How minister, wife, son died in fatal auto crash

...towards a better life for the people

ONLINE | www.vanguardngr.com

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VOL. 25: NO. 62708

N150

MONDAY, MARCH 7, 2016

How minister, wife, son died in fatal auto crash •We've lost key component of change agenda — Buhari See story on Page 8

Late Minister, Ocholi

Late Mrs. Ocholi

TERRORISM: Story on Page 5

Suspected kidnapper of three Lagos school girls, Emmanuel Arigidi (left) with two other conspirators paraded, yesterday in Lagos.

P.32

Gunmen kill APC Ward Chairman, wife, son in Rivers 12

P.34 ONOME

OWEI LAKEMFA

We can’t shut our eyes to injustice C M Y K

HENRY BOYO

Will agonising fuel queues ever end?

4

OCHEREOME

AMAWHE

NNANNA

N5,000 dole: A Splendid yes and no Achievement

COLUMNISTS:

Police rescue abducted Lagos school girls

P.33

ESE ORURU'S ABDUCTION: It's criminal matter, not religion — SOYINKA

Why FG, other investors can't access N5.3trn pension fund •P.17 •P.35

Why Nigeria'll join Saudi-led Islamic coalition — BUHARI 10

Mr & Mrs

2—Vanguard, MONDAY , MARCH 7, 2016

Vanguard, MONDAY , MARCH 7, 2016—3

4—Vanguard, MONDAY, MARCH 7, 2016

By Charles Kumolu

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AGOS— NOBEL laureate, Professor Wole Soyinka, and human rights activist, Mr. Femi Falana, have cautioned against dismissing the abduction and forced marriage of 14-year-old Miss Ese Oruru as a religious matter, describing the issue as a criminal act that must be lawfully prosecuted.

The duo fumed that the mastermind of the act, Mr. Yunusa Yellow, may have taken a cue from the failure of concerned institutions at sanctioning similar acts in the past, especially Sen. Ahmed Yerima’s reported marriage to a minor in 2010.

Briefing newsmen, yesterday, in Lagos, Soyinka said attempts at giving the issue a religious colouration would further encourage similar acts in future, adding that rather than making Islam the crux, efforts should be made to save the religion from those who are hiding under it to perpetrate crimes.

Soyinka further said the role of the Emir of Kano, Alhaji Muhammad Sanusi, might have been misunderstood, noting that the emir did not come across as someone who would support child abduction, marriage and forceful conversion to Islam.

In addition, he noted that if proven wrong on Sanusi’s role, he would apologise, stating that the Police should primarily be blamed for not doing a thorough job.

This came as the Hausa Community in Bayelsa State blamed Ese’s parents for the girl’s travails, stating that they failed to provide adequate parental care and vigilance.

Chairman of the state chapter of Arewa Consultative Forum, ACF, Nuhu Ibrahim, who said this, regretted that blames were being shifted to only one direction.

According to Soyinka: "For me I don’t know about you, the welfare of a child is even more serious, more important than the money which is stolen. You can always retrieve the money but when you damage a child, especially with that common vaginal fistula, it ruins the child for life.

"If you believe in God, you are commiting a crime against God. If you steal money, you commit a crime against me, against the circular society but when you damage a child because of your own depravity, you ruin that child for life, traumatise that child. If you say you believe in any deity, you are committing a crime. Don’t come and tell me that you are religious.

"In addition, scholars like Madam Uwais during that episode brought out tenets from the same Quran to prove that Yerima was lying against the Quran. He was lying against Islam. He was interpreting Islam for his own private ends. If you remember all the arguments then, Islamic scholars stated that yes Prophet Mohammed (Peace Be Upon Him) may have espoused

Ese Oruru’s abduction: It's criminal matter, not religion— Soyinka, Falana Say Yerima created precedent for Yunusa’s action Note Sanusi’s role on the matter misunderstood Want Army to rescind decision on demoted Gen Ransome Kuti Hausa community blames Ese’s parents, Yunusa a special court martial, he was charged with cowardly behaviour for failure to carry out his duty and loss of equipment.

"At the trial, we made it clear that in the circumstance which he found himself, if he had not withdrawn his troops, we would have had a case of massacre because they were illequipped and not well motivated.

He was imprisoned for six months. At the time the Army Council met last week, they quashed the imprisonment.

They said they are demoting him from the rank of Brigadier General.

"Again, it is a case of injustice because he performed his duties within the ambit of the law, so there can be no justification for humiliating him by reducing his rank while he was serving his fatherland."

Hausa community blames Yunusa, Ese’s parents Ese Oruru his young wife, that he never consummated it. I remember those arguments vividly.

Lying against Islam “Even Haruna, the great defender, said Yerima was on his own, that he went and brought an underage child and should not claim protection under Islam.

So who failed since there were so many voices? Who were those who failed that child who was brought from Egypt? The society. Me and you. Women organisations especially.

"I remember I berated them at a time that they should take the lead in these battles. Whether you talk about Women Arise or whatever, I told them that they failed. We all failed but your responsibility is worst than ours.

For me, that case is not yet over.

"You will understand how conduct, impunity like that of this legislator, former governor led inevitably to Boko Haram because when you use religion, there are others who will come and say that if you say you are pious, you are holy, I am holier than you and, therefore, I can interpret that same religion the way I want.

"That is what happens when we allow people to get away with impunity based on religion.

Let us take religion out of it. We are talking about pure criminality and it is my demand

and it has always been my demand that until you make an example of people like Yerima, there would be thousands of Yunusa, the man, who abducted Ese. “I sympathise with his feelings that his religion is under siege but he should not try to say that people hate Islam. And I say this that it should not be said that people are Islamophobic. We are against crimes committed, defined by the constitution the legal structure that binds us all together and we say, keep religion out of it.

"When we are talking about crimes, don’t diffuse the subject.

When we are saying that Yerima should be prosecuted, don’t diffuse. And above all, don’t try and quote literature to diverse.”

Rescind decision on Ransome-Kuti

While speaking on the demotion of Brig-Gen Enitan Ransome-Kuti to the rank of colonel by the Nigerian Army Council, the duo called on the military to rescind their decision, adding that Ransome-Kuti did the best he could under the circumstances he found himself.

Speaking in that regard, Falana said: “During the week, Brig-Gen. Enitan Ransome-Kuti was released on the orders of the Army Council. He was jailed by

On Ese’s abduction, Ibrahim said: “What Yunusa did was very bad and condemnable. I married from Bayelsa and my wife is from here. We have been living together peacefully for a very long time until this unfortunate incident. We should not allow this sad incident to tear us apart. As leaders of the Hausa community, we were not happy with what happened and we worked to see that things did not get out of hand and we thank God that she is back.

"This incident shows that there is need for everyone to brace up to their responsibilities, all hands are pointing at Yunusa and no one is looking at others.

“The parents have their blame as well as all others that had one role or the other to play in all these. I also did my own investigations before briefing the national headquarters of the ACF in Kaduna on this matter. Yunusa was not a stranger to the Orurus. He is well known to them and that brings the issue of parental care and vigilance which is lacking in our society today.”

He assured that the leadership of the Hausa community in Bayelsa would continue to promote peaceful coexistence among different ethnic groups in the state.

The Police in Bayelsa have shielded Ese from the media and the public since her arrival from Abuja.

Nigeria’s active telephone users increase by 340,525 in January

T

HE Nigerian Communications Commission, NCC, has said that the active subscribers in Nigeria’s telecommunications industry increased by 340,525 in January.

The regulatory body made this known in its Monthly Subscriber Data, which was made available to the News Agency of Nigeria in Lagos, yesterday.

Active lines in Nigeria stood at 151,357,769 for the month of January, against the figure of 151,017,244 in December 2015.

According to the data, 149,022,919 of the 151,357,769 active numbers subscribe to the Global System for Mobile Communications, GSM, network services.

The GSM operators’ active customers increased by 341,557 from the 148,681,362 subscribers they recorded in the month of December.

The Code Division Multiple Access, CDMA, operators had 2,147,982 active users in January, indicating a decrease of 745 from the 2,148,727 customers they had in December.

Also, the monthly subscriber data showed that the Fixed Wired/ Wireless networks’ consumers decreased to 186,868 in January, as they lost 287 customers to their record of 187,155 in December.

The chart revealed that the teledensity of the c o u n t r y ’ s telecommunications industry increased to 108.11 per cent in January, from 107.87 per cent in the month of December.

The teledensity statistics measure the percentage of a country’s population with access to telecommunications services as determined from the subscriber base.

Nigeria’s teledensity is currently calculated by the NCC on a population of 140 million people.

Vanguard, MONDAY, MARCH 7, 2016—5

POCKET CARTOON

FOR OGONILAND—From left: Minister of Environment, Hajia Amina

Mohammed; Gov. Nyesom Wike of Rivers; Minister of State for Environment, Alhaji Ibrahim Jibril, and Special Adviser to the Governor on Sustainable Development Goals, Mrs Toru Ofili, during the ministers' visit to Government House, Port Harcourt, as part of activities geared towards the clean-up of Ogoniland, weekend. Photo: NAN.

Police rescue abducted Lagos school girls

By Emma Nnadozie, Crime Editor, Olasunkanmi Akoni, Bose Adelaja, Ifeanyi Okolie & Monsur Olowoopejo

L

AGOS—AFTER six harrowing days in the custody of kidnappers, three abducted students of

Babington Macaulay Junior Seminary, Ikorodu, Lagos, yesterday, breathed the air of freedom. The girls were rescued in Imota, another town on the outskirt of Ikorodu, after intricate police moves that started with the arrest of one of the suspects, last Friday.

The girls- Timilehin Olusa, Tofunmi Popo and Deborah Akinayo, were abducted last Monday in their school, an act that

outraged the nation. The news of their release provoked spontaneous jubilation in their school when Vanguard visited, yesterday.

Though they were not publicly presented after their rescue, Vanguard gathered that the girls were not molested by the kidnappers. To ascertain their health status, police authorities reportedly took them to an undisclosed hospital for medical examination after their rescue.

However, a suspected member of the gang that abducted the girls and two other accomplices have been arrested by security agents.

Eleven other suspected members of the 12-man gang were said to be at large and police are still on their trail.

The picture of one of the

IT'S UP TO YOU

BY AYO ADIO

I

T is your level of proficiency at a thing that will determine the level of recognition you get.

Always strive for excellence and perfection. It's up to you.

TAKE HEART

BY ELLA RANDLE

As we express our gratitude, we must remember that the highest appreciation is not to utter words but to live by them —John F Kennedy

G

RATEFUL people have a higher sense of selfworth. I think that’s because when you’re grateful, you have the sense that someone else is looking out for you. Once you start to recognize the contributions that other people have made to your life, once you realize that other people have seen the value in you, you can transform the way you see yourself. Just because gratitude is good doesn’t mean it’s always easy. Practicing gratitude can be at odds with some deeply ingrained psychological tendencies but if we focus on gratitude, we’ll attract our heart desires.

SAYINGS OF OUR PEOPLE The man who has bread to eat cannot appreciate the severity of famine.

two conspirators paraded, according to the police, is on the registration Subscriber Identity Module, SIM, of his phone. It was also gathered that one of the arrested kidnappers, a prime suspect, Emmanuel Arigidi, led police operatives to secure the release of the abducted girls somewhere at Imota.

Confirming the news, Lagos State Commissioner for Information and Culture, Steve Ayorinde, said no ransom was paid. He blamed the crime on some pipeline vandals who he said had been sent out of business by security agencies.

Meanwhile, it was jubilation galore, yesterday, at the school as parents and students expressed appreciation to Almighty God over the release of the three female students.

This came as a militant leader simply called ‘General Ossy ’ made frantic calls, Saturday, exonerating his group from the abduction saga.

He, however, vowed that his group would continue to engage in vandalism, boasting that

no security force could flush them out of existence.

Governor Ambode parades suspects

While parading the three suspects at the Lagos State Government House, Alaus a, Ikeja,

yesterday, the obviously elated governor, Mr. Akinwunmi Ambode, commended the gallant effort of the Nigeria Police and other security operatives in the rescue of the girls.

Ambode said: “In the early hours of today, (yesterday), the Lagos State Police Command, the Department of State Service, DSS, and

members of the Armed forces worked tirelessly round the clock in the last six days to secure the release of the children. I thank them for a good job.

“The three girls have been safely re-united with their families and the government wishes to assure Lagosians that their security is top priority and it will not relent in ensuring that Lagos remains safe and secure.”

The governor, therefore, warned that the state government would not tolerate kidnapping or any form of crime in the state.

"Our position is clear and unambiguous. Lagos State has the capacity and the will to go after every form of crime and criminality in order to safeguard lives and property in the state.

“As our daughters are re-united with their mothers and other members of their families, I would like to seize this opportunity to wish all mothers in Lagos State and Nigeria at large a happy "Mothers’ Day.” Ambode had earlier assured that his administration will not spare any effort to ensure the safe release of the three female students.

“We have not been silent on this unfortunate development.

In a delicate security matter of this nature, where young innocent people are involved and management of information demands utmost circumspect, we were convinced that swift and coordinated reaction, guided by intelligence reports on the part of the Police, was a better and more sensitive approach

to take, rather than a sensational, panicstricken reaction,” he said.

Commissioner of Police Lagos speaks

Briefing the media, Lagos State Commissioner of Police,

Mr. Fatai Owoseni, confirmed the safe return of the girls to their parents assuring that the situation was under control.

According to Owoseni: “Actually three suspects were arrested, one was actively involved, two others are conspirators, who one way or the other aided the kidnapping.

With respect to the state of the girls, they are very well, they are very stable and immediate medical attention was given to them by police medical team and I can as well tell you that as we picked them up, one of the questions we asked was whether they were molested and the three of them stated unequivocally that they were not molested in any way.

“Someone had mentioned ransom, it is unfortunate that we keep

on mentioning ransom.

When you talk of ransom in cases like this, you are glorifying that.

We shouldn’t be talking of that again in this country because if you are talking of ransom, you are telling others that kidnapping is viable and they can be going and kidnapping people to collect money, but I want to also say that what was employed in rescuing the girls is more of application of intelligence policing using the platform of technology, partnering with members of the community, pressures on the kidnappers and with that pressure they found out that there was no way for them again to keep these girls and that was what led to the success in saving the girls. As to where the girls were rescued, it is around Imota area. As to where we picked our suspects, leave that to the police, we wouldn’t jeopardize our

investigation.”

How police rescued victims without ransom

There were indications that men of the InspectorGeneral of Police Special Intelligence Response Team, IRT, led by Abbah Kyari,were deployed to Ikorodu to rescue the

kidnapped school girls and apprehend the suspects. They reportedly made their first breakthrough mid-day Friday when they arrested a member of the gang at Ishawo, Ikorodu. The suspect, identified as Emmanuel Arigidi, was picked up while trying to buy food stuff for the kidnapped girls in the creek. Sources disclosed that the 37-year-old suspect confessed his involvement in the crime and told the police that the operation was carried out by 12 persons and they were armed with six Ak47 rifles.

Arigidi, told the police that one Felix also known as "Tradition" was the one negotiating the ransom, while Lamienmu brought the job to the gang. He also told the police that the rifles they used for the operation were given to them by one General Ossy, adding that he took part in one of the bank

robberies at Ikorodu, Lagos.

Vanguard further gathered that during interrogation, Arigidi led the operatives to arrest relatives of two of his gang members who were with the girls in the creek.

Those arrested included; the father, mother and sister of one of the suspects. On Saturday, the father of the suspect was said to have gone into the creek where the girls were kept and informed them that Arigidi had been arrested, while his wife and daughter were also with the police and the police was preparing to lead a 500-man squad into the creek to rescue the girls. It was gathered that the kidnappers told their colleague’s father that they would have killed him if not for his son but they asked him to assure the police that they would release the girls after ransom must have been paid by their parents. The man ,however, according to sources, told them that the police were not ready to pay any ransom but would rather storm the creek. The kidnappers were said to have assured

him that they would release the girls on Saturday or Sunday morning

Prime suspect, Arigidi confesses

Speaking with Vanguard , one of the suspects, Arigidi said: “Lamiameni (another member of the gang) brought the deal, we discussed how to carry out the operation at Majidun.

