MONDAY 13TH MAY 2019

No Monies Missing, Stolen in Central Bank, Says Okorafor Obinna Chima The Central Bank of Nigeria (CBN) last night said suggestion of fraud, in a purported audio recording of selective conversations among the Governor, Deputy Governor and some of its

senior officials, is false and an attempt to mislead members of the public.

The central bank, in a statement by its Director of Corporate Communications, Mr. Isaac Okorafor, pointed out that contrary to the headline-grabbing narrative

that the discussion was about a fraudulent transaction, “this conversation, the beginnings of which was omitted to create a different impression, was simply to proffer solutions to a misunderstanding that affected the bank’s balance sheet.”

Furthermore, the bank maintained that as publicly known, the CBN was approached in 2015 by the National Economic Management Team and the National Economic Council (NEC), chaired by the Vice President, Prof. Yemi

Osinbajo SAN, to assist state governments with conditional budget support, in the aftermath of the significant nose-dive in global oil prices and associated Federation Account Allocation Committee (FAAC) allocations.

It explained that in order to

ensure that ordinary Nigerian workers got their salaries, pensions and gratuities, and that the economy continued to recover from recession, the bank provided about N650 billion in loans at nine per cent, with Continued on page 8

APC Expresses Satisfaction with Support for Lawan, Gbajabiamila... Page 8 Monday 13 May, 2019 Vol 24. No 8799. Price: N250

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Evil Doers Will Be Defeated, Presidency Reassures Nigerians Gives timeline of security operations Omololu Ogunmade in Abuja The presidency yesterday reassured Nigerians that criminals engaging in various crimes threatening the nation's security would be severely defeated soon.

Giving the reassurance in a statement, the president's spokesman, Mr. Femi Adesina, said despite the increasing surge of criminal activities in recent times, the administration of President Muhammadu

Buhari remained committed to rescuing the country from the jaws of criminal elements.

According to him, in a matter of a moment, perpetrators of heinous crimes would be overthrown and their temporal moment of victory would be turned to gloom.

He said: "It is the constitutional duty and responsibility of government to safeguard lives and property.

Continued on page 9

Ganduje Presents Staff of Office to New Emirs Sultan urged to challenge action

Ibrahim Shuaibu in Kano Kano State Governor, Alhaji Abdullahi Ganduje, yesterday started presentation of staff of office to emirs of the four new emirates created out of the old Kano Emirate.

The four new emirs are Alhaji Aminu Ado-Bayero, Bichi; Alhaji Tafida Ila, Rano; Alhaji Ibrahim Abdulkadir, Gaya; and Alhaji Ibrahim Abubakar ll, Karaye.

The governor had on Saturday presented appointment letters to the new emirs, saying he was unaware of any court order stopping him from breaking the former Kano Emirate.

Ganduje has already presented staff of office to the new emirs of Bichi and Karaye.

The Chief Press Secretary Continued on page 8

Nigeria Loses 16,458 MW to Gas, Grid Constraints... Page 9

MATTERS OF THE SKY...

L-R: Minister of State for Aviation, Senator Hadi Sirika; Edo State Governor, Mr. Godwin Obaseki; and Ekiti State Governor, Dr. Kayode Fayemi, during a meeting at the minister’s office in Abuja… weekend

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APC Expresses Satisfaction with Support for Lawan, Gbajabiamila To zone remaining offices before inauguration Deji Elumoye and Onyebuchi Ezigbo in Abuja The All Progressives Congress (APC) has expressed satisfaction with the level of support for its official candidates for the ninth Senate president and House of Representatives speaker, Senator Ahmad Lawan and Hon. Femi Gbajabiamila respectively, revealing that the remaining leadership positions would soon be zoned.

The National Publicity Secretary of the party, Mallam Lanre Isa-Onilu, told THISDAY yesterday that the APC had done the needful and was satisfied with the support for its candidates from its members.

"The fact remains that we have mobilized our members and we have told our members the party's position and they are complying with it. We are satisfied with the support we have got so far," he said.

He said the APC was still consulting and would announce the zoning of the remaining leadership positions for ninth National Assembly, before its inauguration in June.

The party dismissed speculations about moves by certain elements in the northern part of the country to go against the APC's choice, saying there is no cause for alarm.

Some of the party’s bigwigs from the northern part of the country were said to have developed cold feet in supporting the two lawmakers already endorsed by the party.

They were said to have become apprehensive following their findings that both Lawan and Gbajabiamila might be linked to the national leader of the APC, Senator

Bola Tinubu, and that such affinity would give the former Lagos State governor undue influence over the party if allowed to stand.

Also those opposed to the growing influence of Tinubu are said to be worried that the eventual emergence of Lawan and Gbajabiamila as Senate president and speaker would increase Tinubu's grip on the party and may pave the way for his easy push to pick the ticket of the APC for 2023 presidency.

It was learnt that the brewing crisis of confidence had led to the regrouping of some northern stakeholders to possibly anoint alternative candidates that would square up against the ones endorsed by the APC. THISDAY gathered that the party is presently at the risk of losing the fragile solidarity it gained after emerging victorious at the last presidential election if the situation is not arrested urgently.

As part of the moves to stir the party away from crisis, it was learnt that some of the concerned leaders are trying to arrange a peace meeting with President Muhammadu Buhari where issues could be sorted out before it becomes late.

One of the contenders for the Senate presidency position and the former Senate Leader, Senator Ali Ndume, has continued his campaign tour across the country to solicit support from his colleagues for his ambition.

Ndume had insisted that the APC national leadership has not asked him to step down from the race and as such he would go ahead and present himself for the coveted post.

However, when asked about

the feeling of the party on the actions of some of its members-elect, who have continued to disregard the warning not to contest against APC’s favoured candidates, Onilu said he would not want to take issues with any of the members.

Onilu said: "The party has made its position clear and the president has also stated his position regarding the issues very clearly; and I don't think I should say more than that."

On what the party intends to do to the remaining leadership positions in the National Assembly Onilu said: "They will be taken care of before the inauguration."

THISDAY had earlier reported that the ruling party was planning to use the remaining National Assembly leadership positions as carrots to negotiate and to placate those of its stakeholders currently kicking against the APC’s zoning arrangement.

The remaining positions are, Deputy Senate President, Deputy Speaker of the House of Representatives, Majority Leader in both legislative chambers, Chief Whip of the two chambers as well their deputies.

Lawan: I'm Sure of PDP Senators-elect’s Support Meanwhile, Lawan has expressed optimism about the unflinching support of Peoples Democratic Party (PDP) senators- elect towards his ambition to become Senate president.

This is coming just as former Senate Leader, Senator Ali Ndume, who is also an aspirant for the 9th Senate Presidency, asked the ruling

All Progressives Congress (APC) to have a rethink about the adoption of a particular candidate for Senate president.

The two ranking Senators spoke to THISDAY in separate telephone interviews yesterday evening.

Lawan stated that he had engaged the PDP senators-elect about his ambition and from their responses they would key into the project.

His words: "We continue to talk to our colleagues in the PDP and this has resulted in some PDP senators-elect visiting our campaign office in Abuja to show their solidarity and be part of the Lawan for Ninth Senate President campaign train."

He said although the consultations and campaigns in the last few weeks had been very engaging, he would continue to talk to all stakeholders especially the senators-elect about the need to have a vibrant leadership in the ninth assembly.

"The vibrancy is what I represent and we have continued to make additional efforts towards talking to people again and again without leaving out anybody as we cannot afford to take any senator-elect for granted," he said.

This, he further said, has informed his reaching out to the lawmakers on the need for them to elect him as Senate president when the ninth National Assembly is inaugurated in June.

Lawan reiterated his readiness to chart a harmonious working relationship with the executive if he becomes the Senate president "without necessarily making the legislature a rubber stamp of the presidency and we'll carry out our oversight

functions without fear or favour."

He stressed that as part of his engaging the public about his mission and vision, his media campaign via visit to media houses in Lagos and Abuja will continue this week.

He said: “Last week we embarked on visits to media houses over this our project and we hope to continue this week so as to engage the public by letting them know what we have to offer to take the Senate and by extension the ninth National Assembly to the next level."

Lawan, who expressed happiness with the way stakeholders had so far responded to his ambition declared: "I earnestly look forward to the day of inauguration of the ninth assembly in June."

prestige and effectiveness of the emirate system. It is the caliphate establishment that is the loser.�

He said the governor was exploiting the divisions in the royal house between Muhammad Sanusi II, the Emir of Kano, and his cousins to undermine the emirate and its heritage.

Ardo said: “Some of the members of the caliphate establishment are themselves instigators of the problem

because they are not on good terms with their cousins who are on the throne. “They are forgetting that they are destroying the system of which they hope to one day benefit from. They are in fact benefitting from it because you do not have to be an emir to benefit from the emirate establishment.�

He said though this was not the first time the caliphate would come under attack, silence would embolden the

APC Should Revisit Endorsement, Ndume Urges On his part, Ndume said there is the need for APC to take another look at the adoption of a particular senator by the party for Senate president.

He said this is the only way for the party to carry along all senators-elect of the ruling party in the emergence of the leadership of the next Senate.

According to him, the ideal thing is for the party to allow all senators-elect from the North-east that the position is zoned to agree among them on who to field.

"The party should just allow we the APC senatorselect from the North-east to sit down and do shadow election to choose who should be our candidate for Senate president after which we can now tell the party who our

choice candidate is. So, the party should look at the issue again and I believe there is still enough time to do this," he said.

He said the same shadow election was used in June, 2015 before his emergence then as Senate leader.

Ndume said: "Before the inauguration of the 8th Senate in June, 2015, the party gave the North-east the office of Senate Leader and we were allowed to choose among ourselves and even when senators Goje, Binta and Bayero were interested in vying I was able to convince them and they all settled for me as Senate leader.

"This is the kind of shadow election we should have for the office of the ninth Senate president. What we are saying is that the decision of the party did not go down well with us in the North-east and should be revisited forthwith."

Ndume, who is Chairman of Senate Committee on Establishment, reiterated that the preamble and Article 2 of APC constitution as well as Section 50 of the 1999 Constitution of Nigeria (as amended) frowns at the imposition of any candidate for any election.

He emphasised that if the party fails to rescind its decision on the adoption of a candidate which he described as unfortunate and illegal, he would have no choice but to stand for election as Senate president because he has the constitutional right to do so.

According to him, "God is my strength and has been good to me. I'm a son of nobody who became somebody and the good Lord will not allow this imposition by the party to come to fruition."

GANDUJE PRESENTS STAFF OF OFFICE TO NEW EMIRS to the Governor, Mr. Abba Anwar, told THISDAY: “The governor had already presented the staff-of-office to emir of Bichi, Aminu Ado Bayero, amid jubilation. “We are now on our way to Karaye for presentation of the staff of office to the emir.�

He also said if time permits, the governor would proceed to either Gaya or Rano today to complete the presentation.

The controversy over the breaking of old emirate, however, persisted yesterday as a historian and former lecturer, Dr. Umar Ardo, called on the Sultan of Sokoto, Alhaji Sa’ad Abubakar III, and Muslims to resist the action.

He said the move, which a court had restrained the governor from implementing, would destroy the caliphate even as he accused the Kano royal house of aiding and

abetting the governor.

In an interview published

by The Interview at the weekend, Ardo said: “The Sultan, all members of the caliphate, the Muslim Ummah and the Fulbe people should not only condemn it but should stand up against it. “The emirates have already been created from the time of Shehu Uthman dan Fodio. And if you now start balkanizing them, you are just reducing the

NO MONIES MISSING, STOLEN IN CENTRAL BANK, SAYS OKORAFOR a two-year grace period to 35 states of the federation.

These monies were distributed to the states monthly with documented approval of the Federal Ministry of Finance and the presidency.

It said: “In closing the bank’s 2018 accounts, external auditors in their draft account, erroneously classified about N150 billion of these loans as bad, which negatively affected the bank’s balance sheet and shareholders fund. “The selective conversation being circulated was simply

a discussion to ascertain why the auditors took that position and next steps to resolving it.�

Furthermore, it stated: “Obviously, it soon became clear that a state government loan cannot be classified as ‘bad’ or ‘irrecoverable’ when the state still exists and getting FAAC allocations.�

Owing to this, the bank stated that it then reached out to the Federal Ministry of Finance and they jointly gave comfort to the auditors, who accepted in writing that the monies would be repaid.

On this basis, the auditors

reversed the negative entry and certified that the CBN’s 2018 accounts were a true reflection of the state of affairs.

It noted that reconciliation of balance sheet items are regular conversations among senior management of many agencies and should not be misconstrued as anything but that.

According to the CBN, “Had the online media which released the selective recordings sought the comments of CBN as required of journalism practice, we would have provided it. “Clearly, those who listened

to the audio can easily ascertain that the conversation had nothing to do with anything fraudulent as purported.�

The bank, therefore, urged well-meaning Nigerians to disregard the “audio and continue to trust that the bank is doing everything it can to represent their interests in the best possible way.�

It insisted that under the leadership of Governor Godwin Emefiele, the CBN has always stood for, and vigorously pursued transparency in its stewardship of public resources and policies.

It added: “No monies are missing or stolen. The integrity of the CBN governor remains unassailable. He has no account in Dubai or anywhere in the world and would never convert the funds of CBN for personal use. “Not in the past, not now and not ever. The use of selective wiretapped conversations of the bank’s management, to malign his character and integrity will never stand. The bank will pursue every legal means to bring the perpetrators to justice.�

“bulkanisers.�

Ardo said Sanusi had done nothing wrong but was only being victimised for his outspokenness.

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NGN NGN 0.02 0.25 0.18 2.50 0.03 0.50 2.30 46.00 0.01 0.24 NGN 0.03 0.27 57.90 522.00 0.39 3.54 CHAMSPLC 0.04 0.44 NEIMETH 0.05 0.50 HPE Nestle Nig Plc â‚Ś1,580.00 Volume: 235.228 million shares Value: N1.36 billion Deals: 3,130 As at yesterday 10/5/19 See details on Page 37

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MONDAY, ÍšÍťËœ ͺ͸͚Π˞ T H I S D AY

NEWS

Nigeria Loses 16,458MW to Gas, Grid Constraints Chineme Okafor in Abuja

Nigeria lost 16,458.9 megawatts of electricity as challenges of gas supply, water management and national grid forced 25 of the 29 power generation companies (Gencos) to cut down on their capacities at the weekend, a report from the Office of the Vice President, Prof. Yemi Osinbajo has disclosed.

According to the report obtained from the Advisory Power Team in Osinbajo’s office, only four Gencos were able to fully dispatch their generated volumes within the six-day period.

While five Gencos were completely shut down, others had issues of grid, gas and water management

constraints.

Based on the report, which THISDAY obtained in Abuja, for the six-day period, starting from May 6, 2,078.5MW was not generated into the grid with gas constraint accounting for 1,508MW of this while grid and water management constraints accounted for the loss of 419.5MW and 150MW, respectively.

On May 7, the situation deteriorated with 2,606.6MW lost.

Out of this gas, grid and water management constraints accounted for 1,547.5MW, 909.1MW and 150MW respectively.

On May 8, it further got poorer with 2,733.1MW lost to the constraints.

Shortage of gas supply ensured 1,674MW was not

produced while grid and water management issues resulted to 909.1MW and 150MW again.

Between May 9 and 10, the losses rose to 3,057.1MW and 3,272.5MW, respectively, with gas constraints accounting for 1,674MW and 1,472.5MW, while grid issues accounted for 1,383.1MW and 1,650MW respectively. There was also a water management issue on May 10, which resulted to 150MW unavailable.

On May 11, the total constrained was 2,711.1MW with gas constraint been 1,472.5MW while grid had 1,126.1MW. The report showed that N8.100 billion worth of revenue was lost in this regards.

Further on a day-by-day supply basis, it explained that

4,270MW was supplied to the grid on May 6; 4,426MW on May 7; 3,322MW on May 8; and then an abysmal 1,585MW on May before it went up to 3,069MW on May 10, and then 3,751MW on May 11.

Last Wednesday, the country’s electricity grid experienced a collapse which the Transmission Company of Nigeria (TCN) reportedly said was as a result of a tripping of its transmission line along the Onitsha route. TCN also said a sudden stop of operation by a Genco caused the collapse, and hinted it had asked the Nigerian Electricity Regulatory Commission (NERC) to approve its procurement of a 250MW spinning reserve to forestall such incidences.

Minister of Power, Works and Housing, Babatunde Fashola

N48bn Mismanaged in NSITF, Presidency Alleges Buhari backs Ngige, redeploys Kokori NLC vows to go ahead with demonstration against minister Omololu Ogunmade and Onyebuchi Ezigbo in Abuja The presidency yesterday alleged that N48 billion of the N62 billion contributions to Nigeria Social Insurance Trust Fund (NSITF) was mismanaged by former members of the board between 2012 and 2015.

This is coming as President Muhammadu Buhari at the weekend appointed exlabour leader, Chief Frank Kokori, as the Chairman of the board of Michael Imoudu National Institute for Labour Studies (MINILS) to end festering feud between the Nigeria Labour Congress (NLC) and the Minister of Labour and Employment, Dr. Chris Ngige.

Buhari had initially appointed Kokori to chair the board of NSITF, but Ngige was not comfortable with Kokori's appointment and consequently recommended Austin Enejamo-Isire to the president for approval to head the board.

Ngige said his decision to oppose Kokori's appointment was in compliance with Section 4(a) of the NSITF Act, which he said prohibited the appointment of any person with interest in labour matters to chair the board.

A statement issued yesterday by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said Buhari appointed Kokori to head the board, acting on the recommendation of Ngige.

Adesina who said Buhari had tremendous respect for Kokori, a staunch exlabour leader, said Ngige would swear in members of the Governing Board of NSITF today (Monday) at the Banquet Hall of the Presidential Villa.

Kokori and the NLC have been at loggerheads with Ngige in the past few months over the vehement refusal of the minister to swear in the former Chairman of National Union of Petroleum and Natural Gas (NUPENG) as the chairman of the board of NSITF .

The conflict climaxed last week when the NLC president, Ayuba Wabba, led protesters to picket the private residence of Ngige with two tankers deployed to block the entrance of his house.

However, Adesina who said the presidency condemned the action of the NLC, disclosed that efforts were currently being made to reconcile both the minister and the leaders of NLC, adding that prevalent corruption in NSITF from 2012 - 2015 led to the mismanagement of N48 billion out of the total N62 billion contributions during the period.

He said the face-off between NLC and Nigige over the appointment of the chairman of the board of NSITF necessitated explanations by the presidency.

"Following the

disagreement between the Federal Ministry of Labour and Employment and the leadership of the Nigerian Labour Congress (NLC) over the appointment of the chairman of the board of the Nigeria Social Insurance Trust Fund (NSITF), the Presidency wishes to clarify as follows: "That the NSITF is a hundred percent, Federal Government of Nigeria owned insurance parastatal, under the supervision of the Federal Ministry of Labour and Employment, designed for the role of insuring workers (employees) in the public and private sectors. The organization is empowered by law to implement the Employee Compensation Act (ECA) 2010 with mandate to insure workers and pay them compensation for accidents, deaths and injuries in the course of work.

"The NSITF was bedevilled and riddled with corruption between 2012 - 2015, which resulted in a colossal loss and mismanagement of about N48 billion out of the total N62 billion contributions during the said period.

These were contributions by the Employers – viz government and the private sector for payment of compensation to workers and even to Employers for loss of man-hours by their workers. This fraud has been investigated by the Economic and Financial Crimes Commission (EFCC) and the last Chairman and

some members of the former board and some officials of the NSITF are presently being prosecuted by the EFCC. "All actions taken by the Honourable Minister of Labour and Employment towards the resuscitation and repositioning of this ailing agency, including the Administrative Panel of Inquiry into the affairs of NSITF and the suspension of the inauguration of the board in 2018 were part of the special work plan approved for the Honourable Minister by Mr. President.

"The appointment of the Chairman of this board, which is in consonance with Sec. 4(a) of the NSITF Act CAP N88 of 2004 was also approved by Mr. President since 23rd July, 2018 on the recommendation of the Hon. Minister. Mr. Austin Enejamo-Isire, a Chartered Accountant, Fellow, Institute of Chartered Accountants of Nigeria (ICAN) and renowned Insurance expert, Senior Member, Chartered Institute of Insurance of Nigeria (CIIN), Chartered Institute of Bankers of Nigeria (CIBN) and Chartered Institute of Taxation of Nigeria (CITN) was approved

by Mr. President for this position. Also approved

by Mr. President were the Managing Director and three Executive Directors who had assumed duties since 18 April 2017.

"Others also approved as Non-Executive Directors

The Nigeria Labour Congress (NLC) has said that it will go on with the planned protest in Abuja on Monday despite the explanation given by the Presidency on reasons for the delay in inuagurating the board of the Nigeria Social Insurance Trust Fund.

The President of the NLC, Ayuba Wabba who spoke in a telephone interview yesterday said Monday's protest will be to show labour's displeasure over the alleged abridgement of worker's right to picketing by the Minister of Labour and Employment, Senator Chris Ngige.

"The protest for tomorrow is essentially about Ngige’s trying to bridge the rights of workers to protest and

also sending thugs to attack workers," he said.

Wabba said the statement by the presidency expressing support for the Minister's delay to inaugurate the NSITF's board was coming late.

"It is most unfortunate, we expected that this response should have come earlier than now. In fact we would not have wasted our energy in fighting. “So clearly speaking this is our position and it is very late and why should only this labour market institution now be singled out and also received such a treatment that everyone in one country or the other knows such a thing is going on.

"The issue has dragged on for two and half years.

The response is certainly coming late. We aught to have known the position of government. “But you know after two and half years it is coming late because these are the issues we have written severally, we have campaigned severally about it and in all our meetings, including the delegates conference, we have talked about it," he said.

Wabba also disagreed with federal government's position that NSITF is essentially a govermentown establishment, saying the reason labour has two statutory members and NECA has two representatives on its board is because it is a labour market institution.

operations have led to either the destruction or arrest of various criminals, including bandits and kidnappers from their hideouts.

He also said through such operations, hundreds of captives had been freed.

Adesina listed such

operations to include: Operation Puff Adder by the Nigeria Police, Operation Harbin Kunama and Exercise Egwu Eke III by the Nigerian Army as well as Operations Diran Mikiya and Sharan Daji by the Nigerian Air Force.

are two (2) members to represent the Nigerian Labour Congress (NLC), two members to represent the Nigerian Employers’ Consultative Association (NECA) and one (1) member each to represent the Central Bank of Nigeria and the Federal Ministry of Labour and Employment.

Members of this board are to be formally inaugurated at 9 a.m. on Monday, May 13, 2019 by the Hon. Minister of Labour and Employment at the Banquet Hall of the Presidential Villa, Aso Rock, Abuja," he said.

NLC Vows to Go Ahead with Demonstration against Ngige

EVIL DOERS WILL BE DEFEATED, PRESIDENCY REASSURES NIGERIANS "The Buhari administration remains committed to this, and despite recent spikes in the spate of crime and criminality, the evildoers will be beaten, and badly, too.

"The ravening clouds can never be victorious. Soon,

they shall no longer possess the sky."

The president's mouthpiece, who admitted that these are challenging moments for Nigeria, reiterated that the federal government would deploy all within its reach to rid the

nation of criminal activities and simultaneously restore sanity to the country.

"These are no doubt times of great security challenges for our country, and the President Buhari-led government is not leaving any stone unturned to

restore sanity and calm," he added.

Adesina then proceeded to highlight various military and police operations embarked upon by security agencies since January this year.

According to him, such

10

MONDAY MAY 13, 2019 ˾ T H I S D AY

NEWS

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

FG will No Longer Do Business with AMCON Debtors, Osinbajo Warns Nume Ekeghe Vice President Yemi Osinbajo, at the weekend said the federal government will deal decisively with individuals and organisations that made the list of high-profile obligors of Asset Management Corporation of Nigeria (AMCON).

He said the debtors have made it impossible for the

corporation to resolve its outstanding N5trillion debt, thereby holding the entire country to ransom with their bad behaviour.

Osinbajo was quoted in a statement issued by AMCON, as disclosing a plan by the government to set up an inter-agency collaboration framework that would comprise relevant government

Kano Residents Welcome Emir Sanusi at Airport after Lesser Hajj Ibrahim Shuaibu in Kano Thousands of Kano residents received the Emir of Kano, Malam Muhammad Sanusi II who arrived at the Malam Aminu Kano International Airport yesterday evening after a lesser Hajj in Saudi Arabia.

THISDAY gathered that the Emir’s plane landed at Malam Aminu Kano International Airport (MAKIA) at 4.26 p.m.

Sanusi was welcomed to a tumultuous reception of hundreds of supporters who expressed solidarity with him following his differences with Governor Abdullahi Ganduje.

Ministries, Departments and Agencies (MDAs) and supervised by his office to ensure that institutions and individuals that are indebted to AMCON are not allowed to do business with the government henceforth.

The vice president who spoke when he received some board members and management of AMCON at the State House, Abuja, led by the Board Chairman, Dr. Muiz Banire, said the federal government under the leadership of President Muhammadu Buhari, would no longer fold its hands and allow a few individuals that owe AMCON huge sums of

money to walk freely on the streets in the country.

“I think the time has come for us (federal government) to set some examples with some of these top debtors of AMCON, which I believe will set a good example and serve as deterrent to others,” he said.

According to the statement, Osinbajo was impressed with the performance of the executive management of AMCON under the leadership of Ahmed Kuru, over the recovery successes that had been achieved so far against all odds and promised that the federal government would give the agency whatever support necessary to enable

them go after the obligors that have remained recalcitrant despite the olive branch extended to them over the years by the recovery agency of the government.

“I congratulate AMCON for the work done so far having recovered over N1trillion and counting both in cash and in assets. The work you do as a recovery agency is not something that is particularly easy or encouraging because we all know how Nigeria works.

“But we are committed to working more closely with your administration to ensure that these monies are recovered from AMCON

obligors because it will help our economy and provide the government with more money to continue to improve on the development of infrastructure across the nation,” the vice president explained.

Osinbajo said in the next couple of days, he would invite the AMCON team alongside other relevant MDAs to discuss and fine-tune plans on how to ensure that anybody or agency that is a debtor to AMCON is completely made to face the wrath of the law, adding that those indebted to the government are direct enemies of both the government and the people of Nigeria.

The Emir’s convoy went straight to the palace from the airport, shortly after arrival.

It was also learnt that the journey of 15 minutes lasted hours as the convoy was overwhelmed by the huge crowds that swarmed around the Emir.

Among the traditional title holders at the Airport were Makama Kano; and District Head of Wudil , Alhaji Abdullahi Sarki Ibrahim.

Others include the District Head of Doguwa, Alhaji Aliyu Harazumi Umar, Dan Isan Kano and District Head of Warawa Alhaji Kabiru Tijjani Hashim

Bandits Kill One, Injure Three in Katsina Village Attack The Katsina State Police Command has confirmed the attack on Wagini village in Batsari Local Government Area of the state.

The Police Public Relations Officer in the state, Mr. Gambo Isah, disclosed this in a statement yesterday.

He said, “On 10/5/19 at about 2300 hours, bandits in their numbers attacked Wagini village, Batsari LGA, shot and killed one Saidu Garba and injured three others”.

Isah confirmed that the

assailants were bandits but the command has commenced an investigation into the attack.

He added that efforts were ongoing to ascertain whether there was any connection between the attack and the killing of a suspected informant of the criminals by members of the vigilante group in Batsari.

The command’s spokesman assured the people that the police were already on the trail of the attackers with a view to bringing them to justice.

NLC vows to Go Ahead with Protest against Ngige Onyebuchi Ezigbo in Abuja The Nigeria Labour Congress (NLC) has said that it will go on with today’s planned protest in Abuja against the Minister of Labour and Employment, Dr. Chris Ngige, despite the explanation given by the presidency on reasons for the delay in inuagurating the board of the Nigeria Social Insurance Trust Fund (NSITF).

The President of the NLC, Ayuba Wabba who spoke in a telephone interview yesterday said today’s protest will be to show labour’s displeasure over the alleged abridgement of worker’s right to picketing

by Ngige.

“The protest for tomorrow is essentially about Ngige’s trying to abridge the rights of workers to protest and also sending thugs to attack workers,” he said.

Wabba said the statement by the presidency expressing support for the minister’s delay

to inaugurate the NSITF’s board was coming late.

“It is most unfortunate; we expected that this response should have come earlier than now. In fact, we would not have wasted our energy in fighting.

“So, clearly speaking, this is our position and it is very late and why should only this labour market institution now be singled out and also received such a treatment that everyone in one country knows such a thing is going on?.

“The issue has dragged on for two and half years. The response is certainly coming late. We ought to have known the position of government.

Wabba also disagreed with federal government’s position that NSITF is essentially a goverment-owned establishment, saying the reason the labour has two statutory members and NECA has two representatives on its board is because it is a labour market institution.

STANDING UP FOR THE LORD…

L-R: Lord Bishop of Asaba Diocese, Rt. Revd. Justus Mogekwu; Delta State Governor, Senator Ifeanyi Okowa; and Bishop, Diocese of Dutse Synod and Guest Preacher, Rt. Revd. Markus Danbinta, during the Diocese of Asaba (Anglican Communion) Ecclesiastical Province of Bende, first session of the 15th Synod, at St’ Paul Anglican Church, Ubulu-Okiti, Delta State...yesterday

Army Kills Scores of Terrorists, Two Soldiers Wounded in Borno Kingsley Nwezeh in Abuja The Nigerian Army said weekend that it killed scores of terrorists in separate operations in Borno State, while two soldiers were wounded in the encounters.

It said troops of 212 Tank Battalion under operational Command of 7 Division Garrison, Gajingana, ambushed terrorists attempting to infiltrate the troops’ location in the town, killing scores of the insurgents.

A statement issued by the army’s spokesman, Col. Sagir Mohammed, said troops of 121 and 192 Battalions of Operation Lafiya Dole, in collaboration

with Civilian Joint Task Force (JTF), and local vigilantes, in another fierce encounter, killed four terrorists.

It said the action was in continuation of its clearance operations to end the Boko Haram scourge carried out in Surdewalla, Ranwa, Baladayo, Sabon Gari and Shetimeri villages of Borno State in a simultaneous operation code named “Operation Hard Strike.”

“At Ranwa 11, contact was made with the terrorists, three of them were neutralised, while many were obviously wounded and others escaped.

“Simultaneously, troops of 192

Battalion advanced along Sabon Gari and Shetimeri villages where they cleared a scout of Boko Haram terrorists. A makeup shift shelter for suspected insurgents was destroyed.

“Similarly, based on credible intelligence, troops of 212 Tank Battalion under the operational command of 7 Division Garrison deployed at Forward Operation Base Gajigana, ambushed terrorists attempting to infiltrate Gajigana town/troops’ location.

Unconfirmed number of terrorists was exterminated.

Two soldiers wounded during the encounter are stable and receiving treatment in a military

hospital,” the statement said.

Musa said an exchange of fire in another operation led to the death of one terrorist.

“Additionally, 177 Task Force Battalion in collaboration with the Civilian JTF cleared Mboa, Mboa-Kura, Yarchida, Bombula, Tshata and Bamzir villages. At Furfur village, troops had exchanged fire with Boko Haram terrorists, which led to the death of one terrorist”, he added.

He said troops recovered one AK 47 rifle, three magazines, 50 rounds of 7.62 mm special ammunition and one magazine bandollier.

Boko Haram: UNDP Intensifies Training for Civilian JTF, Vigilantes Seriki Adinoyi in Jos As the war against Boko Haram continues to rage in the Northeast region, an additional 577 members of Civilian Joint Task Force (CJTF) and vigilantes, who are involved in the fight against the insurgency, were at the weekend graduated after two weeks intensive training in Jos,

the Plateau State capital, to further complement the efforts of the military.

The training, which was organised by the United Nations Development Programme (UNDP), drew participants from the three states of Borno, Yobe and Adamawa where the insurgency has worst hit.

Addressing the participants

at the closing ceremony of the programme held at the Citizenship and Leadership Training Centre in Jos, UNDP Resident Representative in Nigeria, Mr. Frederick Ampiah, expressed worries that Boko Haram has left the region and its people with huge negative impact, adding that UNDP was not about to relent in its efforts to

ensure that the region is liberated.

Ampiah, who was represented at the event by Head of Governance, Peace and Security of UNDP, Mr. Mathew Alao, added that the training was also geared towards guaranteeing peace and stability, activating the local economy of the region as well as making the beneficiaries economically viable.

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COMMENT

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

POLITICIANS AND THE CRAZE FOR PENSION Politicians should think more of service to the people, writes Tony Ademiluyi

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tto Von Bismarck, the former German Chancellor bequeathed the legacy of pensions for civil servants in the then German empire. He was worried that many German civil servants were retiring into poverty as a result of inflation and the vagaries of day- to- day living in the empire. A pension plan was necessary to act as a buffer for hardship in old age. This legacy spread around the world and its one of the attractive benefits of being a civil servant anywhere in the world.

Nigerian civil servants have always been receiving the short end of the stick since time immemorial. Whether it was during the military or civilian regimes, civil servants have never known economic peace after their retirement whether voluntary or forced. Many have been turned into mendicants who are worse than their professional counterparts.

The sight of them begging for government attention in the twilight of their lives sends goose pimples to many members of the public. It is one reason why many current civil servants are corrupt as corruption is about the only route to prevent hunger and lack after retirement.

The avaricious and greedy political class for no justifiable reason got attracted to the idea of a pension plan after leaving office to the detriment of the hapless citizenry.

It first started in 2007 in Lagos â&#x20AC;&#x201C; â&#x20AC;&#x2DC;the Centre of Excellence.â&#x20AC;&#x2122; The Lagos State House of Assembly passed a law giving the Governor and Deputy a hefty pension for life. It included a house in Lagos and Abuja, cars and domestic aides as well as medical expenses in any part of the world.

Like a virus, it spread to some other states of the country like Rivers, Akwa Ibom, Kwara, amongst many others. The legislators must have felt used as they passed the law they werenâ&#x20AC;&#x2122;t benefitting from. What is sauce for the goose should equally be sauce for the gander.

The Bayelsa State House of Assembly fired the first salvo by sending a bill to Governor Seriake Dickson to give members present and past including Bayelsan members who served in the Old Rivers State House of Assembly a pension for life. Dickson fortunately refused assent to the bill.

Ekiti State, fondly known as the â&#x20AC;&#x2DC;Fountain of Knowledge,â&#x20AC;&#x2122; followed suit by sending a similar bill to Governor Kayode Fayemi for assent.

The nation is currently battling infrastructural deficits amidst a plethora of challenges plaguing the states. Ekiti has been finding it extremely challenging paying salaries to their civil servants and the only thing these legislators can think about is their personal interests and furthering their nests. So many states are currently insolvent and the only thing these so-called â&#x20AC;&#x2DC;public servantsâ&#x20AC;&#x2122; can think about is in implementing anti-people policies to the detriment of those they purport to â&#x20AC;&#x2DC;serve.â&#x20AC;&#x2122; The level of unemployment is heart-wrenching and the poverty is excruciating. It is tragic that the only thing on the minds of these lawmakers is on

THE NATION IS CURRENTLY BATTLING INFRASTRUCTURAL DEFICITS AMIDST A PLETHORA OF CHALLENGES PLAGUING THE STATES

how to use the instrumentality of the law to impoverish the man on the street.

What is the rationale for pension for a member of the executive or legislature who in some cases serves for four only years and within that time must have amassed a fortune?

Politics is the most lucrative business in Nigeria which explains why the stakes are so high. People are willing to kill and maim for it as itâ&#x20AC;&#x2122;s about the only trade in the country that is more profitable than winning a mega jackpot. In advanced countries, politics is seen as an instrument of service. Tony Blair started making his millions after he stepped down as Prime Minister in 2007 after being in politics for 24 years. Bill Clinton couldnâ&#x20AC;&#x2122;t afford a house after close to three decades in American politics. His lucrative speaking career kicked off after he left the White House. Nelson Mandela only did one term of five years as President of the Rainbow country and never demanded for a pension as compensation for his 27 year stay in Robben Island which his compatriots would gladly have obliged him as his case was a locus classicus in public service. Heroes like Julius Nyerere, Lee Kuan Yew, Mahathir Mohammed, etc., never asked for pensions despite their contributions to nation building. In Nigeria, some councillors can afford houses in Ikoyi or Lekki after serving for just a term of three or four years.

The legislators in Bayelsa State think that the oil wealth will last forever, forgetting that most nations of the world are moving away from oil. The demand for Nigeriaâ&#x20AC;&#x2122;s oil in the global market has dropped tremendously. Latest reports show that the United States demand for our oil has dipped by 89%. This feeling of entitlement would cease when in 50 years time, the nation would be left behind as electric cars may be the next big thing. Saudi Arabia, one of the largest oil producers has already set up a fund to plan for a post oil economy.

The CEO of Royal Dutch Shell drives an electric car to show that the nation is sitting on a time bomb with its sole dependence on oil.

It is a shame that the so-called Fountain of Knowledge state which is ironically one of the nationâ&#x20AC;&#x2122;s poorest is steeped in this mess. The world has long moved to human capital development. Think critically â&#x20AC;&#x201C; Facebook is the largest social media conglomerate in the world and they produce no content; Uber is the biggest taxi service and they own no taxis. A lean economy is what the world is gradually shifting into.

One would have thought that Ekiti with the highest number of professors in the country would have developed blue prints for the nationâ&#x20AC;&#x2122;s economic development. Itâ&#x20AC;&#x2122;s sad that the only thing preoccupying the minds of these lawmakers is on how to grow emergency pot bellies and further impoverish the electorate.

The madness in the polity must cease!

Ademiluyi wrote from Lagos

CHANGING THE ICT NARRATIVE IN NIGERIA Soji Ehinlanwo canvasses new policy initiatives for democratisation of ICT

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n the side-lines of an International conference in the UK, I got drawn into a debate hovering around the global state of Information and Communications Technology. A robust discussion that started with a review of ICT development or performance across a number of leading European and Asian Countries inevitably dovetailed into a review and analysis of ICT performance in specific African countries of which Nigeria became a major focus partly because of my involvement in the debate but mainly on account of the high expectations and hopes many have held and still nurture about Nigeria. Without mincing words, the specific discussion around Nigeriaâ&#x20AC;&#x2122;s ICT development revealed quite depressing statistics and information, especially when viewed in relation to developments in several other countries including quite a number of African countries and made me undoubtedly very uncomfortable My discomfort arose from a number of factors which included the following: one, Nigeriaâ&#x20AC;&#x2122;s poor ranking on the latest ICT development index reflected in a 2018 report published by the International Telecommunication Union (ITU) which puts the country in a disappointing but not surprising 143rdposition out of 176 countries whose ICT developmental levels were measured. Even more confounding is the sobering reality that in the African index of the same report, Nigeria is rated 15th behind countries such as Ghana, South Africa, Mauritius, Kenya, Gabon, Zimbabwe and even Cote dâ&#x20AC;&#x2122;Ivoire. Two, Nigeria has an excellent pool of highly experienced and talented ICT professionals dispersed across many parts of the world including Europe and North America â&#x20AC;&#x201C; some of whom I have come across in my own ICT career -whose skills are being harnessed to further develop the ICT potential of major countries in Europe and North America, yet paradoxically Nigeria still struggles both in perception and reality in terms of the development of the ICT capabilities of the country. In my mind, that really doesnâ&#x20AC;&#x2122;t square up.

