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Airtel Seeks to List on Nigerian Stock Exchange Considers $1bn London listing Emma Okonji with agency report Airtel Africa Ltd, a subsidiary of Indian telecoms group, Bharti Airtel Ltd, is considering

a stock market flotation in London, designed to expand its data and mobile money services across Africa. The telecoms company has also indicated interest to list on

the Nigerian Stock Exchange (NSE), which is one of the 14 countries where it currently operates. When listed on the NSE, Airtel will become the second

telecommunication company in Nigeria to be so listed. Nigeria’s biggest telecommunication by market share, MTN, on May 16, 2019 listed 20.35 billion shares on

the Nigerian bourse at N99 per share. Airtel Africa is aiming to raise about $1 billion in a June equity offering, a source close to the deal said.

Airtel operates in 14 African markets, including Democratic Republic of the Congo, Kenya, Nigeria, Rwanda, Seychelles, Continued on page 10

INEC Begins Consultations on Electoral Reform in July... Page 10 Wednesday 29 May, 2019 Vol 24. No 8815. Price: N250

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Private Sector Operators Set Agenda for Buhari’s Second Term Chris Uba

FORGING STRATEGIC ALLIANCE... L-R: Managing Director, Ecobank Nigeria, Mr. Patrick Akinwuntan; Non-Executive Director Ecobank Transnational Incorporated, Mr. Bashir Ifo; Group Company Secretary, Cisse Madibinet; Group Chief Executive Officer, Mr. Ade Ayeyemi; Non-Executive Director, Mr. Tei Mante; Chairman, ETI, Mr. Emmanuel Ikazoboh; President Muhammadu Buhari; Chief of Staff to the President, Mallam Abba Kyari; Minister of Information and Culture, Alhaji Lai Mohammed; Central Bank of Nigeria Governor, Mr. Godwin Emefiele; Non Executive Directors of ETI Aasim Qureshi, David O’Sullivan and Mfundo Nkuhlu, during a courtesy call by the Board of ETI on the president at the State House, Abuja… yesterday

As President Muhammadu Buhari begins his second term in office today, members of the Organised Private Sector (OPS) have identified policies his administration must pursue to fast-track economic growth and prosperity in the next four years and beyond. Top on the agenda, according to the business operators who spoke in separate interviews with THISDAY yesterday, is for Continued on page 10

FG Slashes JV Stake to 40% to Boost Revenue Directs finance ministry to liquidate 'unencumbered' recovered assets May borrow more to fund deficit Works, Housing; Transportation and Agric Ministries top distribution list Iyobosa Uwugiaren, Ndubuisi Francis and James Emejo in Abuja The federal government has taken some steps to boost revenue receipts in the face of the state of the nation’s fragile economy.

One of the steps is a directive by President Muhammadu Buhari for the immediate commencement of the restructuring of the Joint Venture (JV) oil assets to reduce the government’s shareholding to 40 per cent within the 2019 fiscal year.

The Nigerian National Petroleum Corporation (NNPC), which manages the nation’s oil sector, owns a 55 per cent interest in its joint venture with Royal Dutch Shell and 60 per cent stakes in others. Other oil majors, including

Chevron and ExxonMobil, also operate joint ventures with the NNPC. Minister of Budget and National Planning, Senator Udo Udoma, unveiled yesterday in Abuja, the details of efforts to boost the nation’s revenue while

giving a breakdown of the 2019 budget. He said the president had also directed the Ministry of Finance to liaise with relevant authorities to liquidate all recovered 'unencumbered' assets. Apart from huge recoveries

in local and foreign currencies, the Buhari administration has made several noncash recoveries, including farmlands, plots of land, completed and uncompleted buildings, vehicles and

UNHCR: Violence Forces 20,000 Nigerians into Niger… Page 8

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UNHCR: Violence Forces 20,000 Nigerians into Niger Buhari orders service chiefs to halt inflow of arms Omololu Ogunmade in Abuja and Ejiofor Alike in Lagos with agency report The recent spike in violence in North-west has forced an estimated 20,000 people to seek safety and security in Niger Republic since April, the Geneva-based United Nations High Commission on Refugees (UNHCR), has said. UNHCR gave the figure as the UN General Assembly yesterday declared August 22 as the International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief. UNHCR, the UN refugee agency, said it was concerned about deteriorating security in Nigeria and was working closely with authorities in Niger Republic to provide basic assistance and register the new arrivals. The spokesman of the UN agency, Babar Baloch, said in a statement yesterday that more than 18,000 people had already gone through the initial registration process so far. The statement added that the latest upsurge in violence is not linked to Boko Haram. It said: “People are reportedly fleeing due to multiple reasons, including clashes between farmers and herders of different ethnic groups, vigilantism, as well as kidnappings for ransom in Nigeria’s Sokoto and Zamfara States. “People leaving Nigeria and arriving in Niger’s Maradi Region, speak of witnessing extreme violence unleashed

against civilians, including machete attacks, kidnappings and sexual violence. The majority of the new arrivals are women and children.� The UN body added that the ongoing Boko Haram insurgency has already spilled over into Niger, where it has affected its Diffa region since 2015. According to UNHCR, the region currently hosts almost 250,000 displaced people – including refugees from Nigeria and locals, being displaced inside their own country. “Niger continues to be a leading regional example in providing safety to refugees fleeing conflict and persecution in many countries. It has kept its borders open for refugees despite the ongoing violence in several regions bordering Nigeria, Mali and recently Burkina Faso,� UNHCR said. The agency added that many of the newly arrived are located close to the Nigerian border, where there remains a high risk of armed incursions. UNHCR with sister UN agencies and partners is discussing with the government the possibility of relocating them into local towns and villages further inland. “As well as providing aid to Nigerian new arrivals, UNHCR also plans to support host families, who despite lack of adequate resources and access to basic services, have always shown solidarity towards the displaced and welcomed people into their homes. “Since the beginning of 2018,

violence within the Diffa region perpetrated by elements of Boko Haram has also significantly escalated with a record number of civilian casualties and unprecedented secondary movements within the region. “Niger is currently hosting over 380,000 refugees and asylum seekers from Mali and Nigeria as well as its own internally displaced population. The country has also provided refuge to some 2,782 asylum seekers airlifted from insecurity in Libya, while awaiting durable solutions,� UNHCR said. Meanwhile, the UN General Assembly yesterday declared August 22 as International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief. This followed the adoption of draft Resolution A/73/L85 tabled by Poland with support from several other countries. The News Agency of Nigeria (NAN) reported that the supporting states include the core group consisting of Brazil, Canada, Egypt, Iraq, Jordan, Nigeria, Pakistan and the United States.

Buhari Orders Service Chiefs to Halt Inow of Arms Meanwhile, President Muhammadu Buhari yesterday in Abuja gave fresh directives to service chiefs, asking the heads of security agencies to properly police the country's borders and put paid to the influx of arms

into the country. The president who gave this directive while meeting with heads of the security agencies in the State House, also expressed happiness over the progress made so far in the fight against criminal activities. The meeting was the third the president would hold with service chiefs and other heads of security agencies including the Inspector-General of Police, Mr. Mohammed Adamu, in the last one month. Briefing journalists after the meeting, the Chief of Naval Staff, Rear Admiral Ibok-Ete Ibas, said the meeting appraised security situations in the country while the security chiefs briefed the president on recent security situations in the country. According to him, the president directed them to bridge the gaps created by porous borders and end illegal flow of arms into the country. Describing policing Nigeria's borders as a daunting task, which would take divine intervention to effectively address, Ibas said new strategies would have to be evolved, including air surveillance of such borders. He said: "Another area of concern was the arms inflow into the nation. It is only God perhaps that can police such an expanse of border that we have. That is an area that Mr. President has directed that we do all that we can to ensure that we block the gaps and those security areas that we also need to address. "Solution of course is to identify other means and

strategies of addressing the border’s porous nature. The military (of course) responsibility is to defend the country but there are other agencies of government that are responsible for manning the various border openings. An option perhaps is the surveillance in the air and other things are being considered." The naval boss also said the president expressed happiness over the briefing he received from the service chiefs on the progress made in the battle against banditry, kidnap and robbery which have been ravaging the country. According to him, the success was spurred by the synergy among various security outfits which he said was demonstrated in the sharing of intelligence as well as voluntary disclosure of information on security crisis by members of the public. He explained that yesterday's meeting was called by the president against the background of his inauguration for a second term in office today to reappraise issues discussed in the last meeting and the progress made since then. He added: "I’m sure you will recall we met just about two weeks ago but the president had to call for this meeting, given that tomorrow he will be sworn in. Of course, basically the meeting was to further reappraisal on the actions taken after the last meeting. "You all recall too the spate of insecurity particularly armed banditry, kidnapping and robbery had been specifically on the

increase in some parts of the country. The briefings were to the effect that we had better responses from the military and security agencies in those areas that we have earlier mentioned "This is particularly because of the improved synergy amongst the various agencies that are providing information and intelligence. Furthermore, we have also had members of the public voluntarily offering information to the areas of the security challenges. "I think on the whole Mr. President was happy with the security situation, the efforts that the armed forces and the security agencies are carrying out to tackle the security challenges." Asked if the meeting was a valedictory forum for the service chiefs whom Nigerians have been calling for their ouster, Ibas said he was not sure it was a valedictory call, saying he was only sure that the president would take an oath of service for a second term today. "Valedictory? I’m not too sure. But I do know that the inauguration of Mr. President is tomorrow." Also asked how prepared the security agents were for today's inauguration, Ibas said a committee had been inaugurated to handle the task and it is well prepared for the task. "The committee that is inaugurated to handle that has briefed and I think they are prepared in all that. They have a sub-committee that is responsible for security as well," he stated.

N110 billion were earmarked for debt service, which is 31 per cent of projected revenue and sinking fund respectively. For the revenue projections, oil revenue is expected to account for 52.7 per cent of total revenue while company income tax (CIT) represented 11.6 per cent as well as the joint venture equity restructuring which accounted for 10.1 per cent. Also, the Nigeria Customs Service is expected to contribute 4.4 per cent to the revenue stream while receipts from value added tax (VAT) will account for 3.3 per cent. Grants and donor funding represented 3.0 per cent while fund recoveries accounted for 2.9 per cent of projected revenue for 2019, including 1.2 per cent from signature bonus, 9.0 per cent from independent revenue and 1.8 per cent from other activities. The minister put the projected spending in 2019 at N8.92 trillion, which is N90.3 billion more than the initial proposal. The overall budget deficit of N1.918 trillion, representing 1.37 per cent of GDP will be financed mainly by borrowing N1.605 trillion split equally between domestic and foreign borrowings. This will translate to N802.82 billion each from local and external borrowing platforms. For the capital component of the budget, the Ministry of Power, Works and Housing got the lion share of N394.91 billion, followed by the Ministry of Transportation with N179.38 billion and Defence, N159.23 billion while the Ministry of Agriculture and Rural Development trailed the

other three with N107. 22 billion. For recurrent expenditure, the Ministry of Interior led the pack with N564.22 billion followed by the Ministries of Defence and Health with N430.83 billion and N315.72 billion respectively. Of the total statutory transfers for the 2019 budget, the sum of N128 billion was provisioned for the National Assembly, Universal Basic Education--N112.47 billion, National Judicial Council--N110 billion, Niger Delta Development Commission-- N100.19 billion, Independent National Electoral Commission (INEC)-- N45.50 billion, Public Complaints Commission--N4.40 billion and National Human Rights Commission--N1.5 billion. In addition, some of the projects in the 2019 budget include education where a total of N4.64 billion was earmarked for the provision of security infrastructure in 104 colleges as well as payment of 5,000 federal teachers' scheme allowance. The sum of N38 billion was budgeted for SDGs intervention programmes/conditional grants as well as N11.3 billion for other SDG projects. In the health sector, the sum of N300 billion was earmarked for the establishment of chemotherapy centers in higher institutions of learning including UBTH, UITH, ABUTH, UMTH, OAUTH, UNTH, UPTH, FMC Owerri and FMC Abeokuta. Also, N51.22 billion was provisioned for the implementation of the National Health Act; N21.25 billion for Global Alliance for Vaccine and immunisation (GAVI) /

Immunisation; N7.63 billion for procurement of routine immunization (RI) vaccines and devices as well as N3.50 billion for counterpart funding including global fund/health. Others are N1.26 billion for the procurement of non-polio supplementary immunization activity (SIA) vaccine and N523 million for procurement of kits and commodities for community health influencers.

FG SLASHES JV STAKE TO 40% TO BOOST REVENUE maritime vessels, among others since May 29, 2015. While some of the 'recovered' assets are already subjects of litigation in the law courts, Buhari, however, has directed the finance ministry and other relevant authorities to take immediate action to liquidate the ones that are not in dispute. Udoma said these steps were necessary to bolster government revenue, which has continued to be a drag on budget performance yearly. He said consequent upon the presidential directive on oil assets; the Department of Petroleum Resources (DPR) is currently concluding efforts on the collection of due oil licence and royalty charges. The minister stated that anticipated funds from the JV assets had already been pencilled down to fund critical capital projects in the budget. According to him, given improved oil prices and production level, the NNPC is to commence immediately the recovery of all outstanding obligations, including those due from one of its subsidiaries, the Nigerian Petroleum Development Company (NPDC), which it agreed to pay since 2017. Udoma said apart from the restructuring of JV oil assets and the liquidation of all unencumbered recovered assets, the current administration has in place other initiatives to improve revenue generation. According to him, these are through sustained efforts to improve public

financial management via the comprehensive implementation of the Treasury Single Account (TSA), Government Integrated Financial Management Information System (GIFMIS) and the Integrated Payroll and Personnel Information System (IPPIS). The minister said following the increase in the size of the 2019 budget to N8.92 trillion from N8.83 trillion by the National Assembly, the federal government might raise the level of borrowing within the fiscal period to fully fund the budget. The minister said the N90.33 billion increase in the Appropriation Act also translated to an overall increase of N58.83 billion in budget deficit. According to him, the National Assembly "inexplicably" cut the proposed borrowing from N1.649 trillion to N1.605 trillion, thereby creating an overall unfunded deficit of N100. 83 billion. He lamented that although executive revenue assumptions were generally approved, and adopted by the lawmakers, there were still "unexplained" increases totalling N31.5 billion on some non-oil revenue lines. He also said allocations for some executive projects based on critical appraisal and linked to the ERGP were cut while many new projects, mainly constituency type, were introduced by the parliament. However, he said the 2019 budget would continue the reflationary and consolidation policies of the 2017 and 2018 budgets, which helped return the economy on the path of growth.

He said allocations to ministries, departments and agencies of government (MDAs) were guided by the three core objectives of the Economic Recovery and Growth Plan (ERGP), including restoring and sustaining growth; investing in people and building a globally competitive economy. The minister added that the budget had been prepared on the zero based budget (ZBB) principles, noting that projects are linked to government policies and overarching strategic priorities. However, he said key assumptions and macroeconomic framework of the 2019 budget were predicated on oil production of 2.3 million barrels per day (mbpd), oil benchmark of $60 per barrel and exchange rate of N305 to the US dollar. According to him, oil prices are projected to average at least $66 during the year. He said Buhari had also ordered the NNPC to explore all possible measures to achieve the targeted volume in oil production. Other key assumptions of the budget included GDP growth rate of 3.01 per cent, inflation rate of 9.98 per cent and nominal consumption of N119.28 trillion as well as nominal GDP of N139.65 trillion. According to Udoma, the breakdown of the budget includes a statutory transfer of N502 billion, oil revenue projection of N3.69 trillion, non-oil revenue of N3.31 trillion, MDAs capital expenditure of N2.09 trillion and recurrent expenditure of N4.07 trillion. The sums of N2.14 trillion and

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TOP GAINERS ETI UBA COURTVILLE ACCESSBANK UACN TOP LOSERS ETERNA PZ NAHCO

NGN NGN 1.10 12.10 0.55 6.25 0.02 0.23 0.55 6.35 0.60 6.95 NGN 0.35 3.65 0.40 8.10 0.12 3.18 FLOURMILLS 0.40 13.35 FIDELITYBANK 0.02 1.77 HPE Nestle Nig Plc â‚Ś1,450.00 Volume: 344.309 million shares Value: N7.271 billion Deals: 4,456 As at yesterday 39/5/19 See details on Page 37

% 10 9.3 9.5 9.4 9.4 % 8.7 4.7 3.6 2.9 4.1

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INEC Begins Consultations on Electoral Reform in July Vows to revisit previous committees’ reports Adedayo Akinwale in Abuja The Independent National Electoral Commission (INEC) is to begin a national conversation on the management of electoral process with various stakeholders over the next two months. The plan is to reform the electoral process to discourage the do-or-die attitude of political actors, which was brazenly exhibited during the 2019 general election, as well as to address the inability of the country’s laws to penalise electoral offenders. INEC Chairman, Prof. Mahmood Yakubu, spoke on the planned engagement with stakeholders yesterday in Abuja at a meeting with the Resident Electoral Commissioners (RECs), the first meeting

since the conclusion of the 2019 elections. The commission also said recommendations from the national conversation would lead to the reformation of the electoral process, while also taking into consideration the reports of previous committees on electoral reform. Yakubu said the planned engagement was in fulfilment of the commission’s promise to review all the processes and procedures for the 2019 general election in full consultation with stakeholders, stressing that the commission is convinced that there should be a major national conversation on the management of the country's electoral process. He said the process must be qualitatively different from what was done in the past

Yakubu and benefit from all previous efforts at reform. He added that yesterday’s meeting with the RECs was the first in the series of engagements within the commission and with all stakeholders. He said: “We are convinced that until we get our electoral

process on the right, consistent and progressively positive trajectory, our efforts at nationbuilding and promoting peace and progress shall remain epileptic. No doubt we have made progress since 1999, but a lot of work still lies ahead. “Over the next two months, the commission plans to engage with all stakeholders, beginning with a root and branch review involving our own officials at local government and state levels, ranging from Electoral Officers (EOs), Administrative Secretaries (ASs), Heads of Department (HoDs) and representatives of ad hoc officials engaged for elections from presiding officers at polling unit level to collation and returning officers. “We shall then follow it up with consultations at the

national level with political parties, the security agencies, civil society organisations, the media, development partners, traditional and religious organisations, the national and local peace committees and professional groups accredited to observe elections. Details of the series of activities and timelines will be finalised at this meeting and made public immediately.� According to him, the conversation will be structured around the following critical issues among which are political parties - number, mode of registration, internal democracy, accreditation of party agents, and logisticsmovement and security of personnel and materials. Others are ICT- related issues ranging from the configuration

and deployment of technology, including the recruitment, training and deployment of technical support. Yakubu said there was need to have an informed conversation on the use of technology to deepen the electoral process. The conversation, Yakubu said, would also cover election security focusing on the relationship between INEC and the security agencies, the effectiveness and impact of election risk assessment methods, deployment and conduct of security personnel; including, the electoral legal framework and the necessity for a comprehensive, dispassionate and early conclusion as well as the passage of any constitutional and electoral act amendments.

Some of the projects in agriculture include N15.66 billion for the promotion and development of the value chain across more than 30 different commodities. Meanwhile, N500 billion was also set aside for the federal government Special Intervention Programmes, including social housing, government economic empowerment programme, N-Power job creation programme and the conditional cash transfer, among others.

The sum of N10 billion was also earmarked as take-off grant for the North East Development Commission; N65 billion for reintegration of transformed ex-militants under the Presidential Amnesty Programme as well as N45 billion for federal initiative for North-east (Pilot counterpart contribution). Udoma, however, stressed that Nigeria faced significant challenges with respect to revenue generation, adding that the issue was being addressed vigorously by

government. He said government would continue to create enabling environment for private sector to increase their investment and contribute significantly to job creation and economic growth. He added that the 2019 budget of "continuity" should further reposition the economy on the path of higher, inclusive, diversified and sustainable growth and contribute to lifting significant numbers of Nigerians out of poverty.

populations, low customer and data penetration and inadequate banking infrastructure. These fastgrowing markets provide us a great opportunity to grow both our telecom and payments businesses.� Indian owner, Bharti Airtel, last year ditched the Initial Public Offering (IPO) of African mobile phone mast firm Helios Towers, without giving any reason.

A source said at that time the expected IPO price was too low for shareholders who had been valuing the firm at as much as $2.8 billion, according to Reuters. Proceeds from the European IPO market have fallen to their lowest in more than a decade in the first three months of 2019, Reuters quoted data from Refinitiv as revealing. Airtel Africa’s debut on

the London market would follow that of Middle Eastern payments companies, Finablr and Network International, which started trading over the past couple of months. The company has appointed JP Morgan, Citigroup Inc, BofA Merrill Lynch, Absa Group Limited, Barclays Bank PLC, HSBC, BNP Paribas, Goldman Sachs International and Standard Bank Group Ltd as advisers.

Tax Board at all levels of government. On his part, the Director General of Enugu Chamber of Commerce Industry, Mines and Agriculture (ECCIMA), Dr. Emeka Okereke, said in addition to giving serious attention to security, the president should address the deplorable state of infrastructure in the Southeast. Okereke said businesses were collapsing in the Southeast because of the harsh environment in the country. He said Buhari should use his second term in office to improve on the Ease of Doing Business; a system that tracks bottlenecks in the business environment and suggests ways to address them. On taxation, the OPS urged the widening of the tax net rather than over-burdening the already burdened businesses.

“Besides, the planned VAT increase would erode the gains of the new national minimum wage for low earners, and further weaken their purchasing power. “In the event that government must increase VAT against the will of the people, it should be limited to luxury or ostentatious goods only,� Okereke added. He also called for the need to diversify the income structure of the nation in order to drastically reduce the over-dependence on proceeds from the export of crude oil. “The foundation of the crippling recession that our nation experienced was the shock caused by the volatility in the global oil market,� he said, adding: “The lesson here should be the acceleration of the diversification agenda with greater focus on the implementation of the ERGP.�

FG SLASHES JV STAKE TO 40% TO BOOST REVENUE In the Federal Ministry of Industry, Trade and Investment, the sum of N38.25 billion was earmarked for ongoing and planned Special Economic Zones projects across the geopolitical zones to drive manufacturing and exports, among other interventions in the sector. Also, in the Ministry of Niger Delta, the sum of N400 million was set aside for the construction and supervision of Gberegolor- Ogriagbene road, in Delta State; N800 million for the construction

of Agadagba- AkotogboIyasan- Ovia river bridge in Ireke LGA, Ondo State, including N5.1 billion for various sections of the EastWest road as well as N500 million for the construction of skills acquisition centers with resident supervision and furnishing/equipping in nine states of the Niger Delta region. The sum of N24.97 billion was earmarked for the federal government housing programme. In the power sector,

N869.38 million was set aside for the Mambilla hydro power project; N250 million for the construction of 215MW LPFO/Gas power station Kaduna; N208 billion for Kashimbilla transmission and N203.85 billion for fast power programme accelerated gas and solar power generation. Also, N258.41 billion was earmarked for the construction and rehabilitation of roads in every geo-political zone of the country.

AIRTEL SEEKS TO LIST ON NIGERIAN STOCK EXCHANGE Uganda and Zambia. Last year, the telecom operator raised $1.25 billion from six global investors, including SoftBank Group Corp, Warburg Pincus LLC and Temasek Holdings (Private) Ltd. A further $200 million was raised in January from the Qatar Investment Authority (QIA), valuing the company just under $5 billion. A report by Reuters said

Airtel Africa is looking to trade on the main market of the London Stock Exchange, using its premium listing segment, which has more stringent rules than the European Union’s minimum requirements, and sell 25 per cent of new shares to reduce existing debts. The cash injection from current investors has already helped to reduce Airtel Africa’s net debt to $4 billion

in March, compared to $7.7 billion in the previous year. Its net income reached $83 million in the year to March, compared to a net loss of $49 million a year earlier. The Chief Executive Officer of Airtel Africa, Raghunath Mandava, in a statement, said: “The 14 countries where we operate offer strong GDP growth potential and have young and fast-growing

PRIVATE SECTOR OPERATORS SET AGENDA FOR BUHARI’S SECOND TERM the president to halt the spate of insecurity ravaging some parts of the country, which has hamstrung socio-economic activities. They also cautioned against any move to increase the Value Added Tax (VAT), which the federal government is considering jacking up by at least 35 percent to 50 per cent this year. The Director General/ CEO of Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA), Malam Usman Saulawa, said Buhari must take proactive measures to stem the spate of insecurity plaguing the country. Saulawa said worsening insecurity in the country had crippled socio-economic activities in the north and might hamper the government from achieving the goals of the current fiscal year and

Economic Recovery Growth Plan (ERGP). He said: “The number one agenda we are setting for Mr. President is security because without security you cannot do anything. Local people, including farmers, are not moving about and carrying their normal businesses. “We produce cotton and textiles materials but with the state of insecurity in the state not much can be done in terms of business. “Insecurity has really affected social and business activities in our state. So, this is our number one agenda. The president has to urgently do something about this because it is only when there is peace that businesses thrive.� He also urged the president to give the manufacturing sector proper attention to invigorate it for optimal

performance. Saulawa, who called for more attention to infrastructural development, identified the poor state of the nation’s infrastructure as the strongest variables in the high cost of doing business in the country. The Director General of Nigeria Employers’ Consultative Association (NECA), Mr. Timothy Olawale, who also lamented the growing insecurity in the country, said the slowdown recorded during the last four years of Buhari’s administration resulted from the banditry, kidnappings and terrorism that the Buhari administration has grappled with in the last four years. According to him, “In 2018, the real sector experienced its fair share of fortune and misfortune, especially as it relates to trade liberalisation, backward integration, multiple

and sometimes burdensome taxation, poor access to funding and regulatory insensitivity. “While we commend the various interventions by the Central Bank of Nigeria (CBN) and other government-owned financial institutions, the reality, however, is that much more is needed to enable the real sector achieve its full potential.� Olawale said among the urgent support needed by the real sector is access to single digit capital, a businessfriendly exchange rate regime, policy to ensure the patronage of made-in-Nigeria goods, concerted efforts at curbing smuggling and associated activities, bailouts and corporate tax incentives to encourage expansion of local businesses. Others are the enforcement of harmonised taxes and levies by the Joint

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

Unrest in APC, Shuaibu Calls for Oshiomhole’s Resignation Group defends party chairman Onyebuchi Ezigbo in Abuja The crisis rocking the All Progressives Congress (APC) has taken a new dimension as its Deputy National Chairman (North), Senator Lawan Shuaibu, has asked the party’s National Chairman, Mr. Adams Oshiomhole, to resign. He accused Oshiomhole of inefficiency and lacking the capacity to effectively run the affairs of the party. He also accused the party chairman of always acting unilaterally, attacking prominent party men and diverting official meetings of the National Working

Committee (NWC) to private residences outside the national secretariat. He also alleged that under Oshiomhole’s leadership, most of the decisions purportedly reached were not backed by minutes, adding that where minutes were taken, they were doctored. In a letter addressed to the national chairman, dated May 27, 2019, Lawan said: “in an advanced democracies, people who fail to add value or build on what they met on assumption of duty normally resigns honourably. “In that connection therefore, I want to advise you to take the

path of honour, to step aside and allow the party to embark on the onerous task of reconstruction and rehabilitation in those states it was weakened,” he said. He said Oshiomhole could not exonerate himself from blame on what happened to APC in Zamfara State, thereby destroying the hopes and aspirations of

534,541 APC members. The Supreme Court in a judgement last Friday, had annulled all the elections of APC candidates in Zamfara State and declared their votes wasted. It ordered that candidates of the next party with the highest votes and the required spread

should be declared winners. The letter titled “APC: It’s fortune and misfortune, time to act!” was made available to journalists yesterday in Abuja. While accusing Oshiomhole of incompetence, Lawan said: “Under normal circumstances, when you take over a project, it is expected that you bring to

bear, your wealth of experience to the new job, which will be seen in your capacity and capabilities as value addition. He said: “In a political party like the APC, you are expected to also introduce new approach to strategies through committees that will work and submit recommendations

Bandits, Herdsmen Kill 29 Villagers in Plateau, Zamfara Seriki Adinoyi in Jos and Onuminya Innocent in Sokoto Police in Zamfara State have confirmed the killing of 23 persons in Tunga and Kabaje villages, Kaura-Namoda Local Government Area (LGA) of Zamfara State by suspected bandits in the early hours of yesterday. Armed men suspected to be Fulani herders on Monday night also killed a family of six in Nakai village of Ganawuri district of Riyom LGA of Plateau State. Confirming the Zamfara incident to News Agency of Nigeria (NAN) in Gusau, the state capital, the Police Public Relations Officer in the state, Mohammed Shehu, said “it is true that the bandits killed 23 persons in the attack. “At the moment, peace has been restored in the affected areas and a combined team of mobile and regular police, the army and air force are on surveillance in the area.” Earlier, the Chairman of Kaura-Namoda LGA, Alhaji Lawal Isa, had told NAN that bandits numbering over 100 riding on motorcycles, invaded two communities in the early hours of yesterday when residents were going to their farms. He said that the bandits may have come for reprisal following the killing of one of their suspected informants whose name he gave as simply Anas. The chairman said that unknowingly to Anas, he was trailed by local vigilante members when he picked a wife and child of a suspected bandit at Angwan Sarki village to take them to the man in the bush on his motorcycle. “The vigilante members blocked the rider and killed all three instantly on Monday and at about 5 a.m. the following morning, the gang invaded the villages and killed the victims,” he said. He said all the villagers killed had been buried in the two villages according to Islamic rites. Isa appealed to security

agencies to consider going to the identified hideouts of the bandits, especially at Gidan na Zumbure village “which now harbours the bandits and serve as their base for launching attacks.’’ In a related development, a family of six was on Monday night killed by armed men suspected to be Fulani herders in Nakai village of Ganawuri district of Riyom LGA of Plateau State. This was disclosed to journalists yesterday by the suspended state Chairman of the Peoples Democratic Party (PDP), Hon. Damishi Sango, and confirmed by the state Police Command The Youth Leader of the area, Gyang Boyi, who also confirmed the killing, said that they identified the killers to be Fulani because they were speaking Fulfulde language, which is the language of the Fulani. Boyi added that immediately the killers attacked, five people died on the spot while the sixth one, who was seriously wounded was rushed to the hospital but died there later. According to the Police statement issued yesterday by the Police Public Relations Officer (PPRO), DSP Matthias Terna Tyopev, “On the 28/05/2019 at about 0600 hours, one Dalyop Boyi, the Youth Leader of Nakai Danwal village in Riyom LGA of Plateau State reported to the Plateau State Police Command that at about 1900 hours, unknown gunmen attacked the house of Gyang Dachung of Nakai Danwal village, as a result, six persons lost their lives. “The command mobilised to the village, the photographs of the corpses were taken and released to the relatives on demand and they were buried according to their traditional rites. “The Deputy Commissioner of Police Department of Operations, Plateau State Command, Jos visited the scene. The police patrol of the area is being intensified in order to discourage any reprisal.

IT’S NICE MEETING YOU …

President Muhammadu Buhari (right), in a handshake with the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, during the breaking of Ramadan Fast at the State House in Abuja...recently STATE HOUSE

Senate Passes N243.374bn FCT Budget, Eight Bills Approves $266m external borrowing for Niger Moves to discourage Almajiri in the North Deji Elumoye in Abuja The Senate yesterday passed the N243.374 billion 2019 budget bill of the Federal Capital Territory (FCT) as well as eight other bills. The upper chamber of the National Assembly had at plenary authorised the issuance from the Federal Capital Territory Administration Consolidated Revenue Fund of the Federal Capital Territory Administration Account the sum of N243,374,511,077 for the service of the FCT for the financial year commencing from January 1 to December 31, 2019. This was sequel to the presentation of the bill by the Senate Leader, Senator Ahmad Lawan for second reading after which it went through clause by clause approval by the Senate Supply Committee for third reading before being passed. A breakdown of the budget shows that N55.043 billion is for personnel cost; N57.610 billion is earmarked for overhead cost, while capital projects will gulp N130.720 billion. Six out of the other bills passed by the Senate were from the House of Representatives and went through concurrence after lead debate by Senator Lawan. They include the Federal Universities of Agriculture Act

(Amendment) Bill 2019 which renamed Federal University of Agriculture, Makurdi to Joseph Tarka University of Agriculture; University of Lagos Act (Amendment) Bill 2019; Recovery of Public Property (Special Provisions) (Repeal) Bill 2019; Federal University of Technology, Ogoja Bill 2019; Chartered Institute of Forensic and Investigative Professionals of Nigeria ( Est, etc) Bill 2019; and Assets Management Corporation of Nigeria ( AMCON) Act (Amendment) Bill 2019. The two other bills that were passed after presentation and consideration of their reports include National Tobacco Regulation Bill 2019 and Federal College of Forestry Technology and Research, Akamkpa (Establishment, etc) Bill 2019. The Senate also yesterday approved the sum of $266 million as contained in the 20162018 external borrowing plan of President Muhammadu Buhari for Niger State Development Policy Operation (DPO). The approval followed the recommendation of the Senate Committee on Local and Foreign Debts. Presenting the report, the Committee Chairman, Senator Shehu Sani, said the fund for DPO from the World Bank

is proposed to finance key programmes of the government of Niger State. This, he said, was aimed at stimulating internally generated revenue and developing critical infrastructure that will attract private investors to the state and thus increase employment opportunities for the residents and citizens. According to him,”the World Bank Development Policy Operation (DPO) is a budget-support facility to finance budget gaps that governments often encounter in implementing their annual budgets.” Sani pointed out that the credit facility has an attractive low financing data of 1.25 per cent interest; moratorium of five years and a 25 years maturity tenor. “According to the latest data from the Debt Management Office (DMO), Niger State has a total debt stock of $232.1million.” He added that “approving the current loan request of $266 million for Niger State will bring its total debt stock to $498.1million.” The Senate had on July 27, 2017 and November 9, 2017 at its sittings, mandated the committee to consider the Niger State’s DPO as contained in the 2016-2018 approved external borrowing plan, following its

approval of the loans’ request for a total of seven states. The Senate also yesterday moved to discourage the Almajiri system in the northern part of the country. This was sequel to Order 43 moved by the Senate Leader, Senator Lawan who submitted that the Senate should encourage state governments especially in the north to fund education of children. His words : “Even though it is controversial, a time has come in those states where the Almajiri system was established for over 100 years, to consider and see how we can work out a system that will ensure the Almajiri system should not continue in the way and manner that it is today because if we want to bring people on board why not tampering with the religious learning why not provide a climate conducive for these children who roam the streets to go to formal schools without compromising their learning for religious benefit. “I believe that this is going to be a major issue because we have to transform this sector if want to ensure that these people contribute to national development and also reduce the chances and the risk of getting these people recruited into insurgency and banditry.

