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FG’s Non-oil Revenue Rises by 28.7% to N322.93bn Obinna Chima The federal government's non-oil revenue increased by 28.7 per cent to N322.93 billion in April, higher than the N251.01 billion recorded the previous month. But at N322.93 billion or 40.6

per cent of total revenue, the non-oil revenue was below the provisional monthly budget estimate of N466.91 billion by 30.8 per cent. The Central Bank of Nigeria (CBN) disclosed this in its monthly economic report for April 2019, posted on its

website. But it explained that the lower collection relative to the provisional monthly budget estimate was due to the shortfalls in corporate tax, VAT, Federal Government of Nigeria Independent Revenue and Education Tax.

According to the report, at N795.31 billion, the estimated federally-collected revenue (gross) in April 2019, fell below the provisional monthly budget estimate of N1.107 trillion by 28.2 per cent. However, it exceeded the receipt of N767.90 billion

in the preceding month by 3.6 per cent. The decrease, relative to the provisional monthly budget estimate, was attributed to a shortfall in both oil and non-oil revenue. Also, oil receipts, at N472.38 billion or 59.4 per cent of total revenue, was below both the

provisional monthly budget estimate and the preceding month’s receipt of N516.88 by 26.2 per cent and 8.6 per cent, respectively. The fall in oil revenue relative to the provisional Continued on page 10

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Tribunal Hears Atiku’s Motion on Electoral Materials Tomorrow Alex Enumah in Abuja

WELCOME TO NIGERIA... L-R: Former president of Court of Appeal, Justice Ayo Salami; All Progressives Congress National Leader, Senator Bola Tinubu; President Paul Kagame of Rwanda; President Muhammadu Buhari; and Acting Chairman, Economic and Financial Crimes Commission, Mr. Ibrahim Magu, at the National Democracy Day Summit on Anti-Corruption in Abuja... yesterday godwin omoigui

When the Presidential Election Petition Tribunal (PEPT) sitting in Abuja, resumes tomorrow, one of the motions billed for hearing is that of the Peoples Democratic Party (PDP) and its presidential candidate, Alhaji Atiku Abubakar, seeking for an order of the tribunal to inspect materials used by the Independent National Electoral Commission (INEC) to conduct the February 23 presidential election. The tribunal would also Continued on page 10

Lawan, Gbajabiamila Seek Reconciliation After Victory Omo-Agege emerges deputy Senate president, Wase clinches deputy speakership Buhari, Saraki, govs, parties congratulate winners Oshiomhole: Defiant lawmakers will be penalised Chuks Okocha, Deji Elumoye, Shola Oyeyipo and Adedayo Akinwale in Abuja With their victories yesterday in the elections of presiding officers for the Ninth National Assembly, Senate President

Ahmad Lawan and House of Representatives Speaker, Hon. Femi Gbajabiamila, have vowed to put the bitterlyfought campaigns for the posts behind them and work towards uniting members of the two legislative chambers

to present a united front in achieving their legislative agendas. Sources close to the two principal officers told THISDAY yesterday, shortly after their elections, that their main priorities was to ensure

that whatever ill-feelings that arose in the process of their emergence as presiding officers were assuaged so the legislature would present a united front and not be distracted by the kind of crises that bedevilled the

Eighth National Assembly, whose presiding officers, Senator Bukola Saraki and Hon. Yakubu Dogara whose emergence was tainted by accusation of perfidy against them. Earlier in the day, Lawan

had defeated his main challenger and a fellow All Progressives Congress (APC) member, Senator Ali Ndume by 79 votes to 28 to be elected the Senate president. Continued on page 8

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Buhari Lists Measures to Strengthen Anti-graft War Restates commitment to security, economy It’s not enough to fight corruption, says Kagame Magu seeks new approach to fight graft Kingsley Nwezeh in Abuja President Muhammadu Buhari yesterday restated his determination to focus on tackling the worsening security challenges in the country, improve the economy and give more bite to efforts at fighting corruption during his second term. He reeled out measures his administration would adopt in its second term in office to give muscles to the war against corruption. He spoke at the “National Democracy Day AntiCorruption Summit,� organised by the Economic and Financial Crimes Commission (EFCC), in Abuja. Buhari’s Rwandan counterpart, President Paul Kagame, also at the occasion, said as a development strategy, it was not enough to fight corruption, stressing that the key to fighting graft in Africa remained wealth creation and equitable distribution of resources. On his part, EFCC Acting Chairman, Mr. Ibrahim Magu, called for a multi-stakeholders’ approach in the fight against graft. Buhari said he would consolidate on the achievements of his administration during its first term in office in the three key priority areas. “During the recently concluded election campaigns, I stated clearly that the major areas of priority during my second term in office as it was in my first term

will be: security, economic improvement and fight against corruption. I remain committed to the fulfillment of these promises. “Now, as this administration commences, we are taking stock of progress made so far in the war against corruption, assessing what needs to be done and devising new strategies to address existing challenges. “I am pleased to inform you that this process has already started with the recent interaction between the Presidential Advisory Committee against Corruption and all anti-corruption agencies in Nigeria,� he said. According to him, the outcome of the interaction, among others, would serve as the basis for a more concerted effort by this administration to strengthen the capacity of the EFCC and other anti-corruption agencies. This would be done, he added, by providing additional material, organisational and logistical support, closing existing legislative loopholes, facilitating collaboration with the judiciary and strengthening the criminal justice system as well as enforcing effective asset declaration by public officeholders in addition to ensuring sanctions by professional bodies against lawyers, bankers, brokers, public officials, and other individuals facilitating corrupt practices. He said the government would ensure support and

protection for whistleblowers, witnesses and victims of corruption. It would also adopt and formulate the policy of ‘naming and shaming’ all those who engage in corruption while encouraging and honoring those who do not. In addition, it will educate, mobilise and encourage Nigerians at the grassroots level to take ownership of the fight against corruption, press for a crackdown on safe havens for corrupt assets, abolishment of bank secrecy jurisdictions and tax havens on the continent and beyond. Other measures include insistence on unconditional return of looted assets kept abroad and strengthening international cooperation through information and mutual legal assistance. On electoral spending, Buhari said the summit themed: ‘Curbing Electoral Spending: A Panacea for Public Corruption’ was appropriate as it formed part of “the guiding principle and commitment of our administration. This is in light of recent political developments in the country.� He said electoral spending manifested in different ways hence the need to decommercialise the electoral process. “Regrettably, the recent political experiences have been characterised by the corrupting influence of money on party politics and electioneering processes. “This unwholesome practice

has dire consequences on our nations, in subverting the exercise of free choice by voters, elevated corrupt and unprincipled individuals to positions of leadership and entrenching the structures of democracy devoid of accountability. “I once stated that: corruption runs completely counter to our shared values as Africans - the values of justice, the sense of fairness, law and order, equity and equality. Corruption rewards those who do not play by the rules and also creates a system of patronage where the resources are shared out by small elite, while the majority is trapped in poverty,� the president added. In his remarks, Kagame said it was not enough to fight corruption, stressing that Nigeria and African nations should lay emphasis on wealth creation and greater emphasis on the equitable distribution of resources, which would engender support from the citizenry. Kagame said corruption must be fought from top to bottom, using four key principles notably “culture, responsibility, accountability and effectiveness�. “We must discard the myth that corruption is endemic to particular cultures. Corruption is a universal weakness, not an African one, and it is not part of our destiny as a continent,� he added. According to him, research has shown that “the biggest sources and beneficiaries of

corruption are outside of Africa. “There is one of your own who wrote a book titled fighting corruption is dangerous; so she gave me the book and as I was looking at the title, I reminded her and said you need to be thinking of writing another book to state that not fighting corruption is even more dangerous. “This is a fight that can be won; tolerating corruption is a choice, not an inevitability. It is within our power to end it. That is the most important starting point, otherwise, it will be a waste of time to keep talking about it.� He outlined steps to take in fighting corruption. He said: “Corruption does not take decades to eradicate once we decide to break the habit. “We have to set our sights high. It is not enough to fight corruption just as merely fighting poverty, it is too small an ambition for Africa. We want to create value, we want to create wealth, not merely fighting corruption.� Earlier, Magu had said a multi-stakeholders’ approach was required in the anti-graft war. He identified corruption as a hindrance to economic growth and perpetuation of terrorism. He said the convictions secured by the commission since the beginning of the Buhari administration reflected a positive progression in the fight against corruption. “In 2015 the commission

secured 103 convictions, 194 in 2016, 189 in 2017 and 312 in 2018. From January 2019 to date the commission has secured over 406 convictions and recovered several assets worth billions of naira. “Despite this record, corruption remains a challenge in our country. I believe that the fight against corruption requires a multi-stakeholders’ approach. The private and public sectors are critical players in this regard and I am glad some state governors are taking steps to establish institutional mechanisms to fight corruption. “However, institutional mechanisms alone will not eradicate corruption, we must have the passion and the will to make a difference,� he said He urged key players in the private sector to strengthen their corporate governance to reduce the effects of graft on the business environment. “Gladly, this administration in its anti-corruption drive has endorsed some policies that will sanitise the business environment. The Executive Order 8 for the Voluntary Offshore Asset Regularisation Scheme and the Executive Order 6 for the Preservation of Assets Connected with Serious Corruption and other Relevant Offences, are all policy initiatives that would aid anti-corruption,� he said. Magu added that there was no better time than now for effective collaboration amongst African states in the fight against corruption.

the executive, to tackle cattle rustling, kidnapping and other crimes. Under his leadership, the legislature will also work towards finding lasting solutions to the educational challenges in the country. He said it was embarrassing to have about 14 million children out of school. On his part, Ndume congratulated Lawan on his victory, saying he is ready to support him. He expressed his readiness to work with Lawan in the interest of the country. Ndume described Lawan as a well-experienced lawmaker who was four years ahead of him, adding that he happily contested the election in tandem with the tenets of democracy. He expressed hope that APC would not see his action as a rebellion, but as a step taken in deepening democracy. "I hope the party would agree with me that what I did was in the interest of democracy and I do know that power belongs to God. It's God's will that my colleague becomes the president," he said. Ekweremadu, while also pledging his support to Lawan, said he contested for the Senate deputy presidency not to win but to prove a point.

"I believe there must be a referendum. Look at what happened on a day I was presiding and the chambers were invaded. It is embarrassing that someone who led that operation will take a bow and we all walk home like it does not matter. I wanted a situation where we could present a referendum in respect of what transpired. "Early this morning, we were not minded to run for any office, we thought that our friends in APC would present a consensus candidate that we could all be proud of. We did not want a situation where we would say what happened here and then you come and endorse same person deputy president of the Senate. We need to exonerate ourselves. It was not a contest to win or lose, I wanted to make a point,� Ekweremadu said. He later took to his social media handles after the inauguration of the Ninth Senate to congratulate Lawan and Omo-Agege on their elections.

majority leader in the Eighth Assembly to become speaker of the extant legislature. He was nominated by the Director-General, Gbajabiamila/Idris Wase Campaign Organisation, Hon. Abdulmumin Jibrin, representing the Kiru/Bebeji Federal Constituency while

LAWAN, GBAJABIAMILA SEEK RECONCILIATION AFTER VICTORY In the race for the Senate deputy presidency, Senator Ovie Omo-Agege, also of the APC, polled 68 votes to defeat his predecessor, Senator Ike Ekweremadu, of the Peoples Democratic Party (PDP), who garnered 37votes. In the House of Representatives, Gbajabiamila of the APC, with 281 votes trounced his rival and party mate, Hon. Umar Bago, who scored a meager 76 votes. However, in the deputy speakership election, Hon. Idris Wase emerged unopposed. Lawan, Gbajabiamila and their deputies’ elections have elicited a wave of congratulatory messages from President Muhammadu Buhari, Saraki, governors, former Abia State Governor, Senator Orji Uzor Kalu as well as APC and PDP. The road to victory began for Lawan when the Clerk of the National Assembly (CNA), Mr. Mohammed Sani-Omolori, read the proclamation letter from Buhari and informed the senators-elect that the opensecret voting method would be adopted for the election. Some APC senators-elect, led by Barau Jibrin ( Kano North) protested. They said: " No! No!! No!!! Didn't you receive court judgment," in apparent

reference to an Abuja High Court order that suspended the 2015 Standing Rules, which recommended open-secret ballot system be used for the election of Senate presiding officers. But the CNA said ordinarily he would not have replied the question but he would do so out of courtesy. "I also heard about the order but I have not been served so we will go according to the 2015 Standing Rules of the Senate which made provision for open-secret mode of voting," he added. The CNA directed the Clerk of the Senate, Mr. Nelson Ayewoh, to take a headcount of the senators-elect present before proceeding for the election. While Lawan was nominated by an APC senator-elect, a PDP senator-elect nominated Ndume for the Senate presidency. At the close of voting, Lawan emerged winner with 79 votes as against 28 votes scored by Ndume. For the deputy Senate presidency race, Omo-Agege polled 68 votes to beat Ekweremadu who polled 37 votes. In his acceptance speech, Lawan said he would be fair to all his colleagues, irrespective

political, ethnic or religious affiliation. According to him, the Senate under his leadership will do justice to all, to ensure that it performs its role for the benefit of Nigerians. He said: "Elections are over. It shows that we voted for a united Senate and it is clear that the outcome is bipartisan. "All parties, including the Peoples Democratic Party (PDP) and Young Progressives Party(YPP), voted for me and with this outcome, the Ninth Senate is ready to take off as a united Senate. "Today means so many things. It is the commencement of another decade of our democracy and we will work to ensure best global parliamentary practice among other things." Lawan said he would ensure a secured and prosperous future for all Nigerians, adding: "I’ll run a Senate that would be responsive to the needs of the masses on whose mandate we are at the Senate.� He called for the support of his colleagues to ensure a robust Senate, saying that, "we will not settle for anything less than the best. We will dream big, aim high and take good initiatives." He said the Senate would work in collaboration with

Gbajabiamila Emerges Speaker In the House of Representatives, it was a smooth transition for Gbajabiamila, who was the

Continued on page 10

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NEWS LAWAN, GBAJABIAMILA SEEK RECONCILIATION AFTER VICTORY Hon. Linda Ikpeazu of the PDP seconded the nomination. Gbajabiamila, representing Surulere I, Lagos State, polled 281 votes out of 358 cast by his colleagues to defeat his Bago, representing Chanchagi Federal Constituency, Niger State, who got meager 76. Sani-Omolori who pronounced Gbajabiamila as the speaker-elect, said: “Hon. Femi Gbajabiamila, having secured the highest number of votes over and above the required number of votes, has been returned as the speaker of the House.� Wase, who also emerged deputy speaker was returned unopposed by members. In his inaugural speech, Gbajabiamila said after the election, it was time to work in the interest of Nigeria and Nigerians. He assured his colleagues that his leadership would work with every member, irrespective of their party affiliation. He said: “No greater honour can be done a man than to be elected by his peers as their leader and standard bearer. This is the honour you have given me today and from the bottom of my heart, I say thank you. “I understand that I hold this office in trust for you and Nigerians. Conscious of this sacred trust, I hereby dedicate myself to the service of this honourable House and of the good citizens of this great country, with the commitment that I shall at all times strive to defend the constitution of our republic. “I equally commit myself to always observe the tenets of justice, equity and fairness in my dealings with my colleagues, and to apply the ideals of transparency, probity and accountability in my management of the affairs of this honourable House. “The contest for the speakership of this Ninth

Assembly is now over and it is time to move on. Our country is presently confronted with a myriad of problems and it is our responsibility as members of this institution to set aside political, ideological and other differences that may distract us from the assignment the Nigerian people have sent us here to perform. “There is a lot more that unite us than divide us. There is much work to be done and we must now pull together, roll up our sleeves, settle down and attend to the peoples’ business. “Whatever political party each one of us may belong, we must be conscious of the fact that Nigerians are truly desirous of good governance and are looking to us to be the agents that will through meaningful legislation combat security, poverty, corruption and other problems and contradictions that have held our country back and stunted our development.� He immediately announced the appointment of a former Speaker of Zamfara State House of Assembly, Hon. Sanusi Rikiji, as his chief of staff.

Buhari Congratulates New Principal OfďŹ cers Congratulatory messages started pouring in for Lawan, Gbajabiamila and others immediately after their elections with the president, saluting their doggedness. Buhari, in a statement by his Special Adviser on Media and Publicity, Mr. Femi Adesina, also saluted all national legislators and their political parties for their display of patriotism and non-partisanship before and during the elections. He commended the transparent and fair nature of the voting process, adjudging it as a plus for the democracy in the country. Buhari described the

emergence of the new leaders of the legislative branch of government as “a new dawn, different from duplicity and perfidy of the immediate past.� He, however, charged the winners to use their exalted positions for the higher interest of the country, her people, and for the growth of democracy. �The executive does not desire a rubber stamp legislature. While separation of powers is essential, collaboration among all arms of government should be the name of the game. Opposition need not be virulent,� he said. The president urged contestants who lost out to be gallant in defeat and join hands with the victors who should exhibit magnanimity and eschew vindictiveness.

Saraki, Okowa, Sanwo-Olu Greet Lawan, Gbajabiamila Also, Saraki, Delta State Governor, Dr. Ifeanyi Okowa and his Lagos State counterpart, Mr. Babajide Sanwo-Olu, congratulated Lawan and Gbajabiamila on their elections as presiding officers. In a statement by his Special Adviser on Media and Publicity, Yusuph Olaniyonu, Saraki also congratulated Omo-Agege and Wase on their elections. “As you set forth on your legislative endeavours in the next four years, I ask that you always put the Nigerian people first in all that you do and protect the integrity of the legislative institution,� he said. On his part, Okowa, in a statement in Asaba, lauded the resilience and political sagacity of the newly-elected presiding officers. He commended members of both chambers for their choice of leaders, noting that Nigerians are eagerly waiting

for a vibrant and independent National Assembly to make good laws for the good governance, security and welfare of the people. Sanwo-Olu, in a statement by his Deputy Chief Press Secretary, Mr. Gbenga Akosile, described Lawan’s and Gbajabiamila’s victories as results of focus, hard work, resilience and team spirit. He said the keenly contested elections in both chambers of the National Assembly indicated the deepening democratic culture in Nigeria. He urged the newlyelected principal officers to see their new positions as a heavy responsibility because according to him, “Leadership itself is responsibility’’.

the conduct of the presidential poll but was denied permission to carry out forensic audit on the materials and polling documents. The three-man panel led by Justice Abdul Aboki, in his ruling, had held that such request for scanning, forensic analysis of the election materials should be brought before the tribunal. At the resumed pre-hearing session yesterday, INEC, Buhari and the APC, who are the respondents in the case, urged the tribunal to strike out the petition of Atiku and the PDP for being incompetent and lacking in merit. INEC in four different motions argued by its lead counsel, Mr. Yunus Usman

(SAN), challenged the competence of the petition filed by Atiku and the PDP. Usman prayed the tribunal to strike out the petition because of the failure of the petitioners to join Prof. Yemi Osinbajo, the running mate to Buhari at the election as a party in the petition. He said as co-winner of the election, Osinbajo was a necessary party and omitting his name in the petition was fatal to the petitioners’ case. Usman further prayed the tribunal to strike out the petition because it is the duty of INEC to defend the electoral process, particularly, where the petition has failed to comply with paragraph 18 (1) of the first schedule of the Electoral

PDP Salutes New N'Assembly Leadership

capacity to drive the affairs of the national assembly.

Oshiomhole: APC Will Discipline Errant Lawmakers

The PDP National Working Committee (NWC) also congratulated the Ninth National Assembly for its successful inauguration. The party, in a statement, commended all those who made the contest robust for helping to deepen democratic practice. It said it would always stand on the side of decency and utmost respect for the institution of the National Assembly and the values Nigerians hold as a people. "The Ninth National Assembly therefore must work hard to save our nation from the prevailing despondency caused by the misrule of the President Muhammadu Buhari's administration, by effectively applying its statutory legislative instruments to guarantee good governance and fiscal prudence, curb corruption, check the excesses of the executive and protect the rights of Nigerians from incessant violations,� PDP added.

Also yesterday, APC National Chairman, Adams Oshiohmole, said his party would look into the activities of recalcitrant members of the National Assembly who contested against the party’s choices. Oshiohmole told National Assembly correspondents after Gbajabiamila and Wase were elected that those who think something was wrong with the ruling party have been humbled by the victory of the party’s preferred candidates in the Senate and in the House of Representatives. “We have rules. We expect people to obey the rule and the rules of democracy are clear. When we have taken a position as a party, we expect party members to comply. We will look at the constitution and we will see what does it say about people who resort to deviant behaviors,� he added.

Kalu Hail New Leadership In his reaction to the emergence of new leadership for the legislature, Senator representing Abia North Senatorial District, Dr. Orji Kalu, congratulated Lawan, Gbajabiamila, OmoAgege and Wase on their elections. According to him, the new leadership of the National Assembly will develop and sustain a harmonious relationship with the executive and judiciary arms of government. Kalu described the newlyelected officials as experienced parliamentarians with the

Meanwhile, it was learnt that Ekweremadu decided at the last minute to run against Omo-Agege after the PDP gathered that the APC senator’s main challenger whom the opposition party senators-elect had decided to back, Senator Francis Alimikhena, might back out from the race. The alternative became necessary when the party's Senate caucus, having reached a decision not to vote OmoAgege, for his alleged role in the theft of the Senate mace in the Eighth Assembly. According to sources, it was to fill in the gap that Ekweremadu was mandated to run against Omo-Agege.

Act, 2010 as amended. Similarly, Buhari, who is the second respondent in the petition, urged the tribunal to strike out the entire petition for being fundamentally defective. In his two motions argued by his lead counsel, Chief Wole Olanipekun (SAN), the president prayed the tribunal to alternatively strike out 18 itemised paragraphs of the petitioners' reply to the respondent's reply to the main petition for being defective. On its part, the APC through its lead counsel, Chief Lateef Fagbemi (SAN), filed two motions in which it prayed the tribunal to strike out Atiku and the PDP's petition because the preliminary objection was not responded to by the petitioners.

Fagbemi, who had earlier withdrawn his first application filed on May 14, 2019, informed the court that the petitioners only replied and filed counter affidavit to the motion he had withdrawn. He, therefore, urged the tribunal to hold that his two other applications were unchallenged. Responding, lead counsel to Atiku and the PDP, Dr. Levy Uzuokwu (SAN), orally applied to amend the heading of his response to the APC's application that was struck out to apply to the two other APC's applications. He urged the tribunal to strike out APC's objection to their petition. Uzuokwu responding further

to Fagbemi's applications said, "I do not think that it is simple as my brother thought as we have joined issues on the application he sought to withdraw.� Atiku and PDP's lawyer also prayed the court to dismiss the three separate applications filed by Buhari for lacking in merit. The counsel equally prayed the tribunal to strike out all INEC's applications. Meanwhile, the tribunal yesterday struck out two applications filed by INEC and APC after they were withdrawn by the two respondents. Subsequently, Justice Garba adjourned till June 13 for continuation and hearing on two applications filed by the petitioners.

per cent increase over the level at the end of the corresponding period of 2018. The development, relative to end-April 2019, reflected, mainly, the 13.2 per cent decline in 'Interbank Utilisation," the report stated. Furthermore, the overall, foreign exchange flows through the Bank in the month of April 2019, resulted in a net inflow of $0.35 billion, compared with $2.51 billion and $0.80 billion in the preceding month and the corresponding period of 2018, respectively. According to the report, at N31.696 trillion, aggregate credit to the domestic economy, on month-on-month basis, grew by 3.9 per cent at the end of the review month,

compared with the increase of 6.5 per cent and 0.7 per cent at the end of the preceding month and the corresponding period of 2018, respectively. The development reflected, mainly, the 11.4 per cent rise in net claims on the federal government. Over the level at end- December 2018, net domestic credit grew by 15 per cent at the end of the review period, compared with the growth of 10.7 per cent and 5.3 per cent at the end of the preceding month and the corresponding period of 2018, respectively. The development was due to the increase of 59.1 per cent and 5.5 per cent in net claims on the federal government and claims on the private sector, respectively.

"Net claims on the federal government, on month-onmonth basis, rose by 21.8 per cent to N7,741.3 billion at end-March 2019, compared with the increase of 11.4 per cent and 7.3 per cent at the end of February 2019 and March 2018, respectively. "The development was due to the increase of 74.0 per cent in the banking systems holding of government securities in the review month. Relative to the level at end- December 2018, net claims on the federal government grew by 59.1 per cent at the end of the review period, compared with the increase of 30.6 per cent and 35.5 per cent at end of February 2019 and March 2018, respectively," it added.

APC: Lawan, Gbajabiamila, Others Emergence a Triumph of Democracy The APC described the emergence of Lawan as the president of the Senate, Omo-Agege as Senate deputy president, Gbajabiamila as speaker and Wase as deputy speaker as a triumph of democracy over brazen anti-democratic forces in the opposition party. The party, in a statement yesterday by its National Publicity Secretary, Mallam Lanre Issa-Onilu, said the landslide victory by APC candidates was a triumph of internal democracy, anchored on consensus building. The ruling party said the support of the National Assembly would remain critical as an arm of government to enable the APC-led administration to continue to deliver on its current scheme of provision of infrastructure throughout the country to boost economic development; provide jobs to the citizenry; and to increase the tempo of social investments and

TRIBUNAL HEARS ATIKU’S MOTION ON ELECTORAL MATERIALS TOMORROW listen to the application of the petitioners, asking for an extension of time to respond to some processes filed by INEC, President Muhammadu Buhari and his party, the All Progressives Congress (APC). The Chairman of the fivemember panel hearing the petition, Justice Mohammed Garba, fixed the date at the end of yesterday's proceedings. The tribunal, however, reserved ruling to a date to be communicated to parties in motions filed by the three respondents seeking to strike out or dismiss Atiku and PDP's petition. Atiku and the PDP had in March 2019, obtained an order of the Court of Appeal, Abuja, to inspect materials used in

empowerment of our people.

Why Ekweremadu Ran against Omo-Agege

FG'S NON-OIL REVENUE RISES BY 28.7% TO N322.93BN monthly budget estimate was attributed to the shutins and short-downs at some NNPC terminals due to technical issues, leakages and maintenance. "Of the total N616.21 billion retained revenue in the Federation Account, the sums of N88.49 billion, N67.82 billion and N24.72 billion were transferred to the VAT Pool Account, the federal government independent revenue and 'Others' respectively, leaving a balance of N435.18 billion for distribution to the three tiers of government,� the report said. Of this amount, the federal government received N208.39 billion, while the state and local governments got N105.70

billion and N81.49 billion, respectively. The balance of N39.59 billion was shared among the oil producing states as 13 per cent Derivation Fund. Similarly, from the N88.49 billion transferred to the VAT Pool Account, the federal government received N13.27 billion, while the state and local governments received N44.25 billion and N30.97 billion, respectively. "The external sector performance remained stable in the review month. The average price of crude oil rose from $68.11 per barrel in March 2019 to US$73.08 per barrel in April 2019 due to OPEC-led supply cuts, geopolitical tensions in Libya and Venezuela, and the

US sanctions on Iran. "Notwithstanding, aggregate foreign exchange inflow into the CBN, at $5.25 billion, showed a decline of 32.4 per cent below the level in the preceding period of 2019, but contrasted with the growth of 23.8 per cent at the end of the corresponding period of 2018. The fall in aggregate foreign exchange inflow into the CBN, relative to the preceding month’s level, was attributed, largely, to the decrease in non- oil receipts. "Aggregate outflow of foreign exchange from the Bank fell by 6.7 per cent below the level at the end of the preceding month to $4.90 billion in April 2019. It, however, indicated 42.5

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COMMENT

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

AIT, NBC, HATE SPEECH AND THE LAW Sonnie Ekwowusi argues that the clampdown on AIT was excessive

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ast week the National Broadcasting Commission (NBC) abruptly shut down the African Independent Television (AIT) and Ray Power FM radio over what it construes as the airing of “hate speech� and “divisive and inciting comments� such as, “Nigeria is cursed, “we declare independent state of Niger Delta�, “Nigeria irritates me�, “this country is gradually Islamizing� on AIT segment tagged “Kakaaki Social�. It is public knowledge that there is no love lost between the Buhari government and Dr. Ray Dokpesi, the boss of Daar Communications Limited, owner of AIT. The former has been accusing the latter of committing many sins including supporting the opposition Peoples Democratic Party (PDP). In the words of the NBC: “Its broadcast is patently partisan and one sided and deliberately inciting and heating the polity. The management of the company has created the habit of using the channel to fight its personal battles contrary to the statutory requirements of the law�. The government is particularly angry with AIT for airing the documentary on the Presidential election documentary, a matter that is still sub-judice on AIT on Wednesday and Thursday, 22nd and 23rd May, 2019 respectively. In simple language, the government wants AIT’s licence revoked for the station’s bias in favour of PDP and the opposition. Consequently the AIT was shut down last week. However, last Friday, June 7, 2019, Justice Inyang Ekwo of the Federal High court, Abuja ordered the immediate re-opening of AIT and that parties should maintain the status quo ante bellum pending the determination of the substantive suit between the parties. Meanwhile in his defence, Ray Dokpesi argues that the closure of AIT and Ray Power is a mere intimidation and witch-hunting against him simply because he is affiliated to the opposition. He further argues that since coming to power in 2015 the Buhari government has been intolerant of divergent political views and has perceived them as a threat to what is narrowly conceived as a national interest. He argues that AIT owes a duty to the public to broadcast or inform public on any matter of public interest. Without holding brief for AIT, NBC or the Buhari government let me quickly say that under our constitutional democracy, even as we understand it in Nigeria today, the citizens including members of the opposition enjoy certain basic rights. One of these basic rights is the right of the citizens to express their satisfaction or dissatisfaction with the performance of any political party. Corollary to this right is the freedom of the press to hold opinion and impart information. Section 39 (1) (2) of the 1999 Constitution guarantees press freedom and stipulates that every person shall be entitled to freedom of expression, including freedom to hold opinion to receive and impart ideas and information, and freedom to own and operate a TV or wireless broadcasting upon the authorization of the President. But as we know very well, no freedom is exercised in vacuum; no freedom is absolute, otherwise freedom will become lawlessness and end up in anarchy. Therefore, press freedom enshrined under the above section 39, is curtailed under section 45(1) of the same constitution to the effect that nothing in section 39 of the constitution shall invalidate any law that is reasonably justifiable in a democratic society in the interest of defence, public safety, public order, public morality or public health or for the purpose of protecting the rights and freedom of other persons. What are these laws that are reasonably justifiable in a democratic society?

ONE OF THE POLITICAL OBJECTIVES IN THE NBC CODE IS TO ‘INCULCATE IN THE PEOPLE THE SPIRIT OF TOLERANCE OF ALL SHADES OF OPINION; AND PROMOTE SOCIAL JUSTICE BASED ON THE RESPONSIBILITIES AND RIGHTS OF THE INDIVIDUALS IN SOCIETY’

They include laws on defamation-libel and slander and the National Broadcasting Commission Code 2012 (hereinafter simply referred to as the “NBC Code.�) The NBC Code classifies punishments which could be meted out to erring TV stations into grades A and B. Grade A sanctions are applied in cases of very serious breaches such as transmission without licence, etc., whereas B sanctions are applied in non serious breaches such as deviation from assigned frequency causing harmful interruption, etc. Grade A sanctions attract immediate shut down of TV station and/or seizure of TV operation licence or seizure of transmitting equipment, etc. I have meticulously read through the NBC Code and it appears to me that the charges against AIT-partisan political broadcast, political broadcast with inflammatory, divisive, inciting and provocative tone and political broadcast that threatens the indivisibility and indissolubility of the sovereign State of Nigeria-are all charges which fall under Grade B which do not attract shutting down the AIT. As regards “hate speech�, there is nothing like that in the NBC Code. Attempts by Senator Aliyu Sabi Abdullahi (APC, Niger State) in the Eighth Senate to get Hate Speech Bill passed into law failed woefully. Therefore AIT or any TV station cannot be prosecuted under a non-existent “Hate Speech� law. Lest we forget, constitutional democracy is participatory democracy. Variety is the spice of life. Even the NBC code encourages airing of divergent political views. In fact one of the political objectives in the NBC code is to “inculcate in the people the spirit of tolerance of all shades of opinion; and promote social justice based on the responsibilities and rights of the individuals in society�. In any case, viewed from the standpoint of the spirit of truth and self-interest, we all belong to different religious, social, political and economic groups. Therefore we all have the right to have prejudices, prescriptions and presumptions about our leaders because prejudices, prescriptions and presumptions are necessary to protect the society from the disordered appetites of political leaders. TV stations have their biases and prejudices as well. For instances, the CNN, BBC, Aljazeera, Fox and others have their biases and prejudices. Since President Trump came to power, the U.S. media has been hurling unprintable insults at him. The New York Times, in particular, is completely anti-Trump. But Trump has not dispatched the American SSS to shut down or revoke the licence of the New York Times or other anti-Trump media. So, instead of running after AIT, the NBC should concentrate its efforts in yanking off the TV many programmes that are antithetical to our cultural heritage. There are mounting complaints in Nigeria that many programmes on the cable satellite and DSTV, etc., are abhorrent to Nigerian cultural heritage. The painful aspect is that our children are glued to the TV everyday watching these useless foreign programmes. A year ago or so, a friend living in Abuja stumbled across a DSTV channel 128 programme advertising homosexual practices. Whereas article 3.8.1 of the NBC code stipulates that womanhood shall be presented on TV with respect and dignity. But unfortunately womanhood is constantly being degraded on TV. Any small boy, for instance, who calls himself a musician, can afford to recruit dozens of half-naked women to dance for him on TV. One of the cultural objectives in the NBC code is “to safeguard, enrich and strengthen the cultural, political, social and economic fabrics of Nigeria�. The NBC must reinvent itself if it really intends to achieve these lofty objectives.

