WEDNESDAY 3RD APRIL 2019

ExxonMobil Mulls Sale of $3bn Nigerian Assets

Shell pays $6.397bn to Nigeria At six-month peak, oil prices near $70 per barrel

Ejiofor Alike with agency reports United States energy giant, ExxonMobil, has held talks on the sale of some oil and

gas fields in Nigeria as the company focuses on new developments in United States shale and Guyana.

This is coming as over $6.397 billion was paid to

the Nigerian government and its agencies in 2018 by Shell exploration and production companies in Nigeria comprising Shell Petroleum Development Company of

Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo).

Crude oil prices also yesterday continued to ascend

hitting their highest levels of the year with Brent moving closer to $70 a barrel for the first time since late October amid the prospect of tightening supply due to further possible

United States sanctions against Iran and other disruptions.

ExxonMobil had announced earlier this year plans to Continued on page 12

FIRS Targets N750bn from Millionaire Tax Debtors.. Page 47 Wednesday 3 April, 2019 Vol 24. No 8759. Price: N250

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Ndume Adamant, Rolls Out Nine-point Agenda Pledges to reduce privileges attached to Senate president’s office

Deji Elumoye and Onyebuchi Ezigbo in Abuja Former Senate Leader, Senator Ali Ndume, yesterday demonstrated his resolve to look his All Progressives Congress (APC) party

leadership in the face, rolling out a nine-point agenda for the coveted office of Senate president he is vying for in the ninth Senate billed for inauguration in June.

Ndume (APC Borno South), who is Chairman of Senate

Committee on Establishment and State Services, had last week objected to the nomination of Senate Leader, Senator Ahmad Lawan, as the next Senate president by the APC leadership, saying the move was unconstitutional.

Releasing his agenda for the 9th Senate presidency, Ndume, who has been in the National Assembly since 2003, promised to improve upon the performance of the 8th Senate, adding that he would make the Office of the Senate

President less attractive by reducing the unnecessary privileges attached to it.

Promising to uphold the independence of the legislative arm of government, the third term senator promised to "work harmoniously and

inter-dependently with the executive without undermining the principle of separation of powers."

Ndume said he would prioritise and ensure the Continued on page 47

Wike Leads in 13 LGAs as INEC Continues Collation of Results Today Army stays away, police take charge of security PDP hails court’s verdict dismissing AAC’s quest to halt tally Adedayo Akinwale and Alex Enumah in Abuja Rivers State Governor, Chief Nyesom Wike, yesterday took a clear lead in the state’s governorship contest as collation of results of the poll held on March 9 resumed with the governor winning 13 of the 15 local governments of the state declared by the Independent National Electoral Commission (INEC).

Collation of results was suspended by INEC following the takeover of the collation

centre in Port Harcourt, the state capital, by soldiers on March 10.

But INEC announced a couple of weeks ago that it would resume the exercise yesterday, stating that it had results of 17 local governments ready for collation, while it might hold supplementary election in six other local councils on April 13.

Yesterday’s exercise, which continues today, was boosted by the ruling of the Federal Continued on page 12

Court Nullifies Adeleke's Nomination for Osun Gov Poll .. Page 12

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L-R: Managing Director, Sahara Power Group, Mr. Kola Adesina; President, African Development Bank, Dr. Akinwunmi Adesina; President Muhammadu Buhari; and former president, Chief Olusegun Obasanjo, during the inauguration of President Macky Sall of Senegal in Dakar... yesterday

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WEDNESDAY, ͻ˜ ͺ͸͹΁ ˾ T H I S D AY

PAGE TWELVE

Court Nullifies Adeleke’s Nomination for Osun Gov Poll No joy for APC as runner-up in PDP primaries may take over Alex Enumah in Abuja Justice Oathman Musa of an Abuja High Court sitting in Bwari Area Council of Abuja yesterday nullified the nomination of Senator Ademola Adeleke as candidate of the Peoples Democratic Party (PDP) in the September 2018 governorship election in Osun State.

But the decision may not translate to joy for the opposing All Progressives Congress (APC) whose candidate, Alhaji Gboyega Oyetola, won the contest and had his victory reversed by the Governorship Election Petition Tribunal recently, as the runner-up in the PDP primaries might be called upon to pick up Adeleke’s slot.

Adeleke, who represents Osun West senatorial district at the National Assembly, had his candidacy challenged by two chieftains of the All Progressives Congress (APC), Mr. Wahab

Raheem and Mr. Adam Habeeb, who had in 2018 barely few days to the governorship election in Osun State dragged him to court, accusing him of not possessing the requisite educational qualification (secondary school certificate) to contest for the office of governor.

They prayed the court for an order to disqualify Adeleke from participating in the September 22 governorship election in the state on the grounds that he did not possess the requisite educational qualification.

Delivering judgment in the suit yesterday, Justice Musa annulled Adeleke's nomination on the grounds that Adeleke offended section 177 of the 1999 Constitution as amended. The section stipulated that candidates for the position of governor must be educated up to secondary school level.

According to Justice Musa, while the court's findings showed that Adeleke entered secondary

school in 1976, there was no record to show that he actually graduated as his name was no longer seen in the school's register from 1980.

Justice Musa further stated that the result Adeleke attached to his form CF001 which he submitted to the Independent National Electoral Commission (INEC) was fake, as it was found to be different from the one presented to the court by the principal of Ede Muslim High School, Ede, Osun State.

Meanwhile, Adeleke's lawyer, Mr. Nathaniel Oke SAN, has faulted the judgment of Justice Musa on the grounds that the judge erred in law by going out of his way to source for evidence to arrive at his "unjust conclusion."

He submitted that the court erred particularly when it ignored WAEC’s evidence that Adeleke was educated up to secondary school level as required by law.

While he disclosed that they

will immediately commence filing of their appeal against the judgment, the senior lawyer expressed confidence that the judgment cannot stand at appeal court.

It would be recalled that the West African Examinations Council (WAEC) during the court's proceedings confirmed that Adeleke sat for the May/ June examination of the council in 1981.

The council in an affidavit deposed to by one Osindeinde Adewunmi and filed at the registry of the Federal Capital Territory (FCT) High Court confirmed that Adeleke sat for the Senior Secondary School exams in May/ June 1981.

The confirmation was contained in a four paragraph affidavit filed in compliance with the order of Justice Oathman Musa requesting the examination body to confirm whether the governorship candidate sat for the 1981 exams.

Justice Musa had in a ruling delivered on September 11 directed that WAEC should depose an affidavit to either deny or confirm that Adeleke sat for the exams the council conducted at Ede Muslim High School in Ede, Osun State, in 1981.

It equally said the examination body should file the ledger containing results of Ademola and his mates with whom he sat for the examinations, as well the verifying affidavit, within five days of being served with the enrolled order dated September 11.

WAEC, however, in the sworn affidavit confirmed that Adeleke with centre number 19645 and candidate number 149 indeed sat for the Senior Secondary School Certificate Examination in May/June 1981 conducted by the council at Ede Muslim School situate at P.O. Box 6 Yidi Road, Ede, State of Osun.

Accompanying the affidavit

was a ledger containing the result of all candidates (001-221) who sat for the Senior Secondary School Certificate Examination in the said school.

The certified true copy of the ledger, which is marked as exhibit WA1, however, showed that Adeleke sat for only English Language in the examination.

In arguing their case the plaintiffs, through their counsel, Mr. Bankole Akomolafe, on Sept 11 claimed that the PDP candidate did not sit for the WAEC examination in 1981 because the Senior Secondary School Certificate Examination had not been introduced in the country as at then.

They further alleged that the NECO examination he claimed to have sat for could not be genuine because National Examinations Council (NECO) had not been established at the time Adeleke claimed to have sat for the examination.

review the gamut of all that had happened within the period and take a decision. The governorship candidate will also review the situation and take a stand.”

The agent of the PDP and former Deputy Speaker of House of Representatives, Mr. Austin Opara, also commended the process as transparent and expressed happiness with the outcome so far.

Okpara said his party is coasting home peacefully, adding that security agencies and INEC had demonstrated professionalism in their jobs.

He said: “For very obvious reasons, it has been very peaceful.

The trouble makers are not here.

We are coasting home to victory and we will establish a new Rivers State.

“This will also end the anxiety that our people have been made to go through. We need to apologise to Rivers people for the stress they have been put through by a group of people who mismanaged their affairs and

are looking for who to blame.”

Some groups of protesters had defied the state government’s ban on protests and marched in the morning through some parts of the metropolis to protest the collation of results by INEC. The groups, United Niger Deltans for Buhari (UNDB) and Coalition of Non-Governmental Organisation in Rivers State had marched in protest against the collation of the results of the governorship and state assembly elections in the state.

The two groups moved from Air Force Junction on Aba Road through Rumuola to Agip Junction in Port Harcourt but the protest came to an abrupt stop when they clashed with another group opposed to their protest.

What started as a peaceful protest turned bloody around Hotel Presidential-Birabi area of GRA, Port Harcourt, with stones, bottles and later gun freely used.

The timely intervention of the police, however, quelled the situation and restored the

peace of the metropolis.

One of the leaders of the protest, Chief Anabs Sara-Igbe, blamed the state government for the clash.

Sara-Igbe stated that the groups had obtained police permit before embarking on the protest, adding that the government could not use the police to enforce its order.

He said: "We obtained police clearance for the protest and police gave us go ahead order. Some boys were hired to disrupt the protest. They came and shot into the crowd. The government does not have respect for human lives.

"Our boys, after they shot at us, thank God nobody died, came out to challenge the boys but I stopped them. They have shown that they are killers.”

Service. Another $1.253 went to the Department of Petroleum Resources (DPR) for royalties and fees, while $81.5 million was remitted to the Niger Delta Development Commission (NDDC).

Managing Director of SPDC and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, described the reports as a further testament to Shell’s efforts to increase transparency around activities that are important to investors, governments and civil society.

“We are irrevocably committed to transparency just as we are to business integrity part of our core values and central tenets of the business principles that govern the way we do business.”

The Shell Nigeria Briefing Notes detail the activities of the Shell companies in Nigeria for 2018.

These include production, environmental performance, social investment, economic contributions, gas initiatives, deepwater operations, security and Nigerian content development.

States sanctions against Iran and other disruptions.

The gains came on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen the supply cut by the Organisation of Petroleum Exporting Countries (OPEC), and non-OPEC members led by Russia.

Reuters reported that crude rose 0.68 per cent to $62.01 per barrel, Brent was last at $69.11, up 0.14 per cent on the day.

Brent had reached a session peak at $69.50 a barrel, the highest since November 13, while the US West Texas Intermediate (WTI) crude gained 0.8 per cent, at $62.09 per barrel.

The United States is considering more sanctions against Iran, the fourth-largest producer in OPEC, an official said.

While Washington has granted waivers to eight Iranian oil buyers, the number of waivers could be reduced in the future.

Meanwhile, a key crude terminal in Venezuela, also under United States sanctions, has halted operations again due to power supply problems.

Further supply losses from Iran and Venezuela could widen an OPEC-led production cut that took effect in January, designed to prevent a price-sapping rise in inventories.

The top exporter, Saudi Arabia, has cut more than it had agreed to and due to the involuntary declines.

But Russia, the biggest nonOPEC producer in the so-called

WIKE LEADS IN 13 LGAS AS INEC CONTINUES COLLATION OF RESULTS TODAY High Court, sitting in Abuja that dismissed a suit filed by the African Action Congress (AAC) seeking to stop INEC from tallying the results of the poll.

Wike’s party, the Peoples Democratic Party (PDP) quickly hailed the court’s verdict.

The results released by INEC yesterday showed that Wike won 13 of the 15 LGAs, polling 426,279 votes ahead of Mr. Biokpomabo Awara of the AAC, who garnered 129,855 votes, leaving a margin of 296,424.

The AAC had the backing of the All Progressives Congress (APC) that missed out on the ballot because of internal fights that resulted in multiple court judgments that excluded it from the contest.

Although security was tight at the state headquarters of INEC along Aba Road, Port Harcourt, the military was conspicuously absent in the security architecture.

At the commencement of collation, the INEC National

Commissioner in charge of Edo, River and Bayelsa, Mrs. May Agbamuche-Mbu, said the commission was committed to ensuring a smooth and transparent process.

She recalled that security issues led to the suspension of the process in the state and said the commission was poised to bring the process to a logical end.

The State Returning Officer, Professor Teddy Adias, who coordinated the collation exercise, gave the assurance that INEC would be as fast as possible to see a successful completion of the election processes.

In the results so far collated, the PDP won in Ikwerre Local Government Area, the home of Minister of Transportation, Mr. Chibuike Amaechi, where Governor Nyesom Wike polled 14,938 to beat Amaechi’s adopted candidate, AAC’s Biokpomabo Awara, who got 5,660 votes.

Wike also won in Port Harcourt, Andoni, Eleme, Opobo/Nkoro, Bonny, Okrika,

and Omuma Local Government Areas.

Others won by Wike are Tai, Ahoada East, Emohua, Etche and Ogba-Egbema-Ndoni Local Government Areas.

The AAC won in Oyigbo and Akuku-Toru Local Government Areas.

Adias announced the continuation of the collation process today.

Reacting to the collation exercise, state Secretary of AAC and agent for the collation of governorship results for the party, Mr. Nenye Kocha, described the collation process as transparent even though the party was not comfortable with the figures.

He said: “Things are now unveiling. We have been in the dark over what has been happening even when we had thought that we were leading.

“In terms of transparency, the exercise is transparent. But the figures are not what we were expecting.

“As a party, we are going to

Court Dismisses AAC's Suit Seeking Fresh Election in Rivers Meanwhile, Justice Inyang Ekwo Continued on page 47

EXXONMOBIL MULLS SALE OF $3BN NIGERIAN ASSETS boost its capital spending from $26 billion in 2018 to $30 billion in 2019 and up to $35 billion next year as it seeks to develop oilfields in Guyana and the United States Permian basin as well as gas projects in Mozambique and the US Gulf Coast.

In an analyst presentation last month, the company said it would accelerate its divestments to around $15 billion by 2021.

Reuters reported that the potential disposals of assets in Nigeria are expected to include stakes in onshore and offshore fields and could raise up to $3 billion.

“Exxon is actively divesting in Nigeria,” agency report quoted one source who was briefed on the divestment plans as saying.

When contacted, the spokesman of Mobil Producing Nigeria (MPN), a subsidiary of the company, Mr. Oge Udeagha, told THISDAY yesterday: “ExxonMobil is committed to its long-term business operations in Nigeria. As a matter of practice, we don’t comment on business discussions.”

The Irving, Texas-based company is one of the largest oil and gas producers in Nigeria, with 106 operated platforms.

Its oil output in the West African country reached 225,000 barrels per day (bpd) in 2017, according to its website.

Exxon officials have held talks in recent weeks with several Nigerian companies to gauge their interest in the fields.

One source said Exxon was soon due to open a “data room” - which would provide technical information on the fields, such as seismic and production details - in Nigeria.

The discussions focused on a number of onshore fields ExxonMobil shares in joint ventures with Nigerian state oil firm, Nigerian National Petroleum Corporation (NNPC), including Oil Mining Leases (OMLs) 66, 68, 70 and 104.

Exxon’s share of oil production in those fields reached 120,000 bpd in 2017, the last year for which data was available.

Exxon is also weighing the possible sale of stakes in offshore fields in Nigeria, two sources said.

It is looking into offering for sale assets in Equatorial Guinea and Chad, according to two sources.

The federal government has in the last decade supported a drive

by Nigerian independents such as Oando, Seplat and privately held Aiteo to expand their operations in the country as international companies, including Royal Dutch Shell sought to lower their presence.

Shell Pays $6.397bn to Nigerian Govt, Agencies In a related development, over $6.397 billion was paid to the Nigerian government and its agencies in 2018 by Shell exploration and production companies in Nigeria comprising Shell Petroleum Development

Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo).

According to a statement issued yesterday by the company, the payment represents a 48 per cent increase over payments by the companies to Nigerian government in 2017 which was $4.322 billion.

The payments formed part of the four documents released yesterday by the Group Chief Executive Officer of the Royal Dutch Shell, Ben Van Beurden, to signal the global oil giant’s renewed commitment to greater transparency.

The documents are: Shell Sustainability Report; Industry Associations Climate Review; Nigeria Briefing Notes; and Payments to Government Report.

“Shell must remain at the forefront of the drive for greater corporate transparency. We will continue to be more open about what we do and why we do it,” Van Beurden said.

“We want to help people better understand Shell’s performance, values and principles. These reports outline our approach and activities in the crucial areas of sustainability and our relationships with industry associations and governments,” he added In the breakdown of the 2018 payments, the Shell companies paid $3.776 billion to NNPC as production entitlement, while $1.286 billion was paid in taxes to the Federal Inland Revenue

Crude Oil Prices Near $70 Per Barrel Meanwhile, crude oil prices yesterday continued to ascend, hitting their highest levels of the year with Brent moving closer to $70 a barrel for the first time since late October amid the prospect of tightening supply due to further possible United

OPEC+ group, has yet to reach its production-cutting target.

Russian oil output declined to 11.3 million barrels per day (bpd) last month, energy ministry data showed.

While the country’s output was down by around 112,000 bpd from the October 2018 level, Russia has pledged to cut its oil output by 228,000 bpd from that level.

TOP GAINERS SOVETRUST WEMABANK IKEJHOTEL DANGSUGAR NEMINSURE TOP LOSERS BETAGLASS FORTEOIL NIGBREW

NGN NGN 0.02 0.22 0.07 0.77 0.20 2.26 0.80 15.00 0.11 2.33 NGN 6.45 58.35 2.75 24.95 6.10 56.90 VITAFOAM 0.38 3.57 LIVESTOCK 0.06 0.57 HPE Nestle Nig Plc ₦1,400.00 Volume: 376.947 million shares Value: N4.536 billion Deals: 4,018 As at yesterday 2/4/19 See details on Page 39

% 10 10 9.7 5.6 4.9 % 9.9 9.9 9.6 9.6 9.5

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

COMMENT

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

THE ABOLITION OF MAN AND WOMAN Sonnie Ekwowusi argues that no amount of surgery will make a man a woman

S

outh Africa seeks the abolition of man and woman. Under the guise of eliminating â&#x20AC;&#x153;discrimination against women and girls in sportsâ&#x20AC;?, South Africa had both at the United Nations Human Rights Council (UNHRC) meeting held in Geneva between 25 February and 22 March 2019 and the United Nations Convention on the Status of Women (CSW63) held in New York 11-22 March 2019 sought for the blurring of the biological differences between the male and female genders. Or, put differently, South Africa seeks to destroy any biological distinctions between men and women. It serves no useful purpose, the country says, to be pigeonholing boys into manhood and girls into womanhood especially in sports. Manhood and womanhood are aberrational stereotypes that have led to the discrimination against girls and women. Therefore we must do away with the traditional notions of man and female genders. Women and girls should be liberated from the shackles of feminism. This world in which we live should be a genderless or a gender-neutral world.

Women must emancipate themselves from all limits presented by biology or society. Therefore any boy or man who considers himself a girl or a woman irrespective of his biological sex can compete with females in the same sport and afterwards shower together with them in the same bathroom. Conversely, any girl or woman who considers herself a boy or man irrespective of her biological sex can compete with males in the same sport and afterwards shower together with them in the same bathroom. This is the case of South Africa.

South Africa is not well. Her gender hypothesis is a recipe for anthropological cataclysm. Every society derives meaning and purpose from some unchanging self-evident natural truths which are in fact the superstructure for the building of societal ethos. Therefore by seeking for the abolition of the aforesaid unchanging self-evident truths South Africa is simply seeking for the abolition man and woman. By advocating for the deconstruction of the human anthropology and the longstanding teleological tradition South Africa is seeking to enthrone an absurd taxonomy of sexual orientations and gender neutralism capable of tearing the world apart. And the country is not alone in this transgender madness. There are many countries in Europe and America, even in Africa, where trangenderism has gained popular acceptance and practice.

In case you donâ&#x20AC;&#x2122;t know, transgenderism is rooted in radical feminism.

Transgenderism is aimed at undermining the â&#x20AC;&#x153;traditional socializationâ&#x20AC;? of boys into men and girls into women because it denies the biological basis of manhood and womanhood. It teaches that gender is a social construct and not a natural or biological construct, meaning that one is free at any time to choose any gender that suits oneâ&#x20AC;&#x2122;s fancy irrespective of oneâ&#x20AC;&#x2122;s natural and biological gender. So we now live in a new gay and transgender international order. Being a homosexual or a lesbian or being a transgendered person is now synonymous with international civility. A few years ago I attended a United Nations session in New York. While the session was going on a young man was caught by some ladies in a female toilet downstairs. Upon interrogation he simply said that even though externally he looked very much like a man but inside him he was a woman. As President of the U.S, Barack Obama shamelessly issued a directive that any male or female student in the United States can use any male or female bathroom/locker room he or she prefers irrespective of his or her biological sex. In the case of G.G. V Gloucester County School Board, the court held that schools must allow biologically female students who identify themselves as males to use male restrooms.

In some parts of the West the â&#x20AC;&#x153;male toiletâ&#x20AC;? and â&#x20AC;&#x153;female toiletâ&#x20AC;? labels

ZIĂ&#x2030; DIABATĂ&#x2030; IS AN IVORIAN FOOTBALL DEFENDER. HE IS A MAN. BUT HE NOW CLAIMS THAT HE IS NEITHER A MALE NOR A FEMALE. THEREFORE HE PUTS THE PREFIX â&#x20AC;&#x2DC;ZIEâ&#x20AC;&#x2122; BEFORE HIS NAME

affixed on toilet doors of some public schools and public institutions have been pulled down and replaced with the label, â&#x20AC;&#x153;Gender neutral restroomâ&#x20AC;?. Male students who claim they are now females are allowed to undress before female students and shower together with them.

In many parts of the West many people are now approaching the courts to declare that they are neither male nor female. Such persons now put the prefix â&#x20AC;&#x153;ZEâ&#x20AC;? or â&#x20AC;&#x153;ZIEâ&#x20AC;? (instead of the usual Mr. or Mrs) before their names to show that they are neither male nor female. For instance, ZiĂŠ DiabatĂŠ is an Ivorian football defender. He is a man. But he now claims that he is neither a male nor a female. Therefore he puts the prefix â&#x20AC;&#x153;Zieâ&#x20AC;? before his name.

Unfortunately the transgender madness is afflicting some Nigerians.

Just google â&#x20AC;&#x153;Transgender madness in Nigeriaâ&#x20AC;? and you will be shocked by the weird-looking men posing as women that would prop up. One Nigerian man called Clifford Oche is conspicuous online.

Clifford has officially disowned his father. He now claims that he is a woman. He now calls himself Miss Saharra. Although Clifford now dresses like a woman with artificial breasts and all that, his face still betrays him as a man. Clifford went as far as participating in a Miss International Queen Beauty pageant in Pattaya, Thailand in 2011 or so.

According to President of Family Watch International, Sharon Slater, if the transgender madness of South Africa and other countries is allowed to spread across the world it would spell serious disaster for humanity. It would bring about a re-definition of the notions â&#x20AC;&#x153;womenâ&#x20AC;? and â&#x20AC;&#x153;girlsâ&#x20AC;? in the United Nations documents to include men and girls.

Discrimination against â&#x20AC;&#x153;women and girlsâ&#x20AC;? would mean discrimination against transgender â&#x20AC;&#x153;womenâ&#x20AC;? and â&#x20AC;&#x153;girls.â&#x20AC;? Newborn babies would be assigned sex soon after birth irrespective of their biological sex or natural genitalia. Men and boys identifying as women and girls would start invading the female showers, female dressing rooms, female restrooms and by so doing compromise modesty, privacy, and safety of girls and women and above all expose girls and women to rape and sexual exploitation. Women and girls identifying as males would start competing with boys and men in various sports. The import of this is that football clubs such as F.C Barcelona, Chelsea, Manchester United, Arsenal, Enugu Rangers International, Kano Pillars, Nasarawa United, Bendel Insurance, Enyimba and so forth would be forced to include female footballers in their respective squads for any match. Distinctions between male and female in law, medicine, official documents, employment places and so forth would be erased. Traditional family institution and marriages that are based on the union of a male and a female would be destroyed too.

Our abolitionists should understand that no amount of sex reassignment surgery or hormonal treatment or artificial breasts implantation will make a man a woman and vice-versa. The norm for human design is to be conceived either male or female. God created Adam as male and Eve as female. Male and female, he created them. So our abolitionists should stop playing God. Human sexuality is binary by design for the obvious purpose of the reproduction of our species. This principle is self-evident. â&#x20AC;&#x153;XYâ&#x20AC;? and â&#x20AC;&#x153;XXâ&#x20AC;? are genetic markers of male and female, respectively, and are found in every cell of the human body including the brain. Sex is established at conception. It is not a social construct. Allowing men and women to compete together in the same sports or to shower together in the same bathroom or to use the same toilet all in the name of gender equality or gender neutrality is a gross infringement of the dignity, privacy and physical and bodily integrity of women.

NSA AND THE FUTURE OF DSO The intervention of the national security adviser, Mohammed Monguno, is healthy, writes Hamid Hendrix

I

t was a pleasant surprise indeed that the seemingly hopeless situation of the Digital Switch Over (DSO) implementation, suspended in a controversial litigation and inexplicable aloofness of the concerned authority, was eventually salvaged by intelligent intervention at the highest level of government.

In a strategic swoop on the crisis-ridden national project with international significance, the vigilant National Security Adviser (NSA), Major-General Mohammed Baba Gana Monguno (rtd.) deployed the dexterity associated with his professional and within three hours, the national interest prevailed.

Patriotic vigilance of the NSA was responsible for identifying the precarious predicament that had befallen such a strategic project that was well on the way to connecting Nigeria to the next level in the world of broadcasting technology and standards, after series of embarrassing false-starts, and seizing the initiative to restore sanity.

Uniquely empowered by the precision and impact-focused endowments of military intelligence, the army veteran-turned-sentinel of national interest created an enabling environment for DSO critical stakeholders, embroiled in conflicts of competing interests, to come together and heed the call for mutual and voluntary compromise and consensus to get the DSO back on track.

Here was yet another awesome dimension to the multi-faceted versatility in dealing decisively with issues of national security concerns demanded of

the office of the NSA in a democratic dispensation, showcasing subtle conflict resolution capacity driven by specialized negotiation skills and firmness in upholding the national interest.

The remarkable success of the NSAâ&#x20AC;&#x2122;s initiative in an area of civil communications and critical private sector investment with salient economic and international implications spotlights his mental alertness and pro-active capacity, even as he steadily and effectively superintends the deadlier security challenges from terrorist insurgency, political vandalism, rural banditry and kidnapping.

Most impressed about Major General Mongunoâ&#x20AC;&#x2122;s DSO breakthrough, apart from millions of anxious Nigerians awaiting roll-out of the DSO in several states, are the critical stakeholders in the implementation of the project, whose positive response to the NSA intervention indicates a long standing readiness to resolve issues. This is perfectly understandable since each stakeholder has invested in successful implementation of the DSO, which translates any â&#x20AC;&#x153;hiccupâ&#x20AC;? into costly losses and time wastage.

For the avoidance of doubt, at the time of the NSAâ&#x20AC;&#x2122;s intervention, the critical stakeholders were in disarray, drawn away from implementing the DSO by subterranean intrigues and sinister schemes by vested interests whose ulterior motive was to gain undue advantage by sabotaging the steady momentum attained in DSO implementation up to February 2018. The main targets were the implementation agency and regulator, National

Broadcasting Commission (NBC), licensed private signal distributor, Pinnacle Communications Limited and ultimately the DSO Nigeria project, which had been stalled consequently for more than a year.

However, it must be stated that all the critical stakeholders summoned by the NSA â&#x20AC;&#x201C;NBC, Pinnacle Communications Limited, Details Nigeria Limited, operators of GOtvâ&#x20AC;&#x201D;as well as the DSO project were practically on their own as a result of the loud silence and official aloofness inexplicably exhibited by the supervising Ministry of Information and Culture. The hitherto vocal and upbeat Minister, Lai Mohammed curiously vanished from the radar when he was needed most as the de-facto head of the DSO Implementation Committee, in an absurd reversal of role, akin to presiding over the collapse of the DSO in Nigeria.

The timely and patriotic intervention of Mohammed Monguno therefore amounted to a saving grace emergency national rescue initiative that convincingly rekindled hopes of a brighter future for the DSO implementation. It also represented an almost belated expression of unflinching commitment to uphold national interest and safeguard the invaluable strategic economic investments by the Nigerian private sector tied to the DSO, at the highest level of the federal government.

In this context, it is noteworthy that the discreet facilitating role and nationalistic fervor of Sir Lucky Omoluwa, Chairman, Pinnacle Communications Limited, the only licensed private signal distributor

for the DSO Nigeria and largest single investor in the project, was commended during the NSAsummoned meeting that breathed new life into the serially-sabotaged implementation process. This is a far cry from the corporate blackmail and character assassination that was unleashed at the peak of the crisis.

Given the history of two forced postponements of the DSO prior to the Buhari Administrationâ&#x20AC;&#x2122;s corrective agenda that re-started the project in 2016, it is strongly advised that the ONSA maintains its patriotic vigilance over the continued uninterrupted implementation of the project to its logical conclusion.

He will need to beam his search light on the scandalous scarcity of set-top boxes that has grossly limited the envisaged mass coverage of the DSO, especially in Kaduna where the world class high definition digital transmissions of the Pinnacle Broadcast Centre is still viewed by a few privileged households, more than two years after launch.

This is another major setback to the DSO that is not being addressed with the urgency and decisiveness the situation demands even as it bugs the project wherever it is launched. Such issues are disturbing indications of the extent of sabotage and vulnerability of governmentâ&#x20AC;&#x2122;s adhoc implementation arrangements. Without the NSAâ&#x20AC;&#x2122;s recent intervention to rescue the DSO the all important national project would have been deviously sold out!

Hendrix wrote from Kaduna

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T H I S D AY WEDNESDAY, APRIL 3, 2019

EDITORIAL The Killing Of A NSCDC Officer The killers must be brought to justice

T

he recent brutal killing of a Nigeria Security and Civil Defence Corps (NSCDC) operative in Nyanya, Federal Capital Territory (FCT) in the presence of his wife and children was the height of recklessness. It is appalling that policemen who have the responsibility of protecting lives and maintain law and order could take laws into their hands by gruesomely killing a fellow security agent over what ordinarily is a civil offence. From shooting drivers over refusal to pay some token bribes on the road to killing innocent citizens for wearing dreadlocks, law enforcement agents, especially men and officers of the police, are increasingly becoming a menace on the roads. But the bigger challenge is the rate at which they now kill one another.

Mr Jumbo Ogar, an assistant civil defence superintendent was said to be taking his children to school when two police officers accosted him and accused him of violating THAT TWO POLICEMEN traffic regulations.

The development WOULD HACK DOWN resulted in fracas A FELLOW SECURITY in which the two OPERATIVE IN THE started to PRESENCE OF HIS WIFE policemen beat Jumbo, dragging AND CHILDREN ONLY him on the floor until SHOWS THE LEVEL OF he eventually died at DEGENERATION IN THE their station. What worries is that it is not FORCE an isolated incident.

Ogar’s death and the circumstances under which it happened is not only common, it underscores the level of barbarism among most of those who carry guns on behalf of the state.

In the past, security agents, irrespective of the outfits they belonged to, usually had a mutual sense of camaraderie for one another. They accorded one another preferential treatment in recognition of the onerous task of providing security which they jointly shared in various capacities. But the reverse

is now the case as officers of the law turn their guns against one another most often over trivial matters.

Last May, policemen attached to the Rumukpakani Police Station in the Obio/Akpor Local Government Area of Rivers State reportedly shot dead a soldier, who was in mufti, claiming he was an armed robber.

The deceased soldier was said to be coming out of a hotel with a pistol when he was accosted by a team of policemen and one of them pulled the trigger, killing him instantly despite identifying himself. The situation later went out of hand when the colleagues of the slain soldier stormed the Rumukpakani Police Station on a revenge mission, forcing the policemen to flee the station for fear of reprisal.

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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

ith regard to Mr. Ogar, that two policemen would hack down a fellow security operative in the presence of his wife and children only shows the level of degeneration in the force. While it was cheery that the FCT Police Commissioner, Bala Ciroma, paid a condolence visit to NSCDC, with a disclosure that the killers had been arrested and detained, we nevertheless demand a proper investigation that will lead to trial. It is not enough to merely detain the two men; they must immediately be charged to court to face the full wrath of the law. The trial should also be open as that is the only way such frequent, mindless and reckless brutality by security agents particularly the policemen can be put under control.

Meanwhile, we reject the reaction of FCT Commandant of the NSCDC, Solomon Iyamu, that the killing of Ogar should be accepted as “an act of God”.

This is an unprofessional and clearly irresponsible comment from a man who ought to champion the course of justice for both the dead and his traumatised family. While we do not advocate reprisals or any form of hostilities between the two sister agencies over the matter, we insist that the law must take its course and perpetrators must face the music. This is not ‘an act of God’. It is a case of man’s inhumanity to man. And those responsible must pay the price.

TO SEND EMAIL: first name.surname@thisdaylive.com

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CHINEMELU EZEH: EAGER TO SERVE HIS COUNTRY

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e is only 28 years old, but he is already rubbing shoulders with scientists and inventors at the highest level of advanced technological research.

It’s not simply because Chinemelu Ejiamatu Ezeh has, at such an early age, earned a PhD. It’s to do with the field -- Assistive Robotics – in which he has earned his doctorate. It’s also because he earned this from the University College London (UCL), one of the world’s renowned institutions in scientific research.

But, more than anything else, it’s because Dr. Ezeh, who initially studied at Imperial College, London, is the developer of a novel device for sharing control between a wheelchair user and a smart wheelchair.

He has, subsequently, developed a smart wheelchair prototype using Gazebo, the Open Source Robot Operating System (ROS), in a modular standardised distributed architecture as a proof of concept towards a large European collaboration on the smart wheelchair production (ADAPT project).

Dr. Ezeh is the second child of former directorgeneral of the Bureau of Public Procurement (BPP), Emeka M. Ezeh, a civil engineer and one-time president of the Nigerian Society of Engineers (NSE), and Veronica Ezeh, a director at the National Agency for Drug Administration and Control (NAFDAC).

Chinemelu is taking after his elder sister Onyinye, who has MEng Chemical Engineering from Imperial College London and a PhD from University of Reading, UK. His younger brother Olìsa is taking after their civil engineer father and is a final year PhD student of structural engineering of the University of Sheffield, Sheffield, UK. Chinemelu won a UCL PhD scholarship worth £27,500 p.a. for three years (2014-2017). Before then, he had been selected as Google’s Top Black Talent in 2012.

He started showing his talent in science while still a high school student at the Turkish Nile College in Abuja, when he placed 7th in the National Mathematics Olympiad, Nigeria in 2008.

In the course of his doctorate programme, he was co-founder and president of the UCL Robotics Society (2015-2017), during which he led in the design of the protocol for the society, as well as setting the society’s vision, determining leadership structure, building the website and newsletter structure as well as forging collaboration with institutions, including the UCL Computing Department.

During this period, he raised funds for, and took the lead in, the development of the first robot prototype for the society’s participation in Eurobot, an international robotics contest dedicated to universities.

Tommy Odemwingie, tomigie@yahoo.co.uk

NOW THAT BOUTEFLIKA IS GONE

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fter 20 years, Algeria’s leader Abdelaziz Bouteflika has left the old boys Africa leaders club. It is indicative that African leaders never want to leave positions; they have a dogmatic understanding of leadership. They think it is a family stool and power is a clan totem.This is a sad reality that pervades the continent of Africa.

Recently a lot of these leaders have left due to uprisings like the Arab Spring that sent Ben Ali of Tunisia away, or the soldiers uprising that sent Robert Mugabe away. After Bouteflika’s departure, equally propelled by the military, the old boys club would narrow to two prominent leaders - President Nguema of Equatorial Guinea and the Uganda’s Museveni. Recently Bobi Wine has been trying to free Uganda, but it has been a tall order.

All the longevity of the leaders of African president has never been the will of the people.

It has been the will of the military. When the military gets tired, they kick you out.It is shocking the people don’t even have a say when the Arab spring started. It spread to Algeria, but the military still wanted Bouteflika and he stayed. When the military led by Constantine Chiwenga in Zimbabwe took sides with Emerson

“the crocodile” Mnangagwa in his fight with Mrs Grace Mugabe, Mr Mugabe had to go. He had said he would die in power. It is shocking we are still waiting for the real people’s revolution in Africa.All we have seen is the military revolution and it is shocking a group of less than 10% of the population controls the nation.In Algeria the people’s protest didn’t move Bouteflika, it was when the military chief Ahmed Gaid Salah and head of the pouvoir - meaning power in French - called for his resignation that he complied.The military in Algeria had used him and they were tired; he was frail and had suffered a stroke.I predict that as long as militarism exists Algeria can’t be free. The best is to give little concessions to the people. In Nigeria it’s the same. Since the military broke the democratic cycle with the first coup, they have been there; they want to keep power.In effect “power is sweet”. Like Godfrey Binaisa, former President of Uganda after idi Amin affirmed, the “seat is sweet”.Despite the sweetness of power, it can’t be as sweet as the better condition of living for the people.This has always eluded Africans and continues to elude Africans unless we change it. So my message to the people of Algeria is to seek true freedom and true power belongs to the people.

Rufai Oseni, rufaioseni@gmail.com

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5 ) * 4 % ": t WEDNESDAY, APRIL 3, 2019

5 ) * 4 % ": t WEDNESDAY, APRIL 3, 2019

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T H I S D AY ˾ WEDNESDAY APRIL 3, 2019

MIDWEEKPOLITICS

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

NEWSMAKER

Like a Lamb to the Slaughter Nseobong Okon-Ekong writes that Governor Akinwunmi Ambode of Lagos State will be remembered, mainly, for the maturity with which he handled the events that led to aborting his bid for a second term in office

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very governor of Lagos State is ultimately defined by how he handles three issues-security, waste disposal and traffic management. One of these, refuse supervision became a glaring sore point of the outgoing administration of Governor Akinwunmi Ambode. There are arguments in support and against his attempt to introduce Visionscape, an integrated waste management company to take over the better part of the functions of the Lagos Waste Management Agency (LAWMA). At the end of the day, certain interest groups made sure that the Visionscape gambit was viewed as skewed. Ambode had his fingers burnt and Visionscape went down as a fiasco.

The same, however, cannot be said of Ambode’s shot at revamping public transportation in Lagos. The emergence of ultra-modern bus terminals in Lagos, which will go a long way in impacting on the attitude of investors and workers in the commercial transport sector is a major highlight that Ambode will be remembered for. Incidentally, the governor may not be around to witness the inauguration of the major hub of this project at Oshodi.

At every turn, it looks like Ambode’s cardinal sin was going against the interest of powerful shapers of opinion in Lagos. Not necessarily that he did anything wrong against the larger interest of the people of Lagos State. Indeed the governor started well with is ‘Light Up Lagos’ campaign, which illuminated major parts of the metropolis at night, thereby discouraging criminal activities and attempted to provoke a 24-hour economy in Lagos. He also generated more internal revenue and expanded the scope of the annual leisure programme, Lagos Fiesta to cover the five divisions of the state.

For the first time, Epe division was given foremost facelift that impacted positively on the economy on an otherwise sleepy and rural part of the state.

When it became clear that his party, All Progressives Congress (APC) was not supporting him for a second tenure, how he handled the matter turned out to be what could obliterate or perpetuate his legacy. All eyes were on Ambode.

He did not only privately and publicly demonstrate very rare courage but has truly moved on by accepting the outcome of the governorship primaries of the APC which threw up Mr. Babajide Sanwo-Olu, who is now the Governorelect of the state.

At a time when many expected him to behave like a bull in a China shop, destroying every good thing, Ambode made an unusual sacrifice by considering the greater good above his personal gain. Instead he behaved like a lamb to the slaughter, completely helpless and unable to save himself from those who were too powerful for him.

In the build up to the governorship primaries in October last year, there were intense political activities which hitherto created palpable tension in the state but immediately after the said primaries and twists that followed, Ambode in a statewide broadcast congratulated Sanwo-Olu and pledged to work for the victory of the party, a shrewd sacrifice that drastically brought down the tension in the political firmament of the state.

The governor led by example as he commenced another move to galvanise all the critical stakeholders in the party to ensure that the Peoples Democratic Party (PDP) did not take advantage of

Ambode

the fallout in the primaries to clinch power in the state.

During the first weekly Exco meeting after the primaries, Ambode had specifically told cabinet members to forgive and forget the past, and team up with the candidate of the party to ensure victory, which would in turn, according to him, foster the consolidation of the massive gains recorded in the last four years.

While also walking the talk, Governor Ambode immediately ordered that his campaign structure, Ambode Mandate Support Group (AMSG), be collapsed into the Sanwo-Olu Campaign Council which later transformed into Independent Support Group (ICG) to work for the victory of all APC candidates in the state, as well as the re-election of President Muhammadu Buhari and Vice President, Professor Yemi Osinbajo.

From the political front, several other moves were initiated to ensure victory for APC across board, including directing his supporters across the 20 Local Government Areas and 37 Local Council Development Areas (LCDAs) to begin grassroots campaign for the APC governorship candidate, while preaching message of forgiveness and unity.

Speaking to journalists at the Presidential Wing of the Murtala Muhammed International Airport shortly after he accompanied President Buhari to perform the official commissioning of the new Economic Community of West African States (ECOWAS) Border Posts at Seme-Krake joint border post in Badagry, Ambode publicly assured all that he would lead a strong campaign to ensure victory for the President and Sanwo-Olu. At another event during the unveiling of an ultra-modern lecture theater donated to the Lagos State University (LASU) by businessman and philanthropist, Chief Remi Makanjuola, on November 22, 2018, Ambode assured, in the presence of the APC candidate, that Sanwo-Olu would not abandon ongoing

projects in the state but would rather complete and build on the enduring legacies already put in place by his administration.

Aside hosting Sanwo-Olu and his deputy, Dr. Obafemi Hamzat, on a number of occasions at Lagos House together with members of the Governor’s Advisory Council (GAC), and visiting some markets in Lagos with the Vice President to launch the TraderMoni initiative, Governor Ambode also continued with his message of assurance to Lagosians that the APC government remains the best option in 2019.

This assurance was restated by the Governor during the presentation of cheques to over 2,000 beneficiaries of the loan programme of the Lagos State Employment Trust Fund (LSETF) held at LTV Blue Roof, Agidingbi, Ikeja, on November 26, 2018; and during the 12th Annual Town Hall on Security organised by the Lagos State Security Trust Fund on November 28, 2018, at Civic Centre, Ozumba Mbadiwe Avenue, Victoria Island, Lagos.

Yet on Tuesday, December 4, 2018, in Abuja during the National Consultative Forum of the National Committee of Buhari Support Groups, a coordinating body of all the groups campaigning for the re-election of President Muhammadu Buhari and Vice President Osinbajo in 2019, Ambode vigorously campaigned for the party’s presidential and governorship candidates.

At another meeting in Epe few days after, held at the instance of the governor with APC leaders from the division comprising Epe Local Government, Eredo Local Council Development Area (LCDA), Ikosi-Ejirin LCDA and the entire Lagos East Senatorial District, the governor continued his message of unity and specifically urged voters in the division to vote massively for the APC at all levels.

Also, as a member of the National Peace and Reconciliation Committee set up by the APC to pacify aspirants and

members aggrieved with the outcome of the primaries conducted by the party to elect candidates for 2019 general elections, Ambode was visibly involved in trying to pacify aggrieved members of the party in the South West region to queue behind Buhari and Osinbajo, as well as all the candidates of the party.

Also, at a stakeholders’ meeting of APC held at the state secretariat of the party on Acme Road in Ogba on December 17, 2018, Ambode further demonstrated his acceptance of the party’s position with regards to emergence of the governorship candidate when he officially endorsed Sanwo-Olu and Hamzat by raising their hands before scores of party leaders and faithful and wished them well in the general elections.

Interestingly, however, the Governor ’s sacrifice and efforts to unite the party had not gone unnoticed. In fact he has earned accolades from within and outside the state.

Chairman, APC National Peace and Reconciliation Committee for South West, Governor Kashim Shettima of Borno State, described Ambode as the politician of the year for displaying uncommon courage and spirit after the party’s primaries in Lagos.

Another member of the Committee, Senator Sa’ida Sa’ad Bugaje, said Ambode’s actions after the primaries had resonated beyond the state as a learning curve in leadership and sportsmanship for future leaders.

Also, Deputy Governorship candidate of APC for Lagos State, Hamzat, said Ambode deserved commendations for displaying unusual maturity and character which eloquently confirmed him as a man with large heart.

Even the Presidency noticed the sacrifice made by the governor for the unity of the party, with President Muhammadu Buhari commending Ambode for his rare loyalty to the party.

The activities of the governor, however, paid off during the presidential election, with President Buhari winning the state. The president, according to result announced by the Independent National Electoral Commission (INEC), polled 580, 825 votes to beat his closest rival in the race, who polled 448, 015, culminating in a win margin of 132, 810 votes.

Still not satisfied with the margin of victory for APC at the presidential election in the state, Governor Ambode, again, moved to town especially with Sanwo-Olu and Hamzat, canvassing for votes in the stronghold of the opposition.

This also turned out positive for the APC, as the party won the governorship election with a wide margin. In the final result, Sanwo-Olu scored 739, 445 votes, while Jimi Agbaje of the PDP polled 206, 141 votes. The APC also won all the 40 seats in the state house of assembly.

Before the elections, APC National Leader, Asiwaju Bola Ahmed Tinubu, who is believed to be the brain behind the denial of Governor Ambode’s second term, had publicly commended the courage of the governor and others in accepting the outcome of the primaries of the party.

Speaking on December 17, 2018 at a stakeholders’ meeting held at the State Secretariat of the party on Acme Road in Ogba, Tinubu said Ambode, his deputy, Dr. Idiat Adebule, and all the leaders and members of the party had done commendably well in respecting the supremacy of the party.

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T H I S D AY ˾WEDNESDAY APRIL 3, 2019

ANALYSIS

Another Test for the Judiciary George Okoh writes that the legal battle for who represents Bauchi North Senatorial District at the senate questions the integrity of the Nigerian judiciary

Tuggar

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t would be recalled that Adamu Muhammed Bulkachuwa’s name was forwarded to the Independent National Electoral Commission (INEC) as the party’s candidate against popular notion that Usman Abubakar Tuggar won the primary going by documents available to the public. Tuggar has taken the case to court which may ultimately go to the Federal Court of Appeal, where Justice Zainab Adamu Bulkachuwa, (Wife of Adamu Bulkachuwa) presides as President. This in turn has raised questions as to her suitability to handle the case when it eventually comes before her.

A look into history reveals that Justice Bulkachuwa took her oath of office as the 6th President of the second highest court since its inception in 1976, after serving in an acting capacity as the President of the court for about two years following the suspension of the court’s President, Justice Isa Ayo Salami by the National Judicial Council and his eventual retirement November, 2014.

The question being asked is; will she abide by the advice given to her during her swearing-in by then Chief Justice of the Federation, Hon. Justice Aloma Mariam Mukhtar to discharge of the obligation of her office with utmost sense of fair play, impartiality and dedication to duty. Also that as a custodian of the sacred position to shun all forms of political pressures, and discharge her responsibilities in consonance with the oath of office she subscribed to?

Also, there are claims from some stakeholders in the state that the national leadership of the APC swapped Tuggar’s name with Bulkachuwa in the list of candidates submitted to the Independent National Electoral Commission (INEC) with a view to using Adamu Bulkachuwa as an access to his wife, Justice Zainab, whose court handles election petitions among other judicial functions.

Nevertheless, the legal battle continues as Tuggar in a suit he filed before the Federal High Court sitting in Abuja, prayed the court to among others, order the INEC to accept his name as APC’s actual candidate for Bauchi North, in place of Bulkachuwa.