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COMMENT

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

BELLO AND MEMORIES OF MOHAMMED ONUKA Debo Alabi writes that the Kogi State governor has squandered his goodwill

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ach time I see television reports, online videos and snippets from the actions, activities and pronouncements of Yahaya Adoza Bello, the governor of Kogi State, I cannot but draw comparisons between him and Mohamed Abdulsalam Onuka. Not many remember the latter, but he was a lieutenant colonel in the Nigerian Army, who was deployed to serve as military administrator of Edo State, during the administration of Gen. Sani Abacha. In a state brimming with top class military talent across the services at the time, Abacha favoured the young Onuka at the time and made him chief executive of one of Nigeria’s most politically sophisticated states. Just in case you have forgotten, Edo State is the home of Brig-Gen Samuel Osaigbovo, who as military governor of the Old Midwestern State, was easily one of the greatest success stories of the Yakubu Gowon dispensation. Edo State is also the birthplace of Admirals Augustus Aikhomu and Mike Okhai Akhigbe, who served at various times as Nigeria’s Number Two citizens, in the official designation of Chief of General Staff (CGS). Onuka was famous for intemperate language, abrasive comportment and unbridled arrogance of power. He was brusque, brash and impulsive. He traversed the expanse of Edo State, with his trademark swagger stick, barking orders, spewing threats, sacking and dismissing workers in tow. He seemed overzealous to impress his masters in Abuja, who were even more discerning and genteel than he was, as the Abacha gang strove to legitimise itself in the immediate post ‘June 12’ era. I cannot forget one of Onuka’s televised appearances on Nigerian Television Authority Network news, in the course of his visit to one of the many state-owned parastatals, sometime in 1994. I recall I was visiting a friend in his Oregun, Lagos accommodation that day and like the newsmen we are, we tuned to the news telecast to catch up with the day’s events. And there was the voice of Onuka belching out of one of the news reports, his eyes blazing like the furnace of the bronze casters on Igun Street, Benin City: ‘This is the last time I want to see things this way. The next time I have cause come back here, you will see the redness of my eyes.’ Then he stormed out, military escorts and security personnel fawning over themselves to clear the way for him... I don’t know if Abacha watched that Aminian dramatization by Onuka. I wouldn’t know if it was the CGS to Abacha, Lt. Gen Oladipo Diya who did. Better still, I can’t recall if it was the revered royalty in Benin, the Omo N’Oba N’Edo, Uku Akpolokpolo, N’Ogidigan, Oba Erediauwa II himself who put a call through to Aso Rock, Abuja, seeking an end to the continued repression and mistreatment of his subjects by Onuka. What I know for sure is that a few days after that inglorious outing on national television by Onuka, his tour of duty as military administrator of Edo State, came to an unceremonious denouement. Appointed as chief executive of the state on December 9, 1993, Onuka got the boot on September 14, 1994, after barely nine months in office. He was promptly replaced by a more mature, more charismatic, less noisy and controversial Bassey Asuquo, an army colonel. And trust the military with its punitive, if not vindictive reward for misdeamenour, Onuka was flung, with immediate effect, to the battlefields of Sierra Leone on a peacekeeping mission in a nondescript capacity. And that marked the beginning of the end of an otherwise promising career, the same pedestal on which the Hamid Alis, the Jafaar Isas, the Olagunsoye Oyinlolas and the Buba Marwas, among others, rode to subsisting national acclaim and relevance. I have been checking Wikipedia recently and it tells me Yahaya Adoza Bello of Kogi State and Mohamed Abdulsalam Onuka, are indeed first cousins! Maybe herein lies the uncanny congruences and affinities in their destinies, persona, official carriage and administrative demeanour. Yahaya Bello loves the military swagger stick. It is a part of his custom-

KOGI STATE IS EASILY THE CAPITAL OF MASS SUFFERING, PERVADING MISERY, PALPITATING INSECURITY, INESTIMABLE DESPONDENCY AND CRIPPLING DESPAIR ACROSS THE COUNTRY

ary sartorial make-up. The only times I have not seen his walking stick with him, are in those short video clips of his boxing trainings where the gloves he wears, prevent him from adorning the stick. From the biography of him in the public space, he was most probably still in secondary school when his older cousin was military administrator and strutted about with that trademark stick. And he loved it. Very much like Onuka, Bello was awarded the governorship of Kogi State on a platter of platinum. Here is a man who didn’t campaign to be elected governor, whose name was not on the ballot paper, who didn’t contest to be governor, but who was woken up by a phone call, while snuggling beside one of his wives, Amina, Rashidat or Hadi, and presented the position as a fait accompli! Yes, Abubakar Audu, a two-time governor of the state and candidate of the All Progressives Congress, APC, was coasting home to victory in that November 2015 gubernatorial election, when the unexpected happened and he died just before the conclusion of the election. Against all electoral and political permutations, a strange legalistic invention to the effect that the runner-up in the primary election which produced Audu as candidate, become beneficiary of the votes cast for Audu, and by extension, ‘duly elected’ governor of Kogi State! And thus entered Yahaya Bello. Bello, before then was totally unknown in Kogi State. Yes, he contested the APC governorship primaries in the state in 2015, but he walked away as soon as he lost. There is no record of him accompanying the campaign train of the APC in the build up to that election, because he was sore and bitter from his predicted loss at the primaries, and he opted to abstain from the process. Onuka, his cousin, was as well an unknown quantity in the Nigerian Army, probably serving as Staff Officer or Battalion Commander in Bama or Bakassi, retiring to a bottle or two of kunu or Trophy lager beer at the close of work every day, before fate catapulted him to the leadership of Edo State. And what has Yahaya Bello done with this fairy tale opportunity since his inauguration as governor of Kogi State in January 2016? He has striven assiduously, committedly and consistently to make the state the headquarters of national scorn and public opprobrium in all ways possible. Kogi State is easily the capital of mass suffering, pervading misery, palpitating insecurity, inestimable despondency and crippling despair across the country. Workers’ salaries and emoluments are unpaid. Labour unions have been unanimous and consistent in saying that the salary backlog is hovering around the 40-month mark. The civil service has been phenomenally degraded and debased such that permanent secretaries at the topmost echelon of the bureaucracy commute to work on motorbikes! Pensioners who gave their active and productive years in the service of state and country are deprived their gratuities and entitlements. The economy of the state, largely powered by the civil service, is virtually crippled. Sales are low, businesses folding up. Many businessmen have indeed folded up and left the state. Hunger walks on all fours in the state, poverty has become a way of life. Kogi State today holds the infamous national medal for the state with the highest rates of depression, stroke and suicides. Amidst such despair and hopelessness, ‘GYB Boys’ as the clique of like-minded characters around Yahaya Bello brand themselves, live in such grandeur and opulence, with contrasts so disturbingly sharply with the overall morass around and about them. They ride the choicest, automobiles adorned with women procured from tertiary institutions in the state, move about with bands of police escorts and live large like tomorrow will never come. Alabi is a public affairs analyst

MARIE STOPES AND BABY KILLING The services of Marie Stopes clinic are not needed here, argues Sonnie Ekwowusi

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hese are indeed times that try men’s souls. Their hands are stained with human blood and no water on earth can wash away the blood from their hands. Whether it is Boko Haram killings or Fulani herdsmen terrorism or the bandits laying siege to the expressways mowing down and kidnapping their victims or the ritual killings or the abortionists dismembering the bodies of babies at the abortion clinics, it is spilling of human blood all the way, from East to West, North to South. Come to think of it, baby killing in particular is affront to humanity. The building block of human civilization springs from babies. Without newly-born babies it will be impossible to replenish the dying population of the human family and human society. Yet innocent babies continue to be the victims of the most untrammeled babycide and infanticide. For decades I have been literally kneeling down on this page begging baby killers to desist from committing such an atrocious crime. Life is live and let live. We were born naked and naked shall we return to our Maker when He calls us. Look, every child that comes to life, irrespective of his or her unique historicity or circumstances of birth (whether conceived through rape or incest or whatever) is destined by the Almighty for something great. No baby is an accident of birth. This is because God the Creator, the Alpha and Omega, does not make a mistake. He has created every one of us for a purpose. You don’t know what that baby inside the womb will turn out to be in the future. Did you know that football star Christian Ronaldo was almost aborted

by his mother? “I wanted to have an abortion but God did not want that to happen,� Ronaldo’s mother readily admits. If baby Ronaldo had been aborted in the womb by his mother the world would have been robbed of Ronaldo today. Super actress Opray Winfrey would have been aborted by her Mum too. St Catherine of Siena was number 23 out of 24 children. Universal composer Beethoven would have been aborted. Imagine a world without Beethoven. If I was aborted by my mother I would not have been alive today scribbling this. If you were aborted by your own mother many years ago you would not have been alive reading this today. If Marie Stopes was aborted by her mother many years ago she would not have been alive to set Marie Stopes abortion clinics. Last week a team of police detectives stormed the abortion clinic of the Marie Stopes International, a notorious international abortion organization founded and funded in and from the UK (just Google “Marie Stopes and abortion� and you will be convinced) being and situate at 105 Itire Road, opposite Obele Nursery and Primary School, Lawanson, Surulere, Lagos. At the aforesaid clinic, Marie Stopes charges between N20,000 to N30,000 to abort any pregnant girl without the consent of the parents of the girl. Prior to the police action, a young girl who pretended that her friend was pregnant was sent to the Marie Stopes clinic to demand for abortion. On getting to the clinic, the girl met a doctor (name withheld) and a nurse (name also withheld) on duty. She inquired from them whether they perform abortion because she had a friend who

was pregnant and needed abortion. They told her that they perform abortion at the clinic for N30,000. Armed with this evidence, the detectives, as I earlier said, stormed Marie Stopes’ clinic last week. On getting there, they first arrested the doctor and handcuffed him. Thereafter the detectives carried out a thorough search at the clinic and discovered abortion instruments such as Manual Vacuum Aspirators, abortion injections and drugs and abortion files. The files contained complete information including the phones of the minors who go to Marie Stopes’ clinic day- by- day to procure abortion. Earlier the police had arrested a young girl inside the clinic. She was waiting to be given an abortion injection. The police initially arrested her but when she started crying the police released her. In their defence upon interrogation, Marie Stopes said that what they do inside their clinic is family planning and post-abortion care, not abortion. It said it does abortion to prevent pregnant girls from procuring unsafe abortion done by quacks. At this juncture, the head of the detectives cut in and queried, “so you do abortion then�. In response, Marie Stopes said, “no, we do family planning�. Then one of the detectives asked, “how can unmarried young girls be doing family planning? The files we recovered in your clinic show that the girls come to do abortion. Even the consent forms in the files are not filled by the parents of the girls or their boyfriends�. The evidence against Marie Stopes is overwhelming. Marie Stopes cannot be exculpated. The Buhari government should expel Marie Stopes from Nigeria. Marie

Stopes has been expelled from Niger Republic, Zambia, Uganda, Tanzania, Kenya and other African countries for committing the crime of abortion in the aforesaid countries. If these countries have expelled Marie Stopes from their territories, why can’t Nigeria follow suit and expel her from Nigeria? Pursuant to the combined effects of sections 17, 33 of the 1999 Constitution, sections 228, 229,230 and 328 of the Criminal Code (and their equivalents in the Penal Code) and sections 3, 4 and 17 of the Child Rights Act 2003, abortion is a criminal offence in Nigeria punishable with various imprisonments and life sentences. In fact, section 328 of the Criminal Code stipulates: “Any person who when a woman is about to be delivered of a child prevents the child from being born alive by any act or omission of such a nature that, if the child had been born alive and had then died, he would have be deemed to have unlawfully killed the child, is guilty of a felony and liable to imprisonment for life�. The aforesaid Nigerian laws conform to the religious, cultural and philosophical convictions of the average Nigerian in the street today. Abortion is murder simpliciter. Christianity condemns abortion. In Islam, the Mohammadiya, the Ahmadiyya, the Quadiniya, and the Shiite Moslems all denounce abortion. Quran 17:31 stipulates: “slay not your children, fearing a fall of poverty, we shall provide for them and for you, lo the slaying of them is greater sin�. Marie Stopes is a foreign NGO. Why should it come to Nigeria and desecrate our values? We believe that culture and tradition is the lifeline of a people.

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T H I S D AY WEDNESDAY, MAY 29, 2019

EDITORIAL 20 Years Of Unbroken Democracy The 20th anniversary is a reminder that much more could be done for the people

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s President Muhammadu Buhari takes the oath of office for his second term in office today, Nigerians are ushered into two decades of unbroken democratic rule. It is something to crow about. For being able to keep the restless and adventurous military at bay and for offering some windows to freedom of expression and other civil liberties, democracy is proving gradually not to be too frail a plant to survive within our hostile environment. However, after 20 years of practice, the process is still underdeveloped, crude and deeply flawed. Elections are almost always fought like wars–riddled with tensions, violence, mass rigging, thuggery and intimidation in a polity obsessed with ethnicity, religion and regions. Leaders, mostly inept, are routinely imposed through large-scale malpractices while the use of money to buy votes has become the order of the day. Meanwhile, successive governments in Africa’s largest economy have not done much to improve the WE MUST REMIND THE standards of living for GOVERNMENT, AT ALL majority of the people. LEVELS, TO FOCUS ON THE At the heart of the PEOPLE, THEIR SAFETY euphoria for democracy is the belief that AND WELFARE; THE people would be better OPTIMAL ALLOCATION governed and more OF SCARCE RESOURCES prosperous. Indeed, AND THE EFFECTIVE it was Lee Kuan Yew, IMPLEMENTATION OF the founding father POLICIES FOR SERVICE of Singapore, who DELIVERY said that the ultimate test of the value of a political system “is whether it helps to improve the standard of living for the majority of its people.” Sadly, after 20 years of unbroken rule by elected civilians, the lot of the average Nigerian has not improved in any profound sense. For all its wealth –human and natural- Nigeria’s Gross Domestic Product (GDP) is among the lowest in the world. With almost 100 million living on less than two dollars a day, our country is now regarded as the poverty

Letters to the Editor

capital of the world while jobs are in short supply for the teeming young population. The unemployment rate, put at more than 35 per cent by the National Bureau of Statistics (NBS), is not only frightening but breeds the risk of social, economic and security turbulence.

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

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

NIGERIA’S NEWYOUTH AGE CLASSIFICATION

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he Federal Ministry of Youth and Sports Development on 24 May 2019 launched the Revised National Youth Policy, 2019 with youth stakeholders in Akure, Ondo State. The review which was long overdue – the 2009 policy states that it should be reviewed periodically (every five years) was due for review in 2014. However, due to various challenges, the policy review process was not completed till 2019 (an additional five years after the last review was to have taken place). In the 2019 Policy Foreword, the Minister of Youth and Sports Development Solomon Dalung, points out that, ‘A major thrust of the current review is regarding the age bracket for the classification of youth from existing grading of 18 – 35 years to 15 – 29 years. The review is informed by practical empirical analysis and the need to promote the appropriate targeting of desired beneficiaries of intervention programmes for the youth rather than adults masquerading as youth.’ As part of the revision of the National Youth Policy, the ministry held regional consultations with youth groups and stakeholders supported by the United National Population Fund (UNFPA). The permanent secretary of the ministry acknowledged the United Nations Population Fund (UNFPA) for its encouragement and support and for the recruitment of two notable consultants: Professors Alfred Adegoke and Adesegun Fatusi who facilitated the review process to a successful end. This age classification sets Nigeria apart from other

he state of many basic services such as education, health as well as road infrastructure is dreadful and decrepit; the health of millions is suspect while a demographic crisis is looming large on the horizon. A significant numbers of Nigeria’s 200 million people have no access to power, with small and big businesses mostly dependent on generators. The security situation is even more treacherous. Never since the civil war had the security situation deteriorated this far. Racked by the decade-long Boko Haram insurgency and other cocktail of crimes and criminalities - from kidnapping, armed robbery, herdsmen-farmers’ conflicts, cultism to general banditry, Nigeria has become a nation besieged. A recent report on fragile states index (FSI) categorised Nigeria as the 13th most fragile state in the world. It is an indication that not much progress had been made in the effort to remedy the political and socio-economic conditions that were dragging the country down the slope. The darkening outlook is even now more pervasive. Yet against the depressing backdrop, some fundamentals are moving in the right direction. Stripped of partisanship, President Buhari’s war on corruption is on target. Communication and banking services have been enhanced beyond expectations, courtesy of mobile phones. Even more significant, the president has hinted, after years of resistance, to restructure the country. While the major problem in the system today is more about the absence of good governance at all levels, we also have a serious structural problem. On a day such as this, we must remind the government, at all levels, to focus on the people, their safety and welfare; the optimal allocation of scarce resources and the effective implementation of policies for service delivery. Until we begin to do all these, Nigerians will find it difficult to maximise their potential and our democracy will be imperilled.

countries on the continent that align with the age classification in the African Youth Charter of 18 -35 years. Questions have been raised over the consultation process that led to the review of the policy especially with regard to the age classification. That aside, the ministry still has a lot of work to do in disseminating the policy in order to ensure there is acceptance and ownership as well as ensuring the implementation of the policy using strong monitoring and evaluation mechanisms. One of the criticisms that have been levelled at the ministry is a lack of monitoring and evaluation mechanisms on the last policy prior to the review process that birthed the revised policy. The new age classification has no doubt raised a lot of eyebrows and questions. In understanding the classification, it is important to note that the United Nations (UN), for statistical consistency across regions, defines ‘youth’, as those persons between the ages of 15 and 24 years, without prejudice to other definitions by member states. Similarly, the Minimum Age Convention (1973) sets the general minimum age for admission to employment or work at 15 years. The new age classification is also closely tied to the Not Too Young To Run Act (age reduction) which was signed into law in May 2018 and reduced the age criteria for running for the office of President from 40 to 35 years; House of Representatives 30 to 25 years and State Assemblies 30 to 25 years respectively. Ibrahim Faruk, Senior Program Officer, YIAGA AFRICA’s Youth Program

BUHARI: THE NEXT FOURYEARS

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oday is a democracy day.It is a day for the inauguration of President Buhari who won his second term in the last general election. In his first term, President Buhari was criticised for sluggishness.It took Buhari six months to form his cabinet. Although, Buhari’s admnistration inherited broken economy as the result of alleged corruption and the crash of crude oil price,it has failed to stabilise the battered economy in the last four years.Under his watch,as reported by Brooking Institution,over 87million Nigerians languish in poverty.While the government has been busy blowing its trumpent over the succesful implementation of social intervension programmes such as N-power, school feeding, Anchor Borrowers and conditional cash transfer, these programmes have failed to impact positively on the lives of Nigerians.No wonder, the wife of Mr president, Aisha Buhari, said the social intervention programmes have failed the people of Northern Nigeria.However,it would have been more appropriate had the first lady said the policies have failed to bring the desired impacts for the target population across the country.

The Buhari administration has been battling the menace of Boko Haram.There is no gainsaying the fact that the goverment has recorded considerable success in the war agaist Boko Haram.It has been able to downgrade the activities of the murderous group. It is sad to note, however, that the insecurity bedevilling the country goes beyond the Boko Haram insurgency.In the last four years of Buhari administration killer herdsmen have taken the North central states while kidnapping and banditry have become the order of the day in Kaduna, Zamfara and Katsina States.These criminals disguised as bandits have gradually transformed to terrorists as they maim, kill and abduct innocent Nigerians at will. The Buhari’s second term should change the narrative from going-slowly. Mr President should quickly chose his ministers who are competent enough to run the affairs of their respective ministries.The much- talked social intervention programmes should be reviewed to address the persistent issue of poverty in the country. There is the need for massive security shake up.Some officers have overstayed and outlived their usefulness. Ibrahim Mustapha Pambegua, Kaduna State

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T H I S D AY ˾ WEDNESDAY MAY 29, 2019

MIDWEEKPOLITICS

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

NEWSMAKER

Crawling Steadily Out of the Woods

Nseobong Okon-Ekong writes that while it is worth celebrating two decades of unbroken civilian adminstration, the longest in the history of the country, the journey to the attainment of the lofty goals of democracy are still far from being achieved

Obasanjo

Yar’Adua

Jonathan

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bodies appeared to be in direct conflict with one another, in terms of functions. To his credit, he set up the Independent Corrupt Practices Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC). He established the Due Process Office in The Presidency and started the process of unbundling the power sector. Obasanjo ran an administration that brooked little opposition. His relationship with the legislative arm of government was anything but cordial. In his time, there appeared to be a season of musical chairs in the leadership of the National Assembly, orchestrated by a presidency that was bent on having its way. Obasanjo sought to extend his sphere of influence to include direct control of state governors. A couple of state governors who were perceived and actually opposed the presidency for policies they thought were not in tandem with the constitution were dealt with. The Obasanjo presidency came

down hard on the former governors of Lagos and Akwa Ibom states, Bola Tinubu and Victor Attah respectively. Funds belonging to their states were arbitrarily held back by Obasanjo. State of emergency was declared in some states by the Obasanjo regime, not necessarily because the security situation in those states had become intractable, but it served as a measure to clip the wings of governors who did bow to his whims. It was under Obasanjo that Ahmad Yarima, former governor of Zamfara State, zoned off his territory as an Islamic Republic, proclaiming the reign of Sharia Law. This ultimately awakened the rest of Northern Nigeria to the prevailing state of insurgency and religious intolerance. Obasanjo was so consumed with the party of praise singers who did not see anything wrong in his administration. Convinced that he was Nigeria’s Messiah, he schemed through the backdoor and nearly succeeded in changing the country’s constitution to accommodate a third term of four years in office for the executive. But for the eternal vigilance of the opposition, he would have succeeded. Forced to renounce the third term agenda, Obasanjo foisted the reluctant former governor of Katsina State, Umaru Yar’Adua on the nation. Yar’Adua had earlier said he wanted to return to his job as a lecturer. After winning the presidential election in 2003, the late President Yar’Adua made one of the most honest public statements in Nigerian political history by admitting that the election that brought him to power was not free and fair. He promised to pursue electoral reforms with a sense of purposefulness. He was also able to enact a policy of forgiveness to Niger Delta militants who had disrupted production activities of the International Oil Companies in the region. Following his passage, the then Vice President, Goodluck Jonathan assumed office, but not without a lot drama that brought up a new phrase in Nigeria’s political lexicon called, ‘Doctrine of Necessity’. The Nigerian constitution did not anticipate a situation where a serving president will die in office. It was a very trying and delicate period in the country. A similar, but not directly connected situation will latter play up in Kogi State, when a governorship candidate that was coasting to victory passed on before the results of the election were declared. During the 20-year period of Nigeria’s ongoing democracy unsuccessful attempts have been made to recall elected legislators. Whether at the federal or state level,

the relationship between the legislature and the executive has been very bad. The picture that is clear to onlookers is that this two arms of government have mostly worked at cross-purposes, to the detriment of the people they were elected to serve. Partnership between the states and the federal government is often defined by partisan interests. The party at the centre conducts its affairs as if it owes no obligation to states not governed by its party. It does not matter if the interest of the people is at the receiving end. Nigeria’s economy went into a recession during the period. While the pangs of this difficulty are still being experienced by the populace, the government insists that the country is technically out of recession. Interestingly, the constitution allows a multiplicity of political parties, in real terms, but Nigeria may described as a twoparty state. This is the clear indication in the past 20 years. However, the Peoples Democratic Party (PDP) has remained the constant decimal on the Nigerian political turf, surviving various crises. The party has largely been in control of governance at the centre and in many states of the federation in the last two decades. The ruling All Progressives Congress (APC) which wrestled power from the PDP had to form a merger of different interest groups to create a platform that defeated the PDP, dislodging it from power at the centre, for the first time in 2015. The Nigerian judiciary which is the third arm of government has been embattled from many disputes brought before it, resulting from the unrest between the executive and the legislature. To its credit, there have been many defining and landmark declarations by the courts. This is not to deny the odium brought on the judiciary by controversial decisions that have subtracted from the eminence of that arm of government. Generally, lack of political will and selfish ambition by key players in the Nigerian polity have robbed the country of the opportunities that were beckoning and dashed many hopes. The refusal of many succeeding administrations to follow through with policies of their predecessors has set the country back. Viewed from any side of the spectrum, the few outstanding performance of some state governors and the inconsistencies in policy of the federal government has erased gains that would have generated excitement at the celebration of two decades of democracy in Nigeria.

igerians cannot miss the name, Chibuike Rotimi Amaechi. The former governor of Rivers State and current Minister of Transportation seized our collective attention, first, for some of the revolutionary things he was doing as the s were trained locally and abroad to promote his vision of a developed Rivers. Today, in every part of the country, there is a beehive of activities to celebrate Nigeria’s enduring experiment with democratic rule, which began in 1999. Though there may not be change of governorship baton in states where off season governorship elections will hold later in the year (or in 2020), it is expected that formalities centred around celebration of Democracy Day will take place in all state capitals and in the Federal Capital Territory. Twenty years on, the nation has unequivocally demonstrated its preference for democratic governance as it is in most parts of the civilised world. Today’s celebration of May 29 as Democracy Day is the last, as the Federal Government has proclaimed June 12 as the new Democracy Day. The controversy surrounding June 12 is one of the most outstanding signposts of Nigeria’s present democratic journey. It was the annulment of the June 12 election supposedly won by the late Chief MKO Abiola that engendered a period of struggle by rights groups pressuring the military government of the late Gen. Sani Abacha and his successor, Gen. Abdulsalam Abubakar to transmit power to civilians in 1999. The calculation of the leaders and influencers, at the time, was that the South-west of Nigeria, where Abiola came from needed to be placated for the loss of Abiola. Therefore, Abiola’s Abeokuta-Ogun State kinsman, former Head of State, Chief Olusegun Obasanjo was favoured to win the 1999 presidential election in which he was a candidate, having been released from prison where he was serving time for alleged attempt to overthrow the Abacha government. Obasanjo’s reputation on the international arena helped to stabilise the image of Nigeria’s burgeoning democracy. World leaders readily embraced and quickly reversed the country’s stature from a pariah state to Africa’s promising bastion of democracy. The Obasanjo presidency will be remembered for groundbreaking policies in many sectors, particularly in establishing departments and agencies that were targeted at dealing with specific malaise in the society, even if some of these

During the 20-year period of Nigeria’s ongoing democracy unsuccessful attempts have been made to recall elected legislators. Whether at the federal or state level, the relationship between the legislature and the executive has been very bad. The picture that is clear to onlookers is that this two arms of government have mostly worked at cross-purposes, to the detriment of the people they were elected to serve. Partnership between the states and the federal government is often defined by partisan interests

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ANALYSIS

How Okowa Inspires Hope in Governance Victor Efeizomor writes that Governor Ifeanyi Okowa of Delta State has raised the bar in governance

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t is the wisdom of the ancient that an enterprising person attracts to himself more noble services to society as a mark of appreciation for his diligences. That is to say that when you work hard, you are given more work so that the community can benefit from more of your expertise. This aptly explains why the people of Delta State turned out in large numbers in March 2019 to re-elect Senator Ifeanyi Okowa for another four years following what has been described as a successful first term, and having performed well during the lifespan of the first tenure. The fact is that Okowa , who is popularly called ‘Ekweme’ and ‘ the Road Master ‘ , does not need to blow his trumpet as his sterling qualities of levelheadedness, courteousness, finesse , thoughtful calmness , civility and godliness, which has no place in Nigerian politics, are his driving force in delivering the much needed democracy values to his people. His re-election has been hailed by many as affirmation of the people of his performance as envisioned in his five point agenda with the acronym, S.M.A.R.T Having performed well on these policy directions , the people of Delta have chorused that the good things taking place in the state deserve continuity . It will be recalled that not a few days after his inauguration on May 29, 2015, Okowa pleasantly surprised his people every day with avalanches of developmental projects. With the construction of over 357 roads and 352.78 kilometer square of drains across the state , one can attest to the fact that the government of Okowa is truly one that God has used to bless the good people of Delta. As a means of bringing development to the rural areas, he moved to the suburbs and opened up their narrow roads, giving them modern streets with light that link the highways. In addition, Okowa has frontally

tackled the perennial flood problem in the state, particularly in the state capital, Asaba, with the construction major storm water drainage, aimed at restoring the lost glory of the metropolis. Okowa’s health and education initiative have equally been penetrating, profound and promising. He has established templates suggesting a progressive look into the future. The construction / rehabilitation of facilities in Delta State University , Oleh and Abraka campuses; construction of a number of projects in Delta State

Stakeholders say Okowa has put up what they describe as ‘’irreversible’’ achievements in his first tenure , just as he has done in pushing Delta State as a foremost player in the crusade for food security through its job creation project, which is anchored on Skill Training and Entrepreneurship programme(STEP), Youth Agricultural Entrepreneurs Programme(YAGEP) and Graduate Employment Enhancement Programme(GEEP)

Polytechnic , Ogwashi Uku, Ozoro and Oghara, as well as the Collage of Education ,Agbor , Warri and Masogar. The state , through the Delta State Bursary and Scholarship Board was able to pay the students bursary allowance to date. Okowa has assured reconstruction, renovation and supply of medical equipment at the Primary Health Care Centers across the three senatorial district in the state, as well as giving financial support to the neglected tropical disease and malaria programmes. Also, doctors and nurses quarters have been constructed in major healthcare centers, Just as no fewer than 485,140 persons are currently enrolled into the state Universal Health Coverage. Stakeholders say Okowa has put up what they describe as ‘’irreversible’’ achievements in his first tenure , just as he has done in pushing Delta State as a foremost player in the crusade for food security through its job creation project, which is anchored on Skill Training and Entrepreneurship programme(STEP), Youth Agricultural Entrepreneurs Programme(YAGEP) and Graduate Employment Enhancement Programme(GEEP).However, the success story is that over 20,334 persons have been trained and established in their choice enterprise. The implication of this is that, there is a progressive mindset shift, among unemployed youths, from government (salary) employment to private sector entrepreneurship based self employment, and Delta youths are now imbibing the notion of finding gainful employment outside government or public services. Expectedly, the areas of sports, public security, tourism and the judiciary have similarly received brilliant initiatives in the hands of Okowa , to emotionally endear him to the people of Delta State and to move the state to higher level. In the area of sports , the recently completed Stephen Keshi Stadium in the state Capital , Asaba , by Governor Okowa, has not only boost the socio-

economic and political development of the capital city but has equally turned the city into a sports haven in the country as the leading sports tourism destination in the nation. Many who bought into Okowa’s vision have realized that a completed stadium within the heartbeat of the capital city where economic activity are often high, is actually an added advantage. It would amount to being economical with the truth not to mention that Deltans now sleep with their eyes closed, as sanity and security has returned to our state. This was made possible with Okowa’s regular interaction with security agencies in the state as well as the provision of necessary working tools like patrol vans and other financial aid. Workers in the state Civil Service have never had it this good. There has been regular and prompt payment of salaries. Also, a befitting state secretariat is under construction. Okowa’s administrative ingenuity gave rise to the introduction of a biometric system in the civil service which led to a sharp reduction in the hitherto over bloated work force, as ghost workers previously , accounted for about 30 percent of Delta State staff strength . The digital governor also saw the need to keep pace with current happenings and developments in the fast-paced technological world, hence the need to digitalize the procurement of Certificate of Occupancy (CofO) in the state. With the FAST-TRACK. Tgis makes it possible for Deltans and non- Deltans alike to obtain the CofO at a reduced cost. Okowa , who is described as a grassroots politician, has ensured that local government , which was previously a glorified third tier of government, has been given a comeback and they have joined in the implementation of government policies. No doubt , better days await Deltans in the next four years.

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FEATURES

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

2019 INAUGURATION! 2019 INAUGURATION! 2019 INAUGURATION!

New Dispensation, Expectations from FG Ahead of the inauguration of President Muhammadu Buhari and Vice President Yemi Osinbajo today in Abuja for their second tenure in office, John Shiklam in Kaduna, Emmanuel Addeh in Bayelsa, David-Chyddy Eleke in Anambra, Francis Sardauna in Katsina and Femi Ogbonnikan in Ogun write on the expectations of Nigerians from the incoming administration

President Muhammadu Buhari during his inauguration in 2015

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aving scored the highest votes in the 2019 presidential election by polling 15,191,847 over his closest challenger, Atiku Abubakar, of the Peoples Democratic Party (PDP), who polled 11,262,978 votes, President Muhammadu Buhari will today be inaugurated alongside his deputy, Prof Yemi Osinbajo for their second term in office. Buhari who contested on the platform of the All Progressives Congress (APC) on February 23, 2019, was declared winner after winning majority votes and also scored two-third of votes in 24 states. In declaring him winner, Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, had to make sure that the total number of disenfranchised Nigerian voters was not more than the difference in votes between the two leading candidates. Timeline for Inauguration Although Atiku and PDP are presently contesting the result in court, the inauguration was given a go-head order. Thus, the federal government recently reeled out the details of the May 29 presidential inauguration and the first observance of June 12 as Nigeria’s Democracy Day. The Minister of Information and Culture, Lai Mohammed, who released the details, kicked off the inauguration with the press conference last week Monday, May 20. The next day, the three-day National Youth Entrepreneurship Empowerment Summit at the International Conference Centre (ICC) commenced in Abuja. Then on Wednesday, May 22, the Federal

Executive Council (FEC) Valedictory Session held at the Council Chambers, State House, Abuja, while the special Jumat Lecture and prayer held on Friday, May 24 at the National Mosque. On Saturday, May 25, the First Lady, Aisha Buhari’s interaction with women held at the Old Chamber at the State House, while on Sunday, a special Interdenominational Church Service was held at the National Christian Centre. On Monday, May 27, the president gave a Children’s Day broadcast, which was followed later in the day by a Children’s Variety Party. All these dovetailed to the main eventthe inauguration where the president and his vice would be sworn in at the Eagle Square, to be followed by a State Banquet at the State House in the evening of the same day. Democracy Day Initial feelers had postulated that the inauguration would take place on June 12, which is the new Democracy Day after Buhari had directed that effective 2019, Nigeria’s Democracy Day, which was marked every May 29, be shifted to June 12 to honour Moshood Abiola, the winner of 1993 presidential election. Even though the Senate also last week passed the bill approving June 12 as the new Democracy Day, the bill is yet to be sent to the president for signing into law, which made the government decide to mark the inauguration on the same May 29. Nonetheless, the government also unveiled plans to mark the democracy day. From all indications, the Democracy

Day will kick off on Friday, June 7 with a historical exhibition in arts, pictures and immersive environment. The events will run through June 12 at the International Conference Centre (ICC) On Sunday, June 9, a Youth Concert, Creative Industry, and Entertainment night will also be held at the ICC. On June 10, there will be a Secondary Schools Exhibition/Panel Discussion at the ICC, and June 11 will feature three events: the PMB Oratorical Contest at the ICC, an Anti-corruption Summit at the Transcorp Hilton and a First Lady’s Commissioning Programme in Yola, Adamawa. Wednesday, June 12 will start off with a parade at the Eagle Square, and the Democracy Day programme will wrap up with a Dinner and Gala Night at the State House Conference Centre. Expectations From the North to the South, East and Western parts of the nation, there are of course expectations from the populace for this new dispensation of office. Ranging from good roads to affordable housing, adequate electricity supply, sound education, national health insurance scheme for all, booming economy, seamless ICT, abundance of food, clean water and security, the list is endless. For different states however, it’s different strokes. While Katsina indigenes would rather he tackles the rising wave of banditry and kidnapping, Kaduna residents and indigenes have charged the president to revive the moribund textile industry, construct some highways and tackle insecurity amongst others. In Ogun State, the clamour for road

construction given the deplorable state of the roads is germane. Also, tacking the menance of herders on their farmlands is another sacrosanct pledge they want from the federal government. For Anambra State, the completion of the Second Niger Bridge and dredging of the river to give way for vessels to berth there are one of their key needs. In Bayelsa, their needs range from resuscitating abandoned projects to tackling child trafficking and labour Taming the Wave of Banditry, Kidnapping in Katsina For the residents of Katsina State, they charged President Muhammadu Buhari to tame the wave of banditry and kidnapping bedeviling the state in his second term. The residents, who spoke in separate interviews with our correspondent in Katsina, said the carnage orchestrated by armed bandits is affecting the economic growth of the state. One of the residents, Alhaji Salisu Kaita, said: "Buhari should show clear decisiveness and intolerance to both the perpetrators and sponsors of these killings in Katsina. Our women suffer a lots, because the bandits attack communities and abduct them from their homes and rape them before freeing them". Another resident, Mallam Kabiru Tanimu affirmed that: "this ugly situation is very disheartening; we are tired of mass burial; every day we pay millions of naira in ransom to these bandits. President Buhari should address insecurity in Katsina before any agenda". According to him, the state needs urgent intervention from the federal government, adding that "We are not

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FEATURES 2019 INAUGURATION! 2019 INAUGURATION! 2019 INAUGURATION!