A LETTER TO MKO ABIOLA The ‘dawn’ is still far away, writes Chima Christian

‘It has been a long night. But the dawn is (NOT) here’ write to inform you that June 12 has evolved. “From a commemoration observed by scattered bands of devotees, members of the Abiola family, and human rights activists, confined mainly to the South-West,� as Ayo Olukotun carefully worded it, “June 12 has now mutated into a national observance and symbol of nationhood in the same class with other national holidays, totems and identity markers of statehood.� You already know that you have been awarded the highest national honour the Nigerian state could give. It should be a proud moment. Fists should be up in the air, but they are not. We mark the day with mixed feelings even as we remember the ideals you stood for. With deep discomfiture I bring to your notice that Nigeria today is the exact opposite of what you envisioned. You had a vision for this country and you communicated that vision so clearly. You wanted to “make Nigeria a better place for all.� Nigerians agreed with you and overwhelmingly gave you their mandate. That dream was aborted. In its place, Nigeria was turned to be a better place for some, or worse still and more realistically so, a worse place for all. You aspired for Nigerians to transition and “bid farewell to poverty.� That aspiration, like the election, was annulled. And poverty was taken to the next level. Nigeria, yes the very Nigeria you bled and died to liberate, is now the poverty capital of the world. During your famous declaration on that fateful day in 1994, you passionately expressed your concerns; “Our factories are crying for machinery, spare parts and raw materials. But each day that

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passes, instead of these economic diseases being cured, they are rather strengthened as an irrational allocation of foreign exchange based on favouritism and corruption becomes the order of the day.� If it is permissible, you need to come and witness the state of our nation. You were “sickened to see people who have shown little or no personal achievement, either in building up private businesses, or making success of any tangible thing, being placed in charge of the management of our nation’s economy, by rulers who are not accountable to anyone.� You know you could have made that exact remark in 2019 and still be right. You were worried about the hegemonic few playing “a permanent game of military ‘about turns’.� You cried that “Appeals to their honour as officers and gentlemen of the gallant Nigerian Armed Forces, have fallen on deaf ears. Instead, they have resorted to the tactics of divide and rule, bribery and political perfidy, misinformation and (vile) propaganda. They arrest everyone who disagrees with them.� Today, despite the deafening claims of integrity, it is as if Nigeria consistently “ranks high in matters of dubious distinction.� You were worried about “the consequences of high inflation, a huge budget deficit and an enormous foreign debt repayment burden, dying industries, high unemployment and a demoralised populace.� The youths gave you the biggest emotional burden. You wept bitterly about our condition; “Our youths, in particular, can see no hope on the horizon, and many can only dream of escaping from our shores.� As it turned out, you were only weeping about the figurative frying pan; we have

been pushed off that frying pan into the fire. As you saw it in 1994; “A scarcity of books and equipment has rendered our schools into desolate deserts of ignorance.� Well, things have not gotten any better. Several years after, that desert continues to encroach even at a more alarming speed. In mourning a Nigeria that was not allowed to be, we are not disillusioned. You wouldn’t have been a perfect president. But, given your world view, disposition, successes in many areas of life, the little change you wrought through philanthropy, and the meaningful connections you made, you would have been a damn good president of a multi-cultural Nigeria. Having received the highest chieftaincy title a commoner could get in Yoruba land, you – the Aare Ona Kakanfo of Yoruba land – didn’t yield to the temptation of reducing yourself to an ethnic champion. As proud as you were to be a Yoruba warlord, you fought, bled and died for ordinary Nigerians from all parts of the country. And in so doing, became “an unexpected symbol of democracy� and national unity. You had people you could trust, and those who could trust you too, from all sides of the ethnic and religious spectra. You surrounded yourself with competent people drawn from all parts of the nation. Little wonder citizens from all parts of the nation felt their interests will be better served with you at the helm of affairs. June 12 should be a crystallization of that national unity you envisioned. But today, we are, for the very first time, marking it as a national holiday even while we observe that since the civil war Nigeria has never been divided as it is presently. The fault lines are there, and very visibly so.

These are some of the issues we look at and ask; “should we be mourning or celebrating?� In trying to answer that question, we draw from the wisdom of ancient Koreans who admonished their wards to “catch not at the shadow, and lose the substance.� Those in government today say you have been honoured and will be forever remembered. We agree, but struggle to reconcile the fact that they are antithetical to your vision for Nigeria, your ethos and the spirit of the struggle. We give it to them; in the transmutation of June 12, Buhari’s government struck a massive emotional chord. They have caught your shadow. We are more interested in the substance. Dear MKO, we seek your wisdom, please answer us from the beyond. Should we be pained or joyed that wreathes are today being laid on the tomb of a visionary, on the account of his vision, by people whose actions and utterances are snuffing life out of whatever remained of that vision? Perhaps, rather than reaching for the emotions of June 12 as they have done, the Buhari-led government should have asked for a lesson on the ethos you espoused. The cosmetic display nonetheless, we find it in our hearts to give due credits for the thoughtfulness in bringing to the fore the issues of June 12. After all, it is commonly said in Nigerian street parlance that “all die na die.� Beloved MKO, as you are celebrated today, we are torn apart by those celestial and immortal words you declared at Epetedo; “It has been a long night.� Sadly, 25 years after, Nigeria remains in twilight: but we still can’t say that “the dawn is here.� With hope, we continue to believe; it is well. Chima is a research associate at Selonnes Consult, Awka

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EDITORIAL DEMOCRACY DAY: The Essence Of June 12 President Buhari must broaden his vision to accommodate all

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s Nigerians mark Democracy Day, President Muhammadu Buhari must begin to define his legacies to align not only with his governance and immediate stewardship but also with the mood of a nation that is in dire need of healing. This is against the background that when he was sworn in for a second term on 29th May this year, the president broke tradition by not delivering an inaugural address. The excuse was that he chose today (June 12) to address Nigerians on the policy thrust of his administration for the next four years. Therefore, the essence of June 12 should not be lost on the president. Strictly interpreted, it was more than the date of an election. On that day, as we stated in the past, Nigerians defied faith, ethnicity and nativism to speak with one voice on the choice of national leadership. The summary of the June 12 challenge for the nation and in particular the Buhari administration is to embrace the THE SUMMARY OF THE spirit of inclusiveness JUNE 12 CHALLENGE and justice for all FOR THE NATION AND IN Nigerians. These PARTICULAR THE BUHARI values transcend pomp and mere ADMINISTRATION IS TO symbolism. EMBRACE THE SPIRIT In appropriately OF INCLUSIVENESS commemorating June AND JUSTICE FOR ALL 12 as Democracy NIGERIANS Day, the president has vicariously raised the standard by which his legacy will be judged, especially as he commences his second and final term in office. The appeal of the late Chief M.K.O. Abiola—the man who symbolises the day—was not just in his philanthropic sweep across the nation. A Baptist school boy who happened to be a Muslim, a street kid who rose to the pinnacle of the boardroom and a multi-millionaire who found time to commune with the poor were combinations that appealed to the widest spectrum of the Nigerian electorate in that

Letters to the Editor

historic election. Although the election—conducted exactly 26 years today under a guided democracy superintended by the military regime of General Ibrahim Babangida— was without any hitches, the result was annulled before it could be officially declared. This was despite the fact that most Nigerians knew the late Abiola of the Social Democratic Party (SDP) had won the election. The struggle that followed led to the death of many pro-democracy activists, especially under the late General Sani Abacha. His death and that of Abiola, a month apart, in 1998 ushered in the current democracy on 29th May 1999.

T T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, 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

o honour the memory of Abiola and the sacrifices he made, President Buhari last year proclaimed June 12 Democracy Day in Nigeria, as opposed to May 29. Last week, he assented to the Public Holiday Amendment Bill to confer official recognition on the new Democracy Day. His Senior Special Assistant on National Assembly Matters (Senate), Senator Ita Enang, said thereafter: “May 29th will only be handover date and working day. By the act amended and signed by Mr. President, May 29 is no more a public holiday. June 12 is now a public holiday and the country’s Democracy Day.” We commend President Buhari for his decision on June 12. Unarguably, our nation is bleeding from old and new injuries. At no other time has the feeling of hurt in several parts of the nation been more pronounced than now. Ordinarily, then, the recognition of Abiola and June 12 ought to be part of a national healing process. We therefore urge President Buhari to break free from the prejudices of some handlers and reassert his authentic nationalism as a statesman. This is the time to look again at the south-east and the middle belt where old and new collective injuries have joined to heighten the sense of alienation. As has been demonstrated by the public acclaim of the Abiola/June 12 gesture, the passage of time neither heals collective wound nor does it diminish courageous restitution.

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.

ARTS THEATRES AND REVIVAL OF CREATIVE INDUSTRY

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here is growing international interest in the potential of the cultural and creative industries to drive sustainable development and create inclusive job opportunities. The cultural sector–the visual arts, museums, theatres, etc.–is increasingly seen as a potential driver of growth by governments and organizations charged with promoting economic development around the world. Aside being responsible for billions of dollars from cultural exports, arts and related ventures such as music, dance, painting and theatre are all seen as keys that unlock profound human understanding and accomplishment in the developed countries. Given the very severe rate of youth unemployment in Nigeria, the entertainment industry may be particularly important for job creation. Theatre, for instance, has enormous potential to contribute to social cohesion and nation-building through the promotion of intercultural dialogue, understanding and collaboration. Of course, theatre can have far-reaching effect in addressing rising rate of suicides, crimes and varied anti-social behaviours in the society. This is in addition to serving as new economy or revenue generating venture for the government. It is sad that by now, Nigeria is yet to see the entertainment industry as veritable sources of growing her Gross Domestic Product. South Africa, Egypt and Senegal remain some of the prominent places where artists, mostly Nigerians, go to unwind and be at home with artworks that have been kept in good order from time immemorial.

Here arts are often viewed as isolated instead of being seen as part of a larger economic ecosystem. Cheeringly it is not just a common knowledge that Lagos is the centre of culture and entertainment in Africa but boosting the state’s creative economy has been ingrained in the pillars of development of successive administrations in recent years. Lagos has recently supported a broadband of arts and cultural events as well as use global platforms to draw attention to the state’s tourism potential. Of course, the last one year in particular has been eventful in terms of tourism infrastructure development, arts and cultural promotion which has laid a long-term foundation to make Lagos State a sustainable tourism-driven economy and a topmost haven for business and leisure in Africa. It is a great joy to lovers of home groomed theatre performances as they now have opportunity to watch exciting stage plays in their neighbourhood, with the recent unveiling of five new arts theatres. The theatres are located at Badagry, Epe, Ikorodu, Ikeja, Igando and Lagos Island. Rightly, government’s initiative to bring theatre experience closer to the people through the centres built across the state has been generating positive excitement among creative minds especially across the project locations. The Lagos art theatres are a three-floor edifice, having a 500 sitting capacity hall. On the ground floor, there is the reception and changing rooms for artistes. There is a gallery on the second floor with a restaurant and server area, three offices and a rehearsal room. The floor also has a green room for artistes at backstage. On the last floor are three offices, a toilet and bathroom. This adds to the three

toilets on the ground floor for male and female respectively. The hall is soundproof and has an elevated stage. Interestingly, access for people with disability is guaranteed with ramps provided into the building and hall. During the great depression in the U.S. in the mid-20th century, the government deliberately promoted arts as part of the new deal. Their regionalist intervention was strategic. It boosted creativity, imbued the spirit of patriotism and ultimately created jobs and wealth, which the new generation of Americans is enjoying till today. In the words of Arthur M. Schlesinger, Jr.: “In the third year of the Civil War, Abraham Lincoln ordered work to go ahead on the completion of the dome of the Capitol. When critics protested the diversion of labor and money from the prosecution of the war, Lincoln said, ‘If people see the capitol going on, it is a sign that we intend this Union shall go on.’ Arts theatres in Lagos State are planned to achieve for Lagos what it has achieved for United States of America and other developed world. The development of the theatres would bring immense benefits in so many ways. By serving as venues for hosting different creative programmes and film shows, they will help to elicit more interest and patronage of theatres among Lagosians. They are to harness the potential in the tourism and entertainment sector and also create employment for youths as well as serve as medium of trans-generational preservation of the state’s history and cultural heritage. Rasak Musbau, Lagos State Ministry of Information and Strategy, Alausa, Ikeja

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T H I S D AY ˾ WEDNESDAY JUNE 12, 2019

MIDWEEKPOLITICS

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

NEWSMAKER

Good Start in the National Assembly

Nseobong Okon-Ekong writes that yesterday’s election of principal officers of the 9th National Assembly was relatively free of rancour and offers fresh hope for a harmonious relationship between the executive and the legislature

Gbajabiamila

Lawan

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ith the conclusion yesterday of election of principal officers of the 9th National Assembly, a major phase of the next political tenure has been achieved. Arguably, what is left now for the last leg of the President Muhammadu Buhari administration to take shape is the composition of the Federal Executive Council. The President is expected to send his list of nominees for ministerial offices to the federal legislature soon. The emergence of a new leadership in the National Assembly was a major milestone that many waited with baited breath for. F o r t h e r u l i n g A l l P ro g re s s i v e s C o n g re s s ( A P C ) , t h e e l e c t i o n o f o ff i c e r s t o r u n t h e a ff a i r s o f t h e NASS was a crucial test to ascertain its cohesion and discipline. Following the conclusion of the 2019 national elections, focus shifted t o w h o w i l l p i l o t t h e l e g i s l a t u re . Given that there was a no love lost relationship between the executive and the leadership of the federal l e g i s l a t u re i n t h e 8 t h N a t i o n a l A s s e m b l y, t h e re w a s p a l p a b l e tension in the period leading to y e s t e rd a y ’ s e l e c t i o n . Like it did in 2015, the APC had announced its preferred candidates f o r t h e o ff i c e s , b u t t h e p a r t y w a s not able to get every member to fall i n l i n e . T h i s t i m e , t h e p a r t y h i e rarchy and the federal government had made it clear that their choice included Senator Ahmad Lawan ( P re s i d e n t o f t h e S e n a t e / C h a i rman of the National Assembly); Senator Ovie Omo-Agege (Deputy President of the Senate); Rt. Hon. Femi Gbajabiamila (Speaker, House of Representatives); and Hon. Idr i s Wa s e ( D e p u t y S p e a k e r, H o u s e

o f R e p re s e n t a t i v e s ) . I n d e f i a n c e of this arrangement, Senator Ali Ndume put up a stiff challenge for the senate presidency, while Hon. U m a ru B a g o i n d i c a t e d i n t e re s t i n t h e o ff i c e o f t h e S p e a k e r o f t h e H o u s e o f R e p re s e n t a t i v e s . Afraid that the 2015 scenario, in which Senator Bukola Saraki went against the party’s directive to clinch the leadership of the National Assembly, along with Hon. Ya k u b u D o g a r a a s S p e a k e r i n t h e H o u s e o f R e p re s e n t a t i v e s m i g h t repeat itself, the Presidency, leadership of the APC and the party’s anointed candidates went to work early. They left no stone unturned in their bid to build bridges across p a r t i s a n b o u n d a r i e s . F ro m t h e re s u l t o f y e s t e rd a y ’ s e l e c t i o n , the APC did its homework well this time. The party carried out a t h o ro u g h n e g o t i a t i o n t h a t re a l l y assured members of the opposition that their interest will be covered. S e n a t o r L a w a n s c o re d 7 9 v o t e s , while Senator Ndume had 28 votes recorded to his name. The number of senators who voted in the election stood at 107. The Nigerian senate comprises 109 senators. Two APC senators were absent. All the 47 PDP senators were present. T h e s c o re s h e e t re f l e c t s t h a t t h e winning APC team did well by s e c u r i n g c o m p ro m i s e s f ro m t h e i r colleagues in other parties. A simil a r re s u l t w a s p o s t e d i n t h e r a c e f o r D e p u t y P re s i d e n t o f t h e S e n ate, in which the immediate past Deputy Senate President, Senator I k e E k w e re m a d u , a n o p p o s i t i o n Peoples Democratic Party (PDP) l e g i s l a t o r v i e d f o r t h e o ff i c e . I f h e h a d w o n , E k w e re m a d u w o u l d h a v e o c c u p i e d t h a t o ff i c e f o r t h e fourth consecutive tenure, having worked with Senator David Mark

for eight years and Senator Bukola S a r a k i f o r f o u r y e a r s . H o w e v e r, he was defeated by Senator Ovie Omo-Agege who recorded 68 votes t o e m e rg e w i n n e r. M a l l a m L a n re I s s a - O n i l u , N a t i o n a l P u b l i c i t y S e c re t a r y o f t h e APC described the triumph of the p a r t y ’ s f a v o u re d c a n d i d a t e s i n yesterday’s contest for leadership of the NASS victory of democracy and party politics over the brazen lawlessness of anti-democratic f o rc e s w h o a re n e s t l e d i n t h e o p p o s i t i o n p a r t y. He said, “Our party has consistently maintained that the leadership of the National Assembly belongs to the party in the majority. The outcome of these elections have clearly validated our party’s e ff o r t s t o i n s t i t u t i o n a l i z e p a r t y discipline and loyalty. It is triumph o f i n t e r n a l d e m o c r a c y, a n c h o re d on consensus building, to which we lay claim, over anti-democratic methods that the Peoples Democratic Party (PDP) had foisted on o u r d e m o c r a c y o v e r 1 6 y e a r s . We are deeply humbled by the honour bestowed on our great party. While m e m b e r s o f o u r g re a t P a r t y a re entitled to savour this victory, we call on all to avoid pettiness and t o c o n t i n u e t o s t re t c h h a n d s o f fellowship to progressive forces in other political parties and groups to consolidate our democracy. On the strength of our overwhelming n u m e r i c a l s t re n g t h i n t h e j u s t i n augurated 9th National Assembly and election of the party’s adopted candidates as presiding officers in its two chambers, we must recommit to cooperation between the executive and legislative arms of government.” The APC spokesman’s concern for cooperation between the legislature

and the executive may have been highlighted in the pattern of votes re c o rd e d i n t h e N A S S e l e c t i o n s , which clearly shows the legislators have decided to consider the larger interest of building consensus and c o o p e r a t i o n a s a g a i n s t p a ro c h i a l party alliances. For instance, it is clear that all the PDP legislators did not vote for Ekweremadu. The f o r m e r D e p u t y S e n a t e P re s i d e n t was accused of entering into a selfish arrangement with the APC in a bid to retain his position. His insistence on entering the race was believed to have split the votes and t h e c o h e s i o n i n h i s p a r t y. T h o u g h Omo-Agege carries the blame for his alleged role in vandalizing the National Assembly, during which the mace was stolen by hoodlums, his colleagues still opted to vote for him against Ekweremadu who has been in that office for 12 years. A s i m i l a r v i c t o r y w a s re c o rd e d in favour of Femi Gbajabiamila who is the new Speaker of the H o u s e o f R e p re s e n t a t i v e s . I n t h e days leading to the election, it looked like his ambition was going to be derailed by an unproven allegation that he had a criminal re c o rd . A s t h i s a c c u s a t i o n c o u l d n o t b e s u s t a i n e d , h e re m a i n e d i n the race. Opponents have accused Gbajabiamila of being so desperate f o r t h e o ff i c e o f S p e a k e r t h a t h e promised 60 PDP legislators juicy committee positions if they vote for him. Gbajabiamila was elected with 283 votes while Umar Bago got 76 votes. The instructive note about the e l e c t i o n o f p r i n c i p a l o ff i c e r s f o r t h e 9 t h N A S S i s t h a t i t w a s f re e o f r a n c o u r. T h e f e d e r a l l e g i s l a tors demonstrated that they could forget party affiliation to work for the greater interest of the country.

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T H I S D AY ˾WEDNESDAY JUNE 12, 2019

ANALYSIS

‘Abiola Should be Named Former President’ Shola Oyeyipo holds a conversation with Dr. Josephine Obiajulu Okei-Odumakin, a rights activist, who commends President Muhammadu Buhari for honouring the late MKO Abiola, widely acknowledged as winner of the June 12, 1993 presidential election. She, however, urged the Buhari administration to close the June 12 saga by naming Abiola a former president

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hat is your overall view of June 12? June 12 remains a watershed about free choice, ballot integrity and a constant reminder to us that whatever we have today as civil rule/ democracy is a product of the sacrifice of Nigerians, Chief MKO Abiola and the many persons who fought for the enthronement of democracy in our country. In what ways do you think Abiola’s sacrifice has influenced politics in Nigeria? The ultimate sacrifice made by Chief MKO Abiola remains the foundation upon which the existence of our politics in Nigeria today is built. Though many of our current political actors refused to acknowledge this and have continually acted contrary to the ideals of June 12. What do you consider as the significance of immortalizing MKO Abiola? The sacrifice Abiola made for us should not to be forgotten. June 12, therefore, cannot be ignored by the family and the government. It will help the coming generations to value our hard-earned democracy. Do you think Nigeria has honoured the late MKO appropriately? The courageous decision of President Buhari’s administration to recognise June 12 as Nigeria’s Democracy Day is very commendable, and it is a good step in honoring MKO Abiola. But we still our demand, that the National Assembly formally pass a legislation that recognises Chief Abiola as a former president of Nigeria. What more would you want to see as regards immortalizing Abiola? We would want that Chief MKO Abiola should be officially recognised as a former president of Nigeria, and all entitlements due to the office, paid to his family.

????

How do you want that done? The result of June 12 should be pub-

lished in a gazette. The 9th assembly should pass a law for a posthumous declaration of Abiola as ex-president

and should approve the entitlements due to him as former president of Nigeria.

‘NADECO Misled Abiola’

Segun James dialogues with Chief Abimbola Moyosore Aboderin, one of the closest associates of Chief MKO Abiola, on the June 12 presidential election that was later annulled by the government of former military president, General Ibrahim Babangida. The election was presumably won by Abiola

T

he story of June 12 has been told by several people, yet there are mysteries concerning it. You were one of the few who played a prominent role in the saga. Can you tell us what really happened? I was one of the few people that played prominent roles in the events before, during and after the June 12 saga. I was there from the beginning to the time he won the election and up to the time he was arrested and even after that. Three of us; Chief Lamidi Adedibu, Abiola’s personal lawyer and now traditional ruler in Ibadan, Chief Abimbola Ajibola and I were the coordinators of the Abiola campaign for the presidency. I was a member of the Finance and Campaign Committee for the election, MKO Abiola’s highest caucus. I got to know Abiola through my father, Chief Moyosore

Aboderin who was a First Republic politician along with Chief Awolowo and others. At the Jos convention of the Social Democratic Party (SDP), Gen. Shehu Yar ’Adua persuaded Atiku to step down for Abiola following pleadings from Chief Adedibu who had helped Yar ’Adua to win the first convention that was cancelled. Chief Adedibu was vilified for his role in the Yar ’Adua victory in Yorubaland. After Atiku stepped down, the question as to who will be the deputy to Abiola came up. That was when the situation changed. That was when the problems started. Former milirary President Ibrahim Babangida recommended two people; former president of the Nigeria Labour Congress (NLC), Mr. Pascal Bafyau and Alhaji Maitama Sule, but after some brainstorming, Chief Adedibu advised that he (Abiola) should pick Babagana Kingibe because he was

the party’s chairman and he could prove a stumbling block against us. That was how the events that led to the annulment began because IBB never liked that decision. Chief Segun Osoba, the former governor of Ogun state is a living witness to all the events. What about the NADECO, a group that also played prominent role in the struggle to actualize June 12 after the annulment? The annulment was the saddest and darkest day in our political history. On the day after the election, many of us were at Abiola’s house to celebrate the victory. It was a great day. The next morning, I woke up to hear that the election had been annulled. It was the saddest day of my life. I later spoke to the lawyer who advised that we leave immediately for Ibadan to speak with Chief Afe Babalola. We met. He was shocked by what hap-

pened. From there, we left for Abuja to start the legal battle. In the middle of these confusion, Abiola suddenly disappeared. We didn’t know where he was. Adedibu could not find him, not even the lawyer. We didn’t know that the NADECO people had taken over. One day, as I was driving towards Maryland, I was shocked to see him in an open-roof car with a crowd of people following him. Then, I didn’t know what National Democratic Coalition (NADECO) was. I asked myself, does this man not know who the military people are? I never knew that he had just declared himself the president. That was during the time of Abacha. Afterwards, Abiola was arrested. Chief Arisekola was a friend of Abacha who waded into the crisis. He was able to convince Abacha that Abiola should be given a conditional release but the NADECO people said no. Of course, Abiola was never released.

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FEATURES

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

For Lagosians, All Eyes on Roads As the new Lagos State Governor, Mr. Babajide Sanwo-Olu, settles down to govern, bad roads and refuse are part of the areas residents urgently want him to address, writes Davidson Iriekpen

At Badagry-Mile 2 Expressway, chaos reign supreme

I

t was jubilation for Lagos residents who daily ply the Lagos-Badagry expressway as the state Governor, Mr. Babajide Sanwo-Olu, last week announced that work would soon commence at the Maza Maza-Iba junction up to Okokomaiko end of the road. He made the announcement when he toured the Badagry road and other areas to see the level of dilapidation and what the people are suffering in the course of moving from one place to the other. This axis of Lagos, like most other parts of the state, was completely abandoned in the four years of former Governor Akinwunmi Ambode. This made residents to suffer untold hardship moving from one place to the other. Sanwo-Olu said there would be a major clean-up of the road from National Theater to Maza-Maza, urging the traders who display their goods on the road to desist from doing such. He expressed dissatisfaction with the environmental situation in the area characterised by the huge pile of refuse, saying a task force would be constituted to carry out massive clean-up in the area. The governor said he would “ensure that

All over the world, one of the indices of visible development are motorable roads but in Lagos and other parts of the country, not only are the roads bad, they are death traps. From expressways to the inner roads, it is a tale of neglect and abandonment, promises delayed or even out rightly forgotten, as Lagosians groan under dilapidated roads littered with crater-sized potholes and gullies

During the rainy season, the situation gets worse the commerce in the Western axis of Lagos come back; that is why we have come here. We should be able to complete the road from Maza-Maza to Okokomaiko before the end of the year or beginning of next year with the needed funds to do it.� He disclosed that the state government would work with the federal government on the Okokomaiko, Agbara to Seme Border section of the road. He also visited the Lagos Homes in Igando and Iyana Ipaja to Abule Egba for inspection of construction works not yet completed and promised to complete them. Also speaking with Muslim faithfuls at Lagos House, Alausa, Ikeja to mark 2019 Eid-el-Fitri, Sanwo-Olu informed the gathering that his government will soon release emergency hotlines to the public to call the state public works for immediate fixing of potholes and roads that need urgent repairs. Knowing how Lagosians crave for good roads,

the governor, a day after his inauguration, had signed an executive order, directing the state Traffic Management Authority (LASTMA) to run at least two shifts and work till 11p.m and the state Public Works Corporation to commence patching and rehabilitation of bad roads to address the perennial problem of traffic in the state. He said the order would also ensure the attainment of zero tolerance for environmental abuse, including illegal and indiscriminate dumping of refuse and construction of structures on drainage points and setbacks. No doubt, bad roads and refuse are going to be two areas where Lagosians are going to constantly rate the performance of the Sanwo-Olu government from the time to time. In these two areas, the immediate past administration of Ambode was adjudged to have done abysmally. Apart from the Airport, Berger and a few others areas, the former governor neglected a large

part of the state, particularly the suburbs. All over the world, one of the indices of visible development are motorable roads but in Lagos and other parts of the country, not only are the roads bad, they are death traps. From expressways to the inner roads, it is a tale of neglect and abandonment, promises delayed or even out rightly forgotten, as Lagosians groan under dilapidated roads littered with crater-sized potholes and gullies. Important roads in Anthony, Yaba, Mafoluku, Oshodi, Ogba, Ojudu, Ketu, Agege, Mushin, Surelere, Shomolu, Bariga, Shomolu, Oke-Odo, Ikotun, Iyana Ipaja, Abule-Egba, Ojo, Satellite Town, Mafoluku, Okota and other areas are in a terrible state. The depth of gullies at the Agege Motor Road by Mushin Bus-Stop is simply unbelievable. Mushin-Isolo-Ikotun Road is a long and narrow stretch connecting commerce and residential areas in the state. Come day or night, weekday or

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FEATURES weekend, the road is perpetually on lockdown. Repair works that were recently carried out in between Ile-Iwe Metta, Aye and Ire-Akari had been washed off. Same for Kogberegbe junction, Pako Roundabout, Jakande-Gate, NNPC Junction, Iyana-Ejigbo, Powerline bus stop, Agodo, Ile-Iwe and the descent inwards Ikotun roundabout. The narrative is not any different commuting from Ile-Iwe Ejigbo inwards Oke-Afa and Ajao Estate. The ever-busy Ikorodu Road and Western Avenue are not spared. Failed portions dot most bus-stops, hindering free flow of traffic and causing accidents. From time to time, people have questioned the whereabouts of the state government and even the local governments. In the past, while the state government concentrated on major roads, local governments were given the task of fixing some inner roads. Under the immediate past government, the two tiers of government went to sleep, leaving the people to suffer. Lagosians spent more time constantly repairing their vehicles due to the state of roads in city. To bring development closer to the people, that state government in 2004 created out 37 development councils from the existing 20 local government areas, yet nothing has changed. This is why Lagosians feel that under the Sanwo-Olu government, things must change. He must put the local governments and council development areas to work for the benefit of Lagosians. So bad are roads and other infrastructure in the state that The Economist Intelligence Unit and World Bank in their 2018 Global Liveability Index recently, ranked it the third worst city for humans to live in the world. The state was ranked 138 out of the 140 cities considered for the ranking. This, however, was a slight improvement from the 2017 ranking, where the country was ranked 139th out of 140 cities on the index. According to the ranking, Lagos only outperformed Dhaka in Bangladesh and Damascus in war-torn Syria. Out of an overall score of 100, Lagos was rated 38.5 points. The ranking was based on social stability, healthcare, education, culture and environment and infrastructure. Other African cities that featured on the index were Dakar (Senegal), which was ranked 131 out of 140; Algiers (Algeria) – 132; Doula (Cameroun) – 133; Tripoli (Libya) – 134 and Harare (Zimbabwe) – 135. Vienna, the Austrian capital, was ranked the most liveable city in the world, as Melbourne finally lost the title after a seven-year reign. The Japanese city of Osaka was adjudged the third most liveable city. To know that the state government gets about N50billion monthly from both internally generated revenue and allocation from the Federation Account, yet the roads are bad is most annoying to residents. Initially, to divert attention and exonerate itself from the accusation of incompetence leveled against it, one of the dummies the state government sold to the people was to designate some roads as federal roads and regularly blame the federal government for neglecting the state. This narrative has since been defeated with the All Progressives Congress (APC) controlling the federal and state governments and a former state Governor, Babatunde Fashola leading the

Beyond releasing emergency hotlines to the public to call the state Public Works for immediate ďŹ xing of potholes and roads that need urgent repairs, Lagosians feel that Sanwo-Olu should frequently visit every nook and cranny of the state to see things for himself and what the people are suffering in order to address them

Governor Babajide Sanwo-Olu during his on-the-spot assesment of the Lagos-Ibadan Expressway

The governor and his entourage on the expressway

The sidewalk of the ďŹ xed portion of the expressway is still an eyesore Federal Ministry of Works. When Ambode assumed power in 2015, his first task was to complete the road projects which his predecessor failed to complete before leaving, immediately winning the hearts of Lagosians. Such road projects were Ago-Palace road up to Cele Bus Stop and others. Soon after, he embarked on flyovers in Ajah, Abule-Egba, Pen Cinema. In no time, the governor was

hailed as a messiah. But all the praises showered on him soon vanished as Lagosians found it difficult to drive through even less busy roads. That was when it dawned on them that he had failed. Today, some portions of these same roads cause motorists nightmare. Lagosians feel that one of the reasons why Ambode failed was his total disconnection from the people. They allude to the fact that

he was hardly seen and felt by the people. This is why beyond releasing emergency hotlines to the public to call the state Public Works for immediate fixing of potholes and roads that need urgent repairs, Lagosians feel that Sanwo-Olu should frequently visit every nook and cranny of the state to see things for himself and what the people are suffering in order to address them.

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WEDNESDAY JUNE 12, 2019 • T H I S D AY

OFFICE OF THE AUDITOR-GENERAL FOR THE FEDERATION Plot 273 Samuel Ademulegun Avenue, Central Business Area, Abuja

CONGRATULATIONS!

MR. PRESIDENT ON YOUR GRAND INAUGURATION FOR

SECOND TERM IN OFFICE & DEMOCRACY DAY CELEBRATION

His Excellency, President Muhammadu Buhar i, GCFR President & Commander-in-Chief Federal Republic of Nigeria

Her Excellency, Mr s. Aisha Buhar i Wife of the President

Management and Staff of the Office of the Auditor-General for the Federation rejoice with and wish our President, Muhammadu Buhari, GCFR, and his dear wife, Mrs. Aisha Buhari, a most successful second tenure in office, good health and victory in the War Against Corruption to the Glory of Almighty God. Mr. Anthony Mkpe Ayine, FCA Auditor-General for the Federation

appy emocracy ay

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T J U N E

REPO 11.43% 10.86%

CALL 1-MONTH 3-MONTH

11.50% 12.25 % 12.63%

7 ,

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

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

2 0 1 9 393.05%% -0.52% -0.48

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

1.67% 10.11%

EXCHANGE RATE N306.95/1US DOLLAR* ĚŠ

Quick Takes CIIN Celebrates 60th Anniversary

PROMOTINGTECHNOLOGY

L-R: Co-founder and Partner, Verod Capital Management Limited, Eric Idiahi; Chief Operations and Information Officer, Fidelity Bank Plc, Gbolahan Joshua; Managing Partner, Synergy Capital Managers, Dr. Akintoye Akindele; and Managing Partner, Sefton Fross, Olayemi Anyanechi at theTechMoney Africa 2019 conferencewhichtookplaceattheUniversityofLagos,Akoka,LagosState‌recently

CEOs Harp on Digital Reinvention for Business Transformation Oluchi Chibuzor Two-thirds of chief executive officers (CEOs) believe that agility is the new currency of business and that if they don’t adapt, their business will become irrelevant, a report by KPMG has stated. According to the survey, CEOs are faced with a stark choice. In the face of unparalleled environmental, economic and technological change, they are looking to grow their businesses by creating the organisational agility to disrupt existing business models and challenge long-held market orthodoxies, the report added. According to the fifth KPMG International Global CEO Outlook, just over half of CEOs were

ECONOMY confident they would succeed but were realistic, with 53 per cent projecting cautious threeyear growth of up to two per cent (down from 55 per cent in 2018). As with 2018, the survey findings showed that the chief executives also maintained a positive three-year growth outlook for the global economy, even though this slightly fell from 67 per cent to 62 per cent, over the last 12 months. This confidence was also shown by their commitment to hire, with 36 per cent of CEOs projecting to add more than six per cent to their workforce in the next three years.