In the suit, marked, FHC/ABJ/ CS/1240/2018 filed by a team of lawyers, including Olisa Agbakoba (SAN) and Mike Ozekhome (SAN), Tuggar stated, in a supporting affidavit, that after the primary, monitored by INEC officials, he won in six out of the seven local government areas that made up the Senatorial District and got a total of

Bulkachuwa

71,308 votes, while Bulkachuwa came second.

Tuggar, who exhibited copies of the primary elections’ results sheets to support his claim, said he was taken aback when leaders of the APC elected to send Bulkachuwa’s name to INEC as the party’s candidate instead of his name, having won the primary and his victory acknowledged by INEC’s officials who were present.

The plaintiff stated that, on realising that Bulkacchuwa’s name was wrongly sent to INEC, he protested and wrote to the party’s National Chairman and other leaders, who, he said, failed to act to rectify the error, a development that informed his decision to approach the court for redress.

Tuggar however prayed the court to declare that, having been duly nominated by the defendant (APC) by virtue of the primary election held on October 3, 2018 and having been confirmed as validly nominated pursuant to the summary of candidates nominated at the primary, as produced by INEC’s representatives who witnessed the primary, the 3rd defendant (INEC) was bound to recognise him as APC’s “true and validly nominated candidate.”

He wants the court to set aside the purported submission of the name of the

Tuggar has taken the case to court which may ultimately go to the Federal Court of Appeal, where Justice Zainab Adamu Bulkachuwa, (Wife of Adamu Bulkachuwa) presides as President.

This in turn has raised questions as to her suitability to handle the case when it eventually comes before her

1st defendant (Bulkachuwa) to INEC by the APC as its candidate and order the electoral body to expunge Bulkachuwa’s name from its record and replace it with his (the plaintiff’s) having won the primary and his victory confirmed by INEC’s representatives in their “summary of candidates nominated at the primaries.”

Tuggar is also praying the court to restrain Bulkachuwa from further parading himself as APC’s candidate; restrain INEC from further recognising Bulkachuwa as the party’s candidate, and to direct the electoral body to recognise him as APC’s true candidate for the Bauchi North Senatorial District seat.

Speaking on the matter, an aide to Tuggar ’s, Umar Waziri disclosed; “In the result sheet made available by INEC officials, Bulkachuwa scored 234 in Gamawa LG, while Tuggar gannered 20, 096 in the same LG. In Giade LG, Bulkachuwa got 1, 539 while Tuggar got 5, 878.

“In Jama’re LG, while Bulkachuwa got 388 votes, Tuggar got 948. In Katagun, Bulkachuwa got 7, 263 and Tuggar got 6, 278. In Shira LG, Bulkachuwa got 367 and Tuggar got 11, 739.

“In Zaki LG, Bulkachuwa scored 804 votes while Tuggar got 12, 280. And in Tas/Gadau LG, Bulkachuwa scored 6, 085 while Tuggar scored 14, 089 votes.

“The trio of Ibrahim Abdullahi, Bauchi State Electoral Commissioner; Baba Bukar Usman, Administrative Secretary, INEC, Bauchi State and Ahmed Alhaji Waziri, Ag. HoD, EPM, Bauchi State all signed a document vindicating Tuggar as the winner of the primary.

“In the document titled: ‘Summary of Candidates Nominated at Political Party Direct Primary Election held on 3rd October, 2018’, Usman Abubakar Tuggar, Hon. Hallilu Dauda Jika and Dr. Danjuma Adamu Dabo were the authentic winners of the direct primary in Bauchi North, Bauchi Central and Bauchi South senatorial districts respectively.

“But when the result got to Abuja, the names of Adamu Mohammed Bulkachuwa and Lawal Yahaya Gumau were used to replace the original winners, Tuggar and Dr. Dabo without any reason.”

The aide recalled that Tuggar, in his petition to the National Headquarters of APC, said: “It is with deep shock that after the primary elections, I heard an announcement by the Committee Chairman, Prof. Ahmed Bakori Mohammed that Adamu Bulkachuwa has been declared the winner”.

However, in a counter-argument,

Bulkachuwa denied Tuggar ’s claims, particularly in relation to the outcome of the primary elections and his choice as the party’s candidate for the seat.

Bulkachuwa said, in a counter affidavit, that he came first in the primary elections with 56,784 votes. A claim disputed by Tuggar ’s camp as a fallacy.

According to them how can Bulkachuwa claim to have scored 56,784 votes which represents the total number of accredited voters for the primary elections in the district. “Adamu Bulkachuwa claims that he won all the 56,784 votes cast during the primary election, signifying that not even his major opponent, Tuggar voted for himself. An aide quipped.

He added: “Upon the submission of the report of the Bauchi State Electoral Committee of the 2nd defendant (APC) to its National Working Committee (NWC), the 2nd defendant’s NWC, at its meeting of 31th October, 2018, after a deliberation and consideration of the report of the Bauchi State Legislative Primary Election Committee, duly and unanimously reaffirmed my victory at the said election” Faced with this scenario, an Abuja based lawyer Adul Omogbe believes that the most honourable thing for Justice Zainab to do is to remove herself from the case in totality by resigning.

According to Omogbe; “There is no doubt that I pity the Honourable Justice.

She is sought of caught in a web. It is a matter of heavy moral burden, she has to choose between her reputation and her job. To preside over a case that involves her husband is not going to be easy, anything short of ruling against her husband will bring into question her neutrality in the whole matter. ”If I were in her shoes, I will simply withdraw from the case by resigning my position as President of the Court of Appeal, after all, that’s what obtains in civilised climes.”

However, a different view shared by a seasoned banker, Omatshola Jide, believes the Honourable Justice should be allowed to do her work without any prejudice. This he said is borne out of the fact, that she is only going to give verdict according to the interpretation of the laws of the land.

While Nigerians especially people of Bauchi North senatorial District wait anxiously of what becomes of the case, it is of a general consensus by majority of Nigerians spoken to that the Justice Zainab’s debacle is a case sturdy that will go down in our legal practice and may make for a re-write of some aspects of our laws.

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FEATURES

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

Tackling Controversies at Ondo State Radiovision Corporation Kayode Fasua in this report, examines the ordeal of Kunle Adebayo, Chairman of Ondo State Radiovision Corporation, who claims to be a reform agent, whereas his accusers see him otherwise

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t pubs, and elsewhere in Akure, the Ondo State capital, the event of about five years ago remains a veritable pun for revelers and sundry cheer-givers. Though a laughable incident, it also reeked of bad governance in the management of a media outfit, more so as the Ondo State Radiovision Corporation (OSRC) is owned by the state government.

Ondo State, experts contend, is far from being distressed if its resources are well managed; bearing in mind that it is one of the oil-producing states that collect monthly oil-derivation subvention from the federation account.

On the fateful day as was recalled with corroborations, five years ago, the TV arm of the broadcast station was beaming a programme for an on-air personality, when an unwanted guest suddenly arrived in the studio. A big, long snake, widely proclaimed as python, reportedly crept in. And in a jiffy, the anchor of the programme shouted, â&#x20AC;&#x2DC;Ejo, ejo! (snake, snake!), to the consternation of viewers at home.

The guest, who was rudely shocked while in the heat of his high-sounding grammatical rendition, along with his anchor, impulsively took to his heels. And then, the viewing shuttered.

This correspondent learnt then that the station was a natural habitat for dangerous reptiles because its surrounding was overgrown with weeds.

Around the same period too, the stationâ&#x20AC;&#x2122;s obsolete generating set reportedly claimed the life of a clerical assistant while trying to manually switch it on, at a time technology was far away from that realm.

But two years ago when Governor Rotimi Akeredolu came on board, he was buffeted with a lot of petitions on the need to revive the comatose OSRC, which was set up 39 years ago by the administration of the first executive governor of the state, Chief Adekunle Ajasin, now deceased.

Akeredolu, in an attempt to do a turnaround maintenance and re-organisation of the TV cum radio station, shut down the outfit for a longish six months, during which he engaged the services of experts to counsel government on the way forward.

The OSRC which comprises a radio and TV station was not alone. The governor extended the review and re-organisation to the Orange Frequency Modulation (FM) station, set up by his immediate predecessor, Dr. Olusegun Mimiko.

While the re-organisation exercise lasted, retired broadcast media experts who include Mr. Soji Alakuro, Mr. Steve Alabi, and Mr. Ayo Ogedengbe, among others, were invited to come and assist in bringing sanity to the wonky scenario.

Also brought on board was Mr. Kunle Adebayo, a media and public relations expert, and an educationist, who eventually emerged as the Chairman of the hitherto OSRC/Orange FM stations. Adebayo was not only appointed a mega-chairman for the stateâ&#x20AC;&#x2122;s broadcast stations, he was also made Senior Special Assistant to Governor Akeredolu on Research and Documentation.

Agitations But less than two years after his appointment, Adebayo is now in the eye of a storm, as some forces within and outside the OSRC have coalesced, pestering the governor to sack him.

The rallying point for Adebayoâ&#x20AC;&#x2122;s traducers, however, appears to be a group known as Sunshine Grassroots Network (SGN). In a petition to Governor Akeredolu by this group, signed by one Joel Ilemobade, the call for the immediate sack of the OSRC boss was ceaselessly amplified.

First, the group described Adebayo as a peacock, one who conducts himself in a rude manner, wondering why such a person should head a media outfit that is designed for friendly dispositions. The group averred that it wondered â&#x20AC;&#x153;why the entire state must be at the mercy of such a rude figure in the administration of its media houses.â&#x20AC;?

Beyond its grievance that Adebayo â&#x20AC;&#x153;is rude and proudâ&#x20AC;?, the SGN also accused him of profligacy

Adebayo, OSRC chairman

and illegal wealth acquisition.

It stated thus in its petition to Akeredolu, a copy of which THISDAY obtained, â&#x20AC;&#x153;You may not be aware, Your Excellency, that Mr. Kunle Adebayo is the richest appointee of government today. â&#x20AC;&#x153;No thanks to his several acquisitions that are scattered across the highbrow areas of the state. Is that also a function of his reforms at Orange FM? You just need to visit Mr. Adebayo's properties to see what a common SSA who had nothing before you became governor had acquired. He was a tenant!â&#x20AC;?

The group, further to its complaints, alleged that Adebayo was fond of collecting money from the coffers of the OSRC/Orange FM Corporation, to attend â&#x20AC;&#x153;non-existent workshops outside the stateâ&#x20AC;?.

But still to its grouse, the SGN is unhappy that Adebayo who is not an indigene of Ondo State, is now looming large in the state. It complained to the governor in its petition, saying, â&#x20AC;&#x153;People are just tired of this oppression and intimidation by a non-indigene in our father's land, largely because of his closeness to you.â&#x20AC;? Adebayo is from Osun State.

Defence But Adebayo, while not willing to join issues with his attackers, in the media, has nonetheless put up his defence in a private missive, a copy of

which THISDAY obtained at the weekend. The Campaign for Democracy (CD) was also petitioned by the SGN, leveraging on the opportunity that its National Secretary, Pastor Ifeanyi Odili, lives in Akure.

When asked to defend himself by Odiliâ&#x20AC;&#x2122;s CD, Adebayo explained that he was a victim of vendetta by those who were opposed to his reform programmes at the OSRC-in line with the mandate given to him by Akeredolu.

He explained his ordeal thus: â&#x20AC;&#x153;One of the highlights was the obvious travesty committed by (the past administration) in staff recruitment, whereby fresh graduates were arbitrarily appointed into the radio service at Level 12 instead of eight that is officially stipulated by government standards. â&#x20AC;&#x153;Secretaries, based on whom you know, even without any qualification, were employed at Level 13. A director, (was also) appointed freshly, at 50 years of age, without any public service experience and put on Level 15. â&#x20AC;&#x153;In our panel days, our management hired two reputable management consultants to study the integrity of the personnel recruitment process earlier done. We got a disturbing report which validated our own finding. Of course, this was submitted to the governor. â&#x20AC;&#x153;At the point of implementation of the panelâ&#x20AC;&#x2122;s

report, we decided to seek a deeper self-conviction.

We invited the Civil Service Commission, Office of Establishment under the Head of Service, and not less than one past Head of Service and two retired permanent secretaries for deliberation and advice. â&#x20AC;&#x153;At the end of the day, the recommendation was that, for justice, fairness and equity to be served, the affected officers must be regularised in line with extant public service employment scheme. This means the officers are to revert to appropriate grade levels, with remuneration commensurate to their new placements. â&#x20AC;&#x153;Not less than 17 irregularly appointed officers were reverted from levels 12-13 entry point to levels eight and nine normal positions, respectively, and it was based on the governorâ&#x20AC;&#x2122;s approval, following the Civil Service Commission, Office of Establishment, and our managementâ&#x20AC;&#x2122;s joint review and recommendations. â&#x20AC;&#x153;The officer whose entry point into service was Level 15 was approved by the governor for termination of appointment with a clause for an offer of contract appointment. ( This is in spite of the fact that the newspaper advertisement for appointment in 2012 stipulated that anyone above 45 years needed not apply). Yet the then system circumvented itself by giving him an appointment in spite of his 1952 date of birth, which he wrote in his own ink!â&#x20AC;?

The OSRC boss added that he was under serious attack because he brought down-to-theearth reforms which include the termination of appointment of some members of staff who had been working with forged certificates, for donkey years.

He noted also that rather than being professional, some of the broadcast stationâ&#x20AC;&#x2122;s editorial staff members had â&#x20AC;&#x153;become politiciansâ&#x20AC;?, thus distorting the regular flow of news; a drift which he altered through regulatory standards embraced even by private-sector media stations.

Curiously too, Adebayo complained that several acts of indiscipline were pervasive in the radio/TV station before his arrival, noting that some persons were even â&#x20AC;&#x153;engaging in sex romp in the office.â&#x20AC;?

On his alleged property acquisition and profligate acts, the OSRC boss said the anti-graft bodies were free to come and look into the books of the station, as he was never a pauper before his appointment, as being speculated by his detractors.

Speaking in the same vein, Odili, the CD scribe, said the unspoken cause of Adebayoâ&#x20AC;&#x2122;s travail was no more than the fact that the latter he not from Ondo State, an ethnic dimension which he said should not be heard of in a federation like Nigeria. â&#x20AC;&#x153;Here is a man, who though is from Osun State, has spent the better part of his life in Ondo State, and he is still being called a non-indigene. â&#x20AC;&#x153;I recall when I was made a special assistant under Governor Olusegun Agagu, some people waged serious war against me, saying, I am from Delta State. Yes, I am from Delta State but I was born and bred in Akure and I schooled here; so you can see the problem with our people,â&#x20AC;?

Odili bemoaned.

Stamp of Approval Meanwhile, the Ondo State Government has risen in defence of embattled Adebayo, saying it is satisfied with his performance as the chairman of OSRC, and that no mischief-maker can mislead the government into sacking him.

In a statement issued by the Senior Special Assistant on Special Duties to the governor, Dr. Oladoyin Odebowale, he said, â&#x20AC;&#x153;Some mischievous elements twist facts and disseminate falsehood to mask the dark intentions of their sponsors. The constant attacks on the person of Mr. Adebayo have reinforced the confidence of the government in his diligence, firmness and focus. â&#x20AC;&#x153;The recent history and the current state of the two state-owned media organisations (OSRC and Orange FM), currently under his able supervision, attests, eloquently, to the nature of his intervention.â&#x20AC;?

21

T H I S D AY Ëž ÍąË&#x153; Ͱ͎ͯ͡

FEATURES

Using Technology to Boost Nigeriaâ&#x20AC;&#x2122;s Real Estate Industry Similoluwa Olunloyo writes that Nigeriaâ&#x20AC;&#x2122;s real estate industry has made significant advancement through the use of technology

Picture of one of the Bridge Peridot building

T

he world is getting smarter; people are getting more connected than ever before, the universe has become so central that with the snap of a finger or as they say with â&#x20AC;?one-clickâ&#x20AC;? you are connected to another person who is more than 5000 kilometres away from where you are. It is safe to say that without technology, most of the innovations that have made life easier would not have been possible.

Whether we like it or we donâ&#x20AC;&#x2122;t, technology has come to stay, and with time, it is going to form the basis of everyday living. When channelled in the right path, technology has proven to improve the quality of life, and when it falls into the wrong hands, the consequences are devastating.

Technology has improved the way we work and live; it will change the future of work as more technologies are going to be deployed at the workplace increasing productivity in the process. Most industries have started incorporating technology into their operations, and you cannot blame them because let's face it, technology is the future.

When thinking about real estate, technology and productivity in one breath, it is very easy for your mind to go to the cutting edge technologies adopted in developing a site right from when the first block is laid to when the building is finally completed. You are not wrong to think that.

Over the years, the real estate industry has undergone a technological transformation of its own. It used to be drawing out plans on broadsheets, but now with the help of 3D imaging, developers have now been able to express their creativity better and more precise.

This improves productivity as less time is spent on drawing out the plan, printing it out and then having to sell the idea to the

client is entirely a different ball game but with 3D, it's faster to get the designs out, and it is self-explanatory.

Almost all if not every part of real estate is touched by technology, from the beginning of the home search to closing deals, every transaction can be done with the click of a button. The internet has proved to be a blessing to the real estate industry, and that is set to continue for a long time.

Technology has also improved productivity when the way houses are designed is factored in, how you may ask. With the new trend of â&#x20AC;&#x153;Smart Housesâ&#x20AC;?, productivity is further enhanced as the automation affords the occupant/owner of the apartment the luxury of focusing on other things instead of having to run the apartment manually.

While the shift to smarter homes is still relatively new to the Nigerian real estate industry, some developers have taken commendable steps into ensuring that they meet up with the global technological standards in the industry.

One of these forward-thinking developers is Hall 7, a real estate development company based in Nigeriaâ&#x20AC;&#x2122;s capital city of Abuja. Established in 2013, Hall 7 Real Estate symbolises hallmark of excellence and perfection in the Real Estate sector. The companyâ&#x20AC;&#x2122;s constant delivery of innovative, top notch and specialised customer experiences has enabled it to set the pace in the Real Estate sector.

Despite being relatively young in the business of real estate, Hall 7 is setting the pace for others to follow. From design to execution, their clients get exactly what was designed and even more by the time the project is completed. The brand says it â&#x20AC;&#x153;doesn't promise but deliversâ&#x20AC;?, this is particularly encouraging considering how a lot of developers promise you the world and then

deliver structures below the expected standard.

Hall 7 is technologically inclined; it is evident that they are when one checks out the projects they have delivered in their six years existence, The Brookshore Residence and The Bridge Peridot are two examples of the companyâ&#x20AC;&#x2122;s technological prowess. The Bridge, for example, is an automated set of apartments and townhouses, where all you need is just the press of a button away. You control lighting, temperature, entertainment systems, and appliances electronically with literally a snap of your fingers. When it comes to security, the bridge peridot is fully secured using some of the best security technologies in the world.

CEO of Hall 7, Olayinka Braimoh, a young and tech-savvy developer had this to say earlier in the year at the commissioning of the bridge peridot. â&#x20AC;&#x153; We want to do things differently, that is why we decided on developing The Bridge Peridot which took more than two years to complete because we wanted it to be of world standard and we are pleased that we achieved that using some cutting edge technologies. We are excited about commissioning this, and we look to doing more for the Nigerian real estate sector in the near futureâ&#x20AC;?.

Living in an automated home like the two mentioned above for apparent reasons improves productivity, as you spend less time on managing your apartment because the houses are automated, you have more time to relax and also focus your energy on other things.

When you look at the success of Hall 7â&#x20AC;&#x2122;s Bridge Peridot, youâ&#x20AC;&#x2122;d see that Nigerians are particular about value. If youâ&#x20AC;&#x2122;re not offering value to the typical Nigerian then whatever you are providing them is meaningless, and you can never fault them for that, because, who doesnâ&#x20AC;&#x2122;t want value anyways.

Real estate companies in Nigeria, Africaâ&#x20AC;&#x2122;s

most populous country have a huge mandate to provide value to their customers because of the capital involved. One just cannot invest a considerable amount of money in a real estate project and not expect value in return. However, most real estate firms in Nigeria have fallen short of that in recent times.

This sometimes stems from their being in a hurry to finish up the project because the client can no longer wait. At other times, itâ&#x20AC;&#x2122;s down to some of the companies in the industry being outrightly incapable of delivering value.

But for Hall 7, the company has been able to excellently tap into technology in its operations and build processes such that each project has something technologically unique about it. In its six years of existence, the firm has been responsible for the development of arguably some of the best and tech-driven neighbourhood in the federal capital territory.

Aside the Bridge Peridot, thereâ&#x20AC;&#x2122;s also the Brook Shore. Like the Bridge Peridot, the Brook Shore is fully automated.

In their execution, Hall 7 employed some of the best technologies available to make sure its buildings are safe, stands the test of time and at the same time gives the customer what they want. In a country where getting value for money is becoming very difficult to find, Hall 7 has made sure that the client gets what they asked for but with some extra features that makes the customerâ&#x20AC;&#x2122;s experience a whole lot better than it would have been.

It is that extra attention to details and those additional features that makes the client know they have gotten value for money and Hall 7 real estate is constantly working to make sure they deliver that value to their customers.

-Olunloyo, a tech and real estate enthusiast wrote from the FCT, Abuja

5 ) * 4 % ": t WEDNESDAY, APRIL 3, 2019

22

UNION BANK OF NIGERIA PLC SUMMARY FINANCIAL INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2018 The directors present the summary financial information of Union Bank of Nigeria PLC and its subsidiary companies (together the "Group") for the year ended 31 December 2018. These summary financial information are derived from the full financial statements for the year ended 31 December 2018 and are not the full financial statements of the Group and the Bank. The full financial statements, from which these summary financial information were derived, will be delivered to the Corporate Affairs Commission within the required deadline. The Bank's Auditors issued an unmodified audit opinion on the full financial statements for the year ended 31 December 2018 from which these summary financial information were derived.

CONSOLIDATED AND SEPARATE STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2018 GROUP

ASSETS Cash and cash equivalents Non-pledged trading assets Pledged assets Derivative assets held for risk management Loans and advances to customers Investment securities Trading properties Investment properties Investment in subsidiaries Property and equipment Intangible assets Deferred tax assets Other assets Defined benefit assets Assets classified as held for sale TOTAL ASSETS

LIABILITIES Derivative liabilities held for risk management Deposits from banks Deposits from customers Current tax liabilities Deferred tax liabilities Other liabilities Employee benefit obligations Debt securities issued Other borrowed funds TOTAL LIABILITIES

BANK

Restated

Restated

Restated

Restated

DEC. 2018

DEC. 2017

01 JAN. 2017

DEC. 2018

DEC. 2017

01 JAN. 2017

N'million

N'million

N'million

N'million

N'million

N'million

233,566 14,271

222,577 20,076

136,194 8,323

159,028 14,271

137,497 20,076

35,536 8,323

48,839 1,029 473,462 199,317 186 5,030

54,079 1,297 517,103 185,658 1,153 4,951

53,430 2,747 507,190 181,720 2,309 4,347

48,839 1,029 428,037 175,068 187 -

54,079 1,297 488,555 175,329 513 -

53,430 2,747 489,890 166,759 1,124 -

59,954 6,045 95,875

55,986 4,344 95,875

52,800 3,374 95,910

10,567 59,830 5,628 95,875

10,567 55,801 3,949 95,875

10,567 52,567 2,859 95,875

324,277 1,610 1,463,461 397 1,463,858

291,692 352 1,455,143 397 1,455,540

202,298 1,643 1,252,285 397 1,252,682

324,003 1,610 1,323,972 325 1,324,297

290,706 352 1,334,596 325 1,334,921

201,838 1,643 1,123,158 325 1,123,483

1,120 99,477 857,593 581 262 169,654 788 13,860 94,891 1,238,226

972 100,131 802,384 524 259 113,730 857 93,211 1,112,068

13 90,266 658,444 465 101 142,074 805 89,514 981,682

1,117 844,413 232 168,827 786 13,860 94,975 1,124,210

972 10,686 796,708 271 110,628 801 95,736 1,015,802

13 4,351 633,827 177 141,861 773 91,812 872,814

EQUITY Share capital and share premium Accumulated losses Other reserves

201,652 (44,380) 62,084

201,652 (16,313) 152,302

400,109 (244,753) 110,533

201,652 (47,736) 46,171

201,652 (21,047) 138,514

400,109 (248,438) 98,998

EQUITY ATTRIBUTABLE TO EQUITYHOLDERS OF THE BANK

219,356

337,641

265,890

200,087

319,119

250,669

Non controlling interest TOTAL EQUITY

6,276 225,632

5,831 343,472

5,111 271,001

200,087

319,119

250,669

1,463,858

1,455,540

1,252,682

1,324,297

1,334,921

1,123,483

TOTAL LIABILITIES AND EQUITY

The full financial statements were approved by the Board of Directors on 14 March 2019 and signed on its behalf by: Cyril Odu (Chairman)

| CONSOLIDATED AND SEPARATE STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | FOR THE YEAR ENDED 31 DECEMBER 2018 | | GROUP BANK Restated | | Dec. 2018 Dec. 2017 Dec. 2018 | N'million N'million N'million | | Gross earnings 145,517 163,844 140,066 | | | Interest income 110,366 124,549 104,792 | Interest expense (55,016) (57,880) (53,867) | Net interest income 55,350 66,669 50,925 | Net impairment credit/(charge) for credit losses 3,374 (25,609) 3,897 | Net interest income after impairment charge for credit losses | | Net fee and commission income | Net trading income Net income from other financial instruments at fair value through profit or | loss | Other operating Income | Non interest income | | Operating Income | Net impairment write-back on other financial assets Net operating income after net impairment write-back on other financial | assets | Personnel expenses | Depreciation of property and equipment | Amortisation of intangible assets | Other operating expenses | Total Expenses | | Profit before tax | Income tax expense | Profit for the year | | Other comprehensive income, net of income tax: | Movement in fair value reserves (equity instruments) | Remeasurement of defined benefit liability | Foreign currency translation differences for foreign operations | Fair value gains/(losses) on investments | Other comprehensive income for the year | | Total comprehensive income for the year | | Profit attributable to: | Equity holders of the Bank | Non-controlling interests | Profit for the year | | Total comprehensive income attributable to: | Equity holders of the Bank | Non-controlling interests | Total comprehensive income for the year

Restated Dec. 2017

N'million 157,566

119,875 (57,554) 62,321 (25,510)

58,724

41,060

54,822

36,811

11,596 8,410

10,207 9,129

10,855 8,410

9,579 9,036

5,556 9,589 35,151

362 19,597 39,295

5,556 10,453 35,274

362 18,714 37,691

93,875

80,355

90,096

74,502

(382)

292

(382)

32

93,493 (34,564) (5,221) (1,762) (33,493) (75,040)

80,648 (29,557) (4,572) (1,466) (31,133) (66,728)

89,714 (32,324) (5,156) (1,543) (32,031) (71,054)

74,534 (27,545) (4,498) (1,280) (29,635) (62,958)

18,453 (360) 18,093

13,919 (911) 13,008

18,660 (222) 18,438

11,576 (337) 11,239

889 226 2,340 (6,186) (2,731)

2,144 7,862 10,006

889 226 (5,971) (4,856)

7,753 7,753

15,362

23,014

13,582

18,992

17,648 445 18,093

12,288 720 13,008

18,438 18,438

11,239 11,239

14,917 445 15,362

22,294 720 23,014

13,582 13,582

18,992 18,992

FRC/2018/IODN/00000018468

| | KEY FINANCIAL INFORMATION | Total non-performing loans & advances

45,434

110,911

38,496

Emeka Emuwa

| Total non-performing loans to total gross loans and advances

8.74%

19.78%

8.13%

20.81%

(Group Managing Director) FRC/2013/CIBN/00000001774

Earnings per share for profit / (loss) from total operations | attributable to equity holders of parent (Basic) | | Customer complaints in financial statements for the year ended 31 December 2018

61k

72k

63k

66k

Amount claimed N'million 109 199 308 204 104

Amount refunded N'million N/A N/A N/A 412 N/A

| | Joe Mbulu | (Chief Financial Officer) | FRC/2014/ICAN/00000006110 | | | | | INDEPENDENT AUDITOR'S REPORT ON THE SUMMARY FINANCIAL INFORMATION | To the Shareholders of Union Bank of Nigeria Plc | | Report on the Summary Financial Information The summary financial information, which comprise the Consolidated and separate statements of financial position as at 31 December, 2018, and the consolidated and | separate profit or loss statements and other comprehensive income are derived from the audited financial statements of Union Bank of Nigeria Plc for the year ended | December 31, 2018. | In our opinion, the accompanying Summary Financial Information are consistent, in all material respects, with the audited financial statements in accordance summary with the Companies and Allied Matters Act, Cap C.20. Laws with of the Federation of Nigeria 2004 and the Banks and Other Financial Institutions Act, Cap B.3, Laws of the Federation of Nigeria 2004. | | Summary Financial Information The summary of the financial Information do not contain all the disclosures required by the international Financial Reporting Standards, the Companies and Allied Act, Cap | C.20 Laws of the Federation of Nigeria, 2004, the Financial Reporting Council of Nigeria Act, 2011, the Banks and Other Financial Institutions Act Cap B.43, Laws of the | Federation of Nigeria, 2004 and other relevant Central Bank of Nigeria guidelines and Circulars. Reading the summary financial information and the auditors report, | thereon, therefore, is not a substitute for reading the audited financial statements and the auditor's report thereon. ||

Description Pending complaints brought forward Complaints received Total Complaints Complaints resolved Unresolved complaints escalated to CBN Unresolved complaints carried forward

Number 4,840 176,305 181,145 174,382 6,763

110,685

Auditorâ&#x20AC;&#x2122;s Responsibility Our responsibility is to express an opinion on whether the summary financial information are consistent, in all material respects, with the audited financial statments based on our procedures which were conducted in accordance with the International Standards on Auditing (ISA) 810, Engagements to Report on Summary Financial Statements.

Report on Other Legal and Regulatory Requirements Compliance with section 27(2) of the Banks and Other Financial Institutions Act of Nigeria and Central Bank Circulars BSD/1/2004 The Bank paid penalties in respect of contraventions of the Banks and Other Financial Institutions Act during the year ended 31 December 2018, amounting to N12million from six (6) contraventions. Details of these contraventions and penalties paid are disclosed in note 47 of the financial statements.

Signed:

The Audited Financial Statements and our Report Thereon We expressed an unmodified audit opinion on the audited financial statements in our report dated 21 March 2019. That report also includes the communication of key audit matters. Key audit matters are those matters that, in our professional judgment were of significance in our audit of the financial statements of the current period. | Kabir O.. Okunlola, FCA Kabir O | FRC/2012/ICAN/00000000428 Directorsâ&#x20AC;&#x2122; Responsibility for the Summary Financial Information FR RC/20122/ICAN A /00000 The directors are responsible for the preparation of the summary financial information in accordance with the Companies and Allied Matters Act of Nigeria, Cap C.20 Laws | For: KPMG P Professional rofe f ssion Services of the Federation of Nigeria, 2004 and the Banks and Other Financial Institutions Act, Cap B.43, Laws of the Federation of Nigeria, 2004 h d Accountants | Chartered 21 March 2019 | | Lagos, Nigeria |

BOARD OF DIRECTORS Cyril Odu (Chairman), Emeka Emuwa (Chief Executive Officer), Obafunke Alade-Adeyefa (Mrs), John Botts (American), Richard Burrett (British), Ian Clyne (Australian), Beatrice A. Hamza Bassey (Mrs), Furera Isma Jumare (Mrs), Kandolo Kasongo (Congolese), Richard Kramer (American), Taimoor Labib (American), Emeka Okonkwo, Adekunle Sonola, Nath Ude

23

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

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T

REPO 14.83% 14.25%

CALL 1-MONTH 3-MONTH

110.50% 12.25% 13.10%

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

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

2 2 , 384.96% 0.27% 0.78%

2 0 1 9

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

7.84% 7.84%

EXCHANGE RATE N306.90/1US DOLLAR* ĚŠ

Quick Takes CAC Lauds NASS on CAMA Bill 2019

The Corporate AďŹ&#x20AC;airs Commission (CAC) has once more applauded the National Assembly on the transmission of the Companies and Allied Matters (CAM) Bill 2019 to the President for assent. This was in consonance with the provision of the Acts Authentication Act Cap. A2, Laws of the Federation of Nigeria 2004.

The CAMA Bill 2019 which seeks to repeal the extant statute (The Companies and Allied Matters Act, Cap C20, Laws of the Federation of Nigeria 2004) and enact another statute in its place represents oneofthebiggestpieceoflegislativereviewinthehistoryofNational Assembly. The assent of the long awaited Bill would remain a monumental achievement, and one of the important reform agenda of the Buhariâ&#x20AC;&#x2122;s administration, according to a statement.

The bill would greatly enhance the ease of starting and growing business in Nigeria, ensure more appropriate regulation for micro, small and medium scale enterprise, enhance transparency and shareholder engagement; align regulatory framework with international best practice for competitiveness and, in the context of a global economy, make Nigeria an investment destination of choice by attracting and growing investments. The new law would allow the right of one person to form a company, make the use of common seal optional for companies, dispense with the statutory declaration of compliance by legal practitioners for registration of companies, disclosure of beneďŹ cial ownership, amongst others.

ETI Injects $64m into Ecobank Nigeria

CLOSING GONG CEREMONY

L-R: Director, Access Bank Plc, Ajoritsedere Awosika; CEO, Nigerian Stock Exchange (NSE), Oscar Onyema; GMD/CEO, Access Bank Plc, Herbert Wigwe; GroupDeputyManagingDirector, RooseveltOgbonna;ExecutiveDirector,PersonalBanking, VictorEtuokwu andExecutiveDirector,RiskManagement,Greg Jobome,duringtheClosingGongceremonybythebankattheNSEinLagosâ&#x20AC;Śrecently

Investors on NASD OTC Gain as Market Rises 2.4% in Q1 Stories by Goddy Egene Investors on the NASD OTC Securities Exchange market are witnessing growth in their investment as the market recorded a gain in the first quarter (Q1) of 2019.

The feat was an extension of the growth recorded in 2018.

NASD OTC Securities Exchange is the approved market for unlisted public securities in Nigeria.

These are public companies not listed on the Nigerian Stock Exchange (NSE). There are currently 39 firms listed on the NASD OTC.

CAPITAL MARKET However, while the NSE equities market suffered a decline of 1.2 per cent in the Q1 of 2019, the NASD OTC appreciated 2.3 per cent as indicated by the Unlisted Securities Index.

In terms of market capitalisation, investors gained N30 billion in Q1 as it moved from N514.80 billion to N544.39 billion. This translated to about 5.8 per cent growth.

The NASD OTC market has been an opportunity for investors in unlisted securities to get liquidity and create wealth.

â&#x20AC;&#x153;Our mission is to provide liquidity and transparency for investors in secondary market for unlisted companies. NASD OTC Securities Exchange supports both bilateral and multilateral trades,â&#x20AC;? it said.

The management of NASD OTC has been making efforts to attracted more listings. Those efforts may yield fruits soon as the Securities and Exchange Commission (SEC) is equally introducing policies that would boost the listing efforts.

At the last Capital Market Committee (CMC) meeting, for instance, market operators advocated for the commission

to take strong actions against company secretaries who aid the trading of shares of unlisted public company outside a SEC recognised platform as required by the law.

Also, the CMC has called for the extension of shares dematerialisation exercise to unlisted companies, which they say would enhance liquidity and ease market processes.

The Managing Director/Chief Executive Officer, NASD Plc, Bola Ajomale, recently said trading activities on the platform had increased tremendously during Continued on page 24

Experts List Survival Strategies for Capital Market Financial market experts and capital market operators have proffered workable solutions to reposition the market for the benefits of all stakeholders.

They gave the recommendations at the 2019 Capital Market Summit hosted by the Association of Securities Dealing Houses of Nigeria (ASHON) in Lagos.

The keynote speaker/Chairman and CEO, Susman and Associates, Dr Shamsusdden Usman, in his paper titled, â&#x20AC;&#x153;Driving Financial Inclusion through the Capital Market,â&#x20AC;? explained that unlike other markets that had fully recovered from the global financial crises of 2007-2008, Nigeriaâ&#x20AC;&#x2122;s capital market had continued to suffer from investor apathy and other sundry issues.

Usman, a former

CAPITAL MARKET Minister of Finance and National Planning, advocated for a complete review of the market in line with the current realities in the global financial market in order to re-address the issue of investor confidence and leverage the market for financial inclusion. He advocated a one-stop financial centres in line with some foreign markets. â&#x20AC;&#x153;In China, interbank bond markets offer special financial bonds for the purpose of increasing size of loans to the SMEs. Capital Market Business Hubs (CMBH) are established in small cities to expand outreach of capital market institutions. In Mexico, the farmer mutual insurance funds provide insurance to their members by pooling

together resources to pay for future indemnities and reinsures itself from major systemic risks that could hurt simultaneously all their members,â&#x20AC;? Usman said.

He stated that he instituted a project called â&#x20AC;&#x2DC;Voice and Voting Powerâ&#x20AC;&#x2122;(VPP) in which major stakeholders are involved with the aim of finding lasting solutions to the challenges facing the capital market.

Usman identified some of VPPâ&#x20AC;&#x2122;s recommendations as development of the commodities exchange ecosystem, encouraging more trading through tax incentives, deepening of Islamic Finance and other non-interest products, development of bond market, reduction of the average costs of issuing equity and debt securities, relaxation of complex legal, regulatory and listing requirements and greater

use of simple and innovative technology among others.

Also speaking, ASHONâ&#x20AC;&#x2122;s Chairman, Chief Patrick Ezeagu, stated that the association had aligned with the policy thrust of the government that every citizen should participate in the financial industry and enjoy its benefits. â&#x20AC;&#x153;The association has been engaging in various advocacy initiatives in line with our objectives. We recognise that the world is fast undergoing some evolution, especially in the way of doing things which is being propelled by the fast pace of technological innovations. â&#x20AC;&#x153;The recognition of the retail investor and expansion of the scope of our business to the hinterlands are key to stimulation Continued on page 24

Africaâ&#x20AC;&#x2122;s Ecobank has injected $64 million into its Nigerian unit after its decision to adopt a diďŹ&#x20AC;erent exchange rate for the naira to the one supported by the central bank aďŹ&#x20AC;ected its capital ratio, it said on Monday. Ecobank said its board decided in November to adopt a market exchange rate of N364 to the dollar, a move away from Nigeriaâ&#x20AC;&#x2122;s oďŹ&#x192;cial exchange rate of N306 to a dollar According to Reuters, the weaker rate is more commonly used in trading and has more liquidity than the oďŹ&#x192;cial exchange rate.

Ecobank Nigeria recently unveiled an initiative for female entrepreneurs. The initiative was designed to recognise women as special and unique customers who require tailor-made service oďŹ&#x20AC;erings. The concept is designed to provide women with the necessary support to help them excel in their endeavours, promote and grow their businesses and generally position them for increased participation, validation and contribution within the society.

UnveilingtheinitiativeinLagos,ManagingDirector,PatrickAkinwuntan, said:â&#x20AC;&#x153;increasingly,weareseeingthechangeintheattitudesofwomen, and their economic viability as individuals and leaders in their ďŹ elds.

Their banking and ďŹ nancial services as a whole, therefore present vast opportunities, if properly understood and managed.â&#x20AC;?

GE Appoints Abubakar Ghana CEO

General Electric (GE) has announced the appointment of Sulemana Abubakar (Abu) as the Chief Executive OďŹ&#x192;cer for GE Ghana. In this position, Abu will play a pivotal role in steering the next phase of strategy and growth for GE in Ghana.

Based in Accra, Abu will lead the development of diverse programs with public and private sector projects and partnerships in Ghana.

Commentingontheappointment,PresidentandCEO,GeneralElectric Africa, Farid Fezoua, reiterated GEâ&#x20AC;&#x2122;s commitment to work together withgovernmentsandprivatesectorinordertodeveloppublicprivate partnerships and sustainable outcome-based solutions. â&#x20AC;&#x153;Localisation is about physically being where the customer is to ensure quality delivery on complex projects, we are committed to delivering innovative solutions while empowering decision-making at a local level, ultimately bringing growth opportunities to all of the stakeholders. â&#x20AC;&#x153;We believe that the appointment of Abu is a further step in making ourAfricavisionareality.Wearealsogladtobringonboardsomeone with the experience and passion required to drive our growth in this region,â&#x20AC;? he said. Abu joined General Electric in 2004 and brings on boardmorethan27yearsofexperienceinestablishinganddirecting global project teams, including planning and deploying business systems in the pharmaceutical and banking sectors and across both developed and developing markets.

â&#x20AC;&#x153;The transfer window is an opportunity as well as a threat for every operator. I donâ&#x20AC;&#x2122;t think that the smaller firms would be under threat. I do think it will be left for the operator to get their acts right. There could be opportunities and also the threat of people moving their Retirement Savings Account (RSA) from a particular operator. But it is also an opportunity to market everybodyâ&#x20AC;?

MD/CEO, FCMB Pensions Limited (formerly Legacy Pension)

Mr. Misbahu Yola

24

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

INVESTORS ON NASD OTC GAIN AS MARKET RISES 2.4% IN Q1 the period.

He said in the last three years, the platform recorded huge capital coming into the country in form of long-term investments, rather than trading capital. â&#x20AC;&#x153;It is not money that came in and went out because they want to make returns, it was money that came in because they want to assist the company grow, so we have seen a lot of growth, and investment and as time goes on, this kind of investment we will seek to make dividend rather than to sell them when the exchange rate moves,â&#x20AC;? he said.

According to him, due to the investment growth witnessed in the past few years, the company decided to launch an enterprise portal- the NASD Enterprise Portal (NASDeP), to boost investment in small enterprises in Nigeria.

EXPERTS LIST SURVIVAL STRATEGIES FOR CAPITAL MARKET and sustainable growth of the capital market. We believe that we should work in tandem with all regulatory institutions to promote financial inclusion,â&#x20AC;?

Ezeagu said. According to him, ASHON decided to make a slight change in its nomenclature to Association of Securities Dealing Houses of Nigeria with a new logo as brand identity to reflect the expanded scope of the membersâ&#x20AC;&#x2122; operations.

He also noted that some eminent Nigerians presented awards were those recognised for outstanding contributions to the growth and development of the market. The panellists who spoke on the perspective of the capital market on financial inclusion underscored the need for financial literacy for all categories of investors, strong advocacy for the market in the government institutions, introduction of simple and affordable market products and deployment of simple technologies. The Securities and Exchange Commission (SEC) recently announced an extension of the deadline for the discontinuation of the issuance of dividend warrants to December 2019.

The move, according to the

Ahmad: Youths Must Cultivate Timely Savings, Investment Culture James Emejo in Abuja The Central Bank of Nigeria (CBN) Deputy Governor, Financial System Stability (FSS), Aishah Ahmad has challenged youths in the country to take advantage of the internet to acquaint themselves with relevant knowledge on financial literacy particularly in the areas of savings and investment returns.

She noted that to create an economy that benefits all Nigerians, as encapsulated by the CBN financial inclusion objectives, the youths, especially students needed to be financially literate, believe in themselves and know the proper ways to earn money as well as understanding what they loved to do.

She spoke when she lectured students of Government Secondary School, Wuse, Abuja, as part of activities to mark the CBN 2019 Global Money Week.

The CBN deputy governor further seized the opportunity to educate the students on the benefits of saving for the future, basic business ethics, risks, among others.

She said: â&#x20AC;&#x153;We need to start to encourage people to bring out their own innate skills and to follow their own path. â&#x20AC;&#x153;My message to youths is do the right thing, study hard, try and understand yourself, who you are, what you would like to do and see how you can use what you like to do to change the world to make it a better place. â&#x20AC;&#x153;And it is also about integrity. it is not only about teaching them about money, it is about the fact that as I am trying to

get this money, as I am trying to be valuable, I should do the right, I should say the truth and stay away from cheating others as well.â&#x20AC;? â&#x20AC;&#x153;I think the simple thing is when you earn, try and save and when you save, try and invest. Not only saving in savings accounts, you must invest for you to get more returns, as you are trying to look for the returns, you have to think about risks.

Thereâ&#x20AC;&#x2122;s something about risks

and returns. The more returns you expect, usually, the more risks you have to take.â&#x20AC;?

She added: â&#x20AC;&#x153;Thereâ&#x20AC;&#x2122;s lots of information today online that was not there when I was doing my study and letâ&#x20AC;&#x2122;s talk to people. One of the quickest ways of learning, one of the easiest ways of not making mistakes is to learn from people that have done it before.â&#x20AC;?

Also speaking during the occasion, Director, Operations

and Banking Relations, New Life Restoration Humanitarian Foundation (NLRHF), Emmanuel Ofili, said the need to impact on peopleâ&#x20AC;&#x2122;s lives necessitated its to partnership with the CBN to make a difference in the lives of the young students.

He said: â&#x20AC;&#x153;Young Nigerians need to learn the right things and have the best orientation about life. This can only come by education, orientation and this kind of programme. The young

people should open themselves for exposure to teachings that can impact them greatly.â&#x20AC;?

NLRHFâ&#x20AC;&#x2122;s Business Manager, Regina Ijeoma Alabi, said the mission of the foundation was to restore the value and dignity of Nigerians who had been neglected, by giving them quality education.

She said the foundation was on ground to donate some educational material to support the students.

BUSINESS MEETING

L-R:Senior Economistand Specialist, Finance, Competitiveness and Innovation, Supo Olusi;Managing Director, PAN Automobile Nigeria Limited, Mr. IbrahimBoyi and Senior Strategy Officer, International Finance Corporation,Mr. Ugo Amoretti, during ameetingbetweenPAN Nigeria Limited andthe World BankGroup inKadunaâ&#x20AC;Śrecently

Experts Provide Recipe for SuccessfulTrading Hamid Ayodeji When trading, the more risk you are willing to take the greater the potential reward, a report has stated.

It, however pointed out that many inexperienced traders have such strategy too far and has led to their downfall.

Risk management is a key factor in becoming a successful Pro in Global Market Trader.

According to a report by Eagles Global Markets (EGM), a brokerage firm that offers its users both MT4 and Cloudtrade platform to enable them trade in dollar or naira traders should

adopt best practices when carrying out their transactions.

It listed other tips for successful trading to include: â&#x20AC;&#x153;Make it affordable: Donâ&#x20AC;&#x2122;t invest more than you can afford to lose. Donâ&#x20AC;&#x2122;t gamble away your hard-earned trading account: invest it in a way that is intelligent and consistent. â&#x20AC;&#x153;Get information and resources from a reliable source: A great resource would the the EGM free weekly webinar with their Chief market analyst, where At the start of the week, they give their clients the heads up on significant events that should drive markets during

the week and discuss market themes for the trading week, and also identify outlook bias and possible trading strategies on focused instruments. â&#x20AC;&#x153;Determine Your Risk Tolerance: This is a personal choice for anyone who plans on trading any market. Most trading instructors will throw out numbers like one per cent, two per cent or up to five per cent of the total value of your account risked on each trade placed, but a lot of your comfort with these numbers is largely based on your experience level.â&#x20AC;?

Continuing, it urged traders

to determine their timing, stating that â&#x20AC;&#x153;knowing the time the global markets open and closes in the different time zones, is essential to become successful trader in the global markets.â&#x20AC;?

Furthermore, it stressed the need for a trader to, â&#x20AC;&#x153;Have a clear plan: This regulates your trading activity. A good trading plan is crucial to your trading success. Look at every angle of the trade and create proper entry and exit strategies. Just like any effective plan, the strategies must be backed by proper tools, timelines, and information. There are a number of order types, such

as the trailing stop, if/then, and order cancels order (OCO), designed to help traders manage risk and protect potential profits. â&#x20AC;&#x153;Know how to analyse the Markets: Price chart plot the recent prices of a currency pair on a graph and provide a snapshot of market movements over a particular period of time. Line charts are one of three common chart types used to view the changes in price movements over a period of time. While Bar and candlestick charts provides detailed information about the price movements of a currency pair.