Three, successive governments have made modest

financial investments presumably aimed at positively changing the ICT landscape, yet it does appear that these investments have not yielded as much as have been anticipated in terms of outcomes or indeed in relation to changing existing disappointing rankings.

Four, there certainly has not been a shortage of policy documents â&#x20AC;&#x201C; possibly arising out of numerous workshops/conferences ostensibly aimed at enhancing ICT capabilities and usage â&#x20AC;&#x201C; but yet we are still very far from where we should be and achieving well below available possibilities Notwithstanding what is certainly an un-cheering background, I venture to affirm that there need not be despair and of course this leads me inexorably to pose the pertinent question - How can we change the reality now and its narrative as it stares us in the face?

First and foremost, there needs to be an urgent policy shift in respect of the drive to make ICT pervasive in our country â&#x20AC;&#x201C; in a way that puts the country on the highway of digitization and enables us to harness the full potential of ICT in our transformation efforts across all critical areas including agriculture, manufacturing, health, finance, education, etc. As Mr Akinwunmi Adesina â&#x20AC;&#x201C; the African Development Bank President posited in the 2019 Mo Ibrahim Governance week, new policy initiatives are required which should be aimed specifically at the democratization of ICT adoption â&#x20AC;&#x201C; a key plank of which he argued must be a legislation or policy to make code learning compulsory across all levels of our institutions. This position is certainly in tandem with my own thoughts and I believe this will require an important update in our school curriculum in a way that exposes our youngsters to coding techniques across many of the modern areas of ICT such as database programming, machine learning, artificial intelligence, Web technology including web analytics, big data analytics, 3D Printing as well as other ICT tools with the potential to engender a new wave of innovation that could possibly help in the resolution of our youth unemployment challenges and boost income potential and GDP. Financial investments in ICT need to be shaped by

new thinking. While admittedly, investments outlay so far by successive governments do not match aspiration to make ICT a key driver of economic growth and social inclusion, it is pertinent to aver that in many respects, there are reasons to doubt that we have gotten optimal value from even the little capital provisions and investments that have been allocated to ICT. There needs to be not only targeted financial investment in ICT infrastructure build â&#x20AC;&#x201C; but clear and verifiable cost and benefit analysis of such investments â&#x20AC;&#x201C; particularly in relation to how they contribute to economic growth, their potential for stimulating employment both in the short term and long term and to what extent they help to extend government agenda of social inclusion. These are by no means the only criteria that should be used for evaluating and determining financial investment in ICT; a raft of other cost / benefit factors must also be added to shape how allocations to ICT are deployed â&#x20AC;&#x201C; so as to ensure optimal outcomes are achieved in respect of all ICT related capital outlays.

The value of such carefully â&#x20AC;&#x153;programmedâ&#x20AC;? thinking in relation to ICT capital investments is that it could help to significantly raise rankings as well as, more importantly, enhance transformation efforts in other areas of economic, political and social development One of the sad ironies of our poor ranking in ICT performance and development is the fact that while our ICT development growth appears to be slow and unimpressive, we can rightly boast of a vast pool of excellent ICT resources dispersed around the world. We urgently need to find a way to harness these pools of expertise in order to radically re-define our internal ICT potential and capabilities. They can be a veritable tool for stimulating training and investments in the local ICT market. India has over the years become a major ICT outsourcing and ICT capabilities country for major European and North American Countries through a tenacious pursuit of partnership between Indian ICT professional in Europe/North America and local talents as well as a vigorous and positive development of local capabilities and skills - all supported by government which has helped to engender confidence by

European and North American companies in skills resident in India â&#x20AC;&#x201C; of course quite apart from the cost advantage for these companies. We urgently need a new template that gradually brings us to compete with India in this sphere .Undoubtedly, it will take a great deal of planning, effort and determined focus but yet it is clearly achievable While the idea of workshops and seminars which aim to evaluate the possible means to enhance ICT performance are certainly a welcome one and could of course stimulate discussion and lead to important policy documents, we need to start to prioritise workshops/ policy documents and initiatives that focuses more on the inherent issues and factors particularly peculiar to us which limit ICT usage and confidence building â&#x20AC;&#x201C; consequently hampering growth. For example, we urgently need to tackle the negative narrative promoted by an extremely tiny minority of our youths- who interestingly possess some IT skills â&#x20AC;&#x201C; but who unfortunately deploy these for nefarious activities which undermine the hard work of many enterprising young people and end up creating a very bad narrative for the country â&#x20AC;&#x201C; affecting confidence and investments from outside the country in our potential ICT capabilities.

I am talking about what has come to be known as the â&#x20AC;&#x153;Yahoo boys/girlsâ&#x20AC;? problem. We urgently need to deal with this In all , for Nigeria to achieve his true potential in ICT development and performance, a new and fresh raft of thinking, policy initiatives and investment push needs to be unveiled that consolidates not only on whatever modest achievements have been made but importantly maps out a new trajectory for ICT growth that inevitably lead to better ranking on the global ICT index as well as actively supports our ambitious political, economic and social development aspirations. As the new APC government under President Muhammadu Buhari prepares to commence its second four years term, there is no better time to initiate this new journey in promoting a new digitization agenda Prince Ehinlanwo, an ICT consultant, wrote from the UK

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T H I S D AY MONDAY, MAY 13, 2019

EDITORIAL Bane Of Uncontrolled Population Government must put out measures to put the rising population in check

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ased on the latest United Nations estimates, Nigeria’s population growth is frightening. Between October last year and now, the population has ballooned from 195.9 million to 201million, an increase of 5.1 million. At the present rate of growth, the country’s population is expected to double by 2050, thus becoming the third most populous country in the world after China and India.

For many countries, huge population symbolises strength. China and India, for instance, have put their huge populations to great advantage. At the last count, China is the world’s second largest economy and indeed on the verge of overtaking that of the United States of America. But this did not come without planning. China, the number one exporter of goods, until recently kept its population at bay with its one-child per couple policy while the Indian state encourages some form of family planning. India is coming up strong as a leading manuA COMBINATION OF facturing country, a SUSTAINED NEGATIVE technological-savvy ECONOMIC GROWTH nation and a destinaAND AN UNCONTROLLED tion for medical tourism.

DEMOGRAPHIC BULGE Nigeria’s problem, HAS PUT THE COUNTRY therefore, is not its IN A VERY DIFFICULT AND growing population.

POTENTIALLY EXPLOSIVE Indeed, Nigeria’s SITUATION young population could be of great demographic advantage if the policymakers can design appropriate policies. Rather, it is the lack of a productive one and a failure to plan for the large population. The United Nations Population Fund (UNFPA) report stated that the average number of births per woman in Nigeria stood at five, doubling the global average of 2.5 in 2019, adding that contraceptive prevalence rate among Nigerian women aged between 15 and 49 is only 19 per cent. Millions of women have no access to effective family planning methods for reasons ranging from lack of contraceptives to ignorance and religious beliefs.

Letters to the Editor

A combination of sustained negative economic growth and an uncontrolled demographic bulge has put the country in a very difficult and potentially explosive situation. Nigeria, the seventh most populous country in the world, has a fertility rate that far outstrips its economic growth. But as the population continues to rise amid decaying infrastructure and social services, there are no policy measures to address the demographic danger. It is a simple economic fact that population growth that is not matched with commensurate development in the socio-economic sector and education for the citizenry can only breed chaos.

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

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

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

BETWEEN GOV GANDUJE AND EMIR SANUSI

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ne of the resilient arguments against the establishment of state police is the retailing of the abusive power of the badge to governors.

And really, this contention is germane if situated in the actualities of today. Why should “police power” be given to governors who see themselves as “constituted authority”? Who indiscriminately savage the treasury in the name of “security vote”, and who run local government authorities like fiefdoms?

I admit, state policing may enhance security in the country, but I think, it will create a much bigger problem with the sort of governors that emerge every election cycle. And that is, “provincial autocracy.” At present, in states is where the crudest form of tyranny thrives, but this is often ignored, while all preying eyes are cast on the federal government. In most states, the governors are the executive and the legislature; the state assemblies only exist as an extension of the office of these actors.

Although even now, sometimes, security forces are deployed in elections to compromise them, but there is a limit to this executive banditry. For example, during the governorship election in Kano, the deputy governor of the state was detained for allegedly trying to influence the process. This was an utterance of integrity on the part of the Kano police leadership led by Mohammed Wakil. But with state police, and even if there are inhibiting laws against abuse of the force, there is no ceiling to

he Central Bank of Nigeria (CBN) director of Monetary Policy, Dr. Moses Tule said recently that Nigeria’s population had become a liability and would remain so unless it expands its economic base by stimulating the economy and producing the needed goods and services to sustain it. Figures available paint a dire situation of millions of Nigerian youths roaming the streets looking for work but finding none.

The situation is compounded by the prevailing economic condition that has necessitated a situation in which rather than hire, many private enterprises now fire their staff in the name of rationalisation.

The danger of such a high level of idleness among millions of young persons is already manifesting in the high level of crimes in virtually every corner of the country. Whereas the multitude of violent outbursts might have religious and ethnic colorations and undertones, it is a notorious fact that most of the people in the fields and trenches are youths who if otherwise meaningfully engaged would have been unavailable for those anti-social endeavours. Joblessness and frustrations are evidently fuelling the frequent cases of unrest across the country.

Nigeria must thus sit up to address the growing population problem. First, we must do a credible head count, stripped of politics to stop the dependence on international agencies for “estimated” figures. Accurate head count will aid planning. Nigerians also need to be reminded that a sustainable society is the one with moderate population growth that enables its members to achieve a good quality of life.

what these emperors can do going by the realities of today.

The Gordian knot of governance in Nigeria has always been “lack of accountability” and “abuse of immunity”. How can money-grubbing governors, who enjoy immunity from prosecution, be checked while in office? How can Abdullahi Ganduje, Kano State governor, who was caught on video receiving bribes, be curbed? And who can rein him in now that he is on “Mission Vendetta” against Sanusi Lamido Sanusi, Emir of Kano, and by dint of his political witchcraft weathering the traditional institution of the state?

I think I know Sanusi’s guilt in all of these. He is guilty of being himself; of being the gadfly, the iconoclast and rebel.

However, beyond Kano, this political devilment has made it obvious that the heads of our traditional institutions rest on the platter of politicians, and they could have them “guillotined” when they are out of favour.

But how can traditional institutions serve the people when their oxygen is regulated by politicians? And why do we have them if they cannot function independently? If traditional institutions are custodians of our culture, why should they exist as the bureau of politicians? An emir reporting to a local government chairman?

I believe the laws establishing traditional institutions need a review now!

Fredrick Nwabufo, fredricknwabufo@yahoo.com>

NGIGE AND THE ABUSE OF POWER

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olitical power is all around us, visible and invisible. It is demonstrated in the everyday social relations, in people ideologies and their actions. The concept of political power is enshrined in ‘power over’, ‘power to’, and ‘power of.’ We refer to ‘power over’ as authority, ‘power to’ as right, and ‘power of’ as capacity.

The Minister of Labour is exercising power over by witch-hunting Frank Kokori from ascending the chairmanship of the Nigeria Social Insurance Trust Fund (NSITF). It is disheartening that Nigeria is a country where leaders can take sudden decision without a formal notification. Over 500 ministries, department and agencies of government committees for appointment of board of directors were inaugurated three years ago. Among them is NSITF. Several meetings have been held in the last three years with board of directors appointed and Frank Kokori was appointed as chairman of NSITF and the presidency gave its assent. Why is it that it is only Frank Kokori that is being prevented from being inaugurated? Chris Ngige claimed that majority of the board of directors of NSITF were not technocrat and that there was a need for the chairmanship position to be occupied by a technocrat. Why is Ngige just noticing now? This action by the Minister of Labour is unacceptable. The presidency must call Chris Ngige to order and instruct him to inaugurate Frank Kokori as chairman of NSITF without further delay.

Pedro Ukokobili, Lagos

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T H I S D AY ˾ MONDAY MAY 13, 2019

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INEC AND A DANCE OF INFAMY On Friday, May 10, in the year of our Lord, 2019, at 8pm a new chapter was opened in our continuing descent, as a people, into the realms of absolute lawlessness and infamy.

At that hour, INEC, the supposed impartial Electoral empire, chose to deliberately go against our Electoral laws, and in defiance of both the judicial processes and the sanctity of our long held applicable principles of the Rule of law.

At that infamous hour, INEC officials issued what they claim to be Certificate of Return on the Delta North Senatorial Election to one Ned Nwoko - a person who is unknown to either the electioneering campaigns nor the Senatorial election itself which took place on 23rd February, 2019 and who did not participate in that election.

INEC claims it was acting pursuant to the Judgment of a Federal High Court, sitting in Abuja. But, the Court, in its Judgment never gave any such order to issue a certificate. Nor, could it have given such an Order in view of the extant Constitutional provisions and those of the Electoral Act which specifically state that no Court or Tribunal shall declare, as returned, any person who never participated in all stages of the electoral processes in any election.

That apart, following the delivery of the Judgment, and notwithstanding that the Court was clear and specific in its refusal to grant any enforceable Reliefs in favour of the Plaintiff, Senator Nwaoboshi, the Senator-elect, nevertheless, proceeded, and only for purposes of clarity and the avoidance of doubt, on Appeal to the Court of Appeal, specifically, on the ground that the Court had no jurisdiction to have even entertained Mr. Nwoko’s action, in the first place.

The Distinguished Senator did not stop there: he, equally, brought a Motion before the Court of Appeal for the stay of the Order for the publication of the name of Mr. Nwoko as a Candidate- long after the elections have been held and Senator Nwaoboshi declared the winner and the Certificate of Return issued to him by INEC. INEC was not only aware of all these, it was, equally, served with all the Court processes in the Appeal. And, as a party to both the action at the Federal High Court and both the pending Appeal and the application for stay, it has continued to participate in all the proceedings where it is fully represented by its lawyers.

As a believer in the Rule of law, and with absolute belief in our judicial system to dispense justice to both the high and the low, the Distinguished Senator Nwaoboshi remains unshaken on the following grounds: 1.

He was duly declared the Senator-elect for the Delta North Senatorial District, and remains so, unless and until a Court of competent jurisdiction declares otherwise.

2.

The Certificate of Return duly issued to him by INEC remains sacrosanct and cannot be withdrawn or invalidated save by due process of law.

3.

This unlawful and illegal attempt by INEC to purport to claim to have issued another Certificate of Return on the self-same Delta North District shall be duly challenged and tested before our law Courts.”

The distinguished Senator enjoins his teeming supporters not to panic but remain steadfast because the electoral mandate willingly given to him by the good people of Delta North cannot be taken away through the back door.

LUKA IGBONOBA

Special Assistant to Senator Peter Nwaoboshi

T H I S D AY ˾ ͯͱË&#x153; Ͱͮͯͷ

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T H I S D AY ˾ MONDAY MAY 13, 2019

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T H I S D AY Ëž Ëž ͚͝Ë&#x153; ͺ͸͚Î

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

A Glimmer of Hope for Grassroots Governance Nseobong Okon-Ekong, James Sowole, Hammed Shittu, Seriki Adinoyi and Emmanuel Addeh write on the ripples over the federal government directive that funds meant for local governments should be disbursed by them directly

Tukur

Buhari

O

ne of the major items in the proposed amendment of the Constitution of Federal Republic of Nigeria 1999 as amended is the proposal for local government autonomy, particularly the issue of fiscal autonomy for local governments, allowing fund allocated to the 774 councils in the country, go directly into their accounts. This will abrogate the current situation that permits the third tier of government to run a joint account with the state governments. Often, this situation leaves the local governments at the mercy of state governors.

In the current practice, each state of the federation maintains a State Local Government Joint Account into which all moneys allocated to local governments in a particular state are remitted and from which state government distributes

to councils.

This practice some people argue, has turned local government into workersâ&#x20AC;&#x2122; salaries paying organ as states release money only for payment of salaries while councils have to apply to state governors and government for any other money they want use for any project in their areas.

The practice has therefore, affected adversely the role of community and grassroots development that local government, which is the closest to the people ought to perform.

Many people see the operation of State Local Government Joint Account as one of the reasons that encourages states not to conduct local government election. This is because any appointee of any state government can be removed anytime he or she does anything contrary to the wishes of the governor.

Abayomi When opportunity came therefore, for the amendment of the constitution in such a way that will give local government autonomy, it was vigorously pursued at the National Assembly.

However, for an issue like that to get through, the approval of the two third of 36 State Houses of Assembly.

It was at this stage that the matter got stuck before preparation for the 2019 national elections took precedent over every other matter of general importance.

It therefore became interesting when the Federal Government recently took a decision that many people believed would rescue local government from misappropriation of their monies by state governments, which just gives them mainly fund to pay salaries.

The Federal Government had therefore opened

a new topic for debate with the directive.

Since announcement of the directive that allocation to 774 local governments from the Federal Account Allocation and Fiscal Committee (FAAC) should go directly to councils from June this year, various stakeholders including former chairmen of councils have been reacting on the matter.

In Ondo State, a former Chairman of Akure South Local Government, Mr Afolabi Akinbowale, described the Federal Governmentâ&#x20AC;&#x2122;s directive as a welcome development.

Akinbowale, was the Chairman between 1999 and 2002, the Chairman of the Association of Local Government Chairmen of Nigeria (ALGON), Ondo State chapter and National Vice Chairman of the association in Nigeria.

The former chairman, was in office when funds were remitted directly into the account of local

â&#x20AC;&#x2DC;Policy is Good, But Not Constitutionalâ&#x20AC;&#x2122; Dr. Emmanuel Lomang former Acting National President of the Association of Local Governments of Nigeria and Plateau State Chairman of ALGON fields questions from Seriki Adinoyi on the recent directive of the Nigerian Financial Intelligence Unit that seeks to transmit monies directly from the federation account to the local governments. Lomang is one of the longest serving local government Chairmen of Barki Ladi local government area of Plateau State, having presided over its affairs for seven years Whatâ&#x20AC;&#x2122;s your opinion on the new policy of separate local government account?

Having been a local government chairman for about seven years, and also Chairman of Association of Local Governments of Nigeria (ALGON), and one time Acting National President of ALGON, I can tell you honestly that this policy is the right one.

During my tenure as ALGON President, we had written memos ad organised seminars upon seminars on the need for local government autonomy, but nothing came out of it; our memos didnâ&#x20AC;&#x2122;t see the light of day.

Why do you think the National Assembly was â&#x20AC;&#x2DC;unwillingâ&#x20AC;&#x2122; concerning the issue?

What we realized is that we have many

QUICK FACTS: r4FDUJPO PG UIF $POTUJUVUJPO of the Federal Republic of Nigeria 1999 (the â&#x20AC;&#x153;Constitutionâ&#x20AC;?) provides for the establishment of a special account to be called â&#x20AC;&#x153;the Federation Accountâ&#x20AC;? into which all revenues collected by the Government of the Federation (except for personal income tax of personnel of the armed forces of the Federation, the Nigeria Police Force and the Ministry of Foreign Affairs and residents of the Federal Capital Territory) shall be paid.

The funds collected in this account are required by Section 162(3) of the

of them as former governors, who are now senators. Some of them have been manipulating local government funds in their states, so they saw it as normal, and didnâ&#x20AC;&#x2122;t see the need for our agitation. They wanted to continue.

So, I see what the President has done as logical and commendable because this will now bring development to the grassroots.

But I must be fast to add that machineries must be put in place to checkmate activities at the local government level. I am aware that there are limits to withdrawal; for instance cash withdrawal of funds has a limit of N500,000. Honestly it will get-up development at the local government level.

Constitution to be distributed among the Federal, State and Local Governments in the Federation who then utilize their share to meet their respective obligations r4FDUJPO SFRVJSFT FBDI 4UBUF UP maintain a special account to be called State Joint Local Government Account, into which shall be paid all allocation to the Local Government Council r/JHFSJB IBT MPDBM HPWFSONFOUT carved out of the 36 states of the federation r'SPN +VOF TUBUF HPWFSONFOUT must stop spending from funds allocated to the local governments, according to the directive from the Nigerian Financial Intelligence Unit r 5IF HVJEFMJOFT TUJQVMBUFT UIBU UIF KPJOU

But is the policy supported by the constitution?

No, it is not constitutional. You see, this is where I have problem with this government.

It is too autocratic. Their ideas may be good, but it has to follow the right process. We are in a democracy, and procedures must be followed.

It is a good idea, but there are amendments that must be done to the 1999 constitution, which is where the National Assembly comes in.

That was why during my tenure we worked together with the Nigerian Union of Local Government Employees (NULGE) to put pressure on the National Assembly.

account system currently in use would only serve the purpose of receipt of allocations from the federation account, but not for disbursement r5IF OFX NFBTVSFT IBWF CFFO JOUSPduced by the current administration to restore LGAâ&#x20AC;&#x2122;s financial autonomy r"UUFNQUT UP BNFOE UIF DPOTUJUVUJPO requires approval by two-third of the state houses of assembly and since they are largely populated by appointees of the governors, the members can hardly go against the interest of the governor r5IF /'*6 EJSFDUJWF DPOUSBWFOFT UIF provisions of the Constitution of the Federal Republic of Nigeria 1999 as amended r0OF PG UIF SFBTPOT UIF KPJOU BDDPVOU

Lomang

Do you foresee the governors going to court to stop it?

Well, I wonâ&#x20AC;&#x2122;t be surprised if they do since it is not constitutional, and in a democracy you cannot jettison the constitution.

system came into operation was that some local governments got zero allocation from the federation, it therefore became necessary to pool monies from all local governments in a state and dispense them according to need r/JHFSJB T DVSSFOU NPOUIMZ SFWFOVF sharing formula states that the federal government takes the biggest share of 52.68 per cent from the federation account.

The 36 states take 26.72 per cent, while the balance of 20.60 per cent is handed to the 774 local governments r5IF /'*6 EJSFDUJWF TUBUFT UIBU UIFSF shall be no cash withdrawal from any local government for a cumulative amount exceeding N500,000:00 per day

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MONDAY DISCOURSE

Adisa

James

Zubair

Ashiru

governments.

Akinbowale said the current practice does not make local government accountable to the people because they are mostly appointed by state governors, who can remove them anytime.

He said, â&#x20AC;&#x153;During our time, we got our money directly and people were asking us questions about their monies. We were accountable to the people that elected us. It is different from the current practice where governors appoint chairmen, collect their monies in the name of State Joint Local Government Account (JAC), give them money to pay salaries and misappropriate the rest. The case is even worst at a time when a governor uses the local government money to build markets and took control of the market simply because the state added little part of the cost of building such markets. It is the responsibility of the local government to build markets, collect rates and perform other functions that are spelt out in the constitution. But states have taken over all these functions and have rendered local government redundant and irresponsible.

With this new directive, local governments will have money to build markets, maintain them and execute projects through which they can generate money. I congratulate the local government system for the new action of the federal government. I do not support the practice cripples the local governments simply because the state is the one controlling their money, which make many states not to conduct election into local governments. With the new directive, people can hold local government chairmen accountable for their actions and inactions unlike when the governor is the Alpha and Omega.â&#x20AC;?

In the view of Constitutional Lawyer and Human Rights Activist, Dr Tunji Abayomi, more fundamental actions have to be taken beyond the prevailing sentiments. He insisted that the NFIU directive contravenes the provisions of the Constitution of the Federal Republic of Nigeria

1999 as amended.

He said until the constitution is amended further to accommodate new provision, whatever is done by anybody or any government agency cannot stand.

Abayomi argued, â&#x20AC;&#x153;The first paragraph of the constitution states that the constitution is the supreme authority all over Nigeria. The provision of the constitution in Section 1 sub 5 is that any money accruing to the local government shall he paid to the state. So the Federal Government has no constitutional right to direct that money should be paid into the account of local government directly. What the constitution says therefore is that the amount due to local government councils in the federation account shall be allocated to the states for the benefit of their local government councils. It then provides that each state in Section 162 sub 6, that each state shall maintain a special account called State Joint Local Government Account to which all allocation to local government council for the local governments shall be paid.

Any other account, for the payment of money to the local government instead of joint account provided for or created by Section 162 sub 6, will be inconsistent with the constitution and will amount to violation of the constitution and it will be wrongful. The Federal Government cannot surreptitiously or forcefully or use the strength of its position, do what the people have not constitutionally approved. Government, in democracy lives on the wishes of the people. If the Federal Government is unable to persuade the people and the legislative houses both at the federal and the state levels and are unable to amend the constitution to achieve the interest or objectives, it cannot unilaterally do it. It would amount to violation of the provision of the constitution.â&#x20AC;?

The legal practitioner also stated that the new directive also contravenes the provision of Section 7 of the constitution which places the funding and even existence of local government under

the state House of Assembly. â&#x20AC;&#x153;The problem is that regardless of interest of the federal government intention, it will amount to unlawful act and the violation of the constitution.

The federal government cannot on the mark of goodwill take a decision that counteracts the provision of the constitution. It is not just about the goodwill it is about the good law. It is about the constitution and not the consensus of the federal government or even the state.

That is why the whole essence of the provision of the constitution state clearly that the constitution shall be bidding on all authorities and laws. If I were the states, I will take the Federal Government to court for violation of the constitution,â&#x20AC;? he said.

For the president of the Nigeria Union of Local Government Employees, Ondo State, Comrade Bola Taiwo, the directive of the federal government is a partial autonomy for the local government system. He raised an interesting angle about local governments had nothing accruing to them from the federation account. â&#x20AC;&#x153;The only thing is that at the previous time when we experienced this type of thing, some local governments do have zero allocation and that is why the issue of Joint Account Allocation Committee (JAAC) came in. But because most of the governors were tampering with local government money that is why the people are saying that it should be scrapped. If we should scrap JAAC, they must constitute a Caretaker Committee like a Technical Committee that will look into the allocation immediately the allocation get to the state before transferring to individual local governments so that any local that does not have money enough to pay its workers, can be taken of by other councils. Another issue is that teachers salaries, should be taken into consideration. Teachers salaries must be made first charge so that there would be no problem. The issue of paying the primary school teachers must

not be exclusively for the local government. It is supposed to be a tripartite payment-the federal, the state and the local governments. The federal and state government- should contribute to the payment of primary school teachers. That must be taken into consideration. The third issue is that of sub -deduction to local government commission, pension board, local government loans board must be taken into consideration. If all these are not taken into consideration, the local government pension board will not function again, the loans board will not function, the training department of local government commission will also not function again. That is why we need this Technical Committee. The technical committee will meet immediately after FAAC, and discuss all the highlighted issues. If there is no JAAC, there must be technical committee so that most of these big local government will not have zero allocation. There must be a way of harmonising things together, if not, things will go other way,â&#x20AC;?

Taiwo stated.

There have been stringent calls for the federal government run a true federation, where the federating units would maintain autonomy on certain matters, including on finances and policing among others. But so much power has been concentrated in the centre. Financial autonomy is at the core of a federal system of government, allowing the federating units to remain financially independent from the other, while remaining interdependent.

Nigeriaâ&#x20AC;&#x2122;s current monthly revenue sharing formula states that the federal government takes the biggest share of 52.68 per cent from the federation account. The 36 states take 26.72 per cent, while the balance of 20.60 per cent is handed to the 774 local governments.

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

â&#x20AC;&#x2DC;Itâ&#x20AC;&#x2122;s a Major Step Towards True Local Government Autonomyâ&#x20AC;&#x2122; Seriki Adinoyi discusses with Jos-based lawyer, Haroun Harry Audu, the directive from the Nigerian Financial Intelligence Unit to stop the convention of remitting monies meant for local governments into a joint state and local government account Whatâ&#x20AC;&#x2122;s your opinion about this new policy of the Federal Government on local governments now getting their allocations directly from source without passing through the state governors like it has always been?

It is a necessary correction and a necessary development for our democracy most importantly because of the provision of the constitution of the Federal Republic of Nigeria as amended.

We do know that there are three tiers of government constitutionally provided; the federal, the state, and the local governments, and emphatically, the local government is a creation of the law. It is therefore expected that funds meant for the federal government goes to the federal government, while that meant for the state goes to the state, and that for the local government also goes to the local government.

In my honest opinion, there has been a constitutional anomaly where in 1999 they created the joint local government account supervised by the governors. That was a total shortchanging of the local governments in terms of funds that were supposed to go to them directly.

Even though these funds come into the local government accounts, by the extra constitutional provision that set-up joint local government account, the funds are warehoused and administered at the pleasure of the governors and their appointees.

So, what has happened by this policy, which we understand is at the instance of the National Financial Intelligence Unit, is to restore the constitutional sanity that should ordinarily apply to the local government, that is, to take their resources meant for them.

In my view, this policy is to secure the local governments from the banditry and kidnapping mentality of the state governors and their appointees at the ministries of local government and the state houses of assembly, who ordinarily should have direct constitutional oversight over these local governments, but are conniving with the governors to shortchange the local government.

Itâ&#x20AC;&#x2122;s a fantastic policy that we want to see actually coming to be. I say this because there are many of such policies in the past, but whether they have been executed to the letter is a different story all together. And we do have a history as a people of making huge pronouncements. We are long on talk and short on carrying them out.

But as a Lawyer, you know that it is not spelt out in the constitution that the funds should go directly to the local governments.

The provision of the 1999 Constitution, Section 162(6), requires each State to maintain â&#x20AC;&#x153;a special account to be called State Joint Local Government Account, into which shall be

paid all allocation to the Local Government Council...â&#x20AC;?

Despite the constitutional provision, the serial allegations of state governments meddling with local government funds and thereby undermining their financial autonomy cannot be ignored because these are facts of our existence.

In just about every state in Nigeria, there is evidence of undue access and deduction from the joint account by the state governments.

These states have misused, abused and misapplied funds from the joint accounts for all kinds of reckless purposes.

The state-local government joint allocation committee should be scrapped while funds from the federation account should be sent to the local governments directly. The new policy emanating from the Nigerian Financial Intelligence Unit (NFIU) should serve as a major step towards true local government autonomy; being a tier of government constitutionally guaranteed and secured.

The foundation is that the constitution provides for three tiers of government.

Unfortunately, one of the biggest things that have happened to us in the negative, is that in every state, the local government system has been compromised. We donâ&#x20AC;&#x2122;t even have democratically elected leaders as such at that level, which is also a constitutional provision.

State governors hijack the local government

Audu

and impose caretaker leaders or they manipulate local government elections and put client or compliant leaders at that level who will continue to support their banditry of hijacking funds. I do not agree with the argument that because the constitution does not spell it out, nothing should be done about it. In fact, the distribution of resources is actually an engineering process between the three tiers of government. What has happened is that the local government has been shut-out because we have undermined the democratic credentials of the local governments.

Do you see the Governors going to court o this?

Honestly, I donâ&#x20AC;&#x2122;t see the governors going to court on this, because they too know how wrong it has been.

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FEATURES

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

Celebrating over Five Decades of Aerial Warfare As the curtain closed on the 55th anniversary celebration of the Nigerian Air Force, Chiemelie Ezeobi reports that it was a plethora of activities including but not limited to research and development exhibition, ceremonial parade and aerial displays, which underscored how far the service has come over the years

F

or one week, the Nigerian Air Force (NAF) organised series of activities to mark its 55th anniversary. From the Research and Development (R&D) competition/exhibition to the lecture, Jumaâ&#x20AC;&#x2122;at prayers, interdenominational church service, medical outreaches in different states, visit to a special needs home, ceremonial parade, aerial display and gala night, it was a purposeful week which truly underscored how far the service has gone from inception to now.

To entire celebration was hinged on the theme â&#x20AC;&#x153;Building Capability for Defence of Nigeriaâ&#x20AC;&#x2122;s Air Space While Responding to National Security Imperativesâ&#x20AC;?, and it ended with a gala/reunion night.

History According to the information gotten from the AirForce website, the idea of establishing an air force for Nigeria was first mooted in 1961 following the nation's participation in peace-keeping operations in Congo and Tanganyika (now Tanzania). During these peace-keeping operations, foreign air forces aircraft were employed to airlift the Nigerian Army Regiment to and from the theatres of operation.

Early in 1962, the government agreed in principle that the NAF be established.

This the Nigerian Parliament, therefore, approved the establishment of the NAF and recruitment of cadets commenced in June 1962. Consequently, the NAF was officially established by a statutory Act of Parliament in April 1964 to serve four main purposes namely to achieve a full complement of the military defence system of Nigeria both in the air and on the ground, ensure a fast versatile mobility of the Armed Forces, provide close support for the ground-based and sea borne forces in all phases of operations and to ensure the territorial integrity of a united Nigeria and give the country the deserved prestige that is invaluable in international matters.

The first batch of 10 cadets was enlisted in 1962 to undergo training with the Ethiopian Air Force. The second set of 16 cadets was enlisted in February 1963 to undergo training with the Royal Canadian Air Force while six cadets were sent to the Indian Air Force.

Consequently, several countries were approached but the lot fell on the German Air Force to provide technical assistance for the local training of NAF personnel and this materialised in 1963.

While the NAF was still at its infancy as a fighting force, the laudable plans made by the German Air Force Assistance Group were prematurely put to test barely three years after its establishment. The inexperienced Air Force assumed the role of a well established Air Force in order to prosecute the Nigerian civil war in close collaboration with sister services. At this stage of its existence, the NAF was only equipped with a few aircraft.

As the war progressed, some fighter aircraft such as MIG 15 and 17 were acquired to help bring the war to a speedy end.

The Nigerian Civil War came to an end in 1970 and there was the need to re-organise the NAF and up-grade its equipment. In order to strengthen itself, the NAF between 1981 and 1990 acquired additional aircraft types of advanced technology.

Following the expansion of the NAF over time and the need to enforce all international laws and conventions relating to space activities in the Nigerian airspace, the Federal Government promulgated Decree 105 (Armed Forces Amendment Decree) of 23rd August 1994 which provided additional roles for the NAF. These additional roles include enforcing and assisting in coordinating the enforcement of international law, conventions, practices and customs ascribed and acceded to by Nigeria relating to aerial or space activities in the Nigerian airspace, coordinating and enforcing all national and international air laws acceded or ascribed to by Nigeria and de-lineating, demarcating and coordinating

The newly acquired Agusta 109 Power Helicopters which were inducted during the 55th anniversary of the Nigerian Air Force

all aerial surveys and security zones of the Nigerian airspace.

Prayers for NAF at 55 As is the norm, NAF held both services for the Muslim and Christian faithfuls. First the Chief of the Air Staff (CAS), Air Marshal Sadique Abubakar, on 26 April, joined other Muslim faithfuls for Jumaâ&#x20AC;&#x2122;at Prayers at the NAF Base Central Mosque. After that was the interdenominational device held at the Saint Anthony of Padua Catholic Church, NAF Base, Bill Clinton Drive, Abuja.

R&D Exhibition As part of the celebration, NAF held a Research and Development competition and exhibition. Held at the Eagle Square in Abuja, the NAF was commended for its efforts at harnessing the available research and development potentials, especially in the military aviation sector.

The commendation was made by the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha. While assuring of the Federal Government's continued support to the AFN, the SGF stated that it was now more important than ever before to look inward with a view to gradually weaning the Nation of overdependence on foreign technology and becoming more innovative in the use of local resources.

He lauded the great strides attained in recent times by the NAF, especially the induction of the Unmanned Aerial Vehicle nicknamed 'TSAIGUMI' as well as the efforts, in collaboration with other partners, to produce the first ever made in Nigeria aircraft at the Air Force Research and Development Center (AFRDC) in Kaduna.

The SGF specially commended the Chief of the Air Staff (CAS), Air Marshal Sadique Abubakar, for his passion for R&D, noting that there was need for the public and private sectors to hold more of such exhibitions that would promote innovation.

In his address, the CAS disclosed that

the NAF R&D Competition/Exhibition was organised to motivate innovators and research outfits to explore the possibilities of identifying areas of potential partnership with the NAF in order to strengthen Nigeria's technological base as a veritable tool for national development.

Bearing in mind the need for the NAF to be self reliant technologically, Abubakar who revealed that the service placed emphasis on R&D as a means of building indigenous technological capacity, pointed out that the NAF strategy was in line with the focus of the FG which prioritises the promotion of local content, homegrown technology and innovation as principal means of improving the nation's foreign exchange earnings.

The highlight of the R&D Competition/ Exhibition was the inspection of project stands by the SGF and other dignitaries present at the occasion. Six NAF Commands and 9 Institutions participated in the R&D Competition/Exhibition. The 6 Commands are Tactical Air Command, Special Operations Command, Mobility Command, Air Training Command, Ground Training Command and Logistics Command. Other Institutions and agencies that showcased their products were Pen Resource Robotics Centre, Gombe, Ahmadu Bello University, Zaria, Abubakar Tafawa Balewa University, Bauchi, Sheda Science and Technology, University of Maiduguri, Nigerian Army, the Nigerian Navy and the Air Force Institute of Technology, Kaduna. The Air Force Research and Development Centre as well as 041 Communications Depot, Shasha, Lagos also participated.

Anniversary Lecture In the same vein, as part of the activities marking the anniversary, a lecture was held at the NAF Officersâ&#x20AC;&#x2122; Mess and Suites, Kado, Abuja. The topic of the Lecture was â&#x20AC;&#x153;Air to Ground Integration in the Armed Forces of Nigeria: Challenges and Prospectsâ&#x20AC;?. The lecture, which was delivered by AVM

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FEATURES

The Vice President, Yemi Osinbajo ďŹ&#x201A;anked by the Minister of Defence, Mansur Dan-Ali (far left); CAS, Air Marshal Sadique Abubakar (far right) and other service chiefs at the induction

Christian Chukwu (retired), pooled the intellectual minds of experienced serving and retired senior officers from the Armed Forces, other security agencies and members of diplomatic corps to discuss ways of improving synergy between air and surface forces for more effective and efficient operations.

Medical Outreaches As part of its desire to touch the lives of its host communities, NAF took its medical outreaches to Abuja, Lagos, Benue, Kaduna, Enugu, Bauchi, and Bayelsa States. The outreach was conducted in continuation of efforts by the NAF to enhance civil-military relations with its host communities across the country.

In Abuja, the Basa community was treated to a one-day medical outreach, which catered for the medical needs of close to 4,000 persons, including women, children and the aged. Medical services provided during the outreach include medical consultations, counseling and screening as well as dental care, eye treatment and deworming of children. In addition, free prescription eye glasses and medications were distributed, as well as insecticide treated mosquito nets given to over 500 families.

Also, two other NAF Commands conducted medical outreaches in communities within their Areas of Responsibility (AORs). The Logistics Command (LC), with its headquarters in Lagos, conducted a medical outreach for residents of Lagos Island Community, Iya-Iduganran Isale Eko, Lagos State, while the Tactical Air Command (TAC) in Makurdi conducted an outreach for the Basu Angbaye community in Makurdi, Benue State.