“A successful CEO now needs to be an agile CEO,� the Global Chairman, KPMG International, Bill Thomas, was quoted to have said. “Succeeding in a world of volatility and uncertainty requires different leadership skills, particularly in large, multi-national organisations. “It’s no longer a question of simply defending your position and using scale to maintain competitive advantage. “Today, CEOs need to be comfortable disrupting their business models by forging new strategic partnerships, considering alternate M&A strategies and increasing the skills of their workforces.� According to the report, CEOs named climate change

as the biggest risk to their organisation’s growth, the first time in five years it was rated a top concern compared to technological, territorial, cyber and operational risks. But with only a small margin between each of them, it paints a picture of a complex and ever-shifting risk landscape. “A majority of CEOs (84 percent) believe a ‘fail-fast’ culture is required in today’s marketplace, in which lessons from failures are learned quickly, yet only 56 percent say that kind of culture is in place in their organisation. “Eight out of ten CEOs (84 percent) are looking to change the makeup of their leadership teams to disrupt the status quo,� Continued on page 24

Nigeria, Morroco, Others Generate $66.7bn Insurance Premium Ebere Nwoji Nigeria, Morocco and other African countries in 2018 generated $67.7 billion insurance premium income. The positive development was attributed to positive exchange rate development, in particular, the strengthening of the South African rand against the US dollar, which aided regional premium growth rate to rise to 12 per cent in US-dollar terms from $59.4 billion in 2016, reversing the trend of previous years when African growth rates were negative due to depreciation

INSURANCE of African currencies. According to the fourth Africa Insurance Barometer, launched at the ongoing 46th Conference & General Assembly of the African Insurance Organisation (AIO) in Johannesburg, South Africa, the continent’s insurance markets have returned to a more stable environment following the deep and sudden economic downturn in 2015/16. On an inflation adjusted-basis, overall insurance premiums increased by 0.5 per cent in

2017, which was ahead of the growth in advanced markets (-0.6%), but below the 10.3 per cent volume growth for the world’s emerging markets. In Africa’s largest insurance markets, total real premium growth was positive in Egypt (+9.8%), Namibia (+7.8%) and Morocco (+3.0%), stagnant in South Africa (+0.1%) and negative in Nigeria (-10.5%), Algeria (-2.8%) and Kenya (-2.0%). The annual survey conducted among the CEOs of Africa’s primary insurers showed that the industry continued to benefit from its underlying

growth story, the resilience that it demonstrated during the downturn and a strengthening regulatory framework. Reacting on the report, Prisca Soares, Secretary General of the African Insurance Organisation said, the mood among Africa’s insurance executives polled for this year’s Africa Insurance Barometer is slightly more cautious than last year. According to her, “Following the deep recession of 2015/16, insurers are less bullish. The crisis exposed Africa’s continued vulnerability to external Continued on page 24

The Chartered Insurance Institute of Nigeria (CIIN) is set for the celebration of its 60th anniversary. CIIN, Nigeria’s premier professional Institution said it has lined up a schedule of activities to this eect in order to demonstrate its contributions to the development of manpower in the country, in the past 60 years. A statement from the institute, said the 60th year anniversary which has the theme: “Diamond legacies, Driving Growth,â€? is targeted at acknowledging the institute’s commitment to its duty as the rallying point for insurance professionals in Nigeria. It said to celebrate the milestone, the various activities lined up by the institute would kick o with a Jumat and Church Service. Other highlights of the anniversary celebration would include, a charity event and a public Lecture. “The week-long activities will come to a climax with a Gala Night and the launch of the institute’s compendium chronicling the landmarks of CIIN in the last 60 years. The anniversary celebration is billed to run from Friday, August 2nd, 2019 to Thursday 8th, 2019. The institute enjoins all stakeholders to take part in the celebrations that have been earmarked to announce 60 years dedication to the development of manpower for the growth of the insurance industry and the National economy. The CIIN, was established in 1959 and charged with the responsibility of determining the standards of knowledge and skills to be attained by persons seeking to become insurance professionals in Nigeria.

Rotary Commits $100m to Fight Polio

Rotary is giving US$100 million in grants to support the global eort to end polio, a vaccine-preventable disease that once paralysed hundreds of thousands of children each year. The funding comes as Rotary and its partners in the Global Polio EradicationInitiative(GPEI)addresstheďŹ nal—andmostpressing— challengestoendingpoliovirustransmission,andasNigeriaapproaches three years without any reported cases of wild poliovirus, bringing the Africa region closer to polio-free status. “Routine immunisation in high-risk states is helping us prevent new cases of wild polio,â€? said Dr. Tunji Funsho, chair or Rotary’s Nigeria PolioPlus Committee. “Although the polio infrastructure has become stronger and allows us to also respond to other serious health concerns, we must remain committed to ensuring the political and ďŹ nancial support necessary to ending polio in Nigeria and around the globe for good.â€? Whiletherewereonly33casesofwildpoliovirusreportedin2018,the last mile of eradication has proven to be the most diďŹƒcult. Barriers to eradication--like weak health systems, insecurity, and mobile and remote populations--must be overcome. As long as a single child has polio, all children are at risk, which underscores the need for continued funding and commitment to eradication. To support polio eradication eorts in endemic countries, Rotary is allocating half the funds it announced today to: Afghanistan ($16.3 million),Nigeria($10.2million),andPakistan($25.2million).Additional funding will support eorts to keep vulnerable countries polio-free: The World Health Organisation (WHO) will receive $1.3 million to conduct research, and will also receive support for surveillance activities in its Africa ($10.9 million) and Eastern Mediterranean ($4 million) Regions.

Ethiopia Forecasts 9% Growth

Ethiopia’seconomyisprojectedtogrowbyninepercentin2019/2020, its ďŹ nance minister Ahmed Shide told lawmakers onTuesday as he presented plans to raise spending. Ahmed proposed 386.9 billion birr ($13.48 billion) in government spending for 2019/2020, which if approved will be 12 per cent higher than 2018/19’s 346.9-billion-birr ďŹ gure. Lawmakersfromtherulingcoalition,whodominateparliament, are expected to approve the plans over the next few weeks. The InternationalMonetaryFundprojectedthecountry’sgrowthfor2019 at 7.7 per cent in April. Prime Minister Abiy Ahmed came to power in 2018 and embarked on ambitious reforms, including proposals to open up the state-owned telecoms ďŹ rm and the national carrier Ethiopian Airlines to private investors.

“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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CEOS HARP ON DIGITAL REINVENTION FOR BUSINESS TRANSFORMATION it added. The survey showed that cyber continued to be high on the CEOs’ agenda, despite falling from the second highest risk last year to fourth this year. In 2019, a larger group of CEOs (69 per cent, compared with 55 per cent in 2018) said a robust cyber security strategy was critical to driving trust with key stakeholders and most (71 percent) view information security as a key factor in their broader innovation strategy. “For many CEOs, M&A presents the best opportunity to upgrade digital capabilities with pace. A proactive M&A strategy is on the agenda for 84 percent of CEOs who have a moderate or high M&A appetite for the next three years. “Driving this appetite is the ability of M&A to transform a business model faster than organic growth. NIGERIA, MORROCO, OTHERS GENERATE $66.7BN INSURANCE PREMIUM shocks. “In addition, the prospects for the global economy and for global trade have reduced for the near-term future. However, with the availability of technology and an expanding middle class, awareness and the understanding for the benefits of insurance are improving among policymakers, regulators and consumers. This will generate additional impulses for the industry.� The Outgoing President, African Insurers Association(AIO), Mrs. Aretha Duku-Gia, said low insurance penetration in Africa presents an opportunity for growth, urging insurance operators to use the huge population of the continent to their advantage. Highlighting the barrier to low insurance penetration, she said, micro economic, cultural and religious sentiments as well as low education are challenges that must be addressed for African insurance industry to compete favourably in the international market.

Group Business Editor

LCCI Calls for Measures to Hedge against Economic Headwinds Chris Uba The council of the Lagos Chamber of Commerce and Industry (LCCI) has called for proactive measures to hedge the economy from imminent headwinds. The first of these measures, is a concessionary tax rate for small and medium sized enterprises (SMEs), in order to promote job creation and inclusive growth as enshrined in the Economic Recovery and Growth Plan (ERGP). The chamber’s position which was contained in a communiquĂŠ of its council meeting, signed by its DirectorGeneral, Mr. Muda Yusuf, said the need for concessionary tax relief for SMEs became imperative because “small businesses are more vulnerable to the current challenges in the economy, hence the high mortality rate. “This group of businesses, therefore, deserves every support that the government can give.â€? The meeting also expressed concern about the persistent delays in the issuance of the Pre-Arrival Assessment Report (PAAR) to importers by the Nigeria Customs Service. This situation, it said, was contributing to cost escalation for many businesses as cargoes are delayed unduly leading to the payment of avoidable demurrage and high interest

cost on borrowed funds by importers. “The protracted delays in the issuance of PAAR is a negation of the policy of the government on Ease of Doing Business,� it stated. The LCCI therefore calls on the Comptroller General of the Nigeria Customs Service, to urgently intervene to put an

end to the persistent delays in the issuance of PAAR. The LCCI also expressed concern about the investigating activities of anti-graft agencies and regulatory institutions regarding alleged infractions by corporate organisations. It admonishes that such investigation, as much as possible, should be conducted in a

discreet manner devoid of any form of media hype. “This is necessary to avoid unwarranted reputational damage and erosion of investors’ confidence,� it said, adding that, “this position does not diminish the significance of compliance by corporate organisations with extant laws and the imperative of proportional sanctions for

proven cases of infringements of the law.� As a leading advocate of sound corporate governance in the country, LCCI stressed the need for proper coordination between regulatory institutions and anti-graft agencies in dealing with suspected regulatory infractions to avoid duplication of investigative actions.

MEDIA BRIEFING

L-R:ExecutiveSecretary/CEO,NigerianShippers’Council(NSC),HassanBelloandViceChairman,PresidentialTaskForceonApapaGridlock,KayodeOpeifa, atapressbriefingontheactivityofthetaskforceinApapa,Lagos...recently

Stanbic IBTC Appoints New Board Members Ebere Nwoji Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings has announced a new appointment into its board. The appointment, which also took place in the board of other sister companies in the Stanbic IBTC holdings are expected to bring fresh thinking and ideas as well as energy into the Group’s operations. Those affected by the appointment included Stanbic IBTC Bank, Stanbic IBTC Asset Management Limited, Stanbic IBTC Pension Managers Limited, and Stanbic IBTC Insurance Brokers Limited. According to a statement from the group, Mr Adekunle Adedeji was promoted to the position of executive director Stanbic

IBTC Holdings Plc, effective February 22, 2019. Adedeji, who has over 20 years experience, is also Stanbic IBTC Group’s Chief Financial Officer. He had a similar experience with Stanbic Ghana. Adedeji has worked with Ernst & Young and belongs to several professional institutes, including the Institute of Chartered Accountants of Nigeria. Also, Mr Barend Johannes Kruger, was appointed a nonexecutive director for Stanbic IBTC Bank effective from May 20,2019, following the receipt of all required regulatory approvals. Kruger had previously been appointed to the board of Stanbic IBTC Holdings Plc in January 2019. Thus, he will now serve on both the HoldCo and the bank boards as a non-executive director.

Kruger is a chartered accountant with over 30 years experience in the financial services industry. Also appointed to the board of the bank, following regulatory approvals, was Ms Rabi Isma as an Independent non-executive director, effective from May 9, 2019. Isma has extensive experience in the telecoms industry with 9Mobile and Etisalat Sri Lanka. She has previously worked for the British Council in Nigeria and served as special adviser to the governor of Kano State. Isma has multiple certifications and has attended several executive programmes, both at the Harvard and Michigan Ross Business Schools, United States of America. Mrs Bunmi Dayo-Olagunju,

was also appointed Executive Director, Operations, for the bank. Prior to this, Mrs. DayoOlagunju was Deputy Head of Operations and also previously served as Chief Executive of Stanbic IBTC Asset Management Limited, the Group’s Asset Management subsidiary. She has over 20 years of experience in the financial services industry having worked in different capacities across the subsidiaries of Stanbic IBTC Group. Similarly, Mr. Dele Sotubo, replaced Mrs. Dayo-Olagunju, as Chief Executive of Stanbic IBTC Asset Management Limited effective February 12, 2019; Mr. Olumide Oyetan was appointed Executive Director, Investments, Stanbic IBTC Pension Managers

Limited with effect from March 1,2019; Mr. Charles Emelue was appointed Executive Director, Operations, Stanbic IBTC Pension Managers Limited on April 1, 2019, while Ms. Sakeenat Bakare was appointed Executive Director for Stanbic IBTC Insurance Brokers Limited, effective February 26th, 2019 Commenting on the appointments, Chief Executive, Stanbic IBTC Holdings, Mr Yinka Sanni, said: “We are pleased to entrust these individuals with new responsibilities and look forward to benefiting immensely from their wealth of knowledge and experience as we enter the next phase of our growth. “In filling these roles, we identified our priorities and these individuals fit into our growth objectives.�

Some of the training programmes included those organised by Curators University to train youths on Artificial Intelligence (AI); EdoBits, for school leavers who wish to develop expertise in technology; LinkedIn meetup sessions, among others. She explained that relevant industry stakeholders have provided the support that has led to the success of the Hub in the last one year, ensuring that

there was continuous activity at the Hub. EdoJobs boss said: “We have trained more than 1000 young people on technology in various areas, including gender-sensitive areas, where women were the focus of the intervention. “We have received support from a long list of industry giants and more are still lining up to partner with us. So, it has been an eventful journey.�

Obinna Chima

Capital Market Editor

ÙÎÎã Ă‘Ă?Ă˜Ă? 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)

Edo Innovation Hub Lists Gains Sunday Okobi As the Edo Innovation Hub marks its one-year anniversary this month, the state government has said the tech centre is changing the technology ecosystem within the state and the south-south geopolitical zone. The state also said the hub was providing room for capacity building and technology-driven solutions

to everyday problems. In a statement issued by the Senior Special Assistant to the state governor on Skills Development and Job Creation and Head, Edo State Skills Development Agency (EdoJobs), Mrs. Ukinebo Dare, the state government was working closely with major stakeholders in Nigeria’s technology space to ensure more high-impact innovations are birthed at the hub to boost wealth creation

among Nigerians. Dare further stated that: “We are marking the one-year anniversary of Edo Innovation Hub, also known as Edo Innovates. There is no denying that we have recorded immense success in the area of capacity building in the technology ecosystem. “The hub is an expression of Governor Godwin Obaseki’s desire to groom youths to become change agents using technology.�

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Fidelity Bank, WhoGoHost to Support SMEs Oluchi Chibuzor Fidelity Bank Plc has disclosed it has entered into a partnership with WhoGoHost, a web-designing company to provide value-added services for small and medium enterprises (SMEs) in the country to have online visibility. The partnership according to the bank was to ensure Nigerian entrepreneurs and small business owners have wider coverage in terms of customer base and to improve their profitability. Speaking in Lagos, at the bank’s SMEs Forum, a radio talk show, the Executive Director, Shared Services & Products, Fidelity Bank, Mrs. Chijioke Ugochukwu, said as an SMEfocused institution the bank was committed to providing platforms for MSMEs build capacity. Represented by the Divisional Head, Managed SMEs, Mr. Osaigbovo Omorogbe, she said the initiative would

help deepen online visibility of various business owners registered under their SMEs banking products. She said consistent with the larger Fidelity Bank’s mission of making financial services easy and accessible to customers and its avowed commitment to continually instituting platforms to help MSMEs build capacity, it was equally important to have online presence. According to her, “The bank recently entered into a partnership with WhoGoHost to provide value-added, significantly discounted offerings of websites and hosting to small business owners who subscribe to our bank’s tailored SMEs Banking products and services. “Indeed, as an SME-focused bank, we are happy to create yet again, another sustainable, low cost platform to help SMEs establish and deepen their online visibility in pursuit of sustained growth for their businesses.� Commenting on the partner-

ship with the bank, the Chief Executive Officer (CEO), WhoGoHost, Mr. Toba Obaniyi, reiterated the importance of having online presence. Obaniyi, said this would give start-ups comparative advantage over their peers. “Through this partnership we have a lot of products to deliver to different range of SMEs who do not see getting online as an investment, because it is critical for the success of their business as many have been disrupted by competitors who leverage on getting their business online. “The partnership is aimed to get more business online through our hand-holding programme, education and improved customer services, because I have engaged with people who struggle getting online because they do not know who to get to or because they have had bad experiences with people who did not delivered as promised,� he noted.

Delta Promises to Fix Well-head Fire Sylvester Idowu in Warri Relief has come the way of indigenes of oil-rich Polobubo (Tsekelewu) community in Warri North Local Government area of Delta State as the state government has promised to intervene in the raging oil well head being operated by Chevron Nigeria Limited in the area. The Deputy Governor, Kingsley Otuaro, who gave the assurance while addressing protesters from the community in Warri, assured of government’s commitment to finding lasting solutions to their environmental, health and socioeconomic demands. He also assured that government would put together a visiting team, in conjunction with Chevron Nigeria Limited, the operators of the burning oilwell head, to the community by

tomorrow to proffer solutions. Otuaro, was drawn by the massive, placard wielding protesters, who braved the heavy downpours, forcing him to stop his convoy to attend to the protesters. They were led by community leaders including the National President of Polobubo (Tsekelewu) National Council (PNC), Mr. Ebilate Mac-Yoroki; Chief Mathew E. O. Tiemo the Secretary of PNC, Mr. Midwest Kukuru; and Hon. Dickson Asoki. The community, in a position paper presented by Mac-Yoroki, lamented the dire situation the well-head fire had subjected the health of the people and their environment to. He lamented the lack of concern or empathy by the company operating the facility, adding the community had fallen under serious health and environmental

threats because the water and air had been contaminated by oil, gas and black soot. According to him, the fire from the well-head worsened since last week, releasing a huge cloud of smoke over the community, which has been raining gas, oil and black soot on the community and causing serious health and environmental concerns as well as hunger and lack of water. “The spewing substance, which we have every reason to believe to be crude oil and gas, is clouding above the whole community and coming down like rain or dew. “Since this is what we have been having to inhale, we have cause to believe that it is the reason that many of our children are currently sick, running high temperature every night, we have even had many cases of convulsion as well as loss of blood.

Entrepreneur Launches Audio-visual Classroom App A Nigerian entrepreneur and the founder of Save-A-Lot Media Limited, an education technology start-up, Akeem Salami, is set to unveil African first indigenous audio-visual classroom App, designed to help students globally learn with ease. The launch which is scheduled to hold on June 19, in Lagos, would mark the introduction of Africa’s first indigenous education application to be introduced from Nigeria for global use. The proposed classroom-based App, when launched, would address learning and retention challenges which leads to massive examination failure among students. It would also help cater for others who have dropped out of the school system, while equally reshaping the existing system of learning which does not accommodate learners’ mental capacity. Salami, expressed delighted about the unveiling, saying it would be Africa’s first home grown education solution to the global

community. “We shall be launching Africa’s first indigenous classroom App designed to enable students in Nigeria, other African countries and globally, learn classroom based education on the go using audio-visual and mobile technology. When it is launched, it will be available on popular mobile App stores. “Our findings show that the problem of learning and retention are huge and are responsible for academic failures. As such, our design is a well thought-out novel and interactive audio-visual learning solution aimed at helping students in secondary schools, higher institutions as well as professionals including candidates for international examination achieve seamless academic excellence.� With the App, he said users would be able to learn at any time and at their own space and speed, adding, “To reduce the problem of examination failure in public examination,

we have given priority to the West African Examination Council (WAEC) and JAMB syllabuses in our flagship contents ready to be launched. It will surely be a wholesome education solution. “Today, digital education is one of the new pop culture globally and it is the way to go, especially with the increasing use of mobile phones in Nigeria and most parts of the world.� He noted that the App is for all races, “Though the App is original to Nigeria and Africa, it is designed for all races and colours, because knowledge is universal. This evidence-based, virtual mobile classroom technology is our own way of contributing to the redefinition of the education sub-sector. “We are inviting various stakeholders including students, school owners, investors and government to come witness this unique tech solution that we have developed to solve observed learning challenges.�

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Your Looks Matter Determine Your Altitude! I have a friend who says, “the way you look is how you will be addressedâ€?. Just this morning, my husband was looking at some pictures of the new governors and marveled at how good looking some of them were compared to those who left office. It’s possible, that some of them were elected for their good looks. In addition to other attributes. How many of you have noticed during open competitions, the good looking girl or boy gets the best votes? You will all recall when Susan Boyle won British Idol, a lot of talk went into how she looked despite the fact that she had a fantastic voice and could not help but win, and you could not fault her talent. Even though she won, she has not been commercially successful compared to “better lookingâ€? contestants. This same scenario happens in the work place. We see colleagues who are very sound technically, can solve any problem not moving up the higher echelons of the organization because of their looks and presentation. In addition, does it really matter? Does your look affect getting hired, getting promoted and making more money? Most times, we want to believe that career success is strictly a result of talent, drive and skill set. Let me tell you for free that it is not. “For women, appearance is even more pivotal to their careers. Research gives us a few clues into how a woman’s appearance may influence her advancement ability. A study conducted by NYU sociologist Dalton Conley and NYU graduate student Rebecca Glauber found that women’s weight gain results in a decrease in both their income level and job prestige. By contrast, men experience no such negative effects. A more recent study designed and executed by researchers at Harvard University, Boston University, and the Dana-Farber Cancer Institute found that women wearing more makeup were judged to be more competent than those wearing less makeup or no makeup. Makeup was found to increase people’s perceptions of a woman’s likeability and trustworthiness as well.â€? Robin Madell says that. “despite these research implications, many are reluctant to admit that a woman’s personal appearance influences decisions around hiring and promotion, according to Steve Stroum, president of Venmark International. Stroum explains a key reason for this is that personal appearance falls into the subliminal judgment part of the brain. He likens the situation to the automotive industry placing bright red convertibles in their showrooms, only to sell white sedans. “In the same sense, a woman’s personal appearance is a hidden persuader,â€? says Stroum. “Nobody will admit that something as trivial will impact their decision-making process‌ but it does.â€? Marc L. Resnick, Ph.D., professor of human factors at Bentley University College of Business, reinforces this position. “My research finds that when making decisions, people are influenced by a variety of factors that are explicitly conscious, tacitly conscious, and unconscious,â€? says Resnick. “So even for a hiring manager that knows of this tendency and forces him/herself to suppress it, it is still an influence.â€? Whether all of this is true, hidden or overt, many women are aware of being judged more strongly than men in the workplace. Though men are not exempted in this looks requirement scenario. Recruiters constantly complain about candidates who do not spend enough time thinking about the impressions they are making and how they are being perceived in the marketplace. In the course of writing this article, my colleague also mentioned that looking good gives you a seat at the table. After your interview your appearance affects how successful you will be on the job. She gave an example of a friend of hers, very technically sound, who has lost several opportunities to seat on boards because of the term, “she lacks presenceâ€?, which boils down to how you package yourself.

Madell said, “appearance is always a factor in primate hierarchy—how we approach others and think of them in our internal mind mapping of people and prestige. There are a number of human factors involved in people perception: age, gender, status, context, grooming, aesthetics, wardrobe, accessories. They all go to defining personal style and how people think they are being perceived.� While your looks are important, being perceived as being too pretty can also be detrimental to your growth within an organization. She goes on to say, “though women may be trying to change their looks through plastic surgery in hopes of positively influencing their careers, being perceived as especially good looking doesn’t always work in women’s favor at work. “ Laurel House author and entrepreneur says, “absolutely your looks can also be used against you. Being very attractive can especially make it difficult when it comes to co-workers who might have assumptions as to how you got your job, which means that you have to work even harder to prove yourself. And even then you might be hard to accept—a beautiful and smart co-worker can definitely appear to be a threat.� Patti Johnson, CEO of PeopleResults and former senior executive at Accenture, has advised many leaders on promotion, advancement, and salary decisions. “I find that this question of personal appearance is a double-edged sword for women—if women are too attractive it can work against them and they are sometimes not taken seriously, by men and women,� says Johnson. “But women who are attractive (as long as not too much) do get an edge in my experience.� Johnson points out that while research shows that attractiveness gives a more positive impression in work settings, she has found this to especially be true for women. “In my role as an executive coach, I have seen women deal with both sides of this coin,� says Johnson. “But bottom line—attractive, but not too attractive.� So, according to Patti Johnson, balance is the key. Being too pretty can also lead to what is called “work-life jealousy.� Where women express jealousy and envy toward other women based on their appearance. Based on this jealousy, some women use their authority and influence to suppress other women in the workplace rather than helping them to advance. Madell says, to help create that consistent brand while avoiding both blades of the attractiveness “double-edged sword,� women need to be strategic. Maggie Jessup, author of Fame 101: Powerful Personal Branding and Publicity for Amazing Success, says that at the managerial/executive level, in contrast to administrative positions, personal appearance becomes a powerful factor in hiring, promotions, and earnings. Yet it’s not all about physical beauty, which as noted previously can itself sometimes be a negative in those areas—it’s about presenting yourself strategically. “A strategically presented woman has an immense advantage over their simply average or disheveled colleagues,� says Jessup. “If by manner, dress, and education (including continuing) she conveys power and several other factors, she will be the one who catapults past her male competitors into a corner office and becomes unbeatable once there.� There is no doubt that how you present yourself is key to your growth. Raquel A. Castillo of Growthink says, “It’s about looking the part and the basic knowledge our parents taught us: dress for the job you want. I add a little flare to that old concept: I say dress and act for the job you want.�.

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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Going for Growth The focus of the Central Bank of Nigeria and the soon to be constituted economic management team should be on growth-oriented policies so as to lift the ailing economy and bridge the widening inequality gap in the country, writes Obinna Chima

L-R: Chairman/Editor-in-Chief, THISDAY Group/Arise Television, Nduka Obaigbena; Chairman, Zenith Bank Plc, Jim Ovia; Chairman, Honey Well Group, Oba Otudeko;Governor, Lagos State, Babajide Sanwo-Olu; CBN Governor, Godwin EmeďŹ ele; President, Dangote Group, Aliko Dangote and Founder, Stanbic lBTC, Atedo Peterside, during the consultative roundtable with EmeďŹ ele that held in Lagos‌recently Abiodun Ajala

The Nigerian economy is currently in dire straits with major economic indicators looking grim amidst increasing vulnerabilities. In fact, analysts have warned that the economy would be in a vulnerable position if oil prices fall again and further borrowing becomes too expensive or no longer feasible. More worrisome is the fact that a country whose Gross Domestic Product (GDP) used to grow at an average of seven per cent about five years ago has continued to totter with growth hovering around two per cent. The latest data released by the National Bureau of Statistics showed that GDP growth rate slowed to 2.1 percent in the first quarter of 2019, compared to the 2.38 per cent recorded in the fourth quarter of 2018. This is just as the level of poverty and unemployment have risen sharply in the past few years, with population growth also outstripping GDP growth. In addition, the country’s revenue generation level has remained low, even as the federal government has been accumulating liabilities faster, compared to assets. Clearly, the performance of these macroeconomic indicators has a relationship with monetary policy decision. That was why as the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, commences his second term, private sector operators during a recent consultative roundtable have stressed the need for the CBN to pursue growth-friendly policies. The event titled: “Going for Growth,� was for private sector operators to express their views and also provide inputs into the roadmap to be unveiled by the CBN Governor for the next five years, in the coming days. Emefiele, in his remark, warned that rising volatility in the crude oil market occasioned by the rapid increase in the supply of shale oil by the United States, which has seen its production rise from nine million barrels per day in 2017 to over 12 million barrels per day today, also portends great risk to Nigeria’s growth trajectory. He stressed the need to take actions that would wean the economy from excessive reliance on crude earnings for survival.

“This means that we must strengthen our efforts over the coming years to stimulate growth and create jobs in critical sectors of our economy that will help insulate our economy from shocks in the global economy. “In doing this, the CBN has recently been caught in a syndrome which we term “The Dilemma of Monetary Policy in Nigeria.� “Typically, for a nation to be seen prosperous, any citizen of that country will expect the following macro-economic indices to prevail: That is, a low interest rate regime, a stable exchange rate regime and robust reserve position, a low inflationary environment, and lastly, an environment of full employment. “In fact, I love these and would have less stress in monetary policy if all these are possible. But the question we should ask ourselves at

While we are delighted that we have been able to ďŹ ght ination down to very low double digits, we believe it is still too high for the Nigerian economy. Our goal is to moderate it down to single digits. Also, we need to keep in mind that Nigeria’s high interest regime reects not only the cost of capital, but also the cost of doing business in the country

Defending the Naira To Emefiele, the Bank would continue to defend the naira, saying that the CBN Act demands that the Bank “defend� the Naira using the foreign exchange reserves. “In effect, the CBN would be disobeying the law establishing it, if it sits idly by and allow the Naira to be determined wholly by the so-called market forces. “Second, those who call for floating of the currency betray their willful ignorance of the effects of significant depreciation, however short-lived, on inflation. “Several empirical analyses have shown that the pass-through of changes in the exchange rate on consumer prices is almost one-to-one. “This implies that for every percentage point depreciation in the Naira, there is almost the same rise in inflation. “I have also heard a lot of people suggest that all they want is for the CBN to reduce interest rates. In fact, for us at the CBN, achieving a low interest rate regime will give us a great sense of accomplishment.� Constraints to Reduced Interest Rates Furthermore, Emefiele noted that given the determination of the central bank to stimulate economic growth, he would continue to pursue a policy of moderating interest rates. “Yet, in an environment where inflation recently was a high as 18.72 percent, it would be counter-productive to reduce interest rates because any attempt to ease interest rates under a high inflationary environment will no doubt retard growth. “While we are delighted that we have been able to fight inflation down to very low double digits, we believe it is still too high for the Nigerian economy. Our goal is to moderate it down to single digits. “More also, we need to keep in mind that Nigeria’s high interest regime reflects not only the cost of capital, but also the cost of doing business in the country. “A typical branch of Nigerian bank provides its own security with sometimes permanent police presence, its own electricity supply with several generators, diesel tanks and inverters and its own broad band internet services.

“For banks whose main source of income is from interest earnings, these deficiencies become costs which it must necessarily pass on to borrowers. So regardless of what we do at the CBN, it is important that we realise other aspects of our business environment that promote and sustain high interest rates.� Speaking further, the CBN Governor who just last week assumed office for the second term of five years, said the policies of the apex bank in the past five years have been focused on protecting the purchasing power of the poor and vulnerable persons in the country. According to Emefiele, the apex bank is very comfortable staying on the side of the weak, vulnerable, and poor masses and protecting their purchasing power. He argued the central bank’s development finance initiatives and foreign exchange intervention are targeted at supporting vulnerable persons in the society. “Sadly, while most people in this room may be spared the brutal consequences of inflation, the majority of Nigerian masses and fixed income earners are not. “The poor masses are the ones that bear the brunt of losing purchasing power of the meagre salaries they receive, ever so infrequently. “Indeed, given the current resistance to pay increased minimum wage of N30,000, one wonders how the fixed income earner would survive the consequences of inflationary pressure arising from the pass-through from exchange rate depreciation being proposed by the naysayers,� he told his audience. Emefiele said the task of building a stronger economy was far from complete; with the pace of Gross Domestic Product (GDP) growth still very fragile and badly lagging behind population growth rate of 2.7 per cent. He reiterated the fact that the level of credit to the private sector by financial institutions was still very low. According to the CBN Governor, domestic industries particularly high employment generating sectors like textile and garment sectors have continued to deal with rampant smuggling and dumping of materials through our borders. CONTINUED ON PAGE 27

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GOING FOR GROWTH

A cross section of participants at the meeting

“These challenges no doubt call for action by the monetary and fiscal policies through the implementation of policies; the spirit and letter of which must be respected by all,� he added. “And then, you structure the school fees in a payment system that can last 30 years or more. So, it is that intervention in education that can begin to build the next world class innovators and students for Nigeria.� Economic Growth Drivers A former Commissioner of Finance, Lagos State, Mr. Wale Edun, in a presentation noted that forex supply is one of the factors that causes distortions to the economy. According to him, the “task is for us to get foreign exchange from anywhere, be it diaspora and everybody bringing back their foreign exchange, because the challenge is always on the supply side. Basically we have to deal with the issue of liquidity in terms of foreign exchange.� He urged the central bank to work with the fiscal authorities in attracting foreign investments, saying liquidity in forex leads “to so many good things.� He listed these to include stability in the naira and long-term funds for investments. To Deji Alli, Managing Director of ARM Investment Managers, highlighted the impact of the country’s huge infrastructure deficit on economic growth. He also advised the CBN to collaborate with other regulatory agencies to develop policies that can attract long-term equity financing. “If we can’t attract long-term equity financing, then it is going to be difficult for us to attract foreign investments in any manner,� he said. According to him, the right regulatory framework should be developed for pension fund administrators to commit some portion of the over N9 trillion pension funds to infrastructure development. “Policies have to be in place to create attractive opportunities for the country to move ahead,� Alli added. On his part, the Vice Chairman, Alpha African Advisory and former Chief Executive Officer of the Asset Management Corporation of Nigeria (AMCON), Mr. Mustafa Chike-Obi, stressed the need for the federal government to implement policies that would enable the country achieve double-digit growth rate. He called for an end to the removal of certain subsidies in the country as well as pay greater attention to security and infrastructure. According to him, three subsidies in the economy - fuel, foreign exchange and electricity subsidies - were hindering growth. On fuel subsidy, he said, “the economy is losing N1.2 trillion per year. Who gets the fuel subsidy? The rich people with six cars are those benefitting from fuel subsidy. “The average rich person in Ikoyi is getting

approximately 100 times a year fuel subsidy than person in Shomolu in Lagos.� He added that, “everybody deserves to have electricity but you charge electricity based on those who needed it the most in the market price. Most people that uses generator pay N160/Kwh and pays comfortable. “If you tell these power company that they can sale power at N160/kwh, they will make sure much money that more power will be generated.� He also expressed concern about Nigeria’s rising debt service ratio, which according to him could be about 70 per cent. “It is almost a guarantee that Nigeria is going to be talking about debt rescheduling soon and we need to start putting our house in order ahead of that,� he said. He said: “The government acts like everything is fine and as if they have done well. The truth is things are not fine. “The problem we have in Nigeria is that we keep problems until they become so big that we have to fix it. I have advocated that we should use inflation to change the minimum wage every year. We can be doing this if we have vision in small step because most of the great things that are done are done with a plan and gradually. “We have serious problems in this economy. The problems are that of growth, unemployment and productivity. To the Governor of Lagos State, Mr. Babajide Sanwo-Olu, power is a very important driver of economic growth. For him, with improved supply of electricity, firms would be able to produce goods and services at cheaper rates. The Governor pledged to continue to “fight power providers in the state,� until there is increased power supply to households and firms. The governor emphasised that making Lagos a 21st century economy requires improved power supply to drive businesses and households. He pledged to modernise essential services in the state and strive for maximum efficiency in the public sector institutions. “We are going to do this so that we can become increasingly competitive and innovative. It is important to unleash the potential of the state so as to attract foreign direct investments (FDIs) to the state,� Sanwo-Olu. He urged the Central Bank of Nigeria to remain vigilant so as to safeguard the economy from external shocks. According to Sanwo-Olu, there was need for policymakers in the country to positively take advantage of ongoing US-China trade war as well as the Brexit to reposition the economy. The President of the Dangote Group, Alhaji

Aliko Dangote, on his part, described consumer credit as a vital tool for fighting corruption in the country. To this end, Dangote urged the CBN and commercial banks in the country to work towards developing consumer credit products so as to encourage low income earners. “We need to work very hard on consumer lending. It is even going to help the government in fighting corruption especially for the low income earners. If somebody has a paid job and there is consume credit, you can take such credit to buy household equipment and pay for four years. “We must also do mortgage. It will also help in terms of fighting corruption,� he explained. He, however, said the biggest challenge in the country was implementation. “How do you have economic growth without power? Without power there can’t be growth. Egypt electricity increased by 10 gigawatts, which is equivalent to 10,000 megawatts, in 18 months. “But in Nigeria we have been struggling for 18 years without adding 1,000 megawatts and we have spent about three times the amount Egypt spent. Why? So, I think we all need to be concerned about that. I keep saying that when you look at the contributions to the GDP, the government is only about 17 per cent and 80 per cent is private sector,� he added. Owing to this, he advised private sector operators to remain committed to contributing to the growth of the economy. “It is only the private sector that can partner with government to create this. It is not difficult but we must drive the process. No foreigner can invest unless we the locals invest in our country.� He pointed out that smuggling was causing a lot of harm to businesses in the country, citing Nigeria’s porous border as a challenge. Dangote said there was need to focus on import-substitution. The Chairman of Zenith Bank Plc, Mr. Jim Ovia, in his contribution, stated that to engender growth, there is need to get all the fundamentals in the economy right. “No matter the economic theory we propound, if the fundamentals are not right, it definitely cannot work. If we have the fundamentals right, the common man does not want to know whether interest rate is high or low,� Ovia declared. The founder of the commercial bank also supported Dangote’s call for consumer lending, saying the reason why the initiative has not blossomed in the country was because of inadequate Know-Your-Customer. The founder of ANAP, Mr. Atedo Peterside, in his remarks, noted that monetary policy has its limits.

