MONDAY 29TH APRIL 2019 by THISDAY Newspapers Ltd

Two Years After, CBN, Analysts Count Gains of I & E Window Obinna Chima Exactly two years after the Nigerian Autonomous Foreign Exchange Fixing Mechanism (NAFEX), commonly known as the Investors’ &Exporters’ (I&E) window was introduced by the Central Bank of Nigeria

(CBN), operators and the central bank have continued to hail the initiative. The central bank had introduced the forex window as well as a raft of other measures to improve dollar liquidity on April 27, 2017, when the country faced a

severe forex crisis. The central bank had explained that the purpose of the window was to boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions. The cumulative transactions

on the I&E window since the central bank created the market 24 months ago was put at $50 billion as at the end of March 2019. The surge in inflows was attributed to offshore investors’ interest in Nigeria’s fixed income securities.

The apex bank had listed eligible transactions under the new window to include invisible transactions such as loan repayments, loan interest payments, dividends/ income remittances, capital repatriation, management service and consultancy fees.

Also, on the eligible list were software subscription fees, technology transfer agreements, personal home remittances and any such other eligible transactions, including ‘miscellaneous Continued on page 8

Power Generation Rises by 349MW after Gas Supply Disruption... Page 9 Monday 29 April, 2019 Vol 24. No 8785. Price: N250

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Race for Senate Presidency Intensiﬁes, Lawan Resolves to Meet Ndume, Goje To checkmate PDP’s plan to determine Senate leadership Deji Elumoye in Abuja As the race for the presidency of the ninth Senate intensifies, the Senator Ahmad Lawan for ninth Senate President Group has resolved to meet with two other ranking senators, Ali Ndume and Danjuma Goje, over the need for them to work together. The plan, according to THISDAY sources in the group,

is to checkmate moves by the opposing Peoples Democratic Party (PDP) to determine the leadership of the Senate that is billed for inauguration in June. The PDP with 43 senators, according to THISDAY sources, plans to vote en bloc and is using its strategic number to negotiate with Goje and Continued on page 8

INEC, PDP Bicker over Compliance with A’Court Order

Adedayo Akinwale in Abuja

The Independent National Electoral Commission (INEC) and the Peoples Democratic Party (PDP) yesterday disagreed over the implementation of the Court of Appeal order that the electoral body should grant the main opposition party access to materials used during the presidential elections held on February 23, 2019. While INEC told THISDAY

that it had complied, PDP insisted that the commission had not obeyed the order of the appellate court. INEC had declared President Muhammadu Buhari of the All Progressives Congress (APC) winner of the presidential election, having polled 15,191,847 votes, while the presidential candidate of the PDP, Alhaji Atiku Abubakar came second with 11,262,978 Continued on page 8

Again, FG, ASUU Fight over IPPIS... Page 8

REPORTING A BOUNTIFUL YEAR... L-R: Deputy Managing Director, Fidelity Bank Plc, Mr. Mohammed Balarabe; Chairman, Board of Directors, Mr. Ernest Ebi; Managing Director/ Chief Executive Oﬃcer, Mr. Nnamdi Okonkwo, at the 31st Annual General Meeting of the bank in Lagos… Friday

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Again, FG, ASUU Fight over IPPIS Kemi Olaitan in Ibadan The peace in Nigeria’s public universities may be shattered soon as the Academic Staff Union of Universities (ASUU) has rejected a move by the federal government to use the 2019 personnel verification exercise to incorporate lecturers into the Integrated Personnel Payroll Information System (IPPIS), THISDAY has learnt. ASUU’s position, it was gathered, is that its members were employed by their respective governing councils, and not centrally by the federal government, stressing that it is strange to the world university system for their salaries to be paid from Abuja. The union has, therefore, directed its members not to fill the 2019 Personnel

Data Verification form being distributed by the Budget Office of the Federation. The President of the union, Prof. Biodun Ogunyemi, in a letter written to chapter chairmen of the union, a copy of which was made available to journalists in Ibadan yesterday by the Chairman, University of Ibadan chapter, Prof. Deji Omole, directed members not to fill the personnel verification form, describing the verification form as dubious. According to him, while the union is not against any verification exercise, the form of the exercise being distributed requires the supply of “IPPIS number” implying a dubious trap to forcefully migrate the union members into the IPPIS. He said, “The attention of the leadership of the ASUU has been

drawn to a circular from the budget office of the federation directing members of our union to participate in a Personnel Verification Exercise designed for selected Ministries, Departments and Agencies. An item on the FORM requires the supply of “IPPIS no.” This suggests that the so-called exercise is a disguised way of bringing back the Integrated Payroll and Personnel Information System (IPPIS) which our union rejected in the past with informed arguments. "All chairpersons are advised against falling into the trap of forceful migration to the IPPIS. All chairpersons are strongly advised to discourage their members from completing the FORM under reference until the union review its position on the IPPIS.”

Omole said the current IPPIS programme does not accommodate the peculiarities of the job of university lecturers, noting that while government has promised to revisit the design of the IPPIS, it has refused to do anything since the union made its position known in 2014. According to Omole, "The current state of IPPIS cannot accommodate the peculiarities of our job as scholar. Members should equally recall that the union has been engaging the federal government with a view to making relevant authorities to appreciate the implications and position of ASUU on the matter since 2014. Pending the resolution of the matter, evidence of which shall be communicated to all members, no member of the union is allowed to enlist

in the IPPIS." The issue of IPPIS first came up in February 2014, barely two months after ASUU called off its nearly six-month strike when the union directed its members not to fill IPPIS forms, being distributed then by the National Universities Commission (NUC). The union had also warned the federal government that it might lead to an industrial action. The NUC had given out the forms for the new method of payment. However, the directive not to fill the forms was given by the University of Ibadan branch of ASUU, which had claimed that the method of payment had been roundly condemned in the health sector after noticeable flaws in the system. The lecturers had cautioned the NUC not to distract them,

as they were trying to cover lost grounds occasioned by the six-month strike, insisting that the method of payment negated the principle of university autonomy agreed upon since 1992. ASUU had argued that its position on IPPIS had not changed, adding that the integrated payment system did not take into consideration the peculiarity of the work of academic staff, and it negates the principle of autonomy, which ASUU won since 1992. “IPPIS negates the principle of university autonomy that ASUU fought for. We are employed by our respective governing councils, and not centrally by NUC. For salaries to be paid from Abuja is strange to the world university system, apart from the dangers inherent in it,” ASUU reportedly said.

to checkmate the imposition of Lawan on the senators-elect and already Ndume and Goje are talking along this line with other senators-elect of like minds.” Also yesterday, the North-east zone of the APC Youth wing has asked the party's national chairman not to destroy the party. The youth in a statement by their Secretary, Mr. Abubakar Maigari, likened the APC under Oshiomhole to a truck under the control of a drunken driver cascading down the hill without brake. They said the last straw that will break the ruling party’s camel’s back is Oshiomhole’s desperation to impose leaders on the ninth National Assembly. The party youth pointed out that the threat by Oshiomhole and former Lagos State

Governor, Senator Bola Tinubu, to send away members of the National Assembly, who oppose the imposition agenda is appalling. According to the youth, it is irreconcilable that the same Tinubu, who orchestrated the removal of the APC leadership winning team led by Chief John Odigie-Oyegun and hoisted Oshiomhole on the party, is Oshiomhole’s alter-ego and partner to destruction of the party. "Several members of the ruling party have been lost to the opposition since Oshiomhole became APC national chairman on June 23, 2018, yet the looming ninth National Assembly leadership election crisis may threaten the corporate existence of the ruling party,” the group said.

CBN; people should be free to bring in foreign exchange into the country and take them out at will, but that the CBN, in line with the foreign exchange management policy, can only come in at some points to intervene, either by supplying dollars into the market or buying dollar from the market to keep the price at the level that we think is within acceptable thresholds.” Emefiele stressed that the Nigerian economy is open to business and investors. According to him, “We will continue to work tirelessly

to boost the economy of the country. Notwithstanding the impact of the recession, Nigeria’s economy still remains the biggest in Africa. By the size of our Gross Domestic Product with a very well diversified economy across different sectors such as manufacturing, the central bank and the federal government are open to foreign investors. “Investors should be assured that their investments in Nigeria will be duly protected by the authorities as they also have various advantages they can provide for our economy, human capital and technological

know-how. The Deputy Governor, Economic Policy, CBN, Dr. Joseph Nnanna, had described the window as a mighty success, saying it has performed beyond expectations. On his part, the chief executive, Financial Derivatives Company Limited, Mr. Bismark Rewane, noted that the creation of the window was a good move, saying it has helped in attracting more investors and led the country closer to a perfect market. To the Managing Director, Afrinvest West Africa Plc, Mr. Ike Chioke, the window has won the confidence of foreign investors.

therefore, lying. It is as simple as that." Among the materials, which he said had been inspected but yet to be allowed to take possession of their certified version, includes the form EC8D, which are the results collated from the states and form EC40G, which are papers showing cancelled results. "The central server itself, they have not allowed them access to it. So, how can they say they have cooperated? It is not true. All the ballot papers used, all the things requested for, which the Court of Appeal granted an order for them to inspect and use, they have not allowed them. They have not carried out the Court of Appeal's order," Ozekhome insisted. The Court of Appeal in Abuja had on March 6 ordered INEC to allow Atiku and his party to inspect and obtain Certified True Copy (CTC) of election materials it used in the conduct of the presidential election. The court in its ruling on an

ex parte filed by the former Vice President and the PDP also ordered INEC to make available all documents and electoral materials used for the election for the purpose of the inspection. In the unanimous ruling delivered by Justice Abdul Aboki, the appellate court held that it is in the interest of justice for Atiku and the PDP to be given access to inspect materials used by INEC in the conduct of the presidential election. However, request by Atiku and the PDP to carry out forensic audit on materials and polling documents was declined by the court. Justice Aboki, in the ruling had held that the applicants’ prayers for scanning and forensic analysis of the election materials run contrary to the provision of section 151 of the Electoral Act. The court also refused to direct INEC to make available all polling documents for forensic analysis as requested by the applicants.

RACE FOR SENATE PRESIDENCY INTENSIFIES, LAWAN RESOLVES TO MEET NDUME, GOJE Ndume. Apart from bidding for Deputy Senate President, the main opposition party is also negotiating for the chairmanship of strategic committees of the Senate. With a division in the ranks of the All Progressives Congress (APC) senators-elect, the coast appears clear for the PDP to have its way with its 43 seats in the upper legislative chamber. To prevent this eventuality, the camp of the official candidate of the APC, Lawan, is making intensive efforts to achieve consensus, necessitating conversations with Goje and Ndume. Ndume, former Senate leader, who chairs the Senate Committee on Establishment, had last month made public his intention to vie for

Senate president when the ninth National Assembly is inaugurated in June, while Goje, who is the Chairman of the Senate Committee on Appropriation, has not made public his intention but is discreetly working towards realising his ambition. Sources close to Lawan, who is the Senate leader, with 20 years federal legislative experience, told Thisday yesterday that arrangements were afoot for Lawan to meet with his two rivals over the Senate presidency of the ninth National Assembly. One of the sources, who is an APC senator-elect from the North-west, stated that with the completion of the one on one consultation with all senators-elect across party divides, the Lawan for Senate

President Group believed it was high time their principal met with the other two gladiators. He said Lawan, who had met personally with all senators-elect from all the six geo-political zones in the last one month to seek their individual support and why he remains the best candidate for the job, also thought it necessary to engage the other contestants. "So on our part, we have agreed that Senator Lawan should meet with both Ndume and Goje and tell them about his mission and vision for the ninth Senate and by extension seek their support for the major task ahead," the lawmaker said. Another APC senator-elect from the South-west told Thisday that the meeting between Lawan and the two other aspirants will hold in

Abuja in a matter of days. The ranking senator added that the Lawan group is already reaching out to the two other aspirants "and once we have a clear picture the three of them will meet with a view to charting a new cause for the ninth Senate due for inauguration in less than six weeks." Meanwhile, there are indications that both Ndume and Goje may form a common front to challenge the ambition of Lawan. Sources close to the two senators told Thisday at the weekend that the duo have been meeting on the need to form a coalition against the adoption of Lawan by the APC leadership led by its National Chairman, Mr. Adams Oshiomhole. According to the source, "The plan is to have a formidable force

TWO YEARS AFTER, CBN, ANALYSTS COUNT GAINS OF I & E WINDOW payments’ as detailed under Memorandum 15 of the CBN Foreign Exchange Manual. While explaining that the invisible transactions under this window excludes international airlines ticket sales’ remittances, the CBN had added that the window covers Bills of Collection and any other trade-related payment obligations, which are at the instance of the customer. It is worthy of note that supply of forex to the window is through portfolio investors, exporters, authorised dealers and other parties with forex exchange to naira.

The CBN has been a market participant at the window to promote liquidity and professional market conduct. Nigeria’s forex reserves stood at $43.170 billion as of last Friday, representing a marginal increase by $95 million, compared with the $43.075 million it was at the beginning of the year. CBN Governor, Mr. Godwin Emefiele, a fortnight ago, while speaking at the recently held IMF/World Bank Spring Meetings in Washington DC, said the central bank took a number of policies to help to boost the supply of foreign

exchange into the country during the forex crisis, describing the establishment of the I & E window as the most potent. He said: “That window was introduced in April 2017 and it was a strategy to further liberalise the market. It was designed to increase transparency in the market because the market players at that time, particularly our friends-investor community – who had a lot of doubts about the level of transparency in the market. “And we felt there is the need to establish a market where you will not find the hand of the

INEC, PDP BICKER OVER COMPLIANCE WITH A’COURT ORDER votes. But, dissatisfied with the outcome, Atiku approached the tribunal claiming he garnered a total of 18,356,732 votes to defeat Buhari, who, according to him, polled 16,741,430 votes. He insisted the result from INEC server showed that he defeated Buhari in the presidential election. However, last week, Atiku’s legal team decried alleged INEC’s refusal to grant them access to the materials, which had been inspected and paid for in the previous week. A member of the team, Mr. Silas Onu, explained that efforts to meet with INEC’s legal team had become an uphill task, but insisted that they would continue to follow up until the commission complies with the court order. He warned that they might be forced to file for contempt against the INEC Chairman, Prof. Mahmood Yakubu, and other officers of the commission if they do not give a positive response soon.

But responding to THISDAY enquiry yesterday, The Chief Press Secretary to INEC chairman, Mr. Rotimi Oyekanmi, said the petitioner lied that the commission had not complied with the court order. Oyekanmi, who declined to comment further on the matter since it was before the court, said that the order had been complied with as far as the commission was concerned. According to him, “The Independent National Electoral Commission has complied with the orders of the Presidential Election Tribunal as far as the petition of the petitioner is concerned. It is, therefore, not true as the petitioner has alleged, that the commission has not complied. And since this is a subject of litigation, I will not comment more on the matter.” Speaking with THISDAY last night, however, a lawyer in the legal team of Atiku, Chief Ozekhome SAN, insisted that INEC was yet to comply with the order of the Court of Appeal.

According to the senior lawyer, INEC only allowed them to inspect some of the materials requested for as ordered by the Court of Appeal but refused to allow them take possession of the documents inspected. He also stated that the commission has continued to deny them access to inspect its central server. Ozekhome said: "That is a lie. As at last week our lawyers were still going there to get the physical retrieval of the documents already paid for in terms of their certification. "After inspecting the documents, INEC did not allow them to take possession of the documents. They have carried out inspection although not all, they have not allowed them to inspect the central server but they did allow them to inspect some materials. "But even those materials that they allowed them to inspect, they have not allowed them to take physical possession of the certified version. So, they are,

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NEWS

Power Generation Rises by 349MW after Gas Supply Disruption Chineme Okafor in Abuja The total amount of electricity that was available for distribution across Nigeria at the weekend was up by 349.97 megawatts (MW) after the drop in power generation caused by the disruption of gas supply to the power plants, records from the Office of the Vice President, Prof. Yemi Osinbajo, have shown. The report from the Advisory Power Team in Osinbajo's office said that on April 27, 2019, the average energy sent out was 3,937MW, representing an

increase of 349.97MW from the supply recorded on the previous day. According to the report, on April 26, 2019, average energy sent out was 3,587MW, down by 343.02MW. The drop in power generation followed a disclosure last Friday by the Transmission Company of Nigeria (TCN) that four power generation companies (Gencos) were unable to generate electricity to the national grid due to gas supply challenges. The TCN had said in a statement from its General

Manager, Public Affairs, Mrs. Ndidi Mbah, that the national grid was experiencing reduced power generation due mainly to emergency maintenance by the Nigerian Gas Company (NGC) of its gas pipeline supplying gas to Egbin, Omotosho, Olorunsogo and Paras Power Stations. It explained that this was reportedly caused by leakage discovered on the Escravos-Lagos Pipeline System, necessitating the total shutdown of the four power generating plants on April 25, 2019.

However, on Saturday, records showed that 2,382.50MW of electricity was not generated due to unavailability of gas, while 227.5MW was not generated due to unavailability of transmission infrastructure. Also on that day, 849MW was not generated due to high frequency resulting from unavailability of distribution infrastructure. The power sector, it stated lost an estimated N1.660 billion on April 27, 2019 due to insufficient gas supply, distribution infrastructure and

transmission infrastructure. Similarly, 2,602.50MW of power was not generated due to unavailability of gas on April 26, 2019, while 227.5MW was not generated due to unavailability of transmission infrastructure. Another 1,238MW was not generated due to high frequency resulting from unavailability of distribution infrastructure, with the sector losing an estimated N1.953 billion on that day due to insufficient gas supply, distribution infrastructure and transmission infrastructure.

Minister of Power, Works and Housing, Babatunde Fashola

Kano, Lagos, Rivers, Two Others Lead in Unemployed Population, Report Reveals Lagos creates 740,146 jobs in 12 months James Emejo in Abuja and Esther Oluku in Lagos Rivers, Akwa Ibom, Kano, Lagos and Kaduna States have the highest unemployed population in the country, according to the National Bureau of Statistics (NBS). NBS however, revealed that a total of 740,146 jobs were created in Lagos State between July 2017 and June 2018, representing the highest in the country during the period under review. The report showed that with Rivers State’s unemployed population at 1,673,991, Akwa Ibom 1,357,754, Kano at 1,257,130, Lagos at 1,088,352 and Kaduna at 940,480, the five states top the unemployed population chart.

According to the Labour Force Statistics - Volume 2: Unemployment and Underemployment by State (Q3, 2018), which was released by the statistical agency over the weekend, among the five leading states with the unemployed population, Lagos State reported the lowest rate of 14.6 per cent during the reference quarter. Also, Akwa Ibom State reported the highest unemployment rate 37.7 per cent , followed by Rivers 36.4 per cent, Bayelsa 32.6 per cent, Abia 31.6 per cent and Borno 31.4 per cent. The report further showed that Katsina, Jigawa, Kaduna, and Yobe States recorded the highest underemployment rates of 39.5 per cent , 38.1 per cent , 31.0 per cent and

30.0 per cent, respectively. The national unemployment rate for the quarter, which was released earlier stood at 23.1 per cent , while the underemployment rate was 20.1 per cent. According to the NBS, between Q3 2017 and Q3 2018, only nine states, including Akwa Ibom, Enugu, Imo, Kaduna, Kogi, Lagos, Nasarawa, Ondo and Rivers recorded a reduction in their unemployment rates despite an increase in the national unemployment rate. Also, the same states recorded reduction in their combined unemployment and underemployment rates. It stated further that six states recorded the highest gains in net full time employment between Q3 2017

and Q2 2018 - Lagos, adding 740,146 net full time jobs, Rivers 235,438, Imo 197,147, Ondo 142,514, Enugu 122,333 and Kaduna 118,929. Commenting on the report, the Statistician General/ Chief Executive of NBS, Dr. Yemi Kale noted that states with higher focus on seasonal agriculture tend to have higher rates of underemployment compared to unemployment. “This may swing from high full-time employment during periods of planting and harvest, when they are fully engaged on their farms, to periods of high underemployment and even unemployment at other periods in between.” “States with a higher propensity for women to

be housewives or stayhome husbands or that have negative attitudes to working tend to have lower unemployment rates, as they are not considered part of the labour force in the first place, and as such have no bearing on the rate of unemployment. You have to be within the labour force to be employed, underemployed and unemployed and you are not part of the labour force if you are not looking for work even if you don’t work.” Explaining further, Kale said: “Such States tend to have a higher proportion of their economically active populations (those aged 15-64) outside the labour force, thereby reducing the number available and looking for work, and the number

that can be unemployed or underemployed. “State unemployment is a “moment-in-time” index only and can change quite quickly. It is therefore, advisable to be cautious in comparing trends, particularly among states, because of the ease of movement across state borders, as job seekers search for employment or economic opportunities in other states. Favourable conditions in one state may lead to an influx of job seekers in that state and in the process increasing unemployment in the performing state, while reducing the unemployment rate in the originating state. “This may give a false impression that the state with the lower unemployment rate is performing better.”

APC Can’t Win Kogi With Bello as Candidate, Party Stakeholders Tell Buhari Yekini Jimoh in Lokoja To Ahead of the November 2 governorship election in Kogi State, an All Progressives Congress (APC) group, Kogi APC Stakeholders Forum, has urged President Muhammadu Buhari and the national body of the party not to foist the incumbent Governor Yahaya Bello on them as its candidate, else the party will lose the election. This is coming as the state branch of the Judiciary Staff Union of Nigeria has suspended its industrial action embarked upon in December, 2018, following the intervention of the National Judicial Council (NJC). The group revealed that the Kogi State governor has received a total sum of N344 billion for the 38 months he has been in charge of the state and still owes salaries, pensions and gratuities without any visible capital projects on ground anywhere in the state. Describing Bello as non-

performing and violent, the group stated that the governor has damaged President Buhari’s image and goodwill and that of the party, given his capacity to be so cruel to his fellow citizens of the state. A copy of the letter sent to THISDAY and signed by its Chairman of the forum, Senator Alex Kadiri, stated that attempting to foist the non- performing governor as candidate by the party will be a great national disservice and will lead to the loss of the state to the opposition in the forthcoming governorship election. The group lamented that despite the several committees set up to address the excesses of the governor, none of its recommendations were made public or implemented. “We will like to restate that Governor Bello has traumatised, inflicted poverty and fear on our people. People who dare to raise their voice to complain or protest this mistreatment have been summarily killed

or intimidated to the extent that a reign of terror is foisted on the people of the state. “The APC, of which you are the leader, must have the courage to say NO to Bello’s desire to remain Governor of Kogi State for history will judge all of us for all our actions and inactions where and when we had the authority and opportunity to effect a positive change in the affairs of men. “Citizens of Kogi State, regardless of our party affiliations, are not slaves to Yahaya Bello and will say no to his continued stay in office for the following reasons: Unpaid salaries, pensions and gratuities for Kogi workers, wasting and fraudulent use of funds that have accrued to Kogi State since inception of the APC administration of Yahaya Bello, the creation of insecurity in Kogi State. Our state is awash with guns and other instruments of violence, imported into Kogi State by Bello and his appointees”. The group further stated

that for the past 38 months, including February 2019, Bello had not paid full salaries to the workers of Kogi State, despite the fact that the state received full allocation from federation account as detailed in a report they got from the Federal Ministry of Finance. The group further argued that even without bailout and other funds received outside statutory allocation, Bello could have still paid all salaries, including pensions without conducting multiple screening and inflicting pains on Kogi State and local government workers. Meanwhile, the Judiciary Staff Union of Nigeria, Kogi State Branch, has suspended its industrial action embarked upon in December, 2018, following the intervention of the NJC. The pronouncement was made through a communique issued at the end of the union’s emergency meeting held yesterday in Lokoja, the state capital. In a communiqué titled:

‘Suspension of Strike,’ which was signed by Emmanuel Waniko and Sule Suberu, Chairman and Assistant Secretary, respectively, the union appreciated “the members for their patriotism, resilience and their absolute support to the course of this struggle for the past four months in the face of untold hardship. “Fellow members, as you all know, various mediators, including the Kogi State Elders Forum, traditional rulers, the Christian Association of Nigeria (CAN), Jama’atu Nasir Islam and other government representative agents, waded into, but could not resolve as the union and the government could not reach consensus. “However, as you must have heard, the National Judicial Council (NJC), in their quest to resolve the impasse, sent a sub-committee to the state and, among other things, was able to wade into the matter with the view for amicable resolution. The union stated that

following the intervention of the NJC, it was resolved: “That the strike embarked upon on the 11th December, 2018 by Judiciary Staff Union of Nigeria (JUSUN), Kogi State Branch, be suspended to give room for further deliberation. “That a committee be set up between the executive and the judiciary to work out the modalities for the payment of salary arrears. “JUSUN has considered the NJC as the apex body that regulates the conduct and administration of the Judiciary in Nigeria, and therefore has confidence in the Council that the matter has finally been put to rest. “Also, in consultation with other Sister Associations in the Kogi State Judiciary, that is, the Magistrates’ Association of Nigeria (MAN) and the Association of Inspectors and Area Court Judges (IAJA) are also in agreement with JUSUN. “Therefore, the strike is hereby suspended with effect from Monday, the April 29,” the union explained.

MONDAY APRIL 29, 2019 ˾ T H I S D AY

NEWS

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

Buhari’s Administration Borrowed N12tn in Three Years, PDP Alleges Adedayo Akinwale in Abuja

The Peoples Democratic Party (PDP) said yesterday that the administration of President Muhammadu Buhari has borrowed a total of N12.27 trillion within three years without any significant development project to show how the huge fund was invested. The main opposition party also said that the presidency lacks the competence and integrity to run a creative, transparent and credible administration that could guarantee economic growth, wealth creation and a dependable system. The National Publicity Secretary of the party, Mr. Kola Ologbondiyan who disclosed this in a statement issued yesterday, stressed that the All Progressives Congress (APC) are desperate to remain in power at all costs, so as to continue to exploit Nigerians, protect APC corrupt leaders, cover their incompetence and conceal the humongous sleazes in their administration. He noted that the APC administration wants to remain in power to prevent investigation into the N14 trillion allegedly stolen under its watch, including the N9 trillion stolen

from the Ministry of Petroleum Resources, as detailed in the leaked NNPC memo; the over N1.4 trillion alleged oil subsidy sleaze and the N1.1 trillion worth of crude diverted using 18 unregistered companies linked to APC interests. The PDP said this was in addition to the N33billion National Emergency Management Agency (NEMA) fund, and the over N18 billion stolen out of the N48 billion approved by the National Assembly in the 2017 budget for the rehabilitation of IDPs in the Northeast, among others. Ologbondiyan stated: “Furthermore, the Buhari-led APC administration is desperate to avoid an investigation into its unwholesome borrowings that led to the escalation of our nation’s debt stock from N12.12 trillion in 2015 to an overburdening N24.39 trillion in 2018. “Within a space of three years, this administration has borrowed a total of N12.27 trillion, yet it cannot point to any significant development project into which the money was invested. This includes the N2.66 trillion borrowed in 2018, ahead of the 2019 general elections. “These and many more are funds meant for infrastructural

Fashola: Why I Didn’t Attend Buhari’s LagosVisit Olawale Olaleye The Minister of Power, Works and Housing and former Lagos State governor, Mr. Babatunde Fashola, last night, dismissed insinuations that he did not attend President Muhammadu Buhari’s recent visit to Lagos for projects’ inauguration because Governor Akinwunmi Ambode did not extent an invitation to him. On the contrary, Fashola said he was personally invited by the governor, but he deliberately stayed away because he didn’t think it was right to share Ambode’s day of glory with him as a former governor of the state. “You know, I don’t tell lies and I would never lie against my successor in office. He personally called to inform me that an invitation letter had been sent to my Lagos home and pleaded that I attend the event. “Indeed, I gave him my words that I would be there but the truth is that I didn’t think it was right to share his day of glory with him. That was his day of glory for crying out loud and he deserved to make the best of it without anyone sharing that day with him. “For God’s sake, here is a man who had suffered very seriously bad press

and I did not share the bad press with him. So, why should I share such a glorious day with him? This is me; this is my style and this is the kind of example I want to be setting in governance,” he said. Citing a close example, he recalled that when former US President Barack Obama succeeded in killing the world’s one time renowned terrorist, Osama Bin Laden, it was his predecessor, George Bush he first called but Bush asked him to go ahead and celebrate his day of glory, because it was entirely his. Fashola who spoke exclusively to THISDAY in a telephone conversation, posited that although his decision to not attend the event was further bolstered by his need to prepare for the Federal Executive Council (FEC) meeting and so, he was fully convinced that attending the project inauguration was not expedient. He described the debate that his absence at the event had generated as grossly unserious, saying it is only in this part of the world that people celebrate such things otherwise attention should be paid to more serious issues of governance and development.

development and welfare of Nigerians but have been cornered by APC leaders.” Ologbondiyan noted that the negative effect was the further dipping of the country’s economy, as investor’s confidence, which shored up at the expressed resolve by Nigerians to elect Atiku Abubakar as their next

President, slumped with the rigging of the Presidential election. He added, “This is the reason the APC and the cabal at the incompetent Buhari Presidency resorted to violence, intimidation as well as manipulations and alteration of results at the Independent National Electoral Commission (INEC) to rig

the February 23, Presidential election.” The PDP spokesman said that this also explains why APC agents and certain presidential aides had been making desperate efforts to distract the Presidential Election Petitions Tribunal and derail the course of justice by making and promoting baseless judicial

interpretations and externalising the proceedings of the court. The PDP however urged Nigerians not to despair but continue to be steadfast in the aspiration for the recovery of the stolen presidential mandate at the tribunal, as this is the only way to return the nation to the path of peace, national unity and a vibrant economy.

70 HEARTY CHEERS…

L-R: Ooni of Ile-Ife, Oba Adeyeye Ogunwusi; Lagos State Governor-elect, Mr. Babajide Sanwo-olu; Chairman of Zenith Bank Plc, Mr. Jim Ovia; Chairman, UBA Plc, Mr. Tony Elumelu; Group Managing Director/CEO, UBA Plc, Mr. Kennedy Uzoka; and Ogun State Governor-elect, Mr. Dapo Abiodun; at the Special UBA CEO Awards to mark the Bank’s 70th Anniversary in Lagos...weekend

Children, Women Face SexualViolence in Borno Prisons, Says AI Martins Iﬁjeh An investigation by Amnesty International has revealed that children and women are exposed to sexual violence by security agents and inmates at two high-security prison facilities in Borno State. The rights watchdog alleged that the harrowing violations took place at Maiduguri Maximum Security Prison and Giwa Barracks, where thousands of civilians arrested due to alleged links to the Boko Haram armed group are being held. In its latest report sighted by THISDAY yesterday, the international body said scores of children were being unlawfully detained alongside adults in Maiduguri prison. The Nigeria Director, AI, Osai Ojigho stated that this represents another sad and disturbing case of human rights violation against civilians caught up in the Boko Haram crisis in the North-east. He said: “It is inexcusable that children are subjected to such vile treatment under government care, and likewise it is intolerable that women are once again bearing the brunt of abuse by the Nigerian security forces that are meant to protect them. “AI research team visited Maiduguri earlier this month to investigate claims made by inmate, Charles Okah, that children were being abused and unlawfully detained in Maiduguri prison. “Okah alleged that three

children detained on death row in Maiduguri were among the many victims of sexual abuse,” Ojigho narrated. He explained that the human rights body has obtained court documents confirming that at least 68 children were being held in Maiduguri Prison. “Our team also spoke to former Giwa Barracks’ child detainees who identified 39 of these children as their former cell mates at Giwa; a list that included names of the three young boys detained in the same area with death row inmates mentioned in Okah’s report.” He said the findings confirmed that dozens of children were being held in the maximum security prison in connection with the Boko Haram crisis, adding that its investigation revealed that the 68 boys held in Maiduguri prison were first detained without charge by the Nigerian military in Giwa Barracks before they were transferred between late 2016 and early 2017. “The government has so far failed in its duty to protect these children and violated its obligations under the United Nations convention on the rights of children. “The Nigerian government must ensure the immediate transfer of all children from Maiduguri prison and those who have not been charged with a recognisable criminal offences must be released. Children suspected of criminal responsibility should only be detained in children’s facilities. The detention of children in the same cells with adults is

unacceptable,” Ojigho stressed. On sexual abuse, the director said a Maiduguri Prison detainee as well as a former prison warder both confirmed that sexual abuse of children was widespread in the prison, adding that the detainee said he had observed the abuse of children by adult inmates. Ojigho said: “The detainee, who spoke to us via a contact to protect his identity, narrated that it is not a secret in the prison what is happening with the little boys. Sometimes, you see that a little boy goes into the toilet and immediately, an adult detainee goes after them, and when the boy comes out, you don’t need to be told what has happened to him.” He said the Maiduguri Prison former warder, who was also too afraid to meet AI in person, confirmed that he had been aware of sexual abuse of children. “The condition there is not good for children and it is difficult to stop what is going on with the boys. The only way is for them to be taken out of there. What do you expect when you keep children with grown up men,” Ojigho quoted the former prison warder to have said. He said AI also documented the sexual assault of a 16-year-old boy by an adult inmate in Giwa Barracks in or around January 2018, six months before all children were released from the facility, adding that at the time, children were being detained in a cell next to adult cells,

making interactions with adult inmates inevitable. He said a former detainee told AI that he had witnessed an adult inmate trying to take the trousers off a sleeping boy, and that by morning, the inmate was transfered to another cell with no further steps taken to protect the boys, adding that this incident was confirmed to AI by the boy who had been assaulted. He alao explained that there were also allegations that soldiers have raped women in the Giwa Barracks detention facility. “Three former female detainees independently said they had witnessed such attacks and identified 10 of the male soldiers responsible - including five who worked in the detention centre’s health clinic. Two of these former detainees were women who said they had been sexually violated themselves. “According to the eyewitnesses, at least 15 former female detainees were victims of rape, with soldiers demanding sex in exchange for food, soap, basic necessities and the promise of freedom,” he said He called on Borno State government to ensure that investigation into these allegations was prompt, independent and impartial, and that any prison official or military members found responsible for human rights violations should be brought to justice.