Group Business Editor

Group Lauds Legislators, Others on New Minimum Wage

Capital Market Editor

Chineme Okafor in Abuja

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

AgriBusiness/Industry Editor

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

Comms/e-Business Editor

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

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

Ă&#x2019;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x17D;Ă&#x; äĂ? (Aviation) Ă&#x153;Ă&#x2122;Ă&#x2014;Ă&#x2122;Ă?Ă?Ă&#x2013;Ă? Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; (Maritime) Ă&#x2039;Ă&#x2014;Ă?Ă? Ă&#x2014;Ă?Ă&#x201D;Ă&#x2122; (Finance) Ă&#x152;Ă?Ă&#x153;Ă? ĂĄĂ&#x2122;Ă&#x201D;Ă&#x201C; (Insurance) Ă&#x2019;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x2014;Ă? Ă&#x2022;Ă&#x2039;Ă?Ă&#x2122;Ă&#x153; Ě&#x2122;(Energy) 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? (ICT)

The Employer of Labour Award (ELA) has applauded members of the National Assembly; the Nigeria Labour Congress (NLC) and the federal ministry of labour and employment, for the roles that played in getting a new minimum wage of N30,000 approved for Nigerian workers.

A statement from ELA quoted its Chief Executive Officer, Dr. Essien Essien, to have expressed great optimism with the strides made in this regards.

Essien, stated that the move

would make the lives of Nigerian workers better. He said this when he made a courtesy call on the Zonal Director of the Federal Ministry of Labour and Employment, South-south Zone Port Harcourt, Dr. John Ominyi. He pointed out that it was a good step in the right direction for the greater Nigeria project.

The statement explained that members of the NLC and senior staff of the ministry were at the meeting.

Recently, President Muhammadu Buhari, had while

receiving the report of the Tripartite Committee on the Review of the National Minimum Wage from the committeeâ&#x20AC;&#x2122;s chairman, Amal Pepple, expressed commitment to ensuring the implementation of the new minimum wage.

Buhari, said he was delighted that the committee had successfully completed its assignment in a peaceful and non-controversial manner, and revealed the government would soon transmit an executive bill

on the wage structure to the National Assembly for a quick passage. â&#x20AC;&#x153;Our plan is to transmit the executive bill to the National Assembly for its passage within the shortest possible time,â&#x20AC;? the president said.

He reportedly explained that the exercise had become necessary, adding that the last review took place in 2011.

According to him: â&#x20AC;&#x153;We all know that, since then, the prices of key consumables have increased and the most vulnerable of our workers are struggling to

make ends meet. â&#x20AC;&#x153;Since 2011, many changes have taken place. Nigeria re-based its GDP to become the largest economy in Africa.

We reported very strong GDP growth rates and exceptional performance of our capital markets. However, these reported successes did not flow into the pockets and homes of majority of Nigerians. â&#x20AC;&#x153;In the last three years, we focused on correcting this deficiency. We are working to create a diversified and inclusive economy,â&#x20AC;? he added.

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

25

Nigerian Agric Export Fees Lowest in Africa, Says NAQS James Emejo in Abuja The Nigeria Agricultural Quarantine Service (NAQS) has declared that the country currently charges one of the lowest fees for the inspection and certification of agricultural produce for export on the continent.

The agency stated this while reacting to a newspaper report wherein a group reportedly alleged that NAQS charged outrageous fee of N5000 per kilogram of agricultural produce packaged for export, pointing out that the exorbitant rate supposedly deters Nigerian exporters and drives them to take their cargoes to a neighbouring country for export.

However, NAQS spokesman, Dr. Chigozie Nwodo, in a statement faulted the claims.

He said: â&#x20AC;&#x153;The truth is that nobody who is conversant

with the valid terms for the export of agricultural commodities would take it with a pinch of salt.â&#x20AC;?

According to him, all user fees chargeable by the agency in connection with the export of plant, animal and aquatic items are clearly listed on the NAQS website.

He said the comprehensive lists of the fees were first published in 2017 and have remained accessible till date, adding that the fees were integrated into the text of the agencyâ&#x20AC;&#x2122;s Service Level Agreement, for the sake of emphasis.

He said: â&#x20AC;&#x153;â&#x20AC;&#x2122;NAQS does not demand or exact charges outside the approved fees under any circumstance. We consider it most uncharitable that the agency would be accused of levying N5000 per kilogram of agricultural produce when we charge less than that amount for a full 20-feet container.â&#x20AC;?

Nwodo stressed that NAQS was pro-business. â&#x20AC;&#x2DC;â&#x20AC;&#x2122;The agency is one of the key drivers of the present administrationâ&#x20AC;&#x2122;s initiative to grow Nigeriaâ&#x20AC;&#x2122;s foreign exchange earnings from non-oil exports. Our solid commitment to encouraging and facilitating agriculturebased export was reflected in the last Presidential Enabling Business Council (PEBEC) report which ranked NAQS as the Second Most Improved MDA and the overall third best in Transparency & Operation Efficiency,â&#x20AC;? he added.

On the contrary, he. Said NAQS user fees charged by Nigeria for the inspection and certification of agricultural items are actually one of the lowest on the continent.

He also advised exporters and agents to consult the agencyâ&#x20AC;&#x2122;s website to ascertain the applicable rates, when in doubt.

NestleTrains 30,000 on Sorghum, Millet Farming As part of effort towards ensuring that it source its raw materials locally, Nestle Nigeria, in partnership with the International Fertiliser Development Centre (IFDC) has trained over 30,000 farmers on sorghum and millet farming in the last two years.

Speaking at an interactive session with journalists in Lagos recently, the Corporate Communications and Public Affairs Manager of Nestle Nigeria, Victoria Uwadoka, who said this, pointed out that the initiative has been beneficial to the food and beverages company.

According to her, farmers now produce high quality grains with less post-harvest losses. This, she said had led to an improvement in their livelihoods. Uwadoka explained: â&#x20AC;&#x153;We believe by creating sustainable value for the society and our stakeholders, we would ensure the continued longevity and success of our business- a concept called â&#x20AC;&#x2DC;Creating Shared Valueâ&#x20AC;&#x2122;.

â&#x20AC;&#x153;In line with our purpose, which is enhancing quality of life and contributing to a healthier future, creating shared value is embedded in everything we do. Our initiatives are founded on three pillars: individuals and families, our communities and the planet.

We work alongside partners and other stakeholders to create value for the individuals and grow our natural ingredients, the families that enjoy our nutritious products, the communities where we live and work, and the planet upon which we all depend.â&#x20AC;?

NestlĂŠ Nigeria recently refurbished facilities in two primary schools to help create a more conducive environment for teaching and learning in its factory communities.

This, according to the company, was in line with its commitment to improving livelihoods in the communities closest to its operations.

Speaking on the development, the Managing Director/ CEO, Nestle Nigeria, Mauricio

Alarcon had said: â&#x20AC;&#x153;We believe that the long term success of our business is dependent on nurturing thriving communities closest to our operations. â&#x20AC;&#x153;We therefore work with our partners to enhance living conditions in the localities where most of our staff, suppliers and host communities reside. This is one of the ways we ensure that everyone connected to our business derives a benefit.

We call this Creating Shared Value.â&#x20AC;?

The company said the recent handover of the refurbished facilities in two schools close to its Abaji and Flowergate factories underlined its efforts towards impacting its factory communities positively.

The two schools, LEA Primary School Manderegi and NUD Primary School, Owode Egba, are part of NestlĂŠ for Healthier Kids (N4HK), a school-based nutrition education initiative supported by the Federal Ministry of Health and the Federal Ministry of Education.

Institute Woos Investors to Aquaculture Oluchi Chibuzor The Nigerian Institute for Oceanography and Marine Research (NIOMR) has stated that aquaculture remains a viable enterprise for investors, saying statistics had shown growth in rate of fish production in the country.

The Acting Executive Director/Chief Executive Officer, NIOMR, Dr. Patricia Anyanwu, disclosed this during a fish value chains training for unemployed youths and women across the nation.

The training facilitated by Senate Committee on Agriculture, held in Lagos recently. â&#x20AC;&#x153;With the recent Statistics

of the Federal Department of Fisheries, you will find that fish production is increasing, Aquaculture is increasing at high rate, and this is the outcome of the trainees of the workshops,â&#x20AC;? Anyanwu said.

She emphasised that this was as a result of the multiplier effects of the diversification efforts of Nigerian youths driving aquaculture initiatives across the country. â&#x20AC;&#x153;The trainees most of them have diversified into various aquaculture value chain like smoking, hatchery production. â&#x20AC;&#x153;One of our trainees is now training others within her community. Gathering

many women together who come together at her farm to learn how to grow fish. That is the multiplier effects of the training programme. â&#x20AC;&#x153;With the starter pack we have given to them, they will expand through economy of scale and begin to make money when they re-invest in the next cycle and in a way boasting fish production in the country,â&#x20AC;? she stated.

The Director, Biotechnology and coordinator of training, Dr. Oresegun Adekunle, said: â&#x20AC;&#x153;Very soon we will be talking about mari-culture, which means we will be raising fish in the sea or not too far from the land or in cages to raise the fish.â&#x20AC;?

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

When Grit Grinds to a Halt!

When Grit Grinds to a Halt!

I had to have a very serious discussion with one of my staff members today. Talking about grit and the necessity for assigned work to get done. My experience has been one excuse after another and nothing really getting done. What I hear is why something cannot be done and not how despite all my challenges, I have been able to get the assigned work done. This attitude really concerns me. You will recall last week, I wrote about participants cheating and not putting the time and the effort required to do the assignments and projects they had been given. These days most people do not want to try or work hard to succeed.

They either want to cut corners or not put in the work required to get the work done.

I remember how passionate and determined I was anytime an assignment was given to me. I thrived on assignments I had no clue about, because cracking it and making it work drove me. I loved the challenge and adrenaline. Giving me work that did not motivate nor challenged me was a nonstarter for me. I struggled with mundane, repetitive work. Mundane and repetitive work, seems to be what many people want today. They do not want anything that makes them think out of the box, innovate and originate.

The question then is, what is grit?

Grit is a distinct combination of passion, resilience, determination, and focus that allows a person to maintain the discipline and optimism to persevere in their goals even in the face of discomfort, rejection, and a lack of visible progress for years, or even decades. â&#x20AC;&#x153;Through extensive research, Angela Duckworth and her team have proven that the common denominator among spelling bee finalists, salespeople and professionals who not only stick with, but improve in their performance is grit.

And according to study after study, people who are smart, talented, kind, curious, generally donâ&#x20AC;&#x2122;t succeed if they donâ&#x20AC;&#x2122;t know how to work hard, remain committed to their goals, and persevere through struggles and failure.â&#x20AC;?

Having grit means you will do all that is humanly possible to achieve your set goals or objectives or mandates that have been set for you for which you agreed to do. It also means you will do everything necessary to succeed irrespective of the challenges. Lolly Daskal says, â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a force so powerful that it allows people to stand out from the rest and succeed even though their skills and experience may be less than top-drawer.â&#x20AC;?

So how do you know if you have grit?

Here are 15 signs from the experts: Youâ&#x20AC;&#x2122;re comfortable being uncomfortable Grit means regularly sacrificing comfort by stepping out of your box. It means you donâ&#x20AC;&#x2122;t have to accept your limits or settle for what you are; you have the ability to create who you want to become.

You stay on course until you succeed If you have grit, you have tremendous focus. You know how to stay on course until you get to where you want to go. If you can keep focused on what you want and keep moving toward it, thatâ&#x20AC;&#x2122;s the way to succeed.

You maintain your commitment even when youâ&#x20AC;&#x2122;re knocked down Having grit means youâ&#x20AC;&#x2122;re fully committed to the cause. You bring together good ideas and hard work, ambition and dedication, and your commitment stands the test through time and troubles.

You use your intuition when most would use their rational mind You trust your gut when you have grit.

Most people think they have to think smarter

to be better, but to have grit is to trust your instinct over logic. If you feel in your heart that something needs to be done, you do it.

You put up a brave front even though youâ&#x20AC;&#x2122;re scared When you have true grit, youâ&#x20AC;&#x2122;re courageous despite your fear. You put up a brave front because you know that everything you want is on the other side of your fear. Grit is finding the courage to do something that terrifies you.

You keep going even when youâ&#x20AC;&#x2122;re not sure you will win Grit tells you itâ&#x20AC;&#x2122;s important to succeed but itâ&#x20AC;&#x2122;s not all about winningâ&#x20AC;&#x201C;the journey is as important as the destination. When you keep going and rely on your grit, it will carry you to places they never knew you could reach.

You donâ&#x20AC;&#x2122;t allow anything to get in your way Having grit means you know itâ&#x20AC;&#x2122;s not enough to hope your success will all work outâ&#x20AC;&#x201C;you have to do whatever it takes to make it happen. Youâ&#x20AC;&#x2122;re determined and prepared for any obstacles that may lie ahead.

Youâ&#x20AC;&#x2122;re strong-minded and mentally tough No thought can take you off course; no challenge will throw you off track. When you have grit, youâ&#x20AC;&#x2122;re strong-minded and mentally tough enough to see possibilities where others cannot.

You donâ&#x20AC;&#x2122;t take embarrassment to heart When you have grit, you donâ&#x20AC;&#x2122;t get humiliated or mortified by mistakes youâ&#x20AC;&#x2122;ve made or failures youâ&#x20AC;&#x2122;ve encountered. You refuse to give up, give in or get outâ&#x20AC;&#x201C;when you know what you want you let nothing get in your way.

You accept support but you donâ&#x20AC;&#x2122;t rely on it Grit means you can use help and accept it when itâ&#x20AC;&#x2122;s available, but if not, you get it done on your own. Itâ&#x20AC;&#x2122;s great to have help, but itâ&#x20AC;&#x2122;s not the deciding factor when youâ&#x20AC;&#x2122;re deciding whether to proceed with a plan.

You learn as you go and stay flexible in your thinking Grit makes you a constant learner, seeker, explorer. Learning is something you do with every new experience and encounter, and your mind is open to new discoveries.

You forego perfection for high standards You donâ&#x20AC;&#x2122;t get bogged down trying to be perfect. Instead, you strive for something thatâ&#x20AC;&#x2122;s actually attainable: quality, being the best, giving with excellence and maintaining high standards.

You stay positive even when the situation is negative Grit means you may experience negative circumstances and attitudes, but you donâ&#x20AC;&#x2122;t allow the negativity to keep you down.

Grit leads you to a conscious choice to stay positive when things are negative.

You care about your return on investment Youâ&#x20AC;&#x2122;re all about putting your heart and soul into something and getting something out as a result of your efforts, but that return isnâ&#x20AC;&#x2122;t always financial. It may be in the form of new knowledge or experiences.

Your payoffs are measured in meaning.

You will do anything, but not everything Grit means that you know whatâ&#x20AC;&#x2122;s most important, you understand the difference between being busy and being successful, and you align your actions to your priorities because thatâ&#x20AC;&#x2122;s the approach that best moves you toward your goals.

Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

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Uduk: Capital Market Has Many Attractive Products The Acting Director General of the Securities and Exchange Commission, Ms. Mary Uduk, recently spoke to journalists on various issues after the first Capital Market Committee meeting in Lagos. Goddy Egene presents the excerpts: SECâ&#x20AC;&#x2122;s efforts to ensure shareholders embrace electronic dividend has been on for some time now. How many people have mandated for the e-dividend and what is the quantum of unclaimed dividends?

About one year ago, the SEC stopped the free registration exercise, specifically 31st of March 2018. At that time, 2.2 million investors had mandated. It is interesting to observe that just because the free registration stopped, members of the pubic appear not to come forward again.

As at March 21, only about 2.7 million investors had mandated their accounts. There is a strategy that is going to be reviewed and developed by the market in concert with the banks and registrars to entice investors. The fee for every approved mandate is N150 but investors are not going to be asked to pay the amount before they are registered. If you have 120 accounts, you just mandate them company by company and the only thing you will pay per company is N150 even if you have dividend of up to N200, 000. It is just a processing fee for maintaining the portal and investors are not to be asked to pay at the point. Unclaimed dividend in the market is being tackled in minimum of two solid approaches. One of them is e-dividend.

For every account that is mandated all accrued dividends is automatically paid. Then there is the use of regularisation of multiple accounts. We discovered that while dividend is growing and it is increasing unclaimed dividends, the pace is not as satisfactory as when we observe that multiple accounts which have not been claimed for many years are still being paid dividends.

Those people that have multiple accounts can only lay claim on dividends in one account, all the others will keep warehousing dividends as long as they are not regularised. We want to see how far the registrars can go in regularising the multiple accounts so that we can have a specific figure for the unclaimed dividends. We have a provision in CAMA that if unclaimed dividends stay for a specified time, those dividends should be returned to the paying company and that is what the Commission is doing. Now, any unclaimed dividends which is 15 months and above us returned to the paying company. That way the shareholders also benefit as those monies could be invested by the company and result in more interest for the shareholders.

Recently SEC gave a directive on ďŹ delity bond, what is the level of compliance?

Fidelity bond is one of the requirements for all market operators, they have to file fidelity bonds every year. It runs from January to December of every calendar year. We observed that some people were not complying hence we issued a circular. In that circular, the management gave a reprieve of 45 days. We have started compiling the list of those that have not filed, those that filed after the date that we gave as the deadline.

All of those persons will be sanctioned according to the provisions of the law.

The gambling industry is doing very well, is the SEC looking at introducing a product that will allow youths to invest money as is done in some advanced countries?

We presently do not have any laws on gambling.

But we have mutual funds and it covers every asset in the capital market. Whether it is money market, insurance, capital market, real estate, infrastructure among others. The youths can invest in these, rather than leave your money in savings account you can invest in mutual funds. It runs like savings account and after three months you can withdraw your money same way as you do with the banks. We donâ&#x20AC;&#x2122;t have to go and gamble, you need to let them know that there are so many products in the capital market that they can invest in rather than going to gamble and losing their money. We have various products that are very attractive where they can invest their money. We have commenced investor education and enlightenment for Nigerians to understand the benefit of these funds which gives more interest that saving money in bank account.

Whatâ&#x20AC;&#x2122;s the update on margin loans so we

it comes to that area. We donâ&#x20AC;&#x2122;t want to get in the way of innovation. Regulators across the globe are paying attention to what is happening in this sphere. On the one hand they want to protect investors and on the other hand they want to support innovation. On all fronts, the SEC is looking at development in the fintech space. There is also ongoing collaboration led by the CBN, there is an inter-agency committee on virtual currencies on which the SEC is working with other market operators. In no distant time, the SEC will come up with regulations on crypto currencies. We are embarking on investor education so that investors understand what it is all about.

Market depends on several factors, some are global and others are domestic. Some are industrial and some are also in terms of the companyâ&#x20AC;&#x2122;s performance. You can see sectors that are doing better, you can also see specific sectors that are doing well. Around election, it is possible people have different expectations.

Some want to keep their money, some sell their shares to vie for political office. But as elections are over we expect that some of those people that withdrew prior to elections will come back to the market. Around elections in the history of Nigeria, we will see that there is usually a lull in the market. The statistics are not that bad, the day after the elections the market actually moved up and around sub national elections we saw that market came down a bit. There was a time we did 42 per cent and there was also a time we did -17 per cent, there would always be sentiments. What is very important about the market is that in the long run, even though you have fluctuations, do you have something that is looking upwards? The stock exchange index started in 1984 with 100, today we are in over 30,000. There will definitely be ups and downs.

Uduk

donâ&#x20AC;&#x2122;t have the kind of abuses we saw prior to 2008? What is the discussion with CBN so that processes are not abused?

Actually when there were such abuses, we did not have a comprehensive margin loans laws but now we have specific rules. After the meltdown, the SEC and the CBN came up with a rule on margin loans and it was after that we came up with a comprehensive rules on margin loans. But after the issuance of the rules, we discovered that there was almost zero activities on margin loans.

That is why the market concluded that it appears the rules were too stringent and suggested the need to look at the rules again with possibility of amending it. Due to our experience of the past, we excluded banking shares from the list

We presently do not have any laws on gambling. But we have mutual funds and it covers every asset in the capital market.

Whether it is money market, insurance, capital market, real estate, infrastructure among others. The youths can invest in these, rather than leave your money in savings account you can invest in mutual funds. It runs like savings account and after three months you can withdraw your money same way as you do with the banks

of margin loans but we also found out that in other jurisdictions you can give loans to buy bank shares. Due to that we now started engaging with CBN, the engagement is still going on and we believe that at the end of the day we will be able to amend our rules.

What is the update on MTN listing?

MTN might be in the market but it depends on the aspect of the market. We all know that a company cannot come to the market unless they are a public company and as we speak, MTN has not yet completed the process. There is a process to follow in coming to the market.

First, you have to be a public company and you need to have your shares registered with the commission. However, I do know MTN had issues with the Nigerian government and they have been trying to sort it out. I think they have sorted out one aspect of that. I donâ&#x20AC;&#x2122;t think the other part has been sorted out and because they have committed to coming to the market, they have decided to come through listing by introduction. I know that they are working hard towards that. They have visited the commission to explain that and they also assured us that after the listing by introduction, once they are able to sort out the other issues they can no come fully.

Right now, there is no formal application from them, but people need to understand that there are many processes for coming to the market.

It can be either through listing by introduction of initial public offering. When they file their application we will be able to give you the right information.

What is the position of SEC in regulating crypto currencies?

In the last CMC we talked about it and inaugurated a Committee in respect of FinTech.

The committee was charged with coming up with a FinTech Road map on the capital market community and we also informed you that we now have a dedicated Division in the Commission on that. The Committee is working assiduously to decide what regulations we can make in this area. The commission has the mandate to protect investors. We know that crypto assets are volatile unlike ordinary assets. Since January 2017, we have been asking investors to be vigilant when

What has been the contribution of the market to the economy?

In terms of the contribution of the market to the economy we can look at it in terms of capitalisation ratio as well as how many new issuances were made in the market. We know capitalisation ratio has increased it should be about 21 to 22 per cent when you talk about equities and bonds. Last year, we were able to make more corporate bond issuance than the previous year. In 2017 we did about N23 billion and in 2018 we did about 323 billion. Going forward, we are hoping to do better.

Given the fact that we are working to reduce transaction cost as well as time to market, we also advise sub nationals to come to the market so that we can have new issuances in the market.

We have seen quite a number of activities in the bond segment recently and we are hoping that we will see more in the equities segment too. Not just private placement and rights issue, we also hope we will see more of initial public offerings.

You recently organised the maiden awards for the Committees in the capital market, is there plan to sustain it?

My only regret is that the award took this long to hold. The reason being that the regulator cannot work on its own, we require the support of the capital market operators who are one of the most important stakeholders in the market. I have been in this market for a while and I know that capital market operators are key stakeholders to the development and growth in the market.

They have been there over the years. They are helping as much as they can to ensure the market in revived and they are doing that in partnership with the SEC. If we did not have their cooperation and partnership it would have been difficult. And a lot of the time they work with us pro bono.

We set up these committees after the launch of the 10-year capital market master plan. A lot of them work in the various committees pro bono.

Sometimes they have to travel and they do so at their expense. They bring their experiences to bear in the work that they do and we thought that it was important to let them know that we appreciate all that they do. We thought it was important to let them know that we appreciate what they do and we think it is the beginning of such partnership in the market.

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Izuwah: Infrastructure, Nigeriaâ&#x20AC;&#x2122;s Biggest Challenge The Director General, Infrastructure Concession Regulatory Commission, Mr. Chidi Izuwah, in this interview with Nume Ekeghe, speaks on the federal governmentâ&#x20AC;&#x2122;s plan to reduce the countryâ&#x20AC;&#x2122;s infrastructural deficit through public private partnership. Excerpts: How has it been since you came into ofďŹ ce?

It has been very interesting. The biggest challenge I have come across is infrastructure. Until we solve the infrastructure challenge Nigeria faces, we may not be able to deliver the Nigeria of our dreams. One thing that is very important is that all the capital is not available with the government. When you look at our budget, and look at our Gross Domestic Product (GDP), the budget is nearly about 10 per cent of our GDP. So you say to yourself, what else runs the economy? So we require huge infusion of private capital into our infrastructural space. And that is what ICRC is driving and that is what I have been doing to make sure that we bring more private sector to fund infrastructure. If you recall on 27th of March 2019, the Federal Executive Council (FEC), set up a committee to focus on infrastructure financing and it is a very serious matter. So the â&#x20AC;&#x2DC;NextLevelâ&#x20AC;&#x2122; for Nigeria, with President Muhammadu Buhari is infrastructure. Imagine a Nigeria with good roads, good railways, hospitals, and universities - that is the Nigeria of our dream. And the only way we can deliver that dream is to partner with the private sector because there isnâ&#x20AC;&#x2122;t enough money in the budget to be able to deliver all the things we want. And as we are looking; look at our population, itâ&#x20AC;&#x2122;s galloping and our needs are growing. So partnering with the private sector through public private partnership (PPP) is one major area and other countries have done it.

If you go to Malaysia, Philippines, Australia, Canada, and India, the massive investment they have in infrastructure is done by partnership with the private sector.

So, driving that private sector participation is very key to deliver an infrastructural sufficient Nigeria. And if we do not have an infrastructural sufficient Nigeria, we will not be able to realise and create peace. If you look at the problems in the north-east, it is mainly caused by poverty.

But once you have infrastructure, people will get involved in the economy and they are able to generate income. And once they generate income, they will not be interested in troubles.

So all these tensions we hear about is all driven around infrastructural development.

Once we have good infrastructure, then the world will come to us. Because we have a large population which transcends to large market, but it will require infrastructure to bring about ease of doing business, which his excellency is driving is around infrastructure. This involves having sufficient power, transportation, schools, hospitals, etc. Thatâ&#x20AC;&#x2122;s what infrastructure is all about and thatâ&#x20AC;&#x2122;s what I see as a major goal.

What are the PPP arrangement to help reduce power deďŹ cit in Nigeria?

Look at Mambila power station, it is huge! It will produce close to 3,000 megawatts of power; look at Zungeru power project, it is almost completed and that is almost 1,000 megawatts of power to be generated. And then we have all the other large projects happening around the country. Then you look at what transmission is also doing; because one thing is to produce the power, another thing is to move them from one part of the country to the other. Look at what the government is doing about the power sector support fund, which is around the liquidity challenges of the power sector faces, and be able to be able to improve them. Look at the eligible customer intervention. So power is significantly improving, itâ&#x20AC;&#x2122;s not like the way it used to be before in terms of the volume of power available and what is transmitted. It is not yet perfect, but once there is a will, there will definitely be a way. And you cannot doubt the will of President Muhammadu Buhari, to leave a legacy for Nigerians concerning power, and that effort is on-going.

Still on infrastructure and relating to transportation, what is the update on having a National Carrier?

The national carrier was suspended because of the elections because it is not very easy to attract investors during an election. An election creates investment uncertainty. So, the Minister

they are making money but why shouldnâ&#x20AC;&#x2122;t we make same and employ our own pilots.

Look at what Nigerian Airways used to be in those days. We need to bring back that feeling to Nigeria.

That sense of pride, that sense of a national carrier. The Egyptians played a football match in Asaba few days ago, who brought them to Nigeria? Egyptian Air! When Nigeria is to play football outside the country, who takes them there? It was a good feeling that we beat Egyptians in the football game, but they beat us in other things.

So it is all about national pride. They were very proud of their national carrier waiting for them at the airport to pick them back, so why shouldnâ&#x20AC;&#x2122;t we build our national pride that would be flying our footballers, president and ministers all around the world? That is what this is all about - national pride, which is very important for all Nigerians.

How is the ICRC supporting the inďŹ&#x201A;ow of foreign direct investments in the country?

If you look, the ICRC was the first organisations to create a PPP disclosure portal. So that has created a massive confidence in the investment community that the ICRC process is a transparent process. If you look at that portal, 70 per cent of the traffic is from outside the country.

So people want to invest, which is huge. We donâ&#x20AC;&#x2122;t have an infrastructural problem. And Iâ&#x20AC;&#x2122;ll keep telling people that what you have is an opportunity to invest and make money.

Just like what we had in our telecoms, people who invested in the telecoms sector made money. That is why the portfolio investors and all the foreigners are bringing their capital to be able to take massive advantage of all the opportunities in Nigeria.

Izuwah

made it very clear that it is a PPP and we are going to support that effort. Nigeria has 200 million people. Ethiopia has a national carrier, Ivory coast has a national carrier, Namibia of two million people has a national carrier, so why donâ&#x20AC;&#x2122;t we have a national carrier? If you look at most airlines in the world, why do they come to Nigeria? They are here because they are making money.

So what are we doing? Why they are making money is that we are exporting jobs to them.

What is happening in the aviation sector now is not only about the national carrier, there is an entire transformation program for the national aviation sector. There are the airports which are going to be transitioned to make world class, so that they would be about the best in the world.

There is the Maintain Repair Overhaul (MRO) facility. We donâ&#x20AC;&#x2122;t have one in West Africa currently.

Many of our airplanes will pay over $1 million to go somewhere to be maintained very often.

That maintenance can be done here, and will be able to create jobs. There is the aviation liaison company, which will make it very easy for our

The biggest challenge I have come across is infrastructure. Until we solve the infrastructure challenge Nigeria faces, we may not be able to deliver the Nigeria of our dreams.

One thing that is very important is that all the capital is not available with the government

airlines to get single digit support financing, to be able to lease aircrafts. Then there is the national carrier. Letâ&#x20AC;&#x2122;s just compare our national carrier with Emirates, there wasnâ&#x20AC;&#x2122;t Emirates in 1985.

But here in 2014, Emirates made a revenue of about $22 billion, employed 150,000 people. It is estimated that in another six years, 20 per cent of the GDP of Dubai will come from aviation.

What is aviation contribution to our GDP now?

It is less than one per cent. Imagine a Nigeria where there is 20 per cent contribution to our GDP from aviation sector, what will that kind of Nigeria be? Emirate is just 150,000 people.

Look at our oil industry; in 2014, the revenue we made was about $22 billion, about the same revenue with Emirates. That is just one sector of their economy, they also have oil in Abu-Dabi and some other parts of Emirates. It just tells you how transformational the aviation sector can be. And in any modern society, one of the measures of productivity is actually the numbers of flights that comes into your capital every day.

So you canâ&#x20AC;&#x2122;t compare ourselves to Paris and other countries. In Nigeria, Abuja and Lagos should be the aviation hub for West Africa. People in Gambia donâ&#x20AC;&#x2122;t need an airline. What they need to do is to fly to Lagos and take another flight from there to where they are going to. And once you can make Lagos a hub, it will go down well and increase the number of people who are flying. And when that happens, it creates a massive level of opportunities in the entire value chain. Each plane in the aviation sector creates jobs for close to 50 people. And these are high quality jobs.

Hence you can see how transformational having a national carrier would be. Thatâ&#x20AC;&#x2122;s what really drives the entire aviation. What is happening now is that, we are contributing money to other countries; we are basically exporting money to other countries. When you fly British Airways, or Emirates who makes money? Definitely not Nigeria. I am not saying Iâ&#x20AC;&#x2122;m against them, but

What major PPP projects should we expect going forward?

The Marina Waterfront would be transformational; we are also looking at Gurara Power Plantâ&#x20AC;&#x2122;s operations and maintenance; we are looking at education, agriculture, university hostels, roads across every infrastructural sector.

But transportation is very key. We have the problem of the port in Lagos now. We are looking at the deep water ports. Lekki deep water ports is coming on, Ibom deep water port and so on. And then you look at railways, so transportation is very key. Energy is very key also. Social infrastructure in terms of hospitals and creating centres of excellence. If you watch, medical tourism is a $1 billion opportunity in Nigeria of today and we spend about a billion dollars on medical tourism. We have good doctors in Nigeria. Very often, when Nigerians travel abroad who treat them? They are treated by Nigerian doctors, so why canâ&#x20AC;&#x2122;t we create an excellent medical facility here?

That is a major area we are partnering with the private sector so we can be able to create a world class medical facility. So you can see what the priorities are- transportation, which is an economic infrastructure. Then on social infrastructure, hospitals, education facilities and urban infrastructure. Take a look at Abuja, it has about 72 districts and only five of them are developed in over 30 years. It is becoming like Lagos in terms of overcrowding for those who drive in Abuja. So we need to expand the other district and the only way we can do it us to partner with the private sector. So those are some key areas. And in fact, on 1st of April, we are running an urban infrastructure

by PPP delivery workshop with the Federal Capital Development Authority (FCDA), to be able to start bringing in private capital to begin to start developing all these areas in Abuja to create the Abuja of our dreams. Abuja has to be a capital city for the world. And any capital city must have a world class infrastructure. So what I can assure you is that, in line with the presidentâ&#x20AC;&#x2122;s NextLevel agenda for infrastructure in Nigeria, and haven appointed me to lead the ICRC, during my tenure, the future for infrastructure in Nigeria is so bright that very soon you will need sun glasses.

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NAICOM Assures Insurers on IFRS 9 Ebere Nwoji The National Insurance Commission (NAICOM) has assured that insurers will not suffer significant loss following the implementation of the International Financial Reporting Standard (IFRS) 9.

The IFRS 9 was promulgated by the International Accounting Standards Board (IASB). It addresses the accounting for financial instruments. It contains three main topics: classification and measurement of financial instruments, impairment of financial assets and hedge accounting.

It replaced the earlier IFRS for financial instruments, IAS 39. It came into the system as a part of transparency in financial transaction that provides improved information through introduction

of a structured approach to the classification and measurement of financial assets .

It reflects the actual business model which a business organisation uses in its management and cash flow characteristics.

At recent interactive model on the new finance reporting system, the Deputy Commissioner for Insurance Technical, Mr Sunday Thomas, said with the introduction of IFRS 9, insurers would not suffer any significant loss because the commission had gone through a rigorous study and review on the new model.

Similarly, the Commission, said it has received the approval of its sister regulators, the Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE), for the extension of underwriterâ&#x20AC;&#x2122;s financial account

submission to the end of April 2019, as against the month of March previously stated.

Thomas, stated that guidelines of the IFRS 9, had been sent to the market for better assimilation, views and opinions of underwriters.

He said to ensure proper implementation of IFRS 9, the commission, had engaged the Chief Financial Officers (CFO) of each company in an interactive session to ascertain how far they have implemented the standard and share challenges encountered, He added that each company, gave a presentation of implementation from its company.

According to Thomas, IFRS 9 came into the system as a part of transparency in financial transaction, adding that it

provides improved information because it introduces a structured approach to the classification and measurement of financial assets that reflects the business model in which they are managed and their cash flow characteristics.

On migration from IFRS 4 to IFRS 9, he said â&#x20AC;&#x153;We have tried our best as a commission to make it a lot easier for the market, our doors are opened for enquiries. â&#x20AC;&#x153;We are redefining our system for enhanced efficiency, we believe that there is nothing that is static as to meet the challenges of the market, we look at our system and move what ought to be moved, we also put things in their proper places.â&#x20AC;?

On the impending IFRS 17, Thomas said, â&#x20AC;&#x153;we are learn-

ing from the gaps that are in existence, by the time we come to the adoption of IFRS 17 which has given us longer period for adoption, 2022, we would have been able to perfect all the act so there will be a seamless flow.â&#x20AC;?.

Also speaking, Director, Inspectorate, NAICOM, Barineka Thompson, explained the effect of IFRS 9 on insurance companies, saying the impact of IFRS 9 was mostly felt and would also be felt by banks whose portfolios are predominantly debt portfolio or debt instruments. â&#x20AC;&#x153;We are not expecting significant or negative impact on the insurers because if you go through the book of insurance companies, you will see that the investments that is related

to debt nature are mostly in company instruments, government bonds etc, so its not like they are given personal loans to individual or corporate bodies which is the job or transaction of banks. â&#x20AC;&#x153;It is not that we are saying that there was no form of impact or loss by the reason of classification and measurement modelling, what we are saying is that they are insignificant,â&#x20AC;? he added.

On the financial account submission date extension, he explained that the insurance companies should be given more time because their business and accounting are peculiar. This, he said was why it took the IASB over 15 years to come out with an accounting system or model for insurance.

Custodian Investment Posts Improved Earnings Custodian Investment Plc, formerly Custodian and Allied Plc, has announced its audited financial results for the year ended 31st December 2018.

According to the results, gross revenue for the year grew by 16.6 per cent to N50.2 billion, from the N43.1billion reported in 2017. Despite the challenging business environment in 2018, its profit before tax rose to N9.5 billion, from N8.9 billion posted in 2017. Total asset base and shareholdersâ&#x20AC;&#x2122; funds remained strong at N98.1billion and N40.5 billion with year-on-year growths of 21.8 per cent and 13.2 per cent, respectively.

Commenting on the result, Custodian Managing Director, Wole Oshin, said that the company, would continue to thrive in all sectors in which it operates and would be guided by its vision to always exceed stakeholdersâ&#x20AC;&#x2122; expectations in

the delivery of services to its esteemed clients, observance of corporate governance standards and recruitment and retention of highly skilled personnel while leveraging on innovation and bespoke technology for excellence.

He said in line with the companyâ&#x20AC;&#x2122;s tradition of reciprocating its shareholdersâ&#x20AC;&#x2122; loyalty, the board has recommended, subject to shareholdersâ&#x20AC;&#x2122; approval, payment of a final dividend of 35 kobo to shareholders.

He said this was in addition to the 10 kobo interim dividend that was previously paid to its shareholders, thereby making it a total dividend of 45 kobo per ordinary share of 50 kobo to be paid out of the results achieved in 2018.

Oshin, expressed satisfaction with the result saying considering the operational headwinds of the year 2018, the company did not perform badly.

ICPC Commends PTAD on Fight against Fraudsters The Pension Transitional Arrangement Directorate (PTAD) has been commended for recent creation of an Anti-corruption and Transparency Unit (ACTU) in the directorate.

PTAD, was also commended for staging vigorous media campaign against fraudsters and staff training on early detection of fraudsters and scanners in the system.

The Executive Chairman, Independent Corrupt Practices Commission (ICPC), Prof.

Bolaji Owasanoye, who gave the commendation recently in Abuja, when a team of PTAD management staff led by the executive Secretary Sharon Ikeazor paid him a courtesy visit in his office in Abuja.

He said he was elated to hear that PTAD management deemed it fit to tackle corruption in the pension system.

He said this was a reflection of her determination to win the fight against pension scammers and fraudster.

The PTAD boss on her part, sought the collaboration of the commission in the fight against pension fraudsters.

Ikeazor, used the opportunity of the visit to update the ICPC boss on the activities of the Directorate and achievements recorded under her leadership.

She said the Directorate had concluded verifications for three main operational Departments (Police Pension Department, Custom, Immigrations, Prisons Pension Department and Civil Service Pension Department), under the watch of ICPC officials and that the last Department (Parastatal Pension Department) which comprises over 270 defunct Treasury Funded Agencies will be conducted in April 2019.

She also solicited for enhanced collaboration with the Commission, which she said would facilitate the apprehension and prosecution of the unscrupulous pension phone scammers, whose antics were becoming savvy.

Ikeazor, expressed appreciation to the Commission for the role it played during PTAD staff audit exercise, which was conducted in conjunction with the office of the Head of the Civil Service of the Federation.

COURTESY VISIT

L-R: Education Chairperson, Professional Insurance Ladies Association (PILA), Maureen Ada-Leonard; Executive Director, Marketing & Business Development, Sovereign Trust Insurance Plc, Ugochi Odemelam; MD/CEO, Olaotan Soyinka and President, PILA, Ose Oluyanwo, during the courtesy visit of the association to Sovereign Trust Insurance in Lagosâ&#x20AC;Śrecently

IFC, Africa Re to Enhance Access to Insurance The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement with Africa Reinsurance Corporation, (Africa Re) to help thousands of small holder Nigerian farmers access insurance more easily to protect their crops and livelihoods.

Under the agreement, Africa Re, a pan-African reinsurance company headquartered in Nigeria, and IFCâ&#x20AC;&#x2122;s Global Index Insurance Facility would help Nigerian insurance companies develop agricultural insurance products and deepen their index insurance business lines.

This index would help protect

farmers against environmental risks such as drought, floods, erratic rainfall, and other natural hazards.

The Index-based agricultural insurance pays out claims based on transparent parameters like rainfall and does not require costly field visits to verify losses, which is an innovative and efficient way for farmers to protect themselves against losses. Speaking at the signing ceremony in Lagos, Deputy Managing Director/Chief Operating Officer of Africa Re, Mr. Ken Aghoghovbia, said, â&#x20AC;&#x153;We are excited to be partnering with IFC in assisting Nigerian

insurers develop appropriate insurance products for small holder farmers. This initiative will certainly help move Nigeria towards its goal of food security and it is in line with Africa Reâ&#x20AC;&#x2122;s mission to support African economic development.â&#x20AC;?

Also, IFC Country Manager for Nigeria, Eme Essien, said, â&#x20AC;&#x153;IFCâ&#x20AC;&#x2122;s support for affordable and accessible agricultural insurance will help Nigeriaâ&#x20AC;&#x2122;s farmers mitigate the effects of climate-related shocks, protecting them against catastrophic losses and unlocking access to finance. â&#x20AC;&#x153;Developing a sustainable

agricultural insurance industry also requires a strong commitment from regulators, such as the Nationla Insurance Commission, NAICOM, who embrace innovation to help farmers manage their risks. â&#x20AC;&#x153;Farmers with crop insurance are also more likely to access other financial products, including credit, and to invest in higher quality production inputs. â&#x20AC;&#x153;However, the traditional insurance market has largely failed to meet smallholder Nigerian farmersâ&#x20AC;&#x2122; demand for affordable insurance with its high premiums and transaction costs.

AIICO Gets ISO RecertiďŹ cation AIICO Insurance Plc has been recertified for two consecutive times for the ISO 22301, by the British Standards Institute.

Speaking on the feat achieved, Head, Strategic Marketing & Communications Department of AIICO, Atinuke Jose, said the purpose of the

certification was to ensure that all risks to the business and the realisation of its objectives are adequately catered for.

She said ISO 22301, specifies the requirements for a management system to protect against, reduce the likelihood of, and ensure an organisation recovers from disruptive incidents.

According to her, AIICO, underwent its second recertification audit process in 2019, scaling through without nonconformities.

She said this showed that AIICO has continued to embed the Business Continuity Management System within its processes, ensuring that

the resilience of its services is maintained and improved on. â&#x20AC;&#x153;The success of this recertification is indicative of Managementâ&#x20AC;&#x2122;s commitment to ensure continuity in delivery value to its customers, shareholders and all other stakeholders,â&#x20AC;?

Atinuke sated.

UD

29

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

BUSINESSWORLD

INTERVIEW

Samson: Lack of Financial Managers Bane of Business Failures Followingthehighterminalrateofsmallbusinessesinthecountry,OsifoSamson,anaccountant and financial management expert in this interview with Segun James stresses the need for a new financial management structure. Excerpts: What are the causes of business failures in the country and what are the roles of ďŹ nancial managers in these failures?

Well, we have to understand what financial managers do. If you want to succeed in any business at all, you need to have an understanding of how to manage your resources.

Financial managers are just managers trained to manage resources and utilise those resources effectively in relating to the activities of that organisation in order to achieve the goals of that organisation. Now every organisation has a target. But to actualise those targets, you need resources. How do you generate such resources, and if these are generated, how do you manage them? These activities primarily involve financial managers. You must understand that managing resources is more difficult than sourcing for resources.

For instance, I can go to the public market to source for resources or I can go to a bank to source for resources, but the most important aspect is how do I manage these resources effectively. That is the issue.

Now, â&#x20AC;&#x153;managing resources effectively,â&#x20AC;? in the African setting is an issue because we apply sentiments to a lot of decisions. If it is a one-man business, more sentiment applies.

The individual comes and begins to tell you he needs some money â&#x20AC;&#x153;xyzâ&#x20AC;? off balance, before you know it, you will find found out that the individual is spending more income of the company personally in opposite to what will improve and promote income of the company.

That will lead to a deficit, eventually. The bottom line in this is that the objectives and goals of the company can no longer be met.

So it will eventually lead to liquidation.

The same thing applies to other businesses including government-owned companies and parastatals. If you cannot manage any resources very well, there are tendencies for the goals and objectives of that organisation to fail. For a company to fail by not managing its finances very well depends on so many factors. For example, if an organisation goes to the stock exchange to source for N200 billion to improve its business; and it was able to generate it; I can tell you that most of what you expect is that this resources are put to effective use. But some of the directors of these companies are not sincere to the shareholders and to the company. Immediately the money is sourced, sentiment takes over. What you now have is the directors asking the financial manager to give them part of it for personal you. For example, if the director asks for N50 million and he is given, the problems begins from there. Before you know it, crisis sets in.

But ordinarily, what the financial manager is supposed to do is tell that director to allow the money be utilised for the purpose it was source, but because we are in Africa, we apply sentiment to our decisions. What that means is that, once he is given the money, technically, the turnover of the company has gone down!

Meeting the target of the company becomes difficult.

Now, the money that has been given to him will now be an issue and becomes a burden to them. If the money is running at 18 percent per annum, technically they will be force to pay N36 million interest on that money per year even though the company is not making any money in return of the N50 million that has been given to the director.

So, most issues that financial managers face comes from sentimental decisions.

Now, how does a ďŹ nancial manager maintains and ensures that business grows?

We need to understand that debt plus equity makes up a company. But in order for the business to survive, we need to remove most of these directors from the funding and managing the funds of the organisations. If they are separated from that, most companies, including government owned organisations and even banks will not liquidate. You need to remove most of these people that are the owner, chairman/managing directors in managing resources for the companies for it to survive. Only this will ensure effective

Samson

management control in Nigeria.

You talked about the removal of some people, especially the owners from the ďŹ nancial control of the organisations, but when the owner is government, how do you remove it? Also, if the owner of a company is the one that sources for the fund for the company and he is also the one asking for part of the sourced fund for personal use, how do you stop him?

Thatâ&#x20AC;&#x2122;s the problem. Iâ&#x20AC;&#x2122;ve said something before that if you apply sentiment to business, you are bound to fail. Corporate management helps show how an individual or government official can be excommunicated. If the borrower is allowed to have a say in the management of the resources, the will help control this. Then you cannot come and tell a financial manager that you need money for private use, no. That money must go into business. That is what our institute, Chartered Institute of Finance & Control of Nigeria is advocating for. They are trying to control the powers of directors and the power of ownership overriding the decisions of workers and people working within that organisation. For instance, of late in the banking sector, it is said that most managing directors should no longer be the chairman of the bank. These are part of the corporate governance structures that is in place. For example, if the managing director of the bank

You must understand that managing resources is more difďŹ cult than sourcing for resources. For instance, I can go to the public market to source for resources or I can go to a bank to source for resources, but the most important aspect is how do I manage these resources effectively

is also the chairman, he has the power to even ask the financial manager to leave the company because he has access to power.

But separating the two has brought a lot of relieve for the banks. What that connotes is that there is a chairman and there an MD. If the chairman is imposing a decision on the MD, the MD has to come to the floor of the board of director to say what is your view on this? This also means that the chairman cannot also take all board members under his control. There will be some of them who will argue the issues for the effectiveness of the utilisation of the resources of banks.

I do recovery for most banks and I have realised that the way we do recovery in the country is not the same way in other countries.

It is worse when the company is owned by government. To me, and if I have my way, I will say we should separate government from the management and ownership of the companies, and put people that are effective to manage such organisations. In fact, privatise all government parastatals. What Iâ&#x20AC;&#x2122;m saying in effect is that we want effectiveness; we want people who are resourceful to manage the business.

What can be done about bank failures?

I want to cast your mind back to Oceanic Bank and others. Why did the bank fail? That bank and others failed because some people that are in banking are not supposed to be in banking. With due respect to them, I repeat, some people in banking are not supposed to be in banking. Now letâ&#x20AC;&#x2122;s start from this; financial system creates economic system. This implies that financial system gives birth to economic system. So, technically, if our financial system is bad, our economic system would be bad if we donâ&#x20AC;&#x2122;t change it.