L-R: Vice President Yemi Osinbajo, Mrs. Aisha Buhari, President Muhammadu Buhari and former President Goodluck Jonathan at the last inauguration satisfied with the efforts and strategies of the security agencies, because they not getting to these bandits". However, Rabo Dambi Danmusa, urged President Muhammadu Buhari to dualise the Katsina/Kano road and reconstruct Katsina-Kankara-Funtua road, as according to him, "the roads, if rehabilitated would boost the revenue generation of the state". He also called on the president to tackle what he described as persistent acute water scarcity facing residents of the state in his second tenure. Insecurity, Construction of Highways, Revival of Moribund Industries in Kaduna On what Kaduna people expect from Buhari in the next four years, it ranged from the revival of the moribund textile industry, construction of highways and tackling of insecurity amongst others. As President Muhammadu Buhari is sworn in for another term of office, residents of Kaduna state want him to take adequate steps in tackling the increasing insecurity in the state, occassioned by kidnappings, armed robbery and banditry, especially along the KadunaAbuja highway, Birnin Gwari area and herdsmen attacks in parts of Southern Kaduna. From the feelers gotten by THISDAY, Kaduna people would also want the president to complete the construction of the 16-year-old Kaduna Eastern bypass road which was initiated by the administration of former President Olusegun Obasanjo. The completion of the Abuja-KadunaZaria-Kano highway, being funded by the Presidential Infrastructure Development Fund (PIDF) is also dear to the people as well as the completion of the construction of the 215MW Kaduna Power Plant. The people would also want the president to do everything possible to ensure the revival of the moribund textile industries in Kaduna metropolis, which hitherto provided over 10,000 jobs. Resuscitating Abandoned Projects, Tackling Child Trafficking in Bayelsa Asides the fact that Bayelsa State has not benefitted from the School Feeding Programme of the Federal Government which had gulped $183 million as at October 2018, there is also a slew of abandoned projects in the state. Nengi James, a traditional chief and

leader of the Civil Liberties Organisation (CLO) in the state, urged the FG to take over high budget roads in coastal areas of the state. "Bayelsa needs link roads that should be taken over by the FG, e.g the road to Brass and other senatorial roads, the one that links Rivers to Otuasega to Abua and from Biseni to Imo and to Onitsha, which will connect Bayelsa State to the East and then to Rivers state, rather than going round through Edo State. "The financial issues surrounding the Brass Liquefied Natural Gas facility should also be negotiated so that there will be employment for our people. "The FG should situate a fishery industry in Bayelsa and also tackle the environmental degradation. Bayelsa needs total clean-up. The Presidential Amnesty Programme should have a timeline and should be properly funded. Then also tackle all the abandoned projects and pay all NDDC backlogs" he said. In his contribution, Mr Aluzu Ebikebuna, a lawyer and human rights activist urged President Buhari to tackle the issue of child trafficking in his second term. He said: "There is the need to urgently address the problem of child labour and trafficking in the state. Though the child rights law was passed in 2013, the problem remains a recurring decimal with 265,000 children estimated to be out of school in 2018. This is propelled by high level of poverty and illiteracy.� Completion of Second Niger Bridge, Right Policies for Anambra As President Buhari is sworn in for a second term in office, Anambra people have lent their voices to what they expect from the government in the next four years. While some respondents from the state made specific wishes of projects that were domiciled in Anambra, some others mentioned federal projects that though domiciled in Anambra, were deemed to have a large impact on the entire country. For yet some others, it wasn’t just about physical projects, but making the right policies and decisions that will directly affect the lives of the people of the state, who are more predominantly known for being business minded. For Mr Obi Ochije, a human rights

activist, grassroot politician and special assistant to Governor Willie Obiano, five things were most important to the state. He mentioned them to include; quick completion of the second Niger Bridge, tackling of the numerous erosion ravaged areas in the state, early completion of the Enugu-Onitsha expressway, inclusion of the state in the committee of oil producing states and dredging of River Niger to make for navigation and berthing of small ships. This he said will promote ease of importation and business in Nigeria at large. He said, “We are already seeing the signs that the president will favour people of the South-east in his second term, and we wish to remind him to remember our state with the projects we have mentioned. “Just think of the benefits that will come our way if the River Niger was dredged and a sea port established there? What it means is that all our brothers who have to go to Lagos or Port Harcourt before they can clear their containers can do so at their backyard here, and believe me the cost of transportation would be low and the prices of goods would be better handled. “Same for the Enugu – Onitsha expressway. We know that the president is working on that road, but the quicker we finish it the more smiles would be put on the faces of people.� For Mr Osita Obi, the coordinator of Recover Nigeria Project(RNP) a rights group who also spoke tith THISDAY, he said the only thing the Buhari government can do for the people of Anambra and in extension the South-east is to ensure improvement in the power supply in the zone, just as he said that significant increase has been registered in other zones handled by different Electricity Distribution Companies. “I think the biggest thing the Buhari administration can do for the Southeast, but most especially Anambra is to revoke the operating license of the Enugu Electricity Distribution Company(EEDC). Let the company be given to people who can take care of it. This one we have now, I think the license was only used to compensate the owner of the company because of cronyism.� Another respondent, Mr Chukwuemeka Okosa, a businessman in Awka is of the

belief that rather than begin to focus on projects, Buhari should better ensure equity in his appointment, by favouring competent Anambra sons and daughters. “If he does this, then we can hold our own people accountable if they do not work for us. Let him just give us good appointments. Assuming that we get a minister of works from this state, do you think that the minister will not do something about our roads in the state, especially federal roads? That is the key, let him give us good appointments�. Road Construction, Tackling Menance of Herders in Ogun Arising from the incessant attacks on farmers, inhabitants of Ogun State are unhappy with kid gloves the Federal government has applied in handling the menace. With the uneasy calm that has engulfed every part of the state, especially Ogun West Senatorial district (Yewa/Awori axis), the inhabitants whose means of livelihood is farming have had their farm produce ravaged by herds grazing on them. Consequently, the farmers are looking up to the second term Administration of President Muhammadu Buhari to urgently rise to the occasion and address the ugly trend with a view to bringing the perpetrators to book to serve as deterrent to potential culprits. Perennially, commuters and motorists have always been in pain arising from deplorable road conditions of some major highways in the state. For instance, Lagos/Sango-Ota/ Abeokuta is not motorable following the beginning of a new rainy season. A journey that is expected to take an hour is now taking four hours. Likewise, the roads in Agbara, Igbesa, Lusada and Atan (Ogun West) which are host communities to a huge chunk of manufacturing companies that contribute 75 per cent of revenues accruing to the coffers of the state government are begging for rehabilitation. Youths form the bulk of the population of any country. Going by renewed threats to human lives and rising crime rates, youths are expecting the Federal government to empower them, so that they can contribute their quota to the socio-economic growth and development of the state, and the country at large.

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BUSINESSWORLD

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

Í° Ͳ Ëœ Í° ÍŽ ÍŻ ͡ MONEY MARKET OVERNIGHT OBB

REPO 5.93 % 5.29%

CALL 1-MONTH 3-MONTH

6.50% 9.00 % 9.75%

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

387.13%% 0.08% 0.11%

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

0.14% 8.45%

EXCHANGE RATE ͹͎ʹ˛͡ͳ˚ͯ ̊ ̊

Quick Takes Stanbic Pledges More Support for Health

STAKEHOLDERS’ ENGAGEMENT

L-R:DeputyDirector,FederalInlandRevenueService(FIRS),Mr.SundayOkeowo;DirectorGeneral,NigeriaGermanBusinessAssociation,Mr.GbengaAdebija; Vice President Operations, Magnanimous Earthbound Solutions Ms. Ebinyu Falohi; Special Assistant to Director General, NAFDAC, Mr.Williams Effiok at the NigeriaGermanBusinessAssociation’sannualstakeholders’engagementonregulatorystandardsinNigeriathattookplaceinLagos‌recently SUNDAY ADIGUN

Survey: Only 10% of Family Businesses in Nigeria Have Succession Plan Obinna Chima Nigerian family businesses are optimistic about their future growth, even though only 10 per cent of such businesses in the country have robust, documented succession plan. A report by one of the leading professional services firms in the country, PwC, which disclosed this, stated that 77 per cent of family businesses in the country plan to pass on management to the next generation. The Nigerian report of PwC’s 2018 Family Business Survey launched in Lagos on Monday, emphasised the need for family businesses to seek to maximise the competitive advantage that comes from their strong valuesled culture.

ECONOMY The Family Business Survey is a global market survey among key decision makers in family businesses within a number of PwC’s key territories. The goal of the survey was to get an understanding of what family businesses are thinking on the key issues of the day. “Nigerian family businesses have a slightly lower level of perceived concern about the threat from digital disruption (23%) or cyber security vulnerability (33%), compared with global average of 30 per cent and 40 per cent respectively. “In all, 77 per cent of respondents say they plan to pass management to the next

generation but only 10 per cent have a robust, documented and communicated succession plan in place. Women average 30 per cent of board members in Nigerian family businesses,� it explained. Growth among Nigerian family businesses over the last 12 months was lower than the global average with only 53 per cent reporting growth in the last 12 months as against 69 per cent globally. However, 87 per cent expect to grow over the next two years with 40 per cent saying growth would be quick and aggressive against 16 per cent globally. “The top three challenges cited by Nigerian family businesses as militating the personal and business goals are economic environment (70%), corruption (67%)

and regulation (57%). Corruption which PwC estimates could cost up to 37 per cent of Nigeria’s GDP by 2030 if unchecked, is associated with lower investment, higher prices as well as barriers of entry for businesses. “Most strikingly, the 2018 edition of the survey demonstrates a link between putting values at the heart of strategic planning and strong growth prospects. While 67 per cent of Nigerian family businesses have a clear sense of agreed values and purpose as a company, less than half (43%) of respondents have those values articulated in written form,� it added. This year’s report with the theme “Building a lasting Continued on page 24

Group Calls on SEC to Probe Unclaimed Dividends of Delisted Companies Goddy Egene The Securities and Exchange Commission (SEC) has been urged to probe the utilisation of unclaimed dividends by delisted companies and the final pay off of investors of such companies. The call was made in a petition by the Issuers & Investors ADR Initiative (IIADRI), to the Director General of SEC, Ms Mary Uduk, a copy which was obtained by THISDAY on Monday. The IIADRI is an organisation with a mandate to ensure the stability and growth of the Nigerian capital market through

CAPITAL MARKET protection of the rights of both the issuers and investors. There are many companies that have delisted and become private entity without information about what had become their unclaimed dividends. Owing to this, in the petition, the IIADRI stated that: “As you already know we are the foremost organisation with a mandate to ensure the stability and growth of the Nigerian capital market through protection of the rights of both the issuers and investors.

“It is in pursuance of this objective that we call your attention to some unanswered questions arising from the delisting of public quoted companies and seek your clarification on this. It has come to our notice that some companies after declaring unclaimed dividend have gone ahead to deregister as public limited liability companies. “We seek to know the law and policy regarding the unclaimed dividend in such companies as they convert to private limited liability companies.� The group requested for an enlightenment on the policy governing issues of final pay

off money approved by such companies to minority shareholders. “Finally, we call on SEC as the regulator of the capital market to probe all unclaimed dividend and final pay off due to shareholders in all public companies that have converted to private companies to ascertain the safety and where bout of this two set of unclaimed money in the likes of Enpee Plc, Nigerian Bottling Company Plc, Seven-Up Bottling Company Plc, Nigerian Tobacco Company Plc, among others),� it added. Continued on page 24

Stanbic IBTC has again reiterated its commitment to the health and wellbeing of indigent children, even as it promised to continue to work to ensure their educational development. The organisation made these pledges over the weekend atTarkwa Bay,anislandcommunityinLagos,andatShaga,ariverinecommunity in Epe, Lagos, when it distributed treated mosquito nets to school childreninthoseareas.Thegestureaimsathelpingtostemthemalaria scourge among school children. The distributions were done in the communitiesatspecialeventstomarktheWorldMalariaDayorganised in partnership with Slum2School, a non-government organisation devotedtomeetingtheeducationalneedsandaspirationsofindigent children. Head, Marketing and Communications, Stanbic IBTC, Mrs. Bridget Oyefeso-Odusami, while speaking at Tarkwa Bay, said this year marked the ďŹ fth year the ďŹ nancial institution is partnering with Slum2School to sensitise indigenes in areas such as Tarkwa Bay, ShagainEpe,Makoko,andotherdisadvantagedareasonthemalaria blight and ways to ensure a malaria-free environment. According to her, the distribution of the mosquito nets and similar interventions areimportantmeasurestohelpstemthescourge,inlinewiththe2019 theme forWorld Malaria Day, ‘End Malaria for Good.’She stated that the Stanbic IBTC Group’s corporate social investment philosophy is focused on three key pillars of education, health, and economic empowerment.

German Businesses Partner Angola

TheGermanyAfricaBusinessForum(GABF)hasendorsedtheAngola Oil&GasConference2019,organisedbyAfricaOil&Powerandtaking place in Luanda on June 4-6, 2019. This is one of the platforms for German investment, cutting-edge technology and service providers to engage in Africa’s second-largest oil producing market. Since swearing into oďŹƒce, President JoĂŁo Lourenço has galvanised his country’s oil and gas sector, business opportunities and foreign investment with its transformational government reforms. The move supports the government’s quest of diversifying the economy via the development of export-oriented industries and other commodities that will beneďŹ t all Angolans and increase the ability of employers to further generate more opportunities for citizens, investors and the African region at large. Sebastian Wagner, CEO of DMWA Resources and Co-Founder of the Germany Africa Business Forum, said: “President JoĂŁo Laurenço’s focus on creating an enabling environment for investors is resonating with German entrepreneurs and institutional investors. “He has matched the rhetoric with substance through reforms. Germany’sbusinessandeconomicinterestsinenergyespeciallygas is served when Germans invest in Angola’s economic diversiďŹ cation drive and also technology transfer.

Kenya Seeks $750m W’Bank Loan

Kenya is negotiating with theWorld Bank for a $750 million loan for budgetary support, documents on the proposed funding posted on the lender’s website showed onTuesday.The East African nation has multipledevelopmentfundingprogrammes,worthbillionsofdollars, with the Washington-based lender, but the funding bypasses the Treasury and is usually channelled straight into the projects. If the $750 million loan gets approved, it will be the ďŹ rst time in years the WorldBankisputtingcashstraightintotheTreasurytobeusedatthe discretion of the government, said a source with knowledge of the issue. Theloan,whichcomesunderthebank’sso-calleddevelopment policy ďŹ nancing, is designed to support the government’s policy and institutional reforms and help make economic growth more inclusive. The World Bank declined to comment as the loan has not been approved by its board. OďŹƒcials at the ministry of ďŹ nance did not immediately respond to Reuters’ request for comments. Kenya raised $2.1 billion in a sovereign bond this month, but some critics have expressed concerns over the country’s growing debt burden. There has been a jump in government borrowing since President Uhuru Kenyatta came to power in 2013 - a rise that some politicians andeconomistssayissaddlingfuturegenerationswithtoomuchdebt.

“You will all recall that in December 2018, I presented our 2019 budget proposal with the theme ‘Budget of Continuity.’ Our goal was to use this budget to move the economy further on the path of inclusive, diversified and sustainable growth�

President Muhammadu Buhari

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SURVEY: ONLY 10% OF FAMILY BUSINESSES IN NIGERIA HAVE SUCCESSION PLAN competitive advantage through your values and purpose in a digital age� saw family business leaders globally reporting robust health, with levels of growth at their highest level since 2007. Regionally businesses in the Middle East and Africa were the most optimistic, with 28 per cent expecting aggressive growth. They were followed by those in Asia Pacific (24%), Eastern Europe (17%), North America (16%), Central/South America (12%) and Western Europe (11%). Commenting on the report, the Country Senior Partner, PwC Nigeria, Uyi Akpata, said: “The message is clear: adopting an active stance towards company values generates practices that pay off in real terms. A commitment to a clearly defined set of values can act as an ‘inner compass’ and provide a competitive edge for a family business as it navigates the challenges of technological and competitive disruption. GROUP CALLS ON SEC TO PROBE UNCLAIMED DIVIDENDS OF DELISTED COMPANIES The petition, which was signed by the President of IIADRI, Mr. Moses Igbrude and Secretary, Sebastian Udoh, noted that the timely response of the SEC would, “go a long way in enabling us advise the inquiring shareholders and maintain peace in the capital market.� The NSE recently delisted Newrest ASL Nigeria Plc and would soon delist First Aluminium Nigeria Plc. Newrest ASL Nigeria Plc had applied for voluntary delisting of the entire 634 million ordinary shares of the company from the exchange. According to the company, the voluntary delisting was as a result of its inability to meet up with the 20 per cent free float requirement of the exchange. Also, First Aluminium Nigeria Plc has applied for voluntary delisting, saying shareholders were not benefiting from its continued listing as they were not getting exit opportunities, while the company’s shares continue to trade at a significant discount to the intrinsic value.

Group Business Editor

Obinna Chima

Capital Market Editor

ÙÎÎã Ă‘Ă?Ă˜Ă? AgriBusiness/Industry Editor

Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ äĂ? Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents

Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Finance) ĂŒĂ?ĂœĂ? åÙÔÓ (Insurance) Ă’Ă“Ă˜Ă?Ă—Ă? Ă•Ă‹Ă?Ă™Ăœ Ě™(Energy) Reporters

Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (ICT)

US Urges Nigeria to Maximise Agricultural Potential Jonathan Eze The United States Consul General in Lagos, Mr. John F. Bray, has urged Nigeria to leverage on its vast agricultural potential to create wealth and boost its economy. Bray, made the remark in Lagos, at the African Food and Products Exhibition (AFPE) tagged: “Sustainability and Innovation: Pathway to Business Success for SMEs’’ which was organised by the Nigeria-American Chamber of Commerce and industry. Bray, who was represented by the Counselor, US Commercial Service, Brent Omdahl, said the world knew Nigeria as the oil power house of West Africa and not as an agriculture rich nation, adding that the narrative must change. ‘’The task before Nigeria is to show the world its enormous potential in the agricultural space in the world. Nigeria needs to use agriculture to generate more wealth, create employment and grow its economy, the US is doing that and Nigeria can do that too. “In the next 50 years, the world is waiting for a product that would be known all around the world as a signature of innovation from the agricultural value chain in Nigeria. “Would it be shea butter? tiger nut? cashew or palm oil? Nigeria has the comparative

advantage in these products and it should be explored the same way America explored the potential in Cranberry to boost the American economy and grow more wealth,� he said. Earlier, the National President of the Nigerian-American

chamber of commerce and industry, (NACC) Mr. Oluwatoyin Akomolafe, noted that the chamber sought to utilise AFPE to improve profitability and sustainable global competitiveness for Nigerian SMEs.

Hence, he stressed the need for diversification which he said was precisely where the SMEs sustainability and innovation play their role in contributing to economic prosperity. Akomolafe, noted that innovation was crucial to achieving

a strong organisational structure and robust economic growth, adding that Nigeria’s futuristic economic growth could not be sustained with oil revenue alone but continued investment and attractive policies to aid growth of SME’s.

THIS IS OUR SCORECARD

L-R: Managing Director/CEO, Consolidated Hallmark Insurance (CHI) Plc, Eddie Efekoha; Chairman, Obinna Ekezie and Company Secretary/Legal Adviser, MrsRukeweFalana,atthe24thAnnualGeneralMeetingofthecompanyheldinLagos‌recently

Group Lauds FG over Directive on Apapa Gridlock Eromosele Abiodun The Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) has applauded the federal government’s recent directive that trucks should vacate the access roads leading to the port. Speaking at the 22nd Governing Council meeting in Lagos, the Vice Chairman of CRFFN, Henry Njoku, said if the government had acted long time ago, it would have gotten a lasting solution to the infamous gridlock which had over the years defiled solutions. He said the gridlock had not only affected operations of their members but has also crippled other businesses within the port over the years. Njoku, said the ultimatum was achievable stressing that,

“It is better to take action than not to take at all. We are happy that the President has given the directive and I believe the order is achievable. “The problem is that we have laws but people don’t obey it. But with this present order, if fully implemented, it will work. The order will ease not just our operations but other ports users and operators. “There must be solution. We can’t continue like this. People are suffering going to Apapa. The truck operators must find a place to keep their trucks so that the order could work. “For you to get a truck to carry your goods from Apapa we are paying N300, 000 to N400, 000 locally whereas we used to pay N50, 000 to N60, 000 in the past.

“The importers will transfer the cost back to individuals who are buying the goods. So it is important that we know that whatever we do we come back to us,� he said. On his part, the Chairman of the Council, Abubakar Tsanni, faulted claims that the council has been inactive since the new governing council was inaugurated. He said the council had been working towards addressing operational challenges faced by practitioners even as he hinted of plans to commence collection of Practitioners Operating Fee (POF) in no distance time. Tsanni, also denied allegations of financial misappropriation levelled against the council by the founder of the National Association of Government

Approved Freight Forwarders (NAGAFF), Dr. Boniface Aniebonam. According to him, “Collection of POF will start very soon and the council is doing its best to make sure we address both operational and internal issues within the associations. “There is nothing like financial misappropriation in the council. I believe they (NAGAFF) have withdrawn their statement because they realise there is nothing like that. There members are here and I believe they are in the best position to say.� He said with the gazetting of the POF by the Federal Executive Council (FEC), agents would now have the opportunity to get commission and percentage from their declaration.

Registrar of the Council, Samuel Nwakohu informed the board members of plans to mark his 100 days in office as means of engaging stakeholders and showcasing the achievements and potentials of the council. He said his team was already reaching out to stakeholders including the media to reassure them of the renewed enthusiasm by his team to deliver on the mandate of the council to regulate and control activities of freight forwarding associations in the country. In terms of capacity building, Nwakohu said it was expected to have all freight forwarders duly registered and seen to have acquired the FIATA Diploma in freight forwarding and Supply Chain Management by 2021 or stand the chance to be de- registered.

Nosak Distilleries Explores CassavaValue Chain for Ethanol Hamid Ayodeji In line with its quest to source raw materials locally, one of the leading ethanol refineries, Nosak Distilleries Limited, a subsidiary of Nosak Group has taken steps to enhance the cassava industry value chain through the acquisition of over 6,000 hectares of arable farmlands in Edo State. Speaking shortly after the summit, the Group Executive Director, Corporate Services, Osagie Ogunbor expressed

his delight at the organisers of the fourth Cassava and Starch Africa Summit with the theme: ‘Driving Sustainable Development through Innovative Value Chains,’ held in Accra, Ghana. “The two-day summit was a good ground to learn new trends in the exploration of cassava and its many by-products. We participated in this year’s summit as a result of our diversification in the agricultural sector and to explore the option of cassava to ethanol locally,� a statement quoted him to have said.

Ogunbor, disclosed that the Nosak Group was expanding the frontiers through an investment of over N5 billion in the acquisition of farmlands for its backward integration scheme as well as a plant with a capacity of 100,000 liters per day of ethanol thereby empowering youths and farmers with employment in Edo state and other parts of Nigeria. Sharing his experience, the Managing Director, Nosak Distilleries, Osaro Omogiade, noted that the summit was a

platform for industry stakeholders to discuss innovations in farm mechanisation, new cassava processing projects, starch market opportunities, sourcing challenges faced by end users and many more. Speaking further, Omogiade said, “Nosak Group has acquired over 19,000 hectares in Edo state for plantation purposes. These farmlands will enable the Group grow three of its subsidiaries: Premier Plantations Limited for cassava plantation and conversion to ethanol for

Nosak Distilleries Limited while Nosak Farm Produce Limited and Saturn Farms Limited will increase their plantation base for palm oil, milling, and refining.� Cassava holds enormous potential as a food security crop and has become a raw material for an array of processed products that will increase demand for the crop. To achieve this, he said, “crop yields will have to be improved through mechanisation, betterquality stems, frequent weeding, quality fertilisers among others.�

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Linkage Assurance Enhances Customer Satisfaction Stories by Ebere Nwoji Linkage Assurance Plc said it has strengthened its customer service centre. According to the company, the centre, which has been equipped with state of the art technological infrastructure and more trained personnel would ensure that customers have unrestricted access to the care officers for any complaints they may have before or after any transaction with the company. Linkage Assurance said the initiative was part of its commitment to ensure that its customers get the best of attention and are able to resolve their complaints without going through many protocols,

Managing Director/CEO of the Company, Daniel Braie, who disclosed this during the formal launch of the refurbished centre at the firm’s corporate head office in Lagos recently, said the initiative was in line with the company’s vision to continue to enhance customer experience. “What we have done today is one of the initiatives we have in our strategy to increase customer service experience because as an insurer, customer is the reason we are in business,� Braie said. Braie, noted that in the past, customers with complaints were directed to the technical officers, but the company had discovered that allowing the

customer care officers to take their complaints and follow through until is resolved gives better experience to the customers. “This initiative is targeted at strengthening the customers’ dispute resolution process and enhances the confidence they have on the company’s activities as an insurance company,� he added. Braie, also noted that the centre was launched to provide the customers a platform and channel through which they can register their complaints and also to build confidence in current and prospective customers about the firm’s services and ability to meet their expectations.

FBNInsurance Rewards Shareholders FBNInsurance Limited has announced a dividend pay-out of 65 kobo per share for its shareholders at the close of business for the year ended December 31st, 2018. The life underwriting specialist, said this translated to an 85 per cent increase in the 2017 dividend paid, which was 36 kobo. The Chairman of the company, Adenrele Kehinde, in an address to shareholders at the Annual General Meeting of the company held in Lagos recently, said FBNInsurance increased its Gross Premium Written (GPW) by 33 per cent to N26 billion in 2018, from N19.6 billion in 2017; while profit before tax (PBT) appreciated by 44 per cent from N4.2 billion in 2017, to N6.13 billion in 2018.

She attributed the growth and outstanding performance of the company in 2018, to its commitment in putting its clients first and resilience in achieving remarkable milestones. “Ours is a business of trust and as part of our efforts geared towards maintaining indisputable leadership in the life insurance sub-sector, we have built a solid foundation where our clients can insure their trust because of our reputation over the years of paying claims promptly,� she said. She said the performance was driven by the company’s sustained growth and penetration into the retail segment of the industry. “Over the same period, as a responsive and responsible

organisation, we promptly paid claims to our clients to the tune of N4.8 billion, which is a 66 per cent increase from N2.9 billion in 2017. “Our strategy remains to provide financial security to our customers. We are keen to attain uncontested leadership status in the life insurance sub-sector as well as aggressively exceed our customers and shareholders’ expectations,� she said. Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, stated that the company closed the year with positive results and also made prompt claims payments to customers despite the unpredictable economic situation in the country occasioned by preparation for the just concluded general election.

Leadway Assurance Pays N33.8bn Claims in 2018 Leadway Assurance Company Limited recently held its 47th Annual General Meeting (AGM) in Lagos, where the company presented its 2018 financial results to its shareholders and stakeholders. Among key announcements made at the Annual General Meeting was increase in claims paid by the company, from N27.4billion in 2017 to N33.8billion in 2018. The company said it also recorded a 15 per cent growth in its asset base, with N312.7billion recorded in 2018, as against the N271.9 billion realised in 2017. Speaking during the company’s AGM, the MD/CEO, Mr. Hassan Odukale, restated the company’s commitment to prompt claims payment as the cornerstone of its business principle. He revealed that the company had paid claims in excess of N110 billion over the last five years. “The value we have created over the years is embedded in

n is committed

the loyalty and commitment of the greatest number to keep Leadway as a legacy for several generations. “We are sincerely grateful to our treasured customers, brokers, agents and other stakeholders who have objectively trusted in the liquidity advantage and unmatched conservative risk reserves we hold as a yardstick for placing certain risks with us. “We are equally grateful to them for the testimonial campaign which attest to us as the insurer to beat in claims payment,� he said. On the future outlook of the company, Chairman, Board of Directors, General Martin LutherAgwai, said Leadway’s operation in 2019 and beyond would be driven by digitisation and creativity, to harness unexploited and prompt means of selling insurance as a contingency benefit to its target market, while also strategically

deepening the penetration of insurance to smallholder farmers in every community through the instrumentality of Area Yield Index Crop insurance and creating insurance awareness in the rural communities. He noted further that with Leadway Vie (a Leadway subsidiary domiciled in Abidjan, Cote D’Ivoire), the company had registered its presence in West Africa, beyond Nigeria, and was moving up the ladder. “On our part, we will not rest on our oars and will intensify our corporate strategy to identify the needs, behaviour and culture of our potential customers with an attentive ear to market-feedback and create products to address and protect the underlying risks the populace is susceptible to. “Leadway Assurance is one of Nigeria’s foremost insurance service companies with a reputation for service efficiency and customer reliability.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Achieving Significance for Yourself and Business One Aha! Moment I had when I started to run my business and give of myself is the fact that you have a stronger opportunity to achieve significance for yourself when you work for yourself and give of yourself than when you work for a big employer or establishment because of the control you have. However, you can achieve significance wherever you are – whether as an employee or an employer of labour. When I came out of my ivory tower, I began to see that there was a whole big world out there, I had not explored. I also came to the realization that a lot of people were making significant impact with their talent and time by giving and achieving great results in their significance journeys. Please do not get me wrong, it is great to work for a big organization and many people have achieved significance working in big organizations. These organizations play a pivotal role in our lives as they help in giving financial stability as you start out in life and sometimes grow and continue your career. You get to understand structure, working with people and teams, learn new concepts and theories to apply in your area of specialization, and contribute to the overall mandate of the organization in order to take the organization to the next level. The only snag here, is that we usually forget and subsume ourselves when we work for these organizations because we do not know that we can also think about building ourselves up in all ramifications separate from the organization as we work in these organizations. If you are reading this and saying that’s me, because that was me too, then this article is for you. If this is for you, you need to take action. Start by looking at the lives of people who have achieved significance, they did not stumble upon significance they were intentional about making their lives matter. Soren Kierkegaard said, “to dare is to lose one’s footing momentarily. Not to dare is to lose oneselfâ€?. Mahatma Gandhi said, “Be the change you want to see in the worldâ€? and Steve Jobs, the ultimate disrupter said, “here’s to the crazy ones. The misfits. The rebels. The troublemakers, The round pegs in the square holes. The ones who see things differently‌.Because people who think they are crazy enough to think they can change the world are the ones who do.â€? As indicated above, the number one catalyst

Don’t waste your potential in life, success is very good and should be at the forefront of what we do. But, remember to also seek signiďŹ cance: realize life won’t last forever, live a life worth copying, ďŹ nd an interest outside your job, realize that signiďŹ cance is not always dependent on ďŹ nancial success, read the biography of people who sought signiďŹ cance and start to mould your own story of signiďŹ cance

to achieving significance is to take action. Jim Rohn said, “One of the best places to start to turn your life around is by doing whatever appears in your “I should listâ€?. John Maxwell said, “every time we choose action over ease we develop an increasing level of self-worth, self-respect and self-confidence. In the final analysis, it is often how we feel about ourselves that provides the greatest reward from any activity. In life it is not what we get that makes us valuable. It is what we become in the process that brings value to our lives. Action is what converts human dreams into significance. It brings personal value that we can gain from no other source.â€? Living a life of significance will help you find your voice, develop your character and achieve fulfilment. I am on this journey and I know you can too. Joshua Becker, in his article “Stop Chasing Success. Seek Significanceâ€?, gave these correlations on success and significance. Seeking success alone, which is very good, without weaving in significance can be detrimental to our significance journey because of its inherent limitations: r4VDDFTT FCCT BOE ĂĄPXT XJUI UIF FDPOPNZ As recent years have proven, financial success is always at the mercy of a national economy and increasingly, a world economy. When the economy takes a downturn (as it always does), so does net worth. r 4VDDFTT FOET PO UIF EBZ ZPV EJF 0O the day you die, all wealth and possessions will be immediately transferred to someone else. And even if you get to pick where they go, the reality is that person is always someone other than you. r 4VDDFTT JT OFWFS FOPVHI 'JOBODJBM success will never satisfy the inner most desires of our soul. No matter the amount of financial success earned, it always leaves us wanting more. On the other hand, compare the advantages of significance: Significance always lasts. Significance will always outlast you. Even when you are no longer present, your significance will still be yours. And nothing can ever take that away from you. Significance carries on. Significance keeps on giving. When you positively change the life of another human being‌ and that person changes the life of another‌ who impacts UIF MJGF PG BOPUIFSw XIP JOĂĄVFODFT BOPUIFS Significance satisfies our soul. While the thirst for success is never quenched, significance satisfies our deepest heart and soul Don’t waste your potential in life, success is very good and should be at the forefront of what we do. But, remember to also seek significance: realize life won’t last forever, live a life worth copying, find an interest outside your job, realize that significance is not always dependent on financial success, read the biography of people who sought significance and start to mould your own story of significance.