He advised the CBN to ensure that the issue of multiple exchange rate is addressed. He also said there was need to implement policies that would ensure that inflation gradually drops to about five per cent. Peterside called for friendly policies that would encourage fledgling entrepreneurs, saying, “when Aliko Dangote and I were in our 30s, we were allowed to grow, but today we are killing the youths.� He also urged governments in the country to address the issue of multiple taxation. The Chief Executive Officer, Access Bank Plc, Herbert Wigwe, also said there was need for a conducive environment for businesses to thrive. He called for stability of government policies to enable investors plan long term. He faulted a situation where policies are suddenly changed in the middle of business decisions. In his contribution, Nduka Obaigbena, the Chairman of THISDAY and ARISE News Network, advised the central bank to extend its development finance intervention to the education sector so as to enhance the quality of graduates that are churned out annually. This, he said would have a multiplier effect on productivity in the country. Obaigbena added: “We spend lots of money on school fees and our educational institutions are getting worse. “What the central bank can do is to consider a framework for student loans, where proper salaries are paid to cutting edge professors so that we can get the quality we need in education. Furthermore, Chike-Obi stressed the need for coherent and forward-looking policies to address the myriad of problems confronting Nigeria. “We are badly in need of good leadership; we need a leader that would map out the strategy and roadmap for economic growth in this country,� he said. “There is need for coherent monetary and fiscal policies. For me, the position of a CBN Governor should be a cabinet position and the CBN Governor should always be meeting with the Minister of Finance and the Minister of Budget and Planning every two weeks.� he added. Therefore, as Emefiele develops his roadmap for the next five years, the central bank under him should play a stabilising role in influencing economic growth by ensuring effective transmission of monetary policy. The CBN should always develop a cordial relationship with the fiscal authorities so as not to be seen to be working at cross purposes. And as expected, the central bank must remain focused on primary of achieving stability. This means purposeful manipulation of policy instruments such that fluctuations in employment, production and prices are minimised and potential growth in real output is realised.

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SEC in the Eye of the Storm Goddy Egene writes that the Securities and Exchange Commission has been in the news lately for good and bad reasons

Acting Director General, Securities and Exchange Commission, Ms. Mary Uduk

The Securities and Exchange Commission (SEC), which is the apex regulator for the nation’s capital, has been making efforts to ensure the return of investors to the market after the 2008/2009 meltdown. One of the major steps towards repositioning and thus attracting improved patronage was the launch of the 10-year Capital Market Master plan. The commission has remained steadfast in the implementation of the programme, which entails the introduction of certain policies aimed at addressing some issues which were seen to have contributed to the low growth of the market. For instance, SEC has continued to promote the Electronic-Dividend Mandate Management System(EDMMS), the Direct Cash Settlement (DCS) and the Multiple Subscription service option for investors. SEC also introduced the National Investors Protection Fund (NIPF), risk-based supervision and the Complaints Management Framework that opens communication channels for investors to lodge complaints and get prompt responses. The importance of the EDMMS is to eradicate or reduce to the barest minimum the incidence of unclaimed dividend while the DCS is meant to check practice by some market operators defraud their clients. Also, the capital market regulatory institution initiated a collaborative relationship with the Nigerian Educational Research and Development Council (NERDC) on the development of a curriculum for basic and secondary schools on Capital Market studies as part of the futuristic approach in Nigeria’s capital market development. All the above were highlighted as some of the achievement the commission recorded within one year that Ms. Mary Uduk, has been acting as the director general (DG) of SEC. She was exactly one-year-old as acting DG of the commission in April and commission under her watch got kudos from the capital market community and stakeholders in April and significant part of May. However, since May 31, when commission announced the conclusion of the forensic audit and gave its ruling, the regulator has remained in the news but not for very palatable reasons. As expected it has been mixed grill as some stakeholders are supporting the regulator, while others are condemning its actions. Sanctioning Oando On May 31, SEC announced that it had concluded investigation of Oando Plc and directed among others immediate resignation of the Group Chief Executive Officer of the

company, Mr. Wale Tinubu and his deputy, Mr. Omamofe Boyo and other directors of the company. The commission equally barred Tinubu and Boyo from being directors of public companies for a period of five years. SEC, on Sunday, May 2, followed with the constitution of an Interim Management Team (IMT) headed by Mr. Mutiu Sunmonu, to oversee the affairs of Oando Plc and conduct an Extra Ordinary General Meeting (EGM) on or before July 1, 2019. The commission said these were part of measures to address identified violations in the company. SEC also directed the payment of monetary penalties by the company and by the affected individuals and directors, as well as refund of improperly disbursed remuneration by the affected board members to the company. SEC had said: “Following the receipt of two petitions by the Commission in 2017, investigations were conducted into the activities of Oando Plc., (a company listed on the Nigerian and Johannesburg Stock Exchanges). Certain infractions of Securities and other relevant laws were observed. The commission further engaged Deloitte & Touche to conduct a forensic audit of the activities of Oando Plc. “The general public is hereby notified of the conclusion of the investigations of Oando Plc. The findings from the report revealed serious infractions such as false disclosures, market abuses, misstatements in financial statements, internal control failures, and corporate governance lapses stemming from poor board oversight, irregular approval of directors’ remuneration, unjustified disbursements to directors and management of the company, related party transactions not conducted at arm’s length, amongst others. “The commission is confident that with the implementation of the above directives and introduction of some remedial measures, such unwholesome practices by public companies would be significantly reduced. “Therefore, in line with the federal government’s resolve to build strong institutions, Boards of public companies are enjoined to properly perform their fiduciary duties as required under extant securities laws. “The commission, as the apex regulator of the Nigerian capital market, maintains its zero tolerance to market infractions, and reiterates its commitment to ensuring the fairness, integrity, efficiency and transparency of the securities market, thereby strengthening investor protection.� SEC equally fined Oando and its directors a total sum of N417.692 million for the various forms infractions violated. A breakdown of

Tinubu

the fine showed that while the company is to pay the sum of N8.450 million for publishing untrue statement in its 2012 financial statements, in violation of Rule3(4) of the SEC Rules and Regulations, made pursuant to the Investment and Securities Act (ISA) 2007, it is also expected to pay N7.850 million to the commission for publishing untrue statements in its 2013 and another N42.750 million to the Commission, for non-disclosure of related party transactions in its 2012 financial statements in violation of Rule 39 (1&7) of the SEC Rules and Regulations, 2013, made pursuant to ISA 2007. Oando Faults decision Oando faulted the sanctions by SEC, saying the alleged infractions and penalties were unsubstantiated, ultra vires, invalid and calculated to prejudice the business of the company. Oando said it was not given the opportunity to see, review and respond to the forensic audit report and so is unable to ascertain what findings (if any) were made in relation to the alleged infractions and defend itself accordingly before the SEC; Oando declared that it reserves its rights to take all legal steps to protect its business and assets whilst remaining committed to act in the best interests of all its shareholders. The company demanded the withdrawal by SEC of the penalties listed in the letter within three days, from the receipt of the letter, insisting that the findings were largely unfounded and remained unsubstantiated in the absence of any representation from the oil and gas company before the regulator arrived at its sanctions. Besides, Tinubu and Boyo went to court to secure an interim injection from Federal High Court sitting in Lagos presided over by Justice Mojisola Olatoregun r restraining SEC from removing as GCEO and DGEO respectively. The court also restrained SEC, its servants or agents from taking any step concerning the commission’s letter dated May 31 in which it barred Tinubu and Boyo from being directors of a public company for five years. It also restrained the commission from imposing a fine of N91.13 million on Tinubu. In its response SEC said it gave Oando fair hearing, saying the company and its board and management were given various opportunities to defend themselves during the investigation by commission and during the forensic audit. SEC Workers Protest Gwarzo’s Reinstatement While the commission was on Monday, June 3, ensuring that Oando carried out its directive

and allow Sunmonu takes over the running of the firm, some workers of SEC where in Abuja protesting the reinstatement of suspended DG, Mounir Gwarzo. The workers, under the aegis of the Association of Senior Civil Servants of Nigeria, SEC Branch, rejected the judgement by the National Industrial Court, which ordered Gwarzo’s reinstatement with immediate effect. The workers shut the premises of the commission and paralysed business activities for most part of the day before later suspending their industrial action. Speaking on action, the Chairman the union, Nelson Oleghe, said: “The suspended DG of SEC has been on suspension for almost two years following allegations of abuse of office levelled against him. The suspended DG was charged to court by the Independent Corrupt Practices and Other Related Offences Commission. In all of the court cases, the issue of fraud was not mentioned.� He said the union decided to hold the protest after an emergency meeting held on Sunday on the issue. “We believe that an institution that prescribes good corporate governance should be seen taking the lead. We say no to Gwarzo,� he said. This development was said to have sent demoralizing signals to most management staff of the commission, who are yet to come to terms with the reality of the judgment. In fact, there is still palpable air of uncertainty hovering over the commission because the dust is yet to settle. Suspending Oando’s AGM Again, while the last was yet to be heard about the return or not of Gwarzo, SEC announced the suspension of the annual general meeting (AGM) of Oando scheduled for Tuesday, June 11, 2019. SEC said the suspension of the AGM was in furtherance to the Ex-parte Order of the Federal High Court, Ikoyi Lagos in Suit No: FHC/L/ Cs/910/19 In Mr. Jubril Adewale Tinubu & Anor V Securities & Exchange Commission & Anor. According to the commission, the action was taken to allow the parties maintain status quo, explaining that it will update the public on the outcome of the ongoing litigation. But reacting to the suspension of the AGM, Chairman, Progressive Shareholders Association of Nigeria (PSAN), Mr. Boniface Okezie said the regulator should have allowed the AGM CONTINUED ON PAGE 30

WEDNESDAY JUNE 12, 2019 • T H I S D AY

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NSIP and Buhari’s War On Poverty Olu Tayo With 80 million Nigerians classified as poor, the war against poverty is not only a herculean task, but presents formidable challenges to the present administration which has launched a frontal and unwavering war against poverty. The ongoing war under the aegis of the National Social Investment Programme (NSIP), headed by Mrs. Mariam Uwais, the Special Adviser to the President on the programme, represents one of the successes of the Buhari Presidency in terms of its conceptual framework, delivery and impact in tackling grinding poverty which is pervasive in our society. In evaluating the NSIP intervention, it is critical to note that its success story is located in the meticulous planning and broad vision of the managers of the programme. The programme in setting out and defining the poorest of the poor, who are the main beneficiaries of the programme, devised a strategy which ensured that the selection process was insulated from the outside control of influence peddlers and political predators. Having identified 80 million Nigerians as poor, and as a result of the paucity of funds, it selected 30 per cent from each state and senatorial districts to be the first batch of beneficiaries. It achieved this threshold by working closely and in concert with the states and the National Bureau of Statistics (NBS). It did not end there as operators of the programme travelled around districts and communities to identify its target recipients. Operators of the programme also deployed Community Based Targeting Manual to assist them identify poor and vulnerable households. By all ramifications, the vision of the National Social Investment Programme is laudable, and represents a bold attempt by the Buhari Presidency to stop rampaging poverty on its tracks by re-distributing wealth and lifting millions of Nigerians out of grinding poverty. As at date, the Social Investment Programme has benefitted 7.9 million Nigerians since inception and has a presence in all the 36 states and the Federal Capital Territory. Its set targets through its various schemes are ambitious and reflect government’s commitment to curtailing poverty. For example, the N-Power seeks to provide 500, 000 jobs to unemployed graduates. Presently, 200, 000 graduates have benefited from the scheme and are currently gainfully employed in various institutions across the country. The programme has completed the selection of the next batch of 300, 000 beneficiaries who will soon be engaged. Government Enterprises and Empowerment Programme (GEEP) seeks to provide loans to a minimum of 1.6 million small and medium sized enterprises with established cooperatives. So far, 259, 541 beneficiaries of 4, 784 cooperatives have been paid nationwide with the next batch of 148, 611 loans approved

Buhari

for disbursement. The National Home Grown School Feeding Programme (NHGSFP) is a success story as it is presently providing a meal a day to about seven million school children in primary 1-3 across the nation. In the non-graduate category of N-Power, 20, 000 more beneficiaries have been selected for training in 34 states. Also, the Humanitarian hub in Adamawa state has taken off and is supported by the ICRC, PCNI, and NEMA. The Lagos Climate Hub supported by World Bank and Lagos Business School (LBS) is on stream with other hubs situated in the six geo-political zones of the country and are at various stages of development. With its impressive performance so far, it is not surprising that the National Social Investment Programme has continued to attract plaudits from Nigerians, stakeholders and international organizations. Reviewing the performance of the programme,

the Nigerian Economic Summit Group (NESG) commended the programme for delivering measurable results in accordance with its core mandate. According to its empirical review of the group, NSIP is meeting its targets, objectives and outcomes across the country. In the same vein, Action Aid Nigeria, an international nonprofit organization, has praised the effectiveness and performances of the programme, stating that it is improving the lives of citizens. Action Aid, after its independent audit which included N-Power Programme, Home Grown School Feeding Programme (HGSFP) and the Government Enterprise and Empowerment Programme (GEEP), concluded that the programme is a huge success. In arriving at its conclusion, the Action Aid monitored the programmes under review in 35 states of the federation. Its personnel interviewed over two million Nigerians (beneficiaries and non-beneficiaries) with quarterly feedback sessions and suggestions on how to

improve service delivery to the citizens. Based on empirical evidence evaluation and from the testimonies of Nigerians, state actors and non-state actors, the National Social Investment Programme is succeeding in achieving its core mandate of reducing poverty and re-distributing wealth. Nigerians of all political persuasions should support this laudable programme of government that has made positive impact on the lives of citizens. For the programme to make a greater impact, there is the need to fund it adequately. Since its inception, one of its challenges has been inadequate funding. Out of the N500 billion budgetary allocation on a yearly basis, only 15 percent of the total sum is released. This has hampered its operations. Under the present leadership of the programme, it has created positive impacts in addressing poverty, and a lot will be achieved with better funding of the pragramme. t 5BZP XSPUF JO GSPN "CVKB

SEC IN THE EYE OF THE STORM to go on. “I think SEC has not done the right thing because the AGM has been approved before now, suspending it will lead to loss for the company, which has also booked for the venue and paid for other things necessary for the meeting to take place. What I think SEC should have done is come and observe,� he said. Okezie explained that since the release of the forensic audit result, the shareholders have not had the opportunity to hear from the directors, noting that the AGM would afforded them the opportunity to get more information from the board of the company. Speaking in the same vein, the Chairman, Ibadan Zone Shareholders Association of Nigeria, Mr.Eric Akinduro said suspending the AGM was unfortunate. “There should be a human face to some of these things. There is a court order saying the status quo should be maintained and I believe the AGM is one of the things referred to by the court order. Suspending an AGM 24 hours to the meeting is not good for the shareholders and even the market. Some of the shareholders have travelled from other states to Lagos for this AGM,� he said. However, the President, Constance Shareholders Association of Nigeria, Mallam Shehu Mikail said SEC did the right thing. “To me, SEC has done the right thing because

there are so many issues in the company right now and we do not know how the meeting will look like. So the proper thing is to suspend the meeting. If SEC goes ahead to hold the AGM, it means it is disrespecting the market regulator,� he said. SEC Board underway Market stakeholders have said the absence of a governing board for SEC for over four years contributed to some of the decisions by the commission, which considered negative in some quarters. But there is a glimmer of hope that the board would soon be constituted and a lawyer, Mr. Olufemi Jinadu has been penciled down to be the chairman. Operators and investors have decried the absence of SEC board and had called on the federal government not to delay further. For instance, Chairman, Association of Securities Dealing of Houses of Nigeria (ASHON), Chief Patrick Ezeagu, who had said the federal government should not delay any longer to get a board for SEC. “We have been calling for a board for SEC without response from the government. SEC, which is regulating a market of several trillions of naira should have a board to enable a smooth running. It is disheartening to know that most of the laudable projects espoused in the master plan are being affected by lack

of a board, which is statutorily mandated to take some major decisions in that direction. Apart from not having a board, the DG and the commissioners are all in acting capacities. This does not send good signals to investors out there. Appointing a board for the commission and confirming the officers would significantly boost investor confidence, thereby restoring some level of stability to the market,� Ezeagu said. Also speaking on why SEC needs a board urgently, a senior market operator and lawyer said the commission could not be an arbiter over corporate governance of listed companies whereas it does not have a board. According to him, “can you give what you do not have it. You cannot be superintending over what you do not have.� He added that SEC is signatory ‘A’ member of International Organisation of Securities Commissions (IOSCO), explaining that being a signatory A member requires that commission should have an institution in place and the head of that institution is the board. “In terms of market dynamics, information is key and the timeliness of information is pivotal. For information, which is key and timely you must have a board that quickly take decisions because as it is today, the Ministry of Finance serves as a board. For any decision to be taken, the ministry, which

is already saddled with the running of the economy, and over burdened with such, what time will it have to attend to the commission. Though the ministry supervises the commission, what capacity with specific reference to capital market that the ministry to be able to give a guided advice to the commission,� he added. The operator noted that time between the last board and now, it is it totally abnormal, abysmal and unacceptable in international governance. “So the international community will not take your decisions seriously because there is a possibility of policy summersault as a result of political interests. So professional things should be left for professionals and political things be left for politicians. The SEC is a professional institution and it is knowledge based institution. “So it behooves government to see it as a prime institution in policy making and essence of driving a developmental economy. One of the major reasons why the economy has been jerking has been because the capital is not in the mainstream. The government has not been able to appreciate the importance of the capital market in the development of the economy, especially a nascent economy like Nigeria where one of the greatest deficit we have is long term capital,� he declared.

WEDNESDAY JUNE 12, 2019 • T H I S D AY

MKO ABIOLA LIVED AND DIED FOR HOPE The Family of Late Bashorun Moshood Kasimawo Abiola (GCFR) Thanks Nigeria

Bobagunwa of Egbaland Balogun Ojoo, Abeokuta Bashorun of Ibadanland Turbaned Bada of Gbagura Moslems Abeokuta 1972 Turbaned Jagunmolu of Egba Moslems - Abeokuta 1978 Member of the Constituent Assembly of the Federal Republic of Nigeria, 1978 Turbaned by the Late Sarkin Katsina, Late Alhaji Usman Nagogo – 1979 Turbaned by the Sultan of Sokoto, His Eminence Abubakar III 1980 Turbaned Osemoya of Auchi 1982 Aare Ona Kakanfo (Generalissimo) of Yorubaland Turbaned Baba Adinni of Yorubaland – 1983 President of the Nigerian Stock Exchange, 1991 Chairman, G.15 Business Development Council Chancellor, Ladoke Akintola State University of Technology, Ogbomoso, 1991 President, Newspapers Proprietors Association of Nigeria, 1991 Turbaned Amirul Mumini of the United Muslims Council of Nigeria, 1991 Turbaned Magayakin Katsina by his Royal Highness Alhaji M Kabir Usman, the Emir of Katsina, 1991 Turbaned Magayakin Zauzzau of Suleja by HRH Alhaji I Dodo Musa, the Emir of Suleja, 1991 Turbaned Vice President General Supreme Council of Islamic Affairs Board Member, International Press Institute, 1992 Honorary Citizen of the Republic of Benin Holder of the Key to the city of Tuskegee, Alabama, USA Board member of the International Peace Academy tŝŶŶĞƌ ŽĨ ƚŚĞ WƌĞƐŝĚĞŶƚŝĂů ůĞĐƚŝŽŶƐ ŽŶ :ƵŶĞ ϭϮ͕ ϭϵϵϯ

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EDUCATION Building Boys’ Capacity through Science For 37 years, Helmbridge Study Centre, Lagos, a project of the Educational Cooperation Society, a non-governmental organisation entrusted to Opus Dei (the Personal Prelature of the Catholic Church), has been imparting knowledge in boys from public and private secondary schools through its science challenge, which recently produced a team of winners. Funmi Ogundare reports

T

he importance of science in everyday life cannot be overemphasised, as is being shown yearly by Helmbridge Study Centre, a project of the Educational Cooperation Society (ECS), a nongovernmental organisation entrusted to Opus Dei (the Personal Prelature of the Catholic Church). Since 1982, it has been supporting secondary school students, specifically boys to be well grounded in the area of science and enhance their study habits, as well as careers. The science challenge, which ran for five weeks, tested participating students in Physics, Chemistry, Biology, Mathematics and General Knowledge. For participating schools, there were teams of students, comprising eight members, four each from senior secondary one and two, who were accompanied by an official and a small group of supporters. For the 2019 edition, 20 public and private schools in Lagos participated and St. Michael’s Anglican College, Coker emerged winner for the first time in its nine years of participating in the contest. The team received a trophy, a cheque of N150,000, as well as certificate for each member. Government College, Surulere and Soliel High School, Gbaja, Surulere came second and third positions, and got trophies, a cheque of N100,000 and N50,000 respectively, as well as certificates for each of the members. The Director of the centre, Chris Itua, who advised the students to study hard, be determined and focused, regretted that corporate organisation’s prefer to sponsor entertainment and reality shows, rather than things that would enhance education and knowledge. According to him, “it is unfortunate that organisations don’t want to sponsor things that would advance education, but on reality shows. In the world today, it is easier to get sponsorship for the girl-child compared to the boys. As a matter of fact, an organisation told me that if we make the competition an all girls’ affair, it will put its money on it.� While stressing the importance of taking care of the boys, he noted that their moral and physical formation in the school system is missing. Itua said the centre, established in 1972, has the aim of complementing the academic, moral and character training, which boys receive at home and school, adding that it is equipped with facilities which can be accessed for free during weekends and holidays. The quiz master, Mr. Obi Jude Onyekachi, who participated in the competition some years ago, said the importance of education cannot be overemphasised, adding that government has been lackadaisical about the issue. “When you are invited for a science challenge like this, there is prestige that comes with it. If you have not been preparing before, you need to study hard because you are going to be meeting different schools and people from different backgrounds, so you are forced to study,� he said, adding that the competition enhances

The winning team from St. Micheal’s Anglican College, Coker with their teachers and guests, during the Helmbridge Study Centre Science Challenge held in Lagos... recently

one’s performance in science subjects and helps one to maintain a level of seriousness. “The fact that you prepare for the challenge, I think you can comfortably write any exam.� A media strategist and consultant, Mr. Patrick Oke expressed concern that commitment, dedication, hard work and focus are no longer emphasised in the school system, saying that people are only interested in

It is unfortunate that organisations don’t want to sponsor things that would advance education, but on reality shows. In the world today, it is easier to get sponsorship for the girl-child compared to the boys

acquiring certificates and making quick money. “Research has shown that 80 per cent of Nigerian graduates are not employable because everybody is looking for the paper. What everybody does is how to pass exam and anything can be done to achieve that. There is no research anymore. All those things that go into research have been de-emphasised, people are looking for the quickest way to make money. “Everybody’s mind should be focused on learning and solving problems, knitting together resources and be focused on things that will enable society. Everybody wants to go to school so they can make money.� He regretted that the youths have been pressurised into getting into things that would not enable society, saying, “youths watch football all the time and look up to footballers who earn very high for playing football. What does watching football do to you and enable society? They want you to become musicians, footballers, entertainers, but when it comes to bringing up people who will have acumen to improve on society, nobody is interested. “It is hard to get sponsorship for programmes like this, but if it is a music or football competition, Nigerian companies will spend N600 million to sponsor Arsenal and Chelsea Football Clubs. What are these doing to the youths? They are the target because they want to put things in their heads and set agenda for them to follow, which has nothing to do with societal development. Oke, who was a special guest at

the programme, said young people are now interested in going to China and Malaysia because these countries have overtaken Europe in scientific exploration and research, adding that they see Nigeria as a country that does not have a future for them. The media strategist, who promised to increase the prize next year to N250,000, advised youths to have a positive mind-set of rebuilding the country, rather than focusing on what they see on television and social media. “You should organise your minds, know that you are capable of doing anything by thinking originally and know that you can be the scientists we are looking for if you set your minds on it.� The captain of the winning school, Master Solomon Oyetunde, who got a cash prize of N20,000 as the best audience, expressed excitement about his school’s success, saying that his team was motivated to win when it emerged third position last year. “It is a good turnout for my team because we were in school during the holidays studying just to succeed in the competition.� His science teachers, Mr. Mathew Ibiwoye and Philip Ajanaku also expressed excitement about their team’s success, saying that the fact that the school has been struggling in the last nine years stimulated them to succeed. They added that the school has a special club where science subjects are taught. “We had to increase the number of our meeting days and pick students that will represent the school based on merit. They have finally conquered based on hard work and prayers,� they said.

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Babalakin Recommends Overhaul of Nigeria’s Education System Hammed Shittu in Ilorin The Chairman, Agreement Renegotiation Committee of Nigerian Universities, Dr. Wale Babalakin SAN has said Nigeria must restructure its university and secondary school system to turn out employable graduates and regain respect of world community. This he said becomes imperative because of the current ranking of the country’s best university as 800th in the world. Delivering the seventh convocation lecture of the Kwara State University (KWASU), Malete weekend, Babalakin said the country must start its education system all over again. He stressed the need for state and federal governments to channel adequate funding into secondary and university education. According to him, quality products from secondary schools would ensure good and quality university graduates, adding that Nigeria requires an average of N1.1 million to train each undergraduate in its universities annually. The legal luminary, who was awarded an honorary doctoral degree in Law at the ceremony, decried the current situation in Nigerian secondary schools where he said there is overpopulation of students in classes without adequate facilities and teaching staff to ensure quality learning.

While advising the country to promote free education if affordable, Babalakin however said quantity should not be sacrificed for quality. He charged the Kwara State government to use KWASU as a pilot scheme to restructure the country’s education system by providing adequate funding, saying that a situation where grant was not provided to the university in the last five years did not augur well for the promotion of quality education. He also regretted the current situation whereby expatriates are being employed instead of Nigerian graduates, while multi-national organisations are no longer managed by Nigerians unlike in the past due to perceived low quality of graduates. “There is hope, but we have to start afresh. We must have an education system that is globally competitive. It’s not sufficient to fund a university, it should be properly funded. The world is not waiting for us. “The world will start to respect us if we make our universities world class. Even when we say there is no money I believe that with ingenious application, the money will become available,� he said. Also speaking, the ViceChancellor of KWASU, Professor AbdulRasheed Na’Allah said the major

New UNIZIK VC Threatens to Sack Non-productive Staff David-Chyddy Eleke in Akwa The new Vice-Chancellor of Nnamdi Azikiwe University, Prof. Charles Esimone has assumed office with a threat that non-productive staff of the institution would be declared redundant if they fail to improve. Esimone, who spoke during an elaborate handover ceremony at the auditorium of the university, warned that such staff would be shown the way out, he also warned staff to sit up, as his administration would not condone untoward practices, especially towards students or any form of compromise in duty. “I am coming into this job with a vision primed on promoting the highest standard of academic excellence, productive community service, administrative reforms, discipline and advances in matrix of human capacity building, infrastructural development and students/staff welfare. “There will be zero tolerance for plagiarism, sexual harassment and inducement. A mechanism with be put in place to identify and punish culprits accordingly.

“Productivity will be required of every staff, non-performing staff will be declared redundant and could be shown the way out if they do not turn a new leaf. Productivity bonus will not be mandatory; it will have to be earned.� On plans to improve infrastructure in the university, the new vice-chancellor said his administration will enter into a public private partnership with individuals and organisations to build hostels and improve the institution. “We will also pursue complementary collaborations with foreign universities to enable our researchers carry out procedures where we lack capacity.� He urged lecturers in the university to see students as their clients and shun all forms of oppressive actions against them as such would not be tolerated. Meanwhile the immediate past Vice-Chancellor, Joseph Ahaneku said within his five years in office, he has placed the institution in the world map as far as university system was concerned. He urged all to give his successor the same level of support to enable him succeed.

challenge of the institution is funding, adding, “for five years now, the university has not received

subvention from government, not towards salary, not towards overhead, not towards nothing!�

The VC said the institution has established a foundation with contributions from philanthropists

that will also manage it with zero intervention from government and the university management.

L-R: Marketing Manager, Techno West Africa, Mr. Je Tang; the winner of Techno scholarship award, Miss Veronica Kwawou of First African Church Mission School I, Iju Ishaga; the Head, Social Mobilisation, Local Government Education Authority, Ifako Iyaiye, Lagos, Mrs. Omodojo Adejoke; and Public Relations Manager, Techno Nigeria, Mr. Jesse Oguntimehin, at the presentation of scholarship awards to primary school pupils in Lagos‌ recently PHOTO: ETOP UKUTT

Dangote Refinery Boosts Education in Host Communities To bridge the gap in Nigeria’s education sector and enable it contribute effectively to economic development, Dangote Refinery and Petrochemicals has taken up a proactive measure by embarking on an integrated tripartite approach to boost the quality of education in public schools around its host communities in Ibeju Lekki, Lagos. The approach includes a scholarship programme for students; a train-the-trainers capacity building initiative for teachers; and school infrastructure projects to improve the quality of education in the communities. The company, in collaboration with NurtureHouse Limited, a company founded to strengthen quality education through enhanced teaching and learning and capacity development of teachers, organised a capacity building programme for secondary school teachers and principals in Ibeju-Lekki area of Lagos recently. The training sessions were delivered using practical, hands-

on approach to learning. The sessions provided participants with opportunities to collaborate, as well as practice knowledge and skills. At the end of each session, participants were guided on reflective practices and action planning to encourage implementation of skills acquired when they return to their schools. Teachers were exposed to 21st century best practices in ‘Cognitive Development and Impact on Learning’, as well as ‘Effective Pedagogical Skills’. The personal action plans produced at the end of the two-day professional development programme is expected to motivate the teachers to implement their plans. Speaking on the importance of the programme, the Group Social Specialist, Group Health, Safety, Social and Environment (HSSE), Dangote Industries Limited, Mrs. Adenike Olaoye, said the capacity building programme underlines the huge impact that the company has in ensuring quality education in the host communities.

She said the programme has kick-started a positive ripple effect that would be felt in the host communities for years to come. “This initiative and many more happenings in the host communities are being driven by the Group HSSE Department of Dangote Industries. The teachers’ training is part of the education and training component of our Community Development Plan (CDP) for our host communities. Ultimately, the CDP aims at building the capacities of local institutions within the communities so they become self-sustaining communities that can drive their own development thereby ensuring sustainable development.� Also speaking, the Chief Executive Officer, NurtureHouse Limited, Mrs. Ayopeju Njideaka said the programme was structured to help teachers gather new 21st century skills and also for administrators to understand what their roles are. “This programme will enable the 21st century teacher deliver

quality education. We had two days for teachers and one day for educational administrators. For the administrators, we trained them on instructional leadership. Leadership of education is no longer about sitting in the office and taking attendance. It is actually about ensuring that quality teaching and learning is practiced in the classrooms. “The training is expected to motivate teachers and principals to work positively. Once a motivated adult walks into a classroom to teach, the students will also be motivated and teachers will be renewed with even more skills to teach them better. Ultimately, learning outcome is expected to improve.� Njideaka said the objective of the professional development session for teachers was to improve the quality of education provided for students in the secondary schools. According to her, the modules have been carefully selected to ensure immediate positive impact on teaching and learning activities in the schools.