What makes a banking system and economic system effective is policies. Now if these policies are not followed, then you have a failed economy!

So why do some banks fail when there are laws in place that are supposed to safeguard them?

Well the truth is that some people in banking are not supposed to be in the banking at all.

That is why they fail. For instance, on getting a N1 billion loan from the bank, the bank is giving me a condition that Iâ&#x20AC;&#x2122;m going to pay 25 per cent interest on this money per annum. The banker that is giving me this interest rate is also part of the economy. He or she knows that the economy is bad, yet he is giving me a 25 per cent of that money per annum; and that is N250 million. What business can you do to earn N250 million per annum, in Nigeria? Now, that is where the CBN comes in, to encourage small and medium scale enterprises. How many people will go into agriculture business for instance with such loan and be able to pay back? I donâ&#x20AC;&#x2122;t see the person paying back that money.

The banker approving this money knows that the man cannot pay. But truth is this - they will tell the man to bring his property that is worth N2 billion because they want to give him a loan worth N1 billion. And they know that the man cannot pay but they are rest assured that if this individual cannot pay, they will go back to his property. What we do in our country is that they give you facility that is worthless and collateral even though they know that technically you cannot pay.

After five years that they know you cannot pay, they come after their money by forcing you to sign your property for them. Now if that individual employs 5,000 workers, they become unemployed from that day. Unemployment is increasing in the country every day because of financial failure. These are the reasons for the companies that AMCON has acquired over the years. AMCON acquired those companies, appointed a recovery manager to go after those people. AMCON has told us that they have taken over those companies, yet they are making losses, what is the value of those companies? Sincerely, the takeaway of these companies is a way to kill the economy more.

So the synergy between the banks and the economy must work in tandem because the banks are there to support me and not to kill me. They know that giving me that facility will mean that I will employ more people as part of the expansion. If I employ 100 before, it will increase to 200 that will help drastically to reduce unemployment within that area. For a bank to give you a facility, they will look at your financials. What went wrong? Why is the man not performing any longer? Those are some of the critical issues that we need to identify. Then we come in as a government to ensure that that company donâ&#x20AC;&#x2122;t go down; but unfortunately, we donâ&#x20AC;&#x2122;t do it here. Most of the companies that borrowed money outside Nigeria, government come to assist them so that they wonâ&#x20AC;&#x2122;t create unemployment within that environment. So where are the Dunlop, Michelin and other companies of those days?

Most of the banks that took over Dunlop didnâ&#x20AC;&#x2122;t even know what to do about the company.

I must reiterate that banking is not about liquidity. Our system is killing. We are not encouraging people to grow; rather, we are encouraging them to die. Businesses in Nigeria cannot grow under this kind of atmosphere.

Anybody you see doing business successfully today, must be part of government. He may be getting free fund from government.

Business cannot grow because you need a facility to grow, yet the man what is coming to make your business grow, technically is coming in to kill you! A lot of people have committed suicide. If they were doing their business alone without going to the banks for facilities, maybe they would have been successful.

So what is the way forward?

The way forward is for the Governor of the Central Bank who controls monetary policy and the Minister of Finance who controls the fiscal policy to sit down together and begin to look at issues without sentiments. We must a way to ensure that industries such as the textile industry and others which employs 50,000 and even 70,000 people are revived.

The financial regimen we run in this country is killing them.

30

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

Breaking Glass Ceiling in Banking Oluchi Chibuzor Some years ago, it was the norm for women to be relegated into the background. Then, it was believed that they were to be seen and not heard.

Even in corporate organisations women rarely take up leadership role.

According to the World Economic Forumâ&#x20AC;&#x2122;s Corporate Gender Gap Report 2010, leading companies are failing to capitalise on the talents of women in the workforce. The study covers the worldâ&#x20AC;&#x2122;s largest employers in 20 countries and benchmarks them against the gender equality policies that most companies should have in place but are, in fact, widely missing.

The findings of the report was an alarm bell during the recent International Womenâ&#x20AC;&#x2122;s Day, as it showed that the corporate world was not doing enough to achieve gender equality.

While a certain set of companies in Scandinavia, the US and the UK are indeed leaders in integrating women, the idea that most corporations have become gender-balanced or women-friendly is still a myth.

The report was based on a survey of 600 heads of human resources at the worldâ&#x20AC;&#x2122;s largest employers. The survey contained over 25 questions and assessed companies on representation of women within their establishments and the use of gender-equality practices such as measurement and target setting, work-life balance policies and mentorship and training.

The survey also asked respondents to identify the biggest barriers to womenâ&#x20AC;&#x2122;s leadership and their opinion on the probable effects of the economic downturn on womenâ&#x20AC;&#x2122;s employment in their countries and industries. This is fast becoming a myth as women are now being given prominent positions in corporate organization.

Access Bank is one of the few organisations where women are given prominent roles in leadership. For instance, the bankâ&#x20AC;&#x2122;s chairman is a female.

It is in line with the bankâ&#x20AC;&#x2122;s push for more women in leadership and business that it held the largest gathering of women recently in Lagos.

With the theme, â&#x20AC;&#x2DC;Balance for Better,â&#x20AC;&#x2122; more than 6, 000 women in attendance learnt from the experiences of fellow women who have expertise in different field of endeavor.

The Head, Women Banking, Access Bank, Ada Udechukwu, who was one of the initiators of the event, said Access Bank initially planned for 750 women but the bank was amazed by the number of women who registered online to attend the event. â&#x20AC;&#x153;Women are taking themselves seriously.

Wigwe

Women now pay bills, school fees, rent or mortgage. I truly believe Access bank is taking women seriously as they constitute a large percentage of our customers,â&#x20AC;? she observed.

Speaking at the event, the CEO, Access Bank, Hebert Wigwe, said the world has moved on from not taking women seriously as issues related to women have been on the front burner unlike in time past. â&#x20AC;&#x153;An institution that doesnâ&#x20AC;&#x2122;t take women seriously is making a great mistake,â&#x20AC;? he told the fathering. â&#x20AC;&#x153;When you talk about loyalty, just go to a woman. There is a lot happening in politics, business both locally and internationally as it relates to women; and in terms of giving a voice to the voiceless.â&#x20AC;?

Wigwe said Access is happy to support women in growing their businesses. â&#x20AC;&#x153;As a bank, we have supported women like Claire Omatseye in pharmacy, Folake Coker of Tiffany Amber in fashion, Nike Ogunlesi, CEO,

Ruff n Tumble among other women. We took women whose turnover was zero to a billion naira.â&#x20AC;?

In addition, Wigwe said Access bank has developed different products to meet the needs of women in business. According to him, five years after, the bank has been able to develop 40 women. â&#x20AC;&#x153;We discovered that money isnâ&#x20AC;&#x2122;t the problem for most women in business, it is building capacity. We provided training and developed them through various programmes. We have trained them in creating succession plans for their business,â&#x20AC;? he added.

Furthermore, Wigwe said Access Bank launched the W Initiative in 2017, to create a community for women to exchange ideas on how to grow their businesses and network. He said the W Initiative has been playing a pivotal role in the empowerment of women.

Deputy British High Commissioner to

Nigeria, Laure Beaufils, while starting her keynote address asked all women in the hall some salient questions which are: â&#x20AC;&#x2DC;who in this hall want women to get equal pay as men?

Who wants women to get equal respect as men? She based her discussion on gender equality while advocating for women to push back the push back. â&#x20AC;&#x153;We must not wait to be given seats at the table, we must get a seat at the table and rearrange the table. Women must resist, insist, persist and enlist. Sometimes, it seems the fight is an individual one, the fight for justice is both individual and collective. â&#x20AC;&#x153;There is such a need for sisterhood and we need a deliberate strategy. We must all remember to bring ourselves to work and build on those things that are us rather than seeking to be someone else. We need to give ourselves a break and believe we are more than enough,â&#x20AC;? she said.

Developing Effective Governance for Sustainable Outcomes When you are a member of any organisational board in Nigeria today, it feels like you have a million things working against you. Fastchanging technologies, limited infrastructure, volatile economic and regulatory ecosystem are all challenges that you must deal with.

Youâ&#x20AC;&#x2122;re always short on time because the structure, administration and strategies of boards have become even more complicated and could make or break the progress of organisations.

And honestly, knowing that youâ&#x20AC;&#x2122;re constantly competing with thousands of other organisation boards just like you sometimes globally. Could be, overwhelming.

However, the silver lining is that there is a myriad of opportunities that could be explored for those who are prepared and well equipped.

To improve your performance, strike a balance between innovation and compliance; local and global competitive influences, short and long term, commercial and stakeholder interests (where they conflict).

To this end, United Kingdom-based, education service provider, TEXEM, is presenting a two-day Masterclass with world-renowned Professor Andrew Chambers.

The theme of the programme is: â&#x20AC;&#x2DC;Creating Effective Boards and Directors,â&#x20AC;&#x2122; holds between April 10-11, 2019, and it holds at Eko Hotel &Suites, Lagos.

This TEXEM Masterclass will empower you with the requisite knowledge and skills that you need to make a positive impact on organisational boards.

Professor Andrew Chambers-Author of the Chambers Handbook of Governance has delivered

governance solutions in more than 60 countries across the world.

This programme is informed by the latest research which has revealed that many boards are facing complex challenges relating to how they can effectively offer risk management oversight, drive innovation in this digital age, and provide strategic direction. â&#x20AC;&#x153;If you are a board director, member or as an aspiring one caught in the complex maze of changes, and not sure of the best step forward to create and manage a prolific board that makes a positive difference, then this masterclass is for you. â&#x20AC;&#x153;The programme is designed and tailored to address the volatile, uncertain, complex, and ambiguous operating landscape in which decision-makers have to do more with less, survive and develop profitable growth, and or excellent service delivery,â&#x20AC;? TEXEM, Chair, Dr Alim Abubakre said.

The course is designed for board members, chairpersons, Director Generals, Executive Secretaries, Permanent Secretaries, and Managing Directors among others.

Secretaries of boards, Independent non-executive directors, general managers, chief human resource officers, and Chief financial officers will also benefit from the course designed to provide strategic direction, optimise decisions to strike a balance between risk management and developing a culture of innovation.

Chief internal auditors or chief risk officers, Regulators and standards setters, plus, general councils, and Entrepreneurs will also find the TEXEM Masterclass invaluable learning how to address the challenges facing boards and develop

a viable approach to impactful success. â&#x20AC;&#x153;In this two-day master class, you will learn to identify the right strategies to expand your roles beyond conventional governance, using real-life scenarios; you will develop insights into how to develop a viable plan, manage risk, lead more effectively in crises, and engage stakeholders for value creation. â&#x20AC;&#x153;As a board director, youâ&#x20AC;&#x2122;ll leave ready to bring your ideas to life and help implement best practices that contribute to effective and efficient organisations. â&#x20AC;&#x153;It is newly designed to ensure that participants are made aware of the measures and approaches available to impact positively on board and director effectiveness,â&#x20AC;? said Professor Chambers. â&#x20AC;&#x153;The intention is to inspire participants with proven ways to re-engineer corporate governance in practice and to provide practical â&#x20AC;&#x2DC;toolkitâ&#x20AC;&#x2122; advice on how to apply these state-of-the-art methods.â&#x20AC;?

Commenting on how to create and run an impactful board, the firm pointed out that the TEXEM Masterclass curriculum was designed to reflect core issues related to boards such as accountability, transparency, and strategic leadership. â&#x20AC;&#x153;Importantly, you will leave the Master Class with a profound appreciation of crucial elements of creating and running a successful Board,â&#x20AC;? it added.

It noted that networking and debating with other workshop participants during the programme, would give valuable opportunities for participants to identify the pitfalls and the strategies on how to resolve some of those challenges. Furthermore, via this programme, participants are assured of a bumper return on investment via enhanced

social capital (which could lead to new business opportunities and strategic synergies) and steeper learning curve Professor Chambers said in a recent interview. â&#x20AC;&#x153;The TEXEM Master class on creating and running active boards will transform you from a passive, less productive board into a better strategic thinking board leader ready to establish and maintain good governance practices. â&#x20AC;&#x153;In this turbulent, challenging, dynamic and fast-paced operating landscape characterised by new risks and opportunities, good governance remains the bane of many Nigerian organisations success,â&#x20AC;? says Dr Alim Abubakre, Chair of TEXEM UK. â&#x20AC;&#x153;Professor Andrew Chambers, former Dean of Cass Business School London, will share insights with senior executives in Nigeria on how to clearly define the boardâ&#x20AC;&#x2122;s purpose and move beyond compliance to value creation for all stakeholders. â&#x20AC;&#x153;As a board director and member, this masterclass is an opportunity to help you come to grips with aspects of accountability, setting direction, developing the business model, strategic planning and management oversight. â&#x20AC;&#x153;Participants would learn from Professor Andrewâ&#x20AC;&#x2122;s successful career in creating; running vibrant boards and stimulating better board performance. He will guide you through the techniques you need to develop and manage dynamic boards. â&#x20AC;&#x153;Join Professor Andrew Chambers as he demonstrates how to make the most of your board at this exclusive masterclass,â&#x20AC;? TEXEM added.

5 ) * 4 % ": t WEDNESDAY, APRIL 3, 2019

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32

T H I S D AY Ëž ÍąË&#x153; Ͱ͎ͯ͡

EDUCATION Making Education Count In a lecture, â&#x20AC;&#x2DC;What is the Great Purpose of Education?â&#x20AC;&#x2122; organised as part of activities marking the 60th anniversary of St. Augustineâ&#x20AC;&#x2122;s College, Kabba, Kogi State, one of the old boys, Francis Onaiyekan stated that for education to be considered effective, it must result in communally beneficial action, just as he highlighted the defects of education in Nigeria. Uchechukwu Nnaike reports

T

he 60th anniversary of St. Augustineâ&#x20AC;&#x2122;s College, Kabba, Kogi State was no doubt a joyful occasion, as the management, staff, students, old students and other stakeholders gathered to commemorate the day. It was also an opportunity to reflect on the state of education in the country and proffer solutions where necessary- hence the lecture titled â&#x20AC;&#x2DC;What is the Great Purpose of Education?â&#x20AC;&#x2122;, delivered by one of the old boys, Francis Onaiyekan.

Onaiyekan, who examined and argued for the great purpose that education ought to serve for the individual and society, said the great purpose of a manâ&#x20AC;&#x2122;s education would be seen and felt in his action.

He stressed that human resource is the most important asset of a nation and that intellectual capital is the most precious component of that human asset, while education is the means to build intellectual capital.

For instance, he said countries like Israel, Japan, South Korea and Singapore have little natural resources, but possess huge intellectual capital and corresponding productive capabilities. â&#x20AC;&#x153;These countries wield global influence far beyond their physical sizes. Brain power is forever the name of the game. â&#x20AC;&#x153;If education is so obviously valuable, beneficial and ipso facto, desirable, one should reasonably expect it to be the topmost item on Nigeriaâ&#x20AC;&#x2122;s investment plan as indeed, it is in development-focused countries. After all, you can reap dividends only from what you invest in. Alas, there is enough evidence to show that Nigeriaâ&#x20AC;&#x2122;s political leadership does not desire to invest in public education that will benefit the greatest number of citizens.â&#x20AC;?

He regretted that in an increasingly knowledgedriven world, the levity in which Nigerian leaders hold education is depressing and shameful â&#x20AC;&#x153;it is simply unbelievable! â&#x20AC;&#x153;I do not think that Nigeriaâ&#x20AC;&#x2122;s political leaders in the past 50 years (since 1966 to be specific when soldier seized political leadership) have been truly â&#x20AC;&#x2DC;educatedâ&#x20AC;&#x2122;. For, they do not show sufficient appreciation of the value and benefits of an educated citizenry, and the positive difference this can make for the leader in the task of governance.â&#x20AC;?

According to him, education of the citizen is not a fundamental and justiciable right in the 1999 Constitution of the Federal Republic of Nigeria (as amended). â&#x20AC;&#x153;Section 18 (3) merely offers that: â&#x20AC;&#x2DC;Government shall strive to eradicate illiteracy; and to this end, Government shall, as and when practicable, provide (a) free, compulsory and universal primary education; (b) free university education; and (c) free adult literacy programmeâ&#x20AC;&#x2122;.

This certainly goes contrary to the spirit, direction and the pressing requirements of an increasingly knowledge-driven global society. â&#x20AC;&#x153;If Nigeriaâ&#x20AC;&#x2122;s leaders truly mean well for the electorate that entrust them with political high offices, they must, forthwith, amend the constitution to make education justiciable. Education ought to be classified and treated as a â&#x20AC;&#x2DC;common goodâ&#x20AC;&#x2122;.â&#x20AC;?

However, Onaiyekan said it is gratifying to note that the National Policy on Education (NPE) has, in Section 2 (12) of the sixth edition (2013), â&#x20AC;&#x153;improved upon the rather lame constitutional provision quoted above to declare that basic education, the first 10 years of education, is free and compulsory.â&#x20AC;?

On the importance of having educated political leaders, he regretted that the authors of the 1999 Constitution of the Federal Republic of Nigeria (as amended) do not seem to see a necessary connection between education and leadership, adding, â&#x20AC;&#x153;Nigeriaâ&#x20AC;&#x2122;s supreme manual on governance - in its wisdom or â&#x20AC;&#x2DC;unwisdomâ&#x20AC;&#x2122;, depending on how one views it - states in Section 13 (d) that a person shall be qualified for election to the office of President if â&#x20AC;&#x2DC;he has been educated up to at least School Certificate levelâ&#x20AC;&#x2122;. â&#x20AC;&#x153;This is the educational requirement too for election into the National Assembly (Section 65 (2) (a). That anyone would prescribe only twelve years of formal education is required to preside over the affairs of or make laws for a 180 million-strong country in this 21st century digital, knowledge society boggles the mind.â&#x20AC;?

The Minister of Education, Mallam Adamu Adamu In terms of funding education, the guest lecturer said the annual budgetary figures reveal disdain (some would add distrust too) for knowledge, the learned and intellectualism generally. â&#x20AC;&#x153;Since 1999 when democratically elected government returned to power in Nigeria, the share of the education in the federal budget has been between four per cent and 10 per cent, says the current Minister of Education, Mallam Adamu Adamu as reported in the Premium Times online news medium. â&#x20AC;&#x153;Yet, Adamu reportedly admitted at a workshop on â&#x20AC;&#x2DC;Sustainable Funding of Education late November 2018, that funding is key to the delivery of qualitative education which is, in turn, the foundation for national growth and sustainable development.

He recommended that â&#x20AC;&#x2DC;If conscious attempts must be made to redeem the [education] sector, states and [the] federal government must begin to commit at least 15 per cent of their annual budgetary resources to educationâ&#x20AC;&#x2122;. From all the right noises that government officials make, it is clear that they know what they ought to do; why they lack the will to do the right and proper thing is baffling.â&#x20AC;? â&#x20AC;&#x153;If Adamuâ&#x20AC;&#x2122;s view on the key role of education in national growth and development is granted, then one may assume - tragic and scandalous as it may sound- that governments in Nigeria are thinking of neither growth nor development- at least not by the universally accepted means of educating the people.â&#x20AC;?

Onaiyekan recalled that the NPE states in Section 1:4 that the â&#x20AC;&#x153;philosophy of Nigerian education is based on the development of the individual into a sound and effective citizen, and the provision of equal opportunities for all citizens of the nation at the basic, secondary, and tertiary levels both inside and outside the formal school system.â&#x20AC;? â&#x20AC;&#x153;In Section 6, the document states that â&#x20AC;&#x2DC;the goals of education in Nigeria include development of the individual into a morally sound, patriotic and effective citizen, total integration of the individual into the immediate community, the Nigerian society and the world, development of appropriate skills, mental, physical, and social abilities and competencies to empower the individual to live in, and contribute positively to societyâ&#x20AC;&#x2122;. These are indeed expressions of lofty intentions; hardly does the goal of education come any better. But Nigeriaâ&#x20AC;&#x2122;s political leadership has, with shameless consistency,

acted against the letters and spirit of the NPE.â&#x20AC;?

He added that the gap between governmentâ&#x20AC;&#x2122;s expressed intention and the implementation is characteristically, more than a gap; â&#x20AC;&#x153;it is a chasm.

Consider the 1-6-3 years of early child basic education.

According to Section 2(12) of the NPE, it is â&#x20AC;&#x2DC;to be provided by Government, [and] shall be compulsory, free, universal, and qualitativeâ&#x20AC;&#x2122;. 60 years into selfgovernment, UNICEF calculates that Nigeria still has 10.5 million out-of-school children and this is the highest for any country in the world. 60 per cent of these are in the northern part of Nigeria. â&#x20AC;&#x153;Take the tertiary education. The seven-point goal as spelt out in Section (81) of the NPE include to â&#x20AC;&#x2DC;contribute to national development through high level manpower trainingâ&#x20AC;&#x2122; and reduce skill shortages through the production of skilled manpower relevant to the needs of the labour marketâ&#x20AC;&#x2122;. To these ends, Section 5(82) lists 15 goals that tertiary educational institutions shall pursue. These include quality student intakes, quality teaching and learning, research and development, high standards in the quality of facilities, services, and resources, staff welfare and development programmes, provision of a more practical-based curriculum relevant to the needs of the labour market, generation and dissemination of knowledge, skills and competencies that contribute to national and local economic goals which enable students to succeed in a knowledgebased economyâ&#x20AC;&#x2122;. Has federal and state governments fulfilled these noble ideals? I would say no. This failure explains the incessant strikes by academic and non-academic staff of tertiary institutions.â&#x20AC;?

On teacher education, he said Section 5 (B) of the NPE policy document aims, â&#x20AC;&#x2DC;in recognition of the pivotal role of quality teachers in the provision of quality education at all levelsâ&#x20AC;Ś [to produce] highly motivated, conscientious and efficient classroom teachers for all levels of the educational systemâ&#x20AC;?, â&#x20AC;&#x153;provide teachers with the intellectual and professional background adequate for their assignmentâ&#x20AC;Ś enhance teachersâ&#x20AC;&#x2122; commitment to the teaching professionâ&#x20AC;&#x2122;. â&#x20AC;&#x153;All that is on paper, but Nigerian teachers are owed many months of salaries while some state governments pay fractions of these just remunerations with a â&#x20AC;&#x2DC;you should be grateful to get something at allâ&#x20AC;&#x2122; attitude.â&#x20AC;?

He regretted that Nigerian leaders do not seem to think that the quality of the teachers is a key

determinant of the quality of education. â&#x20AC;&#x153;Taking a cue from its leaders, the Nigerian society so flagrantly disrespects its teachers to the point that hardly can one find a young man or woman who makes education her first choice to study, or to make a career. Even the higher institutions have, for years, offered Education as only the last option to applicants not admitted for other courses.â&#x20AC;?

On the preference for sciences over the humanities, he said: â&#x20AC;&#x153;The humanities and science are aspects of the total body of universal knowledge. It is short-sighted- even foolish- to pursue the separation instead of the synthesis and the convergence of the various strands of knowledge.â&#x20AC;?

The guest lecturer also expressed concern over the poor reading habit of Nigerians and the nonchalant attitude towards continuous education, saying, â&#x20AC;&#x153;to not read- and read incessantly too - is to deny oneself the unquantifiable benefit of continuous education. â&#x20AC;&#x153;Aspiring leaders, as well as persons in leadership positions cannot educate themselves enough. In order to be ready and able for the multi-dimensional challenges of leading unpredictable men and women in a complex world, leaders must continually educate themselves in diverse fields of knowledge.â&#x20AC;?

According to him, the great purpose of education includes providing solutions to problems. â&#x20AC;&#x153;If this is granted, we reasonably should expect Nigerian higher institutions to develop and implement solutions to some of the urgent problems in society.

We should expect and therefore demand that the polytechnics, the universities generate their own electricity and produce their own clean water first, for the school community, and then for the adjoining community- if only in fulfilment of corporate social responsibility. â&#x20AC;&#x153;While one must acknowledge that research and development is a costly undertaking, nonetheless, I do not consider it too much to demand that our intellectual elite think hard and, in collaboration with appropriate parties, proffer solutions to pressing challenges in society. The point being made here is that, a community of educated men and women or in a manner of speaking, the ones with sight, must not only see for themselves, but show the way to others in the dark, so to speak.â&#x20AC;?

He added that a university as a place of knowledge and of light, ought to be demonstrably better governed than the rest of society. â&#x20AC;&#x153;A community of the enlightened should be light to the world and salt to the earth. And, against the backdrop of the link between education and leadership stated above, good governance should be obviously reflected in institutions and organisations headed by intellectuals in the humanities. â&#x20AC;&#x153;The enlightened- in the sense of one armed with knowledge, understanding, wisdom and discernment - ought to (can it be otherwise?) act as â&#x20AC;&#x2DC;lightsâ&#x20AC;&#x2122; of integrity, humaneness, and equity and, I should add, courage to stand up for these qualities for, the man dies in him who fails to defend his beliefs. The world will not get better unless its leading lights shine brightly enough to overcome darkness, and to light a path to a purpose higher than self.â&#x20AC;?

To the old boys of St. Augustineâ&#x20AC;&#x2122;s College, he said: â&#x20AC;&#x153;We owe so much to this college, but except for a few among us, most have done little for it.

We must increase our commitments as well as improve on them. â&#x20AC;&#x153;Let those with the money put it down; let who have books donate them to the library, let retirees and those on leave from the hurly burly of the city donate time, knowledge and experience to teach subjects in their areas of competence. â&#x20AC;&#x153;Quality time spent by a new face of an old boy, sharing knowledge and experience with young students can make a difference in their understanding of a topic. Let us hold periodically, career talks, seminars on history, and current affairs; let those among us who have foreign connections arrange to twin our college with similar schools abroad in order to attract assistance and exchange students and programmes.â&#x20AC;?

He stressed that every time an alumnus fails to meet the great purpose of his education, he fails this college.

33

T H I S D AY Ëž ÍąË&#x153; Ͱ͎ͯ͡

EDUCATION

Edo Poly Commences Oil Palm Milling Adibe Emenyonu in Benin City The Rector of Edo State Polytechnic, Usen, Professor Abiodun Falodun, said the institution has commenced oil palm milling and has set modalities for the development of a palm plantation to promote enterprise and research.

Speaking to journalists on the development at the milling facility in the school premises, in Ovia South-west Local Government Area of the state, Falodun said the polytechnic wants to revolutionise the idea of tertiary institutions as solution centres, adding that the move is to align with the state governorâ&#x20AC;&#x2122;s charge to institutions to become innovative in service delivery,

â&#x20AC;&#x153;With the support of the Tertiary Education Trust Fund (TETFund), we have set up the oil milling plant in the school.

We intend to mop up the oil palm harvest from smallholder farmers in the community and mill them here to produce palm oil and other by-products.â&#x20AC;?

According to him, the institution has designed a roadmap to developing a plantation that would serve as source of raw material for the facility, adding that the seedlings are going to be sourced from the Nigeria Institute of Oil Palm Research (NIFOR). â&#x20AC;&#x153;I am delighted that we have set up this facility. We are going to commence the development of a palm plantation within

the school which will service the oil milling plant. But at the moment, we intend to mop up what we can from smallholders in the community and environs. â&#x20AC;&#x153;Our grand plan is to have more than one processing centres within the school that will

be producing finished goods from the different crops grown in the community. Aside the oil palm, we also intend to build one for yam and banana processing. The students will play active roles in the development of the plantation

as it would form part of their entrepreneurial studies. â&#x20AC;&#x153;The processing centres will not only serve as enterprises, but the school will also use them as research stations, to develop new products and allied products from the different

crops that we grow in Usen community,â&#x20AC;? Falodun added.

He said some of the departments that will be involved in the research activities are those in the School of Engineering; Food Science and Technology, among others.

UBA to Boost Studentsâ&#x20AC;&#x2122; Leadership Skills though Campus Ambassador Programme Uchechukwu Nnaike The United Bank for Africa (UBA) Plc has unveiled 30 students from 10 universities across the country as UBA Brand Ambassadors for 2019 in the third edition of its Campus Ambassador Programme.

The 30 students, made up of 17 males and 13 females, were selected based on a number of carefully-defined criteria, including clear leadership and creative skills, as well as the keen ability to promote the UBA brand as campus ambassadors.

The Campus Ambassador Programme is UBAâ&#x20AC;&#x2122;s initiative to identify young emerging leaders from tertiary institutions across the country and give them a unique and rewarding learning experience while also grooming them to be effectual leaders in their societies and the country. The programme is also an opportunity for the bank to give back to students who remain a core component of its legacy.

Speaking at the unveiling ceremony, which held at the bankâ&#x20AC;&#x2122;s Head Office in Lagos, weekend, the Group Executive, Digital and Consumer Banking, Anant Rao explained that the UBA Campus Ambassador programme offers a unique opportunity to students of tertiary institutions in Nigeria to be part of a dynamic and forward-thinking Pan-African bank by representing the brand both within and outside the campus.

He stated that the programme is designed to be a win-win for both the students and the bank as it presents a learning experience and a rewarding pursuit for selected students, while providing them with a platform to display their leadership capabilities and diverse talents which will in turn drive further growth to the bank.

Addressing the students, he said: â&#x20AC;&#x153;We are glad because since we began this programme a few years ago, the narrative has indeed changed. We are now seen as a bank for the young and vibrant and we have been able to develop leadership skills and creativity

among the youths. And so with your successful selection, I am happy to say that your learning experience has already begun. You are now expected to exhibit the core values of the bank, show the spirit of excellence, execution and enterprise in whatever you do.â&#x20AC;?

Rao added: â&#x20AC;&#x153;We believe that the youths are the future of every country so we selected the best from the universities to collaborate with them to build their leadership and creative skills so that they can be better leaders in the future, whether they choose to operate in the public sector or the private sector.â&#x20AC;?

He explained that the students were selected after an assessment to ensure that they possess the qualities that UBA prides itself in, adding, â&#x20AC;&#x153;you need to show that you have the spirit of enterprise, excellence and that you do what you say you will do, which is execution. These qualities are dear to us and to what we stand for here in UBA. And, because these people now represent the brand, they must also share this passion and be able to project the brand and what UBA stands for that is our core values.

The Head, Retail Liabilities, Tomiwa Sotiloye, explained that the students will undergo necessary training and will be expected to execute specific projects meant to add value to the environment. This he said will help them to understand all that is expected of them as brand ambassadors of the bank.

He thereafter charged them to be good leaders and positive influencers who should stand out by ensuring that the bankâ&#x20AC;&#x2122;s reputation soars in their respective campuses and beyond. â&#x20AC;&#x153;We know that we have selected the best out of all those of those who applied to be part of this programme and so we expect nothing short of the best from you as you take your studies seriously, add value to your schools and the society at large and represent the UBA brand in positive light always.â&#x20AC;?

House leaders with their trophies from left: second position, Topaz House, Miss Chinaza Afoamah; march past ďŹ rst position, Emerald House, Master Peter Orji; Proprietress of The Brains Premier School, Amuwo-OdoďŹ n, Lagos, Mrs. Ezinne Onoh; third position, Miss Ifunanya, Emerald House; and the overall winner, Amber House, Master Fitgerald Akaehomen, during the schoolâ&#x20AC;&#x2122;s inter-house sports competitionâ&#x20AC;Ś recently Photo: ABAYOMI AKINYELE

60 Nigerian Students Write Turkish Varsitiesâ&#x20AC;&#x2122; Scholarship Exam

106 Bag First Class, as UNIPORT Graduates 9,452

Ogechukwu Obi

A total of 106 graduands bagged first class as the University of Port Harcourt (UNIPORT) graduated 9,452 students during its 32nd convocation ceremony recently.

The graduands are for the combined 2016/2017 and 2017/2018 academic sessions.

The university also reaffirmed its policies of â&#x20AC;&#x153;no payment of charges, no examinationâ&#x20AC;? and zero tolerance for cultism and examination malpractices.

Addressing journalists in Port Harcourt as part of activities marking the convocation ceremony, the Vice-Chancellor, Prof. Ndowa Lale said 4,681 graduates would receive higher degrees from the School of Graduate Studies for the two sessions, while a total of 4,771 are for the undergraduate category with 3,205 for the 2016/2017 session and 1,556 for the 2017/2018 session.

On the payment of university charges, Lale stated that there is nowhere in the world where universities run on credit or are free.

He regretted that parents pay exorbitant fees for nursery, primary and post-primary education but raise eyebrows to meagre charges in the universities, yet they expect high standards. â&#x20AC;&#x153;I have seen parents that pay more than N2 million for their children in private secondary schools, but when it comes to UNIPORT, they quarrel with the payment of N45,000. That is wickedness. Yet when you go to Ghana, more than 70 per cent of foreign students are Nigerians and they pay much higher fees in dollars. â&#x20AC;&#x153;To make it easy, we have even asked the students to pay

About 60 Nigerian students recently joined their counterparts across the world to write the March edition of Uluyos examination, the entrance examination into about 83 Turkish government-owned universities.

According to a representative of Bursa Uludag University, Turkey, Prof. Ilker Arican, the examination, which held at Goodmus Learning Centre, Lagos is in consonance with the educational bilateral agreement between Nigerian and Turkish governments to give Nigerian students access to study in over 80 public universities in Turkey.

Briefing journalists in Lagos on the scholarship examination, the professor of Veterinary Medicine said the opportunity is not only open to Nigerians, but to students from 21 countries in Africa, Europe, Asia among others, that desire to study in a reputable university in Turkey. He said students who perform well will enjoy about 90 per cent scholarship on tuition only.

While stating that the entrance exam usually holds in November, May and March of every year, Arican said: â&#x20AC;&#x153;In Uludag University, we already have about 5,000 foreign students. We conduct exams for these students in 21 countries. After the exam, we make scores for all students.

Students with high scores would be accepted for the scholarship programme. â&#x20AC;&#x153;With the exam, students can be accepted in more than 80 universities in Turkey, which

has nearly 200 universities.

When they come, they also learn Turkish. After one year, they can work in Turkey as well.â&#x20AC;?

Aside quality education, he highlighted other benefits derivable by foreign students to include good learning environment, social amenities, sports and the amazing student town, located close to Uludag campus. â&#x20AC;&#x153;The university runs courses cutting across 14 faculties, including International Relations, Medicine, Engineering, Natural and Social Sciences and Arts, Law, Education, Agriculture, Sports, Vocational Studies among others. However, the students will do a Turkish course. The students must stay for one year in Turkey and that, they can do part-time jobs. It is easy to find jobs,â&#x20AC;?

Arican added.

Also speaking, the CEO Goodmus Learning Centre, Badmus Adekunle explained that the scholarship was aimed at reducing the huge cost of studying abroad by Nigerians in pursuit of higher education. â&#x20AC;&#x153;Goodmus Learning Centre and Wisdom House College are the ones that have a license to coordinate this scholarship exam and recruit students in Nigeria and Africa since 2014. â&#x20AC;&#x153;It is an entrance exam that you take and it enables you to enjoy the tuition that naturally Turkey nationals should enjoy.

It is made possible due to the educational bilateral agreement between the Nigerian government and Turkey to allow our students partake in an exam that their citizens like to take so as to enjoy government subsidy on education.â&#x20AC;?

Ernest Chinwo in Port Harcourt

N22,500 in the first semester and pay the balance in the next semester, yet they are complaining.â&#x20AC;?

He also stated that even when some parents give monies to their children to pay their fees, the students use the funds for frivolities only to claim one excuse or the other.

He also noted that the university gives students more than six months to pay the fees but they would rather wait till the last day and claim there was congestion in the banks and that was why they could not pay their fees. â&#x20AC;&#x153;So, we stand by the policy of â&#x20AC;&#x2DC;no payment of charges, no examinationâ&#x20AC;&#x2122; but it is not to victimise any student. We are doing our best to provide the students and lecturers the best facilities and these things cost money,â&#x20AC;? he stated.

He recalled that some students took the university to court some years ago over the policy, but the students lost the legal battle. â&#x20AC;&#x153;I am glad to report that despite the initial setback, management of the university recently floored these misguided students in their own case against us. â&#x20AC;&#x153;Unfortunately, these students have merely wasted their time and delayed their career progression on the misguided â&#x20AC;&#x2DC;adviceâ&#x20AC;&#x2122; of their â&#x20AC;&#x2DC;godfathersâ&#x20AC;&#x2122; and â&#x20AC;&#x2DC;patron saintsâ&#x20AC;&#x2122; who have now abandoned them to their fate. It is my hope that students will confine themselves to the main reason they are here and play by the rules.â&#x20AC;?

He however said the university would pardon the affected students if they come back to complete their programmes and abide by the rules of the institution.

34

T H I S D AY Ëž ÍąË&#x153; Ͱ͎ͯ͡

Stakeholders Brainstorm on Improving Vocational Education Funmi Ogundare Stakeholders drawn from the academia, business environment, government, non-profit organisations, among others recently converged on Radisson Blu Hotel, Victoria Island, Lagos for a Social Impact Reception with the theme â&#x20AC;&#x2DC;The Education Agenda: Rethinking Vocational Trainingâ&#x20AC;&#x2122;, designed to ensure that Nigerians, particularly from low income background, have access to quality education.

The programme, organised

by United Way Greater Nigeria, a non-governmental organisation with the objective of improving lives through the mobilisation of the caring power of Nigerian communities, saw panelists discussing issues relating to soft skills and youth employability, private sector participation, human capacity development, funding vocational training, meeting the needs of the labour market, among others.

The Coordinator, German Dual Vocational Training Partnership, AHK, Lagos, Mr. Kehinde Awoyele stressed the

importance of Technical and Vocational Education (TVE), saying that the private sector has to help to develop curriculum to train youths in skills set.

He highlighted his organisationâ&#x20AC;&#x2122;s efforts by partnering private bodies in developing curriculum and training youths in different skills, saying, â&#x20AC;&#x153;we believe that the only way we can move forward is to mobilise the private sector.

Though the government has a role to play in education, we cannot afford to leave it in the hands of the government because it is too expensive.

We need to create a structure for it and ensure that TVE is financed.â&#x20AC;?

In his remarks, former Executive Secretary of the Lagos State Technical and Vocational Education Board (LASTVEB), Chief Olawumi Gasper expressed concern that young school leavers are not attracted to TVE and graduates of tertiary institutions are roaming the streets looking for employment. â&#x20AC;&#x153;What works well in other climes may not work well in

Nigeria because youths are not attracted to TVE. We have a very huge deficit for skilled workforce. In order for us to address this problem, we need industry-relevant training for manpower development. There is no government that can deliver TVE in contemporary Nigeria.â&#x20AC;?

He also stressed the need for the industry to develop the curriculum, adding that training teachers that would in turn train the youths with the development of new technologies and machines will be an added advantage. â&#x20AC;&#x153;There are some skills set that are deficient in terms of quality and quantity, we need to set up an industry advisory council to drive experienced personnel to support the delivery of TVE and also ensure apprenticeship training,â&#x20AC;? he said, adding that the Industrial Training Fund (ITF) must be engaged to enable the apprentice training to succeed.

Gasper opined that for small businesses to thrive there must be skilled and competent manpower to support them.

The Executive Director,

West Africa Region, African Venture Philanthropy Association (AVPA), Mrs. Oluwatoyin Adegbite-Moore said the private sector has to be well engaged to ensure that the skills of the youths fit the industry, adding that local content and human capital development must also be emphasised. â&#x20AC;&#x153;There are a lot of models that are working that we need to key into, we need to train people for the oil and gas industry, it is also very important that we invest in TVE,â&#x20AC;? she said.

The Executive Director, United Way Greater Nigeria, Mrs. Olayide OlumideOdediran, who expressed delight about the contributions of the panellists, said, â&#x20AC;&#x153;private sector partnership is critical; vocational training is our responsibility be it from the employment angle to the curriculum and funding. They also talked extensively about looking beyond technical skills to the future of our economy; the new and digital economy and how that can also fit into TVET.â&#x20AC;?

KEHINDE OMORU www.kayomoru.com

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Ă? ĂŁĂ&#x2122;Ă&#x; Ă&#x2039;Ă&#x2013;Ă&#x153;Ă?Ă&#x2039;Ă&#x17D;ĂŁ Ă&#x2014;Ă&#x2039;Ă&#x2022;Ă? Ă&#x2013;Ă&#x2122;ĂĄ Ă&#x2013;Ă?Ă Ă?Ă&#x2013;Ă? Ă&#x2122;Ă? Ă&#x2014;Ă?Ă&#x2013;Ă&#x2039;Ă&#x17E;Ă&#x2122;Ă&#x2DC;Ă&#x201C;Ă&#x2DC;Ë&#x153; ĂŁĂ&#x2122;Ă&#x; ĂĄĂ&#x201C;Ă&#x2013;Ă&#x2013; Ă&#x2039;Ă&#x2013;ĂĄĂ&#x2039;ĂŁĂ? Ă?Ă&#x2122;Ă&#x2014;Ă&#x161;Ă&#x2122;Ă&#x;Ă&#x2DC;Ă&#x17D; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x2013;Ă?Ă?Ă&#x161; Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x152;Ă&#x2013;Ă?Ă&#x2014;Ă? Ă&#x152;ĂŁ Ă&#x2DC;Ă&#x2122;Ă&#x17E; Ă?Ă&#x153;Ă?Ă&#x2039;Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2039; Ă?Ă&#x2122;Ă&#x2DC;Ă&#x17D;Ă&#x;Ă?Ă&#x201C;Ă Ă? Ă?Ă&#x2DC;Ă Ă&#x201C;Ă&#x153;Ă&#x2122;Ă&#x2DC;Ă&#x2014;Ă?Ă&#x2DC;Ă&#x17E; Ă?Ă&#x2122;Ă&#x153; ĂŁĂ&#x2122;Ă&#x;Ă&#x153;Ă?Ă?Ă&#x2013;Ă? Ă&#x17E;Ă&#x2122; Ă?Ă&#x2039;Ă&#x2013;Ă&#x2013; Ă&#x2039;Ă?Ă&#x2013;Ă?Ă?Ă&#x161;Ë&#x203A; Ă&#x2019;Ă? Ă?Ă&#x2122;Ă&#x2013;Ă&#x2013;Ă&#x2122;ĂĄĂ&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x201C;Ă? Ă&#x2039; Ă?Ă&#x2019;Ă?Ă?Ă&#x2022;Ă&#x2013;Ă&#x201C;Ă?Ă&#x17E; Ă&#x2122;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x201C;Ă&#x17D;Ă?Ă&#x2039;Ă&#x2013; Ă&#x17E;Ă&#x2019;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă? Ă&#x17E;Ă&#x2122; Ă&#x17D;Ă&#x2122; Ă&#x2039;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x2DC;Ă&#x17D; Ă&#x2122;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x17D;Ă&#x2039;ĂŁË&#x153; Ă&#x17E;Ă&#x2122; Ă?Ă&#x2039;Ă&#x2013;Ă&#x2013; Ă&#x2039;Ă?Ă&#x2013;Ă?Ă?Ă&#x161;Ë? Ëž Ă&#x;Ă&#x153;Ă&#x2DC;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2122;Ă?Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x17E;Ă?Ă&#x2013;Ă?Ă Ă&#x201C;Ă?Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x153;Ă&#x2039;Ă&#x17D;Ă&#x201C;Ă&#x2122;Ë&#x203A; Ëž Ă&#x2014;Ă&#x161;Ă&#x17E;ĂŁĂ&#x201C;Ă&#x2DC;Ă&#x2018; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x152;Ă&#x2013;Ă&#x2039;Ă&#x17D;Ă&#x17D;Ă?Ă&#x153; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x152;Ă&#x2122;ĂĄĂ?Ă&#x2013;Ă? Ă&#x152;Ă?Ă?Ă&#x2122;Ă&#x153;Ă? Ă&#x152;Ă?Ă&#x17D;Ë&#x153; Ă?Ă&#x2122; ĂŁĂ&#x2122;Ă&#x; Ă&#x17D;Ă&#x2122;Ă&#x2DC;ËŞĂ&#x17E; Ă&#x2DC;Ă?Ă?Ă&#x17D; Ă&#x17E;Ă&#x2122; Ă&#x2018;Ă?Ă&#x17E; Ă&#x;Ă&#x161; Ă?Ă&#x2122;Ă&#x153; Ă&#x17E;Ă&#x2019;Ă? Ă&#x17E;Ă&#x2122;Ă&#x201C;Ă&#x2013;Ă?Ă&#x17E; Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2DC;Ă&#x201C;Ă&#x2018;Ă&#x2019;Ă&#x17E;Ë&#x203A; Ëž Ă&#x2013;Ă?Ă?Ă&#x161;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2122;Ă&#x2DC; Ă&#x2039; Ă?Ă&#x201C;Ă&#x153;Ă&#x2014; Ă&#x2014;Ă&#x2039;Ă&#x17E;Ă&#x17E;Ă&#x153;Ă?Ă?Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x161;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă&#x2122;ĂĄĂ? Ă&#x17E;Ă&#x2122; Ă&#x2039;Ă Ă?Ă&#x153;Ă&#x17E; Ă&#x152;Ă&#x2122;Ă&#x17D;ĂŁ Ă&#x2039;Ă?Ă&#x2019;Ă?Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x161;Ă&#x2039;Ă&#x201C;Ă&#x2DC;Ă?Ë&#x203A; Ëž Ă&#x201C;Ă&#x2014;Ă&#x2014;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2013;Ă&#x201C;Ă&#x2018;Ă&#x2019;Ă&#x17E; Ă&#x201C;Ă&#x2DC; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x152;Ă?Ă&#x17D;Ă&#x153;Ă&#x2122;Ă&#x2122;Ă&#x2014; Ă&#x2122;Ă&#x153; Ă&#x17E;Ă&#x;Ă&#x153;Ă&#x2DC;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x201C;Ă&#x17E; Ă&#x2122;Ă?Ă? Ă&#x2039;Ă&#x17E; Ă&#x152;Ă?Ă&#x17D;Ă&#x17E;Ă&#x201C;Ă&#x2014;Ă?Ë&#x203A; Ëž Ă&#x2039;Ă&#x2022;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2039; Ă&#x153;Ă?Ă&#x2013;Ă&#x2039;âĂ&#x201C;Ă&#x2DC;Ă&#x2018; Ă?Ă&#x2019;Ă&#x2122;ĂĄĂ?Ă&#x153; Ă&#x2122;Ă&#x153; Ă&#x152;Ă&#x2039;Ă&#x17E;Ă&#x2019; Ă&#x152;Ă?Ă?Ă&#x2122;Ă&#x153;Ă? Ă&#x152;Ă?Ă&#x17D;Ë&#x203A; Ëž Ă&#x2039;Ă&#x2022;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2039; Ă&#x2013;Ă&#x201C;Ă&#x2018;Ă&#x2019;Ă&#x17E; ĂĄĂ&#x2039;Ă&#x153;Ă&#x2014; Ă?Ă&#x;Ă&#x161; Ă&#x2122;Ă? Ă?Ă&#x2019;Ă&#x2122;Ă?Ă&#x2122;Ă&#x2013;Ă&#x2039;Ă&#x17E;Ă? Ă&#x17D;Ă&#x153;Ă&#x201C;Ă&#x2DC;Ă&#x2022; ĂĄĂ&#x2019;Ă&#x201C;Ă?Ă&#x2019; Ă?Ă&#x2122;Ă&#x2014;Ă? Ă?Ă&#x201C;Ă&#x2DC;Ă&#x17D; Ă&#x153;Ă?Ă&#x2013;Ă&#x2039;âĂ?Ă? Ă&#x17E;Ă&#x2019;Ă?Ă&#x2014; Ă&#x2039;Ă&#x17E; Ă&#x152;Ă?Ă&#x17D;Ă&#x17E;Ă&#x201C;Ă&#x2014;Ă?Ë&#x203A; Ëž Ă?Ă&#x2039;Ă Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2039; Ă&#x161;Ă&#x2039;Ă&#x153;Ă&#x17E;ĂŁ Ă?Ă&#x2039;Ă&#x153;Ă&#x2013;ĂŁ Ă&#x17E;Ă&#x2122; Ă?Ă&#x2039;Ă&#x17E;Ă?Ă&#x2019; Ă&#x2039; Ă&#x2018;Ă&#x2122;Ă&#x2122;Ă&#x17D; Ă&#x2DC;Ă&#x201C;Ă&#x2018;Ă&#x2019;Ă&#x17E; Ă?Ă&#x2013;Ă?Ă?Ă&#x161;Ë&#x203A; Ëž Ă?Ă?Ă&#x161;Ă&#x201C;Ă&#x2DC;Ă&#x2018; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x;Ă&#x153;Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x2DC;Ă&#x17D;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă? Ă&#x2014;Ă&#x2122;Ă?Ă&#x203A;Ă&#x;Ă&#x201C;Ă&#x17E;Ă&#x2122; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x153;Ă&#x2122;Ă&#x17D;Ă?Ă&#x2DC;Ă&#x17E;Ă?Ě&#x2039;Ă?Ă&#x153;Ă?Ă?Ë&#x203A; Ëž Ă&#x201C;Ă Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă?Ă&#x2013;Ă&#x2122;Ă?Ă?Ă&#x153; Ă&#x17E;Ă&#x2122; ĂĄĂ&#x2122;Ă&#x153;Ă&#x2022;Ë&#x203A; Ëž Ă&#x2039;Ă&#x2022;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2014;Ă?Ă&#x2013;Ă&#x2039;Ă&#x17E;Ă&#x2122;Ă&#x2DC;Ă&#x201C;Ă&#x2DC; Ă?Ă&#x;Ă&#x161;Ă&#x161;Ă&#x2013;Ă?Ă&#x2014;Ă?Ă&#x2DC;Ă&#x17E;Ă? Ă&#x2122;Ă&#x153; Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă?Ă&#x153; Ă&#x153;Ă?Ă&#x2013;Ă&#x2039;âĂ&#x2039;Ă&#x2DC;Ă&#x17E;Ă? Ă&#x161;Ă&#x153;Ă?Ă?Ă?Ă&#x153;Ă&#x201C;Ă&#x152;Ă?Ă&#x17D; Ă&#x152;ĂŁ ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x17D;Ă&#x2122;Ă?Ă&#x17E;Ă&#x2122;Ă&#x153; Ă&#x2122;Ă&#x153; Ă&#x161;Ă&#x2019;Ă&#x2039;Ă&#x153;Ă&#x2014;Ă&#x2039;Ă?Ă&#x201C;Ă?Ă&#x17E;Ë&#x203A;

Mrs Kehinde Omoru writes from the UK

Loyola Jesuit, Grundtvig, Others Get Top Schools Award

Some pupils of Amazing Talents School, Idimu, Lagos during the schoolâ&#x20AC;&#x2122;s cultural dayâ&#x20AC;Ś recently

Day Waterman College Organises 9th Sports Day Ugo Aliogo Day Waterman College (DWC) has organised the ninth inter-house sports competition, which is the annual sports day celebration of the college.