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

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Towards a More Attractive Stock Market The Securities and Exchange Commission and the Nigerian Stock Exchange recently took steps capable of attracting more listing and trading on the stock market, writes Goddy Egene Given the population of Nigeria, which is estimated at 200 million people, it is seen as a good market for goods and services. It is also believed that many companies ought to be operating successfully through high enjoying high patronage based on the huge population. However, this has not been the case. Whereas there are many registered companies in the country, not all of them are operating successfully due to certain factors. Two major factors that affect the operations of companies negatively are high cost finance and poor infrastructure. Although there is an existing capital market where companies ought to get relatively cheaper funding, the patronage of the market has not been as encouraging as expected. About 168 companies are listed on the Nigerian Stock Exchange (NSE), a number that is too low considering the fact that NSE has been in existence for 59 years and there are several thousands of companies eligible for quotation. Instead of more companies getting listed on the NSE, listed ones are exiting. Notable firms such as Nigerian Bottling Company and Seven-Up Bottling Company Plc have left the exchange, apart from smaller companies. Newrest ASL Nigeria Plc also was delisted two weeks ago, while First Aluminium Nigeria Plc will soon be delisted. While some companies are opting for voluntary delisting, MTN Nigeria Communications Plc got listed on the NSE by introduction two weeks ago. The admission of the largest telco firm in Africa onto the Nigerian market, lifted the market capitalisation of the exchange from N10.6 trillion to N13.6 trillion. Streamlining Listing Process However, in new efforts to ensure more companies get listed on the NSE, the Securities and Exchange Commission (SEC) and the exchange have made moves to make the processes involving listing more efficient and cost effective by streamlining the approval process. The streamlined process, which will come into effect on June 1, 2019, is aimed at reducing the regulatory burden on issuer’s by eliminating duplication of processes between the SEC and the NSE, reducingthe time to market for the issuance and listing of securities and ultimately driving more listing on the exchange. With the streamlined processes, the SEC and the NSE would carry out joint site visits of companies intending to get listed, following the registration of their securities with the SEC. In the same vein, certain offer documents such as the Vending Agreement, Underwriting Agreement, Trust Deed and ISPO, identified to be strictly within the jurisdiction of the SEC are to be submitted only to the SEC. Also, the exchange will rely on SEC for approval of offer documents such as a Prospectus. Commenting on the development, the Acting Executive Commissioner, Operations, NSE, Mr. Isiyaku Bala Tilde said: “Streamlining the issuance process with the listing process of the NSE is a major milestone for the commission in its quest to create an enabling environment capable of attracting new listings. “One of our core values is leading by example, and we hope that other stakeholders will also look inward to explore similar initiatives which will ensure quick time to market of securities in our market. We have no doubt that the streamlined process will enhance the competitiveness of the Nigerian capital market as a global investment destination.� Also speaking, Executive Director, Regulation, NSE, Ms. Tinuade Awe, said: “I commend the SEC for working with us in streamlining the listing process for securities on the exchange. The NSE is much obliged for the SEC’s demonstration of a worthy example of effective collaboration all through this process in the interest of the market. As an agile exchange, we are determined to make it easier for issuers to list their securities in our market in an efficient, timely and cost effective manner. The NSE began its collaboration with the SEC by identifying areas of duplication and overlap between the two organisations, paving way for a better experience for issuers. We believe

NSE Building

this will potentially attract more issuers to list their companies and other securities on the NSE.â€? New listing rules As part of the efforts to attract more issuers to the market and make trading on the stock more efficient, SEC approved some new rules and amendments of existing ones proposed by the NSE. The rules are: on securities transactions between dealing members of the NSE, which will become effective June 3; Rules for listing on the Growth Board of the NSE, to be effective June 17; Rules governing free float requirements for issuers listed on the NSE, effective June 3; Rules on price stabilisation of securities, effective July 15 and Rules on release calendar for regulatory announcements and filings of listed companies, effective September 2, 2019. According to the NSE, all the rules were approved by SEC on May 6, 2019. Free oat According to the rule, free float means the number of shares that an issuer has outstanding and available to be traded on the exchange. “ It includes all shares held by the investing public, and excludes shares held directly or indirectly by promoters, directors and their close relatives; strategic investors holding five per cent and above of the issued share capital or government,â€? it said. The rule states that for any issuer seeking to list on the Premium Board, its free float shall be: (a) 20 of the Issuer’s issued share capital made available to the public and held by not less than three hundred (300) shareholders; or (b) valued at N40 billion or more, or any value prescribed by the exchange from time to time, on the date The exchange receives the issuer’s application to list. For issuer seeking listing on the Main Board, its free float must be 20 per cent of shares held by not less than 300 shareholders or valued at N20 billion or more, or any value prescribed by the exchange from time to time, on the date the exchange receives the Issuer’s application to list. For Alternative Securities Market (ASeM) Board, free float shall be 15 per cent of the shares and held by not less than 51 shareholders or valued at N50 million. The rule provides that the exchange may grant extension of time to an Issuer to comply with the minimum

free float requirements if: it believes that the market can operate fairly and in an orderly manner with the issuer’s existing level of free float or it receives an undertaking from: a majority holder of shares in the issuer holding a number of securities equivalent to at least five per cent of the issued shares, or a combination of holders of shares in the Issuer, holding a total number of securities amounting to at least five per cent of the issued share capital, to make available to the investing public a specific number of securities, required to restore the Issuer to the required free float level within such period as the exchange may approve. The Issuer shall produce and submit to the exchange for consideration and approval, an acceptable compliance plan in that regard. Dealing with free float deficiencies According to the rule, where any Issuer is not compliant with the free float requirement, and the exchange notifies such Issuer of that fact, the following shall be applicable: The Issuer shall within 10 business days of receiving the exchange’s notification, initiate discussions with the exchange on the Issuer’s plan for restoring itself to a state of full compliance with the free float requirement. “ Within three months of receiving the exchange’s notification, the Issuer shall produce and submit to the exchange for consideration and approval, an acceptable compliance plan setting out a programme for restoring itself to full compliance with the exchange’s listing standards. “Upon receiving the exchange’s approval on the compliance plan, the Issuer shall immediately commence implementation of the plan towards achieving full compliance within such period as The Exchange may approve. “Within 10 business days of the exchange’s above decision, the Issuer shall notify its shareholders in writing via a notice submitted through the exchange’s Issuers’ Portal that if it does not achieve the required free float within the stipulated timeframe, the exchange may suspend trading in its securities,� the rule states. The rule provides that exchange will commence the process of delisting an Issuer’s shares if: The Issuer fails to respond to the exchange within 10 business days of receiving the notification referenced in Rule 3.1 of these free float rules or the issuer fails to produce and submit an acceptable compliance plan to the exchange within three months of the

exchange’s publication of its name on the exchange’s periodic “X-Compliance Report� as operating “Below Listing Standard�; or the compliance plan submitted by the issuer is not acceptable to the exchange, and the issuer fails to produce and submit an acceptable alternative plan within 21 business days of the exchange’s rejection of the initial plan; or the issuer is unable to return to a state of full compliance with the exchange’s listings standards within such period as is reflected in the issuer’s compliance plan approved by the exchange. The Growth Board In addition, to make listing more attractive and requirements more flexible, the NSE introduced new rules on Growth Board. The exchange said the aim of the new board was to provide a platform for greater global visibility for eligible Nigerian entities and foreign companies, which will engender global capital flows. For any firm to be quoted on the Entry Segment already be listed on the Main Board or Alternative Securities Market (ASeM) Board of the exchange or seeking to list on the entry segment. “Is duly incorporated as a public company limited by shares and has been in operation for at least two years, and has audited financials prepared in line with the International Financial Reporting Standards (IFRS); grown its revenue by a minimum rate of 20 cumulatively in its last years of operations; or is a new business that can provide evidence of investment in it by: a core investor or a strong technical partner that has a minimum of two years’ operating track record, or a majority shareholder who is either a high net worth individual or is a director of a listed company; and has a market capitalisation that is equal to, or is in excess of N50 million on the date the exchange receives the issuer’s application to list on the Entry Segment; and has a minimum free float of 10 per cent of its issued share capital; and has appointed a Designated Adviser or such other relevant professional as may be prescribed by the exchange from time to time; and has a minimum of 25 shareholders or such other number as may be approved by the exchange from time to time. Rule for price stabilisation Another rule that is expected to ensure stable prices of stocks on the local bourse is the one on Price stabilisation. According to the rule, price stabilization is a trading activity aimed at supporting and maintaining the price of eligible securities during the stabilisation period by the Stabilisation Manager for the purpose of establishing an orderly market in the immediate secondary market after an offer. “Stabilisation period the time frame within which price stabilisation transactions are permitted which shall not exceed 30 calendar days from the date of listing, or 30 calendar days from the first day of the trading of the securities in the offering (as may be applicable). For price stabilisation to occur the issuer shall ensure that a prominent statement appears in the Prospectus or other offering documentation which clearly states: (a) the existence and maximum size of any over-allotment option and any conditions for the exercise of the overallotment option; that price stabilisation may be undertaken for the offer, however, that there is no assurance that it will be undertaken, and that it may be stopped at any time within the 30, being the earlier time between: (i) the exercise of the over-allotment option, when the shares purchased for price stabilisation equals the over-allotment size, or (ii) the end of the stabilisation period; the nature and effect of price stabilisation including the fact that price stabilisation is aimed at supporting the market price of the eligible securities; (d) the identity of the stabilisation manager; and (e) the date of commencement and closing of the stabilisation period; and the provider (offeror or issuer) of eligible securities for the over-allotment option.

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TEXEMHoldsLeadershipWorkshopinLagos Oluchi Chibuzor Renowned British motivational speaker, John Peters, is expected to be in Nigeria for a leadership workshop that he will deliver for between 19th and 20th in Lagos. The programme was designed by world TEXEM and UK-based firm. The topic of the workshop is: “Developing Efficient and Effective Leaders for Success in an era of slow growth and low-performance.â€? According to a statement, Peters will speak to several dignitaries in the private and public sector. He would share strategic insights on the topic of developing effective and efficient leaders for success in an era of slow growth and low performance. It would also serve as a networking occasion for the various attendees since the event was expected to attract the crème de la crème in Nigeria. Particularly, participants would develop crucial skill sets to navigate the difficult economic landscape, learn out to turn challenges into opportunities with confidence and achieve sustainable outcomes. Leaders who attend would learn to motivate individuals and teams for enhanced organisational performance in challenging contexts; promote effectiveness and efficiency in their organisation; and communicate their strategic goals effectively

Peters

to critical stakeholders. In addition, they would understand the personal experience of transformational learning and how to bring about change in their organisation; leverage their leadership vision to guide continued development and success; demonstrate expanded capacity and skill as a leader; and access a network of engaged colleagues across sectors.

Furthermore, participant would, “deepen their selfawareness and better access to the choices available through their leadership role.� Some previous participants who had attended TEXEM’s programme shared their experience. For instance, the Executive Director, Shared Services, Fidelity Bank, Chijioke Ugochukwu said: “It’s been a really intellectually

FG Considers ITF’s Strategies to Tackle Unemployment Seriki Adinoyi in Jos As the federal government continues to make efforts towards tackling rising unemployment in the country, the strategies proffered by the Industrial Training Fund (ITF) had taken the centre stage. Stakeholders recently gathered at Abuja to take a critical look at the strategies with a view to implementing them. Disclosing this in Jos recently, the Head, Public Affairs, ITF, Mrs. Suleyol Fred Chagu, said the federal government convened a stakeholders’ forum that would articulate strategies for job creation. The meeting took place in Abuja on Monday and was chaired by the Minister of the Federal Ministry of Industry, Trade and Investment, Dr. Okechukwu Enelamah.

She added that the report, which focuses on four sectors of the economy namely, agriculture, construction, transport and services sectors deemed to have the greatest potential for job creation, projects that about 15 million direct and indirect jobs will be created if the ITF proposals are fully implemented. According to Chagu, “Highlights of the report indicates that in the area of agriculture, which is the major pre-occupation of Nigerians and a key focus of the next level agenda of the federal government, a significant number of direct and indirect jobs will be created along the agricultural value chain through the implementation of the following programmes: the Vegetable Value Vantage (TRIPLE V), Livestock Production (LIPRO) and Women

Driven Agricultural Mechanisation Programme (WODAMP). “In the Construction and Services sectors, over hundreds of thousands of direct and indirect jobs will be created for Nigerians using the Mass Housing Development Projects (MAHODEP) and Rural Transportation Empowerment Programme (RUTEP), the Mega City Travel – Rail Based (MECIT-RB) and Mega City Travel–Bus Based (MECIT-BB) initiatives the Infrastructural Maintenance of Government Structures (IMOGS) in the transport sector. And in the services sector using Auto-Diagnostics and Services (ADASE), Environmental Waste Management (EWAM), Renewable Energy Services (RES), Creative Arts and Digital Media Programme (CADMEP) and Service Hubs (SE-HUB).�

Ministry of Niger Delta Affairs Trains 40 Physically Challenged Okon Bassey in Uyo In order to improve on their living condition, the Ministry of Niger Delta Affairs has trained 40 persons with various form of disabilities in Akwa Ibom State on skill acquisition and empowerment programme. The beneficiaries selected from the Ikot Ekpene Federal Constituency of Akwa Ibom State, were trained on bead making, confectionery and entrepreneurship. At the end of the two weeks training, the participants were presented with certificate of participation, starter

pack and the sum of N300, 000 each to aid them set up their businesses. The Minister of Niger Delta Affairs, Pastor Usani Uguru Usani at the closing ceremony of the training programme in Ikot Ekpene local government area of the state recently, tasked the beneficiaries to make good use of the training given to them. The minister who was represented by the Principal Officer of the Economic Empowerment Department of the Ministry, Mrs Bibiana Udoh, reminded the beneficiaries that the package

was arrange to teach them how to fish rather than give them fish. “It is my hope and desire that no sooner than we can imagine, you too will become established enough to contribute towards the training of other persons with disability in your state and beyond. “The ministry is aware that training without support at the terminal point is an effort in futility, as part of the program, an empowerment package has been put together which is meant for you to be able to commence an enterprise of your own.

energising exercise. I think it’s a Global standard and I have gotten lots of insights already.� Also, the Executive Director, Halogen, Bosun Sosanya, “I’m glad to be part of this session. Firstly, the resource people are quite commendable, and the form of case studies are enlightening. “I’m delighted with the quality of colleagues in there and the ideas shared from experience.

This is a session I will like to be part of again.� Also, the Operations Director, Seplat, Effiong Okon noted that, “It’s the first time I’m doing a local programme in Nigeria and its actually quite interesting. The first thing I liked about it is the diversity of the participants. “I also like the edgy conversations we had with Christian and Alim. It’s quite thoughtprovoking.� Similarly, Controller of Programme, Channels TV, Ambrose Okoh, said: “I have enjoyed every part of it. It’s been wonderful. The lecturers have put in their best. I will recommend this course for anyone who wants to grow his business. And it’s an excellent course to attend for business executives.� “During the programme, we have been able to understand the value that people add to the growth of an organisation. If you look at the entire experience, there is a mind shift and a lot of drive added to the organisation to ensure that the success level is sustained,� Molade Faseru, who is the Divisional Head, Retail Banking, GTBank said. The training facilitator, Peters, has been plying the public speaking stage for 15 years now. He has travelled nations delivering moving speeches that many confess have impacted their lives positively. He has dedicated his life

to helping senior executives with leadership, strategy and change and has featured as a faculty on some of TEXEM’s value-adding programmes. He gained prominence in 1991 when Saddam Hussein’s brutal men paraded his battered face as a prisoner of war. His disfigured face stuck in minds and became a symbol of Sadam’s ruthless aggression. He is a favourite to many thanks to his ability to relate his story to everyday challenges. Peters employs humour even in a sad story, an attribute that helps him win attention. When he is not visiting countries to speak, Peters is a visiting Professor at several universities in the UK. He has taught at Aston and Henley Business School. He is the former chair of the Association of MBAs. His achievements are testaments to his survivor par excellence credentials. Peters is also an author and has written two best-selling books. He is currently writing a new book on leadership. A documentary on his life, ‘Tornado Down’ was Independent Documentary of the Year and scooped a nomination in BAFTA and Emmy. He has extensive international TV, radio, PR and media experience. As a public speaker, his interest is talking about uncertainty, organisational learning, leadership, trust and failure.

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WEDNESDAY MAY 29, 2019 • T H I S D AY

WEDNESDAY MAY 29, 2019 • T H I S D AY

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Usman: Nigeria an Important Destination for UAE Investors With over 20 years of work experience as an entrepreneur and development specialist which spans across private and public sectors, Hajia Mairo Usman, has been a member of the African Women Entrepreneur Program founded by the then United States Secretary of State, Hillary Clinton. In the last six years, she has been connecting UAE investors to Nigeria. In this interview with Shola Oyeyipo, she speaks about the UAE annual investment meeting. Excerpts: environment is conducive enough for foreign investors, considering for instance when you succeeded at attracting investors only for them not to be able to come in? To be fair to them and to tell you how much they wanted to come, they agreed to come to Lagos. We tried to do it in Lagos. The Minister of Trade and Investment actually spoke to the governor in Lagos and the governor was going to host them. We had gotten Intercontinental Hotel for them to stay there and the governor had agreed to host them. Unfortunately, at that time, they were getting the report that there were lots of security challenges in Nigeria, so they postponed it. But as I mentioned to them at the time that was the same time that we had Mark Zuckerberg, King of Morocco, Melinda and Bill Gate, all came to Nigeria at that period and I said, well if you can have people that actually own like one-third of the world economy coming to Nigeria at that time‌but they postponed.

What have you been doing between UAE investors and the Nigerian business environment? I worked briefly in the bank before I went into the private sector. In 2014, I went to the UAE, Dubai to be precise, for an annual investment meeting as delegate myself, and I was introduced to the Director-General of the programme, and consequently he asked me to be their representative for Nigeria. They were looking for individuals and countries to represent them. Initially, there were other representatives in other African countries in West Africa, but right now, I think I am the only representative that they have there now. So, for the last five years now I have been taking attendance from Nigeria. It is run by the Ministry of Economy of the UAE. They invite people. They invite all state governors and from public and private sectors and I have a master list for them and also screen people for them among those who show interest. Over the years we have had people from the public and private sectors. Part of what I do is also to recommend who speaks on their panel. So, over the years, I have had people like Tonye Cole from Sahara, I have had Uche Orji from the Sovereign Wealth Fund and every year they also invite the Minister of Trade and Investment from each country. So, the one we have had has been the Minister of State, Trade and Investment, Hajia Aisha Abubakar and she is always on the panel. IPAs of countries are also definitely a part of us.

Do you think there are conditions that can help you do what you are doing better? I need a lot more cooperation because there is a lot of bureaucracy. Definitely I need more cooperation from the bureaucracy of government agents and parastatals, but it is getting better but we can still do with some of the bureaucracy being reduced.

How were you able to get President Muhammadu Buhari to be on the recent panel? Since last year, we have been working on getting the president to attend and it became much easier for me because the new ambassador for the UAE, Fahad Al Taffaq, who is here Usman now, both of us worked together and he is looking for business with Nigeria. Together, made here, so they definitely want to invest we worked on getting the president to attend in Nigeria. We had started arranging for 55 investors to and the president was invited by the ruler of Dubai who is the patron of this program. So, come to Nigeria about two years ago. It was that was how we got to achieve this; also, with the time they were fixing the runway of the the help of our ambassador who is in Dubai, airport. It was during that time, so logistics Mr. Dhabi Mohammed Dansanta Rimi. So, we became a problem because for them, flying got the president to attend this year. We also straight to Abuja was okay since they were had on the panel what they call ‘The Global coming to new territory. But by the time we Leaders Panel,’ which was the first panel of the told them they had to go to Kaduna that was event and I had Wale Tinubu of Oando. The cancelled. That is to explain to you the kind Executive Secretary/Chief Executive Officer, of interests they have in Nigeria. So, they have been trying to get the president Nigerian Investment Promotion Commission (NIPC), Ms. Yewande Sadiku, also attended, she of Nigeria to attend this function because the was on the panel. This year, I told them that people want to meet the leader of Nigeria Nigeria is diversifying; minerals and mining and they want to meet the business people are very important for us right now. It’s a of Nigeria because they want to come and sector that there is a lot of importance being invest in Nigeria - they are very interested put on it, so I had them invite the Minister to invest in Nigeria. of Solid Minerals and so he was also on the panel called ‘Invest in Africa.’ Over the years we have had attendance from state governors. This year, Ondo, Niger, Edo state governors came; Osun was coming but unfortunately had to cancel at the last minute. Other years we have had from Rivers State, Plateau State, Kano also attended twice and we get attendance also from the NCC, BOI SEC; it cuts across. So, it’s been good for me and I am quite happy with what I have achieved and I think with their continued presence there, they obviously are gaining out of it. The president was there this year, what did that really mean for Nigeria? They (UAE investors) have a lot of interest in Nigeria, as 55 investors were going to come from the UAE. The UAE is very interested in Nigeria. I think possibly because of our number. They know that there is a lot of money to be

For me personally, I don’t believe right now there is any country that is purely secured in the world. So, it is not all about security, it is all about the money and where the investors can make money. That is what they are interested in. And they are very interested in Nigeria. That much I will tell you

How do you evaluate the Nigerians Ease of Doing Business policy, has it been helpful to you? There is a lot that can be done, because I will be very honest with you; I am dealing with the UAE and that is what I know and we definitely have companies whom have come to me and I have introduced to the minister and they have explained how they have tried to come into Nigeria to do businesses and they met a lot of frustrations that made them leave. The visit of the president now has further sealed that and I know that definitely we are going to see and get more investors from the UAE. How does this beneďŹ t an average Nigerian and how do they get involved in this kind of process? What it means is that once there are more investments in Nigeria and more factories are set up, that is employment. So, that is how an average Nigerian is going to gain out of this. Are there tangible achievements that you can point to in the last six years? I am not in the position to start discussing it. It is not for me. If you want to hear what NIPC has achieved they will tell you; if you want to hear what Kano State has achieved, they will tell you, I am not in the position to discuss what they have achieved. I don’t have the mandate to do that. But what I am saying is that because their attendance has been very frequent, I don’t think they will be coming back if they are not gaining anything out of this function which has well over a 100 countries attending it every year. You meet leaders and business leaders. I will take that to mean that perhaps there are some tangible beneďŹ ts that have been attracted to Nigeria? Absolutely! That is why I said they will not be going. Like in said, Kano State governor has been there twice and Niger State governor has been there twice. So, that is why I am saying I don’t think they will be going back if they were not getting any benefit. Do you think the Nigerian investment

Do you see a future of mutually beneďŹ cial economic and investment relationships between Nigeria and the UAE? Absolutely! Can you be speciďŹ c about the areas you are optimistic about? Infrastructural development, agriculture, science and technology; you see their cities, you see Dubai, you see Abu Dhabi, I don’t need to say anymore. Our security challenges haven’t gone away, how do you think we should proceed if we want to keep up with this relationship? For me personally, I don’t believe right now there is any country that is purely secured in the world. So, it is not all about security, it is all about the money and where the investors can make money. That is what they are interested in. And they are very interested in Nigeria. That much I will tell you. So, the matter of them not coming to invest in Nigeria because of security I don’t think is a problem, it will only become a problem if they come to invest in Nigeria and they find that they cannot operate in Nigeria and then they will pack up and go. But as far as coming to invest in Nigeria right now, they are very interested because we have the numbers. That is bottom line. When the president was around, he met with some of the business community there and one of them is someone who actually owns a conglomerate of supermarkets and he wants to come to Nigeria. They are just looking at the numbers. We are over 200 million and that is money for them. So, security is not a big issue because I don’t think there is anywhere that you are 100 percent secure.

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BUSINESSWORLD

INTERVIEW

Omisore: Retail, Key to AddressingYouth Unemployment The Chief Executive Officer, Topservices Limited, Chief Tokunbo Omisore, a firm that has through partnership developed several malls in Lagos, Ibadan, and other parts of the country, in this interview, explains that the retail segment has the potential to solve Nigeria’s rising unemployment challenges. He, however, highlights the importance of funding for such projects. Oluchi Chibuzor brings the excerpts: The interest rates on loans for the development of the mall are high with a short time for the repayment, investors and banks are often only willing to invest in government securities which pay high returns. If I can buy a risk-free 180-day treasury bill that pays me a 20 per cent interest rate, I see little incentive in lending to a risky individual or institution, and if I do, I will charge an exorbitant interest rate. Similarly, if I could get such a risk-free 20 per cent return in half a year, why should I invest in the REIT? In short, high-interest rates on government securities draw investment away from other areas of the economy. This is not helping the retail sector capable of solving the problem of unemployment in the country.

What’s the potential of the retail industry in Nigeria? The retail industry has several benefits to the economy: apart from the increase in employment, increase in revenue to the government, modernisation of the environment, tourist attraction, and infrastructural development, it will also drive events in other industrial value chains, such as agriculture and manufacturing. Most of these retailers will buy a large portion of their products from local farmers and manufacturing companies in Nigeria. We have seen this play out with Shoprite, where most of the outlet’s supplies are sourced locally, especially its food supplies. Some view malls as mere real estate and not as providing signiďŹ cant externalities. Is this a correct view of malls? This is not a correct view. Malls can be likened to infrastructure like roads, bridges and so on that are capable of providing employment to the youths, starting from the construction stage and its entire lifespan, and contributing more to Gross Domestic Product (GDP) which lies in the Government’s ability to provide a special fund to the sector. The construction of roads and other infrastructure that the government is embarking upon will not automatically translate to reducing unemployment. However, a formal retail industry has the potential to employ millions of Nigeria’s teeming youths and improve incomes. What are the beneďŹ ts of organised retailers like Shoprite to the various SMEs, manufacturers and farmers? An organised retailer like Shoprite who now presently has 25 stores spread across the country will benefit various SMEs to showcase and sell their products with a single transaction, unlike the time when their products are limited to their immediate environment thereby hindering their growth. This large platform as well goes to the manufacturers and the farmers who now have a reliable organised market to sell farm produce without getting spoilt, and suffering loss.

Omisore

Unemployment is a signiďŹ cant challenge for the country’s development. What potential does the retail industry have to solve this challenge? Nigeria’s retail sector remains relatively underdeveloped. Over 80 per cent of the shopping is still carried out at the traditional shops such as corner shops, kiosks, local markets and also from street vendors. According to the International Labour Organisation (ILO), at least 142 million people work in the retail sector in developing countries. Retail employment accounts for an average of 10 to 15 per cent of the job market in any given country. Seeing that the retail industry is very vital to a nation’s economy, the Nigerian market holds significant opportunities for retailers (local and international) and the chance to solve the unemployment challenge in the country. It is proven in the direct and indirect jobs provided by all the malls anchored by Shoprite in Nigeria today. So, what is hindering the development of malls in Nigeria today?

Can you proffer solutions to these hindrances? The government needs to provide a specific fund/intervention at a particular interest rate through the CBN/Commercial bank to developers willing to invest in this sector on a long-term basis. The sector thrives in other countries and solves their unemployment problem due to funds available at a single digit interest rate for a longterm period because the development is seen as infrastructural development that will last years. Is investing in malls a sustainable venture, considering ination, possible recession and currency devaluation, all of which can affect patronage of the malls? Presently in Nigeria, investing in mall development is not sustainable to the indigenous developer due to cost of funding, infrastructural decay and stringent regulations/pronouncements amongst other factors. However, it can be a sustainable venture if there are government intervention funds with at most five per cent interest rate and at least a 10-year tenure are made available to indigenous mall developers; commercial banks grant loan facilities at single digit interest rate with at least a 10-year tenure to indigenous developers. The foreign developers in the industry enjoy single digit interest rate on foreign currency as they

obtain funds from offshore at an interest rate that is less than five per cent. This obviously gives them an undue advantage over the indigenous developer; business friendly regulations with waivers and prompt approvals, where necessary, are granted; provision/improvement of infrastructure especially electricity. Energy cost constitutes approximately 75 per cent of the cost of running the mall. An increase in the price of crude in the international market will bring about increase in the diesel cost locally, hence causing service charges to go further north. Running generator for 12 hours or more will also mean high generator maintenance cost and consequently replacement due to over use. All these obviously makes the mall unsustainable as tenants will complain of high cost and may be forced to vacate the mall. Improved electricity supply of at least 10 hours during trading period will reduce drastically the cost of running the mall. There is a partnership/joint venture between developer and land owner; and the most recently introduced Real Estate Investment Trust Scheme (REITS) is encouraged and allowed to work, that is, investors pooling funds to finance mall development. With the above, the rent payable will be friendly and affordable and indeed sustainable especially, the neighborhood mall concept with emphasis on affordability and sustainability. Retail holds the key to solving the menace of unemployment, especially youth unemployment. What are the beneďŹ ts for pension or longterm private investments in retail? Pension fund investment in the retail sector would be an “ideal asset classâ€? providing tangible advantages such as long duration- facilitating cash flow matching with long-term liabilities, protection against inflation and statistical diversification. The retail sector will show growth in all economic cycles, for instance, a consumer spending on durable items like cars or expensive electronics may decline in a recession. Food consumption, for example, does not as home food expenditures often grows in tough times.

Margin Budget of no Effect Victor Ariole When you are marginalised by those who appropriate to themselves greater stakes in politics or economics, your views are also seen as marginal; so, also, everything about Africa is seen; either as marginal or, at best, as emerging. Nigeria being the most populous country in Africa is still seen as marginal or an emerging economy; so its budget can only take the shape of a marginal budget in a world dominated by knowledge economy as majority of its people remain in the margins of knowledge acquisition. Seventy percent in the north uneducated, 11million out of school, hence a budget of margins, just for tiny portion of Nigeria, reacting as termites. What I read in the budget of supposedly great economies of the West is how to reduce budget deficit not necessarily what they earn or what they spend, though reducing budget deficit imply such issues as earnings and spending, focus is on waste eliminator not to create ants to destroy their wealth. It also implies that as long as people are productive and at work, deficit reduction could mean an austerity measure which has never worked, as stimulus has always prevailed. Basically, the US Congress’ refusal to approve $5billion border wall of the USA’s president is to reduce the huge budget deficit that the USA has been incurring over the years, ($23trillion debt), yet it is the economy rated as greatly performing with more people getting into the job market than any other country. It is also known that the Mayor of New York operates far greater capital budget than found in Nigeria’s current budget of mere N8trillion (about $20 billion) yet 23% of capable hands in Nigeria are not finding jobs to

enhance the overall “economic carrying capacityâ€? of Nigeria that shows greater marginalization upon which budgeting could only be seen as voodoo budgeting hinged on weak thinking or marginal thinking. What is there to budget for, when most Nigerians seem to be on their own except the politicians. Marginal activity is what the proposed earning and spending of the budget is based and it could only yield marginal result that exclude the majority; or operates in disdain of capable hands begging to be included so as to form the real norm yet to be used in the budgeting process. One of the basics you learn in MBA class that concerns accounting is that until average cost equates marginal cost, where marginal cost is seen as the contribution of each activity in the assumed average cost of all activities remaining proportional to the value of such activity to the entire activity, it is seen as not yet optimising. This is where subsidy tends to be seen as eroding optimisation process. In effect, Nigeria’s budgeting process that always see the legislators raising the oil benchmark is completely a weak thinking process and quite a voodoo economic activity as, generally, the oil price is not determined by Nigeria but by those who are directly or secretly in charge of both the oil pricing mechanism and its supply chain, the leading powers. And, even, the Central Bank of Nigeria that must ensure that it does not release into Nigeria’s economy more than Nigeria is contributing to the world, albeit, marginally, vis-Ă -vis what such greater stakeholder see as partaking in the average costing of maintaining the global economy, costed and regulated by seen and unseen hands of organizations like UNO, IMF

World Bank, NATO, etc. These are strategic organisations incurring costs towards regulating world’s economy, and they are very strict in making sure that a given nation does not earn more that it deserves; sanctions could be imposed or whatever they deem necessary to frustrate such nation’s economic prospects. Nigeria has been clamouring to be among the 20 most developed economy in the world for decades; and a small country like Taiwan had been there for decades; and Taiwan basically operates its budget on earning as function of added value from whatever it is importing from others to reach final products, which is better in attaining optimisation. Nigeria needs to think along that line in its budgeting process as against the legislators’ arbitrarily raising oil price. Like Taiwan like South Korea, smaller in size but greater in GDP than Nigeria. The minimalist way of evaluating our legislators must be to see the laws that they are making that give Nigerians and investors operating environment that encourages adding values to what the Nigerian knowledge base, its people and its resources’ comparative advantage prospects add in terms of National wealth. For example, it was known that South Korea enacted a law and greatly marketed that law which enabled any investor in the 70s to come with a given amount of dollar and open industry with some tax free benefits as long as such industry engaged in exportable goods. Their aim was for foreign reserve booster and it worked. Some Nigerians were known to have participated in the making of that prosperity. It was even a time when people, there, were eager to acquire

Nigerian university degrees, paying for it in dollars in South Korea as Nigeria takes back manufactured products like air-conditioners, fridge and computers. Today South Korea is one of the 20 most industrialized nations from their former poor state. In effect till Nigeria starts getting out of the margins with its paltry earnings that is far below its optimization capacity, it will be baseless discussing marginal budgetary presentation that makes more mockery of the system as legislators go into executive function of allocating more funds to themselves instead of questioning spending that do not reflect right earnings. I have never heard any where that legislators make more appropriation to themselves as against either adopting or querying the spending patterns of the executive. The current budget of about N8trillion does not reflect the production capacity of Nigeria, upon which taxation could be extracted from the entire Nigeria’s people and resources; hence quite a marginal budget. And, as majority of Nigerians remain marginalized in the production system so also will the progress of the entire country remain marginalized in the greater economy of the world. Time to open the space and allow youthful Nigerians and women participate effectively in a small scale operations for more wealth creation, and it is seen in the great input of the Diaspora as reflected in their remittance and GNP, which has not been matched by internal policy of citizen diplomacy, as no succor for some of them thriving abroad. t "SJPMF JT B 1SPGFTTPS PG 'SFODI BOE 'SBODPQIPOF 4UVEJFT 6OJWFSTJUZ PG -BHPT

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EDUCATION Monitoring Research Report will Enhance Learning, Says Igun In this interview with Funmi Ogundare, the former Vice-Chancellor of Delta State University, Abraka, Professor Uvie Igun explained why vice-chancellors and the various committees in charge of monitoring research reports should be on their feet for better output that would enhance learning. He called on government to create more centres of excellence which if well equipped, will enable staff and students to do proper research

Y

ou have held and still holding key positions in the academia at different times, how would you describe your experience and challenges you have faced so far? There are so many things that have gone wrong in the tertiary institutions and many people who are charged in ensuring quality are those sabotaging the efforts of those who mean well for the sector. My experience is that wherever I went to, I try to ensure that I keep to standard by ensuring quality assurance from staff and students. While I was the vice chancellor of Delta State University (DELSU), I was kidnapped by students cultists who were aided and abetted by people who were corrupt in all ramifications. I was taken to a bush in Ekpoma and blindfolded to be shot, they beat me up and dragged me just because I stood firm against corrupt practices at the institution at that time. I told them that things cannot continue the way they were. They even set fire on my house. That was my battle as VC and anywhere I go, but I made sure that standards were maintained. There are too many people that want to compromise the system and even sabotage what you are trying to do. I was also able to fight examination malpractice to a standstill and even terminated the appointment of people who were selling marks. I and my team fought the battle to a point that we ensured development in the university. Unfortunately after I left, it was back to square one. The minister of state for education once said that the Nigerian university system has failed in producing quality graduates that should be employed in industries, what is your view on this and what should be the way forward? We are not producing the correct graduate programme and even the curriculum is not being taught properly regarding what students ought to know. We need to upgrade the whole curriculum to meet the needs of the country in terms of development that we are preparing students for. It is not just about giving people certificates when they don’t know anything; they have no skills. It is about how we are going to develop this nation. It is the duty of those who are responsible to ensure that our education system is not compromised. That is why I like what is happening at Edwin Clark University, Afe Babalola University and Covenant University, where there is zero tolerance for nonsense. How many universities can stand firm like that? Not many and that is why these universities are doing well because they are able to keep to certain standards. Unfortunately some of these private universities also get involved in sale of marks for students and you will see a situation where lecturers will also write projects for them. Many of them don’t go for lectures and at the end of the day; they come out with first class without knowing anything. Their parents paid so that they could be trained but are they training them? Nobody is looking at that. I need to also advise members of the Academic Staff

want to do research can go there, collect data, analyse it and come up with a good report. We made that suggestion a long time ago. How many universities can do proper research in this country? For those who are studying laboratory technology for instance, need to do more of practice. Those who graduate, what do they know? It is because the facilities are simply not there. In other to encourage them, government should create more centres of excellence where all the facilities are provided for by them. They should be well equipped so that the staff and students can do proper research. Application of data is very important; to me that is the only solution.

Igun Union of Universities (ASUU) to put their house in order, discipline should start from them so that they can also discipline the students and criticise politicians, but they are busy criticising politicians and are doing even worse things. They are given assignments to train students, but they are not doing that, rather they are selling marks. Some students who are hardworking usually feel discouraged about this. These are areas I keep fighting against.

We need to upgrade the whole curriculum to meet the needs of the country in terms of development that we are preparing students for. It is not just about giving people certiďŹ cates when they don’t know anything; they have no skills. It is about how we are going to develop this nation. It is the duty of those who are responsible to ensure that our education system is not compromised

There seems to be poor research efforts and output among academics, what is the problem and how do you think this can be resolved? I can tell you that there are serious academics who are doing serious research and there are also quite a number who are not producing quality research. For those who are doing quality research, you can see that they are producing quality material judging by the international environment. There are also too many that take the short cut. I have seen a professor who was given money by the Ford Foundation to carry out research, rather than go to the field, he came back with cooked up data. Those of us who are involved in research in this country see a lot of things.What can such a professor teach? There is need for vice-chancellors, sub-committees and the various committees that are in charge to be on their feet and ensure that they monitor the reports of research. I have been involved in every level of research in this country so I know what it takes. In what ways can Nigerian students be encouraged to undergo PhD programmes locally, rather than being attracted to go abroad or waste internally? The truth is that the facilities are deficient particularly in the areas of sciences. We don’t have enough facilities. You can’t know research until you take part in it, but where are the facilities? At a point, we told the federal government that since the facilities are so limited, they should create centres of excellence with well-equipped laboratories such that would make all universities and researchers to do research rather than go abroad. They should create more centres and equip them with enough facilities for serious research. Those people that

As a Professor of Medical Sociology, what is your view about the issue of medical brain drain in the country considering the fact that the minister of labour once said the country has enough doctors? The ratio of doctor to patient in the country is very poor. The facilities that are there are very bad. If you have gone to any public hospital in the country, you will not like what is going on there. There is need for public universities to take over to become the salvation of tertiary education by putting in place quality. There are a number of universities in the country that are standing firm and putting in the best. In the public sector, there is so much corruption, the same thing with medicine. Is it not possible for Nigeria to have a national hospital where if all the facilities are put in place, rather than travel abroad, people can visit such a place for treatment? We have people who can do the work, but the money which they are supposed to use to put these facilities in place have gone into private pockets. So how do we want to have quality? If I have my way, I will prefer that people get treated here rather than travel abroad for it. What is there in India that Nigerian doctors who are well trained cannot do with the right equipment? If you give Nigerians the right atmosphere and training, they will do well in the country, but unfortunately, we are playing politics to compromise standard. If you go to University of Benin Teaching Hospital for instance, you will regret going there. What in your view is the future of public universities in Nigeria? Not more than 30 per cent of public universities in the country are doing what they ought to do. If we are talking about the future of public universities in this country, unless there is a drastic revolution that will focus on both the leadership, staff and the students to clean up the mess in the sector, we should not be producing half-baked graduates. Even the private sector is supposed to come to the rescue. Afe Babalola University for instance is doing its best. I stand to say that the VCs, lecturers and students are all collaborating in the destruction of our education in Nigeria which is very sad for our future. Few institutions are doing their best and ensuring standards. There are also a few ones who sell marks, but if we are able to clean up the mess in the system, the better for us.

