hosting right for the championship.

Seychellesâ&#x20AC;&#x2122; Pirates are the Eaglesâ&#x20AC;&#x2122; opponents for the final day of the campaign, on Friday, 22nd March, before both former AFCON winners clash at the Stephen Keshi Stadium four days later.

Olympic Eagles toTackle Libya in Bengerdan Nigeriaâ&#x20AC;&#x2122;s U23 squad will take on their Libyan counterparts in the first leg, first round of the 3rd Africa U23 Cup of Nations qualifying series at the Bengerdan Stadium in Bengerdan, Tunisia on Wednesday, 20th March.

An official of the Libya Football Federation said yesterday that the Bengerdan Stadium has an artificial turf and that the match will start at 3pm Tunisia time. The delegation of Nigeriaâ&#x20AC;&#x2122;s U23 squad will land at the Djerba International Airport, which is 20 minutesâ&#x20AC;&#x2122; drive to the town of Bengerdan.

Libya is still unable to play international matches at home due to the after-effects of the Arab Spring political turmoil that began in 2011.

When the countryâ&#x20AC;&#x2122;s senior team, Mediterranean Knights hosted the Super Eagles in a 2019 Africa Cup of Nations

qualifier in October 2018, the match was staged in Sfax, Tunisia.

Nigeria is the only African country to have won gold, silver and bronze medals of the Menâ&#x20AC;&#x2122;s Olympic Football Tournament. Gold was the harvest at the Centennial Games in Atlanta, USA, and silver came in Beijing, China in 2008. The bronze medal won by the Olympic Eagles at the Games in Brazil in 2016 was the only medal won by the entire Team Nigeria at the fiesta.

The Olympic Eagles are also the defending champions of the Africa U23 Cup of Nations.

Africaâ&#x20AC;&#x2122;s flag-bearers in the Menâ&#x20AC;&#x2122;s Olympic Football Tournament of Tokyo 2020 will emerge during the 3rd Africa U23 Cup of Nations to hold in Egypt in November this year.

47

T H I S D AY Ëž MARCH 6, 2019

WEDNESDAYSPORTS

Real Madridâ&#x20AC;&#x2122;s Reign Ends as Ajax Hit Qâ&#x20AC;&#x2122;ďŹ nals in Grand Style After 1011 days as Champions League holders the 13-times winners Real Madrid came crashing down out of the competition losing 4-1 on the night to Ajax and 5-3 on aggregate.

It was a humiliation as Gareth Bale watched it unfold from the bench while suspended captain, Siegi Ramos watches from the stand as youthful Ajax side ran the show from the beginning of till the end.

Things started well enough.

Rafael Varane headed Lucas Vazquezâ&#x20AC;&#x2122; cross on to the cross bar after just four minutes and the Bernabeu believed Madrid had simply slipped into Champions League gear.

They had not and the wheels were about to come off.

First Toni Kroos lost the ball in midfield and in a flash Dusan Tadic was crossing for Hakim Ziyech to score past Thibaut Courtois.

There was stunned silence from the Bernabeu save 4,000 Ajax fans many now with shirts off celebrating behind the north goal.

That was after seven minutes.

By the 18 minutes mark Madrid were going out. Tadic spun brilliant away from Casemiro and ran at the heart of the Real Madrid defence. There was no resistance and it was Luca Modric left as the last man as David Neres got in behind him to slot the ball past Courtois.

Madrid were butter soft at the back. The Bernabeu whistled and Ajax almost scored again with Courtois saving from Tadic at his near post.

On 28 minutes injury was added to insult. First Lucas hobbled off to be replaced by

End of the road as Casemiro (left) Lukas Modric and Rapheal Varane in disbelief at elimination of Real Madrid in the competition last night at Santiago Bernabue.

Bale. Vinicius followed soon after with Marco Asensio coming on.

Madrid needed Bale more than ever yet still he was whistled on by many. He came closest to getting Madrid back in it before the break hitting the frame of the goal with a lob.

As the half time whistle went there were more whistles from the Bernabeu. Real Madrid would need a second half hero with Sergio Ramos suspended and Cristiano Ronaldo sold, it looked like it would be Baleâ&#x20AC;&#x2122;s night or goodnight. It was to be goodnight.