M ONDAY APRIL 29, 2019 Ë¾ T H I S D AY

MONDAY APRIL 29, 2019 Ë¾ T H I S D AY

M ONDAY APRIL 29, 2019 Ë¾ T H I S D AY

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COMMENT

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

OML 11: THE BAD AND THE OILY Caleb Adebayo argues the need to clean-up Ogoniland

few weeks back, word came from the State House in Abuja that the President had via an official communication mandated that the long-dormant OML 11 Joint Venture should have its operatorship transferred to the government entity, Nigerian National Petroleum Corporation (NNPC)/Nigerian Petroleum Development Company (NPDC) not later than April 30, 2019. This OML is notably one of Nigeriaâ€™s most important oil producing areas and it is operated by Shell Petroleum Development Company of Nigeria (SPDCN), a long-standing participant in Nigeriaâ€™s oil and gas sector. The news of the directive for change of operatorship from the president (whether in his capacity as President or Minister of Petroleum) has raised a number of questions; some legal, others commercial, and others still environmental. Ogoniland in Rivers State, home to OML 11, has a very chequered history when it comes to oil and gas exploration and engagement with international oil companies. From 1958, when Shell began oil exploration in Ogoni till date, the community has been at the receiving end of the various environmental hazards that have accompanied the production. Ogoni is a community that has continued to bear the brunt of oil politics over the years, affecting their lives and livelihood and putting the community in jeopardy. We cannot also quickly forget the Ken Saro-Wiwa debacle that shook the community. Since 1993, not much in terms of production has happened there. However, with the falling crude prices and the 2019 budget benchmarked against 2.3 million barrels of oil per day, the government is in a frenzy to ensure maximum production for oilfields. It is estimated that the country has lost an average of $7.01 billion in one year and a total of $177.136 billion in the last 25 years to the lack of production in Ogoni. It is not then entirely shocking that there have been moves to resume production in the same community that mimics a post-war settlement- devastated and in ruins. It is in fact shameful that while Ogoni people are still battling with the ecological disaster that their home has become and the non-implementation of the United Nations Environment Programme (UNEP) report of 2011 that recommended a clean-up, they are now being confronted with a ploy by the federal government to resume oil exploitation in Ogoni. Farming and fishing have become a nightmare for residents of Khana, Gokana, Tai and Eleme local government councils in Rivers State due to the activities of exploration in Ogoni. Poor crop yield and animal production, food shortage, death of fish, air pollution, destruction of arable lands and diverse illnesses have been the resultant effect of these production activities in Ogoni. As one of the most polluted communities and one of the most important too for Nigeria in terms of oil production, a restoration/clean-up and positive response to the environmental challenges in Ogoni would be a meaningful sign; hope for other polluted communities that in fact the government is committed to restoring their

AS ONE OF THE MOST POLLUTED COMMUNITIES AND ONE OF THE MOST IMPORTANT TOO FOR NIGERIA IN TERMS OF OIL PRODUCTION, A RESTORATION/CLEAN-UP AND POSITIVE RESPONSE TO THE ENVIRONMENTAL CHALLENGES IN OGONI WOULD BE A MEANINGFUL SIGN

communities and ensuring environmental compliance. Yet that is not the case. In June last year, the federal government purportedly in line with abiding by the recommendations of the UNEP did a flag-off of the commencement of the Ogoni clean-up exercise under the Hydrocarbons Pollution Restoration Project (HYPREP) programme (as our government is adept at naming programmes). This, certainly was lauded by all and sundry, except that after that, very little else has happened since the photo-ops and press statement in June last year, and as is typical, the government has not been transparent about its plans. Beyond the usual euphoria of fulfilling an electoral promise and mere verbal commitment by the federal government, no concrete steps or actions are being taken on the cleanâ€“up exercise since it was flagged-off. As rightly observed by Environmental Rights Action/Friends of the Earth Nigeria, (ERA/ FOEN), apart from the usual fanfare, there was no serious commitment by the government to the exercise. Perhaps it is important to state that UNEPâ€™s very detailed report on Ogoni recommended a clean-up and restoration of Ogoni and cessation of all activities that contaminate the environment. This report, delivered by UNEP in 2011, and presented to the federal government, saw no ilk of implementation until seven years later, and at that, it is still sluggish or perhaps non-existent. The report found that, without exception, all the water bodies in Ogoni were polluted by the activities of oil companies â€“ SPDCN and the NNPC. Indeed the report stated that some of what the people took as potable water had carcinogens, such as benzene, up to 900 times above World Health Organisation standards. The report also revealed that at some places in Ogoniland, the soil is polluted with hydrocarbons to a depth of five metres. While the communities are still hopeful that this clean-up programme will be implemented, we hear of a change of operatorship of OML 11, a harbinger of possible production in the region. A move to re-enter the community and continue production, which is very easily what can be seen from the change of operatorship directive, will be a callous, reckless and thoughtless move and will mean that the government places more value on the politics of oil and money than the lives of its people. It is also very doubtful that such will go down without a fight from civil society, international organisations and the community itself. Countries across the world have met challenges of this kind with deliberate and clear action. It is upsetting why Nigeria seems not to be able to take this environmental challenge seriously, even worse, after ratifying the Paris Agreement. According to the President of the Movement for the Survival of Ogoni People (MOSOP), Legborsi Pyagbara, â€œThere is no doubt that if the Nigerian government fails to protect the Ogoni people, it certainly cannot protect itself. History is replete with the ruins of societies that were built on the sort of injustices that have pervaded Ogoniland over the years.â€? Adebayo, a lawyer and environmental enthusiast, wrote from Lagos

THE VALUE ADDED TAX DEBATE Luxury goods should be subjected to hefty tax, argues Babafemi Ojudu

n my page I posted a while ago a contribution by Prof Familoni to the debate on whether or not to increase Value Added Tax (VAT). I love and appreciate his contribution and the clarity he has brought to it, which is retain the five per cent being charged now for the essential consumer items while you increase to 15 per cent the value added tax for luxury items , which is otherwise known as vanity items. I will even go further to advocate more than 15 per cent for the vanity imported items. There are quite a lot of things we donâ€™t need in this country for which quite lot of people expend money on. Of what use use is a gold toilet bath and bowl? Of what use are gold cutleries? If you must use that, it is all well and good. It is your right to buy whatever your means can purchase. These items consume our foreign exchange earnings and add no value to the growth and development of our country. The pressure of foreign exchange mean we all pay more in inflation and have lower quality of life. Recouping the funds by way of taxation will not only discourage the importation of these items but also create jobs locally, while providing funds to ameliorate short term downsides of inflation and decreased purchasing power occasioned by luxury item importation. You however must be ready to pay dearly for it so that those who could not access the means for bare existence could be provided for by the state. This is equity. This is how a just society is run. Progressive tax systems were how welfare societies in the West, which we envy today were built. The United States emerged as a world power from the World War and thereafter, building the interstate highways and funding the space programme by charging her wealthy citizens as high as 80 per cent tax rate! Indeed, â€œthe highest

marginal tax rate for individuals for U.S. federal income tax purposes for tax years 1952 and 1953 was 92%â€?. If we must build a fairer, and more equitable society where the rich and poor can thrive, and the rich especially can go to bed with their eyes closed then we must demand the fortunate pay more. Some years ago I went on a trip to China to visit a Chinese friend, a billionaire who manufactures keyboards and computer mouse. One evening he drove to the hotel to pick me and two of my friends to the rich peoples club for a night of heavenly SPA experience. As we drive in his luxury BMW, he told us he was not supposed to be driving that car if he were not vain. Yes, vain, he said. I asked him why. He said the amount he paid to acquire it was simply ridiculous. When he told me how much in Chinese currency I quickly whipped out my phone and went for the calculator. The car we drove in was worth, as at the time, a whopping sum of N250 million. The same car you could buy then for less than N30 million in Nigeria Asked why it was so expensive he said that was Chinese government policy of discouraging imports and encouraging local manufacturing which will in return provide employment for the locals and good tax income for the government. He said that policy does two things. If you have a taste for foreign luxuries you have to cough out unusual amount to maintain and service your taste. If the manufacturers of such items believe there is a huge market for their products in China but it became unaffordable because of the huge tax put on it, it behoves on them to come and open a factory for same in China. This will ensure technology transfer, create employment for the locals as well as generate tax income for the government. Just imagine Toyota, Mazda, Mercedes and BMW have plants in Nigeria today. Do you know how many jobs that will generate? Can

you imagine how much in tax that will bring to government coffers? Some years ago I and three other colleagues in the Senate visited a governor. He hosted us to lunch. As we were eating he called his Filipino chef to bring a particular champagne, the name of which I canâ€™t remember now. As he uncocked it with relish and pride he told us gleefully how much it costs. One million, two hundred thousand naira. I almost fell off my seat! A bottle of champagne for that much? How many of that did he keep in his cellar to entertain his guest and massage his own ego? Each of us got a glass of it and you can imagine how much each glass we gulped in less than 30 minutes cost. Imagine that this was cost price, the poor child in this governorâ€™s state that cannot afford three square meals was denied a bite at the pie, which may discourage such vain consumption by our governor! How I wish he or she got a VAT on that Champagne to even the playing field! Letâ€™s be clear, the Value Added Tax is a unique revenue stream in Nigeria that is disproportionately allocated to states over the federal government. It funds education, basic healthcare and rural roads. It will make states more solvent to pay increased minimum wage, and also incentivize shift of consumption to locally produced goods and spur manufacturing. Local non-luxury goods should be exempted just to be clear, and enforcement should be strict and encompassing. The kind of luxury good consumption by the governor I referenced above is what we need to tax heavily. If he has to pay N10 million for this he will perhaps think twice before buying it or at least purchase less or seek local alternatives. If the manufacturers know there is a big market for this in Nigeria, and the heavy tax is making people run away from it then they may have to establish a local factory here. If they have a factory here they will of course not only pay tax, they will

provide employment. It will be a win-win situation for the government and the people of Nigeria. Some have asked how do you define luxury items? My retort will be, â€œwho do not know what luxury items areâ€?? They are the things you consume which without you can still maintain a good life. They are the non-essentials. The essentials will certainly not come under this category, therefore the poor need not panic. If you have to bring in a private jet or a yacht here you should be ready to pay through your nose. If you must use a gold bath, a wrist watch worth N25 million, a lighting system that reacts to your mood et al, you must be willing to pay heavily for it. Buses transporting the poor from one point to the other do not come under luxury items but the Rolls Royce, Bentleys and similar luxury vehicles that are toys for the rich do. Luxury items especially those imported must be subjected to consumption tax to bridge our budget deficit and stop transferring our current liabilities occasioned by booming population and tax gap to the next generation in debt. It is simply a departure from the first republic mantra of â€œletâ€™s boycott all the boycottablesâ€? as propagated by one of the nationalists Mazi Mbonu Ojike. I think Mahatma Ghandi and the fathers of Indian independence struggle also adopted the measure of boycotting foreign goods. We need not do that now as some among us have developed special tastes for them and we wonâ€™t want to deny them the good things of life. Rather than go this route, let us tax all the non-essential items that we do not produce in our country. More tax revenue will mean more accountability and incremental resources to provide that which we cannot individually provide, while reducing the debt overhang. The time to act is now. Senator Ojudu is the Special Adviser on Political Matters to the President

T H I S D AY MONDAY, APRIL 29, 2019

EDITORIAL The Warnings On Debt Burden Government must be circumspect in piling up debts

espite being bullish in its reaction, the federal government will do well to heed recent warnings about the growing debt being incurred by the country. Disturbed by the reckless accumulation of debts, the International Monetary Fund (IMF) has consistently warned Nigeria of the consequences, particularly of the servicing costs which could consume substantial amount of government revenues. The federal government has, however, continued to sneer at the concerns as the amount of borrowings keeps piling up, raising the spectre of another debt trap in future. Amine Mati, the IMF senior resident representative for Nigeria, while speaking on regional economic outlook for sub-Saharan Africa – capital flows and the future of work, in Abuja, said Nigeria spends as much as 50 per cent of its revenue to service debts. The IMF warning WHILE THE COUNTRY’S is instructive enough DEBT PROFILE IS to those in authority RISING AND WITH IT that if this current OUR POPULATION, trend is not quickly checked, a time THE RESOURCES ARE will come when DWINDLING economic activities will be grounded because a substantial portion of the country’s income will be used only to service debt. The main concern was about Nigeria spending more of its resources to pay interests on loans without any commensurate efforts to increase revenue. To affirm the logic in IMF concern, the half-year activity report rolled out by the Central Bank of Nigeria (CBN) showed that whereas Nigeria spent N687.37 billion to service debts as at June 2017, the figure rose to N941.99bn in June 2018, which means that our debt service charge increased in 2018 by as high as 37.04 per cent. It is all the more disturbing that a country which obtained debt forgiveness and gloriously exited the Paris Club only in 2005 has built up its debt profile

Letters to the Editor

again to whopping N24.387 trillion in 2019. There are several questions begging for answers: How sustainable is this in the face of the allocation of 70 per cent of our annual budget for recurrent expenditure? What will be the size of our capital budget in the next few years with 50 per cent of our revenue target diverted to service debts? Given that the projects on which the loans are being expended are not income generating with some of them, like the railways, being subsidised, how shall we pay back?

M 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

eanwhile, we must state that borrowing is not evil in itself. Every nation borrows. If the aim of borrowing is to help the government to attain their developmental needs in the areas of infrastructure, health, education, power and transportation, it is a laudable idea. But the main concern is that over the years, the federal and states governments have accumulated huge debts at public expense which were largely frittered away. Therefore, borrowing must be done with a well thought-out investment initiative conceived to yield maximum benefits. Just recently, the Federal Executive Council renewed efforts to secure $8.7 billion loan to finance rail projects with a charge to the Minister of Transportation, Rotimi Amaechi, to convert $3 billion from its hitherto concessionary loan to commercial loan because the borrowing Chinese agency said it could only make $5.7 billion concessionary loan available. This, many experts believe, is a red flag. Unfortunately, whenever the government is confronted with the question of the danger inherent in continuous borrowing, the federal government always claims that Nigeria’s debt-to-GDP ratio is one of the lowest in the world without bearing in mind that debt in comparison to GDP is only sustainable when the revenue generation is high. In the case of Nigeria, while the debt profile is rising and with it our population, the resources are dwindling. We therefore join the IMF to caution the federal government on the danger of the current borrowing spree.

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TOWARDS REFORMING NIGERIA’S POLICING SYSTEM

he primary institution of combating security challenges in our nation is the Nigeria Police Force (NPF) which according to the constitution has exclusive jurisdiction to protect lives and property by fighting crime and maintaining law and order. But regrettably, of all public institutions whose record of ineptitude is prominent across the country, the Nigeria Police Force remains a customary point of reference. There is no crime that is alien to the police force, from extortion to rape to murder to kidnapping, to conspiracy; they are never far away from any atrocities. An average police officer is perceived more as a merchant of oppression than the protector of law and order. Sadly, all these unruly acts have witnessed an upward trajectory in recent years. According to Olusegun Adeniyi, what we have now are assassins in police uniform who are passionate to dispense bullets on innocent citizens. The quantum of impunity that exudes in the policing system is capable of instigating civil revolt as such dastardly experiences are becoming unbearable. However, we will be hallucinating not to admit that this perplexing situation is the product of the infirmity in our nation. The endemic maladministration in governance has been a springboard to the menace of this institution. Criminogenic problems like unemployment, poor education and ethnic tensions have significant implications for social disorder and crime as the force struggles to contend with the realities of the emerging security challenges. It is absurd that a 21st century police force is still battling with mundane challenges of improper training and skills, inadequate work force, lack of modern gadgets, political intrusion, poor working conditions, incompetence, poor remuneration, to mention a few. Presently, the vast rate of armed muggings, burglaries, homicide, road-block robberies and armed break-ins, local and international swindles,

kidnapping, terrorism, hooliganism, militancy, drug peddling and the likes are the outgrowth of our unconscious society. Lamentably, however, the police cannot really ensure effective security as it commands only about 371,800 official personnel out of which over 70 per cent are providing personal security for prominent individuals. In a nation of over 190 million people with its incumbent socio-economic and cultural problems, having an underfunded, ill-equipped and understaffed policing system is already an infatuation to lawless society. The potent parameters used to assess the proficiency and effectiveness of any police force is to consider its ability to fight crime, resources at its disposal, equipment and apparatus available to it in the discharge of its duties, fewest shots fired by them in a year and fewest persons beaten, shot and killed, strides taken in public protection and its efforts towards the protection of vulnerable persons. The Nigerian Police Force is in dire need of fundamental reforms where its operational and intelligent structure will be engaged in contemporary discourse. Policing is today a multi-faceted phenomenon where the responsibility of the state and the right of citizenry are effectively managed. This has brought about an instigating shift from the traditional model of law enforcing to crime preventing and community safety in order to play a key part in the renewal of social democratic level. Referencing the Police Reform Bill which has just passed second reading in the National Assembly, modernising the institution towards aligning with global practice is a logical step in the rebuilding process. But for it not to be a mere cosmetic proposition there is compelling need to address the organic disorder that is abetting the viscous abuse that has characterised the law enforcement agency. Kehinde Akinfenwa, Ministry of Information & Strategy, Alausa, Ikeja

TIME FOR A COFFEE

he US Air Force secretary Wilson has reported that the military has spent over $300,000 (about £250,000) on 391 cups since 2016 and people think the cost of coffee at a cafe is expensive! The cups aren’t even biodegradable. There are alternatives to these cups - recyclable paper cups. There is also alternative technology that keeps coffee warm - a thermos. There should be an alternative to wasting that amount of money - maybe going to the nearest convenience store for cups and perhaps the coffee as well. The military does a great job of protecting the country but not the economy. There are so many other vital projects that need financing - the great Mexican wall - well actually no, that will be another great waste of money or maybe creating a decent medical system - well actually no, that’s an Obama idea. Maybe a drop in the bucket of national debt would help. Maybe it’s time to double check prices against standard prices, if a coffee costs more than 10 times what it costs at Starbucks then don’t buy it. Anyway, it’s time for me to get a cheap, $5 coffee from a local cafe but its exact location is a carefully guarded military secret. Dennis Fitzgerald, Melbourne, Australia

MONDAY APRIL 29, 2019 ˾ T H I S D AY

NEWS

Osinbajo, Tinubu, Obaigbena, US Govs to Speak at Govs-elect’s Induction Onyebuchi Ezigbo in Abuja Vice President Yemi Osinbajo; National Leader of the All Progressives Congress (APC), Bola Ahmed Tinubu, and the Publisher

of THISDAY Newspaper group, Prince Nduka Obaigbena, will be among the prominent personalities and guest speakers at the threeday induction being organised for the incoming state governors

PCC Indicts Govs, Says Corruption Bane of Procurement Act in States Seriki AdinoyiinJos

The fear that they may be jailed under the Public Procurement Act (PPA) after leaving office, has been observed as the reason some state governors have shunned this legislation in their respective states. Executive Secretary of Public Complaints Commission (PCC), Mr. Bala Abdul Mohammed, noted this on Saturday at the University of Jos while delivering lectures as the Guest Speaker at the first annual public lecture in honour of Professor Jonah Elaigwu, a founding Professor of the Department of Political Science of the university. Mohammed said as a result of the absence of the legislation in many states which prohibits such practices, including over-invoicing of government contracts and other related purchases, corruption has continued to thrive unhindered in the public sector at the detriment of the states and their people.

“There is so much crisis in Nigeria today as a result of corruption; there is electoral corruption, nepotism, favouristism and other forms of corruption in Nigeria’s public sector, including procurement scam whereby the purchase of an item is inflated so that the difference between the inflated price and the actual price is shared between the person who does the purchasing and the sellers or it is taken by the purchaser alone with the connivance of the sellers”, Mohammed alleged. “This is where most of the governors and the executive members are being jailed. Anybody who takes you to the court of law under the procurement act is considered your worst enemy because you can hardly escape it. That is why some state governors have not enacted the procurement acts in their states,” he explained.

in the country, taking place today (Monday) at the Presidential Villa. The event, which is being organised by the Nigeria Governors’ Forum (NGF) will feature two former governors from the United States of America. Also a former United States Ambassador, Howard Jeter, will be at the event as special guest From the update issued yesterday by the Information and Publicity Unit of the NGF,

a former governor of New Jersey state in the US, Bill Richardson, is the lead presenter under the topic “Art of Governance and Experiencing Sharing.” Former Lagos State governor, Tinubu is to chair discussion session billed for today. Also another former governor of Maryland State, USA, Martin O’Marlley, will be the lead presenter for the topic “Setting Priorities, Managing Programmes

and Performance Expectations.” This session will be chaired by Senate President, Dr. Bukola Saraki. The Chairman of First Bank, Mrs. Ibukun Awosika, and Bishop of Sokoto Diocese, His Grace, Prof. Mathew Kukah, will also make presentations at the retreat. However, the NGF secretariat has hinted that the President of Rwanda, Paul Kagame,

who was earlier advertised as a guest speaker, may not attend the event in person. The three-day event, which commenced yesterday night with a dinner for all the governors and guests at the Transcorp Hilton Hotel in Maitama, Abuja, will be hosted at the Banquet Hall in the Presidential Villa. According to NGF secretariat, one of the highlights of the event will the presence of former First Ladies.

Lagos Warns Residents against Consumption of Poisonous Cow Skin Martins Iﬁjeh The Lagos State government has warned residents against the consumption of toxic cow skin, popularly known as Ponmo. The state government has also disclosed that it has arrested three persons over the sale of the poisonous meat in Ojo and Iba local government and local council development areas of the state, while the products have been confiscated. Disclosing this yesterday during the review of preliminary investigation and enforcement carried out on the sale of the toxic cow skin in Lagos, the state Commissioner

for Health, Dr. Jide Idris, said the culprits have been charged to court while samples of the confiscated ‘Ponmo’ have been sent to the National Agency for Food, Drug Administration and Control (NAFDAC) laboratory for suitability test analysis for human consumption. Explaining what brought about the action, the commissioner stated that the attention of the state government was drawn to the activities of traders who deal in the sale of the poisonous cow skin at odd hours in different locations in Ojo and Iba local government areas of the state. He said: “Preliminary investigations and suspects

tracing revealed that the traders were very active in the early hours between 4.a.m. and 6.a.m. at various locations such as Volkswagen Bus Stop, Iyana Iba, and Afolabi Ege Markets within Ojo LGA and Iba LGA of the state. “Furthermore, a company said to be located at ijedodo area of Iba LCDA was indicted as the source of supply of this toxic Ponmo and has subsequently been put under surveillance”, Idris said. The commissioner however, called on the public to be vigilant and report any suspected activities and sale of unwholesome foods and

food products to environmental health officer in their nearest local government or to the Ministry of Health or the Ministry of Agriculture. He also advised the public against purchase and consumption of foods which sources are doubtful or perceived to be hazardous to human health and well-being. Idris reiterated the commitment of the state government to the protection and promotion of good health for its citizens, adding that the state government will always do the needful to ensure that only healthy foods are available for consumption in the Lagos State

M ONDAY APRIL 29, 2019 Ë¾ T H I S D AY

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

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

Ambode Fights to Stamp His Name on Legacy Projects

Nseobong Okon-Ekong and Vanessa Obioha write that Governor Akinwunmi Ambode of Lagos State is in a hurry to take the glory for his achievements before his exit

President Muhammadu Buhari with Governor Akinwunmi Ambode (r) and Lagos State Governor-elect Babajide Sanwo-Olu at the commissioning of one of the projects

he prevailing penetrating heat could not dissuade them from the task at hand. With shovels raised and excavators making frequent assiduous journey to the earth, the picture of a busy construction site was complete. It was unbelievable that on this same site, two days earlier, the project was attended with all the spectacle of a comprehensive venture worth celebrating. However, the presence of workers on the reconstructed Oshodi International Airport Roads, a few days

after President Muhammadu Buhariâ€™s visit raised many questions that were begging for answers, particularly on the seeming haste igniting merrymaking by Governor Akinwunmi Ambode of Lagos State on projects that are, at best, nearing completion. Apparently, with some of these projects still ongoing, there are doubts that the facilities will be accessible to the public on the scheduled dates. But Ambode was not previously associated with trying to pass off uncompleted projects as thoroughly

executed jobs. In 2017 during the festivities marking Lagos @ 50, Ambode embarked on commissioning of several infrastructural projects across the state. Though some of these projects were started and had progressed to near completion stage by his predecessor, Mr. Babatunde Fashola, nobody raised an eyebrow that he had arrogated the achievement to himself. The story is frequently told of how Fashola was conscripted as a member of Vice President Yemi Osinbajoâ€™s entourage at the commissioning of one

QUICK FACTS:

hammed International Airport Road, the world class Oshodi Transport Interchange and the 820 high and medium capacity buses for public transportation r5IF DPNNJTTJPOJOH IBT CFFO condemned in many quarters as fraudulent presentation of incomplete projects r"NCPEF XBT OPU QSFWJPVTMZ associated with trying to pass off uncompleted projects as thoroughly executed jobs r*O EVSJOH UIF GFTUJWJUJFT marking Lagos @ 50, Ambode embarked on commissioning of several infrastructural projects across the state r4PNF PG UIFTF QSPKFDUT XFSF started and had progressed to near completion stage by his predecessor,

Mr. Babatunde Fashola, nobody raised an eyebrow that he had arrogated the achievement to himself r"NCPEF JT BDDVTFE PG OPU BMJHOing his priority with the master plan of Lagos handed down to succeeding governments by Senator Bola Ahmed Tinubu r5IF HPWFSOPS IBT DPNQMFUFMZ abandoned work on the rail project and the Lagos-Badagry Express Road started by Fashola r"NCPEF IBT SFDFOUMZ NBEF B late rally to get back on track, by making attempts to enter a romance with indigenous contractors for the construction of 114 inner roads simultaneously across the state, by it looks like the train has left him behind r5JOVCV SFGVTFE UP CBDL "NCPEF

r(PWFSOPS "LJOXVONJ "NCPEF lost his bid to rule Lagos State for a second term r"NCPEF EJE OPU KVTU MPTF UIF CJE to return for a second term. He has been haunted and harassed ever since. Many attempts have since been made to, as much as possible, obliterate his legacy from the annals of the state r5IJT SFDFOU SFUVSO PG QVCMJD interest on the fate of the outgoing governor is not unconnected with the visit of Buhari to commission Ambode legacy projects in Lagos r1SFTJEFOU .VIBNNBEV #VIBSJ was in Lagos recently to commission the remodeled Murtala Mo-

of such projects. Among the projects were a network of roads, bridges, seven transformers, street lighting infrastructures, monuments and a recreation park. Ambode cheerfully lapped up the accompanying applause, without as little as a hint of acknowledgement to Fashola who set the ball rolling. For instance, the Ijegun-Isheri-Osun-Isolo Road was a Fashola legacy project that was ready for commissioning, but could not be done before the end of his tenure. Critics of Ambode are quick to anfor a second term because the governor allegedly deviated from the master plan created for the development of the state r"NCPEF JT RVFTUJPOFE PO IJT refusal to leave projects for the incoming governor to commission like his predecessor did r-BHPT 4UBUF HPWFSOPST BSF BTsessed on three principal areas -security, refuse management and traffic supervision. While Ambode was generally adjudged to have done well in the area of security and traffic control, administration of garbage became the manifest weakness which led to his downfall r5IF GJSTU UJNF B QSPUFTU XBT staged in public against Ambode, it was carried out by over 350 waste service providers