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Halt New KWASU VC’s Selection Process, OPF Tells Kwara Governor-elect Yinka Kolawole in Osogbo Offa-born academics under the auspices of Offa Professors Forum (OPF) comprising more than 100 professors from Offa, Kwara State, have described the ongoing selection process of a substantive vice-chancellor for Kwara State University as jaundiced and inequitable. The group in a statement said the ongoing process is fraught with irregularities from the beginning and urged the incoming government to put a halt to it immediately. The statement, which was signed by the Chairman of OPF, Prof. Hussein Oloyede, urged the incoming government to appoint the most senior deputy vice-chancellor as acting VC and then constitute a new equitable council. The university, in accordance with its act has set in motion processes that will usher in a successor to the incumbent VC, Professor Abdulrasheed Na’allah, whose tenure expires in July, 2019. At the close of applications last week, the university council had set up, beside the statutory Senate-Council Selection Board and the search team, an internal screening committee to specially scrutinise applicants from within the institution. But OPF faulted the selection process, describing it as “skewed and constructed in line with the recent Ilorin Emirate Descendants Progressive Union’s (IEDPU) clannish public declaration that it holds

the forever-right to KWASU headship because it is sited on the emirate’s soil.� OPF said: “With such mindset that is totally antithetical to the universality of a university and the expected academic excellence, the ideals of fair play and equity have been jettisoned for parochial sentiment.� The group observed that given the kind of the university principal officers, where the chancellor, pro-chancellor, vice-chancellor and the acting registrar are all from Ilorin, it is certain that candidates from the emirate are not only favoured, outsiders will automatically be side-lined. “The vice-chancellor is replaying an old script of 2009 when the selection committee was dominated by three Ilorin indigenes (Prof. Abdulraheem Oba, late Prof. Shehu Jimoh, Alhaji Bolaji Abdullahi) out of four. The current selection committee with Prof. Saka Nuhu (Chairman, Ilorin), Prof. Hassan Saliu (member Council, Ilorin), Prof. Abdulrasheed Na Allah (VC, Ilorin), Alhaji Oba Aluko (member, Ilorin), Prof. Kabir Solihu (senate rep., Ilorin) is the height of insensitivity to diversity of Kwara State. “The inclusion of Prof. Temidayo Oladiji as senate representative while on sabbatical leave is unknown to global best practice, while having competent professors in-house, but who are perceived unnameable to parochial and primitive agenda of the Vice-Chancellor Prof. Na Allah and IEDPU.�

LRCN Builds Librarians’ Capacity on Electronic Resource Sharing Kuni Tyessi in Abuja The Librarians’ Registration Council of Nigeria (LRCN) is building the capacity of librarians in electronic resource sharing and networking among their counterparts in an effort aimed at digitizing library operations. The Registrar of LRCN, Professor Michael Afolabi, who made this known recently at the national workshop on Electronic Resource Sharing and Networking in Libraries, organised by the council at Imo State University, Owerri, said the 21st century has witnessed a shift from the traditional physical inter-library loan to digital resource sharing and networking. In a statement signed by the Deputy Director of Public Relations, LRCN, Ngozi Oboh, the registrar explained that although libraries may be in different jurisdictions, but agree to serve one another on the same basis as each serves its own constituent, electronic resource sharing which involves a mutual agreement between libraries to exchange resources could improve access to information from other libraries across the world. “Since modern day librarianship involves the infusion of ICTs for collection, organisation, preservation and

dissemination of information, organisations must as a matter of priority, provide adequate power supply in all libraries as the ICT facilities require power to function efficiently.� Afolabi encouraged state governments to support public libraries across the country by providing ICT facilities and seamless access to the internet, to enable them link up with library consortiums and share e-resources. While expressing worry that some public libraries have resources that are not being utilised optimally because of near-absence of ICT infrastructure and internet services, he urged the libraries to develop their library- specific websites to increase their visibility and participate effectively in the information super highway. “The benefits of sharing resources and networking among libraries include improved library stock and improved contact among libraries; collection and mobility of data or information is guaranteed since libraries do not meet physically before they exchange materials. Transport barriers are removed because acquisition is done online. Electronic resource sharing helps in addressing duplication in research and development so libraries are properly positioned to select and acquire only relevant materials,� he added.

OPF regretted that a university that is supposed to be global in outlook has become clannish in disposition to the extent that it has taken such blight to the public. “Beyond the fact that KWASU is founded and being funded by all the local government areas in the state, academic excellence is hinged on competence and merit.

“The current subversion of an otherwise universally known process started with the expiration of the tenure of the Pro-Chancellor, Senator Shaaba, who was then replaced by Alhaji Saidu both from Kwara North, while Mr. Kola Abioye acted briefly with the demise of Saidu. “Instead of the confirmation of Abioye as the substantive

Pro-Chancellor, Prof. Saka Nuhu, an Ilorin indigene was appointed to complete a selection committee completely dominated by Ilorin Emirate�, the group noted. It insisted that the appointment of a vice-chancellor ought to go beyond ethnic or religious colouration such that has been deployed. “We are not unmindful of all

the efforts to subvert the process in favour of an Ilorin indigene after being in the saddle for 10 good years, but we were hoping that being an Islamic community, fair play, equity and even Islamic injunction would guide their conduct. Qu’aran says you are not a good Muslim until you want for your neighbour what you desire for yourself.�

Winners of Bola/Atinuke Ige Annual Scholarship: L-R: Master Abayomi Pius of Command Day School; Miss Salawu Victoria, Queen’s School, Mr. Gbenro Adegbola; Master Esan Israel of St. Michael African School; and Miss Excel Silva of Methodist School III at the sixth Chief Bola Ige and seventh Justice Atinuke Ige Annual Scholarship Competition for Indigent Public School Students in Oyo State, held at the Vale College, Iyaganku, Ibadan‌ recently PHOTO: FELIX ADEMOLA

Greensprings Teacher Wins Inspirational Educator Award A Chemistry teacher at Greensprings School Lekki, Mr. Lanre Oguntoye, has emerged one of this year’s winners of the annual Inspirational Educator Awards (INSEA). He won the award for Inspirational Teacher of the Year category at an event held in Lagos recently. Guests at the event were thought leaders in the Nigerian private education sector and apart from winning an award, Oguntoye got a cheque of N850,000. His journey to receiving the award started

in February when he was nominated; after the screening of all nominated candidates and portfolio presentation of the successful candidates, he was declared by the judges to be the winner of the 2019 Inspirational Teacher of the Year Award. Expressing his gratitude for winning the award, Oguntoye said he is happy that teachers are now getting recognised and appreciated for the good job they do. “For me, I see the award as a reward that will

bring out more work. The reward of hard work is more work and I am determined to keep doing my best and keep helping my students to be more successful in their academics.� The Executive Director of Greensprings School, Mrs. Lai Koiki, who was also in attendance at the award ceremony said: “I am not surprised that Lanre Oguntoye won this award. Like every other teacher in our school, he has always served as an inspiration to our students and helped them to achieve top

academic performance. He truly deserves the award.� The Inspirational Educator Awards is organised by Meadow Hall Foundation (MHF), the non-profit arm of Meadow Hall Group. The award is in two categories-The Inspirational School Leader of the Year category and the Inspirational Teacher of the Year category. To be a winner in the latter category, nominees must be truly innovative in teaching their students and they must be role models to their colleagues.

BudgIT Seeks Speedy Passage of UBEC Amendment Bill BudgIT has appealed to the Universal Basic Education Commission (UBEC) to engage the National Assembly on the passage of the UBEC Amendment Bill 2018, saying that states’ failure to fulfil their counterpart funds obligation will worsen the education crisis in the country. The Communications Associate of BudgIT, Mr. Shakir Akorede in a statement, stressed the need for the commission

to achieve the objective of the amendment bill which is to amend the UBEC Act 2004, thus increasing the block grant contribution of the federal government while reducing states’ counterpart funding from 50 per cent to 25 per cent in the interest of the dwindling education standard and millions of out-of-school children. The statement reads in parts: “The viral news of a schoolgirl in Warri, Delta State, who was

sent home due to non-payment of school fees echoes the tragic state of education in Nigeria, to which lack of funding plays a huge part. There are 13.2 million children that are currently locked out of school, according to the latest data from UBEC. “Yet, N101 million, as of December 2018, that could in some ways contribute to the reduction of this number remain un-accessed. This is a damning indictment of the state

governments and national will towards education in Nigeria.� He said if passed into law, the bill will go a long way in solving the country’s education decline majorly by aligning funding with UNESCO standard - allotment of 15 per cent to 20 per cent of the national budget to education. “The development of the education sector is tied to adequate funding and proper monitoring of the use of funds.�

Achievers Varsity Marks 11th Anniversary Hamid Ayodeji Achievers University, Owo recently marked its 11th anniversary with the launch of its N100,000 chapel building in Ondo State. The Pro-Chancellor, Dr. Bode Ayorinde said since its establishment, the government has never assisted the institution, but it has been able to develop into a world-class institution. “Eleven years have gone by

and this is a testimony that God knew what he was doing when he moved us to a permanent site where we were able to build and develop into the great university we are today. “There will be a foundation lecture which will be held annually on April 2, which is the birthday of Achievers University.� In his remarks, the ViceChancellor, Obafemi Awolowo University, (OAU) Professor

Eyitope Ogunbodede highlighted the myriad of challenges and impediments to accessible university education, including lack of proper and adequate planning, adding that it is further aggravated by the paucity of useful data necessary for planning. “In addition, poor funding and inappropriate allocation of funds is also a very present factor. It is now an accomplished fact that the government alone cannot fund tertiary education.

In order to boost revenue, a university must source for a wide range of local and international resources to support its quest for innovation and excellence. “The major sources of funding for our universities are currently from four main streams, the federal government for operational expenditure, capital projects and research, partnership with the public and private organisations, locally and internationally for the funding of research.�

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Children’s Day: Indomie Fetes 100,000 Pupils Uchechukwu Nnaike As the country marked this year’s Children’s Day on May 27, Dufil Prima Foods Plc, makers of Indomie Instant Noodles, organised a fun-filled children’s party for over 100,000 pupils across the country to ensure that their childhood is filled with fun memories. At the venue of one of this year ’s week-long programmes, held at the Apapa Amusement Park, the company hosted over 10,000 children from various schools in Lagos to fanfare and celebration. The event was aimed at nurturing children by showing them love and giving them the attention they deserve, especially as they mark Children’s Day. Indomie treated the children and their guardians to various fun activities such as bumper car, carousel, the rockets, the pirates’ ship, the spinner, the tea cup, disco ride, and the air bicycle, in a bid

to strengthen their out of home social interactions. In her remarks, the wife of the Lagos State Governor, Mrs. Bolanle Ambode, who was represented by Mrs. Oyindamola Ogunsanwo, commended the company for always making the Children’s Day celebration a memorable one for children, especially by making it a week-long programme so that children from far and near can attend. “Your organisation has been such an exemplary corporate citizen, playing a great role in lifting the society and reducing unemployment among our youth. Thank you for your patriotic spirit,� she said. According to Mrs. Ambode, Children’s Day is a day set aside for children to merry and enjoy and also for adults to appreciate the value and joy children bring to the world. Also speaking, the company’s Group Public Relations and Events Man-

ager, Mr. Tope Ashiwaju explained that the celebration, which was replicated across various parts of the country, was decentralised to make it accessible to more children nationwide. He stated that the Indomie Children’s Day celebration is an annual activity which the company has consistently celebrated for over a decade as one of its avenues to celebrate with the Nigerian child especially in the face of challenges faced by families in the country. “One of the reasons for this fun-filled event is because some of these children may not have had the privilege to come to such fun places to celebrate Children’s Day, as some of their parents may not have the time or resources to do it. So the brand is filling the gap and providing a great experience for the children to have fun with their favourite brand. “We acknowledge Nigerian children as an integral

part of our brand’s success story, as they remain our core brand loyalists and major drivers. Dufil Prima Foods is positively geared towards ensuring the continued upliftment of the Nigerian child through activities such as this Children’s Day party, the Indomie Independence Day Award (IIDA), Indomie Fans Club (IFC), schools inter-house sports, schools prize-giving day, school feeding programme, school and hospital donations, LEARN initiative and several other ongoing activities,� Ashiwaju said. The National Coordinator, Indomie Fan Club, Mrs. Faith Joshua thanked the representative of the governor ’s wife for her presence and the children for making the day grand. She said Indomie has celebrated children in numerous ways for many years and has made it a tradition to continue to put smiles on the faces of children for many years to come.

KEHINDE OMORU www.kayomoru.com

ZEBRA STRIPES ROCK Quit your image-laundering mandate that’s dowsing your creativity Ă‹Ă˜ĂŽ Ă™ĂœĂ“Ă‘Ă“Ă˜Ă‹Ă–Ă“ĂžĂŁË› Ă“ĂŽ ĂŁĂ™Ă&#x; Ă•Ă˜Ă™ĂĄ ÞÒËÞ Ă˜Ă™ ÞåÙ äĂ?ĂŒĂœĂ‹ ÚËÞÞĂ?ĂœĂ˜Ă? Ă‹ĂœĂ? exactly the same? Ă Ă?ĂœĂŁĂžĂ’Ă“Ă˜Ă‘Ëœ ĂŒĂ? Ă“Ăž Ă‹Ă˜ Ă™ĂŒĂ”Ă?Ă?Ăž Ă™Ăœ Ă‹ ÚÒĂ?Ă˜Ă™Ă—Ă?Ă˜Ă™Ă˜Ëœ Ă“Ă? Ă?âĂ?Ă–Ă&#x;Ă?Ă“Ă Ă? Ă“Ă˜ Ă“ĂžĂ? Ă™ĂĄĂ˜ Ă“ĂŽĂ“Ă™Ă?ĂŁĂ˜Ă?ĂœĂ‹ĂžĂ“Ă? ĂĄĂ‹ĂŁË› Ă Ă?ĂœĂŁĂžĂ’Ă“Ă˜Ă‘ Ă“Ă? Ă&#x;Ă˜Ă“Ă›Ă&#x;Ă? ĂŒĂ™ĂžĂ’ Ă?Ă“Ă˜Ă‘Ă&#x;Ă–Ă‹ĂœĂ–ĂŁ Ă‹Ă˜ĂŽ Ă?ÙÖÖĂ?Ă?ÞÓà Ă?Ă–ĂŁËœ Ă‹Ă˜ĂŽ Ă?Ă™ Ă‹ĂœĂ? ĂŁĂ™Ă&#x;Ë› Ă™Ă&#x; Ă‹ĂœĂ? Ă˜Ă™Ăž Ă‹ Ă?ÙÚã˛ Ă‹Ă˜ Ă“Ă? Ă&#x;Ă˜Ă“Ă›Ă&#x;Ă?Ë› Ă™Ă&#x; Ě™ Ă—Ă?Ă‹Ă˜ ĂŁĂ™Ă&#x; ĂœĂ?Ă‹ĂŽĂ“Ă˜Ă‘ Ă—Ă? ĂœĂ“Ă‘Ă’Ăž Ă˜Ă™ĂĄĚš Ă‹ĂœĂ? ĂŽĂ“Ă?Ă?Ă?ĂœĂ?Ă˜Ăž Ă?ĂœĂ™Ă— Ă‹Ă˜Ă™ĂžĂ’Ă?ĂœË› Ă™ĂŒĂ™ĂŽĂŁ Ă?Ă‹Ă˜ ĂŽĂ™ ĂŁĂ™Ă&#x; Ă–Ă“Ă•Ă? ĂŁĂ™Ă&#x; ĂŽĂ™ ĂŁĂ™Ă&#x;Ë Ă™Ă&#x; Ă—Ă“Ă‘Ă’Ăž ĂĄĂ‹Ă˜Ăž ÞÙ Ă‹ĂœĂ‘Ă&#x;Ă? ÞÒËÞ Ùà Ă?Ăœ ÞÒĂ? ĂŁĂ?Ă‹ĂœĂ?Ëœ Ă‹ Ă˜Ă&#x;Ă—ĂŒĂ?Ăœ Ă™Ă? ĂžĂœĂ‹Ă“ĂžĂ? ÞÒËÞ ĂĄĂ?ĂœĂ? Ă?ĂœĂ?ÞåÒÓÖĂ? ĂŒĂ?Ă–Ă“Ă?Ă Ă?ĂŽ ÞÙ ĂŒĂ? Ă&#x;Ă˜Ă“Ă›Ă&#x;Ă?Ă–ĂŁ Ă?Ă?Ă?Ă˜ Ă™Ă˜Ă–ĂŁ Ă“Ă˜ Ă’Ă&#x;Ă—Ă‹Ă˜ ĂŒĂ?Ă“Ă˜Ă‘Ă? Ă’Ă‹Ă Ă? ĂŒĂ?Ă?Ă˜ Ă?Ă?Ă?Ă˜ Ă?Ă˘Ă’Ă“ĂŒĂ“ĂžĂ?ĂŽ ĂŒĂŁ Ă‹Ă˜Ă“Ă—Ă‹Ă–Ă?Ë› Ă?Ă Ă?ĂœĂžĂ’Ă?Ă–Ă?Ă?Ă?Ëœ Ă˜Ă&#x;Ă—Ă?ĂœĂ™Ă&#x;Ă? ĂžĂœĂ‹Ă“ĂžĂ? ĂœĂ?Ă—Ă‹Ă“Ă˜ Ă?âĂ?Ă–Ă&#x;Ă?Ă“Ă Ă?Ă–ĂŁ Ă’Ă&#x;Ă—Ă‹Ă˜Ë› Ă™Ă&#x; Ă‹ĂœĂ? Ă?âĂ?Ă–Ă&#x;Ă?Ă“Ă Ă? Ă“Ă˜ ĂŁĂ™Ă&#x;Ăœ Ă™ĂĄĂ˜ ĂœĂ“Ă‘Ă’ĂžĂ?Ë› Ă™Ă&#x; Ă‹ĂœĂ? ĂŽĂ“Ă?Ă?Ă?ĂœĂ?Ă˜Ăž Ă?ĂœĂ™Ă— ĂŁĂ™Ă&#x;Ăœ ĂžĂĄĂ“Ă˜Ëž ĂŁĂ™Ă&#x; Ă‹Ă˜ĂŽ ĂŁĂ™Ă&#x;Ăœ ĂŽĂ‹ĂŽĂŽĂŁ Ă‹ĂœĂ? Ă˜Ă™Ăž ÞÒĂ? Ă?Ă‹Ă—Ă?Ë› Ă™Ëœ Ă›Ă&#x;Ă“Ăž ÞÒĂ? Ă“Ă—Ă‹Ă‘Ă?Ě‹ Ă–Ă‹Ă&#x;Ă˜ĂŽĂ?ĂœĂ“Ă˜Ă‘ Ă‘Ă‹Ă—Ă? ÞÒËÞ˪Ă? ÎÙåĂ?Ă“Ă˜Ă‘ ĂŁĂ™Ă&#x;Ăœ Ă&#x;Ă˜Ă“Ă›Ă&#x;Ă?Ă˜Ă?Ă?Ă?Ë›

Ă?Ă‹Ăž ĂŽĂ™ĂĄĂ˜ ÞÙ ÞËÕĂ? Ă?ÞÙĂ?Ă• Ă™Ă? Ă™Ă&#x;Ăœ Ă—Ă‹Ă”Ă™Ăœ Ă?Ă‹ĂšĂ‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă? Ă‹Ă˜ĂŽ Ă’Ă?ĂœĂ?ĂŒĂŁ Ă?Ă’Ă‹ĂœĂ? åÓÞÒ ĂŁĂ™Ă&#x; ÞÒĂ?Ă?Ă? ĂšĂ?Ă?Ă&#x;Ă–Ă“Ă‹Ăœ Ă’Ă&#x;Ă—Ă‹Ă˜ ĂžĂœĂ‹Ă“ĂžĂ? ĂŁĂ™Ă&#x; Ă‹Ă˜ĂŽ ÚÙĂ?Ă?Ă?Ă?Ă? Ě‹ ÞÙ Ă?Ă˜Ă?Ă™Ă&#x;ĂœĂ‹Ă‘Ă? ĂŁĂ™Ă&#x; ÞÙ Ă?Ă?Ă? Ă?Ă™Ăœ ĂŁĂ™Ă&#x;ĂœĂ?Ă?Ă–Ă? ĂĄĂ’Ă™ ĂŁĂ™Ă&#x; Ă‹Ă–ĂœĂ?Ă‹ĂŽĂŁ Ă‹ĂœĂ?Ëœ ĂŒĂ&#x;Ăž Ă—Ă&#x;Ă?Ăž ĂĄĂ‹Ă–Ă• Ă“Ă˜ ÞÒĂ? Ă–Ă“Ă‘Ă’Ăž Ă™Ă?Ë› Ëž Ă™Ă&#x; Ă’Ă‹Ă Ă? Ă?Ù×ÚÖĂ?â ĂœĂ?Ă‹Ă?Ă™Ă˜Ă“Ă˜Ă‘ Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă?Ë› Ă™Ă&#x; Ă?Ă‹Ă˜ Ă?Ă?Ă?Ă• Ă•Ă˜Ă™ĂĄĂ–Ă?ĂŽĂ‘Ă? Ă“Ă˜ĂžĂ™ ĂŁĂ™Ă&#x;Ăœ ĂĄĂ™ĂœĂ–ĂŽ Ă‹Ă˜ĂŽ Ă?Ă‹Ă˜ Ă?Ă?Ă–Ă?Ě‹Ă?Ă˘ĂšĂ–Ă™ĂœĂ?Ë› Ă™Ă&#x; Ă?Ă‹Ă˜ ĂœĂ?Ă?Ă™ĂœĂŽ ĂŁĂ™Ă&#x;Ăœ ÞÒÙĂ&#x;Ă‘Ă’ĂžĂ? Ă‹Ă˜ĂŽ ĂœĂ?ĂžĂœĂ“Ă?Ă Ă? ÞÒĂ?Ă— ̙à ÓË ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ Ă™Ăœ Ă Ă‹ĂœĂ“Ă™Ă&#x;Ă? Ă?Ă™ĂœĂ—Ă? Ă™Ă? Ă‹ĂœĂžĚšË› Ëž Ă™Ă&#x; Ě™Ă—Ă‹Ă˜Ěš Ă’Ă‹Ă Ă? Ă?Ă™Ă˜ĂžĂ“Ă˜Ă&#x;Ă?ĂŽ ÞÙ Ă“Ă—ĂšĂœĂ™Ă Ă? ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘Ă“Ă?Ă‹Ă–Ă–ĂŁË› Ă’Ă“Ă? Ă’Ă‹Ă? Ă’Ă‹ĂŽ Ă‹ ÚÙĂ?ÓÞÓà Ă? Ă•Ă˜Ă™Ă?Ă•Ě‹Ă™Ă˜ Ă?Ă?Ă?Ă?Ă?Ăž Ă™Ă˜ ĂŁĂ™Ă&#x;Ăœ Ă?Ă™Ă?Ă“Ă‹Ă– Ă?Ă•Ă“Ă–Ă–Ă? Ă‹Ă˜ĂŽ cultural awareness. Ëž Ă™Ă&#x; ÚÙĂ?Ă?Ă?Ă?Ă? Ă–Ă‹Ă˜Ă‘Ă&#x;Ă‹Ă‘Ă? Ě™Ă?ĂšĂ?Ă?Ă?Ă’ Ă™Ăœ Ă?ĂŁĂ—ĂŒĂ™Ă–Ă?Ěš Ă‹Ă˜ĂŽ Ă–Ă‹Ă˜Ă‘Ă&#x;Ă‹Ă‘Ă?Ě‹ Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă?Ë› Ă™Ă&#x;Ăœ Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ ÞÙ ĂšĂœĂ™Ă?Ă?Ă?Ă? Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜ Ă“Ă? Ă•Ă?ĂŁ to your survival till this day. Ëž Ă™Ă&#x; Ă’Ă‹Ă Ă? ÞÒĂ? Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă? ÞÙ Ă?Ă™Ă–Ă–Ă‹ĂŒĂ™ĂœĂ‹ĂžĂ“Ă Ă?Ă–ĂŁ ĂĄĂ™ĂœĂ• ÞÙÑĂ?ÞÒĂ?Ăœ åÓÞÒ ÙÞÒĂ?Ăœ ĂšĂ?ÙÚÖĂ? Ă‹Ă˜ĂŽ Ă?Ă’Ă‹ĂœĂ?Ë› Ă™Ă&#x; Ă˜Ă?Ă?ĂŽ ÞÙ ĂŽĂ?Ă Ă?ÖÙÚ ÞÒĂ?Ă?Ă? Ă“Ă˜Ă˜Ă‹ĂžĂ? ĂšĂ‹ĂœĂžĂ˜Ă?ĂœĂ?Ă’Ă“Ăš Ă?Ă•Ă“Ă–Ă–Ă? ĂŁĂ™Ă&#x; Ă‹Ă–ĂœĂ?Ă‹ĂŽĂŁ Ă’Ă‹Ă Ă? Ă“Ă˜ Ă™ĂœĂŽĂ?Ăœ ÞÙ ×ËâÓ×ÓäĂ? ĂŁĂ™Ă&#x;Ăœ ÚÙÞĂ?Ă˜ĂžĂ“Ă‹Ă–Ë› Ëž Ă™Ă&#x; Ă’Ă‹Ă Ă? Ă“Ă˜Ă˜Ă‹ĂžĂ? Ă’Ă?Ă–ĂšĂ“Ă˜Ă‘ Ă?Ă•Ă“Ă–Ă–Ă? Ă‹Ă˜ĂŽ ÞÒĂ?ĂœĂ?Ă?Ă™ĂœĂ? ÚÙĂ?Ă?Ă?Ă?Ă? ÞÒĂ? Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ ÞÙ ĂŒĂ? Ă–Ă?Ă?Ă? Ă?Ă?Ă–Ă?Ă?ÞÓà Ă? Ă‹ĂŒĂ™Ă&#x;Ăž ĂĄĂ’Ă™ ĂŁĂ™Ă&#x; Ă’Ă?Ă–Ăš Ă™Ăœ Ă?Ă’Ă‹ĂœĂ? åÓÞÒ˛ Ă’Ă? Ă?ÞÒÓĂ?ËÖÓÞã Ă™Ă? ĂžĂ’Ă“Ă˜Ă‘Ă? Ă‹ĂœĂ? Ă“Ă˜Ă˜Ă‹ĂžĂ? Ă Ă‹Ă–Ă&#x;Ă?Ă? ĂŁĂ™Ă&#x; Ă’Ă‹Ă Ă?Ë› Ă’Ă?ÞÒĂ?Ăœ Ă™Ăœ Ă˜Ă™Ăž ĂŁĂ™Ă&#x; ĂŽĂ?Ă Ă?ÖÙÚ ÞÒÓĂ? Ă“Ă? Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ ×ËÞÞĂ?Ăœ ËÖÞÙÑĂ?ÞÒĂ?ĂœË› Ëž Ă™Ă&#x; Ă’Ă‹Ă Ă? ÞÒĂ? Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ ÞÙ ĂŒĂ? Ă?ÙÙÚĂ?ĂœĂ‹ĂžĂ“Ă Ă? Ă‹Ă˜ĂŽ ÞÙ Ă?Ă‹ĂœĂ? Ă‹ĂŒĂ™Ă&#x;Ăž ĂĄĂ’Ă‹Ăž ĂŁĂ™Ă&#x;Ăœ ĂšĂ‹ĂœĂžĂ˜Ă?Ăœ Ă™Ăœ ÙÞÒĂ?ĂœĂ? Ă‘Ă?Þ˛ Ëž Ă™Ă&#x; Ă’Ă‹Ă Ă? ÞÒĂ? Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ ÞÙ ĂŒĂ? ĂšĂœĂ™Ă‹Ă?ÞÓà Ă? Ă‹Ă˜ĂŽ ÞÙ ËŠĂ‹Ă?Þ˪ ĂŒĂ‹Ă?Ă?ĂŽ Ă™Ă˜ Ă Ă?ĂœĂŁ Ă™ĂŒĂ?Ă?Ă&#x;ĂœĂ? Ă™Ăœ Ă?Ă&#x;ĂŒĂžĂ–Ă? Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜Ë› Ă™Ă&#x; Ă—Ă‹ĂŁ ĂĄĂ‹Ă˜Ăž ÞÙ Ă?Ă‹Ă–Ă– ÞÒÓĂ? ËŠĂ‘Ă&#x;ĂŁĚ‹ Ă?Ă?Ă?Ă–Ă“Ă˜Ă‘Ă?ËŞË› Ëž Ă™Ă&#x; Ă’Ă‹Ă Ă? Ă“Ă˜ĂžĂœĂ“Ă˜Ă?Ă“Ă? Ă—Ă“Ă˜ĂŽĚ‹ĂœĂ?Ă‹ĂŽĂ“Ă˜Ă‘ Ă?Ă•Ă“Ă–Ă–Ă?Ë› Ă’Ă“Ă? Ă?Ă•Ă“Ă–Ă– Ă?Ă™Ă˜ĂžĂ“Ă˜Ă&#x;Ă?Ă? ÞÙ Ă“Ă˜Ă?ĂœĂ?Ă‹Ă?Ă? Ă‹Ă? ĂŁĂ™Ă&#x;Ăœ Ă•Ă˜Ă™ĂĄĂ–Ă?ĂŽĂ‘Ă? Ă™Ă? ÞÒĂ? ĂĄĂ™ĂœĂ–ĂŽ Ă“Ă˜Ă?ĂœĂ?Ă‹Ă?Ă?Ă? Ă™Ăœ Ă“Ă—ĂšĂœĂ™Ă Ă?Ă?Ë› Ëž Ă™Ă˜Ă Ă?ĂœĂ?Ă?Ă–ĂŁ ĂŁĂ™Ă&#x; ĂœĂ?ĂžĂ‹Ă“Ă˜ Ă‹Ă˜ Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽĂ“Ă˜Ă‘ Ă™Ă? ĂĄĂ’Ă‹Ăž ÙÞÒĂ?ĂœĂ? Ă?Ă‹Ă˜Ă˜Ă™Ăž Ă™Ăœ Ă—Ă‹ĂŁ Ă˜Ă™Ăž Ě™Ă“Ă˜ Ă—Ă‹Ă˜ĂŁ Ă?Ă“ĂžĂ&#x;Ă‹ĂžĂ“Ă™Ă˜Ă?Ěš Ă•Ă˜Ă™ĂĄ Ă™Ăœ Ă&#x;Ă˜ĂœĂ‹Ă Ă?Ă–Ë› Ëž Ă™Ă&#x; Ă’Ă‹Ă Ă? ÞÒĂ? Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ ÞÙ Ă•Ă˜Ă™ĂĄ ĂĄĂ’Ă‹Ăž ÙÞÒĂ?ĂœĂ? ĂŒĂ?Ă–Ă“Ă?Ă Ă?Ë› Ëž Ă™Ă&#x; Ă?Ă˜Ă‘Ă‹Ă‘Ă? Ă“Ă˜ Ă‹ĂŒĂ?ĂžĂœĂ‹Ă?Ăž Ă—Ă?Ă˜ĂžĂ‹Ă– Ă‹Ă?ÞÓà ÓÞÓĂ?Ă? ÞÒËÞ Ă?Ă˜Ă‹ĂŒĂ–Ă? ĂŁĂ™Ă&#x; ÞÙ Ă“Ă—Ă‹Ă‘Ă“Ă˜Ă? ĂžĂ’Ă“Ă˜Ă‘Ă? Ă?Ă‹Ă?Ăž Ă?Ă™ĂœĂĄĂ‹ĂœĂŽĂ“Ă˜Ă‘ ĂŁĂ™Ă&#x; ÞÙ ĂžĂ’Ă“Ă˜Ă• Ă‹Ă˜ĂŽ ĂšĂ–Ă‹Ă˜ Ă‹ĂŒĂ™Ă&#x;Ăž ÞÒĂ? Ă?Ă&#x;ĂžĂ&#x;ĂœĂ?Ë› Ëž Ă™Ă&#x;Ăœ Ă?Ù×ÚÖĂ?â Ă—Ă?Ă˜ĂžĂ‹Ă– Ă?Ă•Ă“Ă–Ă–Ă? Ă‹Ă–Ă?Ă™ Ă’Ă?Ă–Ăš ĂŁĂ™Ă&#x; ÞÙ Ă?ĂžĂ‹ĂŒĂ“Ă–Ă“Ă?Ă? ĂŁĂ™Ă&#x;Ăœ ÞÙÎËã ĂŒĂŁ ĂœĂ?Ă Ă?ĂœĂ?Ă“Ă˜Ă‘ ĂŁĂ™Ă&#x; ĂŒĂ‹Ă?Ă• Ă“Ă˜ĂžĂ™ ĂŁĂ™Ă&#x;Ăœ Ă“Ă—Ă—Ă?ĂŽĂ“Ă‹ĂžĂ? Ă™Ăœ ĂŽĂ“Ă?ĂžĂ‹Ă˜Ăž ÚËĂ?Ăž ÞÙ Ă‹Ă˜Ă‹Ă–ĂŁĂ?Ă? Ă‹Ă˜ĂŽ ÞÙ ĂœĂ?Ă?Ă–Ă?Ă?Ăž Ă™Ă˜ Ă?Ă“ĂžĂ&#x;Ă‹ĂžĂ“Ă™Ă˜Ă? ÞÒĂ?ĂœĂ?Ë› Ëž Ă™Ă&#x; Ă’Ă‹Ă Ă? ÞÒĂ? Ă?Ă•Ă“Ă–Ă–Ă? ÞÙ Ă–Ă“Ă˜Ă• Ă&#x;Ăš Ă—Ă“Ă˜ĂŽĂ? åÓÞÒ ÙÞÒĂ?Ăœ ĂšĂ?ÙÚÖĂ?Ë› Ă’Ă“Ă? Ă?Ă˜Ă‹ĂŒĂ–Ă?Ă? ĂŁĂ™Ă&#x; ÞÙ Ă&#x;Ă?Ă? ÞÒĂ?Ă“Ăœ Ă?Ă’Ă‹ĂœĂ?ĂŽ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă?Ă?Ëœ Ă“Ă—Ă‹Ă‘Ă“Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă?Ëœ Ă“Ă˜Ă˜Ă™Ă Ă‹ĂžĂ“Ă™Ă˜Ă?Ëœ ĂœĂ?Ă?Ă–Ă?Ă?ĂžĂ“Ă™Ă˜Ă? Ă‹Ă˜ĂŽ ĂŒĂ“ĂžĂ? Ă™Ă? ÞÒĂ?Ă“Ăœ ĂšĂ?ĂœĂ?Ă™Ă˜Ă‹ ÞÙ Ă—Ă™Ă&#x;Ă–ĂŽ ĂŁĂ™Ă&#x;Ăœ Ă™ĂĄĂ˜ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœË› Ëž Ă™Ă&#x;Ăœ Ă—Ă?Ă˜ĂžĂ‹Ă– Ă‹Ă˜ĂŽ Ă?Ă™Ă?Ă“Ă‹Ă– Ă?Ă‹ĂšĂ‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă? ÞÙÎËã Ă‹ĂœĂ? Ă?Ă™ ĂŽĂ?Ă Ă?ÖÙÚĂ?ĂŽ ÞÒËÞ ĂŁĂ™Ă&#x; Ă?Ă‹Ă˜ Ă?Ă™Ă&#x;ĂœĂ?Ă? Ă‹Ă˜ĂŽ Ă–Ă™Ă‹ĂŽĚ‹Ă™Ă˜ Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜ Ă‹ĂŒĂ™Ă&#x;Ăž Ă?Ă&#x;ĂŒĂ”Ă?Ă?ĂžĂ? ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’Ă™Ă&#x;Ăž ÚËĂ?Ăž Ă‘Ă?Ă˜Ă?ĂœĂ‹ĂžĂ“Ă™Ă˜Ă?Ë› Ëž Ă™Ă&#x; Ă‹ĂœĂ? Ă‹ĂŒĂ–Ă? ÞÙ Ă&#x;Ă?Ă? ÞÒĂ? Ă?Ă Ă?Ăœ Ă?Ă˘ĂšĂ‹Ă˜ĂŽĂ“Ă˜Ă‘ ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁ ÞÙÎËã ÞÙ Ă?Ă’Ă‹ĂœĂ? Ă‹Ă˜ĂŽ ĂœĂ?Ă?Ă?Ă“Ă Ă? Ă“ĂŽĂ?Ă‹Ă? Ă‹Ăž ÞÒĂ? ÞÙĂ&#x;Ă?Ă’ Ă™Ă? Ă‹ ĂŒĂ&#x;ĂžĂžĂ™Ă˜ Ëž Ă™Ă&#x; Ă‹ĂœĂ? Ă?Ă Ă?Ă˜ Ă‹ĂŒĂ–Ă? ÞÙ Ă?ĂœĂ?ËÞÓà Ă?Ă–ĂŁ Ă&#x;Ă?Ă? Ă‹Ă?ĂšĂ?Ă?ĂžĂ? Ă™Ă? Ă“ĂŽĂ?Ă‹Ă? ÞÒËÞ ÙÞÒĂ?Ăœ ĂšĂ?ÙÚÖĂ? ĂšĂ&#x;Ăž Ă?Ă™ĂœĂĄĂ‹ĂœĂŽË› Ă? Ă“Ăž ĂĄĂ?ĂœĂ?Ëœ Ă˜Ă™ĂžĂ’Ă“Ă˜Ă‘ Ă—Ă‹ĂŁ ĂœĂ?Ă‹Ă–Ă–ĂŁ ĂŒĂ? ĂžĂœĂ&#x;Ă–ĂŁ Ă™ĂœĂ“Ă‘Ă“Ă˜Ă‹Ă–Ë› Ëž Ă™Ă&#x; Ă’Ă‹Ă Ă? Ă‹ Ă‘ĂœĂ?Ă‹Ăž Ă?ËÚËĂ?ÓÞã Ă?Ă™Ăœ ÑÙÙÎ Ě™Ă‹Ă˜ĂŽ Ă?à ÓÖ̚˛

Back Row: L-R: The Group Public Relations/Event Manager, DuďŹ l Prima Foods Plc, Mr. Tope Ashiwaju; representative of the wife of Lagos State Governor, Mrs. Oyindamola Ogunsanwo; National Head, Indomie Fan Club, Miss Karishma Rustag; and National Coordinator, Indomie Fan Club, Mrs. Faith Jousha, with some children, at the Indomie Children’s Day celebration in Lagos‌ recently PHOTO: ETOP UKUTT

Mrs Kehinde Omoru writes from the UK

...Stakeholders Canvass Good Nutrition, Moral Values for Children

Yinka Kolawole in Osogbo

Funmi Ogundare Nigerian children marked the 2019 Children’s Day on May 27. The theme of this year’s celebration, ‘End Malnutrition: Protect the Future of the Nigerian Child’ was in recognition of the need to form a campaign template to enlighten and educate the public on the role of balanced diet in the development of the children. The celebration, organised by the Lagos State Ministry of Education, witnessed a parade and rally held at the Agege Stadium. Speaking at the programme, the Deputy Governor, Dr. Idiat Adebule,

who was represented by the Permanent Secretary in her office, Mrs. Yetunde Odejayi encouraged children to be a source of joy to their parents and nation, adding that education will continue to get the attention of the state government. The wife of the state Governor, Mrs. Bolanle Ambode said since Children’s Day demands that they are taught good moral values, there is need to pay generous attention to them to enable them become responsible citizens of the society . “We must teach them the fear of God, hard work and nobility of character. This is a project which we must

all commit ourselves to do both individually and at the family level,� she said. She regretted the rate of juvenile delinquencies in the society, saying that it will reduce if attention is paid to moral values. Mrs. Ambode, who was represented by the Director, Admin and Human Resources, Ministry of Finance, Mrs. Kemi Durosimi-Etti, urged the children to be good ambassadors of the country by shunning drugs and everything that is capable of doing damage to their future. “You should stand up for your right with respect and be the best you can for your family, state and country.�

The Chairman, State Universal Basic Education Board (SUBEB), Dr. Ganiyu Sopehin, who commended the children for their academic performance during the course of the year, as well as government bodies for the development of education at the basic level, stressed the need for children to be of good behaviour while shunning all vices that would derail their progress in life. “Children should realise that it is their performance that will determine a better future,� he said, while appealing to cooperate organisations to support the government to better the lives of children.