Ajax almost made it three at the restart but Courtois saved from Donny van de Beek. Karim Benzema broke down the left but after tricking his way past Hakim Ziyech he went for goal with a wild shot that went well

wide of the far post.

With Ajaxâ&#x20AC;&#x2122;s next attack they scored the third and they got to celebrate it twice. Noussaire Mazraoul won the ball from Sergio Reguilon and when the ball reached Tadic the best player on the pitch postage-stamped it past Courtois.

Referee Felix Brych stopped the play to consult VAR. The ball looked to have gone out when Reguilon was dispossessed.

Bale led the complaints and time stood still until Brychâ&#x20AC;&#x2122;s verdict sent the traveling Ajax supporters into raptures once more. There was no way back now. Asensio gave supporters some hope by scoring for Madrid but it was wiped out by Lasse Schoneâ&#x20AC;&#x2122;s direct free-kick past Courtois who looked poorly positioned.

The Ajax fans were now doing the Poznan behind Courtoisâ&#x20AC;&#x2122; goal.

Up in his private box Ramos looked down non-plussed by events. He chose to miss this game by picking up a forced booking in the first leg. Madrid looked home and dry at that stage. Since then their season has imploded with league and cup gone. They needed him on the pitch tonight not looking down on one of the darkest nights in the clubâ&#x20AC;&#x2122;s European Cup history.

Madridâ&#x20AC;&#x2122;s season is over with three months still to play. The blame game will start now and this time Bale will not be the only target. Coach Solari will do well to last the season and the club will intensify efforts to bring in Mauricio Pochettino or Jose Mourinho.

Its Never Mission Impossible, Says Solskjaer Manchester Unitedâ&#x20AC;&#x2122;s last-16 second-leg Champions League tie at Paris St-Germain tonight is not â&#x20AC;&#x153;mission impossibleâ&#x20AC;?, says interim manager Ole Gunnar Solskjaer.

The match is coming against the backdrop of Ajaxâ&#x20AC;&#x2122;s spectacular comeback against cup holders, Real Madrid last night at Santiago Bernabue where they won 4-1 after 1-2 loss in Amsterdam three weeks ago.

United lost the home leg 2-0 and will need to make history to progress and club has ever advanced in the knockout phase after losing at home by two or more goals in the first leg. â&#x20AC;&#x153;Goals always change games.

Weâ&#x20AC;&#x2122;ve got to get the first goal and then anything can happen,â&#x20AC;?

Solskjaer said. â&#x20AC;&#x153;Football is a technical and tactical game but itâ&#x20AC;&#x2122;s also a mental game. If we get the first one we would start believing more and then they might start doubting themselves. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s never mission impossible.

Itâ&#x20AC;&#x2122;s just more difficult. â&#x20AC;&#x153;Everyone knows we can do it.

In the Champions League in the last few years there have been so many examples of teams that can change results like this.â&#x20AC;?

United have won 13 out their 16 fixtures in all competitions since Solskjaer took charge in December.

However, despite domestic victories away at Tottenham, Arsenal and Chelsea, Unitedâ&#x20AC;&#x2122;s last away win in the knock-out

phase of the Champions League was in April 2011 against Schalke. â&#x20AC;&#x153;When nobody believes in you there is always that bit of character in yourself that you want to show,â&#x20AC;? Solskjaer added. â&#x20AC;&#x153;Making history is not the motivation. The motivation is going through. These players arenâ&#x20AC;&#x2122;t used to losing.â&#x20AC;?

Solskjaerâ&#x20AC;&#x2122;s side also go into the second leg in Paris with the suspended Paul Pogba and Alexis Sanchez among 10 first-team absentees.

Sanchez will be missing for four to six weeks after going off injured in the 3-2 win over Southampton on Saturday.

Defender Phil Jones is out with illness, while Anthony Martial, Jesse Lingard, Juan Mata, Ander

Herrera, Nemanja Matic and Matteo Darmian are all injured and not among the 20-man squad that travelled to France.

Teenagers Tahith Chong, James Garner, Angel Gomes, Mason Greenwood and Brandon Williams have been included.

Meanwhile, Edinson Cavani faces a late fitness test ahead match for Paris St Germainâ&#x20AC;&#x2122; according to coach Thomas Tuchel.