The LC outreach, which catered to the medical needs of close to 300 persons was done by the Air Officer Commanding (AOC) LC Air Vice Marshal (AVM) OA Olabisi, while the TAC outreach, which held at

the NKST Church Field in Basu Angbaye community in Makurdi for over 2000 people, was flagged-off by the representative of the AOC TAC, the Commander 161 NAF Hospital Makurdi, Air Commodore Okey Ezeanyagu.

In Sokoto, the Madorawa community to be precise, the 119 Composite Group conducted a medical outreach at Madorawa Community in Bodinga LGA for 500 families.

In Enugu and Bauchi States, over 4,000 persons benefited from the two-day medical outreaches carried out by the NAF at Gwallaga Community in Bauchi State and Ogbeke/Ukuruta Community in Agbani, Enugu State.

Golf Kitty Also as part of activities marking the anniversary, NAF held a Golf Kitty at the Goodluck Ebele Jonathan Golf Course in Abuja. The categorised Golf Kitty saw a total of 70 entries, cutting across golfers from the NAF and different Golf Clubs in Abuja.

The CAS), represented by the Chief of Policy and Plans Headquarters NAF, Air Vice Marshal (AVM) Emmanuel Anebi, who performed the tee-off to flag-off the competition, restated the commitment of his administration towards promoting sporting activities that would not only enhance physical fitness of personnel but also engender civil-military cooperation.

The highlight of the event was the presentation of prizes to golfers who had excelled in the various categories of the Kitty.

Air Commodore David Solomon won the Best Net Officer Category 1 while Flight Lieutenant Juliet Mimgba won the Best Net Lady Officer. Also, AVM Sunday Leks (retired) won the prize for the Best Net in the Veteransâ&#x20AC;&#x2122; Category and AVM Ajibola Jekenu (retired) won the Best Net in the Retired Officersâ&#x20AC;&#x2122; Category, while Master Warrant Officer Abdullahi Suleiman won

NAFOWA National President, Hajiya Hafsat Abubakar; CAS, Air Marshal Sadique Abubakar; the SGF, Boss Mustapha and others at the R&D exhibition and competition project stands

Medical outreach carried out by the service to mark its 55th anniversary

NAFOWA National President, Hajiya Hafsat Abubakar, during a visit to a special needs home in Abuja

26

T H I S D AY ˾ MONDAY MAY 13, 2019

27

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

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T M A Y 1 0 ,

REPO 10 % 9.14%

CALL 1-MONTH 3-MONTH

8.50% 10.63 % 11.75%

S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

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

2 0 1 9 387.93% 0.04% 0.32%

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

0.35% 8.67%

EXCHANGE RATE N307/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes CAC Extends Business Registration Deadline

WOOING INVESTORS

L-R: CEO, Central Securities Clearing System Plc (CSCS), Haruna Jalo Waziri; CEO, FMDQ OTC Securities Exchange, Bola Onadele; CEO, Protiquette Consults, Kemi Adewole; CBN Governor, Mr. Godwin Emefiele, and CEO, Rand Merchant Bank Nigeria/Regional HeadWest Africa, Michael Larbie, at the 2019 Association of Assets Custodians of Nigeria conference held in London...recently

SECMovestoBanCompaniesfrom DistributingGiftsatMeetings Goddy Egene The Securities and Exchange Commission (SEC) is making move to stop listed companies from distributing gift items at annual general meetings (AGMs).

The capital market regulator is also ensuring that quoted companies do not convene any meeting with select group(s) of shareholders prior to an AGMs or an extra-ordinary general meetings(EGMs).

These move by SEC were contained in an exposure draft of sundry amendments to SECâ&#x20AC;&#x2122;s Rules and Regulations, exposed to the market last Friday.

Justifying the proposed rule,

CAPITAL MARKET the commission said public companies spend a significant amount of money on corporate gifts at AGMs/EGMs and this has a great impact on their profitability. â&#x20AC;&#x153;Few of the companies are making reasonable profits and even fewer can afford to pay dividends. If the amount budgeted for gifts at AGMs/EGMs can be reserved for other relevant operational or administrative expenses, it would positively impact on their earnings per share,â&#x20AC;? it explained.

Explaining further, SEC said: â&#x20AC;&#x153;It has been observed that some companies arrange meetings with

select groups of shareholders ahead of general meetings to discuss proposed resolutions and agree on strategies which are often detrimental to the interest of other shareholders.â&#x20AC;?

Specifically, the proposed rules provide that, â&#x20AC;&#x153;public companies shall not distribute gifts to shareholders, observers and any other persons at AGMs/ EGMs. Public companies shall not convene any meeting with select group(s) of shareholders prior to an AGMs/EGMs.â&#x20AC;?

SEC stated that any company that violates the provisions of (4) and (5) above shall be liable to a penalty of not less than N10 million.

In another proposed new rule,

SEC is moving to reinstate the individual sub-broker function to the market.

Individual sub-broker function was removed in November 2017.

However, SEC said the deletion of that rule generated a lot of comments from the Nigerian Stock Exchange (NSE) and Association of Stock Broking Houses (ASHON), who thereafter requested for the reinstatement of the function. â&#x20AC;&#x153;The Rules Committee revisited the issue and the commission agrees that reinstatement of Individual Sub â&#x20AC;&#x201C; broker function will help in enhancing financial inclusion, deepening Continued on page 28

Firm Highlights Investment Opportunities in Nigeria Obinna Chima FSDH Merchant Bank Limited has urged Nigerians and foreign investors to take advantage of the numerous investment outlets in the countryâ&#x20AC;&#x2122;s financial market.

The bank stated this in a report titled: Investment Opportunities in the Nigerian Financial Market,â&#x20AC;? obtained at the weekend.

FSDH, however pointed out that despite the growth in the savings and investment products in Nigeria, the country still records low savings and investments The ratio of Gross National Savings to the Gross Domestic Products (GDP) in Nigeria is one of the lowest among some selected countries including Nigeria, Kenya, South Afica, India, Malaysia, China, United Kingdom, and USA. In addition, it noted that despite the impressive growth

ECONOMY in mutual fund in Nigeria in the last five years, the ratio of mutual fund assets to the GDP estimated at 0.5 per cent as at December 2018 was still very low.

Shedding more light on the report, the Head of Research at FSDH Merchant Bank, Ayodele Akinwunmi, pointed out, the above numbers show that there are lots of growth opportunities for saving and investment in Nigeria.

According to him, low savings in the financial system means low amount of money would be available for lending purposes and the available funds would command high interest rate.

Furthermore, he pointed out that low savings and investment also limit the ability of a country to create wealth and lift its people

from poverty It also means that government at all levels would have limited access to raise tax revenue to embark on development purposes while corporates would have limited access to capital to expand their businesses, he said.

Akinwunmi listed some of the identified reasons for low savings and investment in Nigeria to include high unemployment, weak purchasing power and inadequate knowledge of investment products that are available and how they work for the benefit of investors.

The investment products were listed to include the Federal Government of Nigeria Bond (FGN Bond), FGN Savings Bond (FGNSB), Nigerian Treasury Bills (NTBs), Commercial Papers (CPs), Mutual Funds, Real Estate Investment Trusts and Stocks For the FGN Bonds, the

government uses the investment instrument to borrow money from the investing public and pay interest (coupon) to the investors (usually referred to as the bond holders).

Usually the FGN pays interest twice in a year to the Bond holders throughout the life (tenor) of the Bond and pays the principal at maturity. The tenor of the FGN Bond ranges from 3 â&#x20AC;&#x201C; 30 years and the bond is issued monthly with a minimum investment sum of N50,001,000. The Bond can be used as a collateral to obtain loan from any financial institution in Nigeria and the income from it is free from tax.

On the other hand, the FGNSB targets retail investors and those who do not have the required minimum investment sum to invest in the FGN Bonds.

Continued on page 28

The acting Registrar-General of the Corporate AďŹ&#x20AC;airs Commission (CAC), Azuka Azinge has announced further extension of the window for registration of business names at the reduced cost of N5,000.00 by 90 days.She told journalists over the weekend that the decision was taken to give opportunity to micro, small and medium scale enterprises (MSMEs) that could not register their businesses in the ďŹ rst and second phase of the Business Incentive Strategy (BIS).

The commission under the BIS initiative, had reduced the cost of business names registration from N10,000 to N5,000 for a period of three months (October to December 2018).

The CAC boss said upon expiration of the initial three months, the commission received several requests from stakeholders and members of the public, which led to the extension for another period of three months (1st January to 31st March 2019).

She said the third extension was expected to deepen the success achieved in the ďŹ rst and second phases and would run between May and August.She enjoined members of the public to take advantage of the latest extension to register their business names at the reduced cost of N5,000.

Azinge, further disclosed that the Companies and Allied Matters Amendment Bill had since been passed by the National Assembly and was awaiting presidential assent.

She said the amendment was aimed at enhancing the Commissionâ&#x20AC;&#x2122;s supervisory and regulatory powers.

SpeciďŹ cally, the amendment seeks to ease starting and growing businesses in Nigeria; ensure more appropriate regulation for MSMEs; enhance transparency and shareholder engagement and align regulatory framework with international best practice as well as make Nigeria an investment destination of choice.

Dana Air Supports Cancer Patient

DanaAirhasjoinedthecallfordonorsofstemcellforapatientdiagnosed with cancer of the blood. Astrid, 41, a Nigerian- German mother, is in need of a stem cell transplant to survive a disease she was diagnosed with in September 2018, after visiting the doctor for sore throat.

Speaking on Dana Airâ&#x20AC;&#x2122;s call for donors, the Media and Communications Manager of Dana Air, Kingsley Ezenwa said â&#x20AC;&#x2DC;â&#x20AC;&#x2122;Project PINK BLUE, a cancer ďŹ ghting non-governmental organisation that we have been supporting for years now in partnership with Bone Marrow Registry Nigeria (BMRN) andThe Sun Flower Fund is organising donor drive events across Nigeria and we are calling on Nigerians to help save Astrid by registering and signing up as donors. â&#x20AC;&#x2DC;â&#x20AC;&#x2122;To stay alive, Astrid needs a matching stem cell donor and anyone who is healthy and between the 18-45 years old can help by registering as a potential stem donor by attending the donor drive taking place at: GIZ OďŹ&#x192;ce, 592 Idejo Street, Beside Development Bank, Victoria Island, Lagos. 11am-5pm, or visit www.help-astrid.com. â&#x20AC;&#x153;The registration takes only a few minutes and doesnâ&#x20AC;&#x2122;t hurt or involve any cost implication,â&#x20AC;&#x2122;â&#x20AC;&#x2122; Ezenwa said.

According to the airline, the search for her genetic twin is very diďŹ&#x192;cult.

The chance of ďŹ nding this match is 1:100 000 and the best chance of a match is within oneâ&#x20AC;&#x2122;s ethnic background.

EY Hosts Audit Committee Members

The Ernst &Young Nigeria (EY), is set to engage banksâ&#x20AC;&#x2122; audit committee members. The forum is part of eďŹ&#x20AC;orts to brainstorm on governance related issues, bringing into perspective, the evolving demands of business, regulators and investors alike.

The forum with the theme, â&#x20AC;&#x2DC;Innovating the Audit to drive quality and Valueâ&#x20AC;&#x2122;, would provide a unique opportunity for experts in ďŹ nancial sector to unpack the many issues around the code of corporate governance and the role of the audit committee.The event holds on May 15, 2019, in Lagos.

According to Head, Financial Services, EY West Africa, Anthony Oputa, the audit committee parley was put together to deliberate on the alignment of audit committee agenda with banksâ&#x20AC;&#x2122; priority areas, present compliance matters as well as new reporting standards, among other pressing issues bordering on audit.

Other areas of interest to focus on include, the cyber breach response, digital transformation as well as Audit Committee oversight of ďŹ nancial reporting and eďŹ&#x20AC;ectiveness.

â&#x20AC;&#x153;In this sector, one area of difference between our privatisation model and what I know of the European models is that the assets were privatised as on-going and functional undertakings requiring only private sector managerial models to optimise commercial value. In our case the assets sold were not viable on-going concerns, they were in many cases ageing, de-rated and the service was disappointingâ&#x20AC;?

Minister of Power, Works and Housing,

Mr. Babatunde Fashola

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

28

BUSINESSWORLD SEC MOVES TO BAN COMPANIES FROM DISTRIBUTING GIFTS AT MEETINGS

the market, and attracting more retail investors as well as enable the Sub â&#x20AC;&#x201C; brokers have more presence at the grass root level,â&#x20AC;?

SEC explained.

According to the commission, an application for registration as an individual sub-broker shall be filed on Form SEC 2 as provided in schedule III of these rules and regulations and shall be accompanied by certified copy of certificate of registration of business name (where applicable);evidence of minimum net worth of N500,000;sworn undertaking to comply with the provisions of the Act and the rules and regulations as may be required from time to time by the Commission; evidence of compliance with rule 20(4) and sworn undertaking to keep proper records and render returns.

FIRM HIGHLIGHTS SAVING, INVESTMENT OPPORTUNITIES IN NIGERIA The minimum amount to invest in FGNSB is N5,000 and the maximum is N50million.

FGNSB is of two tenors - two and three years. It is issued for five days starting from the first Monday of every month.

Government pays interest on the bond every three month and it is traded on the floors of The Nigerian Stock Exchange (NSE). The Bond can be used as a collateral to obtain loan from any financial institution in Nigeria and the income from it is free from tax.

Similarly, through the NTBs, the federal government borrows money from the public on a short-term basis (within one year).

NTBs are issued at a discount to the face value. This means that investors pay an amount that is lower than the face value and while the government will pay the investors the full face value at maturity. NTB in Nigeria has three tenors which are 91, 182 and 364 days and is issued twice a month. NTBs can be used as a collateral to obtain loan from any financial institution in Nigeria and the income from it is free from tax.

Group Business Editor

Obinna Chima

Enelamah: FG, States Working to Address MultipleTaxation James Emejo in Abuja The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, has said the federal government is currently working through the National Economic Council in collaboration with state governments to streamline the multiple taxes paid by businesses particularly the small and medium enterprises (SMEs).

He also said the implementation of the Export Expansion Grant (EEG) had resumed since 2018, after the programme was suspended at the inception of the current administration adding that the scheme had now been streamlined to avoid abuse and irregularities which marred it in the past.

Addressing journalists over the weekend about the strides made by ministry in transforming the business environment in the past four years, the minister also said efforts were ongoing to make the Kano and Calabar Free Trade Zone operational.

He said though the Kano free trade zone had been underutilised, the ministry has, â&#x20AC;&#x153;taken several steps to make it better and the result will soon start showing.â&#x20AC;?

He added: â&#x20AC;&#x153;One is to upgrade the infrastructure because it has dilapidated and that upgrade has been going on for the last two years. â&#x20AC;&#x153;We have reached an agreement that we are basically going to work with private operators both for Kano and Calabar and we are going through a process involving working with the Bureau of Public Enterprises to identify

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)

the right operators to partner with us to commercialise and provide the services including marketing services to bring in those who want to operate. â&#x20AC;&#x153;We are showcasing these zones to investors who are coming in. The efforts of this government and ministry will bear long range enduring results because I know we are now solving the problems fundamentally and you will agree with me this is the right way to solving the problem.â&#x20AC;?

The minister said the ministry had improved the operational environment for businesses

in the country and supported the growth of SMEs as well as contributed significantly in the attraction of more foreign investment into the country in the last four years. He said while the removal of bottlenecks had enhanced a reduction of challenges encountered by SMEs and other businesses in areas such as starting a business; access to credit; paying taxes; enforcing contracts or trading within and across borders among others, investor interest in the country had also increased.

He, reiterated his promise on

resumption of duty that the vision for the ministry would be for it to be seen as a ministry of enabling environment.

To this end, he said through the Presidential Enabling Business Environment Council (PEBEC), the Ministry had made remarkable achievements, which included the jump in the World Bankâ&#x20AC;&#x2122;s ranking on the Ease of Doing Business; and the removal of several bottlenecks in government processes.

He added that efforts were ongoing to further improve on the achievements towards ensuring a

more business-friendly environment and to achieve a sub-100 ranking of the World Bank on Ease of Doing Business.

He added that the ministry had aggressively been implementing the Nigeria Industrial Revolution Plan and the establishment of the Nigeria Industrial Policy and Competitiveness Advisory Council is yielding results.

He noted that the council had made many high-level interventions to address industrial sector issues such as electricity supply, broadband penetration and access roads.

FOSTERING BUSINESS RELATIONSHIP

L-R: Chief Uche Otiora; Chief Hilary Amande; Chief C.Y Onyekaokwu all of Balogun Business Association (BBA), welcoming the Chief Executive Officer/Managing Director, Fidelity Bank Plc, Mr. Nnamdi Okonkwo, to the annual BBA Market Rally held at the market complex in Lagos Stateâ&#x20AC;Ś recently

NESG Set to Unveil â&#x20AC;&#x2DC;Better Taxâ&#x20AC;&#x2122; Initiative Obinna Chima The Nigeria Economic Summit Group (NESG) is set to unveil the findings of its nationwide survey on tax perception and drive government-citizen engagement for sustainable fiscal reforms through the launch of its Better Tax initiative.

Better Tax, scheduled for launch in Lagos this Wednesday, is a product of the NESGâ&#x20AC;&#x2122;s Fiscal Policy Roundtableâ&#x20AC;&#x2122;s commitment to building a globally competitive Nigerian economy through fiscal consolidation that impacts the citizenry and drives holistic national development.

According to the Chairman, NESG Fiscal Policy Roundtable, Dr. Sarah Alade, â&#x20AC;&#x153;Project Better Tax is distinct from previous tax reform initiatives because it adopts a multi-pronged approach to easing the tax burden. â&#x20AC;&#x153;The project leverages the findings of nationwide surveys to cascade information on Nigeriaâ&#x20AC;&#x2122;s current fiscal position in a concise manner designed to educate stakeholders on the role of taxation, and the dual responsibility of citizens and the government to actualise the social contract envisaged through strict tax compliance

and fiscal responsibility as obtains in developed economies.â&#x20AC;?

The initiative seeks to create a platform for discourse between government and the citizenry that would reshape tax perception. It is expected to transform tax from being perceived as a burden to a tool for socio-economic development.

Experts have long advocated a refocus on the non-oil sector of the Nigerian economy following the 2014 crash in global oil prices.

Reinforcing this argument, Federal Inland Revenue Service (FIRS) Chairman Babatunde Fowler, had disclosed that

the non-oil sector outpaced the oil sector with a 54 per cent contribution to the N5.32 trillion revenue generated in 2018.

Aligned with this development, government has set a policy priority to significantly boost the share of non-oil revenue by 2020.

But the NESG/BMGE Advocacy and Communications Consultants, Izin Akioya, noted that Nigeriaâ&#x20AC;&#x2122;s low tax compliance levels thwart the realisation of the revenue mobilisation objective.

In 2018, FIRS disclosed that about 6,772 billionaire businesses in Nigeria do not pay

tax, adding that this category of organisations have between N1billion and N5 billion turnover in their accounts, but had no Tax Identification Number (TIN). â&#x20AC;&#x153;A whopping 57 million Nigerians are economically active, but the vast majority are not registered to pay Personal Income Tax. â&#x20AC;&#x153;Better Tax sets a radically different tax reform agenda for Nigeria that is impactful and proffers evidence-based solutions to address the twinproblem of low tax morale and compliance that Nigeria continues to grapple with.

FG Inaugurates Mobile Data Working Group Emma Okonji

Capital Market Editor

Goddy Egene

NEWS

The Permanent Secretary, Federal Ministry of Communications, Mr. Musa Istifanus has inaugurated the National Technical Working Group on Mobile Big Data Analytics.

The inauguration was in line with the National Council on Communications Technology 2017 approval for the development and use of mobile position data for statistics and decision-making by the public and private sector.

Istifanus, who performed the inauguration on behalf of the

federal government at the federal secretariat in Abuja recently, pointed out that the National Mobile Big Data Analytics program would promote innovation and modernisation of national statistical systems, promote the use of data and analytics by government agencies and increase opportunities for a new data science service and jobs for Nigeria youth.

According to him, â&#x20AC;&#x153;The data deluge resulting in human activities, Internet of Things (IoT) can be transformed into actionable data that is capable of improving the quality of lives

and conditions of society as a whole.â&#x20AC;?

Istifanus, said there were other data sources such as scanner data, social media data, and satellite imagery that were proven to have a high capacity to enhance the quality of decision making across many sectors to further enhance social and economic indicators as well as accelerate the attainment of Economic Growth and Recovery Plan (EGRP) and Sustainable Development Goals of the United Nations.

The Permanent Secretary stated that federal govern-

ment would continue to work through the Ministry of Communications to exploit new opportunities from big data by identifying new data sources available in the Nigeria environment and validating new methods for their use by statistical organisations and other stakeholders.

In his presentation, the Programme Consultant, Mr. Bernard Ewah stated that the essence of the mobile big data analytics was to build a data economy.

He added that mobile big data analytics would be

achieved by using Keoun Data Processing Technology to produce new statistics for the government and other agencies.

According to him, the National Working Group had been sub-grouped into four namely: Policy and Regulations; Capacity Building and Sensitisation; Data Applicability Infrastructure; and Commercial Models.

Ewah, said Abuja would be used for the pilot phase, noting that Nigeria, with a very high population, needs to generate data to boost efficiency and development.

29

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

Equities Market Sheds N136bn as Bearish Trading Persists Goddy Egene TThe equities market dipped by N136 billion last week following persistent bearish trading.

Having declined by 1.7 per cent the previous week, sell pressures in market bellwethers led to a further decline, making the Nigerian Stock Exchange (NSE) All-Share Index to close lower by 1.25 per cent at 28,847.81, while market capitalisation shed N136 billion to be at N10.842 trillion.

However, the continued negative sentiments has driven down the prices of most stocks to their oneyear low, while the year-to-date decline of the market worsened to 8.2 per cent.

The bearish market in the five trading days, opened with a decline of 0.05 per cent on Monday. Sell pressures on Dangote Cement Plc, Zenith Bank Plc, Access Bank Plc and GTBank Plc drove the index 104 per cent lower on Tuesday, Wednesday and Thursday. Decline in share prices of Seplat United Bank for Africa Plc pushed the loss on Friday, leading the market to close the week a total decline of 1.25 per cent.

A further analysis of the market performance for the week, showed the five major sectoral indicators tracked, declined led by the NSE Oil & Gas Index with a loss of 5.3 per cent.

The NSE Banking Index followed with a decline of 2.8 per cent, while the NSE Insurance Plc shed 1.7 per cent. The NSE Industrial Goods Index went down by 0.8 per cent, just as the NSE Consumer Goods Index closed 0.2 per cent lower.

Apart from Nigerian market, three others in Africa traded bearishly in the week under review. In fact, the Egypt EGX30 led decliners, recording a depreciation of 5.5 per cent, while Kenya NSE 20 and Ghanaâ&#x20AC;&#x2122;s GSE Composite shed 0.6 per cent and 0.3 per cent respectively.

On the positive side, Moroccoâ&#x20AC;&#x2122;s Casablanca MASI led gainers, with a gain of 0.7 per cent, following the collaboration between Morocco and Spain to promote a common migration policy within the framework of the European Union (EU). The Mauritius SEMDEX index trailed with a gain of 0.1 per cent.

Across the BRICS market, performance was equally bearish as all the markets closed in the red.

The China Shanghai Composite suffered the highest decline of 4.5 per cent due to new tariffs on Chinese exports to the United States.

Similarly, South Africaâ&#x20AC;&#x2122;s FTSE/JSE All Share fell 4.1 per cent, just as Indiaâ&#x20AC;&#x2122;s BSE Sens Index lost 3.9 per cent. The Russia RTS and Brazil Ibovespa went down by 2.8 per cent and 2.4 per cent respectively.

A look at the markets in Asia and the Middle East, indicates that all of them posted gains. The Turkeyâ&#x20AC;&#x2122;s BIST 100 recorded the highest gain of 6.2 per cent, followed by Saudi Arabiaâ&#x20AC;&#x2122;s Tadawul ASI that gained 5.4 per cent.

Qatarâ&#x20AC;&#x2122;s DSM 20 index appreciated 4.5 per cent just as the UAEâ&#x20AC;&#x2122;s ADX General Index gained 3.8 per cent.

Thailandâ&#x20AC;&#x2122;s SET Index went up 2.0 per cent.

The heightened trade tensions between U.S and China affected the performance of developed markets, which led to a bearish across board. Despite ongoing trade talks since December 2018, the U.S. imposed trade tariffs on $200 billion worth of Chinese goods. The tariffs on more than

Based on the latest development, the S&P 500 and the NASDAQ shed 3.5 per cent and 4.1 per cent respectively. Similarly, the UK FTSE fell 2.2 per cent. Franceâ&#x20AC;&#x2122;s CAC 40 shed 4.0 per cent, just as Germanyâ&#x20AC;&#x2122;s XETRA DAX closed 3.0 per cent lower. Hong Kongâ&#x20AC;&#x2122;s Hang Seng and Japanâ&#x20AC;&#x2122;s Nikkei 225 shed 5.1 per cent and 4.1 per cent in that order.

Market turnover In terms of trading volume and value, the market recorded a total turnover of 1.477 billion shares worth N10.876 billion exchanged in 20,740 deals last week, compared to 1.470 billion shares valued at N15.498 billion that exchanged hands the previous week in 18,092 deals.

But the Financial Services Industry led the activity chart with 919.604 million shares valued at N7.544 billion traded in 11,975 deals, thereby contributing 62.3 per cent and 69.4 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 204.019 million shares worth N58.786 million in 570 deals, while the third place was Oil and Gas Industry with a turnover of 154.554 million shares worth N251.781 million in 1,735 deals.

Trading in the top three equities namely: Access Bank Nigeria Plc, Courtville Business Solutions Plc and United Bank for Africa Plc (measured by volume) accounted for 503.716 million shares worth N2.338 billion in 2,754 deals.

A total of 97,154 units of Exchange Traded Products (ETPs) valued at N1.318 million executed in two deals compared with a total of 1.190 million units valued at N10.967 million transacted the preceding week in 12 deals.

Also, a total of 265 units of Federal Government Bonds valued at N281,654.91 were traded last week in five deals compared with a total of 14,589 units valued at N15.164 million transacted the previous week in 12 deals.

5,700 goods were increased from 10 per cent to 25 per cent.

According to analysts at Afrinvest (West Africa), this is an attempt by the U.S to extract further trade concessions from China, suggesting that the possibility of a breakthrough

is unlikely in the near-term. â&#x20AC;&#x153;Unsurprisingly, China has announced intentions to retaliate.

We note that the breakdown in trade talks means that the uncertainty created by the trade war would persist, with implications

for global growth and financial market performance. Hence, we expect monetary conditions to remain accommodative in advanced economies, supporting continuous capital inflows into emerging and frontier economies,â&#x20AC;? Afrinvest said.

Price gainers and losers Meanwhile, only 18 equities appreciated in price during the week, lower than 32 in the previous week, while 49 equities depreciated in price, higher than 44 equities of the previous week. Beta Glass Plc led the price gainers with 23.1 per cent, trailed by Courteville Business Solutions Plc with 13.6 per cent.

NEM Insurance Plc garnered 13.1 per cent while Regency Assurance Plc appreciated by 8.7 per cent.

Sovereign Trust Insurance Plc and Stanbic IBTC Holdings Plc 8.7 per cent and 5.7 per cent respectively.

Other top price gainers include: WAPIC Insurance Plc (5.4 per cent); Royal Exchange Plc (4.3 per cent); Ecobank Transnational Incorporated Plc and Guinness Nigeria Plc (apiece).

Conversely, Goldlink Insurance Plc led the price losers with 36.1 per cent followed by Japaul Oil & Maritime Services Plc with 33.3 per cent. Neimeth International Pharmaceuticals Plc followed with a decline of 25.3 per cent. Caverton Offshore Support Group Plc and Ikeja Hotel Plc shed 18 per cent and 17.1 per cent. Julius Berger Nigeria Plc and A.G Leventis Nigeria Plc went down by 14.6 per cent and 14.2 per cent respectively.

Other top price losers are: Linkage Assurance Plc (13.7 per cent); African Prudential Plc (11.5 per cent); and Chams Plc (11.1 per cent).

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Ending Naira Mutilation, Counterfeiting Obinna Chima writes on new measures against mutilated and counterfeit currencies in the country From Lagos to Kano, Anambra, Rivers States, the Federal Capital Territory and cities across the country, Nigerians have continued to lament the challenges posed by dirty, mutilated and counterfeited currencies.

Apart from the clear health risk dirty notes pose to the people who use them, the countryâ&#x20AC;&#x2122;s pride is greatly undermined in the eyes of the world when mutilated and counterfeited naira are used in the purchase of goods and services.

Studies have also shown that dirty money poses serious health hazard to those who handle it as trillions of such currencies in circulation are full of disgusting germs.

For instance, a study in the Journal of the American Medical Association studied bacteria from coins and notes had found potentially harmful germs like fecal bacteria, E. coli and Staphylococcus aureus on 13 per cent of coins and 42 percent of notes. A separate study by an Irish researcher at the Cork Institute of Technology (CIT), Emma Gabriel, that also tested banknotes for Staphylococcus Bacteria showed that 97 per cent of the sample notes tested positive for the presence of potentially dangerous bacteria on their surface. This may be even higher with the dirty and awful smell from most dirty naira notes. The five notes which tested negative were in mint condition, and the older the currency was, the more contaminated it was. The coins were less contaminated because they are made from bacteria-static metals, the study revealed.

Furthermore, the study showed that dirty money could specifically pose a risk to immunosuppressed people ââ&#x201A;Źâ&#x20AC;? people whose defence against bacteria are already low.

According to Wiki, as currency changes hands constantly, one never knows where the money in oneâ&#x20AC;&#x2122;s possession had been, particularly banknotes, which has the tendency to build up grime and may be loaded with bacteria.

Worried by this development, the Central Bank of Nigeria (CBN) recently vowed to impose stiff sanctions on commercial banks and individuals that dispense mutilated and counterfeit currencies.

The central bank also called for an increase in private companies participating in the currency management value chain to enhance its clean note policy. The CBN Governor, Mr. Godwin Emefiele, said this during the unveiling of the Bankâ&#x20AC;&#x2122;s Clean Notes Policy and Banknotes Fitness Guidelines in Lagos. 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&#x20AC;&#x2122; Committee initiative. â&#x20AC;&#x153;The 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&#x20AC;&#x153;The 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&#x20AC;&#x153;The 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&#x20AC;? a statement from the CBN explained.

Going Tough Emefiele revealed that CBN branch controllers across the country have been empowered to

work with security agencies in their respective states to ensure that cases of currency mutilation are addressed.

He noted that bank notes remain important for payments and settlement of commercial transactions in Nigeria, saying the central bank takes the state of the nationâ&#x20AC;&#x2122;s currency very important.

Emefiele added: â&#x20AC;&#x153;It is worth noting that the bank has the responsibility for preserving the integrity of the naira and sustaining public confidence in the national currency as enshrined in Section 2 of the CBN Act 2007. â&#x20AC;&#x153;To attain these objectives, the bank strives to ensure an optimal supply of clean and quality banknotes in a balanced denominational mix to meet public demand, while also maintaining a balanced currency structure that is both efficient and cost effective. â&#x20AC;&#x153;The responsibility for clean notes in circulation is not exclusively that of the central bank, rather a collaborative effort between the central bank, banknote suppliers, deposit money banks, manufacturers of currency management equipment, currency transportation and processing companies, security agencies, and

The responsibility for clean notes in circulation is not exclusively that of the central bank, rather a collaborative effort between the central bank, banknote suppliers, deposit money banks, manufacturers of currency management equipment, currency transportation and processing companies, security agencies, and the general public

the general public. â&#x20AC;&#x153;I commend the existing collaboration between the CBN and the stakeholders in the currency management value chain, and wish to stress that this should be deepened and strengthened for the overall good of the industry. â&#x20AC;&#x153;Currency management is vital to our daily lives because despite the improvements in electronic payments system, banknotes remain predominant for payment and settlement of commercial transactions in Nigeria.â&#x20AC;?

Cash-in-Transit/Cash Processing Companies Speaking further, Emefiele said the central bank had registered eight companies to carry out cash-in-transit and two cash processing companies to operate in Nigeria.

He urged commercial banks to patronise only these registered companies for CIT and sorting services. â&#x20AC;&#x153;It is expected, therefore, that more private sector participation in the currency management value chain would further strengthen the efforts toward ensuring availability of clean banknotes,â&#x20AC;? he added.

In addition, Emefiele revealed that the apex bank intends to embark on a project that would enable it mop-up mutilated banknotes from circulation.

He also said the central bank would continue to embark on sustainable institutional reforms and enact policies that would promote efficient currency management in Nigeria.

He said: â&#x20AC;&#x153;I will like to seize this opportunity to urge Nigerians to handle the naira properly, as it is a criminal offence to abuse the naira.

Moreover, the naira is our identity as a country, so we need to respect it. â&#x20AC;&#x153;I wish to bring to your attention that after this unveiling event, the bank would monitor and sanction any commercial bank/financial institution that contravenes the provisions of the two policy documents.â&#x20AC;?

On his part, the Deputy Governor (Operations), CBN, Mr. Folashodun Shonubi, said: â&#x20AC;&#x153;When people go around, they look at your currency and that represents the nation. And half the time we show them currency notes that are less than fit, it must tell on us in some shape and manner. â&#x20AC;&#x153;The whole industry not just the central bank has committed to changing that image.

â&#x20AC;&#x153;The document unveiled today explains how it would be done; what everybodyâ&#x20AC;&#x2122;s role and responsibilities are and how we can make it a reality. â&#x20AC;&#x153;From the banks who actually handle the notes to ensure the notes they have are always fit for purpose. We also feel it would affect commerce because people would be more inclined to spend when they have new notes in their hands and merchants more willing to accept. â&#x20AC;&#x153;So, we believe it would definitely help the economy and how money moves around.â&#x20AC;?

In her presentation, the Director, Currency Operations, CBN, Mrs. Priscillia Ejeme, said despite the huge volume of CIC and its attendant challenges, the CBN remained committed to ensuring that the nation has fit notes in circulation.

Also alluding to the incentives for banks to bring in bad notes, she said: â&#x20AC;&#x153;We would give a timeframe by which banks would need to bring all mutilated bank notes to us for replacements and we would do it in a way that they would be encouraged to bring them forward.â&#x20AC;?

She also added that ATMs are expected to have only mint and close to mints dispensed, which the guideline stipulates as Level 1 and Level 2.

She also urged banks to sort increase sorting of mutilated notes to the CBN to retrieve the cleaner notes.

On sanctions she also said: â&#x20AC;&#x153;There would a penalty for counterfeits from ATMs and it is currently N1 million for counterfeits detected via ATMs or across the counters.â&#x20AC;?

On his part, the Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, said: â&#x20AC;&#x153;The clean note policy document provides the uniform standard of only clean and fit bank notes in Nigeria.â&#x20AC;?

However, despite efforts by the central bank, there is need for financial institutions to continue to create incentives for customers that adopt alternative banking channels, so as to reduce the dependency on cash. Digital financial services create employment opportunities, enhances commerce and supports microfinance. In fact, the potential of digital financial services are enormous if well exploited.

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

32

Akabueze: FGâ&#x20AC;&#x2122;s Budget Performance Not Low The Director General, Budget Office of the Federation, Mr. Ben Akabueze, in this interview on Arise Television, speaks on issues around the federal governmentâ&#x20AC;&#x2122;s annual budget, especially the 2019 budget that was recently passed by the National Assembly.

Nume Ekeghe presents excerpts: What is the guarantee that this 2019 budget will be implemented faithfully?

Well, every budget is designed with a view to achieving its full implementation, or as close to full implementation as possible. Well as you know a budget represents an estimate, albeit a well-informed one. And there are two sides to the budget -you have the revenue side, and you have the expenditure side. And what happens on the expenditure side critically extends to what happens on the revenue side. When the projected revenue doesnâ&#x20AC;&#x2122;t materialise, it becomes very impossible for the expenditure side to be fully realised especially, in a situation where we are already running a deficit budget. Which means that ab-initio it is understood that, the revenue will not suffice and therefore there is a plan to borrow to augment the revenues. So, when the budget is passed by the National Assembly, which makes it a law, it poses a ceiling on how much you can borrow to fund that budget. Therefore, if it turns out that your revenue projections are fully met, and you borrow up till the limit that has been approved for you; there is no reason therefore why the expenditure side cannot be met.

But then, even on the expenditure side, you have boldly speaking, recurrent expenditure, and capital expenditure. There is also a category of expenditure called statutory expenditure, which takes care of statutory transfers to other arms of the government - the legislature and the judiciary.

Whether or not your revenue projections are met, every month, you must transfer to those other arms of government one twelfth of what is represented in the budget for them. There are other areas as well that are very critical, like security; whereby, regardless of whatever happens, you have to fund them. So when people talk about low performance of the budget, of which everybody is right to be concerned about, that concern really revolve around the capital expenditure side. But for recurrent expenditure, salaries are paid monthly, pensions are paid and other obligations necessary to keep government running are paid. So when people look at the capital side and use that as a complete determinant of how the budget has performed, it is not quite so.

The capital expenditure budget for instance for 2018, has being overall, cash-backed about 60 per cent, but on the recurrent side, it is near 100 per cent. A significant part of our budget is also for debt service. That also has performed 100 per cent. We did all our obligations as at when they fall due. So when you put all of those together, the aggregate performance of the budget is not as low as people make out. The aggregate performance of the budget is close to 80 per cent.

Akabueze

able to have a budget ready by the month of January. What needs to happen to get that is everybody - the legislative and executive. We have all agreed on the necessity to return the country to a predictable fiscal year. Despite the fact that government is not necessarily in aggregate; you know the private sector spends much more money than the government, but government expenditure has a great signalling effect in terms of the direction that the economy is going. So, the private sector tends to take their direction from the government budget, and that is why it is critical that we get back to a predictable cycle.

What is your role in the process of budget With that, the private sector and all other people preparation and also, there have been calls who do business in the country can plan better.

So everybody has agreed for the necessity of this for the review of the budget cycle to the January- December cycle and how does the late passage impact performance?

Without a doubt, late approval of the budget usually affects the performance of the budget, especially the capital projects. Donâ&#x20AC;&#x2122;t forget that, since January this year, salaries for 2019 have been paid. Other utility bills to keep government running have been paid, the security agencies have been working and they are being paid. In effect, the 2019 budget have been in operation.

The constitution has what we call the Provisional Budget Clause, which allows us; even before budget is passed, to spend up to 50 per cent of what was appropriated in the previous year. But then, because capital expenditure is appropriated in specifics, we cannot assume that, because there was an approval to spend money on a road last year, that there would be a similar approval to spend money on that road this year. And therefore on the capital expenditure side, we do not spend until the budget is signed into law, and we know exactly what has been approved.