Old Students Award Scholarship to 15 Students The Old Students’ Association of Baptist High School, Iree in Boripe Local Government Area of Osun State has awarded scholarships to over 15 students of the school. Speaking at the 60th anniversary of the school, the President of the association, Kayode Odebode added that over N5 million has been spent to assist indigent students and to encourage and motivate all brilliant students. He said the association is responsible for the welfare of the staff and students while several scholarship foundations have been created by members to assist indigent students. Odebode said the association is already partnering the government, having realised

that it can lend a hand of support to the school by creating and adding value. According to him, the association has refurbished six blocks of classrooms and provided and equipped the school library, as well as the establishment of IT facility, new corpers lodge with modern fittings, face lift the school and a new library, fully equipped with internet facility. He also stated that the association provided rapid succour to the school when a windstorm carried away the roofs of about four buildings The president stressed that the institution, being one of the first few in the Old Osun Division, has contributed to the development of the state and nation, having produced professionals in different fields of human endeavour.

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T H I S D AY Ëž Í°ÍˇËœ Ͱ͎ͯ͡

‘We Want to Make Learning more Engaging, Fun for Pupils through Games’ Titi Adewusi is an edu-tech entrepreneur with over 18 years collective experience. She is a cofounder of 9ijakids, an edu-tech start-up that develops educational games and programmes for children with the aim of enhancing learning. In this interview, she talks about the importance of technology to children’s education and how games can be used to drive the effects of learning more interesting. Omolabake Fasogbon brings the excerpts

C

using and playing the game is like any other thing.

an you identify some of the challenges facing children’s education in the country? I will like to say that the major challenge is quality teacher. There is the dearth of quality teachers in our primary schools and I think it is important that government addresses this as a matter of urgency because this is the foundation, which matters most in a child’s life. The reality is that you cannot give what you don’t have; we need quality teachers to breed quality children. As far as government is trying to improve quality teachers, they still need to invest more in them through trainings and incentives. They must also ensure that the right teacher takes the right subject and there should be a policy to back this up, you can’t be poor in mathematics, yet you take pupils mathematics, automatically, the pupils will be poor in mathematics. Another thing is the proliferation of schools and most of these schools are not up to standard. Funding is another hiccup endangering children’s education in the country. How then do you think government can improve performance in Children’s education? Collaborations! That is where the solution lies. The government alone cannot do it; they need to forge quality partnerships that will take the sector to its promise land. I make bold to say that projects that have embraced private participation are the ones that get to see explosion. Government must also strive to develop policies that are non-negotiable. It might interest you to know that there are schools in Nigeria that do only British curriculum and nothing about Nigeria, I mean it’s surprising. The reason people send their children to another country is that apart from what they feel they will learn, they should also learn a bit of such country’s culture, but some schools in the country will tell you they don’t do anything on Nigeria, yet government allowed it. Nigerians in that school will grow up with what they think is superiority complex but in actual fact, it is inferiority complex. So in actual fact they are telling me I should not be proud of who I am. Government needs to push national pride and values starting from the children; they need to tighten reins in pushing policies that are non-negotiable such that generations to come will see Nigeria as a superior country that should not be looked down on. Above all, government should invest in technology to make learning easier and interesting for the children. Technology we all know is the future and everybody is presently going that direction, Nigerian kids should not be left behind as well. A lot of people have condemned children’s exposure to technology as a result of its negative impact on them. What is your take on this? I will say technology itself is not a problem, but the kind of contents being fed into it. The truth is that some people are using it well, while some people use it otherwise. The question is what kind of contents are the children exposed to? You see, there are a lot of contents online but we can help the children by exposing them to content that will boost their intellect and enhance their educational output. Technology is something that opens a whole new world to one. I mean there are a lot of apps and collaborations online that can be used to teach children, yet in a very fun way. As parents and teachers, we should direct kids to use technological tools to create and learn, not just for consuming and going on social media. This would also make Nigerian kids to have the same quality of education with

Can you talk about some of the games you have developed on the platform? Right now, we have almost 200 games on the platform. We have various games in different classes. For instance on Nigeria, we have a game that is on destination Lagos, this is trying to introduce children to various places in Lagos, there is also the citizenship game to see whether you are a citizen indeed, we have something on democracy which is about election, voting and more. We also have on various famous people in Nigeria, we have on past presidents, and we have on values such as honesty, tenacity, sportsmanship and patience, among others. We also have on financial literacy, savings, earning money and entrepreneurship, we have on academics including Math, English, Science, Music, Yoruba, it is a whole collection of a lot of things. It is like a football game, such that if you get a question right, you get a point. We have quite a lot of games and we are still bringing more on board.

Adewusi their counterparts all over the world. This is one of the reasons we have come up with 9ijakids initiative to enhance and make learning fun for children. Can you explain the initiative better? 9ijaKids was established by three sisters and basically, what it does is to develop educational games for children to enhance learning and make it fun. What we did was to take the concept of wanting to teach the children something and saying we can do it with technology, and so we take teaching, fun and technology and put them together, that’s how we came up with educational game. I believe that the best way to learn something and still remember very well years after is to play a game on it. If you make something fun, you are more likely to remember it. So, we take the curriculum and turn it into a game to aid learning, but we don’t do only academics such as Maths, English Language and Science, we also do things on Nigeria because we are a proudly Nigerian company pushing for Nigeria, and there are also games on values, etc. Right now, 9ijakids is for pupils in primary schools and we have contents for as low as three- year-old kids in nursery class all the way to age 11. What inspired the initiative? You see, I discovered that a lot of Nigerian kids don’t really know much about Nigeria, I use my son as an example, I realised that my son was not learning enough about Nigeria because he goes to school where they do a bit of Nigerian curriculum, they were learning more about Queen Elizabeth and all that, and I felt like people need to know more about Nigeria because that is what helps the national pride. So I decided to come out with a puzzle and thought of doing a puzzle book, but then, my sisters and I reasoned that children don’t really fancy reading on a book like they do on iPad and other devices. So we came up with the concept of devising a game, same concept but now more technology driven. I tell you the feedback has been awesome, I can tell you the children are actually demanding for more as they now have increased zeal

for learning. Do you think this initiative will work in Nigeria, considering the huge cost of internet accessibility in the country? I really don’t think this would affect the acceptance level, you know why? Even when I look at it that internet accessibility might be a drawback, I was surprised to still find out that when compared to other African countries, Nigeria actually still has the highest level of internet penetration. Yes, device and internet penetration is relatively low but we cannot say because of that we won’t move forward. It is just like saying that a lot of people don’t have cars and as such, we should continue with bicycle. No, it is not possible. When sim cards and mobile phones came, they were for the big boys and now, virtually everyone has one and even more. Everybody doesn’t have technology but I believe that the more people see value in it, the more they embrace it and the more people start embracing it, the cost keeps coming down and that is our hope. The more we prepare for it, the more we have the content because technology is just technology; there is need for content to enrich it. So, we are working with the content and we are hoping that other factors are working to help it to be readily available for everybody. What about pupils that are not tech savvy? I don’t think being savvy or not is an issue because I play the game with public school pupils who don’t have access to technology and they did quite well. My initial reservation was that they are not tech savvy, but no, I got it wrong, it may surprise you that a child of two-three years who cannot read will somehow be able to navigate through your phone to where there are pictures, games and more. Once you give them the instruction, they catch up so quick and I think it is because there is a lot of technology known and unknown to us around them, so it does not matter if you are technology savvy or not, however, you need to have a device because it is technologically enabled. Apart from that,

What are some of the challenges you encountered in bringing the initiative on board? Accessibility to internet is one of the challenges we envisaged, but as time went on, we realised that it won’t stop its acceptance. Another thing is for the children to be able to access device to play the game. A major problem is also trying to make people to accept and embrace the idea. Because it is something new, people find it hard to believe that Nigerians can develop games for children, since they are used to getting it from outside the country. Also, Nigerian contents are not easily available online and these are the information we work with. What are the partnership opportunities that you have for brands that are willing to partner with you? We are looking to partnering with as many people that are passionate about education. Talk of banks that want to push financial literacy by teaching people early about savings, investment and general banking, we are ready to partner with them and let children know about money in a fun way, we are open to partnership with any state government that is willing to digitise education, some governments are buying computer and all that but those computers are just there without relevant contents. We are available to provide interesting and engaging contents for children to learn. We would also want to partner with multinationals that target education for their corporate social responsibilities. For us, we would appreciate partnerships with organisations that want to make devices available to schools, especially public schools, so that they too can have unlimited access to technology, we need them to have education that is relevant. If education is preparing you for the future and the future is full of technology, then we need education that has technology as well. How can children locate your games and how affordable are they? The games can be downloaded on smartphones by visiting any of the stores. Some of the games are free, but we have some additional bundles that you will have to pay for. Right now, we are trying to make the payment as low as possible, the bundles are like N3,000 to about N5,000, but our target is to make it accessible to everyone. Once you download it, then you can start playing offline.

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T H I S D AY Ëž Ëœ Í°ÍˇËœ 2019

BUSINESS/MONEYGUIDE

Sanwo-Olu Launches Eko Innovation Centre Obinna Chima The incoming Governor of Lagos, Mr. Babajide Sanwo-Olu, yesterday unveiled the Eko Innovation Centre, a tech hub that is private sector-driven. The initiative was developed to strategically increase entrepreneurial and technological capacity across the state. Speaking during the launch of the centre located at Ikoyi, Sanwo-Olu, who would be sworn-in today as Governor of Lagos State, said the location of the innovation centre used to be one of his campaign offices. “It used to be a place where I had lots of young people who used to spend long nights to develop a lot of concepts around my manifesto. “So, we said to ourselves, what is the best thing we can use this

place for and so we decided to turn it into a tech hub, where people can come here to develop ideas. “So, it is for Lagosians to come and take advantage of it once it fully becomes operational. It is part of our contribution to the things we preached while we were campaigning, that we would make Lagos a tech hub,� he said. According to him, if “we solve the Lagos problem, you have to a large extent solved the Nigerian problem.� The Eko Innovation Centre is supposed to run independent, without any form of support from the Lagos government, Sanwo-Olu said. “But if we see that products coming out from this space can make sense to our government, we would take advantage of it. “Technology is the way to go,

it is the way of the future and it is the way the entire universe is going to. “Everybody is using technology to develop everything that we need. We are believing that from this place, things around the THEME concept that has to do with the environment, education, transportation and health would be developed. “People from here would come and give us innovative ideas to solve our transport problem; ideas with which they think locally but act globally,� he added. Also speaking, the Chief Executive Officer and Founder of the Eko Innovation Hub, Victor Gbenga Afolabi, said, “the innovation hub was formed to a large extent, when this place was used as the campaign office that brought in the incoming governor of Lagos State.�

CBN, BoI Propose Financing Window for Edo Creative Hub Adibe Emenyonu Ă“Ă˜ Ă?Ă˜Ă“Ă˜ ÓÞã The Central Bank of Nigeria (CBN) and the Bank of Industry (BoI) have disclosed plan to partner with Edo State Government to ease access to finance to creators at the Edo Creative Hub, an initiative of the Edo State Governor, Mr Godwin Obaseki. The finance windows are expected to come from the programmes extended to the entertainment industry in an effort to diversify the Nigerian economy. Senior Special Assistant to the Edo State Governor on Investment Promotion, Mr Kelvin Uwaibi said this in a chat with journalists. According to him, the

opportunity came in the wake of the stakeholders meeting with actors in Nigerian’s entertainment industry held in Benin City. The stakeholders meeting was organised by EdoJobs, Edo State Investment Promotion Office, Trace TV and Market Development in the Niger Delta (MADE), which was funded by the United Kingdom’s Department for International Development (DFID). He said the state government was working on a creative industry policy document that would provide the framework for the industry in the state and set parameters for government intervention and incentives. According to him, “We had a productive chat with members

of the creative industry and are currently working on the entertainment industry policy document. “The CBN and BoI have made commitments to ease access to finance and we are excited about that. This will set the tone for government’s engagement with the actors in the industry and set modalities for the incentives we will be providing.� He added that the plan was to ensure that the indigenous actors in the industry benefit from the input of those in the Diaspora, ensuring that the funds to be attracted are domiciled in and used by the actors across the different value chain in the state.

Firm Pledges Cheap,Alternative Source of Power Ugo Aliogo The Country Manager, Eaton Nigeria, Temitayo Awojole, has expressed the desire of the company to provide cheap and alternative source of electricity through its microgrid solution as part of measures to address the country’s poor power supply. Awojole, who disclosed this at a meeting in Lagos, noted that the microgrid solution was a system that works automatically to manage different power sources, to ensure that customers get 24 hours of electricity. He also said one of the benefits of the solution was that it helps to save cost on energy supply, while protecting the environment and the ozone layer.

“So what we do with the microgrid is to harness all the sources of energy we have such as utility and also to look at renewables, then combine these sources of energy together. We have a logic that determines which source of energy is cheapest for a customer based on discussions, the right time and the energy mix in order to ensure that there is reliable power,� he added. Awojole, explained that presently, the company was still prospecting for clients and it is also concluding some transactions with customers who are interested in microgrid. He added that in a bid to penetrate the market, the company had trained its personnel in Nigeria to be able to deploy

the solutions, “also we have been able to bring information and train customers and prospects technically on what to do and the benefits of the solution.� According to him, “We are looking at solutions in the real estate and hospitality business, why we are doing that is that utility is not reliable. So we are trying to provide an alternative source of energy, that will be cheaper and aid production, and most especially reliable and efficient. “We have solutions that cut across all the sectors of the economy, and one key segment is oil and gas. We are trying to cut across other segment of the market and it is interesting. We are getting more prospects than what we did last year.

GTBank Partners Development Bank In line with its long-term commitment of growing micro, small and medium scale enterprises (MSMEs), Guaranty Trust Bank Plc (GTBank) has announced that it is collaborating with the Development Bank of Nigeria (DBN) to disburse N25 billion funding to businesses. The funding is the single largest disbursement by the DBN to any financial institution in Nigeria since it commenced operations, according to a statement. In 2018, the DBN disbursed a total of N31.364 billion to

35,000 end borrowers through participating financial institutions (PFIs). This is expected to grow significantly following the N25 billion funding partnership with GTBank, due to the bank’s focus on creating greater access to credit for small businesses. Commenting on the partnership with the Development Bank of Nigeria, the Managing Director and CEO, Guaranty Trust Bank Plc., Segun Agbaje, was quoted to have said: “Empowering MSMEs is key to accelerating Nigeria’s economic growth and making the lives of millions of

Nigerians better. This partnership with the Development Bank of Nigeria reflects our commitment to building a strong MSME sector buoyed by easy access to all of its financing needs.� He further stated that, “As a bank, that is passionate about promoting enterprise, we will continue to provide innovative solutions and create global platforms that expand opportunities for small businesses to build capacity, grow revenue and connect with consumers and business experts from around the world.�

L-R: Group Head of Strategy, Nosak Group, Mr. Deji Rahman; Group Executive Director, Corporate Services, Mr. Osagie Ogunbor; Managing Director, Nosak Distilleries Limited, Mr. Osaro Omogiade and Chief Executive Officer, Zenith Agroethanol Nigeria Limited, Olaoluwa Bamikole, during the 4th Cassava & Starch Africa Summit held in Accra, Ghana‌ 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™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT FRIDAY, 24 MAY 2019

The price of OPEC basket of fourteen crudes stood at $67.40 a barrel on Friday, compared with $68.56 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

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T H I S D AY Ëž Ëœ Í°ÍˇËœ Ͱ͎ͯ͡

MARKET NEWS

NSE Restates Commitment to Education, Donates N10m to School Goddy Egene The Nigerian Stock Exchange (NSE) has restated its commitment to investment in educational interventional programmes, saying education is key to unlocking Africa’s greatest potential. The Divisional Head, Shared Services, NSE, Mr. Bola Adeeko, stated this during the donation of N10 million to Maisandari Alamderi Model Nursery and

Primary School, located in the Abuja Talakawa District of Maiduguri. The donation was in fulfilment of the exchange’s commitment to a three year funding scheme for the administration and maintenance of the school which it donated to the Borno State Government in 2017, to help Internally Displaced Persons (IDPs), as part of NSE corporate social responsibility (CSR) programme. “As an organisation, we are

P R I C E S MAIN BOARD

F O R DEALS

convinced that education is key to unlocking Africa’s greatest potential, hence, our huge investment in educational intervention programs. We will continue to do our best to create community focused initiatives to support the United Nations Sustainable Development Goal (SDG) number 4, which seeks to achieve inclusive and equitable quality education for all by 2030. We donated the Maisandari Alamderi Model Nursery

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

and Primary School not just to provide quality education in the IDP camp but to also create a model for educational experience for vulnerable children in underserved and crisis prone communities,�Adeeko said. According to him, in its 18th month of existence, the Borno school initiative has received positive feedback and testimonials from community leaders and parents as it continues to make giant strides, having directly

T R A D E D MAIN BOARD

A S

impacted over 200 families. It has recorded zero dropout of the 250 pupils enrolled (141 boys and 109 girls); improved learning outcomes in speaking, reading and writing among the pupils - many of the pupils that had never attended any formal school before are now reading English texts fluently and unaided. “The achievements recorded have been made possible by the critical roles played by our implementing

O F

partner, Bridge International Academies, the Borno State Government, SUBEB Chairman, Local Government and other stakeholder who are committed to sustaining the impact of this project. We are currently working to expand this intervention and hope that other organisations and individuals can join us in our efforts to increase access to qualitative education for the IDPs,� said Adeeko.

2 7 / 0 5 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

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Wednesday, May 29, 2019 Thisday Afrinvest 40 Index Gains 4.7%

THISDAY AFRINVEST 40 INDEX

Yesterday, the Thisday Afrinvest 40 Index rose by 4.7% to ƐĞƩůĞ Ăƚ ϭ͕ϯϳϳ͘Ϯϳ ĚƵĞ ƚŽ ŐĂŝŶƐ ŝŶ GUARANTY (+5.4%), ZENITH ;нϵ͘ϭйͿ ĂŶĚ DANGCEM (+5.0%). These stocks

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϰϮ͘ϭй ŽĨ ƚŚĞ ŝŶĚĞdž͘

Local Bourse Reverses 2-day Bearish Streak... ASI up

3.7%

Ticker

Current Price

THISDAY AFRINVEST 40

in yesterday͛Ɛ ƐĞƐƐŝŽŶ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ƌŽƐĞ ďLJ ϯ͘ϳй

Price Change Index to Date

ROE

ROA

4.70%

-6.2%

37.7%

16.8%

6.0%

4.8x

0.7x

6.2%

5.4%

19.7%

-4.2%

-4.3%

33.1%

5.3%

4.9x

1.6x

8.6%

20.3%

2 Zenith Bank PLC

20.95

9.1%

12.1%

-9.1%

1.0%

24.7%

3.2%

3.5x

0.8x

14.5%

28.4% 11.0%

4 Nestle Nigeria PLC

201.60

5.0%

10.3%

6.3%

8.4%

40.1%

21.8%

9.1x

3.3x

8.3%

3.6%

8.5%

-2.4%

-1.7%

81.2%

27.4%

24.3x

18.3x

4.1%

4.1%

60.00

3.4%

4.6%

-29.8%

-21.6%

9.5%

4.4%

27.5x

2.7x

4.1%

3.6%

7.40

5.7%

5.3%

-6.9%

-7.5%

10.0%

1.1%

4.4x

0.5x

3.7%

22.5%

14.00

0.0%

3.5%

-27.8%

-27.8%

4.7%

4.3%

4.1x

0.5x

2.9%

24.6%

2.7x

0.4x

14.2%

37.7%

0.5x

3.3%

18.7%

8.3%

5 Nigerian Brew eries PLC 6 FBN Holdings Plc

8 United Bank for Africa PLC

6.25

9.6%

3.8%

-18.8%

-19.9%

15.5%

1.7%

9 International Brew eries PLC

20.00

0.0%

2.5%

-34.4%

-36.5%

-23.8%

-3.2%

549.90

5.8%

3.3%

-14.1%

-11.4%

10.1%

6.3%

ƚƌĂĚĞĚ ƐƵƌŐĞĚ ďLJ ϭϯϳ͘ϭй ĂŶĚ ϯϮϭ͘ϲй ƚŽ ϯϰϰ͘ϯŵ ƵŶŝƚƐ ĂŶĚ Eϳ͘ϯďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ GUARANTY ;ϲϳ͘ϭŵ ƵŶŝƚƐͿ͕ ZENITH ;ϱϮ͘ϭŵ ƵŶŝƚƐͿ ĂŶĚ FBNH ;ϰϰ͘ϳŵ ƵŶŝƚƐͿ ǁŚŝůĞ GUARANTY ;EϮ͘ϭďŶͿ͕ DANGCEM ;Eϭ͘ϯďŶͿ ĂŶĚ ZENITH ;Eϭ͘ϬďŶͿ ůĞĚ

ƚŚĞ ǀĂůƵĞ ĐŚĂƌƚ͘

10 SEPLAT Petroleum Development C

15.2%

1,450.00

DANGCEM (+5.0%), ZENITH ;нϵ͘ϭйͿ ĂŶĚ GUARANTY

Eϭϯ͘ϯƚŶ͘ ĐƟǀŝƚLJ ůĞǀĞů ƐƚƌĞŶŐƚŚĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ

Divindend Earnings Yield Yield

33.00

ƚŽ ϯϭ͕ϯϬϳ͘ϬϬ ƉŽŝŶƚƐ͕ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ

ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŝŶĐƌĞĂƐĞĚ ƚŽ Eϭϯ͘ϴƚŶ ĨƌŽŵ

P/BV

1,377.27

7 Cement Co Northern Nigeria PLC

;нϱ͘ϰйͿ͘ Ɛ Ă ƌĞƐƵůƚ͕ ŝŶǀĞƐƚŽƌƐ ŐĂŝŶĞĚ Eϰϴϵ͘ϵďŶ ŝŶ ǀĂůƵĞ

P/E

1 Guaranty Trust Bank PLC

3 Dangote Cement PLC

dŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ŚĂůƚĞĚ ŝƚƐ Ϯ-ĚĂLJ ďĞĂƌŝƐŚ ƌƵŶ

Price Previous Current Change Price Weightin YTD Change g

11 Access Bank PLC

4.9x 5.4x

-1.8%

6.35

9.5%

3.4%

-6.6%

-2.3%

22.2%

2.1%

1.6x

0.4x

12.10

10.0%

2.7%

-13.6%

-15.4%

15.3%

1.2%

3.4x

0.5x

13 Stanbic IBTC Holdings PLC

42.25

0.5%

2.5%

-11.9%

-9.0%

30.3%

4.6%

6.3x

1.7x

3.6%

14 Unilever Nigeria PLC

33.70

0.0%

2.4%

-8.9%

-8.9%

12.7%

7.7%

18.8x

2.3x

4.6%

5.3%

15 Lafarge Africa PLC

10.45

4.5%

1.5%

-16.1%

-12.9%

-53.7%

-7.9%

0.7x

14.0%

-60.3%

16 Guinness Nigeria PLC

50.50

0.0%

1.0%

-29.9%

-29.9%

6.8%

3.7%

16.9x

1.3x

3.6%

5.9%

17 Okomu Oil Palm PLC

74.00

0.0%

1.4%

-2.9%

-2.9%

21.0%

16.0%

11.7x

2.4x

4.3%

8.6%

18 Total Nigeria PLC

162.00

0.0%

1.1%

-20.2%

-20.2%

19.3%

4.5%

9.5x

1.8x

10.7%

10.6%

19 11 PLC

175.00

0.0%

1.3%

-5.7%

-5.7%

38.0%

16.8%

5.8x

2.0x

4.7%

17.1%

13.35

-2.9%

0.7%

-42.2%

-39.9%

6.6%

2.0%

6.2x

0.4x

7.5%

4.65

8.1%

1.2%

-7.0%

-3.1%

14.3%

2.5%

2.1x

0.3x

22 Fidelity Bank PLC

1.77

-1.1%

1.0%

-12.8%

-12.8%

12.7%

1.4%

2.1x

0.3x

6.1%

23 Transnational Corp of Nigeria

1.17

3.5%

0.9%

-11.4%

-7.1%

16.4%

3.6%

4.4x

0.7x

2.6%

22.9%

24 Dangote Sugar Refinery PLC

13.40

0.4%

0.9%

-12.1%

-9.5%

22.3%

12.6%

6.7x

1.5x

8.2%

14.9%

26 FCMB Group Plc

1.65

1.9%

0.6%

-12.7%

-8.3%

8.8%

1.2%

2.1x

27 UAC of Nigeria PLC

6.95

9.4%

0.4%

-28.7%

-27.2%

-7.9%

-3.6%

12 Ecobank Transnational Inc

20 Flour Mills of Nigeria PLC 21 Oando PLC

61.9% 29.4% 15.8%

16.2% 47.4% 47.3%

25 Diamond Bank PLC

Bullish Sector Performance

ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĐůŽƐĞĚ ŝŶ ƚŚĞ ŐƌĞĞŶ͘ dŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ůĞĚ ŐĂŝŶĞƌƐ͕ ƵƉ ϲ͘ϴй ĚƵĞ ƚŽ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ GUARANTY (+5.4%) and ZENITH ;нϵ͘ϭйͿ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ĨŽůůŽǁĞĚ ĐůŽƐĞůLJ͕ ƌŝƐŝŶŐ ϰ͘Ϭй ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ SEPLAT ;нϱ͘ϴйͿ ĂŶĚ OANDO ;нϴ͘ϭйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƌŽƐĞ ϯ͘Ϯй ĂŶĚ Ϯ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ

;нϱ͘ϭйͿ ďƵŽLJĞĚ ƚŚĞ &Z-ICT ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ŚŝŐŚĞƌ ďLJ Ϯ͘Ϭй ĂŶĚ Ϭ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ͘

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ ϲ͘Ϭdž ĨƌŽŵ Ϭ͘ϳdž

ŐĂŝŶĞƌƐ ǁĞƌĞ ETI ;нϭϬ͘ϬйͿ͕ UBA ;нϵ͘ϲйͿ ĂŶĚ COURTVILLE ;нϵ͘ϱйͿ ǁŚŝůĞ ETERNA (-ϴ͘ϳйͿ͕ PZ (-4.7%) and NAHCO (ϯ͘ϲйͿ ůĞĚ ĚĞĐůŝŶĞƌƐ͘ tŚŝůĞ ǁĞ ĂŶƟĐŝƉĂƚĞ investors to take ƉŽƐŝƟŽŶ ŝŶ ĨƵŶĚĂŵĞŶƚĂůůLJ ƐŽƵŶĚ ƐƚŽĐŬƐ Ăƚ ĐŚĞĂƉ ƉƌŝĐĞƐ͕

0.0%

0.6%

8.9%

8.9%

9.3%

0.9%

6.4x

0.6x

0.0%

0.4%

-9.4%

-9.4%

37.0%

24.8%

2.3x

0.7x

3.8%

30 NASCON Allied Industries PLC

17.90

5.3%

0.4%

-0.6%

-0.6%

32.2%

12.9%

11.7x

3.8x

5.6%

31 Forte Oil PLC

28.00

2.0%

0.3%

-2.4%

0.0%

48.9%

7.4%

32 Union Bank of Nigeria PLC

7.05

2.2%

0.4%

25.9%

25.9%

6.6%

1.2%

12.3x

0.9x

23.50

2.2%

0.3%

16.9%

6.3%

19.9%

2.3%

4.8x

0.9x

34 PZ Cussons Nigeria PLC 35 Chemical and Allied Products P 36 Wema Bank PLC

8.1% 8.5%

-4.7%

0.2%

-33.1%

-34.1%

0.8x

1.8%

0.0%

0.2%

-10.8%

-10.8%

68.7%

31.5%

10.5x

6.6x

9.3%

9.5%

0.62

0.0%

0.2%

-1.6%

-1.6%

7.3%

0.7%

6.5x

0.5x

4.8%

15.5%

75.00

0.0%

0.2%

9.8%

9.8%

16.60

0.0%

0.4%

142.3%

151.5%

-15.8%

-5.1%

39 Transcorp Hotels Plc

5.40

0.0%

0.1%

-11.5%

-9.2%

6.0%

3.2%

40 AXA Mansard Insurance PLC

1.80

0.0%

0.1%

-1.6%

-1.6%

11.0%

3.1%

T o p 10 G a i n e r s

1.2x

1.7%

2.6x

1.2%

12.0x

0.7x

2.8%

7.9x

0.9x

ET I

12.10

10.0%

GUA R A N T Y

67.1

UB A

6.25

9.6%

Z EN IT H B A N K

52.1

9.1%

C OUR T VILLE

0.23

9.5%

FB NH

44.7

5.7%

A C C ESS

6.35

9.5%

A C C ESS

41.8

9.5%

UA C N

6.95

9.4%

UB A

20.3

9.6%

20.95

9.1%

NA HCO

20.1

-3.6%

CHA M S

0.36

9.1%

CHA M S

12.2

9.1%

OA N D O

4.65

8.1%

UC A P

9.5

0.9%

J A P A ULOIL

0.30

7.1%

F ID ELIT YB K

9.3

-1.1%

549.90

5.8%

ET I

7.4

10.0%

T ic k er

T o p 10 L o s e r s

Vo lum e

P ric e C hg % 5.4%

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

P ric e

P ric e C hg %

T ic k er

Value

ET ER N A

3.65

-8.7%

GUA R A N T Y

2143.6

5.4%

PZ

8.10

-4.7%

D A N GC EM

1316.6

5.0%

3.18

-3.6%

Z EN IT H B A N K

1043.5

9.1%

13.35

-2.9%

M TNN

949.0

2.0% 3.6%

NA HCO F LOUR M ILL

8.3%

T o p 10 T r a d e s b y V o l u m e P ric e C hg %

T ic k er

-6.8%

12.7%

P ric e

SEP LA T

21.0%

8.10

37 Beta Glass PLC

Z EN IT H B A N K

8.6% -7.5%

31.10

38 Dangote Flour Mills Plc

T ic k er

15.7%

2.1x

33 Julius Berger Nigeria PLC

P ric e C hg %

F ID ELIT YB K

1.77

-1.1%

N EST LE

492.1

A F R IP R UD

3.56

-1.1%

FB NH

322.2

5.7%

A C C ESS

256.5

9.5%

NB

138.4

3.4%

UB A

123.5

9.6%

ET I

89.0

10.0%

ǁĞ ĞdžƉĞĐƚ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ǁĞĂŬĞŶ ŝŶ ƐƵďƐĞƋƵĞŶƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ͘

Afrinvest West Africa Limited

43.7%

2.07

ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ƉƌĞĐĞĚŝŶŐ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ϯϬ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ ϲ ƐƚŽĐŬƐ ƚŚĂƚ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ͘ dŚĞ ƚŽƉ

48.4% -28.2%

58.00

ŐĂŝŶƐ ŝŶ DANGCEM (+5.0%) and NESTLE ;нϯ͘ϲйͿ͘ /Ŷ ƚŚĞ ƐĂŵĞ ǀĞŝŶ͕ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ MTNN ;нϮ͘ϬйͿ ĂŶĚ WAPIC

8.6% 9.7%

29 Presco PLC

28 Sterling Bank PLC

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ĞƋƵĂůůLJ ďƵůůŝƐŚ ĂƐ Ăůů ƚŚĞ

0.2x 0.3x

Brokerage

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com Oluwarotimi Ashimi | oashimi@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

61

WEDNESDAY, MAY 29, 2019 ˾ T H I S D AY

MARKET NEWS

GlaxoSmithKline Records N617.6m Profit, Declares N598m Dividend Goddy Egene Shareholders of GlaxoSmithKline Consumer have received a dividend N598 million for the year ended December 2018. The dividend, which translates to 50 kobo per share, was recommended by the board of directors while the shareholders approved it at the 48th annual

general meeting (AGM) held in Lagos. The company ended 2018 with a revenue of N18.411 billion, showing a growth of 14.1 per cent from N16.089 billion posted in 2017. Profit after tax rose 26.9 per cent from N486.433 million in 2017 to N617.624 million in 2018. Hence, the directors recommended a dividend of

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

50 kobo per share. Speaking at the AGM in Lagos, Chairman, of GSK Nigeria Plc, Mr. Edmund Onuzo, said that the company was focused on building sustainability around its consumer healthcare portfolio. “Despite the economic challenges, we have remained focused on our short and long term growth ambitions with

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 27May-2019, unless otherwise stated.

strong emphasis on operational intensity, cost optimization, growing market share across our key categories as well as reinventing our business operations.” “We would continue to support the GSK brand through increased marketing and promotions. Since 2017, our focus has been on growing major brands like

Sensodyne, Panadol, Andrews Liver Salt to drive baseline profitability. We are now more focused on our core strength and in the years to come, we hope to sustainably build our consumer healthcare portfolio” Onuzo said. He further disclosed that the company would continue to drive increased local manufacturing

and local content contribution via its recently announced contract manufacturing model to improve margins and mitigate against foreign exchange fluctuations. “We are strongly committed to attaining and sustaining high performance and would continue to invest in human capital and sustainable corporate responsibility initiatives.