We were 12 people all together. We went to Maya Bridge to hire a canoe and around 8pm we entered the school and carried three girls. We later kept them somewhere. Afterward, there was a misunderstanding among us on how to keep the girls. I told them I did not like what we had done and we should release the girls in their schools because security had become tight and have been on our trail.

“Because I believe that sooner or later, they will get us. I didn’t want the

Continues on Page 6

6 —Vanguard, MONDAY MARCH 7 , 2015

Police rescue abducted Lagos school girls Continues from Page 5 police to be chasing us around. But my gang members threatened to kill me.

Subsequently, I managed to board a boat and ran away from our den. Three days after, men of the Special Anti Robbery Squad, SARS, rounded me up at Majidun and I explained everything to them.”

Parents, students jubilate over release

When Vanguard visited the school, yesterday, both the parents, staff and students

were in a joyful mood, singing praises, while others engaged in telephone conversations to alert their friends and relatives about the girls' rescue. Also, there was security presence in the school while the rear perimeter fence has been erected.

An, SSS 1 student of the school, (names withheld) said their release was a big relief to the students. He said their absence has thrown the school into mourning. “School activities were put on hold since our colleagues were kidnapped but now that they have been found, I am sure those activities will return as soon as possible.

A parent, Mrs Oni Queen said she was more than happy. “I have three children in the school, one in SSS 1, another in SSS 111 and the third one in JSS 111. People have been condemning the school for lack of adequate security but this is a proof that God is the ultimate security. I wish the suspects were arrested and paraded to serve as a deterrent to others. The release of the kidnapped students will stop kidnapping in schools because the government already knows how to protect the students.”

Call from the Creeks

At exactly 2.30pm, after Saturday Vanguard hit the streets with story captioned,’Abductors of Lagos Students behind past killings of security operatives, bank robberies’, a call came from the creeks. The caller who identified himself as ‘De Don’ bared his mind in unmistakable terms over the vexatious issue of vandalism and militancy in Nigeria.

Part of the conversation with our Crime Editor ran thus: De Don: Mr. Emma, this story you wrote today, saying that General Osy ’s gang are responsible for the kidnap of these Ikorodu girls, why did you do that?

Emma: Its from our investigation. Who are you?

De Don: I am De Don, a vandal.

I am speaking from the creeks, inside the forest.

Emma: What! Are you proud of being a vandal?

De Don: Yes, very proud. Why did you say we did it? We do not kidnap or abduct people. What we do is to reap from our natural resources, that is our oil. We belong to General Osy militant group. You people are fond of

MILE 12 MAYHEM: Traders lament loss of N500m goods •Residents plead for relief as Ambode visits

By Monsuru Olowoopejo & Angela Okpe

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AGOS—CHAIRMAN of the Hausa traders at Mile 12 market, Alhaji Haruna Muhammed hs appealed to Lagos State chapter of the Arewa Consultative Forum, ACF, to prevail on the state government to re-open the market, disclosing that perishable goods worth more than N500 million was lost to the closure.

He clarified that traders at the market had no hand in the mayhem.

According to him; “Mile-12 market was not part of the clash.

While the clash was going on, we were going about our trading.

We appeal to Arewa Forum to help us talk to Lagos State Government to re-open the market. ‘’As I speak, hundreds of trailer loads of perishable foodstuffs are waiting on the Ibadan Express-way.

This is as the Lagos State chapter of the Arewa Consultative Forum, ACF, has spoken on the need for the Hausa community and other residents in Mile 12 area of Lagos to live in peace with one another.

Chairman of the forum, Alhaji Aminu Dogara, who led some officials to Mile 12 following last Wednesday’s clash, which resulted in the loss of lives and wanton destruction of property, described the incident as

INSPECTION: Governor Akinwunmi Ambode of Lagos State and Brig-General Bilama Biu, Commander, 9 Brigade at the Mile 12 market, Lagos where traders clashed last Wednesday.

Photo by Akeem Salau.

unfortunate, stating that the market was meant for all Nigerians, irrespective of tribe or religious affiliation.

He explained that the purpose of their visit was to commiserate with those whose shops were affected in the clash.

Ambode visits scene, as residents plead for relief

Meantime, Governor Akinwunmi Ambode yesterday visited Mile 12 to inspect the scene of the fracas between the Hausa and Yoruba community which left over 10 persons dead and property worth

millions of Naira destroyed.

Ambode was accompanied to the scene by members of the executive council and top security officials in the state, to examine the extent of damage caused by the mayhem.

During the visit, burnt houses and cars were sighted at different locations in the communities.

Also, Military Armoured Personnel Carriers, APCs, manned by military officials were sighted at different locations in the communities.

Residents were sighted pleading to the Governor for relief material, as it had been the

11,000 vote in Benin Republic’s Presidential poll in Lagos

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AGOS—ABOUT 11,000 Benin Republic nationals yesterday converged at the Republic of Benin’s Consulate-General’s premises in Lagos to vote in their country’s presidential election.

Most of the nationals who came from Badagry, Ijanikin, Sango and other communities in Lagos, arrived at the polling centre as early as 7:00 a.m. for accreditation.

Mr Joel Houndolo, an Elections attributing all sorts of criminality to us. This is wrong.

Emma: But you know that vandalism is a crime. Why do you people abduct, kill and maim innocent citizens of this country including security agents?

De Don: What do you expect from us, after suffering to go to school, no job, poverty everywhere. Yet, few individuals are benefiting from our natural resources. This is the crux of the matter. We are poverty-stricken and members of our families are suffering. Most of us here, inside the mosquitoe-infested creeks are graduates that passed out with flying colours yet, nothing to show for it. Every time, they say Niger Delta militants, are we not the goose that laid the golden egg? Yet, we are dying."

Supervisor in Benin’s National Electoral Commission (CENA), told the News Agency of Nigeria (NAN) on the sidelines of the election that he was impressed with the people’s turnout.

“Even outside our country, we have here about 11,000 Beninese happily coming out in Lagos to participate in their nation’s Presidential election.

“This is the second time that we are having our elections in Nigeria, and we are very happy with the interest of the Beninese resident in Nigeria in taking part in our national elections from here.

“Let me also say that their interest in voting in our country’s election from here, also shows the peace they are enjoying in Lagos and across Nigeria,” he said.

Houndolo said that the votes would be counted at the premises, before being forwarded ‘securely’ to Benin’s National Electoral Commission (CENA) for the general announcement of the results, with others from across the world.

Dr Faustin Kpanou, Consul-General of the Republic of Benin in Lagos, said that the conduct of the election in Nigeria was to further promote the existing cooperation between Benin Republic and Nigeria.

custom of the state.

Ganiyu, who led the residents to plead for relief material from the governor, said “Please your Excellency, the mayhem has left an indelible mark on me. My house has been razed. I could not salvage my property. We need your assistance in order to continue our old lifestyle.”

Another resident, who identified himself as Olawale said “Your Excellency, you need to see what they had done to our houses; we need relief materials urgently.

Please order your agencies to assist us with relief materials.”

Vanguard, MONDAY, MARCH 7, 2016 — 7

I can’t be intimidated by one million DSS officials — FAYOSE Submit yourself to the law, APC tells Ekiti speaker

By Rotimi Ojomoyela

A

D O - E K I T I — FOLLOWING the alleged invasion and arrest of four members of the Ekiti State House of Assembly on Friday evening by the operatives of the Department of State Security (DSS), Governor Ayodele Fayose has declared that he cannot be intimidated by any show of force by the Federal Government.

According to him, even if the State was invaded by one million armed men of the DSS on the order of President Muhammadu Buhari, the government and the people of the state will never be intimidated to surrender governance of the state to political desperados, whose four years reign destroyed the economy of the state.

The Speaker of the Ekiti State House of Assembly, Hon, Kola Oluwawole had on Saturday told newsmen that operatives of DSS invaded the Assembly on Friday evening, during the sessions of various committees of the House, shot into the air and abducted four members of the House to an unknown destination.

The governor, who expressed concern over the activities of the DSS under President Buhari, said the security agency was overreaching its constitutional mandate, as it’s being used to achieve petty partisan interest.

Fayose said the government of Ekiti State may have to reconsider the usefulness of men of the DSS in the government house and other institutions of the state

By Daud Olatunji

A

DINNER: From left; John Aboh, Chairman, Ecobank Nigeria; Jibril Aku, Former MD, Ecobank Nigeria; Emmanuel Ikazoboh, Chairman, Ecobank Transnational Incorporated (ETI); Charles Kie, MD, Ecobank Nigeria; John Odeyemi, former Chairman, Ecobank, Nigeria and The Olor’ogun Sonny Kuku, immediate past Chairman, Ecobank Nigeria at the bank’s Board of Directors' dinner in honour of new and immediate past directors of Ecobank Nigeria in Lagos on Saturday. government.

Fayose, in a statement in Ado-Ekiti yesterday by his Special Assistant on Public Communications and New Media, Lere Olayinka, said the APC led Federal Government was pursuing a clandestine agenda of truncating democracy in Ekiti State and other Peoples Democratic Party (PDP) controlled States like Rivers and Bayelsa.

In his words, “If Buhari likes, let him relocate all DSS men in Nigeria with the entire ammunition in their armoury to Ekiti, the will of Ekiti people can never be broken. They will only try, and like they have always done, they will fail because dictatorship has never triumphed over the people.

Even Buhari’s dictatorship between 1984 and 1985 ended one day and Nigerians will also outlive his present dictatorship.”

Submit yourself to law, APC tells Ekiti speaker

Meantime, the APC in Ekiti State has asked the Speaker of the House of Assembly, Kola Oluwawole, to encourage his colleagues to submit themselves to the law over their alleged crimes against the nation’s constitution instead of embarking on blackmail to whip up sentiments for undeserved public sympathy.

Four members of the Assembly were whisked away to Abuja by DSS operatives at the weekend over undisclosed

offences on Friday.

The Speaker reacted, accusing President Buhari of witch-hunt over Fayose’s critical comments on the President.

But reacting to the Speaker’s allegation, Publicity Secretary, Taiwo Olatunbosun, said in a statement that the accusation against the President was not strange to the observers of Fayose’s politics.

He said instead of accusing Buhari of persecution, it was the governor that was persecuting the opponents, citing attacks on the opposition and persecution of APC Chairman, Jide Awe, after the court struck out a motion against him but Fayose still went ahead to serve the motion in his house.

Post Bank under-way, says Communications Minister

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BADAN—ALHAJI Adebayo Shittu, the Minister of Communications says the Nigeria Postal Service, NIPOST, will soon introduce Post Bank to bring banking services to rural dwellers.

Shittu said this while addressing journalists at his Ibadan residence yesterday.

He said post bank would avail rural dwellers access to banking services through NIPOST offices across the country.

The minister also said the ministry would soon arrange with all foreign postal services to make the Express Mail Service (EMS) of NIPOST to handle all internal distributions across the country.

He said that such efforts were part of the reforms the ministry had planned in order

Ogun doctors begin strike today

to make NIPOST viable, relevant and effective.

“There is a law now on stamp duties. Every legal transaction above N1,000 would attract N50 levy as stamp duty ”, the minister said.

Shittu said the call for applications from suitable and competent individuals to be appointed as Post-Master General was in line with the transparency stance of the present administration.

“From the advert, we had 47 applications of which 21 had been selected for interview. The 21 would have their interviews from Wednesday to Friday on the basis of seven persons per day.

“I did not unilaterally choose an individual for reasons of due process and to uphold the present administration’s principle of transparency.

“We have also ensured that our interviewers were drawn from all the ministries and agencies, including EFCC, ICPC and the Federal Character Commission”, he said.

Shittu said the ministry would ensure rural areas had internet facilities, adding that

Information and Communication Technology (ICT), had made activities convenient and easier.

The minister said ICT was capable of producing sufficient wealth for the nation, stressing that it was the highest employer of labour after agriculture.

B E O K U TA — DOCTORS, under the umbrella of the National Association of Government General Medical and Dental Practitioners, Ogun State Chapter, have commenced a one-week warning strike today to press home their demands.

The association, in a communique issued at the end of its emergency general meeting said the strike became imperative having explored all opportunities to get the attention of the state government on issues affecting the health system in the state.

The communique signed by its chairman and secretary, Dr. Oladunni Adetola and Dr. Adetonwa Festus respectively stated that series of letters had been written to Governor Ibikunle Amosun on the need to restructure health facilities; shortage of staff and relativity.

The association explained that so far the State Government fails to attend to the issues affecting the health sector which include; lack of materials, equipment and good working environment, little or nothing could be achieved in the health sector in the state .

The body also identified shortage of staff across all cadres of the health workers,submitting that there was no new recruitment in the last two to three years,despite the increasing demands on the sector.

NAGGMDP also noted with dismay the refusal of the state government to respect a circular by the federal government since 2013 on the need for all states to effect the payment of corrected CONMESS to correct an error of over 20 years on the doctors salary.

It added that the state government has continued using same circular in the last 10 months to pay doctors in the teaching hospital it employed.

Ajimobi inaugurates LGs caretaker chairmen

I

BADAN—GOVERNOR Abiola Ajimobi of Oyo State will today inaugurate the caretaker chairmen for the 33 local governments of the state at the Executive Chambers of the Governor’s Office.

The House of Assembly had screened and cleared the last batch of the chairmen nominees on Friday, February

26, thus paving the way for today’s inauguration.

Chairman, House Committee on Local Government, Chieftaincy Affairs and State Honours, Hon Bolaji Badmos, representing Akinyele Constituency II, had given the 33 nominees a clean bill of health after their appearance before the committee.

A statement by the Special Adviser to the Governor on Communication and Strategy, Mr. Yomi Layinka, says the event will take place by noon.

The governor had three weeks ago submitted the names of the 33 nominees to the Assembly for screening.

The list is a combination of returnees and fresh faces.

8—Vanguard, MONDAY, MARCH 7, 2016

By Ikechukwu Nnochiri, Levinus Nwabughiogu, Luka Binniyat & Boluwaji Obahopo

L

OKOJA —TRAGEDY struck, yesterday, as theMinster of State for Labour, Chief James Ocholi (SAN), his wife and son died in a fatal auto crash along Abuja-Kaduna highway.

Meanwhile, President Muhammadu Buhari has expressed shock and sadness over the development.

While Ocholi, 55, and his son, Aaron Enojo, 20, died instantly, his wife, Blessing Fatima, a Registrar at Salem University, Sokoto, was said to have died later from injuries sustained in the crash.

Vanguard gathered that the wife slipped into coma before she finally gave up the ghost in the hospital.

The late minister and members of his family were said to be travelling in his Prado sports utility vehicle when the accident occurred.

How he died

Explaining how the minister and his family members died 57 kilometers away from Kaduna, Kaduna State Sector Commander of Federal Road Safety Commission, FRSC, Francis Udoma, said the rear tyre of the SUV they were travelling in burst, while the vehicle skidded off the road and somersaulted several times into the bush.

Udoma, who made this known in a telephone chat with newsmen in Kaduna, yesterday, said: “The rear tyre burst and the vehicle somersaulted into the bush. The minister and his son died on the spot, the wife died in the government hospital at Doka, Kaduna.

“His driver, the chief detail, the orderly and the P. A. (Personal Assistant) were injured and are receiving treatment.”

The news of the minister’s death reportedly rattled the Presidency, which deployed some members of the cabinet to receive his remains at National Hospital, Abuja, last night.