So, that is also a contributory factor to the lower performance on the capital budget side. The truth is, for quite a long time now, we havenâ&#x20AC;&#x2122;t been

It is interesting that ďŹ ve months ago you all were shouting about the oil prices itself as being unrealistic as well as the quantity projection being unrealistic.You all basically wrote off the revenue projections as dead on arrival. It is interesting how time changes thing and now you acknowledge that we were right on the price projection

but somehow we havenâ&#x20AC;&#x2122;t been able to make this happen. It requires collaboration on both sides.

The National Assembly argues understandably that, to be able to pass the budget by the end of December, they need to get the budget by the end of September and that is great. But you see, if we only get a budget passed in May, itâ&#x20AC;&#x2122;s very difficult to have the budget for the next period ready before September. On the average, it takes a six months from the start of the process to the end, to complete a budget preparation.

Remember, there are over a 1,000 budget units/ agencies of government that we have to prepare budget for. So in the year where we all agreed to return the country to a January-December cycle, there has to be compromises on both sides.

Everybody has to understand the difficulties and we work together to basically get this done and there would have to be some transitional arrangement. But once we do that in one particular year, then we can get back to basics. And I am a supporter of legislation, letâ&#x20AC;&#x2122;s have legislation in place. There has being an organic budget law pending but of course, that law includes a budget calendar which will mandate everybody - executive and legislature, to complete their own part of the job by certain time. However, there is a challenge with that because we will need some amendments to the constitution, before that law can be passed. That is because the constitution doesnâ&#x20AC;&#x2122;t impose such a time limit, the constitution simply sayâ&#x20AC;&#x2122;s that the president must present a budget by the end of December.

So, if the president presents a budget by the 31st of December, he has satisfied the requirements of the constitution as it stands now. So, that constitutional position needs to be amended, and if that doesnâ&#x20AC;&#x2122;t happen, someday in future, even if you pass the budget, one president that doesnâ&#x20AC;&#x2122;t feel inclined with that law, may wake up to say that the constitution is superior, and

the constitution gives him the latitude to present the budget as late as December.

Talking about your revenue target for the 2019 budget, how feasible is this with oil production when output are not being made?

It is interesting that five months ago you all were shouting about the oil prices itself as being unrealistic as well as the quantity projection being unrealistic. You all basically wrote off the revenue projections as dead on arrival. It is interesting how time changes thing and now you acknowledge that we were right on the price projection. I think we should wait for the end of the year to see whether we are right on the quantity projection.

For us, 2.3 million barrels wasnâ&#x20AC;&#x2122;t a number pulled from the sky. We have a technical capacity to produce 2.5 million barrel per day. There have been challenges of security, safety and integrity of the pipeline on even evacuating the crude after it has been produced. There was funding challenges in the past and what we have sorted to do is try to address these challenges. We need to produce as much oil as we can while we still can.

So that is why we have challenged everyone involved to say what are your constraints so we can produce this 2.3 million barrels which we need to fund the ever growing needs of this economy.

I think that rather than this fixation or discussion of whether it is unrealistic or not, let us have the right conversation which is, do we need to produce 2.3 million barrels and more? And what we would need to do. The president has given marching orders to NNPC to do whatever they have to do to ensure that the 2.3 million barrels per day is met and the numbers we are currently getting is that they are doing more than 2.1 million barrels per day. Again, we have Continued on page 33

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33

AKABUEZE: FGâ&#x20AC;&#x2122;S BUDGET PERFORMANCE NOT LOW

FG Targets 2000 TraderMoni BeneďŹ ciaries in Anambra Nume Ekeghe

Akabueze

cushion for pricing that means we are 15 per cent over the price. That means that at the end of the day, instead of 2.3 million and we end up with 2.1 million, we would be 10 per cent down on volume. If we are 10 per cent down on volume and 15 per cent on price, we would still meet our projections.

What is your reaction to the deliberate decision by the NASS to increase deďŹ cit ďŹ nancing and the inclusion of some items into the budget every year?

Let me begin with the adjustment as the National Assembly was said to have made. As we speak, we have not received the details of what they passed. And on the usually process, when they pass the budget, they communicate details to the President who pass them on to us, and we match what they have passed to what was sent and then try to understand the rational for the changes and what needs to be done to implement them and if it is implementable. And until then, I am afraid I may not be able to comment on that. If we go by the media, we have heard too much news out there. From saying the National Assembly increased the budget by N10 billion and all kind of numbers. If you go by the new number, the difference is about N90 billion. But we donâ&#x20AC;&#x2122;t know if N90 billion is a net net number.

It may well be that the adjustments are much more than that. Some things may have been taken out; some things may have been added and N90 billion is just a net number. But until we get that details, I am not able to comment.

Then on the other part of your question which people often describe as repetitive and frivolous items, on one hand, you talk about the fact that the budget doesnâ&#x20AC;&#x2122;t perform up to 100 per cent, and the other hand you talked about repetitive provisions. The reality is that some of those items that you find repeating themselves, sometimes because they are considered low priority items, they are the last to get funding. And so, because the budget doesnâ&#x20AC;&#x2122;t perform up to 100 per cent, we donâ&#x20AC;&#x2122;t get to them. So, all that happens is that the agencies are asked to move them to the following year. Then in the following year, if we are able to get to them, we realise them, but if not, we further move them forward. That is one explanation. The other explanation is because resources are constrained, if an agency has a need for 200 computers, we then would say to them that â&#x20AC;&#x2DC;sorry, we might not be able to fund 200 computers in one year, we will be able to fund only 50 computers in a year.â&#x20AC;&#x2122; What that means is that in year one, you will see 50 computers in the budget of that agency, in year two you would see 50 computers in the budget of that agency again, then same as year there and year four. That is not repetitive, but 200 computers bought over four years. So before you make conclusion of whether an item is frivolous or repetitive, ask us through the citizensâ&#x20AC;&#x2122; portal on our website, we will give you answers rather than rush to conclusion when you may not have all the facts. And it baffles me when people talk about entertainment, all of the provisions for what you call entertainment. The entire provisions in the budget for overheads of government in the 2018 budget for instance was N246 billion, which was less than three per cent of the total budget. So people talk about cost of government; if you made overheads zero, it doesnâ&#x20AC;&#x2122;t amount to significant savings.

Why is FG shying away from subsidy removal just as the new minimum wage has been approved. What are some of the recommendations you came up with so that we do not borrow more to fund this budget?

The government would make the recommendations public when it deems it necessary to do so and there is a process that is currently on-going.

It would be difficult for me to comment even though I was a member and secretary of that committee. Broadly speaking, the recommendations about initiatives for raising revenue and for cutting cost where feasible. I can assure you that there is not much in those recommendations that is totally novel. On the removal of subsidy, again this is a matter that is under consideration.

Right now, we had a situation where the current administering has made some adjustment in petroleum pricing on PMS and because all other products have been deregulated. It is only about petrol with N145 on the price. Given the current dynamics of the oil market, the landing cost of PMS is more than the price ceiling and so what has happened is that the private traders of petroleum products have moved away from the market. But NNPC, given its commitment to ensure availability of petroleum products in the country now finds itself as the only one in that business of importing and distribution and in that process, is incurring losses. So the under recovery of the trading in PMS washes off on the over- recovery of profits in some other lines of their business and that is the way it is happening. Whatever decision we make on recovery is only interim. The goal of the administration is to increase domestic refining capacity. When we have sufficient capacity, some of the cost elements that contribute to what we call subsidy would disappear and so if the products where refined domestically, we would expect cost like transportation, financing cost for period of ordering to delivery and even the infrastructure cost that is required to manage and handle importation, insurance and more.

Whatever happens to subsidy is only interim measure.

Many Nigerians have raised concerns about extra budgetary spending, is there a justiďŹ cation for it especially on the Tradermoni not being appropriated for which the opposition recently described as a vote buying tool?

Anyone that says Tradermoni is extra budgetary probably hasnâ&#x20AC;&#x2122;t read the budget and doesnâ&#x20AC;&#x2122;t understand it. There is a N500 billion provision in the budget and it has been there in the last three years, every year, for what we call the social investment program of the government and Tradermoni is only a small component of that.

Tradermoni is provided for in the budget.

But what has happened in terms of delivery and mechanism for delivery was that instead of set up another agency or another structure of government, government decided to utilise the Bank of Industry, which already had an arm of it focused on MSMEs. One of the programs under the social investment is the Government Empowerment Program (GEP). Tradermoni and Marketmoni are simply just an element of that and a small one at that. So there is nothing extra budgetary about that.

To increase social intervention across different market segments, the Vice President, Prof. Yemi Osinbajo, recently has unveiled the second phase of the TraderMoni and MarketMoni in Awka and Onitsha, Anambra state.

The schemes were launched in both Eke Awka in Awka South local government area and Ochanja Market in Onitsha, as beneficiaries acknowledged the receipt of funds ranging from N10,000 for the TraderMoni and N50,000 for the MarketMoni.

Executive Director, Micro Enterprises of the Bank of Industry, Mrs Toyin Adeniji, was quoted in a statement to have said the unveiling of the second phase was to sustain continued efforts to meet the primary objective of, â&#x20AC;&#x153;broadening financial

inclusion, and increasing access to affordable credit for traders and small business owners.â&#x20AC;?

She said: â&#x20AC;&#x153;This phase will target at least 2,000 new TraderMoni and MarketMoni beneficiaries. This is in addition to the over 30,000 TraderMoni and 4,000 plus MarketMoni beneficiaries that received the GEEP loans in the first phase, between 2017 and 2018. â&#x20AC;&#x153;Prior to this official market activation, 200 new MarketMoni beneficiaries have been recorded in the state. The second phase will also target traders for the N15,000 Next Level TraderMoni loans for traders who have repaid the first N10,000 loan.â&#x20AC;?

According to the statement, some of the beneficiaries said the money would help them to buy more wares and also

enhance their profit margin, thereby improving the standard of living of their families.

One of the beneficiaries of TraderMoni, Mrs Ujunwa Okonkwo, who hawks detergents in a wheel barrow in Eke Awka, was quoted to said: â&#x20AC;&#x153;I have been doing this business for three years now. My wares would have grown bigger than this; it is from here that I feed my two children. â&#x20AC;&#x153;Now that the federal government has helped me with money, I am sure that I can do better. I am happy that people like us can still be remembered by the federal government.â&#x20AC;?

Osinbajo arrived in the company of the state governor, Chief Willie Obiano and Adeniji, and moved round the market to interact with the beneficiaries.

Baobab MFB Plans N30bn Loan Disbursement James Emejo in Abuja The Managing Director/ Chief Executive, Baobab Microfinance Bank, Mr. Kazeem Olanrewaju, has said it plan to disburse about N30 billion to small and medium scale (SMEs) customers by the end of the year He added about N5 billion had been disbursed this year.

Speaking at a customersâ&#x20AC;&#x2122; forum in Abuja, he said, â&#x20AC;&#x153;We still have about N25 billion to go and it is part of the reasons we are here today to talk to our clients to let them know that there are a lot of things available for them to be able to take home.â&#x20AC;?

He said the bank has a lot of focus on creating risk assets for customers, stressing that over 120,000 lives had been touched with over N30 billion disbursed within the past 10 years.

He said its outstanding loan book currently stands at about N7.5 billion from about 27,000 customers.

Olanrewaju also said the rate of loan repayment had been impressive as, â&#x20AC;&#x153;We closed the year with about 2.3 per cent and what that means is that for every N100 we give out, we are getting N97.70 and so for us, it is very good. And I can also tell you it is one of the best you can get in the industry today.â&#x20AC;?

According to the MD: â&#x20AC;&#x153;The idea that customers donâ&#x20AC;&#x2122;t pay is not true and we donâ&#x20AC;&#x2122;t agree. We have some dissenting customers who would not follow the norm and not pay but they are fewer, the majority are paying back. â&#x20AC;&#x153;And sometimes, they tell you that the poor people donâ&#x20AC;&#x2122;t pay which is not true based my experience but I

need to also say that our customer selection process is very rigorous but once you come in, we grow your business at the pace that you want to go. â&#x20AC;&#x153;We have seen people who started with about N300,000 and today they do loans of more than N15 million. Our system is drawn in a way that if you are a good customer you can easily grow.â&#x20AC;?

He added: â&#x20AC;&#x153;Today, we have automated even our loan process and if you have good repayment history you can get a 20 per cent increase each time you want to renew your loan and you donâ&#x20AC;&#x2122;t have to go through all the process of documentation all over again. â&#x20AC;&#x153;We grew three years ago with less than three branches to about 20 branches today and our loan book was about N2.7 billion but today is close to N8 billion.

Nigerian Breweries Recommends N19.40bn Dividend Pay-out Nigerian Breweries Plc has recommended total dividend of N19.401 billion for the 2018 financial year.

This amounted to dividend of N2.43 per ordinary share of 50 kobo each.

The company attributed the 100 per cent dividend payout as a demonstration of its strong balance sheet and robust cash flow.

Managing Director of the Company, Mr. Jordi Borrut Bel, disclosed this at its Pre-AGM press briefing in Lagos recently.

Bel said the company had earlier paid an interim dividend of N4.8 billion in October 2018, which amounted to 60 kobo per share. The final dividend would therefore be N14.6

billion, which comes to N1.83 per share.

An analysis of the companyâ&#x20AC;&#x2122;s results showed that it recorded a net revenue of N324.38 billion for the 2018 financial year as against N344.53 billion recorded in 2017.

Bel explained that the marketing and distribution expenses for the 2018 financial year increased by 4.8 per cent relative to the cost incurred in 2017, and administrative expenses also experienced a 4.4 per cent declined from N21.75 billion to N20.78 billion, which was largely informed by elimination of bad costs.

He also disclosed that though the excise duty

tariff imposed by federal government at 43 per cent increase took serious toll on the business, it was difficult for the company to pass the cost to consumers in view of weak purchasing power.

A further analysis of the companyâ&#x20AC;&#x2122;s audited results showed that profit after tax increased sharply from N14.79 billion, to 19.43billion between the third quarter and the fourth quarter of the 2018 financial year respectively.

Borrut Bel stated that despite the double digit inflation and other operating challenges which affected the companyâ&#x20AC;&#x2122;s performance, the impact was reduced by costsaving measures deployed through cost leadership initiatives.

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Larbie: Nigeria Remains Attractive Investment Destination Hamid Ayodeji The Chief Executive Officer of Rand Merchant Bank Nigeria (RMBN) and Regional Head, West Africa, Michael Larbie, has emphasised that despite the recent economic headwinds in Nigeria, the country remains an attractive investment destination.

Larbie, said this whilst speaking during a panel session at the 2019 Annual Investor Day which took place recently in London recently.

According to a statement, the conference, partly sponsored by RMBN and organised by the Association of Assets Custodians of Nigeria focused on stimulating foreign investors interest by convening a forum for market participants, institutions and regulators. The panellists discussed Nigeria as an attractive investment destination, recent

developments in the Nigerian securities markets, capital markets regulations and the role of key securities market operators.

Continuing, Larbie noted that efforts in ensuring a conducive business environment in Nigeria were yielding some positive results. This, he said showed by Nigeria moving up 23 places in the World Bankâ&#x20AC;&#x2122;s ease of doing business ranking to 146 in 2019, from 169 of 190 countries ranked in 2016.

RMB Africa research also confirmed the improved attractiveness of Nigeria as an investment destination, with Nigeria moving up five places to eighth position in its annual â&#x20AC;&#x2DC;Where to Invest in Africaâ&#x20AC;&#x2122; report.

He also noted that the government was also providing incentives to investors in select sectors known as pioneer sectors and opening free trade

zones to boost manufacturing and trade. â&#x20AC;&#x153;From a demographic perspective, Nigeria has one of the most attractive demographics in Africa boasting of a young population with a median age of 18 years, the largest labour force (90 million) and consumer market ($270 billion) in Africa. â&#x20AC;&#x153;In addition to these, Nigeria is strategically located in the Gulf of Guinea, providing access to export goods to developed markets as well as the potential to be Africaâ&#x20AC;&#x2122;s manufacturing hub,â&#x20AC;? he added.

The RMBN boss also noted that Nigeriaâ&#x20AC;&#x2122;s infrastructure deficit which requires a funding of $3 trillion over a 30-year period also provides significant investment opportunities for potential investors.

He, however, noted the need for clarity of regulations and

improved security.

According to him, a deliberate and concerted effort by government partnering with the private sector to improve education, healthcare and infrastructure are catalysts to ensure Nigeria truly benefits from its large and growing population.

The conference was organised to promote foreign portfolio investment (FPI) inflows into Nigeria. The theme of the conference was, â&#x20AC;&#x2DC;Nigeria â&#x20AC;&#x201C; The Economics of the Capital Market.â&#x20AC;&#x2122; The panel sessions dissected Nigeria as a case study in terms of the push and pull of investment opportunities, the capital market opportunities available, the safety of investments and the role of custodians, fund managers, broker dealers, and regulators in upscaling the market.

The CBN Governor, Mr. Godwin Emefiele, who was at the event, reiterated the strength of Nigerian banks and the broader banking system. According to him, the central bank has a strong bias for monetary policy that is conducive for growth and ensures a stable currency during his session at the conference.

Speaking on the sidelines of the conference, the Head of Global Markets, RMB Nigeria, Nadia Zakari, said the addition of custody services to the product offering of the bank would further deliver end-toend efficient trading and post trading experience of the bankâ&#x20AC;&#x2122;s existing and future clients.

Also, the Head of Custody, RMB Nigeria, Abiodun Adebimpe, noted that recent developments in the securities markets such as CSCSâ&#x20AC;&#x2122;s

risk management assessment upgrade from A to A+, stable and liquid FX markets, launch of FMDQ Clear to support derivatives, among others, were testaments to the fact that Nigeria is open for business and is a market that welcomes and listens to investors.

The Head of Research for RMB Nigeria Stockbrokers, Gbenga Sholotan, noted the role of key securities market operators in providing a forum to drive healthy debate and prompt action by market regulators and operators in creating a sustainable, transparent and efficient market.

He said Nigeriaâ&#x20AC;&#x2122;s investment environment would continue to experience growth given the focus of key market operators in the areas of cutting edge product development to enhance market liquidity.

Expert Seeks Enhanced Nigeria-Britain Business Relationship Raheem Akingbolu A writer and member of the Nigeria-Britain Association, Mr. Olabode Ogunlana, has urged stakeholders to take an historical look at the relationship between Britain and Nigeria to develop a new business relationship that would benefit both countries.

He spoke at one of the activities celebrating the 50th anniversary of the Nigerian British Association, themed: â&#x20AC;&#x2DC;What the British brought to Nigeria and their leave Behinds.â&#x20AC;&#x2122; While speaking on the relevance of storytelling to development, he revealed how Britain took cocoa and rubber from Nigeria and turned it to wealth. He also spoke glowingly on how Britain helped Nigeria to nurture an efficient civil service.

Speaking on how reference to history could help nations strengthen their bonds, Ogunlana, who is a folklorist, said story telling helps to document history, as well as preserve the culture of the people and the nation at large. He maintained that stories about a countryâ&#x20AC;&#x2122;s cultural heritage should be kept and transmitted to generations unborn so that they would be acquainted with their culture. â&#x20AC;&#x153;Story does not only teach, instruct, amuse and entertain.

It is a pity history has been removed from our curriculum.

Bad leaders seem to think that by covering misdeeds, they are safe,â&#x20AC;? he stressed.

He continued: â&#x20AC;&#x153;It is important to write stories to call attention to what happened in the past, which is still affecting us today.

We need to read and write stories; it is the thing that links the past, present and future. If we donâ&#x20AC;&#x2122;t know what happened in the past, it affects our future.â&#x20AC;?

The folklorist stressed that history would enable the people know what transpired between Nigeria and Britain and also correct the negative perception about the colonial rule.

In his remark, the President, Nigeria British Association, Shola Tinubu, said the association promotes friendship between Nigeria and Britain, as well as the exchange of cultures. â&#x20AC;&#x153;Storytelling is an integral part of any cultures and an even peculiar one in Africa. It is the fine blend of history and the premonition of the future; all wrapped up in the aesthetics of words of vivid imagery,â&#x20AC;? he said.

He cited Peter L. Berger words, which says â&#x20AC;&#x153;human life is narratively rooted; human construct their lives and shape their world into homes in terms of these groundings and memories.â&#x20AC;?

Dia Joins UBA Board of Directors The United Bank for Africa(UBA) at the weekend announced that Mr Abdoul-Aziz Dia will join the bankâ&#x20AC;&#x2122;s Board of Directors subject to the approval of the Central Bank of Nigeria.

Dia, a Senegalese citizen, has over 25 years of banking experience garnered from several countries across the globe, including the United Kingdom, France, Nigeria, Ghana, Togo, Senegal, Kenya and Cote Dâ&#x20AC;&#x2122;Ivoire. He has worked in senior management positions at international financial institutions such as the African Development Bank, Citigroup, Standard Chartered, Ecobank and UBA. Dia has served in the capacity of Executive Director on various

company Boards in Africa and in Europe and now joins the UBA Group as a non-Executive Director of the Board. He holds a Masterâ&#x20AC;&#x2122;s Degree in Statistics and Financial Mathematics from ENSAE in Paris, France.

He is fluent in six languages -French, English, Romanian, German, Wolof and Fulani. â&#x20AC;&#x153;Abdoul-Aziz Dia is a seasoned banker with a wealth of experience. He joins the UBA Board with a global outlook and I am confident that he has a vital role to play in the future of UBA and will add enormous value to the Groupâ&#x20AC;&#x2122;s growth strategy,â&#x20AC;? a statement quoted UBA Group Chairman, Mr Tony Elumelu, to have said.

THIS IS OUR SCORECARD

L-R: General Counsel, Ghana-Nigeria/Company Secretary, Mrs. Abidemi Ademola; Chairman, Board of Directors, His Majesty, Obi of Onitsha, Nnaemeka Achebe and Managing Director, Mr.Yaw Nsarkoh, during the 94th Annual General Meeting of Unilever Nigeria Plc in Lagos...recently abiodunajala

AAAN Adopts New Brand Identity, Decries Lack of APCON Council Raheem Akingbolu As members of the Association of Advertising Agencies of Nigeria (AAAN) prepare for their 46th Annual General Meeting slated for July, in Asaba, Delta State, the association has unveiled a new identity in line with the repositioning drive of its current leadership.

The theme for the AGM is â&#x20AC;&#x2DC;The War Within: Solutions for Survival.

Speaking with journalists in Lagos, the President of the association, Ikechi Odigbo, who also announced that an Advertising Academy would take off this year, said the new logo unveiling was informed by the need to renew the value members of the association were known for. â&#x20AC;&#x153;Our new logo speaks about our DNA and repositions us as sectoral leader in the market-

ing communications industry.

By DNA, Iâ&#x20AC;&#x2122;m referring to our shared value in professionalism, creativity and excellence.

We believe there is need to revive those values we stand for and re-jig the association for repositioning, hence the need for new identity. â&#x20AC;&#x153;Our blue colour stands for stability and reliability, while the orange speaks to vibrancy which touches on how we are winning Nigerians for our clients. With the new identity, we are telling stakeholders in the industry, including government and our clients that a new dawn is here,â&#x20AC;?

On the theme of the yearâ&#x20AC;&#x2122;s AGM, Odigbo, said members thought of looking inwards and identified those challenges that were self-inflicted before looking at external factors that are threatening the growth of advertising business. He said speakers at the AGM

would access the industry and point out how advertising practitioners can make their business to be more resilience.

Speaking further, the president, who described the Advertising Academy as a pillar project of the AAAN, said he was confident that it would bring a new development to the nationâ&#x20AC;&#x2122;s advertising industry. â&#x20AC;&#x153;With the way we model the Advertising Academy, it supposed to be a big vehicle for capacity building and a training ground for entry level and even middle level managers. The academyâ&#x20AC;&#x2122;s curriculum, though tailored to deepen creative and business knowledge, it will be more entrepreneurial model,â&#x20AC;? he added.

While assuring the federal government of the willingness of his members to partner government in the area of communications, the AAAN boss expressed concern over

how the country has lost a great deal in regulation and business to governmentâ&#x20AC;&#x2122;s nonchalant attitude toward inauguration of the council of the Advertising Practitioners council of Nigeria. â&#x20AC;&#x153;Much as we appreciate governmentâ&#x20AC;&#x2122;s effort to boost the economy, we appeal to the relevant authorities to look into the issue of APCON council when the new administration begins. For close to four years, it is sad that the body that is saddled with the regulation of the entire industry is yet to have a board. â&#x20AC;&#x153;Beyond this, we are also concerned about the need to have qualified practitioners as members of the council. Over the years, the development has affected regulation negatively and lead to loss of revenue, thereby killing the economy,â&#x20AC;? he added.

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CBN Deputy Governors, Others Named CIBN Fellows The Chartered Institute of Bankers of Nigeria (CIBN) will this Thursday, May 16, 2019, formally confer its honorary fellowship awards on six distinguished bankers in recognition of their contributions to the banking industry and the nationâ&#x20AC;&#x2122;s economy.

The awardees, according to a statement from the institute are the Deputy Governor of Central Bank of Nigeria (CBN), Financial Systems Stability Directorate, Mrs. Aishah Ahmad; the Deputy Governor, CBN, Corporate Services Directorate, Mr. Edward Adamu, the Managing Director/CEO, Zenith Bank Plc, Mr. Peter Amangbo; the Chairman, Goldfield Group, Mr. Bade Adeshina; the Managing Director/CEO, Development Bank of Nigeria Plc; Mr. Tony Okpanachi and the Managing Director/CEO, Jaiz Bank Plc, Mr. Hassan Usman.

The event which would hold in Lagos, would be honoured by the Vice President, Professor Yemi Osinbajo as the Distinguished Guest of Honour; the former Head of State, General Yakubu

Gowon as Chairman of the occasion and the Founder and Chairman, Dangote Group of Companies, Alhaji Aluko Dangote as the Special Guest of Honour.

While the Chairman, Coronation Capital Nigeria Limited and Africa Initiative for Governance, Mr. Aigboje Aig-Imoukhuede, would deliver the keynote address titled, â&#x20AC;&#x153;Ethical Dilemma in Financial Institutions: The Way Forward,â&#x20AC;? the President, CIBN, Dr. Uche Olowu, would chair the occasion and the First Vice President, CIBN, Mr Bayo Olugbemi, would be the Chief Host and the Registrar/CEO, Mr â&#x20AC;&#x2DC;Seye Awojobi would be the host. â&#x20AC;&#x153;The event is also expected to attract attendance of top management of banks and other financial institutions, regulatory agencies, captains of industry, diplomats, government functionaries and other stakeholders. â&#x20AC;&#x153;The awards will be conferred on awardees at the first ever extraordinary investiture of the institute held, outside the regular CIBN investiture series,â&#x20AC;? the statement explained.

Airtel Extends 4G Network to Akwa Ibom Okon Bassey in Uyo Airtel Nigeria has extended its Fourth Generation-Long Term Evolution (4G-LTE) network service to Akwa Ibom State.

The Airtel 4G Network Service was officially unfolded recently in Uyo, Akwa Ibom State capital before a cross-section of the Akwa Ibom State community by the State Governor, Mr Udom Emmanuel.

The Managing Director & Chief Executive Officer, Airtel Nigeria, Mr Segun Ogunsanya described the 4G network as the largest and most robust network in Nigeria today.

Ogunsanya, who was represented by the Regional Operations Director, South, Mr Oladapo Dosunmu, expressed

satisfaction with the response of customers in the state to the new Airtel Service. â&#x20AC;&#x153;This is not just the launch of 4G Service but a total modernisation of the Airtel Network infrastructure in Akwa Ibom with new and innovative offerings that will empower and offer real value to the great people of this state,â&#x20AC;? he stated.

According to him, launch serves as a glowing testimony of the commitment of the management of Airtel Nigeria to partner and empower the people of Akwa Ibom State.

Ogunsanya, explained that the new network comes with a lot of benefits which include accelerating economic and commercial activities; boosting personal and professional

productivity; help to create more entrepreneurs.

He added: â&#x20AC;&#x153;With 4G, Airtel will also power people, businesses and aid governance through Technology. â&#x20AC;&#x153;I must say that I am very proud of this roll-out because we have put in a lot of work to ensure that we offer Nigerians a true 4G experience. Ours is a 4G service that is not only fast and reliable but a 4G Service that works. â&#x20AC;&#x153;Airtel is passionate about enriching lives and creating value for all our stakeholders.

We believe that delivering a superior 4G experience is a major step in actualising our objective of making life simple and better for Nigerians.â&#x20AC;?

He praised the technol-

ogy partner, Huawei for the role played in rolling out the service in the state, adding that the company demonstrated commitment, focus and professionalism during the course of the project.

The State Governor while launching the 4G service in the state, called on the citizens to embrace the network. He stressed that the new network was not for fun but for productivity, growth, progress and development of the user.

The Governor who was represented by the Secretary to the State Government, Mr. Emmanuel Ekuwem, urged Airtel to organise a summit to enlighten the citizens more on how to use broadband to expand business.

Kaduna Dry Port Opens New Opportunities for Businesses, Says FG Kasim Sumaina in Abuja The federal government has stated that with the commencement of cargo delivery by rail to the Kaduna Inland Dry Port, a new vista of commercial opportunities has been opened not only for northern businessmen, but also neighbouring countries.

The Minister of Transportation, Mr. Chibuike Rotimi Amaechi, said this while inaugurating the port in Kakuri, Kaduna state.

According to him, â&#x20AC;&#x153;The progressive effort of the present administration in rail rehabilitation and construction was aimed at ensuring effective inter-model transport connectivity nationwide.â&#x20AC;?

Amaechi, noted that the dry port would will greatly provide the needed stimulus for massive economic growth in Kaduna state and the country at large. â&#x20AC;&#x153;The inland ports would not only reduce transport costs but also bring shipping to the door steps of shippers as it will also stimulate economic growth and prosperity.â&#x20AC;?

The minister, represented by the Director of Service, Ministry of Transportation, Sani Galadanci, noted that, dry ports are transport infrastructure projects promoted by the ministry and Nigeria Shippers Council as part of the solutions to problems faced by hinterland shippers.

He said: â&#x20AC;&#x153;Todayâ&#x20AC;&#x2122;s event has opened a new vista of commercial opportunities not only for Northern businessmen, but also neighbouring countries. â&#x20AC;&#x153;The dry port will also address the problems of inadequate access to sea ports, remove frequent congestion which resulted in the loss of cargo on transit, carnage and accident on the land mode.â&#x20AC;?

He, however, called for collaboration among all stakeholders to ensure success.

Similarly, the Executive Sec-

retary of the Nigerian Shippers Council (NSC), Hassan Bello, said the council was yet to finalise the actual cost of freight forwarding by rail.

But, he was sure that the cost would be half of the current price.

Bello noted that, following the commencement of rail operations at the Kaduna dry port, cargo delivery services to northern part of the country may be slashed by 50 percent.

He said: â&#x20AC;&#x153;Usually, freight transportation by road from Lagos seaport to Kaduna Cost about N700,000 - N1million.

However, the flag-off of rail operations at the dry port, would among other things reduce transportation cost, ease cargo clearance and also remove the cost of demurrage.â&#x20AC;?

He said the train has about 24 wagons with the capability to carry an average of 24 containers. He added that the federal government has been working assiduously to increase the number of wagons so as to increase the number of containers being transported through rail. â&#x20AC;&#x153;About 24,000 direct jobs would be created and we are in talks with the Niger Republic and Chad to make the Kaduna dry port their port of destination which would further boost economic activities and create more jobs,â&#x20AC;? he added.

To further attract investors to the dry port, the ES hinted the government was in talks with the Commonwealth Enterprise and Investment Council in London to attract investment.

The Kaduna State Governor Mallam Nasir El-Rufai, in his remark, observed that the significance of the Kaduna Dry port was that goods can be exported and imported in and out of Kaduna inland dry port without the containers being opened up for inspection in Lagos.

TAX BREAKFASTSEMINAR

L-R: Chief Operating Officer, KPMG Professional Services, Mr. Victor Onyenkpa; Associate Director, Tax, Regulatory and People Services, Nike YomiFaseun; Executive Chairman, Federal Inland Revenue Service, Mr. Babatunde Fowler; Partner, Tax, Regulatory/ People Services, KPMG, Nike James; Partner,Tax, Regulatory/ People Services, Mr. Ajibola Olomola; and Professor ofTax and Fiscal Matters, University of Lagos, Prof. Abiola Sanni, at the KPMG tax breakfast seminar held in Lagosâ&#x20AC;Śrecently ETOP UKUTT

NIMN Inducts Ufot as Fellow The National Institute of Marketing of Nigeria (NIMN) has conferred its fellowship award on the Group Managing Director of the SO & U Group, Mr. Udeme Ufot.

The event was a gathering of renowned marketing professionals, the academia, government functionaries as well as members of the general public at the recently held Annual Marketing Conference and Dinner Awards Night of the NIMN held in Port Harcourt.

This yearâ&#x20AC;&#x2122;s event which had as its theme â&#x20AC;&#x153;Marketing Nigeriaâ&#x20AC;&#x2122;s Non-Oil sector for sustainable growth and development,â&#x20AC;? also

witnessed the induction of several other recipients.

Ufot was first nominated for fellowship two years ago, but was not conferred as he was unavoidably absent for the induction With over 36 years of marketing communications practice, Ufot has had a distinguished career trajectory that has seen him hold various leadership positions in the marketing communications sector including President of the Association of Advertising Practitioners of Nigeria and Chairman of the Advertising Practitioners Council of Nigeria (APCON).

He is a registered fellow of the Advertising Practitioners Council

of Nigeria.

A statement explained: â&#x20AC;&#x153;He currently leads one of the countryâ&#x20AC;&#x2122;s most dynamic and innovative marketing communications powerhouse â&#x20AC;&#x201C;The SO&U Group with services covering advertising, events managements, activations, public relations, digital engagements, strategic media planning and buying as well as audio visual productions. â&#x20AC;&#x153;Outside of the advertising industry, Mr. Ufot holds and has held various positions of responsibility including board membership of the Nigeria Economic Summit Group (NESG), Chairman of Leap Africa, Director,

Special Olympics Nigeria as well as Past President of the Lagos Business School Alumni Association. â&#x20AC;&#x153; Speaking shortly after his induction, the statement quoted Ufot to have described the recognition as a further challenge to do more for the growth in the practice of marketing in Nigeria. â&#x20AC;&#x153;I am delighted at this honour by this great institute that plays a critical role in creating and maintaining standards in the marketing profession in Nigeria.

I will continue to work with the institute towards the promotion of marketing excellence in Nigeria,â&#x20AC;? he stated

First Bank Trains Senior Management Executives Ugo Aliogo In line with its commitment to capacity building, First Bank of Nigeria recently organised a Senior Management Development Programme (SMDP) for its senior executives.

Speaking at the graduation ceremony in Lagos recently, the Chief Executive Officer, First Bank of Nigeria, Adesola Adeduntan, said the SMDP was in line with the bankâ&#x20AC;&#x2122;s objective of growing

business leaders.

He also explained that the programme provided an empirical means of strengthening the bankâ&#x20AC;&#x2122;s leadership. The First Bank CEO explained that an increase in the number of skilled senior managers places the bank at a competitive advantage both locally and internationally.

He added that the SMDP delivers a blend of practical knowledge with personalised learning, adding that it also

provides a more integrated and multidisciplinary view of strategy, leadership, and the FirstBank Group.

According to him, â&#x20AC;&#x153;SMDP delivers a blend of practical knowledge with personalised learning and provides a more integrated and multidisciplinary view of strategy, leadership, and the FirstBank Group. The SMDP inaugural run took place in 2017 and we had a total of 23 exemplary leaders graduate.

â&#x20AC;&#x153;This session kicked off in October 2018 and today, I am pleased to note that 17 delegates that were successful in the screening process are graduating this year. â&#x20AC;&#x153;The focus of the programme modules were: managing strategy, innovation and execution; managing operational efficiency and business performance; managing business performance and customer value creation and managing organisational change and transformation.

36

T H I S D AY Ëž ÍŻÍąË&#x153; 2019

BUSINESS/MONEYGUIDE

Iledare: Downstream Sector Deregulation May Save Nigeria $5bn Chineme Okafor Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; Nigeria may save more than $5 billion annually if the country deregulates its downstream petroleum sector, the immediate past president of the Nigerian Association of Energy Economists (NAEE), Prof. Wumi Iledare, has disclosed.

Speaking recently at a workshop in Lagos organised by the Nigeria Natural Resource Charter (NNRC) on the Petroleum Industry Governance Bill (PIGB), which is yet to be signed into law by President Muhammadu Buhari, Iledare, equally stated that a reformed Nigerian oil industry could result to her crude oil reserve rising to 40 billion barrels, in addition to daily oil production hitting four million barrels (mb).

He explained that gas supply for power generation could also go up to eight billion cubic feet per day (bcf); gas supply to industries and other allied industries up to 3bcf; while the countryâ&#x20AC;&#x2122;s production and supply of Liquefied Natural Gas (LNG) could also hit 40 million metric tonnes per annum (mtpa), if the industry is restructured to admit efficiency.

Furthermore, Iledare, noted that

using the PIGB to reform the countryâ&#x20AC;&#x2122;s oil industry would see to it locally refining 1.2mbd of oil for both domestic consumption and export of refined petroleum products, in addition to zero gas flare achieved.

For years, Nigeriaâ&#x20AC;&#x2122;s oil industry has reportedly underperformed on the back of the failure of government to reform its operations in tandem with current realities in the global oil industry. This, according to experts have resulted in loss of value. More so, the PIGB legislated on by the eight national assembly has been overlooked

by Buhari, citing a couple of infractions in the bill. â&#x20AC;&#x153;Petroleum industry restructuring and sector reform across the value chain is long overdue to halt inefficiency, ineffectiveness and inequity,â&#x20AC;? said Iledare, who maintained that the aspiration of the federal government has being for Nigeria to be among the top 20 economies of the world by 2020. This aspiration, he noted requires that the countryâ&#x20AC;&#x2122;s economy grows by 10 or 12 per cent annually, and largely dependent on access to affordable, secure and clean energy - oil, gas, and power.

He however said: â&#x20AC;&#x153;Nigeria has the potential to become a

highly prosperous economic power with its large human and natural resources but for poor institutional and governance structure; ineffective federal character doctrine; insecurity of assets; poverty of the mind and elite capture phenomenon; inadequate connectivity or linkage with non-oil sector of the economy.â&#x20AC;? â&#x20AC;&#x153;Nigeriaâ&#x20AC;&#x2122;s economy is currently highly dependent on the capital intensive oil and gas sector but accounting for less than 15 per cent of its GDP over the last decade, reported as the lowest amongst OPEC countries. â&#x20AC;&#x153;Petroleum accounts for over 80 per cent of foreign exchange earnings, 98.8 per cent of total exports, and about 70 per cent of federally collected revenues. â&#x20AC;&#x153;Though Nigeria is a major oil exporter, it imports nearly all of its refined products,â&#x20AC;? Iledare explained.

Speaking on the need for Buhari to sign the PIGB into law after the National Assembly had reviewed and corrected sections of it he found wanting, Iledare said: â&#x20AC;&#x153;The PIGB has set out the foundations that will ensure optimum management (perform and drive growth) of the Nigeriaâ&#x20AC;&#x2122;s petroleum resources.â&#x20AC;?