Etoâ&#x20AC;&#x2122;o Battles â&#x20AC;&#x2DC;Ex-loverâ&#x20AC;&#x2122; over Paternity of 19-year Old Girl Former Premier League footballer Samuel Etoâ&#x20AC;&#x2122;o is facing a new court paternity lawsuit over an alleged lovechild.

Adileusa do Rosario Neves, 39, is fighting to have the ex-Chelsea and Evertonstriker recognised as the father of her 19-year-old daughter, Erika.

Adileusaâ&#x20AC;&#x2122;s lawyer Fernando Osuna confirmed on Tuesday that the hearing would take place at a Madrid court on April 24.

The lawsuit presented by Cape Verde-born Adileusa says she fell pregnant after meeting Etoâ&#x20AC;&#x2122;o - now playing for Qatar SC - in a nightclub in the Spanish capital in 1997 when he was at Leganes on loan from Real Madrid.

She claims Etoâ&#x20AC;&#x2122;o, 37, who has six recognised children with four different woman including his wife Georgette, told her he would â&#x20AC;&#x2DC;act responsiblyâ&#x20AC;&#x2122; soon after she broke the news but then cut off all contact with her.

Erika was born in November 1999 in a hospital in the Spanish capital.

It was not immediately clear on Tuesday if the Cameroonborn footballer has agreed to a voluntary DNA test.

Adileusaâ&#x20AC;&#x2122;s lawyer Fernando Osuna, who has been fighting to get veteran crooner Julio Iglesias to admit he is the father of a 40-year-old Spaniard, said when he launched his court fight against Etoâ&#x20AC;&#x2122;o that he would ask for a DNA sample.

Osuna said the court would decide after the hearing whether it agreed to Erikaâ&#x20AC;&#x2122;s request for a maintenance allowance as an interim measure while it continues to study the paternity claim.

He said: â&#x20AC;&#x2DC;Samuel Etoâ&#x20AC;&#x2122;o has been summoned to the hearing and it will be open to the press and public. â&#x20AC;&#x2DC;Itâ&#x20AC;&#x2122;s not yet clear if he will attend as he is abroad. He has been asked to attend by a legal representative he had when he was living in Majorca. â&#x20AC;&#x2DC;The judge has allowed official communications to be sent to that person because it would have been impossible otherwise for the court to notify him. â&#x20AC;&#x2DC;He has not so far agreed to a voluntary DNA test and I doubt at this stage that he will. â&#x20AC;&#x2DC;At the moment our case is based on things like photographs and affidavits from witnesses but a refusal

by Etoâ&#x20AC;&#x2122;o to agree to a voluntary DNA test would go in our favour. â&#x20AC;&#x2DC;This process is a long one and itâ&#x20AC;&#x2122;s going to go on after Aprilâ&#x20AC;&#x2122;s hearing, but the decision on a maintenance allowance is a key part of this process and the judgeâ&#x20AC;&#x2122;s decision cannot be appealed. â&#x20AC;&#x2DC;The paternity claim would continue after the hearing next month.â&#x20AC;&#x2122; Several photographs of Adileusa with the player, who spent nearly two seasons in the English Premier League before agreeing a three-year deal with Russian club Anzhi that made him the worldâ&#x20AC;&#x2122;s highest paid player, are understood to have been submitted as part of the paternity lawsuit.

Several witnesses are also believed to have signed affidavits confirming the pair were dating at the time.

Adileusa, known to friends as Dee Dee, attacked Etoâ&#x20AC;&#x2122;o in an interview late last year after she announced she was taking legal action.

Recalling the footballerâ&#x20AC;&#x2122;s response when she revealed to him she was pregnant, she said: â&#x20AC;&#x2DC;He told me I was like all the whores who go looking for footballers, that I was a bitch and if I didnâ&#x20AC;&#x2122;t have an abortion I was going to have problems.