They include Secretary to the Government of the Federation, SGF, Babachir Lawal; Governor Yahaya Bello Kogi State; Minister of Labour, Chris Ngige; Minister of Health, Professor Isaac Adewole; Dr. Jaf Momoh, and Chief Medical Director of the hospital, Dr. Tayo Haastrup,

Buhari expresses shock, sadness

Reacting to the accident, President Muhammadu Buhari in a statement by Garba Shehu, his spokesman, described Ocholi’s death as untimely, regretting that Nigeria had lost a key component of the change agenda.

He also described the deceased as an accomplished and patriotic Nigerian, saying: “Barrister Ocholi was an accomplished and patriotic Nigerian, who was keen to accept the call to service at a time his country needed him.”

The President remarked that in the few months Ocholi had been in office, he had already begun to

Minister of State for Labour, Ocholi, wife, son die in auto crash We've lost a key component of change agenda — Buhari

The late Chief James Ocholi

The late Mrs Ocholi.

described the death of the minister and his son as shocking and a monumental loss.

APC National Secretary, Mai Mala Buni, in a condolence message, said the late Ocholi, who was the party’s Deputy National Legal Adviser, would be remembered for his selfless service to the country as minister, party, legal profession and his home state, Kogi.

While extending his condolences to the people and government of Kogi State, Buni prayed God to grant Ocholi’s immediate family the fortitude to bear the painful loss.

A condolence message by his friend, Mr. Sebastian, read: "It is simply unbelievable that my good friend, James Ocholi, SAN, is dead. Worse is that he died with his beloved wife and child. This is most tragic. This is most shocking.

Death, where is your victory?

‘Where is your sting? Christ overcame you and rendered you comatose on that Old, Rugged Cross when He resurrected with tempestuous power. I mock you in most un-mistaken terms."

It's devastating —El-Rufai

Scene of the accident. distinguish himself through his commitment and dedication to his portfolio, adding that Ocholi had a long record of political association with him.

Buhari also extended his condolences to the government and people of Kogi State, who he described as having lost a distinguished and irreplaceable son.

This was even as he also sent the Secretary to the Government of the Federation, Mr David Babachir, to formally convey the news to members of the deceased family as well as his church and prayed that God comforts and grants them the grace to bear the loss.

“The entire country mourns the loss of this great man, who has sadly left us when we need him most,” the President said.

He was pragmatic, dynamic lawyer —Kogi gov

Also reacting to Ocholi’s death, Governor Yahaya Bello of Kogi State expressed shock and described him as a pragmatic and dynamic lawyer.

Bello in a statement issued,

yesterday, in Lokoja by his Chief Press Secretary, Kingsley Fanwo, described the late Ocholi as a pragmatic, dynamic, humane and brilliant law officer, who was known around the world for his dexterous approach to legal and political issues and one of the most unswerving constitutional lawyers Nigeria has ever produced.

“The governor recollected with nostalgia how the late Senior Advocate of Nigeria joined other progressive minded individuals around the country to drive the intellectual pillars of the All Progressives Congress. The late Ocholi was a complete gentleman, who was irrevocably committed to the advancement of Nigeria,” Fanwo said.

The governor also described the late minister as a detribalized Nigerian, who believed in the oneness of the nation, summing up his death as an irreparable loss to Kogi State, Nigeria, the All Progressives Congress and the legal profession.

Speaker of Kogi State House of Assembly, Umar Imam, said the late minister’s quest for peaceful resolution of every

issues, be it political, community or otherwise, endeared him to the hearts of the people.

Umar in a statement by his Special Adviser on Media, Bawa Dangana, said though the death occurred at a time he was needed most, the people of the state would take solace in the agitation of the late minister to ensure that peace reigned in the society.

The speaker urged the family to take solace in God, and urged the people of the state to take lessons from his death and pursue peace at all times.

Erstwhile Minister of Labour and Abuja lawyer, Nwadiala Emeka Wogu, in his tribute, described his death as shocking and saddening.

He said: "It is very sad and shocking and a big loss to the legal profession. The labour movement will miss him, given his active involvement in the peaceful resolution of industrial issues."

It's a monumental loss —APC

The All Progressives Congress, APC, in reaction,

Governor Nasir el-Rufai of Kaduna State in a statement yesterday, said Kaduna State government was in deep shock over the loss.

El-Rufai, through his spokesman, Mr. Samuel Aruwan, said the accident was devastating.

He said: “The state government extends its heartfelt condolences to President Muhammadu Buhari and the Ocholi family.

“Our condolences go to members of the Federal Executive Council and the entire nation. The minister died at a critical time when his contributions in the ongoing national rebirth and realisation of the change mantra are needed.

May the Almighty God grant their souls eternal rest.”

It's sad—NBA

In his reaction, NBA President, Augustine Alegeh, SAN, said: “It is a sad and shocking news. It is unbelievable. James was a devout Christian, a consummate bar man whose knowledge of law stood tall.

"He was modest, unassuming but very clear-headed and efficient in the discharge of his duties. He contributed immensely to the development of the bar. This is a very sad and painful loss to the entire bar. We pray for the safe recovery of his wife and others involved in the accident” Labour analyst, Mrs. Funmi Komolafe, said: "His (Ocholi) appointment was seen as an indication that the Buhari administration was set to move the ministry beyond dispute resolution and strikes.

"It was the first time that the ministry had a Minister of State.

Before his appointment, the ministry always had a minister.

Successive governments never saw Labour as a key ministry that deserves a Minister of State.

"Ocholi died before he could make his mark or justify his appointment.’’

Vanguard, MONDAY, MARCH 7, 2016 — 9

10—Vanguard, MONDAY, MARCH 7, 2016

Terrorism: Why Nigeria'll join Saudi-led Islamic coalition —Buhari P

RESIDENT Muhammadu Buhari said, weekend, that Nigeria would join the coalition of Muslim countries against terrorism, led by Saudi Arabia, because of the activities of Boko Haram.

The President had, during his state visit to Saudi Arabia last week, said Nigeria would not be a part of the coalition.

“Even if we are not a part of it, we support you,” the President had said at the meeting held in Saudi Arabia in February.

But speaking in an interview with Aljazeera at the weekend, the President said: “We are part of it because we have got terrorists in Nigeria that everybody knows, which claims that they are Islamic.

He noted that Nigeria was currently faced with attacks by Boko Haram, which had claimed over 20,000 lives since 2009.

The Aljazeera interview is believed to have been held in Qatar, where President Buhari visited after his trip to Saudi Arabia.

President Buhari said in the interview: “If there is an Islamic coalition to fight terrorism, Nigeria will be part of it because we are casualties of Islamic terrorism.”

Asked how the coalition would

work in Nigeria’s interest, the President said it would be within the framework of Lake Chad Basin coalition against Boko Haram, which comprises Nigeria, Niger, Chad, Cameroon, and Benin.

“I don’t think we need to tell the press the details in relation

to the number of troops to be deployed by the Lake Chad coalition that would be part of the Saudi-led coalition,’’ he said.

On whether or not his decision would go well with Nigerian Christians, who make up about half of the country’s population, Buhari said: “I have just told you

it is the Boko Haram itself that declared loyalty to ISIL. Now, ISIL is basically based in Islamic countries. If there is a coalition to fight terrorism, why can’t Nigeria be part of it?

“Why can’t those Christians that complain go and fight terrorism in Nigeria or fight the

militants in the south. It is Nigeria that matters, not the opinions of some religious bigots."

He denied seeking to change Nigeria’s multi-religious nature by his actions.

“How can I change the religious identity of Nigeria?” the President queried.

Allocation to caretaker LG chairmen: NASS handicapped —Dogara As NULGE urges Buhari to extend corruption war to council areas

By Emman Ovuakporie & Johnbosco Agbakwuru

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BUJA—SPEAKER of the House of Representatives, Yakubu Dogara, has said that the National Assembly was handicapped in stopping monthly allocations to local government councils without democratically elected chairmen.

According to him, the constitution vests the power to legislate on local government areas to state Houses of Assembly.

The Speaker stated this when the National Executive Council of the National Union of Local

Government Employees, NULGE, led by its national president, Khaleal Ibrahim, visited him in his office to renew their call for the autonomy of the local government areas in the ongoing 1999 constitutional review.

But Dogara, who was represented by the Deputy Speaker, Yusuf Lasun, assured the officials of NULGE, led by its national president, that the House would do everything within its powers to ensure the council areas were granted autonomy.

He advised them to engage seasoned legal practitioners to study the Nigerian constitution so as to explore all the available

opportunities to put in place the framework that will help to realise it.

He noted that the constitution of the country had given the right to legislate and create council areas to state house of assembly, adding that if the constitution should recognise three tiers of government, the local government areas should be autonomous.

He said the state governments were holding unto the joint account to run the financiers of the council areas.

Speaking earlier, NULGE national president,Khaleal, said their visit was for the emancipation and freedom of

Nigeria people and also to appeal to President Muhammadu Buhari to extend the ongoing fight against corruption in the country to local government areas.

He said the fight could not be completed without President Buhari extending it to the grassroots, particularly the operations at the local government areas.

Khaleal said: “We are of the opinion that the fight should be extended immediately. We believe that under your leadership, local government councils should be free and autonomous. The local government areas breach the gap between government and the grassroots.”

Vanguard, MONDAY, MARCH 7, 2016 — 11

12—Vanguard, MONDAY, MARCH 7, 2016

Gunmen kill APC Ward Chairman, wife, son in Rivers ....I saw them beheading my father —Daughter Stop senseless killings, Sen. Abe begs

Miss Victory Obi, daughter of the deceased (middle) and Rivers State Police Commissioner, Mr Musa Kimo.

By Jimitota Onoyume & Davies Iheamnachor

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UNMEN, Saturday night, beheaded the Chairman, Ward 4, of All Progressives Congress, APC, in Omoku, headquarters of Ogba/Egbema/Ndoni Local Government Area, Rivers State, Mr Franklin Obi, his first son, 18 years old Bestman and the wife, Ihuoma.

This is coming just as the senatorial candidate of APC, in Rivers South-East senatorial district for the legislative re-run election, Sen. Magnus Abe, alleged that hoodlums loyal to the embattled ex-militant leader, Mr. Solomon Ndigbara, had kidnapped and buried alive Mr. Paby Koryene, from Yeghe community.

Speaking, yesterday, in Port Harcourt, while addressing newsmen on the recent killings in Ogoniland, after the military invasion that allegedly ruptured the fragile peace in the area, Abe said: “Solomon Ndigbara, alias Osama Bin Laden and his boys abducted and have buried alive Mr. Paby Koryene. They went to his house the same day they burnt down my campaign office and dragged him away, even in the presence of witnesses.”

He appealed to the Federal Government and the Inspector General of Police to wade into the incessant killings of members of his party in the state.

Meanwhile, the state Police Commissioner, Mr Musa Kimo, who visited Mr Franklin Obi's ancestral home and the house where he was murdered along with his wife and son, lamented the killings, saying that the Police was not contacted while the operation lasted.

According to the Police chief, if neighbours had contacted the Police while the gunmen were around, probably they could have been arrested.

He appealed for collaboration between the Police and the community to put an end to mindless killings

C M Y K

in the area, just as he condoled with the family.

He said: “Probably, if they had called the Police, the killers would have been arrested. At least, they were there for about 20 minutes before they left.

“If a call had been made to the police, we would have responded immediately. The killers must have been at the crime scene for about 20 minutes. Why didn’t you help us to help you? It is painful, it is sad. If we choose to work together, who knows, we would have arrested them. If you continue to be docile, then certainly, we will continue to have problem.”

The Police chief said that preliminary investigation showed that people on the street where the deceased lived saw two masked men but they did not alert security men.

Kimo, who was deeply saddened by the ugly incident, also visited the traditional ruler of the kingdom, His Eminence, Dr Chukumela Obi II, Oba, Eze Oba of Ogba land where he also appealed for community support to end the carnage in the area.

APC reacts The state chapter of the APC has accused an opposition party of allegedly being behind the murder of Franklin Obi, Chairman of Ward 4 of the party in Omoku.

Publicity Secretary of the party in the state, Mr Chris Finebone, alleged that the deceased presided over a meeting of the party in his ward on Thursday and was murdered on Saturday.

“Franklin Obi's killing is shocking. It goes to support what we knew all along, that they have been responsible for all the killings in ONELGA. Now, make your deductions. Late Obi was the APC Ward 4 Chairman. He managed and moderated the ONELGA APC meeting last Thursday and by Saturday he was killed and beheaded while the wife and son were also killed. Intelligent Nigerians, kindly make your deductions.”

The statement alleged that a chieftain of an opposition party was from the same ward.

Monarch weeps over killings in Omoku The monarch expressed worry over the killings in his kingdom, stressing that it was strange.

He said: “This is sad to hear, very sad. It has never been so in this community since I was born. By November, I will be 76 and I am now 46 years on the throne. It is strange. It is painful and sad. I wonder what the problem is. But it should not degenerate to this level. It is really sad.”

I saw them beheading my father —Daughter On Rotachi Street, off Krigana Road, Omoku, where the late Franklin Obi lived with his family, one of his daughters, Victory, said she witnessed when the assailants slit her father's throat in the bedroom.

She narrated to the Commissioner of Police, Mr Kimo, that the assailants first killed her father in the bedroom, chopped off his head and then went to the sitting room to shoot her mother.

She said the killers stormed their residence at 9p.m., adding that they first went for her father and later her mother before opening fire on her elder brother.

She said she ran outside, banging on doors of neighbours for help but nobody came out.

“I banged on several doors on our street but they were all locked, nobody came out until the killers left,” she said.

Continuing, Victory who is about 16 years old, said it was the Police that rushed her brother to the General hospital. “My elder brother, Bestman, was still breathing when the Police came and rushed him to the hospital. It was at the hospital he died,” she said, in tears.

Mr. Obi's younger brother, Mr Sonny Obi, said his elder brother, the late Franklin, who was about 50 years old, was not a cultist.

Vanguard, MONDAY, MARCH 7, 2016—13

Military operations in Rivers LGAs: Protesters shut down Bori

By Jimitota Onoyume

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ORT HARCOURT— BORI, headquarters of Khana Local Government Area, Rivers State, was shut down, weekend, as residents took to the streets in protest over the military invasion of two communities in Ogoni that resulted in the death of some persons.

The protesters carried placards denouncing the military invasion.

Some of them also carried mock coffins, saying that the military operations were politically motivated.

The Supreme Council of Ogoni Traditional Rulers has, however, endorsed the presence of the military in the area, stating that it was in the interest of the people of the oil rich area.

A chieftain of the Peoples Democratic Party, PDP, Senator Lee Maeba, who addressed the protesting youths, condemned the invasion, saying that there was no reason for the invasion.

He called on the Federal Government to withdraw the military men operating in Ogoniland.

“My appeal from this day is that

all military personnel illegally operating in Ogoniland should go,” he said.

Secretary to Rivers State Government, Mr Kenneth Kobani, also condemned the military operations, saying that it negated the tenets of popular democracy.

He urged Nigerians to join in condemning the operations, noting that it was shocking that some chieftains of All Progressives Congress, APC, in

the state had continued to support the military operations.

Kobani said: “What happened on those two days of rage, ought to have been condemned by all persons all round the country.”

It will be recalled that the military stormed Yeghe and Bori communities in Ogoni in search of an ex-militant leader and in the operations, about 17 persons were killed.

Meanwhile, the monarchs,

when the Minister of Environment, Mrs. Amina Mohammed, in company of Almed Jubril, Minister of State for Environment and Sen. Magnus Abe visited the area in preparation for the commencement of implementation of the United Nations Environmental Assessment Programme report on Ogoni, said that the presence of the military in the area was to check criminal activities.

Dickson slams oil multinationals over alleged double standards

By Samuel Oyadongha

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ENAGOA—BAYELSA State governor, Mr Seriake Dickson, has accused multinational oil companies operating in the Niger Delta of double standards on issues of remediation of the environment and payment of compensation for oil spills resulting from their exploration activities.