Fidelity Pledges Support for Balogun, ASPAMDATraders Oluchi Chibuzor The Managing Director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo has pledged greater support for customers of the bank at the Balogun Business Association (BBA) and the Auto Spare Parts and Machinery Dealers Association (ASPAMDA), located at the trade fair complex in Lagos.

Okonkwo, while speaking with journalists, said the bank does not only serve the corporate class, but also the middle and lower class of the market. â&#x20AC;&#x153;We do not only serve the corporate end of the market, we also serve the middle and the lower class of the market. â&#x20AC;&#x153;We are very strong in SMEâ&#x20AC;&#x2122;s.

Most of these people are SMEâ&#x20AC;&#x2122;s.

They are the engine block of commerce and trade in the country,â&#x20AC;?

Okonkwo said.

The CEO, who was at the market to interact and get first-hand information added, â&#x20AC;&#x153;we simply came here to connect with our customer. Fidelity Bank as you know does not only serve the corporate people, it also serves the middle and the lower class of the market. â&#x20AC;&#x153;We are very strong in the SMEs and most of the people here are SMEs, because they are the engine hub of trade and commerce in this country and in line with our customer Week Forum Calendar yearly, we do this occasionally.â&#x20AC;?

He disclosed that the bank recently entered into a partnership with the African Development Bank on SMEs support fund. â&#x20AC;&#x153;We have signed a $50 million SMEs support fund with African Development Bank. Thirty per cent of this will be going to female

entrepreneurs. You have a huge numbers of female entrepreneurs in this market, so it is more than just a coincidence that we are here today to connect with our customers and know how we can serve them better. â&#x20AC;&#x153;Fidelity Bank is a strong supporter of SMEs, most of them are accessing funds at nine per cent, under various intervention schemes and for those who do not qualify for single digit loans, they borrow at commercial rate but as much as possible we try to make sure we provide single digit loans for these customers through various windows available,â&#x20AC;? the bank CEO told the traders.

Also, the Executive Director, Lagos and South-west of the bank, Nneka Onyeali Ikpe, said the bank was poised to build the capacity of women entrepreneurs for greater accountability.

SEL Capital Expands, Eyes Merchant Banking Licence SEL Capital Limited has expanded its operations to provide more funding and financial advisory services to small and medium scale enterprises (SMEs) and investment advice to high net-worth individuals (HNIs).

The Managing Director/CEO, SEL Capital Limited, Mr. Segun Opaleye, said the expansion plan would enable the company translate to a merchant bank within the next three years.

Speaking during the opening of the new companyâ&#x20AC;&#x2122;s head office in Victoria Island, Lagos, he said no nation can thrive without giving needed policy and financial backing to SMEs. He said the company, which aspires to be the gateway and catalyst for mobilising capital for business growth and development across Africa, opened the new office to enable it reach out to more customers.

According to Opaleye, SEL Capital provides advisory services to SMEs on building a growth company, funding opportunities, expansion and structure for easy access to capital. â&#x20AC;&#x153;We take so much time in guiding SMEs through key requirements to run a proper business. The issue around SMEs that impact negatively on their ability to access funding is poor corporate governance practices and we are helping them to resolve that by creating business-enabling structure for their businesses,â&#x20AC;? he said.

He said that the company also provides investment advisory services to HNIs, who already understand some of the market dynamics but needed guidance to make better investment decisions.

On the expansion plan, Opaleye said the company started

operation last year from its office at Parkview Estate, Ikoyi, Lagos, adding that the new head office is within its plan for a bigger and befitting space to get it ready for business. â&#x20AC;&#x153;The whole idea is to increase our clientele base. We have also in the short period, been very instrumental in capital raising for key clients and secured funding projects in key growth sector of the economy. We just concluded a $12 million funding for a captive power plant project for a client,â&#x20AC;? he explained.

As part of the companyâ&#x20AC;&#x2122;s plan to support SMEs and promote financial inclusion, he said the firm was finalising plan to float a N2 billion SME Fund. â&#x20AC;&#x153;True to our value, we are offering innovative and reliable solutions to promote and deepen financial inclusion,â&#x20AC;? he added.

L-R: Citiserve Chief Operating Officer, Jubril Salaudeen; Chief Commercial Officer, Tobi Osibodu; Citiserve Network Entrepreneur, Ajumobi Adeleye and Citiserve Head of Retail Services, Akinwale Adejuwon at the Citiserve Agent Congress held in Lagos...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

NOVEMBER 2018 Money Supply (M3)

31,794,803.44

-- CBN Bills Held by Money Holding Sectors

6,333,064.28

Money Supply (M2)

25,461,739.17

-- Quasi Money

14,773,076.98

-- Narrow Money (M1)

10,688,662.18

---- Currency Outside Banks

1,711,763.59

---- Demand Deposits

8,976,898.59

Net Foreign Assets (NFA)

18,990,400.78

Net Domestic Assets(NDA)

12,804,402.66

-- Net Domestic Credit (NDC)

26,062,986.22

---- Credit to Government (Net)

2,980,229.66

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

7,093,619.43

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

-4,144,571.43

---- Credit to Private Sector (CPS)

23,082,756.56

--Other Assets Net

13,258,583.57

Reserve Money (Base Money

6,811,192.37

--Currency in Circulation

2,100,129.91

--Banks Reserves

4,366,259.05

Ëž Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE AS ATTHURSDAY, 9 MAY 2019

The price of OPEC basket of fourteen crudes stood at $69.66 a barrel on Thursday, compared with $69.88 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

37

T H I S D AY Ëž ÍŻÍąË&#x153; Ͱ͎ͯ͡

MARKET NEWS

Unilever Nigeria Shareholders Approve N8.6 Billion Dividend Goddy Egene Shareholders of Unilever Nigeria Plc last Thursday commended the companyâ&#x20AC;&#x2122;s board and management for their commitment to growth as the company recommended dividend of N8.62 billion for the year ended December 31, 2018.

The dividend, which translates to 150 kobo per share, was higher than the 50 kobo paid the previous year.

The elated shareholders approved the dividend payout even as they charged the management to remain focused despite the challenging economic landscape in Nigeria.

Addressing the shareholders at the 43rd annual general meeting (AGM) in Lagos, the Chairman of the Board of Directors of Unilever, His Royal Majesty Nnaemeka Achebe, said the company has again demonstrated business resilience.

P R I C E S MAIN BOARD

F O R DEALS

According to him, notwithstanding the pressure and disruption in the business operating landscape, Unilever Nigeria Plcâ&#x20AC;&#x2122;s fundamentals held strongin2018. â&#x20AC;&#x153;Our companyâ&#x20AC;&#x2122;s performance attests to the durability and resilience of the Unilever brand. The company made good strides in its growth strategy with results showing decent performance on key financial and performance

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

indices. â&#x20AC;&#x153;Turnover from continuing operations grew by nine per cent from N85 billion in 2017 to N92 billion 2018.

Earnings per share increased by three per cent from N1.78 per share in 2017 to N1.84 per share in 2018. Profit after tax from continuing operations increased by 29 per cent from N7.1 billion in 2017 to N9.1 billion in 2018. Clearly, the results are, once again,

T R A D E D MAIN BOARD

A S

a reflection of our Companyâ&#x20AC;&#x2122;s entrenched values of creating a brighter future for our citizens through brands that make them feel good, look good and get more out of life,â&#x20AC;? he said.

He disclosed that in 2018, company stepped up investments behind its brands, with significant spend on innovations and continued digitisation of its operations. â&#x20AC;&#x153;Our company raised its level of investment in manufacturing capacity,

O F

upgraded its plant for better and higher capacity, and drove efficiencies in all aspects of the business. The resultant effect was over heads cost reduction, streamlined administrative costs and return on marketing investments which enabled us to invest in more productive areas.

The board remains confident that our companyâ&#x20AC;&#x2122;s strategy is well placed to capture current and emerging growth opportunities,â&#x20AC;? he said.

1 0 / 0 5 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ MONDAY, MAY 13, 2019

38

7 R S 7 U D G H V E \ 9 R O X P H

7 R S * D L Q H U V T ic k er

P ric e

P ric e C hg %

SOVR EN IN S

0.25

8.7%

SOVR EN IN S

44.5

8.7%

N EM

2.50

7.8%

ST ER LN B A N K

24.7

-0.7%

P R EST IGE

T ic k er

P ric e C hg %

0.50

6.4%

A C C ESS

21.0

1.4%

ST A N B IC

46.00

5.3%

Z EN IT H B A N K

16.6

0.0%

R OYA LEX

0.24

4.3%

T R A N SC OR P

16.4

0.0%

OA N D O

4.80

3.2%

FB NH

16.4

-0.7%

UC A P

2.56

3.2%

J A P A ULOIL

8.1

-3.7%

GUIN N ESS

51.50

3.0%

CHA M S

7.7

-9.1%

UA C N

6.95

3.0%

UB A

7.3

-1.5%

ET I

10.30

2.0%

F ID ELIT YB K

6.9

-0.5%

7 R S 7 U D G H V E \ 9 D O X H

7 R S / R V H U V P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

0.27

-10.0%

Z EN IT H B A N K

332.8

0.0%

522.00

-10.0%

A C C ESS

147.5

1.4%

A F R IP R UD

3.54

-9.9%

NB

132.9

0.0%

VER IT A SKA P

0.20

-9.1%

FB NH

117.8

-0.7%

T ic k er A B CTRA NS SEP LA T

Afrinvest West Africa Limited

Vo lum e

N EIM ET H

0.50

-9.1%

D A N GC EM

101.8

0.0%

CHA M S

0.40

-9.1%

GUA R A N T Y

76.1

-0.9%

LEA R N A F R C A

1.22

-9.0%

ST ER LN B A N K

65.8

-0.7%

M B EN EF IT

0.21

-8.7%

UB A

47.7

-1.5%

LIN KA SSUR E

0.44

-8.3%

ST A N B IC

46.5

5.3%

GOLD IN SUR E

0.23

-8.0%

GUIN N ESS

40.7

3.0%

Brokerage

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romo-

Adedoyin Allen |

Oluwarotimi Ashimi | oashimi@afrinvest.comJolomi Odonghanro |

39

MONDAY, MAY 13, 2019 ˾ T H I S D AY

MARKET NEWS

SUNU Assurances MD Reassures Stakeholders of Better Performance Goddy Egene

The Managing Director of SUNU Assurances Nigeria Plc, Mr. Samuel Ogbodu, has reassured stakeholders of the commitment to keep providing products and better services on which SUNU Group has built its reputation across Africa.

Ogbodu gave the assurance at the company’s annual general

meeting (AGM) held in Lagos, where the shareholders were briefed on the company’s activities over the past year, which largely involved its rebranding efforts.

The company changed its name from Equity Assurance Plc to SUNU Assurances Nigeria Plc with due approval from the shareholders and regulators.

The shareholders ratified the appointment of Ogbodu as the

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

MD and that of Mr. Adeleke Emmanuel Hassan as Executive Director, Technical & Operations.

This, according to the company, is in line with its vision of growing its business consistently over the next five years to become one of Nigeria’s 10 largest underwriting companies.

Ogbodu explained that the company’s rebranding activities involved both internal and

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 09May-2019, unless otherwise stated.

external communication strategies to inform stakeholders and the general public of the change of name and to raise awareness of the introduction of the SUNU Group’s presence in Nigeria.

The rebranding not only included a change in the company’s aesthetics but also in critical service functions and delivery as the company is focused on leveraging

technology to provide quality insurance offerings to our various customers reflecting our pan African presence as a full-fledged member of the SUNU Group.

“The rebranding is strategic and designed to align with the exemplary brand of our parent company (SUNU Group). It is worthy to note that SUNU Group is a foremost PanAfrican Insurance Group with

asset base of over $623 million and operations in 14 African countries and 23 office locations spanning West and Central Africa.

SUNU Assurances Nigeria Plc. is therefore positioned to leverage on SUNU Group’s vast network of knowledge capital, financial strength and technical resources in our quest to differentiate its offerings and service standards in the Nigerian marketplace, he 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 0.88 4.38% ACAP Income Funds 0.63 0.63 12.85% 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 13.21% AIICO Balanced Fund 2.29 2.31 2.97% 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 15.95 16.43 -3.86% ARM Discovery Fund 350.30 360.86 -1.78% ARM Ethical Fund 29.02 29.90 2.77% ARM Money Market Fund 1.00 1.00 13.14% 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 98.23 98.92 -2.93% AXA Mansard Money Market Fund 1.00 1.00 12.66% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.86% Paramount Equity Fund 12.01 12.11 1.69% Women's Investment Fund 105.96 106.49 2.26% 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 N/A N/A N/A Cordros Milestone Fund 2023 N/A N/A N/A Cordros Milestone Fund 2028 N/A N/A N/A 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 N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 12.46% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.16% 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 1,180.41 1,181.23 5.79% FBN Heritage Fund 143.80 144.79 0.71% FBN Money Market Fund 100.00 100.00 13.29% FBN Nigeria Eurobond (USD) Fund - Institutional 0.00 0.00 -100.00% FBN Nigeria Eurobond (USD) Fund - Retail 0.00 0.00 -100.00% FBN Nigeria Smart Beta Equity Fund 143.80 145.86 -4.13% 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 Money Market Fund 1.00 1.00 11.28% Legacy Debt Fund 3.38 3.38 4.31% Legacy Equity Fund 1.15 1.17 -5.79% Legacy USD Bond Fund 1.05 1.05 1.68% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 12.50% Nigeria Entertainment Fund 109.27 109.58 1.61% 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 12.41% Vantage Balanced Fund 2.16 2.18 0.39% Vantage Guaranteed Income Fund 1.00 1.00 15.02% Kedari Investment Fund (KIF) 129.76 129.85 3.83%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.16 1.18 1.45% Lotus Halal Fixed Income Fund 1,093.42 1,093.42 4.77% 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 10.93 10.99 -5.16% Meristem Money Market Fund 10.00 10.00 11.74% 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 1.26 1.29 3.02% PACAM Fixed Income Fund 11.37 11.43 2.21% PACAM Money Market Fund 10.00 10.00 12.92% 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 121.48 121.97 0.59% 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 5.04% 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 2,356.66 2,369.29 1.82% Stanbic IBTC Bond Fund 199.93 199.93 5.15% Stanbic IBTC Ethical Fund 0.92 0.94 -2.11% Stanbic IBTC Guaranteed Investment Fund 253.48 253.51 4.58% Stanbic IBTC Iman Fund 159.21 160.93 -2.43% Stanbic IBTC Money Market Fund 100.00 100.00 12.67% Stanbic IBTC Nigerian Equity Fund 8,162.58 8,254.76 -3.88% Stanbic IBTC Dollar Fund (USD) 1.11 1.11 2.26% 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 1.18 1.19 -1.34% United Capital Bond Fund 1.68 1.68 5.34% United Capital Equity Fund 0.69 0.70 -2.62% United Capital Money Market Fund 1.00 1.00 13.00% United Capital Eurobond Fund 110.31 110.31 2.85% United Capital Wealth for Women Fund 1.12 1.12 2.53% 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 10.36 10.53 -1.17% Zenith Ethical Fund 11.93 12.07 -0.27% Zenith Income Fund 21.74 21.74 12.71% Zenith Money Market Fund 1.00 1.00 12.38%

REITS NAV Per Share

Yield / T-Rtn

N/A 120.54 52.31

N/A 2.39% 1.10%

Bid Price

Offer Price

Yield / T-Rtn

9.80 103.15 83.61

9.90 105.34 85.15

-7.05% -12.07% -5.71%

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

3.69 6.65 13.56 10.87 157.11

3.73 6.73 13.66 11.07 159.11

-7.65% -12.70% -9.24% -11.98% 9.39%

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.

40

T H I S D AY Ëž ÍŻÍąË&#x153; Ͱ͎ͯ͡

CITYSTRINGS

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

A participant at the iCreate Festival using a Bosch Power Tool

Creating Awareness for Festival of Skills Ojo Maduekwe writes on how a leading global supplier of technology and services, Bosch Nigeria, has partnered iCreate Festival to organise training on various vocational skills for the young and talented who are aged between 18 to 28

A

typical conversation on skills acquisition normally centres around the numerous empowerment programmes that has long been a fad for the three tiers of governments and their agencies, so much so that people consider public agencies as the main drivers of skills acquisition in Nigeria.

It doesnâ&#x20AC;&#x2122;t help that almost every new government that assumes power sets up skills acquisition centres as part of their agenda to tackle unemployment and youth restiveness. However, there are some private sector organisations that also invest in human capacity building through this means.

Leading global supplier of technology and services, Bosch Nigeria, has partnered the organisers of the iCreate Festival in an event that has been tagged â&#x20AC;&#x2DC;Africaâ&#x20AC;&#x2122;s Olympics of Skillsâ&#x20AC;&#x2122;. Open to the young and skilled aged between 18 to 28, the iCreate Festival seeks to create awareness to various vocational skills training such as carpentry, automobile mechanics, solar or electrical installations, welding and fabrication, garment making industry, shoe and leatherworks, art, app development, graphic and web design, robotics and cooking, to name a few.

Bosch Nigeria will be focused on the construction segment of the 2019 festival where its Power Tools will be the preferred tools used by the competitors in the participating segments. Additionally, Bosch will be supporting with technical expertise and training, focusing on safety.

The festival is in three stages, starting with the Regional Technical and Vocational Skills competitions in Kaduna, which already held on April 26 and 27, to be followed by another regional competition in Enugu from July 19 to 20. The finals will take place in Lagos on December 4 and 5. All three events will feature exhibitions, entertainment and panel discussions around youth empowerment, and Bosch intends to participate in the entire event.

In a press release sent to THISDAY, â&#x20AC;&#x153;@The skill competition is an innovative strategy to curb the high youth unemployment, promote skill excellence and prepare youths for jobs of the future. By directing attention on vocational skills, iCreate Africa is addressing the societal perspective affecting the acceptance of technical skill trades while upgrading the value of skilled professions,â&#x20AC;? according to the organisers of the festival.

During last yearâ&#x20AC;&#x2122;s event, 45 winners from 14 skill trades received cash prizes, equipment, endorsement deals from brands, internship and job placements, training and mentoring. The 14 Gold medallists were crowned as iCreate Skill Champions is representing each skill-trade and are billed to attend the 2019 World Skills Competition in Kazan, Russia in August.

Bosch exhibition booth at the iCreate Festival Bosch is an arvid promoter of young, skilled and talented people, especially in Africa where it operates in 13 countries within the continent.

As part of its Corporate Social Responsibility, the company is part of a group of about 20 companies offering scholarships to African junior executives that allows them spend a year in Germany completing a professional training programme. The initiative is called â&#x20AC;&#x2DC;Afrika Kommt!â&#x20AC;&#x2122; and Bosch has been involved since 2008 with more than 123 young Africans haven benefited so far.

In 2015, Bosch in South Africa invested in an outreach robotics program that provided the opportunity for children from various backgrounds to study Robotics, resulting in two teams qualifying and competing in the 2016 World Robotics Olympiad. Since then, Bosch continues to foster the program in bringing robotics to scholars in outreach communities.

Judging by the opinion of experts on the importance of skills acquisition as an effective means to tackle both unemployment and youth restiveness, one can understand the renewed interest in the topic by not just the public sector but also private organisations. The successes recorded by notable public agencies such as the Niger Delta Development Commission (NDDC) and Industrial Training Fund (ITF) have made the subject interesting.

Other empowerment interventions past and present that have made indelible mark and become popular overtime with Nigerians are

the National Directorate of Employment (NDE), National Poverty Eradication Programme (NAPEP), Small and Medium Enterprises Development Agencies (SMEDAN), Subsidy Reinvestment and Empowerment Programme (SURE-P), Youth Enterprise with Innovation in Nigeria (YOUWIN) and N-Power.

In just two years, over 450,000 Nigerian youths have been empowered by the ITF in skills training, with the aim of making them self-reliant, according to Nigeriaâ&#x20AC;&#x2122;s Vice President, Yemi Osinbajo, who was speaking at a recent graduation ceremony of over 11,000 Nigerian youths from the National Industrial Skills Development Programme (NISDP) of the ITF. Trained in welding and fabrication, plumbing and pipefitting, tailoring, aluminium, tilling, Plaster of Paris (POP) as well as photography, according to the ITF Director General, Joseph Hari, start-up kits were given the youths to complement their training. â&#x20AC;&#x153;Our monitoring and evaluation template indicates that where training occurs without the accompanying empowerment tools, the results become less impactful,â&#x20AC;? he said.

In 2018, aside Bosch, other partners for the iCreate Festival included such notable brands like the ITF, GIZ, Sterling Bank Plc, Julius Berger Nig. Ltd, Mafita UKAid, the German Embassy Abuja, and Trace. There were also others that played very strategic roles as major sponsors of the festival.

Aside the ITF, the NDDC is also doing a good

job with its involvement in skills acquisitions, especially with the segment of the population itâ&#x20AC;&#x2122;s affecting. Towards the end of the first quarter of this year, the NDDC trained persons living with disabilities in Edo state. The two weeks skills acquisition training was aimed at reducing poverty among Nigeriaâ&#x20AC;&#x2122;s physically challenged.

According to the state chairman of the Joint National Assembly of Persons With Disabilities (JONAPWD), Henry Ebose, â&#x20AC;&#x153;For the past two weeks, we have learnt different skills that most of us did not know before now and we have gathered adequate knowledge to enable us earn a living. We commend the NDDC for the initiative aimed eradicating poverty among the physically challenged persons in Edo State,â&#x20AC;? Ebose said.

With a youth unemployment rate of 55.4 per cent as at Q3 of 2018, Nigeria is in dire need of effective skills acquisition programmes to bridge the unemployment gap, and curb young Nigerians involvement in crime. This is where ideas like iCreate Festival comes in, and also the fundamental reason why Bosch chose to collaborate with the organisers - to enhance participants lives.

Also, initiatives like the iCreate Festival fosters healthy competition, which in turn leads to a drive for excellence. When you consider the fact that several organisations do not lack unskilled manpower so much as they lack skilled talents with hunger for excellence, then youâ&#x20AC;&#x2122;ll appreciate the culture of excellence that initiatives like the iCreate Festival is creating.

41

T H I S D AY Ëž ÍŻÍąË&#x153; Ͱ͎ͯ͡

CRIME&SECURITY

The Chief of Army StaďŹ&#x20AC;(COAS), Lieutenant General Tukur Buratai (second left); the Chief of Logistics, Nigerian Army headquarters, Major General Enobong Udoh (fourth left); and the General OďŹ&#x192;cer Commanding, 81 Division, Major General Musa Yusuf (ďŹ fth left) inaugurating some projects in Lagos

Some of the buildings inaugurated by the COAS in Lagos

Insurgency: Army Cautions Media on UnveriďŹ ed Reports ...Inaugurates projects in Lagos The Nigerian Army (NA) has cautioned media houses, journalists and social media platform owners to shun unverified reports especially when reporting activities on insurgency.

The Chief of Army Staff(COAS), Lieutenant General Tukur Buratai, who harped on this during his recent inauguration and inspection of some projects in Lagos, said such information should be verified before disseminating to the public for the sake of national interest.

Buratai was in Lagos to inaugurate some buildings for the ranks of corporals and below at the Bonny Camp. He also inspected the permanent site for the Nigerian Army School of Logistics in Ojo. He also proceeded to the 68 Ni-

gerian Army Reference Hospital in Yaba where he inaugurated the newly reconstructed hospital which had an operating theatre with well equipped hospital facilities.

The COAS inspected the ongoing projects at the Ikeja Cantonment, while also inaugurating the Nigerian Army Post Exchange.

According to Buratai, "We call on the media to be very cautious and careful in disseminating informations without proper verification.â&#x20AC;?

He said such information, sometimes wrongly affect the lives of the gallant soldiers deployed for operations, adding that it is also detrimental to the country's national security.

"The insurgency we are facing is something that we will continue

to address as they appear and manifest in different forms and shapes," he said.

On the inauguration and inspection of the projects within the barracks, Buratai said he was glad that the welfare of officers and men were being taken care of.

He added that he was happy to boost their morale, explaining that morale was very helpful in times of war. He assured the officers and men that their welfare would be attended to at all times.

While commending the efforts of the commanders of every unit in the army for looking after the welfare of their men under them, Buratai enjoined them not to hesitate to call on the headquarters for assistance regarding welfare.

"We will not stop addressing the

Kidnappers After my Wife, Children Again, Man Cries Out Kayode Fasua A middle-aged man, Olanrewaju Gbadamosi, who parted with N15 million in 2013 when his wife and children were kidnapped, is again in the eye of the storm.

Gbadamosi, in an interview with our correspondent and through an affidavit he deposed to, is crying out to the authorities to rescue him this time round, as the same kidnappers are threatening to repeat the abduction of six years ago.

In the latest episode of his trajectory, the Lagos-based businessman said his traducers had got wind of his plan to travel to Canada along with members of his family on holiday, soon, and are now plotting to kidnap his family members or collect ransom to prevent the action.

Recalling his 2013 ordeal, a distraught Gbadamosi said, â&#x20AC;&#x153;On August 12 2013, a man called me with a hidden number and introduced himself as Prince and leader of a professional kidnap-

persâ&#x20AC;&#x2122; group. â&#x20AC;&#x153;He said his gang was aware of the fact that I sold a family land worth N200 million and that the money had been paid into my personal account.â&#x20AC;?

Narrating the story further, Gbadamosi who lives in Lagos said, â&#x20AC;&#x153;The kidnappers said they wanted N10 million out of the money and that I should drop the money at Ejigbo NNPC Depot Junction at 1.am the following day, Tuesday August 13, 2013. â&#x20AC;&#x153;They said I should not inform the police in my interest and that failing to comply with their instruction will lead to the kidnapping of the entire members of my family. But I ignored them.â&#x20AC;?

The agonised father of three further related that he ignored the kidnappers to his own peril as his wife and children were kidnapped on August 13, 2013 on the Lagos-Ibadan expressway, while travelling to Ibadan to attend the final burial ceremony for a deceased family member.

The incident, he recalled, took

place around 7.30pm.

After so much haggling and agonising moments, Gbadamosi said he parted with N15 million as ransom to secure the release of his wife and three children.

This time again, however, Gbadamosi said the same Prince had called, telling him the fact that he would soon travel to Canada along with his entire family members on holiday, and that he and his gang members would thwart the move, except he pays a whooping sum of N15 million as ransom, to escape the planned kidnap. â&#x20AC;&#x153;They said I should drop a ransom at Awori Bus Stop along Lagos Abeokuta Expressway which I am yet to carry out.

They also said if I refuse to bring the said amount, their next line of action will be to kidnap my entire nuclear family.â&#x20AC;?

Gbadamosi, who said the case was already with the police, appealed to the authorities to see his situation as urgent, and bail him out of the current quagmire.

welfare challenges of officers and men with their families. We are still addressing and readddtessing the dilapidated structures in our command schools," he said.

Buratai said all these were part of his agenda to have a professionally

responsive Nigerian Army in the discharge of its constitutional roles.

Buratai also commended the General Officer Commanding, 81 Division, Major General Musa Yusuf, for keeping his Area of Responsibility (AOR) in peace.

IGP Taskforce Arrests Nine Ilegal Bunkering Suspects in Delta r %FTUSPZT UXP NBKPS JMMFHBM SFĂ OFSJFT Sylvester Idowu in Warri Operatives of the IGP Special Task Force on Pipeline Vandalism attached to the PPMC depot in Warri, Delta State, have arrested nine persons in connection with illegal bunkering activities during the raid on two notorious locations within its coverage areas.

The locations comprising Oteghele and Ugbodede communities both in Warri South Local Government Area, have been known to be harbouring large expanse of illegal oil bunkering activities, especially, the locally-refined AGO otherwise known as diesel.

Also destroyed at both locations were over 50 illegal refineries which had refined about 15,000 litres of diesel about to be loaded into wooden boats to be delivered to potential buyers.

Briefing newsmen on the arrest in Warri, the Commander, IGP Special Task Force, Anti- Pipeline Vandalism on Petroleum and Illegal Bunkering, SP Mohammed El-Yakubu, said the arrest was made possible based on the intelligence gathering efforts of his officers and men.

He noted that the command decided to invade the locations on Thursday, April 25, 2019, after it had been established that it was one of the busiest days in both camps.

He disclosed that while the Ugbodede community camp harboured 13 illegal refineries,

the Oteghele community end controlled the largest with about 37 refineries operating at full capacity in the area.

The commander who disclosed that nine suspects arrested were still be detained for further interrogations, said they would soon be charged to court for prosecution after investigation had been concluded, while the seized product would be handed over to the appropriate agency.

According to him, â&#x20AC;&#x153;this breakthrough was made possible through the cooperation of some good citizens who provided the information that led to the arrests. â&#x20AC;&#x153;I want to sincerely thank these people and urge the members of the public, particularly those resident in the places where these criminals acts were being perpetrated to feel free to come and give us useful information that could lead to more arrest of these criminals.â&#x20AC;?

SP Yakubu, also admonished those behind this dastardly acts to begin to have a change of mind about the illegal oil business as the taskforce was more than ever determined to come after them. â&#x20AC;&#x153;The culprits should desist from these acts because beside the renewed efforts of my men and officers to rid the area of the criminal act, the business itself is very dangerous as the environment they are exposed in these camps on daily basis is injurious to their health", he said.

T H I S D AY ˾ MONDAY MAY 13, 2019

42

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 10th-MAY 2019 This publication: Mandated by the Central Bank of Nigeria (CBN) BANK: ECOBANK NIGERIA LIMITED SN CUSTOMER

ITEM OF IMPORT

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157

PURCHASE OF RAW MATERIAL IMPORTATION OF CALCIUM CARBIDE PURCHASE OF RAW MATERIALS INDUSTRIAL RAW MATERIALS- LIQUID PARAFFIN (RILOIL 015) INDUSTRIAL RAW MATERIALS - POLYOL (PPG3601) INDUSTRIAL RAW MATERIALS - STYRENE ACRYLONITRILE (SAN) COPOLYMER BAJAJ BOXER - BM100CC MOTORCYCLE IN CKD PACKED CONDITION IMPORTATION OF INDUSTRIAL RAW MATERIALS- SYNTHETIC TOW OF ACRYLIC FOR SPINNING KENOP 228.5, AMCARD 10, CLAVULIST 228.5, CLAVULIST 100, MISOPROSTOL 200MCG. TABLETS SOLAR STORAGE BATTERY RAW MATERIAL FOR MANUFACTURING: HOT ROLLED STEEL HOT ROLLED STEEL CHANNELS SOLAR BATTERY WIRELESS COMMUNICATION APPARATUS TO BE USED IN LTE WIDE AREA NETWORK INDUSTRIAL RAW MATERIALS - PETROLEUM JELLY (MULTI JELL PREMIUM P09) BAJAJ BOXER - BM100CC MOTORCYCLE IN CKD PACKED CONDITION RAW MATERIAL FOR MANUFACTURING: HOT ROLLED STEEL BEAMS PURCHASE OF WASHING MACHINES INDUSTRIAL RAW MATERIALS - MIDDLE CHROME, LEMON CHROME, SCARLET CHROME BAJAJ BOXER - BM100CC MOTORCYCLE IN CKD PACKED CONDITION MICROWAVE OVEN,STEP DOWN TRANSFORMER,AUTOMATIC VOLTAGE REGULATOR,AC MOTOR SOLAR STORAGE BATTERY FULL CREAM MILK POWDER GAS FLUSHED 28.1% INS/VIT KG 25KG BAG INDUSTRIAL RAW MATERIALS - LIQUID PARAFFIN INDUSTRIAL RAW MATERIALS - CAUSTIC SODA PEARLS INDUSTRIAL RAW MATERIALS - MENTHOL CRYSTAL INDUSTRIAL RAW MATERIALS - PETROLEUM JELLY (GWS 081) RAW MATERIAL FOR MANUFACTURING HOT ROLLED STEEL IMPORTATION OF GAZPROMNEFT LUBRICANT OIL RAW MATERIAL FOR MANUFACTURING:HOT ROLLED STEEL BEAMS 6000 MT OF LIQUEFIED PETROLEUM GAS MEETING NIGERIAN DPR SPECIFICATION BAJAJ RE 4S 198.88CC AUTORICKSHAW IN CKD PACKED CONDITION INDUSTRIAL RAW MATERIALS - PETROLEUM JELLY INDUSTRIAL RAW MATERIALS - PETROLEUM JELLY IMPORT OF INDUSTRIAL RAW MATERIAL - POLYPROPYLENE HOMMPOLYMER RAW MATERIAL- SKIM MILK POWDER IN 25KG BAGS Machinery For Storage And Re-Production Of Electric Current (Static Converter) Genus Brand RAW MATERIAL FOR MANUFACTURING:HOT ROLLED STEEL BEAMS PURCHASE OF RAW MATERIAL INDUSTRIAL RAW MATERIALS - PETROLEUM JELLY BAJAJ RE 4S 198.88CC AUTORICKSHAW IN CKD PACKED CONDITION IMPORTATION OF RAW MATERIALS PAYMENT FOR MOTORCYCLE SPAREPARTS RAW MATERIAL FOR MANUFACTURING:HOT ROLLED STEEL CHANNELS PAYMENT OF VEHICLE PARTS RAW MATERIAL FOR MANUFACTURING: HOT ROLLED STEEL BEAMS 11A SAPARA WILLIAMS STREET IKEJA INDUSTRIAL ESTATE, IKEJA, LAGOS, IKEJA, LAGOS FOR PURCHASE OF ANNCRYL BRAIDED & COATED PGA(ABSORABLE SURGICAL SUTURE USP SYNTHETIC) GENERATING SETS IN CKD FORM GENERATING SETS IN CKD FORM BEING PAYMENT FOR LPG CYLINDER, CYLINDER HANDLE, CYLINDER BASE, LPG BURNER, LPG HOSE ETC AGRICULTURAL HERBICIDES AGRICULTURAL HERBICIDE: SLASHER 1L/5L GENERATING SETS IN CKD FORM GENERATING SETS IN CKD FORM GENERATING SETS IN CKD FORM GENERATING SETS IN CKD FORM GENERATING SET IN CKD FORM AGRICULTURAL HERBICIDES GENERATING SETS IN CKD FORM AGRICULTURAL HERBICIDE- STRIKER PHARMACEUTICAL FORMULATIONS IMPORTATION OF PETROLEUM PRODUCTS AGRICULTURAL HERBICIDE- ATRAZINE 1L AGRICULTURAL HERBICIDE- STRIKER AGRICULTURAL HERBICIDE- SLASHER PHARMACEUTICAL EQUIPMENT WITH ACCESSORIES 31250 METRIC TONNES OF RAW SUGAR IN BULK RAW MATERIAL FOR MANUFACTURING:HOT ROLLED STEEL MACHINERY AND EQUIPMENT FOR EDO CEMENT PLANT - COMBINED PROCESS EQUIPMENT RAW MATERIAL FOR MANUFACTURING:HOT ROLLED STEEL MACHINERY AND EQUIPMENT FOR SUGAR REFINERY IMPORTATION OF 7,004 BAGS OF DRIED SEA PRODUCTS FOR ANIMAL FEEDS VIA LC HOT ROLLED STEEL SHEETS MILLING WHEAT 15,000MT BRAZILIAN CANE RAW SUGAR GRANULES TO PAY DOWN ON ECOBANK CONFIRMATION LINE USED FOR IMPORTATION OF 20,000MT OF AGO FOR TULCAN ENERGY RESOURCES LIMITED IMPORT OF INDUSTRIAL RAW MATERIAL - POLYOL IMPORT OF INDUSTRIAL RAW MATERIAL - BOND PAPER IMPORT OF INDUSTRIAL RAW MATERIAL - METHANOL IMPORT OF INDUSTRIAL RAW MATERIAL - TOLUENE DIISOCYANATE IMPORT OF INDUSTRIAL RAW MATERIAL - METHYLENE CHLORIDE BATTERIES C & D SHC 12-200FT IMPORT OF INDUSTRIAL RAW MATERIAL - LDPE INDUSTRIAL RAW MATERIAL HOT ROLLED STEEL SHEETS ETHYL ACETATE BASEOIL AS PER PFI MB/040518 SALE TO CBN EDUCATION EDUCATION EDUCATION EDUCATION EDUCATION UMBRELLA FOOTBALL SHINE ROLLAR CHAIN AUTO INJECTOR FOOTBALL SHINE TILES CUTTNG MACHINE UMBRELLA TIGER HEAD BRAND PAPER JACKET DRY BATTERY TIGER HEAD BRAND PAPER JACKET DRY BATTERY TIGER HEAD BRAND PAPER JACKET DRY BATTERY SEWING MACHINE NEEDLE DRILL MACHINE SAFETY DOOR & CERAMIC WATER CLOSET TIGER HEAD BRAND PAPER JACKET DRY BATTERY UNCOATED KRAFT PAPER AND BOARD TIGER HEAD BRAND PAPER JACKET DRY BATTERY ROLLAR CHAIN UMBRELLA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BASEOIL AS PER PFI MB/040518 TOLUENE BAJAJ RE 4S 198.88CC AUTORICKSHAW IN CKD PACKED CONDITION ETHYL ACETATE NEW KINGLONG VEHICLES PURCHASE OF RAW MATERIALS POULTRY BATTERY CAGES RAW MATERIAL FOR MANUFACTURING HOT ROLLED STEEL POULTRY BATTERY CAGES OFFSHORE CHARGE RAW MATERIAL FOR MANUFACTURING: HOT ROLLED STEEL BEAMS AND HOT ROLLED STEEL ANGLES RAW MATERIAL FOR MANUFACTURING:HOT ROLLED STEEL BEAMS POULTRY BATTERY CAGES RAW MATERIAL- SKIM MILK POWDER IN 25KG BAGS OFFSHORE CHARGE PASSENGER LIFT SPARE PARTS FOR IMPORTATION OF ANIMAL FEED OFFSHORE CHARGE OFFSHORE CHARGE HOT ROLLED STEEL (SHEETS) RAW MATERIAL FOR MANUFACTURING HOT ROLLED STEEL RAW MATERIAL FOR MANUFACTURING HOT ROLLED STEEL OFFSHORE CHARGE EDUCATION EDUCATION EDUCATION FOOTBALL SHINE FIRST AID BOXES