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: +234 818 885 6757 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 0.87 0.88 3.95% ACAP Income Funds 0.76 0.76 33.60% 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 13.23% AIICO Balanced Fund 2.30 2.32 3.40% 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 15.44 15.90 -6.95% ARM Discovery Fund 343.67 354.03 -3.64% ARM Ethical Fund 28.99 29.87 2.67% ARM Money Market Fund 1.00 1.00 13.21% 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 96.09 96.76 -5.04% AXA Mansard Money Market Fund 1.00 1.00 12.46% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 1.82 1.82 14.04% 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 N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A 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 Cordros Milestone Fund 2028 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 12.49% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.12% 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 1,190.28 1,191.12 6.62% FBN Heritage Fund 142.93 143.89 0.11% FBN Money Market Fund 0.00 0.00 0.00% FBN Nigeria Eurobond (USD) Fund - Institutional 116.39 116.81 5.37% FBN Nigeria Eurobond (USD) Fund - Retail 116.36 116.79 5.61% FBN Nigeria Smart Beta Equity Fund 137.82 139.77 -8.12% 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 3.41 3.41 4.96% Legacy Equity Fund 1.12 1.14 -8.37% Legacy USD Bond Fund 1.05 1.05 1.94% 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 12.05% Nigeria Entertainment Fund 107.02 107.43 -0.51% GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund 10.00 10.00 12.97%

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 12.15% Vantage Balanced Fund 2.12 2.14 -1.41% Vantage Guaranteed Income Fund 1.00 1.00 15.42% Kedari Investment Fund (KIF) 130.43 130.51 4.36% 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 1.20 1.22 4.64% Lotus Halal Fixed Income Fund 1,102.04 1,102.04 5.56% 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 10.66 10.75 -7.35% Meristem Money Market Fund 10.00 10.00 12.14% 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 1.28 2.93% PACAM Fixed Income Fund 11.45 11.52 2.94% PACAM Money Market Fund 10.00 10.00 12.24% 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 120.30 120.67 -0.43% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 5.89% 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 2,331.64 2,344.90 0.75% Stanbic IBTC Bond Fund 201.59 201.59 6.02% Stanbic IBTC Ethical Fund 0.90 0.91 -4.74% Stanbic IBTC Guaranteed Investment Fund 254.94 255.03 5.18% Stanbic IBTC Iman Fund 157.12 159.02 -3.65% Stanbic IBTC Money Market Fund 100.00 100.00 12.71% Stanbic IBTC Nigerian Equity Fund 7,890.41 7,991.08 -7.02% Stanbic IBTC Dollar Fund (USD) 1.11 1.11 2.49% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.19 1.20 -0.15% United Capital Bond Fund 1.69 1.69 6.26% United Capital Equity Fund 0.68 0.69 -3.86% United Capital Money Market Fund 1.00 1.00 13.10% United Capital Eurobond Fund 110.79 110.79 3.29% United Capital Wealth for Women Fund 1.12 1.12 2.41% 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 10.56 10.73 0.25% Zenith Ethical Fund Zenith Income Fund Zenith Money Market Fund

11.88 21.83 1.00

12.05 21.83 1.00

-0.30% 13.16% 11.75%

REITS NAV Per Share

Yield / T-Rtn

5.40 120.90 52.38

-44.85% 2.69% 1.24%

Bid Price

Offer Price

Yield / T-Rtn

9.89 98.42 81.12

9.99 100.50 82.61

-6.19% -16.10% -8.52%

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

3.49 6.23 13.19 10.85 155.53

3.53 6.31 13.29 11.05 157.53

-12.59% -18.11% -11.71% -12.09% 8.30%

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.

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Apapa Gridlock Persists as Truck Drivers Defy FG’s Order We’re making progress, FRSC insists Eromosele Abiodun In what looks like a total defiance to the order given by the federal government that operators of trucks and tankers parked along access roads to the ports should vacate the area, the gridlock has persisted and overwhelmed the various agencies managing the traffic, THISDAY’s investigation has revealed. But the Federal Road Safety Corps (FRSC) has said that the new task team to clear the gridlock was making progress as measures were also being put in place to ensure sustainability in accordance with the recent ultimatum by President Muhammadu Buhari. However, at the Lagos Port Complex and Creek road section of the port access road, trailers and other heavy-duty vehicles were no longer parked indiscriminately. It is a different story from Mile 2 to Liverpool Road section

of Apapa-Oshodi Expressway as articulated vehicles blocked the roads despite efforts by the presidential task force to remove them from the roads. THISDAY gathered that the bad state of the Coconut and Tin-Can axis of the ApapaOshodi highway had prevented the task force from clearing that stretch of articulated vehicles on Sunday, thereby leaving the articulated vehicles on the Mile 2 axis. As at the time of filing this report, queue of the articulated vehicles had stretched down to Cele Bus Stop, with all of them maintaining one lane, and leaving the other two lanes for motorists to ply. A member of the task force who did not want his name in print told THISDAY that the difficult terrain of Coconut and Tin-Can axis of the Apapa-Oshodi highway was hampering the evacuation exercise. “We were able to remove

a couple of trucks from the Coconut and Tin-Can axis today. We have given others still parked at Mile 2 an ultimatum of today to vacate or else we will arrest their trucks. Most of them are parked at Mile 2 under the pretext that the backlog at Coconut and Tin-Can is still there. They have till tomorrow to vacate that area,” he said. THISDAY also gathered that Ijora Bridge was completely blocked yesterday, forcing commercial buses and motorcycles to drive against the traffic When contacted yesterday,

the National President of the Association of Maritime Truck Owners (AMATO), Remi Ogungbemi, told THISDAY that his members were complying with the presidential directive, stressing that trucks were still on the road because the government order was restricted to containerised trucks. While urging Nigerians to be patient, he said there was no way the trucks would be completely off the roads as Apapa is a port area adding that no system is perfect. Meanwhile, the FRSC has said that the new task team

to clear Apapa gridlock was making progress as measures were also being put in place to ensure sustainability in accordance with the recent President Buhari’s ultimatum. The News Agency of Nigeria (NAN) reported that the team had commenced “’Operation Totality Enforcement” to ensure implementation of the president’s directive that trucks parking on Apapa roads should vacate with 72 hours. The Lagos State Sector Commander FRSC, Mr. Hyginus Omeje, told NAN that tremendous progress had been

made in clearing the Apapa traffic constituted by the tankers and other articulated vehicles. According to him, the whole exercise started with stakeholders’ meetings to ensure everyone involved was carried along in the exercise. “We are making tremendous progress in clearing the gridlock along the corridor. “We started with a stakeholders meeting so that we can be on the same page with the organisations involved like Nigeria Ports Authority (NPA), Nigeria Shippers Council and the transport unions.

Borno Gov’s Steward Commits Suicide Michael Olugbode in Maiduguri Suicide, which is fast becoming a common currency in Nigeria, yesterday visited the Borno State Government House as the official steward of the state Governor, Kashim Shettima, hung himself. It was a pitiable situation as the lifeless body of the steward, John Achagwa, dangled on a Neem tree at the back of the Presidential Lodge at the Government House in Maiduguri. The crowd which gathered to watch Achagwa lifeless was unprecedented as many had come to get a parting gift from Shettima who would vacate office today after eight years in office. The cause of the suicide remains a mystery as people could not put a finger to want might have made Achagwa to take his life. Some of his colleagues who spoke on the condition of anonymity, told journalists that the deceased had maintained unusual quietness since he resumed work last Monday. One of them said: “He didn’t utter a word since morning. He just kept to himself. We were together till about 2p.m. until he suddenly disappeared.” Men of the state Fire Service and security personnel were immediately mobilised to the scene of the incident to bring down the victim from the tree. It was the first time such incident would occur in the State House Speaking later to journalists on the incident, the state Commissioner of Police, Mohammed Aliyu, said investigation has commenced on what could be responsible for the death. He said an autopsy could be done on him as part of investigation on the cause of death. Aliyu said his family and friends would be asked questions to get to the root of the incident. He however revealed that

preliminary investigation showed that the man was financially comfortable. Achagwa was said to have retired from the state civil service about eight years ago before he was retained by the state governor. In his reaction, the governor stated that he made the working conditions of the deceased very comfortable for him. Shettima, in a statement by his spokesman, Mallam Isa Gusau, said John Achagwa was supported by the governor to build a complete seven-bedroom apartment and was also given a car to go to work. Gusau said: “Shettima was shocked and has been wondering what kind of depression could push John, who was generally known to live comfortably, resort to taking his own life.” He said: “Governor Kashim Shettima is deeply shocked by the unfortunate incident, especially given the fact that John who is in mid 60s was publicly known to be one of the governor’s favourites as he served important guests at the presidential lodge for more than 30 years. “When John retired from civil service, Governor Shettima had requested that he be retained as casual staff because of his good services and the confidence in him. The Governor even supported John with personal funds with which he used in completing his beautiful house at a good location like Polo in Maiduguri. John also had a car to himself and he lived very comfortably. He was known to be friendly,” the statement explained. The statement added that “the governor has directed the Commissioner of Police to ensure thorough investigation, including carrying out a post mortem on his corpse and digging questions everywhere to establish what pushed him to take his own life.”

HERE COMES THE NEW GOVERNOR …

Lagos State Governor-elect, Mr. Babajide Olusola Sanwo-Olu (left), formally receiving the handing over documents from the outgoing Governor, Mr. Akinwunmi Ambode, at Lagos House, Alausa, Ikeja.......yesterday KOLA OLASUPO

Govs Lalong, Badaru, Sani-Bello, Tambuwal Dissolve Cabinets Laleye Dipo in Minna and Onuminya Innocent in Sokoto Governors of Plateau, Jigawa, Sokoto and Niger states have dissolved their cabinets ahead of today’s inauguration of new administrations in their states. Niger State Governor, Alhaji Abubakar Sani-Bello; Governor Simon Lalong of Plateau State; Muhammad Badaru of Jigawa State, and that of Sokoto State, Aminu Tambual, dissolved their cabinets yesterday. Secretary to the Plateau State Government, Mr. Richard Tokma, who announced the dissolution in a statement in Jos yesterday, said the Attorney General and Commissioner for Justice should remain in office pending the reconstitution of the State Executive Council. In the same vein, Governor Muhammad Badaru of Jigawa State has dissolved the State

Executive Council and directed all commissioners to hand over the affairs of their ministries to the permanent secretaries. The Commissioner for Information, Bala Ibrahim, announced this yesterday to journalists in Dutse, the state capital. Ibrahim said Badaru had also relieved all other political appointees, including the Secretary to the State Government, of their appointments. Meanwhile, Governor Tambuwal of Sokoto State yesterday dissolved the State Executive Council and disengaged other appointed political office holders. Tambuwal wished the ex-council members well and prayed for their successes in future endeavours. He said this in his valedictory session with the state council where he commended members

of the cabinet for their services to the state in different capacities. Tambuwal recalled that in July 2018, he dissolved the executive council when he defected from All Progressives Congress (APC) to the Peoples Democratic Party (PDP), saying he did not force any member to join him. The governor dissolved the executive council members, which included commissioners, Special Advisers and Special Assistants. Sani-Bello on Monday night dissolved the state executive council and directed all commissioners to prepare and handover the affairs of their ministries to their permanent secretaries. He also directed all other political appointees to do same and handover to the most senior civil servant in their departments or agencies. The governor in a statement issued yesterday by his Chief

Press Secretary, Jibrin Baba Ndace, commended the members of the state executive councils and special advisers for a job well done and further directed that all handover and taking over should be perfected on or before 12 mid-night of yesterday. Addressing the valedictory session of the council after a meeting that lasted for almost seven hours, the governor expressed his appreciation to council members for offering themselves for the service of the state at a crucial period like this. “I want to express my profound gratitude to all of you. I appreciate your commitment to the service of our dear state. You all have contributed immensely to the social contract we had with our people four years ago. The modest actualisation of the “Restoration Agenda” was a product of our collective efforts.

Buhari Submits Assets Declaration Forms Omololu Ogunmade in Abuja President Muhammadu Buhari last night submitted his assets declaration forms to the Code of Conduct Bureau, (CCB). The president, according to his media aide, Malam Garba Shehu, submitted the forms in compliance with provisions of

the Constitution of the Federal Republic of Nigeria that their submission must precede oath-taking. Buhari will be sworn in today for a second term in office. According to the statement, the duly completed forms were submitted to the Chairman of the CCB, Professor Mohammed

Isa, on behalf of the President by Sarki Abba, his Senior Special Assistant on Household and Domestic Affairs. The statement also said the forms, as signed by the president and sworn to before a Judge of Abuja High Court, showed no significant changes in assets as declared in 2015 by him.

“There are no new houses, no new bank accounts at home and abroad and there are no new shares acquired. “The Chairman of the CCB commended the President for leading by example by declaring his assets in accordance ith the law,” the statement added.

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Malami: We Recovered N59bn, $779m in Four Years Alex Enumah in Abuja The outgoing Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, yesterday disclosed that his ministry during his tenure recovered a total sum of N59.16 billion and $779.495 million across board. Malami made the disclosure while speaking at a valedictory session and handover ceremony

in Abuja. He said during his tenure, Asset Recovery and Management Unit, was established to coordinate relevant stakeholders to put in place policies and mechanisms for effective and efficient assets recovery and management in the country. “The AGF was granted mandate pursuant to directive of Council, vide approval in

EC (2017) 232 on November 1, 2017 to sign on behalf of the federal government, a Tripartite Agreement with the Swiss Federal Council and World Bank for the repatriation of $321million Abacha loot. “During the maiden Global Forum on Asset Recovery in Washington DC, USA in December 2017, the AGF signed the said agreement. The funds have since been

received by the government and currently deposited with the Central Bank of Nigeria,” he said. Malami, while making his last speech as Minister of Justice, added that “the commercial bank in the UK recently ordered a pay out of the sum of over $73 million, with interest to the Nigerian government being part of the proceeds from sale of

OPL 245 by Malabu Oil and Gas Company to Eni/Shell. The said sum has also been received and deposited with the Central Bank”. “The office of the Attorney General of the Federation has recovered the sums of N59, 163, 029, 949. 46 and $385, 495, 900.00 locally. “The total sums recovered by the ministry during the reporting period are $779, 495,

900. 00 and N59, 163, 029, 949. 46,” he explained. Malami, who said the ministry during the period of review developed a constructive protocol for collaboration with anti- corruption agencies, added that there was an increased international cooperation and collaboration with countries such as the UK, USA, Switzerland, France, and Italy, among other nations.

Ohanaeze Insists on Restructuring as Only Option out of Woes Amby Uneze in Owerri The President General of the apex Igbo socio political and cultural organisation, the Ohanaeze Ndigbo, Chief John Nnia Nwodo, has reiterated that the only option left to take Nigeria off her myriads of woes is to restructure the country and operate a true federal system. Nwodo said that he is “convinced that there is only one way out - a return to a federal system of government in accordance with the agreement reached by our forefathers between 1944 to 1963” The Ohanaeze boss said that the argument for restructuring as a solution is further strengthened by the fact that this present system has failed as the federal government can no longer sustain the country economically if this system continues. “Today, we are spending 69 per cent of our national revenue to service our loans annually without retiring the principal, today, we have 12 million youths out of employment, the quality of our education is failing drastically due to lack of teaching aids and qualified personnel, the security of life and property has never been as inadequate and unreliable as it is today” Nwodo whose views were contained in a well-researched paper titled “The problems confronting governance in today’s Nigeria, the Imo challenge,” which he delivered at the inauguration lecture of the in-coming Governor of Imo State, Hon. Emeka Ihedioha, warned of the consequences of the continued treatment of Ndigbo as conquered people. “So long as the Nigeria

federation continues to run as a unitary system of government imposed by the military, which treats the South-east as a conquered minority and denies it access to regional selfgovernment and direct control of its natural resources, so long will the agitation for separatism continue in the East,” Nwodoh warned. He painted the pathetic picture of the South-east region saying, “Given the inability of young graduates of South-east extraction to get employment in government agencies and top private sector establishments controlled by non- Igbos, the South-east has become a breeding ground for revolutionaries” Nwodo whose lecture was attended by leaders of the South-east and South-south geo- political zones of the country including the National Chairman of the main opposition Peoples Democratic Party (PDP), Prince Uche Secondus, former governors, former ministers, Bishops and traditional rulers, called out those deriding Igbos on the issues of Nigeria’s presidency. According him, “For those who deride Igbos everyday in our newspapers and say we can never be president on account of our voting, we don’t want to be president in a skewed and unjust federation” He noted that the events of the last election have even shown that clearly unless through rigging, nobody can be President of Nigeria without Igbo votes. “We have demonstrated that unless you rig, Igbo votes will determine who will be president; they now know that our votes are sizeable.

SHOW OF APPRECIATION…

Outgoing Governor of Ogun State, Senator Ibikunle Amosun (left), and his wife, Olufunso, acknowledging cheers from mammoth crowd in Abeokuta...yesterday

Two Medical Doctors Arraigned for Endangering Patient’s Life Davidson Iriekpen Lagos State Government yesterday arraigned two medical doctors, a husband and wife, before state High Court sitting in Igbosere for allegedly endangering the life of a 16-year-old patient. The Medical Director of Excel Medical Centre Dolphin Estate, Ikoyi, Lagos, Dr. Ejike Ferdinand Orji and his wife, Dr. Ifeayinwa Grace Orji, were charged on a three-count charge of causing grievous harm, recklessness and negligence.

Chineme Okafor and Kasim Sumaina in Abuja

Life coach and proprietor of Lekki British School, Dr. Biodun Laja is dead. She reportedly died last Sunday while recuperating from an undisclosed procedure in the United States. A source close to the family confirmed that she observed her mandatory praise and worship with some of her friends and a few pastors two weeks before her demise. In a recent interview with THISDAY, the late Laja said one of the habits she cultivated was to stay at home every Wednesday to pray: “I don’t go to school on Wednesdays because I have dedicated the day to fellowship in my house. I just have to give a day out of the five working days to fellowship.” One of her favourite quotes culled from her last interview was: “In everything when God is in it,

The federal government yesterday disclosed that it will in the next four weeks unveil successful bidders among the 240 Statement of Qualification (SOQ) it received from firms willing to end the longstanding practice of gas flare in the country by 2020 through the Nigerian Gas Flare Commercialisation Programme (NGFCP). This development is coming as no fewer than 223 companies have indicated interest in the bid for the Nigerian National Petroleum Corporation (NNPC)’s natural gas liquids (NGLs) for 2019 to 2021 The Ministry of Petroleum Resources said yesterday in Abuja that the government was determined to end the notorious practice of flaring gas next year. A World Bank programme –

Biodun Laja

prison custody pending their trial. However, counsel to the defendants, Mr. KC Okho, told the court that he had a bail application and that the prosecutor had been served. He appealed to the court to allow him move same. After arguments on the bail application and the prosecution’s opposition, Justice Akintoye granted bail to the two accused persons in the sum of N500,000 with two sureties The judge further ruled that the sureties must be persons gainfully employed with evidence

of three years tax payment to the Lagos State Government. He also held that the residential, as well as the office addresses of the sureties must be verified by the court Deputy Registrar Admin and approval given by same. While releasing the accused to their lawyer, Justice Akintoye gave the accused up till Monday, June 3, to perfect their bail conditions else they would be remanded in prison custody. Justice Akintoye adjourned the matter till Monday, 3 June for further direction.

FG Set to Unveil Bidders of Gas Flare Commercialisation

Founder of Lekki British School, Biodun Laja, is Dead it will succeed. So, it is hard work first, and then, total dependence on God for his direction. This has been a source of power for me. When you can hear what God is saying per time, you can hardly miss the mark.” Details of her burial arrangement will be announced by the family

When the case came up for arraignment, the prosecutor, Babatunde Sunmonu, told Justice Adedayo Akintoye that he had a three-count charge against the defendants and prayed the court that the charges be read to them so that they can take their plea. Consequently, the trial judge granted his prayer and the charge was read to the defendants who both pleaded not guilty to the charge. Following their not guilty plea, the prosecutor asked the court for a trial date and that the defendants be remanded in

223 companies bid for NNPC’s natural gas liquids the Global Gas Flaring Reduction Partnership (GGFR), places Nigeria as the sixth largest gas flaring nation in the world after countries like Russia; Iran; Iraq; United States; and Algeria. Available data from the GGFR indicated Nigeria flared 7.6 billion cubic meters (bcm) of natural gas in 2017. But in a statement issued yesterday by the Chairman of the Ministerial Steering Committee of the NGFCP, Mr. Rabiu Suleiman, the 240 SOQs received by the committee in response to the Request for Qualification (RfQ) for the programme would be competitively evaluated and the preferred bidders announced in June. He further explained that companies adjudged successful would be invited to submit their proposal for flare gas utilisation through the Request for Proposals (RfP) phase of the NGFCP.

According to him, the plan to drastically reduce gas flaring by harnessing otherwise flared gases to stimulate economic growth would drive investments and provide jobs in the Niger Delta through the utilisation of widely available innovative technologies. He listed some benefits that could come with the NGFCP, saying it will: “Maximise utilisation of associated gas to be treated for supply to power generation or industry, and increase the gas flaring penalty to an appropriate level sufficient to de-incentivise the practice of gas flaring whilst introducing other measures to encourage efficient gas utilisation.” Meanwhile, no fewer than 223 companies have indicated interest for NNPC’s natural gas liquids (NGLs) for 2019 to 2021. The corporation opened the NGLs bid in Abuja yesterday, explaining that through a

transparent competitive bidding and evaluation process, it intended to enlist companies with proven investments in gas utilisation, storage, distribution and marketing infrastructure. Group Managing Director of NNPC, Dr. Maikanti Kacalla Baru, in his welcome address, stated that the occasion marked the beginning of yet another landmark event in the corporation’s bid to maximise the value of Nigeria’s natural gas liquid resources for the benefits of Nigerians and other stakeholders. Baru noted that as a corporation, “we have 223 companies competing and there are more local participants this time around. Our current pursuit is to continuously grow our domestic gas supply and utilisation while also maximising value from our unutilised knockoff condensates and Natural Gas Liquid resources.”

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N4bn Probe: Court Orders Arrest of Kano Emir’s Chief of Staff, Two Others Ibrahim Garba in Kano A Chief Magistrates’ Court in Kano yesterday ordered the arrest of three persons, including Mannir Sanusi, the Chief of Staff to the Emir of Kano, Muhammadu Sanusi II. The three were dragged before the court by the Kano State Public Complainant and Anti-corruption Commission for failing to honour its invitation in a N4 billion fraud investigation against the Emir of Kano. Chief Magistrate Mohammed Idris ordered the arrest of Sanusi, who

holds the traditional title of Damburan Kano; Mujitaba Abba; and the Accountant of Kano Emirate Council, Sani Muhammad-Kwaru, over their alleged refusal to honour the commission’s invitation. The commission wrote to the court seeking an order of arrest against the three palace officials. Idris consequently issued and signed the arrest warrant sequel to a motion by Salisu Tahir, Chief State counsel. Tahir had said that the request was based on the provision of Section 38 of the enabling Law establishing the

commission. The News Agency of Nigeria (NAN) recalled that the commission had invited four people in connection to

the allegation, of which only one person, Isa Bayero, alias Isa Pilot, who was a former scribe to the Emirate Council, honoured the invitation.

When contacted, the Chairman of the commission, Muhiyi Magaji, said the three persons that have an arrest warrant on their heads are the

principal suspects in the case. He said the commission had already requested security operatives to enforce the order and arrest the three persons.

Drug Trafficking: Singapore’s Appeal Court Acquits Nigerian after Two Years on Death Row A Nigerian man, Adili Chibuike Ejike, was on Monday cleared by Singapore’s Court of Appeal of drug trafficking charges after he had spent two years on death row. According to a Singaporean news website, Today, Adili had been on death row after he was sentenced to hang for importing almost two kilograms of methamphetamine. The Court of Appeal quashed the conviction after it arrived at the conclusion that Adili, did not know that the drugs were in his suitcase when he was instructed by childhood friends to hand it to someone else in Singapore.

It was reported that as Chief Justice Sundaresh Menon read out the judgment on Monday, on behalf of a panel of three judges, Adili buried his head in his hands and sobbed in relief. Speaking with Today, Adili said he was “grateful to the Singapore justice system”, and was looking forward to returning home as soon as possible. “All I want is to go back home and recover from the past years of my prison sentence, before I think about that,” he said, when asked about his plans after he returns to Nigeria. Adili had been in remand since 2013.

Ekiti APC Suspends Ex-federal Lawmaker for Supporting Atiku Victor Ogunje in Ado Ekiti For allegedly supporting the Peoples Democratic Party (PDP) presidential candidate, Alhaji Abubakar Atiku, in the 2019 general election, the All Progressives Congress (APC) has suspended a former federal lawmaker, Hon. Bimbo Daramola, for anti-party activity. According to a letter addressed to Daramola and jointly signed by the chairman and secretary of Ire ward II, Dipo Bejide and Adeola Sefunmi respectively, the suspension order took effect from yesterday May 28, 2019, The party had on May 16, 2019, summoned Daramola through a letter signed by the Ward Chairman and Secretary, to grant him fair hearing on the matter. The APC said it took the action due to the failure of the party chieftain to submit and appear before the ward executive to clear himself of the allegations. It alleged that Daramola openly mobilised support for Atiku in the last presidential poll and that he instituted a court case against the party’s candidate, Hon. Peter Owolabi, during the National Assembly election, despite plea by the party. The APC said: “From the tone and style of your letter dated 20 May, it is apparent that you

are only interested in causing division and disunity in the party by raising mundane, rumoured and unsubstantiated allegation aimed at setting the members at each other. “To this effect and based on your reply, we wish to put forward to you, what the wards deem as your anti-party activities. “That on the eve of the 2019 election, you used your house to accommodate PDP thugs, those who eventually unleashed mayhem on members of our party (APC). “That on the eve of the election, you visited the palace of the Onire of Ire where you openly canvassed for the PDP presidential candidate, Alhaji Atiku Abubakar, whom you openly described as your mentor and benefactor. “That from your response in your letter, you failed to address any of the above listed anti-party activities, rather you exhibited pride and arrogance and went to the extent of asking if there were party primary in the ward at the last House of Representatives election. “In view of the above violation and based on the fact that you are not ready to submit yourself to constituted authority of the party, we wish to convey the decision of the party to suspend you indefinitely from the party”.

IMPROVING CUSTOMER SERVICE …

L-R: Chief Finance Officer, Emmanuel Otitolaiye; Executive Director, Technical, Okanlawon Adelagun; Managing Director/CEO, Daniel Braie; and General Manager, Marketing, Joyce Ojemudia, all of Linkage Assurance Plc, during the official inauguration of the company’s refurbished customer service centre at its corporate head office in Lagos...recently Abiodun Ajala

Panic Grips Ogun Community over Kingship Tussle Ugo Aliogo Panic seemed to have grip Emuren town in Sagamu Local Government Area of Ogun State over an alleged plan by a serving lawmaker in the state House of Assembly to impose his preferred candidate on the people of the town as the next monarch, two years after the last Oba died. It took the intervention of anti-riot policemen from the Federal Special Anti-Robbery Squad (SRAS), military

personnel, local vigilance group (Agbekoya) and other security operatives to dislodge miscreants, who were already stationed in many parts of the town for the nomination of the candidates on Tuesday. One of those who chatted with journalists at the meeting to choose the next monarch, was a top businessman, Otunba Segun Alowonle, was among the seven candidates nominated by the members of the Owuyo Ruling House, whose turn was to provide

the next monarch of the town. Also, the Secretary to the Sagamu Local Government Area, Wale Fakoya, had in a letter dated May 9 directed the Olori Ebi of the Owuyo Ruling House to convey a meeting of the leaders of the family to agree on a date for the nomination of candidates. Prior to the proper nomination of candidates recently, some groups of miscreants were seen stationed in some parts of the community.

At the meeting for the nomination, the Regent of the town, Chief Nasiru Taiwo, called on the state and local governments to allow the will of the people of the town and that of the kingmakers to prevail in the selection of the next monarch of the town. Taiwo, who is the Lisa of the town, also expressed surprise at the sudden rush by the Sagamu LGA to hurriedly install an Oba in the town after delaying the process for more than a year.

Olowo Stool: Traditional Prime Minister Declares Contest Open James Sowole in Akure

The Traditional Prime Minister and Head of Kingmakers of Owo Kingdom in Ondo State, Oba Koforola Oladoyinbo, yesterday declared opened the contest to fill the vacant post of the king of the ancient town. Oladoyinbo, who is the Ojomoluda of Ijebu Owo, declared opened the contest for the stool during a press briefing in his palace at Ijebu Owo. The selection process for the installation of a new monarch for the ancient town began following the end of rites for the

late monarch, Oba Folagbade Olateru-Olagbegi, who died on April 17, 2019. The head of the kingmakers emphasised that only those from the Elewuokun family can aspire to occupy the throne. Ojomo Luda also warned those who might want to interfere with the selection process to be very careful because those saddled with the responsibilities of selection are very experienced and incorruptible high chiefs. The traditional prime minister said the process would be handled in line with their custom and tradition.

According to him, “The process of selecting another Prince to wear the crown that Olowo Folagbade left behind is about to commence. The process, we pray, will be peaceful, enjoyable and interesting in accordance with the age long peaceful disposition of the people of this ancient town of the Yoruba people. “Contrary to the diverse views canvassed by people, both informed and uninformed, on the pages of newspapers and social and electronic media, our process is simple, clearly defined and not opened to

manipulation by any individual or group of individuals. It is not a political issue, and it’s being handled by experienced, responsible and incorruptible members of the Ogho Royal family. “The Elewuokun Family remains the umbrella body from which an Olowo will emerge, and any other opinions or conjecture remain those of whosoever is advocating them and are of no effect. “We are bound by the extant Declaration and Laws of Ondo State. We shall also seek the assistance of our spiritual fathers in accordance with normal practice.”

APC Leaving N250bn Debt, Bauchi Gov-elect Cries out Segun Awofadeji in Bauchi As Peoples Democratic Party (PDP) takes over the leadership of Bauchi State today, the party has lamented that the outgoing All Progressives Congress (APC)-led administration is leaving behind a debt of N250 billion as well as other liabilities yet to be verified.

The N250 billion debt profile left behind by the outgone administration of Governor Mohammed Abubakar included debt and loan, PDP said. The state Governor-elect, Bala Muhammad, who made the disclosure while receiving the report of the Senator Adamu Gumba-led Transition Committee yesterday

at the Command Guest House in Bauchi, declared that his administration would probe the outgoing APC administration in order to recover all the money belonging to the state but was misappropriated. The governor-elect, who could not hide his disappointment over the issue, also lamented that

the same administration which promulgated a law to recover misappropriated funds has at its twilight repealed same, declaring that his administration will follow every legal means and due process to recover misappropriated funds and other properties belonging to the state government.

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Suit to Stop Gbajabiamila from Contesting House Speaker Withdrawn Davidson Iriekpen With a few days to the election of a new Speaker of the House of Representatives, one Phillip Undie, has notified his lawyers to withdraw the suit he instituted to stop the Majority Leader of the House, Hon. Femi Gbajabiamila, from contesting for the office. Undie has sent a letter of authorisation to his counsel, Ayodele Temitope Justice, to file a withdrawal notice in court. The counsel, who confirmed on the telephone that he got the notice of withdrawal from his client, was however silent on the next step. In a May 27, 2019 letter, “authorisation to file my withdrawal as plaintiff from suit number: FHC/ABJ/ CS/539/2019, the plaintiff said he has got fresh facts confirming that Gbajabiamila was cleared of no criminal conviction by the Office of the General Counsel of the State of Georgia Bar. His letter to the counsel read: “I am writing to notify you of my intention to withdraw from the above referenced

legal suit wherein I sought for the disqualification of the 1st defendant from contesting the officer of the Speaker of the House of Representatives. “It is important that I honourably discontinue the suit following the emergence of more facts indicating that the 1st defendant, Hon. Femi Gbajabiamila, was cleared of no criminal conviction in the state of Georgia or any other part of the United States of America in a letter dated August 30, 2010. “I am also in possession of an order of the Federal High Court in Abuja dated May 22, 2018, delivered by Justice Abdu-Kafarati in favour of Gbajabiamila. Kindly avail me details of my legal fees in accordance with our earlier agreement. Accept my warm regards.” In a follow-up statement, Undie said the Chief Judge of the Federal High Court, Justice Adamu Abdu-Kafarati, had decided a similar case in favour of Gbajabiamila on May 22, 2018. The statement said: “I, Philip Undie, a Nigerian taxpayer who

filed a legal suit against Femi Gbajabiamila in suit number FHC/ABJ/CS/539/2019 at the Federal High Court, Abuja on the day of May 2019. “The suit was filed in my innocent belief that the first defendant, Gbajabiamila ought not to be allowed to contest

for the position of Speaker of the House of Representatives based on information then at my disposal that he had been criminally convicted by the Supreme Court of the State of Georgia, United States of America. “Since the matter was filed at the Federal High Court, Abuja,

I have come in possession of more facts on the alleged criminal conviction, which shows beyond all doubt that the basis of the suit is found on misinformation and misrepresentation of facts. “One of the documents I now have is a letter dated as far back as August 30, 2010 issued by the

State Bar of Georgia, the body involved in this matter and which regulates legal practice in Georgia, United States of America, indicating that the 1st defendant, Femi Gbajabiamila, has no record of criminal conviction in the State of Georgia or any other part of America.