Dickson, weekend, when a

delegation led by the Minister of Environment, Amina Mohammed and the Minister of State in that Ministry, Ibrahim Jibril, called on him in Yenagoa, said: “You really can’t know the Niger Delta until you have visited Bayelsa State. This is the epicentre of the Niger Delta with all of its blessings, prospects and challenges.

“All stakeholders have a role to play to address the

weaknesses that are inherent in the institutions in this country, which some of the oil majors are exploiting and as it were to create two standards; one standard that is Nigerian and another that is Niger Delta where they can pollute and damage everything and suffer no consequences at all and another international standard, where if there is a spill in the Gulf of Mexico, BP will pay billions of dollars and pounds.”

Delta community to partner security agencies in fight against crime

A

By Festus Ahon

SABA—WORRIED by the high rate of insecurity in the country, Okpare-Olomu community in Ughelli South Local Government Area, Delta State, has promised to collaborate with security agencies to track down hoodlums in the area.

They condemned the spate of kidnappings in the country, particularly the kidnap of the octogenarian mother of Senator Emmanuel Aguariavwodo, Mrs Sarah Aguariavwodo.

Expressing gratitude to God for her release, the people, in a statement by the community ’s President General and spokesman, Chief Joseph Oluku, Pa. Onosevwe Barnabas respectively, warned criminals to stay away from the community henceforth.

They said the community was no longer safe for criminals, as the people abhor all forms of criminality.

14 —Vanguard, MONDAY MARCH 7 , 2016

FUEL SCARCITY: NNPC reopens Port-Harcourt refinery •Warri, Kaduna refineries remain shut

By Sebastine Obasi & Michael Eboh

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HE Nigerian National Petroleum Corporation, NNPC, weekend, said it has reopened the Port Harcourt refinery, about six weeks after it was shut down, while it also disclosed that it has stepped up efforts to bring the fuel scarcity currently witnessed across the country to an end.

This was even as the NNPC also stated that it paid N85.96 billion into the Federation Account for the month of January 2016, despite recording a loss of N3.55 billion in the same month.

Speaking during a tour of petrol stations in Abuja to assess the fuel crisis situation, Group Executive Director, Commercial and Investment, Mr. Victor Adeniran said Warri and Kaduna refineries could not resume production at the moment because the pipeline network supplying crude oil to the two refineries had been sabotaged and were yet to be fixed.

He appealed to Nigerians to be patient, stating that over the last three days, it had flooded the market with petrol and that in the next few days, the queues witnessed at petrol stations would disappear.

We are not looking for Saraki's replacement — SENATORS

By Henry Umoru & Joseph Erunke

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BUJA—SOME senators said yesterday that there were no moves to shop for a successor for Senate President, Bukola Saraki, just as they stressed that there was no need for such plot.

The senators in a statement jointly signed by six of them yesterday, they had an overwhelming majority of their colleagues who remained solid and unshakeable in their support for the Senate President.

Incidentally, all those who signed the statement are chairmen of various senate committees.

Those who signed the statement were the Chairmen Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Ibrahim, APC, Kwara South; Committee on Niger Delta, Senator Peter Nwaoboshi, PDP, Delta North; Committee on Media and Publicity, Senator Aliyu Sabi Abdullahi, APC, Niger North; Committee on Navy, Senator Isa Hamma Misau, APC, Bauchi Central; Committee on Ethics, Privileges and Public Petitions, Senator Samuel Anyanwu, PDP, Imo East and Committee on Health( Secondary), Senator Lanre Tejuoso, APC, Ogun Central.

The senators, who were apparently reacting to a

news story published by a national newspaper, said there was no truth about claims that some senators were discussing or thinking about Saraki’s successor because there was no basis for that.

According to them, it became necessary to issue the statement after consulting with their colleagues who said they have been bombarded with calls from their constituents demanding to know the veracity of the claims contained in the news story.

He said, “We want to appeal to Nigerians to bear with us. Part of what the NNPC has done was making sure the refineries are back on stream. The reasons the refineries are not working today is because the pipelines that are supposed to supply crude oil to them are not working. We are almost there.

“You can imagine if we have been able to put the Escravos - Warri pipeline into use, Warri refinery would have been up and running and part of this problem would have been alleviated.

“Port Harcourt is working because we have been able to fix the Bonny - Port Harcourt line. As I am talking to you, we are transporting crude oil from Bonny to Port Harcourt refinery. Kaduna cannot work because Warri also supplies Kaduna with product.”

He appealed to Nigerians to join in the fight against pipeline vandalism and oil theft, stating that the challenges currently witnessed in the supply of petrol across the country was due to the sabotage of the pipeline. It should be noted that this is the second time in less than six months that Port Harcourt refinery was shut down and reopened.

Commenting on NNPC’s strategies to end the fuel scarcity, Adeniran further stated that since Thursday, it had made special arrangement for intervention trucks, with a carrying capacity of 60,000 litres of petrol.

FAILURE TO SETTLE IDEMNITY: FCTA to drag Zenith Insurance, Leadway Assurance, Standard Alliance, others to EFCC

By Henry Umoru

A

BUJA—THE Federal Capital Territory Administration, FCTA, has vowed to drag Zenith General Insurance, Intercontinental Life Assurance Company, Leadway Assurance to the Economic and Financial Crimes Commission, EFCC over their failure to settle indemnity claims to affected staff involved in the administration’s Group Life Assurance Scheme.

Also to be dragged before the EFCC are Crystal Life, Capital Express, Wapic Life Assurance, Oceanic Life, Lasco, Goldlink,

among others.

The insurance claims which run into several hundreds of millions of Naira have been pending since 2007, a development that has kept the next of kin of the deceased in financial and emotional jeopardy, even when the FCTA had long paid the insurance firms their deductible premiums.

According to the FCTA, some of the affected staff were now deceased, just as it gave the firms 30 days deadline to pay the deceased families or face the full wrath of the law because the era of impunity was gone forever.

Vanguard, MONDAY, MARCH 7, 2016—15

NJC queries Judge for allegedly receiving N10m donation

By Ikechukwu Nnochiri

A

BUJA—THE National Judicial Council, NJC, has queried the Chief Judge of Enugu State, Justice I. A. Umezulike over an allegation that he accepted N10 million donation from a litigant before his court.

The allegation was contained in a petition that was forwarded to the NJC by an Enugu-based legal practitioner, Mr. Peter N. Eze. The CJ was alleged to have invited a litigant who was a plaintiff before him to the launching of a book he wrote, and accepted a donation of N10 million from the litigant.

Besides, Eze, in his petition with Ref No. MSC/23/2016, dated February 19, 2016, alleged that the CJ “altered a court order, for the purposes of

assisting a judgment creditor to gain possession of a parcel of land in dispute.”

The petitioner, who cited instances of misconduct against the CJ, told the NJC that the Judge struck out a plaintiff’s application, and still awarded punitive costs against the defendant.

Eze said he had earlier forwarded two petitions dated October 27, 2014, with reference No. MISC/45/2015, and another one on December 9, 2014, to the NJC. He told the legal body that the CJ issued a warrant of arrest against him, an action he said was connected to the fact that he criticised the N10m donation.

“My Lord I believe that this order for my arrest was made in bad faith and was a gross

abuse of judicial power and my fundamental rights. It was meant to intimidate me and cower me for complaining about the earlier misconduct of Justice Umezulike.

“My Lord, I have suffered grave persecution in the hands of Hon. Justice I. A. Umezulike.

I brought the matter to the attention of the NJC in 2014 and sadly I was told that the NJC was satisfied with the explanation Hon. Justice Umezulike had given to my complaints.

“Unfortunately I was never shown a copy of the reply Justice Umezulike sent to the allegations I made.

“In the meantime, I have been harassed by the police, sent on exile and my practice has virtually ground to a halt. All because I pointed out to Justice Umezulike that it was wrong for a judge to invite a litigant who is a plaintiff in his court, to a

launching of a book written by him, and accept a donation of N10,000,000 from the litigant.

“It is my fervent prayer that this time, my complaints are seen to be grave enough to warrant a panel of enquiry being set up to investigate Hon. Justice Umezulike”, the petitioner added.

Meanwhile, the NJC, through a query that was signed by the Chief Justice of Nigeria, CJN, Justice Mahmud Mohammed, gave Justice Umezulike 14 days to respond to the allegations.

The query with Ref No. NJC/ S.14/HC.EN/1/IV/327, read: “I forward herewith a petition Ref No. Msc/23/2016 dated February 19, 2016, against you by one Mr. Peter N. Eze on the above subject matter.

“The petition speaks for itself. I shall be glad to have your comments within two weeks from the date of your receipt of this letter, please.”

BIAFRA: IPOB replies Buhari, says ‘we would also not tolerate Nigeria' •As MASSOB, IPOB set to crackdown on Fulani herdsmen •Group petitions Ikpeazu over dumping of IPOB members'corpses in pits

By Emeka Mamah, Anayo Okoli, Frank Igata & Chimaobi Nwaiwu

E

NUGU—THE Indigenous People of Biafra, IPOB, yesterday welcomed the statement credited to President Muhammadu Buhari to the effect that Nigeria would not tolerate Biafra, pointing out that Biafra would also not tolerate Nigeria.

Spokespersons of IPOB, Emma Mmezu and Dr Clifford Iroanya who spoke for the organisation in a statement entitled “Response to Ohanaeze and Buhari’s disparaging remarks about Biafra on Al Jazeera,” said: “We wish to reiterate for record purposes that our leader, Mazi Nnamdi Kanu has not mandated Ohanaeze or any youth group to negotiate for his release.

“The agitation for Biafra is a long and arduous process and the entire IPOB family all over the world understands this approach as espoused by our detained leader.

“We have not come to merely agitate, we have come to restore or die in the process. Some people think we are joking or can be easily dissuaded from this divine path that God-Chukwu Okike Abhiama has mandated us to follow.

“Any negotiation on Biafra must be led by Nnamdi Kanu and nobody else. If roads, bridges and a few junior staff at Aso Rock are our problems as Biafrans, then IPOB worldwide can fund such infrastructural development alone and very soon, we shall do it. Our quest

is Biafra- nothing more, nothing less.

“On the issue of Buhari’s Aljazeera interview on Biafra, we welcome his comments because Biafra would not also tolerate Nigeria. Lord Lugard created Nigeria not Chukwu Okike Abhiama, God Almighty.

So, like USSR, it will collapse.

We, the IPOB Worldwide have decided not to go back on the quest for restoration of Biafra.

Nigeria is not bigger than USSR just as Buhari is not stronger than Michael Gobachev. Buhari can kill Biafrans as he did during the 1967 to 1970 civil war, but this time, it will not be the same.”

Cracking down on herdsmen

Meantime, a palpable trepidation is rife in the SouthEast geopolitical zone following yesterday’s warning from the Movement for the Actualization of the Sovereign State of Biafra, MASSOB, and the Indigenous People of Biafra, IPOB, directing all Fulani herdsmen engaged in pastoral activities to retreat to the northern part of the country as their safety can longer be guaranteed.

The pro-Biafra groups said it has become imperative for the Fulani herdsmen to leave the region as it can no longer, ”tolerate the systematic killing of our people and invasion of our land in the name of cattle grazing.”

In a statement signed and made available to newsmen in Enugu yesterday, MASSOB Leader, Uchenna Madu,

revealed that it has mobilized its allies to ensure that its directive was heeded.

According to Madu, ”we can no longer tolerate the systematic killing of our people and invasion of our land in the name of cattle grazing. Seventy per cent of Fulani herdsmen in the eastern region are Northern-trained secret army assigned for devastation and secret killing of Biafrans.

“MASSOB in collaboration with IPOB and other affiliates have vowed to protect Biafra land with enthusiastic spirit and motivation from foreign invaders in any disguise. As we have resolved to protect Biafra land, we warn Arewa secret army in disguise as Fulani herdsmen to concentrate on grazing with their cows as any further attack on our people shall be squarely returned.”

On the actualization of Biafra, MASSOB leader described President Muhammadu Buhari’s stance on the futility of Biafra secession from Nigeria as the,”ranting of a frustrated man who has lost major focus on international/diplomatic politics.

“The level of Biafra actualization has gone beyond Buhari’s imagination and comprehension. As long as Ndigbo and easterners in general live, Biafra can never be subdued by Nigeria. We advise the international community to ignore Buhari’s diplomatic propaganda against Biafra.

“We will continue to toe the line of non-violence in our pursuit for Biafra and will not lower our guard to continue to press for the

Ohuabunwa floors Orji in Abia North re-run polls

U

By Anayo Okoli

MUAHIA—SENATOR Mao Ohuabunwa of the PDP has been declared winner of the Abia North Senatorial re-run held last Saturday. He polled 26,009 votes to beat his closest rival, former Governor Orji Uzor Kalu the PPA candidate who polled 25, 814 votes.

The returning officer for the election, Dr. Nduka Nwankwo-Ojike, had earlier declared the election inconclusive on the ground that the margin of lead of 195 votes is far lower than the number of 62,000 registered voters.

He also cited report of ballot box and voting materials snatching, failure of card reader and absence of result sheet in some of the polling units for declaring the election inconclusive.

However, he later returned to Ohafia, some hours later, perhaps after consultations at INEC State headquarters, Umuahia, to declare Mao Ohuabunwa of PDP winner of the election.

Detained leader of Indigenous People of Biafra, IPOB, Nnamdi Kanu.

release Nnamdi Kanu,Ben Onwuka and other pro-Biafra detainees in prisons scattered all over the country”.

Preserving remains of killed IPOB

Peeved by the recent killing of some people believed to be members of agitating Indigenous People of Biafra, IPOB, whose corpses were dumped in some burrow pits in parts of Aba, Abia state, allegedly by security operatives, a civil rights group, International Society for Civil Liberties & the Rule of Law, has written to Governor Okezie Ikpeazu to rescue the corpses and preserve them for proper autopsy that would aid investigation.

The group also charged the governor to ensure “that justice be done to the victims, their families and the people of Abia State and Nigerians as a whole.”

The group in the letter, signed by its chairman, Comrade Emeka Umeagbalasi, urged Governor Ikpeazu to urgently intervene and safely secure the corpses to aid

investigation.

“Sadly, the corpses have remained abandoned and unevacuated by the government of Abia State till date. The corpses were covered with leaves and soaked with chemical substances strongly suspected to be a mixture of raw acid and embalming chemicals; for the purposes of disfigurement, erasing traces and making the corpses odourless.

“As at our last checks on Sunday, February 28, 2016, and Wednesday March 2, 2016, the 13 corpses were still there. There is also discovery of another three corpses of murdered citizens, strongly suspected to be members of the Indigenous People of Biafra, IPOB, in Abia State.

“The purpose of this letter of ours is to formally bring to your attention the carnage stated above and to demand that justice be done to the victims, their families and the people of Abia State and Nigerians as a whole," part of the letter said.

16 — Vanguard, MONDAY, MARCH 7, 2016 The International Monetary Fund (IMF) in its Article IV report on Nigeria released recently said it will support the federal government’s ongoing efforts at promoting targeted and core infrastructure in the areas of power, integrated transport network and housing.

It also gave its nod to government’s effort at reducing the cost of doing business through greater transparency and accountability, and applauds plans for massive employment of the youth and female populations.

This is cheering news coming at a time when virtually every report on Nigeria is negative.

It is also pertinent to observe that adequate funding of infrastructure will help to boost economic activities and create jobs for the Nigerian youth. Lack of funding in the recent past had caused many construction companies to retrench their workers due to the huge debts owed them by the various tiers of government. With enhanced budgetary allocations in the 2016 bud-

IMF support of FG’s targeted infrastructure get, housing, power and works ministries have enormous roles to play in re-positioning the economy and creating jobs.

Certainly, good roads will help grow the national economy, reduce travel time, cost of transportation of goods and services, and restore jobs that have been lost to transport-dependent services.

The Minister of Works, Housing and Power, Mr. Babatunde Fashola had in his maiden press briefing last year observed that in four construction companies that were sam-

pled at least 5,150 workers have been laid off as at March 11, 2015.