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MONDAY DISCOURSE

Buhari

Fashola

Tinubu

Ambode

nounce that his priority did not align with the master plan of Lagos handed down to succeeding governments by Senator Bola Ahmed Tinubu. An example is Brown Road in Coker-Aguda Local Council Development Area (LCDA), a link road to 12 other roads in the area and also expected to connect the ongoing Blue Line Rail Project, which was commissioned by Ambode. On the other hand, the governor has completely abandoned work on the rail project and the Lagos-Badagry Express Road. It doesnâ€™t look like many are impressed with the justification of the governor that, â€œThe commissioning is tax payersâ€™ money in action.â€? Ambode may have recently made a late rally to get back on track, but it looks the train has left him behind. He has been making attempts to enter a romance with indigenous contractors for the construction of 114 inner roads simultaneously across the state. At the inauguration of the 114 roads in Oshodi-Isolo, Ambode said indigenous contractors were engaged for the project not only to boost employment but also encourage the local construction industry to grow. â€œWe are challenging them to do their best and as government we donâ€™t want to shy away from mistakes. If they (indigenous contractors) make mistakes, we also try to correct and encourage them. We are learning, it is a learning process and with time, I believe they will get there,â€? he said. At the commissioning of Ogunyinka Street, also in Oshodi LG, Ambode who was represented by the Iyaloja General of Nigeria, Chief Mrs. Folashade Tinubu-Ojo (Tinubuâ€™s daughter) also urged indigenous contractors to justify the confidence reposed in them. But it is apparent that these fence-mending efforts were coming late in the day. When pressed to give reasons for his refusal to back Ambode for a second term, Tinubu, a national leader of Nigeriaâ€™s ruling All Progressives Congress (APC) clearly stated that the governor deviated from the master plan created for the development of the state. He explained that the painful consequence of such improper departure was borne by the people of the state. Again, the integrity of Ambode is questioned on why he doesnâ€™t want to leave the projects for the incoming governor to commission like his predecessor did. Pundits quickly recalled how he took the glory for the Lagos State Emergency Management Agency (LASEMA) Centre at Cappa, Oshodi which the former governor of the state Babatunde Fashola began. â€œThe crazy rush to falsely impress the world that he had performed outstandingly well by commissioning uncompleted projects just to prevent his successor Babajide Sanwo-Olu from taking credit of commissioning those projects smacks of kindergarten and immaturity,â€? writes a Public Affairs analyst, Adeoba Michaels. The perceived vindictiveness of the governor is what pundits argue deprived him of getting the desired

ovation for his efforts. In his four year tenure, Ambode constructed 114 roads across the 20 Local Government Areas and 37 Local Council Development Areas (LCDAs) in the state; 21 roads and three bridges connecting the state with Ogun State. Other projects include installation of new transformers in Ibeju-Lekki, Epe, Eredo, Agbowa-Ikosi, Igbogbo-Bayeku, Ikorodu and Olorunda areas as well as Ojuloge Monument located opposite National Arts Theatre, Iganmu; Empowerment Monument at Sabo, Yaba; Drummer Monument at Ebute Ipakodo Roundabout, Ikorodu and Badagry Recreational Park, Topo, Idale; and of course, the Liberation Statue on Allen Roundabout in Ikeja which was done in honour of the Afrobeat legend Fela Anikulapo-Kuti. Despite the laudable efforts, the hostility targeted towards the governor stemmed from his outright abandonment of some of the projects by Fashola, notably the scrapping of Lagos State Waste Management Agency and the Lagos/Badagry Expressway which state is not a sight for sore eyes. There are three principal areas that the success or failure of the governor of Lagos state is predicated-security, refuse management and traffic supervision. While Ambode was generally adjudged to have done well in the area of security and traffic control, administration of garbage became the manifest weakness which led to his downfall. Arguably the governor had good intentions when he replaced the effective Lagos Waste Management Authority (LAWMA) with, Visionscape, a new waste management company. It is significant that the first time a protest was staged in public against Ambode was carried out by over 350 waste service providers. Against the better judgement of Tinubu, the governor failed to see how he could be overcome by the collective power of people who manage our discarded matter. Lagos state generates over 13,000 tons of waste every day; 1.2kg per person is generated per capita and expected to increase to 1.42kg in the next 15 years. Waste management infrastructure remains the fundamental lifeline in the economic development of the state. This recent return of public interest on the fate of the outgoing governor is not unconnected with the visit of Buhari to commission Ambode legacy projects in Lagos. Since his political ambition was truncated when the party chose Babajide Sanwo-Olu to replace him, rumours have been rife that Ambode will not take his defeat lightly. Like an action thriller, many expect the governor to break the code of omerta and spill the beans on the alleged corrupt practices of Tinubu. If that happens, then the saga would be worth a box office title. Ambode did not just lose the bid to return for a second term. He has been haunted and harassed ever since. Many attempts have since been made to, as much as possible, obliterate his legacy from the annals of the state. The state house of assembly has been clearly

hostile. The contract with Visionscape was discontinued, not minding what it will cost the state government. When the governor presented the stateâ€™s 2019 budget of N852.13bn to the Lagos State House of Assembly, members declined to debate it. However, there are arguments that the governor is rubbing minds with top politicians at the federal level since the animosity against him at the state level is very visible. The supposition is that he is angling for a chance to represent Lagos in the Federal Executive Council, a position currently occupied by Fashola. Interestingly, Fashola clinched the office without the help of Tinubu, but his chances of being favoured above Fashola are very slim. With less than one month to his exit from office, the latest commissioning of the projects is viewed as a desperate attempt to win the heart of the president and perhaps secure a ministerial slot since the president has shown signs of appointing his cabinet soonest. Many former governors who go on to serve at the federal level do not get an office below a ministerial appointment. Buhariâ€™s speech at the commissioning of the remodeled Murtala Mohammed International Airport Road, the world class Oshodi Transport Interchange and the 820 high and medium capacity buses for public transportation, may be of little comfort to Ambode. The President stated emphatically that the Lagos State Governor performed satisfactorily. â€œTo complement Oshodi Transport Interchange, the Federal Government has recently approved the reconstruction of the Apapa-Oshodi Expressway up to Oworonshoki and Old Toll Gate which was last attended to 40 years ago. â€œWe have recently commissioned the new International Airport Terminals in Port Harcourt and Abuja, as well as the rail lines from Abuja to Kaduna. The Lagos to Ibadan Rail Line is under construction. Our government will continue to prioritize high impact infrastructure which will vastly improve the lives of our people,â€? he said. Governor Ambode said the Terminal 3 of the Oshodi Transport Interchange will become fully operational on May 1, while Terminals 1 and 2 would become operational by the end of May. â€œAll these projects together form the thrust of our vision as a government and the end result is to make life better for all our people, irrespective of gender, tribe or political leanings,â€? he said. He said his administration invested the second tranche of the Paris Club refund, in addition to the refund by the Federal Government on Federal road projects executed by States to the construction of the Murtala Mohammed International Airport Road and the Oshodi Transport Interchange, the first of its kind in Africa, while the first tranche of the Paris Club refund to States approved by the President was utilised to pay the 40 per cent down-payment for the 820 buses. â€œThis is our report card, Mr. President. We have used your approval and releases judiciously because we believe

strongly in you, in your leadership and in your vision for our country. This is our modest contribution to the growth and development of our State and to the country in general. â€œMr. President, we believe strongly that the projects being commissioned today are our own modest contributions to the national development of Nigeria. As I said earlier, these projects would not have been possible without Mr. Presidentâ€™s quiet but impactful decision to approve and release the payments of the Paris Club refund and the refund on Federal Road projects incurred by the States,â€? he said. Governor Ambode said he was fully optimistic that with the coming on board of the projects, the future prosperity of the State is secured, saying that the level of investment in the last four years in strengthening the social and physical infrastructure base of the State were becoming evident in all sectors of the economy. â€œWith the completion of these projects and given the level of commitment of the next administration as well as the continuous support of the Federal Government, I am assured that the immediate and future prospects of our State is very bright. Though governors from the neighbouring South-west states rallied round Ambode to complement the paraphernalia of state rolled out for the presidential visit, there was a hint of cold reception and the reason is not far-fetched. When Buhari stormed Lagos last year to commission the Ikeja Bus Terminal, Lagosians were hopeful that the facility would be accessible to the public in a couple of days. But till his recent visit, the Ikeja Bus Terminal is still perching beautifully on the Ikeja axis, begging to be used. Ambode had touted the terminal as a world class facility befitting for the world class state he is ruling. For this visit, Ambode again invited the president to commission the reconstructed Murtala Mohammed International Airport Road, the Oshodi Transport Interchange, the New Ayinke House â€” a modern 170-bed Obstetrics and Gynaecology Specialist Hospital, located within the Lagos State University Teaching Hospital (LASUTH); and 820 medium/high capacity transport buses. The advertised projects that were commissioned by the President were said to be incomplete and proved to be so. Ambode in a tweet had assured Lagosians that the Airport Road and the U-Turn Flyover will be â€œopened for public use from May 10 after the completion of the quality assurance test.â€? If for any reason, the governor had reasons to doubt that the product or service meets specified requirements, how would he justify the haste to put them to use? Nevertheless, Ambode is not one to be caught off guard. As an accountant, it will be unruly to think that he is yet to carry out calculations on his next political leap. Whether the recent visit of Buhari will work in his favour or not, only time will tell.

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FEATURES

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

Looming Danger in Kogi Communities Chiemelie Ezeobi writes on the looming danger at the Ayetoro Gbede and Iluhagba Communities in Ijumu Local Government Area of Kogi State, over the alleged disappearance of one of the Bororo Fulani Herdsmen and the subsequent threat by the latter. For these communities, particularly worrisome is the fact that these herdsmen have in times past repeatedly plundered their farmlands without any punitive action taken against them

ear! Palpable fear can be felt at both Ayetoro Gbede and Iluhagba Communities in Ijumu Local Government Area of Kogi State. While Ayetoro Gbede is a town along the Ilorin - Kabba Federal Highway, Iluhagba on the other hand is a small community next to Ayetoro on the way to Mopa along Kabba-Ilorin Highway. Their fears are not unfounded! Both communities were recently inundated with threat of a possible attack. The threat emanated from the Bororo Fulani Community, that resides in Ayetoro Gbede. Given that both communities have no fewer than 87 Fulani settlements in and around them, the threat has not been treated with kid gloves as all measures are being undertaken to douse the situation. According to the President, Aiyetoro Gbede Development Association (AGDA), Mr. Ezekiel Olorunfemi, who raised the alarm, their apprehension was was based on a security tip-off from police. He said the traditional ruler, Olu of Ayetoro Gbede, Oba David Ehindero, who is the present regent, invited them to his palace to brief them of how the DPO informed him of the looming danger arising from the Bororo Fulani's report that one of their sons was missing, having been chased by three people. Grouse The grouse of the Fulani community was over the alleged disappearance of a young herder by some unknown gunmen from Iluhagba community. Based on that, his father had threatened the community if they fail to produce his son. According to reports made available to THISDAY, from the discussion on the communityâ€™s WhatsApp platform, the Bororo man, who raised the alarm, claimed he was in the company of the missing person when three persons, who were allegedly from Iluhagba, gave chase. He further claimed that while he managed to escape, his companion may have not been lucky as he heard gunshots.

A herder and his herd

The Search Accordingly, the traditional ruler was said to have acted immediately he was briefed about the attack. It was gathered that he invited the community vigilante, 20 hunters from Ayetoro Gbede and four from Iluhagba to join four policemen for the search. They were all accompanied by 40 Bororo persons. The search did not yield any result. Interestingly, during the search, no trace of blood or the boy was found in the bush or its surroundings. Destruction of Farmlands Meanwhile, the traditional ruler had disclosed that the Bororosâ€™ recently destroyed the cassava farm of a notable politician from the community.

A typical farmland destroyed by cows

In fact, instead of the search for the missing person carried out by the vigilante, police, local hunters and Bororo representatives, to unearth the whereabouts of the young herder, they discovered farmlands that were destroyed and the crops prematurely harvested

At the last count, over 300 Diana truck load of cassavas were uprooted from the farm. This was confirmed in the statement of Oluode of Ayetoro Gbede when he joined the meeting. In fact, instead of the search for the missing person carried out by the vigilante, police, local hunters and Bororo representatives, to unearth the whereabouts of the young herder, they discovered farmlands that were destroyed and the crops prematurely harvested. According to findings, that would not be the first time these herders have gone on rampage on peopleâ€™s farmlands. Already, many farmers have lost millions in investment to the herderâ€™s activities in the community. On each occasion, the devastation they leave behind is far reaching. Time and time again, these herders have reportedly uprooted the cassava and yam tubers to feed their cattle, with no recourse to the financial loss they inflict on the farmers. Notwithstanding the pain of the premature harvests, the communities have always toed the

path of dialogue instead of beating war drums. Threat Meanwhile, the Bororo herder whose son was lost has insisted that he must be found. He visited the traditional ruler and issued an ultimatum that he was traveling to his home town in the North to inform his relatives, adding that he should not be held responsible for the consequences. According to Olorunfemi, there and then, the traditional ruler had told him to report to the DPO and also inform the traditional ruler of Iluhagba, on whose territory the incident occurred, in case he would be needed. He further noted in his reply, the Bororo man said he had gone to meet the DPO but was hesitant to go to Iluhagba on the grounds that the Iluhagba people had reportedly promised to wipe them out. He eventually left after the traditional ruler of Ayetoro Gbede called Iluhagba people to host

them peacefully. However, the Iluhagba people had revealed that the Bororosâ€™ had already issued an ultimatum to them to produce the boy, else they would face their wrath. Having reported the threat to the DPO, the traditional ruler of Ayetoro Gbede had invited stakeholders of the community to deliberate on the matter. It was then announced that the meeting of Gbede Obas has been summoned to hold immediately and the hunters have been enjoined to be at alert. The meeting was to ruminate on workable solutions given that the Bororo man had threatened to go to his home community in the North and report for the incident if the boy was not produced within three days from last week Thursday, adding that the traditional ruler and the communities should be held responsible for any consequence of his action. Tactical Approach Expectedly, the threat from the Bororo Com-

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FEATURES munity has flagged a red alert for the two Kogi communities. Asides measures by security agencies, the stakeholders have put plans in motion for their own personal safety. According to one of the community stakeholders, while they pray for the son of the herdsman to be found, the Ayetoro Gbede community on the other hand needs immediate help from indigenes who are security experts. Noting that information is very key in this kind of situation, he posited that the Bororo community must be infiltrated and 24-hourly surveillance mounted on their movements around the village. He added that although the threat from iluhagba community worked to instill fear in them, it must also be made very clear to them that any assault on the village will herald the end of their stay in their community. Pointing out that four policemen would not be enough to counter any uprising, he stressed that there must be reliable reinforcement with adequate mobility for rapid respond. Thus, he argued that every male in every household in the community must be on 24 hours watch over their family and neighbourhood, with the mantra being - â€˜if you see something, say somethingâ€™. Again, he called for centralised communication command to be set up so people will know what telephone numbers to call immediately there is an emergency. Also, to ensure adequate safety of lives, he said people must avoid going to farm alone and must be very alert, to minimise the element of surprise assault. Meanwhile, he noted that roadblocks must be mounted throughout Ayetoro Gbede land to forestall large movement of Bororo militia, adding that rapid response is the key to neutralise and minimise any uprising. Strategic Approach In addition, one of the professors from the community said there must also be a parallel strategic approach to the earlier tactical position on managing the crisis, part of which involves carrying the chief imam of Ayetoro along. He said the Islamic cleric must be engaged to speak to the father of the boy as a fellow Muslim, while they continue to engage their community (Fulani) in discussion to neutralise the tension, so they don't think of taking laws into their hands. â€œThey must be reassured that we recognise them as one of us. â€œInvestigation must also commence on the other hand concerning the vandalised farm. The boyâ€™s father may also help. Is there any other motivation apart from grazing? Are there sponsors etc. The owner of the farm must also be taken into consideration in any compensation. The state government must be brought in from this perspective. If they are serious at all, then this is a test for them. â€œThis is an unfortunate situation. It is a situation like giving a dog a bad name in order to hang it. I suggest the police should invite the second son for interrogation and the head of the Fulani (Ardo) community to confirm if the man has â€˜twoâ€™ sons. As for vigilance, itâ€™s a pity that the reprisals could be earlier. Let every effort be made to unravel this claim. The whole Gbede should be on red alert. I suggest the local government should be brought in. The LG chairman is the closest link to the state government. Let us bring him in to picture immediatelyâ€?. Another stakeholder had also suggested that while they toe the path of resolution, their community policing strategies must be scaled up. In that vein, he said the main Ardo for the Fulani community should be contacted or possibly Miyetti Allah in Kogi in order to involve them in the matter. Red Alert to Security Agencies One of the immediate solutions posited by stakeholders was that the traditional ruler should inform the state government and other security agencies like the Department of State Security (DSS), about the matter. They also tasked the security agencies to be proactive by immediately profiling all the Bororo settlements and individuals. Another stakeholder appealed to the elders to escalate the threats to the Inspector General of Police, Mohammed Adamu and perhaps President Muhammadu Buhari. According to him, the communities are at risk of being attacked the way some other parts of the Middle belt has been attacked. He further tasked that the Bororo man who made the threat be invited for interrogation and the entire community as well. He added that if possible, after the investigation, they can tell them that they are no longer wanted in their lands because they have created an atmosphere

Kogi State Governor, Yahaya Bello

HRH Oba David Sunday Ehindero, the Olu of Ayetoro

Some farmers of fear even without the establishment of a cattle colony. He said: â€œThe threatening Bororo should have been arrested. While I am in total support that we need to make the necessary efforts to investigate this matter and possibly unravel truth, I feel very sad that these Bororosâ€™ will come to our land and be threatening us despite our efforts to ensure they make a living on our land without molestation.â€? However, one of the stakeholders was the voice of caution. According to him, even though they must carry the security agencies along, they (the community) must not give the impression that

He argued that they cannot at this point, concede command and control of security of the village to government agencies. According to him, they have had instances where the state security agencies shield perpetrators because there is â€˜order from aboveâ€™

a Bororo issued a threat that threw the whole city into panic. â€œIt's quite in order to mobilise the Olodes (security guards) with money, but it should be to defend the town. Let the police do their due diligence of the alleged mising child, let the Olodes watch over the town and also hand over the Bororo to the authority for threatening the city. He should not get away with his threat because it's a crime. Our actions or inactions should not discourage investors to the cityâ€?. Personal Safety Efforts While the government has been called on to act, the communities are definitely resting on their oars in ensuring their own personal security. One of the stakeholders also posited that the oba-in-council needs an urgent security fund, thus, all groups AGN/ AGDA and individuals should help make special funds available to the council. According to him, they don't want a situation where hunters will lack gun powder, searchlight, fuel for patrol vehicles or credit for phone calls. He also tasked anyone with spare cars at the village to release it to the Oba-in-council as patrol vehicles. While expressing fear that the government of the day may not rise to the occasion, he argued that they cannot at this point, concede command and control of security of the village to government agencies. According to him, they have had instances where the state security agencies shield perpetrators because there is â€˜order from aboveâ€™. One of the chiefs reiterated the calls for personal security. He said: â€œDefinitely, we at home know what we are doing. Itâ€™s just that we cannot rely on the police. We want our lives and properties protected right in Godâ€™s hand and handled by those whom we can call upon at anytime the

need arises. We all know the type of security personnel we have in this country. â€œYou call on them they tell you they have no fuel in their van and we don't want to be caught. As from now, we want our own security to be working throughout the night. The commissioner of police, the area commander, the sole administrator ,and the D.P.O have all been informed, but we must get prepared on our own. We have I.G. and they still kill in Benue and other areasâ€?. Also in the chat room, another suggested that the community needs something to prepare against any possible attack. This he said, was where the financial contribution of all and sundry, matters. To clarify that his suggestion was not in any way to arm people, he said the community should lead a delegation to the heads of these agencies including the DSS. Unanswered Questions Some of the unanswered questions that were raised by the group include: â€œwhat happened to the commercial farm that was vandalised? No report? No investigation? Who organised and paid for the search for his son? Could the police not verify if there's any missing son? Was it established yet that a child was missing? Just one Bororo alleged that his child was missing without going to the police and if he went to police, shouldn't police be the investigator and/ organise the search and also escalate the incidence to higher authority? And the destruction of the farmland is not enough to galvanise the town to action? With the impending danger looming, it therefore behooves the state government and also the security agencies to first restore the confidence of the communities in their capabilities by doing the needful in securing their lives.

MONDAY APRIL 29, 2019 Ë¾ T H I S D AY

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T

REPO 17.29 % 16.43%

CALL 1-MONTH 3-MONTH

16.50% 15.13% 15.75%

A P R I L 2 6 , S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

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

2 0 1 9

388.29% 0.25% 0.44%

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

0.44% 8.77%

EXCHANGE RATE N306.90/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Heritage Promotes Cultural Diversity

STOCKTAKING

L-R: Managing Director, First City Monument Bank, Mr. Adam Nuru; Director of FCMB Group Plc, Prof. Oluwatoyin Ashiru; Company Secretary/ General Counsel, Mrs. Funmi Adedibu; Group Chief Executive, FCMB Group, Mr. Ladi Balogun; Executive Director, Finance, FCMB, Mrs. Yemisi Edun; Chief Operating Officer, FCMB Group, Mr. Peter Obaseki and Director of the Group, Mr. Olutola Mobolurin, during the sixth Annual General Meeting of the FCMB Group held in Lagosâ€Śrecently

DryPorts:Shippersâ€™CouncilMoves toAttractInvestors Eromosele Abiodun Worried about the slow pace of work at most of the Inland Dry Ports (IDPs) in the six geopolitical zones of the country, as a result of paucity of funds, the Nigerian Shippersâ€™ Council (NSC) is currently working on assisting the concessionaires to attract investors and necessary funding. The IDPs are also known as Inland Container Depots (ICDs), The Council, it was gathered, is concerned that apart from the Kaduna IDP which has taken off since January last year, the rest are yet to be completed due to lack of funds. To ensure that the concessionaires complete their projects as

MARITIME

soon as possible, the Council has approached the Commonwealth Enterprise Investment Council (CWEIC) to be involved in the search for interested investors for the IDP projects. It was gathered that the Executive Secretary, NSC, Mr Hassan Bello, recently visited the London office of the body which was established in 2014, to promote intra-commonwealth trade and investments across the 53 member countries. CWEIC is responsible for organising the Commonwealth Business Forum alongside the biennial Commonwealth Heads of Government Meeting and Commonwealth Trade Ministers

Meeting on alternative years. Also recently, Bello led the management team of the Council to attend the Advisory Council Meeting of CWEIC held recently in Lagos, during which a lot of business opportunities across and beyond Nigerian were laid bare. Specifically, the Council wants to attract investors from Commonwealth countries so that the remaining projects being handled by concessionaires can be completed as soon as possible. Apart from IDP projects, the Council is also interested in getting investors for other transport sector infrastructure projects, such as Truck Transit Parks (TTP) and Border Informa-

tion Centres. Both the IDP and TTP projects are expected to have multiplier effects on the national economy, with thousands of jobs to be created when completed. The Council sees the dry port project as imperative to trade facilitation as it will enable shippers in the hinterland import and export without having to travel to Lagos seaports or other seaports for the process. For instance, with the Kaduna IDP, importers in any part of the world who wish to use that dry port can do so by indicating it as Port of Destination for their goods instead of using Lagos seaport. Similarly, businessmen from that zone Continued on page 24

Exporters Seek Release of N350billion Accumulated Grant Raheem Akingbolu In the last six months, non-oil exporters in the country have been mounting pressure on the federal government to release the accumulated Export Expansion Grant (EEG), from 2007 â€“ 2016. In a letter dated 10 April and signed by the Executive Secretary, Organised Private Sector Exporters Association (OPEXA), Mr. Jaiyeola Olanrewaju, and directed to President Muhammadu Buhari, the association pointed out that the federal government had earlier approved promissory notes (PN) programme in 2017, at its Federal Executive Council meeting and forwarded to the National Assembly for their

ECONOMY approval in 2018. It was stated that National Assembly had also conveyed its approval for payment of N195 billion claims in January, 2019. â€œWe, the exporters have been waiting anxiously, since the approval from NASS for the PNs to be issued. It was only on 4th April 2019, almost 70 days after the approval from NASS that the DMO (Debt Management Office) called the exporters to brief us on the implementation of PN program,â€? the letter stated. It went on to condemn the sudden move by the DMO to issue the PNs through a Reverse

Auction Process, adding that the DMO has not been forthcoming with any further details about the mechanism of Reverse Auction Process. Consequently, the association made a three-point demand on the issue. Firstly, was that the Reverse Auction Process (RAP) for issuance of Promissory Notes (PNs) should be reconsidered by the government. Secondly, that the government (including the Debt Management Office, DMO) should restrict themselves to issuing the PNs as the shortest term feasible for payment, while equal treatment should be meted to all beneficiaries of all categories of PN. The third demand by OPSEA

was that exporters should be issued PNs with shortest tenure (spread evenly over a maximum period of three years) bearing in mind that payment has been delayed for a period of three to 12 years for memberâ€™s claims. The association declared that members were becoming unsettled in their businesses more than ever and unable to carry out their vital roles. The association said governmentâ€™s inaction was causing challenges to their members. One of such major challenges it stated, was the accumulating interests on loans which was said to be making their investment Continued on page 24

HeritageBankPlchasjoinedforceswithMagodoResidentsAssociation (MRA), to promote cultural diversity and in ensuring the success of the maiden edition of the Magodo Cultural Day 2019. The two-day event held in Lagos recently. Addressing organisers at the event, the Regional Head, Lagos Island, Heritage Bank, Abiodun Agbaje, said his management was impressed with the response and participation of the residents and others in the cultural exhibition and celebrations.Agbaje disclosed that, at inception, the Heritage Bank management opted to focus on areas that other banks had neglected, with a view to making a diďŹ€erence and impacting positively on the ďŹ nancial needs of its prospective customers and the society. He added: â€œThings that are diďŹƒcult for bigger banks, Heritage Bank has doneitsuccessfully.Weareopentoassistinganyinvestorthatsharevision and mission with us.â€? He said in line with its mission to create, preserve and transfer wealth across generations, Heritage Bank decided to support this yearâ€™s Magodo Cultural Day with the belief that diverse community promotes creativity networking and success.â€? Agbaje, therefore, assured the audience at the event that as long as the MRA members were ready to patronise Heritage Bank, his management would be glad to support the cause again next year and beyond. Impressed by the success of the outing, Chairman, MRA, Jade Niboro, notedthatfortheďŹ rsttime,residentswereabletocometogether,connecting. He said that the cultural exposition created the avenue for diďŹ€erent families living in the estate to publicly interface with diverse cultures.

TESSCOM Organises Rice Festival

TheTotal Exhibition Support Services Company Limited (TESSCOM), has commenced the second edition of the Nigeria rice festival in Lagos. The move was part of commitment to encourage economic diversiďŹ cation, while leveraging on the rice value chain. The annual event which was inaugurated in October 2018, was aimed at promoting the Nigeria jollof rice.The event brought together indigenous rice producers and makers of cooking spices. In a statement, the Chief Executive OďŹƒcer, TESSCOM, Olukemi Ilori, noted that the event was tailored to enhance commercial activity in the entire rice value chain.Ilori, in the statement said the rice revolution would create employment, reduce crime, capital ďŹ‚ight, provide food and enhance food security.She added that the rice festival would place the local rice, which is popularly known as Ofada rice and jollof rice as the best in the world. Meanwhile,oneofthevendorsattheevent,Mrs.SherifatAbdulhakeem, said some of the challenges facing rice production in the country were low mechanisation, unavailability of land and inadequate funding. Abdulhakeem, who also is an independent rice farmer, expressed the need for Nigerian consumer to embrace made in Nigeria goods, in order to drive sales.She added: â€œThe Nigerian rice might be able to meet international standards at present because of inadequate funding, but if encouraged with patronage, the local rice will reach a level where it can strike a balance for both the farmer and the consumer thereby normalising the price which the market now ďŹ nds to be on the high side.â€?

AYAF Conference Holds in Cape Town

The third African Youth Agripreneur Forum (AYAF) Conference and AgriPitch Competition will be held in Cape town, South Africa from 24th â€“ 28th June 2019 under the theme â€œClimate Smart Agriculture: Business and Employment Opportunities for Africaâ€™s Youthâ€?. This year, the AYAF would be held in partnership with Western Cape Government. The annual event of the African Development Bankâ€™s Enable Youth Program is expected to attract over 200 participants from across the continent,includingyouthagripreneurs,agribusinesscompanies,investors, environmentalists, academia, development partners and government agencies.This year, AYAF has three key events:Three-day boot camp and AgriPitch Competition; AYAF Investor DealRoom and AYAF Conference Objectives of the forum would also include: to demonstrate and showcase the success and business potential of agribusiness across Africa for job and wealth creation, in particular for youth; to connect agripreneurs to investors, mentors, business partners, development organisations and other agripreneurs in Africa; and provide the youth agripreneurs with critical business skills and expose them to new and innovative ideas and technologies for business creation.

â€œWe do acknowledge that the federal government alone cannot shoulder the entire burden of funding tertiary education due to competing needs of other sectors that also demand priority attention. This is where Public Private Partnership can and should come in to fill the gapâ€?

President/Chairman, Dangote Group,

Alhaji Aliko Dangote

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BUSINESSWORLD DRY PORTS: SHIPPERSâ€™ COUNCIL MOVES TO ATTRACT INVESTORS

who have goods to export can use the dry port without having to go through Lagos seaport. The current scenario is that apart from the Kaduna IDP, other dry ports projects located in Kano, Jos Plateau State, Isiala Ngwa, Abia State, Borno, Maiduguri, Kaduna and Ibadan have been delayed due to funding issues. The concessionaires include Duncan Maritime Ltd â€“ Jos; Eastgate Inland Container Terminal Ltd â€“ Isiala Ngwa â€“ Abia; Dala Inland Dry Port â€“ Kano; Migfor Nigeria Ltd â€“ Maiduguri; CatamaranLogistics Ltd â€“ Ibadan; Equitorial Marine Ltd - Funtua. There are also another IDPs at Olorisa Oko, Ibadan and Benin, Edo state.

EXPORTERS SEEK RELEASE OF N350BILLION ACCUMULATED GRANT and pricing decisions in their businesses very difficult. â€œWe have taken up debts to service the receivables and these debts are incurring further interests with the continuing delay in the payment of EEG claims,â€? the letter added. Though it is believed that the current government under the leadership of President Mohamadu Buhari, has shown clear intention to take the country out of the perennial dependence on oil revenue by getting other sectors up and working, analysts have insisted that the ongoing dispute could be a stumbling block if not nip in the bud. According to OPSEA, the inability of government to meet up with the promissory notes for non-oil exporters for dues owed them for over nine years may undermine the successes recorded so far by the policy. In a letter to the president appealing for his intervention on the matter, OPSEA recounted that before now, the previous administration commenced the issuance of EEG to genuine exporters but the grant was later suspended in 2007 due to duplicitous claims and counter-claims by stakeholders over who and who should indeed benefit from the package.

NEWS

BPP Harps onTransparency, Reforms in Procurement Process Oluchi Chibuzor The Director General, Bureau of Public Procurement (BPP), Mamman Ahmadu, has charged Permanent Secretaries and other stakeholders in the procurement process to ensure transparency and accountability in carrying out their responsibilities. Speaking at the 9th Annual Public Procurement Retreat for Federal Permanent Secretaries, held in Lagos at the weekend, the BPP boss said the timing of the exercise was apt, adding that the consistency of the forum would improve public procurement process, and lead to better budget implementation in the country. He said the programme was an opportunity to bring all participants on same page in the implementation of the procurement reform programme, adding that subsequent retreats would be for the chief executive officers (CEOs) of parastatals and the directorate cadre in the Ministries Departments and Agencies (MDAs). â€œTo ensure the success of the procurement reform, the BPP is, in line with global best practices, embarking on new sustainable public procurement initiatives. â€œFor instance, the National Open Contracting Portal (NOCOPO), the global award winning initiative which further emphasise the need for transparency, competition and level playing field among contractors, consultants and service providers, has placed Nigeria among the best public procurement regulators in the world,â€? he said. The BPP boss added that while the national upgrade, a

version two of the Contractors, Consultants and Service Providers (CCSP) was ongoing, the price-checker platform which harmonises prices of items was also in progress. He disclosed that BPP currently runs Research Centres at the Federal University of Technology, Owerri (FUTO), Ahmadu Bello University (ABU) Zaria, and the University of Lagos, among others to boost capacity for key stakeholders in the public procurement practice. He urged the federal government to institutionalise the National Conference on Public Procurement (NACOPP), so as to provide a regular forum for advancing the course of procurement reform nationwide.

Ahmadu, disclosed that with support from the BPP and international development agencies, 25 states have so far established their procurement regulatory agencies to enable the agency continually meet emerging challenges. He said the BPP remained committed to working with Permanent Secretaries to ensure that success was continually achieved in the Nigeria procurement system. He said the yearly retreat helps BPP to take stock of progress in the reform and, most importantly, discuss the actions needed for budget implementation in the area of Public Procurement. He reiterated the key roles being played by Permanent Secretaries, who he sees as the Accounting

Officers, in the implementation of the public procurement reform. He added: â€œFederal Permanent Secretaries are recognised as the Accounting Officers in the Ministries under Section 20, Sub-Section 1 of the Public Procurement Act 2007 (PPA, 2007). â€œThis places them at the heart of the procurement process. They take responsibility for ensuring the compliance of MDAs with the provisions of the Public Procurement Act, 2007,â€? he said. Ahmadu, commended the impressive attendance of the different representatives from the federal ministries and BPPâ€™s counterparts from the states was highly commendable despite their very tight schedules.

He said the participants have demonstrated that the betterment of Nigeria through the procurement reform was paramount, adding that public procurement promotes good governance even as the public procurement reform process is receiving the attention it deserves. He said the annual retreat for Federal Permanent Secretaries has made Nigeria to be amongst nations with high regards for transparency in handling procurement demands. Also speaking, Head Civil Service of the Federation, Mrs. Winifred Oyo-Ita, said the retreat has continually helped the participants in executing annual budgets with ease and their public procurement knowledge.

MEDIA BRIEFING

L-R: Director, Human Resources, Accident Investigation Bureau, Mr. Dalhatu Kankangi; Commissioner/CEO, Engr. Akin Olateru and Director of Engineering, Engr. Mohammed Wali, during a media briefing on the release of six accident reports, held in Lagosâ€Śrecently KOLAWOLE ALLI

FAAN Urges ICAO Member States to Collaborate against Terrorism Chinedu Eze The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Saleh Dunoma, has called on member states of the International Civil Aviation Organisation (ICAO) to work together in the fight against terrorism, which he said was the greatest threat against air transport in the world. Dunoma, pointed out that to ensure travellers and airport

users are protected, ICAO had emphasised training of security personnel, using intelligence to avert insider threat, effective communication among security operatives and deployment of modern equipment at airports to ensure prevention of security breaches. The FAAN Managing Director made the call during the inaugural ICAO-sponsored training, at the agencyâ€™s training school, which was designated as ICAO Aviation

Security Training Centre at its headquarters in Lagos late last year. Speaking at the event, Dunoma, who was represented by FAAN Director of Engineering Services, Salisu Daura, noted that the workshop came at the appropriate time considering that civil aviation was increasingly being the target of terrorists, due to the immense impact it has on human, materials and the integrity of the nation involved.