Oxbridge Tutorial College Exposes A’ Level Students to Cambridge Biology Practical Funmi Ogundare As part of efforts to demonstrate the importance of science practicals to learning, Cambridge International recently took A’ Level students of Oxbridge Tutorial College through a practical experiment in Biology to enable them take record, observe the colour change, as well as to do quantitative and qualitative analysis of data. Speaking at the A’ Level activation recently, the Biology teacher of Oxbridge Tutorial College, Mr. Shona Oluwasegun said the essence of Cambridge

International Education was to develop research skills in the students so that they could plan an experiment, adding that A’ Level is more of the traditional Biology, Chemistry, Physics, Mathematics and Statistics. In testing for biological molecule for instance, he said the students must be able to identify a concentration of samples of glucose, sucrose and starch given to them. “When I carry out a test and based on the particular test carried out, you are going to have different colours, so the colour that they are observing

will give the students an idea of the concentration of that particular sugar.� Asked why schools usually have alternative to practicals, rather than the practicals itself, he said: “One cannot overemphasise the importance of practicals for science students, a science student that cannot practicalise what he has learnt in class is basically more of an art student. You will just know theory and no practical whether it is Chemistry, Biology or Physics.� He said the ministry of education should be able to emphasise the importance of

practicals for students, which should be done on a weekly basis, adding that they should have an idea of how they will design an experiment as it is the beauty of science itself. Oluwasegun described his two years experience in teaching the students as exciting, saying, “we have different students with different levels of IQ and temperament. There are different aspects of teaching students to be able to adjust to the level of understanding. We call the test semi-quantitative because it gives us an idea of their understanding.�

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Corona Secondary School Graduates Class of 2019 in Style Having performed brilliantly in internal and external examinations within the time spent in the school, Corona Secondary School Agbara KEHINDE OMORU www.kayomoru.com recently held the 2019 graduation and valedictory service with the theme ‘Excellence a Culture’, where it celebrated its talented, hardworking and BE LETTERexceptional outgone students. Sunday Ehigiator reports AMBIDEXTROUS

L-R: The Chief Executive OďŹƒcer, Corona Schools’ Trust Council, Mrs. Adeyoyin Adesina; 2019 Valedictorian, Miss Shalom Emeka; Chairman, Corona Secondary School Board, Mr. Niyi Yusuf; Principal, Corona Secondary School, Agbara, Ogun State, Mrs. Chinedum Oluwadamilola; and Chairman Parent Teacher Association, Mr. Sola Falodun, during the Corona Secondary School’s 2019 graduation and valedictory service, held at the school compound... recentlyPHOTO: Etop Ukutt

There is nothing more accomplishing than producing the best people that will change the world, and in keeping with the tradition of excellence, Corona Secondary School, Agbara, Ogun State last week rolled out the drum to celebrate its exceptional 66 graduands during its 2019 graduation and valedictory service held at the school compound. Among the dignitaries present was the newly elected Deputy Governor of Ogun State, Mrs. Noimot Salako-Oyedele. In her welcome address, the Principal, Mrs. Chinedum Oluwadamilola highlighted some of accomplishments of the graduands, while commending them, saying, “you have been a talented, hardworking and well-behaved class. I am proud to have been your principal. “This class has demonstrated a propensity to succeed on the biggest of stages. Be it in the classroom, on the competition surface or in the community, they have displayed their talents, passions, skills, accomplishments and achievements. They produced outstanding results in the Cambridge International General Certificate of Secondary Education (IGCSE), with two of them: Anna Adobamen and Shalom Emeka, obtaining A-stars in all the subjects they had registered for. “Also worth savouring is their imposing Standardized Aptitude Test (SAT) results. Worthy of note over again is the fact that two of the students in the class of 2019 got second best SAT result in the world and best in the country, scoring 1550 out of 1600.� “Similarly, we have some of them scoring above 300 in the recently released Joint Admissions and Matriculation Board (JAMB) result. The class of 2019 had a strong representation in a group of students that won the Global Business Plan Award which had over 9,000 schools across the globe in contest. They are indeed trail blazers! “They have exhibited a commitment to the values and

culture upon which everything in Corona School is predicated. They have led by example and worked incredibly hard to foster, nurture, support, display, and instil the tenets of a positive, safe, and proud school culture and climate. We will be forever grateful for the indelible mark you have left on our learning community, on our hearts, and on me, personally. Oluwadamilola added: “The theme of this year’s graduation ceremony, ‘Excelencia Como Cultura (Excellence as a Culture) lies at the very heart of Corona Secondary School’s essence. Excellence is an indispensable one of a number of core values that provide strong anchorage to the school’s avowed mission and vision. The avowal has known no toss nor stray, owing to its pillaring with our core values. For us, excellence is a culture, our way of life in CSS. We all lead this very life happily, cashing into emergent trends. The understanding that excellence is transient harps for us. We therefore consistently make an onward thrust to the better than the now’s best. We believe that best is improvable. It is this attitude that keeps Corona Secondary School on the top ladder in the educational world,� she said. The guest speaker and Chairman, BoT, Supreme Education Foundation, Mr. Peter Bankole, admonished the graduands to uphold the spirit of excellence in all they do, as they embrace the world. “For me, the preparation that you have gone through here is a foundation of how a life that is worthy starts. I have no doubt that even the theme that has been chosen for this graduation is very apt. Excellence is not something that happens. It is something you plan for and you do in a very meticulous way. And when you do it consistently, it then becomes a culture. “And once excellence becomes a culture, it is very difficult for you to see mediocre and associate

with it. Everything you do, even in your personal life, would be different. But it is a commitment much more than something else. And I can only admonish you to keep the excellent flag flying as you depart from here today into the rest of your bright futures.� The high point of the occasion was the presentation of various categories of awards and endowments to some outstanding graduands by the school and other professional bodies, parents and individuals. While the Head Boy and Head Girl of the set, Chidindu Okpaleke and Chizoma Duru both earned the service award, special awards and endowments in various subjects were presented to Chibuike Udenta, Shalom Emeka, Nneka Okolo, Chizoma Duru, Raqeem Kukoyi, Memunat Abiru, Anna Adobamen, Mercy Ipinmoye, Abimbola Akala, Chizoma Duru, Nzubechukwu Okoye, Daniel Ihekweme, and Oluwaseyitafe Ajayi respectively with Chizoma Duru bagging most of the special awards categories, winning four out of possible eight, and Mercy Ipinmoye emerging as most endowed with seven endowment funds won. The valedictorian, salutatorian and the third best overall, Shalom Emeka, Anna Adobamen and Memunat Abiru stole the show with their overall academic performance assessment to emerge as the school’s top three graduands. Emeka scored 91.39 per cent, Adobamen 89.67 per cent, while Abiru scored 88.78 per cent. Speaking with THISDAY, the valedictorian who could not conceal her excitement said her journey in the school, which started six years ago, was one that confronted her with several challenges, but with the help from the school structure, she triumphed at the end of the day. “It started six years ago. I was still getting used to the idea of been in a boarding school and secondary school, and used to think life was all about fun and games. But it took a lot of

dedication and hard work as instilled by the school and my parents to keep my eyes on the prize and keep looking forward. And I also thank God for being there for me even when I didn’t believe in myself. I remembered one of my setbacks in one of the terms I didn’t emerge first in my class as I used to. It was a real setback for me emotionally, but God helped me through it and I bounced back better than I have ever been.� Emeka intends to study Product Design Engineering in the United Kingdom. Adobamen on her part said the journey went by a flash. “It wasn’t easy, it was stressful but fun. There were ups and downs for me especially in my year 9 and 12, but with the help of the school and my parents, I was able to remain focused and know what is important. In year 12, I had over four external exams to sit for and at a point I felt really overwhelmed, but thanks to God, the teachers, and parents, I was able to pull through. “Aside academics, Corona has made me very confident in myself, learn how to manage time, and always pursue excellence in all I do. From here, I would be moving over to the United State of America to study Electrical Engineering.� For Abiru, it is quite unbelievable. “I can still remember my first day in year seven, coming into the school as a new student. I am an extrovert who keeps my close friends close. In all, Corona has helped me learn to deal with pressure and stress. Me being someone that engages in a lot of extra-curriculum activities, especially sports and music, the school schedule helped me to manage my time more, so to fit in into all I do and excel in them. Abiru will be heading to Philadelphia, US, where she hopes to study Neuroscience. “I am fascinated about the human body and intrigued mostly on the brain and how it works,� she said.

Ă˜Ă? ĂžĂœĂ‹ĂŽĂ“ĂžĂ“Ă™Ă˜Ă‹Ă– ĂŒĂ&#x;Ăž Ă‹Ă‘Ă?Ă–Ă?Ă?Ă? Ă˜Ă‘Ă–Ă“Ă?Ă’ ÓÎÓÙ× Ă‹ĂŽĂ—Ă™Ă˜Ă“Ă?Ă’Ă?Ă? ÞÒËÞ ĂŁĂ™Ă&#x; ËŠĂœĂ?Ă‹ĂŽ ĂŒĂ?ÞåĂ?Ă?Ă˜ ÞÒĂ? Ă–Ă“Ă˜Ă?Ă?ËŞË› Ă˜Ă™ĂžĂ’Ă?Ăœ Ă Ă“Ă˜ĂžĂ‹Ă‘Ă? Ă‹Ă˜ĂŽ Ă?Ă‹Ă—Ă™Ă&#x;Ă? Ă™Ă˜Ă? Ă‹ĂŽĂ Ă“Ă?Ă?Ă? ÞÒËÞ ĂŁĂ™Ă&#x; ËŠĂœĂ?Ă‹ĂŽ ÞÒĂ? Ă?Ă—Ă‹Ă–Ă– ĂšĂœĂ“Ă˜ĂžĂ?ËŞË› ÙÞÒ Ă˜Ă‹ĂœĂœĂ‹ĂžĂ“Ă Ă?Ă? Ă?Ă‹Ă–Ă– Ă?Ă™Ăœ ĂšĂœĂ™Ă?Ă“Ă?Ă“Ă?Ă˜Ă?ĂŁ Ă“Ă˜ Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă–Ă‹Ă˜Ă‘Ă&#x;Ă‹Ă‘Ă? Ě™ Ă˜Ă‘Ă–Ă“Ă?Ă’ Ă‹Ă? ĂĄĂ?Ă–Ă– Ă‹Ă? ÙÞÒĂ?Ăœ Ă–Ă‹Ă˜Ă‘Ă&#x;Ă‹Ă‘Ă?Ă?Ěš ĂĄĂ™ĂœĂ• Ă?Ă™Ăœ ĂŁĂ™Ă&#x;Ë› Ă?Ă‹ĂŽĂ“Ă˜Ă‘ ĂŒĂ?ÞåĂ?Ă?Ă˜ ÞÒĂ? Ă–Ă“Ă˜Ă?Ă? Ă‹Ă?Ă•Ă? Ă&#x;Ă? ÞÙ Ă?Ă?Ă?Ă• Ă™Ăœ ĂŽĂ“Ă?Ă?Ùà Ă?Ăœ Ă‹Ă˜ Ó×ÚÖÓĂ?ĂŽ ĂœĂ‹ĂžĂ’Ă?Ăœ ĂžĂ’Ă‹Ă˜ Ă‹Ă˜ Ă?âÚÖÓĂ?Ă“Ăž Ă™Ăœ ĂŽĂ“ĂœĂ?Ă?ÞÖã Ă?ÞËÞĂ?ĂŽ Ă—Ă?Ă‹Ă˜Ă“Ă˜Ă‘ Ă™Ă? Ă‹ ĂĄĂœĂ“ĂžĂžĂ?Ă˜ Ă™Ăœ Ă?ÚÙÕĂ?Ă˜ Ă˜Ă‹ĂœĂœĂ‹ĂžĂ“Ă Ă?Ë› Ă™Ă&#x; ĂĄĂ™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă‹ Ă‘ĂœĂ?Ă‹Ăž Ă?Ù××Ă&#x;Ă˜Ă“Ă?Ă‹ĂžĂ™Ăœ Ă“Ă? ĂŁĂ™Ă&#x; Ă’Ă‹ĂŽ Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă? Ă“Ă˜ Ă?Ă™ĂœĂœĂ?Ă?ÞÖã ĂŽĂœĂ‹ĂĄĂ“Ă˜Ă‘ Ă™Ă&#x;Ăž Ă—Ă?Ă‹Ă˜Ă“Ă˜Ă‘ Ă?ĂœĂ™Ă— ĂĄĂ’Ă‹Ăž Ă“Ă? Ă?Ă‹Ă“ĂŽ Ă™Ăœ ĂĄĂœĂ“ĂžĂžĂ?Ă˜Ë›

Ă˜ ÞÒĂ? ÙÞÒĂ?Ăœ Ă’Ă‹Ă˜ĂŽËœ ĂœĂ?Ă‹ĂŽĂ“Ă˜Ă‘ ÞÒĂ? Ă?Ă—Ă‹Ă–Ă– ĂšĂœĂ“Ă˜Ăž Ă?Ă˜Ă?Ă™Ă&#x;ĂœĂ‹Ă‘Ă?Ă? ÞÒËÞ ĂŁĂ™Ă&#x; Ă—Ă‹Ă•Ă? ĂŁĂ™Ă&#x;ĂœĂ?Ă?Ă–Ă? Ă‹ĂĄĂ‹ĂœĂ? Ă™Ă? Ă?ĂšĂ?Ă?Ă“Ă?Ă“Ă? ĂžĂ?ĂœĂ—Ă?Ëœ Ă?Ă™Ă˜ĂŽĂ“ĂžĂ“Ă™Ă˜Ă?Ëœ ĂœĂ?Ă?ĂžĂœĂ“Ă?ĂžĂ“Ă™Ă˜Ă? Ă™Ă? Ă‹Ă‘ĂœĂ?Ă?Ă—Ă?Ă˜ĂžĂ?Ëœ Ă?Ă™Ă˜ĂžĂœĂ‹Ă?ĂžËœ ĂŽĂ™Ă?Ă&#x;Ă—Ă?Ă˜Ăž ÞÒËÞ Ă’Ă‹Ă Ă? ĂŒĂ?Ă?Ă˜ Ă?ÞËÞĂ?ĂŽ Ă“Ă˜ Ă Ă?ĂœĂŁ Ă?Ă—Ă‹Ă–Ă– ĂšĂœĂ“Ă˜Ăž Ă‹Ă˜ĂŽ Ă‹Ă?ĂžĂ&#x;Ă‹Ă–Ă–ĂŁ Ă—Ă™Ă?Ăž ÞÓ×Ă?Ă? Ă‘Ă™ Ă&#x;Ă˜Ă˜Ă™ĂžĂ“Ă?Ă?ĂŽË› Ă‹Ă˜ĂŁ ĂŒĂ?Ă˜Ă?Ă?Ă“ĂžĂ? Ă‹ĂœĂ? Ă?Ă™ĂœĂ?Ă?Ă“ĂžĂ?ĂŽ ÞÙ Ă“Ă˜Ă?Ă&#x;ĂœĂ?ĂœĂ?Ëœ ÒÙÞĂ?Ă–Ă“Ă?ĂœĂ?Ëœ Ă?ÒÙÚĂ? Ă‹Ă˜ĂŽ Ă?Ă Ă?Ă˜ Ă?×ÚÖÙãĂ?ĂœĂ? ĂŒĂŁ Ă˜Ă™Ăž ĂœĂ?Ă‹ĂŽĂ“Ă˜Ă‘ ÞÒĂ? Ă?Ă—Ă‹Ă–Ă– ĂšĂœĂ“Ă˜ĂžË› Ă™Ă?Ă?Ă˜ËŞĂž ÞÒÓĂ? Ă˜Ă“Ă?Ă?Ă–ĂŁ Ă?Ă&#x;Ă— Ă&#x;Ăš Ă™Ă&#x;Ăœ ĂŽĂ‹Ă“Ă–ĂŁ Ă–Ă“Ă?Ă? Ă?âĂšĂ?ĂœĂ“Ă?Ă˜Ă?Ă?Ă?ËŁ Ù×Ă? ĂžĂ’Ă“Ă˜Ă‘Ă? Ă‹ĂœĂ? ĂŽĂ“ĂœĂ?Ă?ÞÖã Ă™ĂŒĂ Ă“Ă™Ă&#x;Ă? ĂĄĂ’Ă“Ă–Ă?Ăž ÙÞÒĂ?ĂœĂ? Ă?âĂ“Ă?Ăž Ă“Ă˜ Ă™ĂŒĂ?Ă?Ă&#x;ĂœĂ“ĂžĂŁ Ă‹Ă˜ĂŽ ĂœĂ?Ă›Ă&#x;Ă“ĂœĂ? Ă?Ù×Ă? Ă?Ă?Ă?Ă™ĂœĂž ÞÙ Ă?Ù×Ă? ÞÙ ÞÒĂ? Ă?Ă™ĂœĂ?Ë› Ă˜ Ă?Ă‹Ă?Ăž Ă—Ă‹Ă˜ĂŁ ĂžĂ’Ă“Ă˜Ă‘Ă? ÞÒËÞ Ă‹ĂœĂ? ĂŽĂ“ĂœĂ?Ă?ÞÖã Ă™ĂŒĂ Ă“Ă™Ă&#x;Ă? Ă‹ĂœĂ? Ă™Ă˜Ă–ĂŁ ĂšĂ‹ĂœĂžĂ–ĂŁ Ă•Ă˜Ă™ĂĄĂ˜ Ă—Ă‹Ă˜ĂŁ ÞÓ×Ă?Ă?Ë› Ă‹Ă Ă? ĂŁĂ™Ă&#x; ĂžĂœĂ“Ă?ĂŽ ÞÙ Ă“Ă˜Ă Ă?Ă?ÞÓÑËÞĂ? ĂžĂ’Ă“ĂœĂŽĚ‹ĂšĂ?ĂœĂ?Ă™Ă˜ Ă˜Ă‹ĂœĂœĂ‹ĂžĂ“Ă™Ă˜Ă?ËŞ Ă™Ă? Ă™Ă˜Ă? Ă“Ă˜Ă?Ă“ĂŽĂ?Ă˜Ă?Ă?ËŁ ĂŁ ËŠĂžĂ’Ă“ĂœĂŽĚ‹ĂšĂ?ĂœĂ?Ă™Ă˜ Ă˜Ă‹ĂœĂœĂ‹ĂžĂ“Ă™Ă˜ËŞ Ă—Ă?Ă‹Ă˜ Ă?ÞËÞĂ?Ă—Ă?Ă˜ĂžĂ? ÞÒËÞ Ă?Ă™Ă˜ĂžĂ‹Ă“Ă˜ Ă‹ ÖÙÞ Ă™Ă? ËŠĂ’Ă? Ă?Ă‹Ă“ĂŽËŞËœ ËŠĂ?Ă’Ă? ÞÒÙĂ&#x;Ă‘Ă’ĂžËŞËœ ˊÞÒĂ?ĂŁ ĂžĂœĂ“Ă?Î˪˛˛˛ Ă‹Ă Ă? ĂŁĂ™Ă&#x; Ă˜Ă™ĂžĂ“Ă?Ă?ĂŽ ÒÙå ĂŽĂ“Ă?Ă?Ă?ĂœĂ?Ă˜ĂžĂ–ĂŁ ĂœĂ?ĂšĂ™ĂœĂžĂ?ĂŽ ÞÒĂ?ĂŁ Ă‹ĂœĂ?ËŁ Ă?Ă‹ĂŽĂ“Ă˜Ă‘ ĂŒĂ?ÞåĂ?Ă?Ă˜ ÞÒĂ? Ă–Ă“Ă˜Ă?Ă? Ă‹Ă˜ĂŽ ĂœĂ?Ă‹ĂŽĂ“Ă˜Ă‘ ÞÒĂ? Ă?Ă—Ă‹Ă–Ă– ĂšĂœĂ“Ă˜ĂžĂ? ĂŒĂ™ĂžĂ’ ĂœĂ?Ă›Ă&#x;Ă“ĂœĂ? Ă‹ ĂŽĂ?Ă‘ĂœĂ?Ă? Ă™Ă? Ă?Ă•Ă“Ă–Ă?Ă&#x;Ă–Ă˜Ă?Ă?Ă? Ă‹Ă˜ĂŽ ĂœĂ™ĂŒĂ&#x;Ă?Þ̋Ă?Ă&#x;Ă–Ă–Ă˜Ă?Ă?Ă?Ë› Ă™Ă&#x; Ă‹ĂœĂ? Ă‹Ă•Ă“Ă˜ ÞÙ ÞÒËÞ ˊÞÙÞËÖ ĂšĂ?ĂœĂ?Ă™Ă˜ËŞ Ă?Ă™Ă˜Ă?ĂžĂœĂ&#x;Ă?Ăž Ă“Ă? ĂŁĂ™Ă&#x; Ă’Ă‹Ă Ă? ÞÒĂ?Ă?Ă? Ă?Ă•Ă“Ă–Ă–Ă?Ë› Ă–Ă?Ă‹Ă?Ă? Ă’Ă?Ă–Ăš ĂŁĂ™Ă&#x;ĂœĂ?Ă?Ă–Ă? ÞÙ ÞÒĂ? Ă?Ă’Ă?Ă?Ă•Ă–Ă“Ă?Ăž ĂŒĂ?ÖÙå ÞÙ Ă?Ă“Ă˜ĂŽ Ă™Ă&#x;Ăž ĂĄĂ’Ă?ÞÒĂ?Ăœ ĂŁĂ™Ă&#x; ÚÙĂ?Ă?Ă?Ă?Ă? ÞÒĂ? Ă?Ă•Ă“Ă–Ă–Ă? ĂœĂ?Ă›Ă&#x;Ă“ĂœĂ?ĂŽË? Ëž Ă™Ă&#x; Ă‹ĂœĂ? Ă‘Ă?Ă˜Ă?ĂœĂ‹Ă–Ă–ĂŁ Ă™ĂœĂ‘Ă‹Ă˜Ă“Ă?Ă?ĂŽ Ëž Ă™Ă&#x; Ă‹ĂœĂ? Ă‘ĂœĂ?Ă‹Ăž Ă‹Ăž Ă?Ă?Ă–Ă?̋ÞÓ×Ă? Ă‹Ă˜ĂŽ ÞËĂ?Ă•Ě‹Ă‹Ă–Ă–Ă™Ă?Ă‹ĂžĂ“Ă™Ă˜ Ëž Ă™Ă&#x; Ă‹ĂœĂ? ĂĄĂ?Ă–Ă– ×ÙÞÓà ËÞĂ?ĂŽ Ëž Ă™Ă&#x; Ă‹ĂœĂ? Ă‹ Ă–Ă“Ă?ĂžĂ?Ă˜Ă?Ăœ Ëž Ă™Ă&#x;ËŞĂ Ă? ÑÙÞ ĂšĂœĂ“Ă˜ĂžĚ‹Ă‹ĂĄĂ‹ĂœĂ?Ă˜Ă?Ă?Ă? Ă‹Ă˜ĂŽ Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽ ÞÒĂ? Ă–Ă‹Ă˜Ă‘Ă&#x;Ă‹Ă‘Ă? Ëž Ă™Ă&#x; Ă‹ĂœĂ? Ă‘Ă?Ă˜Ă?ĂœĂ‹Ă–Ă–ĂŁ ÑÙÙÎ Ă‹Ăž ĂšĂœĂ?ĂšĂ‹ĂœĂ‹ĂžĂ“Ă™Ă˜ Ă‹Ă˜ĂŽ ĂœĂ?Ă Ă“Ă?ĂĄ Ëž Ă™Ă&#x; Ă‘Ă?Ă˜Ă?ĂœĂ‹Ă–Ă–ĂŁ Ă’Ă‹ĂžĂ? Ă?Ă&#x;ĂœĂšĂœĂ“Ă?Ă?Ă? Ëž Ă™Ă&#x; Ă‹ĂœĂ? ĂšĂœĂ™Ă‹Ă?ÞÓà Ă? Ëž Ă™Ă&#x; Ă‘Ă?Ă˜Ă?ĂœĂ‹Ă–Ă–ĂŁ ÖÙÙÕ Ă™Ă&#x;Ăž Ă?Ă™Ăœ Ă™ĂšĂšĂ™ĂœĂžĂ&#x;Ă˜Ă“ĂžĂ“Ă?Ă? Ă‹Ă˜ĂŽ ĂŒĂ?Ă˜Ă?Ă?Ă“ĂžĂ? Ëž Ă™Ă&#x; Ă‹ĂœĂ? Ă‹ĂŒĂ–Ă? ÞÙ Ă?Ă™Ă˜ĂžĂœĂ™Ă– ĂŁĂ™Ă&#x;Ăœ Ă&#x;ĂœĂ‘Ă?Ă? ÞÙ Ă?Ă•Ă“Ă— ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ ĂžĂ’Ă“Ă˜Ă‘Ă? Ëž Ă™Ă&#x; Ă‹ĂœĂ? Ă‘Ă?Ă˜Ă?ĂœĂ‹Ă–Ă–ĂŁ ĂœĂ?Ă?Ă™Ă&#x;ĂœĂ?Ă?Ă?Ă&#x;Ă– Ă‹Ă˜ĂŽ ĂĄĂ“Ă–Ă– Ă—Ă‹Ă•Ă? Ă–Ă‹ĂžĂ?ĂœĂ‹Ă– ×Ùà Ă?Ă? ÞÙ Ă‹ĂŽĂ Ă‹Ă˜Ă?Ă? Ă‹ Ă?Ă™Ă&#x;ĂœĂ?Ă? Ëž Ă™Ă&#x; Ă‘Ă?Ă˜Ă?ĂœĂ‹Ă–Ă–ĂŁ Ă’Ă‹Ă Ă? ĂšĂœĂ™ĂŒĂ–Ă?Ă—Ě‹Ă?Ă™Ă–Ă Ă“Ă˜Ă‘ ĂžĂ?Ă˜ĂŽĂ?Ă˜Ă?Ă“Ă?Ă?Ë›

Mrs Kehinde Omoru writes from the UK

Greenwood House School Wins APEN Spelling Bee Contest Greenwood House School, Ikoyi has won the Association of Private Educators in Nigeria (APEN)/Grace Schools Senior Primary Spelling Bee Competition. The competition tagged ‘Super Spellers’ had 51 participants from various schools in Lagos and held at Grace School, Gbagada recently. Fitrah Adegbite, a 10-yearold primary five student, who represented Greenwood House School in the competition, said his achievement was as a result of the support and training given to him by his teachers. He also expressed delight that his hard work and commitment paid off. Commenting on the students’ performance in the competition, the co-founder and Administrator of Greenwood House School, Mrs. Ekua Abudu, explained that the school is always committed to giving its students the best education. In view of this, she said the teachers spend quality time preparing students for competitions like this and the management is impressed with the success of the competition. On how the students are prepared for spelling competitions, Abudu said: “The students practice at least three times daily. A teacher is primarily assigned to each student with other teachers to support. They practice first thing in the

morning immediately they arrive in school till 8:30 am. Next, they practice at 10:15 am-10:30 am and finally at 1:05-1:30 pm. Sometimes they spare time after school to train. We applaud competitions like this as they play a role in motivating students to work hard and we are extremely grateful for the opportunity extended to us to partake.� In another development, the school has been awarded membership status by the Council of British International Schools (COBIS). COBIS is an organisation in service of British International Schools around the world. This membership indicates total quality assurance and reiterates Greenwood House School’s commitment to all round quality education for students and its dedication to teacher training. The Principal of Greenwood House School, Mr. Ronald Cilliers expressed delight on the COBIS membership, saying, “this membership status simply attests to the quality of education that we provide for our students and the opportunities we create for our teachers to excel. We will continue to put our best foot forward in educating our students and providing a solid educational foundation for them.�

35

T H I S D AY Ëž ÍŻÍ°Ëœ Ͱ͎ͯ͡

The Niger Delta Investiture Ceremony Ingezi Idoni

I

nvestiture ceremony in any academic community is counted as one of the oldest traditions in the academia. The origin of this ceremony is patterned after highly dignified knighthood ceremonies where they are decorated with highly revered robes and hoods, with solemn procession to celebrate the awardees for literally writing their names in the academic insignia and regalia of service to a university. Many universities across the world have designed their own system of investiture. For instance, Fort Valley State University in the United States of America in 1895, introduced investiture on the vice- chancellor of the university as a significant event in the life of the institution and marked it with pomp and pageantry by inviting other universities to participate in the august ceremony. The honourees must be qualified to have left an indelible mark in the history of the university. This is where Professor Samuel Edoumiekumo’s novel introduction of investiture at the Niger Delta University becomes historic. Wednesday, April 17, 2019 will ever remain green in the academic calendar of the university. It was a day all roads leading to the institution at the Wilberforce Island appeared bright, green and beautiful when the Edoumiekumo-led management rolled out a special red carpet to honour serving professors, including those who had served and left for other institutions or for greener pastures. The ceremony was the first of its kind in the history of Nigeria academia to honour 36 of their own who had paid their dues in terms of their contributions to academic excellence and administrative service to the Niger Delta University. It was an epic ceremony, which attracted important dignitaries, including traditional rulers, top government officials, serving professors, friends and relatives of recipients of the award who came in their large numbers to grace the occasion. The investiture ceremony organised by the Niger Delta University witnessed the conferment of professorship on individuals who had earned it by dint of toiling in the academia. It was a special moment in the life of scholars of the institution for distinguishing themselves in scholarship through their contribution to knowledge and development of the

The Vice-Chancellor, Niger Delta University, Professor Samuel Edoumiekumo society in general, as the awardees filed out in their enviable academic regalia to receive the honour. Some persons may ask, what is the importance of the occasion? Definitely, those who got the special recognition were not only elated, but aware in the depth of their heart that the ceremony provided them yet another opportunity of a renewed sense of belonging in an institution which they had given their best in the development of human capital for the greater good of the society. One of the guests who simply gave his name as Dr. Walter aptly said: “I came to join my brother who had served the university meritoriously. We are very happy about the professorship recognition. It shows that the university appreciates their service. We sincerely appreciate the ingenuity and innovative character of VC Edoumiekumo. He is a great guy with great ideas.� Furthermore, the investiture is a bold step at erasing the aphorism that teachers’ honour or reward is in heaven, as the honour conferred on people who have burnt the academic candle, is a

positive signal that the labours of our heroes past in the academic community shall never be in vain. The vice-chancellor, who was among the honourees that had delivered the institution’s inaugural lecture captured the essence of the event when he stated in his opening address that: “It is to the glory of the Almighty God that this investiture ceremony is to remind all honourees that as you have had the opportunity to present your inaugural lectures, the university acknowledges your contributions through research activities, to the development of humanity in the Niger Delta University, Bayelsa State, Nigeria and globally. This is the reason, among others, why today’s investiture is unique in all ramifications.� Interestingly, the 36 recipients have all delivered the university inaugural lectures, which is a priviledge lecture by professors for the purpose of proffering solutions to specific problems the society is contending with. Besides rekindling the hope and pride of teaching and research in the university as a citadel of learning, the

investiture has sent a strong signal to the academic community that the university values the sacrifice and service of its teaching staff, whether retired or not. This is indeed capable of attracting international scholars of repute to the institution in the overall interest of promoting academic excellence. The Pro-Chancellor and former acting Director-General of Nigeria’s Internal Security Service, Mr. Mathew Seiyefa told the recipients during a brief address at the occasion, of the importance of the historic ceremony. According to him, “the investiture ceremony in your honour is a challenge to you to be more valuable by using your academic and professional experience to advance creativity, excellence and service mandate depicted by the motto of the Niger Delta University.� He reminded them that “globally, investiture ceremony is that of recognition among professionals who have distinguished themselves in their various professions or careers. It is therefore a rare privilege to be honoured by the Niger Delta University, having contributed significantly through teaching, research and development services to the growth and development of Nigeria and the world at large.� While appreciating the vice-chancellor and his team for the brilliant idea of introducing a ceremony of this nature, the honourees should keep at the back of their mind as rightly pointed out by the VC, that he who much is given, more is expected. The award and recognition conferred on the professors is a no mean honour. They should translate their intellectual exploits to concrete reality by finding solutions to the developmental challenges facing the country. The management on its part should continue to maintain the tempo by keeping the ceremony alive for its greater good. Moreover, while the government, graduands of the institution and the society expect much from the honourees, the government of Bayelsa State should muster the political will to increase funding of the university for both research and infrastructure purposes. Above all, the investiture initiative is not only well placed, but deserves commendation as it has opened a new vista for promoting and deepening the culture of academic excellence, truly in line with the spirit of university as a universal community. -Idoni is a public affairs analyst

Stanbic IBTC Partners JAN to Organise OMEP Restates Commitment to Total Child, Celebrates Children’s Day in Lagos Moneybee Competition Ugo Aliogo As part of efforts to promote financial literacy in the country, Stanbic IBTC, in partnership with Junior Achievement Nigeria (JAN), organised moneybee competition, aimed at equipping secondary school students with information about financial management. Speaking at the event to mark this year’s Children’s Day in Lagos, the Chief Executive Officer, Dr. Demola Sogunle said the bank is aligned with the project that it has been running over the years, adding that the competition is aimed at building financing literacy and equipping the children with knowledge of a lifetime. While highlighting the importance of education, Sogunle said at a young impressionable age, schooling or getting an education might seem like a difficult chore, “some people might even tell you that it is

not important, believe me it is.� He urged the children to remember that education gives them a competitive chance in life and a good education can open them up to a life of ease; so they should take their education seriously. “There is need for discipline and good mentors. Discipline means self-control, which is a sign of inner strength and control of yourself, your actions and reactions. It gives you the power to stick to your decisions and follow them through without changing your mind. If you must do things out of habit, make sure that the habit is one that you have built deliberately, is progressive and not destructive. “You should also identify good role models and learn from them. A good mentor will help you achieve your goals faster because you will learn from their previous mistakes. “Sign up and take every good opportunity to volunteer- even

for free. Volunteering apprenticeship is a smart way to gain experience and learn life lessons. It opens you up to the realities of life and gives you an opportunity to build your network. “Volunteering for a good cause boosts your resume and gives you confidence in what you would have achieved. Always seek to improve yourself and look for growth opportunities. Life is a marathon, not a sprint, you cannot afford to rest on your oars at any position you find yourself. You should keep moving, remain at whatever you are doing and keep in mind that continuous improvement is a sure way to being successful in life.� In her remarks, the Head, Human Capital, Stanbic IBTC, Olunfunke Amobi, said the purpose of the competition is to up skill the students in secondary school on financial literacy.

Ogechukwu Obi The Organisation Mondiale pour l’Education Prescolaire (OMEP), a world organisation for early childhood education, has reiterated the importance of identities and culture in early childhood education, stating that culture plays a significant role in the proper education of the child. The Chairperson of OMEP, Lagos State Chapter, Mrs. Olusola Adenmosun, who made this known recently in Lagos, said OMEP is committed to raising the bar on early childhood education by focusing on the core areas that will thoroughly improve knowledge impartation. Speaking during an event organised in commemoration of this year’s Children’s Day, Adenmosun said it was part of OMEP’s effort towards improving the awareness on childhood education, as well as to promote mutual understanding among children. The event, which held

at the Indoor Sports Hall of the University of Lagos, had over a thousand children in participation. Activities featured included learning sessions, quiz competition, cultural displays, drama and others. The children were also provided with gifts to commemorate the day amidst fanfare and other exciting programmes. With the theme ‘Identities and Cultures in Early Childhood Education’, Adenmosun said the annual event is part of OMEP’s effort to raise the pedestal in promoting the importance of early childhood education in the development for every child, stressing that OMEP’s aim is to push for the optimal condition for all children and ensure their well-being, development and happiness within their family units and in the communities they live in. Speaking also, the National President, OMEP Nigeria, Lady Tokunbo Doherty said the organisation has set aside a day

every year to celebrate the ‘child’, adding that the event provides the opportunity to foster mutual interaction among the children and also deepen their knowledge about cultures and other relevant issues. Doherty stated that OMEP, which is currently established in over 70 countries, has special consultative status with UN and UNICEF and that it is represented at the meeting of other international organisations with similar aims. “OMEP defends and promotes the rights of the child to education and care worldwide and supports activities which improve access to quality education and care.� Also, the Chairperson of the Organising Committee Mrs. Abolade Adebayo explained that the group’s theme is chosen globally and localised by each country, adding that the theme is also the driving force of the World OMEP Congress holding in July in Panama.