If each contractor has only 100 employees at each of the 200 contract sites, it means at least 20,000 people who lost their jobs can return to work if contractors get paid.

The possibility of returning those who have just lost their jobs to work is the kind of change that Nigerians expect to see from this government.

We agree with the submission of the IMF team that in addition to the above, Nigeria adopting a

sound petroleum industry bill and applying the Anti-Money Laundering/Combating the Financing of Terrorism framework will help to strengthen the regulatory environment for the oil sector.

It is equally important that the federal government yields to the call for emphasis at doing “more with less” to improve the efficiency of public sector service delivery and create an enabling environment to attract investment in the implementation of the 2016 budget.

Going by the level of macroeconomic adjustment that is needed to address the persistent terms-oftrade shock, the government in the 2016 budget implementation must emphasise structural reforms that will enhance growth. This way, we could improve on the envisaged 3.2 per cent growth in 2016 to 4.9 per cent.

Focusing strongly on prioritised infrastructure investment is the way forward for the economy.

OPINION A thought for Lagos child hawkers

By Alao Diyaolu

A

SHABI jumped deftly aboard the large bus that was just coasting to a stop at Oshodi, managing to unsteadily balance a tray of beef rolls in one hand and hung on for dear life to the bus’ doors as passengers struggled to alight from it. She is eleven years old, and the time was few minutes away from 10pm.

In response to the queries of a couple of incredulous passengers on the CeleIjesha bound bus, the youngster retorted: “Even my junior brother dey sell for Iyana-Isolo ( a popular bus stop on the Apapa-Oshodi Expressway)”, as she proceeded to hawk her wares at the top of her voice while striding the length of the 50-seater bus.

“Look at how such a little girl is hawking by this time of the night when she should be in bed; what kind of parents will send such young children out to the streets to sell at such an ungodly hour?

What if this girl is knocked-down by a moving vehicle, kidnapped or raped by persons of questionable character lurking around?”, asked a bewildered passenger aboard the bus. This lamentation then degenerated into a hot debate among the passengers, with some arguing for and others against roadside trading among under-aged which is now

a common sight on Lagos streets and highways.

Presently, in Lagos, at places such as Apapa-Oshodi Expressway, Ikorodu Road, Agege Motor Road, Ikoyi-Obalende, Ojuelegba-Stadium, Oyingbo, Carter Bridge, Idumota, Oshodi, Ketu, Mile 12, Third Mainland Bridge, Cele, IyanaIpaja, Agbado, Oke-Odo, Ikeja among others, it is not uncommon to see little children ranging from 9-13 years hawking various goods on the roads.

Some even take up the hazardous task of bus conductors.

These children who hawk by the roadsides usually suffer from fatigue, irregular attendance at school if they were enrolled at all, lack of comprehension and motivation, improper socialisation, exposure to risk of sexual abuse, high likelihood of being involved in crime.

Arising from this, our collective efforts should be geared towards securing a better future for our children

Roadside trading, especially by children of school age, is a negation of the International Convention on the Rights of the Child and also not in accord with the Lagos state social protection services. However, there is a divergence of opinions on what should be the response of government to street trading. Some are of the view that government should not enforce ban on street trading because it is an integral part of African custom and tradition.

Others see it as a manifestation of both poverty and underdevelopment while some others see it as a natural trend in every major city of the world. But I am of the view that a phenomenon that promotes child trafficking, misuse of public open spaces, insecurity on the highways, traffic gridlock, environmental degradation and violation of human rights should not be allowed to thrive.

It is indeed inhuman for anyone to engage a child in money making venture as seen every day on our roads with children running after moving vehicles with a view to making sales. Apart from that, such children are denied basic education which is another important right of every child. Many children have sustained lifelong injuries through street trading and hawking. Moreover, children who engage in hawking or other forms of hard labour may physically bear the marks of this rigour on their bodies before they actually get to

adulthood. Many of them have died as a result of hawking on the highways.

With all the environmental menace and insecurity associated with street trading; it is quite obvious that it could birth other social and security problems.

It should be stressed that Nigeria has enacted legislation concerning child labour within the Labour Act and has also adopted the Child Right Act (CRA) (2003). A key provision of the CRA is that using children for hawking is a punishable offence under the Act while Section 59 (b) of the Labour Act which prohibits the employment of children under the age of 16 years in any work which is dangerous and injurious to their health.

It is in the light of this that it should be emphasised that the Lagos State government has the responsibility to execute policies that conform to best practice, that can mitigate environmental nuisance and the security threat which street trading poses to its citizens. Loss of educational opportunity to the child hawker and liability to the community and the nation as a whole are some of the reasons why the Lagos state government should be encourage to enforce the section of the CRA. Arising from this, our collective efforts should be geared towards securing a better future for our children.

•Mr. Diyaolu, a public affairs analyst, wrote from Lagos.

MARCH 7, 2016

LAUNCH - From left: Steve Judo, General Manager, Special Duties, Channels Television; Bola Onadele Koko, MD/ CEO, FMDQ OTC Securities Exchange; John Momoh, Chairman/CEO, Channels Media Group, and Emmanuel Ukeje, Director, Financial Markets Department, CBN, at the live launch of FMDQ Price Ticker Tape on Channels Television in Lagos. PHOTO: AKEEM SALAU

INFRASTRUCTURE:

Why FG, other investors can't access N5.3 trn pension fund

By ROSEMARY ONUOHA

H

aving been in operation for over eleven years, investors are still unable to access the accumulated pension fund which is in excess of N5.3 trillion due to inability to meet criteria in the investment guidelines.

Investigation by Financial Vanguard revealed that Pension Fund Administrators, (PFAs) in charge of channeling the fund into qualified investment vehicles are yet to see any C M Y K

credible investment vehicle from Nigerians.

Even government bodies, especially state governments that are clamouring for the fund to be invested in infrastructure have not been able to come up with an infrastructure bond as the guideline stipulates.

Minister of Works, Power and Housing, Mr. Babatunde Fashola recently approached pension operators to see if part of the fund could be channeled into infrastructure but was told that even the Federal Government

must meet the criteria in the guidelines.

Aside from the government, other interested investors have consistently failed to meet the requirements as stipulated in the investment guidelines.

As such, the fund has continued to be invested in zero risk investment vehicles, despite the fact that the infrastructure deficit of the country needs long-term funds for investment in the sector.

Although the guidelines clearly state the investment criteria, Financial

Vanguard's findings showed that the National Pension Commission, (PenCom) ensures that interested investors abide strictly by the law.

PenCom ensures that in the case of infrastructural investment, there must be a competitive bidding process for any contract, the bidders must be qualified to carry out the contract, there must be a time limit for completion of the contract, there must be a monitoring team to monitor the progress or otherwise of the contract, there must be experts to ascertain that the quality of products the investors purport to buy are up to standard.

Due to these oversight functions of PenCom, Nigerians have not been able to access the fund as most investors that have come forward to use part of the fund for investment are merely looking for quick profits, while PenCom on its part stands guard to ensure that pensioners’ money are not wasted on unrealistic projects.

Director-General of PenCom, Mrs. Chinelo Anohu-Amazu said, “I have always been a proponent of investment in infrastructure for a simple reason that this is one investment if handled properly would benefit both the contributors and retirees alike. The Federal Government bonds are safe but it is not something you can see and feel like infrastructure.

“When we were doing this reform in 2001/02, we were in Mexico and had gone to other South American countries where they have implemented the contributory system. We were going down a road and what we saw on the signboard on the road was ‘contributory pension fund.’ This is the kind of thing we want to see in Nigeria. Ten years down the line there is no such signboard in Nigeria and the funds are growing. Who will use the roads?

“The reason for the criteria in the guideline is to make sure that the funds are safeguarded, shrouded from the vagaries of human discrepancies and all. Countries like Singapore and Canada have utilized their pension funds effectively for their citizens. It is not something that is outlandish; the key thing is: How did that utilisation happen?

“Why are Nigerians not meeting the guidelines? What is preventing those who are looking to build things for the community from meeting the Continues on page 18

18 — Vanguard, MONDAY, MARCH 7, 2016

Cover

The Nigerian Palm oil Industry: What went wrong and the way forward (2)

P

CELEBRATION - From left, Head, Corporate Communications Division, Ayoni Trimnell; Head, Transaction and E-Banking, Rob Giles; CEO, Diamond Bank,Uzoma Dozie; Head, MSME Proposition, Njideka Esomeju and Head, Corporate Planning, Lanre Showunmi during the celebration of one millionth diamond mobile application user at Diamond Bank's head office, Lagos.

Infrastructure: Why FG, other investors can't access N5.3trn pension fund Continued from page 17 guidelines? What is preventing you from having access to the pension fund?” Anohu-Amazu queried.

“If the PFAs per chance invest in something they ought not to have invested in, it would read on its raider that instant and they have two options, either to rescind the transaction or we will take our license back, very simple. Now if we haven’t seen a lot of investment in infrastructure it is because a lot of people have not met the guidelines,” she said.

Guideline on investment of pension fund in infrastructure PenCom set the minimum value of individual projects that pension fund assets could be invested in at N5 billion.

According to PenCom, as much as 15 per cent of the total value of pension fund assets under management could be invested in infrastructure through infrastructure bonds and another 5 per cent of the total value of pension fund assets could be invested in infrastructure through infrastructure funds, making 20 per cent of the total value of accumulated pension asset.

Also, both outlets must meet the conditions for the investment of pension fund in infrastructure before PFAs could channel pension fund assets into such investments.

The pension regulator cited section 5.2.3 of the draft “Regulation on Investment of Pension Fund Assets” saying it provided that pension assets could be invested in infrastructural projects through eligible Bonds, Sukuk subject to two major conditions.

“The infrastructure project shall be not less than N5 billion C M Y K

in value and awarded to a concessionaire with good track record through an open and transparent bidding process in accordance with the due process requirements set out in the Infrastructure Concession and Regulatory Commission Act (ICRC Act) and any regulation made pursuant thereto and certified by the Infrastructure Concession and Regulatory Commission (ICRC) and approved by the Federal Executive Council (FEC),” PenCom said.

Other conditions for the investment of pension assets on infrastructure include that the project's business plans and financial projections indicate that they are viable as well as economically and financially rewarding for investment by pension funds.

The Bonds or Sukuks issued to finance the infrastructure project shall have robust credit enhancements including guarantees by the Federal Government or eligible bank/ development finance institution or MDFOs and a maturity date that precedes the expiration of the concession.

It should also have a feasible

Now if we haven’t seen a lot of investment in infrastructure it is because a lot of people have not met the guidelines

and enforceable redemption procedure in the event of project suspension, cancellation or, in the case of regulated sectors, when changes in regulatory or policy decisions make the project to differ significantly from its original financial projections.

Where infrastructure projects are financed through infrastructure funds, the value of the infrastructure fund shall not be less than N5 billion and the infrastructure fund must have a well defined and publicised investment objectives and strategy as well as disclosures of pricing of underlying assets, including any other necessary information.

All annual financial statements of the fund shall be audited by reputable firms of chartered accountants and the infrastructure fund shall have satisfactory pre-defined liquidity/exit routes such as IPO, sale to other PE Funds, Trade sale, sale to a strategic investor etc. The funds shall be managed by experienced fund managers, versed in infrastructure financing and registered with the Securities and Exchange Commission, (SEC) as fund managers.

Some other conditions for the investment of pension assets in infrastructure include that a minimum of 60 per cent of the infrastructure fund shall be invested in projects within Nigeria and where an infrastructure fund does not have development finance institutions or MDFOs as coinvestors, but the fund manager has a minimum investment manager rating of BBB issued by a rating company registered or recognised by SEC and the Continues on page 19

alm oil owes its significance in the Nigerian scheme of things to several reasons. Besides conventional uses in food-processing, every part of the tree has economic value that can be employed in a variety of lowcost activities like roofing and wickerwork. Moreover, palm oil is a source of raw material for a whole range of industries; for instance, those involved in the manufacture of detergents, pomades, confectionary fat and margarine. By virtue of this alone it offers massive scope for employment generation and income distribution, to say nothing of other diversified products like palm kernel oil. The industry has therefore been widely regarded as a high-growth business by the private sector. In countries like Malaysia and Indonesia, which together account for 90% of current global exports, palm oil has proved to be a cornerstone of industrial growth.

For Nigeria, this dynamic crop represents an economic asset of incredible potential. It also represents huge opportunities for rapid SME development as a means to economic diversification, poverty alleviation and employment generation. The palm oil industry is unquestionably vital in Abuja’s plans for accelerated growth and the establishment of a sustainable and closely interdependent economy.

Reinvigorating the industry can very well spark off the enterprise revolution that the country need to turn its fortunes around. Government intervention in this sector must hence be guided by a number of critical considerations: ? ? ? ? ?

?

? ?

Maximising productivity in existing plantations so that scattered smallholdings can be converted into viable agricultural ecosystems.

Minimising cost of production by developing highyield varieties and improving efficiency in basic processing and refining activities.

Creating effective backward and forward linkages for palm oil production and processing activities with focus on the larger domestic economy.

Directing investment at marginal farmers and cooperatives that rely on wild groves or practice mixed farming on small plantations.

Facilitating research and development, promoting public-private joint ventures and encouraging foreign investment with tax breaks and financial incentives.

Revamping distribution and marketing networks to export-orientated standards; entering bilateral counter-trade agreements to avoid high tariffs and import restrictions.

Ensuring compliance with international regulations on safety and quality of palm oil and processed products through wider use of technology.

Implementing policies to address negative social development issues; for instance, promoting backward migration from urban areas to plantations.

A total of #746 billion worth of Agricultural products was imported into the country in the third quarter of 2015, despite currency restriction imposed on manufacturers of some agricultural items. This is to encourage local products like palm oil.

Palm oil producers desire to increase their production. This could only be done by growing high yielding variety as mentioned above, improving efficiency in milling, crushing and refining and balancing the rising cost of land labour.

The Nigerian Institute for oil Palm Research (NIFOR) is now producing hybrid seedlings capable of matching Malaysian output of 4 tonnes per hecters. What is necessary now is to improve capacity to use the most modern processing techniques and also improve the infrastructure. All these will combine to boost production.

Vanguard, MONDAY, MARCH 7, 2016 — 19

I

n the early 1970’s through to the 1990’s, the Nigerian industrial horizon was dotted with textile manufacturing industries. In the Kaduna-Kano axis, one recalls with nostalgia several large textile companies employing thousands of Nigerians. It used to be an intriguing experience to be close to a textile mill. At the close of business, several employees will be trooping out of the premises of a textile company. It was like a market that has sold out all its wares.

These textile mills were using local materials that further employed millions of farmers. At the same time, Nigeria was exporting an estimated 25 to 30 per cent of production, making the industry an important earner of foreign exchange for Nigeria. At that time, instead of being a consumer of foreign exchange, the textile sector earned the country some foreign currencies that added to the build up of the nation’s external reserves.

Looking back on those golden years, the Central Bank of Nigeria (CBN)'s Annual Report for 1995 showed that out of 13 sub-sectors in the Manufacturing sector, the Textile sector (Cotton, Textile and Synthetic Fabrics) accounted for a significant proportion of the overall growth of manufacturing production.

The sector was saving a lot of foreign exchange for the country as between 60 to 70 per cent of the raw materials used in the industry were sourced locally. As the sector is labour-intensive, it provided an estimated employment of around 1,500,000 direct jobs for Nigerian markets. Domestic Garment union states that markets are facing a major more than one million people, Nigerians.

During this period, the threat from smugglers whose jobs were indirectly textile industry was at its importing cheaper textile related to the textile industry peak with 124 companies in fabrics from other countries like cotton farmers, traders, existence. But there are only and selling them at a price, suppliers etc have lost their 30 textile companies in which is lower than the market source of revenue as a result of garments of these shutdowns. existence in Nigeria today. price It is unfortunate that there manufactured locally.