He also noted that risk management remains a critical variable in the aviation industry and enjoined member states to cooperate more to ensure proper coordination in dealing with rising risks and terrorist attacks. Dunoma, disclosed that the FAAN/ICAO Aviation Security Training Centre has the capacity to meet the training needs for the West and Central African regions and to contribute substantially to the development and improve-

ment of aviation security training globally. In ensuring that no country was left behind in the programme, ICAO has designated training aviation training facilities that meet its standards as ICAO training centres. The FAAN training school is expected to cater for aviation security training for countries in West and Central Africa and with the inaugural training, the centre has opened for business.

Adeniyi to Lead Discussion on Non-oil Sector Raheem Akingbolu Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor ((Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

As the debate over proper harnessing of the nationâ€™s non-oil sector continues, the Chairman Editorial Board, THISDAY Newspapers, Mr. Segun Adeniyi, will next month lead discussion on Marketing Nigeriaâ€™s Non-oil sector for sustainable growth and development. He would speak in Port Harcourt, at the annual marketing conference and awards of the National Institute of Marketing of Nigeria (NIMN). The President, NIMN, Mr. Tony Agenmonmen, disclosed this to newsmen in Lagos, stressing that the institute would also hold its

Annual General Meeting (AGM), a day after the conference, on May 10, 2019. Agenmonmen, stated that Adeniyi would deliver the keynote address which would be followed by a moderated panel of discussion. He pointed out that the conference, themed: Marketing Nigeriaâ€™s Non-Oil Sector for Sustainable Growth and Development,â€? was informed by the instituteâ€™s concerted and deliberate efforts at marketing the sector. According to him, there was an urgent need to diversify Nigeriaâ€™s economy from its heavy reliance on oil, noting that at the moment the world was moving away from oil to solar and other sources of

energy. Asked if Nigeria was ready for this change, Agenmonmen said: â€œIt is not about being ready; we have to move away from oil. It is no more about whether the price of oil is going up or it is going down. The truth is that oil is going out of fashion. â€œPeople are driving electric cars, solar energy is being used in many parts of the world, so sooner than we think; oil will go out of fashion. It is better for us, in fact actually, we are late; we should then now double our steps in terms of developing our non-oil exportsâ€? The NIMN President added that marketing Nigeriaâ€™s Nonoil sector would not only help in diversifying the countryâ€™s

economy, it would also make her less vulnerable to fluctuations in crude oil prices. According to Agenmonmen, the conference would be a congregation of marketing professionals from different sectors of the Nigerian economy, other professionals, the academia, government functionaries, students as well as the members of the general public. â€œAs usual, the summary of actionable Conference conclusions will be presented to the government as our input to policy making and executionâ€? he added. Agenmonmen, also noted that the focus of the AGM would be to enable his administration present account of its stewardship for the

year ended December 2018, adding that elections would be held to fill the position of the President and Chairman of Council. The panellists include: the Chief Executive Officer (CEO), Proshare Nigeria Limited, Mr. Femi Awoyemi; the Principal Consultant/CEO, Necci Limited, Mrs. Nkechi Ali-Balogun; the Director Academic Planning, Abia State University, Uturu, Professor Gazie Okpara; the Director General, Nigeria Export Promotion Council, Mr. Olusegun Awolowo; Professor John Otaigbe, Department of Chemistry, University of Port Harcourt and would be moderated by the Managing Director, Nitro 121, Mr. Lampe Omoyele.

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All-Share Index Sheds 1.2% as Equities Market Remains Bearish Goddy Egene Bearish sentiments persisted at the Nigerian equities market last week as domestic investors focused on receiving the dividends paid by banks for the 2018 financial year. Also, the mixed first quarter results announced by companies contributed to the weak demand by investors. While stocks remained attractive due to low valuations resulting from extended bearish run, investors were last week busy at annual general meetings (AGMs) approving dividends already declared for 2018. Most of the shareholders who spoke to THISDAY, said they were more concerned about getting their dividends for now. â€œMy focus is to receive all the dividends declared by the companies, including banks were I have investments. After that I will then look at investing more since most of the prices are very attractive now,â€? an investor said. The Nigerian Stock Exchange (NSE) All-Share Index depreciated by 1.2 per cent last week to close lower at 29,740.41, while market capitalisation shed N123.7 billion to close at N11.2 trillion. Profit taking and sell pressures that persisted led to the market to post losses in two out of the four trading days. Trading activities for the week opened up on a slightly positive note on Tuesday as the ASI marginally advanced by 0.01 per cent. Profit taking in bellwether led to a depreciation of 0.63 per cent on Wednesday. The market recovered on Thursday with a gain of 0.07 per cent before losses by FBN Holdings Plc, Dangote Cement Plc and Guaranty Trust Bank Plc depressed the market by 0.60 per cent. Consequently, the NSE ASI shed 1.2 per cent in the week. In terms of sectoral performance, four sectors tracked depreciation while one appreciated. The NSE Consumer Goods Index declined the most, shedding 2.6 per cent followed by the NSE Industrial Goods Index with 2.2 per cent. The NSE Insurance Index shed 0.9 per cent, while the NSE Banking Index went down by 0.1 per cent. The NSE Oil & Gas Index emerged the lone gainer, appreciating by 0.4 per cent. The bearish trend pervades the African continent as five of the six markets tracked depreciated last week. The Morocco Casablanca MASI Index was the lone gainer, recording 0.5 per cent growth. On the negative side, Ghanaâ€™s GSE Composite led decliners, shedding 2.1 per cent ahead of Nigeriaâ€™s 1.2 per cent. Egyptâ€™s EGX30 fell by 0.6 per cent, while Kenyaâ€™s NSE 20 and Mauritiusâ€™ SEMDEX shed 0.4 per cent each. In Asia and Middle East, the markets showed a mixed performance with three markets closing lower. UAEâ€™s ADX General Index led losers with 1.9 per cent, trailed by Qatar â€™s DSM 20 Index that went down by 1.0 per cent while Saudi Arabiaâ€™s Tadawul ASI lost 0.9 per cent. Positively, Turkeyâ€™s BIST 100 index posted a strong return of 2.5 per cent to lead gainers. Thailandâ€™s SET index followed with a gain of 0.1 per cent. The performance of developed markets was mixed also. According to Afrinvest, in the United States (US) market, the ongoing earnings season has proven to be positive thus far, with technological stocks

exchanged hands in 13,596 deals the previous week. The Financial Services Industry led the activity chart with 587.373 million shares valued at N5.092 billion traded in 8,210 deals, thus contributing 41 per cent and 33.75 per cent to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 326.457 million shares worth N430.320 million in 1,670 deals. The Construction/Real Estate Industry occupied the third position with a turnover of 218.458 million shares worth N4.326 billion in 118 deals. Trading in the top three equities namely, Japaul Oil & Maritime Services Plc, Julius Berger Nigeria Plc and United Bank for Africa Plc accounted for 628.055 million shares worth N671.387 million in 1,810 deals. A total of 4,800 units of Exchange Traded Products (ETPs) valued at N45,578.70 executed in nine deals were traded during the week. No trade was recorded in the previous week. A total of 41,150 units of Federal Government Bonds valued at N43.977 million were traded last week in 11 deals compared with a total of 14,246 units valued at N14.980 million transacted the preceding week in 17 deals.

such as Microsoft, Facebook and Wirecard AG spurring performance. As a result, the S&P 500 and the NASDAQ gained 0.7 per cent and 1.2 per cent in that order. The United Kingdom (UK) FTSE shed 0.4 per cent while Franceâ€™s CAC

40 went down by 0.2 per cent. Hong Kongâ€™s Hang Seng shed 1.2 per cent. On the other hand, Germanyâ€™s XETRA DAX and Japanâ€™s Nikkei 225 appreciated 0.7 per cent and 0.3 per cent respectively.

Market turnover Meanwhile, investors traded 1.432 billion shares worth N15.089 billion in 15,342 deals last week, up from 988.692 million shares valued at N11.432 billion that

Price gainers and losers A look at the price movement table showed that 30 equities appreciated in price lower than 33 in the previous week, while 40 equities depreciated, higher than 33 of the previous week. Dangote Flour Mills Plc led the price gainers with 45.3 per cent as investors swooped on the shares following the news that Olam International Limited, has offered to acquire the firm. In a notification to the NSE last week, Dangote Flour Mills said the total consideration offered by Olam to acquire its five billion shares was N130 billion. Olam, through its subsidiary Crown Flour Mills currently, owns over five million shares of Dangote Flour Mills and is bidding to take over the entire company. The deal, according to Dangote Flour Mills, would be on the basis of debt free, cash free at the end of the transaction, which means working capital and debt value would be net out at the end of the transaction. Japaul Oil & Maritime Services Plc trailed Dangote Flour Mills by 40 per cent, while Cutix Plc chalked up 28.1 per cent. Neimeth International Pharmaceuticals Plc and Royal Exchange Plc garnered 19.6 per cent and 18.1 per cent respectively. First Aluminium Nigeria Plc appreciated by 17.0 per cent, just as Chams Plc added 16.6 per cent. Other top price gainers included: Vitafoam Nigeria Plc (11.1 per cent); Oando Plc (10.4 per cent) and Wema Bank Plc (10.1 per cent). Conversely, Guinness Nigeria Plc led the price losers, shedding 19.0 per cent. May & Baker Nigeria Plc followed with 13.4 per cent. International Breweries Plc depreciated by 13.0 per cent, while Julius Berger Nigeria Plc and Okomu Oil Palm Plc lost 10 per cent apiece. Union Dicon Salt Plc and Premier Paints Plc shed 9.6 per cent each, just as Conoil Plc closed 9.5 per cent lower. Prestige Assurance Plc and Associated Bus Company Plc lost 9.0 per cent apiece.

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Okonkwo: No Bank Should Toy with Cyber Security The Managing Director/CEO, Fidelity Bank Plc, Mr. Nnamdi Okonkwo, in this interview speaks about efforts being taken by the bank to ensure that it actualises its fiveyear strategic plan, through which it aims to break into the league of tier one banks by 2022. Okonkwo also advises banks to take cyber security measures very serious. Obinna Chima brings the excerpts: What is your take on cyber security in the industry and what is your bank doing to remain ahead of such fraudsters? When it comes to cybersecurity, the entire banking industry is as strong as a bank with the weakest security measures. Therefore, no bank should toy with cyber security measures because there is a contagion effect. If fraudsters can penetrate one bank, what it means is that they can also affect other banks. Assuming a big fraud happens in a bank, that bankâ€™s ability to repay my interbank placement becomes jeopardised. That is why it is a combined effort, Indeed, the central bank is very serious about cybersecurity. At the Bankersâ€™ Committee, we have discussed this several times. Therefore, even at regulatory level, there are certain measures you are compelled to take. For instance, building a Security Operating Centre and appointing people with certain qualifications and executive level personnel as Heads of IT Security. This centre helps you monitor on real time basis threats and other things regarding cyber fraud. So, banks are investing heavily to combat that. The central bank has even made it compulsory that Chief Information Security Officers have to be persons at Executive levels. They have also made it compulsory that an Executive Director should be named the Chief Compliance Officer and every bank has compulsorily implemented that. What they are trying to do is to take compliance to the board level. What is your take on the planned introduction of payment service banks in the industry? You know it has been a prolonged push by the telcos to come into the banking space. We donâ€™t have a problem with that. Let them be subjected to the same regulatory conditions that we have, because you are talking about depositorsâ€™ money. So, once all of us are subjected to regulatory control, we will all do banking together. I think the sky is big enough and as banks, we are not sleeping, that is why you see some of us deepening our digital platforms. The performance of the Nigerian stock market has not been impressive and the level of sell-offs have remained high. What is your opinion on this? We just got back from London on a no-deal roadshow and the outlook on Nigeria is quite positive. Indeed, based on some of the sentiments, we were being advised to raise Eurobonds because they want to increase their emerging markets investments especially the fixed income managers. On the performance of the stock market, you know European Central Bank raised rates. So, with the increase in rates, capital will always follow where margins have just increased. People generally move money to those areas just the same way when we had our treasury bills going for about 20 per cent, everybody rushed in. So, that is the constant dynamics of inflows and outflows. How has the journey been for Fidelity Bank Plc? Two years ago, we set out at Fidelity Bank, to drive a five-year strategic plan, beginning from last year, that would see us migrating to a tier 1 bank in the country by 2022. What we actually did was to take the growth rate of the banks that we know are bigger than us that are in tier 1, and measured it against our growth rate, to determine how much we needed to grow for us to break into the league of Tier 1 banks. But remember that as you are growing, those banks already in the tier 1 category are also growing. So, the whole was that on every lane, we determine how much we needed to progress, come 2022, so that we would for instance, be the number six tier 1 bank. But it would be foolhardy to assume that as you are growing, others are retarding. So, that basically is what drives everything we do. This is my sixth year here as the chief executive officer of the bank and by Godâ€™s grace have had

Okonkwo very interesting times and we have largely been able to drive our strategy to the point where the numbers are actually making us feel like we are doing something right, even though we are not yet where we are aiming at. Year-on-year, both balance sheet size, deposit and profitability, we have been growing. When doing this, we keep our eyes on the safety of the bank. So, we are keeping our eyes on capital adequacy ratio, the quality of our loans, and our capital base. It was for this reason that when the Central Bank of Nigeria implemented the IFRS 9, they knew it would hit banks if you had to take the impact once. In Europe, they gave them five years to write off the effect of implementing IFRS 9. In Nigeria, the central bank recently approved four years for banks. But because of our prudence in building up capital buffers, the impact of the IFRS 9 implementation for us was N28 billion. Luckily, we had non-distributable reserves we had built up. So, we debited capital straight on. So, instead of waiting for four years, we took the N28 billion. So, whatever you see today as our capital adequacy is post-IFRS 9 implementation. So, that means that if we didnâ€™t do that, our capital base would be N228 billion, higher than the N200 billion it is presently, which is even a higher increase from where it was five years ago. Those are some of the things we have deliberately been doing. In terms of deposits, last year, we

Two years ago, we set out at Fidelity Bank, to drive a ďŹ ve-year strategic plan, beginning from last year, that would see us migrating to a tier 1 bank in the country by 2022

grew by 26 percent last year. In fact, in one year alone, we grew deposits by about N200 billion. That means our market share is increasing. In the industry, our market share was about 5.4 per cent, but now we are about six per cent. Two years ago, our desire was to make sure that low-cost deposit constitutes a larger percentage of the total deposit. Today, we have largely achieved that as low-cost deposits now constitute about 82 per cent of total deposits. That means that current and savings accounts are major components of our deposits. On governance, you would have noticed how our board has been strengthened. We brought on board some seasoned professionals. For instance, the Chairman of the Board is a former Chief Executive of a bank and a former Deputy Governor of the CBN for 10 years. We also have with us the former Managing Director of Guinness Nigeria and another former MD of a bank. As a deliberate strategy, each time a Director retires, we replace with yet another very experienced one. We also ensure diversity. Every CEO dreams of a board that is competent and independent. We are also very serious about succession. That was why recently, you can see that we appointed three in-house people as Executive Directors at a go, subject to CBNâ€™s approval. That is an outcome of planned succession. Part of what I promised them during my interview to become the CEO of the bank was that one of the things I want to achieve is that each time we have executive vacancies, let us fill it from inside. Not just by quota or anything, it means if we are going to achieve that, we have to groom internal resources. Donâ€™t get me wrong, whenever we have skills gap, we go out and recruit. But deliberate action is that our succession should begin to come from inside. I was very happy that we recently appointed about three persons internally at same time. The good news is that when I was making presentation to the Board Governance Committee on the recommendation

for the Executive Directors, most of them knew the performance and leadership qualities of these people. You might be a first class brain, you might be the most competent banker, if your leadership attributes are weak, we canâ€™t give you executive position because you may sink the bank. And if you are not professional, you cannot be elevated to that level. We are also driving our retail banking business with digital. About 81.5 per cent of our transactions are now done through digital channels. That is why you will see us building just one or two new branches in a year. In the past, we used to do like 15 to 20 branches. I canâ€™t remember the last time I went to commission a new branch or even wrote a cheque. Digitisation has made things more efficient. Still on digitisation, we have also taken into cognisance, customers who may not have data to do their transactions, so we introduced our USSD *770#, which does not require you to have smartphone or data to carry out some banking transactions. This category of customers do not need android phones to operate their accounts, just basic phones. This has made our cost-to-income ratio to improve significantly. Ultimately, our cost-to-income ratio is likely to drop by about 50 per cent by 2022. Digitisation will play a key role in achieving this. Having said this, IT comes with a lot of risks. Any bank that does not pay attention to cyber risks is living dangerously and I doubt if any bank will even try that. Today, Nigeria, in terms of electronic banking is far ahead of most of the European countries and I dare say, even the United States. If you travel abroad, you will see that some of the things you are doing here, you canâ€™t do them here. I am not saying that because I am a Nigeria, but it is a fact. You know, when you have peculiar problems and infrastructural challenges, you CONTINUED ON PAGE 27

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ADEBISE: BANKS MUST BE INNOVATIVE TO REMAIN IN BUSINESS

Okonkwo use the mobile phone. Statistics has even shown us that in some of the areas of the north with security challenges, we have very high adoption of electronic banking, like in Borno state. That is because since people cannot move around, they send and receive money using their phones. That is why in such places you have savings accounts growing. At a point I was wondering why electronic transactions in those areas are high, until we discovered that it was because of security challenges. You were a leading investment bank before the consolidation in the banking industry several years ago, it appears you are de-emphasising corporate banking and paying more attention to the retail arm of your business? We have just appointed a new Executive Director, Corporate Banking and that tells you how seriously we take corporate banking. Fidelity Bank used to be Fidelity Union Merchant Bank and that was why most multinational companies in the country have continued to bank with us. Supporting business in this niche segment comes at is at huge costs. Therefore, building up low cost deposits from the lower end of the market helps support lending to the corporate segment at rates lower that higher risk segments. We have grown our savings deposit account in double-digits for five years now. From N75 billion in January 2014, today it is N226 billion. Now, current accounts, savings and domiciliary accounts, which are all low-cost deposits, currently account for 81.5 per cent of our total deposit base. Therefore, having built up low-cost deposits at the lower end of the market, your being able to serve the upper end becomes easier. So, what are you doing? You are supporting the manufacturers, encouraging more employment and reducing poverty ultimately by supporting those industries. Of course you are helping people earn and disposable income would increase, which they would now spend on the downside of the market. That way, savings would come in, idle and investible funds would come in. You then draw from that again and support the top end of the market. So, it is a combined strategy and we cannot de-emphasise corporate banking at all. This is because that is where you have the real sector playing. Is inorganic growth part of your strategy or do you intend to grow organically? A companyâ€™s strategic initiative for growth might be driven by either organic growth or inorganic growth. Our five-year plan was crafted to be based on organic growth, based on the projections we made. We also purposefully decided that we will not expand outside Nigeria until after 2022. So, our plans are based on organic growth. We also left a window that allows us to take advantage of emergent opportunities though. When these happens, we will sit down and look at them and go back to our Board to see if we need to alter anything to take advantage of such opportunities or to continue with on the organic growth path. Fidelity Bank recorded about 28 per cent growth in deposit in 2018, what were the key drivers of this?

The deposits came from a combination of growth in savings, growth in current and domiciliary accounts. We have a new product where you can transfer foreign exchange with your mobile phone up to the regulatory limit. It means that we have also seen growth in our domiciliary accounts because people built up funds so that when they want to transfer they can easily use it. We also have corporates that are in foreign currencies earning businesses. The increase in oil prices also impacted on our deposit growth as it favoured our oil and gas upstream customers. What are you doing to sustain loans and advances above 10 percent? The environment is so challenging such that growing loans double digit as we have done have prompted some people to ask us: How come we grew double digit. In 2018, we took advantage of opportunities in some sectors to grow loans. For this year we are guiding for between 7.5 to nine per cent. Still talking about last year, a lot of those were to the real sector of the economy which encourages growth and creates employment. What measures have you put in place to ensure that your balance sheet is not threatened in your quest to join the tier 1 league? We are keeping our eyes on our capital, on risk management, on governance and sustained profitability. This explains why, for instance we had enough buffers to absorb the impact of implementation of IFRS9. Do you plan to raise Eurobond to support capital? We do not plan an immediate increase in Eurobond. We are not doing any Eurobond this year but we may consider local bond issue if necessary as part of Tier 11 capital but no size yet. How is Fidelity Bank leveraging ďŹ ntechs to grow its franchise? Under our five-year plan which was crafted in 2017 and commenced on January 1, 2018, we got one of the big four consulting firms to do a full global analysis of Fintechs and how we can collaborate with them. Part of our engagement strategy is partnership. This partnership has been on several fronts including the deployment of a solution for a major customer of ours; an airline. We are bankers to an airline that controls about 40 percent of the industry. Initially, they had challenges with ticketing on the electronic system they were using, and they came to us. Through collaborating with a Fintech, we migrated their entire transactions to the cloud. This has worked so efficiently well in the last one and half years without fail. Aside from partnering with fintechs, we then decided that there was need for us to develop our internal capacities as well. We decided to build a digital lab as part of the outcomes of the strategic studies we had done with the consulting firm in the last six years. Today we have several millennials that are IT savvy, working at solving problems with innovative solutions, under flexible hours and work environment, at our digital lab.

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Many Reforms of Okechuwu Enelamah Bisi Daniels Nearly all four years at the helm of the Ministry of Industry, Trade and Investment, Dr. Okechukwu Enelamah, has been driven by the need to improve Nigeriaâ€™s business environment for sustainable economic growth. â€œWhen I became minister, I promised that my vision for the Ministry is for it to be seen as the Ministry of Enabling Environment,â€? he says. â€œWe aspired to make Nigeria one of the most attractive places to do business in Africa and even the world, by improving the business environment.â€? Backed by President Muhammadu Buhariâ€™s commitment to a more conducive and attractive business environment in Nigeria, the Presidential Enabling Business Environment Council (PEBEC) was established under the chairmanship of Vice President Yemi Osinbajo. As Vice Chairman of PEBEC, the Minister is actively involved in Nigeriaâ€™s ongoing efforts to achieve a sub-100 ranking by the World Bank on Ease of Doing Business. Recently, he was in Lagos to launch the REPORTGOV.NG App, an official public service feedback and complaints platform to support business climate reforms implemented by the Council since 2016. The platform is to facilitate the escalation and resolution of issues encountered with Ministries, Departments and Agencies (MDAs) towards ensuring a more business-friendly environment. PEBEC has also commenced the fourth 60-day National Action Plan (NAP 4.0) on Ease of Doing Business (EoDB). The NAP 4.0 aims to further reduce the challenges encountered by SMEs and businesses in areas such as starting a business; access to credit; paying taxes; enforcing contracts or trading within and across borders; amongst others, by eliminating critical bottlenecks and constraints. The first, second and third National Action Plans resulted in significant progress, and the fourth National Action Plan is anticipated to strengthen these ongoing reforms. The concerted efforts at improving the ease of doing business have paid off. Among the achievements are improvements in Nigeriaâ€™s business regulatory environment. The country rose 24 places from 169 to 145 in the World Bankâ€™s 2018 Ease of Doing Business Index; its highest jump in the history of the rankings. And although Nigeria ranks 146 in the latest Doing Business rankings, the countryâ€™s Distance-to-Frontier (DTF) score, which is the absolute metric, improved from 51.52 in Doing Business 2018 to 52.89 in 2019. In all areas of the Ministryâ€™s mandate, there are ongoing reforms but Enelamah is able to keep his eye on all the balls. The mandate of the Ministry is creating an enabling business environment for businesses to thrive; implementing the Nigerian Industrial Revolution Plan (NIRP); attracting long-term local and foreign investment; encouraging expansion of MSMEs; and promotion of global and regional value chains that enhance trade. One of the silent reforms of the Ministry is in Intellectual property, such as trademarks and patents, an area key to ensuring an enabling environment for business. It entails the development of a National Intellectual Property Policy for Nigeria; modernisation of the legal framework to capture existing treaty obligations of Nigeria; extend the coverage of the law to more recent developments; and the modernisation of the administrative regime for IP in Nigeria. In the past, stakeholders were encountering problems such as delays and lack of clarity about processes, poor state of records, which were not digitised, making for ease of destruction and loss; as well as difficulties with access and retrieval of records. These necessitated urgent transformation of the administrative processes within the Commercial Law Department of the Ministry and, indeed, the structure and operations of the Department. Among the early achievements are streamlining of the Registries as separate Registries (Patents & Designs, and Trademarks) with different registrars in accordance with the Acts establishing them.

Enelamah This has made for better accountability; and the backlog of applications for registration and issuance of certificates for accepted and unopposed applications dating back to 2014 has been cleared by the registries. It has also relieved stakeholders of frustrations and restored their confidence in the registries. For the first time since the Trademarks Act came into force some 51 years ago, an Annual Report on Trademarks has been issued. Total files digitised as at October 31, 2018 was 266,318: made up of 16,650 files from the Registry of Patents and Designs; and 249,668 files from the Registry of Trademarks. The importance of industrialisation in Nigeriaâ€™s economic growth has never been in doubt, yet its contribution to Gross Domestic Product has been low. With a commitment to making Nigeria competitive for local production and thereby increasing the contribution of manufacturing to GDP, the Ministry has been leveraging the countryâ€™s comparative advantage and factor endowments. To accelerate industrial development, the ministry, which has embarked on an aggressive implementation of the Nigeria Industrial Revolution Plan, initiated the establishment of the Nigeria Industrial Policy and Competitiveness Advisory Council aimed at increasing the contribution of the manufacturing sector to GDP by 250 per cent over a five-year period, and establish Nigeria as the manufacturing hub for West Africa, by implementing initiatives aimed at accelerating industrialization, leveraging

The capital needed to transform Nigeria to the country of our dreams cannot be funded entirely by the government so the ministry has reached far and wide across the globe for the needed capital through active partnership with the private sector

uct for micro-businesses across value chain clusters â€“ motorcycle riders, food vendors and petty traders. The fund has eased access to suitable finance by these categories of businesses which in turn will enable them to grow their businesses. It also initiated MarketMoni to provide financial aid for the under-banked and unbanked. This objective is being achieved by providing easy and quick loans at no interest rate. Under the GEM project, a total of NGN 3.7b (USD 12.2m) has been disbursed to 910 grantees via the grant windows, while over 21,191 MSMEs have received technical assistance. And, in partnership with the private sector, the ministry is developing a technology-based MSME solution, known as SME Portal, to ease the operation of businesses across the country. The capital needed to transform Nigeria to the country of our dreams cannot be funded entirely by the government so the ministry has reached far and wide across the globe for the needed capital through active partnership with the private sector. Investment sourcing capabilities of the Nigeria Investment Promotion Commission (NIPC) have been strengthened with a focus on proactively targeting and attracting domestic and international investors and investments. NIPC is also actively providing after-care support for businesses in Nigeria. Recent achievements include the attraction of US$73.08 billion proposed investments for 65 projects in 18 states and the FCT; and the signing of MoUs with United Kingdom, Germany, and China for investment commitments totaling several billions of dollars. To accelerate the Nigeria Industrial Revolution Plan, a project to develop world-class Special Economic Zones to position Nigeria as the pre-eminent manufacturing hub in sub-Saharan Africa, and a major exporter of made in Nigeria goods and services regionally and globally, was initiated. Called Project MINE, (Made in Nigeria for Exports), it is to aid structural transformation of the Nigerian economy by increasing the manufacturing sectorâ€™s contribution to GDP to 20 per cent by 2025; contribute to sustainable inclusive growth by creating 1.5 million new direct manufacturing jobs in the initial phase; and to increase and diversify non-oil foreign exchange earnings to at least US$30bn annually by 2025, by increasing manufacturing sector exports. In February, the Federal Government signed investment agreements with three Development Finance Institutions; Afreximbank, Bank of Industry and the Nigeria Sovereign Investment Authority (NSIA) for the development of the project. The three DFIs are among the five to partner with Nigeria SEZ Investment Company Limited (NSEZCO) and the Ministry of Finance Incorporated. The other investment partners are Africa Finance Corporation (AFC) and African Development Bank (AfDB). NSEZCO intends to raise at least US$500million in equity over the first five years in order to execute its ambitious strategy of becoming the leading investor in special economic zones in Africa. The projects in the pilot phase include Enyimba Economic City, Funtua Cotton Cluster and Lekki Model Industrial Park. Pre-development studies have also commenced in other locations such as Benue, Kwara and Sokoto States and are about to commence in other locations such as Ebonyi, Edo and Gombe States. In recognition of the interrelationship between industrialisation and trade as key drivers for economic growth, the Ministry established the Nigeria Office for Trade Negotiations (NOTN) to address challenges arising from the absence of a coordinated and integrated approach to trade policy negotiations. Laudable as these reforms are, the proof of their desired relevance in the socio-economic development of the country will be their continuity in an environment plagued by policy reversals.

private sector expertise and capital. The Council has made many high-level interventions to address industrial sector issues such as electricity supply, broadband penetration and access roads. A recent example is the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, under which the private sector has committed to sponsoring the construction or rehabilitation of road projects across the country. The Council is also engaged in the implementation of sectoral policies for areas in which the country has comparative advantage such as in agriculture and petrochemicals. Acknowledging the major role of Small and Medium-Scale Enterprises in industrial and economic development, the Ministry made noticeable improvement in access to finance for this category of investors. Numbering over 77 million, MSMEs contribute almost half of Nigeriaâ€™s GDP and employ over 60 million people. In the last four years, there have been sustained efforts to build capacity, increase access to finance and eliminate bottlenecks to conducting business in Nigeria. Some of the achievements in support of MSMES include the inauguration of the National Council on Micro Small & Medium Enterprises (NCMES) for more focus on MSMES. The Ministry has increased access to finance for MSMES by providing capital for both start-ups and expansion through the interventions of the Bank of Industry and the World Bank-funded Growth and Employment (GEM) Project. The Bank of Industry, which is an agency of the Ministry, provides relatively low-interest rate and innovative financing solutions as incentives towards stimulating interest and growth of entrepreneurship. The bankâ€™s disbursements are to 11 sectors, including food processing, agro- processing, healthcare and petrochemicals, solid minerals, N-Power, the creative industry and gender business amongst others. Between January 2015 and October 2018, the bank disbursed a total of N487.5 billion to 3,334 large, medium and small enterprises. The 112billion Government Enterprise and Empowerment Programme (GEEP) fund, which is part of the 500billion National Social Investment Programme, is aimed at providing microcredit facilities to market women, traders, artisans, farmers and agricultural workers at zero per cent interest rate. GEEP is estimated to reach 1million beneficiaries annually. So t%BOJFMT JT UIF 4USBUFHZ BOE $PNNVOJDBfar about 37.72 billion has been disbursed UJPOT "EWJTFS PG UIF .JOJTUFS PG *OEVTUSZ to 1,266 enterprises. The Bank introduced the TraderMoni prod- 5SBEF BE *OWFTUNFOU

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Manufacturing Index Rises Further in April Nume Ekeghe The Manufacturing Purchasing Managerâ€™s Index (PMI) in the month of April, stood at 57.7 index points, indicating expansion in the manufacturing sector for the 25th consecutive month. The index grew at a faster rate when compared to the index in the previous month. According to the PMI Survey report for April 2019, 12 of the 14 sub-sectors surveyed reported

growth in the review month in the following order: electrical equipment; plastics & rubber products; cement; petroleum & coal products; transportation equipment; food, beverage & tobacco products; non-metallic mineral products; chemical & pharmaceutical products; furniture & related products; textile, apparel, leather & footwear; printing & related support activities and fabricated metal products. The paper products and pri-

mary metal subsectors recorded decline in the review period. Also, at 58.8 points, the production level index for the manufacturing sector grew for the 26th consecutive month in April 2019. The index indicated a faster growth in the current month, when compared to its level in the month of March 2019. In all, 11 of the 14 manufacturing sub-sectors recorded increased production level, while three recorded decline.

In addition, at 57.2 points, the new orders index grew for the 25th consecutive month, indicating increase in new orders in April 2019. Also, 10 sub-sectors reported growth, while four contracted in the review month. The manufacturing supplier delivery time index stood at 58.1 points in April 2019, indicating slower supplier delivery time. The index has recorded growth for 23rd consecutive months. Eleven of the 14

subsectors recorded improved suppliersâ€™ delivery time, while one remained unchanged and two recorded decline in the review period. â€œThe employment level index for April 2019 stood at 57.0 points, indicating growth in employment level for the twenty-fourth consecutive month. â€œOf the 14 sub-sectors, 11 reported increased employment level, one reported unchanged employment level while two

reported decreased employment in the review month. â€œThe manufacturing sector inventories index grew for the twenty-fifth consecutive month in April 2019. At 57.5 points, the index grew at a faster rate when compared to its level in March 2019. â€œNine of the 14 sub-sectors recorded growth, two remain unchanged, while three sectors reported declined raw material inventories in the review month,â€? it added.