At the end of the sports competition, Purple House came first with 922 points; Yellow House came second with 733 points; while Red House was third with 714 points.

Speaking at the event in Abeokuta, Ogun State, the Principal of the college, Mr. Stewart Cowden, said the event provides an opportunity for the school to develop elite athletes and the sporting prowess of every young person who comes to the college,

He said it is important to make the distinction between elite athletes and those who participate for enjoyment, adding that the sports day was beyond creating fun to providing platform for the students to do the best they can as elite athletes.

Cowden explained that the college is in the process of identifying elite athletes that would go for specific programmes, engage in activities within the school, but the athletes would also be challenged against other top performing athletes.

He added that the college is trying to make sure that it challenges every athlete, adding that the college is trying to get students that have sports prowess and give them much opportunity to

develop. â&#x20AC;&#x153;Another initiative which the college does is sports leadership. It uses sports to promote leadership among the students. We are the only college in Nigeria that has been given certification in sports from United Kingdom and we have trained our members of staff to run this programme. What we are trying to do is to promote leadership through sports and it dovetails to the fact that studentsâ&#x20AC;&#x2122; improvement in sports and leadership impacts their academic performances. â&#x20AC;&#x153;The message here is that while focusing on elite sports men and women, we are also focusing on the general prowess of every single young person; we do that through the sports day. But at the same

time we also identify areas where we can challenge the students.â&#x20AC;?

In his remarks, the VicePrincipal, Joseph Lucas noted that a major improvement the college has achieved in the sports day celebration is time management, â&#x20AC;&#x153;the march past last year was a bit long, but for 2019, the college had to shorten it to finish on time and parents can also have time for their children.â&#x20AC;?

He stated that the sports programme that the college organises has had a huge impact on the students, adding that the various sports groups create network of leaders from where students are selected to lead others â&#x20AC;&#x153;and this teaches them about leadership, organisation and team work skills.â&#x20AC;?

Loyola Jesuit College, Abuja and Grundtvig International School, Oba, Anambra State, have received the 2019 Outstanding Award for Africa Top Schools, an initiative of Africa Brands Review.

Other schools that were also recognised include Olashore International School, Ijoko-Ijesa; Nigeria Tulip International College, Isheri; Marist Brothers Juniorate, Uturu, Abia State; Oritamefa Baptist Model Schools, Ibadan; Ambassadors Schools, Ota, Ogun State; Meadow Hall School, Lekki; and Eucharistic Heart of Jesus Model School, Ilorin.

Awards in Gold and Silver categories were presented to Trinity International College, Ofada, Ogun State, Faith Academy, Ipaja; Landmark University Secondary School, Kwara State and Holy Child College, Ikoyi respectively. In the primary school category, Grace Children School, Gbagada and Ifako International Nursery and Primary School, Ifako-Agege, emerged the Outstanding Primary Schools of the Year.

In the individuals and company category, Rev. Fr. Stanis Okoye of Loyola Jesuit College received the 2019 Outstanding Principal of the Year award;

Deacon Patrick Nkwoh of Faith Academy and Mulikat Sodeke of Ifako Ijaiye Government Secondary School, Lagos State, received the Unique Leader in Education Administration Awards, while Mouka Foam received the 2019 best mattress of the year award.

A Director in the Lagos State Ministry of Education, Mrs. Anna Ako, who lauded the contribution of the Africa Brands Review to the development of education in Lagos and Nigeria in general through the annual awards, said the state government is happy to be associated with the initiative.

Responding, Nkwoh expressed excitement about the recognition given to the school, while promising to mobilise the Abuja branch for next yearâ&#x20AC;&#x2122;s edition. â&#x20AC;&#x153;Our group has been challenged to do more,â&#x20AC;? he said.

The Executive Secretary of Africa Brands Review (ABR), Mr. Joseph Ayodele said the annual award started in 2012 and announced plan to make the Top Schools Report a yearly event. â&#x20AC;&#x153;The Nigerian University Report will be released in October, while the principal academy would start in June,â&#x20AC;? he said.

T H I S D AY Ëž ÍąË&#x153; Ͱ͎ͯ͡

35

Toyota Dream Car Contest Produces Winner Funmi Ogundare For her creativity in the art, a year seven student of Shining Star Group of Schools, Abuja, Miss Moyosoreoluwa TunjiAkeju has emerged winner of the annual Toyota dream car competition, an art competition organised for students between eight and 11 years old.

She defeated over 1,000 students that participated in the competition across the country and received a laptop computer and a certificate.

Speaking at the award ceremony held weekend at Toyota Nigeria Limited Office, Lagos, the Head, Corporate Affairs of the organisation, Mrs. Bukky Ogunnusi said the idea behind the concept is to be able to address a challenge and solve it in the area of transportation. â&#x20AC;&#x153;Generally, we have a concept that is new and exclusive.

Everybody is talking about being eco- friendly, so we were looking for something that can help the environment and save the world from pollution and protect the ozone layers. That is the idea and the creativity behind the drawing.â&#x20AC;?

As a way of bringing the creativity to reality, she said her organisation would study the concept, adding, â&#x20AC;&#x153;every product or entity starts with an idea.

Such idea is different, it is not something you can do immediately, it has to go through a process which we call the Toyota way.

We have to be sure it can work and we have to do a lot of research and other things on that idea; time is also involved before it can become reality.â&#x20AC;?

Tunji-Akeju, who expressed delight about her success, said, â&#x20AC;&#x153;I feel I have achieved something and made my school proud.â&#x20AC;?

She said she was inspired to draw when she saw a man that was scantily dressed on the road during her familyâ&#x20AC;&#x2122;s Christmas trip to the village last year. â&#x20AC;&#x153;I saw a man just tying a piece of cloth on his waist and I had the urge to sew a cloth for him even while the vehicle I was in was in motion. That was how I got the name Toyota sew on the go. I drew a sewing machine car and that was how it started. I feel proud to have emerged winner.â&#x20AC;?

She thanked the company for providing the medium to express her passion for sewing and arts, as well as the opportunities for students.

Her mother, Mrs. Olaide Tunji-Akeju said: â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a thing of joy having oneâ&#x20AC;&#x2122;s daughter emerging first overall in Nigeria. It wasnâ&#x20AC;&#x2122;t really a surprise.

I try to sew a little and she picked the interest from me and she got a sewing machine as a gift which inspired her to sew.â&#x20AC;?

She said her daughter is compassionate about helping people and thinks outside the box. â&#x20AC;&#x153;We normally give out our used clothing to orphanages so she is compassionate about giving people clothes. On our way to the village during Christmas last year, we saw a man that wasnâ&#x20AC;&#x2122;t wearing anything, so she felt how she wished she could use the car to sew while it was moving.

She thinks outside the box and she started imagining things and putting it into drawing. She has always been that special child, always thinking ahead of her mates.â&#x20AC;?

The Administrator of Shining Star Group of Schools, Ms. Ofe Imomoh, who expressed excitement about Tunji-Akejuâ&#x20AC;&#x2122;s success said, â&#x20AC;&#x153;we participated in

Perm Sec Makes Case for Computer Education Yinka Kolawole in Osogbo The Permanent Secretary, Osun State Ministry of Education, Mr. Festus Olajide has described computer as one of the greatest gifts of science in todayâ&#x20AC;&#x2122;s world.

The permanent secretary, who was represented by the Director, Schools, Mr. Festus Obi, stated this when the old students of Origbo Community Unity School Ipetumodu donated sets of computer and solar panels to mark the 60th anniversary of the school.

Olajide said the gesture by the old students is timely as the using the computer would enable students to be at par with their counterparts worldwide. He said computer allows students to have loads of information for future reference and makes them good learn-

ers.

He thanked the old students for their donation to the school and promised that the items would be well used and maintained.

Responding, the Principal of the school, Mrs. Rachael Alalade said the ICT hub would complement the efforts of the state government in the provision of qualitative and functional education for the blooming youths, especially in the area of ICT proficiency.

In his remarks, the President of the association, Oyegunle Adesiyan said the purpose of the ICT hub is to provide students access to computer technologies that are required by academic instructors.

The event was graced by several dignitaries, including the Chinese Ambassador to Nigeria, Mr. Zhou Pingjian.

2014 and came third. We are very happy that this year we came first. Basically we invite students who have interest in arts and drawing which seems to be quite prominent in our school and we are very happy that Moyo showed interest to portray the vision in art for the competition. The dream

idea is to design a creative car that can sew. â&#x20AC;&#x153;The competition took place in a school in Abuja with over 100 participants and a team of judges who made their pick from the three best in FCT and luckily our student came first. â&#x20AC;&#x153;We are extremely happy and excited because art is something that we are

very passionate about in our school. We have won several competitions both national and global and we have a track record of winning art competitions.

We are very happy and that makes us to keep developing the art talents of the children aside academics.â&#x20AC;?

Her Fine Art teacher, Mr.

Peter Okeke said though Tunji-Akeju has only spent a term in the school, she has stood out. â&#x20AC;&#x153;As a school, we develop the latent talent in our students in all areas and we have won awards in different competitions.

As an art teacher, I put them through when they get stuck.â&#x20AC;?

A cross-section of Heritage Bank Plc staďŹ&#x20AC;, teachers and pupils of Ataoja Government High School, Osogbo, during the CBN 2019 Global Money Week celebration in Osun Stateâ&#x20AC;Ś recently

Group Renovates 33 Toilets, Completes Borehole Project in Lagos School

School Highlights Importance of Sports to Child Devt

Ugo Aliogo

Unique Group of Schools, Lagos, recently held its triennial inter-house sports competition, when the importance of sports to all-round development of a child was emphasized.

The sports competition, held at Agege stadium, brought together pupils and students of the preschool, primary and secondary sections to participate in different athletics, march past, football and other games.

In her remarks, the Head of School, Mr. Gbenga Kareem said physical education is part of the curriculum which is important to the well being of every child, noting that the school is taking it with all seriousness. â&#x20AC;&#x153;Aside from academics which is very important to the growth of every child, they need to be fit and have this part of exercise to keep their body and soul together as well as all round development.â&#x20AC;?

He added that the school makes sure that the psychomotor aspect of learning is taken very seriously as they learn other aspects of education.

Kareem advised parents to compliment their efforts by allowing the children to pursue their God given talents saying, â&#x20AC;&#x153;It is not all of them that will be big men and women with their pens, some will use their legs, some their hands while some will use other skills God bequeath to them,â&#x20AC;?

He appealed to the government to invest in sports noting that it is one part of the economy they were not looking at which is vital to the nationâ&#x20AC;&#x2122;s development.

As part of activities marking the 20th anniversary of the Lagos Achievers Lions Club, a part of Lions Club International District 404A1, Nigeria, the club has renovated 33 toilets and completed a borehole project at Obalende Primary School, Lagos.

Speaking at the inauguration ceremony recently, the President, Esther Ajuma Ogo said the project was subject to availability of funds and prioritisation of already identified needs, adding that the club would do more in the school.

She said the club is focused on schools with serious needs, adding that the members spotted the primary school and realised that it was in a very bad shape. â&#x20AC;&#x153;To pick any school, we do a random sampling; we have done eye screening for the Police Community Primary School.

We screened 150 children and we discovered that 20 of them needed eye glasses and five needed operation, which we have taken care of with the help of our district governors and the regions. â&#x20AC;&#x153;To celebrate our 20th anniversary, we felt we should do a sampling of the school that really needs basic facilities and repair those facilities in order to assist the

children in learning. We noticed that the toilets were blocked and bad, and they had no water system. Therefore, we had to do borehole drainage and we had to change it, provide 33 water cisterns and wash basins. â&#x20AC;&#x153;We are looking at engaging two or three teachers for the school so that the classes will be spread. We also realised that in the classes they donâ&#x20AC;&#x2122;t have chairs and it is part of our continuous project which we are going to do complete our work and make them very stable.â&#x20AC;?

Ogo added that the club has made arrangements to get a cleaner that would be taking care of the toilets especially in sanitation and maintenance daily.

She said the club has realised that the school doesnâ&#x20AC;&#x2122;t have enough teachers; therefore it is making plans to engage a teacher to ensure that the pupils are not crowded and they are well taught in class.

It was learnt during the event that as part of a plan to educate the teachers and pupils on proper sanitation and plastic waste management, the club also provided litter bins in strategic places around the school; it also engaged a sanitation officer to help with the reduction of litter and supervision of the renovated toilets.

The principal, Mrs. Oluwakemi Onochie said the cognitive aspect of learning is always emphasized in education but to have a total child at the end of the day, â&#x20AC;&#x153;it is important to also engage the children in the psychomotor aspect of learning and that is what we are doing today. â&#x20AC;&#x153;A lot of them are academically sound, a lot are not too good in academics, but they are very sound when it comes to physical skills. So the occasion of today is to showcase the physical skills, the talent, the gift in the children along side academics.â&#x20AC;?

On parents supporting children who want to make a career of sports, Onochie emphasised the need to support them in order to excel in any sports of their choice. â&#x20AC;&#x153;It is not every child that will become a doctor or engineer, some are out to excel in life as a result of gift in their physical skills, so parents should allow God to lead and direct a child to become what he is destined to be. â&#x20AC;&#x153;Of course we all know that a lot of men and women are making it all over the world in sports, so we should encourage the children in whatever area they have interest in.â&#x20AC;?

On improvement of education in the country, the educationist said the government still needs to do more in all sections of education.

She added that they need to follow through when they came up with a particular system no matter the change in government.

36

T H I S D AY Ëž ÍąË&#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;

Passion for the Needy in Anambra David-Chyddy Eleke writes that the wife of Anambra State Governor, Mrs. Ebelechukwu Obiano, has continually put smiles on the faces of the needy in the state, a gesture that comes from a place of passion

W

ife of Anambra State Governor, Mrs Ebelechukwu Obiano has in the five years that her husband has tended the state earned for herself the title of â&#x20AC;&#x2DC;Anambraâ&#x20AC;&#x2122;s Mother Theresaâ&#x20AC;&#x2122;. From building houses for indigent widows in the state to training women in skill acquisition and setting them up with capital and purchase of equipment, down to her efforts in bringing sanity to insane people through rehabilitation, Mrs Obiano stands out.

Not so long ago, she had also distributed prosthetic limbs and arms to physically challenged people in Anambra, and she has remained consistent in making it a regular affair, all free of charge for those who register at her office and have the measurement of their limbs taken by the expatriate workers, who she contacts for the job. All these she does through her non governmental organisation, Caring Family Enhancement Initiative(CAFE).

It was tears of joy and encomium for beneficiaries of her empowerment months back too, during the graduation ceremony of batch five of CAFE trainees as Obiano presented tools for small scale business ventures free to the beneficiaries. The equipment include sewing machines, baking tools, gas cooker with oven, hair dressing kits and dryers, soap making mould and scale weight measure and computer sets and repair kits amongst others. Each person equally received start-up capital of the sum of N20,000 and another N2,000 as transportation money back home.

The 350 graduands had previously undergone six weeks intensive training programme in 2018 in various skills including Hairdressing, Tailoring & Fashion Design, Bakery & Confectionery, Soap making and Computer repairs.

Addressing the graduands, Obiano said it gives her immense pleasure to see smiles on the faces of the needy, adding that she felt fulfilled to have come far in helping mankind. She tasked the beneficiaries to build on their new skills, equipment and start-up capital they received and ensure they make good use of the resources.

She said: â&#x20AC;&#x153;You have just received one sewing machine and other tools but I want each and every one of you to grow in the business and become employers of labour with many more equipment.

That is my prayer for you.â&#x20AC;?

Many have always wondered what her inspiration is, especially as she is known to have embarked on visits to the home of prominent persons in the state just to ask for assistance that can help her take care of the needy. But recently, in a programme while addressing women she disclosed that her goal was to groom economically self-reliant women who are able to make positive contributions for the growth and progress of the family and the community, especially in Anambra.

She said she cared less if those being empowered were from Anambra or anywhere else, but so long as they lived in Anambra, she owed them good welfare and support. According to her, â&#x20AC;&#x153;When women and the girl-child are trained and empowered they become economically self-reliant; their self-confidence and self-esteem is boosted and with better quality of life, they are no longer seen as burden on the family but rather contributes to family upkeep. This is why CAFĂ&#x2030; assists and empowers the physically challenged, indigent persons (particularly women, widows) and the less privileged in local/communities in Anambra State Nigeria.â&#x20AC;?

Obiano who is most popularly addressed as Osodieme(one who joins her husband in impacting society) highlighted that CAFĂ&#x2030; initiatives has in total impacted about 5,000 women with training and new skills, and empowerment free-of-charge in several areas.

She has recently found a new area of impacting society by partnering an international organisation, Smile Train in offering free surgeries for children with cleft lips and palate in the state. The birth defect, which was formerly seen as not having any solution, especially among indigent people has today become an easy thing to deal with, through Mrs Obianoâ&#x20AC;&#x2122;s CAFE, which has so far offered free corrective surgeries to as many as over 100 patients in the state.

Weeks back, she broke a new record as the first partnership organisation to meet with Smile Train in its new York office. The President/Chief Executive

CerttiďŹ cate presentation

graduands of Smile Train, Susannah Shafer had invited her to a meeting for her immense contributions, and selfless services through her NGO to cleft care, by facilitating corrective surgeries for children with congenital birth defect of cleft lip or palate in Anambra State.

Shafer commended her during the global partner meeting with the CAFĂ&#x2030; team, which she led to the corporate headquarters of Smile Train, 633 Third Avenue, New York, United States of America.

She acknowledged CAFEâ&#x20AC;&#x2122;s successful collaboration with Smile Train in Nigeria for five years stressing that the meeting with Osodieme is the first of its kind with a partner organisation at their headquarters. According to Shafer; â&#x20AC;&#x153;it is incredible, what you are doing in the area of the welfare of women and children is amazingâ&#x20AC;?.

The Chief Executive of Smile Train explained that the work of the organisation is empowerment; raising of funding for awareness about cleft deformity and channeling the funds and resources to local medical professionals in partner hospitals so that children in the communities can benefit through life saving surgeries.

Shafer further stated that it is important to Smile Train that they have not just the medical provision but government support of the initiative in local communities. She pledged the organisationâ&#x20AC;&#x2122;s support through awareness grant to partner hospitals to boost campaign identifying and locating cleft lip/palate patients especially in hard to reach communities.

In her reaction, Obiano thanked Shafer for the technical support of the Smile Train team, which

Osodieme carrying a baby with cleft deformity has seen CAFĂ&#x2030; facilitating over one hundred free corrective surgeries performed on beneficiaries in the state.

She noted that the meeting has been rewarding because it has not only cemented the ongoing partnership between the two organisations but has yielded the additional benefit of funding through the local hospital for more awareness creation.

She further stated that one of the ways CAFE fights trafficking in persons is through other initiatives like the skills training and empowerment of over 4,400 women in the following areas: Tailoring and Fashion design, Soap making, Bakery and

Confectionery, Hair dressing and Beauty Therapy, and Interior Decoration, Telephone and Computer repairs, Community Health Assistant Services as one way of encouraging their financial independence.

She expressed happiness that the international organisation focused on empowering local medical professionals to provide free cleft lip and/or palate surgery and comprehensive cleft care to children globally; shares similarity with CAFĂ&#x2030;, which is an NGO with the vision to being a beacon of sustainable empowerment for indigent women and widows, youths, the physically challenged and the less privileged.

37

T H I S D AY Ëž ÍąË&#x153; Ͱ͎ͯ͡

CRIME&SECURITY

Idoma Community Urges FG to Rehabilitate Family of Slain NSCDC Officer The Idoma community in the Diaspora has pleaded with the Federal Government to rehabilitate the family Ogar Jumbo Ochigbo, an Assistant Superintendent of the Nigerian Security and Civil Defence Corps (NSCDC), who was allegedly killed by officers of the Nigerian Police in Abuja.

In a statement issued over the weekend, the Idoma community in the United States of America and Canada decried the untimely death of " a son of Idoma" asking the government to ensure justice for the family.

The statement signed by the President of the Association, Jolly Ogbole Abu, said they also want the children to undergo proper medical and sociological welfare programme to mitigate the violence they were exposed to.

Abu said: "We received with shock, the untimely death of one of our sons, in the hands of an officer of the Nigeria Police over an altercation ensuing from driving on a one way strip of road to get his children to meet the school start time.

"Late Mr Ogar Jumbo Ochigbo, an Assistant Superintendent of the Nigerian Security and Civil Defence Corps does not deserve to die at such a young and promising age for whatever offence the Police Officer must have thought he committed in such a brutal, barbaric and inhuman way and surely not in the presence of his wife and little kids.

"We have also heard of how one of the kids pleaded with the Policeman not to kill her father; a plea that, of course, fell on deaf ears stuffed with a compulsion to kill.

"We decry the unwarranted killings of Nigerians that has become a routine in the hands of our trigger happy security agents and surely must call on the Inspector General of Police to immediately take the necessary steps to bring the culprits to book. â&#x20AC;&#x153;Steps must be taken to ensure the proper rehabilitation of the family,

particularly the children who will surely become traumatised by this dastardly act for their life time.

"In this regards, they must be subject to a proper medical and sociological welfare programme that can mitigate the repercussions of their exposure to this violent experience," he said.

Meanwhile, the Inspector General of Police, Mohammed Adamu, has ordered a comprehensive and speedy investigation into the circumstances surrounding the death of the deceased.

While condoling with the family, the commandant general of the NSCDC, friends and professional colleagues of the deceased, the IG reassured them that everything

humanly possible would be done to ensure that justice prevails in the case.

This was contained in a statement by the Force Public Relations Officer, DCP Frank Mba, who also stated that the IG equally â&#x20AC;&#x153;enjoins that the NSCDC, along with the family of the deceased, may, for the purpose of transparency, nominate any medical doctor of their choice to witness the autopsy, at the appropriate time and venue. â&#x20AC;&#x153;Needless to state that an autopsy, which is a comprehensive forensic examination on the body of a dead person, will help the investigators to have a definitive understanding of the real cause of death of the deceased.â&#x20AC;?

The duo of Oyegunwa and Adamson

TIDBITS ABOUT THE NIGERIAN NAVY Symbol of the NN

The Nigerian Navy ensign is white, with the Nigerian national flag in canton and naval badge in fly. The badge consists of a blue oval, containing a cable white anchor topped with the red national bird, all bordered with yellow containing black inscription NIGERIAN NAVY / ONWARD TOGETHER.

Ranks of Commissioned Officers

Late Ochigbo

Lagos Taskforce Arrests Two for Impersonation, Extortion The Lagos State Environmental Sanitation and Special Offences Unit (Task Force) has arrested two suspects, Ademola Oyegunwa and Olaogun Adamson, for impersonating officers of the agency and extorting money from a motorist at Ojota.

Disclosing details of the incident, Chairman of the Task Force, CSP Olayinka Egbeyemi said the two suspects were apprehended by the 'Monitoring and Enforcement Team of the agency after

CRIME SITUATION REPORTS

they had negotiated and collected N15,000 bribe.

Egbeyemi stated that preliminary interrogations revealed that the suspects presented themselves as officers of the agency and arrested a motorist for traffic obstruction by Ojota bus-stop.

He said, "They arrested the owner of the vehicle for obstruction at Ojota, drove him down to Bolade bus-stop opposite Task Force office where they negotiated and collected the sum of

N15,000 from him".

According to Egbeyemi, the agency also discovered that the suspects had perpetrated the act before. He added, "we have severally received complaints from motorists, particularly commercial bus drivers, about activities of these unscrupulous fraudsters who specialise in impersonating officers of the agency and defrauding people across the state".

The Chairman reiterated that the police officers attached to Lagos State Task Force enforcing traffic and environmental sanitation laws wear jackets with inscription of 'LASG TASKFORCE' for proper identification while on duty.

He clarified that only Lagos State Task Force and LASTMA are empowered by law to enforce traffic laws on 'BRT' corridors across the state.

While urging motorists to desist from giving bribe to traffic enforcement officers, the Chairman disclosed that the Lagos State Commissioner of Police, CP Zubairu Muazu, has directed that the arrested suspects, who have both confessed to the crime, be arraigned immediately.

The two suspscts claimed to be making N50, 000 to N70, 000 from such illegal duties.

rMid-Shipman: This is the junior most rank for commissioned officers in the Nigerian Navy. lt corresponds with the rank of Pilot Officer in the Nigerian Air Force and the rank of Second Lieutenant in the Nigerian Army. r Sub-Lieutenant: This rank is above mid-shipman and below the Lieutenant. Its equivalent ranks in the Nigerian Army and Nigerian Air Force are Lieutenant and Flying Officer, respectively. rLieutenant: This corresponds with the rank of Captain in the Nigerian Army and the rank of Flight Lieutenant in the Nigerian Air Force. rLieutenant Commander: This corresponds with the rank of Major in the Nigerian Army and the rank of Squadron Leader in the Nigerian Air Force. It is the rank above Lieutenant and below Commander. Note: The word â&#x20AC;&#x153;lieutenantâ&#x20AC;? means â&#x20AC;&#x153;assistant or deputy. rCommander: This is the rank above that of LieutenantCommander and below that of Captain. lt corresponds to the rank of Lieutenant Colonel in the Nigerian Army and the rank of Wing Commander in the Nigerian Air Force. rCaptain: Corresponding to the Colonel rank in the Nigerian Army, the Captain rank is above that of Commander and below that of the Commodore. Officers in the rank of Captain are usually in charge of largest ships at sea. rCommodore: This is the rank above Captain and below Rear-admiral. It is equivalent to Brigadier in the Nigerian Army and Air Commodore in the Nigerian Air Force. rRear Admiral: This is the rank below that of a Vice admiral and above that of a commodore. They are otherwise referred to as two-star generals. Rear admirals are the most junior officers among the â&#x20AC;&#x153;Admiralty ranksâ&#x20AC;? and are sometimes referred to as flag officers. rVice Admiral: This rank is equivalent to Lieutenant General in the Nigerian Army and Air Vice Marshal in the Nigerain Air Force. It is above the rank of rear admiral and below the rank of Admiral. Officers at this rank are also called 3-star officers. rAdmiral : This is technically the highest rank in the Nigerian Navy, as the only rank superior to it is more of a honorary type.

The rank is above that of vice admiral and below Admiral of the Fleet. It is equivalent to the rank of General in the Nigerian Army and that of Air Chief Marshal in the Nigeria Air Force. r Admiral of the fleet: This is the highest rank of the Nigerian Navy. It is rarely conferred, as it is more of a honorary position.

It is equivalent to the rank of Marshal of the Nigerian Air Force in the Nigerian Air Force and to the rank of Field Marshal in the Nigerian Army.

Ranks of Non Commissioned Officers r 8BSSBOU $IJFG 1FUUZ 0GGJDFS r $IJFG 1FUUZ 0GGJDFS r 1FUUZ 0GGJDFS r -FBEJOH 3BUJOH r "CMF 3BUJOH r 0SEJOBSZ 3BUJOH r 5SBJOFF Source: Google (Nigerian Finder.com)

38

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

BUSINESS/MONEYGUIDE

Lagarde: Global Economy Has Lost Momentum Since January Global growth has lost momentum since the start of the year, leaving the world economy in a â&#x20AC;&#x153;precariousâ&#x20AC;? position, the Managing Director of the International Monetary Fund (IMF), Christine Lagarde said yesterday.

The global economy has weakened since the IMF last updated its forecast in late January, though a recession isnâ&#x20AC;&#x2122;t likely in the near term, Bloomberg quoted Lagarde to have said in remarks prepared for a speech at the US Chamber of Commerce in Washington.

Lagarde, characterised the slowdown as a â&#x20AC;&#x153;synchronised decelerationâ&#x20AC;? during a panel discussion after her speech.

In January, the fund lowered its projection for world economic growth, forecasting expansion of 3.5 per cent this year and 3.6 percent in 2020.

It was the IMFâ&#x20AC;&#x2122;s second cut in the outlook in three months.

The fund would release its new World Economic Outlook with an updated growth forecast on April 9. â&#x20AC;&#x153;The global economy is at a â&#x20AC;&#x2DC;delicate moment,â&#x20AC;&#x2122;â&#x20AC;? Lagarde said in her speech.

Her warning comes as global finance ministers and central bankers prepare to convene in Washington next week for the semi-annual meetings of the IMF and World Bank.

While confidence has been boosted by the Federal Reserveâ&#x20AC;&#x2122;s switch to a more patient stance and signs of a trade deal between the US and China, investors remain concerned the global expansion may be running out of steam a decade after the financial crisis.

Lagarde said the global economy was set to benefit from the patience of major central banks, as well as increased stimulus by the Chinese government.

The IMF predicts global growth would pick up â&#x20AC;&#x153;someâ&#x20AC;? in the second half of 2019 and into 2020, she said.

Still, that rebound remains vulnerable to a host of risks, including Britainâ&#x20AC;&#x2122;s exit from the European Union, high debt in some sectors and countries, trade tensions and â&#x20AC;&#x153;a sense of unease in financial markets,â&#x20AC;?

Lagarde said.

Given the state of the global economy, itâ&#x20AC;&#x2122;s important for

policy makers to avoid missteps, she said. Monetary policy should remain accommodative where inflation is below target, while exchange-rate flexibility should be used as needed, according to Lagarde. Regulatory reforms aimed at strengthening the financial sector should continue, she added.

High public debt and low interest rates have left â&#x20AC;&#x153;limited room to act when the next downturn comes, which inevitably it will,â&#x20AC;? she said. â&#x20AC;&#x153;I am not saying that we currently have a â&#x20AC;&#x2DC;monopoly problem.â&#x20AC;&#x2122; But I am saying that we should take appropriate measures -- so that it does not become a problem,â&#x20AC;? she said.

Lagarde reiterated her warning for countries to avoid imposing new tariffs on each other. An increase in tariff by 25 per centage points on all goods traded between the US and China would reduce annual output in the U.S. by up to 0.6 per cent, and up to 1.5 per cent in China, she said. â&#x20AC;&#x153;These are potentially selfinflicted wounds that should be avoided,â&#x20AC;? Lagarde said.

L-R: Chairman, Board of Trustees, Women in Management and Business (WIMBIZ), Funmi Roberts; Keynote Speaker, Bolanle Austen-Peters and Chairperson, Executive Council, WIMBIZ, Olubunmi Aboderin Talabi, at the 2019 WIMBIZ annual lecture in Lagos, recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

NOVEMBER 2018 Money Supply (M3)

31,794,803.44

Expert Cautions FG onVAT Increase

-- CBN Bills Held by Money Holding Sectors

6,333,064.28

Money Supply (M2)

25,461,739.17

Eromosele Abiodun

-- Quasi Money

14,773,076.98

-- Narrow Money (M1)

10,688,662.18

As operators in different sectors of the economy continue to advise the federal government against an upward review of the Value Added Tax (VAT), a Port Harcourt-based oil and gas business magnate, Mr Adamu Mutairu, has said a hike in the VAT will not only be counterproductive, but would further impoverish Nigerians, lead to an increase in the cost of goods and services and intensify inflationary pressure.

In a chat with THISDAY, he said it was already bad enough that difficult business climate resulting from election anxiety, insecurity and hostile government policies among others have continued to hamper the growth of businesses. â&#x20AC;&#x153;For me, it is necessary that any attempt at VAT increment must take into consideration

the difficult times in the countryâ&#x20AC;&#x2122;s economy. It is apparent on the need for the Federal Inland Revenue Service to redouble its efforts to ensure that more people are widely captured into the VAT net in order to boost the nationâ&#x20AC;&#x2122;s revenues. â&#x20AC;&#x153;Obviously, lots of people and corporate entities in the country are not paying VAT following the inability of the FIRS to aptly capture such individuals or corporate entities, furthermore others are paying taxes without VAT due to reduced compliance, â&#x20AC;?he said.

He also said increasing VAT was an indirect way of inflicting pains and sending the wrong signals to Nigerians a few days after the re-election of the president. Adamu, who cited the different reports by the National Bureau of Statistics (NBS) that demonstrated that expansion in the nation was

driven more by cost-push factors than interest pull against the outlook of powerless aggregate demand, argued that if VAT is increased without a corresponding decrease in Corporate Income Tax, it would additionally build the cost of goods and services, intensify inflationary anxiety, depress stocksâ&#x20AC;&#x2122; price and increase transactions cost in the country.

He urged the federal government to continue to sensitise and encourage Nigerians to cultivate the culture of paying taxes by ensuring fair implementation policy and effective utilisation of resources. He said there was need for the federal government to take deliberate steps to enhance and expand the Governmentâ&#x20AC;&#x2122;s revenue base, but not one that will impoverish the people and pitch them against the government.

---- Currency Outside Banks

1,711,763.59

---- Demand Deposits

8,976,898.59

Net Foreign Assets (NFA) 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

Nume Ekeghe One of the leading mobile money operators in Nigeria, Paga yesterday marked its 10th anniversary, just as it announced it has processed over $4.6million transactions since it commenced operation.

The mobile money company is also planning to expand to other countries.

The founder and CEO, Paga, Tayo Oviosu, said this at a media parley to celebrate the firmâ&#x20AC;&#x2122;s 10 years anniversary.

Also, he said the firm plans to expand to Mexico and Ethiopia in a bid to meet its target of one billion users. â&#x20AC;&#x153;We want to scale to become an emerging markets powerhouse and we are doing that by going after some large countries where the problems we seek to solve still exists. â&#x20AC;&#x153;Nigeria is first stop and we are very proud of our Nigerian roots and it is a platform that can

stand shoulder to shoulder with any other payment company and can be used anywhere in the world. â&#x20AC;&#x153;We believe this business should grow past Nigeria and we are looking at Mexico and Ethiopia and we would leverage the fact that our currency is multicurrency and multilingual and the problems we are seeking to solve exists very strongly in these countries,â&#x20AC;? he explained.

On the successes and growth since inception, he said currently, Paga has over 12.1 million active users, over 20,000 agents, and has processed over 17 million transactions.

He explained: â&#x20AC;&#x153;In terms of our transaction in volume, it has been growing every year.

Today, we have done over N1.2 trillion and if you divide at the exchange rate at each point, it would amount to $4.6 million worth of transactions in a 10-year period. â&#x20AC;&#x153;When we look back in the 10 years of Paga, we now

have over 20,000 agents today and we estimate conservatively that those 20,000 agents have already created over 10,000 jobs.

So while are proud over our 800 jobs we have created over 10 years, really we also celebrate the multiplier effect.â&#x20AC;?

He further added: â&#x20AC;&#x153;What we are doing in Paga and we are continuing to do is by building an ecosystem and that enables people to digitally send and receive money and access financial services. â&#x20AC;&#x153;And for us building that ecosystem and putting it together and within is the platform itself of a multicurrency and multi people. The purpose we a leading towards is that we want it to be simple for 1 billion people to access and use money.â&#x20AC;?

On celebrating its 10years milestone, he said: â&#x20AC;&#x153;We are very proud to celebrate this milestone.

At Paga, we say we are making life possible for our customers.

Ëž Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

Paga Hits $4.6bn Transactions in 10 years

18,990,400.78

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 FRIDAY, 29 MARCH 2019

The price of OPEC basket of fourteen crudes stood at $68.31 a barrel on Monday, compared with $67.23 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 Ë&#x153; ÍąË&#x153; 2019

MARKET NEWS

Equities Market Declines Further as Investors Ignore Companiesâ&#x20AC;&#x2122;Results Goddy Egene The Nigerian equities market witnessed further decline yesterday as investors appeared to be ignoring the 2018 financial results of companies. The market had shed 1.2 per cent in the first quarter of 2019 majorly due to political risks. Stakeholders have been hoping that the reduced political tension after the general elections and release of corporate results including declaration of

dividends would lead to recovery.

However, the market remained bearish and has shed 2.6 per cent in the first two days of the second quarter.

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) went down by 0.99 per cent yesterday to close at 30,226.70 as 28 stocks declined. The market capitalisation shed N169 billion to be at N11.4 trillion. The decline was propelled by losses suffered by Nigerian Breweries Plc, Nestle Nigeria Plc

P R I C E S MAIN BOARD

F O R DEALS

and Unilever Nigeria Plc. The three firms have released their results and declared dividends.

Nestle Nigeria , for instance, delighted investors with improved bottom-line and higher dividend.

The company reported a revenue of N266.27 billion, showing an increase of 9.0 per cent compared with N244.1 billion posted in 2017. Net finance cost dipped by 89.9 per cent from N8.869 billion to N889 million last year. As a result, profit before

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

QUANTITY TRADED

VALUE TRADED ( N )

tax (PBT) improved by 27.5 per cent from N46.83 billion in 2017 to N59.75 billion, while profit after tax (PAT) grew from N33.72 billion to N43 billion in 2018.

The board directors recommended a final dividend of N38.50 per share and having paid an interim dividend of N20 per share before now, the total dividend for the 2018 would be N58.50 per share. This shows an increase of 37 per cent compared with N42.50 paid in 2017.

T R A D E D MAIN BOARD

A S

But the stock fell 3.5 per cent to close at N1, 400 per share yesterday. However, Beta Glass Plc and Forte Oil Plc led the price gainersâ&#x20AC;&#x2122; table with 9.9 per cent apiece, trailed by Vitafoam Nigeria Plc with 9.6 per cent.

Oando Plc, which announced a growth of 46 per cent on Monday, was also among the price losers, going down by 7.8 per cent.

The integrated energy firm recorded a turnover of N679 billion, indicating a growth of

O F

37 per cent from N497.4 billion in 2017. Profit after tax rose by 46 per cent from N19.8 billion to N28.8 billion in 2018. â&#x20AC;&#x153;The NSE, in collaboration with Federal Ministry Environment, Federal Ministry of Finance and Debt Management Office hosted a high profile conference themed: â&#x20AC;&#x153;Green Bonds: Investing in Nigeriaâ&#x20AC;&#x2122;s Sustainable Developmentâ&#x20AC;? in 2016 that provided an opportunity for the government to engage the capital market stakeholders.

2 9 / 0 3 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, APRIL 3, 2019

40

Wednesday, April 3, 2019 Thisday Afrinvest 40 Index Declines 1.5%

THISDAY AFRINVEST 40 INDEX

zĞƐƚĞƌĚĂLJ͕ ƚŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ϭ͘ϱй ƚŽ ƐĞƩůĞ Ăƚ ϭ͕ϰϲϬ͘ϯϵ ĚƵĞ ƚŽ ƐĞůů ŽīƐ ŝŶ ZENITH (-2.7%), NESTLE (-3.4%) and NIGERIAN BREWERIES (-ϵ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

account for 23.2% of the index.

dŚĞ ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚ ŽŶƟŶƵĞƐ >ŽƐŝŶŐ ^ƚƌĞĂŬ͙ ASI Down 1.0% zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ĞdžƚĞŶĚĞĚ ŝƚƐ ůŽƐƐĞƐ ƚŽ

Ticker

Current Price

THISDAY AFRINVEST 40

P/BV

Divindend Earnings Yield Yield

-0.5%

46.0%

21.5%

7.8%

5.4x

0.7x

5.5%

0.0%

20.1%

4.5%

4.3%

31.2%

5.5%

5.5x

1.9x

7.6%

18.2%

2 Zenith Bank PLC

21.30

-2.7%

11.5%

-7.6%

2.7%

22.6%

3.2%

3.6x

0.8x

12.8%

27.5% 11.8%

3 Dangote Cement PLC

13.1%

193.00

1.0%

9.2%

1.7%

3.8%

44.6%

23.2%

8.5x

3.4x

8.3%

1,400.00

-3.4%

7.7%

-5.7%

-5.1%

90.4%

27.8%

25.8x

22.1x

4.2%

3.9%

56.90

-9.7%

4.0%

-33.5%

-25.6%

11.3%

5.0%

23.1x

2.7x

4.3%

4.3%

6 FBN Holdings Plc

7.90

-1.3%

5.2%

-0.6%

-1.3%

6.6%

0.8%

5.7x

0.4x

3.1%

17.7%

17.95

0.0%

4.2%

-7.5%

-7.5%

34.2%

19.6%

5.4x

1.3x

2.5%

18.5%

8 United Bank for Africa PLC

7.50

-2.6%

4.2%

-2.6%

-3.8%

15.2%

1.7%

3.4x

0.5x

11.3%

29.4%

9 International Brew eries PLC

26.00

0.0%

3.0%

-14.8%

-17.5%

-23.8%

-3.2%

590.00

0.0%

3.3%

-7.8%

-4.9%

9.4%

5.7%

6.4x

0.6x

3.1%

15.6%

7.7%

and UNILEVER (-8.5%). As a result, the Benchmark Index shed

7 Cement Co Northern Nigeria PLC

1.0% to 30,226.7 points while YTD loss further dipped to -3.8%

traded stocks by value were NESTLE (N905.2m), NIGERIAN

P/E

-1.51%

5 Nigerian Brew eries PLC

volume traded declined by 78.2% to 376.5m units. The top

ROA

36.00

losses in NIGERIAN BREWERIES (-9.7%), NESTLE (-3.5%)

mixed as value traded advanced by 23.3% to N4.5bn while

ROE

1,460.39

4 Nestle Nigeria PLC

ĐĂƉŝƚĂůŝƐĂƟŽŶ ĨĞůů ƚŽ Eϭϭ͘ϰƚŶ͘ &ƵƌƚŚĞƌŵŽƌĞ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ

Price Change Index to Date

1 Guaranty Trust Bank PLC

the second trading session of the week on the back of sustained

ĂŶĚ EϭϲϵďŶ ǁĂƐ ǁŝƉĞĚ Žī ŝŶǀĞƐƚŽƌƐ͛ wealth as market

Price Previous Current Change Price Weightin YTD Change g

10 SEPLAT Petroleum Development C 11 Access Bank PLC

6.3x

-1.4%

6.50

0.0%

3.2%

-4.4%

0.0%

19.1%

2.1%

2.0x

0.4x

12 Ecobank Transnational Inc

12.50

-2.0%

2.6%

-10.7%

-12.6%

15.3%

1.2%

3.3x

0.6x

13 Stanbic IBTC Holdings PLC

46.25

0.4%

2.6%

-3.5%

-0.4%

34.5%

4.7%

6.5x

2.0x

3.2%

14 Unilever Nigeria PLC

35.70

-8.5%

2.3%

-3.5%

-3.5%

14.7%

9.0%

17.6x

2.5x

4.2%

5.7%

15 Lafarge Africa PLC

12.20

0.0%

1.6%

-2.0%

1.7%

-53.7%

-7.9%

0.8x

12.0%

-51.6%

50.9% 30.4% 15.3%

16 Guinness Nigeria PLC

62.45

0.0%

BREWERIES (N776.5m) and GUARANTY (N720.8m) while the top

1.1%

-13.3%

-13.3%

8.5%

4.5%

17.5x

1.6x

2.9%

5.7%

17 Okomu Oil Palm PLC

80.00

0.0%

1.4%

5.0%

5.0%

39.3%

29.7%

9.0x

2.6x

3.8%

11.1%

traded

18 Total Nigeria PLC

196.00

0.0%

1.3%

-3.4%

-3.4%

27.0%

6.6%

8.4x

2.2x

8.7%

12.0%

19 11 PLC

178.00

0.0%

1.2%

-4.0%

-4.0%

38.0%

16.8%

5.9x

2.0x

4.6%

16.8%

6.6%

2.0%

8.1x

0.5x

5.7%

12.3%

2.4x

0.3x

stocks

by

volume

were

& D

(53.9m

units), STERLING (41.4m units) and UBA (41.3m units).