This is a shocking reduction Where do these smugglers are only about 30 operational of 70 per cent. Despite the fact that global textile trade is get their foreign exchange textile mills which are running booming, these industries are from? Of course, the parallel at an average of 40 per cent of gradually diminishing in market which many Nigerians installed capacity in Nigeria Nigeria. The reason behind are now using as the reference today. The influx of cheaper this is the influx of smuggled exchange rate. This anti-social fabrics from China and India foreign textile products into behaviour has led to the has been highlighted as one the reasons for Nigerian markets. Huge closure of 90 textile mills and of quantities of both new and a layoff of about 1,500,000 underperformance in this second-hand garments from workers during the last decade. industry. Based on trade data Asian countries flood the Data quoted by a Nigerian from the National Bureau of

Nigerians used scarce forex to kill textile industry

Statistics, Nigeria spent about N24.7 billion on textile imports between July and September last year. This represented a 17 per cent decline in naira terms from the N29.8 billion recorded in the corresponding period of the previous year.

Nigeria had placed a ban on textile importation in 2010 in order to encourage domestic production. However, this led to increased smuggling.

Textiles also feature in the CBN’s circular of June 2015 specifying 41 import items for which foreign exchange from official sources is not available.

Smuggled imported textiles account for over 85 per cent of

fabrics sold locally. It is Nigerians that are buying these imported goods, killing the local industry, sending several Nigerians out of jobs while increasing the job opportunities in Asia, Europe and America by patronising their products. It is the same Nigerians that are using the country ’s scarce foreign exchange to import these goods. Yet, they bend backwards to accuse government and CBN of not making enough foreign exchange available to private sector operators.

The annual global output of textile firms is estimated at $400billion.

China’s production accounts for half of this figure. According to the CBN’s 2014 Statistical Bulletin, the value of cotton production in Nigeria contracted by -1.1 per cent year on year in 2014 and accounted for 5.1 per cent of crop production GDP in the same quarter. The Bank of Industry blames state governments’ failure to implement the National Cotton, Textile and Garment policy in their respective states for the collapse of textile companies across the country.

It is the shame of a nation that government officials from Turkey are currently visiting Nigeria and Turkey happens to be an important cotton producer and has a welldeveloped domestic textiles industry.

Maybe this government wants to learn from Turkey, how to grow cotton and develop the textile industry that was once booming in the country. Now that Nigeria is cash-strapped, anything in the name of diversification goes.

What a shame, what a pity, what a nation to weep for.

Cover Continued from page 18 fund manager shall retain a minimum investment of 3 per cent of the infrastructure fund.

Where the infrastructure fund has development finance institutions or multilateral development finance organisations as co-investors, the fund manager shall retain a minimum of 1 per cent of the infrastructure fund and the fund shall have an advisory board with independent representatives of institutional investors being in majority.

And prior to investment and during the tenor of investment C M Y K

Infrastructure: Why FG, other investors can't access N5.3trn pension fund in any infrastructure fund, PFAs are to ensure that the advisory board has responsibility over audit functions regarding the evaluation of projects prior to investment; transactions with parties related to the infrastructure fund manager and strategies concerning divestiture of investments in which the private equity fund has interests.

Way forward In order to ensure maximum

utilisation of the pension fund, PenCom is of the opinion that even before investors go ahead to float a bond, they should study the investment guidelines thoroughly.

Anohu-Amazu said, “If you are desirous of the pension fund going into your investment, study the guidelines. So that at the time you are creating that bond you are ready.

Former Director General of Lagos State Pension

Commission (LASPEC), Mr. Rotimi Hussain said that it is ideal that the pension industry left the fund strictly in the hands of pension fund administrators and custodians because they are the professionals.

He said that pension funds have been so seriously ringfenced that in over eleven years of practice there has never been a single case of fraud being reported.

Hussain said, “But it could get to a worrisome level where you

keep accumulating funds and you leave that kind of fund in low yield investment for years in a developing economy.

PenCom have laid down the investment guidelines, however, if you study the investment guidelines closely, they are stringent because the conditions are so strict.

“It is important to note that safety of the pension fund takes very high premium over and above returns. Nobody says you shouldn’t make returns but not at the risk of losing money. So the industry is not going to throw money after risky investments,” Hussain stated.

20 — Vanguard, MONDAY, MARCH 7, 2016

Business & Economy

Labour calls for presidential task-force against smuggling

By VICTOR AHIUMA-YOUNG

O

RGANISED Labour in the nation’s Textile and Garment industry has called for an all inclusive presidential taskforce not only against smuggling, but also to confiscate goods smuggled into the country.

In a statement, Issa Aremu, General Secretary of the National Union of Textile and Garment and Tailoring Workers of Nigeria, NUTGTWN and Chairman, IndustriALL Global Union, Sub Sahara Africa, said: “We are excited by President Buhari’s commitment to revive the textile industry. All the administration needs is to immediately implement the Robust Recommendations of the 2015 Cotton, Textile and Garment, CTG, policy.”

He added that as recommended in 2015, that “all military and Para-military agencies and Government schools are to purchase only Nigerian made textile and garments for their uniforms once the requisite standards are met.

In addition, he said that the private sector (schools in particular) should be encouraged to source their materials locally.

Aremu said between 30 percent and 35 percent of textile and garment manufacturing costs are energy related expenses, noting that without addressing the industry’s energy needs, the Nigeria CTG sector simply cannot develop.

FORUM - From left: Pharm Nkiru Omenyi, MD, Daruchi Products Ltd; Mr Nnamdi Okafor, May and Baker; Mrs Edith Nwachukwu, MD, Audion Pharmacy Store, Lagos and Pharm Ngozi Ezeani, Chief Pharmacist, Havana Specialist Hospital during the May and Baker 2016 Customers forum held in Lagos.

40 solid minerals awaiting development, says ABU V-C

BY NAOMI UZOR

V

ice Chancellor, Ahmadu Bello University, Prof.

Ibrahim Garba, has said that there are about 40 different kinds of solid minerals and precious metals buried in Nigerian soil waiting to be exploited.

The commercial value of Nigeria’s solid minerals has been estimated to run into hundreds of trillions of dollars, with 70 per cent of these buried in the bowels of Northern Nigeria.

The Professor stated this in his paper presentation titled; Mineral Resources and Mining in Nigeria: Investment Opportunities and Challenges’ at a seminar during the 37th Kaduna

FIIRO tasks entrepreneurs on contract production

By FRANKLIN ALLI

F

ederal Institute of Industrial Research, Oshodi (FIIRO) has enjoined entrepreneurs who have been trained by the Institute to embrace contract production scheme it has put in place in order to realize their dreams of becoming entrepreneurs.

Dr. Gloria Elemo, Director General FIIRO, made this appeal in Lagos, during the Techno-Entrepreneurship Development Training for Ubulu-Uku Youths, Delta State.

She also urged them not to mind any challenge or barrier they would face while becoming business owners C M Y K

and employers of labour.

According to the DG, acquiring the skill is just one of many steps to becoming the entrepreneur of your dream, taking a step further to starting the business is another big step.

“I can assure you that you will find tones of reasons why you cannot start now, though some of these reasons cannot be ignored totally especially start off fund.

“I want you to know that once there is a will, there will always be a way,” she said.

She also informed them that there exist collaboration between the institute and the Bank of Industry (BoI) in funding their projects, be it small, medium or large.

International Trade Fair.

He said If Nigerians were taking data seriously; we would have built a database, where we have authentic information, noting that the failure of Nigeria, since independence in 1960, to put in place a structure that will make the benefits of the exploitation of solid minerals available to all Nigerians has been the bane of the nation.

At the moment, he stressed,

mining of minerals in Nigeria accounts for only 0.3 per cent of its GDP, due to the influence of oil resources. The domestic mining industry is underdeveloped; leading to Nigeria having to import commodities it could produce domestically, such as salt or iron sheets and billets.

According to him, solid mineral deposits are scattered all over Nigeria, with more deposits in certain areas than

others. Over 40 million tonnes of talc deposits have been identified in Niger, Osun, Kogi, Ogun and Kaduna states. There are huge deposits of coal ranging from bituminous to lignite in the Anambra Basin of SouthEastern Nigeria.

He noted that the low activity in the solid mineral sector is not yielding the desired financial benefit as there are no records of payment of taxes and royalty to the government.

Nigeria is losing lots of resources from untapped mineral deposit as well as from the little that is being mined mostly by illegal miners who smuggle the products out of the country.

“Despite the fact that Gold and Barites were being mined across the nation, there is no record to show that these minerals are among the mined or exported minerals. Further finding shows that barites are mined in Benue and Nasarawa states, despite high activities of miners there are no record of royalty payments.

“From the available records of the Ministry of Mines and Steel Development, there was no evidence of royalty payment on these exported minerals. The Nigeria Minerals and Mining Act 2007 requires that any exporter of solid minerals must request for permit to export minerals.

But in defiance to the Act, there was no available evidence of request for permit or approval to export minerals by the companies,” he stated.

Climate change, major challenge to agriculture development — DON

By NKIRUKA NNOROM

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limate change has been described as the greatest challenge of all times for humanity, with potentially huge, negative consequences for agriculture.

This assertion was made by Professor Francis Adesina of the Department of Geography, Obafemi Awolowo University, Ile-Ife, Osun State, while delivering a lecture on the topic, ‘Some Thoughts on Climate Change, Agriculture,’ at the British American Tobacco Nigeria Foundation (BATNF) Implementing Partners workshop.

Professor Adesina noted that the impact of climate change is felt most on “exposed systems, “which he said include rain-fed agriculture.

He traced the genesis of global warming to 1880, noting that successive years since the 19th Century have been hotter, with 2015 being the hottest year. He regretted that Nigeria and other developing countries are most susceptible to the harsh effects of climate change due to poor water storage system, which he said has grave implication for agriculture.

“Considering the very high consumption of rice in Nigeria, nowadays, if you must control climate change, one of the crops you need to control is rice because of its high water demand,” he said, while emphasizing the need for farmers to be climate smart.

He noted further that climate change signs are evident and cited the example of the absence of an August break in 2015.

Earlier in his address, a BATNF Technical Committee member, Prof Chidi Ibe, reiterated the need for farmers to develop the capability to adapt to climate change.

One of the achievements of climate change adaptation, he noted, is the development of a drought resistant rice variety.

Other contributors to the climate change discourse also called for greater agricultural water management programme and the development of a water harvesting culture.

The Implementing Partners were also advised to regularly access information from the Nigerian Metrological Agency (NIMET) and interface with farmers in disseminating information on climate change. A case was also made for the proper inspection of beneficiary farmers by the Implementing Partners in some of the BATNF crop enterprise implementation projects to ensure greater compliance.

Vanguard, MONDAY, MARCH 7, 2016 — 21

Re: Devaluation: IMF versus Buhari — Henry Boyo’s ranting

By BAKARE ADEMOLA

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he respected economist, Mr. Henry Boyo has never ceased to amuse me with his numerous commentaries in both electronic and print media. He has taken so much pleasure and relish in every opportunity given to him by the media to unleash his

acerbic commentaries on the Nigeria’s apex bank – the CBN. As if it was orchestrated media appearance, the above titled caption at the back of The Punch and Vanguard newspapers edition of Monday, February 29, 2016 and on the popular Sunrise Daily broadcast programme of the Channels Television of same day, the renowned economist and

characteristic of him since I have been reading his opposing views of virtually every of the CBN monetary policies dated back to Chief Joseph Sanusi’s days as the Governor of the Bank to the present leadership sounded as a rehash of his usual playing of the broken record of excess liquidity in the system as the intractable problem of the

fate of the naira and the economy.

Though I had once taken the respected old war horse on sometime last year on one of his unpatriotic and selfish comment on the management of the economy, particularly when the apex bank suspended 41 items from it FOREX shop.

However, I would have ignored him knowing

him for who he is, but the uncontrollable visible the anger on his face when Maupe Ogun, one of the anchors of the programme asked him what he would have done better with his acerbic criticisms of CBN’s monetary policies, if he was in the saddle as the governor of the bank. Mr. Boyo responded almost jumping out of his seat thus, “it is a common sense thing”, and you the media have been sold lies over time and have become culprits in the mismanagement of economy ”. Watching him in my view proffers no reasonable solution but his ritual ranting inability of every CBN governor to arrest the menace of excess liquidity in the economy which he claimed was a deliberate scam being perpetrated by the Bank.

Also in his back page write up column of the above named newspapers, he was quoted - “Indeed, if the IMF team sincerely expects sustainable inclusive growth for Nigeria, there is no way they would have failed to examine the persistent cause of the systemic surplus naira, which forces the CBN to regularly commit to reckless. Some would say fraudulent, financial mismanagement to fight inflation when it compulsively sets to restrain borrowing and consumer demand by marginally reducing the persistent irrepressible liquidity challenge, with unreasonably high interest rate paid on funds which CBN borrows and simply stores as sterile and idle deposits”. In my view, there seems to be a disconnect between policies and expected economic gains which is not the fault of the managers at the apex bank, but the efforts of the fifth columnist in the economy, the speculator who engages in round tripping in order to short change the financial system. Even when the IMF team visited, led by its Managing Director, Ms. Christine Largade, they acknowledged the

efforts of the CBN and the federal government for what they have done in the economy, and observed that if the Nigeria can fix some noticeable structural defects in the system, Nigeria would be one of the best economies the st 21 century is waiting for. But rather than Mr. Boyo joining hands to applaud the CBN as done by the Bretton Wood institution ventilated his frustration on the IMF for closing its eyes on what he called ‘CBN distortional monopoly of dollar supply and serial naira devaluation …’ While I agree with him and many other commentators that devaluation will not help Nigeria at this moment, the clamour for diversification of the economy to make Nigeria competitive internationally is what we all should join hands with the CBN and the federal government to bring to fruition what we have mouthed for decades, rather than rubbishing every effort of the economic managers.

This is not to say that Mr. Boyo’s commentaries are valueless or unpatriotic, but he would have employed a better and more dignified ways to get his views across to those in authority instead of trading them at the market place for reasons best known to him. It diminishes his stature and the values he stands for.

If he has been threading a more dignified path, those in authority, past and present, would not have ignored him. He would have been invited into government to contribute and practice what he preaches, but surprisingly no one has found him useful. If he ever wanted the position of the governor of the apex bank, there are more honourable and dignified ways to achieve this purpose than running down or impugning the integrity of those God has placed in those positions of authority.

The Holy Scripture admonished that ‘promotion comes from above’, not by intelligence nor might and those he has promoted must be supported not to be pulled down.

Send your reactions to: news@vanguardngr.com C M Y K

22 — Vanguard, MONDAY, MARCH 7, 2016

Banking & Finance

Industrialist writes Buhari, proposes N15trn collateral bank

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oncerned about the country ’s gnawing economic challenges, the Group Managing Director of CFL Group of Companies, Mr. Lai Omotola at the weekend proposed the establishment of Collateral Bank, which he said, could help over 10 million businesses access capital.

Omotola, an infrastructure development financier, argued that the establishment of the bank became imperative “to unlock access to capital by businesses and entrepreneurs in Nigeria.”

He advocated the establishment of the collateral bank in a letter he addressed to President Muhammadu Buhari and the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele on February 29.

In a two-page document he personally signed, the chief executive lamented diverse difficulties the lack of collateral securities had created for businesses, entrepreneurs and high-net individuals in the country, which he said, had contributed “to our prevailing economic crisis.”

Omotola cited the case of various intervention funds that the CBN “has provided for different sectors of the economy.” He also cited the case of thousands of individuals, who have beautiful business plans, but could not access capital to execute their business plan.

He thus said the need to provide collateral securities to access either the funds or business capital “has remained a huge challenge.

This is not only for the intervention fund, but also the bank loan and other capital.”

The chief executive therefore noted that the market for the collateral bank “is estimated at N15 trillion. If fully harnessed, it can be a panacea for unlocking capital for the economic growth of Nigeria.”