Dana Air Passengers to Pay Less on Tickets Chinedu Eze Dana Air has announced that its customers would now pay less for tickets with its newly introduced promo, â€˜Cash plus Milesâ€™ for members of its reward program called Dana Miles. The airline said with the new initiative, passengers flying Dana Air, who are also members of the airlineâ€™s Loyalty and Reward programme can now top up their miles balance with a little cash to get low fares 24 hours to their flight. Speaking on the newly introduced product, the Media and Communications Manager of Dana Air, Kingsley Ezenwa, said Dana Air stands out in the Nigerian aviation industry as a world-class brand not because of its on-time performance, topnotch customer and in-flight services, but because of its knack for quality products borne out of the desire to ease booking, provide value added services and simplify processes for its teeming guests. â€˜â€™The good news about the product is that with just 24 hours to your flight with us, you can use your miles to upgrade your ticket from economy class to business class, pay for your excess baggage or top up your miles balance with a little cash for very low fares. â€œThis is another reason why we ask our guests to book ahead and all they need do to visit

our website or chat with us on WhatsApp for details,â€™â€™ he said. Ezenwa, said in addition to that, the airline has also partnered a fast- growing cab company Anu Plus in Port Harcourt to provide its Dana miles guests travelling to Port Harcourt with 50 per cent discount on their cab fares. â€œThe members of the loyalty program willing to take advantage of the reward are expected to download the Anu plus app on google play, IOS, book a ride with the phone number with which they registered for Dana Miles and with their boarding pass to get an instant discount,â€? Ezenwa added. According to him, Anu Plus is a fast growing cab hailing company with a desire to expand across Dana airlineâ€™s existing route network, hence the partnership. â€œFor now, only guests flying to Port Harcourt will benefit first, after which it will expand to Abuja, Owerri, Calabar, Ibadan, and Uyo in the coming months,â€™â€™ he added. Dana Air is one of Nigeriaâ€™s leading airlines with daily flights from Lagos to Abuja, Port Harcourt, Uyo, and Owerri. The airline having flown over 3 million passengers in the last 10 years of its operations is reputed for its innovative online products and service, world in-flight service and on time performance.

Firm Launches New Products, Unveils Brand Ambassador Oluchi Chibuzor Hayat Holdings, manufacturers of FMCGs in hygiene, tissue and home care products like Molfix baby diapers, has launched new range of sanitary pad and baby pants into its list of fast growing brand in the Nigerian market. The official launch of the products which was held in Lagos recently, witnessed the unveiling of a Nigerian Singer, Chidinma Ekile, as the product Ambassador, who will work with the brand in exciting ways through the year. The company said having noticed that consumers of sanitary pads over the years were mostly dissatisfied with other brands in the country, it launched its skinfriendly cotton soft pad for ladies who prefer ultra- soft sanitary and maxi thick pads respectively. According to the Managing Director, Nigeria Hayat, Hakan Misri, â€œMolped range is produced with Nylon free materials and has a breathable back sheet, thus

eliminating the burning sensation while in use and additionally providing a comforting cottony feel and very comfortable in use. â€œWith these features, its high capacity to lock in liquid, thousands of Microholes to increase absorption even in seconds, specially designed channel system, allowing the liquid penetrate through the pad, has up to 100 per cent leak protection handling every ladyâ€™s monthly cycle business. â€œThe Molfix pants which is skin-friendly has color-changing wetness indicator, flexible central elastic system, double absorbent area, anti-leakage elastic barriers and airsoft technology-soft. Breathable waist and body system is design to change the narrative of diaper changing-wars for Mothers who wants more freedom,â€? he explained Earlier, the Global Marketing Director, Ertunga Kut in a speech said, â€œSince coming to Nigeria in 2015, we have kept on growing in leaps and bounds.

HEALTH SAFETY FORUM

Executive Director, WalterSmith Petroman Oil Limited, Peter Ekhaesomhi; Assistant General Manager, Rowland Ogundu and Export Crude/ HSE Manager, Abdil Isa, at the Waltersmith Petroman Oil Limitedâ€™s Annual Health Safety and Environment Week in Imo stateâ€Śrecently

ISPON: Inclusive IT Ecosystem Will Enhance Development Emma Okonji The Institute of Software Practitioners of Nigeria (ISPON) has called for an all inclusive Information Technology (IT) ecosystem for the country, if Nigeria must achieve its digital transformation drive. Members of the institute who made the call in Lagos during the 2019 ISPON Presidentâ€™s Dinner at the weekend, urged the federal government and all software stakeholders to work together and contribute meaningfully to the countryâ€™s IT ecosystem and advance digital transformation in the country. The former Minister of Communications Technology, who is currently the Chairperson of the Global Alliance for Affordable Internet, Dr. Omobola Johnson, who delivered the keynote paper at the dinner with the theme: â€˜Having an Inclusive IT Ecosystem,â€™

said many have questioned at international fora whether the African Digital Transformation drive was a hype or a reality. She insisted that it remained a reality for African countries, especially for Nigeria. She, however, urged the federal government of Nigeria to come up with better policy and regulatory framework that will not stifle technology growth in the country. According to Johnson, â€œNigerian government must focus on Science, Technology, Engineering and Mathematics (STEM) education to drive Information and Communications Technology (ICT) education that will boost digital transformation in Nigeria. Software stakeholders must collaborate with government to design specific training on ICT for young Nigerian start-ups and government must do everything possible to grow the countryâ€™s infrastructure in order to facilitate

national development.â€? Citing China and India that have become strong forces for global technology development, Johnson challenged ISPON to form a formidable force that would promote inclusive IT ecosystem for the country. ISPON President, Dr. Yele Okeremi who gave a retrospect of the Nigerian economy during the oil boom, said since the days of oil boom, the fate of the Nigerian economy became tied to the international price of crude oil, saying as a result of this, the economy became buoyant when international oil prices rises and faces challenges once the international oil price falls. Okeremi, however, said the most important ingredient for a successful IT industry was intellectual capital or knowledge. According to him, IT, particularly the software aspect of it could be pursued effectively

to promote youth development. â€œThere are several ways that the country can catalyse its IT ecosystem to achieve success and become self-reliant and ultimately be a net contributor to the IT economy of the world, as we seek to build the inclusive IT ecosystem for Nigeria,â€? Okeremi said. The President of Nigeria Internet Registration Association (NIRA), Sunday Afolayan, said there must be synergy between the affluent in the society and upcoming start-ups, who need funding to achieve full development. He said unless the affluent Nigerians see the need to fund technology start-ups, they would continue to struggle for years to have a breakthrough. The immediate past president of ISPON, Olorogun James Emadoye, called on government and industry stakeholders to support local content development, especially in software development.

Entry for 2019 SERAS Awards Begins TruCSR, the organisers of the annual sustainability, enterprise, and responsibility awards, also known as The SERAS CSR awards have announced the commencement of the 2019 cycle of the awards process. The award, which is in its 13th year, is believed to have grown to become the foremost platform

promoting and measuring corporate social responsibility and sustainability in Africa and bestowing recognition on the efforts of various organisations based on the impacts of their initiatives. Over the years, the awards have garnered a reputation internationally, and amongst

key industry stakeholders, and business community, as the CSR and sustainability industry gold standard The theme for the 2019 SERAS CSR Africa awards is- â€œDriving Sustainability through Inclusive Growth-Strategic Partnership as key to Unlocking Opportunities.â€? Since inception in 2007, The

SERAS has recorded growing interest that has seen the participation of 180 top organisations across various sectors, 750 entries, and over 1000 CSR projects have been verified with over 240 award categories won by organisations from Angola, Uganda, Kenya, South Africa, Botswana, Ghana, and Nigeria amongst others.

MONDAY APRIL 29, 2019 Ë¾ T H I S D AY

M ONDAY APRIL 29, 2019 Ë¾ T H I S D AY

MONDAY APRIL 29, 2019 Ë¾ T H I S D AY

M ONDAY APRIL 29, 2019 Ë¾ T H I S D AY

T H I S D AY Ëž Í°ÍˇËœ 2019

BUSINESS/MONEYGUIDE

NIPOST Set to Deliver 2000 Outlets for National MFB Nume Ekeghe As part of efforts to boost financial inclusion in the country, the Nigerian Postal Service (NIPOST) has said it will be refurbishing over 2000 of its outlets across the country for the proposed NIRSAL Microfinance Bank (NMFB). According to the Postmaster General of the country, Adebisi Adegbuyi, 106 NIPOST outlets have already been selected for the first phase of the rollout of the NMFB across the country. He said this at a two-day seminar organised by the Central Bank of Nigeria (CBN) for financial journalists, that took place in Gombe. Adegbuyi, who was represented by NIPOST Director,

Finance and Investment, Usman Shaba, noted that the move was in line with the drive for financial inclusion. He said: â€œThe investments made by the government in postal outlets all over the federation in time past would now be put to use to reach the unbanked. â€œA lot of Nigerians are unbanked and these unbanked people are mostly in the rural communities and these postal outlets will be leveraged upon to promote financial inclusion in the unbanked communities. â€œSo what NIPOST is doing essentially is to improve on these outlets. over 2000 of them nationwide to make available as outlets for the commercial banks and in particular the

NMFB.â€? He added: â€œPrior to this, the CBN having looked at the infrastructural spread of NIPOST have granted NIPOST a super-agent licence which makes it possible for NIPOST to render financial services on behalf of virtually all the commercial banks in Nigeria. â€œNIPOST is very ready to deliver the 106 outlets that the NMFB has targeted for take-off. NIPOST officials along with NMFB and CBN have gone through all the regions of the country and the reason why we even selected the 106 is to make sure that each of the outlet we selected are good enough and ready,â€? he stated.

Bankersâ€™Committee Promotes Financial Literacy Omolabake Fasogbon The Bankersâ€™ Committee has trained not less than 62,000 students across the country on financial literacy as part of moves to reduce the unbanked population in the country. The Central Bank of Nigeria had late last year put the number of the unbanked population in the country at about 37 per cent, which is considered the highest in the world. But the committee explained that the move was part of it activities to mark the 2019

Financial Literacy Day and Global Money Week, with the theme, â€˜Learn. Save. Earnâ€™. In executing the exercise, bank CEOs and their employees visited schools across the country to tutor and mentor students and youths on basic money management skills. At the end, a total number of 488 schools in 193 local governments were visited nationwide. Financial institutions selected five schools across the six geo-political areas and their employees taught and engaged students during the campaign.

Speaking on the initiative, the Chairman, Financial Literacy and Public Enlightenment Sub-Committee, Mr. Emeka Emuwa, stated that the exercise was necessary to enlighten the students. â€œThe importance of financial education for young Nigerians cannot be overemphasised. We are proud to see the financial institutions in Nigeria take up the task of educating Nigeriaâ€™s youth on financial literacy, and increasing awareness on the importance of earning, managing and saving money in order to have a secure future.

Fidelity Bank Shareholders Approve N3.2bn Dividend Pay-out Goddy Egene Shareholders of Fidelity Bank Plc have approved the payment of a total dividend of N3.19 billion declared by the board of directors for the financial year ended December 31, 2018. The dividend, which translates to 11 kobo per shares was approved by shareholders at the bankâ€™s 31st annual general meeting (AGM) held in Lagos at the weekend. Speaking at the meeting, National Chairman, New Dimension Shareholders Association, Mr. Patrick Ajudua, commended the board and management for

maintaining a good dividend policy. He also advised the board to adopt strategies that would lead to the sustenance of the growth and profitability of the bank. Also speaking, President of the Nigerian Shareholdersâ€™ Solidarity Association, Chief Timothy Adesiyan, said the bank had maintained steady growth in spite of challenging environment. He commended the bankâ€™s effort in ensuring aggressive loans recovery which impacted positively on its non-performing loan.

â€œWe have a solid bank handled by professionals and our bank is in good hands,â€? Adesiyan said. Addressing the shareholders, the Managing Director/Chief Executive Officer of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, assured them of consistent and enhanced dividend in future. Okonkwo said the bank had paid consistent dividend in the last 12 years, noting that the trend would be maintained. According to him, investment in the bank is the for future, stressing that, the current dividend policy was to prepare for rainy days.

CBN to Unveil Clean Note Policy, Banknote Fitness Guidelines The Central Bank of Nigeria (CBN) has approved the issuance of a Clean Note Policy and Banknote Fitness Guidelines. The guidelines would be launched in Lagos tomorrow. The documents would be unveiled by the CBN Governor, Mr. Godwin Emefiele. The Clean Note Policy provides a uniform standard for the circulation of only clean and fit banknotes in Nigeria; while the Banknote Fitness Guidelines provide the industry with clear and acceptable criteria for determining the quality of banknote in circulation. These documents were developed after extensive

collaboration and engagements with key industry stakeholders under the auspices of the Nigerian Cash Management Scheme, a Bankersâ€™ Committee initiative. â€œThe intention of the Bank is to ensure that unfit, dirty, mutilated and counterfeit banknotes are not in circulation in Nigeria. This is in pursuant to Section 18,20 & 21 of the CBN Act 2007, which prohibits the counterfeiting, sale and abuse of the Naira. â€œThe Bank cannot achieve these objectives without the collaboration of deposit money banks, merchant banks, microfinance banks, government

agencies, Cash-in- Transit (CIT), cash processing companies (CPCs), market associations, merchants/retailers, chambers of commerce and industry, security agencies, currency management equipment manufacturers , bank customers and the general public. â€œThe Bank has developed a mechanism to ensure full compliance with the documents by stakeholders. Compliant channels such as phone and emails would be provided to enable the general public provide information on infractions of the two documents,â€? a statement from the CBN explained.

L-R: Commercial AttachĂŠ, US Mission to Nigeria, Ms. Jennifer Woods; Senior Associate, Intellectual Property Department, Aluko & Oyebode Ms. Nta Ekpiken; Executive Secretary, American Business Council (ABC), Ms. Margaret Olele and Chairman, Anti-Counterfeit Collaboration Nigeria, Mr. Adeola Desmond, during a media parley to commemorate the World Intellectual Property Day in Lagosâ€Śrecently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

NOVEMBER 2018 Money Supply (M3)

31,794,803.44

-- CBN Bills Held by Money Holding Sectors

6,333,064.28

Money Supply (M2)

25,461,739.17

-- Quasi Money

14,773,076.98

-- Narrow Money (M1)

10,688,662.18

---- Currency Outside Banks

1,711,763.59

---- Demand Deposits

8,976,898.59

Net Foreign Assets (NFA)

18,990,400.78

Net Domestic Assets(NDA)

12,804,402.66

-- Net Domestic Credit (NDC)

26,062,986.22

---- Credit to Government (Net)

2,980,229.66

---- Memo: Credit to Govt. (Net) less FMA

7,093,619.43

---- Memo: Fed. and Mirror Accounts (FMA)

-4,144,571.43

---- Credit to Private Sector (CPS)

23,082,756.56

--Other Assets Net

13,258,583.57

Reserve Money (Base Money

6,811,192.37

--Currency in Circulation

2,100,129.91

--Banks Reserves

4,366,259.05

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE Ëœ Í°Íł Í°ÍŽÍŻÍˇ

The price of OPEC basket of fourteen crudes stood at $74.04 a barrel on Thursday, compared with $73.43 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY Ëž Í°ÍˇËœ Í°ÍŽÍŻÍˇ

MARKET NEWS

Oando Sustains Positive Results, Posts N4.6bn Profit in Q1 Goddy Egene Oando Plc has raised investorsâ€™ hope for better returns as it posted improved results for the first quarter (Q1) ended March 31, 2019. The company, which recorded higher profit in 2018 sustained the positive performance in Q1, posting a revenue of N168 billion, up by 12 per cent from N150.6 billion posted in the corresponding

period of 2018. Profit-after-tax increased by 11 per cent to N4.6 billion compared with N4.2 billion in Q1 2018. The Group also decreased its total borrowings by five per cent to N200.9 billion compared to N210.9 billion in 2018 while its long term borrowing decreased to N75.8 billion compared to N76.8 billion. Also, the figures reflected an increase in production by 11 per cent at 43,745boe/day

P R I C E S MAIN BOARD

F O R DEALS

compared to 39,556boe/day in the same period of 2018 in Oandoâ€™s upstream subsidiary. Despite its partial divestment from its marketing subsidiary the company continues to increase its market share in the downstream sector through its trading business, Oando Trading which recorded an 11 per cent increase year-on-year, driven by a strong performance in its crude oil trading division and a three per cent increase

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

in turnover to $312 million, from $301 million. Commenting on the results, the Group Chief Executive of Oando Plc said: â€œOur results reflect the progress made over the last few quarters and provides an indication of our expectation for the year. Now that our debt profile is down by 78 per cent from $2.5billion as of December 2014 to $ 558 million, and our de - leverage programme is 90 per cent

T R A D E D MAIN BOARD

A S

complete with most of our non-core operations divested for good value, we can now focus on steady growth in our upstream entity. â€™â€™ In addition to its positive results Oando has recorded a few milestones in the quarter under review, notably its recent divestment of its 25 per cent residual interest in Axxela Limited to Helios Investment, a leading private equity firm with a focus on investments in

O F

Africa, signifying a complete divestment from its midstream business. According to the company, the move speaks volumes of Oandoâ€™s willingness to restructure its business for increased revenue generation by focusing on its dollar earning businesses, Oando Energy Resources (OER), its exploration and production subsidiary, and Oando Trading its trading business.

2 7 / 0 4 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ MONDAY, APRIL 29, 2019

Monday, April 29, 2019 ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚ͗ >ŽĐĂů ŽƵƌƐĞ WŽƐƚƐ ĞĂƌŝƐŚ

THISDAY AFRINVEST 40 INDEX

WĞƌĨŽƌŵĂŶĐĞ͙ ^/ ŽǁŶ ϭ͘Ϯй t-o-t ĞĂƌŝƐŚ ƐĞŶƟŵĞŶƚƐ ĚƌĂŐŐĞĚ ƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞǆ ; ^/Ϳ ƚŚŝƐ ǁĞĞŬ ĚĞƐƉŝƚĞ ƉŽƐŝƟǀĞ ĞĂƌŶŝŶŐƐ ƌĞůĞĂƐĞƐ ŽĨ ƐŽŵĞ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ůŝƐƚĞĚ ĐŽŵƉĂŶŝĞƐ͘ tĞ ŽďƐĞƌǀĞĚ ƚŚĂƚ ƉƌŽĮƚ ƚĂŬŝŶŐ ĂŶĚ ƐĞůů ƉƌĞƐƐƵƌĞƐ ƉĞƌƐŝƐƚĞĚ ĂĐƌŽƐƐ ŵŽƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ ĂƐ ƚŚĞ

Ticker

Current Price

THISDAY AFRINVEST 40

Price Previous Current Change Price Weightin YTD Change g

ďĞŶĐŚŵĂƌŬ ŝŶĚĞǆ ƉŽƐƚĞĚ ůŽƐƐĞƐ ŽŶ Ϯ ŽĨ ƚŚĞ ϰ ƚƌĂĚŝŶŐ ĚĂǇƐ

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divindend Earnings Yield Yield

ŽŶƐĞƋƵĞŶƚůǇ͕ ƚŚĞ E^ ůů ^ŚĂƌĞ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ϭ͘Ϯй t-Ž-t ƚŽ

1,419.55

-1.01%

-3.3%

42.0%

19.4%

7.0%

5.2x

0.7x

5.7%

1 Guaranty Trust Bank PLC

34.20

-0.9%

19.6%

-0.7%

-0.9%

33.1%

5.3%

5.1x

1.6x

8.0%

19.6%

ƐĞƩůĞ Ăƚ Ϯϵ͕ϳϰϬ͘ϰϭ ƉŽŝŶƚƐ ĂŶĚ zd ƌĞƚƵƌŶ ĚƌŽƉƉĞĚ ĨƵƌƚŚĞƌ ƚŽ -

2 Zenith Bank PLC

21.35

-0.5%

11.8%

-7.4%

2.9%

24.7%

3.2%

3.6x

0.9x

13.0%

27.9% 12.2%

ϱ͘ϰй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞĐůŝŶĞĚ ďǇ EϭϮϯ͘ϳďŶ ƚŽ ĐůŽƐĞ Ăƚ Eϭϭ͘ϮƚŶ͘ ,ŽǁĞǀĞƌ͕ ĂĐƟǀŝƚǇ ůĞǀĞů ǁĂƐ ŵŝǆĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ƚƌĂĚĞĚ ŝŶĐƌĞĂƐĞĚ ďǇ ϮϮ͘ϴй t-Ž-t ƚŽ ϯϬϯ͘ϱŵ ƵŶŝƚƐ ǁŚŝůĞ ĂǀĞƌĂŐĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌĞĚƵĐĞĚ ďǇ ϱ͘ϳй t-Ž-t ƚŽ EϮ͘ϳďŶ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ĨŽƌ ƚŚĞ ǁĞĞŬ ďǇ ǀŽůƵŵĞ ǁĞƌĞ : W h>K/> ;ϯϭϮ͘ϯŵ ƵŶŝƚƐͿ͕ h ;ϵϳ͘ϰŵ ƵŶŝƚƐͿ ĂŶĚ hE/> s Z ;ϴϭ͘ϰŵ ƵŶŝƚƐͿ͕ ǁŚŝůĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ďǇ ǀĂůƵĞ ǁĞƌĞ hE/> s Z ;EϮ͘ϱďŶͿ͕ E/d, ;Eϭ͘ϳďŶͿ ĂŶĚ 'h Z Edz ;Eϭ͘ϯďŶͿ͘

dƌĂĚŝŶŐ ĂĐƟǀŝƟĞƐ ĨŽƌ ƚŚĞ ǁĞĞŬ ŽƉĞŶĞĚ ƵƉ ŽŶ Ă ƐůŝŐŚƚůǇ ƉŽƐŝƟǀĞ ŶŽƚĞ ŽŶ dƵĞƐĚĂǇ ĂƐ ƚŚĞ ^/ ŵĂƌŐŝŶĂůůǇ ĂĚǀĂŶĐĞĚ ďǇ ϭďƉ ĚƵĞ ƚŽ

3 Dangote Cement PLC 4 Nestle Nigeria PLC

186.90

-0.6%

9.2%

-1.5%

0.5%

44.6%

23.2%

8.2x

3.3x

8.5%

1,550.00

0.0%

8.7%

4.4%

5.1%

90.4%

27.8%

28.6x

24.5x

3.8%

3.5%

64.65

-0.5%

4.7%

-24.4%

-15.5%

11.3%

5.0%

29.6x

3.1x

3.8%

3.4%

7.25

-8.2%

5.0%

-8.8%

-9.4%

9.9%

1.1%

4.3x

0.5x

3.5%

23.0%

17.00

0.0%

4.1%

-12.4%

3.3%

3.1%

4.9x

0.7x

2.4%

20.3%

2.9x

0.4x

12.4%

34.4%

0.6x

3.2%

16.2%

7.6%

5 Nigerian Brew eries PLC 6 FBN Holdings Plc 7 Cement Co Northern Nigeria PLC 8 United Bank for Africa PLC

6.85

0.0%

4.0%

-11.0%

-12.2%

15.5%

1.7%

9 International Brew eries PLC

20.00

-4.8%

2.4%

-34.4%

-36.5%

-23.8%

-3.2%

568.00

0.0%

3.2%

-11.3%

-8.5%

9.4%

5.7%

10 SEPLAT Petroleum Development C

13.8%

11 Access Bank PLC

4.9x 6.2x

-1.8%

6.60

-4.3%

3.4%

-2.9%

1.5%

22.2%

2.1%

1.7x

0.4x

10.80

0.5%

2.3%

-22.9%

-24.5%

15.3%

1.2%

2.8x

0.5x

13 Stanbic IBTC Holdings PLC

47.00

0.0%

2.7%

-2.0%

1.2%

34.5%

4.7%

6.6x

2.0x

3.2%

14 Unilever Nigeria PLC

31.00

0.0%

2.1%

-16.2%

12.7%

7.7%

17.3x

2.1x

4.8%

5.8%

15 Lafarge Africa PLC

11.35

0.0%

1.6%

-8.8%

-5.4%

-53.7%

-7.9%

0.8x

12.8%

-55.5%

12 Ecobank Transnational Inc

59.5% 35.2% 15.1%

16 Guinness Nigeria PLC

48.60

0.0%

0.9%

-32.5%

8.5%

4.5%

13.6x

1.2x

3.8%

7.3%

17 Okomu Oil Palm PLC

72.00

-10.0%

1.3%

-5.5%

32.9%

24.4%

11.4x

2.2x

4.2%

8.8%

18 Total Nigeria PLC

182.00

0.0%

1.2%

-10.3%

27.0%

6.6%

7.8x

2.0x

9.4%

12.9%

19 11 PLC

175.00

0.0%

1.2%

-5.7%

38.0%

16.8%

5.8x

2.0x

4.7%

17.1%

16.25

-0.3%

0.9%

-29.7%

-26.8%

6.6%

2.0%

7.5x

0.5x

6.2%

13.3%

2.4x

0.3x

ŐĂŝŶƐ ŝŶ E' D͕ & E,͕ ĂŶĚ h ͘ KŶ tĞĚŶĞƐĚĂǇ͕ ƉƌŽĮƚ

20 Flour Mills of Nigeria PLC

ƚĂŬŝŶŐ ŝŶ E' D͕ E ^d> ĂŶĚ /Ed Z t ƌĞǀĞƌƐĞĚ ƚŚĞ

21 Oando PLC

5.30

9.3%

1.3%

6.0%

10.4%

22 Fidelity Bank PLC

1.94

-1.5%

ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ďǇ ϲϯďƉƐ͘ ,ŽǁĞǀĞƌ͕ ŽŶ dŚƵƌƐĚĂǇ͕ ƚŚĞ

1.1%

-4.4%

11.6%

1.5%

2.3x

0.3x

5.6%

43.4%

23 Transnational Corp of Nigeria

1.12

-0.9%

0.9%

-15.2%

-11.1%

19.3%

4.3%

4.2x

0.7x

2.7%

23.9%

ůŽĐĂů ďŽƵƌƐĞ ĂĚǀĂŶĐĞĚ ďǇ ϳďƉƐ͕ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ

24 Dangote Sugar Refinery PLC

14.25

-3.1%

0.9%

-6.6%

-3.7%

32.6%

16.4%

7.7x

1.6x

7.7%

12.6%

-5.8%

-0.7%

25 Diamond Bank PLC

2.42

^ W> d͕ 'h Z Edz ĂŶĚ ^d E / ďĞĨŽƌĞ ĚĞĐůŝŶŝŶŐ ďǇ ϲϬďƉƐ ŽŶ

26 FCMB Group Plc

1.80

-1.1%

0.6%

-4.8%

0.0%

8.0%

1.1%

&ƌŝĚĂǇ ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŽŶ & E,͕ E' D ĂŶĚ 'h Z Edz͘

27 UAC of Nigeria PLC

6.50

3.2%

0.4%

-33.3%

-31.9%

-9.6%

-4.0%

28 Sterling Bank PLC

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ůĂƌŐĞůǇ ďĞĂƌŝƐŚ ĂƐ ϰ ŽĨ ϱ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĚĞĐůŝŶĞĚ t-Ž-t͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞǆ ĞŵĞƌŐĞĚ ƚŚĞ ůŽŶĞ ŐĂŝŶĞƌ͕ ƵƉ Ϭ͘ϰй t-Ž-t ĚƵĞ ƚŽ ƐƵƐƚĂŝŶĞĚ

0.9%

7.8%

41.6%

0.3x

9.8%

-31.3%

40.4%

0.0%

0.7%

43.7%

9.2%

0.8%

8.4x

0.8x

0.0%

0.4%

-2.0%

37.0%

24.8%

2.5x

0.8x

3.4%

30 NASCON Allied Industries PLC

19.00

0.0%

0.4%

5.6%

47.0%

17.5%

11.4x

4.4x

5.3%

31 Forte Oil PLC

29.20

9.4%

0.3%

1.7%

4.3%

52.2%

5.8%

106.9x

2.3x

32 Union Bank of Nigeria PLC

6.80

0.0%

0.4%

21.4%

6.0%

1.1%

11.9x

0.9x

33 Julius Berger Nigeria PLC

22.50

0.0%

0.3%

11.9%

1.8%

31.5%

3.6%

3.5x

0.9x

ŇŝƉ ƐŝĚĞ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞǆ ĚĞĐůŝŶĞĚ ƚŚĞ ŵŽƐƚ͕ ĚŽǁŶ

36 Wema Bank PLC

0.2%

-21.9%

-23.2%

0.9x

1.6%

0.2%

-2.4%

80.4%

35.8%

11.5x

8.5x

8.5%

8.7%

0.76

8.6%

0.2%

20.6%

6.6%

0.8%

7.9x

0.6x

3.9%

12.6%

5.2x

56.00

0.0%

0.1%

-18.0%

21.1%

14.7%

9.9%

0.4%

127.0%

135.6%

-3.2%

-0.9%

/Ed Z t ;-ϭϯ͘ϬйͿ ǁŚŝůĞ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ƚƌĂŝůĞĚ͕

39 Transcorp Hotels Plc

5.40

0.0%

0.1%

-11.5%

-9.2%

40 AXA Mansard Insurance PLC

2.00

0.0%

0.1%

9.3%

T o p 10 G a i n e r s

10.7%

3.1%

1.0x

2.3%

19.3%

2.2x

1.3%

-1.5%

12.0x

0.7x

2.8%

8.3%

9.5x

1.0x

3.0%

10.6%

T o p 10 T r a d e s b y V o l u m e

P ric e

P ric e C hg %

D A N GF LOUR

15.55

9.9%

N EIM ET H

0.67

9.8%

C UT IX

2.05

T ic k er

Vo lum e

P ric e C hg %

J A P A ULOIL

56.6

7.7%

UB A

30.0

0.0%

9.6%

WEM A B A N K

25.3

8.6%

29.20

9.4%

A C C ESS

18.1

-4.3% -0.9%

OA N D O

5.30

9.3%

T R A N SC OR P

17.3

ĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϴǆ ĨƌŽŵ ϭ͘Ϭǆ ŝŶ ƚŚĞ ƉƌĞǀŝŽƵƐ ǁĞĞŬ

J A IZ B A N K

0.48

9.1%

LA SA C O

11.4

0.0%

ĂƐ Ϯϵ ƐƚŽĐŬƐ ĂƉƉƌĞĐŝĂƚĞĚ ĐŽŵƉĂƌĞĚ ƚŽ ϯϳ ƐƚŽĐŬƐ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘

SOVR EN IN S

0.25

8.7%

Z EN IT H B A N K

11.3

-0.5%

WEM A B A N K

0.76

8.6%

FB NH

6.9

-8.2%

R OYA LEX

0.26

8.3%

FCM B

6.9

-1.1%

J A P A ULOIL

0.28

7.7%

UA C N

5.8

3.2%

dŚĞ ďĞƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ǁĞƌĞ E'&>KhZ ;нϰϱ͘ϯйͿ͕ : W h>K/> ;нϰϬ͘ϬйͿ ĂŶĚ hd/y ;нϮϴ͘ϭйͿ ǁŚŝůĞ 'h/EE ^^ ;ϭϵ͘ϬйͿ͕ D z < Z ;-ϭϯ͘ϱйͿ ĂŶĚ /Ed Z t ;-ϭϯ͘ϬйͿ ůĞĚ ƚŚĞ ůĂŐŐĂƌĚƐ͘ 'ŝǀĞŶ ƚŚĞ ƐůƵŐŐŝƐŚ ƌĞĐŽǀĞƌǇ ŽĨ ƚŚĞ ĞĐŽŶŽŵǇ͕ ǁĞ