2023: Amaechi Berates Obi, Says Igbo’ll Not Get Presidency FG to deploy $195m maritime security equipment Eromosele Abiodun The Minister of Transportation, Mr. Rotimi Amaechi yesterday in Lagos berated the vice presidential candidate of the Peoples Democratic Party (PDP) in the 2019 election, Mr. Peter Obi over Obi, for his response to his (Amaechi) comment on Igbo quest for the presidency in 2023. Speaking at a meeting with maritime stakeholders, Amaechi stated that as someone who has been in politics for a long time he understands that a region must play national politics to make a claim to the presidency. According to him, “You can’t just come and say give us the presidency; you don’t want to fight for it, you just want us to wake up and say, ‘wake up from sleep take it.’ It does not work like that and it will not work like that; it will not. And let Peter Obi close his mouth because he lost an election; I won an election. He can’t talk; we won, that is why President Buhari will be sworn in tomorrow (today) and not Atiku. If you ask my son now, ‘what is in the history of Nigeria? He will say President Buhari won in 2015 when it was almost impossible - led by me and Peter Obi was on the other side. In 2019, the Peoples Democratic Party (PDP) thought it was almost impossible; we also won again. What is Peter Obi’s anger now? Beg him to leave me alone; let’s face more important things.” Addressing maritime stakeholders, he assured them that insecurity in Nigeria’s waters will be a thing of the past when the $195 million maritime security approved by President Muhammadu Buhari is fully deployed.

Specifically, he said, “I am here to tell you how far we have gone with the $195 million maritime security contract that the president and the Federal Executive Council (FEC) approved for the nation’s maritime security. You are aware that the situation is very bad now; the maritime sector in terms of security the president is aware of it, but what we showed to the stakeholders is that the equipment we need to combat this threat in the maritime sector is not off-the-shelf equipment. We are buying two helicopters, two planes, three vessels that you can almost call like a war vessel but it is not, 19 interceptors, which is fast speed boats that has the capacity to go to the delta. “Part of the problem we have is that most of the vessels we have can’t go through the creeks because of how shallow the water is. What we are buying can go through the creeks. We have shown the stakeholders and deployment will start in June this year; the impact of that deployment we cannot explain because not all the equipment are in place but we will start in June to see how we can stop these criminals from converting our waters into a theatre of war. We think that between June and first quarter of 2020, we would have completed deployment, then you can hold us responsible for any crime that takes place in the water. At that point we would have finished training of our personnel led by the Nigerian Navy because the equipment will be manned by the navy. The Army, police, air force, DSS and NIMASA are also involved in the effort to rid our waters of criminals. “

HERE’S OUR SCORECARD…

Chairman, Edo State Civil Service Commission, Mrs. Ekiuwa Inneh (left), presenting the 2018 annual report of the commission to Governor Godwin Obaseki, at the Government House, in Benin City…yesterday

Afe Babalola Insists on Restructuring of Nigeria Martins Ifijeh As another political dispensation starts today in Nigeria, the Founder and Chancellor, Afe Babalola University, Afe Babalola (SAN), has called on President Muhammadu Buhari to restructure the country and revert to true federalism. In a statement made available to THISDAY yesterday, Babalola, who has consistently called for restructuring, said if this is done, the country’s problem will be a thing of the past and its lost glory will be restored. He said: “I want President Buhari to adopt the biblical injunction to first seek the kingdom of God and its righteousness and all other things will follow. He should seek restructuring of the constitution and our problems will evaporate.” Comparing the country’s

past with the current situation, and explaining why he believes restructuring is the only way out, he said: “Our naira was stronger than the dollar. At some point in the past, it was 95 kobo to a dollar, but now it is N365 to $1. Begging was an abomination, but now it is the order of the day. Go to any ceremony whether in the church, the mosque or any social gathering, they are there in quantum plying their trade. “Life was safe on the road, in the house and on the farm, but now, insecurity is a recurring decimal in the country. Farming was then the mainstay of the economy, but now it has been abandoned. Unemployment was unknown, but now most of the graduates churned out by the country’s tertiary institutions are largely unemployed as a result of which many of them have become okada riders,” he said.

He also explained that decades ago, food was in abundance, but that importation of food has taken over, adding that kidnapping and armed robbery only existed in the dictionary back then, but that they were now becoming stark and worrisome realities. The senior lawyer said cattle rearers were once friendly and were only using sticks to control their animals, but that they are now armed with sophisticated weapons like AK 47. “Political office holders at all levels earned only sitting allowances, but now, politics has become the only lucrative business in town. Our university degrees were respected all over the world, now they are derided and despised by many of the blue-chip companies which prefer employing overseastrained graduates. “Local government councils

were effective as they had enough funds to run their affairs, now the funds that trickle from the governors can barely pay salaries of local government workers. The first republic was the golden era characterised by prosperity. That was when late Chief Obafemi Awolowo, a transformational leader was the Premier of Western Region and led the way with the transformational agenda while other regions followed suit,” he explained, He said at the time, Nigeria grew in leaps and bounds, “but for coup of January 15, 1966, Western Region and indeed the whole country would have caught up with England and other countries in Europe. It was the constitution foisted on us by the military that derailed the development and became the harbinger of all the ills listed above,” he added.

2019 Budget: Nigerians Should Expect Brighter Future, Says Udoma Iyobosa Uwugiaren in Abuja The Minister of Budget and National Planning, Senator Udoma Udo Udoma, at the 2019 budget breakdown session in Abuja yesterday told Nigerians to be hopeful of a brighter future as the seeds of development planted in the last four years are germinating and soon will be bearing fruits. While acknowledging the patience of Nigerians and the contributions of critical stakeholders like the National Assembly, the media and other partners, to the development efforts of government, Udoma

explained that an economy usually take some time to build up momentum after a period of recession. He added that all indices point to the direction of positive growth and the dividends will soon manifest with greater impact as government continues to faithfully implement the provisions of the Economic Recovery and Growth Plan (ERGP), which underpins government’s economic recovery actions. Udoma pointed to the fact that already the macro-economy has remained largely stable and growth has increased from 0.82

per cent in 2017 to 1.93 per cent in 2018 and 3.01 per cent is expected in 2019, with the continuing implementation of the ERGP. “Real GDP increased from 1.89 per cent in Q1 of 2018 to 2.01per cent in the first quarter of 2019 - the strongest first quarter growth since 2015; Significant growth has been recorded in the non-oil sector: 2.47 per cent growth in Q1 2019, up from 0.76 per cent in Q1 2018 and diversification efforts have continued as contribution of the non-oil sector to GDP increased from 90.4 per cent in Q1 2018 to

90.9 per cent in Q1 2019”, the minister stated. Udoma claimed that a lot has been done by the Buhari’s administration in the first four years, adding that the second term will be focused on building on the initiatives and development efforts already put in place. According to him, “The 2019 budget is designed to further reposition the economy on the path of higher, inclusive, diversified and sustainable growth; and to continue to lift significant numbers of our citizens out of poverty”.

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Ambode: Our Policies Lifted More People from Poverty Hands over formally to Sanwo-Olu Gboyega Akinsanmi In an emotion-laden farewell state broadcast yesterday, outgoing Lagos State Governor,

Mr. Akinwunmi Ambode explained the driving force behind the decision, policies and programmes of his administration, saying they

UNREST IN APC, SHUAIBU CALLS FOR OSHIOMHOLE’S RESIGNATION “It is my honest opinion that your ability to ensure this party flourishes is deficient as you lack the necessary composure and you also don’t possess the capabilities and the requisite experience to run a political party.� He said the respect APC was commanding among its members and sympathisers had been eroded, while the goodwill it had equally evaporated due to Oshiomhole’s leadership style. “As I know, the relationship between party and government are cooperation and collaboration to ensure government programmes are implemented in line with the party manifesto, but not shouting and giving marching instructions to government officials on television screens or on the pages of newspapers. “And more often than not, they call your bluff and make look helplessly unimportant in the scheme of things,� he said. Lawan blamed Oshiomhole for employing faulty processes in handling party affairs. He said due to Oshiomhole’s tactless outbursts, APC is now faced with a situation where its senators would have to court the Peoples Democratic Party (PDP) senators to win the Senate presidency. “We had 23 states in 2015, but after the 2019 elections, we lost seven states. We also had 60 senators in 2015 at the end of the election count, we now ended up with 57 senators in 2019! You were not brought in to lose election. It is absolutely unacceptable! “What this entails is that for any senator to become a presiding officer, he needs to go and kneel down before the PDP senators and beg for support! And to make things worse, you announced that APC will not allow any PDP senator to be appointed as committee chairman except the committees statutorily meant for the opposition members of the Senate,� he added. He said the last congresses in states represented a complete lack of knowledge, and experience on how due process in political electoral process should be adhered to. On the problematic party QSJNBSJFT -BXBO TBJE UIF /8$ was expected to perform the duty of the final adjudicatory body on each electoral matter but that Oshiomhole usurped the powers of the screening committee. He said the appeal committee was expected to attend to complaints and petitions and also submit its report to the /8$ According to him, “If the national chairman should chair any of these committees, what if there is a complaint about his own conduct, who do you send your petition to? He cannot be

a judge in his own matter.� He faulted Oshiomhole’s style of operation whereby meetings of the APC were held in private residences, especially where it involves thousands of party men and women with grudges over injustice meted out to them by party officials. According to him, the party secretariat is the officially recognised venue of such meetings, unless if there are other motives for keeping away from there. He said an example of Oshiomhole’s unilateral act, was his overruling of the unanimous EFDJTJPO CZ /8$ UP BMMPX former Minister of Women Affairs, Mrs. Aisha Alhassan, to go and contest with her co-aspirants at the primaries in Taraba State. According to him, Oshiomhole single-handedly disqualified her and the numbers in the party were depleted and thereby weakened. He said Oshiomhole disqualified several other aspirants without just cause. “Arising from such conduct, the APC ended up with severe injuries and is today badly fractured in virtually every constituency in this country, resulting in the erosion of the massive goodwill that you met the party with. “Apart from the president, more than 60 percent of members, including those that contested elections under the APC in 2019, are not happy with the process as it left a lot to be desired. “We have court cases in every state, by far much more than it was in 2015 and I wonder how much money the party is likely to spend on litigations arising from mistakes of the national chairman in not adhering to due process and sidelining transparency,� he said. The deputy national chairman added that committee for primaries became secret affair to the extent that not even NFNCFST PG UIF /8$ XFSF aware of how certain committees were constituted. He also accused the party chair of dominating the membership of most committees with people from Edo State where Oshiomhole hails from. Group Defends Party Chairman Meanwhile, a group known as the Middle Belt Vanguard has warned Lawan not to incite disaffection in the party. In a statement jointly signed by the President of the group, Mr. Musa Ohimini Alechenu and Secretary, Meliga Godwin, the group demanded an apology from Lawan for calling for the resignation of the national chairman. It accused the party chief of arrogating to himself the power PG UIF /&$ CZ DBMMJOH GPS UIF resignation of Oshiomhole.

were executed to lift more people out of poverty. Shortly after he addressed the state, the outgoing governor equally presented his handover note to the incoming governor, Mr. Babajide Sanwo-Olu, privately alongside his deputy, Dr. Obafemi Hamzat at the State House, Alausa. But in his farewell broadcast that marked the end of his administration, Ambode noted that all the decisions, plans, programmes and policies of his administration in the last four years were taken “with the best interest of Lagos in mind and for common good of all residents of the state.� Contrary to a view that he deviated from the development blueprint of the state, Ambode said the driving force, with respect to programmes executed, lifted more people out of poverty and made every part of the state economically viable and liveable. He explained that the policies, programmes and projects indeed lifted “more of our people out of poverty and made every part of the state safe, accessible and economically viable were always the priority; the driving force

behind all our decisions and plans.� He, however, observed that a few of the policies might have been unpopular, but they were taken “with the best interest of our state in mind. With the benefit of hindsight, maybe we could have done some things differently but our intention was always clear, for the good of Lagos.� He, thus, commended the people for the constructive feedback to some of the policies of his administration, which according to him, helped to surmount challenges, saying it had been a remarkable journey to serve the state. He said, “As in the beginning when we visited every single corner of this state listening to you and asking for your votes, I have felt the power of your support, your collective energy and the endless goodwill that has propelled us to achieve many things.� He described Lagos as a place where dreams come true and a home for everyone, saying it was the duty of all residents to continue to ensure that the state remained the true centre of opportunities and growth

for all. “From being just a commercial centre, our state has now become a prime destination for tourism, sports, entertainment and culture. And the future is even brighter with more exciting prospects and possibilities. In the near future, with God on our side, Lagos will take its rightful place in the comity of major city-states of the world. “Fellow Lagosians, it has been a remarkable journey one in which we have pushed boundaries and moved our state to another level. It is a journey in which we have transformed many aspects of our state and set the ball rolling in other sectors. But there is still a lot more to be done. “But it is a job not for only the government; it is a responsibility for us all. In Lagos everyone counts and we all have a part to play,� he said. Just after the state farewell broadcast, the outgoing governor presented handover to Sanwo-olu, privately, ahead of the official inauguration scheduled to take place at the Tafawa Balewa Square today. After Ambode privately

handed over yesterday, SanwoOlu addressed journalists, disclosing that the conversation between them “is private and will remain like that.� “We have a very private handling over ceremony with the outgoing governor. We are happy with what he told us. We are excited with the conversation and thought we had with him. We are looking forward to the inauguration scheduled to hold today,� he said. He added that the conversation “centred on more advice and how his own thoughts were and what we should also be concerned with and whatever he has to offer.� Sanwo-Olu said he would not want to give further details on the conversation because the governor had demanded that the conversation be left private, disclosing that the governor demanded that the conversation be made private. He said, “We should respect that. We do not need to bother on making the conversation public because what we needed to work with are documents. We have the right documents to work with and we will take it up from there.

SIGNED AND DELIVERED‌

L-R: Executive Director, DLM Advisory Partners, Mr. Kennedy Ighodaro; Chairman, Primero Transport Services Limited, Senator Ademola Seriki; and Managing Director/CEO, Mr. Fols Tinubu, during the Signing Ceremony of the N16.50bn series 1 medium term note transaction under the 100bn securitisation programme in Lagos...yesterday KOLA OLASUPO

ETHICAL DILEMMA IN FINANCIAL INSTITUTIONS: WAY FORWARD r"DDVSBUF BDDPVOUJOH BOE record keeping If systems can be manipulated, then the basis of our profession is threatened, manual systems make bankers vulnerable and technology is the key to eliminating these weaknesses. r/FQPUJTN BOE TFMG EFBMJOH Conflicts of interest exist across our industry and have to be managed very carefully. Meritocracy and transparency are key to resolving potential conflicts. I firmly believe that if we are able to establish high minimum standards in these 5

areas and enforce their practise, the scales will be tilted more towards sound thinking and good decision making. Because business ethics are fundamentally, a reflection of the society in which we exist today, this paper will not be complete, without a brief comment on UIF /JHFSJBO FOWJSPONFOU within which we as bankers operate. Our current Hobbesian state of existence in which our nation is caught in an existential battle between good and evil, right and wrong, is not fertile ground for producing good leaders of sound thought and good decisions. Our political economy supports the notion that corners can be cut, that

fortunes can be made not because of hard work or value created but through the control of power and access to national assets. Ours is not a society that respects principles of finance, law and or science, the very basis upon which the banking profession is founded. So I ask, are the controls and systems that underpin banking ethics in other parts of the world TVGĂ DJFOU GPS VT IFSF JO /JHFSJB or do we need an even higher level of control? Do we need to take the view that the nature of the environment we are operating in, makes it even more important than we empower our bankers with greater wisdom and understanding to navigate

it? What kind of values and enlightened thinking does our situation require? How can we ensure that the ethical dilemmas we face at every level of the banking system are managed appropriately, by people empowered and capable of doing so? I believe that the Chartered Institute of Bankers must lead the way to find the right answers. Thank you for listening. t#FJOH B LFZOPUF BEESFTT EFMJWFSFE CZ "JH *NPVLIVFEF BU UIF FYUSBPSEJOBSZ GFMMPXTIJQ JOWFTUJUVSF PG UIF $IBSUFSFE *OTUJUVUF PG #BOLFST PG /JHFSJB JO -BHPT SFDFOUMZ

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

Europa Final: It’s Defining Verdict for Emery, Sarri in Baku Tonight The 6,000-mile round trip to Baku for the climax of the Europa League will deliver the defining verdict on their first seasons in charge for Arsenal Manager Unai Emery and his Chelsea counterpart Maurizio Sarri this evening. According to BBC, the final will shape how their campaigns are viewed - although for Italian Sarri there is no guarantee that even victory will see him handed a second season at Stamford Bridge. A major European trophy is at stake. Sarri’s job may be at stake. And Arsenal’s future is at stake, as they know only victory will lead them to the riches of the Champions League next season. So who does this confrontation in far-flung Azerbaijan mean most to - Unai Emery or Maurizio Sarri? The final may mean little more than a successful conclusion to a complex, contradictory season for the chain-smoking Italian, who arrived at Chelsea after his work at Napoli drew glowing references from the cream of the coaching crop, including Manchester City’s Pep Guardiola. It may yet rank as only something Sarri leaves for Chelsea to remember him by. Sarri’s season at Chelsea has been conducted against the backdrop of discontent among supporters who grew tired of his predictable substitutions. Those reached a low point in February when his go-to replacement of Mateo Kovacic with Ross Barkley (it was vice versa at various other points), was greeted with ironic laughter and chants of “you don’t know what you’re doing” from his own fans during the FA Cup fifth-round loss to Manchester United at Stamford Bridge. It came after a 4-0 defeat at Bournemouth and a 6-0 mauling by Manchester City and just before

goalkeeper Kepa Arrizabalaga’s open challenge to Sarri’s authority when he refused to be substituted in the Carabao Cup final before a penalty shootout which Chelsea. The much-vaunted ‘Sarri ball’, which was meant to be high-paced attacking football combining pressing and short, quick passing exchanges, has turned out to be largely tedious and relatively easy to rumble by teams of higher class. He has also alienated Chelsea fans by marginalising N’Golo Kante, regarded as the world’s finest holding midfielder, on the right of a three-man midfield to accommodate his favoured son Jorginho in the Frenchman’s favoured position. The big-money buy from Serie A is simply not in Kante’s class as that sort of operator. Sarri’s use (or lack of use) of precocious teenager Callum Hudson-Odoi was also an issue, with England manager Gareth Southgate seeming to show more belief in his talents. As a result of this lack of game time, it seemed this outstanding young winger was determined to leave the club. A serious Achilles tendon injury has put a stop to that for now. Their win percentage in the Premier League was 55.3% from 38 games, with exactly the same number of wins, 21, as Emery. The overall ratio was a highly respectable 61.3% from 62 games so far. Sarri’s problems, however, have extended beyond the field of play. There has been no connection between him and Chelsea’s fans, with not even the presence of Stamford Bridge legend Gianfranco Zola helping form a bond. And yet, if he wins in Baku, Sarri may be able to present a strong case to Chelsea owner Roman Abramovich that he

MILO B’BALL

Cross River, Ebonyi, Rivers Dominate Eastern Conference Reinhold International Secondary School Abiriba, Abia State was in scintillating form when it defeated Queens College Enugu 18-9, in the opening match of the Eastern Conference of the ongoing Nestle Milo Secondary Schools Basketball Championship which dunked off at the Indoor Sports Hall of the Nnamdi Azikiwe Stadium, Enugu last weekend. The match took off in a frenzy but the Abia State representatives soon took over the initiative with their playmaker Favour Orji shouldering most of the task. In the second match, Holy Rosary International School Owerri squared against the Twelve Apostles College, Ndiaborishagu, Abakaliki, Ebonyi State. The tie was a demonstration of grit and tenacity on the part of the Ebonyi State team. Their counterparts from Owerri led throughout the first quarter, but the girls from Abakaliki fought back and tied the scores at 9-9 mid way into the second quarter from where they took the lead and finished the match 21-11. In the boys’ category, Bayelsa State represented by BDGS

outscored their Imo state counterparts 22-14. But coach Tony Nelson said he was not happy in victory. “I don’t think we played better than the Imo team. They were clearly the better side but we won through our technical superiority,” the youthful coach said. “It was a very tough match. They came out to play but the technical bench failed to notice that their most dangerous man had committed enough offenses that saw him sent off. The moment he was out of the way, we had a leeway and that gave us the victory,” Nelson recalled. In other results, Cross River State boys defeated their Enugu State counterparts 36-23, while their (CRS) girls saw off Akwa Ibom 0-9. Rivers State girls saw off Anambra 25-6 in another one-sided match Edison Sofate Beauty of Rivers State who played so well noted that the Anambra representatives were not playing like a side determined to achieve a result. “Their minds were not in the game. I believe they could have done better if they concentrated on the game.”

has actually fulfilled his remit and deserves to build on the last 12 months. If a crystal ball of Sarri’s season in August had predicted a thirdplaced finish, the League Cup final only being lost on penalties

to the team that completed the domestic clean sweep and an appearance in a major European final, surely this would have been deemed acceptable? If he had achieved this at other clubs there would be talk of a

contract extension, not of a parting of the ways. Chelsea finished fifth under Antonio Conte last season and although the FA Cup was won, his relationship with the club’s hierarchy had fractured.

Would anyone else have done any better this season? No-one marked Chelsea down as serious title contenders but they finished above Tottenham and behind two of the outstanding Premier League teams in recent memory.

Who wins the Battle of Baku tonight? Chelsea or Arsenal?

SUPER SIX PLAYOFF

Enyimba, Rangers in Oriental Derby Opening Clash DuroIkhazuagbe The draws of the 2018/19 Nigeria Professional Football League (NPFL) playoff has thrown up mouthwatering fixtures as two of the best teams from the South-eastern part of the country, Enyimba and Rangers International FC will kick off the championship on June 4 at the Agege Stadium in Lagos. 2015 champions Enyimba and 2016 winners Rangers were the first names out of the pot during a mini draw ceremony for the season-ending championship held at the Head Office of the League Management Company (LMC), Osun Crescent, Maitama in Abuja yesterday afternoon. The Flying Antelopes were the top team of the Group A standing with 40 points from 22 matches

to pick the first slot to the playoff to determine the champion of the season. The People’s Elephant on the other hand finished third on 33 points behind Lobi Stars to also qualify. Kick off is 3pm. According to the full fixtures released by the LMC, former champions, Kano Pillars and Akwa United will also do battle in the second game of the opening day at 5pm. Champions Lobi Stars will also take on FC IfeanyiUbah on the opening day of the playoffs in the quest for a back-to-back feat. All the six teams for the playoff namely; Enyimba, Rangers, Lobi, Kano Pillars, FC IfeanyiUbah and Akwa United are to play a round robin clashes with each other in the five match-days at the Soccer Temple. Sadly, MFM FC, who plays

its home matches at that ground missed out of the playoffs on the final Match-day 22 of the abridged season away to Sunshine Stars in Akure. The top two teams in the NPFL Super Six championship will represent the country in the CAF Champions League next year, with the third placed team going on to feature in the CAF Confederation Cup.

FULL FIXTURES

MATCH-DAY 1 (June 4, 2019) Enyimba v Rangers – 3pm K’Pillars v Akwa Utd – 5pm IfeanyiUbah v Lobi – 7pm MATCH-DAY 2 (June 6, 2019) Akwa Utd v IfeanyiUbah – 3pm

Rangers K’ Pillars

v Lobi Stars – 5pm v Enyimba – 7pm

MATCH-DAY 3 (June 8, 2019) K’Pillars v IfeanyiUbah – 3pm Lobi Stars v Enyimba – 5pm Akwa Utd v Rangers – 7pm MATCH-DAY 4 (June 10, 2019) Rangers v K’ Pillars – 3pm Akwa Utd v Lobi Stars – 5pm Enyimba v IfeanyiUbah – 7pm MATCH-DAY 5 (June 12, 2019) IfeanyiUbah v Rangers – 3pm Enyimba v Akwa Utd – 5pm Lobi Stars v K’Pillars – 7pm

Alleged Fraud: NFF President Pinnick, Others Shun Court Case adjourned till July 1 The President of the Nigeria Football Federation (NFF), Amaju Pinnick and four other senior officials of the federation were absent at the Federal High Court, Abuja yesterday at the first mention of the charge brought against them over an allegation of misappropriation of $8,400, 000 and N4billion belonging to the football body. The Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) had, earlier this month, filed a 17-count charge, marked, FHC/ABJ/CR/93/2019 against Pinnick and others, claiming among others that the money formed part of what was paid by the Fédération Internationale de Football Association (FIFA) to the NFF as appearance fees

in the group stage of the Russia 2018 World Cup. Named with Pinnick, in the charge, are NFF General Secretary, Sanusi Mohammed; the 1st VicePresident, Seyi Akinwunmi; the 2nd Vice-President, Shehu Dikko, and an Executive Committee Member, Yusuf Fresh. The NFF described the allegations as “frivolous and totally baseless” the charges filed against its president, Amaju Pinnick, and four other members of the federation by the Special Presidential Investigation Panel for the Recovery of Public Property led by Mr Okoi Obono-Obla. Chairman, NFF Media and Publicity Committee, the NFF, Dr Yahaya Kwade, had in a statement said the charges were only aimed at scandalising the

leadership of the football body. “We (NFF) wish to state categorically that the charges filed by SPIP are frivolous and totally baseless. They are aimed only at scandalising the NFF and its leadership and nothing more, in order to mislead the unwary and uninformed. This is evident from the great facility with which the news of the charges, which were registered at the court’s registry May 7, 2019, was widely disseminated by SPIP and its collaborators. “For instance, SPIP alleges that the leadership of the NFF moved N4bn from the NFF on November 3, 2018. The maliciousness and falsity of this charge is established by the fact that the alleged sum is about four times the 2018 NFF Appropriation in the FGN budget

as approved by the National Assembly, which in total was N1.14bn, out of which only about N700m was cash-backed for the entire 2018 financial year.” When the case was called yesterday, the defendants were not in court. Lawyer to SPIP, Celcius Ukpong said the prosecution was unable to effect personal service on the defendants and applied for leave to serve through substituted means. Ukpong said: “We have not been able to serve the defendants with the copies of the charges. Justice Ijeoma Ojukwu granted Ukpong’s application for substituted service and adjourned till July 1 this year for arraignment.

Wednesday May 29, 2019

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MISSILE

Obi to Amaechi

“Amaechi is not from the South-east, so he cannot speak for us. He is not in any position to make such statements because even him that is in APC, he did not contribute anything to the success of that election. He did not even achieve anything in his own state. Those of us from the South-east who are from the PDP contributed to the success of our party” – The PDP vice presidential candidate, Mr. Peter Obi, querying the competence of the Minister of Transportation, Chibuike Amaechi, to decide which geo-political zone will produce the president in 2023.

AIGBOJEAIG-IMOUKHUEDE GUEST COLUMNIST

Ethical Dilemma in Financial Institutions: Way Forward

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ood evening distinguished ladies and gentlemen. It is my pleasure to deliver the keynote address on the occasion of the Extraordinary Fellowship Investiture of The Chartered Institute of Bankers. Today I will be sharing my thoughts on the topic: ‘Ethical Dilemma in Financial Institutions: The Way Forward,’ a topic for discussion which is timely and important for the continued growth and development of Nigeria’s banking sector. In the interest of time, I will focus on the subject matter as it pertains to the banking profession, to which I belong. Indeed, as I thought through the direction and structure for this paper, I found myself facing a dilemma regarding whether or not I should use my personal life experiences to give practical expression to the concept of ethical dilemmas. I elected to stand on the side of learning at the expense of whatever discomfort comes with putting myself in issue. Given the seriousness of the subject matter and as a Fellow of the Chartered Institute of Bankers, I am duty bound to make whatever sacrifices are required for its growth and progress. Let us at this juncture adopt a common understanding of what an Ethical Dilemma is before we attempt to resolve them. Wikipedia describes an Ethical Dilemma as “a decision making problem between two possible moral imperatives, neither of which is unambiguously acceptable or preferable”. All of us should be clear at the outset that Ethical Dilemmas are not easily resolved; they are situations that are best described by the refrain “between a rock and a hard place”. Every human being will face Ethical Dilemmas at one time or the other and bankers are no exemption. They tend to put us in uncomfortable positions. A useful approach to take in resolving dilemmas is to establish two opposite positions at either extreme of the issue at hand; between these positions lies the terrain, which must be navigated by the individual to reach their point of comfort. By way of illustration, let us examine an ethical dilemma in the legal profession. The Dilemma in this case lies in the moral, or ethical basis for a lawyer to defend a client who they know is guilty of the offence. The Dilemma is that on one side a lawyer is expected to represent their client to the very best of their ability, thus affording the client the right to fair hearing. On the other hand, should a guilty person be given the opportunity to avoid justice? One extreme position is represented by the British writer and barrister, John Mortimer whose famous character Rumpole stated. ‘The most common question I am asked; is how you can defend a client when you know he is guilty. Well the answer is, of course, that you do not. Once he tells you that he did the deed, you have to advise him to plead guilty, admit all and accept the consequences. If he refused to agree then you must leave him to his own devices’. While clearly an extreme representation of the position, it clearly illustrates the school of thought that says ‘it is immoral to try and secure the acquittal of someone that you know to be guilty’. This contradicts the legal principle that all accused persons are guaranteed the right to a defence, and puts the onus on the prosecution to prove an allegation, rather than the accused to admit it. The philosophical position is that you must seek to “err on the

CBN Governor, Godwin Emefiele side of good.” A contrary position comes from a philosopher we all know well, Niccolò Machiavelli, who says that ‘it is the result that renders the verdict’ which we can interpret simply as ‘if you win you are right, and if you lose, you are wrong’. Niccolò Machiavelli is taking the position that the ethics of the situation are driven by the outcome, not the morality. In between these two positions lies a range of possible positions between the two extremes. The central conclusion that I draw from this is that each individual navigates ethical dilemmas based on their personal moral compass. The strength of your beliefs and your values determine how you handle matters within your orbit. It is why ethical dilemmas create such debate, because your response to them is a function of the ethical stream that you drink from. Ordinarily, human beings face ethical dilemmas in all aspects of life. The roles they play and societal expectations influence to a great extent the nature and context of their dilemmas. A father faces different dilemmas from a mother; just as “a medical doctor faces different dilemmas from a banker”. Unfortunately, in our country the role of banker has grown beyond its traditional function of paying due regard to the interest of customer and managing their finances to include a number of other functions such as media celebrity, politician, patriarch, philanthropist, religious leader etc. This complex mosaic of functions that is added to the “Cloak of Banking” sometimes pits the Nigerian banker against their professional ethics in ways that require the wisdom of Aristotle and leadership qualities of Winston Churchill to be well resolved. The Nigerian banker whether Branch Manager or Managing Director is elevated to this special composite role in society carrying privileges and responsibilities that go way beyond what is par for the course of the banking professional. As a result, the Nigerian banker finds it difficult to resolve ethical dilemmas within the context of the principles and ethics of their profession. Flowing from the pressure and expectations of their elevated role of celebrity, patriarch, politician, etc. how does the banker resolve dilemmas where the imperatives of their core function is pitied against the interest of political friends, religious doctrine, family interests or societal beliefs. A banking professional shared this anecdote with me, she stated that there are moments

when she receives a phone call from her office reception that there are certain visitors from a Law Enforcement Agency at the reception who wish to see her and although she knows that neither she nor her institution has committed a crime, her stomach climbs up to her chest at the thought of the many dilemmas she may face as a result of the visit of these law officers. It had nothing to do with being guilty; it has everything to do with how to cope with the discomfort of knowing that your role as a banker is going to put you on a head-on collision with societal expectations. A well-researched example of ethical dilemmas in finance is President Lyndon Johnson’s ‘War against Poverty’. In the 1960’s the United States “war on poverty” was launched by President Lyndon Johnson. A grand plan which, both politically expedient, and well intentioned, sought to re-distribute wealth in a way that would make society fairer and more equitable. One of its many initiatives involved giving away money to the poorest Americans by way of cash handouts. The challenge was the moral hazard associated with cash handouts, which became a disincentive for people to work and exercise their entrepreneurial talents with negative consequences for the US economy. As a Banker, what do you do? As a banker, you cannot always agree with the policies and actions taken by politicians; that is just common sense. But can the Nigerian banker handle dilemmas like other Banking professionals all over the world given the multiple roles they play? You have to develop a strong moral compass to deal with ethical dilemmas. I recall when Nigeria’s Power Sector Privatisation Programme commenced in 2013; I was then a member of the National Economic Team and Chairman of the Bankers Committee Sub-Committee on Economic Planning. The federal government expected the Banking sector to support this program by financing the acquisition of privatised assets. Whilst I agreed with the move towards market liberalisation and that government should exit from the business of power supply, I disagreed with the approach to privatisation. I was of the opinion that the approach adopted would expose the Nigerian banking industry to large scale loan delinquencies putting depositors and shareholders at risk. I made my position known to the federal government, the Bankers’ Committee and other stakeholders and ensured that Access Bank did not provide financing for the privatisation transactions. Clearly, this position put me at odds with policy makers, asset acquirers and the political class. This is where the strength of your moral compass becomes essential. I remain convinced that anything less than a fully functional electricity power sector run by technically and financially strong operators will result in a bankrupt and unsustainable electricity power value chain which will ultimately destabilise the Banking sector. As a banker, consideration must always be given to your depositors and shareholders before consideration is given to political expediency. To my distinguished colleagues who are being conferred with fellowships and indeed all of us present today, I am sure that we have found ourselves in similar situations at one time or the other. I am equally sure that when we look back, there are those of us who are happy with some of the decisions that we

took and those who are not happy with the paths they followed. Choosing the right path when faced with an ethical dilemma is not easy and history can be harsh and unforgiving when you get it wrong. Lest I forget that in this hall are not only today’s leaders of the banking profession, we also have the leaders of tomorrow, some of whom may just be starting their careers as bank teller and entry level officer. So I turn to you leaders of tomorrow and ask you. A fellow bank teller tells you that his daughter is dying and needs N100,000.00 to fund her treatment or she will die. He has no insurance and is desperate. A month later, you see him again and ask how his daughter is, he tells you she is fine now and confides in you that he took N100,000.00 from a dormant account in the bank to pay for it. He assures you he is paying it back and will complete the payments, but what do you do? Legality aside, what is the ethical decision that should be made? As a banker, you are obligated to protect depositor’s funds; in a country, whose level of political, social and economic deterioration gives excuse for everything. As a friend, should you simply look the other way? If he does pay all the money back, has any harm been done? The Way Forward The key to ensuring that members of the Nigerian banking profession resolve ethical dilemmas in a way that contributes positively to building a great nation is to strengthen the personal moral compass of our banking professionals. This requires us to equip them with skills and knowledge that builds up their character, enlightens their thinking and strengthens their decision-making. We must build banking professionals who will act rightly and wisely at the critical moments of truth. The essential elements of the conduct of banking that will reinforce the Banker’s capacity to think and act primarily in the interest of customers particularly depositors and shareholders are as follows: r .JOJNVN RVBMJàDBUJPOT BOE USBJOJOH Members of the profession must be taught their duties as bankers and understand the ethical, legal and professional obligations they must adhere to. Our universities and professional institutions such as the Chartered Institute of Bankers must produce well-rounded graduates who have both a strong understanding of banking and its professional tenets. r$PNNJUNFOU UP QSPUFDUJOH PVS DVTUPNFST Just as doctors sign on to their Hippocratic Oath, we must be sure that our colleagues understand and accept their primary fiduciary responsibility to protect the interests and assets of their customers. The profit motive cannot override this. r)POFTUZ BOE DPOàEFOUJBMJUZ No matter what happens in other aspects of the Nigerian political economy the banking sector and banking profession must be an oasis of sanity, truth and honesty. This extends to the need to maintain customer’s confidentiality, which translates into trust, which is the most important currency a banker can collect. Continued on page 67

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