UCL RESULTS Real Madrid 1-4 Ajax Dortmund 0-1 Spurs TONIGHT PSG Vs Man Utd Porto Vs Roma

MATCH FACTS r/P DMVC IBT FWFS QSPHSFTTFE UP UIF OFYU round of the Champions League after losing the first leg of a knockout match at home by two or more goals (34 previous cases).

r'PVS PG UIF MBTU Ă WF UXP MFHHFE FODPVOUFST between teams from England and France in the Champions League knockout phase have seen the French side progress.

r1BSJT 4U (FSNBJO IBWF MPTU KVTU POF PG their last 16 Champions League games at home (W10 D5), but that defeat came in the last 16 last season against Real Madrid (1-2).

r14( IBWF TDPSFE HPBMT JO UIFJS MBTU 10 Champions League home games but havenâ&#x20AC;&#x2122;t kept a clean sheet in each of the last five. r .BODIFTUFS 6OJUFE IBWF XPO POMZ POF of their last 10 Champions League knockout games (D3 L6), with this coming against Olympiakos in March 2014 (3-0 at Old Trafford). Their last away win in the knockout stages came eight years ago against Schalke (2-0), in April 2011.

r/POF PG UIF MBTU TJY &OHMJTI TJEFT UP GBDF Paris St-Germain at the Parc des Princes have won. In fact, the only English team to prevail away from home versus PSG were Jose Mourinhoâ&#x20AC;&#x2122;s Chelsea in September 2004 (3-0).

r.BODIFTUFS 6OJUFE IBWF MPTU UIFJS MBTU two Champions League matches (1-2 away in Valencia in the final group stage match, 0-2 defeat to PSG in the first leg of this tie). They havenâ&#x20AC;&#x2122;t lost three games in succession in the competition since March 2005. r5IF IFBWJFTU NBSHJO PG EFGFBU UIBU Manchester United have suffered over a two-legged European tie is by three goals; in the 1957/58 European Cup semi-final versus AC Milan (2-5 on aggregate) and in the 1991/92 Cup Winnersâ&#x20AC;&#x2122; Cup Round Adileusa do Rosario Neves (right) with her 19-year old daughter of 16 against Atletico Madrid (1-4 on Erika ďŹ ghting for recognition from Etoâ&#x20AC;&#x2122;o aggregate).

TR

Wednesday March 6, 2019

UT H

& RE A SO

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Price: N250

MISSILE

Wike to APC

â&#x20AC;&#x153;Those who want to shed blood in Rivers State will never succeed. I donâ&#x20AC;&#x2122;t know why they are plotting to destroy the state. We never caused any problems in the APC. APC fought themselves and pushed themselves out of the race. Now they want to kill everyone in the state. What is the oďŹ&#x20AC;ence of Rivers people that we must all die because the APC excluded themselves from the ballot?â&#x20AC;? â&#x20AC;&#x201C; Rivers State Governor, Nyesom Wike, accusing the All Progressives Congress (APC) of plans to disrupt the elections.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

The Crucial March 9 Elections A

s enshrined in the constitution, the executive powers invested in the President are immense. Some pundits have even said that the Nigerian President is one of the most powerful in the world. This partly explains why a lot of attention is often devoted to the election of the President. Although this is a season of general elections, yet an external observer of the Nigerian scene might be forgiven if he said the elections were all about making a choice between President Muhammadu Buhari of the All Progressives Congress (APC) and the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar.

All the tension seemed to have been generated by the presidential election alone. You may say that this should not be a surprise because it is in the nature of the presidential system of government, which the nation opted for 40 years ago. The President is the chief executive officer of the state; so all eyes are on him for obvious reasons.

Yet, the elections of governors will take place this Saturday in 30 states while elections of legislators will be held in all the states of the federation. These elections are so crucial that their conduct would be another test of the liberal democratic culture in the polity.

In some of the preliminary analyses of the presidential election, one common interpretation of events is that the results in some respects have proved again that ultimately â&#x20AC;&#x153;all politics is local.â&#x20AC;? At least, that is how some of the political upsets have been explained. From all indications, this logic will further play out as the dynamics of local politics come into the fore this weekend.

Come to think of it, most of the peopleâ&#x20AC;&#x2122;s expectations in respect of governance are actually supposed to be met by the state and local governments. The development needs

INEC Chairman, Professor Mahmood Yakubu of the people include basic education for the children, primary healthcare delivery, rural roads, sanitation, water supply and social housing. It is, of course, relatively easier for the people to hold the nearer government accountable on the delivery of the public goods. In Lagos State, for instance, it is easier for Ikorodu residents protesting any governmentâ&#x20AC;&#x2122;s policy to carry their placards to the governorâ&#x20AC;&#x2122;s office in Alausa than to even contemplate going to Abuja. It may be more difficult for people in Yenagoa or Maiduguri to reach nationâ&#x20AC;&#x2122;s capital.