T o p 10 L o s e r s

T o p 10 T r a d e s b y V a l u e

T ic k er

P ric e

P ric e C hg %

ĂŶƟĐŝƉĂƚĞ ƚŚĂƚ ƚŚĞ ůŝŶŐĞƌŝŶŐ ďĞĂƌŝƐŚ ƐĞŶƟŵĞŶƚƐ ǁŝůů ƌĞŵĂŝŶ ŝŶ

OKOM UOIL

72.00

-10.0%

ƚŚĞ ŶĞĂƌ ƚĞƌŵ ĂƐ ĨŽƌĞŝŐŶ ŝŶǀĞƐƚŽƌƐ ĐŽŶƟŶƵĞ ƚŽ ƐƚĂǇ ŽŶ ƚŚĞ ƐŝĚĞ-

UN ION D IC ON

12.15

P R EM P A IN T S P R EST IGE

ůŝŶĞƐ͘

Afrinvest West Africa Limited

28.2%

0.0%

15.55

8.4% 8.1%

0.0%

37 Beta Glass PLC

T ic k er

8.8% 0.9%

9.45

38 Dangote Flour Mills Plc

ĂŶĚ : Z' Z ;-ϭϬ͘ϬйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ĂŶŬŝŶŐ

11.9%

34.00

Ϯ͘ϲй t-Ž-t ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞƐ ŝŶ 'h/EE ^^ ;-ϭϵ͘ϬйͿ ĂŶĚ

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ

0.2x

2.73

34 PZ Cussons Nigeria PLC

in WZ ^d/' ;-ϵ͘ϭйͿ͕ > thE/KE ;-ϳ͘ϰйͿ ĂŶĚ & E, ;-ϱ͘ϮйͿ͘

2.4x

13.0% -29.0%

62.75

35 Chemical and Allied Products P

ŝŶĚŝĐĞƐ ƐŚĞĚ Ϭ͘ϵй ĂŶĚ Ϭ͘ϭй t-Ž-t ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůů ŽīƐ

0.3x

29 Presco PLC

ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ K E K ;нϭϬ͘ϰйͿ ĂŶĚ &KZd ;нϴ͘ϯйͿ͘ KŶ ƚŚĞ

ĚŽǁŶ Ϯ͘Ϯй t-Ž-t ĚƵĞ ƚŽ ƉƌŝĐĞ ĚĞĐůŝŶĞƐ in E' D ;-ϭ͘ϭйͿ

41.6%

T ic k er

Value

P ric e C hg %

Z EN IT H B A N K

241.2

-0.5%

-9.7%

UB A

205.6

0.0%

9.40

-9.6%

N EST LE

159.5

0.0%

0.50

-9.1%

D A N GC EM

143.4

-0.6%

A B CTRA NS

0.30

-9.1%

GUA R A N T Y

123.3

-0.9%

FB NH

7.25

-8.2%

A C C ESS

122.2

-4.3%

R EGA LIN S

0.24

-7.7%

IN T B R EW

80.0

-4.8%

LA WUN ION

0.50

-7.4%

FB NH

51.9

-8.2%

ET ER N A

4.35

-6.5%

C A D B UR Y

42.3

3.2%

M C N IC H OLS

0.55

-5.2%

UA C N

38.5

3.2%

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

MONDAY, APRIL 29, 2019 ˾ T H I S D AY

MARKET NEWS

Vetiva Capital Places Buy Recommendation on Banking Stocks Goddy Egene Vetiva Capital Management Limited has issued ‘Buy’ recommendations on Access Bank Plc, FBN Holdings, FCMB Group Plc, United Bank for Africa(UBA) Plc and Zenith Bank Plc. The recommendations which are contained it is Banking report, according to the firm, were based on its implied fair value estimates

for the banks compared to the current trading prices on the Nigeria Stock Exchange(NSE). Similarly, Vetiva has projected a 12.3 per cent growth in gross earnings in 2019 for banks under its coverage. Speaking on the projections, Head of Research at Vetiva, Usoro Essien said: “On a relative basis, banks quoted on the NSE have seen a gradual improvement in

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

P/B multiples, coming from an average of 0.5x in full year of 2016(FY’16) and 0.6x in FY’17 to 0.8x in FY’18. Despite this, the sector is currently trading at a 57 per cent discount to MSCI Emerging Market Banks (1.9x). Amongst our coverage universe, only Stanbic IBTC Holdings (2.0x) and GTBank (1.8x) are trading above book value with respective premiums

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 25Apr-2019, unless otherwise stated.

of 150 prt cent and 138 per cent to the sector average.” In the report, Vetiva also expects non-interest income for its coverage banks to grow faster (20 per cent) in 2019 relative to interest income (10.8 per cent) based on its analysis that income from fees & commissions and derivative transactions will improve and drive non-interest income during the year. With

respect to loan growth, Vetiva projects an average loan growth of four per cent across its coverage banks in FY’19. Speaking further, Essien noted that the current macroeconomic picture, risk aversion by banks to maintain asset quality and attractive yield environment all culminate in Vetiva’s outlook for loan growth, as these will dictate the operating

environment for Banks during the year. “While we acknowledge the fears of weak gross domestic product (GDP) growth by some analysts, we do not harbour similar concerns for FX stability in FY’19, given our current foreign reserve buffers (over $44 billion) and our decent outlook for crude oil prices,” the firm said.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.88 0.83 1.56% ACAP Income Funds 0.63 0.63 12.45% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.09% AIICO Balanced Fund 2.30 2.31 3.16% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 16.55 17.05 -0.23% ARM Discovery Fund 359.68 370.53 0.85% ARM Ethical Fund 29.48 30.37 4.39% ARM Money Market Fund 1.00 1.00 13.23% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 100.63 101.34 -0.55% AXA Mansard Money Market Fund 1.00 1.00 12.78% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.70% Paramount Equity Fund 12.14 12.14 2.36% Women's Investment Fund 106.25 106.78 2.54% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 12.75% Cordros Milestone Fund 2023 98.79 99.23 Cordros Milestone Fund 2028 100.61 101.31 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 13.63% Coronation Balanced Fund 0.84 0.85 Coronation Fixed Income Fund 1.18 1.18 5.23% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,173.61 1,174.43 5.21% FBN Heritage Fund 145.76 146.78 1.64% FBN Money Market Fund 100.00 100.00 13.35% FBN Nigeria Eurobond (USD) Fund - Institutional 118.67 119.17 4.20% FBN Nigeria Eurobond (USD) Fund - Retail 118.57 119.07 4.37% FBN Nigeria Smart Beta Equity Fund 146.86 148.98 -2.09% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 1.18 1.20 -3.11% Legacy Debt Fund 3.37 3.37 3.84% Legacy USD Bond Fund 1.04 1.04 1.48% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 2,989.31 3,021.24 0.20% Coral Income Fund 2,866.67 2,866.67 4.65% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 11.99% Nigeria Entertainment Fund 109.43 109.87 1.77% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 12.33% Vantage Balanced Fund 2.16 2.18 0.40% Vantage Guaranteed Income Fund 1.00 1.00 14.98% Kedari Investment Fund (KIF) 125.44 125.67 0.43%

LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.17 1.19 2.36% Lotus Halal Fixed Income Fund 1,087.79 1,087.79 4.26% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.31 11.40 -1.69% Meristem Money Market Fund 10.00 10.00 11.82% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.27 1.29 3.46% PACAM Fixed Income Fund 11.33 11.38 1.87% PACAM Money Market Fund 10.00 10.00 12.34% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 121.19 121.76 0.38% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 4.31% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,377.80 2,391.22 2.74% Stanbic IBTC Bond Fund 198.50 198.50 4.40% Stanbic IBTC Ethical Fund 0.95 0.96 0.53% Stanbic IBTC Guaranteed Investment Fund 251.89 251.92 1.91% Stanbic IBTC Iman Fund 162.94 164.73 -0.13% Stanbic IBTC Money Market Fund 100.00 100.00 12.71% Stanbic IBTC Nigerian Equity Fund 8,378.98 8,475.60 -1.32% Stanbic IBTC Dollar Fund (USD) 1.11 1.11 -0.24% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.19 1.21 0.18% United Capital Bond Fund 1.67 1.67 4.84% United Capital Equity Fund 0.69 0.71 -2.12% United Capital Money Market Fund 1.00 1.00 13.04% United Capital Eurobond Fund 110.06 110.06 2.61% United Capital Wealth for Women Fund 1.12 1.13 2.87% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.82 10.99 2.48% Zenith Ethical Fund 12.26 12.41 2.65% Zenith Income Fund 21.62 21.62 12.16% Zenith Money Market Fund 1.00 1.00 11.50%

REITS NAV Per Share

Yield / T-Rtn

5.40 120.06 52.31

-44.85% 1.98% 1.10%

Bid Price

Offer Price

Yield / T-Rtn

10.24 105.34 86.25

10.34 107.58 87.83

-2.93% -10.20% -2.74%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.87 6.71 14.03 11.41 153.39

3.91 6.79 14.13 11.61 155.39

-3.34% -11.85% -6.11% -7.60% 6.82%

NAV Per Share

Yield / T-Rtn

106.90

17.40%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

T H I S D AY Ëž Í°ÍˇËœ Í°ÍŽÍŻÍˇ

CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?Ă¤Ă?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ Í‘Í™Í’Í–Í“Í“Í–Í“Í”Í“Í–

Template to Check Kidnapping in Nasarawa Igbawase Ukumba writes that with the new template put in place by the Nasarawa State Police Command, there's hope that the rising wave of kidnapping and robbery will be tackled soonest

One of the suspected kidnappers ďŹ elding questions from journalists during the parade

Some of the weapons recovered from the suspects

s hundreds of families in the state are still nursing the pains of ransom they paid to kidnappers, the reported invasion of the criminals from the Federal Capital Territory and neighbouring Kaduna to Nasarawa State pose a cause for concern because if left unchecked, would have a rippling effect. Kidnapping Galore The recent kidnapping of the wife of the chairman of the correspondents' chapel of the Nigeria Union of Journalists (NUJ), Nasarawa State council, Mrs. Yahanasu Abubakar, and the wife of a former lawmaker in the state, Sidi Bako, is one abduction too many. It is no longer news that the criminals are raiding commuters of their valuables while others end up in the den of the kidnappers, who often request for millions of naira as ransom to free their unsuspecting victims. The worst of all is the seemingly daily kidnapping of expatriates in Nasarawa Local Government Area of the state. It was estimated that over 75 persons have been abducted by the

The rate at which kidnapping and other forms of insecurity are carried out in the state is alarming and needs to be addressed by the Federal Government. I call on President Muhammadu Buhari to address the increasing rate of insecurity in the state and the country at large

The 17 suspected kidnappers and robbers

kidnappers in the local government alone between January 2018 to March 2019. Among others kidnapped in the state included father to the former commissioner for land and survey, Sonny Agassi, and millions paid as ransom to set the old man free from captivity. Another incident was the abduction of mother to Kasim Mohammed Kasim, a member representing Akwanga West constituency in the Nasarawa State House of Assembly. Kasim, an outgoing assembly member, paid N3 million as ransom to save the life of his mother. Also kidnapped in the period under review was Mr. David Ayele, the state house of assembly candidate of the All Progressives Congress for Obi 2 state constituency in the just concluded general election. He was kidnapped few

days to the party's primary election and huge ransom was said to have been paid to the kidnappers before his release. The recent one that shocked Gidan Ausa, a community of Jenkwe Development Area of the state, was the abduction of a Reverend Father, and N2 million was demanded as ransom. It was gathered that the family of Akyala who were directed to carry the money to the kidnappers were nabbed by suspected armed robbers who snatched away the N2 million meant to settle the kidnappers. Similarly, two wives of the Nasarawa State commissioner of Education, Ahmed Tijjani Aliyu, were kidnapped at his abode in Nasarawa Local Government. Sources revealed that the commissioner paid a whooping N3 million before

they regained their freedom. Again in Nasarawa Eggon Local Government, a female politician, Mary Onwugulu, was kidnapped 24 hours to the party primaries. Likewise, a former minister of labour and productivity, Hussaini Zanuwa Akwanga, was a victim of the criminals and was later released after the payment of a heavy ransom. NAWOJâ€™s Appeal Worried by activities of the kidnappers which have plunged the state into chaos, thereby affecting both farming and trading activities across the state, the National Association of Women Jounalists (NAWOJ) in Nasarawa State had condemned in strong terms the abduction of four women in the state by the unknown gun men.

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CRIME&SECURITY The four women, including the wife of the chairman of the correspondents' chapel in Nasarawa State, Mrs. Yahanasu, were abducted by unknown gunmen who shot the vehicle conveying them from keffi to Lafia at about 7pm along Gudi - Garaku road in Akwanga Local Government Area of the state. The Nasarawa State chairperson of NAWOJ, Mrs Tina Cyril, described the incident in an interview with journalists in Lafia as heinous and worrisome. "The rate at which kidnapping and other forms of insecurity are carried out in the state is alarming and needs to be addressed by the Federal Governmentâ€?, she said. She also called on security operatives to speedily rescue the women and arrest the culprits. "I call on President Muhammadu Buhari to address the increasing rate of insecurity in the state and the country at large", she added. The NAWOJ chairperson consequently appealed to the kidnappers to release the victims unconditionally. Effort by Police Despite the recent wave in the activities of these kidnappers across the state, the Nasarawa State Police Command, under the leadership of Commissioner of Police Bola Longe, has however said templates have been put in place to check kidnapping and robbery activities bedeviling the state in the recent times. Longe, who assumed duty in the state in early January this year, disclosed this at the headquarters of the Nasarawa State Police Command, Lafia when parading 17 suspected kidnappers and armed robbers arrested by the command across the state recently, alongside arms and ammunition recovered from them. Among the 17 suspects paraded by the CP include 20-year- old Abdullahi Alhaji Mamman, suspected to be a member of a suspected kidnapping and armed robbery gang, that has been terrorising inhabitants of Toto LGA. The CP also paraded two suspects, Abdullahi Yahaya and Auwal Sale, who invaded the residence of one Saidu Abubakar of Marmara Village, shot sporadically and in the process kidnapped Saidu's wife and took her to unknown destinations. However, the police commissioner said the command police personnel, with the support from vigilante groups in the area, combed the entire bush and arrested the criminals.

The command has been re-strategising how to further check criminal activities in the state, especially armed robbery and kidnapping. The command has put in place several antikidnapping and robbery templates. Not that alone, we want to state without any equivocation that the command has the will, training, logistics and temperament to comprehensively reduce criminal activities to the barest minimum in the state

CP Longe (second left) with some oďŹƒcers during the parade

The recovered vehicle

Longe continued: "On April 3, 2019, information received from patriotic citizens indicated that some suspected Kidnappers and armed robbers were sighted in one of their hideouts at Mararaba Udege, and in strict compliance with the zero tolerance stance of the command as encapsulated in the command's anti kidnapping and robbery templates, the Special Anti Robbery Squad (SARS) operatives sprang into action, isolated and condoned off their hideout located deep into the bush and arrested a 50 years old Umar Hashimu alongside Enogela Andrew and Danjuma Mamudu. "Following a tip-off, an unregistered Nissan Pathfinder, driven by one Ifeanyi Agu, suspected to have been stolen, was intercepted by eagle-eyed police officers of the command on March 19, 2019 in Lafia. On interrogation, the

driver could not give any convincing or reasonable account on how he came about the said vehicle." Others paraded by the command for alleged armed robbery include Sunday Onogwu, Jacob Emmanuel, Tesengo Okure, Muazu Iliya and one simply identified as Mustapha. While Ochebe Joseph, Simon Ameh, Sunday Onoja Amos Ajeje and Yakubu Abubakar where nabbed over alleged membership of cult groups. According to the police commissioner, "the command has been restrategising how to further check criminal activities in the state, especially armed robbery and kidnapping. The command has put in place several anti-kidnapping and robbery templates. Not that alone, we want to state without any equivocation that the command has the will, training, logistics and temperament

to comprehensively reduce criminal activities to the barest minimum in the state." That apart, the police commissioner appealed to members of the public to collaborate effectively with the state police command by giving the command the information that could lead to the arrest of criminals in their communities. Longe also warned criminal in Nasarawa to stop their antics or they would be dealt with in accordance with the provision of the law. "The identity of the giver of such information will be subjected to utmost confidentiality. Such information will assist the command in realising its goal of making Nasarawa a state where criminals will neither hide nor intimidate law-abiding citizens in their goals of self actualisation," he assured.

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MONDAY APRIL 29, 2019 ˾ T H I S D AY

INTERNATIONAL

Rocket Attack Kills Nine, Pope Urges Refugees in Libya Camps Evacuated A rocket attack by a drone operated by Libya’s eastern forces at a military camp in the capital, Tripoli, has killed nine people, an official in the UN-backed rival government said Sunday. The dead included four civilians, who were delivering supplies to the camp when the attack took place late Saturday, said Mustafa al-Majai, spokesperson for the Tripoli-based Government of National Accord (GNA). The spokesman also said that 35others were injured in the attack that also resulted in material damage in an adjacent residential district. So far, there has been no comment from the eastern forces commanded by Libya’s military strongman, Khalifa Haftar. Earlier this month, Haftar ordered his self-styled Libyan National Army to seize Tripoli

from the rival GNA. Both sides have since claimed progress on the battlefield on the outskirts of Tripoli. Haftar’s offensive has raised fears of a worsening conflict in oil-rich Libya, where long-time dictator Moamer Gaddafi was ousted and killed in a 2011 NATO-backed revolt. The fighting near Tripoli has killed at least 278 people, the World Health Organization said earlier this week. Libya has at least two competing administrations including the Tripoli-based GNA led by Fayez Serraj and backed by the UN, and the other in the eastern city of Tobruk, which is allied with Haftar. Meanwhile, Pope Francis has called for the evacuation of refugees held in detention camps in Libya as fighting there escalates.

Speaking at the Sunday Angelus prayer at the Vatican, Francis said the already grave conditions of those in the camps had worsened due to the conflict under way. “I make an appeal that especially the women, children and sick can be evacuated as soon as possible through humanitarian corridors,” he said. Recently, the UN refugee agency evacuated 325 African refugees from a detention centre in southern Tripoli following escalating violence. On Saturday, air strikes hit the Libyan capital as eastern forces loyal to Khalifa Haftar pursued a three-week campaign to take Tripoli. Pope Francis also called for prayers for those who had died or suffered serious damage in the recent floods in South Africa.

Father, Two Brothers of Sri Lanka Suicide Bombings Mastermind Killed in Gun Battle The father and two brothers of the suspected mastermind of Sri Lanka’s Easter Sunday bombings were killed when security forces stormed their safe house two days ago. Police sources and a relative of the suicide bombers revealed this to Reuters on Sunday. Zainee Hashim, Rilwan Hashim and their father Mohamed Hashim, who were seen in a video circulating on social media calling for all-out war against non believers, were among 15 killed in a fierce gun battle with the military on the East coast on Friday, four police sources said. Niyaz Sharif, the brother-in-law of Zahran Hashim, the suspected ringleader of the wave of Easter Sunday bombings that killed over 250 people in churches and hotels across the island nation, told Reuters the video showed Zahran’s two brothers and father. Three of the people killed in Friday’s gun battle were the same people who were seen in the

undated video on social media, in which they discus martyrdom and urge their followers to kill all non believers, police sources said. Sri Lanka has been on high alert since the attacks on Easter Sunday, with nearly 10,000 soldiers deployed across the island to carry out searches and hunt down members of two local Islamist groups believed to have carried out the attack. Authorities have detained more than 100 people, including foreigners from Syria and Egypt since the April 21 bombings. In the video, Rilwan Hashim is seen calling for all out ‘jihad’, or holy war, while children cry in the background. “We will destroy these nonbelievers to protect this land and therefore we need to do jihad,” Rilwan says in the video, sitting beside his brother and father. “We need to teach a proper lesson for these non-believers who have been destroying Muslims.” Authorities suspect there may be more suicide bombers on the loose.

Defense authorities have so far focused their investigations on international links to two domestic groups they believe carried out the attacks, the National Thawheedh Jamaath and Jammiyathul Millathu Ibrahim. Islamic State has claimed responsibility for the Easter bombings, and on Sunday the group said three of its members clashed with Sri Lankan police for several hours in Friday’s gun battle on the East coast before detonating their explosive vests, the militant group’s news agency Amaq said. The group said 17 policemen were killed or injured in the attack, but the Sri Lankan military has denied this. A police source told Reuters two policemen were slightly injured in the battle. Police have said six children were among the other 12 people who died in the gun battle, but have not released further details.

Benin Holds Vote with No Opposition Candidates People in Benin are voting for a new parliament but without a single opposition candidate taking part. The electoral authorities ruled last month that only two parties - both loyal to President Patrice Talon - met the requirements to take part. New electoral laws mean a party had to pay about $424,000 (£328,000) to field a list for the 83-seat parliament. Internet access has been restricted with social media and messaging apps blocked in the West African nation. Five million people are registered to vote in the country, known as one of Africa’s most stable democracies.

Rights activists have criticised a ban and crackdown on peaceful protests by those angered by the opposition’s exclusion as well as the arrests of political activists and journalists. “The growing wave of arrests and detentions in Benin is extremely troubling, particularly in the context of elections,” François Patuel, from UK-based Amnesty International, said in a statement. “Banning peaceful protests and detaining those who speak up against the exclusion of opposition parties from the legislative election will only fuel political turmoil.” Last week, security forces fired tear gas as two former

presidents - Nicéphore Soglo and Thomas Boni Yayi addressed an impromptu demonstration about the elections in the main city of Cotonou. Five years ago voters in Benin, which introduced multi-party elections in the 1990s, could chose from 20 parties for the 83 seats in parliament, AFP news agency reports. President Talon, a former businessman known as the “king of cotton”, came to office in 2016 on a modernist ticket. He says the electoral reforms were intended to bring together the country’s several hundred political parties into streamlined blocs.

MONDAY APRIL 29, 2019 ˾ T H I S D AY

NEWSEXTRA

Saraki Named Ambassador of International Human Rights Commission Deji Elumoye in Abuja Senate President, Dr. Bukola Saraki, has been named an “Ambassador-at-Large” of the International Human Rights Commission (IHRC). This was contained in a letter addressed to Saraki, dated March 16 and signed by the Diplomatic Head of the Commission to Nigeria and other African Countries, Ambassador Friday Sani. The letter stated that sequel to the approval of the World Secretary General of the IHRC, Saraki has been appointed as one of the revered Ambassadors-at-Large of the multinational body.

The letter also alluded to the firm leadership role of the Senate President towards making the National Assembly one of the proactive parliaments across the universe. “While our role as a regional body is to promote and encourage institutions and persons to uphold human dignity across the world, we must not fail to mention the commendation of our Nigerian team over your resolute efforts in the stability of your country and your firm leadership of the Nigerian Senate which is adjudged to be among the most proactive parliaments across the world.

“Besides, the commission is not unmindful of the maturity that you recently displayed in the face of an obvious provocation in your constituency during the last Presidential and National Assembly elections,” Sani further said in the letter. In the new capacity, Saraki is expected to lead the diplomatic team of the IHRC in various diplomatic missions across the world. Saraki had on April 10 in replying the commission’s letter, accepted the nomination of the commission, while also expressing his appreciation to the IHRC for the good gesture.

Fulani Elders Berate Miyetti Allah Ofﬁcial over Attack on Tinubu Fulani elders have distanced themselves from the comments credited to the President of Miyetti Allah Kautal Hore, Alhaji Bello Bodejo, saying he lacked the mandate and moral standing to speak for the Fulani. Bodejo had in a recent interview in a national daily, attempted to whittle down the alleged 2019 presidential bid of All Progressives Congress (APC) National Leader, Bola Tinubu. But in a statement issued yesterday by Concerned Fulani Leaders Forum, and signed by Muhammad Musa Bawa (Manman), from Sabin Garin Nabordo in Bauchi State, the elders alleged that Badejo made the statement to serve some dubious interest. The forum questioned the credentials of Bodejo and slammed him for attempting to arrogate to himself the power of Nigerians to determine who leads them. “In 2015, he aligned himself with the then-governing PDP. To warm himself into the heart of the party, he headed for Aso Rock Villa where he endorsed former President Goodluck Jonathan in the name of Fulani in Nigeria, a crime the Fulani people are yet to forgive him for. He castigated General Muhammadu Buhari, calling him all kinds of unprintable names.

“In the run-up to the 2019 election, Bello Bodejo also made frantic efforts to align with the PDP’s presidential candidate, AlhajiAtiku Abubakar, holding several meetings with him in his Asokoro residence. When all efforts to dupe Atiku Abubakar failed, he resorted to outright blackmail, again saying many unpalatable things about Atiku. “He later made frantic efforts to reach out to Tinubu in January, 2019 to sell himself as someone with mass followers. But his satanic plans couldn’t sail through with a highly-intelligent Tinubu, hence Bello Bodejo’s unprovoked outburst. “Nigerians should know Bello Bodejo through his past antecedents. “On the issue of 2019 he raised, no one can arrogate to himself the power to decide who should lead or aspire to lead the country. The generality of the Nigerian people will take that crucial decision. The way and manner he spoke suggests he is out to play God, which speaks to the creeping-in of early signs of schizophrenia expressed in infantile behaviours. “Tinubu is eminently qualified and well equipped to lead the country irrespective of the thinking of people like Bodejo. Leadership comes from God Almighty alone. Instead of focusing on the many

challenges facing the herders’ community, Bodejo is busy building castles in the air. “He failed to acknowledge the many fine attributes of the APC National Leader. Among other things, it is on record that Tinubu, in his uniqueness of regularly intervening to proffer solutions to problems, sought to find panacea for many problems, including the lingering farmersherders’ crisis in Nigeria. Tinubu singlehandedly sponsored many noble initiatives aimed at fostering peaceful coexistence between the communities in dispute. “He sponsored two days interactive dialogue sessions in Abuja between farmers and herders where the same Bodejo was not only present but stayed till the end. At that time, he would tell anyone that cared to listen that Tinubu was the best thing to have happened to the country. Why the change in posture now, we may ask Bodejo? “It is instructive to note that the Fulani culture abhors shameful and disrespectful conduct, especially in relating to our elders. We call on Bodejo to desist forthwith from using the name of Miyetti Allah to spread his odious gospel of hate. He should tender an unreserved apology to Tinubu.

Ex-CBN Director, Windapo, Dies at 84 Rites of passage have commenced for Adesoye Windapo, who died at the age of 84 years on March 12, 2019. The rites started on April 19 with a Service of Songs at the RCCG House of Praise, Moravia Park Drive, Baltimore, United States. Another Service of Songs by Christ Youths Followers of Bishop Adelakun Howells Memorial Church at 13, Onwufuju Street, Ireakari Estate, Isolo, Lagos, on May 8. It will be followed by a Christian Wake on May 9, Bishop Adelakun Howells Memorial Church, Hogan Bassey Crescent, Surulere, Lagos. On May 10, there will by LyingIn-State at Windapo’s residence, 13, Onwufuju Street, Ireakari Estate,

Isolo, Lagos, while funeral service will hold at 10 a.m. Internment will hold Vaults and Gardens, Ikoyi, Lagos, while reception holds at the Grandeur Events Centre, Billings Way, Oregun, Ikeja, Lagos. Windapo was born into an Anglican family on November 13, 1934. He spent his childhood at Lalupon in Ibadan township area. He grew from very humble beginnings with primary education at St Luke’s School and Agbeni Methodist School. He held a B.Sc. in Economics (Honours) from the University of London. He was a Fellow of the Chartered Institute of Bankers (FCIB), United Kingdom (UK); Fellow of the Chartered Institute of

Bankers (FCIB), Nigeria; Associate of the Chartered Institute of Bankers (ACIB), UK.

Windapo

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NEWSEXTRA

Abba Kyari’s Daughter Passed Stringent Recruitment Process, Says NSIA Ugo Aliogo The Nigeria Sovereign Investment Authority (NSIA) at the weekend clarified that Aisha Abba Kyari, daughter of President Muhammadu Buhari’s Chief of Staff, Abba Kyari, secured her recent appointment as an Assistant Vice President at the agency after undergoing a ‘stringent recruitment,’ which began in 2018. The Head of Corporate Communications at NSIA, Titilope Olubiyi, said the allegations that she was not qualified for the position of an Assistant Vice President (AVP) were based on false information and mischief. Olubiyi faulted insinuations that her appointment could have been influenced by her father. “The clear mischief in the reports can be seen in the very false and unsubstantiated statements it contains. The report claims that AVP is the ‘highest level in the organisation’. This is not only false, but mischievous given AVP is the 9th level out of NSIA’s 22-level grading system.

A civil rights organisation, Coalition Against Corruption and Bad Governance (CACOBAG) had alleged that Abba Kyari’s appointment violated set procedure at the NSIA, adding that her position was not advertised and that she did not meet the criteria for appointment. But investigations revealed that her recruitment did not violate or contravene the set recruitment process at the NSIA, which clearly has a robust and stringent recruitment policy that has enabled it to attract and continue to retain world-class talents. The agency disclosed that Ms Abba-Kyari’s recruitment was based on her application for one of the positions duly advertised by NSIA in mid-2018 while her selection for the post was based on her academic qualifications, as well as international and local work experiences. She also went through an interview process that all staff in her level must pass through, before she was found worthy of the appointment. It was gathered that recruitment into NSIA is deliberately stringent in order

to ensure that only suitable and competent people are on the staff roll of the organisation. This fact is demonstrated in the consistently impressive returns of the NSIA, which has made it one of the best run sovereign wealth agencies in the world. Olubiyi described as false the claim that the candidate’s package was N32 million. She also faulted quotes attributed to NSIA directors in some media reports saying they “are also entirely false.” She said there was no time when any of the directors of NSIA made such statements and neither was there any document to validate the purported accounts as published. “There is no correlation between the recruitment process of the candidate, and the approval process of an ED or Board member. These are mutually exclusive and independent events.” On the allegation that the Board members of NSIA refused to interview Abba Kyari, she also described it as false. “In actual fact, a Board member in the appropriate sub-committee of the Board participated in the process,” Olubiyi added.

UTME: JAMB Uncovers New Scam, Urges Candidates to Keep Registration Number Secret Kuni Tyessi in Abuja The Joint Admissions and Matriculation Board (JAMB) has raised the alarm over the fresh plots being deployed by fraudsters to dupe unsuspecting candidates. The Registrar of the Board, Prof. Ishaq Oloyede, who disclosed this in a weekly news bulletin, released yesterday by the organisation’s Head of Media, Dr. Fabian Benjamin, advised all candidates to “jealously guard their UTME registration numbers and profile codes to avoid falling victim of this latest scam.” The candidates, he added, “should know that what these fraudsters do is to take advantage of their naivety and subsequently obtain their registration numbers with which they print their examination notification slips, which contain the candidates’ phone number and other vital data.

“These fraudsters then use this information to send messages to same candidates disguising as officials of the board or persons who have special information, access and capacity to inflate the candidates’ scores among other things. ”Their strategy is akin to that of a police officer who is unmindful of the fact that he is wearing his name tag on his uniform and when you address him by his name, he is surprised that you know his name.” He added that the fraudsters use the information deprived of the examination notification slip printed, using the candidates’ registration number to open up a line of communication with candidates to dangle the enticing offer of awarding them higher scores in the yet-to-be-released 2019 UTME results among other mouth-watering promises. The registrar advised

candidates to disregard messages or calls from anybody claiming to have access to the board’s classified information. “The board wishes to state emphatically that the results of the 2019 UTME have not been released,” the registrar added. It also urged the public, particularly parents and candidates, to be wary of these dubious elements and disregard any overtures made by anybody touting their power or influence to inflate any candidate’s score. “The board will make it public when the results are ready. As such, the channel through which candidates can view their results has been communicated to them. ” In the meantime, security operatives have picked up some of th e s e n e f a r i o u s characters and they are on the trail of others still at large,” it further added.

Fire Guts Transmission Station in Abuja There was fire outbreak yesterday at a power transmission substation in Apo, a suburb in the Federal Capital Territory. It was learnt that the fire started at about 1.30 p.m. from a transformer in the substation and lasted for some hours The Transmission Company of Nigeria (TCN) confirmed the incident and stated that one of the 45MVA 132/33kV power transformers in the

substation was involved. It said the burnt transformer was part of those that feed the 33kV feeders of the Abuja Electricity Distribution Company. The fire was put off by the combined efforts of the federal, FCT and Nigerian National Petroleum Corporation fire service. “It is, however, still early for TCN to determine if the burnt transformer can be salvaged,” the General Manager,

PublicAffairs, TCN, Ndidi Mbah, said. She said the fire resulted from a direct fault from one of Abuja Disco’s 33kV feeders which had a history of incessant trippings, as the 33kV lacked protection. The transmission company said it was equally investigating the possibility of transformer protection failure on its 45MVA power transformer.