20 Flour Mills of Nigeria PLC

DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ŵŝdžĞĚ͕ ĂůďĞŝƚ ŶĞŐĂƟǀĞůLJ ƐŬĞǁĞĚ as only 2 out of 5 sectors under our coverage advanced. The Insurance index advanced the most by 0.9% as investors took ƉŽƐŝƟŽŶ ŝŶ E D (+5.0%) and h^dK / E (+0.82%) while the Industrial index advanced marginally by 0.1% as gains in

E' D

;нϭ͘ϭйͿ

ŽīƐĞƚ

ƐƵƐƚĂŝŶĞĚ

ůŽƐƐĞƐ

ŝŶ

BETAGLASS ;нϭϬ͘ϬйͿ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ĨƵƌƚŚĞƌ ĚĞĐůŝŶĞĚ ďLJ ϯ͘ϴй ĨŽůůŽǁŝŶŐ ƐƵƐƚĂŝŶĞĚ ƉƌŽĮƚ ƚĂŬŝŶŐ ĂĐƟǀŝƟĞƐ ŝŶ NIGERIAN BREWERIES (-9.7%), NESTLE (-3.5%)

17.55

-2.5%

0.9%

-24.0%

-20.9%

21 Oando PLC

4.70

-7.8%

1.1%

-6.0%

-2.1%

22 Fidelity Bank PLC

1.81

-4.7%

1.0%

-10.8%

-10.8%

11.6%

1.5%

2.3x

0.3x

6.1%

43.7%

23 Transnational Corp of Nigeria

1.19

-1.7%

0.9%

-9.8%

-5.6%

19.3%

4.3%

3.9x

0.7x

2.5%

25.8%

24 Dangote Sugar Refinery PLC

15.00

5.6%

0.9%

-1.6%

1.4%

32.6%

16.4%

8.1x

1.7x

7.3%

2.42

0.0%

0.9%

12.6%

-5.8%

-0.7%

25 Diamond Bank PLC 26 FCMB Group Plc

1.90

1.1%

0.6%

0.5%

5.6%

8.4%

1.2%

7.65

-0.6%

0.4%

-21.5%

-19.9%

0.4%

0.2%

2.39

-0.4%

0.6%

25.8%

25.8%

10.6%

1.1%

7.4x

0.6x

62.75

0.0%

0.4%

-2.0%

-2.0%

37.0%

24.8%

2.5x

29 Presco PLC

11.1%

47.0%

17.5%

12.0x

4.7x

-10.9%

84.6%

8.3%

17.1x

1.9x

32 Union Bank of Nigeria PLC

6.65

0.0%

0.4%

18.8%

18.8%

5.3%

1.0%

12.1x

0.7x

33 Julius Berger Nigeria PLC

27.50

0.0%

0.3%

36.8%

24.4%

31.5%

3.6%

4.3x

1.1x

0.2%

-19.0%

-20.3%

0.9x

1.5%

0.2%

7.3%

7.3%

66.2%

30.2%

12.9x

11.7x

7.4%

7.8%

36 Wema Bank PLC

0.77

10.0%

0.2%

22.2%

22.2%

6.6%

0.8%

8.9x

0.6x

3.9%

11.2%

37 Beta Glass PLC

5.4x

1.0x

2.2%

18.6%

1.1x

2.3%

-2.5%

11.0x

0.7x

2.8%

9.1%

10.4x

1.1x

2.9%

9.6%

14.7%

ĂŶŬŝŶŐ ŝŶĚĞdž ƐŚĞĚ ϭ͘ϴй ĂŶĚ ϭ͘ϭй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐƵƐƚĂŝŶĞĚ

14.9%

4.2%

39 Transcorp Hotels Plc

5.40

0.0%

0.1%

-11.5%

-9.2%

losses in K E K (-7.8%), &KZd (-9.9%), UBA (-2.6%) and ETI (-

40 AXA Mansard Insurance PLC

2.20

0.0%

0.1%

20.2%

20.2%

T ic k er

P ric e C hg %

T ic k er

Vo lum e

SOVR EN IN S

0.22

10.0%

FCM B

53.9

1.1%

WEM A B A N K

0.77

10.0%

ST ER LN B A N K

41.4

-0.4%

P ric e C hg %

-2.6%

IKEJ A H OT EL

2.26

9.7%

UB A

41.3

D A N GSUGA R

15.00

5.6%

F ID ELIT YB K

37.7

-4.7%

N EM

2.33

5.0%

Z EN IT H B A N K

32.0

-2.7% 0.0%

FCM B

declined.

D A N GC EM

/< :,Kd > (+9.7%) while the most underperforming stocks

3.5%

P ric e

yesterday͛s session as 10 stocks advanced against 28 stocks that

and

11.6%

T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s

2.0%).

(+10.0%)

23.1%

0.0%

21.1%

^Ks Z/E/E

8.3% 7.4%

0.0%

36.4%

(+10.0%),

8.3% 5.8%

9.80

-14.6%

t D

13.6%

37.40

35 Chemical and Allied Products P

31.4%

were

5.0%

11.1% -13.1%

-14.6%

stocks

40.4%

0.4%

0.2%

performing

3.2%

0.3%

0.1%

top

0.8x

0.0%

-2.2%

The

39.3% -30.7%

-9.9%

-10.0%

ĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϰdž ĨƌŽŵ Ϭ͘ϴdž ƌĞĐŽƌĚĞĚ ŝŶ

7.4% 8.4%

20.00

9.00

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ

0.2x

24.95

34 PZ Cussons Nigeria PLC

12.3% -29.0%

0.3x

30 NASCON Allied Industries PLC

58.35

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ZĞŵĂŝŶƐ ^ŽŌ

2.5x

31 Forte Oil PLC

38 Dangote Flour Mills Plc

and UNILEVER (-ϴ͘ϱйͿ͘ >ŝŬĞǁŝƐĞ͕ ƚŚĞ Kŝů ĂŶĚ 'ĂƐ ŝŶĚĞdž ĂŶĚ ƚŚĞ

0.3x

27 UAC of Nigeria PLC 28 Sterling Bank PLC

41.8%

1.90

1.1%

A C C ESS

28.3

193.00

1.0%

GUA R A N T Y

19.9

0.0%

C UST OD IA N

6.15

0.8%

CHA M S

18.4

-4.8%

A F R IP R UD

3.83

0.8%

FB NH

15.3

-1.3%

46.25

0.4%

NB

13.6

-9.7%

ST A N B IC

were BETAGLASS (-10.0%), &KZd (-9.9%) and NIGERIAN

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

BREWERIES (-ϵ͘ϳйͿ͘ tŚŝůĞ ǁĞ ĞdžƉĞĐƚ ƚŚŝƐ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ T ic k er

Value

N EST LE

905.2

-3.4%

-9.9%

NB

776.5

-9.7%

T ic k er

P ric e

P ric e C hg %

B ET A GLA S

58.35

-10.0%

do not rule out the possibility of an upturn in the performance of

FO

24.95

ƚŚĞ ĞŶĐŚŵĂƌŬ ŝŶĚĞdž ĂƐ ŝŶǀĞƐƚŽƌƐ ĐŽŶƟŶƵĞ ƚŽ ƚĂŬĞ ƉŽƐŝƟŽŶ ŝŶ

NB

ƌĞĐŽƌĚĞĚ ƚŚƵƐ ĨĂƌ ƚŽ ƉĞƌƐŝƐƚ ŝŶ ƐƵďƐĞƋƵĞŶƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ͕ ǁĞ

ĨƵŶĚĂŵĞŶƚĂůůLJ ĂƩƌĂĐƟǀĞ ƐƚŽĐŬƐ͘

56.90

-9.7%

GUA R A N T Y

720.8

0.0%

VIT A F OA M

3.57

-9.6%

Z EN IT H B A N K

694.2

-2.7%

LIVEST OC K

0.57

-9.5%

UB A

316.9

-2.6%

C H A M P ION

1.32

-9.0%

ST A N B IC

194.9

0.4%

M EYER

0.54

-8.5%

A C C ESS

183.5

0.0%

35.70

-8.5%

FB NH

122.1

-1.3%

OA N D O

4.70

-7.8%

D A N GC EM

105.6

1.0%

J A IZ B A N K

0.49

-5.8%

FCM B

100.0

1.1%

UN ILEVER

Afrinvest West Africa Limited

P ric e C hg %

Brokerage

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com Oluwarotimi Ashimi | oashimi@afrinvest.com

Jolomi Odonghanro | jodonghanro@afrinvest.com

41

WEDNESDAY APRIL 3, 2019 ˾ T H I S D AY

INTERNATIONAL

Khashoggi’s Children Receive Houses, Monthly Payments as Compensation in Saudi Arabia The children of slain Saudi journalist, Jamal Khashoggi, have received million-dollar houses in the kingdom and monthly five-figure payments as compensation for the killing of their father, according to current and former Saudi

officials as well as people close to the family.

According to The Washington Post, Khashoggi’s two sons and two daughters may also receive much larger payouts — possibly tens of millions of dollars apiece — as part of

EU Worried over Italy’s Economy Italy’s recession-hit economy is a concern and its government should do more to revive it, European Commission President Jean-Claude Juncker said on Tuesday.

“I’m a bit worried to see that the Italian economy keeps on getting worse.

“I would like the Italian authorities to make additional efforts to keep up Italy’s economic growth,’’ Juncker said.

Juncker said Italy had “limited” room for expansionary budget policies given its “high public debt,” but “we remain in contact to see how we can proceed on the issue.

“The head of the EU executive, which among other things monitors budget discipline in the bloc, was

making statements to the press after a meeting in Rome with Italian Prime Minister Giuseppe Conte,’’ he added.

Italy, the eurozone’s thirdlargest economy, is the only EU country in a recession.

On Monday, the Organisation for Economic Cooperation and Development said Italy’s economy would shrink by 0.2 per cent in 2019.

A stalling economy makes it harder for Italy’s government to sustain high levels of public debt, standing at over 130 per cent of gross domestic product.

Rome’s populist rulers have bet on higher welfare spending, in defiance of EU budget discipline constraints, to revive the economy.

The strategy has attracted international criticism.

Second Woman Says Ex-VP Biden Touched Her Inappropriately A Connecticut woman said Joe Biden touched her inappropriately and rubbed noses with her at a 2009 political fundraiser.

Amy Lappos, 43, became the second person in three days to accuse the former vice president of unwanted physical contact as he considered a White House run.

“It wasn’t sexual, but he did grab me by the head,’’ Lappos told the Hartford Courant of her encounter with Biden at a Greenwich, Connecticut, event.

“He put his hand around my neck and pulled me in to rub noses with me.

“When he was pulling me in, I thought he was going to kiss me on the mouth,’’ she added.

Lappos posted about the alleged incident in a Connecticut Women in Politics Facebook group on Sunday in response to an account by former Nevada state legislator, Lucy Flores, who recently accused Biden of kissing her on the back of the head at a 2014 event.

The allegations could endanger a possible 2020 presidential run by Biden, who was vice president under President Barack Obama at the time of both alleged instances.

He has been expected to announce a Democratic White House bid in the coming weeks and has been leading the Democratic presidential field in opinion polls.

Asked about the

Connecticut allegation, a Biden spokesman pointed to Biden’s statement on Sunday, when he said he did not believe he ever acted inappropriately during his many years in public life and on the campaign trail.

“I have offered countless handshakes, hugs, expressions of affection, support and comfort and not once, never, did I believe I acted inappropriately.

“If it is suggested I did so, I will listen respectfully.

“But it was never my intention,’’ Biden said in the statement.

Biden has long been known for a warm and intimate campaign style.

However, his propensity for hugging and physical touching has come under new scrutiny in the #MeToo era, as awareness about sexual assault and harassment has grown.

Lappos, a former aide to U.S. Representative Jim Himes, told the Courant she felt uncomfortable when Biden approached her at a fundraiser for Himes.

She said that she was in the kitchen with three or four other volunteers when Biden moved toward her.

“I never filed a complaint, to be honest, because he was the vice president.

“I was a nobody and there’s absolutely a line of decency.

“There’s a line of respect.

Crossing that line is not grandfatherly.

“blood money” negotiations that are expected to ensue when the trials of Khashoggi’s accused killers are completed in the coming months, according to the officials and others who spoke on the condition of anonymity to discuss sensitive talks.

The previously undisclosed payments are part of an effort

by Saudi Arabia to reach a long-term arrangement with Khashoggi family members, aimed in part at ensuring that they continue to show restraint

in their public statements about the killing of their father by Saudi operatives in Istanbul six months ago, the officials said.

The Khashoggi siblings have refrained from any harsh criticism of the kingdom, even as their father’s death provoked global outrage and widespread condemnation of the heir to the Saudi throne, Crown Prince Mohammed bin Salman.

The delivery of homes and monthly payments of $10,000 or more to each sibling were approved late last year by

King Salman as part of what one former official described as an acknowledgment that “a big injustice has been done” and an attempt “to make a wrong right.”

On Oct. 2, 2018, Saudi agents killed Washington Post columnist Jamal Khashoggi inside the Saudi Consulate in Istanbul.

But the royal family is also relying on its wealth to help contain the ongoing fallout from the killing and dismemberment of the prominent Saudi journalist and Washington Post contributing

columnist who was targeted for articles that were often critical of the government.

A Saudi official described the payments as consistent with the country’s long-standing practice of providing financial support to victims of violent crime or even natural disasters and rejected the suggestion that the Khashoggi family would be obligated to remain silent. “Such support is part of our custom and culture. It is not attached to anything else,” the official said.

L-R: Senator Ben Murray-Bruce; British High Commissioner to Nigeria, Catriona Laing; and vice presidential candidate of the Peoples Democratic Party, Mr. Peter Obi, after their meeting with the envoy in Abuja...weekend.

Fifth Stabbing in Four Days in North London District Amid Knife Crime Surge London Police on Tuesday said they were investigating the fifth stabbing in four days in the same north London district as authorities try to contain a surge in knife crime in Britain.

Four victims were stabbed from behind over the weekend in the Edmonton area of northwest London, and detectives said they believed it was not linked to terrorism and a single suspect was involved.

Two men were arrested on suspicion of grievous bodily

harm and remain in custody.

Police, in the fifth attack, said a man in his 30s was found with stab injuries and was in a life-threatening condition in hospital.

A man in his 30s was later arrested on suspicion of causing grievous bodily harm and detectives said they were working to see if the incident was linked to the weekend’s stabbings.

“I am aware that events from the weekend have caused a

huge amount of worry and concern among the community and this incident will cause further alarm. `While at this stage the incident has not yet been formally linked, the location and manner of this attack will be of concern to the public,’’ Detective Superintendent Luke Marks said.

On Monday, Prime Minister Theresa May held a special meeting to discuss tackling Britain’s soaring knife crime.

Official statistics showed in March that there were 285 fatal stabbings in England and Wales in 2018, the highest level since records began over 70 years ago.

Police say the surge in knife crime in a country where guns are hard to obtain has been driven by several factors, including rivalries between drug gangs, cuts to youth services and provocations on social media.

Hatred, Revenge are Not Legitimate Ways to Ensure Quick, Effective Justice, Says Pope Pope Francis, Head of the Catholic Church and Sovereign of the Vatican City State says hatred and revenge are not legitimate ways of ensuring speedy and effective justice.

The Pope said this at the celebration of Mass at the Moulay Abdallah Stadium to round off his two-day visit to Morocco.The News Agency of Nigeria ( NAN) reports that the Mass was attended by government officials, students, nationals from different countries, particularly from Sub-Saharan Africa, migrants, clerymen and worshippers among others.According to

him, hatred, division and revenge succeed only in killing our people’s soul, poisoning our children’s hopes, destroying and sweeping away everything we cherish.

“Jesus invites us to have the heart of Our Father. Only then we can acknowledge once more that we are brothers and sisters “It is only against this backdrop that we can transcend our shortsighted and divisive ways of thinking and see things in a way that does not downplay our differences in the name of a forced unity or quiet

marginalisation. ‘.

“If only we can raise our eyes to heaven each day and say Our Father, we will be able to be part of a process that can make us see things clearly and no longer see ourselves as enemies but brothers and sisters. ” This according to him is the greatest legacy and wealth of a Christian.

“Instead of measuring or classifying ourselves according to different moral, social, ethnic or religious criteria, we should know that another criterion exists.

One that cannot take away or destroy because it is pure

gift.”

Pope Francis commended the Christians in Morocco for their efforts in making their communities oasis of mercy.

He also commended the government and people of Morocco for according him a warm reception and prayed God to continue to bless Morocco.

NAN reports that Pope Francis met migrants and Muslim leaders, and held a Mass for the country’s small Roman Catholic community.

He thanked local clerics and religious leaders for helping Muslims, the poor and migrants.

5 ) * 4 % ": t WEDNESDAY, APRIL 3, 2019

42

UTILIZATION OF FOREIGN EXCHANGE AS AT 29TH OF MARCH 2019 S/N

CUSTOMERS

S/N

CUSTOMERS

S/N

CUSTOMERS

1

ALUBABARI D. NBETE

AMOUNT (US$)

1,000.00 PTA

PURPOSE

359.00 25-Mar-19

RATE DATE

41

ACHARA C. NDIDIA

2,000.00 PTA

359.00 26-Mar-19

81

OKONKWO A. MIRIAN

2

ABBA SULEIMAN

4,000.00 PTA

359.00 25-Mar-19

42

OKAFOR GODWIN EZE

2,200.00 PTA

359.00 26-Mar-19

82

ONWU U. IJEOMA

3

AJEMIGBITSE A. ADEBAMBO

4,000.00 PTA

359.00 25-Mar-19

43

BLESSING O. JEREMIAH

1,000.00 PTA

359.00 26-Mar-19

83

ONWU E. ONYEDI

3,951.56 PTA

359.00 28-Mar-19

4

DAUDA I. JALO

4,000.00 PTA

359.00 25-Mar-19

44

OGBUJI N. EKEO

3,930.00 PTA

359.00 26-Mar-19

84

OPEJIN K. ADEKUNLE

3,958.00 PTA

359.00 28-Mar-19

5

EDEKOBI C. TONY

4,000.00 PTA

359.00 25-Mar-19

45

HON CHARLES E IDAHOSA

2,620.00 PTA

359.00 26-Mar-19

85

OKONKWO A. MIRIAN

2,836.68 PTA

359.00 28-Mar-19

6

IJAGBEMI F. SAMUEL

4,000.00 PTA

359.00 25-Mar-19

46

JAIYESIMI OLUKEMI ATOKE

7

NWACHUKWU CHIAGOZIEM

700.00 PTA

359.00 25-Mar-19

47

CHELLARAMS PLC

8

SHOKUNBI KAYODE

3,000.00 PTA

359.00 25-Mar-19

48

CWAY FOOD & BEVERAGES

9

ALBERT O. MATHEW

3,000.00 PTA

359.00 25-Mar-19

49

AIRTEL NETWORKS LIMITED

10

SOBOWALE B. KOLAWOLE

3,000.00 PTA

359.00 25-Mar-19

50

FLOUR MILLS OF NIG PLC

11

OMOTUBORA A. OLUFUNMILOLA

500.00 PTA

359.00 25-Mar-19

51

CBN

12

IMO THOMAS EZE

2,000.00 PTA

359.00 25-Mar-19

52

CBN

13

TORRU TAYO ANGEL

2,600.00 PERSONAL

359.00 25-Mar-19

53

AMTRONIC INVESTMENTS LTD

14

SEMIYU O. FATAI

359.00 25-Mar-19

54

AFRICAN WIRE & ALLIED IND. LTD

15

KUFORIJI O. FOLASHADE

1,297.80 PTA

359.00 25-Mar-19

55

GLOBAL ORGANICS LTD

16

AFUWAPE TOPE OLUSEGUN

1,297.80 PTA

359.00 25-Mar-19

56

UNIKEM INDUSTRIES LIMITED

17

OMOTUBORA A. OLUFUNMILOLA

609.84 PTA

359.00 25-Mar-19

57

MANUCHAR TRADING HOUSE INT’L NIG.

18

TORRU T. ANGEL

1,308.91 PERSONAL

359.00 25-Mar-19

58

ZENITH BANK

19

NWAFOR C. OKEZIE

2,481.22 PTA

359.00 25-Mar-19

59

CBN

122,311.51 IMTO TRANSFERRED TO CBN

20

NJOKU CHRISTOPHER

3,923.98 PTA

359.00 25-Mar-19

60

CBN

49,683.17 IMTO TRANSFERRED TO CBN

21

TOLUJU S. EYITAYO

3,926.74 PTA

359.00 25-Mar-19

61

AYOTUNDE V. ABAYOMI

5,000.00 BTA

22

UMEGE K. CHIWELITEM

132.86 PTA

359.00 25-Mar-19

62

ALLI OLATUNJI KOLAWOLE

23

EMASOGA O. HENRY

359.00 25-Mar-19

63

24

CBN

80,067.50 IMTO TRANSFERRED TO CBN

357.00 25-Mar-19

64

25

CBN

26,803.37 IMTO TRANSFERRED TO CBN

357.00 25-Mar-19

65

BOROFFICE B. OLUSINMIBO

26

PLUTUS INDUSTRIES LTD

50,000.00 INDUSTRIAL RAW MATERIAL

360.70 25-Mar-19

66

OGOLO C. SANDRA

27

ASHADEEP OVERSEA LTD

48,400.00 COLOUR MASTER BATCH

360.70 25-Mar-19

67

OLUFOLABI TINUADE O

4,000.00 PTA

28

OLAM NIG LTD

29

DEEKAY AND SONS NIG LTD

30

KEYSTONE -INTERBANK

31

AKINBOYO P LAWRENCE

2,302.50 SCHOOL FEES

32

ODIEDI EMMANUEL

33 34

400.00 PTA

1,000.00 SCHOOL FEES

AMOUNT (US$)

PURPOSE

RATE DATE

3,537.00 PTA

AMOUNT (US$)

PURPOSE

RATE DATE

340.30 PTA

359.00 28-Mar-19

3,951.56 PTA

359.00 28-Mar-19

359.00 26-Mar-19

86

EZENEKWE J. CHIDINMA

360.70 26-Mar-19

87

OPARA PRINCEWILL C

2,100.00 UPKEEP

360.70 26-Mar-19

88

WADAK ISAAC GOFUB

6,533.51 SCHOOL FEES

360.70 26-Mar-19

89

CBN

86,409.69 IMTO TRANSFERRED TO CBN

357.00 28-Mar-19

919,000.00 RED WINTER WHEAT

360.80 26-Mar-19

90

CBN

23,802.58 IMTO TRANSFERRED TO CBN

357.00 28-Mar-19

122,311.51 IMTO TRANSFERRED TO CBN

357.00 26-Mar-19

91

HAIR PRESTIGE MANUFACTURING NIG.