Besides, in this age of a virtual consensus about devolution of powers, the choice of those to be in charge of the states deserves maximum attention. When powers are eventually devolved to the states or regions, greater responsibilities will shift concomitantly to the governments at

the lower tier. The corollary to this proposition is that the quality of those wielding executive and legislative powers becomes a decisive factor of progress in the circumstance. The governors should be imbued with visions and armed with strategies to run sub-national governments. As a complement, the state legislators should be able to muster the capacity to give meaning to the doctrine of separation of powers at that tier of government.

It is unfortunate that in most states, the affairs of government have been conducted as if Baron Montesquieu never existed with his idea of checks and balances among the arms of government. How can you talk of separation of powers when a governor relates to the speaker of the state House of Assembly as if the latter is a personal assistant on legislative matters to the former? So voting any one into an executive or legislative post should not be a blind exercise in the polity.

The focus is often on Abuja when crisis of governance is discussed. In order to have a full picture of this crisis a greater attention should be paid to what is happening in the states. A few characters of unacceptably low quality have actually passed through government houses in some state capitals in different parts of the country since 1999. The importance of March 9 is to prevent a repeat of such in any state.

It is organisationally wrong in a federation for all expectations of governance to be directed at the President. It is odd that a citizen could blame the President for poor sanitation in the city or collapsed rural roads. Even if you elect a superhuman President, the huge deficit in governance will continue to widen unless governance is proportionally improved at the state and local governments levels.

After all, apart from the expected internally generated revenues, the state and local

governments have the statutory responsibilities of managing almost 48% share of the revenues in the federation account. Hardly does economic management take place in most of the states.

In retrospect, the other parties apart from the APC and PDP could have taken participation in the March 9 elections more seriously. It smacks of political frivolity to have dozens of presidential candidates when some of the registered political parties do not have candidates presented for legislative elections in most of the states. Some of the presidential candidates could have effectively sold their ideas (if any) as gubernatorial candidates of their parties as fresh participants in the game and in the light of severely limited resources.

It would, therefore, be interesting to see if the political map of Nigeria that emerged on February 23 will be replicated this Saturday or there would be bandwagon effects of the result of the presidential elections. The political peculiarities and twists in trends in some parts of the country could make predictions a bit hazardous. For instance, in some constituencies factions might have forged a consensus on Buhari or Atiku on February 23; but it could be parting of ways on Saturday. Fresh calculations made since the presidential elections would even make things more complex.

In any case, the premise of the foregoing thoughts is that all votes will count. In this respect, it is imperative for the Independent National Electoral Commission (INEC) to improve on the performance of February 23 in three days from now. All the faults of a fortnight ago should be identified and corrected forthwith.

The crucial nature of this Saturday elections makes it important for the police and other security agencies to up their professionalism by being impartial as they ensure a secure atmosphere for free, fair and credible elections.

Changing the Narrative in Kwara Issa Aremu I declared my intention to run for the governorship of Kwara state on July 18th at Justice Mustapha Akanbi African Hall in Ilorin. There can be no better day to make our intention public than the Mandela Day (MD). In 2019 Kwara state needs liberation through free and fair elections. Nelson Mandela symbolises liberty from oppression and discrimination, having spent 67 years of his 95 years in public life, 27 years of which he was in prison.

From the various contributions of the discussants on the State of (Kwara) State, which preceded my official declaration, it was clear that contrary to official propaganda, Kwara urgently begs for development and salvation from the bad governance of two decades of the PDP. The 2019 gubernatorial election offers a unique historic opportunity to reclaim our state from occupying self-serving leaders. The state begs for selflessness, statesmanship, compassion, managing diversity, equality, inclusiveness, sense of justice and fairness.

A friend once observed rather cheekily that in Kwara, they say, â&#x20AC;&#x153;poverty walks on two legs.â&#x20AC;?

Poverty with one leg was bad enough. To say poverty confidently walks with two legs in a pioneer state of Kwara was sobering for me as a Kwaran.