ANXIN INDUSTRIAL TECHNOLOGY NIGERIA CHAB INVESTMENT COMPANY LIMITED UMOBI FARMS AND FOOD PROCESSING LIMITED RAGI INDUSTRIES LIMITED MULTI-CHEM INDUSTRIES LTD MULTI-CHEM INDUSTRIES LTD DAG INDUSTRIES NIGERIA LTD HAFFAR INDUSTRIAL COMPANY LIMITED AQUATIX PHARMACEUTICALS LIMITED RAGI INDUSTRIES LIMITED BIMVENUS MULTIPURPOSE CONCEPT INTL SABASTEEL INDUSTRIAL NIG LTD RAGI INDUSTRIES LIMITED SPECTRANET LIMITED RAGI INDUSTRIES LIMITED DAG INDUSTRIES NIGERIA LTD IRON PRODUCTS INDUSTRIES LIMITED ZENDINET INTERNATIONAL CO LTD RAGI INDUSTRIES LIMITED DAG INDUSTRIES NIGERIA LTD A M N COMPANY LTD RAGI INDUSTRIES LIMITED EAGLE INDUSTRIES INTL CONCEPT LIMI MULTI-CHEM INDUSTRIES LTD MULTI-CHEM INDUSTRIES LTD RAGI INDUSTRIES LIMITED RAGI INDUSTRIES LIMITED SABASTEEL INDUSTRIAL NIG LTD ADIREJE WEST AFRICA LTD IRON PRODUCTS INDUSTRIES LIMITED STOCKGAP FUELS LTD DAG INDUSTRIES NIGERIA LTD MULTI-CHEM INDUSTRIES LTD RAGI INDUSTRIES LIMITED PENTAGON PLASTIC INDUSTRIES LIMITED ORIENTAL FOOD INDUSTRY LIMITED SIMBA INDUSTRIES LIMITED IRON PRODUCTS INDUSTRIES LIMITED ANXIN INDUSTRIAL TECHNOLOGY NIGERIA RAGI INDUSTRIES LIMITED DAG INDUSTRIES NIGERIA LTD TOMBO INDUSTRIES LIMITED FAPA COMPANY LIMITED IRON PRODUCTS INDUSTRIES LIMITED ASHOK LEYLAND NIGERIA LIMITED IRON PRODUCTS INDUSTRIES LIMITED DAG INDUSTRIES NIGERIA LTD ANNIE PHARMA LIMITED JMG LIMITED JMG LIMITED GERADISCO SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED JMG LIMITED JMG LIMITED JMG LIMITED JMG LIMITED JMG LIMITED SARO AGROSCIENCE LIMITED JMG LIMITED SARO AGROSCIENCE LIMITED KRISHAT PHARMA INDUSTRIES LIMITED PRUDENT ENERGY AND SERVICES LTD SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED KRISHAT PHARMA INDUSTRIES LIMITED BUA SUGAR REFINERY LIMITED SABASTEEL INDUSTRIAL NIG LTD EDO CEMENT COMPANY LIMITED SABASTEEL INDUSTRIAL NIG LTD BUA SUGAR REFINERY LIMITED INTEGRATED FISHERIES COMP LTD SABASTEEL INDUSTRIAL NIG LTD DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC WEST AFRICAN CERAMICS LIMITED TULCAN ENERGY RESOURCES LIMITED REGATTA INDUSTRIES LIMITED REGAL CHEM NIGERIA LIMITED REGATTA INDUSTRIES LIMITED REGATTA INDUSTRIES LIMITED REGATTA INDUSTRIES LIMITED IPI POWERTECH NIGERIA LIMITED REGAL CHEM NIGERIA LIMITED GBMT GLOBAL LIMITED OLYMPIC INKS LIMITED OVH ENERGY MARKETING LIMITED CENTRAL BANK OF NIGERIA THE OTUNBA ADEKUNLE OJORA OFR,CON,JP APERE EMBELEAKPO MR AND MRS NWAULUNE AUGUSTINE KAONY THE OTUNBA ADEKUNLE OJORA OFR,CON,JP MR AND MRS NWAULUNE AUGUSTINE KAONY ETEX TRUST LIMITED GREAT O K MARTINS STANDARD CONCEPT AZIKI AUTO VENTURES LIMITED AP LOGISTICS COMPANY HIS GRACE F V N AND COMPANY CLESTINE GLOBAL INDUSTRIAL CO LTD CHIMAG COLLINS NIGERIA ENTERPRISES MAXOFUONYE TRADING CO NIG CHITEX INTERBIZ NIG UBAGOZIE NIGERIA LIMITED GOLDEN FISH IMPEX LOGISTICS BONAVEN OVERSEAS LIMITED ULTRATRENDY NIGERIA LIMITED PRINCE CAMMY ENTERPRISES PEACE TARPAULIN CO LTD IHEATU AND COMPANY GLOBAL RESOURCES SUPER STALLION AUTO INDUSTRIES LTD BLESSED K.C ENTERPRISES NIG BEREDUGO OPEYEMI FATIMAH FAMORIYO OLUWAFEMI OPEYEMI FAMORIYO YEWANDE ADEBIMPE OSIME EBHODAGHE MICHAEL ADEGOKE ADEYINKA OLAYIWOLA BELLO KAYOE MMEREOLE BASIL ONYKAOZURU OSAGIE IVANA IVIE OSAGIE IVANA IVIE AKEEM SIDIKAT MOJIRAYO ALABI ELIZABETH MOBOLAJI IKIMALO FRANCISCA EBOSHOGUE ANYANWU FLORENCE ANYANWU FLORENCE AGBOOLA OLUSEYE TIMOTHY EMAH, HELEN OKON (DR) EMAH HELEN OVH ENERGY MARKETING LIMITED OLYMPIC INKS LIMITED DAG INDUSTRIES NIGERIA LTD OLYMPIC INKS LIMITED CFAO MOTORS NIGERIA LIMITED ANXIN INDUSTRIAL TECHNOLOGY NIGERIA ANIMAL CARE SERVICES KONSULT SABASTEEL INDUSTRIAL NIG LTD ANIMAL CARE SERVICES KONSULT TOP STEEL NIGERIA LIMITED IRON PRODUCTS INDUSTRIES LIMITED IRON PRODUCTS INDUSTRIES LIMITED ANIMAL CARE SERVICES KONSULT ORIENTAL FOOD INDUSTRY LIMITED TOP STEEL NIGERIA LIMITED CFAO MOTORS NIGERIA LIMITED NAKS INTERNATIONAL CO LTD JUBAILI AGROTEC LIMITED TOP STEEL NIGERIA LIMITED BIMVENUS MULTIPURPOSE CONCEPT INTL SABASTEEL INDUSTRIAL NIG LTD SABASTEEL INDUSTRIAL NIG LTD ECOBANK NIGERIA LIMITED UMARU ABDULMALIK AKINNOLA OLALEKAN AKINKOYA USORO ASUQUO DANIEL ENOS ROYAL RESOURCES NIG LTD EBI WEST GLOBAL SERVICES LIMITED

DATE OF USD EXFUND CHANGE SALE RATE 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19

345.50 342.50 343.50 342.50 342.50 342.50 343.00 342.50 343.50 342.50 342.50 342.50 342.50 345.50 342.50 343.00 342.50 345.50 342.50 343.00 345.50 342.50 342.50 342.50 342.50 342.50 342.50 342.50 347.50 342.50 345.00 343.00 342.50 342.50 342.50 343.00 342.50 342.50 345.50 342.50 343.00 343.50 345.50 342.50 343.50 342.50 343.00 348.00 341.50 341.50 341.00 341.50 341.50 341.50 341.50 341.50 341.50 341.50 341.50 341.50 340.50 340.50 340.50 340.50 340.50 340.50 340.50 340.00 339.00 340.00 339.00 340.00 339.00 339.00 338.50 338.50 333.50 332.50 331.50 331.50 331.50 331.50 331.50 331.50 331.50 332.00 357.00 361.50 357.00 360.00 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 361.00 357.00 306.95 357.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 358.50 358.50 358.50 358.50 358.50

AMOUNT

SN CUSTOMER

ITEM OF IMPORT

DATE OF USD EXFUND CHANGE SALE RATE

AMOUNT

17,000.00 23,000.00 9,000.00 52,000.00 180,000.00 80,000.00 124,000.00 2,000.00 4,000.00 49,000.00 302,000.00 70,000.00 54,000.00 15,000.00 20,000.00 140,000.00 309,000.00 15,000.00 13,000.00 111,000.00 9,000.00 14,000.00 60,000.00 68,000.00 37,000.00 78,000.00 38,000.00 127,000.00 5,000.00 110,000.00 287,000.00 28,000.00 42,000.00 40,000.00 27,000.00 34,000.00 100,000.00 24,000.00 13,000.00 36,000.00 79,000.00 19,000.00 12,000.00 86,000.00 1,000.00 442,000.00 115,000.00 9,000.00 41,009.23 35,000.00 11,000.00 58,000.00 144,000.00 42,000.00 10,000.00 18,000.00 33,000.00 10,000.00 59,000.00 35,733.04 366,000.00 36,000.00 25,000.00 63,000.00 200,000.00 300,000.00 34,000.00 4,000,000.00 54,000.00 1,503,000.00 60,000.00 2,000,000.00 57,000.00 318,000.00 112,000.00 1,100,000.00 1,000.00 1,200,000.00 85,000.00 101,000.00 23,000.00 53,000.00 31,000.00 77,000.00 67,000.00 110,000.00 99,291.98 976,501.50 800,000.00 3,635.40 6,357.76 7,566.76 14,483.70 7,566.76 20,000.00 20,000.00 20,000.00 10,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 10,550.00 20,000.00 20,000.00 2,613.80 4,000.00 4,000.00 2,000.00 2,200.00 3,000.00 600.00 2,310.81 1,685.85 2,100.00 4,000.00 4,000.00 100.00 2,135.41 4,000.00 4,000.00 4,000.00 1,000,000.00 78,030.05 30,000.00 15,620.02 1,024.06 152.11 168.88 2,490.58 168.68 407.23 3,058.34 825.56 211.88 322.45 88.52 170.06 60.00 98.31 225.00 1,401.66 627.39 407.04 28.27 3,950.10 1,500.00 14,628.04 20,000.00 20,000.00

158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313

ROLLAR CHAIN UMBRELLA NON ALLOYED ALUMINIUM PROFILE NON ALLOYED ALUMINIUM PROFILE SEWING MACHINE NEEDLE UMBRELLA DISCHARGE LAMP (B22 MODEL) COPPER STRIP (W.P.I.U.K BRAND) FOOTBALL SHINE COPPER STRIP (W.P.I.U.K BRAND) ROLLAR CHAIN UMBRELLA TIGER HEAD BRAND PAPER JACKET DRY BATTERY SPEAKER CLINDER LINEAR UMBRELLA PTA PTA PTA PTA PTA DIVIDEND AND CAPITAL REPATRIATION FEED SUPPLEMENT RAW MATERIAL FOR MANUFACTURING:HOT ROLLED STEEL BEAMS IMPORTATION OF INDUSTRIAL RAW MATERIALS- SYNTHETIC TOW OF ACRYLIC FOR SPINNING MOTOCYCLE AGRICULTURAL HERBICIDE ("SUNPHOSATE 360 SL" BRAND) LOW DENSITY POLYETHYLENE EXTRUSION QAPCO LOTRENE FE3000 Industrial Raw Materials: Paper For The Printing Industry- Wet Strength Brand {Uniset Extra} AC MOTORS RAW SUGAR IN BULK AC MOTOR TINOPAL CBS-X FOR IMPORTATION OF ANIMAL FEED Payment Of 4 Units Of Zhongtong Bus Model Lck6137h As Per Attached Proforma Invoice RAW MATERIAL FOR MANUFACTURING: HOT ROLLED STEEL 20,000MT OF GASOIL (AGO) AUTOMATIC VOLTAGE REGULATOR,STEP DOWN TRANSFORMER,YAM COOKER,MICROWAVE OVEN TO PAY DOWN ON ECOBANK CONFIRMATION LINE USED FOR IMPORTATION OF 10,000MT OF AGO FOR TULCAN ENERGY RESOURCES LIMITED PURCHASE OF AUTOMATIC VOLTAGE REGULATORS, SOLAR PANELS AND SANITARY PADS Plot 577Extension Iii Of Lagos Street 2/1, Kubwa Fct Abuja, Abuja, Municipal Area Council, FCT RAW MATERIAL FOR MANUFACTURING HOT ROLLED STEEL Machinery For Storage And Re-Production Of Electric Current (Static Converter) Genus Brand ODORIFEROUS SUBSTANCE: CHOCOLATE IPEA - ISO PROPYLAL ACHOHOL INDUSTRIAL RESIN FOR LAMINATION MACHINE ESSENTIAL INDUSTRIAL PARTS FOR FAN : HIGH POWER MOTOR: LEXUS BRAND TITANIUM DIOXIDE AGRICULTURAL INSECTICIDES RAW MATERIAL FOR MANUFACTURING:HOT ROLLED STEEL BEAMS AC MOTORS 20,000MT OF GASOIL (AGO) PIGMENT BLUE TO PAY DOWN ON ECOBANK CONFIRMATION LINE USED FOR IMPORTATION OF 10,000MT OF AGO FOR TULCAN ENERGY RESOURCES LIMITED AGRICULTURAL HERBICIDE ("SUNPHOSATE 360 SL" BRAND) HEAT SEALABLE WAX Machinery For Storage And Re-Production Of Electric Current (Static Converter) Genus Brand RAW MATERIAL FOR MANUFACTURING HOT ROLLED STEEL SALE TO CBN BAJAJ RE 4S 198.88CC AUTORICKSHAW IN CKD PACKED CONDITION 4000 MT OF LIQUEFIED PETROLEUM GAS MEETING NIGERIAN DPR SPECIFICATION 11A SAPARA WILLIAMS STREET IKEJA INDUSTRIAL ESTATE, IKEJA, LAGOS, IKEJA, LAGOS OFFSHORE CHARGE OFFSHORE CHARGE OFFSHORE CHARGE SALE TO CBN VALVE TIGER HEAD BRAND PAPER JACKET DRY BATTERY UMBRELLA TIGER HEAD BRAND PAPER JACKET DRY BATTERY ROLLAR CHAIN WALL CLOCK HAND TOOLS (HAMMER) HAND TOOLS (HAMMER) SOLDERING IRON WALL CLOCK PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA AGRICULTURAL HERBICIDE: SLASHER 1L/5L AGRICULTURAL HERBICIDE: SLASHER 1L/5L AGRICULTURAL HERBICIDE: SLASHER 1L/5L AGRICULTURAL HERBICIDE: SLASHER 1L/5L AGRICULTURAL HERBICIDE: SLASHER 1L/5L AGRICULTURAL HERBICIDES AGRICULTURAL HERBICIDES AGRICULTURAL HERBICIDES AGRICULTURAL HERBICIDES PASSENGER LIFT SPARE PARTS OFFSHORE CHARGE IMPORTATION OF NEW PORTABLE GASOLINE GENERATOR IMPORTATION OF NEW PORTABLE GASOLINE GENERATOR IMPORTATION OF NEW PORTABLE GASOLINE GENERATOR IMPORTATION OF NEW PORTABLE GASOLINE GENERATOR Three Wheelers (200Cc Motorized Tricycles Spark Ignition) In Ckd - Tvs Brand, Engine Type: 4 Stroke Petrol Version OFFSHORE CHARGE OFFSHORE CHARGE OFFSHORE CHARGE OFFSHORE CHARGE OFFSHORE CHARGE EDUCATION SOLAR PANELS TAPPING SCREWS PAPER BOARD 600MM X 400MM X 20MM BABY CARRIER STEEL DOOR FOOTBALL SHINE TIGER HEAD BRAND PAPER JACKET DRY BATTERY DRIVEAXLES UMBRELLA SPORTS EQUIPMENT HAND TOOLS (HAMMER) HYDROGENATED VEGETABLE FATS OF 15KG EACH UNCOATED KRAFT PAPER AND BOARD SUBMERSSIBLE PUMP BABY DIAPER INDUSTRIAL RAW MATERIAL SEWING MACHINE NEEDLE UNCOATED CRAFT PAPER WATER PUMP FOOTBALL SHINE FISHING NET UMBRELLA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA 15,000MT +/- 10% OF GASOIL BAJAJ RE 4S 198.88CC AUTORICKSHAW IN CKD PACKED CONDITION BAJAJ BOXER - BM100CC MOTORCYCLE IN CKD PACKED CONDITION BAJAJ BOXER - BM100CC MOTORCYCLE IN CKD PACKED CONDITION BAJAJ BOXER - BM100CC MOTORCYCLE IN CKD PACKED CONDITION AGRICULTURAL HERBICIDES AGRICULTURAL HERBICIDE: ROOTER 1KG/225GM AGRICULTURAL HERBICIDE: SLASHER 1L/5L PURCHASE OF RAW MATERIAL PASSENGER LIFT SPARE PARTS NEW KINGLONG VEHICLES

7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19

20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 3,950.10 1,800.00 4,000.00 4,000.00 3,000.00 22,843.35 38,159.66 10,598.62 7,000.00 158,800.00 50,000.00 74,800.00 93,856.00 60,000.00 70,100.00 56,167.40 39,600.00 245,700.00 100,000.00 21,307.81 656,030.91 8,776.10 200,000.00 100,028.10 20,000.00 43,600.00 119,475.00 6,350.00 51,504.00 71,400.00 21,503.50 20,000.00 280,000.00 55,400.00 46,231.60 790,946.01 23,696.00 407,725.85 50,000.00 49,572.00 30,525.00 19,475.00 1,261,985.64 63,830.00 27,156.65 461,170.00 885.66 294.50 59.29 463,758.49 20,000.00 20,000.00 20,000.00 17,764.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 4,000.00 3,993.98 3,993.98 3,993.98 4,000.00 3,000.00 2,000.00 4,000.00 2,500.00 4,000.00 4,000.00 126,000.00 189,000.00 126,000.00 174,960.00 408,240.00 354,816.00 307,120.00 58,800.00 465,960.96 10,034.90 175.44 565.30 628.16 101.98 923.74 585,693.41 13.56 301.21 119.29 48.88 42.97 2,249.60 20,000.00 20,000.00 2,800.00 20,000.00 13,873.00 20,000.00 9,568.00 20,000.00 20,000.00 5,000.00 20,000.00 20,000.00 6,326.88 10,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 4,000.00 4,000.00 4,000.00 4,000.00 1,959.60 1,500.00 3,997.58 4,000.00 3,919.20 4,000.00 4,000.00 4,000.00 1,300.00 4,000.00 9,033,899.85 125,000.00 288,081.26 444,748.74 267,170.00 125,905.60 259,854.40 264,240.00 608.18 559.56 1,131.87

ONYEMA BUSINESS RESOURCES EKESIOBI UZOR VENTURES DECENT TREASURE BUILDERS DOZIE ALUMINIUM SERVICES ALFANUMERIK SERVICES MIGHTMAN IN BATTLE GLOBAL LTD MULTILINE INTL COMPANY LTD G.N.OKENMUO AND BROTHERS NIG LTD VIVIAN OSCAR AKABUEZE NIGERIA LIMIT CHIWAWA COMPANY ENTERPRISES NES GLOBAL ENTERPRISES EILOO INDUSTRIAL AND COMMERCIAL COY KLIN EAGLE NIGERIA ENTERPRISES OCHIAKA INVESTMENT NIG LTD EDU T.F.INTERNATIONAL LIMITED BEN OKAFOR AND COMPANY WANIKO KATHERINE EBUN OCHARA GIDEON ARUMARI AMAKEZE EVELYN ESHO ADEFUNKE ABIMBOLA AJAYI ADEJUMOKE ANTHONIA ECOBANK TRANSNATIONAL INCORPORATED ANIMAL CARE SERVICES KONSULT IRON PRODUCTS INDUSTRIES LIMITED HAFFAR INDUSTRIAL COMPANY LIMITED OBOTICA INDUSTRIAL LTD WYNCA SUNSHINE AGRIC PRODUCT NIG LT SALIENT INDUSTRIES LIMITED STUDIO PRESS NIGERIA PLC OBOTICA INDUSTRIAL LTD BUA SUGAR REFINERY LIMITED OBOTICA INDUSTRIAL LTD EKO SUPREME RESOURCES NIGERIA LIMI NAKS INTERNATIONAL CO LTD IFEANYICHUKWU INDUSTRIES AND COMMER SABASTEEL INDUSTRIAL NIG LTD A A RANO NIGERIA LTD KEDILASO INTERNATIONAL LIMITED TULCAN ENERGY RESOURCES LIMITED C JIMSON NIGERIA LTD AKASH MINERALS AND MINNING LIMITED SABASTEEL INDUSTRIAL NIG LTD SIMBA INDUSTRIES LIMITED SUMAL FOOD LIMITED OLYMPIC INKS LIMITED SUMAL FOOD LIMITED SUBAYA METALWARE NIGERIA GLOBAL MANUFACTURING ALLIANCE AND CROP CARE LIMITED IRON PRODUCTS INDUSTRIES LIMITED OBOTICA INDUSTRIAL LTD A A RANO NIGERIA LTD OLYMPIC INKS LIMITED TULCAN ENERGY RESOURCES LIMITED WYNCA SUNSHINE AGRIC PRODUCT NIG LT SUMAL FOOD LIMITED SIMBA INDUSTRIES LIMITED SABASTEEL INDUSTRIAL NIG LTD CENTRAL BANK OF NIGERIA DAG INDUSTRIES NIGERIA LTD STOCKGAP FUELS LTD DAG INDUSTRIES NIGERIA LTD ECOBANK NIGERIA LIMITED ECOBANK NIGERIA LIMITED ECOBANK NIGERIA LIMITED CENTRAL BANK OF NIGERIA KENCHRIF GLOBAL RESOURCES LTD ACHIBE INVESTMENT LTD EXCELLENT GATE CORPORATE LIMITED TOMIK VENTURE WA LTD MARY FAVOUR BUSINESS LINKS IYKELOVETH INVESTMENT LIMITED E N OKAFOR AND SONS NIGERIA ENTERPRISES ATHOBENJI INTERBIZ SWEETHOME BATHROOM LIMITED ILDERAVIN NIGERIA LTD OSESINA OLUWATOYIN DORCAS ODEKA UFUOMA REMILEKUN ODEKA IBIYEMI OLATOMI ODEKA OMONIGHO VICTOR OGHENE LILIAN AKPO NWAJIAKU CHUKWUNWEIKE EMERSON AKINTOYE ABIMBOLA ROSELINE SHIRAWA ABUBAKAR AMINU EZE PANKAN MELISSA OLADELE MODUPE MEDINAT AKINLOYE YETUNDE OLAJUMOKE SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED CFAO MOTORS NIGERIA LIMITED POWERLINK BUSINESS ENTERPRISES LIMITED SEASONS TRADING SERVICES LIMITED SEASONS TRADING SERVICES LIMITED SEASONS TRADING SERVICES LIMITED SEASONS TRADING SERVICES LIMITED WANDEL INTERNATIONAL NIG LTD ECOBANK NIGERIA LIMITED ECOBANK NIGERIA LIMITED ECOBANK NIGERIA LIMITED ECOBANK NIGERIA LIMITED ECOBANK NIGERIA LIMITED ODUNEWU OLUGBENGA MIKE CORVIC INVESTMENT LTD JUAM SUPER STORES LTD UZODINMA AND BROS GLOBAL SERVICES C AND C CROWNING FIELD LTD SUPREME CHOICE RESOURCES LTD BLESSED AFACHRIS NIGERIA ENTERPRISE TAP FOODS RESOURCES OLIVE C MERCHANDISE LTD GONZALIS AGRO LTD IMUKWANYA RESOURCES LTD ANTHOBLISS GLOBAL ENTERPRISES GENAS GLOBAL VENTURES LIMITED B.O.ILODI AND SONS LTD EASY CARE ENTERPRISES M U DA ALBARKA GLOBAL CONCEPT LTD BMS INTL RES.LTD. HENRY-EMI RESOURCES LIMITED P O EMEDO AND SONS LTD NENDAL ENTERPRISE OJEZ ALUMINIUM MANUFACTURING COMPAN AWARD INTEGRATED SERVICES LIMITED CHIDON GLOBAL LINKS LIMITED OLUMARTINS OLUBIMBOLA OLUTOLA OLUMARTINS KAYODE EMAMI EMIKO MARIS ANENIH MARYANN EKPEHOSE AGADA SIMON EKEDEGWA SOMUYIWA OLUWAYEMISI AISHAT COKER ELIZABETH OLUWAGBEMISOLA MAMMAN SALE MAGANDA ISHAYA MATHEW ODUSOTE KAYODE ADETOLA EHUSANI GEORGE OMAKU TIAMIYU FATIMA ABEKE OYEKUNBI BOLATITO KUDIRAT EYAKENYI AKON ETIM IHS NIGERIA PLC DAG INDUSTRIES NIGERIA LTD DAG INDUSTRIES NIGERIA LTD DAG INDUSTRIES NIGERIA LTD DAG INDUSTRIES NIGERIA LTD SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED ANXIN INDUSTRIAL TECHNOLOGY NIGERIA CFAO MOTORS NIGERIA LIMITED CFAO MOTORS NIGERIA LIMITED

358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 361.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 356.50 361.00 361.00 361.00 360.00 360.00 360.00 357.00 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 315.00 315.00 315.00 315.00 315.00 315.00 315.00 315.00 315.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 361.00 360.00 361.00 361.00 361.00 315.00 315.00 315.00 360.00 360.00 360.00

43

T H I S D AY ˾ ͯͱË&#x153; Ͱͮͯͷ

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 10th-MAY 2019 This publication: Mandated by the Central Bank of Nigeria (CBN) BANK: ECOBANK NIGERIA LIMITED SN CUSTOMER

ITEM OF IMPORT

DATE OF USD EXFUND CHANGE SALE RATE

314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354

IMPORTATION OF INDUSTRIAL RAW MATERIALS- SYNTHETIC TOW OF ACRYLIC FOR SPINNING IMPORTATION OF 7,004 BAGS OF DRIED SEA PRODUCTS FOR ANIMAL FEEDS VIA LC FOR IMPORTATION OF ANIMAL FEED FOR IMPORTATION OF ANIMAL FEED OFFSHORE CHARGE RAZORS/STATIONARY/LIGHTERS RAZOR CLASSIC BIC 1 NORMAL BULK OFFSHORE CHARGE OFFSHORE CHARGE OFFSHORE CHARGE SALE TO CBN EDUCATION EDUCATION EDUCATION EDUCATION ANIMAL FEED PROTEIN SUPPLEMENT FOR FISH ANIMAL FEED PROTEIN SUPPLEMENT FOR FISH UMBRELLA SEWING MACHINE NEEDLE ROLLAR CHAIN BALL VALVE FOR PLUMBING LAMPHOLDER AND SWITCHES TAPPING SCREWS PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA

10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19

HAFFAR INDUSTRIAL COMPANY LIMITED INTEGRATED FISHERIES COMP LTD NAKS INTERNATIONAL CO LTD NAKS INTERNATIONAL CO LTD NATIONAL TRUCKS MANUFACTURES LTD NIG BALL POINT PEN IND LTD NIG BALL POINT PEN IND LTD SARO AGROSCIENCE LIMITED ECOBANK NIGERIA LIMITED ECOBANK NIGERIA LIMITED CENTRAL BANK OF NIGERIA OLUMARTINS KAYODE AJIENKA JOSEPH ATUBOKIKI IWUCHUKWU FRANCIS CHUKWUEMEKA SOKOTO STATE UNIVERSITY TET FUND AC MENTLEX VENTURES NIG LTD EKEHPETER AND SONS COMPANY GREEN CAZCON ENTERPRISE MICH IRUOHA VENTURES ENTERPRISE EMMY O INTERNATIONAL NIG LTD CHIDI FELIX INTL VENTURES CHALLY DIVINE ENTERPRISES JUDIF INTERNATIONAL LTD NDOCHIENWA FRANKLIN EMEKA UDENWAGU TOCHUKWU HENRY FAYOMBO OLUFEMI ABAYOMI ORIAKU ADAEZE JUANITA FAJIMI OLADAPO OLUYEMI AKPOVINO MICHAEL OKEOGHENE NDUKA PERPETUAL CHINAELO VIVIAN OFUNNEKA OTEKA AKINTOLA FOLUSO ADEGORIOLA OKORO UZOMA NNENNA OLADIPUPO OLALEKAN ADEOLA MBANEME EMEKA ANTHONY FAGBEMI OMONIYI BLESSING FAGBEMI TOLUWANIMI OGHENERUEMU FAGBEMI HELEN ETUVWOWIRE DANYI PHOEBE MWUESE HAMMANYAJI ABUBAKAR SADIQ MADUABUM CHINWE MARY-JOE

SN CUSTOMER

ITEM OF IMPORT

360.00 360.00 360.00 360.00 360.00 360.50 360.50 360.00 360.00 360.00 357.00 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50 358.50

60.00 751.64 473.63 558.83 2,121.24 40,299.10 80,575.08 39.67 20.24 371.88 750,000.00 1,508.90 14,207.37 3,608.96 3,284.00 20,000.00 20,000.00 10,000.00 20,000.00 10,000.00 20,000.00 10,000.00 20,000.00 4,000.00 4,000.00 3,984.52 1,567.68 4,000.00 1,000.00 4,000.00 1,305.80 2,611.60 3,250.00 1,305.80 2,255.60 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00

DATE OF CNY EXCH- AMOUNT FUND SALE ANGE RATE

SEASONS TRADING SERVICES LIMITED IMPORTATION OF NEW PORTABLE GASOLINE GENERATOR

6-May-19

51.00 675,000.00

RETURNS ON SOURCES OF FUNDS PURCHASED FROM CUSTOMERS FOR THE WEEK ENDED FRIDAY 10TH-MAY 2019 SN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86

SOURCE OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK OTHER OTHER CBN INTERVENTION CBN INTERVENTION CBN INTERVENTION CBN INTERVENTION CBN INTERVENTION CBN INTERVENTION CBN INTERVENTION OTHERS OTHERS IMTO CAPITAL IMPRT/FDI EXPORT PROCEEDS DOMICILIARY ACCOUNTS DOMICILIARY ACCOUNTS DOMICILIARY ACCOUNTS IMTO IMTO OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK OTHERS OTHERS CBN INTERVENTION CBN INTERVENTION DOMICILIARY ACCOUNTS DOMICILIARY ACCOUNTS IMTO IMTO IMTO IMTO CBN INTERVENTION CBN INTERVENTION OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS EXPORT PROCEEDS IMTO OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK INTERBANK INTERBANK DOMICILIARY ACCOUNTS DOMICILIARY ACCOUNTS EXPORT PROCEEDS

DATE OF FUND PURCHASE 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 6-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 7-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 8-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 9-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19 10-May-19

USD EXCHANGE RATE 356.00 360.27 356.00 356.00 366.03 360.41 360.41 356.00 361.00 310.50 310.00 342.39 340.99 340.00 339.44 338.00 332.00 331.10 357.00 356.00 355.00 359.00 359.00 360.50 360.50 356.00 354.99 355.00 354.98 355.00 355.00 355.00 355.00 355.00 354.99 355.00 355.00 355.00 355.00 355.00 355.00 355.00 314.50 354.90 355.00 356.50 356.50 356.00 360.00 354.97 355.00 355.00 355.00 357.00 357.00 356.00 356.00 356.00 356.00 356.00 356.00 366.00 366.03 366.03 360.58 360.58 360.58 356.00 356.00 359.00 355.00 356.00 356.00 366.03 360.64 356.00 354.99 355.00 355.00 355.00 314.50 360.60 307.00 359.00 360.50 359.50

TOTAL AMOUNT AVERAGE AMOUNT

SN 1

RETURNS ON SOURCES OF FUNDS PURCHASED FROM CUSTOMERS FOR THE WEEK ENDED FRIDAY 10TH-MAY 2019 SOURCE DATE OF FUND PURCHASE CNY EXCHANGE RATE CBN INTERVENTION 6-May-19 50.50 TOTAL AMOUNT AVERAGE AMOUNT

(&2:$6 &200,66,21

&200,66,21 '( /$ &('($2

AMOUNT

RETURNS ON UTILIZATION OF FUNDS SOLD (CNY) TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 10TH-MAY 2019 1

a

&20,66$2 '$ &('($2

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INTERNA TIONAL

South Africa 2019: Referendum on Ramaphoria?

Pulling through its worst performance in 25 years, the African National Congress wins last weekâ&#x20AC;&#x2122;s elections, underscoring a full term for Cyril Ramaphosa in a pyrrhic victory that casts a slur on its reputation, writes Tony Iyare The final tally of the South African election perceived as a referendum on President Cyril Ramaphosa, shows the ruling African National Congress (ANC), winning 57.51per cent of votes cast, its worst performance since the advent of multi-racial election in 1994.

The website of the Electoral Commission revealed that the ANC polled 10,026,047 votes of the 17,668,318 total votes cast, which is less than the 11 million votes won in 2014, underscoring the fact that its popularity is seriously on the wane.

But a full term is assured for President Ramaphosa whose rhetoric on fighting corruption and redistributing choice lands controlled by the one percent White population â&#x20AC;&#x153;without compensation,â&#x20AC;? still remains a mirage.

Ramaphosa, seen as an ally of big business, is called â&#x20AC;&#x2DC;Ramaphoria,â&#x20AC;&#x2122; underpinning the euphoria that saw his emergence as President in 2018, which may now have become extinguished with his seeming prevarication.

The biggest opposition Democratic Alliance (DA) got 3,618,992, representing 20.7651per cent of the votes, also lower than the 22.2 per cent or the 4 million votes it garnered in 2014.

However, Julius Malemaâ&#x20AC;&#x2122;s left leaning Economic Freedom Fighters (EFF), whose support is on the rise, clinched the third spot with 1,881,331 votes, representing 10.79 per cent of the votes cast significantly improving on its performance five years ago. In 2014, EFF, a splinter from the ANC got 6.35 per cent of the votes.

With 26,779, 025 people registered to vote, turnout was estimated at 65.99 per cent. According to the electoral body, 235,449 votes were voided in the 22,924 of the voting districts captured, out of 22,925.

Eight of the nine provincial legislatures were won by the ANC which polled 68.74 per cent of the votes to reinforce its image as South Africaâ&#x20AC;&#x2122;s leading political party, leaving the DA and EFF to share 15.73 and 7.84 per cent respectively. The EFF retained its position as official opposition in Limpopo and the North West, while simultaneously beating the DA to second place in Mpumalanga. The DA obtained a second place in five provinces won by the ANC. In KwaZulu-Natal, the Inkatha Freedom Party (IFP) for the first time since 2014 beat the DA to second place and grew to 3.3851per cent on a national level. In the Western Cape, the only province not won by the ANC, the DA declined from 59.3851per cent to 55.4551per cent.

The Independent Electoral Commission of South Africa (IEC) had announced on 20 March 2019 that a record number of 48 parties had registered candidates for the national parliamentary election.

This is 19 more parties that contested the 2014 national elections. Some of the parties opted to contest only in the provincial elections.

A total of 14 parties won seats in the national parliament. With the ANC winning 230 majority parliamentary seats followed by the DA and EFF winning 84 and 44 seats respectively, its control of the South African Parliament is assured. The Inkatha Freedom Party and the Freedom Front Plus also won 14 and 10 seats respectively to claim the 4th and 5th position in parliament while the other 18 seats were split amongst nine parties.

Against the backdrop of the declining performance of the ANC is the rise and rise of Malemaâ&#x20AC;&#x2122;s EFF which garnered 44 seats, almost some geometric leap from the 25 seats it won in its first birth in 2014. The EFF is a splinter party of the ANC that was formed in July 2013 by expelled ANC Youth League leader, Julius Malema, taking a strong anti-ANC position within its far-left economic platform, such as calling for the expropriation of land without compensation, and the nationalisation of South Africaâ&#x20AC;&#x2122;s mines and the South African Reserve Bank.

The ruliing African National Congress (ANC) now led by Cyril Ramaphosa has held a majority of the seats in the National Assembly since 1994, being re-elected with increasing majorities in 1999 and 2004 but with a slight fall in its majority in 2009 and 2014. Ramaphosa was elected in 2018 to a five-year term as President of the ANC in a hotly contested election, beating his

President Cyril Ramaphosa rival, Nkosazana Dlamini-Zuma, by a narrow margin.

On February 14, 2018, former President, Jacob Zuma resigned, paving the way for Ramaphosa, then Deputy President, to succeed him as Acting President to serve out the remainder of Zumaâ&#x20AC;&#x2122;s term. Since Ramaphosa was elected President on February 15, 2018, not much has changed in the stance of the party to deal with corruption either within government or among its ranks.

Apart from being prostrate on the salient issue of opening up the economy and providing sop for the majority Black population, the ANCâ&#x20AC;&#x2122;s long accommodation of the excesses of Zuma whoâ&#x20AC;&#x2122;s now undergoing trial on 800 corruption charges virtually soiled its image.

The ANC which defeated an earlier motion to expropriate lands without compensation has now gravitated to the idea as it faced the push of the EFF on the issue.

As Chief Negotiator for the ANC, Ramaphosa, a former general secretary of the party and the countryâ&#x20AC;&#x2122;s icon, former President Nelson Mandela are culpable in the side tracking of the key demand of the Freedom Charter on the redistribution of land. Demanding for political power with nominal control of the economy has proved illusory, rendering the ANC spineless on the issue of empowering the Black population whose growing frustration has fuelled the backlash on fellow Africans.

Its pussy feet led to the bolstering of parties like the DA regarded as the official opposition.

At the partyâ&#x20AC;&#x2122;s 2015 Federal Congress in Port Elizabeth, Mmusi Maimane was elected leader of the DA, succeeding outgoing leader Helen Zille. He defeated Wilmot James, winning close to 90% of the vote. He was backed by prominent businessman and future Johannesburg mayor Herman Mashaba. He became the first black South African to lead the DA, as well as its youngest leader to date.

In the 2016 municipal elections, the party contested the municipal elections for the first time under the leadership of Maimane, gaining significant support and control of municipalities across South Africa while assuming control of most Western Cape councils. In addition, the

party gained three metropolitan municipalities from the ANC â&#x20AC;&#x201C; Tshwane, Johannesburg and Nelson Mandela Bay. The party also increased its majority in Cape Town. But it lost control of the Nelson Mandela Bay municipality in August 2018, after a vote of no confidence ousted the DA administration.

The DA held its Federal Congress on April 7thâ&#x20AC;&#x201C;8th, 2018 in Pretoria, voting Maimane unopposed as leader for another term.

The Inkatha Freedom Party (IFP) led by Mangosuthu Buthelezi has seen a withering of its support base since 2004 due to internal party crises. The party gained municipalities and support in its stronghold of KwaZulu-Natal in the 2016 municipal elections. This election is the last for Buthelezi as party president. He had announced on January 20th, 2019 that he would not seek re-election to another term.

The National Freedom Party (NFP) formed in 2011 by disgruntled IFP members, was launched on 25 January 2011 by Zanele KaMagwaza-Msibi, former chairperson of the Inkatha Freedom Party (IFP). The party made gains on the IFP in 2014, but lost support in 2016.

The Freedom Front Plus (FF+; Afrikaans: Vryheidsfront Plus, VF+) led by Pieter Groenewald is a conservative, White separatist party formed in 1994. Since 2004, the partyâ&#x20AC;&#x2122;s support has increased but has maintained a small presence in parliament by securing no more than four seats in the National Assembly since the 2004 general election.

According to the partyâ&#x20AC;&#x2122;s manifesto: â&#x20AC;&#x153;The Freedom Front Plus is irrevocably committed to the realisation of communitiesâ&#x20AC;&#x2122;, in particular, the Afrikanerâ&#x20AC;&#x2122;s, internationally recognised right to self-determination, territorial or otherwise; the maintenance, protection and promotion of their rights and interests, as well as the promotion of the right of self-determination of any other community, bound by a common language and cultural heritage in South Africa.â&#x20AC;?