36

WEDNESDAY JUNE 12, 2019 • T H I S D AY

WEDNESDAY JUNE 12, 2019 • T H I S D AY

37

38

T H I S D AY Ëž Ëœ ÍŻÍ°Ëœ 2019

BUSINESS/MONEYGUIDE

Female-owned Businesses to Propel Nigeria’s GDP Growth, Says UN Chief Peter Uzoho The United Nations Women Country Representative in Nigeria and ECOWAS, Ms Comfort Lamptey, has said that Nigeria’s Gross Domestic Product (GDP) will grow by 23 per cent or $229 billion by 2025, through contributions from women in the country. Lamptey, however, added that such huge contribution to the nation’s economy would only be realised if the right environment was created for women to participate equally with their male counterparts in the formal sector of the Nigerian economy. The UN representative stated this in Lagos, at the 13th CEO/Policy Maker Interactive Breakfast Series organised by the Women in Business (WimBiz), with the theme, “Hidden

Figures: The Cost of Exclusion.� The programme was cosponsored by Access Bank Plc, as part its ways of empowering women and also make their voices heard. Lamptey, who was referring to the report of a recent study, also stated that the economic imbalance and discriminatory social exclusion against women cost the world approximately $12 trillion annually. She said: “The CFR Women in Foreign Politics Programme and new Digital Report which is on growing economy through GFM Parity actually postulates that Nigeria’s GDP will grow by 23 per cent or $229 billion by 2025 if women participate in the economy to the same extent as man. “So clearly, we are looking at the gap that exists currently in participation and if we can

bridge that gap. One other hidden cost, if I may say so, not for Nigeria alone, is the cost to country GDP that derives from sexual harassment and imbalance globally. So imbalance and sexual harassment in the world of work affects women. “And the economic cost of this imbalance is that the global economic cost of discriminatory social exclusion balance against women is estimated to be approximately $12 trillion annually. “I think that we all know that in terms of workforce participation, men are participating in greater numbers; many women are in the informal sector. When we look at the increasing GDP and actually make women contribute to the formal sector of the economy, we will see a tremendous growth in the economy.�

L-R: Chief Executive Officer Union Bank, Mr. Emeka Emuwa; Chairman Board of Directors, Mr. Cyril Odu, and Company Secretary, Mr. Somuyiwa Sonubi, at the bank’s Extra-Ordinary General Meeting which held in Lagos...recently

Report: Central Bank Signals Weaker Official Naira Rate The Central Bank of Nigeria (CBN) has signalled it will allow the naira to weaken past its official rate as it gradually unwinds its regime of multiple exchange rates, Bloomberg cited data on the central bank’s website to have showed. The central bank stopped publishing the fixed naira exchange rate on its website and it now says that the rate will be “market-determined.’’ The central bank used to have an official rate as strong as N305 per dollar. That rate was used to ensure that some traders including, fuel importers, got cheap dollars. A move

toward a market-determined exchange rate will be welcomed by investors, who have long accused the government of some level of capital controls and bemoaned the system of multiple exchange rates. The central bank is in talks with other agencies to move to a single rate for the nation’s currency, the head of the Nigerian Investment Promotion Commission, Yewande Sadiku, had said last month. “Putting that on the website means the central bank is gradually moving towards a single exchange-rate window,� Kunle Ezun, a currency analyst

at Ecobank Transnational Inc in Lagos told Bloomberg. “It is making the exchange rate more liquid to attract more inflows.� Nigerian Customs Service told importers recently, to pay for duties at a weaker rate of 326 naira per dollar from 306 naira citing a directive from central bank, according to Jonathan Nicol, President of Shippers Association of Lagos State. Calls to central bank spokesman Isaac Okorafor didn’t connect and there was no reply to text messages. The interbank rate was 0.2 per cent weaker at N360.43 to a dollar yesterday.

NACETEM, NIPSS to Collaborate on Research, Capacity Building Fred Ojeh The National Centre for Technology Management (NACETEM), based at the Obafemi Awolowo University, Ile- Ife, Osun State, an agency under the Ministry of Science and Technology and the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Jos, Plateau State, have signed a Memorandum of Understanding (MoU), to fast track policy research, capacity building and consultancy services based on joint collaboration. The collaboration which is meant for all stakeholders, also included advocacy programmes, jointly

designed and delivered programmes, seminars, conferences for solving national challenges. NACETEM’s Spokesperson, Mr. Isaac Oluyi, in a chat with newsmen, quoted his Chief Executive Officer (CEO), Prof. Okechukwu Ukwuoma, to have said the synergy was also aimed at facilitating development of human capacity of the parties through exchange programmes. Also, the Director General, NIPSS, Mr. Jonathan Mela Juma, said: “The MoU will become effective before the end of 2019 as there is no need entering into an agreement that will not be functionalised.�

Ukwuoma, who appreciated the management of NIPSS, expressed the readiness of NACETEM to ensure that the MOU leads to sustainable development in the country. Meanwhile, NACETEM, also recently signed an agreement with the National Bureau of Statistics (NBS) in Abuja, to audit the country’s technological activities. The NBS collaboration came to the fore aftermath of its stakeholders’ workshop on Science Technology and Innovation (STI) indicator survey for the country and selected economic sectors which held in Abuja.

RIMAN to Hold 19th Annual Conference Nume Ekeghe The Risk Management Association of Nigeria (RIMAN), is organising her 19th annual international conference and training with the theme: “Economic Recovery and Development: Leveraging Technological Innovation.� The event is scheduled to hold in Lagos tomorrow and next. “It has become imperative to leverage technological Innovation to improve the design and enforcement of public policies. “With the evolution of modern technologies across the globe, the government and the private sector

must leverage new technologies to boost the Nigerian economy. “Historically, the level of technological application has been identified as closely related to economic progress and development. “Nigeria like most emerging economies is challenged with the task of sustainable development. “Subject matter experts and professionals have been assembled to deliver expert discussions at this conference, with Dr. Doyin Salami as the keynote speaker,� the organisers explained in a statement. The conference was described as the largest gathering of risk

professionals in Nigeria and would focus on how innovative technologies are reshaping the global economic landscape, by improving speed and ease of communication and interaction among the various economic sectors. “RIMAN conference is an annual tradition which brings together representatives of the public and private sectors to discuss topical issues in risk management, and also a platform for various stakeholders to share ideas and knowledge which would help to highlight salient issues with a view to proffering workable solutions.

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 MONDAY,10 MAY 2019

The price of OPEC basket of fourteen crudes stood at $63.01 a barrel on Monday, compared with $62.71 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

39

T H I S D AY Ëž Ëœ ÍŻÍ°Ëœ Ͱ͎ͯ͡

MARKET NEWS

Union Bank Shareholders Endorse Balance Sheet Reduction Goddy Egene Shareholders of Union Bank of Nigeria Plc yesterday approved the proposal by the board of directors for a N54.4 billion reduction from the bank’s Share Premium Account in a bid to restructure its balance sheet for optimal performance. The shareholders endorsed the move at an Extra-Ordinary General Meeting (EGM) in Lagos.

The directors had said the bank’s financial position as at December 31, 2018 indicated a deficit of N54.458 billion, representing accumulated permanent losses from legacy transactions. And in a bid to offset the negative retained earnings, the directors proposed the Share Premium Reduction in accordance with sections 106 and 107 of Companies and Allied Matters Act (CAMA). The directors said the trans-

P R I C E S MAIN BOARD

F O R

DEALS

action, which was subject to confirmation by the Federal High Court, would have no impact on the bank’s creditors or its shareholders’ funds but instead, is expected to pave the way for the payment of dividends to shareholders. Commenting on the development, the Chairman of the Board of Directors, Mr. Cyril Odu, said the bank’s focus on the delivering of value to its stakeholders.

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

He said: “Union Bank is on course towards delivering its 2019-2021 strategic objectives. As we continue our push towards being Nigeria’s most reliable and trusted banking partner, we remain focused on improving the profitability of our business and delivering value to all our stakeholders – shareholders, customers, business partners and employees.� Meanwhile, the equities market continued with its

T R A D E D MAIN BOARD

A S

losing streak as the Nigerian Stock Exchange (NSE) All-Share Index fell by 0.70 per cent to close lower at 30,099.83, while market capitalisation shed N97. 9 billion to be at N13.3 trillion. As a result, the year-to-date (YTD) decline worsened to 5.6 per cent. A total of 10 stocks appreciated, while 15 stocks depreciated. Unilever Nigeria Plc led with 8.2 per cent, Associated Bus Company Plc trailed with

O F

7.1 per cent, while Jaiz Bank Plc gained 4.3 per cent. Conversely, Sovereign Trust Insurance Plc led the price losers with 8.0 per cent, followed by Japaul Oil and Maritime Services Plc with a decline of 7.4 per cent. However, activity level was mixed as volume traded declined 5.6 per cent to 233.5 million shares while value traded rose 1.0 per cent to N3.5 billion.

1 1 / 0 6 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

40

˾ WEDNESDAY, JUNE 12, 2019

Wednesday, June 12, 2019 Thisday Afrinvest 40 Index Declines 0.3%

THISDAY AFRINVEST 40 INDEX

Yesterday, the Thisday Afrinvest 40 Index declined 33bps ƚŽ ƐĞƩůĞ Ăƚ ϭ͕ϯϬϳ͘ϰϯ ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŝŶ ZENITH (-Ϭ͘ϱйͿ͕ DANGCEM (-Ϯ͘ϭйͿ ĂŶĚ NIGERIAN BREWERIES (-ϭ͘ϳйͿ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ Ϯϲ͘ϳй ŽĨ ƚŚĞ ŝŶĚĞdž͘

>ŽĐĂů ŽƵƌƐĞ ŽŶƟŶƵĞƐ ĞĂƌŝƐŚ ZƵŶ͙ ASI down 0.7%

dŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ĚĞĐůŝŶĞĚ Ϭ͘ϳй Ăƚ ƚŚĞ ĐůŽƐĞ ŽĨ ƚƌĂĚĞ ƚŽ ƐĞƩůĞ Ăƚ ϯϬ͕Ϭϵϵ͘ϴϯ ƉŽŝŶƚƐ ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŝŶ DANGCEM (-Ϯ͘ϭйͿ͕ NIGERIAN BREWERIES (-ϭ͘ϳйͿ ĂŶĚ DANGSUGAR

(-ϰ͘ϰйͿ͘

ŽŶƐĞƋƵĞŶƚůLJ͕

ŵĂƌŬĞƚ

ĐĂƉŝƚĂůŝƐĂƟŽŶ ĨĞůů Eϵϳ͘ϵďŶ ƚŽ ĐůŽƐĞ Ăƚ Eϭϯ͘ϯƚŶ ǁŚŝůĞ zd ůŽƐƐ ĨƵƌƚŚĞƌ ǁĞĂŬĞŶĞĚ ƚŽ -ϰ͘ϯй͘ ĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ

Ticker

Current Price

THISDAY AFRINVEST 40

Price Previous Current Change Price Weightin YTD Change g

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divindend Earnings Yield Yield

1,307.43

-0.33%

-10.9%

30.7%

16.0%

5.5%

4.9x

0.7x

6.3%

1 Guaranty Trust Bank PLC

30.50

0.0%

19.2%

-11.5%

-11.6%

33.1%

5.3%

4.6x

1.5x

9.0%

22.0%

2 Zenith Bank PLC

20.15

-0.5%

12.2%

-12.6%

-2.8%

24.7%

3.2%

3.4x

0.8x

13.9%

29.5%

3 Dangote Cement PLC 4 Nestle Nigeria PLC

185.00

-2.1%

9.9%

-2.5%

-0.5%

40.1%

21.8%

8.3x

3.0x

8.7%

12.0%

1,450.00

0.0%

9.0%

-2.4%

-1.7%

81.2%

27.4%

24.3x

18.3x

4.0%

4.1%

57.00

-1.7%

4.6%

-33.3%

-25.5%

9.5%

4.4%

26.1x

2.6x

4.3%

3.8%

7.00

0.0%

5.2%

-11.9%

-12.5%

10.0%

1.1%

4.2x

0.5x

3.7%

23.8%

13.50

0.0%

3.5%

-30.4%

-30.4%

4.7%

4.3%

3.9x

0.5x

3.0%

25.5%

6.20

-1.6%

4.0%

-19.5%

-20.5%

15.5%

1.7%

2.6x

0.4x

13.7%

38.0%

5.0x

0.5x

3.5%

20.1%

7.9%

5 Nigerian Brew eries PLC 6 FBN Holdings Plc 7 Cement Co Northern Nigeria PLC 8 United Bank for Africa PLC 9 International Brew eries PLC 10 SEPLAT Petroleum Development C

14.9%

20.00

0.0%

2.6%

-34.4%

-36.5%

-23.8%

-3.2%

513.40

0.0%

3.2%

-19.8%

-17.3%

10.1%

6.3%

4.9x

-1.8%

11 Access Bank PLC

6.40

1.6%

3.6%

-5.9%

-1.5%

22.2%

2.1%

1.6x

0.4x

12 Ecobank Transnational Inc

9.80

0.0%

2.3%

-30.0%

-31.5%

15.3%

1.2%

2.8x

0.4x

13 Stanbic IBTC Holdings PLC

42.50

0.0%

2.7%

-11.4%

-8.4%

30.3%

4.6%

6.4x

1.7x

3.5%

14 Unilever Nigeria PLC

30.95

8.2%

2.3%

-16.4%

-16.4%

12.7%

7.7%

17.3x

2.1x

5.0%

ZENITH ;Ϯϴ͘Ϯŵ ƵŶŝƚƐͿ ĂŶĚ COURTVILLE ;Ϯϱ͘Ϯŵ ƵŶŝƚƐͿ

15 Lafarge Africa PLC

10.00

0.0%

1.5%

-19.7%

-16.7%

-53.7%

-7.9%

16 Guinness Nigeria PLC

47.50

0.0%

1.0%

-34.0%

-34.0%

6.8%

3.7%

15.9x

1.2x

4.1%

ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞƐ ďLJ ǀŽůƵŵĞ ǁŚŝůĞ MTNN ;Eϭ͘ϱďŶͿ͕

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

150.00

0.0%

1.1%

-26.1%

-26.1%

19.3%

4.5%

8.8x

1.7x

11.3%

11.4%

19 11 PLC

163.50

-3.8%

1.3%

-11.9%

-11.9%

38.0%

16.8%

5.5x

1.8x

5.0%

18.3%

13.95

0.0%

0.8%

-39.6%

-37.2%

6.6%

2.0%

6.4x

0.4x

7.2%

15.5%

21 Oando PLC

3.75

-2.6%

1.0%

-25.0%

-21.9%

14.3%

2.5%

1.7x

0.2x

22 Fidelity Bank PLC

1.73

0.6%

1.1%

-14.8%

-14.8%

12.7%

1.4%

2.1x

0.2x

6.4%

48.4%

ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ϱ͘ϲй ƚŽ Ϯϯϯ͘ϱŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϭ͘Ϭй ƚŽ Eϯ͘ϱďŶ͘ WAPIC ;ϱϬ͘ϯŵ ƵŶŝƚƐͿ͕

NIGERIAN BREWERIES ;Eϳϲϰ͘ϮŵͿ ĂŶĚ ZENITH ;Eϱϲϲ͘ϱŵͿ ůĞĚ ƚŚĞ ƚŽƉ ƚƌĂĚĞƐ ďLJ ǀĂůƵĞ͘

Insurance Index Emerges Lone Gainer WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ůĂƌŐĞůLJ ďĞĂƌŝƐŚ ĂƐ Ăůů ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ͕ ǁŝƚŚ ƚŚĞ ĞdžĐĞƉƟŽŶ ŽĨ ƚŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž ǁŚŝĐŚ ĂĚǀĂŶĐĞĚ ďLJ Ϭ͘ϱй due to demand in NEM ;нϮ͘ϰйͿ ĂŶĚ WAPIC ;нϮ͘ϱйͿ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ůĞĚ ĚĞĐůŝŶĞƌƐ͕ ĚŽǁŶ ϭ͘ϭй ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ DANGCEM (Ϯ͘ϭйͿ ĂŶĚ CUTIX (-Ϯ͘ϳйͿ͘ dŚĞ Kŝů Θ ŐĂƐ ŝŶĚĞdž ƚƌĂŝůĞĚ͕ ƐŚĞĚĚŝŶŐ Ϭ͘ϴй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ůŽƐƐĞƐ ŝŶ MOBIL (-ϯ͘ϴйͿ͘ /Ŷ ƚŚĞ ƐĂŵĞ ǀĞŝŶ͕ ƚŚĞ ĨƌŝŶǀĞƐƚ / d ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ĚĞĐůŝŶĞĚ Ϭ͘ϳй ĂŶĚ Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ĂƐ ŝŶǀĞƐƚŽƌƐ ĞdžŝƚĞĚ

20 Flour Mills of Nigeria PLC

DANGSUGAR (-ϰ͘ϰйͿ ŵĂƌŐŝŶĂůůLJ ƉƵůůĞĚ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ϮďƉƐ ůŽǁĞƌ͘

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϲdž ĨƌŽŵ Ϭ͘ϴdž

ABCTRANS ;нϳ͘ϭйͿ ǁĞƌĞ ƚŚĞ ďĞƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ǁŚŝůĞ CUTIX (-ϭϭ͘ϮйͿ͕ CCNN (-ϭϬ͘ϬйͿ ĂŶĚ COURTVILLE (ϵ͘ϭйͿ ůĞĚ ůĂŐŐĂƌĚƐ͘ tĞ ĞdžƉĞĐƚ ƚŚĞ ďĞĂƌŝƐŚ ƐĞŶƟŵĞŶƚ ŝŶ ƚŚĞ ŵĂƌŬĞƚ ƚŽ ƉĞƌƐŝƐƚ ŝŶ ƚŚĞ ŶĞĂƌ ƚĞƌŵ͘

Afrinvest West Africa Limited

5.8% -63.0% 6.3%

58.7%

1.13

-0.9%

1.0%

-14.4%

-10.3%

16.4%

3.6%

4.2x

0.7x

2.7%

23.7%

24 Dangote Sugar Refinery PLC

11.00

-4.3%

0.8%

-27.9%

-25.7%

22.3%

12.6%

5.5x

1.2x

10.0%

18.1%

26 FCMB Group Plc

1.66

0.0%

0.6%

-12.2%

-7.8%

8.8%

1.2%

2.1x

27 UAC of Nigeria PLC

6.40

0.0%

0.4%

-34.4%

-33.0%

-7.9%

-3.6%

25 Diamond Bank PLC 0.2x

8.4%

48.1%

0.3x

10.0%

-30.6%

2.36

-3.3%

0.7%

24.2%

24.2%

9.3%

0.9%

7.3x

0.6x

29 Presco PLC

58.00

0.0%

0.4%

-9.4%

-9.4%

7.3%

4.6%

15.2x

2.2x

3.6%

6.6%

30 NASCON Allied Industries PLC

14.80

0.0%

0.3%

-17.8%

-17.8%

32.2%

12.9%

9.7x

3.1x

6.8%

10.3%

31 Forte Oil PLC

28 Sterling Bank PLC

26.50

0.0%

0.3%

-3.5%

-5.4%

48.9%

7.4%

32 Union Bank of Nigeria PLC

7.00

0.0%

0.5%

25.0%

25.0%

6.6%

1.2%

12.2x

0.9x

33 Julius Berger Nigeria PLC

21.65

0.0%

0.3%

7.7%

-2.0%

19.9%

2.3%

4.4x

0.8x

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

-7.9% 8.2% 9.3%

7.35

0.0%

0.2%

-39.3%

-40.2%

0.7x

2.0%

0.0%

0.2%

-10.8%

-10.8%

68.7%

31.5%

10.5x

6.6x

9.4%

9.5%

0.59

-3.3%

0.2%

-6.3%

-6.3%

7.3%

0.7%

6.1x

0.4x

5.1%

16.3%

1.2x

1.7%

13.7%

75.00

0.0%

0.2%

9.8%

9.8%

16.00

0.0%

0.4%

133.6%

142.4%

-15.8%

-5.1%

39 Transcorp Hotels Plc

5.40

0.0%

0.1%

-11.5%

-9.2%

6.0%

3.2%

12.0x

0.7x

40 AXA Mansard Insurance PLC

1.91

0.0%

0.1%

4.4%

4.4%

11.0%

3.1%

8.4x

0.9x

T o p 10 G a i n e r s

7.3x

2.5x

-7.0% 2.8%

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

C H IP LC

0.22

10.0%

WA P IC

50.3

5.1%

UA C -P R OP

1.65

10.0%

Z EN IT H B A N K

28.2

-1.0%

A B CTRA NS

0.30

7.1%

C OUR T VILLE

25.2

-9.1%

J A IZ B A N K

0.48

6.7%

A C C ESS

25.1

1.6%

WA P IC

0.41

5.1%

ST ER LN B A N K

21.1

-3.7%

T ic k er

Vo lum e

P ric e C hg %

13.4

-1.7%

26.50

2.9%

NB

N EM

2.10

2.4%

M TNN

11.1

-1.1%

A C C ESS

6.40

1.6%

UB A

6.0

-0.8%

UA C N

6.40

1.6%

GUA R A N T Y

4.0

0.3%

UC A P

2.22

0.9%

UC A P

3.7

0.9%

T o p 10 L o s e r s

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

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

C UT IX

1.42

-11.2%

M TNN

1512.2

-1.1%

CCNN

13.50

-10.0%

NB

764.2

-1.7% -1.0%

P ric e C hg %

C OUR T VILLE

0.20

-9.1%

Z EN IT H B A N K

566.5

NA HCO

3.09

-8.8%

A C C ESS

157.3

1.6%

UN IT YB N K

0.64

-8.6%

GUA R A N T Y

123.2

0.3%

LA SA C O

0.30

-6.2%

ST ER LN B A N K

49.6

-3.7%

OA N D O

3.75

-6.2%

UB A

37.9

-0.8%

WEM A B A N K

0.59

-4.8%

SEP LA T

29.5

0.0%

D A N GSUGA R

11.00

-4.3%

D A N GC EM

29.0

-2.1%

LIN KA SSUR E

0.48

-4.0%

F LOUR M ILL

28.7

0.4%

Brokerage Ayodeji Ebo | aebo@afrinvest.com

8.3% 11.9%

P ric e

FO

22.8%

31.10

37 Beta Glass PLC

T ic k er

13.7%

2.0x

38 Dangote Flour Mills Plc

ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌĞǀŝŽƵƐ ĚĂLJ ĂƐ ϭϲ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ Ϯϱ ĚĞĐůŝŶĞƌƐ͘ CHIPLC ;нϭϬ͘ϬйͿ͕ UAC-PROP ;нϭϬ͘ϬйͿ ĂŶĚ

0.7x

15.7%

23 Transnational Corp of Nigeria

ƉŽƐŝƟŽŶƐ ŝŶ MTNN (-Ϭ͘ϳйͿ͕ UBA (-Ϯ͘ϬйͿ͕ ĂŶĚ ZENITH (ϭ͘ϱйͿ͘ &ŝŶĂůůLJ͕ NIGERIAN BREWERIES (-ϭ͘ϳйͿ ĂŶĚ

61.4% 36.3%

Asset Management

Investment Research

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

41

WEDNESDAY, JUNE 12, 2019 ˾ T H I S D AY

MARKET NEWS

NCMI/CISI Sign MoU to Boost Capital Market Growth Goddy Egene Nigerian Capital Markets Institute (NCMI), which is the educational and training arm of the Securities and Exchange Commission (SEC) and the Chartered Institute for Securities & Investment (CISI), United Kingdom, have commenced a partnership aimed at boosting the nation’s capital market.

At the signing ceremony in Lagos yesterday, Acting Director General of the SEC, Ms. Mary Uduk said the vision of the SEC management is for the NCMI to become a worldclass training institute and the first amongst its peers adding that It is in furtherance of this vision that the Commission entered into the partnership with the CISI (UK) to ensure professionalism in the

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

market. “As you all know, SEC has a dual mandate to regulate and develop the Nigerian capital market. In furtherance of its developmental mandate, the Nigerian Capital Market Institute (NCMI) was established in 2004 to promote human capacity development and bridge the knowledge gap in the financial services sector

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 10Jun-2019, unless otherwise stated.

with particular reference to the capital markets. “The NCMI offers a wide range of specialised training designed to equip market practitioners with the skills and technical knowledge needed for the efficient operation of our capital market. The institute also organises regulatory examinations for sponsored individuals of capital market operators to ensure that

they possess the requisite skills, knowledge and competence to engage in capital market operations and also to determine their suitability as fit and proper persons” she stated Uduk said both institutions shall collaborate to develop and strengthen the regulatory examinations currently being run by the NCMI and also work closely to

develop Nigeria-specific content for CISI’s professional refresher which shall form part of the Continuous Professional Development (CPD) for market operators in Nigeria. In his remarks, Chief Executive Officer of CISI, Mr. Simon Culhane expressed delight at the collaboration which he said would benefit investors in the capital market greatly.

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 145.87 147.90 -7.26% Afrinvest Plutus Fund 100.00 100.00 8.11% Nigeria International Debt Fund 276.68 276.68 1.27% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.88 0.88 4.22% ACAP Income Funds 0.76 0.76 34.05% 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 13.15% AIICO Balanced Fund 2.30 2.33 3.63% 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 15.45 15.92 -6.86% ARM Discovery Fund 344.21 354.59 -3.48% ARM Ethical Fund 29.03 29.91 2.81% ARM Money Market Fund 1.00 1.00 13.20% 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 96.51 97.19 -4.62% AXA Mansard Money Market Fund 1.00 1.00 12.60% 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 12.77% 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 100.00 100.00 13.01% Cordros Milestone Fund 2023 98.91 99.37 Cordros Milestone Fund 2028 98.87 99.18 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 12.56% Coronation Balanced Fund 0.82 0.83 Coronation Fixed Income Fund 1.20 1.20 6.89% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Heritage Fund 144.04 145.00 0.88% FBN Money Market Fund 100.00 100.00 12.89% FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail N/A N/A N/A FBN Nigeria Smart Beta Equity Fund 137.69 139.62 -8.21% 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 3.42 3.42 5.42% Legacy Equity Fund 1.12 1.14 -7.90% Legacy USD Bond Fund 1.05 1.05 2.11% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,023.29 3,052.06 1.28% Coral Income Fund 2,910.58 2,910.58 6.24% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 11.84% Nigeria Entertainment Fund 108.39 108.87 0.53% 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 N/A N/A N/A

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 N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A 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 1.21 1.24 5.82% Lotus Halal Fixed Income Fund 1,107.03 1,107.03 6.01% 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 10.67 10.76 -7.24% Meristem Money Market Fund 10.00 10.00 11.96% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.27 1.29 3.46% PACAM Fixed Income Fund 11.50 11.57 3.38% PACAM Money Market Fund 10.00 10.00 12.51% 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 119.64 120.43 -0.81% 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 5.21% 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 2,341.11 2,354.59 1.16% Stanbic IBTC Bond Fund 201.92 201.92 6.20% Stanbic IBTC Ethical Fund 0.90 0.91 -4.74% Stanbic IBTC Guaranteed Investment Fund 256.47 256.57 5.80% Stanbic IBTC Iman Fund 154.48 156.34 -5.27% Stanbic IBTC Money Market Fund 100.00 100.00 12.78% Stanbic IBTC Nigerian Equity Fund 7,922.84 8,023.59 -6.64% Stanbic IBTC Dollar Fund (USD) 1.11 1.11 2.70% 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 1.20 1.21 0.80% United Capital Bond Fund 1.70 1.70 6.93% United Capital Equity Fund 0.69 0.70 -2.95% United Capital Money Market Fund 1.00 1.00 13.20% United Capital Eurobond Fund 111.08 111.08 3.56% United Capital Wealth for Women Fund 1.13 1.14 3.66% 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 10.59 10.77 0.34% Zenith Ethical Fund Zenith Income Fund Zenith Money Market Fund

10.81 22.02 1.00

10.96 22.02 1.00

-4.50% 14.20% 11.60%

REITS NAV Per Share

Yield / T-Rtn

5.40 120.61 52.31

-44.85% 2.45% 1.10%

Bid Price

Offer Price

Yield / T-Rtn

9.97 97.26 80.69

10.07 99.32 82.18

-5.50% -17.09% -9.00%

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

3.55 6.15 13.15 10.65 155.91

3.59 6.23 13.25 10.85 157.91

-11.30% -19.13% -10.23% -13.75% 17.55%

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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WEDNESDAY JUNE 12, 2019 • T H I S D AY

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WEDNESDAY JUNE 12, 2019 ˾ T H I S D AY

NEWS

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

Obasanjo Condemns Imbalance in Nigeria’s Governance Structure Says Buhari driving the country towards disaster, instability Ejiofor Alike with agency reports With yesterday’s election of the Senate President, Senator Ahmed Lawan, former President Olusegun Obasanjo has decried the imbalance in the governance structure of the country, saying President Muhammadu Buhari’s administration was driving the country towards “disaster and instability”. Obasanjo who spoke with Premium Times, raised the alarm that the Senate president, Lawan, the acting Chief Justice of Nigeria (CJN), Justice Tanko Muhammad and President Muhammadu Buhari from what he called the core north. He said giving the key positions in the country to a particular region did not reflect geographical diversity. “The Senate president is from North-east; the acting chief justice of Nigeria (CJN) is from the North-east; the president of the country is from the North-west. They are all from what we call the core north. How can you have that kind of arrangement and then be absolutely insensitive to it (lack of geographical diversity)?” he queried. According to him, President Buhari-led government is driving Nigeria towards “disaster and instability”. The former president noted that although the country has made considerable progress since the new dispensation began in 1999, the pace at which it is currently moving shows the country may be inching towards disaster and instability. “I think we have no choice but to be on the path for sustainable development.

“The progress we are making may be questionable—-Is it fast enough? Is it steady enough? Is it stable enough? Are we taking two steps forward and one step back or one step side-way? “You can question that, but we have no choice but to be on (the) path for sustainable development. Any other thing will be a disaster. In fact, the pace at which we are going now is tending more and more toward disaster and instability and unsustainability. “The problem is that we are just not doing what we should be doing Nobody has that confidence, and we cannot develop Nigeria without that confidence in our economy both for domestic investors and foreign investors,” he explained. Speaking further on the state of the nation, Obasanjo said: “I set up two (anti-corruption) institutions; I came with two laws that were not there before, to fight corruption. And those who claim they are fighting corruption today have not brought in anything different. If anything, they have corrupted those two institutions. “And the institutions were open and independent. I never, never, as president had to say to either the head of ICPC or EFCC: ‘Oh, chase this person’. “Nigeria was a pariah state. Within the first four years (19992003)… we actually hosted the commonwealth. And Nigeria which was kicked out of the Commonwealth became the host of a Commonwealth Head of Governments Meeting (CHOGOM). We became the darling of almost all nations. The economy started doing well. “I remember on one occasion one day or one week,

Court Refuses to Stop NFIU from Implementing Guidelines on LG Funds The Federal High Court in Abuja has refused to restrain the Nigerian Financial Intelligence Unit (NFIU) from implementing its recent guidelines on local government funds. The ruling by Justice John Tsoho marked yet another setback to the 36 governors in their efforts to keep control of local government finances in their respective states. In the guidelines that took effect on June 1, the NFIU directed banks not to honour transactions in the joint accounts of state and local government areas (LGAs). It said such accounts should only be used to distribute allocations to accounts of LGAs directly. The Nigerian Governors Forum (NGF) recently sued the NFIU, saying the directive was illegal because it contradicted the constitution. The constitution prescribed joint ownership of account between a state and all local government areas under it, but there have been claims that the governors have been

mismanaging the funds by bullying local authorities into silence. At the resumed hearing on the matter on Monday, Justice Tsoho declined to allow the governors continue to draw funds from local government accounts until the matter had been concluded by the court, which could take several months or even years. Further hearing on the matter could not continue yesterday, after the lead lawyer for the governors, Lateef Fagbemi (SAN), failed to appear in court on excuses that he was handling another matter at the Presidential Election Petitions Tribunal. Although there was an initial agreement by all parties to wait for Fagbemi, who had promised to appear in court before noon, the court eventually adjourned the matter when he did not show up. A further hearing was adjourned till October 23 for all applications, including one challenging the court’s jurisdiction, to be heard.