Sadly, I agree that poverty facts are damning in my state. The National Bureau of Statistics (NBS) in 2016 stated that 112 million Nigerians live in relative poverty in Nigeria, which represents 69%

of the countryâ&#x20AC;&#x2122;s total population, estimated to be 163 million. The northwest and the northeast have the highest poverty rate with 77.7% and 76.3% respectively. The north central is the third with 67% poverty rate; Kwara State, which is within the north central, is 76%. Thus poverty in Kwara was above national average of 67per cent.

Poverty numbers however donâ&#x20AC;&#x2122;t tell the stories of the poor. Income poverty means hunger and anger. The late Hero of Democracy, Bashorun MKO Abiola, once said: â&#x20AC;&#x153;I know the type of music that goes on in the stomach of a hungry man.

It is very unpleasantâ&#x20AC;?. First our party believes that you cannot appreciate mass poverty until you look at the distribution of the state resources.

Mass poverty â&#x20AC;&#x153;with two legsâ&#x20AC;? is inconceivable unless we appreciate the opulence of the few sit-tight ruling PDP few elite in the state.

General Yakubu Gowon created Kwara state in 1967 together with 11 others that included present day Lagos, Rivers and Kano. The respected humble and modest general recently visited Ilorin on commercial flight recently. On landing he saw a private jet, which reportedly just brought Governor Fatai Ahmed from Abuja.

The respected general and statesman curiously sought to know the cost of the parked chartered flight. He was told it was some 4 million Nairaâ&#x20AC;&#x2122;.

Enough to pay some working folks minimum wage of 18,000 per month for some 200 months, at least 5 years. As a frequent traveller, I have never seen my governor and my senator, in a commercial flight in a state with such mass

abysmal poverty. Some serving state aides shuttle in private flights and audaciously travel business classes in a debt-ridden state that put school children on Okada motorcycles every morning.

Kwara budget is almost N200 billion.

There is certainly enough for the modest need of 3 million modest Kwarans but definitely not enough for the greed of the ever privileged and indulged political chieftains in the past 16 years.

The major task of any body that emerges as the governor of Kwara in the weekend election is resource distribution justice.

The1999 constitution says welfare and security of all is the primary purpose of governance, not just welfare of few state officials. Kwara already missed the 2015 MGDs global train because since 2000, elected governors were not on duty. We must be enlisted on SDG 2030 and put an end to poverty. Statesmanship, nation building must give way to brinkmanship. Itâ&#x20AC;&#x2122;s not just the perception.

The PDP government is a government of exclusion, far from elitist in terms of development but like a cult of personality in miss-governance. State capture by one person can come to an end as we have demonstrated in the last presidential/ National Assembly elections when all Kwarans changed the narrative through partnership for good governance. At this weekend gubernatorial election LP remains open to partner Kwaran ship with progressive parties whose missions compliment our partyâ&#x20AC;&#x2122;s ideology of democratic socialism, humanism and social democracy. Indeed the task to be done is to terminate the PDP rule.

We should replace poverty with prosperity, fear and intimidation with peace, solidarity and life.

State of harmony should replace state of fear; vote counts to replace ballot stuffing and ballots snatching. Once we achieve this winners are the over three million Kwaran compatriots and not just me. The 20 years of democracy in Kwara state needs quality control this weekend. Market women and women, tailors, artisans, workers, people living with disabilities, youths said they never saw candidates at their workplaces before asking questions and uplifting the spirit and raising hope.

In place of glossy posters, personalizes jingles and face book text messages, we danced with our people at workplaces on the streets.

Market women need patronage of their goods, improved market access. Indeed in many local governments I visited our people in spite of deprivations were high-spirited to put and end to bad governance, offered prayers to us and even materially supported us. With them we have collectively made a case for good governance during this historic campaign. Even the so-called â&#x20AC;&#x153;good boysâ&#x20AC;? abandoned terror tactics to extort monies to dance with us as we raised hope that solution to unemployment is not through drug abuse and violence but education and decent work. t$PNSBEF "SFNV JT UIF -BCPVS 1BSUZ (PWFSOPSTIJQ $BOEJEBUF JO ,XBSB 4UBUF BOE B .FNCFS PG UIF /BUJPOBM *OTUJUVUF ,VSV +PT

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