79,500.00 ARTIFICIAL FILAMENT TOW

360.70 28-Mar-19

49,683.17 IMTO TRANSFERRED TO CBN

357.00 26-Mar-19

92

PLUTUS INDUSTRIES LTD

44,427.06 COLD & HOT WATER DISPENSER

307.05 27-Mar-19

93

JAYKAY CARPET

360.40 27-Mar-19

94

EMIRATES

49,633.08 VETERINARY FORMULATIONS

360.70 27-Mar-19

95

JUST FOOD

62,000.00 CRUDE DENATURED ETHYL ALCOHOL

361.50 27-Mar-19

96

CSA INTERIORS COMPANY

360.70 27-Mar-19

97

WEMA BANK

300,000.00 INTERBANK

360.25 28-Mar-19

360.50 27-Mar-19

98

UNITY BANK

444,227.00 INTERBANK

360.25 28-Mar-19

357.00 27-Mar-19

99

OMOTOSHO ANTHONY O

357.00 27-Mar-19

100

MUHAMMAD T. HAUWA

4,000.00 PTA

359.00 29-Mar-19

359.00 27-Mar-19

101

AJOSE TEMITOPE

4,000.00 PTA

359.00 29-Mar-19

4,000.00 PTA

359.00 27-Mar-19

102

AGBOLA A. OLANIYI

3,958.00 PTA

359.00 29-Mar-19

ADEOGUN T. OLUGBENGA

3,000.00 PTA

359.00 27-Mar-19

103

NWUDE JANE KELECHI

661.35 PTA

359.00 29-Mar-19

PHILLIPS ODSON IDOGBE

3,500.00 PTA

359.00 27-Mar-19

104

SIMPLICE B. ERNEST

3,968.11 PTA

359.00 29-Mar-19

4,000.00 PTA

359.00 27-Mar-19

105

ADESANYA ADENIYI O

3,994.56 PTA

359.00 29-Mar-19

4,000.00 PTA

359.00 27-Mar-19

106

IGBOKWE JOE

4,500.00 SCHOOL FEES

359.00 29-Mar-19

359.00 27-Mar-19

107

IGBOKWE JOE

4,500.00 SCHOOL FEES

359.00 29-Mar-19

NSOR M. EJIK-AKWA

11,131.94 SCHOOL FEES

359.00 29-Mar-19

35.04 INSTANT SKIMMED MILK POWDER 218,880.00 INSTANT FAT FILLED MILK POWDER 1,830.19 LOAN REPAYMENT

5,000.00 INDUSTRIAL MACHINERY

200,000.00 SODIUM SULPHATE 2,000,000.00 INTERBANK

824.93 PTA

359.00 28-Mar-19 359.00 28-Mar-19 359.00 28-Mar-19

8,450.00 INDUSTRIAL RAW MATERIAL

360.70 28-Mar-19

106,606.00 INDUSTRIAL RAW MATERIAL

360.70 28-Mar-19

43,000.00 TICKET REMITTANCE

360.73 28-Mar-19

80,776.51 COMELLE CM ICE CREAM POWDER

360.70 28-Mar-19

41,195.00 STRONG STEEK SECURITY DOORS

360.90 28-Mar-19

4,000.00 PTA

359.00 29-Mar-19

360.70 25-Mar-19

68

ARE AYODEJI ADEOLA

3,900.00 PTA

359.00 27-Mar-19

108

30,758.10 REFRIGERATOR

360.60 25-Mar-19

69

OLALEYE BISOLA ESTHER

1,000.00 PTA

359.00 27-Mar-19

109

AMTRONIC INVESTMENTS LTD

22,520.99 ELECTRIC WATER KETTLE

307.05 29-Mar-19

97,563.84 INTERBANK

360.25 25-Mar-19

70

ADEMOYE R. BAMIDELE

3,895.49 PTA

359.00 27-Mar-19

110

CBN

79,356.43 IMTO TRANSFERRED TO CBN

357.00 29-Mar-19

359.00 26-Mar-19

71

ALLI EGO MAUREEN

3,926.00 PTA

359.00 27-Mar-19

111

CBN

21,944.31 IMTO TRANSFERRED TO CBN

357.00 29-Mar-19

9,045.00 SCHOOL FEES

359.00 26-Mar-19

72

FAGBEMI O. GRACE

3,939.61 PTA

359.00 27-Mar-19

112

MANUCHAR TRADING HOUSE INT’L NIG

75,000.00 SODIUM SULPHATE

360.80 29-Mar-19

ADEKUNLE M. FADEREMI

1,317.20 SCHOOL FEES

359.00 26-Mar-19

73

ADEGOKE A. ESE

3,973.79 PTA

359.00 27-Mar-19

113

ROOSKEY ELECTRICAL

60,019.60 AC MOTOR SINGLE PHASE

360.70 29-Mar-19

ILOGU C. GORDON

2,000.00 PTA

359.00 26-Mar-19

74

NWABRO I. JANE

4,357.63 SCHOOL FEES

359.00 27-Mar-19

114

FLOUR MILLS OF NIG PLC

35

SOTAYO I. OLANREWAJU

4,000.00 PTA

359.00 26-Mar-19

75

HASSAN OLATUNJI A

1,151.28 UPKEEP

359.00 27-Mar-19

115

WEMA BANK

531,159.52 INTERBANK

360.25 29-Mar-19

36

MUSASHIR I. ADEOLA

1,000.00 PTA

359.00 26-Mar-19

76

ADESHINA S. ANTHONY

7,395.50 SCHOOL FEES

359.00 27-Mar-19

116

ZENITH BANK

2,401,809.56 INTERBANK

360.25 29-Mar-19

37

OLUNWA O. GLADYS

300.00 PTA

359.00 26-Mar-19

77

EGBE F EGBOR

3,245.00 SCHOOL FEES

359.00 27-Mar-19

117

STANBIC IBTC BANK

2,911,200.00 INTERBANK

360.25 29-Mar-19

38

OSALONI O. PAYNE

4,000.00 PTA

359.00 26-Mar-19

78

ASIEGBU O. CATHERNE

1,000.00 PTA

359.00 28-Mar-19

118

WEMA BANK

150,000.00 INTERBANK

360.25 29-Mar-19

39

OBOREHI J. SNAPPS

4,000.00 PTA

359.00 26-Mar-19

79

UKIM COMFORT INI

3,000.00 PTA

359.00 28-Mar-19

40

OBASI C. IJEOMA

2,500.00 PTA

359.00 26-Mar-19

80

UMARU SHEHU

4,000.00 PTA

359.00 28-Mar-19

110,000.00 LOAN REPAYMENT

1,500,000.00 RED WINTER WHEAT

360.40 29-Mar-19

SOURCE OF FOREIGN EXCHANGE AS AT 29TH OF MARCH 2019 S/N

SOURCE

S/N

SOURCE

S/N

SOURCE

S/N

SOURCE

1

AUTONOMOUS

192.84

359.00 25-Mar-19

107

AUTONOMOUS

185.68

359.00 26-Mar-19

213

AUTONOMOUS

7,500.00

359.00 27-Mar-19

319

AUTONOMOUS

393.05

359.00 28-Mar-19

2

AUTONOMOUS

1,033.41

359.00 25-Mar-19

108

AUTONOMOUS

131.57

359.00 26-Mar-19

214

AUTONOMOUS

500.00

359.00 27-Mar-19

320

AUTONOMOUS

224.60

359.00 28-Mar-19

3

AUTONOMOUS

4,884.00

359.00 25-Mar-19

109

AUTONOMOUS

131.04

359.00 26-Mar-19

215

AUTONOMOUS

100.00

359.00 27-Mar-19

321

AUTONOMOUS

196.86

359.00 28-Mar-19

4

AUTONOMOUS

2,667.00

359.00 25-Mar-19

110

AUTONOMOUS

175.24

359.00 26-Mar-19

216

AUTONOMOUS

3,575.00

359.00 27-Mar-19

322

AUTONOMOUS

479.02

359.00 28-Mar-19

5

AUTONOMOUS

340.00

359.00 25-Mar-19

111

AUTONOMOUS

196.92

359.00 26-Mar-19

217

AUTONOMOUS

1,485.00

359.00 27-Mar-19

323

AUTONOMOUS

118.78

6

AUTONOMOUS

95.79

359.00 25-Mar-19

112

AUTONOMOUS

2,277.44

359.00 26-Mar-19

218

AUTONOMOUS

450.00

359.00 27-Mar-19

324

AUTONOMOUS

328.13

359.00 28-Mar-19

7

AUTONOMOUS

150.00

359.00 25-Mar-19

113

AUTONOMOUS

277.63

359.00 26-Mar-19

219

AUTONOMOUS

955.00

359.00 27-Mar-19

325

AUTONOMOUS

4,000.00

359.00 28-Mar-19

8

AUTONOMOUS

295.00

359.00 25-Mar-19

114

AUTONOMOUS

1,783.61

359.00 26-Mar-19

220

AUTONOMOUS

312.08

359.00 27-Mar-19

326

AUTONOMOUS

4,700.00

359.00 28-Mar-19

9

AUTONOMOUS

1,524.00

359.00 25-Mar-19

115

AUTONOMOUS

359.01

359.00 26-Mar-19

221

AUTONOMOUS

359.00 27-Mar-19

327

AUTONOMOUS

2,300.00

359.00 28-Mar-19

10

AUTONOMOUS

9.45

359.00 25-Mar-19

116

AUTONOMOUS

675.91

359.00 26-Mar-19

222

AUTONOMOUS

280.00

359.00 27-Mar-19

328

AUTONOMOUS

9,700.00

359.00 28-Mar-19

11

AUTONOMOUS

1,150.00

359.00 25-Mar-19

117

AUTONOMOUS

110.55

359.00 26-Mar-19

223

AUTONOMOUS

2,000.00

359.00 27-Mar-19

329

AUTONOMOUS

1,000.00

359.00 28-Mar-19

12

AUTONOMOUS

490.00

359.00 25-Mar-19

118

AUTONOMOUS

100.07

359.00 26-Mar-19

224

AUTONOMOUS

972.00

359.00 27-Mar-19

330

AUTONOMOUS

372.14

13

AUTONOMOUS

1,522.52

359.00 25-Mar-19

119

AUTONOMOUS

540.82

359.00 26-Mar-19

225

AUTONOMOUS

2,852.98

359.00 27-Mar-19

331

AUTONOMOUS

200.00

359.00 28-Mar-19

14

AUTONOMOUS

280.00

359.00 25-Mar-19

120

AUTONOMOUS

535.13

359.00 26-Mar-19

226

AUTONOMOUS

85.21

359.00 27-Mar-19

332

AUTONOMOUS

2,000.00

359.00 28-Mar-19

15

AUTONOMOUS

8,500.00

359.00 25-Mar-19

121

AUTONOMOUS

441.50

359.00 26-Mar-19

227

AUTONOMOUS

1,121.70

359.00 27-Mar-19

333

IMTO

16

AUTONOMOUS

690.00

359.00 25-Mar-19

122

AUTONOMOUS

770.00

359.00 26-Mar-19

228

AUTONOMOUS

1,829.50

359.00 27-Mar-19

334

17

AUTONOMOUS

855.00

359.00 25-Mar-19

123

AUTONOMOUS

85.00

359.00 26-Mar-19

229

AUTONOMOUS

368.67

359.00 27-Mar-19

335

18

AUTONOMOUS

867.44

359.00 25-Mar-19

124

AUTONOMOUS

107.13

359.00 26-Mar-19

230

AUTONOMOUS

1,571.35

359.00 27-Mar-19

336

IMTO

19

AUTONOMOUS

335.00

359.00 25-Mar-19

125

AUTONOMOUS

3,000.00

359.00 26-Mar-19

231

AUTONOMOUS

1,375.39

359.00 27-Mar-19

337

AUTONOMOUS

20

AUTONOMOUS

190.00

359.00 25-Mar-19

126

AUTONOMOUS

180.15

359.00 26-Mar-19

232

AUTONOMOUS

4,489.58

359.00 27-Mar-19

338

AUTONOMOUS

8,000.00

359.00 28-Mar-19

21

AUTONOMOUS

490.00

359.00 25-Mar-19

127

AUTONOMOUS

474.92

359.00 26-Mar-19

233

AUTONOMOUS

319.52

359.00 27-Mar-19

339

AUTONOMOUS

10,000.00

359.00 28-Mar-19

22

AUTONOMOUS

500.00

359.00 25-Mar-19

128

AUTONOMOUS

438.35

359.00 26-Mar-19

234

AUTONOMOUS

1,717.27

359.00 27-Mar-19

340

AUTONOMOUS

1,000,000.00

359.60 28-Mar-19

23

AUTONOMOUS

500.00

359.00 25-Mar-19

129

AUTONOMOUS

1,043.86

359.00 26-Mar-19

235

AUTONOMOUS

617.32

359.00 27-Mar-19

341

AUTONOMOUS

1,000,000.00

359.60 28-Mar-19

24

AUTONOMOUS

142.50

359.00 25-Mar-19

130

AUTONOMOUS

84.64

359.00 26-Mar-19

236

AUTONOMOUS

7,071.09

359.00 27-Mar-19

342

AUTONOMOUS

1,000,000.00

359.60 28-Mar-19

25

AUTONOMOUS

100.00

359.00 25-Mar-19

131

AUTONOMOUS

5,608.50

359.00 26-Mar-19

237

AUTONOMOUS

33.67

359.00 27-Mar-19

343

AUTONOMOUS

8,000.00

359.00 29-Mar-19

26

AUTONOMOUS

460.00

359.00 25-Mar-19

132

AUTONOMOUS

183.96

359.00 26-Mar-19

238

AUTONOMOUS

56.12

359.00 27-Mar-19

344

AUTONOMOUS

1,500.00

359.00 29-Mar-19

27

AUTONOMOUS

4,830.00

359.00 25-Mar-19

133

AUTONOMOUS

49.39

359.00 26-Mar-19

239

AUTONOMOUS

877.71

359.00 27-Mar-19

345

AUTONOMOUS

990.00

359.00 29-Mar-19

28

AUTONOMOUS

9,244.00

359.00 25-Mar-19

134

AUTONOMOUS

120.17

359.00 26-Mar-19

240

AUTONOMOUS

606.09

359.00 27-Mar-19

346

AUTONOMOUS

590.00

359.00 29-Mar-19

29

AUTONOMOUS

101.56

359.00 25-Mar-19

135

AUTONOMOUS

179.47

359.00 26-Mar-19

241

AUTONOMOUS

208.20

359.00 27-Mar-19

347

AUTONOMOUS

180.00

359.00 29-Mar-19

30

AUTONOMOUS

225.70

359.00 25-Mar-19

136

AUTONOMOUS

39.26

359.00 26-Mar-19

242

AUTONOMOUS

2,323.36

359.00 27-Mar-19

348

AUTONOMOUS

100.00

359.00 29-Mar-19

31

AUTONOMOUS

214.41

359.00 25-Mar-19

137

AUTONOMOUS

560.85

359.00 26-Mar-19

243

AUTONOMOUS

448.96

359.00 27-Mar-19

349

AUTONOMOUS

48.00

359.00 29-Mar-19

32

AUTONOMOUS

236.98

359.00 25-Mar-19

138

AUTONOMOUS

238.96

359.00 26-Mar-19

244

AUTONOMOUS

13,047.85

359.00 27-Mar-19

350

AUTONOMOUS

42.00

359.00 29-Mar-19

33

AUTONOMOUS

564.25

359.00 25-Mar-19

139

AUTONOMOUS

100.95

359.00 26-Mar-19

245

AUTONOMOUS

104.99

359.00 27-Mar-19

351

AUTONOMOUS

31.13

359.00 29-Mar-19

34

AUTONOMOUS

410.77

359.00 25-Mar-19

140

AUTONOMOUS

130.55

359.00 26-Mar-19

246

AUTONOMOUS

262.48

359.00 27-Mar-19

352

AUTONOMOUS

47.00

35

AUTONOMOUS

56.42

359.00 25-Mar-19

141

AUTONOMOUS

271.83

359.00 26-Mar-19

247

AUTONOMOUS

1,312.40

359.00 27-Mar-19

353

AUTONOMOUS

53.00

359.00 29-Mar-19

36

AUTONOMOUS

169.27

359.00 25-Mar-19

142

AUTONOMOUS

24,188.23

359.00 26-Mar-19

248

AUTONOMOUS

1,968.59

359.00 27-Mar-19

354

AUTONOMOUS

126.22

359.00 29-Mar-19

37

AUTONOMOUS

420.10

359.00 25-Mar-19

143

AUTONOMOUS

4,387.19

359.00 26-Mar-19

249

AUTONOMOUS

13,068.18

359.00 27-Mar-19

355

AUTONOMOUS

204.00

359.00 29-Mar-19

38

AUTONOMOUS

1,228.79

359.00 25-Mar-19

144

AUTONOMOUS

733.99

359.00 26-Mar-19

250

AUTONOMOUS

393.56 27-Mar-19

356

AUTONOMOUS

222.80

359.00 29-Mar-19

39

AUTONOMOUS

1,924.58

359.00 25-Mar-19

145

AUTONOMOUS

5,000.00

359.00 26-Mar-19

251

AUTONOMOUS

548.13

393.56 27-Mar-19

357

AUTONOMOUS

359.03

40

AUTONOMOUS

12,793.78

359.00 25-Mar-19

146

AUTONOMOUS

500.00

357.00 26-Mar-19

252

AUTONOMOUS

1,600.00

359.00 27-Mar-19

358

AUTONOMOUS

490.00

359.00 29-Mar-19

41

AUTONOMOUS

456.92

359.00 25-Mar-19

147

AUTONOMOUS

300.00

359.00 26-Mar-19

253

AUTONOMOUS

8,000.00

359.00 27-Mar-19

359

AUTONOMOUS

1,803.37

359.00 29-Mar-19

42

IMTO

105,365.75

355.00 25-Mar-19

148

AUTONOMOUS

1,000.00

359.00 26-Mar-19

254

AUTONOMOUS

1,000.00

359.00 27-Mar-19

360

AUTONOMOUS

1,075.00

359.00 29-Mar-19

43

IMTO

1,390.92

355.00 25-Mar-19

149

AUTONOMOUS

200.00

359.00 26-Mar-19

255

AUTONOMOUS

1,000.00

359.00 27-Mar-19

361

AUTONOMOUS

124.00

359.00 29-Mar-19

44

IMTO

35,242.02

355.00 25-Mar-19

150

AUTONOMOUS

23,753.81

359.00 26-Mar-19

256

AUTONOMOUS

4,900.00

359.00 27-Mar-19

362

AUTONOMOUS

100.00

359.00 29-Mar-19

45

IMTO

495.81

354.93 25-Mar-19

151

AUTONOMOUS

100,000.00

359.00 26-Mar-19

257

AUTONOMOUS

50.00

359.00 27-Mar-19

363

AUTONOMOUS

85.00

359.00 29-Mar-19

46

AUTONOMOUS

3,000.00

359.00 25-Mar-19

152

AUTONOMOUS

300,260.50

359.00 26-Mar-19

258

AUTONOMOUS

1,590.00

359.00 27-Mar-19

364

AUTONOMOUS

490.00

359.00 29-Mar-19

47

AUTONOMOUS

200.00

359.00 25-Mar-19

153

AUTONOMOUS

231,081.23

359.00 26-Mar-19

259

AUTONOMOUS

700.00

359.00 27-Mar-19

365

AUTONOMOUS

490.00

359.00 29-Mar-19

48

AUTONOMOUS

2,000.00

359.00 25-Mar-19

154

AUTONOMOUS

106,410.70

359.00 26-Mar-19

260

AUTONOMOUS

600.00

359.00 27-Mar-19

366

AUTONOMOUS

3,958.61

359.00 29-Mar-19

49

AUTONOMOUS

1,000.00

359.00 25-Mar-19

155

AUTONOMOUS

7,388.30

359.00 26-Mar-19

261

AUTONOMOUS

1,550.00

359.00 27-Mar-19

367

AUTONOMOUS

14,595.00

359.00 29-Mar-19

50

AUTONOMOUS

500.00

359.00 25-Mar-19

156

AUTONOMOUS

5,627.58

359.00 26-Mar-19

262

AUTONOMOUS

96.39

357.00 27-Mar-19

368

AUTONOMOUS

5,200.00

359.00 29-Mar-19

51

AUTONOMOUS

3,000.00

359.00 25-Mar-19

157

IMTO

104,068.19

355.00 26-Mar-19

263

AUTONOMOUS

300.00

357.00 27-Mar-19

369

AUTONOMOUS

100.03

359.00 29-Mar-19

52

AUTONOMOUS

1,000,000.00

359.60 25-Mar-19

158

IMTO

1,339.10

355.00 26-Mar-19

264

AUTONOMOUS

450.00

359.00 27-Mar-19

370

AUTONOMOUS

985.00

359.00 29-Mar-19

53

AUTONOMOUS

1,000,000.00

359.60 25-Mar-19

159

IMTO

31,064.03

355.00 26-Mar-19

265

AUTONOMOUS

2,470.00

359.00 27-Mar-19

371

AUTONOMOUS

972.09

359.00 29-Mar-19

54

AUTONOMOUS

124,700.00

359.50 25-Mar-19

160

IMTO

445.99

354.97 26-Mar-19

266

AUTONOMOUS

5,000.00

359.00 27-Mar-19

372

AUTONOMOUS

73.00

359.00 29-Mar-19

55

AUTONOMOUS

247,500.00

359.70 25-Mar-19

161

IMTO

296.25

355.00 26-Mar-19

267

IMTO

161,192.67

355.00 27-Mar-19

373

AUTONOMOUS

101.07

359.00 29-Mar-19

56

AUTONOMOUS

100,000.00

359.00 25-Mar-19

162

IMTO

3.27

354.27 26-Mar-19

268

IMTO

1,889.34

355.00 27-Mar-19

374

AUTONOMOUS

67.12

359.00 29-Mar-19

57

AUTONOMOUS

50,000.00

359.50 25-Mar-19

163

AUTONOMOUS

100,000.00

359.50 26-Mar-19

269

IMTO

65,253.09

355.00 27-Mar-19

375

AUTONOMOUS

223.72

359.00 29-Mar-19

58

AUTONOMOUS

13,646.62

359.50 25-Mar-19

164

AUTONOMOUS

100,000.00

359.50 26-Mar-19

270

IMTO

991.14

354.89 27-Mar-19

376

AUTONOMOUS

232.67

359.00 29-Mar-19

59

CBN

3,500,000.00

357.00 25-Mar-19

165

AUTONOMOUS

1,000,000.00

359.60 26-Mar-19

271

AUTONOMOUS

6,579.00

359.00 27-Mar-19

377

AUTONOMOUS

559.30

359.00 29-Mar-19

60

CBN

2,000,000.00

357.00 25-Mar-19

166

AUTONOMOUS

919,000.00

360.30 26-Mar-19

272

AUTONOMOUS

28,960.00

359.50 27-Mar-19

378

AUTONOMOUS

559.30

61

AUTONOMOUS

144.55

359.00 26-Mar-19

167

AUTONOMOUS

740,500.00

359.70 26-Mar-19

273

AUTONOMOUS

35,000.00

359.50 27-Mar-19

379

AUTONOMOUS

559.30

359.00 29-Mar-19

62

AUTONOMOUS

33.00

359.00 26-Mar-19

168

AUTONOMOUS

7,584.00

359.50 26-Mar-19

274

AUTONOMOUS

21,300.00

359.50 27-Mar-19

380

AUTONOMOUS

1,006.75

359.00 29-Mar-19

63

AUTONOMOUS

3,000.00

359.00 26-Mar-19

169

AUTONOMOUS

6,221.00

359.00 27-Mar-19

275

AUTONOMOUS

300,000.00

360.00 27-Mar-19

381

AUTONOMOUS

167.79

359.00 29-Mar-19

64

AUTONOMOUS

130.07

359.00 26-Mar-19

170

AUTONOMOUS

3,500.00

359.00 27-Mar-19

276

INTERBANK

62,000.00

361.00 27-Mar-19

382

AUTONOMOUS

223.72

359.00 29-Mar-19

65

AUTONOMOUS

470.00

359.00 26-Mar-19

171

AUTONOMOUS

340.00

359.00 27-Mar-19

277

AUTONOMOUS

120.00

359.00 28-Mar-19

383

AUTONOMOUS

214.77

66

AUTONOMOUS

229.14

359.00 26-Mar-19

172

AUTONOMOUS

140.00

359.00 27-Mar-19

278

AUTONOMOUS

1,751.00

359.00 28-Mar-19

384

AUTONOMOUS

534.44

359.00 29-Mar-19

67

AUTONOMOUS

200.00

359.00 26-Mar-19

173

AUTONOMOUS

300.00

359.00 27-Mar-19

279

AUTONOMOUS

41.00

359.00 28-Mar-19

385

IMTO

96,397.19

355.00 29-Mar-19

68

AUTONOMOUS

115.00

359.00 26-Mar-19

174

AUTONOMOUS

310.00

359.00 27-Mar-19

280

AUTONOMOUS

1,140.00

359.00 28-Mar-19

386

IMTO

1,191.63

355.00 29-Mar-19

69

AUTONOMOUS

80.00

359.00 26-Mar-19

175

AUTONOMOUS

1,630.00

359.00 27-Mar-19

281

AUTONOMOUS

800.00

359.00 28-Mar-19

387

IMTO

32,790.98

355.00 29-Mar-19

70

AUTONOMOUS

967.00

359.00 26-Mar-19

176

AUTONOMOUS

48.00

359.00 27-Mar-19

282

AUTONOMOUS

5,935.00

359.00 28-Mar-19

388

IMTO

449.33

354.96 29-Mar-19

71

AUTONOMOUS

465.00

359.00 26-Mar-19

177

AUTONOMOUS

265.00

359.00 27-Mar-19

283

AUTONOMOUS

110.38

359.00 28-Mar-19

389

AUTONOMOUS

700.00

72

AUTONOMOUS

2,000.00

359.00 26-Mar-19

178

AUTONOMOUS

300.00

359.00 27-Mar-19

284

AUTONOMOUS

140.00

359.00 28-Mar-19

390

AUTONOMOUS

900.00

359.00 29-Mar-19

73

AUTONOMOUS

255.00

359.00 26-Mar-19

179

AUTONOMOUS

320.00

359.00 27-Mar-19

285

AUTONOMOUS

770.00

359.00 28-Mar-19

391

AUTONOMOUS

1,500.00

359.00 29-Mar-19

74

AUTONOMOUS

305.63

359.00 26-Mar-19

180

AUTONOMOUS

382.42

359.00 27-Mar-19

286

AUTONOMOUS

2,000.00

359.00 28-Mar-19

392

AUTONOMOUS

4,100.00

359.00 29-Mar-19

75

AUTONOMOUS

3,929.00

359.00 26-Mar-19

181

AUTONOMOUS

359.00 27-Mar-19

287

AUTONOMOUS

340.50

359.00 28-Mar-19

393

AUTONOMOUS

770.00

359.00 29-Mar-19

76

AUTONOMOUS

246.32

359.00 26-Mar-19

182

AUTONOMOUS

93.00

359.00 27-Mar-19

288

AUTONOMOUS

400.00

359.00 28-Mar-19

394

AUTONOMOUS

600.00

359.00 29-Mar-19

77

AUTONOMOUS

1,811.18

359.00 26-Mar-19

183

AUTONOMOUS

150.00

359.00 27-Mar-19

289

AUTONOMOUS

500.00

359.00 28-Mar-19

395

AUTONOMOUS

700.00

78

AUTONOMOUS

1,391.35

359.00 26-Mar-19

184

AUTONOMOUS

159.12

359.00 27-Mar-19

290

AUTONOMOUS

460.00

359.00 28-Mar-19

396

AUTONOMOUS

630.00

359.00 29-Mar-19

79

AUTONOMOUS

2,406.11

359.00 26-Mar-19

185

AUTONOMOUS

454.00

359.00 27-Mar-19

291

AUTONOMOUS

500.00

359.00 28-Mar-19

397

AUTONOMOUS

3,200.00

359.00 29-Mar-19

80

AUTONOMOUS

40.00

359.00 26-Mar-19

186

AUTONOMOUS

461.80

359.00 27-Mar-19

292

AUTONOMOUS

500.00

359.00 28-Mar-19

398

AUTONOMOUS

3,000.00

359.00 29-Mar-19

81

AUTONOMOUS

80.00

359.00 26-Mar-19

187

AUTONOMOUS

100.00

359.00 27-Mar-19

293

AUTONOMOUS

690.00

359.00 28-Mar-19

399

AUTONOMOUS

1,500.00

359.00 29-Mar-19

82

AUTONOMOUS

917.00

359.00 26-Mar-19

188

AUTONOMOUS

288.00

359.00 27-Mar-19

294

AUTONOMOUS

140.00

359.00 28-Mar-19

400

AUTONOMOUS

1,200.00

359.00 29-Mar-19

83

AUTONOMOUS

441.00

359.00 26-Mar-19

189

AUTONOMOUS

115.00

359.00 27-Mar-19

295

AUTONOMOUS

257.00

359.00 28-Mar-19

401

AUTONOMOUS

1,200.00

359.00 29-Mar-19

84

AUTONOMOUS

185.00

359.00 26-Mar-19

190

AUTONOMOUS

290.00

359.00 27-Mar-19

296

AUTONOMOUS

287.00

359.00 28-Mar-19

402

AUTONOMOUS

1,000.00

359.00 29-Mar-19

85

AUTONOMOUS

1,825.00

359.00 26-Mar-19

191

AUTONOMOUS

900.00

359.00 27-Mar-19

297

AUTONOMOUS

557.51

359.00 28-Mar-19

403

AUTONOMOUS

1,700.00

359.00 29-Mar-19

86

AUTONOMOUS

300.00

359.00 26-Mar-19

192

AUTONOMOUS

305.00

359.00 27-Mar-19

298

AUTONOMOUS

1,184.86

359.00 28-Mar-19

404

AUTONOMOUS

400.00

359.00 29-Mar-19

87

AUTONOMOUS

162.75

359.00 26-Mar-19

193

AUTONOMOUS

981.80

359.00 27-Mar-19

299

AUTONOMOUS

1,470.76

359.00 28-Mar-19

405

AUTONOMOUS

100.00

88

AUTONOMOUS

2,490.00

359.00 26-Mar-19

194

AUTONOMOUS

170.00

359.00 27-Mar-19

300

AUTONOMOUS

256.52

359.00 28-Mar-19

406

AUTONOMOUS

780.00

359.00 29-Mar-19

89

AUTONOMOUS

9,000.00

359.00 26-Mar-19

195

AUTONOMOUS

120.00

359.00 27-Mar-19

301

AUTONOMOUS

1,090.00

359.00 28-Mar-19

407

AUTONOMOUS

1,600.00

359.00 29-Mar-19

90

AUTONOMOUS

49,000.00

359.00 26-Mar-19

196

AUTONOMOUS

470.00

359.00 27-Mar-19

302

AUTONOMOUS

3,131.94

359.00 28-Mar-19

408

AUTONOMOUS

1,000.00

359.00 29-Mar-19

91

AUTONOMOUS

6,700.00

359.00 26-Mar-19

197

AUTONOMOUS

150.00

359.00 27-Mar-19

303

AUTONOMOUS

48.92

359.00 28-Mar-19

409

AUTONOMOUS

1,360.00

359.00 29-Mar-19

92

AUTONOMOUS

564.52

359.00 26-Mar-19

198

AUTONOMOUS

174.00

359.00 27-Mar-19

304

AUTONOMOUS

3,525.00

359.00 28-Mar-19

410

AUTONOMOUS

2,000.00

359.00 29-Mar-19

93

AUTONOMOUS

208.45

359.00 26-Mar-19

199

AUTONOMOUS

300.00

359.00 27-Mar-19

305

AUTONOMOUS

392.05

359.00 28-Mar-19

411

AUTONOMOUS

1,000.00

359.00 29-Mar-19

94

AUTONOMOUS

221.64

359.00 26-Mar-19

200

AUTONOMOUS

956.34

359.00 27-Mar-19

306

AUTONOMOUS

2,542.00

359.00 28-Mar-19

412

AUTONOMOUS

775.00

359.00 29-Mar-19

95

AUTONOMOUS

272.10

359.00 26-Mar-19

201

AUTONOMOUS

6,587.00

359.00 27-Mar-19

307

AUTONOMOUS

290.00

359.00 28-Mar-19

413

AUTONOMOUS

3,900.00

359.00 29-Mar-19

96

AUTONOMOUS

3,168.69

359.00 26-Mar-19

202

AUTONOMOUS

585.00

359.00 27-Mar-19

308

AUTONOMOUS

284.17

359.00 28-Mar-19

414

AUTONOMOUS

3,500.00

359.00 29-Mar-19

97

AUTONOMOUS

167.40

359.00 26-Mar-19

203

AUTONOMOUS

5,975.00

359.00 27-Mar-19

309

AUTONOMOUS

404.06

359.00 28-Mar-19

415

AUTONOMOUS

17.10

359.00 29-Mar-19

98

AUTONOMOUS

106.54

359.00 26-Mar-19

204

AUTONOMOUS

790.00

359.00 27-Mar-19

310

AUTONOMOUS

81,934.87

359.00 28-Mar-19

416

AUTONOMOUS

2,900.00

359.00 29-Mar-19

99

AUTONOMOUS

288.40

359.00 26-Mar-19

205

AUTONOMOUS

1,007.06

359.00 27-Mar-19

311

AUTONOMOUS

89.79

359.00 28-Mar-19

417

AUTONOMOUS

3,339.61

359.00 29-Mar-19

100

AUTONOMOUS

158.36

359.00 26-Mar-19

206

AUTONOMOUS

359.00 27-Mar-19

312

AUTONOMOUS

505.08

359.00 28-Mar-19

418

AUTONOMOUS

370,000.00

359.00 29-Mar-19

101

AUTONOMOUS

149.14

359.00 26-Mar-19

207

AUTONOMOUS

42.00

359.00 27-Mar-19

313

AUTONOMOUS

117.92

359.00 28-Mar-19

419

AUTONOMOUS

5,000.00

359.00 29-Mar-19

102

AUTONOMOUS

278.83

359.00 26-Mar-19

208

AUTONOMOUS

2,955.00

359.00 27-Mar-19

314

AUTONOMOUS

117.92

359.00 28-Mar-19

420

AUTONOMOUS

350,000.00

360.00 29-Mar-19

103

AUTONOMOUS

148.23

359.00 26-Mar-19

209

AUTONOMOUS

250.00

359.00 27-Mar-19

315

AUTONOMOUS

304.90

359.00 28-Mar-19

421

AUTONOMOUS

574,000.00

360.00 29-Mar-19

104

AUTONOMOUS

131.72

359.00 26-Mar-19

210

AUTONOMOUS

840.00

359.00 27-Mar-19

316

AUTONOMOUS

2,779.45

359.00 28-Mar-19

422

AUTONOMOUS

50,000.00

360.00 29-Mar-19

105

AUTONOMOUS

200.00

359.00 26-Mar-19

211

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140.00

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317

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673.81

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WEDNESDAY, ͻ˜ ͺ͸͹΁ ˾ T H I S D AY

NEWS

FIRS Targets N750bn from Millionaire Tax Debtors FG woos owners of undeclared foreign assets with amnesty, waiver James Emejo and Alex Enumah in Abuja The Executive Chairman of Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, yesterday disclosed that the agency has set a target to realise about N750 billion from about 55,000 defaulting taxpayers.

This is coming as the federal government yesterday unveiled the Voluntary Offshore Assets Regularisation Scheme (VOARS) aimed at providing tax amnesty and permanent waiver of criminal prosecution to owners of offshore assets, who are willing to voluntarily declare those assets Fowler made the disclosure while addressing the House of Representatives joint committees on Finance, Appropriations, Aids, Loans and Debt Management, Legislative Budget and Research and National Planning and Economic Development on the 2019/2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

According to a statement issued by FIRS spokesman, Mr. Wahab Gbadamosi, the FIRS chairman told members of the committees that the recent substitution exercise carried out by the service led to recovery of N23.25 billion.

According to him, “From the bank accounts substitution exercise, we used banking information to bring noncompliant taxpayers with N1 billion and above turnover to comply. It has so far resulted in the recovery of N23.35 billion.

“The exercise has been extended to cover those with turnover of N100 million and above.

“To date about 500 of them have come forward and they have paid and we have collected in

the region of about N24 billion.

We believe we should be able to go through the 55,000 before the middle of this year which will be the middle of this year.

“In terms of estimates, which we should be able to generate from this exercise alone, that will be about N750 billion.”

Fowler, who noted that the FIRS recorded an increase in Value Added Tax (VAT) collection between 2015 and 2018, also explained that his agency is broadening its VAT collection scope with the adoption of States Accountants-General (SAG) collection platform, VAT Auto-Collect, integration of the GIFMIS platform with Ministries, Departments and Agencies, (MDAs) and through e-Service payment options.

He was categorical that VAT is not targeted at poor Nigerians.

He said: “Out of about N5.3 trillion, a large percentage is shared between states and local governments. In VAT, there has been a growth of over 44 per cent between 2015 and 2018 and that is at the current rate of 5 per cent.

“Now when you look at Africa as a continent, Nigeria still has the lowest VAT rate. When we look at the items that are not VATable, basic food is not VATable, medicals, education. But if you decide and you have the ability to go to a restaurant to eat and drink the same thing you can buy in the open market, then you pay VAT. So, VAT basically is a consumption tax and those who choose not to go to the open market to buy their food and cook at home are subject to VAT. VAT is not a hardship on the low income earners because, normally, they don’t even go to hotels when their wives can cook at home

Fowler and they can have something very nice.”

He noted that those complaining about an increase are the same ones who go to Ghana and pay triple the amount in VAT or London and pay a higher amount.

“Eighty-five per cent of VAT goes to state governments, which are supposed to be closer to the people. They can use that money as approved by their state houses of assembly. We had an increase of about 32 per cent from N4.02 trillion in 2017 to N5.3 trillion in 2018. At the federal level, clearly we can see all the projects that are being completed, based on the available funds at the federal level,” he said.

He added that the expectations of Nigerians cannot be different if progress in VAT collection is sustained.

Fowler also told the committees that through enforcement activities, tax offices, tax audit and investigation assessments, FIRS generated N28.51 billion, while $77.83 million has been recovered.

He noted that the FIRS and the Economic and Financial Crimes Commission (EFCC) Joint Tax

at providing tax amnesty and permanent waiver of criminal prosecution to owners of offshore assets that are willing to voluntarily declare those assets.

Speaking at the unveiling ceremony in Abuja, the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), said the VOARS was a scheme that was initiated by the Swiss Consortium with a view to facilitating the regularisation of offshore assets owned by Nigerians.

According to Malami, the scheme provides the legal basis for the Swiss Consortium to approach third party holders of the fund with the view of assessing information of the owners.

The third party, he noted, include banks, estate managers, auditors, accountants, amongst others, adding that his office is collaborating with the Ministry of Finance, the Accountant General of the Federation (AGF), the Federal Inland Revenue Service (FIRS), Infrastructure Concession Regulatory Commission (ICRC), Nigeria Intelligence Agency (NIA), Nigeria Sovereign Investment Authority (NSIA), Central Bank of Nigeria (CBN), and Debt Management Office (DMO), to develop a road map for implementation of the Executive Order 8, as well as mechanism for taxation on funds to be declared

by Nigerians as offshore assets.

He said, “It is expected that those funds owned by Nigerians that are not in the system will be voluntarily declared by the owners.”

He, however, explained that when funds are voluntarily declared by the owners, the Federal Government of Nigeria will deduce 35 per cent as recoveries while two and half

per cent will be charged as administrative fees for purpose of assessing the funds, adding that 63 per cent will be registered in the system to become taxable in Nigeria.

He added, “The infrastructure funds will serve as a proposed investment facility, where the Federal Government of Nigeria will have minimal investment, with the matching investments from banks and prospective international investors as well as Nigerians, holders of the 63 per cent who are expected to invest into this fund with the view of financing Nigerians infrastructure and bridging the deficient all attracting Foreign Direct Investment (FDI).

“I wish to solicit the cooperation of all Nigerians to key into this initiative,” he explained.

The AGF further stated that the rationale for the VOARS is to provide an opportunity for taxpayers or amnesty for tax defaulters to voluntary declare their offshore assets and income from sources outside Nigeria relating to the preceding 30 years of assessment and in return obtain some benefits like: “Permanent waiver of criminal prosecution for tax offences and offences related to the offshore assets, penalties and interests concerning such declared offshore assets”.

In addition, he said the volunteers would receive from the “Federal Government of Nigeria an Offshore Assets Regularisation Compliance Certificate on the declared and regularised offshore assets; be free to use or invest their duly regularised residual offshore assets in any manner in Nigeria or overseas, and be subject only to annual tax to Federal Government of Nigeria on the income earned on such residual offshore assets”.

The PDP hailed the Federal High

Court for saving the country's democratic process by throwing out the suit it said was instituted by anti-democratic forces allegedly working for the APC, in its plot to scuttle the collation of the results of the election.

The party in a statement yesterday by its National Publicity Secretary, Mr. Kola Ologbondiyan, said that the sweeping victory being recorded

by Wike, even in areas hitherto considered as opposition fortresses, clearly exposes the reason behind APC's desperation to scuttle the collation process.

The main opposition party described the ruling as well as the on-going collation as the triumph of the will of the people of Rivers State, who freely gave their mandate to the PDP and its candidate, Wike.

Ologbondiyan said, "Moreover, the court ruling rekindles the hope by Nigerians on the capacity of the judiciary to uphold the will of the people, particularly, in the overall quest

by Nigerians to reclaim the Presidential mandate, which they freely gave to the PDP candidate, Atiku Abubakar, at the February 23, 2019 presidential polls."

It stressed that it has a watertight case against the APC and President Muhammadu Buhari at the Presidential Election Petition Tribunal, for which majority of Nigerians, across the board, are in high spirit that the stolen mandate would be recovered at the tribunal.

The party therefore directed its members and supporters in Rivers State to continue to be at alert to forestall any attempt by anti-democratic forces, working for the APC, to disrupt the exercise.

The PDP called on the Independent National Electoral Commission (INEC) to ensure that nothing encumbers the conclusion of the collation process and announcement of Wike as the rightful winner of the Rivers governorship election.

April 1, which was addressed to the National Chairman of the party, Mr. Adams Oshiomhole, insisted that the zone should be given the opportunity to produce the Speaker of the House of Representatives as a reward for the 2.4 million votes it gave President Muhammadu Buhari during last presidential poll.

The letter was signed jointly by coordinators from five states and the Federal Capital Territory (FCT), including Mr. Muyideen Yusuf (Kwara), Ms. Rita Longjap (Plateau), Mr. Muhammad Ibn Muhammad (Niger), Mr. Lucas Cassius (Nasarawa), Mr. Yahaya Dauda (FCT) and Mr. Shehu Araga (Kogi).

The leadership of the APC had openly endorsed Senator Ahmed Lawan from the Northeast for Senate president and Hon. Femi Gbajabiamila from the South-west as Speaker of the House of Representatives.

Also the National leader of the party, Senator Bola Tinubu, had declared his support for the Lagos State-born lawmaker, Gbajabiamila.

But the North-central group in the letter argued that since the North-west has the president, South-west has vice president and Senate president has been zoned to North-east, the speakership must be zoned to North-central.

The letter reads in part: "North-central should be rewarded for its performance in the 2019 election. With 2.4million votes for President Muhammadu Buhari, North-central came third behind North-west and North-east.

"Even though South-west has the VP, it didn't perform as well as North-central in the last elections. So, who should be rewarded?

"North-central has consistently been loyal to the party. Since 1999, North-central has never occupied the position of speaker or deputy speaker while all the other zones have occupied these positions."

Force (JTF) was introduced in 2018 to enhance the fight against tax-related economic fraud.

He disclosed that as at December 2018, the JTF had recovered N6. 94 billion and $278,430.

Fowler added that the FIRS initiated income tax on property owners in Abuja and Lagos as part of efforts to deepen tax revenue collection, expand the tax net and increase the revenue base.

Fowler said: “This project, which initially targeted property owners in Abuja and Lagos, has so far yielded N4.3 billion, and is being extended to other locations.

“In this regard, Oyo and Kaduna States have commenced.

“It is important to note that this is not a property tax, but the use of the provisions of the law to bring into the tax net companies that own properties but failed to file necessary tax returns and pay appropriate taxes due.’’

Speaking on the tax audit exercise, Fowler said it covers both the National Tax Audit (NTA) and the Pioneer Audit (PA). The NTA, he said, contributed N212.79 billion in 2018.

FG Woos Owners of Undeclared Foreign Assets with Amnesty, Waiver Meanwhile, as part of efforts in repatriating and channeling Nigeria's funds outside the country into developmental projects, the federal government yesterday unveiled the Voluntary Offshore Assets Regularisation Scheme (VOARS).

The scheme, which is an offshoot of the Executive Order 8 signed last year by President Muhammadu Buhari, is aimed

WIKE LEADS IN 13 LGAS AS INEC CONTINUES COLLATION OF RESULTS TODAY of the Federal High Court in Abuja yesterday dismissed the suit filed by the AAC seeking for a fresh election for the governorship and House of Assembly in the state.

Justice Ekwo dismissed the suit on the grounds that it is not a pre-election matter and as such the court lacks the jurisdiction to entertain it.

The AAC had in their originating summons prayed the court to stop INEC from resuming, collating and concluding the March 9 election results in Rivers State and from declaring any person or group as winners of the poll.

The plaintiffs further urged the court to order a fresh election since according to them the widespread violence that characterised the election had affected the credibility of the polls.

But delivering the judgment of the court on the preliminary objection filed by the 2nd defendant, Justice Ekwo held that the matter, being a post-election

case ought to be heard solely by an election petition tribunal and not the Federal High Court or any other court.

He said though the matter brought before the court concerns the credibility of the March 9 governorship and House of Assembly election which was marred by violence and other issues, but for the fact that election has been held, jurisdiction has shifted from the Federal High Court to the tribunal.

Justice Ekwo held that the reliefs sought by the plaintiffs are post election reliefs and since election matters are statutory, the Federal High Court cannot grant them.

"Once election has been held any dispute arising from the election are matters for the tribunal," he held.

Justice Ekwo subsequently declined jurisdiction and ordered the dismissal of the case for want of jurisdiction.

He added that since the preliminary objection of the 2nd

defendant succeeds and is hereby upheld it would be pointless to go into the main suit.

The AAC had asked the court to stop INEC from proceeding with the collation, conclusion and announcement of results in the March 9, governorship and House of Assembly election in Rivers State pending the determination of their suit.

The party alongside Mr. Biokpomabo Awara and Mr. Ben-Gurion Peter, citing widespread violence and other electoral malpractices, called for the cancellation of the Rivers polls and a fresh one is conducted instead.

Respondents in the suits were INEC and PDP. The electoral body had last month suspended the electoral process after some military personnel and armed men invaded its collation center in Port Harcourt, Rivers State.

After it suspended the process, INEC then constituted a fact finding committee to look into

the issue and advise accordingly.

Following the report of the fact-finding committee, INEC then announced that it would resume collation of the results in Rivers State, adding that it has in its custody results already collated and announced from 17 local governments areas.

This prompted the plaintiffs to approach the court for an order to stop INEC from resuming collation of the election results.

The plaintiffs had in their originating summons prayed the court to stop INEC from resuming, collating and concluding the March 9 election results in Rivers State and from declaring any person or group as winners of the poll.

The plaintiffs specifically applied for an order compelling the electoral body to maintain the inconclusiveness of the election as announced earlier.

PDP Hails Court Decision on Tally

NDUME ADAMANT, ROLLS OUT NINE-POINT AGENDA passage of the Constituency Development Bill to make "constituency projects more transparent, accountable, efficient and effective."

He promised to cooperate and synergise with other senators-elect with a view for the Senate to agree on timeline for confirmation, passage of bills especially the annual budgets, which he said will not exceed 90 days from the day of submission.

Other issues on the Ndume for Senate President Agenda include: "to make laws that will block leakages and devise improved means of generating revenue, especially through the

amendment and review of our tax laws, which will help to reduce reliance on local and foreign loans to finance budget."

Ndume also promised "to run the 9th Senate transparently through open accountability with full participation of all senators.

"For example, we will transfer the approving powers of the privileges of the senators like foreign travels, allowances to Senate Services Committee or a new committee to be known as "Ways and Means Committee."

To uphold the party's principles and policies, Ndume said the Senate under his presidency will make laws and review existing ones "to be in

tandem with APC's Next Level Agenda for Nigeria."

North-central Group Protests, Demands Zoning of Speaker to Zone Meanwhile, a group of APC stakeholders yesterday staged a protest at the National Secretariat of the party in Abuja, demanding zoning of the House of Representatives Speaker to the North-central zone of the country.

The group, under the auspices of North-central APC Ambassadors, in a letter dated

48

WEDNESDAY APRIL 3, 2019 ˾ T H I S D AY

NEWS

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

Senate to Okay 2019 Budget April 16 Buhari refuses assent to Ajaokuta steel completion bill, seven others Deji Elumoye in Abuja The Senate yesterday gave its Appropriation Committee a marching order to get the 2019 budget ready within one week for consideration by the upper legislative chamber and passage

by April 16.

This is coming as President Muhammadu Buhari has declined assent to Ajaokuta Steel Completion Bill and seven other bills bringing to 34 the number of bills refused assent by the President

in the last four years.

Specifically, the Senate charged its sub-committees to submit their reports by Friday to the Appropriation Committee that will present its report at plenary from April 9 to 11.

Senate President, Dr. Bukola Saraki, who announced this at plenary, also adjourned plenary to April 9 to enable relevant committees complete budget defence sessions with Ministries, Departments and Agencies (MDAs).

Presidency Appeals to Saudi for Leniency over 20 Nigerians on Death Row The federal government has expressed concern over the number of Nigerians awaiting execution in Saudi Arabia and those already executed over drug related offence and appealed to the Kingdom for leniency.

The Senior Special Assistant to the President on Foreign Affairs and Diaspora, Mrs. Abike DabiriErewa, who briefed State House correspondents yesterday at the Presidential Villa, Abuja, appealed for leniency on Nigerians still on death row in the country.

A Nigerian woman alongside two Pakistani men and a Yemeni man were executed on Monday for drug trafficking, bringing to 53 the number of people put to death in 2019 in the country.

Dabiri-Erewa said so far, eight Nigerians have been executed while 20 are on death row in Saudi Arabia.

She described the news of recent execution of a Nigerian woman in that country for drugrelated offences as pathetic, tragic and sad.

“We know that drug issues in Saudi Arabia attract death penalty; that will be the eighth Nigerian to be executed for drug in Saudi in the last few years and we have about 20 on death row for drug in that country and about 12 that have been sentenced to various jail terms.

“The issue with drug in Saudi is this - there are cases of syndicates who work with airlines who actually put these drugs in the bags of unsuspecting pilgrims.

“But we have had cases where truly they did commit the offence; so, we are appealing to the Saudi authorities to make the trial fair, open and ensure that justice is done; even if you are going to die, you die for an offence you have committed.

“I appeal to Nigerians, especially those going to Saudi with stuff; obey the laws of the land; even kola nut is treated as drug; so we continue to appeal to the Saudi authorities to treat some of the cases with some form of leniency,’’ she said.

The special assistant said that while Nigerians are expected to be law-abiding, the Saudi authorities should ensure that justice truly is done before somebody is sentenced to death.

According to her, the federal government will ensure proper intervention on behalf of Nigerians to ensure that justice must be done.

She advised Nigerians going

to Saudi Arabia on Ethiopian or Egyptian airlines to identify their luggage as there have many cases when passengers were accosted on the claim that a banned substance was found on their luggage.

According to her, it is now mandatory to do baggage identification before boarding the aircraft.

She said the case of Saudi is particularly worrisome because some of the suspects really did not commit the crime.

“One Nigerian was freed not too long ago with the intervention of our mission in Jeddah; it turned out that he actually did not carry the drug and he was freed.

“One again has a court case and the embassy is intervening on his behalf and hopefully he too will be freed.

“The embassy is monitoring the trial; however, Saudi is a bit of a difficult place; they are not allowed to go to the prison and see them; they were allowed once.

“So, the embassy is continuously requesting to at least go to the prison and see Nigerians on the death row and those that have been sentenced for various offence,” she said.

She added: So, we need to engage more with Saudi authorities and ensure that we do whatever we can for these citizens of Nigeria. While we condemn drug trafficking in any ramification, let’s ensure we get justice for everyone of them.’’

Dabiri-Erewa said the second case is that of Nigerians who allegedly raided a Bureau de Change in Dubai and were apprehend after CCTV review.

She said their action is disgraceful and an embarrassment to the country; to themselves and their families.

The presidential aide listed the names of the suspects as Chimuanya Ozoh, Benjamin Ajah, Kingsley Ngoka, Tochukwu Alisi and Chile Ndunagu.

On frequent killing of Nigerians in South Africa, she attributed the problem to xenophobic attacks, drug-related crimes, and cultism, among others.

She said different levels of actions and interventions have been taken to stop the killings, adding Nigerians in South Africa should also stop killing one another.

Dabiri-Erewa appealed to Nigerians to continue to be good ambassadors of the country wherever they found themselves.

Speaking after the Vice Chairman of the Appropriation Committee, Senator Sunny Ogbuoji ( Ebonyi South) disclosed that less than 10 sub-committees had submitted their reports, Saraki assured that the appropriation report will be considered by next week and passed on April 16.

According to him, if any subcommittee fails to submit its report to the Appropriation Committee

by Friday, the appropriation panel will be empowered to present the submission to the Executive.

“Let us agree that they will submit by Friday. We will suspend plenary just for a week till April 9. We should be able to reconvene here by Tuesday and lay the report

by April 9, 10 and 11 and pass this budget by April 16 because we have the Easter break coming as well. We don’t have that luxury of time”.

President Buhari had on December 19, 2018 presented an N8.83 trillion 2019 Appropriation Bill to a joint session of the National Assembly at the chambers of the House of Representatives.

Saraki also at plenary yesterday read seven letters from President Buhari declining assent to eight

bills including the Bill seeking for fund to complete Ajaokuta Steel Company forwarded to him by the National Assembly in February.

President Buhari cited several reasons ranging from infractions on extant laws, duplication of responsibilities of existing agencies, to financial constraints for refusing assent to the bills .

The President in his refusal of assent to the Ajaokuta Completion Fund Bill as stated in a letter dated March 19, 2018, said appropriating $1billion from the Excess Crude Account (ECA) as requested in the bill by the federal legislators, is not the best strategic option for Nigeria at this time of budgetary constraints.

He said: “The nation cannot afford to commit such an amount in the midst of competing priorities with long-term social and economic impact that the funds can be alternatively deployed towards .

“Bills, which seek to make appropriation of revenues to fund public expenditure should be consolidated in the annual Appropriation Act such that these proposals pass through the traditional scrutiny that budget

proposals are subjected to by the Ministry of Finance , Ministry of Budget and National Planning and the National Assembly .

“Furthermore, as the Excess Crude Account Funds belong to the Federation, it would be proper to consult with the National Economic Council where the states are represented.

“Relevant stakeholders such as the Ministries of Mines and Steel Development, Industry, Trade and Investment were not fully consulted. The inputs of key stakeholders are necessary to create the optimal legal and regulatory framework as well as institutional mechanism to adequately regulate the steel sector,” the President said.

In another letter of refusal of assent dated 27th March , 2019, President Buhari cited provisions contained in section 32 of the Small and Medium Enterprises Development Agency Bill 2018 as the major reason for refusing assent to the Bill .

According to him, “Section 32 of the Bill introduces (I) a 2.5 per cent levy on the profit before tax of the target companies, which will increase the tax burdens of

the companies while offering no direct benefit to them : (ii) a one per cent levy on imports which will also add to the cost of doing business in the country , (iii), a five per cent levy on luxury goods which duplicates efforts by the Federal Ministry of Finance to raise excise on such goods in a more sustainable manner to the benefit of the Federal Government treasury”.

He added that if signed into law, the agency will have similar objectives to the Bank of Industry particularly with regard to the funding of Small and Medium Enterprises . “ Accordingly , it is important to streamline its functions to avoid a duplication or overlap of functions with other government institutions performing similar functions aside the likelihood of increasing public reccurent expenditure by the proposed creation of new public sector bodies “, he added .

Other bills declined assent by the President through separate letters include the Nigerian Aeronautical Search and Rescue Bill 2018, Chartered Institute of Training and Development of Nigeria (Establishment)Bill2018and Federal Mortgage Bank of Nigeria Bill 2018, among others.

REST IN PEACE...

L – R: Speaker, House of Representatives, Hon. Yakubu Dogara; Deputy Speaker, Hon. Lasun Yussuf; former Speaker, Hon. Patricia Etteh; former Speaker /Governor of Sokoto State, Hon. Aminu Waziri Tambuwal; former Deputy Speaker, Hon. Babangida Nguroje; and former Deputy Speaker/ Governor-elect of Imo State , Hon. Emeka Ihedioha, paying their last respect to the late Hon. Bethel Amadi , at the National Assembly Complex....yesterday

CAN ExplainsVisit to Buhari Onyebuchi Ezigbo in Abuja The Christian Association of Nigeria (CAN) has described the criticism by the National Christian Elders Forum (NCEF) over the association’s visit to President Muhammadu Buhari as baseless.

The Director, Legal and Public Affairs of CAN, Samuel Kwamkur, said it is right for CAN to visit and congratulate President Buhari who has been declared winner of the just concluded 2019 presidential election by the Independent National Electoral Commission (INEC).

Reacting to the statement by the National Christian Elders

Forum NCEF, Kwamkur said the NCEF has been disbanded by the leadership of CAN almost a year ago and as such has no right to fault the decision of CAN. “CAN has no business with the elders forum on this matter. Most of the leaders of CAN were in that team who went to see President Buhari. The five blocs constituting CAN was fully represented by the leaders of the blocs.

He said the Catholic secretariat was represented by the Secretary of the body alongside other respected leaders from the bloc as against the falsehood that Catholic was not part of the visit.

“We visited Buhari as a constituted body, not a political party; neither do we share political

interest as an association. We work with the authority that be and if INEC is the constituted authority with the mandate to conduct elections and declare the winner what reasons do we have to say no to it? It means we are being partisan, if we go against the decision of INEC,” he said.

The CAN scribe said Christians are advised to respect authorities, adding that the “Bible did not say respect the leaders that love you or behave well to you. There is no condition to that admonition in the Bible”.

He also explained that the speech read to President Buhari did not say the visit was because INEC has declared Buhari winner.

“There is nothing wrong with the opposition going to court. In fact, we appreciate the moves to avoid crisis after election. If the court later decided in favour of the opposition, CAN will also go and congratulate the person again. We have also taken decision to see the opposition and share with them to encourage the rightful moves.

“I do not see why we should be fighting over this. We have been confronting this administration with the truth. How can the elders’ forum want to summon the CAN president and direct him on what to do? It is not proper,” he said.

WEDNESDAY APRIL 3, 2019 ˾ T H I S D AY

49

NEWSEXTRA

Tender Unreserved Apology to Onnoghen Now, ADC Tells Buhari Says Nigeria in worse situation that truncated first republic

Adedayo Akinwale in Abuja The African Democratic Congress (ADC) has called on President Muhammadu Buhari to tender an unreserved apology to the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, and restore him to his position with immediate effect.

Onnoghen is standing trial on an alleged six-count charge of failure to disclose his assets

as required by the law for public office holders.

The charge was preferred against him by the federal government following a petition to the Code of Conduct Bureau (CCB) by Mr. Dennis Aghanya, an associate of President Buhari, and a director of the Anti-corruption and Research Database Initiative.

Following the trial, the president suspended the CJN from office in controversial circumstances.

Presidency: We Have Spent N300bn on Social Investment Programme Iyobosa Uwugiaren inAbuja The federal government yesterday disclosed that it had spent about N300 billion on the National Social Investment Programmes in the last three years.

The Presidential Adviser on National Social Welfare Programme, Maryam Uwais, stated this in Abuja during a joint oversight visit by the Senate and the House of Representatives Committees on Poverty Alleviation.

The delegation was led by the Chairmen of the committee in the two chambers, Senator Lawal Gumau and Hon. Mohammed Wudil respectively.

The presidency said the social investment programmes since inception in 2016, is aimed at improving the living conditions of Nigerians through capacity building, investment and direct support.

According to Uwais, “So far, we have over 11.5 million direct beneficiaries on all our programmes.

We also have about nine million indirect beneficiaries. Right now, we have over 700,000 people on the National Social Register, but the people we are paying under the Conditional Cash Transfer Scheme are about 300,000.

“This is because we select only the poorest of the poor in every community, and every payment is done through their bank account, so we are able to track every kobo spent.’’

On the school feeding programme, she said the programme was currently feeding over 9.5 million pupils in 30 states and has empowered 101,000

cooks.

She said: “We are feeding over 9.5 million children in about 56,000 schools around the country. The value chain in the school feeding programme is just amazing. Not only are the children coming back to school, we are seeing that they are more alert in class and absolutely happy to come to school.

“We are also seeing that farmers are smiling to the banks. This is because we need at least seven million eggs every week, over 600 cattle, 83 metric tonnes of fish and lots of fruits and vegetables.’’

Uwais further explained that through the Government Enterprise and Empowerment Programme (GEEP), the federal government is providing financial support to businesses at the bottom of the financial pyramid, mentioning Tradermoni, Farmermoni, and Marketmoni as the programmes being executed under GEEP. She said: “Tradermoni was created specifically for petty traders and artisans across Nigeria. With Tradermoni, you can receive interest-free loan starting from N10,000 and growing all the way to N100,000 as you pay back.’’

The presidential adviser mentioned the delivery of social benefits as one of the challenges affecting the scheme, saying adequate funding remained a major setback.

According to her, ‘’We don’t get our full funding, only about 25 per cent of our funds have been released, so we have to find ways and means to be cost effective about our spending.’’

180 Nigerians Deported from Libya Segun James Over 180 Nigerians stranded in the North African Country – Libya, were yesterday deported to the country through the Murtala Muhammed International Airport, Lagos.

The returnees were received by official of the National Emergency Management Agency (NEMA).

The returnees were flown in aboard Buraq Air with flight number UZ 189- 190 .The aircraft was marked with registration number 5N- DMG. It departed MJI Airport Tripoli, Libya and landed at the cargo wing of MMIA. The returnees comprised of 82

female adults, two female children and 11 female infants, while the adults male were 79 with one male child and five male infants making it a total of 95 females and 85 males.

Welcoming the returnees to Nigeria, the Coordinator, NEMA’s Lagos Territorial Office, Alhaji Idris Muhammed, enjoined the returnees to make better use of their bitter experiences in positive ways by turning a leaf and forging ahead of the dangers and risks that they have escaped in the course of their unfortunate sojourn.

He enjoined all the segments of the society to see the menace of irregular migrations as emergency situation.

The party made its position known yesterday in a communiqué signed by the National Chairman and National Secretary of the party, Chief Ralph Nwosu and Alhaji Said Abdullahi respectively, and read by its National Publicity Secretary, Mrs. Yemi Kolapo, at a press conference after the National Working Committee (NWC) meeting of the party.

According to the party, “We call on President Buhari to tender an unreserved apology to Justice Walter Onnoghen, and restore him to his position with immediate effect. Any further progression of the torture of this Supreme Court chief would debase Nigeria. The government must learn to operate constitutionally and accord respect and due courtesies to members of all arms of government and the generality of Nigerians.”

The party lamented that its

strategic goals during the general election were not met because the country’s democracy was tragically challenged, adding that there was collusion between the federal government and the Independent National Electoral Commission (INEC) to cheat and deliver results scripted from the presidency.

Kolapo alleged that the government in power promoted violence and used the police, military and other intelligence agencies and thugs to terrorise innocent citizens and pollute the electoral space.

Earlier, Nwosu regretted that democratic advancement and growth had plummeted since 2015 when Buhari came to power.

He stressed that the degeneration has climaxed with the nature of the 2019 elections, lamenting that state institutions like the INEC, the Economic and

Financial Crimes Commission (EFCC), Independent Corrupt Practices and other related offences Commission (ICPC) and the National Communication Commission (NCC) have become compromised and serve as tools in the hand of the presidency.

According to him, “The post-mortem of the 2019 general election signals a democracy in a sordid state, a Nigerian nation in relapse and a political leadership in denial.

“As a nation we have found ourselves in a situation worse than the events that truncated the first republic; all the divisive signs, disregard for lives, bloodbath, ethnic hostilities, electoral violence and leadership and institutional failures that orchestrated the demise of the first republic and near rupture of the country have become usual features in our present state.

“Unfortunately, President Buhari, who was voted into office in 2015, and his All Progressives Congress (APC) leaders feel no sense of burden, rather they are blinded by self-glory and intransigent political ululation.”

Nwosu, however, urged the judiciary to save the country and take decisive action to make reckless politicians pay the price.

ADC also said it would continue to give unalloyed support to the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, in his quest to reclaim his mandate, stressing that like most Nigerians, the party believes the people voted for him (Atiku) to be president.

“President Buhari, INEC and other security agencies are merely colluding to circumvent the will of the people. This cannot stand,” ADC stated.

CELEBRATING EXCELLENCE…

L-R: Pro-Chancellor, University of Lagos (UNILAG), Dr. Wale Babalakin; one of the outstanding graduating students; and Vice-Chancellor, UNILAG, Prof. Oluwatoyin Ogundipe, at the university’s 50th convocation ceremony in Lagos…recently

Trade Ministry Clarifies Status of Special Economic Zone Company Peter Uzoho Following the altercation between the Minister of Trade, Industry and Investment, Okechukwu Enelamah, and the Senate last Monday over the controversial Special Economic Zone Company (SEZ), which led to the rejection of the ministry’s 2019 budget estimates by the Senate, the ministry has insisted that the company is genuine.

The Senate Committee on Trade and Investment had in the course of the presentation of the 2019 budget proposals of the ministry before it uncovered the said Special Economic Zone Company listed for N42 billion appropriation, described it as “misnomer and nothing but financial ambush to Nigeria.”

However, in a statement issued yesterday to clarify the status of the ‘SEZ Company’, the Special Adviser to the minister on Strategy and Communications, Mr. Bisi Daniels, said the company was a presidential initiative incorporated as a special purpose vehicle to deliver

Project MINE (Made-in-Nigeria for Exports).

He said: “The attention of the Federal Ministry of Industry, Trade and Investment has been drawn to reports in sections of the media about the status of Nigeria SEZ Investment Company Limited (NSEZCO) also known as Nigeria Special Economic Zones Company Limited.

“We wish to restate that NZESCO was incorporated as a special purpose vehicle to deliver Project MINE which is a presidential initiative. The Federal Government’s Economic Recovery and Growth Plan (ERGP) identified the development of Special Economic Zones (SEZs) as a major strategic tool to accelerate the implementation of the Nigeria Industrial Revolution Plan (NIRP).

“And Project MINE was envisioned by the Federal Ministry of Industry, Trade and Investment to develop SEZs to world-class standards and position Nigeria as the pre-eminent manufacturing

hub in sub-Saharan Africa and a major exporter of made-in-Nigeria goods and services regionally and globally.

“Indeed, Project MINE was necessitated by the following factors, which include lack of operating competitiveness that limits the growth of the zones, despite the presence of generous fiscal and regulatory incentives.

For government-owned SEZs, there were limited federal budget allocations to make the required investments in infrastructure, operations and management services.

“The need to develop the skills and experience to operate and manage the zones to worldclass standards of efficiency; the absence of a deliberate strategy to attract investors, create clusters or encourage the development of local value chains using SEZs, and therefore the lack of appropriate link between the industrialisation strategy of government and the Free Trade Zones.”

Daniel further explained that the objectives which Project MINE seeks to achieve include supporting structural transformation of the Nigerian economy by increasing the manufacturing sector’s contribution to GDP to 20 per cent by 2029 and contributing to sustainable inclusive growth by creating 1.5 million new direct manufacturing jobs in the initial phase of Project MINE. Other objectives according him, are “increase and diversify foreign exchange earnings to at least $30billion annually by 2029; by increasing manufacturing sector exports; create local models of global best practice in provision of world class infrastructure at competitive costs connecting SEZs to international and regional markets with transport links, uninterrupted power, ICT, water, sewage and other services to ensure smooth and efficient operation of SEZ businesses.”

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NEWSEXTRA

Kogi Assembly Recommends Removal of Chief Judge Army warns commander not to interfere in the state’s politics Kingsley Nwezeh in Abuja Kogi State House of Assembly has recommended the removal of the state’s Chief Judge, Justice Nasir Ajana, for alleged gross misconduct.

This followed the adoption of the report and recommendations of the House Committee on Public Accounts, which indicted the Kogi State High Court and Kogi Hajj Commission for financial breaches.

The recommendation of the state House of Assembly is coming as the Nigerian Army Headquarters yesterday warned the Commander in charge of Army Headquarters Records, Major General Elvis Njoku, against any involvement of soldiers in the alleged plan to remove the Chief Judge of the state from his official residence.

The assembly also said that the Chief Judge could step aside to defend himself over the indictment by the Auditor-General of the state.

It also recommended punitive measures for those indicted to prevent a recurrence.

The state judiciary had been in disagreement with the state government over issues bordering on the screening of the workforce, leading to the

ongoing strike action which entered its fourth month on Monday.

Governor Yahaya Bello had, last month, called on the striking judiciary workers to subject themselves to table payment systems designed to weed out ghost workers and unintended beneficiaries from the system.

The judiciary workers objected to the order, insisting that they have their own internal screening mechanism.

Meanwhile, the Nigerian Army Headquarters yesterday warned the Commander in charge of Army Headquarters Records, Major General Elvis Njoku, against any involvement of soldiers in the alleged plan to remove the Chief Judge of the state from his official residence.

The order followed allegations that the soldiers were positioned to eject the CJ from his official residence.

But the army statement warned the commander not to interfere in the crisis under any guise.

“The Nigerian Army has received a report of the purported or planned use of soldiers to remove and eject the Kogi State Chief Judge from his official residence.

“The NA under the

Court Reaffirms Omo-Agege’s Candidacy for APC Sylvester Idowu in Warri Less than two weeks after a Federal High Court in Asaba, Delta State, sacked the All Progressives Congress (APC) faction that produced Senator Ovie Omo-Agege for the just-concluded general election in Delta State, the same court sitting in Warri has upheld the candidacy of the senator and other APC candidates that emerged through the primaries supervised

by Independent National Electoral Commission (INEC) in the state.

The presiding judge, Justice Emeka Ewite, in his judgment delivered yesterday, struck out the suit filed by the applicant, Mr. O’tega Emerhor, challenging the validity of the primary that brought Omo-Agege.

Ewite struck out the suit on the ground of incompetence and lacking in merit.

He noted that Omo-Agege and Rev. Francis Waive, the winner of the Ughelli/ Udu Federal Constituency were necessary parties that ought to have been joined in the suit.

The judge further observed that Emerhor failed to deny the counter-affidavit filed by INEC, that it did not monitor the primary for which he purportedly emerged.

“Failure to deny the counteraffidavit is an admission which required no further proof that INEC only monitored the primaries in which Omo-Agege emerged.

“INEC is to supervise or monitor primary elections and

not to conduct,” he said.

Addressing journalists shortly after the judgment, counsel to the APC, Mr. Lucky Ajokperiniovo, described the court verdict as a `landmark’ for the party and all the candidates that emerged legitimately through the primaries.

“It is a landmark judgment; the court has again reaffirmed the position of the Supreme Court to say that persons who are not joined as parties to a suit are not bind by the judgment given by that court.

“The court struck out the suit filed by Emerhor for incompetence and lack of merit.

“The court said Omo-Agege’s primary elections remain the valid and legitimate primary election conducted by the National Working Committee (NWC) of the APC. “The consent judgment is a judgment of court that is valid and binding on all persons until it is set aside.

“This judgment has given the party huge relief in determining who the senatorial candidate in the 2019 general election in Delta Central,” he said.

Also, counsel representing INEC, Mr. Robert Emukpoeruo said that the national electoral umpire was neutral and impartial.

“It is the statutory duty of INEC to monitor primary elections and report those who won and their scores.

“The report by INEC shows that Omo-Agege won the primaries conducted by the NWC,” he said.

leadership of Lieutenant General Tukur Yusuf Buratai will not contemplate interfering under any guise in the internal executive/

judiciary conflict in Kogi State or any other state for that matter,” it said.

The statement further noted that “the Army Headquarters

has already directed and warned the commander in the state to steer clear of this conflict.

“As a professional and

law-abiding organisation, the NA hereby strongly distances itself from Kogi State conflict between the state executive and the judiciary”.

67 HEARTY CHEERS…

National Leader of All Progressives Congress, Senator Bola Tinubu (right), and Yobe State Governor-elect, Mallam Mai-Mala Buni, when the governor-elect paid a courtesy call on Tinubu to congratulate him on his 67th birthday at his residence in Ikoyi, Lagos...recently

NPC Puts Nigeria’s Life Expectancy at 52Years The National Population Commission (NPC) has said that the current overall life expectancy of Nigeria stands at 52.2 years.

The Acting Chairman of NPC, Alhaji Hassan Bashir, stated this in New York while delivering Nigeria’s statement at the 52nd Session of the United Nations Commission on Population and Development.

According to the World Health Organisation, life expectancy refers to the average number of years that a newborn is expected to live if current mortality rates continue to apply.

The population chief said Nigerians “60 years and over currently represents less than five per cent of the entire population, while overall life expectancy is

52.2 years”.

Bashir added: “As you may be aware, Nigeria estimated population is currently at over 198 million with an annual growth rate of 3.2 per cent.

“The total fertility rate remains at 5.5 per woman; 63 per cent of the entire population is under the age of 25; 42 per cent is under the age of 15 years.

“Fifty per cent of the female population is in the reproductive years, while 54.8 per cent of the population constitutes the working age,” the Nigerian population chief said.

According to him, Nigeria recently concluded the field work of its national demography and health survey in 2018 and while it awaits the outcome of that

survey, early and child marriage still persists.

He said data available indicated that unintended and unwanted pregnancies were common as 23 per cent of the adolescent girl age 15 to 19 years have commenced reproduction.

Bashir said the situation had put women, especially young girls, at risk of maternal death, which stands at 576 deaths per 100,000 live births.

He added that 61 per cent of women of reproductive age who had live births within this period received antenatal care from skilled providers.

However, only 36 per cent of them had their deliveries in health facilities and 38 per cent of the deliveries were attended to by

skilled birth assistants, he said.

He explained that the Nigeria Demographic and Health Survey (NDHS) had been conducted regularly with plans to conduct a census during the 2020 round of census.