Chukwuma Soludo (then governor of the Central Bank of Nigeria) phoned me and said: ‘Sir, in one day, we had an inflow of $80 million’ - from foreign direct flow; not money from our oil export or cocoa

export. Just direct! And he (Soludo) said to me: ‘Sir, this is almost unbelievable.’ “I said we were not where I want us to be yet. I want us to be $100 million per day. That means in five working

days, that will be half a billion dollars. If we are making half a billion dollars a week of five working days; in 52 weeks, it will be $26 billion. It is possible. I got debt relief. “I think there is a presum-

ption in our constitution that our system will bring out competent leaders devoid of extremism, religious or tribal bigotry - leaders who understand what it takes to

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VICTORY AT LAST…

L-R: Clerk of the Senate, Nelson Ayewwo; new President of the Senate, Senator Ahmed Lawan; and Clerk of the National Assembly, Sani Omolori, administering the oath of office to Lawan in Abuja...yesterday JULIUS ATOI

JAMB Sets 160 as Cut-off Mark for University Admission Yinka Kolawole in Osogbo The Joint Admissions and Matriculation Board (JAMB) yesterday approved 160 as minimum score for admission seekers into public universities in Nigeria. The decision was made during the 19th policy meeting on admissions to tertiary institutions in Nigeria at Bola Babalakin Auditorium, Gbongan, Osun State, yesterday The meeting, which had in attendance vice chancellors, rectors of polytechnics and provosts of colleges of education, also approved 140 as cut-off mark for private universities; 120 for public polytechnics; 110 for private polytechnics; and 100 and above for colleges of education. Speaking at the 19th policy meeting, the Registrar of JAMB, Prof. Ishaq Oloyede, disclosed

that plans had been concluded to begin open examination for students seeking admissions into tertiary institutions in Nigeria. According to the Oloyede the step, which was a new innovation for 2019 Unified Tertiary and Matriculation Examination (UTME), was part of efforts to further curb examination malpractice. He stressed that the board was determined to provide one million questions for each subject out of which 50 would be taken for the examination. The JAMB boss who noted that it has become a crime to collect password of candidates at CBT Centre, added that the innovation of remote network test would afford the body opportunity to monitor functioning computer without going to the universities. He expressed worry over the high number of students

that applied to study Medicine, disclosing that while 436,799 candidates applied for the course, only 35,923 vacancies were available. Also the Chairman, Governing Board of JAMB, Dr. Emmanuel Ndukwe, noted that the board was striving to provide a unique standard that would be acceptable by students and parents. He thanked the JAMB registrar for his commitment and sincerity, saying that his “transparency, accountability and dedication,” is legendary. However the Director of Tertiary Education, Federal Ministry of Education, Mr. Ojo Joel Samuel, who spoke on behalf of the permanent secretary of the ministry, enjoined the board to be sensitive, transparent and sincere in the consideration of students cut-off mark. According to him,

“accountability and transparency have made it possible for JAMB to directly and indirectly support other Institutions and agencies in the education sector”. He said it was gladdening that NECO had taken a cue with its unprecedented remittance of over a billion naira recently. He urged the board to go further by ensuring the prosecution of all culprits and suspects of nefarious and criminal activities in order to serve as a deterrent to others, and to also send a very strong and clear signal to those that have entrenched themselves in these acts of criminality. “It is disheartening that there are still many reports of unethical behaviours on our campuses, especially those relating to the abuse of trust and confidence reposed in staff of tertiary institutions”.

Police Arrest One as Ondo Monarch Escapes Abduction by Herdsmen James Sowole in Akure

The Ondo State Police Command yesterday arrested a Fulani herdsman, who was alleged to be among a team of kidnappers that attempted to kidnap the traditional of Osi town in the Akure North Local Government Area (LGA) of Ondo State, Oba David Olajide. The suspected kidnappers allegedly attacked and attempted to abduct the traditional ruler at the Akure Airport Road, Osi, the spot where a woman,

Mrs. Olawumi Adeleye and her stepson were abducted on Sunday by bandits who later demanded N10 million ransom . But the alleged attempt to abduct the Monarch was unsuccessful as Oba Olajide was said to have escaped from the scene. Narrating his experience, the monarch explained that Olawumi and her stepson were released yesterday by the kidnappers. According to the traditional ruler, after he took the kidnap victims to the police headquarters,

Akure, and was on his way back to the community, the kidnappers attacked him but he escaped. “After the release of the woman, I took her and her son to the police headquarters to hand them over to the police. So, on my coming back, the herdsmen blocked the road with their cows, the same way they kidnapped the woman. “As I got to the place, I slowed down my car and I saw them coming to attack me but I managed to escape, they hit and damaged my car

but through the grace of God I escaped.” Oba Olajide disclosed that one of the attackers was later arrested and handed over to the police, shortly after the failed kidnap attempt. The state Police Public Relations Officer PPPRO), Mr, Femi Joseph, confirmed that the suspect was in the police custody. “We have the suspect with us we are already making efforts to arrest the fleeing members of the gang and investigation has also commenced,” Joseph added.

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Tinubu Restates Significance of June 12 as Democracy Day Urges Nigerians to support Buhari’s second term Martins Ifijeh The National Leader of the All Progressives Congress (APC), Bola Tinubu, has appraised Nigeria’s democratic evolution, saying as important as it is, May 29 does not carry the weight of significance attached to June 12 in the country’s democracy This is even as he called on Nigerians to support the second term of President Muhammadu Buhari, saying the administration

was investing massively in the renewal and expansion of infrastructure and social intervention programmes aimed at uplifting the vast majority of Nigerians from dehumanising poverty, political instability and insecurity. In a special message he personally signed to mark June 12 as Nigeria’s new Democracy Day, the former Lagos State governor said the country’s commemoration of May 29 of

Air Peace Faults AIB’s Allegation of Failure to Report Hard Landing Incident Chinedu Eze Nigeria’s largest carrier, Air Peace, yesterday faulted the allegation by the Accident Investigation Bureau (AIB), that the airline had consistently failed to file Mandatory Occurrence Report (MOR), on incidents involving its aircraft. In a statement signed by the Air Peace’s Chief Operating Officer, Mrs. Toyin Olajide, the airline expressed doubt whether the statement issued by AIB was done in good faith, insisting that it was a misrepresentation of facts concerning the incident in question. “In the night of May 15, 2019, an Air Peace Boeing 737-300 with registration number 5N - BUK made a hard landing in Lagos on account of sudden change in weather at the point of touch down. “But AIB grossly misrepresented the facts when it alluded that the airline only reported the incident, after the Bureau’s team visited its corporate headquarters in Lagos on June 6, 2019, which was about three weeks after the incident occurred. “Contrary to the press statement issued by the AIB, Air Peace duly notified the Nigerian Civil Aviation Authority (NCAA) of the incident on May 16, 2019, before it followed up with a written communication and subsequently filed an MOR on May 17, 2019, with reference

number APL/QM/279/19. The said MOR filed by the airline was received and signed for by the NCAA on the same date. The airline complied with the statutory time-lime for the filing of MOR,” the airline said. The airline said it was still in shock over the deliberate misrepresentation of facts by the AIB, and questioned the motive behind the allegation. Air Peace wondered if AIB’s statement was “intended to scare the flying public against an airline that has consistently demonstrated zero tolerance for unsafe practices.” The airline also expressed surprise at AIB’s “dredging” up of the incident, which occurred on December 14, 2018, en route Akanu Ibiam International Airport, Enugu, when oxygen masks were automatically deployed as a result of change in cabin pressure, noting that matters related to masks dropping during flight is not peculiar to Air Peace, but common to airlines all over the world. “Air Peace questions if it is not an aberration for an Accident Investigation Bureau to do acts capable of not only misleading the flying public, but also deliberately creating unnecessary fear in their minds,” adding that it was smokescreen for AIB to allege that some other airlines did not report their incidents without naming those airlines.

National Peace Award Holds July 5 Adedayo Akinwale in Abuja The National President, Messengers of Peace, Dr. Suleiman Adejoh, has revealed that this year’s National Peace Award will hold on July 5, 2019, at Transcorp Hilton Hotel, Abuja. Adejoh, who is also the convener of the peace award, disclosed this yesterday at a press conference in Abuja, saying that the objective was to promote the culture of peace by organising peace related activities. He added that the objective was based on the belief that enduring peace, harmony and progress would lead to prosperous Nigeria. Adejoh said: “We also

believe that every Nigerian deserves quality free medical career at all levels. Education should be made compulsory to secondary school level and free of charge by our government, as this will help to remove the mind set of our youth from violence to peace. We believe that peace education should be introduced in all our school curricular. “In order to demilitarise the minds of our youths, there must be a conscious display of true democratic values by our political office holders. We believe that no community can progress in the absence of peace. Some communities are progressing while others are counting their losses due to violence.”

every year since the democratic restoration of 1999 was only a day of hand-over of power from the military regime to the elected civilian administration. “As important as it certainly is, May 29 does not carry the weight of significance that June 12 does in Nigeria’s democratic evolution. May 29 is at best an arbitrary date on which the military chose to hand over the reins of power to an elected civilian government in 1999,” he said. In the statement titled ‘June 12: The Truth that Sets Democracy Free in Our Land,’ the APC leader said observing May 29 as Democracy Day delinked the

country’s democratic experience since 1999 from the protracted and bitter struggle against military dictatorship from June 12, 1993, till the forced exit of the military in 1999. According to him, “without those who stoutly stood on June 12 and sacrificed life, limb, freedom, economic ruin, psychological devastation and more in the battle against tyranny, there would most certainly not have been any May 29, 1999, handover to commemorate.” He urged Nigerians not to take the democracy enjoyed today for granted or do anything to threaten its existence, explaining that it was not won on a peaceful

and comfortable platter of gold. Tinubu said: “The power of truth to set men free from the limiting chains of falsehood and superstitions is one of the most poignant spiritual verities that has proven to be valid across time and space over the last two millennia. “In the realm of politics, the most fundamental truth that man has discovered is that power can be the hand-maiden of progress and accelerated development only if it flows from the will of the electorate as determined in regular, free, fair and credible elections. “This is why, in spite of its many flaws and failings,

man is yet to invent a form of government superior to democracy – the famed government of the people, by the people and for the people. It is thus understandable and indeed justified that Nigerians are elated that the country has recorded 20 years of unbroken democratic rule since 1999.” While thanking President Buhari and the National Assembly for assenting to the Bill on June 12, he said the country was for the first-time celebrating democracy as a nation on a historic day, which he said coincides with the day the seed of today’s democratic sprouting was sown 26 years ago.

UNIVERSITY ADMISSION ON THEIR MINDS…

L-R: Osun State Deputy Governor, Chief Benedict Alabi; Director General, National Youth Service Corps, Brig. Gen. Shuaibu Ibrahim; and Registrar, Joint Admissions and Matriculation Board (JAMB), Prof. Ishaq Oloyede, at the 2019 policy meeting on admission into tertiary institutions organised by the JAMB Board at Bola Babalakin Auditorium in Gbongan, Osun State ...yesterday

Waltersmith’s Modular Refinery Begins Operation Q2 2020, Says Wabote Peter Uzoho The 5,000 barrels per day modular refinery being developed by Waltersmith Refining & Petrochemical Company Limited, with equity investment from the Nigerian Content Development and Monitoring Board (NCDMB), would be completed in May 2020. The Executive Secretary of NCDMB, Mr. Simbi Kesiye Wabote, disclosed this on Monday during the board’s inspection visit to the project site at Ibigwe, Imo State, in company of the Chairman of

Waltersmith, Mr. Abdulrasaq Isah and the Executive ViceChairman, Mr. Danjuma Sale. According to Wabote, “the progress completion of the project stands at 65 percent, seven percent ahead of the original schedule. The engineering and procurement components had also been completed, with construction at 60 percent”. Giving his assessment after taking a tour of the site, Wabote described the project as investment channelled in the right direction and hailed the contractors, Lambert Electromac and Zerock, for their

remarkable pace of execution, dedication and expertise. He noted that they continued with the project despite the onset of the rainy season. The NCDMB boss also expressed delight with the high number of Nigerians working on various aspects of the project, stating that it underscored President Mohammed Buhari’s commitment to create employment for young Nigerians from the activities of the oil and gas industry. “I hope similar projects would come on stream pretty soon to generate employment

for Nigerians,” he said. In line with the succession plan requirements of the Nigerian Content Act, Wabote charged the contractors to train and absorb more Nigerians in senior management positions and make them permanent members of their companies, even after the project phase. He also noted that the Ibigwe modular refinery was the first of such projects to be undertaken by the NCDMB and Watersmith, and hinted that the board had sanctioned another modular refinery project to be developed at Calabar, Cross River State.

Democracy Not Yet Working in Nigeria, Says CDD Udora Orizu in Abuja The Centre for Democracy and Development (CDD) has expressed concern that the present democratic situation in Nigeria is yet to deliver dividends for Nigerians. The CDD Coordinator, Mrs. Idayat Hassan, who stated this in Abuja while briefing journalists at a stakeholders’ meeting on

the 20 years of democracy in Nigeria, said because the practice is not yet working, foreign direct investment is not encouraged. According to her, “We are not there yet. The twenty years of democracy have given us the opportunity to take stock as well as to realise if we are able to survive next 20 years of democracy. “It’s enough time for citizen

to step in and fight in order to define the kind of democracy they want and the system that would deliver development.” The group, however, set agenda for the President Muhammadu Buhari government, saying it is expedient that security and economy are tackled in order to make Nigeria environment friendly for investors.

She stated further that “the economy, security and corruption are issues that should be addressed. “You have to encourage Foreign Direct Investment (FDI), create investment-friendly environment for investors as well as developing the agriculture sector which can be said to be an achievement of this administration.”

WEDNESDAY JUNE 12, 2019 ˾ T H I S D AY

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NEWSEXTRA

Finally, INEC Issues Certificate of Return to Okorocha Chuks Okocha in Abuja At last, the Independent National Electoral Commission (INEC) yesterday issued a Certificate of Return to the former Governor of Imo State, Rochas Okorocha, as senator-elect representing Imo West senatorial district. This is coming as Justice Ngozi Okoha of High Court of Imo State sitting in Owerri, yesterday ordered the electoral commission not to issue certificate of return to the former Imo State governor. Acknowledging the receipt the certificate, Okorocha while speaking with journalists at the INEC headquarters in Abuja shortly after receiving the certificate, said he was called upon at exactly 6.14 p.m. that his certificate was ready. “At exactly 6.14 p.m., thus evening, after the inauguration of the assembly, I was invited that my certificate is ready and I have just come to collect it. “I take it to be God’s time. I have always believed that justice delayed is justice denied, but for the sake of our nation, I

accepted it.” He also commended the judiciary for doing the needful and for being there at the needed time as well as serving as the last resort for the common citizens or anybody that felt oppressed. “I also want to thank INEC for taking this bold step against all odds by issuing my certificate of return, which go along way to confirm that the allegation of duress is not founded by a delay tactic by my detractors to have slow down the process. “I believe this is God’s time and I take it as God’s time. I am happy that finally the matter is resolved. Okorocha said he harboured no grudge about not being able to participate in the inauguration ceremony for the ninth assembly and the voting process that produced the leadership of the ninth Senate, adding that he would have loved to be in attendance at the inauguration. “Now that I have the certificate, I have opportunity to join my colleagues to see how to move Nigeria forward. While

reaffirming his membership of All Progressives Congress (APC ), Okorocha stated that there was nothing wrong with the party but its management. “I will not stop be an APC member because of somebody. I came into APC alone and I am in the party. I believe in the party. It will be good to say that time will tell,” he said The former governor said that

he was coming to the senate to help rebuild the political bridges and the rest of the country. “I am also decided to see the possibility of free education at all levels in Nigeria, so that ordinary people, the poor can have access to education,” he added INEC had denied Okorocha his certificate of return following an allegation that the Returning Officer of the commission

declared him winner of the election under duress. The Federal High Court in Abuja , however on Friday ordered INEC to issue him a Certificate of Return. In another judgement, a High Court of Imo State, presided over by Justice Njemanze, had directed the commission not to issue a Certificate of Return to any of the senatorial candidates that

contested the election. The order from the High Court of Imo State was issued on May 23, 2019 and the suit has been further adjourned to June 26, 2019. INEC had promised to meet yesterday to take a decision on the matter and other court orders on the issuance of the Certificate of Return to Okorocha and other candidates with court cases.

Cross River, Sokoto, Kwara Assemblies Elect Speakers DBassey Inyang in Calabar, Onuminya Innocent in Sokoto, and Hammed Shittu in Ilorin Cross River, Sokoto and Kwara States Houses of Assembly have elected their Speakers to pilot the affairs of the newly constituted assemblies in the next four years. In Cross River State, the member representing Yakurr II state constituency, Mr. Eteng Jonah Williams, was elected unopposed as the Speaker of the state assembly. The emergence of Williams as the Speaker of the 25-member ninth assembly followed his nomination by the member representing Ogoja state constituency, Peter Odey. The member representing Calabar South II was also returned unopposed as the Deputy Speaker, a development that saw him retaining the position he held in the eighth assembly, after he was nominated by the representative of Boki II state constituency, Mr. Hilary Bisong. Both lawmakers, who have been members of the state House of Assembly since 2011, were sworn in respectively and were declared by the clerk of the assembly, Elder Bassey Ekpenyong, at the inauguration of the ninth assembly yesterday. In his post-inauguration address, Williams said he was humbled for being elected Speaker of the assembly, describing the gesture as an affirmation of the confidence reposed in him by his colleagues and the people of the state. The speaker thanked the state Governor, Professor Ben Ayade, for the support he has given him in the last four years, and urged the people of the state to support the governor in order to complete the numerous projects embarked on by the state government. In his message to the lawmakers, the state Governor, Ayade, urged them to maintain

cordial relationship with other arms of the state government. The governor congratulated them for emerging victorious as the representatives of their constituencies at the 2019 general elections. Meanwhile, in Sokoto State, lawmaker representing Wurno state constituency, Hon. Aminu Manya Achida, of the All Progressives Congress (APC) was yesterday elected Speaker of the state assembly. Achida was nominated by Ibrahim Arzika Sarki (PDP) Sokoto North II and was seconded by Hon. Faruk Mustapha Balle of Gudu state constituency. Achida defeated APCnominated candidate, Abdullahi Garba Sidi of Gada South constituency with 16 votes against 14. However, Abubakar Magaji of Bodinga state constituency (PDP) was elected as the Deputy Speaker of the assembly. In Kwara State, a 34-year-old member of the state assembly representing Ilesha-Gwanara state constituency, Hon. Yakubu Saliu Danladi, yesterday emerged the new Speaker of the assembly. Hon. Rapheal Adetiba, however, emerged Deputy Speaker of the assembly while Hon. Olawoyin Mogaji from Ilorin West Local Government Area emerged Leader of the assembly and Hon. Yusuf Ali Jimoh as the Chief Whip from Ilorin East Local Government Area. However, the new Speaker was nominated by only ranking lawmaker and contestant, Hon Saheed Popoola, member representing Balogun-Ojomu state constituency and seconded by Hon. Haliru Danbaba. In his acceptance speech after he was sworn in as the Speaker, Danladi promised to utilise the opportunity reposed on them by the people of the state to rewrite its history.

PROTECTING THE ENVIRONMENT…

L-R: Human Resources Director, Fan Milk, Mr. Olumide Adediji; Head, Wetlands and Biodiversity, Lagos State Ministry of Environment, Mrs. Titilayo Raji; Managing Director, Fan Milk, Mr. Herve Barrere; Permanent Secretary, Lagos State Ministry of Environment, Mr. Abiodun Bamgboye; and Head, Tree Planting & Maintenance Unit, LASPARK, Mrs. Funmilayo Dawodu, during the launch of One Planet One Health ABIODUN AJALA and tree planting ceremony organised by Fan Milk in commemoration of World Environment Day...recently

Court Orders Kogi Govt to Pay Judiciary N1.5bn Yekini Jimoh in Lokoja The National Industrial Court has ordered the Kogi State Government to pay the sum of N1.529billion to the judiciary being the outstanding money due to it from July 2018 to March 2019. The state government was also given 30 days within which to make the payment. This was a major victory recorded by the state chapter of the Judiciary Staff Union of Nigeria (JUSUN) against the state government over the failure of the government to pay its members their salaries and allowances since July 2018. In a landmark judgment delivered by Justice E.N.N. Agbakoba of the National Industrial Court in Abuja, the court held that the deliberate

non-payment of salaries to the state judiciary workers in the circumstances stated in the case “amounts to inhuman or degrading treatment.” The defendants in the case are the state governor, the state Attorney-General, the state Commissioner for Finance, Accountant-General, Auditor-General, Chief Judge of the state, Grand Kadi of the Sharia Court of Appeal, president of the Customary Court of Appeal and Judicial Service Commission (JSC). The case was instituted by way of originating summons on March 21, 2019, in which seven questions were proposed for determination, prominent among which was whether or not the first to fifth defendants have the power to withhold the monthly salaries of the members of the

claimant, by withholding the amounts standing to the credit of the sixth to ninth defendants in the Consolidated Revenue Fund of the state and payable to the Heads of Courts under section 121 (3) of the Constitution of the Federal Republic of Nigeria (as amended). It also sought 11 reliefs from the court. Upon reviewing the relevant provisions of the constitution relating to the doctrine of separation of powers among the three arms of government, the powers and roles of the Auditor-General of a state, Heads of Courts and the National Judicial Council (NJC), Justice Agbakoba, relying on some judicial authorities, held that the doctrine of separation of powers means that the legislature, executive and judiciary are independent arms

of the government with their respective functions subject to checks and balances. According to the judge, each arm must not encroach on the functions of others as any such invasion must be regarded as unconstitutional. It was part of the findings of the court that the Nigerian judiciary is constitutionally guaranteed to be financially independent from the executive arm of government, he added. On the whole, Justice Agbakoba ordered the first to fifth defendants to pay forthwith, the arrears of salaries, allowances and emoluments of the members of the claimant standing to the credit of the Kogi State judiciary in the Consolidated Revenue Fund of Kogi State to the Heads of Courts since July 2018.

Aisha Buhari Empowers 2,000 Adamawa Youths, Women Daji Sani in Yola Two thousand youths and women in Adamawa State have been empowered with various vocational skills by the wife of the President, Hajiya Aisha Buhari. This is even as the president’s wife inaugurated the Maternity Complex at the Federal Medical Centre Yola, the state capital, and also launched her pet project, the Green School Initiative at the Aliyu Musdafa College, also in Yola. She explained that the Aisha Buhari Foundation collaborated with the National Directorate

of Employment (NDE) to train and empower the 2000 women and youths in the state. Buhari said the pet project was in line with the federal government’s efforts in improving the security challenges and unemployment bedeviling the nation. According to her, the idea of launching the Green School Initiative was to encourage young people to practice agriculture. She added that maternity and mortality rate was on the high side and that something has to be done to curtail rate, noting that that was what informed the

idea of building the maternity complex so that lives will be saved. Buhari was accompanied to the inauguration ceremony by the first Ladies of Ghana, Chad, Niger, Gambia and Coteviour. The state Governor, Ahmadu Umaru Fintiri, however, expressed appreciation to the president’s wife for her kind gesture, saying that would go a long way in alleviating the hardship and sufferings of the people of the state. Earlier, the Director-General of NDE, Dr. Nasir Mohammed Ladan, described the first lady’s pet project tagged: ‘Future

Assured Initiative’, as a youth developmental programme meant to improve economic growth and national security. “The youth development is central to economic growth and national security. This is to achieve sustainable growth; the talent, creativity and entrepreneurial vigor of our youths are highly required because entrepreneurship has been identified as a viable option and strategy to address poverty and unemployment,” Ladan said. He further said that Buhari’s pet project has given hope to the people of the state.

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Presidential Panel Refers Senator Nwaoboshi to FG’s Prosecutor for Trial Davidson Iriekpen The Special Presidential Investigation Panel (SPIP) for recovery of public property has transferred to the Director of Public Prosecutions of the Federation (DPPF) the prosecution of the case of alleged failure to declare assets brought against Senator Peter Nwaoboshi (Delta North), by the panel. In a letter accompanying the case file, dated June 7, 2019, the SPIP said it forwarded the case to the DPPF for further

handling in furtherance of the inter-agency and collaborative efforts of federal government’s agencies involved in the anticorruption war. The letter signed by Dr. Celcius Ukpong, reads: “I am directed to forward to you above-named case file for further action. “The above suspect is under investigation before us for possession of suspicious assets far and beyond his legitimate earnings. “He has refused to declare

his assets before the panel after lawful demand by the special presidential investigation panel. “This refusal is contrary to

and punishable under section 3(i)(a) of the Recovery of Public Property (Special Provisions) Act 2004

“It shall be appreciated if a charge is brought against him for this offence pending the conclusion of the investigation.

“We hereby attach a draft charge against him, for your perusal and further action, please.”

Akingbola’s Money Laundering Trial Resumes June 13 Davidson Iriekpen A Federal High Court in Lagos yesterday adjourned until June 13, the money laundering trial of a former Managing Director of the defunct Intercontinental Bank Plc., Erastus Akingbola. Akingbola was charged by the Economic and Financial Crimes Commission (EFCC) on an amended 22 counts bordering on money laundering. He was re-arraigned in March and pleaded not guilty to the charge. The case, which was slated for continuation of trial yesterday, could not proceed as the judge was said to be on another official assignment. The EFCC accused the defendant of converting an aggregate sum of $1.3 million and $8.5 million taken from the bank’s GBP NOSTRO account at Deutsche Bank in London.

The sums were said to have been remitted into the account of Fuglers Solicitors with the Royal Bank of Scotland in London, to purchase property in the name of Life Boat Settlement Trust allegedly set up by the defendant. According to the prosecution, the defendant knew that the sums represented proceeds of crime. The alleged offences contravene the provisions of Sections 105(1) and 105(a) of the Investment and Securities Act, 2007. They also contravene the provisions of Sections 13 (1), 15(1)(a), and 28(3) of the Banks and Other Financial Institutions Act, Cap B3, Laws of the Federation, 2004. One of the offences also contravenes the provisions of Sections 14(1) of the Money Laundering Prohibition Act, 2004.

NAPTIP, NYPF Caution Young Nigerians against Visa Lotteries Udora Orizu in Abuja The National Agency for Prohibition of Trafficking in Persons (NAPTIP) and the Nigerian Young Professionals Forum (NYPF) have advised young Nigerians to desist from investing in visa lotteries. The Director-General of anti-trafficking agency and the founder of NYPF, Mrs. Dame Julie Okah-Donli and Moses Siloko Siasia respectively, in separate submissions during a one-day international conference on illegal migration and trafficking in persons’ conference in Abuja, described visa lotteries being advertised by some people as scams. Okah-Donli, who was represented by the Director of (Intelligence) Public Enlightenment of the agency, Mr. Orakwue Arinze, attributed patronage of visa lotteries and indulgence of irregular migration to inadequate funding of the education sector in the country. According to her, “I want state governors to invest more in education. Any child who is out of the umbrella of educational protection can be picked up by anybody. There is no visa lottery anywhere; it is a scam. Nigerians should stop investing in it. “Please run away from visa lottery, there is nothing of such.

America visa lottery stopped a long time ago; there is no Canadian visa lottery, it does not exist. To arrest anyone is not our priority response, but to educate Nigerians that those things are scams.” She admonished those craving to go abroad by all means not to patronise visa lottery advertorials, avoid scams as well as issues associated with such. On his own part, Siloko stated that Nigerian youths should seek more knowledge and involve in professions and jobs that can better their lives rather than wasting their time on frivolous engagements. Also speaking at the conference, the European Union Deputy Head of Delegation to Nigeria, Mr. Richard Young, revealed that about 2,084, representing 10 per cent of the 20, 532 victims of trafficked persons to Europe between 2015 and 2016 are Nigerians. Young urged the Nigerian Government to be tough on human traffic crime and causes of trafficking in the country. According to him, “Illegal migration and trafficking remained a major threat that requires a consensus effort to address.” He said the scourge required an honest, comprehensive and integrated approach to address.

APC CHIEFTAINS...

Yobe State Governor, Mai Mala Buni (left), in a warm handshake with the National Chairman of All Progressives Congress (APC), Mr. Adams Oshiomhole, before the strategic meeting between APC governors and National Assembly members in Abuja... recently

MNJTF Raises the Alarm on ISWAP’s Recruitment Plans Army rescues two women, six children in Borno Kingsley Nwezeh in Abuja The Multinational Joint Task Force (MNJTF) has said it has uncovered plans by Islamic State of West Africa Province (ISWAP) to launch recruitment drive in the coming months through misinformation embedded with radicalisation programmes. This is coming as the Nigerian Army said it rescued two women and six children after it ambushed insurgents in Gwadala Village in North-eastern part of Borno State ISWAP in 2016 had pledged allegiance to the Boko Haram terrorist group. The MNJTF urged traditional, religious, community leaders and parents to closely monitor their wards to prevent them from being recruited by the terrorist organisation.

According to a statement issued yesterday by the MNJTF’s spokesman, Col. Timothy Antigh, ISWAP is resorting to misinformation and propaganda to retain its sponsors, supporters and also impress potential recruits. Antigha explained that ISWAP resorted to propaganda following its operational losses in the last couple of weeks. He further explained that the terrorists in series of falsehoods contained in Issue 185 of its NAL – NABA Magazine of June 7, claimed to have attacked locations in Nigeria and Niger Republic. “These claims are misleading, untrue and should therefore be disregarded by the public. “The reality is that in an effort to shore up its waning influence in the Lake Chad area, ISWAP

instigated some skirmishes, which were all neutralised at heavy personnel and equipment costs. “This can in no way justify the falsehoods contained in the ISWAP propaganda publication. “In the light of the forgoing, it is important and urgent to warn the public that part of a recently discovered ISWAP deception plan is to continue on its current misinformation with the embedded radicalisation programme, as a prelude to launching a recruitment drive in the months to come. “The ultimate aim is to find replacement among the population for the hundreds of terrorists killed by the MNJTF and national forces in the ongoing Operation Yancin Tafki,’’ Antigha said. Meanwhile, Nigerian Army

said troops of 121 Battalion in an ambush operation against fleeing members of Boko Haram terrorist group, rescued two women and children were rescued in an ambush operation. An Army statement said one terrorist was killed during the operation while one AK 47 rifle, one dane gun and one locally fabricated ammunition and projectile were recovered. It said the projections for ambushes, clearance operations and fighting patrols were part of the efforts embarked upon by troops of 7 Division Nigerian Army to consolidate on the gains and successes recorded so far in the ongoing operation “Halaka Dodo” to ensure the remnants of the BHTs are exterminated with the aim of having a lasting peace and security in the North-east.

Foundation to Award Nigerian Start-up Wecyclers in Brussels Martins Ifijeh The 2019 winner of the African Development Prize, Wecyclers, a Lagos-based waste management start-up, will be presented with the biennial prize award by the King Baudouin Foundation at a ceremony in the presence of King Philippe and Queen Mathilde of Belgium at the Royal Palace in Brussels. The ceremony will also be attended by high-ranking guests including Nigerian philanthropist, businessman and Chairman of the United Bank for Africa (UBA), Mr.

Tony Elumelu. According to the Media Executive, King Baudouin Foundation, Esther Oluga, Wecyclers was recognised for its innovative and inclusive approach to tackling waste management in Nigeria, using technology to empower lowincome communities to capture value from their waste. She said: “Wecyclers are working on turning the waste management challenge into an economic opportunity for communities. Recently, they announced collaboration with Lagos-based environmental

organisation ‘African Clean Up Initiative’, which will allow parents to pay for tuition fees through recycling. “Wecyclers already benefits from the engagement of more than 17,000 subscribers in seven localities in Lagos. They have also created 200 jobs in seven years, with a focus on women, who currently account for 60 per cent of its workforce.” The foundation said with current growth projections, Wecyclers aims to collect 5,000 tons of recyclables by 2020 and could be serving 500,000 households by 2023.

The prize according to the foundation includes financial support of €200,000 and exposure to a network of international partners, which will allow Wecyclers to upscale their model and increase their footprint, with plans to expand in Lagos, other Nigerian cities and neighbouring countries. “During the ceremony there will be speeches delivered by Wecyclers CEO, Mr. Olawale Adebiyi, and Founder and MIT alumni, Mrs Bilikiss AdebiyiAbiola; and a panel discussion that will be led by philanthropist, Tony Elumelu,” Oluga said.

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Agbakoba: Abiola Wrote His Name in the Book of Mortals He is a living legend, says Kalu Martins Ifijeh As Nigeria marks Democracy Day today, a Senior Advocate of Nigeria (SAN), Mr. Olisa Agbakoba has eulogised late Chief MKO Abiola, saying he has written his name in the book of mortals for losing his own life to regain June 12. This is coming as a former Abia State Governor and Senator for Abia North senatorial district, Chief. Orji Kalu, has also described the winner of the June 1993 presidential election as a living legend and called on the political class to adhere to the tenets of democracy for

the sake of nation-building. In a statement made available to THISDAY yesterday, Agbakoba said as he reflects on June 12 and its importance in history, he is comforted that Abiola emblazoned his name in the book of eternity, and that the labour of the country’s heroes past will never be in vain. He said: “As our dear nation marks its 20th year of uninterrupted democratic rule, I am reminded of the sacrifices and courage of the men and women who are indeed the true heroes of our democracy. A fond memory that comes to mind is that of Abiola at

his Ikeja residence soon after the annulment of the June 12 elections. “I and a host of other leaders of civil society conferred with him on the next steps to take. At this point, in the face of oppression and what seemed the last straw that would break our back in the fight for democracy in Nigeria; we took a stand. We resolved that we would never rest until we restored justice and the rule of law in our dear nation Nigeria,” he stated. Meanwhile, a former Abia State governor, Kalu, has called on the political class to adhere to the tenets of democracy for

OBASANJO CONDEMNS IMBALANCE IN NIGERIA’S GOVERNANCE STRUCTURE hold the country together and put it in high gear for development, unity and an inclusive and shared society. “These are assumptions. And if these assumptions come true, what is meant to be achieved in our country will be achieved. But the kind of situation you have now cannot allow those assumptions to become reality. Now you have a situation where three top officials of

government will be from only two northern zones. Ahmed Lawan (who has been pencilled down as Senate President) is from the North-east; the acting chief justice of Nigeria is from the North-east; the president of the country is from the North-west. They are all from what we call the core north. How can you have that kind of arrangement and then be absolutely insensitive to it (lack

of geographical diversity)? “So, the prescription that our constitution makes of the kind of leadership that should emerge, we have failed to achieve that with the present leadership we have in place. The constitution expects the executive to care for the welfare and security of every Nigerian. But in the present situation, they don’t seem to care.”