MONDAY APRIL 29, 2019 ˾ T H I S D AY

NEWSEXTRA

SERAP Asks Dickson to Reject Life Pension Bill for Lawmakers

Davidson Iriekpen

The Socio-Economic Rights and Accountability Project (SERAP) has written an open letter to Governor Seriake Dickson of Bayelsa State, urging the governor to reject the proposed life pension bill for lawmakers in the state. The bill, which was proposed last week by the leader of the House of Assembly, Hon. Peter Akpe, will grant life pensions to Speakers, Deputy Speakers and other members. Under the bill, Speakers will go home with N500,000 monthly, while deputy speakers will receive N200,000; 24 other members will each get N100,000. The House is seeking life pensions for members similar to those “applicable to former Presidents, Vice Presidents, Governors and Deputy Governors across the country.” The Human Rights Group in a letter by its Deputy Director, Kolawole, argued that “public officials have a legal commitment to discharge a public duty truthfully and faithfully. Should you assent to the bill as proposed, SERAP will institute legal proceedings to challenge the legality of the legislation and ensure full compliance with constitutional provisions and Nigeria’s international anti-corruption obligations.” “The bill amounts to incorrect and improper performance of

public functions. It’s clearly an abuse of legislative functions by the lawmakers. Rather than sponsoring bills that would improve access of children in Bayelsa to quality education, the lawmakers are taking advantage of their entrusted public positions to propose a bill to collect large severance benefits.” “The lawmakers are clearly the major beneficiaries under the proposed legislation. Therefore, bypassing the life pension bill, the lawmakers of Bayelsa State House of Assembly have violated the constitutional and international prohibitions on conflicts of interest. “The people of Bayelsa would expect you, as their governor, to use your entrusted public office to act in the public interest, by rejecting the life pension bill and prevailing upon the House of Assembly to immediately drop the bill.” “Conflicts of interest, as well as perceptions of such conflicts, would undermine public confidence in the integrity and honesty of not only the Bayelsa State House of Assembly but also your government if urgent action is not taken to prevail upon the House to drop the outrageous bill.” SERAP noted that Bayelsa State has in recent years received trillions of Naira from the federation account. The organisation noted that according to the State Universal Basic Education Board (SUBEB),

over 265,000 Nigerian children lack access to basic education in the state. SERAP said public funds that would be spent to pay life pensions to the lawmakers could be well used to address the problem of the growing rate of out-of-school children in the state. “In the Seventh Schedule to the Nigerian Constitution of 1999 (as amended), you

commit to strive to ‘preserve the Fundamental Objectives and Directive Principles of State Policy contained in the Constitution, [and not to] allow my personal interest to influence my official conduct or my official decisions’. You also commit to: protect and defend the constitution, and to ‘do right to all manner of people according to law [and to] devote me to the service and well-being

of the people of Nigeria’. “Constitutional oath of office requires public officials including lawmakers to abstain from all improper acts, including passing the life pension bill, that are inconsistent with the entrusted positions and the overall objectives of the Constitution. We believe that a false oath lacks truth and justice. The oath statements require the

oath takers to commit to uphold and defend the Constitution.” “Under the bill, former lawmakers, including persons of Bayelsa origin who served in the old Rivers State, would enjoy life pensions for ‘their services’ in the state as applicable to former presidents, vice-presidents, governors and deputy governors across the country.”

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Lawan, Gbajabiamila Buhari’s Preferred Candidates, APC Vice Chairman Insists

Arewa Group Backs Saraki, Berates Tinubu, Pro-Buhari Group

Onyebuchi Ezigbo in Abuja

Segun Awofadeji in Bauchi

The National Vice Chairman of the All Progressives Congress (APC) for the Noth-central, Hon. Ahmed Suleiman Wambi, has said that President Muhammadu Buhari and other party leaders have shown their interest in the emergence of Senator Ahmed Lawan and Femi Gbajabiamila as the next Senate president and House of Representatives’ Speaker, respectively. Wambi who admitted that the selection did not reflect religious equity, said the ruling party took the decision in the interest of Nigeria and to move the country forward. Speaking yesterday during an interview with journalists in Abuja, the APC chieftain said excellence, loyalty and past experiences may have been the qualities that attracted Lawan and Gbajabiamila to the president. “We have not given Ahmed Lawan the position of Senate President because he is from North-east or Gbajabiamila Speaker because he is from South-west, but based on the performance of the party, based on the contribution and loyalty. There was a time Mr. President sent budget to the National Assembly and that proposal was kept there for about seven months. Gbabiamila and Lawan were the ones fighting and because of that they received a lot of frustration, traumatisation and intimidation from the present leadership of the National Assembly.

“So, do you think the party and Mr. President should reward those people? No. We said that despite the fact that the North-west has the president, the South-west has the Vice President, the Senate president is zoned to the North-east, Mr. President felt we should reward Gbajabiamila based on the compelling loyalty and his experience”, he stated. Wambi said the president’s preference for the two lawmakers may be because of their past experiences but that does not mean there are no others with similar potentials. He added, “We are not saying that there is nobody in the Northcentral that is qualified; no. But the issue is that there are certain considerations. We fought for the zone to get Deputy Speaker in the House of Representatives and also Senate Majority Leader in the Senate.” When asked whether the ruling APC put the religion balancing into the consideration, while settling for Lawan and Gbajabiamila who are both Muslims, the APC chieftain said: “You do not understand the political dynamism of our country. Do you think if we concentrate on religion, this country will move forward? We go for excellence sometime; we go for those people who can key into the project of change and deliver. “What do you mean by sensitivity? Between APC and PDP which party is more sensitive? Do you think Muslim or Christianity can provide solutions to the problems of Nigeria?

Group Managing Director, Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru (left), and Chairman/Chief Executive Officer of Lee Engineering, Chief Lee Ikpea, during a facility tour of Lee Engineering’s facilities, in Warri, Delta State…weekend

A group, the Arewa Youth for Peace and Security (AYPS), has commended the Senate President Bukola Saraki on his leadership of the National Assembly, which it said exemplified separation of powers and entrenched democracy in the country. Chairman of the group, Alhaji Salisu Magaji, made the commendation yesterday in Bauchi while reacting to the remark by the national leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, that Senate President Bukola Saraki’s leadership was antagonistic to President Muhammadu Buhari’s administration. Magaji also condemned the statement issued by the Buhari Media Organisation, which was signed by the Chairman, Niyi

Akinsiju, and the Secretary, Cassidy Madueke respectively, supporting Tinubu’s statement. Pro-Buhari group had stated that Saraki’s rejection by the people of Kwara State in the 2019 general election was nemesis for being unduly antagonistic of the President Buhari’s administration. The group stated that unlike his predecessor, David Mark, who had a cordial working relationship with Late President Umar YarAdua and was returned by the people of Benue State, Saraki was on the other rejected “for his self-interested legislation on the country.” Saraki was also described by the pro-Buhari group as a politician who had no grassroots support and lacked control of Kwara State. However, Magaji who spoke at a press conference in Bauchi during the weekend, described the

pro-Buhari group’s condemnation of Saraki as “useless,” saying Saraki is a politician with enormous grassroots base grown beyond Kwara State politics to become a nationalist. Magaji pointed out that no amount of blackmail and campaign of calumny against the office and person of the Senate president can eradicate Saraki’s colourful place in Nigeria’s history. The AYPS coordinator, said: “We the Arewa Youths for Peace and Security are replying the proBuhari group in persons of Niyi Akinsiju and Cassidy Madueke who don’t see the mature way that Saraki is leading the National Assembly. “The way Saraki leads the National Assembly shows that he is a man of his words and core politician. If not because of what happened in Kwara State

in the last election, nobody can fight Saraki because he is beyond the state level, he is a leader who has absolute support and control of the National Assembly. “If you are talking about Tinubu as the leader of the APC, I don’t see how he became the leader of the party. They tried to relegate Saraki and the leadership of the National Assembly but they failed. They have rejected Tinubu’s candidate and the Speaker he is backing. “So if you follow all what is happening in the National Assembly, Saraki is a nationalist, a leader that can be reckoned with, he is in absolute control of the National Assembly and a man of his word. Saraki is a grassroots politician that Nigerians should support because he has done well as governor for eight years and Senate president.”

Ekiti Restores Monarch to Throne After Six Months in Exile Victor Ogunje in Ado Ekiti An Ekiti State monarch and Owalogbo of Ilogbo Ekiti in Ido/ Osi local Government Area of the state, Oba Edward Ajayi, has been restored to his palace after he was banished by his subjects for six months. The state government resolved the crisis rocking Ilogbo, where the indigenes were locked in dispute with Oba Ajayi. The state Deputy Governor, Chief Bisi Egbeyemi, called on the stakeholders in the town to bury the

hatchet and allow peace to reign. Egbeyemi made the appeal shortly after the signing of the Memorandum of Understanding (MoU) to end the crisis last Friday at the Conference Hall of the office of the deputy governor in Ado Ekiti, the state capital. According to a statement issued yesterday by the Special Assistant (Media) to the Deputy Governor, Odunayo Ogunmola, the resolution of the conflict followed the signing of the MoU by parties to the crisis and critical stakeholders in the town. The monarch had been prevented

from entering the town and occupying the palace for the past six months. With the signing of the peace accord, the deputy governor said Oba Ajayi is now free to come back to the throne and resume his royal duties after six months in exile, expressing confidence that the resolution of the crisis will usher in new era of development. Egbeyemi, who noted that it was not easy for the Owalogbo to leave his throne for six months, urged all parties to fulfill the terms of the peace accord and work together

to lift their community to greater heights. He said he state Governor, Dr. Kayode Fayemi, is interested in the development of all communities in the state and would not want to be distracted with one crisis or the other in his desire to better the lots of the people. According to him, “Our government is that of peace; we don’t want crisis or breakdown of law and order in any part of the state. Kabiyesi, you can now go back to your domain anytime you wish.

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NLC Demands Inauguration of Kokori-led NSITF Board Before May Day Allegations against Ngige not factual, says minister’s aide Onyebuchi Ezigbo in Abuja The Nigeria Labour Congress (NLC) has asked the Minister of Labour and Employment, Dr. Chris Ngige to inaugurate the Board of the Nigeria Social Insurance Trust Fund (NSITF) under the chairmanship of Chief Frank Ovie Kokori on or before the 2019 May Day. But in swift reaction, the Special Assistant to Ngige on media, Nwachukwu Obidiwe told THISDAY last night that most of the issues raised by the NLC were not factual. The NLC has also debunked the allegation by the ministry that it imported violent thugs to disrupt the inauguration of the board of NSITF, which was to have taken place on April 18, 2019. In a statement issued yesterday by NLC’s President, Ayuba Wabba, the union said stated that calling the topmost hierarchy of NLC thugs and hooligans is most irresponsible. Wabba said that the labour movement had shown enough patience and understanding with regard to the long delay in the inauguration of NSITF’s board by the ministry, adding that “as a responsible working-class organisation that values the tenets of social dialogue and tri-parties, we had pursued this issue tenaciously for the last three years with relevant authorities without externalising it, despite all our frustrations.’’ Wabba said: “Going forward, the dropping of the name of Mr President notwithstanding, we expect Ngige to inaugurate the Board of NSITF under the chairmanship of Chief Frank Ovie Kokori before the 2019 May Day.’’ However, while explaining its position on the stalled inauguration of the NSITF’s board, Wabba said he and the President of Nigeria Union of Petroleum and Natural

Gas workers (NUPENG), William Akporeha, led other leaders of the labour movement to the venue of the inauguration ceremony. Wabba explained that NLC has statutorily two members in the NSITF Board, which, by law, it is obligated to nominate. He said that they waited patiently for well over two hours for the commencement of the event in the presence of dozens of journalists from various national media houses who came to cover the event, stating that DSS operatives were also on the ground as well as the police. “The fact that there was not even a single reported incident of breakdown of law and order, or the arrest of any person for unruly behaviour, is a categorical attestation to the peaceful and calm manner in which all those who came for the occasion conducted themselves,” Wabba said. He described the statement issued by the ministry, accusing NLC of bringing thugs to disrupt the scheduled inauguration, as “unbelievable barefaced lies and uncouth language.’’ On the delays in inaugurating the board of the NSITF and reported removal of veteran labour leader, Frank Kokori - as its chairman, Wabba said NLC had protested the delay of the inauguration of the NSITF’s board after its constitution by the federal government, which prevents NLC and NECA from participating in the governance processes in the place, as well as “creating problems in the operations of the trust fund Pensions, a PFA, which NLC and NECA along with NSITF have shares in.’’ He said the labour group had written a protest letter, urging the Secretary to Federal Government (SGF) to intervene by directing the immediate inauguration of

Some Politicians Frustrating me, Ikeja Oba-elect Alleges Kayode Fasua The riveting crisis over the Obaship stool in Ikeja community of Lagos State took another dimension at the weekend as the Oba-elect, Prince Samsondeen Adeleye, accused authorities of Ikeja Local Government Area of slowing down the process of his installation to please vested interests. Adeleye was nominated Oba-elect by the community’s kingmakers headed by a former Deputy Governor of the state, late Chief Rafiu Jafojo, five years ago. Expressing frustration in a chat with THISDAY, Adeleye said information at his disposal indicated that the state government was willing to install him but that some highly placed politicians led by a former female commissioner in the state, who hails from Ikeja, were making negative recommendations to the state government. According to him, “The truth of the matter is that the kingmakers, about five years ago, sent my name to the Ikeja Local Government Area as Oba-elect after having met all the conditions under native rites and

tradition, but this former female commissioner has been frustrating my installation. “It’s also disappointing that she has a willing tool in the current leadership of Ikeja LGA at a time the state government is ready to implement the recommendation of the kingmakers. They renewed their war against me when the state government invited me to a public function in my capacity as the Oba-elect recently. “I am surprised that the local government chairman can look on while this injustice is taking place.” Complementing him, a leading kingmaker in Ikeja, the Eletu Idibo, Chief Maruf Balogun, insisted that Adeleye remained the kingmakers’ choice. Speaking with THISDAY, Balogun said: “We made our choice of him known about five years ago after having consulted the Ife oracle which approved of his choice, and he was the only prince from the next ruling house who wrote us a letter indicating his interest in the throne.”

the NSITF. It also urged the SGF to halt the move by the NSITF establishment to appoint new directors of NSITF to Trustfund Pensions until a fully constituted board is effectively in place.

On the minister’s position that NLC has recommended someone to replace Kokori on the board of the NSITF, Wabba said nothing of such happened. Wabba accused Ngige of frustrating its efforts to get the

NSITF’s board inaugurated in order to further consolidate his grip on the fund. According to Wabba, the minister had constituted a nine-member administrative panel of enquiry into NSITF’s

finances, and forced the organisation to release N18 million to do a probe that the EFCC had already done, as part of its antics to continue running its affairs as a sole administrator.

HONOURING GAIDAM...

Yobe State Governor Ibrahim Gaidam (left), receiving a letter of conferment of title of Shettima Mafatihuma of Machina from the Emir of Machina, Alhaji Bashir Albishir Bukar Machinama, during the closing ceremony of the annual Machina Cultural Festival in Machina town ...yesterday

Dickson: Ijaw People Most Oppressed in Nigeria Emmanuel Addeh in Yenagoa The Governor of Bayelsa State, Seriake Dickson, at the weekend maintained that the Ijaw people were the most oppressed in the country, lamenting that persons of Ijaw descent are only given pipelines surveillance jobs, despite their huge contribution to Nigeria’s wealth. He advocated mass education as the effective solution to the deprivation of the Ijaws and indeed the Niger Delta people, urging parents to ensure they send their children to school. The governor said that the Ijaw people whose environment produces the resources that have sustained the economy of the country had been deprived and

shut out of the oil economy. Dickson was speaking at the 25th Coronation Anniversary Celebration of the Paramount Ruler of Seimbiri Kingdom, King Charles Ayemi-Botu, in Okpokunou, Delta State, a statement by the governor’s Special Adviser on Media Relations, Mr. Fidelis Soriwei, said. He said that the Niger Delta people had been reduced to the level of seeking only surveillance contracts in spite of their status as the producers of oil. He warned those who have promulgated laws to foist oppression on the Ijaw ethnic nationality to watch out for a new generation of Ijaw children who are beneficiaries of the

deliberate investments being made by his administration in education. Dickson called on all Ijaw people in the six states to which they are indigenous to give priority to the pertinence of education as a tool for economic emancipation and development. “I have told the world, that the country that has been oppressing our people, you have done your worst; people are deprived; rendered almost to the level of only seeking surveillance contracts and oppressed. But I have told them that with the investments we are making in education, watch out Nigeria, watch our oppressors, for Ijaw people and their children

are coming. “And I say to all of you here, those who can go to school, please go to school for there is no other way out. We are in a problem; they have impoverished us because we were not there when this country was formed and decisions were taken to our detriment . “They don’t care whether we exist or not and I won’t get tired of talking, in office or out of office, so go to school. There are schools, a lot of schools in Bayelsa, come to Bayelsa, the scholarship provision we have made are not just for Bayelsans but for the entire Ijaw Nation so come and take advantage” he said.

NEMA Donates Relief Materials to Persons Displaced by Herdsmen in Nasarawa Igbawase Ukumba in Laﬁa The National Emergency Management Agency (NEMA) yesterday donated relief materials worth millions of naira to persons displaced by suspected Fulani herdsmen in Andaha community of Akwanga Local Government Area of Nasarawa State. Suspected herdsmen reportedly attacked Numa-Kochu village in Andaha community of Akwanga LGA of the state killing 17 Mada natives at a naming ceremony. The killings, however, created panic in the surrounding villages of Andaha community, causing

2,563 inhabitants of the community to relocate to safer places within Akwanga LGA. It was against this backdrop that NEMA donated the assorted relief materials for onward distribution to the displaced persons in order to bring succour in the affected community. Speaking when donating the relief materials to the displaced persons in Akwanga, the Director of Planning and Research of NEMA, Kayode Fagbemi, said the donation was an intervention by the federal government to the displaced persons. Fagbemi said the relief materials

donated would be distributed directly to the displaced persons by NEMA officials in conjunction with the senator representing the Nasarawa North senatorial zone, Philip Gyunka. Also speaking, Gyunka called on the federal government to beef up security in the affected community to enable the displaced persons back to their places of abode and continue with their farming activities. Gyunka expressed worries that the entire Andaha community was in trauma as a result of the unprovoked attack on them by the suspected Fulani herdsmen.

He then added that there was the need for the federal government to mobilise military personnel to the surrounding villages of the Andaha community to encourage the displaced persons, who are farmers, to go back to their villages and resume farming now that the rains have begun. The relief materials donated to the displaced persons were pieces of blankets, nylon mats, wax prints, bundles of zinc, bags of maize, rice and cement; cartons of nails among other assorted relief materials.

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Awujale Seeks Greater Investment in Education Ugo Aliogo As the administration of President Muhammadu Buhari continues in its efforts to achieve good governance, the Awujale of Ijebuland, Oba Sikiru Adetona, has called for increased commitment to the education sector, noting that education has a pivotal role to play in the quality of governance. According to a statement made available to THISDAY by the organisers of the Oba Sikiru Adetona professorial chair in governance annual lecture series, with the theme; ‘Grassroots Governance: the Soft Underbelly of Nigeria’s Political Architecture’, it was noted that the annual lecture which is in its third year

would take place on May 10 at Adeola Odutola Hall, Ijebu-Ode, Ogun State. Adetona in the statement expressed hope that Nigeria can make giant strides in the area of good governance, stemming from quality education, research, mentorship and community engagement. He pledged commitment to support the management of Olabisi Onabanjo University to continue producing leaders moulded for good governance. “Education has a pivotal role to play in the quality of governance. That was the reason behind lending my little support. I want to take this opportunity to reiterate my desire to help the Olabisi Onabanjo University,

Ago Iwoye, to continue a line of production of leaders moulded for good governance,” he noted. The lecture which will be delivered by the occupier of the chair, Prof. Ayo Olukotun, will focus on the issues and challenges of governance in Nigeria. According to the statement, there will be an elite panel of discussants, which will include the Presidential

candidate of the Young Progressive Party (YPP), Prof. Kingsley Moghalu and Prof. Remi Sonaiya, who will share their perspectives on the subject matter. The Vice-Chancellor of the Olabisi Onabanjo University, Prof. Ganiyu Olatunji Olatunde, in the statement described the annual lecture as a legacy that would continue to drive greatness

in not just the university, but the society. He added: “Since the inception of this initiative, the university has improved on her research activities in the quest for excellence and we are optimistic we will continue to thrive in good governance, corporate and political leadership to fertilise the students, staff and indeed the entire university

community with a view to raising and unleashing good governance champions on the Nigerian community.” The statement added that over the last three years, the lecture which was held on May 10 to coincide with the birthday of Adetona, has grown to become an important discourse for championing effective governance in the society.

Expect Revolution in Civil Service, Ganduje Tells Workers Ibrahim Shuaibu in Kano Kano State Governor, Dr. Abdullahi Umar Ganduje yesterday promised to introduce innovations that would encourage workers’ productivity and ensure that civil servants remain focussed and committed in the discharge of their duties. Ganduje who spoke during a symposium organised by the Nigeria Labour Congress (NLC) as part of events to mark the 2019 May Day, decried what he described as parasitic relationship between civil servants and the government whereby some workers collect salary without doing the job. The governor told workers in the state to expect a revolution within the civil service system. He promised to continue to promote and protect the welfare of workers in the state, but warned that, “Kano State government will introduce innovations to ensure that there is job satisfaction, job engagement, job enlargement and job improvement. “We will ensure that every civil servant has a job to do to commiserate with his or her pay package. Our administration is based on e-governance where technology is used to ensure adequate collection of data and as well bring out the best in workers and enable them work in line with international best practices.” He also promised to sponsor the first ever International Symposium to mark the 2020 May Day in the state where world leaders would be invited to discuss issues concerning

welfare and productivity of workers. “Next year, we shall make this symposium an international event. We shall invite world leaders and labour leaders where within and outside Africa to speak on labour matters. “We shall make it a worthwhile international event where we learn and compare notes on policies regarding to labourgovernment cordial relationship and it can be used to improve socio-economic development of our state, and our country at large.” “May Day celebration started here in Kano. Having taken note of that, we as a government decided give May Day more colours and more improvements. We decided to make May Day celebration more interesting from time to time. We have asking introduced an award night where outstanding civil servants would be appreciated.” In his address, the NLC President, Ayuba Wabba, described Ganduje as a labour-friendly governor who has always responded positively to the demands of workers in the state. He also hailed Ganduje for being among the first state governors to have agreed to pay the N30, 000 national minimum wage, and urged workers in the state to live up to expectations, while discharging their duties. Delivering a paper entitled, “Effective Employment Engagement: A Catalyst For Higher Productivity,” Mukhtar Shehu of the Department of Business Administration, Bayero University, Kano, pointed out the need for workers to remain committed and productive, while discharging their duties.

Baba Aladura Erujeje is Dead With gratitude to God, the family of Baba Aladura Erujeje has announced the passing away of Baba Aladura Erujeje who died yesterday, Sunday 28, 2019, at the age of 120 years. He was the Leader of the Church, Cherubim and Zeraphim at the Orudu/Agira

in Ogun State. He was the oldest person at Orudu/Agira Village in Ifo Local Government Area in Ogun State. He is survived by many children and great grandchildren. The final burial arrangment will be announced by the family very soon.

BUSINESS LUNCHEON…

L-R: Director General, Nigerian-American Chamber of Commerce (NACC), Joyce Akpata; Country General Manager, IBM Nigeria, Mr. Ernest Oladipo Faulkner; President, Nigerian-American Chamber of Commerce, Oluwatoyin Akomolafe; and Chief Executive Officer, American Business Council, Margaret Olele, at the NACC April 2019 Business Luncheon held in Lagos… recently

Alleged Forgery: Two OsunVoters Ask Court to Sack Adeleke from Senate Two voters in the Osun-West senatorial district of Osun State have asked the Federal High Court in Abuja to sack Ademola Adeleke as their senator for allegedly misleading them to voting for him. Their request was anchored on an April 2, 2019 judgment of the High Court of the Federal Capital Territory, which ruled that Adeleke did not possess a school certificate. The plaintiffs, Akinwale Olaniyi and Akinjide Monsuru, from Egbedore and Irewole local government areas in Osun-West Senatorial District, said they were misled into voting for Adeleke. They stated in the suit, marked FHC/ABJ/ CS/462/2019, filed

on April 26, 2019, that they voted for Adeleke because he claimed to have lived and schooled in the United States of America. The plaintiffs said they felt let down, fooled and were devastated when a high court of the Federal High Court in Bwari, Abuja found, in a judgment delivered that Adeleke presented fake credentials to INEC for the election. They prayed the court to declare, among others, that by the provisions of Sections 65(2)(a)of the Constitution and 31(6) of the Electoral Act and the judgment of the FHC High Court, Adeleke was not qualified to have contested the senatorial election.

The plaintiffs also urged the court to void the declaration of Adeleke as the winner of the said election in view of the court judgment and the provisions of Sections 65(2)(a) of the Constitution and 31(6) of the Electoral Act. They asked the court to order INEC to withdraw the certificate of return issued to Adeleke and to give a perpetual order of injunction restraining Adeleke “from parading himself as a senator representing OsunWest in the Senate.” The plaintiffs equally asked the court to order Adeleke to refund all that he earned while he occupied the seat and to restrain the Senate President

and the Senate from further recognising Adeleke as a senator. But in a statement issued yesterday by one of Adeleke’s lawyers, Niyi Owolade, Adeleke said “the purported voters, who filed the suit are proxy forces” of the All Progressives Congress and Osun State Governor, Gboyega Oyetola. Adeleke accused Oyetola and the APC “of waging futile legal harassment following signs of an imminent end to their usurpation of Osun governorship seat. “The initial judgment that this irritating suit is based on has been widely condemned, especially as the document wrongly declared as forged was duly issued by the authorities of the school.

Niger PDP Probes Members over Outcome of General Election Laleye Dipo in Minna Few months after the completion of the general election in the country, the Niger State chapter of the Peoples Democratic Party (PDP) has embarked on the probe of its personnel and activities during the election. The investigation is covering all aspects of the activities of the party, including disbursement of campaign funds before, during and after the election. The panel is headed by a former state Head of Service and a chieftain of the party, Alhaji Halidu Khadi Kuta, with Alhaji Abdullahi

Garafini as secretary while the eight other members were drawn from the three senatorial zones of the state. A document to this effect made available to THISDAY in Minna at the weekend indicated that the state Chairman of the party, Alhaji Tanko Beji, recently inaugurated the panel which has already started meeting in the conference room of the state secretariat. The document titled: ‘Post Election Review Committee, Call for Memorandum’, signed by the Chairman of the committee, Alhaji Halidu Khadi Kuta, itemised eight terms of reference which the panel

was to look into. Among them, according to the document, was to review the performance of the party during the election, look at the preparations and buildup of the party to the election as well as ascertain the degree of anti-party activities and sabotage that may have contributed or affected the fortunes of the party in the election. It was also learnt that the panel would look into “fund distribution procedures” as well as identify different organs of the party that did not perform their role The document also showed

that the committee would advise the party leadership on how to raise funds to run its activities ahead of the 2023 general elections. It has three weeks to complete its assignment. The chairman of the committee could not be reached for his comments but the state Chairman, Beji, confirmed the story. Beji described the setting up of the committee as”a normal exercise,” adding that as a political party, “we should be able to appraise our self.” The PDP lost all the elections held in the state between February and March this year.

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FG Seeks Private Sector Involvement in Funding Military Research NAF to build made-in-Nigeria aircraft Navy recovers metal barge with 900,000 litres of crude oil Kingsley Nwezeh in Abuja The federal government has called for the involvement of the private sector in funding military research initiatives in order to build a self-reliant military institution. This is also against the backdrop of its promise to provide support for the Nigerian Air Force to produce the first made in Nigeria aircraft. Also, the Nigerian Navy has said it discovered an unmanned, floating metal barge and wooded boat in Bolo Creek laded with 900,000 litres of stolen crude oil. Speaking at an exhibition event of local technology to mark the 55th anniversary celebration of the Nigerian Air Force, Vice President Yemi Osinbajo, called for more collaboration and partnership in order to make the military a self-reliant institution. “I recollect that in February 2018, the Nigerian Air Force was able to induct into the service, an indigenous Unmanned Aerial Vehicle. I am equally aware of the efforts in collaboration with other partners to produce the first ever made in Nigeria aircraft at the Air Force Research and Development

Centre in Kaduna. “I also took particular interest in the recent rehabilitation of the machine tools workshops at Nigerian Air Force Base, Makurdi and 631 Aircraft Maintenance Depot Ikeja by the Nigerian Air Force, in collaboration with Oshogbo Machine Tools and the University of Maiduguri. Without any doubts, such research and development initiatives are critical to the service as well as to the country”, he said. “Furthermore, I am highly pleased to note the collaboration between the Nigerian Air Force, other members of the Armed Forces, our universities and the other bodies participating in this exhibition. I strongly believe that if we can successfully harness our efforts as a nation, there is no challenge that we cannot surmount”, he said. He therefore called on stakeholders to engage in fruitful collaborations that would provide funding for military research and development. “May I seize this opportunity to call on all stakeholders to embark on fruitful collaborations and joint partnerships to fund more research

and development activities in the country. To consolidate on these modest achievements, I wish to appeal to other public and private organisations to hold this sort of exhibition that will promote research and development efforts. “In line with our policy to promote local content, I would like to assure you that this administration shall encourage and support all meaningful civil-military research programmes towards making our armed forces more self-reliant”, he said. Earlier in his remarks, Chief of the Air Staff, Air Marshal Sadique Abubakar, said research and development globally has proven to be the catalyst for technological and industrial advancement, adding that was a consensus among scholars that national development could best be enhanced through indigenous

research and development efforts. “Recognising these facts and realising that the effectiveness and sustainability of the Nigerian Air Force, in the long term, would be largely influenced by the growth of home-based technology, the service has placed emphasis on research and development as a means of building indigenous technological capacity”, he said. Meanwhile, the Nigerian Navy said it discovered an unmanned metal barge and wooden boat floating along Boro Creek laden with 900,000 litres of crude oil. A statement issued by the Naval Headquarters in Abuja, said there was nobody on board at the time of recovery. “The Nigerian Navy wishes to inform the public that it discovered a metal Barge MV JOSH 1 and a wooden boat drifting along Bolo Creek and

recovered them on January 29, 2019. “The barge and wooden boat were laden with an estimated 900,000 litres of a substance suspected to be stolen crude oil and 2,500 litres of product suspected to be illegally refined AGO. There were no suspects onboard the vessels at the time of the recovery”, it said. The Navy stated that “in accordance with part 6 paragraph 17 of the Harmonised Standard Operating Procedures on Arrest, Detention and Prosecution (HSOP-AD&P) of Vessels and Persons, owners of the vessels are to note that “In the event of failure to reclaim seized and detained vessels by its owner for a period of 12 months, the agency in custody of the seized items as the case maybe, shall reserve the power to obtain an order of

forfeiture and disposal from a court of competent jurisdiction”. The statement signed by Commodore Suleman Dahun on behalf of the Chief of Naval Staff further said: “Accordingly, the general public is hereby notified that the Nigerian Navy will keep the Barge and wooden boat in its custody for a period of six months effective from the day of recovery. “At the expiration of the six months period, it will hand over the vessels to EFCC to obtain forfeiture order in accordance with the law in the absence of any claim of its ownership. “Consequently, owners of the vessels are advised to come forward and reclaim ownership of the vessels, failing which it will be handed over to the EFCC to obtain forfeiture order.”