No doubt the most critical issue in the election was corruption. Corruption within government and government owned enterprises was a significant electoral issue with all three of the largest parties campaigning on the

issue. The ANC promised to fight corruption within government and its own party whilst also controversially claiming that it had set up the Zondo Commission of Inquiry into state capture.

The DA wants to impose a standard 15-year jail sentence for anyone caught committing corruption and establish a new anti-corruption unit in the National Prosecuting Authority (NPA) to investigate politicians and government officials involved in misconduct. The EFF proposes amending the constitution to make the NPA accountable to Parliament, rather than the National Government.

Land reform was also a major campaign issue that the three largest political parties campaigned on. The ANC pledged to accelerate redistribution through expropriation in a way that will not negatively impact food security. The EFF campaigned for state ownership over all land and the abolition of rents whilst the DA angled to strengthen property rights but at the same time implementing a land-reform programme that increases access to land ownership. The Freedom Front Plus (FF+) and Congress of the People (COPE) and many other parties are strongly opposed to land expropriation without compensation. COPE and AfriForum have since formed a partnership in their opposition to the controversial policy.

On how to engender economic growth, the ANC campaigned on making economic growth and reducing unemployment its central plank with the promise to create 275,000 new jobs a year for five years and attract R1.2 trillion in investment. Other parties also focused on job creation with the DA promising economic reforms to encourage growth and promoting the growth of small businesses. DA Federal Leader Mmusi Maimane advocated for a job in every household, whilst the EFF promised special economic zones to attract foreign investment.

A number of parties campaigned on the issue of crime and how to deal with it. The ANC pledged to strengthen the police force through better training and recruiting more officers whilst also focusing on dealing with gender-based violence. The DA advocated for the creation and strengthening of local level police forces instead of existing government policy focusing on the national level South African Police Service. The EFF promised harsher sentences for offenders and to greatly expand the police force.

The Inkatha Freedom Party (IFP), African Covenant and the African Transformation Movement (ATM) campaigned for the return of the death penalty.

Tackling electricity blackouts caused by longrunning and ongoing problems resulting from mismanagement and corruption at the state utility Eskom was an election issue that the DA campaigned on putting the incumbent ANC on the spot. Maimane and the DA Western Cape Premier candidate, Alan Winde, has campaigned for the Western Cape to procure its electricity supply from Independent Power Producers (IPPs). Ramaphosa is however on the firm belief that South Africa would overcome the electricity crisis.

Perhaps more worrisome is how to deal with the stoking of xenophobia which saw the Black population summarily killing fellow Africans whom they accused of taking their jobs on the streets. Many Nigerians and Zimbabweans were at the receiving end of these bestial attacks which also witnessed the massive looting of their shops.

On the March 25th, 2019 in the run up to the election, xenophobic riots targeting African immigrants broke out in Durban, resulting in the deaths of three people and the looting of foreign owned stores. A speech given by President Ramaphosa at the ANCâ&#x20AC;&#x2122;s election manifesto launch which talked about cracking down on undocumented foreigners involved in criminal activities was blamed for inflaming xenophobic feeling. r*ZBSF JT BO JOUFSOBUJPOBM SFMBUJPOT BOBMZTU )F T BMTP B DPNNVOJDBUJPO EFWFMPQNFOU DPOTVMUBOU )F DBO CF SFBDIFE PO FIJBNF !

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MONDAY MAY 13, 2019 ˾ T H I S D AY

49

NEWS XTRA

Corruption Allegation: PDP Asks Buhari to Speak up on Bulkachuwa Group asks court president to step down from tribunal Iyobosa Uwugiaren in Abuja The Peoples Democratic Party (PDP) yesterday called on President Muhammadu Buhari and the leadership of the All Progressives Congress

(APC), to clear the air on alleged corruption against the President of the Court of Appeal, Justice Zainab Bulkachuwa.

This is coming as a judicial advocacy group, Access to Justice, has asked Bulkachuwa

FEC Approves N35bn Road Contracts in Six States Adedayo Akinwale in Abuja The Federal Executive Council (FEC) has approved road contracts worth N35.944 billion in six states of the federation, bringing to a total of 16 roads the council has approved in recent times.

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, in a statement issued yesterday by his Special Adviser on Communication, Mr. Hakeem Bello, said that the newly-approved roads was in pursuance of the federal government’s commitment to developing the country’s road network in the six geopolitical zones.

Barely three weeks ago, the council approved the award of N169.74 billion contracts for the construction and rehabilitation of 10 roads across the country.

However, the minister said that the beneficiary states in the latest approvals during the last FEC meeting, include Kebbi and Zamfara states where a N3.813 billion contract was approved for the rehabilitation of BirninYauriRijau, Magajiya to Daki-Takwas Road; Akwa Ibom State, where a N1.1 billion contract was approved for the construction of Atan Ikot Okoro Road with Bridge at Esssien Udim Local

Government Area and Ebonyi State where a N3, 071 billion was approved for the reconstruction of Oso-Owutu Road.

He added that for Benue State, a contract of N27.3 billion was approved for the rehabilitation of Makurdi-Naka-Adoka Road Phase 1.

Fashola said that the approval for Kano State was an augmentation sum of N676.2 million, which was approved for the completion of the construction of WudilUtai-Achika-Darki-Jegaware Road, whose contract was first approved in 2012 by FEC at an initial sum of N4.4 billion.

According to him, “The approvals, which were sequel to two memoranda submitted to the council by the Minister of Power, Works and Housing, Mr. Babatunde Fashola, showed that the Makurdi-Naka-Adoka Road Phase 1 in Benue State will be rehabilitated by Messrs Gilmor Engineering Nigeria Limited in 42 months; the Kebbi/Zamfara road by Messrs H&M Nigeria Limited in 12 months; that of Akwa Ibom State by Messrs Raycon and Company Nigeria Limited in 28 months; while that of Ebonyi is awarded to Messrs Sabtech Towers Nigeria Limited with a completion date of 18 months.”

to step down as a member of the Presidential Election Petition Tribunal on the grounds that she is married to a senator-elect of the ruling All Progressives Congress (APC).

The main opposition party in a statement issued by its spokesman, Kola Ologbondiyan, said that on account of this allegation and the nefarious plot to bring the name of its party into its narrative, the Buhari-led presidency should come clear on the corruption allegation it opened on Justice Bulkachuwa.

The party said that since the Buhari-led presidency had alluded to issues of corruption against Justice Bulkachuwa, contrary to issues raised in the PDP petition bothering on bias, it behoves on the presidency and the APC to make public, the corruption issues they have alluded to.

“The presidency should also take a step further by pursuing

these issues of corruption just as it did in its case of corruption allegations against the former Chief Justice of Nigeria, Justice Walter Onnoghen, instead of wickedly dragging our party into issues that have no bearing with the PDP. “Now that the presidency has informed the whole nation that Justice Bulkachuwa has issues of corruption, we challenge it to do the needful rather than engaging in shadow-boxing against our party.

“Moreover, in the face of corruption allegations, as has now been exposed by the presidency, the burden still lies on the same presidency to come clean. In doing that, the presidency will be ranching on its established course, having hit the records of harassing and intimidating judicial officials, abuse of court processes and disregard for court orders,” PDP added.

The party added that the presidency’s fresh allegation of corruption now places a huge moral burden on Justice Bulkachuwa, particularly in her capacity as the President of the Court of Appeal.

The opposition party further stated, “this is because, a judicial officer of such high standing must not only be above board but be seen to be above board at all times. Nevertheless, the PDP restates our demand for Justice Bulkachuwa to recuse herself from the Presidential Election Petition Tribunal, following the manifest bias in her opening address, that no matter how well the election is conducted, there are bound to be complaints.

“This is in addition to the fact that her husband, Hon. Adamu Mohammed Bulkachuwa, is a frontline leader of the APC, which is a party in our case before the tribunal. “With these developments, it is certain that

there is no way the PDP can obtain justice with Justice Bulkachuwa in the panel.”

Meanwhile, Access to Justice has asked Bulkachuwa, to step down from the Presidential Election Petition Tribunal.

The group, in a statement at the weekend by its Executive Director, Joseph Otteh, said the Appeal Court judgments on Onnoghen were not only of no value and too late in coming but were not much other than hollow rites of passage. It noted that though Bulkachuwa is not sitting on an election petition involving her spouse personally, but that involving her spouse’s political party and platform.

The group noted that the call for Justice Bulkachuwa to re-consider her membership of the tribunal is not because she will not be a fair-minded and impartial, but due to the perceptions of reasonable members of the public.

African Anti-graft Heads Seek Repatriation of Stolen Assets from Europe, US Kingsley Nwezeh in Abuja Heads of anti-corruption agencies in Africa weekend called on Heads of Government in Europe, the United States and other jurisdictions to work towards speedy and unfettered repatriation of recovered assets to African countries.

This was contained in a communique issued at the end of the 9th Commonwealth Regional Conference of Anti-Corruption Agencies in Africa at the Lake Victoria Serena Golf Resort & Spa in Kampala, Uganda.

The event, which held from May 6 to10, 2019, was attended heads of anti-graft agencies in Africa with the theme:“Time to Act: Prevent Corruption for Sustainable Development.”

A statement issued yesterday by the Economic and Financial Crimes Commission (EFCC) said the conference expressed concerns over the heavy losses that Africa suffered as a result of illegal transfers of proceeds of corruption and crime out of the continent, saying there was the need to strengthen cooperation and collaboration among the

anti-corruption agencies in Commonwealth Africa for purposes of facilitating asset recovery and return.

President of the Uganda, Yoweri Museveni, declared the conference open on May 6, 2019 while the Commonwealth Secretary General, Hon. Patricia Scotland, spoke on remarkable achievements of anti-graft agencies in Africa.

The Acting Chairman of the EFCC and the immediate past Chairman of Association of Anti- Corruption Agencies in Commonwealth Africa, Ibrahim Magu, in his speech, highlighted major achievements of the commission under his watch.

Experts from different areas of specialisation, gave illuminating experiences and solutions on how to tackle the menace of corruption.

The communique further urged anti-corruption agencies to emulate the EFCC and acquire polygraph technology as part of their investigative and integrity testing process.

The EFCC is the only agency in Commonwealth Africa using the technology for corruption cases in courts.

80 HEARTY CHEERS…

L-R: A former Minister of Foreign Affairs, Maj. Gen. Ike Nwachukwu (rtd.); the celebrant and former Minister of Culture and Tourism, Alabo Tonye Graham Douglas; and former Managing Director of Niger Delta Development Commission (NDDC), Chief Timi Alaibe, at the 80th birthday celebration of Douglas in Port Harcourt, Rivers State…recently

Ekweremadu Pledges to Retire from Senate in 2023 DChristopher Isiguzo and Gideon Arinze in Enugu Deputy President of the Senate, Senator Ike Ekweremadu, has said he will retire from the upper legislative chamber in 2023.

The lawmaker stated that he will no longer seek for reelection to the Red Chambers in 2023.

Ekweremadu who is representing Enugu West in the National Assembly, announced this yesterday in Enugu during his 57th birthday celebration.

The senator who is completing his fourth tenure in the National Assembly was re-elected for a fifth term during the just concluded general election.

The lawmaker said it was

time to quit the legislature, adding that his remaining time in the National Assembly would afford him time to complete ongoing projects in his constituency.

He said that a new breed politician with shared visions would take over from him at the expiration of the fifth term.

Ekweremadu said that his 16 years’ sojourn in the National Assembly had been immensely beneficial to his constituents as it had been a harvest of projects.

He thanked President Muhammadu Buhari for his support through the various projects being executed in his constituency.

Ekweremadu who traced his political evolution from his time as president general of his town union, said that his

political career had not always been smooth.

He said that his life had been a product of divine grace, having passed through political persecution and vicissitude of life.

“I have been through the valleys of the shadow of death.

I have been scorched and bruised for my political beliefs and determination to defend the principles of democracy and uphold justice for every segment of this nation,” he said.

“We are assembled here today to mark the awesomeness of God in my life and to thank you all for standing by me over yet another year of trauma in my politics, including the attempt on my life and lives of my family members, the assault on my liberty, and all the evil

designs of the evil people in our society against my person and politics.

“Therefore, as I thank you for these 16 memorable and splendid years as a Senator of the Federal Republic of Nigeria; as I thank my distinguished colleagues for honouring me as the deputy president of the Senate for three consecutive times; as we recall the accomplishments of the projects of my representation in the last 16 years; as I acknowledge your kindness in keeping me in the Senate for these 16 years; and as I prepare to further represent you by your mandate for the next four years, let me seek your understanding and indulgence to now announce that this will be my last term as your senator,” he said.

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NEWS XTRA

PDP Leaders Express Concerns over State of the Nation Allege plot to clamp down on Obi, other party leaders Adedayo Akinwale in Abuja The leaders of the Peoples Democratic Party (PDP) have expressed concern over the scary instability of the nation due to the alleged abuse of power, manipulations of institutions of government, and the vindictive tendencies of All Progressives Congress (APC)-led administration.

The leaders of the main opposition party have also decried the efforts by the APC to intimidate, annex and manipulate the judiciary, especially on election matters, as well as allegations of widespread corruption and official high handedness of the Buhari-led administration.

The party leaders were also said to have expressed fears that all the PDP matters that will end at the Court of Appeal might not get justice as a result of alleged partisanship of the President of the Court of Appeal,

Justice Zainab Bulkachuwa.

The PDP had demanded that Bulkachuwa recuse herself from the Presidential Election Appeals Panel on account of alleged partisanship and bias in her statement that no matter how well election is conducted, there are bound to be complaints.

However, the critical stakeholders of the main opposition party were said to have met in Maitama, Abuja, at the weekend, to review the state of the nation, especially the unabated killings, bloodletting and kidnapping in the country.

The party leaders at the meeting also frowned at the attempt to cause crisis in Kano by the ill-advised fragmentation of the Kano Emirate, and the renewed clamp down on opposition leaders.

The opposition leaders expressed grave concern over the recent moves to fragmentise the Kano Emirate and whittle down the influence of the Emir

of Kano, without being sensitive to the reality of the crisis such can cause in the Kano Emirate.

The stakeholders also accused certain individuals at the Presidential Villa of being behind the splitting of the Kano Emirate.

They expressed fears that such might extend to the Sokoto Caliphate if they are allowed to manipulate the Court processes against the victory of Governor Aminu Tambuwal.

A reliable source privy to the meeting told THISDAY that the opposition leaders decried what they described as the ‘vindictive’ actions of the APC administration, including fears of plots to clamp down on PDP’s vice presidential

candidate, Mr. Peter Obi, and other PDP leaders, as well as the alleged personal vendetta mission against the Senate President, Dr. Bukola Saraki by the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu.

The PDP leaders were said to have frowned at allegations that Magu, is bent on dealing with Saraki over the refusal by the Senate to confirm him as substantive Chairman of the EFCC. It was also gathered that the opposition leaders expressed worry over an alleged plot by the EFCC to clamp down on officials of Rivers State Government, despite the order

of the High Court restraining it from doing so.

“As a patriotic party, committed to the stability of our nation, our leaders have been concerned about the anguish Nigerians are passing through as a result of the escalated insecurity in our country; the unabated killings and kidnappings in Zamfara, Borno, Kaduna, Taraba, Yobe, Adamawa, Kogi, Plateau, Gombe states, as well as Abuja and other states of the federation.

“All these are happening because we have an incompetent administration that attaches no value for the wellbeing of our citizens; we have an insensitive

administration that has failed to move beyond lip service and effectively tackling the security situation in the country,” one the PDP leaders privy to the meeting told THISDAY. “Our leaders are particularly worried over speculations that certain elements at the presidency and the Kano State government are behind the plans to balkanize the Kano Emirate and strip the sitting Emir of his influence and powers, as punishment for allegedly not supporting the APC in the general elections.

Such is not the way to go in a country that is already facing security issues,” the source added.

Ocean Surge Ravages Four Ondo Communities, Properties James Sowole in Akure Ocean surge has destroyed four riverine communities of Ondo State and rendered residents homeless in Ilaje Local Government Areas of the state.

The surge which was said to have occurred last week, affected four communities of Mese, Ayetoro, Abereke, and Gbagira, all in the oil rich council area of the state.

A source told journalists that the area had over the years been suffering from ocean surge being coastal community.

He said the latest incident that wreaked havoc started three weeks ago and was yet to cease till last week, adding that no life was however lost in the surge.

The source said: “Many have been rendered homeless after the incident because their houses have been destroyed. We need

the government intervention, as we need shoreline protection in that area.”

To this end, a group under the auspices of the Ilaje Advancement Forum has called on the government and other stakeholders to protect the residents of the affected communities.

Coordinator of the group, Mr. Fadeshola Ojamomi, said the government and relevant agencies were aware of the ugly development, noting that the affected communities started noticing the sea incursion in 2006.

“The federal government approved the sum of N8 billion for sea embankment sometimes in 2006 and 2007 but nothing happened till date.

“We wrote to the governor recently and we are currently working on an open letter to the president via the national dailies,” he stated.

NYSC New DG Urges Staff to Shun Corruption Oghenevwede Ohwovoriole in Abuja The new Director General of the National Youth Service Corps (NYSC), Brigadier General Shuiabu Ibrahim, has called on the staff to shun corruption and malpractices.

He gave the advice yesterday in Abuja during his official taking over from the immediate past DG of the scheme, Brigadier General Suleiman Kazure, at the scheme’s national headquarters.

He promised to make corps members, staff welfare and security his top priority.

Ibrahim who was of imense gratitude to God and President Buhari for the opportunity to serve, promised a cordial working relationship, open door policies and listening ear, adding that he will take the scheme to the next pedestal.

“My sincere and profound gratitude go to first and foremost, the Almighty God for making today possible. My ardent appreciation goes to the President and Commander-in-Chief of the Armed Forces of the Federal

Republic of Nigeria, President Muhammadu Buhari; Minister of Defence; and Chief of Army Staff for finding me worthy to be appointed DG of this great scheme.

“I cannot thank the outgoing DG enough. He has done extremely well to have lifted the scheme to a higher level. I want to assure him that I will strive to sustain the tremendous achievements and take the scheme to another pedestal.

“My vision will be to sustain effective utilisation of the potentials of the corps members, pursue a technologically driven organisation, improve on the welfare of both corps members and the staff, as well as their security, strengthen the existing collaborations with stakeholders, and rejig the NYSC ventures in line with the NYSC Act. “To whom much is given, much is expected, I would want to urge the staff to be committed to work, shun malpractices and corruption. Team work and fairness to all will be my watchword.”

BUILDING A NATION IN FOCUS…

L-R: British Deputy High Commissioner to Nigeria, Harriet Thompson; Convener, To Build a Nation (TBAN), Prof. Kingsley Moghalu; and British Deputy High Commissioner to Nigeria, Laure Beaufils, after a dinner hosted by the British High Commission in Lagos… recently

Railway Contractors Hail Amaechi’s Performance In what seemed like a farewell gathering, contractors handling the construction of various railway projects in the country have commended the Minister of Transportation, Rotimi Amaechi, for his ‘outstanding performance’ in the rail subsector.

The commendation is coming few weeks to the end of the first tenure of the administration of President Muhammadu Buhari.

Speaking at a steering committee meeting of the Lagos-Ibadan railway project in Papalanto, Ogun State, last Saturday, Project Manager of Chinese Civil Engineering

Construction Company (CCECC), Mr. Xia Lijan, said Amaechi has, without doubts, demonstrated leadership skills in championing the construction of the rail projects.

He said from the track laying works to the production of beams on the Lagos-Ibadan project, the minister conformed to the contract agreement and demonstrated honesty in its totality.

According to him, “We wish to recall March 7, 2017, when Vice President Yemi Osinbanjo performed the ground-breaking ceremony of the 156 kilometre

Lagos-Ibadan standard gauge railway project that marked the commencement of regular monitoring, supervision and coordination by the minister.

“Appreciating CCECC railway engineering excellence and technological know-how, the minister without doubts, demonstrated his wonderful leadership skills and workaholic dictates in championing the cause of these great feats we have achieved.

“From the track laying works, production of beams for rail bridges, earthwork solidification and other segments

of the railway engineering, the minister excellently monitored them in conformity with the contract agreement which makes me believe that he may not be far from being a hidden railway technocrat. He has really showcased his visionary traits, as he fully demonstrated honesty and total commitment to the development aspirations of President Buhari.”

On his part, Public Relations (PR) consultant to CCECC, Mr. Akinwoye Abdulraouf, said Amaechi demonstrated quality leadership by ensuring that the right things were done properly.

Ooni Hosts Youths, Women Empowerment Summit Yinka Kolawole in Osogbo Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, has hosted the fourth edition of the “Ooni Ogunwusi Youth And Women Empowerment Summit 2019”, where he also unveiled the physically challenged youths innovation challenge.

In a statement issued by his Director of Media Relations and Public Affairs, Moses Olafare, the event, which held at the Oba Okunade Sijuwade Memorial Hall, Ile Ife, Osun State, was attended

by notable entrepreneurs, top government functionaries, beneficiaries of previous editions, physically challenged individuals and students.

While addressing the gathering, Ogunwusi who could not hide his joy explained that the success of the initiative within the last four years has revealed to him that “it is only a lazy youth that will remain idle in Ife.” He said, “This initiative covers all categories of individuals across vital

economic sectors, including the specially created ones that most of you refer to as the physically challenged.

According to him, “I thereby call on our teeming youths and women across Ile Ife and beyond to take advantage of this initiative which is absolutely free to acquire necessary skills for absolute economic independence and all round prosperity.”

Earlier, in her speech, the lead speaker at the event, Iyalode Alaba Lawson, who

was represented by Chief (Mrs.) Anita Nana Okuribido, extolled the monarch for the initiative which she described as a leading light out of the country’s worrisome unemployment rate.

Alaba who is the President of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), added that with such an initiative, Nigeria stands on the threshold of what could be the greatest transformation in the country’s history.

MONDAY MAY 13, 2019 ˾ T H I S D AY

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Group Condemns Appeal Court’s Late Ruling on Onnoghen Davidson Iriekpen A judicial advocacy group, Access to Justice, has described the Court of Appeal’s decision to deliver its ruling after the winding up of the Code of Conduct Tribunal’s (CCT) trial of the embattled former Chief Justice of Nigeria, Justice Walter Onnoghen, as unfortunate.

The group, in a statement at the weekend by its Executive Director, Joseph Otteh, said the judgments were not only of no value and too late in coming but were not much other than hollow rites of passage.

It added that if the appellate court had reached its decisions earlier, it would have represented a timely intervention required in Onnoghen’s trial.

“Had the decision of the Court of Appeal been delivered sooner, at a time when it could have mattered, it would have represented a timely intervention required, at that time, to meet the exigencies of the situation in the tribunal.

“It could have halted the travesty and charade that was being played out by the CCT, under the guise of a trial.

“Today, the judgment of the Court of Appeal faulting the obnoxious ex-parte order suspending Justice Onnoghen, as well as denouncing the tribunal’s disregard of the orders issued against it by other courts halting its proceedings, has little else to it besides just academic value.

“The judgments are, therefore,

not much other than hollow rites of passage. The Court of Appeal’s moralisations on the conduct of the CCT at this time, therefore, are of too little value because they were too late.

“Though the Court of Appeal has reasoned that the appeal by Justice Onnoghen has been rendered moot given the conclusion of proceedings against him by the tribunal, it was not as much the appeal as it was the appellate court that had rendered itself moot, out of reckoning, out of service and out of reach.”

A three-member panel of the Court of Appeal last Friday condemned the “secret” sitting of the CCT to suspend Onnoghen but declined to rule on it.

The appellate court had reserved its judgment on Onnoghen’s appeal in February.

The panel, headed by Justice Steve Adah, condemned the various decisions by the CCT regarding Onnoghen’s trial, but gave most of its verdict against the former chief justice’s applications.

For instance, the panel found that the ex-parte order granted by the CCT on January 23 breached Onnoghen’s right to fair hearing because it was obtained in a manner “shrouded in secrecy and clandestine manoeuvre.”

Otteh said whatever the Court of Appeal’s views were on Onnoghen’s conduct, what was at stake was well beyond

Release 10 Nigerians Illegally Detained Martins Ifijeh A human rights lawyer and Senior Advocate of Nigeria (SAN), Mr. Femi Falana, has called on the federal government to release 10 Nigerians allegedly detained illegally in Lagos on the orders of the Chief of Naval Staff, Vice Admiral Ibok-Ete Ekwe Ibas, since October 27, 2018.

In a statement made available to THISDAY yesterday, the senior lawyer said at the time of their arrest, the detainees were crew members aboard a vessel known as “NESO II,” which was hijacked by a gang of pirates.

Falana listed the names of the detainees to include: Oloyede Ademola Yisau, Omogoye Wasiu Bolaji, Edu Fidelis, Richard David, Mike Simeon, Umoren Daniel, Okoghene Asaiki, Udom Victor, James Archibong, and Umon Godswill Emmanuel.

Falana said: “While the detainees were rescued at the time, the pirates were arrested by the Beecroft Naval Base.

Curiously, the crew members who were not indicted in the investigation conducted by the Nigerian Navy into the hijacking of the vessel have since been detained aboard the ship in Marina, Lagos in breach of their fundamental rights to personal liberty and fair hearing guaranteed by the Nigerian Constitution.

“Apart from detaining the crew members in a dehumanising military facility, the Nigerian Navy has compelled each of them to wear the same dress for seven months. Their fundamental rights to dignity

and freedom of movement have also been violated. Since the detainees are civilians who are not subject to service law, the Nigerian Navy ought to have reported them to the Nigeria Police Force if there was reasonable suspicion that they committed any criminal offence whatsoever,” he explained.

The senior lawyer argued that since the detainees have not been charged with any criminal offence before any competent court, he was therefore compelled to request that the Chief of Naval Staff release them from unlawful custody without any further delay.

He added that the Chief of Naval Staff be prosecuted for subjecting the detainees to physical and mental torture, contrary to the provisions of the Anti -Torture Act, 2017.

He said: “Take notice that if you fail to accede to our request within 48 hours of the receipt of this letter, we shall not hesitate to file an application at the Federal High Court to secure the enforcement of the fundamental rights of the detainees to personal liberty, dignity, fair hearing and movement and seek an order of mandamus to compel you to prosecute Ibas.

He also emphasised that since the country was under a democratic dispensation, the federal government should sanction members of the Nigeria Police Force, Nigerian Armed Forces and other security agencies who engage in the incessant arrest and detention of innocent citizens without legal basis.

Onnoghen’s circumstance.

“What is at stake is the ideology of the court’s role in preserving constitutional democracy and the rights of citizens. It implicates the rights of ordinary citizens who have to seek the court’s intervention

in preventing some irreparable harm to them.”

According to him, the judiciary is labouring under serious threats to its independence, coming mostly from the executive arm of government at both federal

and state levels.

“This ought to be a time when courts would rise up and defend Nigeria’s hard-won constitutional democracy with valour and defiance,” he said.

“But our courts are drawing a blank, and making citizens fear

for their ability and readiness to protect them and the rule of law in a country beset by so many problems of governance.

“If tyranny persists in Nigeria, it is because courts are, in the main, failing the Nigerian people.”

SICKLE CELL AWARENESS…

L-R: Former Vice President, African Development Bank, Chief Bisi Ogunjobi; Chairman, Sickle Cell Foundation, Nigeria, Prof. Olu Akinyanju; National Director/CEO, Sickle Cell Foundation, Nigeria, Dr. Annette Akinsete; and Executive Head, Corporate Affairs, MultiChoice Nigeria,Caroline Oghuma, during the closing/certificate award ceremony of the 18th genetic counselling training course on sickle cell disorder sponsored by MultiChoice Nigeria, in Lagos...recently

Sanwo-Olu Condoles with Deputy over Father’s Demise Lagos State Governor-elect, Mr. Babajide Sanwo-Olu has sent his condolences to his deputy, Dr. Obafemi Hamzat, and the entire family on the death of their father, Oba Mufutau Olatunji Hamzat who until his passing was the traditional ruler of Afowora Sogade in Ogun State.

This is coming as the deputy governor-elect has described his late father, the Olu of Afowora Sogade, who passed on yesterday evening as a great man who committed his life to the service of the people.

Sanwo-Olu in a statement by his media aide, Mr. Gboyega Akosile, recalled the service of the late monarch to the people of Lagos where he was a frontline politician and lived most of his adult life adding that Oba Hamzat lived a life worthy of emulation and urged the present generation of leaders to make

service to the people which the late Politician and Monarch lived for, the cornerstone of public service.

“While I extend my condolences to my brother, Dr. Obafemi Hamzat and the entire family, I must implore them to be comforted with the worthy life of our father and leader, Oba Olatunji Hamzat. He was a political leader of immense stature in Lagos and he played politics of service to the people as a member of the Lagos State House of Assembly in 1979 and as a Commissioner.

“He was a leader of men and women who came under his political tutelage in Lagos.

He was for the progressive ideals and stood firmly for the welfare of the people as against that of selfish and personal aggrandizement. He was also a decent man who raised quality children and mentored a lot of

young people. It is very sad that he had to go at a time like this when his wise counsel will be most needed. We are inspired by his example of selfless service to Lagos to continue to work to impact positively on the lives of Lagosians.

Meanwhile, the deputy governor-elect has described his late father as a great man who committed his life to the service of the people.

Hamzat who spoke immediately after the news of his father death was confirmed noted that the late traditional ruler served the people of Lagos State meritoriously as a frontline politician in the progressive camp as an elected member of the State House of Assembly in 1979 under the Unity Party of Nigeria and as a Commissioner.

Speaking on the demise of his father, Hamzat said that his father was a devoted family

man, a statesman, a committed man of faith who mentored generation of people in different fields of human endeavours until his death.

“I thank God for a life well spent by my father. He was a great man who brought up his children with the time honoured values of hardwork, integrity and commitment to service. He impacted positively on many lives till his death. He played important roles in the politics of Lagos State from the days of Action Group. In the Second Republic he was a chieftain of Unity Party of Nigeria and was at the fore-front of progressive politics in Nigeria and Lagos in particular. He was called upon to be the king of his community in Ogun State much later in his life.

He served the community well.

His reign brought development and progress. We will miss him and his father figure role.”

TCN Cautions Union against Planned Picketing of Its Headquarters The Transmission Company of Nigeria (TCN) has raised the alarm over the planned picketing of its headquarters by the Trade Union Congress of Nigeria (TUC).

TCN in a statement yesterday in Abuja by its General Manager, Public Affairs, Mrs. Ndidi Mbah, described the planned picketing of the organisation by TUC as ill-motivated.

According to Mbah, there is no industrial disharmony in the company as speculated in some sections of the media.

“TUC was ill-informed by the President-General of the Senior Staff Association of Electricity and Allied Companies (SSAEAC) having lost the support of TCN staff in the misguided bid to use the TCN branch to advance

selfish interest.’’

She said the patriotic statement of the Managing Director of TCN, Mr. Mohammed Usman that Discos should recapitalise was being challenged by those who are beneficiaries of the liquidity challenges in the power sector.

“Their principal objective is to change the debate on capitalisation of Discos initiated by the managing director of TCN. “TCN management believes that TUC, unknown to them, is being used by unpatriotic elements.

“TUC, as a law abiding organisation, is expected to find out why the planned picketing could not secure the support of TCN staff, NUEE or SSAEAC TCN branch before accepting to lead the picketing of TCN.

“Management of TCN calls on staff to remain lawabiding amid the unwarranted provocation by the sponsors of the planned ill-motivated picketing.’’

She said the current management of TCN had successfully expanded the capacity of the grid from 5,000MW, when it took office in Feb 2017, to 8,100MW in Dec 2018. “It is on record that TCN receives less than 30 per cent of its revenue from the Discos; yet it has been able to attain this unprecedented stride in grid expansion.

“Using in-house capacity, TCN has installed transformers and strung lines with associated transmission system devices in the last two years more than

had ever been achieved in the previous 15 years before this administration.

“Unlike before, TCN – using in-house capacity, has prepared projects and secured more than 1.6 billion dollars from multilateral donors. “This is meant to reinforce the network across the nation to N-1 Reliability standards.’’

She said TCN had also achieved a level of system frequency control never experienced in the nation’s history, which has been commended by West Africa Power Pool (WAPP).

“Current TCN management has been promoting staff more than it had ever done before in its history and we are working assiduously to enhance the company’s revenue base so we can pay better salary.’’

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Farmers Commend Buhari on Emefiele’s Re-appointment Esther Oluku The All Farmers Association of Nigeria (AFAN) has hailed the re-appointment of Mr. Godwin Emefiele as the Central Bank of Nigeria (CBN) Governor

by President Muhammadu Buhari, describing it as a confirmation that the president is “agriculture- friendly”.

The Vice National President of the association, Chief

Daniel Okafor, told the News Agency of Nigeria (NAN) in Abuja yesterday, that the reappointment was commendable.

Okafor appealed to Emefiele to continue with the Anchor Borrowers Programme (ABP) and ensure that all agriculture commodities associations benefitted from the programme in his second tenure.

He also appealed to the CBN governor to ensure the

reduction of interest rates on agricultural loans to three or five per cent.

Okafor appealed to the CBN governor to initiate other agriculture-friendly programmes and also support the Bank of Agriculture (BoA) with funds to enable farmers’ access to agriculture loans.

“We welcome this development. We commend the president for re-appointing Emefiele. “It means that the

president is agriculture-friendly.

We thank him for that. “We want the Anchor Borrowers Programme (ABP) to continue; so, we welcome his continuity.

“The National Assembly should do the needful because farmers need the man at the helm of affairs in CBN. “CBN has been agriculturefriendly since Emefiele’s tenure, but we want him to ensure that every commodity is accommodated in the ABP.

“We will like him to continue; he is a good candidate, kudos to Emefiele, but he should do more not only on ABP but he should also initiate other agriculture- friendly programmes.

“The CBN should also ensure that BoA is supported to get money so that farmers can get loans when necessary.

“He should also try to reduce loan interest rates to be between three and five per

cent,’’ Okafor said.

President Buhari had in a letter to the Senate The CBN in line with its developmental functions, established the ABP, which was launched by Buhari in November 2015 The programme, which had benefitted millions of farmers, was aimed at creating a linkage between anchor companies involved in processing and small holder farmers of key agricultural commodities.

Group Urges EFCC to Investigate Six Years of Unpaid SIWES Stipend The Progressive Students Movement (PSM), a pan-Africa socialist movement, has urged the Economic and Financial Crimes Commission (EFCC) to investigate alleged six years of unpaid Students Industrial Work Scheme (SIWES) stipends.

The President of PSM in Nigeria, Mr Bestman Okereafor, made the call in a statement made available to News Agency of Nigeria (NAN) in Enugu yesterday.

“The attention of PSM, a panAfrican socialist movement, has been drawn to an injustice going on in the Industrial Training Fund (ITF) which has ran into millions of Naira.

“This has caused the nonpayment of the Students Industrial Work Scheme (SIWES) stipends between 2012 and 2018.

“PSM Nigeria is calling on EFCC to X-Ray the unpaid backlog of SIWES stipends between 2012 and 2018.

“Millions of Nigerian students never received the N15,000 and this is absolutely alarming and contrary to the Anti-Corruption Crusade of President Muhammadu Buhari,’’ Okereafor said.

According to him, PSM is giving EFCC 78 hours to commence immediate investigation or face a protest soon by 50,000 students.

“It is understandable that the N15,000 is meager; but in all fairness and justice, it belongs to Nigerian students and as such whatever happens to it Nigerian students want to know and that is why PSM is blowing the whistle,’’ he said.

57 HEARTY CHEERS…

L-R: Deputy President of Senate, Senator Ike Ekweremadu; his wife, Nwanneka; Archbishop Emmanuel Chukwuma of Enugu Ecclesiastical Province (Anglican Communion); Governor Ifeanyi Ugwuanyi of Enugu State; and billionaire businessman, Prince Arthur Eze, during a church service to mark Ekweremadu’s 57th birthday, at Cathedral Church of Good Shepherd, Enugu… yesterday.

Experts Meet in Abuja over Saraki, Ekweremadu, Ortom Pay Tribute to Mark President of the Senate, Senator was our own equivalent of Senate, appreciates his humility, quality representation and Women’s Healthcare Bukola Saraki, his Deputy, Ike the US Senators Robert C. brilliance and patriotism.” indefatigable leadership in the Udora Orizu in Abuja

As part of the efforts to ensure that the Nigerian women become proactive players in the drive to achieve Universal Health Coverage (UHC), Prompt Home Health in collaboration with Medical Women’s Association of Nigeria has invited all stakeholders to Abuja for a symposium on the way forward.

The symposium titled “The Nigerian Woman and Healthcare,” according to the organisers, will have the key decision makers, stakeholders, policy makers, representatives from National Health Insurance Scheme (NHIS); Minister of Health, Professor Isaac Adewole, and other stakeholders in attendance.

In an interview with THISDAY, the Managing Director of Prompt Home Health, Ike Okoye, said that Nigeria’s healthcare system is saddening, adding that it is high time the government commenced the implementation of reforms.

He explained that the reason for the focus on Nigerian women is because they bear the most burden of ineffective healthcare system.

According to the home healthcare provider, “When you say the Nigerian woman, they are not the only one that face healthcare challenges; but she faces quite a whole lot. She’s the mother to the child, husband and family, also faces some socially, morally and economically factors sometimes.

“Naturally a woman’s health is reflective of the health of the family, society and the world at large. If you have healthy women, naturally you have

healthy households. And because of the biological position of the woman, they face a whole lot of challenges; also given the fact that in Nigeria there are cultural inhibitions and financial inhibitions.”

Speaking on the drive by government to achieve Universal Health Coverage by 2030, he said, “Nigeria has been on the line of this universal health coverage for a while; but it doesn’t look like we are making enough progress.

“In Nigeria a lot has been said about this issue, we have gone beyond talking of what to do; we know the right thing to do, and it’s to build the political will to actually achieve those things. ‘’Everything about Nigerian woman health, Universal Health Coverage and so on are already on paper, the problem is having the political will to go out and achieve it and that’s why the women must stand up, galvanize, motivate, form a common voice and achieve progress.

“The problem of Nigeria is not shortage of ideas but implementation, we know the right thing but we don’t have the political will to get things done.’’

On health allocation being very low and what government should do to improve health care, he maintained that the problem is not having political will to get things done.

He added, “It is the same political will; because already the World Health Organisation (WHO) has advised that it shouldn’t be anything less than 13 per cent; but if you look at the Nigerian Health Act, some of these things have not been implemented.

Ekweremadu; Governor Samuel Ortom of Benue State, among others, yesterday paid glowing tribute to the immediate past President of the Senate, Senator David Mark, for his meritorious services as the latter exits from the Senate after 20 years.

In their separate goodwill messages to Mark at a thanksgiving mass at St. Augustine Catholic Church, Otukpo, Benue State, they described him as an icon and patriotic leader in the contemporary Nigeria.

Specifically, Saraki noted that his predecessor has set a record as the longest serving Senator since 1999, the longest serving President of the Senate and referred to him as an officer and a gentleman.