However, the dream of such a state of collective desire is not realized by careers of deception and distortion of reality and history, any more than is the craving for a turn at the very pinnacle of governance within a polity which, for good or ill, still embraces all. On the contrary, both dreams fade, continue to recede, and may eventually remain unfulfilled in the lifetime of the purveyors of divisive filth. That would be poetic justice. I am no believer in the juggling of score cards in order to earn the accolade of equitable dealing – find fault on ‘A’ by all means, but be sure to balance with faults from ‘B’, deserved or not. However, the following retrogressive slump in the democratic quest is fortunately, and blatantly, in the public domain and demands its place in the Index of repudiations. First, it was a minister, soon followed by the deputy of the incumbent himself, then other voices at various times – all advocating support for the government on the basis of ensuring “our turn” at the next electoral roulette! That primitive appeal remains one of the most dispiriting of the twists and turns in numerous calculations of that same 2019 electoral exercise, a dismal complement of the self-positioning of the earlier mentioned secession fundamentalists. If anything, the latter now had even greater justification to jettison all other parameters of political choice in favour of their own even more uncompromising, ethnic positioning. I am Yoruba, and therefore felt sufficiently compromised as to intervene with some leaders demanding, ‘do you know what this portends?’ Is this wise? Progressive? It was gratifying to encounter other Yoruba voices – I

especially recall one from Dr. Wale Adeniran – in forceful repudiation of such narrow chauvinism. And it resulted in personal disillusionment that sent me seeking solace from our man for all occasions, William Shakespeare in that cry of: A Plague on both your Houses! There were other negative controlling manifestations, related to that very narrow social perspective, albeit sprung from a different malaise. The principal himself, formerly elected largely on the platform of corruption eradication, reinforced by the coy mantra of “I belong to all and belong to none”, presided over a growing degradation of advertised intent, a serial dereliction of the obvious imperative of any reformist agenda which should read: first, internal cleansing! One after another, scandals of escalating proportions from within the charmed circle of power, an apparent tolerance even in face of ‘in flagrante delecti’ captures on video! Clearly, this candidate had also done his arithmetic and could hardly afford to lose any treasure trove of numbers. The logo of the ruling party during those 2019 elections appeared to have been the three brass monkeys: Hear no evil, See no evil. Speak no evil. Before any chortling of selfvindication is provoked among the ‘I told you so brigade’, let me quickly pause here, prodded by the strident opportunism of the corruption train and restate my position as follows: this does not invalidate the pass mark in this specific department that I conceded the government on a television programme – the anti-corruption fight. A pass mark is not the same as an A+, B or even C+, so that grudging grade stands, as shall be effortlessly demonstrated in

ensuing parts of this primer. Some of us take a holistic, and comparative approach to the protean operations of corruption, not sensationalist ‘Rambo’ melodramas served up to titillate the public palate. We add, subtract, qualify, adjust, and only then – propose a grade. We shall venture later into that national bugbear, and in some detail, utilizing just one or two but representative voices of blanket dismissal that often read like commissioned pieces. We know what is at stake. Even as this is being written, guardian ‘sleepers’ of the Abacha and other hidden loot are being rumbled. They await moments of slackening in vigilance to pounce on temporarily ‘abandoned properties’ known only to them. Only this week, yet another sumptuous cache was unearthed in the Jersey islands. And there are many more awaiting exposure. No, we cannot afford to lower the nation’s guard, nor belittle the institutions that work towards eventual, across-the-board sanitation of society. To sum up the contribution of the incumbent candidate and his handlers to the last electoral architecture, it was indeed numerology that triumphed over ethical rigour. We insist however that even political pragmatism has its own moral demands. Any other position leaves wide open the sluices of cynicism, pent-up frustrations, disillusionment, reducing democracy to the numerical count as the sole electoral victor. Will the projected June 11 Summit on Corruption compel the government itself to tackle its own record in this respect? I have received an invitation but will not be attending. I however recommend deep introspective attention to the

the sake of nation-building. “Nigeria’s democracy is gradually improving; the people’s will must be upheld in elections for the sustenance of democracy”. Kalu, in a statement issued by his media office yesterday, in commemoration of Democracy Day, acknowledged the importance of democracy to a nation, urging government at all levels to live up to expectations.

He applauded the efforts of the President Muhammadu Buhari-led administration in taking Nigeria to greater heights. Kalu said: “I commend President Muhammadu Buhari for declaring June 12 as Nigeria’s Democracy Day as a mark of honour to the acclaimed winner of the annulled June 12, 1993 presidential election, Chief Moshood Abiola.

“The decision of President Buhari to immortalise Abiola was well received with commendations from different quarters. It is indeed remarkable and historic. “Nigeria’s founding fathers, including Sir Ahmadu Bello; Sir Tafawa Balewa; Dr. Nnamdi Azikiwe; Chief Obafemi Awolowo; Chief Ladoke Akintola; and others, laid a good foundation for Nigeria’s democracy.

Enugu First Lady Tasks Women on Humility, Love, Unity The wife of the Enugu State Governor, Mrs. Monica Ugwuanyi, has stressed the need for love and unity among women, irrespective of class or political status of their husbands in the society. The Enugu First Lady who maintained that all human beings are equal before God, noted that those in authority are there by God’s providence and should reciprocate such benevolence by regarding everyone as equals. Speaking during the monthly prayer rally of the women of Enugu State, Mrs. Ugwuanyi enjoined them to remain prayerful, humble and

supportive to their husbands as well as relate positively with others to enhance peace, love and unity in the society. According to her, “no condition is permanent; therefore, we should all regard everyone of us as equals. Forget about that I am here as wife of the governor, I relate well with my workers, we chat, play and do everything in common. Humility is a noble virtue that should be imbibed by all women”. She also advised women whose husbands occupy political positions not to be influenced by such exalted offices but be committed to virtues that

would assist them succeed in their responsibilities. “Let me remind us that any position given to our husbands demands our fervent prayers. Immediately your husband assumes any political position even if it is the lowest, it is required of you as the wife to be covering him in prayers so that no danger will come near him”, the governor’s wife said. Mrs. Ugwuanyi who disclosed that this year’s August meeting will be flagged off on July 9, expressed delight with the commitment of women of the state to the monthly prayer session, saying: “I am sincerely grateful to you all”.

constitutes, as the democratic base of any human grouping, their rights and limitations, both of which are involved in the guarantee of a healthy societal survival. It must raise, pre-eminently, the very issue of the protocols of association – relation of the parts to one another, and the parts to the whole. Such protocols are of a fundamental, negotiable category for a basic reason – they deal with humanity, not abstractions or material resources. Above nations, we cannot help but place humanity, otherwise, we are mere idol worshippers - the idols of patriotic jingoism and pietistic abstractions (e.g. sovereign integrity and allied rhetoric). Democracy Day deserves truthful confrontation with the socio-political conditions that we have brought into being to plague ourselves and thus, compels our acceptance of responsibility for whatever, and wherever roles are traceable to one and all in that process. It is not wrong to make political calculations – not for nothing is it claimed that politics is a game of numbers – one of those partial truths, but let it stand for now. However, when those calculations go wrong, it is cowardly to seek scapegoats and fabricate non-existent histories. D-Day should not pass shrouded under sentiment. At the same time, it should not be celebrated with groundless recriminations. It calls on hard-core values, yet remains open to mature and logical adjustments, deploying the rigorous blade of truth to cut through overgrown, self-proliferating brambles of deception, especially at the hands of past rulers. If the present demons of nation being are confronted, with brutal frankness where necessary, there is a chance

that we may assist even this aspiring generation to sweep past the past, and target a far more salutary celebration in the coming year, that much touted magic number 20/20. Says the ‘good book’ but, I am certain, echoed in numerous scriptures of Faith - Render unto Caesar what is Caesars’s etc. etc. We have rendered unto D-Day its dues, its pietisms and imperious mandates, and in as measured accents as can be mustered by any pained member of a polity under a ‘state of siege’. All that is left is to tackle, through a few illustrative samples, the hooded mercenaries who remain committed to the triumph of every imaginable shade of the anti-democratic agenda. They operate like the chameleon, adaptable to colour and texture of their immediate and appropriated environments. Forget the parable of never serving more than one master – they serve several, all interchangeable as readily as their wearing apparel. To them we are the mummu, they the lordly predators of the political jungle. In the interest of historic truths and self-preservation, it becomes a duty to seize every opportunity – fortunately mostly of their own providing - to dissect their proclamations, subject them to public scrutiny and take the trouble to probe deeply into their hidden briefs. A hopeful Democracy Day to the electorate of June 12, 1993, and their political descendants, on whom the burden of the future unavoidably – falls. rThe full text of this contribution and its follow-up are scheduled for publication in mid-July in the INTERVENTIONS series by BookCraft, under the subseries, THE REPUBLIC OF LIARS.

A DEMOCRACY DAY PRIMER – I second item on the suggested themes – NEXUS BETWEEN ELECTORAL SPENDING AND PUBLIC CORRUPTION. And so, on looking back, our view encounters only the debris of a wobbly scaffolding of the 2019 democratic exercise that predictably crashed, a rickety podium of cynical improvisations on four temporal legs roughly identified as: (i) payback time (ii) our turn next time (iii) laissez-faire time, and (iv) the all-purpose ‘stomach infrastructure’ dinner bell. The unprecedented epidemic of the collapse of buildings all over the country has since struck me as a morbid analogy for the collapse of humane structures, burying so much hope of advance on 1993, a full quarter of a century later, in their rubble. One became quite fearful that the nation was trapped in the material actualization of an even more comprehensive advance on Shakespeare’s curse: A Plague on All your houses! If only nothing more than the current political houses took a final tumble! Alas, the collapse is far more extensive than such mere contraption. We need only look around, or revert to those alarms that we echoed at the beginning. One may squirm at the verbal formulation but, truthfully, NIGERIA MOURNS! And so, towards the exorcising of that curse, the prescription of a government across partisan interests is not misplaced, and is not entirely starry-eyed. A day dedicated to democracy – as a compelling morality of social existence - is merely frivolous unless directed at the recognition of the telling, prevailing features of the last exercise, which throw in question the free, hopefully educated exertion of human choice. It brings us back to numerous considerations of what

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Man Beats Wife to Death in Anambra One year-old boy stolen in Onitsha Catholic Church David-Chyddy Eleke in Awka A 41-year-old man, Mr. Sunday Ngwu, has allegedly beaten his wife to death in Anambra State over a marital issue in their family. This is coming as a year and half-old child, Chibueze Ezechukwu, was allegedly stolen by an unknown woman in a Catholic Church in Onitsha also in the state. Ngwu, who hails from Nkanu Local Government Area of Enugu State, was said to have engaged his wife in a fight after an undisclosed issue erupted in their family last Monday Night. A source, who spoke to THISDAY, said Ngwu and the wife, Amara, had been living peacefully in an apartment at

Ikwo Street, Ibollo in Idemili North Local Government Area, but that last Sunday, after a heated argument with his wife, both of them were engaged in a fight, which Ngwu gained a upper hand against his late wife. Meanwhile, the spokesperson of the state Police Command, SP Haruna Mohammed, has confirmed the incident, saying the matter has been transferred to Awka, the state capital, and the deceased body deposited in a morgue. He said: “On the June 6, 2019, at about 8p.m., police detectives attached to Awada Police Division arrested one Sunday Ngwu, 41, from Nkanu LGA of Enugu State but resides at Ikwo Street Ibollo in Idemili North LGA of Anambra State.

Akerele Family Announces Burial Arrangements The funeral service for late Pa Adesola Akerele, who died on March 19, 2019 will commence on Thursday June 13 with a wake- keeping service at his residence in Ayetoro Okeho, Oyo State. A funeral service in his honour holds on Friday, June 14 at Isale Igbagbo Baptist Church, Ayetoro-Oke, Okeho. The late Adesola Akerele was a retired military personnel. He is survived by his wife, children and grandchildren

children among whom are Mr. Akinade Akerele, a chartered Accountant; Dr. Victor Akerele, Senior Pastor of First Baptist Church, Festac Town, Lagos; Mr. John Akerele, an Abuja- based businessman and others.

Late Akerele

“The suspect allegedly beat his wife, Amara Ngwu, 39, of the same address to a pulp and then used a heavy metal object to hit her on the head leaving her unconscious. “The state Commissioner of Police, Mustapha, has ordered for the immediate transfer of the case to State Criminal

investigation Department in Awka to conduct a discreet investigation in order to ascertain circumstances surrounding the incident after which the suspect would be charged to court for prosecution.” Meanwhile, a toddler, Ezechukwu, has been allegedly stolen by an unknown woman

in a Catholic Church in Onitsha. THISDAY gathered that the child was stolen last Sunday at Ibah Pope Catholic Church, Awada Onitsha, during offertory. A source told our correspondent that the baby was being tended by a house help, but the child-thief, who was said to be a woman, deceived the

house help by giving her some money for offertory, and also opting to look after the baby for her to walk up to the alter and drop the money. Also, another missing girl has been found in Awka wandering the streets in her school uniform, and has been taken to the ‘B’ division police station in Awka.

June 12: Kogi Governorship Aspirant Preaches Love Oluch Chibuzor A frontline governorship aspirant in Kogi State, General Patrick Ademu Akpa (rtd) has congratulated the people of the state on Democracy Day with a call on the people to ignore negativities and strengthen the bond of love among themselves. In a statement signed by his assistant, Pastor John Desmond,

the aspirant thanked the people of the state for their resilience and their determination to restore the glory of the state despite all the odds experienced in the state for almost four years. According to the statement, “My dear people of Kogi State, I felicitate with you on the celebration of this year’s democracy day, and thank God for his mercies for being alive to

see this day despite all the odds in our dear state. “Let me use this opportunity to thank all Kogites who are praying for the restoration and redirection of our state, as I seek your fervent and sincere prayers across religious, political and ethnic divides to strengthen us to commit ourselves to the enormous task of building a greater Kogi State.

“I appeal to all Kogites to overcome all negativities, overlook our prejudices and strengthen the bonds of love, friendship, peace and unity for the common good of our dear state.” Akpa, also congratulated the local governments in the state for finally gaining the much desired but overdue financial autonomy as a true third tier of the government.

Oluremi Tinubu Felicitates with Nigerians The wife of the National Leader of the All Progressive Congress (APC), Senator Oluremi Tinubu has felicitated with Nigerians as the country today celebrates, for the first time, June 12 as new Democracy Day. In a statement made available to THISDAY yesterday, she said it took 26 years to witness the very first observance of June 12 as Nigeria’s Democracy

Day, noting that in 1993, Nigerians from all tribes and religion indicated their clear and resolute preference for democracy and all its ideals. The senator representing Lagos Central Senatorial District said: “I recognise and salute the man who personified everything lofty and laudable that June 12 now represents: Bashorun Moshood Kashimawo

Olawale Abiola of blessed memory. “I commend our beloved President Muhammadu Buhari, whose government finally deemed it fit to recognise June 12 as the date that truly deserves recognition as Nigeria’s rightful Democracy Day. “I honour the men and women who sacrificed their

freedom, resources, safety and properties in the struggle for the actualisation of the mandate of Abiola which was freely given on June 12, 1993 and thereafter for the recognition of June 12 as Nigeria’s Democracy Day,” she added. While stating that there were Nigerians who paid the ultimate price in the struggle, she prayed that their souls rest in peace.

CENTRAL BANK OF NIGERIA www.cbn.gov.ng

TENDER NOTICE CENTRAL BANK OF NIGERIA ON BEHALF OF DMO OFFERS NIGERIAN TREASURY BILLS Notice is hereby given by the Central Bank of Nigeria on behalf of DMO that the Federal Government of Nigeria Treasury Bills of 91, 182 and 364-day tenors amounting to N3,000,000,000; N4,000,000,000; and N10,614,105,000 respectively would be issued by Dutch auction on Thursday, June 20, 2019. All Money Market Dealers should submit bids through the CBN S4 WEB INTERFACE between 9.00 a.m. and 11.00 a.m. on Wednesday, June 19, 2019. Each bid must be in multiple of N1, 000 subject to a minimum of N50, 001, 000. Authorized Money Market Dealers can submit multiple bids. A bid may be for authorized Money Market Dealers own account, non – Money Market Dealers or interested members of the public. The result of the auction would be announced by 11.30 a.m. on Wednesday, June 19, 2019. The Bank reserves the right to reject any bid. Allotment letters would be issued for successful bids on Thursday, June 20, 2019, while payment for the successful bids should be made to your account with Central Bank of Nigeria not later than 11.00 a.m. on Thursday, June 20, 2019. The Bank reserves the right to vary the amount on offer in line with market realities prevailing as at the period of auction of the Nigerian Treasury Bills.

GOVERNMENT SECURITIES OFFICE CENTRAL BANK OF NIGERIA ABUJA ..

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WEDNESDAYSPORTS

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

F I FA W O M E N W ’ C U P

Super Falcons in Make or Bend Tie against Korea Femi Solaja

The Super Falcons will have their fate in their hands when they face Korea Republic in Grenoble in their second match at the FIFA Women’s World Cup.

The Group A fixture at the Stade des Alpes is the first time both teams will be meeting at this level. Expectedly the Nigerians will throw all their fire woods into the furnace, realising that

NPFL PLAYOFF

Title, Continental Tickets Down to the Last Game Fisayo Dairo It is the final MatchDay of the 2018/19 Nigeria Professional Football League (NPFL) Championship Playoff this Wednesday at the Agege Stadium and there are still all to play for five of the six clubs with the giant trophy and two continental slots up for grabs. The four previous match days of high intensity and top level competition have left seven-time league champions Enyimba as the only team to have sealed a continental place for next season while FC Ifeanyiubah are the only team mathematically out of the running having turned out the “whipping boys” with no points from four games. A total of thirty-six goals have been scored in twelve matches, an impressive average of three goals per game, but in spite of a low scoring Match Day 4 (by the lofty standards of this season’s playoffs), it does not look like the teams are tired of banging in the good, great goals. Enyimba overtook Kano Pillars at the summit of the log after an expected, but comprehensive 3-1 win over FC Ifeanyiubah on Monday night. All the People’s Elephant now need to seal a return to CAF Champions League football for the first time in four seasons is to avoid losing by not more than a

one-goal margin against Akwa United who desperately need a win. Enyimba’s nine points have guaranteed them a top three spot regardless of Wednesday’s result but Usman Abd’Allah’s men do have their sights on the trophy they last won in 2015. Akwa United who remain unbeaten in their first four games will however pose a capable threat to their aspirations. Akwa United head coach Rafael Everton is expected to recall former Enyimba star Mfon Udoh - who came on as substitute in their last two games - to the starting line up and the Brazilian acknowledges that it will be a difficult game on Wednesday. “We will continue to believe. We came here to work and we will continue to believe that we will win the league. It is (going to be) a difficult game, it is a derby but we’ve not lost in all the games we have played so we will start planning to win the last game,” Everton told www.npfl.ng. Kano Pillars are the only remaining unbeaten side in this Playoffs and they require just a point from their last game against calculatorwearied Lobi Stars to seal a return to the continent since 2015. Pillars were denied by a late minute penalty against Rangers on Monday which made them relinquish their top spot to Enyimba.

GOtv Boxing Night 19 Holds In Lagos The 19th edition of GOtv Boxing Night (GOtv Boxing Night 19) will hold at the Indoor Sports Hall of the National Stadium, Lagos, on Sunday, 14 July. This was announced by FlyKite Promotions, organisers of the event, at a press conference in Lagos on Tuesday. GOtv Boxing Night 19 will be headlined by the international welterweight challenge duel between Rilwan “Babyface” Babatunde of Nigeria and Daniel Lartey of Ghana. The event will also feature six domestic bouts potentially explosive bouts, one of which will see Tope “Berinja” Agboola face reigning African Boxing Union (ABU) lightweight champion, Oto “Joe Boy” Joseph in a national challenge duel. Also in action will be current West African Boxing Union (WABU) lightweight champion, Rilwan “Real One” Oladosu, who takes

on Hammed “Ese Hammed” Ganiyu. The event will equally see former ABU featherweight title champion, Waidi “Skoro” Usman, return to action when he faces Taiwo “Esepo” Agbaje in a national challenge contest. Another featherweight challenge clash will see Kazeem “The Light” Oliwo square up to Tope “TP Rock” Musa. In the light welterweight division, Akeem “Sugar Boy” Olaiwola will face Waheed “Showmax” Shogbamu, while Adeyemi “Spirit” Adekanla will take on Isaac “I Star” Chukwudi. The best boxer at the event will go home with a cash prize of N1million alongside the Mojisola Ogunsanya Memorial Trophy. GOtv Boxing Night 19 will be beamed live on Africa’s biggest sport channel, SuperSport, in 47 African countries.

a win of any margin will keep them in the tournament, while a defeat will make the last group match against host, France a mere formality. For the record, the Falcons have faced Asian oppositions five times in previous tournaments, notably the Korea Democratic Republic, the northern neighbours of Korea Republic. The statistics, however, indicate that the Falcons have a poor head-to-head record in matches with Asian oppositions, with four defeats and a 2-1 win against North Korea, 20 years ago in the US. That win was the first of the only three victories Nigeria has notched at the women’s tournament since inception in 1991.

But precisely at 3p.m. Nigerian time today, they will approach the bottom-of-the-table clash with a winning mentality and on a cautious note. Yes, caution will be watchword of Coach Thomas Dennerby’ s charges given that the duo of Desire Oparanoze and Francisca Ordega, are among the four players already on the disciplinary list. Any further caution will make them unavailable for the last group match against France on Sunday night in Rennes. Other listed players are Germany’s Lena Oberdorf and Spain’s Marta Corredera. Ahead of this match, THISDAY learnt from the team’s camp that Dennerby and the team medics have ruled veteran

defender Faith Michael out of the tournament. The Pitea IF of Sweden defender was injured in a clash with goalkeeper Tochukwu Oluehi during Saturday’s 3-0 loss to Norway and will take no further part in the championship, no matter how far the African champions get. The team again trained at the Stade Eugène Thenard on the Avenue du General de Charles Gaulle yesterday and apart from Michael, the remaining 22 players are rearing to go against the Far East Asians. In Michael’s absence, petite Chidinma Okeke, a former junior international who featured for Nigeria at the FIFA U20 Women’s World Cup also staged in France last year, will

start at right back. She was impressive against the Norwegians when she replaced Michael in the 53rd minute on Saturday. The central defensive pairing of veteran Onome Ebi and Osinachi Ohale will be maintained, as left back Ngozi Ebere. In the midfield, Dennerby will decide whether to once more go with the trio of Ngozi Okobi, Rita Chikwelu and Halimatu Ayinde, or rest the latter for Portugal –based Chinaza Uchendu. Oparanozie, Asisat Oshoala and Francisca Ordega will be saddled with the assignment of getting the goals that will keep Falcons’ hopes of remaining in France beyond 17th June.

The Future Eagles squad on arrival in Japan on Monday

BAYELSA FA ELECTION

Egbe Protests to NFF, Wants Election Cancelled A top aspirant in the Bayelsa State FA chairmanship position, Ebi Egbe has faulted the electoral process that led to the return of incumbent chairman, Barrister Porbeni Ogoun. Egbe in a protest addressed to Nigeria Football Federation President, Amaju Pinnick noted that the election was manipulated, even as fake delegates were allowed to vote.

Egbe who is the Chief Executive Officer of Monimichelle alleged that the state FA officials perfected strategies to hold on to power at all cost. He noted that he had before the election filed a protest which the State FA failed to address. “If I m beaten in a free and fair election in which there is a level playing field, I won’t

have any problem with that. But what happened today in Yenagoa was to say the least a sham. This is why I have taken my case to NFF. Bayelsa deserves the very best and nobody should deny the state the opportunity to throw up her best candidate,” Egbe said. Egbe stressed that the role allegedly played by Dr Peter Singabele was to say the least unacceptable.

“I expected Singabele as an elder statesman to be neutral in all of these, but he ended up ganging up with the FA officials to manipulate the electoral process. He (Singabele) was the architect of what happened today and he did what he did because he is scared that my emergence as FA chairman would diminish his influence in Bayelsa football,” Egbe said.

S’ Eagles Coordinator Becomes Bauchi FA Chairman Segun Awofadeji in Bauchi

Former Super Eagles player and coordinator of the senior national team, Mr Paschal Patrick has emerged as the new Bauchi FA Chairman having scored the highest number of 13 votes 13 to defeat two other candidates.

He is to pilot Bauchi football affairs for the next three years. Others elected include; Adamu Umar Madachi as Vice Chairman I, while Abass Usman Shehu, Abubakar Garbage and Kabiru Yusuf emerged as members. Speaking immediately

after the election, the new Chairman, Paschal Patrick said there was no winner in the election instead they will all work to serve football in the state. He promised to do everything possible to restructure the game of football in Bauchi State. He said he accepted

the challenge of piloting the affairs of football administration in the state and promised never to let the delegates down. The election which was conducted in a peaceful manner took place at the Abubakar Tafawa Balewa Stadium, Bauchi yesterday.

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MISSILE

Moghalu to Northern Elite “The North must be modern and the northern Nigeria will not make progress until Nigeria is constitutionally re-structured. Nigeria cannot develop on feeding bottle federalism. What Nigeria needs at this point remains true federalism that will encourage fiscal independence of the regions” – The presidential candidate of Young Progressive Party (YPP), Prof. Kingsley Moghalu, accusing the northern elite and politicians of encouraging poverty among the masses for selfish and political reasons.

WOLESOYINKA GUEST COLUMNIST

A Democracy Day Primer – I T

his year’s recall of an uplifting day in the year 1993 comes up against a background of its most shameful disavowal: the 2019 elections – still under judicial contestation – an event that would be more accurately described as an exercise in body count rather than ballot count. The elections however merely reflected a pattern of savagery and abandonment of human sensibilities that have eaten away the sheerest sense of community in the nation. I have already described it as the final descent into the abyss of human degradation. The recent call – no matter how suspect the motivation -- for what amounts to a national discourse on future directions was nothing new. The NIGERIA MOURNS movement, for instance, is only another expression of the same desperation. Input from someone who has exercised control over the nation’s affairs for a total of close to a dozen years, with shared responsibility for the very predicament in which the nation finds itself, reinforces the general anxieties that have become palpable in every corner of the nation -- across class, political partisanship, religion and ethnicity. I wish to take the notion of a national ‘indaba’ even further, and urge a non-partisan, broad-based government. The now undeniable social crisis is beyond the capacity of any government built on accustomed partisan loyalties and regimented thought processes, with their debilitating baggage of sectarian interests. I am aware that such a call is unlikely to be heeded, but let it be made anyway, and let it stand to trouble those who discard any opportunity to turn a radical page in a nation’s history. As if the crisis were not sufficient in itself, we are constantly distracted by crude attempts to distort the role of the past in a nation’s unraveling. So, let us first address Democracy Day itself, since we know that those same nihilist voices, even before the annunciation, were already primed to degrade it, ridicule what should be a potent signpost for future generations. Such voices even make desperate efforts to annul its very history, no different from the original act of annulling an event that was universally acknowledged as the fairest, the most orderly and peaceful elections ever conducted in Nigerian history, a chastening contrast to this recent of 2019. June 1993 recorded – just some quick reminders – an election in which the loser readily conceded defeat, having watched himself outclassed in his own state, his local government, his ward, and probably at his very polling booth. He was however prevailed upon to change his mind, thus smoothening the path for official military annulment, with dire consequences that continue to plague the nation even till today. Several of the players – directly, and supportive -- in that inglorious history remain stubbornly in denial, but let no one attempt to shunt aside or obscure its potential for public re-orientation. It is now a near quarter of a century since that watershed, and a Restoration, albeit symbolic, has been promulgated – Welcome Democracy Day! Is there any value left to it? And is its formal, official recognition doomed to be nothing more than an exercise in superfluity? For all those who were actively involved, no matter how tangentially, in the events that flowed from the annulment of June 12, 1993 – largely of blood and lamentations -- the restoration of that date to a slot among the milestones of nation building will evoke, side by side with a sense of elation, a mood of sobriety and reflection, especially when one recollects how many productive projects were derailed, how many lives destroyed, how many underwent torture and remain traumatized by that experience, how many paid the supreme price. Many have witnessed death at close quarters, survived, but remain severely damaged. I shall leave

MKO Abiola others to comment on how little appears to have been learnt from that monstrosity of democratic subversion. What is undeniable is that the wiles of opportunists, cynics, saboteurs and beneficiaries from the sacrifices of others, continue to haunt the nation. Hopefully also, it does haunt them spasmodically, those who thought to bury the message of that date and its faithful evocations. Amnesia, the much-craved refuge of the battle weary, the ravaged psyche, or simply weak-minded, is not always to be despised. Where deliberately cultivated, even propagated however, it amounts to further cruelty against the violated. Forgiveness is a different matter. In most theologies, and even for non-believers, it is ranked among the loftiest attributes of humanity. For those of us who confess our inadequacy in that respect, we can only implore those who violate, contribute to, or profit from the mutilation of the very humanity of others, not to aggravate our mortal weakness by continuation of their past perfidy in any form. The orphan cries are still with us, so are the scars and trauma of survivors. Many remain impaired – physically and psychologically - for life. I shall not participate in this year’s June 12 celebrations – from choice. It is part of my training exercises for withdrawing from public space, a resolution that I first half seriously injected into encounters over five years ago. That absence applies, not to the official celebration alone – of which I have never been a part anyway - but to the annual ritual by civic groups, a ritual of both tribute and defiance that has been unflaggingly observed till now. However, regarding the earlier Abuja ceremony that signaled the state’s reversion to June 12 as the most truthful expression of a people’s democratic will, I did attend, even at the cost of breaking a journey on the way to Brazil. That event, for some of us, represented closure – at least substantially. It was a reunion of sorts, a cauterization of many internal, invisible, and yet suppurating wounds, and private thanksgiving - for some of us - that the only route that appeared left for the recovery of a people’s dignity was abruptly, and ‘providentially’ closed by the timely demise of a singular human perversion. The nation was saved the anguish of the unknown. That sense of relief, on its own, is worth celebrating. The anonymous ones who acted on behalf of ‘providence’ remain unacknowledged, but we still owe them our gratitude. One unforgettable extract from those dark days was the ease with which a people, accustomed to freedom as a natural bequest of humanity, can be thrown into a twentieth century enslavement, forced to endure a regimen of unprecedented brutality in

the exercise of power. A nation of over a hundred and a half million slid into a condition of – not merely apathy and indifference, but servility, unctuousness, sustained by rationalization of – there is no other word for it – evil! Sheer evil. Fear reigned supreme. Whispers substituted for voice, even in homes. It is liberation from that miasma of civic subjugation that underpins the symbolism of a Democracy Day, very different in quality from, for instance, the euphoria – where it exists – of a day of National Independence. Now why does one find it necessary to state what, in good faith, should be obvious? The answer is painful: that occasion also served as a trigger for raking up embers of divisive history, for tarnishing memories and belittling even the meagre harvest of a watershed in history. Don’t we all know it? Everything in this nation is fodder for controversy, often of the most pointless, mindless, simply adversarial kind – such has been this formal restoration of June 12th 1993 to its rightful place on the podium of Nigerian history. Let us address some brutal truths. One comment regarding this formalization especially rankles, since its accompanying train of remarks indicated that it was not a mere aberrant individual, but revelation of group sentiment. It was sent to me through the usual internet link and was, undisguisedly - a mock lament, a condescending swipe at the Yoruba race – yes, directly indicted - for being so naive as to have fallen for an obvious vote gathering ploy. The conveyed message reminded me of the movement initiated by Charley Boy – Your mummu done do! – who, together with his fellow protesters, was severely mauled in Abuja by an incited mob. At least Charley Boy refused to go down as nothing more than an internet slob, berating everyone around but swallowing the bile of daily discontent. He embarked on remedial action – one that was manifested in the true spirit of June 12th. There are several observations on that ‘social media’ posting, plus the predictable, bandwagon comments, often pre-arranged. It is necessary, indeed mandatory, to clean up this template of the past before proceeding. First, I was not aware that the Yoruba, acting as ethnic entity, ever made a statement that promised to reward the government with their votes in return for this alleged June 12th bribe. The serious, problematic bribe – the Minimum Wage concession – of course receives the scantiest of attention – beyond solidarity calls and insistence on implementation. Never mind that, North to South, East to West, numerous tiers of government are scrambling to find ways and means of ‘settling’ an agreement directed from the centre, with no corresponding consultation with states. From latest reports, even the Centre is taking to the sale of state assets – at disadvantaged prices – to fulfill a voter catchment commitment. This is the kind of consequential ‘bribe’, one would have thought, that merits critical attention. No matter, let us return to the monumental, non-material bribe. What does it consist of? A wrong had long festered, no matter how invisibly. Restoration was made. The faithful of June 12 embraced the gesture, pronounced their appreciation at the ceremony, several even with barbed qualifiers. After all, others before had had the opportunity, but chose to ignore, even deride the very notion of recognition, even if through symbolic gestures. If a few in that Abuja assemblage got carried away - and some did, both Yoruba and non-Yoruba alike - heaped fulsome praises on the government, far beyond its deserving in my view, I found it unconscionable to seize the occasion as an opportunity to jeer at, and vilify an entire people. I have asked myself over and

over again: to what end? Who profits from this? Next, I found it equally lamentable that anyone should attempt to reduce the June 12 struggle to that of an ethnic project. It is a depressing travesty of the realities, a denial of the existence of a nation’s collective sense of justice and its tenacity in pursuit of that objective. No one denies that the immediate family of a victim of robbery feels the pangs of dispossession more keenly than others. The truth however remains that the entirety of the compound itself was violated, arrogantly and contemptuously dispossessed. In this case, its very aspiration to a unified identity was simply ground underfoot, compelling a return to the starting block, and even several milestones behind! Disenfranchisement is the ultimate stigma for any free people. Again, despite official hostility, corporate blackmail and even victimization of some adherents of that date, a number of state governments but, even more crucially, civil society – with members drawn from across the nation - did not await permission of any power or agency of the centre to gather and celebrate that date, and pay homage to the fallen. The June 12th movement never went into recess, and the current government merely jumped on a bandwagon that was already propelled by the people. However, there is even more matter for discouragement, so we should not be surprised at the ethnic caviling. After the annulment, I recall that, when we tried to mobilize opposition to that sadistic impostor, fanatic voices of ethnic irredentism informed us bluntly, verbally and in print, that the Yoruba should go and solve their problems themselves, since we had let them down in the lead-up to the Biafran War of Secession, and should seek no collaboration from that side of the Niger. One recognizes, in today’s renewed voices of ethnic denigration, the same chant of a hate chorus, the fanning of divisive embers. It is gratifying therefore – and here we come to some cheering news! - that this tendency has become a source of concern to many of the leaders of that former secessionist state. It led to recent counter efforts under themes such as HANDS ACROSS THE NIGER, later followed by HANDS ACROSS THE NATION, encounters that have taken place both within the nation and outside her borders. It is crucial that those laudable initiatives continue in the same spirit of civic responsibility and nationally craved closure. We must however sound warning: these highminded efforts are increasingly vitiated by the fanatic and obnoxious voices of an irrepressible handful. No, we are not speaking here of organized protests and demonstrations to keep Biafra alive – for those of my school of thought, these are both legitimate expressions of the democratic will, and cannot be suppressed. We refer specifically however to abrasive, irrational, and irreverent diatribes of purveyors of unrelenting discord. Their innate proclivities are readily facilitated by that grossly polluted space – the so-called social network. Some have gone beyond recall, like the proverbial mongrel which no longer heeds the call of the hunter. They have become so blindsided that, almost under demonic possession, they heedlessly alienate sources of empathy and act against their own interests. This was prevalent in its most unfiltered density during, and after the 2019 elections. Let the following be stated and re-stated as a personal, unwavering, socio-political conviction: The vision of a common homeland, rooted in commonality of ideas, values, culture, history and purpose, is as natural as breathing. Continued on page 59

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