He further explained the market worth of the collateral bank, noting that the country ’s total exposure of banks, governments and organised private sectors to capital “is N12 trillion.

Currently, we do not have up to 10 percent people and businesses that should have access to capital.”

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Access Bank: Fitch upgrade for strong risk management

BY BABAJIDE KOMOLAFE

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t a time when the Nigerian banking industry is showing signs of weakness in risk management practices as reflected in resurgence of huge non performing loans, Fitch Ratings have commended Access Bank for its ‘strong risk management’, and thus upgraded the bank’s rating to long-term National Ratings to “A” from “A-” with a stable outlook.

The rating upgrade according to Fitch is a reflection of the improvement in the creditworthiness of Access Bank over time relative to peers and to the best credits in Nigeria.

Announcing the rating upgrade, the company stated, “Fitch Ratings, a global leader in credit ratings and research, has affirmed the Long-term IDRs of Access Bank Plc (Access) and upgraded the National Ratings. The National Rating of the Bank has been upgraded to ‘A(nga)’/ ‘F1(nga)’ from ‘A-(nga)’/ ‘F2(nga)’ to reflect the improvement in creditworthiness over time relative to peers and to the best credits in Nigeria.

“In Fitch’s opinion, banks will continue to face multiple threats in the course of 2016, particularly from tight foreign currency liquidity, worsening asset quality and pressure on regulatory capital ratios. However, Access’ Viability Rating (VR) is affirmed as these risks are to a large extent already captured in the ratings.

“Access Bank’s major strengths, which underpin its long and short-term ratings, include its size and franchise, its strong risk management and the group’s solid capitalization.

The bank’s improved rating further reinforces its resolve to deliver leading innovative and differentiated products and services to its customers in its quest to become the world’s most respected African bank by 2017.”

The upgrade corroborates feedbacks from Renaissance Capital’s visits to Nigerian Banks under its Client group trip to Nigeria, which stated “Overall, Access Bank came across as being the most on top of risk management”.

ASSEMBLY- From left: Mr. Olalekan Akodu, Permanent Secretary, Ministry of Commerce, Industry and Cooperatives; Prince Rotimi Ogunleye, Honourable Commissioner for Commerce, Industry & Cooperatives: Hon. Oladele Adekanye, Chairman, House Committee on Commerce, Industry & Cooperatives and Chief (Mrs.) Nike Akande, President, Lagos Chamber of Commerce and Industry at the 5th Lagos Corporate Assembly held recently in Alausa, Ikeja.

Navigating economic headwinds

While the rating is an endorsement of the strong risk management, corporate governance and procedures of Access Bank, it is also significant, given the concerns over the Nigerian economy fuelled by dwindling revenue from oil, decline in external reserves and apprehension over the value of the nation’s currency, all occasioned by the 70 percent decline in price of crude oil. Given the ubiquity of government spending in the Nigerian economy, the fall in oil revenue has triggered doubts over governments ability to fund its budget and hence possibility of further slowdown in economic activities. The Fitch upgrade however indicates that Access Bank is able to effectively manage all the anticipated risk associated with these economic headwinds, and still remain profitable.

Improved Earnings, Asset Quality and Efficiency

This is reflected in the bank’s operating results for the third quarter ending 30th September 2015. The results showed that Access Bank, despite economic pressures, was able to increase its earnings, grow its balance sheet size, and improved its Asset quality as well as its operational efficiency.

According to the bank, gross earnings increased year-onyear by 42 percent to N258 billion from N182 billion recorded nine months ended September 2014. Profit before tax and profit after tax rose by

43 percent and 34 percent to N60 billion and N48 billion respectively from N42 billion and N35 billion in 2014. Total Assets grew to N2.4 trillion, up by 14 percent compared to N2.1 trillion as at end of 2014.

Reflecting improved asset quality, Credit quality improved in the third quarter of 2015 as the percentage of non-performing loans to total gross loans was recorded at 1.7 percent, a 50 basis points (bps) decrease from 2.2 percent as at December 2014; while Coverage Ratio (with regulatory risk reserve) increased to 196 percent in Q1 2015 from 154 percent as at December 2014.

Impairment charges increased to ¦ 11.6 billion from ¦ 7.0 billion in 9M 2014, with a corresponding rise in cost of risk at 0.8 percent from the same period in 2014 (9M 2014: 0.4 percent) largely incurred by collective impairment recognized on medium to large sized exposures following the reassessment of loans, on the back of prevalent macro-economic conditions.

In terms of operational efficiency, the bank recorded Net Interest Margin (NIM) of 5.9 percent in nine months ended September 2015, up from 5.6 percent in Q2 2015, reflective of improved yield on assets on a quarter-onquarter basis. Cost of Funds increased by 90bps y/y to 5.4 from 4.5 percent in 9M 2014 but improved by 40bps on a q/q basis (Q2 2015: 5.8 percent ); reflective of the continued high interest rate environment. Cost to Income Ratio (CIR) was recorded at 59.6 percent, down 160bps from 61.2 percent in 9M 2015, supported by strong revenue growth during the period.

In addition to showing the

resilience of Assess Bank, the results, also show the emergence of the bank as the 3rd largest bank in all indices, and its steady accent to becoming largest bank in the country.

Commenting on the results, Group Managing Director/ Chief Executive, Access Bank PLC, Mr. Herbert Wigwe, said, “The Bank continues to maintain strong growth in earnings reflecting our commitment to deliver on our objectives for 2015. The Group posted a PBT of ¦ 60bn (Sep’14: ¦ 42bn), in spite of the significant policy headwinds in the first nine months of the year.

“We continue to invest in technology, enhance our processes and improve service delivery whilst reducing cost as we deploy simple and efficient digital solutions to meet the needs of our customers. The recent upgrade of our core banking applications will act as catalyst for the sustainable growth of our retail base and deepen our share in key focus market segments”.

Since its transformation in 2002, Access bank has grown into, with a network of 364 branches and service outlets located in major centres across Nigeria, Sub Saharan Africa and the United Kingdom.

Ranked amongst Africa’s top 20 banks by total assets and capital in 2015, Access Bank is a financial powerhouse which has consistently defied industry and economic challenges to create value for stakeholders and benefits for customers.

The bank under its current leadership is poised to continue with its rich history of accomplishments.

Vanguard, MONDAY, MARCH 7, 2016 — 23

Corporate Finance

BY PETER EGWUATU

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itafoam Nigeria Plc has commenced measures of reducing operating cost to boost profitability and enhance shareholders’ value.

The company has noted that it has almost concluded arrangements to commence production of oil filters and allied motor spare parts through its newly established subsidiary.

Addressing shareholders at the company’s Annual General Meeting (AGM) in Lagos, the Chairman, Dr. Dele Makanjuola explained that the on-going inclement operating environment had forced the company’s Board and Management to embark on cost saving initiative in order to sustain the company’s competitive edge.

Makanjuola who reviewed the current challenges facing manufacturing firms in Nigeria stated that Vitafoam was able to remain profitable due to the prudent approach towards management of human and material resources: “The foam business is operating in a very competitive environment.

There are over 300 manufacturers. It is stressful to operate in the foam industry.

As professionals, we have tried to keep administrative and financial cost under control. This prudent approach enabled us to generate profits and declared dividend. of 25

Stanbic IBTC highlights opportunities in new banking solutions

By NKIRUKA NNOROM

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AGM: From left: Company Secretary, Vitafoam Nigeria Plc, Mr. Olalekan Sanni; Chairman, Dr. Bamidele Makanjuola; and Group Managing Director, Mr. Taiwo Adeniyi, at the Annual General Meeting, AGM of Vitafoam in Lagos.

Vitafoam embarks on cost reduction measures to boost profitability kobo per share in an environment where many companies are closing business. We were able to achieve this feat despite the high cost of operation because of our careful management practice. “ As we try to control our cost, we have decided to limit our exposure to our

subsidiaries to a maximum of 40 percent. This is expected to relieve us of financial burden of 100 per cent ownership. We can always raise 60 percent equity through private placement. “ We have almost concluded plan to commence production of oil filter in our new subsidiary . As for Vono

Niger Delta E&P pledges enhanced dividend payment to investors

By NKIRUKA NNOROM &

N

iger Delta Exploration

Production (NDE&P) Plc listed on NASD OTC Plc, an over-the-counter securities exchange, has assured its shareholders of enhanced dividend payment in the coming years, even as it has revealed plans to raise $400 million from the domestic capital market.

Speaking at NASD OTC Market analysts forum and conference call in Lagos, the Managing Director/CEO, Dr. Layi Fatona, said the company has consistently paid dividend in the last eight years, in addition to enjoying 10 years of uninterrupted oil and gas production in the country.

He said: “For our shareholders, there has been substantial value add. We have successfully and consistently paid dividend in the last eight years and for those of our shareholders who actually know us, I think C M Y K

waiting for our dividend is an annual ritual at our Annual General Meetings (AGMs).

“So when you put all these characteristics of the company; producing oil, producing gas, processing oil and processing gas, I think we truly qualify to be described as a fully integrated Nigerian independent oil and gas company.”

On the fresh capital raise, he stated that the company has commenced raising $100 million, while raising of the remaining $300 million would start on conclusion of the first phase in the next couple of weeks.

According to him, the fund raising exercise would enable the company to reposition by increasing its refining capacity from 1,000 barrels per day to 5,000 barrels per day. It would also enable it to acquire new assets and capitalize on its gas producing ability.

“As Oil Company, our appetite for money is voracious, and three years ago, we ended up in N600 million

transactions, buying 45 per cent divested interest of Shell, Total and Agip from one of the oil and gas producing assets, west of the Niger Delta. So, few years ago, we decided that for us to continue this kind of investment, we need very significant wallet, and we decided that with the authorization of our shareholders, we will raise some $400 million dollars,” Fatona explained.

Laying the company’s 2015 results before the analysts, Mr. Deji West, Group Chief Operating Officer, NDE&P Plc, explained that the company had a tough year in 2015, but noted that measures are being put in place to cushion the losses in current financial year.

Speaking at the event, Mr. Bola Ajomale, Managing Director, NASD OTC Plc, said the markets analyst forum is in line with the Exchange’s tradition of promoting a transparent market. He noted that NDE&P has been trading on its platform for the two years.

Products, we shall keep the brand. We have gone to the Corporate Affairs Commission (CAC) to ensure that the brand is not taken away” Makanjuola said.

Corroborating him, the Group Managing Director, MrTaiwo Adeniyi said that the decision to float a new subsidiary, Vitaparts Nigeria Limited was to provide products for motor spare parts which is in high demand. We shall enjoy pioneer status in the country as there is no manufacturer of these parts yet in the country.

Adeniyi who assured the shareholders of higher value lamented the effects of forex scarcity and imported raw materials on the production of foams in Nigeria .He however expressed optimism that Vitafoam would continue to operate optimally as measures have been put in place to strengthen the company’s operations with cost saving approach.

Many shareholders commended the company’s board and management for the good performance in spite of the tough business environment while some advised for more cost control measures.

In giving assurance of continuous improved performance, the Makanjuola declare that: “Despite this uncertain disturbing outlook, our company will remain resolute in the implementation of nascent strategies that will enable the harvesting of lowhanging opportunities in the economy to improve growth prospects across several markets.”

tanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, has launched a nationwide campaign that offers bespoke financial solutions to help individuals and businesses achieve their aspirations.

Tagged Switch, the campaign aims at encouraging individuals and businesses to harness vast opportunities embedded in Stanbic IBTC Bank’s bouquet of products such as its salary or business accounts.

Speaking at the launch in Lagos, Executive Director, Personal and Business Banking, Stanbic IBTC Bank, Mr. Babatunde Macaulay, said the need to enrich the banking experience of Nigerians necessitated the launch.

According to him, the financial needs of today’s bank customer are very dynamic and as a result, there is a constant demand for financial solutions that address specific needs in real time. The expertise and experience of the Stanbic IBTC Group across the spectrum of financial services ensure that the bank is able to provide solutions that meet and exceed such needs, Macaulay said.

“The Switch campaign is aimed at ensuring that Nigerians enjoy the best financial services experience. At Stanbic IBTC, we fully understand the need by banking customers for quality and timely financial solutions at minimal cost, and we constantly strive to provide innovative banking solutions tailored to those needs,” Macaulay said.

The bank highlighted some of the benefits an individual stands to gain by switching a salary account to Stanbic IBTC Bank to include: access to 55 days interest free credit card, the best in the market now; access to up to 100% of salary advance; best rates on international spend on debit cards; access to personal loans; a dedicated relationship manager that will ensure the customer ’s needs are attended to promptly; and access to internet and mobile banking.

24 — Vanguard, MONDAY, MARCH 7, 2016

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Vanguard, MONDAY, MARCH 7, 2016 — 25

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26 — Vanguard, MONDAY, MARCH 7, 2016

Homes & Housing Finance Stories by YINKA KOLAWOLE, with agency report

Another US mortgage crisis looming

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he U.S. could be headed for a new mortgage crisis by this summer, Richard X. Bove, Vice President of Equity Research at Rafferty Capital Markets, said in a report.

Bove highlighted how much control the government now has over the nation’s mortgage markets and explained how this could be a recipe for disaster. He pointed out that the U.S. government now insures one-fourth of all new residential mortgage loans and purchases one-sixth of all residential mortgage loans issued.

Further, governmentsponsored enterprises Fannie May, Freddie Mac and Ginnie Mae own or ensure three-fifths of all current outstanding mortgages in the country, and the problem is getting worse and worse every quarter, he said.

APBN seeks improvement in housing

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resident, Association of Professional Bodies of Nigeria (APBN) Mr. Foluso Fasoto has called on the federal government to improve the housing development in the country to ensure access to habitable and affordable housing by Nigerians.

Fasoto stated this in Abuja during the Board meeting of the professional bodies comprising presidents of 28 professional bodies and State chapters of Chairmen of APBN. He debunked claims that the drop in price of oil in the international market would affect housing development.

He maintained that members of APBN in the built sector was collaborating with representatives of the federal government to improve housing delivery in line with global standard adding that the public would soon appreciate their efforts towards sustainable housing delivery.

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he foreign exchange crisis currently rocking the Nigerian economy has rendered most ongoing construction projects in the country unviable, according to the Federation of Construction Industry (FOCI), the employer organisation for building and civil engineering contractors, sub-contractors, as well as plant and equipment suppliers in Nigeria.

FOCI disclosed in a statement jointly signed by its president and Director General, Mr. Solomon Ogunbusola and Mrs. Olubunmi Adekoje, respectively, that the state of the construction industry requires urgent intervention, and therefore called on the federal government set up a bail-out fund to rescue the industry.

“Most projects were awarded when the exchange rate was $1 to N165.00.

However, the current exchange rate of $1 to about N400 has rendered the projects non-viable and totally unprofitable.

The depreciation of the naira against the dollar has led to

A private bungalow under construction

Forex crisis renders construction projects unviable —FOCI serious difficulties in procurement of machinery, spare parts and payment of experts for specialised assignments. Construction companies have been forced to leave construction sites due to lack of funds. This leads to challenges in payment of

workers’ salaries and parking of capital intensive construction equipment. The parked construction equipment are depreciating faster due to non-usage and are at a risk of being rendered obsolete.

“To compound the

Property eviction: The rights of a landlord

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t is generally believed that landlords are belligerent, troublesome people who lord their properties over tenants and try to make life uncomfortable for them but this is not always true. Just as tenants have been at the mercy of landlords, landlords have also been treated with contempt and maligned by tenants.

Frustrated with tenants who refuse to pay rent, damage their properties and cause conflicts amongst other tenants, landlords are often faced with the option of ejecting such a tenant. There are however rules by law that must be followed and a landlord needs to know these rules so as not to be in err of the law.

By law, it is wrong for a landlord to forcibly eject a tenant no matter how much rent he or she owes or how cantankerous such a tenant is.