Bashir, however, bemoaned the major challenge of unavailability of timely information and robust disaggregated data for tracking progress aimed at achieving the 2030 Agenda for Sustainable Development.

“Some of our critical concerns include addressing the needs of over 66 million adolescents and young people, aged 10 to 24 years (half of whom are girls) to gain access to comprehensive Sexual and Reproductive Health information and age appropriate services.

Amnesty Office Debunks Alleged N3.2bn Contract Scam Ndubuisi Francis in Abuja The office of the Special Adviser to the President on Niger Delta and Coordinator, Presidential Amnesty Programme, Prof.

Charles Dokubo, has debunked an online media report of an alleged N3.2 billion contract scandal.

In a statement issued by his media aide, Mr. Murphy Ganagana, the presidential adviser said the attention of the Amnesty Office had been drawn to a report on an online news portal captioned, ’Aisha Buhari, Monguno Named in Dokubo’s Fresh N3.2BN Scandal.’

According to the statement, the fake news carried purported bromide of contract letters awarded to two companies which the publishers alleged were fictitious jobs contracts amounting

to N3.2 billion awarded within a period of one month to two companies allegedly fronting for the PAP Coordinator, Prof.

Charles Dokubo.

According to the statement, the publication further alleged that the two companies, Messrs.

Innotek Royal Services Limited and Glassfa Continental Limited had been paid for the job even when the companies were yet to commence work.

“It garnished its sacrilegious adventure by alluding that the highly revered wife of the President, Mrs. Aisha Buhari, and the National Security Adviser, General Babagana Monguno, were direct or indirect beneficiaries of contract scams at the Amnesty Programme.

“We do not wish to dissipate valuable time and energy in recapping the fallacious report

churned out as ‘expose’ by an online portal which has become notorious as a purveyor of fake news and promoting blackmail to nauseating level.

“To put the records straight, we wish to state as follows: “It is true that a contract for empowerment of 300 Niger Delta youths in oil and gas instrumentation was awarded to Messrs. Glassfa Continental Limited, and another contract for training and empowerment of 400 delegates in coastal fishing was awarded to Innotek Royal Services Limited.

“However, the two contracts in question were beyond the threshold of the Special Adviser to the President and Coordinator, Amnesty Programme. Therefore, in line with statutory guidelines and regulations, a due process no objection was sought and obtained from the Bureau of

Public Procurement (BPP) vides a letter OSAPND/GCL/ VT/2018/11010 dated October 19, 2018.

“Consequently, approval for award of contracts to the two companies was granted by the BPP. Contrary to the allegation that payment had been made to the two companies even though work has not commenced, we wish to state with emphasis that no dime has been paid to any of the two companies.

“It is pertinent to state that processes leading to payment of 15 per cent of contract sum are yet to be completed for the two companies which have not been handed delegates for training. Files of the two companies on the contracts have not reached the Prof.

Dokubo’s table,”the statement said.

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NEWSEXTRA

Kolade Johnson’s Killing: Police Reveal Identities of Arrested Personnel Moghalu seeks comprehensive police reform

Jonathan Eze The Lagos State Police Command has revealed the identities of the alleged killers of Kolade Johnson.

This is coming as a former presidential candidate and Convener, To Build A Nation (TBAN), Prof. Kingsley Moghalu, has called for a comprehensive reform of the police force.

The suspects attached to the Anti-cultism Squad of the police command reportedly shot the victim on Sunday in Mangoro area of the state.

The Commissioner of Police in Lagos State, Zubairu Muazu, disclosed the details of the personnel as Inspector Ogunyemi Olalekan and Sergeant Godwin Orji.

The Force Headquarters also corroborated the account of the police commissioner by posting the images of the erring personnel on Twitter.

According to it, the said shooters have been apprehended and subjected to internal disciplinary procedures.

Johnson was shot two days ago reportedly by police personnel while watching a football match.

A statement from the command yesterday disclosed that the police commissioner revealed the identities of the alleged killers during a visit to the family of the victim.

Muazu who was received by the head of the deceased’s family, Mr. Remi Lukman, condemned the action of the members of the Anti-Cultism team suspected to have carried out the shooting.

He reiterated his commitment in ensuring that justice was done in the matter, noting that the said shooters have since been apprehended and subjected to internal disciplinary procedures.

The police commissioner prayed for the repose of the soul of Johnson and also prayed that God would grant his family, friends and well-wishers the fortitude to bear the irreparable loss.

In his response, Lukman thanked the police

commissioner for the visit and his resolve in ensuring that justice prevails in the case.

He said, “I thought it is going to be a one man’s fight but seeing the Police High Command joining our family in this fight has shown that justice will not only be done to Kolade but to the entire Nigerian youths.

The family head described his late son as a peace-loving person and called on wellwishers to remain calm and

allow the law to take its course.

Reacting to the killing, a former presidential candidate and Convener, To Build A Nation (TBAN), Prof. Kingsley Moghalu, has called for a comprehensive reform of the police force.

In a statement sent to THISDAY yesterday, Moghalu stated that the regularity of “this kind of wrongful killings by the operatives of SARS, compounded by their various unprofessional acts of extortion

and harassments of law-abiding citizens, has led to the agitation to end SARS, captured by the trending #EndSARS. “More than anything else, however, the latest reported killing is a reminder of the need for a comprehensive police reform in the country.”

The former bank chief said such a reform would entail training of Nigeria’s police officers in modern policing as he advocated during his presidential campaign.

He added: “To make our communities safe, we also proposed to recruit additional 1.5 million officers into the Force over four years, adequately train and equip them.

“We call on the authorities to give priority attention to the safety of lives and property in the country. This is the primary responsibility of government and Nigeria is no exception to this.”

Udoma: FG Determined to Improve its Revenues Iyobosa Uwugiaren in Abuja The Minister of Budget and National Planning, Senator Udoma Udo Udoma, yesterday said that the federal government is determined to improve its revenue generation this year and has already taken a number of steps in that direction.

While briefing the House of Representatives Joint Committee on Finance, Appropriation, Planning and Economic Development on the 2019 revenue and expenditure projections as contained in the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) 2019-2021), the minister stated that one of the reasons it could not realise its revenue target for 2018 was that some one-off items listed for implementation in the fiscal year were not actualised.

But he said those items, which include the N710 billion from oil joint venture asset restructuring and N320 billion from revision of the oil Production Sharing Contract Legislation/terms have been rolled over to 2019.

The minister indicated that the federal government will intensify efforts to improve public financial management through the comprehensive implementation of the Treasury Single Account (TSA), the Government Integrated Financial Management Information System (GIFMIS) and the Integrated Payroll and Personnel Information System (IPPIS).

According to him, the Department of Petroleum Resources has been directed to, within three months, complete the collection of past-due oil licence and royalty charges, including those due from Nigerian Petroleum Development Company (NPDC), a subsidiary of NNPC, which it had agreed to pay since

2017.

The minister said the Ministry of Finance, working with all the relevant authorities, has been authorized to take action to liquidate all recovered, unencumbered assets within six months.

He said the President has directed that work should be immediately concluded on the deployment of the National Trade Window and other technologies to enhance customs collections efficiency from the current 64 per cent to up to 90 per cent over the next few years.

He indicated that in spite of the challenges that militated against the realisation of targeted revenues, the revenues generated in 2018 showed a significant improvement over 2017.

He said that he expects further improvement this year with the sustained implementation of the prescriptions of the Economic Recovery and Growth Plan (ERGP).

The minister explained that the ERGP guides allocations in the federal government budget because it sets out the key execution priorities of government for the growth and development of the economy. Government, he added, is encouraged by the results so far attained after implementing the Plan for about two years.

He said the economy has exited from recession and is on the path of growth, even though it takes time for the impact to be fully felt by a significant number of people.

“It takes time, and will take some more efforts but we will keep working on it so as to fully realise the objectives of the ERGP. The implementation of the ERGP will create growth and jobs and reduce poverty,”, he assured.

CELEBRATING JOY OF MOTHERHOOD…

L-R: Organiser, Africa Fashion Week UK/Nigeria, Mrs. Ronke Ademiliyi; Founder, LEARN, Mrs. Abimbola Fashola; former Director-General, Nigeria Tourism Development Corporation, Mrs. Omotayo Omotosho; and CEO, Wealthstrings Consulting, Prof. Bridget Sokan, during the Mother’s Day celebration in Lagos…recently ABIODUN AJALA

AfDB: Insecurity in Nigeria, Mali, Niger Pose Major Economic Risks for W’Africa Ndubuisi Francis The African development Bank (AfDB) has observed that the fragile security conditions in the northern part of Nigeria, Mali and Niger Republic constitute major risks for economic prospects in the West Africa sub-region between 2019 and 2020.

The Bank also noted that although the transition to Monetary Union and the adoption of the Economic Community of West African States (ECOWAS)

Single Currency in 2020 remains laudable, the asymmetries in macroeconomic conditions and differences in economic progress and rates of convergence to macroeconomic targets pose formidable challenges that would make it impossible to be realised.

These revelations were made in Abuja, Tuesday at the launch of the 2019 African Economic Outlook and West Africa Regional Economic Outlook.

According to the report, West Africa’s 15 economies are

diverse across many dimensions of development, adding that in 2018, income capita ranged from $452 in Niger to $3,678 in Cape Verde.

Nine countries reportedly witnessed a growth of at least 5.0 per cent in 2017 and 2018, it said, noting that five have been growing at that rate since 2014-2016.

According to the report, while growth in those countries has been driven by agriculture, the service sector has emerged to complement

agriculture.

It stated that historically, higher prices for the region’s commodities have bolstered growth, pointing out that a sustained recovery in prices, conditioned on strong global demand could improve growth and macroeconomic conditions in the short to medium term.

However, it alluded to major risks for the region’s economic prospects in 2019-2-1- to include the fragile security conditions in Northern Nigeria, Mali and Niger Republic.

Etteh,Tambuwal, Dogara, Others Mourn Amadi Shola Oyeyipo in Abuja A former Speaker and the Governor of Sokoto State, Hon. Aminu Tambuwal; another former Speaker, Hon. Patricia Etteh, and one-time Deputy Speaker and governor-elect of Imo State, Hon. Emeka Ihedioha, yesterday joined the valedictory session at the House of Representatives chamber to honour a late lawmaker, Hon. Bethel Amadi, who passed on

recently at the age of 55.

The House Speaker, Hon. Yakubu Dogara, also announced the adjournment of plenary till next Tuesday in honour of the late lawmaker representing Yauri/Shanga/ Ngaski Federal constituency of Kebbi State, Hon. Mohammed Dantani.

Dantani reportedly died on Friday, March 29, after a brief illness.

Amadi, who represented Mbaitoli/Ikeduru federal constituency of Imo State

on the Peoples Democratic Party (PDP) platform, died in London after a protracted battle with soft tissue cancer.

The late three-term lawmaker was also the immediate-past president of the Pan-African Parliament between 2012 and 2015. He also served as the Chief Whip of the House under Etteh.

The duo of former Speakers Etteh and Tambuwal, paid glowing tributes to the deceased lawmaker, particularly for

his steadfastness, dexterity and forthrightness, saying the late lawmaker was dedicated to his duties.

Ihedioha also described Amadi as a “wonderful personality,” saying he would ensure that the late lawmaker was immortalised by his administration when he assumes office.

On his part, Dogara said Amadi touched many lives and that he worked positively in the interest of Nigeria and Nigerians.

5 ) * 4 % ": t WEDNESDAY, APRIL 3, 2019

52

FCMB GROUP PLC RC: No 1079631

6TH ANNUAL GENERAL MEETING to be held at the Shell Hall, MUSON Centre, Onikan, Lagos on Friday, 26 April, 2019 at 11.00 a.m

NOTICE OF ANNUAL GENERAL MEETING

I/We…………………………………………………. being a member/members of FCMB Group Plc hereby appoint

Notice is hereby given that the 6th Annual General Meeting of FCMB Group Plc (FCMB) will be held at the Shell Hall, MUSON Centre, Onikan Lagos on Friday 26 April, 2019 at 11.00 a.m. to transact the following

* ………………………………………………………………………………………………………………………………………………..

(Please Use Block Capitals)

ORDINARY BUSINESS

Or failing him, the Chairman of the Meeting as my/our proxy to act and vote for me/us and on my/our behalf at the Annual General Meeting of FCMB Group Plc, which will be held at Shell Hall, MUSON Centre, Onikan, Lagos on Friday, 26 April, 2019 at 11.00 a.m or at any adjournment thereof.

To receive and consider the Report of the Directors and the Audited Financial Statements for the year ended 31 December, 2018, the Auditors’ Report thereon and the Audit Committee Report.

Dated this…..…day of…………………………………..2019.

Shareholder's Signature……………………………………...

NOTE:

To declare a Dividend.

(1) A member (shareholder) who is unable to attend the Annual General Meeting is allowed by law to vote by proxy and the above Proxy form has been prepared to enable you exercise your right to vote in case you cannot personally attend the meeting.

To approve the retirement of Directors.

To re - elect Directors that are retiring.

To approve the remuneration of Directors.

To authorise the Directors to fix the remuneration of the Auditors.

.

Dated this 3rd day of April, 2019

(2) Following the normal practice, the Chairman of the meeting has been entered on the form to ensure that someone will be at the meeting to act as your proxy, but if you wish, you may insert in the blank space (marked*) the name of any person, whether a member of the Company or not, who will attend the meeting and vote on your behalf.

(3) Please sign and post the proxy form so as to reach “The Registrar CardinalStone Registrars Limited, 358 Herbert Macaulay, Yaba Lagos, not later than 48 hours before the time appointed for the meeting and ensure that the proxy form is dated, signed and stamped by the Commissioner for Stamp Duties.

(4) If executed by a corporate body, the proxy form should be sealed with the Common Seal or under the hand of an officer or Attorney duly authorised in that behalf.

RESOLUTIONS

Mrs. Olufunmilayo Adedibu Company Secretary FRC/2014/NBA/00000005887

1

To receive and consider the Report of the Directors and the Audited Financial Statements for the year ended 31 December, 2018, the Auditors’ Report thereon and the Audit Committee Report.

NOTES

2

To declare a dividend.

Proxies

3

To approve the retirement of Directors:

Only a member (shareholder) of the Company entitled to attend and vote at the Annual General Meeting is allowed to appoint a proxy in his/her stead. All valid instruments of proxy should be completed, stamped and deposited at the office of the Company’s Registrars: CardinalStone Registrars Limited, 358, Herbert Macaulay Way, Yaba, Lagos, not later than 48 hours before the time fixed for the meeting.

i. ii.

For

Against

Abstain

Dr. Jonathan Long; and Mr. Martin Dirks

To re-elect Directors that are retiring: i. Alhaji Mustapha Damcida ii. Mr. Olusegun Odubogun iii. Mrs. Olapeju Sofowora

Closure of Register The Register of members will be closed from 12 April, 2019 to 18 April, 2019 (both days inclusive).

To approve the remuneration of Directors.

Dividend

To elect members of the Audit Committee.

To authorise the Directors to fix the remuneration of the Auditors.

If the dividend recommended by the Directors is approved by members at the Annual General Meeting, the dividend will be credited on 29 April 2019 to mandated accounts of members so entitled whose names appear in the register of members at the close of business on 11 April, 2019.

BEFORE POSTING THE ABOVE CARD, TEAR OFF THIS PART AND RETAIN IT.

Statutory Audit Committee

FCMB GROUP PLC 6th Annual General Meeting

In accordance with Section 359 (5) of the Companies & Allied Matters Act Cap C20, Laws of the Federation of Nigeria 2004, any shareholder may nominate a shareholder for appointment to the Audit Committee. Such nomination should be in writing and reach the Company Secretary not less than 21 days before the Annual General Meeting.

Rights of Securities Holders to Ask Questions Securities holders have a right to ask questions not only at the meeting, but also in writing prior to the meeting. Any such questions must be submitted to the Company on or before 20 April, 2019

ADMISSION CARD

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53

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Ozekhome Condemns Detention of Ubani, Enai by EFCC Sanction Abuja lawyer, anti-graft agency tells NBA Kingsley Nwezeh in Abuja

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A Senior Advocate of Nigeria (SAN), Mr. Mike Ozekhome, has condemned what he described as the continued illegal detention of an Abuja-based lawyer and former Chairman of Ikeja Branch of Nigerian Bar Association (NBA), Mr. Monday Ubani, and one Hon. Christopher Enai, by the Economic and Financial Crimes Commission (EFCC) without recourse to the rule of law, after a valid court had ordered their release from detention.

This is coming as the anti-graft agency has called on the NBA to sanction Ubani for standing surety to the former Chairperson of the National Social Insurance Trust Fund (NSITF), Ngozi Olojeme.

The senior lawyer said in a statement yesterday that “injustice to one is injustice to all”.

He charged the anti-graft agency to note that no country thrives on illegality and lawlessness, and survive.

According to him, a situation whereby the EFCC would disregard a valid and extant court order and resort to self-help is dangerous to Nigeria’s nascent democracy.

He argued that Ubani and Enai as citizens of Nigeria are protected by the 1999 Constitution.

“They are presumed innocent

until the contrary is proved.

Standing surety for a client who has absconded without the surety’s knowledge is not a crime, but a civil matter. To underscore that this is a civil case, the EFCC has itself filed a motion before the same Justice Oriji, to compel Ubani and Hon Christopher Enai to forfeit the bail bond of N1 billion, they had signed on behalf of their client. The present situation is therefore akin to persecution and not prosecution,” he explained.

Meanwhile, the EFCC yesterday called on the NBA to sanction Ubani for standing surety to the former Chairperson of NSITF, Ngozi Olojeme.

The position of the commission followed a statement issued by NBA, asking the commission to release Ubani or charge him to court.

The NBA had, in a statement, said the commission showed “daring disobedience to the order of court by refusing to release him on bail or charge him to court”.

But in a statement issued last night, the anti-graft agency said it was regrettable that the NBA chose to vilify the commission over a “purported order” that was based on an ex parte motion by Mike Ozekhome (SAN) to Ubani without any objective attempt at reviewing the facts of the case

between EFCC and Ubani.

It said the NBA must be careful not to succumb to the wiles of members whose conduct detract from the lofty ethical standards of the bar.

“Unknown to the bar leadership, there are, at least, three different motions before the court on this matter. The applicants have a pending motion on notice for bail. They also filed a motion ex parte for bail. All the commission is waiting for are dates for the motions to be argued.

“Instead of rebuke, the commission expects the NBA to remonstrate with Monday Ubani for flouting one of the time honoured rules of professional conduct by legal practitioners, which forbids lawyers from standing surety for their clients,” it said.

To substantiate its point, the agency said: “Rule 37(1) of the Rules of Professional Conduct, states: “where a lawyer undertakes the defence of a person accused of a crime, he shall exert himself, by all fair and honourable means, to put before the court all matters that are necessary in the interest of justice, but shall not stand or offer to stand bail for a person for whom he or a person in his law firm is appearing.”

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WEDNESDAY APRIL 3, 2019 ˾ T H I S D AY

NEWSEXTRA

FG Insists on Better Financing of 2019 Budget Shola Oyeyipo in Abuja The federal government has expressed its willingness to ensure a better financing of the N8.83 trillion 2019 budget.

Figures presented yesterday during a public hearing by the House Committee on Medium Term Expenditure Framework (MTEF), which comprises House of Representative Committee on Finance, Appropriation, Aids, Loans and Debt Management, headed by Hon. Babangida Ibrahim, pointed to government’s willingness to increase budget performance.

The Director-General, Budget Office of the Federation, Mr. Ben Akabueze, said having emerged from recession in the second quarter of 2017, Nigeria is expected to continue to experience growth from 0.8 per cent in 2017 to 2.1

per cent in 2018 and 3.01 per cent in 2019.

Ministries, Departments and Agencies (MDAs) present at the hearing all indicated that key assumptions and microframework of the 2019 budget were based on a projection of 2.3 million barrels per day (bpd) oil production, oil price benchmark of $60 per barrel, exchange rate of N305 to a dollar, 9.98 inflation rate, 119,28 trillion nominal consumption, 139.65 trillion nominal GDP and 3.01 per cent GDP growth rate.

The Economic Recovery Growth Plan (ERGP) projection for oil production was put at 2.4 mbpd, oil price benchmark of $50, exchange rate of N305 to a dollar, 13.39 inflation rate, 106, 03 trillion nominal consumption, 126, 36 trillion nominal GDP and 4.5 per cent GDP growth rate.

In his summary of the 2018

performance, Akabueze said: “As at the end of 2018, federal government aggregate revenue was N3.96 trillion, which is 55 per cent of the budget and which is higher than the 2017 revenue.”

The breakdown according to him, was: oil revenue (N2.32 trillion – 77 per cent of budget and 64 per cent higher than 2017); Company Income Tax (CIT) of N637, 25 billion (80 per cent of budget and 1.7 per cent higher than 2017) and Customs collection of N303,91 billion (94 per cent of budget and 16 per cent higher

than 2017.”

He said: “Notwithstanding the softening in the international oil prices in late 2018, the considered opinion view of most reputable oil industry analysts is that the downward trend is not necessarily reflective of the outlook for 2019.

“Currently, the average Brent oil price projection for 2019 by 32 different institutions with relevant expertise is still about $69,” he stated.

Akabueze assured Nigerians that the government will continue its fiscal strategy of directing

resources to most productive and growth-enhancing sectors, while efforts will be intensified to increase revenue, adding that the government will equally leverage private capital to supplement capital allocation from the budget.

“We will closely monitor the situation and will respond to any sustained changes in the international oil price outlook for 2019. Mr. President has directed the Nigerian National Petroleum Corporation (NNPC) to take all possible measures to achieve the targeted oil production of 2.3

million barrels per day.

“The budget proposal seeks to continue the reflationary and consolidation policies of the 2017 and 2018 budgets, respectively, which helped put the economy back on the path of growth,” he noted Also expatiating on the projected tax revenue for the period and the baseline assumptions, the Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, said the tax office was optimistic of performing better than 2018

Japan Releases $1.5m for Community Stabilisation in North-east MichaelOlugbodeinMaiduguri The Government of Japan has released $1.5 million to fund community stabilisation activities in North-east Nigeria.

The fund donated to United Nations Development Programme (UNDP) is to be utilised through an ongoing programme launched in 2016.

A statement made by UNDP yesterday said the interventions being implemented in the region are aimed at supporting victims of Boko Haram insurgency in the three most affected states of Adamawa, Borno and Yobe.

The statement said the fund would build “on ongoing activities that the Government of Japan has been supporting which have facilitated the rehabilitation of 20 public infrastructures and provided emergency employment to more than 2,000 Internally Displaced People (IDPs) and returnees.

“In addition, more than 4,000 farmers and over 1,000 small businesses were supported with inputs and capital that have helped improve and expand their sources of livelihood. The Government of Japan has already invested $6.5 million in North-eastern Nigeria stabilisation activities.”

The statement quoted acting UNDP Resident Representative in Nigeria, Khardiata Lo Ndiaye,

as saying: “The funding from the Government of Japan will be utilised within the framework of Integrated Community Stabilisation Programme which UNDP has been implementing in the region intended to directly benefit 125,000 people in the three states. An additional one million people will indirectly benefit from interventions under the project. Implemented through an integrated approach, the project’s goal is to support over 2,200 farmers, 500 small businesses, five community public infrastructures and provide emergency employment to over 850 community members.

“Stabilisation efforts in Northeast are helping families and communities begin to rely less on humanitarian aid and more on themselves. This support from the Japanese Government will go a long way in laying a foundation for development to take place again in the region.”

She added that meeting urgent early recovery needs of the crisis affected communities remained a huge challenge requiring more partners and investment.

Chargé d’affaires ad interim of Japan to Nigeria, Shigeru Umetsu, was also in the statement quoted to have reassured stakeholders that the Government of Japan would continue to support Nigerian people’s efforts aimed at restoring stability and livelihoods for the communities in in the North-east region.

DSS DG Seeks Collaboration Among Security Agencies Ugo Aliogo The Director-General, Department of State Services (DSS) Yusuf Bichi, has appealed for increased collaboration among security agencies to address the security challenges in the country.

Bichi disclosed this yesterday in Lagos at a lecture with the theme: ‘Effective Inter-Service Collaboration for Enhanced National Security; Retired Personnel Perspective.’

The DSS DG who was represented at the event by the Commandant of the state service academy Lagos, Mr. Joseph Okpo, highlighted ways and strategies of how retired personnel can contribute effectively to national

security.

He also noted that every security agency has the unique capability and operational skills that can complement the other.

Bichi also highlighted the dimensions of inter-service collaboration and overview security challenges in Nigeria.

The intelligence chief further explained the factors militating against inter-service collaboration and proffered solutions based on his experience.

He said: “There is need for greater synergy and collaboration among security agencies. Each agency has a unique capability and operational skills that can complement the other.”

PROMOTING LOCAL CONTENT…

L-R: Senior Manager, Consulting Technology, PWC, Mr. Alfred Yadua; Group Managing Director, Chams Plc, Mr. Femi Williams; National Coordinator, Office for Nigerian Content in ICT, Mr. Kasim Sodangi; Partner, Technology Law, Mr. Inye Kemabonta; Head Application Management, Information Technology Department, CBN, Mr. George Ajufo; and Consultant at Accenture, Mr. Tunde Olajide, during the NITDA and NOTAP roundtable conference on the use of local software in financial sector in Lagos…recently AKINYELE ABAYOMI

NPA to Save FG $1m Annually with Local Training of Pilots Eromosele Abiodun In a bid to conserve foreign exchange, the Nigerian Ports Authority (NPA) has partnered its joint venture partners to build a simulation centre for the training of pilots locally.

Speaking at the inauguration of the simulation centre in Lagos yesterday, the Managing Director of the NPA, Hadiza Bala-Usman, said training of pilots locally would save the federal government over $1 million (N366 million) annually spent in training pilots in the United Kingdom, other Europe countries and the United States

of America.

She added that with the role that technology currently plays in the world, a state-of-the-art simulation centre of this nature is germane because it constitutes a critical success factor in actualising our strategic intent of becoming the leading providers of port services in Africa.

According to her, “It is a centre where pilots are trained on how to maneuver vessels into the water ways. Before now, the NPA and other stakeholders trained there pilots outside Nigeria, and that is why we have set up this facility to attract not just NPA pilots, but pilots across the

country to be trained to have the necessary certification. We are opening it for commercial purpose, and we encourage other maritime operators to train their pilots here.”

On how the facility will advance maritime operation in Nigeria, she said the centre would significantly change the capacity of NPA pilots and increase the number of trained pilots in the authority.

“One of the additional values to this is that the sea time that is required will reduce in view of having this simulator centre available for training. We believe this project is important for the NPA as

it seeks to save the country foreign exchange, improve on local content as we have more of local trainers having such high-tech equipment available to them. So, it is actually a significant milestone for the NPA and the maritime industry.

“We have a maintenance facility in place; we have an agreement whereby all the facilities are maintained, and we are seeking to have international accreditation that will further boost the simulator itself. So we are mindful of maintenance and maintenance culture has been instituted in the maintenance agreement put in place, “she stated.

Magu Cautions Banks against Abuse of Post ‘No Debit’ Order, Whistle-blowing Policy The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, yesterday called on officials in the financial institutions in the country to be wary of “dubious individuals or groups within and outside their establishments”, who abuse both the whistle-blowing policy of the federal government as well as the Post No Debit, PND, Order in the sector.

He said there were strong indications that some banks officials divulge information on high-net-worth accounts to their accomplices, who in turn obtain a purported PND order to fleece unsuspecting customers.

Magu gave the warning during

a meeting with Chief Compliance Officers of Banks in Lagos.

He also lamented that the Post No Debit (PND) order was being abused by certain individuals in connivance with “unscrupulous bank officials” to achieve some set goals.

According to him, “these individuals demand bogus five per cent commission on the isolated high-net-worth accounts of the bank customers, thereby making a mockery of the whistle-blowing policy of the federal government and subversion of ethical practice of the banks, which emphasises confidentiality of their customers.

“We must stop the unfolding

connivance against high-networth accounts in the banks.

Some of these accounts might not necessarily be under investigation.

“They might be inheritance or proceeds from genuine investments.”

Magu further sought the cooperation of the group to sanitise the banking industry, adding that Nigeria’s banking sector ought to be at par with that of developed countries.

In his response, one of the bankers commended Magu for engaging and interfacing with them regularly on various issues affecting the industry.

He assured Magu that

“we would go back and look inward for people who might be involved in such untoward acts of giving out information on their customers’ bank accounts.”

He described the practice of divulging information as a breach of the fundamental principles of the banking industry which must be seriously addressed.

“I want to urge you to always pass any intelligence or information that needs the attention of the banks for us to proactively address it.

“We will continue to partner with the Commission to ensure that the banking industry is sanitised,” he further stated.

55

T H I S D AY ˾ WEDNESDAY, APRIL 3, 2019

WEDNESDAYSPORTS

ÜÙßÚ ÚÙÜÞÝ ÎÓÞÙÜ Duro Ikhazuagbe ×ËÓÖ duro.ikhazuagbe@thisdaylive.com

A I T E O - N F F AWA R D S

Yekini’s Nan si wa ju fun mi Re-echoes as NFF Serenades Eagles’Golden Generation Duro Ikhazuagbe Rashidi Yekini was an enigma of Nigeria football. Almost seven years after the man affectionately called ‘Goals-King’died on May 4, 2012 in Ilorin, his name re-echoed again at the Aiteo-NFF Football Awards that held in Lagos on Monday night.

The former Vitoria de Setubal player in the Portuguese topflight whose name was dreaded like plague by Nigeria’s opponents in the ‘Beautiful Game’ around the continent and beyond, ‘resurrected’in the minds of the football family that witnessed the second edition of the Aiteo-NFF Awards inside the Eko Convention Centre on the Lagos Island.

For the first time since Stephen Okechukwu Keshi led the 1994 Super Eagles, now commonly referred to as the ‘Golden Generation,’to win the AFCON in Tunisia and also qualified Nigeria for her first appearance at the World Cup held in the USA, the Nigeria Football Federation (NFF) led

by Amaju Pinnick, fished out these worthy ambassadors of the country’s football for special recognition.

Sunday Oliseh, the effervescent member of that squad, while reeling out the names of five of their members who have died, recalled the influence Yekini had on the team. He revealed that goal scoring comes to the gangling forward as easy as drinking a glass of water.

Speaking in Yoruba to drive home Yekini’s romance with goal scoring, Oliseh said: “ Really sad we are missing Yekini this night of honour for our 1994 squad. In my role in the midfield, Yekini would always tell me: ‘Sunday, a ni ko sha ti nan siwaju fun mi.’Literarily speaking, he enjoys to get the ball laid on his pathway so that he can take on our opponents’defence. That was trademark Yekini for you,” observed Oliseh whose revelation was greeted with applause by the entire hall that included Yekini’s daughter, Omoyemi.

The night was not all about Yekini but affectionate football followers who remembered the 34 goals the former IICC Shooting Stars forward scored for Super Eagles in 58 appearances were transported beyond the Eko

Convention Centre into the era Nigeria’s senior national team was dreaded due to the quality of players in the team. Flashes of Yekini scoring Nigeria’s first World Cup goal in the 3-0 drubbing of Bulgaria in that debut outing at USA ’94 made the evening beautiful.

Oliseh was not done yet in revealing some of the things that made the 1994 squad handled

by Clemens Westerhof unique.

Pointing in the direction of Okocha, Oliseh also revealed how on several occasions he almost engaged the former Bolton Wanderers star in fisticuff.

“Okocha is an exceptionally gifted player, more talented than some of the biggest names the world is celebrating today. But there were times when we almost fought because he was always holding on to the ball too long,” stressed Oliseh on the dribbling habits of the former midfield maestro. Okocha flashed his trademark toothy smile to the audience.

Of course, physically present and bathed in encomiums Monday night were goalkeepers Peter Rufai and Alloy Agu, defenders Austin Eguavoen, Uche Okechukwu, Benedict Iroha, Nduka Ugbade and Taribo West, midfielders Mutiu Adepoju, Austin Jay Jay Okocha, Sunday Oliseh and Edema Fuludu. Also on the podium to share in the adulation were forwards like: Finidi George, Samson Siasia and Daniel Amokachi.

Apart from Yekini, others who have died like Keshi, goalkeeper Wilfred Agbonavbare, defender Uche Okafor and midfielder Thompson Oliha were also remembered for their labour for their fatherland.

Emmanuel Amuneke, Michael Emenalo, Emeka Ezeugo, Efan Ekoku, Isaac Semitoje and Chidi Nwanu could not make it down to Nigeria for the ceremony.

While a couple of the players present on Monday night did not make the final cut for the World Cup in America, six members of the group went ahead to join the Dream Team and return to America to conquer – by winning Africa’s men’s football gold at the Centennial Olympics in Atlanta two years later.

In other for the labour of these heroes past not to be in vain, Eguavoen begged the NFF to

Super Eagles class of 1994 were honoured at the Aiteo-NFF Awards in Lagos

help some of their colleagues who are yet to get the houses promised them for winning the AFCON ’94.

“Five of our colleagues have died. Yekini, Uche Okafor, Thompson Olihah, Wilfred Agbonnavbare, and Steven Keshi are no more with us.

We don’t want their labour to be in vain. NFF should please help us talk to the right quarter in government to release those houses for our members who are yet to get theirs,” observed the ex international fondly called Cerezo.

Eguavoen insisted that it will be unfair to promise and fail. “ If some of our dead colleagues are yet to get the house before they died, they have children they left behind. Let them get the houses.”

Before the special recognition awards to this ‘Golden Generation,’Super Eagles’ standin captain Ahmed Musa and Super Falcons’ opposite number Onome Ebi took the big gongs as best players of the year 2018 in the male and female categories.

Musa beat both Odion Ighalo and Alex Iwobi to the award.

His second goal in the 2-0 defeat of Iceland at the World Cup in Russia was also adjudged

L-R: Deputy Managing Director of Aiteo Group, Francis Peters, Secretary General of FIFA, Fatma Samoura and NFF President, Amaju Melvin Pinnick at the 2nd Aiteo-NFF Awards at the Eko Convention Centre in Lagos on Monday night

as the Goal of the Year. He was selected ahead of the goals by Ighalo and that of a player from the domestic league.

Villarreal forward in the Spanish LaLiga, Samuel Chukwueze won the Young Player of the Year category while Nasarawa Amazons player, Anam Imo won the female version. Aiteo Federation Cup winning coach, Gbenga Ogunbote was selected as Coach of the Year while Coach Thomas Dennerby who led the Super Falcons to win the 2018 women AFCON in Ghana won the female version.

Akwa United FC won the Fair Play Award while Kano Pillars Supporters Club won the best supporters of 2018.

President of the Nigeria Football Federation and First Vice President of CAF, Amaju Melvin Pinnick, once more eulogized

the present administration of President Muhammadu Buhari for providing the conducive environment for football to thrive and for total support for the NFF and the various National Teams, while calling on Nigeria’s other billionaires and well –heeled companies to emulate Aiteo Group and boost the development of football in Nigeria.

Aiteo, Nigeria’s leading energy solutions company also stands erect as Official Optimum Partner of the NFF and sponsors of the Federation Cup. It also bankrolls the annual African Football Awards organized by CAF. Its team on Monday night was led by Deputy Managing Director, Mr. Francis Peters and included the Executive Director, Mr. Andrew Onyearu.

Business mogul and politician, Chief M. K. O.

Abiola was honoured with the NFF Presidential Award, while Governor Akinwunmi Ambode of Lagos received the Lifetime Achievement Award for his hefty support for football projects and programmes of the National Teams.

Secretary-General of FIFA, Ms Fatma Samoura (the first African/first woman to occupy the position) was honoured with the NFF Order of Merit Award, as Presidents of 18 Member Associations of FIFA, the Abia State Governor (Chief Okezie Ikpeazu), the Acting Governor of Edo State (Comrade Philip Shaibu), two Governors-elect (Babajide Sanwo-Olu of Lagos State and Abdulrazak Abdulrahman of Kwara State) and captains of industry, political juggernauts, A-class artistes and heavyweight stakeholders of the game watched at the event.

Youth Devt Stimulates Aiteo’s Sponsorship of Nigeria Football Indigenous energy conglomerate and Official Optimum Partner of the Nigerian Football Federation, Aiteo Group, reaffirmed its pledge to youth capacity development in Nigeria and across the African continent through its sponsorship of football at the second edition of the annual Aiteo-NFF Awards in Lagos.

In a keynote speech by the Executive Vice Chairman of the Group, Benedict Peters, Aiteo reiterated that positively influencing the youthful population of Nigeria informed its decision to venture into football sponsorship.

According to Peters: ‘‘First, we believe a deep commitment to encouraging and empowering Nigeria – and Africa’s youth population through the compellingly attractive medium of sport. Second, it is indisputable that the availability of sporting talent remains one of Nigeria’s most assured resources. Nigeria possesses these resources not

only in abundance but in quantities capable of supporting global domination,’’ “Third, Aiteo itself is on a journey to help Africa capture the energy within and the most assured vehicle through which this can be done is to harness the youths who continue to represent the driving force of our continent.

Fourth, our near-obsessive love for football in Nigeria brings us closer, blurs lines of ethnic divides and douses major forms of people-differences,’’ he added.

Legends of the national team also highlighted the positive changes in the Nigerian football scene since the inception of the partnership between Aiteo and the NFF. Former winger and African Cup of Nations winner, Segun Odegbami commended Aiteo for investing in Nigerian football.

According to Odegbami: “It is fantastic, it is great. The company is rewarding the Super Eagles and promoting

football, so it is a positive thing.”

Former Super Eagles and Inter Milan FC defender, Taribo West urged the company to continue its partnership with the NFF. “It is wonderful and progressive. We pray that they will not stop here but do more for football in Nigeria,” he said.

Aiteo signed a N2.5billion sponsorship agreement with the NFF in 2017 which directly catered to the payment of salaries to coaches of the football teams and the clearing of outstanding debts to erstwhile coaches. The company subsequently took up sponsorship of the oldest indigenous football competition, The Federation Cup, thereby renaming it ‘’Aiteo Cup.’’ As part of its sponsorship, the company increased the prize money from N2million and N1million to N25million and N10million for the male and female winners respectively while the runners-up receive N10million and N5million.

Wednesday April 3, 2019

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MISSILE

CAN to APC â&#x20AC;&#x153;Today, both the president and the acting CJN are Muslims and our appeal is to let either the Senate President or Speaker be a Christian to address the religious dichotomy. This will give all Nigerians a sense of belonging irrespective of their religious aďŹ&#x192;liationsâ&#x20AC;? â&#x20AC;&#x201C; The Christian Association of Nigeria urging the leadership of the All Progressives Congress to ensure that religious balance is reďŹ&#x201A;ected in the leadership of the two chambers National Assembly.

KINGSLEYMOGHALU GUEST COLUMNIST

Reflections on the 2019 Elections I ran for the Office of the President of Nigeria in the 2019 elections, campaigning across 30 states of the country in a grueling 12-month marathon of road trips and commercial flights, market visits (with lots of dancing in the public square!), road caravans and town halls, and issue-based messaging across various media platforms. Like several other â&#x20AC;&#x153;alternativeâ&#x20AC;? candidates, I lost the election at the ballot box. But we won an important victory: we have changed the political narrative. By challenging the status quo, presenting an alternative vision for our country and bringing hope to many citizens who had lost it, we have begun an important, necessary journey towards our national redemption. Rome was not built in a day. In running (to win, not that â&#x20AC;&#x153;I also ranâ&#x20AC;?) for president I took a bold, calculated risk, sacrificing safety, personal resources and income streams, and quality family life because I was fed up with the failure of governance and economic management in our country. Rising poverty, unemployment and instability remain our agonizing reality.

Personal success is increasingly meaningless in such an existential mess.

The 2019 elections were in many locations akin to war. Soldiers, who should defend us from external aggression, were actively and aggressively involved in domestic â&#x20AC;&#x153;special dutiesâ&#x20AC;?. The process was marred by an orgy of vote-buying, rigging, vote-suppression and violence, all superintended by the chaotic operations of the Independent National Electoral Commission (INEC). Voting at my polling unit in Nnewi North LGA, my home town, opened three hours late as a result of card reader malfunction. At some point the card readers failed again. Voting went on manually, against INEC regulations.

I observed that there was no privacy for the ballot boxes, so anyone milling around behind a voter could potentially see his or her voting choices. The â&#x20AC;&#x153;businessâ&#x20AC;? of vote-buying proceeded merrily apace in a corner of the voting premises. From several states around the country we received credible reports that votes cast for the Young Progressives Party (YPP), my party platform for the 2019 elections, were being diverted.

Much of this was not surprising. But the elections have left me wondering if Nigeria is truly a democracy. Or do we merely have a four-yearly ritual in which political cabals renew their hold on power by using a form but not the substance of democracy? As the character Archie said in the British playwright Tom Stoppardâ&#x20AC;&#x2122;s play â&#x20AC;&#x153;Jumpersâ&#x20AC;?, â&#x20AC;&#x153;itâ&#x20AC;&#x2122;s not the voting that is democracy, itâ&#x20AC;&#x2122;s the countingâ&#x20AC;?.

We must overhaul our electoral laws and procedures, including institutional reform of INEC by reviewing the legal framework for the electoral umpire. INEC must enable and prepare for our citizens who live abroad to be able to vote overseas in 2023. Nigerians in Diaspora remitted $25 billion home in 2018, not far behind crude oil, our god of small things, and

INEC Chairman, Prof. Mahmood Yakubu

yet they canâ&#x20AC;&#x2122;t vote abroad. How so? If we donâ&#x20AC;&#x2122;t reform our voting procedures as an urgent matter, we are not serious. Our votes must be counted and must count.

Democracy is rarely perfect anywhere, but in Nigeria itâ&#x20AC;&#x2122;s in a crisis, and it will die if something is not done quickly.

The best path forward is to utilise technology and move to e-voting. We achieved this kind of game-changing reform in our financial and payment systems at the Lamido Sanusi-led Central Bank of Nigeria between 2009 and 2014, when I headed the Financial System Stability and Operations directorates that implemented several of these reforms. Today, every Nigerian can transact banking business and make payments much faster, efficiently and transparently using several platforms like ATMs, online or telephone banking, PoS machines, and the Bank Verification Number (BVN). We achieved these milestones because we were focused, operationally independent from political interference, and had the political will to improve the economy with a modern financial and payments system that is ahead of those of many developed countries.

We can adapt these technologies for the voting process, plugging many loopholes for electoral fraud in the present system that is largely manual and antiquated. Yes, there are risks with electronic voting and collation, but they can be managed with effective risk management. In any case those risks are small beer compared to what happened in the 2019 elections.

The political outcome of the polls, reflected in the continuing electoral dominance of the APC and PDP, points to the mindset of our society at this time. Timing and a severe lack of political education in our populace played key roles in 2019.

Millions of Nigerians heard my message.

Many claimed they loved the message and the messenger. But for sentimental reasons millions, including many of my sympathisers and initial supporters voted for the incumbent, President Muhammadu Buhari and the PDPâ&#x20AC;&#x2122;s Atiku Abubakar. PMB voters wanted him to get a second term in office. Those opposed to him voted mainly for Atiku, â&#x20AC;&#x153;atikulatingâ&#x20AC;? the view that the

Waziri Adamawa was the only one who could take down the incumbent president.

So, between the timing of our 2019 run and cynical voter calculations about the ability to win, vision, capacity and policy prescriptions for real progress took second place. Money, of course, also was an issue.

I firmly refused to engage in vote-buying, which was perhaps the most insidious plague of the elections. For me though, none of these calculations diminishes the value, validity or impact of my 2019 candidacy.

If the poor succumbed to the weaponisation of their status by politicians, our educated middle class and elite are just as culpable of a warped mindset. These are the men and women who ought to lead a change in voting behaviour. But no. Cynical of the possibilities for real change, they band with the status quo politicians in order to secure economic opportunities in a rentier economy. The reluctance of the middle class to play a positive role towards a paradigm shift is a huge lost opportunity for our democracy.

As for the youth, they made much noise on the overrated social media but did not vote in their numbers in 2019.

Many young people also succumbed to the ability-to-win argument, leading the charge for the old establishment candidates.

Some were discouraged by the failure of the new generation alternatives to produce a consensus candidate in a coalition. Thatâ&#x20AC;&#x2122;s a lame excuse. Coalitions are not formed by force or at gunpoint. Only candidates truly willing to form a coalition (which is very different from â&#x20AC;&#x153;formingâ&#x20AC;? the desire for one) can do so. Behaving as if anyone owed them a coalition or consensus candidate was therefore a cop-out from having to make an informed democratic choice. They should instead have voted for the â&#x20AC;&#x153;youthâ&#x20AC;? candidate of their choice.

I certainly had hoped that a coalition of younger, vibrant candidates could come together. But many shenanigans got in the way. The most important but less obvious reason it didnâ&#x20AC;&#x2122;t happen was that many so-called alternatives were in fact agents and puppets of the status quo establishment politicians and therefore were not truly independent candidates. Subsequent and recent events in the elections and the run-up to them have pointed to this truth. The puppet masters, who viewed my candidacy as a potentially serious one and were somewhat nervous about it particularly because of the question of its timing, encouraged several of these youth candidates to remain in the race and so divide the youth vote. As it turned out, the youth themselves did not vote in their millions for our candidacies, let alone dealing with the matter of â&#x20AC;&#x153;divided votesâ&#x20AC;?.

Despite pressures, I declined to step down for the presidential candidates of either the PDP or the APC and have no regrets for that decision. I was running on a vision for our countryâ&#x20AC;&#x2122;s future and not for opportunism. There simply was no question in my mind of abandoning my

followers mid-stream and cutting a deal for myself. I became the only presidential candidate targeted by a covert fake news campaign on social media by BOTH PDP and APC in the last days of the campaign.

The fake news, vigorously distributed to millions of voters in both the northern and southern parts of the country by Whatsapp and other means, claimed that I had â&#x20AC;&#x153;finallyâ&#x20AC;? agreed to step down for either President Buhari or Atiku Abubakar.

My campaign vigorously rebutted these false propaganda, but as it was already very late in the game, many voters were swayed by these tricks.

Looking back, there were four high points for me in our campaign for the presidency.

First, we set the pace. We launched the campaign in February 2018 in Abuja, where I was joined on the stage by my wife and children as I concluded my announcement speech. This was a departure from the norm, as was my precedent-setting choice months later of a woman as my vice-presidential running mate, and setting out my vision in a book, â&#x20AC;&#x153;Build, Innovate and Grow (BIG)â&#x20AC;? with ideas that were subsequently plagiarised by several other candidates!

Second, it was energising to have met with ordinary Nigerians like market men and women, widows and students around the country, and to have been received so very warmly in the North, South, East and West.

A third high point was the official presidential debate. This debate was viewed and heard by an estimated 60 million Nigerians, and turned out a great opportunity to have shared my vision and policy stances with so many compatriots at the same time. Finally, the endorsements and support I received from a number of individuals and groups who courageously went on the public record with their views, was deeply encouraging. I have in mind the endorsements from the Nobel Laureate Professor Wole Soyinka and his Citizens Forum group, His Royal Majesty Oba Enitan Ogunwusi, the Ooni of Ife, the Christian Social Movement of Nigeria led

by Solomon Asemota SAN, the Southern and Middle Belt Youth Forum, and the newspaper columnist Femi Aribisala.

I am glad I stood up in 2019 to be counted for Nigeria. â&#x20AC;&#x153;Do not despise these small beginningsâ&#x20AC;?, the Good Book says, â&#x20AC;&#x153;for the Lord rejoices to see the work begin, to see the plumb line in Zerubbabelâ&#x20AC;&#x2122;s handâ&#x20AC;?. At least I can say to my children: â&#x20AC;&#x153;I did something to make the future of your generation a better oneâ&#x20AC;?. I may not be a direct beneficiary of this struggle. It doesnâ&#x20AC;&#x2122;t matter. To everyone who voted for my candidacy or otherwise supported me I say: Thank you. Daalu. Na gode. Ese gan.

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