Glo is Game Changer of Nigeria’s ICT Industry, Says ALTON Chairman EstherOluku It was another glorious moment for the grandmaster of data, Globacom, at the 10th anniversary of the Beacon of Information and Communication Technology (BoICT) Awards as it clinched the ‘Most Innovative Mobile Player of the Year’ award at the colourful ceremony in Lagos. The ceremony was attended by the leaders of the nation’s ICT industry. Globacom was also inducted into the ICT Hall of Fame at the event for its remarkable contributions to the growth of Nigeria’s telecommunications sector. Presenting the award to Globacom’s representatives - Head, Enterprise Solutions, Eric Uwaoma; Oluwakemi Akinyele of Training Development Unit; and Head, Mobile Money, Raj Narayan, at the ceremony, the Chairman,Association of Licensed Telecom Operators of Nigeria (ALTON), Mr. Gbenga Adebayo, described Globacom as the game changer of the industry. Adebayo, who traced the trajectory of Nigeria’s telecommunications industry from the analogue dispensation to the present Digital Switch Over (DOS) era, noted that but for the rule-changing innovation of Per Second Billing (PSB) system introduced by Globacom, the industry would have taken longer time to achieve that feat. “I want to personally congratulate Globacom for winning the Most Innovative Mobile Player of Year award tonight. Though Globacom came at a later date, its introduction of PSB system at a time earlier operators said it was not achievable, changed the rule of the game. For that unique innovation and many more others it has introduced

since then, Globacom deserved this award”, he said. The ALTON chairman had in his earlier remarks at the ceremony urged all the awardees to see the awards as a recognition of their achievements and contributions to the development of the industry, which he described as the “most reliable” sector in the country and a “major driver” of the economy. Adebayo also called on the government to look into the issue of multiple taxations in the industry and make conscious efforts to protect the industry’s critical infrastructure; just as he described the threat by the Nigerian Airspace Management Authority to close down operators’ base stations as a threat to national security which will have grave consequences for the country. In his welcome address, Ken Nwogbo, founder and CEO of Communication Week Media Limited and organisers of the BoICT Award Series, said that in the last 10 years, “Beacon of ICT Awards Series has become widely regarded as the last most prestigious annual event available in the ICT industry in Nigeria”. Held at the prestigious Eko Hotels and Suites, Lagos, the 2019 edition of the event was attended by key players in the nation’s telecom sector such as the industry’s legend, Dr. Chris Uwaje, President of the Association of Telecommunication Companies of Nigeria (ATCON), Mr. Olusola Teniola; Managing Director of Vodacom Business, Wale Odeyemi; Managing Director of Systemspecs, Mr. John Obaro; Managing Director of Rack Centre; Tunde Coker, and Muyiwa Ogungboye of e.Stream Networks Limited.

PROVIDING SUCCOUR TO THE NEEDY…

L-R: Senior Special Assistant to Edo State Governor on Edo State Emergency Management Agency (EDOSEMA), Salami Luqman; Edo State Team Supervisor for National Emergency Management Agency (NEMA), Mr. Christian Omeje; and Special Adviser to Edo State Governor on Special Duties, Hon. Yakubu Gowon, handing over relief materials to a victim of the 2018 flooding in Esan South East Local Government Area…recently

Medical Laboratory Scientists Protest Employment Embargo on Members Okon Bassey in Uyo The Association of Medical Laboratory Scientists of Nigeria (AMLSN) has decried what it described as tacit embargo on employment of medical laboratory scientists in most federal medical centres, teaching hospitals and general hospital across the country. The National Publicity Secretary of AMLSN, Dr. Cosmir Ifeanyi, made the protest known at a press conference to end the 13th Public Health Lecture Series and 198th National Executive Council Meeting of AMLSN held in Uyo, the Akwa Ibom State capital, at the weekend. The association argued that the challenge with recruitment of medical laboratory scientists across the country was a national disservice which portends disaster to the Nigerian health system.

Blaming this on the politicisation of the health care system in the country by Nigerian doctors, the body noted that not even a single medical laboratory scientist had been recruited in the numerous centres in the last 10 to 15 years. Accordingly, the association called on President Muhammadu Buhari to direct for the replacement of retired and dead medical laboratory scientists and the immediate employment of medical laboratory scientists in all federal tertiary health institution to bridge the manpower deficit. “In most tertiary hospitals, the medical laboratory scientistdoctor-patient ratio has become so distorted such that professionals are frequently overwhelmed by work load, and that can of course occasion misdiagnosis and poor quality care service delivery. “We note with displeasure the

surreptitious employment of quacks in federal tertiary health institutions in Nigeria and the reckless manner in which persons with qualification in industrial chemistry, zoology and related biological sciences are now being employed and deployed to provide medical laboratory testing. “This violates not only the laws of the federation, but endangers the ignorant, uninformed health seeking members of the public,” AMLSN stressed. It equally complained that in over 20, 000 primary health care centres in Nigeria, medical laboratory service components hardly exist in the centres across the 36 states, barring the Abuja Municipal Council Area of the FCT, where only few exist. According to the group, “Why healthcare seeking members of the public are denied access to medical laboratory testing which is not

unconnected to the deliberate efforts to deemphasize evidencebased-care. “We therefore call on the Executive Secretary National Primary Health Care Development Agency and the committee reviewing the minimum health package to rethink and incorporate medical laboratory services in all the PHCs and the minimum health package.” The body lauded the National Assembly for passing the National Postgraduate College of Medical laboratory Science bill, and expressed the hope that President Buhari will give assent to the bill as part of his commitment to meeting up with the need for the development of advanced skillsets and capacity building in the medical laboratory service delivery across the country.

MONDAY APRIL 29, 2019 Ë¾ T H I S D AY

M ONDAY APRIL 29, 2019 Ë¾ T H I S D AY

T H I S D AY ˾ MONDAY, APRIL 29, 2019

MONDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com 08111813083

Cameroon Defeats Guinea in Shoot out to Lift U-17 AFCON

Cameroon’s Under-17 team, Les Lionceaux players and coaches celebrating on the podium shortly after defeating Guinea 5-3 on penalty shoot out to win the 2019 Under-17 Africa Cup of Nations in Dar es Salaam, Tanzania…yesterday

Cameroon defeated Guinea 5-3 on penalties to be crowned the champions of the Total Under-17 Africa Cup of Nations 2019 at the National Stadium, Dar es Salaam yesterday. Goalkeeper Manfred EKoi was

the hero for “Les Lionceaux” saving Mohamed Sacko’s kick from the short distance before Saidou Moubarak scored to give Cameroon their second title after their maiden triumph in 2003 in Eswatini (then Swaziland).

After a barren stalemate which forced the game into penalties, Steve Mvoue, Nassourou Ndongo, Leonel Wamba, Toni Nang and Moubarak scored for Cameroon whilst Alya Bangoura, Alya Toure and Aboubacar Conte

scored for Guinea. Sacko was denied by Ekoi. The clash served a repeat of the group phase clash between the two teams which Cameroon won 2-0. Whilst Guinea were seeking to avenge the previous

defeat, it was Cameroon who laughed loudest to confirm their superiority over the former. Guinea forward Bah Algassime nearly broke the deadlock for the junior Syli in the opening minute of the game, with a long

range effort that missed target. Cameroon will respond on 11 minutes through most valuable Player of the Tournament, Steve Mvoue with a shot that deflected to corner.

AFRICA CUP

F I FA U - 2 0 W O R L D C U P

100 Cyclists from Nigeria, Ghana, Benin Storm Abuja for Selection

Flying Eagles Land in Germany for Training

Olawale Ajimotokan in Abuja Over 100 cyclists, 20 coaches and 25 commissaires (referees) from Nigeria, Ghana and Benin Republic will today at the Velodrome, Abuja, begin a two-week intensive training/ selection process organised by the Nigeria Cycling Federation (CFN) to intensify preparations toward the maiden Africa Track Cycling Championship, scheduled July between 26 and 28. President of the Cycling Federation of Nigeria (CFN), Giadomenico Massari, disclosed

this at the weekend. He said the Abuja training/ selection camp for the Africa Cup was necessary given that track cycling is relatively new for countries in the sub-region. Massari said the training/ selection programme will also serve as preparation for other engagement of the federation, including the World Junior Track Championship, for male and female, the Elite version of the championship and the All Africa Games (Track). Already, Ghana and Benin Republic have accepted

invitations to participate in programme out of all West African countries invited. “It is a massive three-level event wholly sponsored by the federation. We are providing accommodation, feeding and local transportation for participants. We are also drawing from our own local resource in terms of technical support. Dr. Emmanuel Igbinosa who recently bagged his certificate as UCI certified Instructor/ Commissaire (Track/Road Cycling) will be on hand to train the commissaires while

Coach Bashiru Mohammed will handle the coaches. He will be assisted by senior coaches in the selection which will be done by elimination,” said Massari. He, however, bemoaned lack of government support in meeting some of the requirements for certification of the velodrome ahead of the Africa Cup which is barely two months away. He noted that the requirement for provision of inside perimeter fence in the velodrome has not been done in spite of the assurance to that effect by the sports ministry.

Nigerian Breweries PlcThrows Weight behind Okpekpe Race Again Nigeria’s pioneer and largest brewing firm, Nigerian Breweries Plc has once again thrown its weight behind the Okpekpe International 10km Road Race. Last year the company joined the cast of corporate organisations who made history with the race as the first ever and only IAAF silver label road running event to hold in Nigeria nay West Africa. ‘This year, Nigerian Breweries Plc has elected to continue to partner us as a friend of the race,” Zack Amodu, the race’s director of organisation revealed at the weekend. “The largest and biggest

brewing firm in Nigeria wants to continue to be a part of history as we strive to bring the first IAAF gold label race to Nigeria and West Africa as well as the second in the entire continent of Africa after the Sanlam Cape Town Marathon in South Africa,” further stressed Amodu who confirmed Nigerian Breweries Plc will support the race with cash and some of their products. “Nigerian Breweries is a major player in sports sponsorship and promotion in Nigeria. We are indeed thrilled that such a socially responsible corporate

organisation has thrown its weight behind us for the second year running. This is a testimony to the growing popularity of the Okpekpe road race.” In 2015 Okpekpe 10km road race became the first road race in Nigeria nay West Africa to be granted an IAAF label status which means the race is regarded as one of the world’s leading road running events. “A label certifies the global sporting significance of the race, the organisational quality and the compliance with relevant IAAF competition rules,” explains Amodu who

restated the organisers resolve to use a gold label template to organise this year’s event next month in rustic and hilly town of Okpekpe in Etsako East Local Government Area of Edo State. “Our target is to get a gold label for the race next year and the new IAAF road race rules have made it compulsory that we use the template of the label we are aspiring for in the event preceding the label. This means that this year’s race will have a gold label standard written all over it especially in terms of the quality of the elite field.’’

Nigeria’s Under-20 boys have arrived in Bad Goegging Munich in Germany for a three-week intensive final camping programme ahead of the FIFA Under-20 World Cup finals in Poland. A delegation comprising team officials and 23 players traveled aboard a Lufthansa Airline flight from Abuja on Saturday night and arrived in Frankfurt just before 6am, before a 4-hour road trip to the city. The delegation is staying at The Monarch Hotel. At the Nnamdi Azikiwe International Airport, Abuja on Saturday, the seven –time African champions welcomed the General Secretary of Nigeria Football Federation, Dr. Mohammed Sanusi, who charged the team to adopt good character and discipline as winning words in the camp and at the global championship, while eschewing any conduct that could tarnish the image of Nigeria. “A good name is forever better than gold. While we implore you to go out there and put in the best efforts to win your matches and do the country and the African continent proud, it is important that you do so with good conduct, discipline and dedication, and with respect for the good name of our dear country. “You are flying the country’s flag and also flying the continent’s flag.

It is therefore incumbent on you to show good character on and off the field of play at all times and abide by the tenets of fair-play,” Dr. Sanusi said. While advising the players and team officials to valorize hard work and patriotism, Dr. Sanusi assured that the NFF is committed to giving the team its full support, including payment of their bonuses and allowances in the training camp and at the championship in Poland. In his response, team captain Ikouwem Utin thanked the federation for the support given the team so far and pledged that the players would give their very best to do Nigeria and Africa proud in Poland, while maintaining discipline as their watchword. The Flying Eagles, two-time silver medalists at the FIFA U-20 World Cup finals, will fly out of Germany to Poland on 19th May, five days before their opening match of this year’s competition against Qatar’s U-20 team in Tychy. They would afterwards tackle the United States ofAmerica on Monday, 27th May in Bielsko-Biala before concluding their group phase assignment against Ukraine on Thursday, 30th May at the same venue. The 24-nation championship will hold between May 23 and June 15.

32 Lagos Schools for Channels International Kids Cup As the annual Channels International Kids Cup enters the 11th season, 32 schools have been cleared to feature in the competition. According to a press statement by Channels Television, there were over a hundred registered schools in Lagos for the tournament. But “after a thorough screening

process, the technical committee settled for the teams that adhered strictly to the competition’s rules and regulations.” Among those cleared are winners of the first edition, University of Lagos Staff School, Donmen Primary School, Saludeen Primary School, Ikorodu and 2018 semi-finalists,

Abina Omololu, Surulere. Others are: Inner-City Mission, St Jude’s Private School and Mind-Builders. The 2014 national champions, Toyibat School are also making a return to the competition this year. Some schools will be making their debut at the competition

this year. They include; Mbari Mbayo, School, Yaba, St Joseph Primary School, Idi-Mangoro, Agege, Dee Jewels Primary School, Egbeda, RRS Gold Primary School, Mafoluku, Oshodi, Jimoh Ojora, Ajegunle, Anifowoshe Primary School, Ikeja, Fanlot International School, Abule-Egba, Chalcedony

School, Abijo, Ibeju-Lekki, Will and Grace International School, Mile 12 and Raufu Williams Primary School, Egbeda. The competition has a direct elimination format, teams will be divided into two groups and compete across two venues. The winners from each centre will represent Lagos State at

the International finals scheduled for between May 21 and 27, 2019. The draw ceremony for the Lagos event will be done on Tuesday, April 30th while action will begin on May 2nd through May 7 at the Agege Stadium and Campos Square Mini Stadium, Lagos Island.

MON ˜ Ͱͷ˜ Ͱͮͯͷ ˾ T H I S D AY

MONDAYSPORTS

EPL: Ndidi, Iwobi Subbed as Leicester Hammer Arsenal 3-0 Man City just two more wins away from retaining title

Super Eagles duo of Wilfred Ndidi and Alex Iwobi were in contrasting moods when Arsenal lost 3-0 at the King Power Stadium yesterday. Both players did not complete the game for their respective clubs in the game Jamie Vardy scored twice as Ndidi’s Leicester dented Arsenal’s hopes of qualifying for the Champions League. Elsewhere, Manchester City stand just two victories away from retaining their Premier League title after Sergio Aguero’s second-half goal gave them a scrappy 1-0 victory over Burnley at Turf Moor. Ndidi, who picked a yellow card in the 13th minute of the highly entertaining encounter was replaced by Harvey Barnes in the 46th minute while Iwobi who started the game for the Gunners was substituted at half time by Frenchman Laurent Koscielny. The unmarked Youri Tielemans headed in a cross from James Maddison just before the hour mark, before Vardy struck late on with a header and a tap-in from close range.

Arsenal played almost an hour of the contest with 10 men after Ainsley Maitland-Niles was sent off. A third successive Premier League defeat left them a point behind fourth-placed Chelsea, who face Manchester United at Old Trafford at 16.30 BST on Sunday. Leicester can still finish seventh - they are three points behind Wolves with two matches left - which could earn a Europa League place depending on the outcome of the FA Cup final. Arsenal’s task was made significantly more difficult after Maitland-Niles was sent off for the first time in his career following two bookings in the space of 28 minutes - for a soft foul on Ben Chilwell and then needlessly scything down Maddison near the halfway line. However, a three-goal margin flattered Arsenal and, even with a full complement of players, it is difficult to envisage a different outcome such was the conviction of the performance of Brendan Rodgers’ Leicester.

Arsenal were indebted to goalkeeper Bernd Leno for a string of fine saves, the pick a magnificent one-handed diving effort to paw away a Wilfred

Ndidi header. Arsenal fans must be fed up with the sight of Vardy, such is the former England’s striker’s potency against them.

He has scored eight goals in as many matches against the Gunners - and now has 10 in his past nine appearances against any opposition.

While much has been made of the young squad that Rodgers will seek mould at Leicester, 32-year-old Vardy remains an influential presence.

Manchester United’s goalkeeper, David de Gea, watching Marcos Alonso’s eﬀort sailing into the net for Chelsea’s equaliser in the 1-1 draw result at Old Traﬀord…yesterday

De Gea Error Gifts Chelsea Advantage in Race for Top Four A mistake by goalkeeper David de Gea gifted Chelsea an equaliser as Manchester United’s hopes of playing in next season’s Champions League were dented at Old Trafford yesterday. With United leading through Juan Mata’s goal against his former club, De Gea spilled Antonio Rudiger’s 30-yard attempt for Marcos Alonso to level shortly before the interval. It was a costly error by the Spaniard, whose form has come under scrutiny in recent weeks, although De Gea did come to his side’s

rescue deep in stoppage time to deny Gonzalo Higuain a dramatic winner. Up until Chelsea’s equaliser, United had been in control yet they remain sixth in the table, three points behind fourth-placed Chelsea with two games to play, after a third successive league game without a win. In a competitive game, both teams suffered injuries. After Rudiger was forced off in the 64th minute, United defender Eric Bailly, who was making his first league start since 3 February, was helped off six minutes later.

With two games of the season left - and United’s hopes of qualifying for next season’s Champions League now out of their own hands - Ole Gunnar Solskjaer is facing a dilemma regarding his goalkeeper. The United boss had to defend De Gea before this game because of the Spaniard’s shaky form. He was culpable for at least one of Manchester City’s two goals in United’s midweek derby defeat at Old Trafford, having been at fault for Lionel Messi’s second in the 3-0 defeat at Barcelona in the Champions

League on April 16. “He’s for me been the best player United have had for the last six or seven years,” said Solskjaer ahead of Chelsea’s visit. “He has been absolutely outstanding - going through tough patches is part of a footballer’s career and David will be fine.” But De Gea was anything but fine as Rudiger let fly from 30 yards with Chelsea’s first shot on target two minutes before the interval. It looked a routine save for a player of De Gea’s ability, but the ball spilled from his grasp and Alonso reacted quickly to

tuck home his first Premier League goal since 18 August. His save to deny Higuain in the dying moments, with the Chelsea forward clean through, saved United from defeat but De Gea’s inconsistent form remains a worry. United had Sergio Romero on the bench against Chelsea. The Argentine has not made a Premier League appearance since 13 May 2018 when he kept a clean sheet in a 1-0 win against Watford. It remains to be seen whether he will be called into action before the end of a disappointing season in

two weeks time. With Tottenham losing at home to West Ham on Saturday and Arsenal losing heavily at Leicester earlier on Sunday, this result means none of the teams placed between third and sixth won over the weekend. Five points separate Tottenham, Chelsea, Arsenal and Manchester United with 180 minutes of the Premier League season remaining. For United, they will hope the teams above them keep dropping points as they look to avoid missing out on a top-four spot for the third time in four seasons.

L O N D O N M A R AT H O N 2 0 1 9

Oshoala Leads Barca Ladies to Kipchoge Wins, Mo Farah Fifth UCL Final Femi Solaja with agency report

Super Falcons forward and former African Footballer of the year, Asisat Oshoala’s fledging career at FC Barcelona Ladies continues to rise after playing her part in the team’s qualification to play in the final of UEFA Champions League next month. It was the first time in the history of Spanish football that a club from the Iberia nation will reach the final phase of The Duke of Sussex, Prince Harry (centre) poses with the winner of the Men’s Marathon the competition after a lone Kenya’s Eliud Kipchoge and Women’s Marathon Kenya’s Brigid Kosgei during the 2019 London goal win over Bayern Munich Marathon PHOTO GETTY IMAGES Ladies before a huge crowd of 12,764 people, a club record Kenya’s Eliud Kipchoge ran the and Mule Wasihun finished best, is the second fastest by for a women’s home match.

The Nigerian star was introduced in the 70 minute for Mitchel Duggan. The lone goal win gave the Spanish side the final ticket on two-goal win aggregate after a 1-0 away win last week in Munich. A penalty from Mariona in added time at the end of the first half ensured Barça’s presence in Budapest, but they’ll be without Hamraoui, who was sent off in the second half for two yellow cards offence. According to reports, Bayern had the first chance with a shot from Škorvánková, however, as the half wore on, Lluís Cortés’ side imposed their style to

second fastest marathon in history yesterday to win the London Marathon for a fourth time as Britain’s Mo Farah finished fifth. Kipchoge, 34, who broke the world record in Berlin last year, triumphed in two hours two minutes 38 seconds. Farah finished three minutes one second behind Kipchoge, while fellow Briton Callum Hawkins was 10th. Kenya’s Brigid Kosgei, 25, became the youngest female London winner, with Britain’s Charlotte Purdue 10th. Ethiopia’s Mosinet Geremew

Thursday and followed that up with further three gold medals in the individual championships. Top stars Anuoluwapo Opeyori and Dorcas Adesokan produced the most stunning shows after they dethroned Georges Paul and Kate Foo Kune from Mauritius in the men’s and women’s singles respectively. Mauritius’ Kune had reigned as African champion

second and third respectively behind Kipchoge, who finished 59 seconds shy of his world record of 2:01:39. Earlier, American Daniel Romanchuk and Switzerland’s Manuela Schar won the men’s and women’s elite wheelchair races. More than 40,000 runners, some dressed as giraffes, bells, cars and even Big Ben, took to the streets of the capital as the amount raised by the London Marathon passed £1bn. Farah’s time of 2:05:39, although outside his personal

a Briton. He was dropped by the leading pack around the halfway mark as the men’s field started to string out with Kipchoge dictating the pace. Farah was involved in a row with double Olympic champion Haile Gebrselassie this week but said it “didn’t distract me at all”. “I felt great with my start,” the four-time Olympic champion, 36, told BBC Sport. “My aim was to follow the pacemaker, but after 20 miles when he dropped out, the gap opened up and it became hard to close.

take control. In the 18th minute, Martens enjoyed the first clear opportunity for the hosts, but, in the 31st, Barça almost went behind. After a corner, Leupolz, the Bavarian captain, struck a superb shot that rattled the woodwork. That warning was heeded with Barça’s quality shining through again. After two very clear chances from Hamraoui and Marta T., Lieke Martens won a penalty after a foul from Gina Lewandowski. Mariona made no mistake from the spot to give Barça Women the half-time lead.

Nigeria Wins All Africa Senior Badminton Championships Team Nigeria has established her dominance on the continent after clearing the stable to emerge champions of the 2019 All Africa Senior Badminton Championships which ended yesterday in Port Harcourt, Rivers State. Nigeria won four gold medals, two silver and one bronze to top the medal table. The team had earlier secured the most coveted gold medal in the team event on

since 2014; she even beat Adesokan in the final of the last edition in Algeria, but she met a determined Nigerian this time, who showed grit to hand down to her a 21-12, 21-13 defeat in the final of women’s singles. In the men’s singles, Godwin Olofua, ranked third in Africa, had shockingly defeated top seed, Paul, in the semifinals to set up all Nigerian affairs final with Opeyori.

Monday April 29, 2019

UT H

& RE A S O

Price: N250

MISSILE Ozekhome to Buhari

“The entire journey is not only illegal, it is also unconstitutional and immoral. It is immoral in the sense that the president travelled with the tax-payers’ money. The day the president was sworn in, he ceased to be a private citizen and he became a public ﬁgure whose public outings must be known, especially when he is outside Nigeria” – Constitutional lawyer, Chief Mike Ozekhome, faulting President Muhammadu Buhari’s trip to the UK without transmitting a letter to the National Assembly.

FEMIFALANA Making a People’s Constitution L GUEST COLUMNIST

ast Tuesday in Lagos, the Minority Report and Draft Constitution for the Federal Republic of Nigeria, 1976 was publicly presented at the University of Lagos. A quick reminder about the 43-year old document might be necessary at this juncture. As part of the initial steps towards the transition to civil rule in 1975, the regime of General Murtala Mohammed gave a committee of 49 eminent Nigerians the job of producing a draft constitution for the Second Republic, which was scheduled to begin on October 1, 1979. In fact, Murtala initially nominated 50 members into the committee chaired by legal luminary Chief Rotimi Williams. Hence it was dubbed a “committee of 50 wise men” in the media. However, Chief Obafemi Awolowo (who later emerged a presidential candidate in the course of the transition programme) declined to serve on the committee. Two members of the Constitution Drafting Committee (CDC), Dr. Olusegun Osoba and Dr. Yusufu Bala Usman, both radical historians, fundamentally disagreed on ideological grounds with the report supported by the majority of 47 others. Hence, the minority came up with the document, which has now been published by the Zaria-based Centre for Democratic Development Research and Training (CEDDERT). By the time the report was ready in 1976, Murtala had been killed in an abortive coup and his second-in-command, General Olusegun Obasanjo, was now in charge. Regrettably, the Obasanjo regime rejected, in a most hostile manner, the Minority Report, as it is now known in Nigeria’s political history. The report of the majority was decreed into the 1979 Constitution, the basic content of which has formed the nucleus of the subsequent constitutions including the Decree 24 of 1999 otherwise called the 1999 Constitution. A critical reading of the publication would bring to the fore the radical diagnosis and the extraordinary prescience in the prescriptions for the Nigerian condition made by the authors. This is despite the fact that the authors wrote 43 years ago that they never pretended to put forward “a perfect document.” In the true tradition of self-criticism that is the hallmark leftist thinkers, they readily admitted “faults and inadequacies” in the document. Besides, the dynamics of Nigeria’s political economy would compel an update of a few of their propositions as Dr. Abubakar Siddique Mohammed, director of CEDDERT, rightly puts the matter in the highly instructive forward to the publication. Yet, Nigeria could possibly have avoided the current obstacles to genuine democracy and sustainable human development if some of the questions posed and the answers provided by Osoba and Usman, two leading lights of the Nigerian Left, in their unambiguously progressive Report and Draft of 1976 had been considered. Take a sample! Unknown to the Not Too Young to Run campaigners (who sometimes make a fetish of age in politics), Osoba and Usman had recommended in Section 145 of their own Draft Constitution way back in 1976 the minimum age of 30 as part of the qualifications to contest for the office of president or governor. Forty three years later, the same provision is being celebrated by youths who now see the man that treated the Minority Draft then as “non-existent,” Obasanjo, as a pathfinder of their future! Similarly, it is significant that the constitutional

Senate President, Bukola Saraki

immunity for the president and governors and their respective deputies was hotly contested by Osoba and Usman during the making of the 1979 Constitution. According to them the immunity provisions “ contradict violently the fundamental principle of the equality of all citizens before the law and is an unwarranted attempt to shield these high officials of the state from the full rigours of the law as would apply to the other citizens of Nigeria in similar situations of misconduct or improper conduct.” If you ask the anti-corruption agencies the main roadblock in their work today, they would readily tell you that it’s the constitutional immunity for this category of public officers. Other similarly remarkable provisions encapsulated in the Draft, but were regrettably rejected by the Obasanjo regime, include those on accountability by those in power; the purpose and management of political parties as well as the appointment of a prime minister by the elected president for the purpose of diffusing power. Now, talking about the atmosphere of hope that should be created at this period of our history, the leading spirits of the CEDDERT should be saluted for their keen sense of historical purpose in resurrecting at this time a document that was once “killed” by a military dictator. The basis of hope is that those desirous of fundamentally confronting the deteriorating Nigerian condition would be equipped by the contents of this publication. In the fresh introduction to the publication entitled “The 1979 Constitution and its Legacy of Catastrophic Succession of Governments, 1979-12018,” Osoba posits that given the enormity of the “crisis of governance” in the land the constitutional reforms intended in the 1976 proposition might prove inadequate in the circumstance. In fact, given the progressive ferments of the 1970s, these two progressive constitution writers could not have imagined the current crisis of the economy, society and politics. Osoba has, therefore, proposed a “minimum agenda for change” based on the “root and branch” strategy. The proposition ought to stimulate honest discussions among those sincerely working for a progressive transformation of Nigeria. Yet a few areas should be isolated in the 1976 efforts of Osoba and Usman that could provide clues on how to tackle the contemporary problems of poverty, inequality, social injustice,

insecurity and the dangerous clogs in the wheel of national integration. As far as the making of a people’s constitution goes, compared with the 1979 Constitution the draft put together by Osoba and Usman is indubitably richer in content (from the viewpoint of the genuine interests of the people). And the style of the draft is admirably accessible. Many great constitutions are, in fact, slim in volumes! As Osoba and Usman rightly put it, the 1979 Constitution is a deliberate effort at mystification for the selfish interests of the bourgeoisie. The constitution is verbose. It is laden with technical loopholes. It is unwieldy with some contradictory provisions. As a matter of fact, the pull for the Chapter II of the 1979 Constitution, which is also incorporated in the 1999 Constitution, was actually the Minority Report of Osoba and Usman that we are celebrating today. Although the undeniably progressive provisions of the Chapter II have been cynically made non-justiciable, the whole chapter itself was a backhanded response to the ideological and political pressures generated by Osoba and Usman’s report and draft in their own categorically radical draft. It was a concession the majority members of the CDC were forced to make to Osoba and Usman. So, the majority members of the CDC gave the people socio-economic rights in Chapter II of the 1979 Constitution with one hand and took away the rights with the other hand by the non-justiciable Clause. Since then the struggle has been shifted to the courts and the push for enactment of laws to back up policies tailored securing socio-economic rights for the people. Hence we have had the emergence of legislations backing funding of basic education and primary healthcare and policies on social housing, social insurance and financial inclusion. It must be admitted that all these are at best palliatives and they are never a substitute to the constitutionally enshrined provisions for social- economic rights. The principle underlying the divergence of the progressive document from the 1979 is well articulated by the authors in Part 1 of the publication. Osoba and Usman embark on a sharp critique of the Majority Draft for making “elaborate provisions to protect the ‘Right to Property’ contained in Section 36 and 37” while declaring the socio-economic rights of the people to be “non-justiciable.” Here we are talking of the people’s rights to education, healthcare, social housing, mass transit, social protection, water supply, sanitation etc. In contradistinction, Osoba and Usman spell out the “Fundamental Economic and Social Objectives” in Chapter IV of their draft without the pernicious provision of non-justiciability. Now, if Nigeria had been constitutionally and philosophically run on the basis of the Minority Report with socio-economic rights of the people reigning supreme, the scourge of poverty would not have been ravaging the land so ferociously as it is doing today. In Section 36 of the Minority Draft, Osoba and Usman propose as follows: “The Federal Republic of Nigeria is committed to a rapid, even, balanced and self-reliant economic development and the state shall direct and plan the national economy. Appropriate planning authorities shall be created at village, district area, state and national levels to ensure closely integrated planning based on the genuine needs and interests of the people and their full and active participation.”

In retrospect, if the running of the Nigerian political economy had been informed by such a constitutional provision in the last 40 years, the scandalous social inequality plaguing the Nigerian society could not have arisen. Instead, Nigeria could have at least evolved into a social democracy without a bloody revolution. The Scandinavian countries that are always rated higher in human development than the richer capitalist countries actually apply these social democratic principles in running their economies. Besides, the devolution of power embodied in the Section 36 of the Draft cited in the foregoing is the type for which the people should struggle and not the devolution of powers to governors who are emperors and looters, as the ethnic and regional champions of “restructuring” are unwittingly framing the question. The Nigerian federalism should be made to work for the people and not only for the factions of the ruling class located in the various regions and ethnic groups. It is remarkable that Osoba and Usman rigorously make this genuinely federalist argument in the 43 –year old report. Indeed, if the provisions of the Chapter II of the 1999 Constitution (an inherited item from the 1979 Constitution) had been made justiciable, governments in Nigeria would be taken more seriously in tackling poverty and inequality. In the same vein, the profundity of the argument of Osoba and Usman in their debate with the authors of the Majority Draft on national integration should command the attention of those approaching the National Question from a progressive perspective. The Minority Report argues against “state citizenship” which contradicts the “national citizenship.” If the formula provided by Osoba and Usman in 1976 had been assimilated in the economy, polity and society the bloodletting arising from the episodic wars of the “indigenes” versus the “settlers” could probably have been avoided. It is always intriguing when members of the ruling class rationalise the manipulation of religion by saying that the word secularity is not in the constitution. They insist that the intent of the constitution is to say that Nigeria is a multi-religious country and that the government should promote tolerance among adherents of the two main religions of Christianity and Islam especially. If only Obasanjo had listened to Osoba and Usman 43 years ago, the seeming ambiguity would not have been in the public sphere as the Minority Draft states clearly and simply in Section 39 as follows: ‘The Federal Republic of Nigeria is a secular republic and the state not be associated with any religion but shall actively protect the fundamental right of all citizens to hold and practice the religious beliefs of their choice.” So it is clear that with this publication CEDDERT is illuminating the discussions about the future of Nigeria from a most credible vantage. And the intervention is quite timely. After all, the light that could arise from the enormous heat generated so far in the restructuring debate is the possibility of the proposals being distilled into the process of making a people’s constitution. So the publication should be a useful material in the hands of those interested in writing a people’s constitution. It is hoped that this important publication would reawaken the tradition of putting at the centre of national debates credible alternatives for building a humane and just society.

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