He said: “Senator Mark

Byrd (51 years, five months, 26 days), Daniel K. Inouye (49 years, 11 months and 15 days) Strom Thurmond (47 years, five months, eight days), Ted Kennedy (46years, nine months, 19 days and Patrick J. Leahy (44years) in terms of institutional memory that he embodies.”

Saraki acknowledged that Mark remains a stabilising force in or out of the chamber pointing out that he remains relevant even when he left the position of the primus inter pares in the Senate.

According to him, “while Senator Mark’s record in the Senate remains unbeaten, it is necessary to mention that he is a bridge builder and consummate politician. My colleagues and I in the eight

In his tribute, Deputy President of the Senate noted the leadership qualities of Mark and added “your place of honour as a fine, perceptive, detribalised, patriotic, astute leader and a true democrat is unarguable and unshakable.

Besides leading the National Assembly to break the jinx of constitutional amendments and the successful electoral reforms, Ekweremadu added “your capacity as a wise, experienced, patriotic and true statesman manifested at a very trying time in the nation’s history when you guided the National Assembly to invoke the Doctrine of Necessity to steer the country away from palpable constitutional crisis.”

Governor Samuel Ortom, in his remarks, noted: “Your

Senate brought stability to the system and added enormous value to democracy.

“I am proud to identify with you for your selfless services to the state and the nation as well as providing mentorship to upcoming leaders.”

An elated Mark expressed appreciation to his people for the opportunity to serve, promising to continue to work for peace and unity of Nigeria.

In his homily, the Vicar General of the Catholic Diocese of Otukpo, Most Reverend Kenneth Odeh, described Mark as an icon of inestimable value saying that his contributions to the development of Nigeria cannot be wished away.

Odeh urged Nigerian politicians to emulate Mark’s selfless service to the country.

Oyetola Hails Osun People’s Support after Court’s Verdict Yinka Kolawole in Osogbo Osun State Governor, Adegboyega Oyetola, yesterday hailed Osun people for the massive show of support after last Thursday’s verdict of the Court of Appeal which reaffirmed his victory in last year’s governorship election.

Residents of Osogbo, the state capital, and other major towns trooped to the streets as soon as news of the appellate court’s decision filtered into the state.

Speaking at a thanksgiving prayer session organised at NASFAT in Osogbo, the governor described the massive instantaneous turnout of the people to celebrate his victory

as “remarkable and historic” and expressed gratitude to God and the good people of the state.

He said the massive turnout of the people shortly after the judgment to celebrate the victory indicated the love, acceptance and passion that the people had for his government.

Oyetola said: “Coming to NASFAT today is not only significant but aimed to praising Allah and to appreciate the good people of Osun for their unflinching support.

“Our people have always demonstrated their love and acceptance for this government as reflected in the enthusiasm displayed on Thursday to

celebrate our victory at the Appeal Court.

“This is an attestation of the fact that people of Osun are for the APC and our government.”

He reaffirmed his administration’s determination to bring succour to all and sundry and ensure even and equitable distribution of resources.

The guest lecturer, Sheik Abdul-Rasaq Aduagba, enjoined Muslims to move closer to God and renew their faith in Him. He called for a renewed commitment to the commandments of God and admonished the faithful to shun things capable of leading them on destructive path and deny

them Aljanah Fidaos (paradise) The governor was accompanied by his wife, Alhaja Kafayat; Deputy Chief of Staff, Abdullah Binuyo; Olowu of Kuta, Oba Ahmed Adekunle Makama and Supervisor for Finance, Alhaji Bola Oyebamiji.

Others include a former Commissioner for Local Government and Chieftaincy Affairs, Alhaji Kolapo Alimi; former Commissioner for Home Affairs, Tourism and Culture, Alhaji Sikiru Ayedun; Chairman, Osun Police Community Relations Committee, Amitolu Shittu and former Chairman, Osun Muslim Pilgrim Welfare Board, Alhaji Liadi Tella, among others

MONDAY MAY 13, 2019 ˾ T H I S D AY

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Rivers to Disburse N200m Interest-free Loans to Traders, Young Entrepreneurs Rivers daughters commend Wike Ugo Aliogo Rivers State Government has commenced the disbursement of N200 million per month interest-free loans to traders with a total of 397 traders benefitting from the first phase while the second is expected to start in the second week of next month.

Those to benefit are drawn from the 23 local government areas of the state.

The loans are meant for the beneficiaries to improve their respective businesses.

The state Commissioner for Special Duties and Chairman of the Committee on Entrepreneurs Interest Free Loans, Hon Emeka Onowu, said the loans would be disbursed monthly to the

traders and young entrepreneurs for them to carry out small and medium-sized enterprises.

Onowu thanked the governor for the gesture and urged beneficiaries to invest the money wisely and to utilise it for the purpose it was meant and not to use it for frivolities.

He he stated that despite the economic recession in the country, the state government graciously released the first tranche of of the loan.

The commissioner felicitated with the state governor over his resounding victory at the March 9, 2019 governorship election.

He stated that the loan would go a long way to boost the morale and improve the

businesses of the traders.

Onowu further noted that the state government’s goodwill came as a shock since Governor Wike was just coming out of election processes, He enjoined beneficiaries to invest the money wisely and to utilise it for the purpose it was meant and not to use it for frivolities.

Meanwhile, a group, National Association of Rivers Daughters, has commended Governor

Wike for being humble and magnanimous in victory at the last turbulent governorship election in the state.

The group was reacting to the emergent political realities in the state, especially the governor’s call on political opponents to join hands with him, to advance the course of development in the state.

In a statement signed by its National President, Mrs Millie Charlsba Johnson, and

National Publicity Secretary, Mrs. Tambari Onwukogba, the association further praised Wike for the initiative which they described as exemplary even as they called on the former Governor of the state and Minister of Transportation, Hon. Chibuike Amaechi,other leaders and members of the All Progressives Congress (APC) and opposition parties to accept the hand of fellowship extended to them by the governor to

work for peace and mutual coexistence as he prepares to take Rivers State to a greater height in his second tenure of four years.

The association which is planning to use the opportunity of their 2019 annual general meeting scheduled to hold in Port Harcourt to interface with their root, especially, all the political stakeholders, to foster peace and brotherly love among the people of Rivers State.

FCTA Proposes N500bn to Resettle 33 Indigenous Villages Olawale Ajimotokan in Abuja The Federal Capital Territory Administration (FCTA) has said that it will require N500 billion to resettle and compensate 33 indigenous communities in the FCT. The Executive Secretary Federal Capital Development Authority (FCDA), Mr. Umar Gambo Jubril, made the disclosure at the FCT Press Corps’ retreat held in Enugu, at the weekend.

Jubril who was represented by the Assistant Director Engineering Services, Richard Yunana Dauda, noted that all the 33 villages are within Phases 2, 3 and part of the Phase 4 of the FCT. He added that over 213,046 people, occupying a land area of 673.20 hectares, spread around 15 districts, are to be resettled.

“The issues of resettlement of original inhabitants and compensations generally have remained the major impediment

to the proper planning and successful implementation of the Abuja project in accordance with the master-plan. The cost of the resettlement schemes, development of the new schemes, provision of infrastructure for the resettlement schemes is in the region of N500 billion,” Jubril said.

He added that the FCTA was considering an alternative funding window in line with the Land Swap Initiative that will substantially complement public funding for the resettlement of the original inhabitants through private investment flows.

According to him, the FCTA envisaged that public private partnership (PPP) funding will enable the complete development and delivery of the resettlement schemes, through the redesign of all affected villages into commercially viable lots for private investment flows.

Edo Govt Bars Interference With Primary School Teachers’ Transfers The Edo State Government has said it will not tolerate interference by highly placed and influential people in the ongoing redistribution and transfer of primary school teachers by the Edo State Universal Basic Education Board (Edo SUBEB).

In a statement signed by the Secretary to the State Government, Osarodion Ogie, the state government said the on-going transfer of teachers in public primary schools was to check the incidence of excess teachers in urban areas, while schools in semi-urban and rural areas are understaffed.

Ogie noted, “This is to inform all public primary school teachers, basic education stakeholders and the general public that the ongoing redistribution and transfer of teachers across the state by the State Universal Basic Education Board (SUBEB), has become a necessity in order to ensure

that all Public Primary Schools Teachers do not congregate in urban schools, leading to excess teachers, while the semi-urban and rural Schools are wholly understaffed.

He advised highly placed and influential people in society to desist from lobbying for teachers who have been transferred to be returned back to urban areas, noting, “It is pertinent to state here that, by rule, teachers are to be transferred every few years, hence government cannot accommodate the voluminous requests to revise these transfers already carried out.”

He insisted that the redistribution of teachers was done to further strengthen the basic education sub-sector, of which Edo Basic Education Sector Transformation (Edo-BEST) is a major tool in the re-enactment of basic education in Edo State.

A WALK FOR SPECIAL CHILDREN...

The Super Special Children during a road walk of about 8.5km organised by Punuka Foundation for Super Special Children at Lekki Phase 1, Lagos...weekend KOLAWOLE ALLI

Falana Raises the Alarm over Diversion of UBE Fund A human rights lawyer and Senior Advocate of Nigeria (SAN), Mr. Femi Falana, has raised the alarm over the alleged diversion of Universal Basic Education (UBE) fund by the state governments.

The senior lawyer said in a statement yesterday that every Nigerian child is entitled to free and compulsory education from primary to junior secondary

school.

“But no state government has seriously implemented the programme,”Falana said.

He accused majority of state governments of refusing to contribute counterpart fund to assess the UBE fund.

“Last year, the federal government accepted my suggestion to deduct outstanding counterpart fund from London/

Paris Club loan refund which accrued to state governments.

The federal government also agreed not to disburse the fund before the last 2019 general election,” he expained.

According to him, UBE currently has N142 billion in its account.

“In addition, two per cent of the consolidated revenue fund of the federal government in the

2019 budget will be added to the UBE fund. I have confirmed that the fund will be disbursed in June 2019. If the fund is judiciously spent, child illiteracy will be substantially reduced in the country. But unless the NFIU, media, community leaders, and the civil society monitor the disbursement, the fund will be diverted once again by state governments,” he added.

Get-rich-quick Mentality Threatening Christianity, Nigeria, Says Okowa Omon-Julius Onabu in Asaba Governor Ifeanyi Okowa of Delta State has lamented that Christianity in Nigeria and indeed the entire Nigerian society are being threatened by get-rich-quick mentality, which has been the root of practically all the vices and evil troubling the churches and the country.

Okowa blamed inordinate ambition for affluence and

material possessions among Nigerians including Christians for the pervasive corruption, growing cases of occultism and ritual killings, kidnapping, armed robbery, advance fee fraud popularly known as ‘419’ or ‘Yahoo-Yahoo’ and other violent crimes in the country.

The governor made these remarks at the first session of the 15th Synod of the Asaba Diocese of the Church of Nigeria

(Anglican Communion) held at St. Paul’s Anglican Church, Ubulu-Okiti in Aniocha South Local Government Area of the state.

Okowa said, “The inordinate desire for wealth and material possessions inevitably results in compromise, covetousness and corruption. This is perhaps our greatest undoing as a nation today as people want to make money at all cost and the result is what we are seeing

all around us – rise in cases of ritual killings, kidnapping, advance fee fraud (popularly known as Yahoo-Yahoo), violent crimes and even occultism in churches.

“While God is committed to meeting our needs, it is also His will that we do not make money making our main pursuit in life. His command remains to seek His Kingdom first and all other things will be added (Matthew 6:33).’’

Enugu Govt Explains Low Level of Water Supply The Enugu State Water Corporation has informed residents of the state that it has completed repairs of the 600mm ductile iron transmission pipeline at Oji River Water Scheme, which got damaged last week, at Obunofia, Ezeagu Local Government Area of the state.

In a statement by its Managing

Director, Mr. Chidozie Eze, the corporation explained that the current low level of water supply to Enugu metropolis was because of power outage at both Ajalli and Oji River Water Schemes following “the heavy rain of the early hours of Thursday”.

Eze disclosed that “the Enugu Electricity Distribution Company

(EEDC) and Transmission Company of Nigeria (TCN) are working to restore power supply to the two schemes, to enable the corporation supply water to Enugu metropolis”.

The managing director therefore reassured residents of the state of normal water supply once the power is restored, “in keeping with the outcome of

the recent town hall meeting on water by Governor Ifeanyi Ugwuanyi and stakeholders and its mandate to ensure adequate water supply to the good people of Enugu State”.

He also reassured that “further measures are being taken to comprehensively address the issue of water supply in the state”.

54

MONDAY MAY 13, 2019 ˾ T H I S D AY

MONDAYSPORTS

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

‘Ighalo’s Injury No Threat to AFCON 2019 Participation’ Duro Ikhazuagbe AFCON 2019 qualifying round top scorer, Odion Ighalo, has dispelled fears over the injury he copped playing for his Chinese Super League club, Shanghai Shenhua at the weekend.

The Super Eagles forward was substituted just 12 minutes into his club’s league clash with John Mikel Obi’s former club, Tianjin Teda with scores at 1-1 and the injury was initially suspected could make

him miss the AFCON 2019 starting in Egypt in barely a month’s time.

But Media Officer of the Super Eagles, Toyin Ibitoye confirmed to THISDAY at the weekend that there is nothing to worry about as the injury is mere hamstring that needs just two to three weeks to heal.

“The injury is nothing serious. We have spoken with Odion and medics on it and we have been assured that it will not affect his participation in the AFCON 2019. We are

sure he will be fit and be back to training any time soon,” stressed the Eagles spokesman.

Ighalo is however certain to miss Shanghai Shenhua’s next league match vs Shandong Luneng, while he also remains

doubtful to face Dalian Yifang and Chongqing Dangdai Lifan.

The three-time African champions will open their camp in Asaba on June 1 and play a friendly against Warriors of Zimbabwe at the

Stephen Keshi Stadium before flying out to Ismaila, Egypt for training.

Nigeria’s final build up game comes up against the Teranga Lions of Senegal on June 16 in Egypt.

After missing the last two editions of Africa’s football showpiece, the Super Eagles will battle Guinea, Madagascar and Burundi in Group D at the competition for a place in the knock out stage.

Coca-Cola, Eva Water Join Okpekpe Race Coca Cola and Eva Water will refresh athletes, officials, spectators and VIPS when the 7th edition of the International Association of Athletics Federations (IAAF) silver label Okpekpe International 10km Road Race holds on May 25, 2019 in Okpekpe, Etsako East Local Government Area of Edo State.

Director of Organisation for the race, Zak Amodu revealed at the weekend that Coca-Cola, and Eva Water, have come on board as Refreshment Partners of the historic race.

“This is a big development for us at Okpekpe to have unarguably the best soft drink and purest processed water join us as we strive to make more history for Nigeria and West Africa,” said Amodu.

“Remember we are the first road race to be granted a label race in Nigeria nay West Africa which means we are the first road running event to be internationally recognised. We didn’t stop there as we also moved a step up to a silver label race and our target now is to go for gold.

“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 in a fortnight.

“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.’’

Amodu reveals Coca-Cola and Eva will be providing cash and all its products in Nigeria for the race.

“We will have 350 cases of Eva Water 50cl (4,200 bottles) supplied by our latest partner.

Some of these will be used along the race routes at intervals of three kilometres from the starting point,” revealed Amodu who added that 30 cases of sparkling PET 35cl (360 bottles)-Coke, Fanta, Sprite will be used to refresh the VIPS at the main venue where race ends and prize presentation holds.”

Amodu added that Coca-cola and Eva will also provide ice for chilling the drinks as well as ice coolers.

“They will also provide us branded ladies (15 in all) for the race. Four of them will be deployed (in pairs) along the race route at intervals of three kilometres and will be handing out Eva water to the runners as they race by.

They will thereafter move to the finishing point to join the other 11 to cheer runners and also serve drinks to the Runners as well as the VIP,” Amodu explained.

Yaro Replaces Williams as Technical Director of NRFF The Nigerian Rugby Football Federation (NRFF) over the weekend announced the appointment of Abubakar Yakubu fondly referred to as Yaro as it’s Acting Technical Director following the removal of Ntiense Williams at the last board meeting.

According to the President Kelechukwu Mbagwu, the decision was taken unanimously by the board to ensure that the long-term objectives of the NRFF were held paramount.

On the choice of Yakubu, the President reiterated that as an ex-international and the current coordinator of the Northern Nigerian Rugby Union, Abubakar was suitably qualified for the role.

“He has the experience, he has the knowledge and the ability to represent the country internationally” said the President.

Yakubu was the founder of the Sabon Gari Rugby Club currently playing in the Northern league.

In a statement signed by Debo Oshundun, the spokesman of the NRFF, the choice of Yakubu is a very popular one because apart from his previous exploits on the rugby field. ‘’He is highly respected for his efficiency and effectiveness with which he coordinated the Northern league (known as the oldest league in the country) during last year’s highly successful rugby campaign.”

Mbagwu, however, advised the rugby loving public as well as all sports authorities in the country to take note of the change of personnel and only deal with the official appointees of the board of the NRFF for any matters pertaining to the sport of rugby going forward.

Super Eagles forward, Odion Ighalo, injured last Friday in the Chinese Super League is to be sidelined for between two and three weeks

NPFL: Lobi Stars Crash Rangers’ Flight in Makurdi Bendel Insurance ease pressure on fans with win over Katsina Utd Lobi Stars defeated Rangers International 1-0 on Match-day 19 of the Nigeria Professional Football League (NPFL) yesterday to climb to No 2 spot of Group A standings.

The Makurdi club is just three points behind leaders Rangers.

Solomon Kwambe got the winning goal for Lobi in the stoppage time of the first half.

The one-all result Enyimba recorded against visiting Wikki Tourists set the People’s Elephant back to third place while MFM FC dropped out of the Top Three after forcing Remo Stars to a 1-1 draw at their Soccer Temple in Agege.

Abdulrahman Bashir converted from the spot in the 13th minute to hand Enyimba the lead. Wikki

Tourists got their equaliser through Promise Danmala on the hour mark.

In Benin City, Coach Monday Odigie and his crew celebrated the 2-1 home win against visiting Katsina United to ease the fear of relegation starring the Edo Arsenal in the face following several draw results.

Adimorama Eze got the brace for Insurance while Tasiu Lawal was on target for Katsina United’s consolatory goal.

In Group B, Akwa United maintained top spot while Kano Pillars usurped the second position of FC Ifeanyi Ubah, who play away to Gombe United today.

Akwa United extended their

lead to four points following a hard fought 1-0 win against Yobe Desert Stars at the Akwa Ibom International Stadium, Uyo. Godspower Aniefiok’s 15th minute strike handed the home team all three points in the game.

The shocking result in Maiduguri, where El-Kanemi have not lost all season, throws them out of the Top Three. Delta Force braved all odds to beat El Kanemi 2-0.

Abia Warriors also pull a crucial away 4-2 win at nearby Okigwe against Heartland FC but remain in the drop zone.

Former champions Plateau United rallied back from a goal down to beat Nasarawa United 2-1 in Jos. Anas Yusuf

gave the visitors the lead in the second minute but the home side bounced back with goals from Oche Odoba and Kabiru Umar.

MATCH-DAY 19 Enyimba Kwara Utd Lobi Stars Insurance Sunshine MFM FC Akwa Utd K’Pillars El-Kanemi Plateau Utd Heartland

TODAY

1-1 0-0 1-0 2-1 1-0 1-1 1-0 2-0 0-2 2-1 2-4

Gombe Utd v

Wikki Rivers Utd Rangers Katsina Utd Tornadoes Remo Stars Yobe Stars Go Round Delta Force Nasarawa Abia Warriors

IfeanyiUbah

Jo Bonfrere to Lead Former Nigerian Stars at The Match for Ambode Nigeria’s Atlanta 1996 Olympic men’s football winning coach, Johannes-Franciscus Bonfrere has confirmed that he will be available to lead former Super Eagles stars in Saturday’s The Match for Lagos State Governor Akinwunmi Ambode.

Simply known as Jo Bonfrere, the Dutch coach was the engine room of Clemens Westerhof’s all conquering 1994 Eagles that qualified Nigeria for her first ever appearance at the FIFA World Cup in USA. One of the Organisers of The Match for Ambode, ex international Waidi Akanni confirmed at the weekend that Bonfrere has accepted the invite to reunite with some of the

players that took the world by storm getting Nigeria ranked fifth best football playing country going to USA’94.

“We have Jo Bonfrere’s assurances already. We have sent his travel tickets and done all necessary bookings to make his stay in Lagos memorable one,” observed the former Nigerian midfielder.

He said Bonfrere’s return to Nigeria would be a reunion with some of his former players who have retired from the beautiful game.

The Dutch coach was June last year presented with the three-bedroom apartment promised him by the Sani Abacha administration for winning the Olympic football

gold medal for Nigeria 22 years after the feat.

He also led Nigeria to the 2000 African Cup of Nations co-hosted by Nigeria and Ghana. Bonfrère led the Nigerian team to the finals, where Eagles lost to Cameroon by penalties.

Bonfere is to be assisted by the duo of former Super Eagles Assistant Coach, Joe Erico and ex international Henry Nwosu ‘The Match’ aimed to celebrate Gov. Ambode’s strides in provision of sports infrastructure for Lagos was moved from Onikan Stadium under reconstruction to Agege Stadium, Lagos.

Former World Footballer

of the Year and President of Liberia, George Weah is listed amongst other retired top African soccer legends like El-Hadji Diouf, Michael Essien, Samuel Eto’O Fills, Abubarkar Titi Camara, Didier Zokora and Yaya Toure, Others include; Richard Kingston, Herita Illunga, Christian Karembeu (former Real Madrid and France World Cup winner), Aaron Mokoena and Mamodu Sissoko among others coming for The Match.

Former Nigerian stars like Samson Siasia, Austin Eguavoen, Nwankwo Kanu and several of their contemporaries are to also feature at The Match.

55

MONDAY MAY 13, 2019 ˾ T H I S D AY

MONDAYSPORTS

Manchester City Captain, Vincent Kompany (centre), is flanked by his teammates on the podium celebrating the club’s victory in the just ended 2018/19 English Premier League season

Man City Crowned Premier League Champions Manchester City retained their Premier League title yesterday and finally ended Liverpool’s magnificent challenge after surviving a scare to come from behind and outclass Brighton at the Amex.

Pep Guardiola’s side started the day knowing victory would ensure they would be the first team to retain the crown since Manchester United 10 years ago - but any slip-up could let in their relentless pursuers Liverpool, who

Van Dijk Wins Premier League Player of the Season Liverpool defender Virgil van Dijk has been named the Premier League Player of the Season following a memorable campaign for the Netherlands international.

Signed for £75 million ($95m) from Southampton in January 2018, Van Dijk has helped revolutionise the Reds’ backline this season as they battled till the final day yesterday for a first league title in 29 years.

The 27-year-old beat off the likes of Raheem Sterling, Eden Hazard and teammates; Mohamed Salah and Sadio Mane to take the prize yesterday after fans’ votes were combined with those of a panel of experts.

Manchester pair Bernardo Silva and Sergio Aguero joined club-mate Sterling on the sevenman shortlist for an award which has previously been won by the likes of Cristiano Ronaldo, Gareth Bale, Wayne Rooney and Thierry Henry.

Van Dijk becomes the second successive Liverpool player to win the prize following Salah’s success in 2017-18 and fourth overall, with Luis Suarez and Michael Owen having also taken home the award during their respective times at Anfield.

It is also the second illustrious gong that the former Celtic centre-back has won in recent times after he was named PFA Player of the Year in the closing weeks of the campaign.

In total, Van Dijk has played in each of Liverpool’s 38 Premier League matches this

term, helping them to 20 clean sheets while scoring four goals at the other end of the pitch.

Those performances helped Liverpool to keep the pressure on defending champions Man City at the top of the table heading into the final day of the season yesterday.

Victory for Pep Guardiola’s side at Brighton saw them crowned English Premier League champions for the fourth time in the Premier League era.

Jurgen Klopp’s side hosted Wolverhampton Wanderers on the final day of the campaign after a memorable season that saw them defeated just once in the league and accrued a record-breaking 97 points from their 38 matches.

Liverpool, the five-time European champions could still end the year with silverware having booked their place in the Champions League final.

Klopp will take his squad to Madrid for the Champions League final on June 1 following their remarkable comeback against Barcelona in the semifinals, with Liverpool winning 4-0 in the second leg following a 3-0 defeat at Camp Nou six days earlier.

They will face first-time finalists and fellow Premier League outfit Tottenham at the Wanda Metripolitano after Mauricio Pochettino’s side pulled off their own come-from-behind win to knock out Ajax in the last four.

were hosting Wolves at Anfield.

And when Glenn Murray gave the Seagulls the lead with a glancing header from a corner after 27 minutes, anxiety rose in Sussex and hopes rose at Anfield that Liverpool might win their first title in 29 years.

Manchester City’s response was instant, emphatic and ruthless as they swept Brighton aside to end the campaign with a record 14 successive league victories, making it 32 in all, which equals the record they set last season.

Sergio Aguero pounced in the area to equalise inside 83 seconds and Aymeric Laporte arrived unmarked on the end of a corner to put City ahead before half-time.

Brighton had no way back and City completed the formalities in spectacular style as Riyad Mahrez fired high past Mat Ryan just after the hour and Ilkay Gundogan’s spectacular 72nd minute free-kick sparked wild celebrations.

City may not have repeated the 100 points that won the title last season but this was arguably an even sweeter success given the season-long battle with Liverpool.

They will now aim to complete a unique domestic treble when

they face Watford in the FA Cup Final at Wembley on 18 May. City knew their task at kick-off here in Sussex - but whether it was a combination of nerves or unwitting complacency, it took the fright of going behind to kick them into action.

City were careless and lacking in urgency until Murray bundled in a near-post header.

It was the signal for the last assault on the title.

Aguero swiftly put the show back on the road and once Laporte escape the attentions of Murray to head home, this was job done.

It was a fitting decoration that the final two goals of City’s season were thunderous efforts from Mahrez and Gundogan, demonstrating the quality that is spread so liberally through this squad.

Brighton, to their credit, did not simply stand aside and allow the party to take place: Chris Hughton’s side were organised and resilient but once they levelled matters up, City were irresistible.

And even the home fans accepted the inevitable by the final whistle, rising to first give a standing ovation to City captain Vincent Kompany when he was

substituted and then to Guardiola and his team once referee Michael Oliver had sounded the final whistle that confirmed they were were Premier League champions for the fourth time and for the sixth time in total.

City’s achievement, completed with that astonishing 14-game win towards the winning post, is underscored by the fact they saw saw off a Liverpool side that lost just once this season - to City - and amassed 97 points.

Final Premier League Table Team Man. City Liverpool Chelsea Tottenham Arsenal Man. United Wolves Everton Leicester West Ham Watford Crystal P. Newcastle B’mouth Burnley S’pton Brighton Cardiff Fulham Huddersfield

Pl 38 38 38 38 38 38 38 38 38 38 38 38 38 38 38 38 38 38 38 38

W 32 30 21 23 21 19 16 15 15 15 14 14 12 13 11 9 9 10 7 3

D 2 7 9 2 7 9 9 9 7 7 8 7 9 6 7 12 9 4 5 7

L 4 1 8 13 10 10 13 14 16 16 16 17 17 19 20 17 20 24 26 28

F 95 89 63 67 73 65 47 54 51 52 52 51 42 56 45 45 35 34 34 22

A 23 22 39 39 51 54 46 46 48 55 59 53 48 70 68 65 60 69 81 76

GD 72 67 24 28 22 11 1 8 3 -3 -7 -2 -6 -14 -23 -20 -25 -35 -47 -54

Pts 98 97 72 71 70 66 57 54 52 52 50 49 45 45 40 39 36 34 26 16

Top Scorers Share Golden Boot Award The English Premier League Golden Boot for the highest goals scorer witnessed three players - Sadio Mane, Mohamed Salah and PierreEmerick Aubameyang all finishing level on 22 goals this season.

Unlike the World Cup where the Golden Boot is decided by assists if a number of scorers are level, the Premier League instead shares it between the players.

It happened previously when Chris Sutton, Michael Owen and Dion Dublin shared it in 1997-98 and then again in 1998-99 when Jimmy Floyd-

Hasselbaink, Michael Owen and Dwight Yorke shared the spoils.

This year, three players Salah, Mane and Aubameyang - all on 22 goals, meaning they will share it between them.

Sergio Aguero finished one goal back on 21 missing out on another gong, and Salah picks up the golden boot award for a second year running despite having what some have considered a less than impressive season.

Aguero could only manage one on the final day while Salah failed to find the net with Mane and Aubameyang

both grabbing doubles to draw level at the top of the chart.

But despite missing out on the Golden Boot Aguero was

crowned a Premier League champion for the second year in a row and for the fourth time overall.

TOP SCORERS Mohamed Salah (Liverpool)

– 22 goals, 8 assists

Pierre-Emerick Aubameyang (Arsenal) – 22 goals, 5 assists Sadio Mane (Liverpool)

– 22 goals, 1 assist

Sergio Aguero (Manchester City)

– 21 goals, 8 assists

Jamie Vardy (Leicester City)

– 18 goals, 4 assists

Raheem Sterling (Manchester City)

– 17 goals, 11 assists

Harry Kane (Tottenham Hotspur)

– 17 goals, 4 assists

Monday May 13, 2019

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Price: N250

MISSILE Ndume to APC

“The party should be law abiding. I am expecting the party to rescind its decision. In appropriate circumstances, even the Supreme Court rescinds its decisions. In the interest of the party and the nation, the party should provide a level-playing field for all aspirants to contest for any leadership positions of their choice” – Senator representing Borno South senatorial district, Ali Ndume, calling on his party, the APC to give its members aspiring for leadership positions in the ninth Senate a level-playing field.

IJEOMANWOGWUGWU BEHIND THE FIGURES

ijeoma.nwogwugwu@thisdaylive.com

APC’s Use and Dump Syndrome H is Royal Highness, Muhammadu Sanusi II of the House of Dabo and Emir of Kano, is quite thin-skinned. He is very adept at excoriating, rightfully or otherwise, any individual or institution that falls out of line. But he does not like being at the receiving end of the slightest form of criticism. Twice, I have been the target of his sharp rebuke and haughtiness over critical articles that I had written about him on this page during his tenure as governor of the Central Bank of Nigeria (CBN). The first time, I took it in my stride and chose to ignore his reprimand. The second time, I decided to give him a wide berth while he remained at the central bank. For well over a year as editor of this newspaper, if I needed any story or information verified from the CBN, I assigned our Senior Money Market Correspondent at the time to interface with Sanusi.

That arrangement worked to a large extent until Sunday, December 15, 2013, when I was instructed by my Chairman and Editor-in-Chief, Nduka Obaigbena, who knew that I had been avoiding Sanusi like the plague, to meet with him as he was eager to respond to a harsh rejoinder that had been issued by the Nigerian National Petroleum Corporation (NNPC). Two days earlier, NNPC had come out swinging at Sanusi for alleging in a letter that he had written to former President Goodluck Jonathan that the state-run oil firm had failed to remit or had withheld a whopping $49.8 billion from the treasury between January 1, 2012 and July 31, 2013.

In the damning letter, which the former CBN governor later confessed was leaked by the then Rivers State governor, Rotimi Amaechi, Sanusi had claimed that the “value of crude oil export proceeds, based on the documentation received from pre-shipment inspectors, had shown that between January 2012 and July 2013, NNPC lifted 594,024,107 barrels of crude valued at $65,332,350,514.57.

Of this amount, NNPC repatriated only $15,528,410,098.77, representing 24 per cent of the value, implying that the NNPC had not accounted for and repatriated to the Federation Account an amount in excess of $49.804 billon of the value of oil lifted in the same period”. Expectedly, the media and a majority of Nigerians were outraged and took Sanusi’s charge to mean that some $50 billion had been stolen from NNPC. Reacting, the oil corporation said Sanusi’s allegation was unfounded and baseless; informing him that NNPC was not the sole player in the oil and gas value chain. It reminded him that the CBN, Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) met regularly to reconcile liftings, sales and remittances of oil proceeds. “In fact, our data was compiled from signed up documentation. I will not say the CBN was not aware because they are always at the meetings and they also sign up the documentation and reconciliation documents,” a summary of the statement by an NNPC spokesman had said at the time. NNPC proceeded to educate Sanusi on equity crude, royalty oil, tax oil, volume for third party financing, and the Nigerian

Sanusi

Petroleum Development Company (NPDC) equity volume, which all made up crude oil liftings as well as the government institutions responsible for collecting the proceeds and remitting same to the treasury. It went on to accuse him of turning his allegation into a political instrument.

It was in a bid not to be upstaged and portrayed as someone who was ignorant about how remittances were made in the oil and gas sector that Sanusi and I met that fateful Sunday afternoon so that he could clarify why he had written the letter to the former president. I recall vividly that during our conversation, Sanusi laid considerable emphasis on NPDC – the NNPC exploration and production subsidiary – insisting that the company was the culprit in the value chain that had failed to remit proceeds to the Federation Account. I reminded him that if he was pointing to NPDC, he had made a huge mistake because its share of oil production was too small to account for the $49.8 billion that he had alleged had not been remitted to the federation.

Anyway, as editor, my responsibility was to report his side of the story the next day.

I kept my misgivings to myself.

A few days after that encounter, the then Minister of Finance, Dr. Ngozi Okonjo-Iweala, her counterpart at the petroleum ministry, Mrs. Diezani Alison-Madueke, Sanusi and officials of the CBN, NNPC, DPR and FIRS met to reconcile the revenue shortfall. After the meeting, they all appeared before an ad hoc Senate committee that had been set up to investigate Sanusi’s allegation.

At the hearing, while Okonjo-Iweala and Alison-Madueke pointed out that they had established a revenue shortfall of $10.8 billion, when it was Sanusi’s turn to address the committee, he said CBN was of the view that there was a shortfall of $12 billion.

Not stopping at the new figure established by the central bank, he added that they were still in the process of reconciling that figure, which excluded the export sales tax of $20 billion.

As I watched Sanusi on television come up with the new figure of $20 billion, I realised

that he had become a moving target. It was important for him to continue to shock and awe. The sum of $49.8 billion was obviously ludicrous. Perhaps he deemed $10.8 billion or $12 billion a bit on the low side. So he needed to pump up the volume to the tune of $20 billion to feed to the public as having gone up in smoke.

Unfortunately, his narrative stuck like a leech and became folklore. It was made easier by the fact that the administration at the time was deemed extremely corrupt, which was worsened by the rising insurgency in the Northeast. Accordingly, anything that was thrown at the generality of Nigerians was swallowed hook, line and sinker. It was also the perfect elixir that politicians in the opposition needed. Naturally, they ran with it and kept re-spinning the yarn of the “missing” $20 billion, even after a forensic audit by PricewaterhouseCoopers (PWC) and subsequent audits showed that Sanusi had told a very tall tale.

Sanusi was to pay a heavy price for all the figures that he had tried to keep afloat. A few weeks after the scandal broke, Jonathan unceremoniously suspended him from his exalted position at the CBN. His humiliation, nonetheless, was short-lived. As a reward for giving them the ammunition that they needed to bring down Jonathan, former Kano State governor, Rabiu Kwakwanso, following the urging of leaders of the All Progressives Congress (APC), enthroned Sanusi, a prince of the Kano emirate, the Emir of Kano.

But it was only a matter of time before he started to take on the government at the centre and the northern establishment over flawed foreign exchange management and economic policies as well as rising poverty in the North respectively. Irrespective, it would have been fair to assume that after Sanusi’s role in catapulting the APC to power he would have remained their golden boy.

But that is not the case today. Kwakwanso’s successor, Abdullahi Ganduje, with whom Sanusi has had an uneasy relationship, is cutting the emir down to size with the fractionalization of the Kano Emirate and may very well depose him with a mere stroke of the pen. What is Ganduje’s grouse? He’s had it with the outspoken and overly critical Sanusi of his administration and cannot live with the fact that the Kano traditional ruler figuratively crossed carpet to support the opposition Peoples Democratic Party (PDP) in the last general election. Add to this the centuries old Fulani (Sanusi is of the ruling Fulani clan), Hausa dichotomy in Kano, Ganduje has simply re-opened a festering, old wound capable of infecting the rest of the North.

Unsurprisingly, Ganduje has the backing of the powers that be at the centre, as he would not have dared to balkanize the Kano Emirate without the go ahead from Abuja. But should Ganduje forge on by creating new emirates in Kano and whittle down Sanusi’s sphere of influence or insist on his ouster, the governor’s actions will definitely lead to his undoing. History will neither forget, nor forgive him. As polarizing as Sanusi is, the governor must realise that he will not just be destroying

the individual who sits atop the Kano throne but one of the strongest and most treasured heritages in Africa, all in a bid to exact revenge for the emir’s support of the PDP and his acerbic tongue. It cannot be over-emphasized: Ganduje’s ill-advised goal to silence Sanusi could trigger a chain of non-reversible events. He will also be handing Sanusi the ammunition to nail his coffin, if he (the emir) is free of the vestiges of the throne.

Besides, insofar as he is not turning the truth on its head, Sanusi, like any Nigerian, should not be hounded and gagged for speaking truth to power. There is nothing in the Nigerian Constitution that bars traditional rulers in this country from taking a political stance and criticizing persons in government. Traditional rulers are first and foremost human and like all humans are political animals. So why should a traditional ruler not be able to turn his back on an ineffective and corrupt politician such as Ganduje and support one who he deems a better alternative for his people. As long as he is not inciting his subjects to civil disobedience or to take up arms against constituted authority, Sanusi should feel free to criticize and admonish corrupt and poor-performing politicians.

The irony is that it is not just Sanusi who once aided the APC that is reeling from the persecution of the administration. The Economic and Financial Crimes Commission (EFCC) has already signposted its intention to go after the Senate President, Dr. Bukola Saraki, who lost his re-election bid to the Senate. Saraki, who in 2011 exposed the fuel subsidy rot at NNPC and later led five governors of PDP to the APC, is now public enemy number one. The bigger irony is that the degree of fraud in the subsidy scheme that he exposed in NNPC eight years ago is child’s play in comparison to the ongoing mismanagement and theft at NNPC in the name of subsiding the petrol that we consume.

According to a recent World Bank report, the calculations for fuel subsidy are currently based on heavily inflated fuel consumption estimates of 60-70 million litres per day, with the fiscally severely constrained Nigerian government effectively subsidising neighbouring countries’ petrol consumption as some of the fuel is informally re-exported through the porous borders. Yet, when it suited members of the APC, Saraki’s expose in 2011 on fuel consumption and the subsidy scheme was the launch pad used by proponents of Occupy Nigeria, sponsored by the opposition, to denigrate the Jonathan administration barely five months later.

It is obvious that the use and dump syndrome has become APC’s stock in trade. The party’s modus operandi is to get its members and sympathisers to sell falsehoods and conjure up mind-boggling figures of grand larceny aimed at exciting a gullible public. But it will brook no nonsense from these same persons when they dare to challenge the status quo. Sanusi and Saraki are just two of the metaphorical reindeers caught in the headlights. Many more will follow.

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