The recovery of property by law in most states in Nigeria and anywhere in the world really unfortunately for landlords is in the favour of the tenant. This is done by the different law-making bodies of the states to curb the excesses of landlords and ensure that tenants are not entirely at their mercy to be treated anyhow. A landlord who

therefore wishes to eject his tenant for whatever reason must use the method prescribed by law.

The law states that a landlord must give his tenant reasonable time to vacate the property by serving him a quit notice and this is dependent on the tenancy period. For a yearly tenant, the law provides that he must be given a six months quit notice, a quarterly tenant - a quarter’s notice, monthly tenant - a month’s notice and a weekly tenant - a week’s notice. The quit notice must be written and served on the tenant.

These provisions are however subject to the tenancy agreement between the tenant and the landlord. In a case where it is expressly stated in the tenancy agreement that no

A landlord must give his tenant reasonable time to vacate the property by serving him a quit notice and this is dependent on the tenancy period

notice will be given to the tenant, the landlord can go ahead and eject such a person without notice as long as the tenant duly executed the tenancy agreement.

In the case where a quit notice has been served and the tenant still refuses to vacate the property after the notice has elapsed, the law still does not permit the landlord to take matters into his hand and forcibly evict the tenant. Rather, the law expects another seven days notice of owner’s intention to recover property to be served. This notice is usually from the landlord’s Lawyer or Agent’s Legal Unit, informing the tenant his intention of proceeding to court to recover the property on behalf of the landlord. It is important to note that this seven days notice of owner’s intention to recover property can only be served on a tenant after the expiration of a valid “Notice to Quit”. If served before a notice to quit or during the life span of a notice to quit, it is invalid and discredited. Also, this seven days notice is counted seven days from the date the notice is served. If it is less, the court will most likely reject its validity. *Culled from Nigeria Real Estate Hub

challenges, workers in the industry are agitating for upward review of the conditions of service. This is despite the fact that about 75 percent of the workers have been laid off while the remaining 25 percent are being maintained on high interest loans rate from the commercial banks”, the group stated. To effectively tackle the challenges, FOCI therefore appealed to government “for an urgent bail-out and quick intervention so that workers who have not received salaries for some months can be paid and members can return to sites to resume their operations before the fast approaching rainy season.”

According to FOCI, many players within the industry have been forced to close their firms, compounded by over N600 billion Federal and state governments’ indebtedness to its members. The contractors asserted budgetary allocation alone is not adequate to meet the industry’s financial needs, hence their call for direct intervention to solve the debt problem.

“FOCI expected that by now things would have improved; however, it is disheartening to note that the debt profile has continued to rise since all tiers of government have been unable to pay their debts.

FOCI fears that if the Government has to rely on only budgetary allocation without direct intervention into the debt owed the construction industry, the construction industry in Nigeria could be moving towards a total collapse,” the group added.

Vanguard, MONDAY, MARCH 7, 2016 — 27

Insurance

Insurance operators lament impact of forex crisis

By ROSEMARY ONUOHA

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s the economy of the country continues to witness challenges due to the fluctuations in foreign exchange rate, insurance practitioners have said that the situation is having adverse effects on insurance business.

Managing Director of Universal Insurance Plc, Mr. Ben Ujoatuonu said that insurance is an international business as such the marine aspect of insurance business is being affected because importation is at its lowest ebb.

Ujoatuonu said, “Because of the problem of exchange rate, every insurance company is feeling the brunt in the hype in exchange rate and it has affected the marine aspect of our business. Of course every other person within the society is feeling the heat of the economic situation and because insurance business is not insulated, the insurance business will feel the heat as well.”

Also President of the Nigerian Council of Registered Insurance Brokers, Mr. Kayode Okunoren said that it is most disheartening that the value of the naira has continued to take a downward plunge against the dollar, pound sterling and other currencies, to the detriment of the nation’s economy.

Okunoren said, “The resultant effect of this is negative on the nation’s economic revival efforts. Aside from the possibility of stagnating industrial development and favourable trade, the situation is already causing increasing inflationary rate that is affecting the common man in the street. The mono economy has left the country helpless, considering also the continuous downward slide in the price of crude oil in the international market, upstaging the budgetary

anticipations of government.

Definitely, the insurance industry is not insulated from these grievous indices of economic recession. It is a tough time we must all admit.

“As a critical stakeholder in the nation’s economy, it is our take that the present situation serves as a good avenue for government to begin to pay more emphasis to diversification of the nation’s economic

nsurance Brokers under the aegis of the Nigerian Council of Registered Insurance Brokers (NCRIB) have joined scores of other Nigerians in sharing the grief of the Nigerian Film Industry over the demise of no fewer than four of its brightest actors and actress within the last one month.

The actors included Mike Odiachi, Sikiru Adesina, popularly known as Arakangudu, Festus Aguebor as well as a Kano based actress of Kannywood (Kano sub sector), Aisha Dankano.

President of NCRIB, Mr. C M Y K

definitely a period that calls for sacrifice on the part of all Nigerians, including the leadership, if the present crusade would achieve long lasting positive results. I whole heartedly align myself with the timeless wisdom that “to be successful as an individual or a nation, you must decide exactly what you want to accomplish, and then resolve to pay the price,” Okunoren said.

VISIT — From left: Chief Pilot, Arik Air, Captain Adetokunbo Adekunbi; Deputy Managing Director, Arik Air Captain Ado Sanusi and Governor of Kaduna State, Nasir El-Rufai during Kaduna Governor's visit to Arik Headquarters in Lagos.

Stanbic IBTC insurance brokers begins operations

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tanbic IBTC Insurance Brokers is set to provide bespoke risk management and insurance services in Nigeria.

The company announced that it has commenced full operations sequel to the granting of a licence by the National Insurance Commission (NAICOM) in January 2016, paving the way for the firm to offer the full spectrum of insurance brokerage services, a development that will help in deepening insurance penetration in Africa’s largest

Brokers sympathise with movie industry

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mainstay from oil, as we have had till now. There must be a re-tuning of the minds of Nigerians from rabid consumption of foreign goods and services at the expense of those produced locally. Also, the penchant for luxuries has to be curtailed so as to preserve the nation’s available meager foreign monetary reserve for the essentials, rather than fritter them on irrelevances. It is

Kayode Okunoren, said the Council described the death of four prominent actors within a month as a colossal loss to the nation. The Council lamented that the actors who had liven up the entertainment space had departed at a time when their values was most desired in the country.

While praying for the repose of the souls of the departed, the NCRIB lamented the poor acceptance of insurance by the actors, a situation that usually leave the families in precarious financial state after the painful of their loved ones and bread winners.

economy.

According to the broker, global best practice, including facilitatory prompt payment of claims, will underline the operations of Stanbic IBTC Insurance Brokers as the insurance brokerage firm enters the Nigerian market.

Part of the Stanbic IBTC Group, which has a clear focus on corporate and investment banking, personal and business banking and wealth management, the new business broadens the scope of financial services offered by the group while widening its holding company structure.

Chief Executive of Stanbic IBTC Insurance Brokers, Mr. Anselem Igbo, said the business was established to fill perceived gaps in the industry, part of which includes helping clients effectively manage their risks and claims processes, thereby ensuring peace of mind through risk transfer, efficient insurance claims payment and exceptional quality of service.

On claims management, Igbo stated, “We believe that the test of any insurance arrangement is in prosecuting claims to a satisfactory conclusion for our clients. Our role as brokers also ensures that insurers, as a

matter of obligation, pay claims equitably and promptly. Prompt payment of claims is a key factor in any insurance contract.

We continuously develop key relationships and requisite logistical processes to ensure that your claims are promptly settled.” Whilst benefiting from a strong, dynamic and vast group structure, Igbo said the company will be differentiated from the competition as it will be driven by a team of reputable and financially strong underwriters; fully customized solutions, and innovative insurance products at no additional cost to the client.

“Stanbic IBTC Insurance Brokers’ professional services are at no additional cost. We will negotiate your insurance premiums and get the best quotes available,” Igbo said.

“Our services apply to both individuals and corporate entities. Our services are also offered to both existing customers and non-customers of the group. As insurance professionals with a vast knowledge of the workings of the insurance market, we are able to arrange the most suitable policies for our individual and corporate clients.

Workplace unveils initiative to benefit businesses

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orkplace Plus Limited, operators of the Regus franchise in West Africa, has unveiled a cluster initiative that will offer Small and Medium Enterprises (SME’s) the benefit of maximizing profit in Nigeria’s current harsh economic environment.

The initiative, which is the first of its kind, brings companies under one operating environment with the necessary infrastructures that will enhance business development.

Speaking about the initiative, Executive Chairman of the company, Ayo Akinmade explained that the firm which was registered in Nigeria in 2003, engages in the business of providing infrastructure to support companies to carry out their businesses seamlessly in Lagos, Abuja, Port Harcourt and Accra Ghana.

According to him, we provide representative offices for corporate bodies, organisations and individuals, with fully furnished and equipped short stay office accommodations.

We also provide conferencing services to corporate bodies and organisations. Our clients, including many multinational companies, are some of the most respected names in the world.

Akinmade noted that one of the challenges of business operations in Nigeria is inadequate provision of infrastructure which include, electricity, information technology and a conducive working environment to facilitate business contacts, development and capacity to promote efficiency.

He said the company is the largest provider of virtual office space in Nigeria, providing over 150 customers with office and related facilities from grade- A buildings.

Giving further insight into the initiative, the Executive Chairman stated that Regus Virtual Office provides best possible first impression to clients as well as offering a great corporate image at a fraction of the cost of running an individual office.

Describing the initiative as cost saving for entrepreneurs, he said, “Our business is to make sure that you focus 100% on your core business. Our friendly and professional team will answer your dedicated number in your company name, take and pass on your messages in the way you choose ad give your business the due representation”.

28 — Vanguard, MONDAY, MARCH 7, 2016

People in Business

Food expo showcases opportunities in Nigeria's growing food market

By Nkiruka Nnorom

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ver 150 international companies in food and beverage sector from around the globe will have the opportunity of experiencing first-hand, opportunities in Nigeria’s growing food market at the forthcoming Food Nigeria exhibition.

The companies will represent more than 20 country pavilions welcoming an expected 6,000 attendees.

The event being organised

by Informa Life Sciences Exhibitions is supported by the Association of Food Vendors in Nigeria (AFVN), the National Agency for Food and Drug Administration and Control (NAFDAC), is scheduled to kick-off 18-20 May, 2016 in Lagos.

The event will provide a platform for international and regional food and beverage companies to network and cultivate business ties in the country.

“Food Nigeria is a businessto-business platform promoting supply chain partnership along with imports and exports.

Participants who will come from Nigeria and West Africa, will benefit from meeting industry leaders from regional and international organisations, showcasing an extensive range of the latest products and services,” says Jamie Hill, Director, Informa Life Sciences Group, Africa.

McKinsey Global Institute reported in July 2015, Nigeria’s consumption could rise to $1.4 trillion every year by 2030, at an average annual increase of eight per cent. This rise in consumption will likely be driven by higher income levels, significantly expanding the middle-income bracket.

This increased affluence is expected to result in 7.1 per cent annual growth in sales of food and non-food consumer goods.

“It is important to recognise the opportunities currently present in the Nigerian market.

By organising Food Nigeria, we aim to provide an opportunity to support the growing market and host international and regional food brands to build business ties.

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Challenges bring out the best in humans — UMOEFIK

BY EBELE ORAKPO & VERA SAMUEL ANYAGAFU

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r Mbetobong Umoefik is the Managing Director/Chief Executive Officer of Port Harcourtbased Pride Garments Company (PGC), an outfit that specialises in industrial work-clothes & Personal protective Equipment (PPE), skills training, bulk production and consultancy.

In this chat with Financial Vanguard, the University of Port Harcourt Management student, speaks on why he got into his line of business, the challenges and says influx of foreign products does not really pose a challenge to him. Excerpts: Upon completing his secondary school education at the School of Arts & Science, Uyo, Akwa Ibom State, Umoefik attended training courses in textile and fashion design in Europe and Asia.

Going into business: According to Umoefik, he got into the business because of interest, an interest born out of his desire to make his own clothes by himself and avoid problems with tailors.

"I developed interest in the business, first of all, to be able to make my own dress by myself since it was always difficult to get a tailor to make your dress when you want it.

There was a brother who was doing the business at home and when I completed my secondary education, I used the opportunity to learn."

Fast learner: "Within a week, I was able to sew a pair of trousers and a bed sheet for myself.

Although the brother did not like me using his machine for the fear of damage since I was not proficient, but when he realised how fast I was to understand the skills without guidance, he decided to guide me through the skills and show me how to use the sewing machine.

"The more I learnt, the more the passion increased and making dresses for people became my desire despite the fact that I didn’t want to learn the skills for profit-making.

I was actually waiting for university admission that did not come for so many years, and at this point, I saw opportunities in the business and that was how I settled for

I developed interest in the business, first of all, to be able to make my own dress since it was always difficult to get a tailor to make your dress when you want it this line of business," he said.

Start-up capital: "This type of business doesn’t really need start-up capital.

When it was time to start my own business, I hired a secondhand sewing machine from a neighbour and my mother also got one for me. My parents paid the rent for the house we were living and gave me one room to live in but it was this room that I used for the business.

In 2012, this business won the prestigious Presidential Award of Youth Enterprise with Innovation in Nigeria (YouWiN).

Challenges: Every business has its challenges and these challenges vary from one level of the business to another.

Even now, there are still challenges but where there is a will, there is a way.

Most of the challenges deal with skills upgrade, expansion and product improvement but the other challenges such as power, raw materials, influx of foreign products into the country, etc., does not really pose a challenge to me since they are beyond my powers so I do my business as though such challenges do not exist."

Staff strength: "The staff capacity for the business is 50 persons but you cannot operate on this capacity for a long time except you have production orders that can sustain such payroll. So the actual staff strength depends on the size of responsibility at a given time.

"When we have many orders, we increase and when the orders are less, we downsize the labour force.

*Mbetobong Umoefik.....Asking an SME to deposit N20m for such order and a guarantee of monthly purchases of between N10-15m is really difficult *Staff of Pride Garments company at work

Lack of forex: The lack of foreign exchange is really affecting this business because about 90 per cent of inputs, except labour, is sourced abroad. This is so because the fabrics and accessories for the product line that caught my interest the most (the industrial workclothes), are imported.

We have approached some textile mills in Nigeria to get them to produce that quality of fabric suitable for the production of work-wear but they gave us conditions we cannot meet.

"Asking a Small and Medium Enterprise to deposit N 20m for such order and a guarantee of monthly purchases of between N10-15m is really difficult.

They equally said that they would need to import some chemicals that will be used to achieve that quality. One is then bound to ask: 'what was the agreement with these investors when they were granted licence to operate in Nigeria? Some of them are Indians, some Chinese and

*Some of the products on display these countries have this very quality of fabrics and they export same to Nigeria."

Local content: "Local content is 100 per cent workforce, other inputs such as equipment/machines are imported except for raw materials which is determined by client’s specifications that is, where the requested order suggest Nigerian print textile, then the fabric which is 80 per cent of any garment product can complement the local labour thereby increasing Nigerian content to about 90-95 per cent. Most accessories are often imported."

Vanguard, MONDAY, MARCH 7, 2016 — 29 “The moving finger writes; and having writ, moves on. Nor all your piety nor wit shall lure it back to cancel half a line; nor all your tear wash out a word of it.” Omar Khayyam, 1123AD. (VANGUARD BOOK p 57).

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ost of our Fellow Countrymen (“How many fools make up Fellow Countrymen”, asked Thomas Carlyle, 1795-1881, in despair) are emotional and unrealistic.

Less than one tenth of one per cent understands the basic principles of economics.

Most of the leaders, drawn from the same pool of people, are not different. Even those among the leaders who understand the principles of economics lack the moral courage to tell the truth when issues pertaining to economics become contentious. They choose to play to gallery by telling the “masses” what they prefer to be told instead of telling the truth which might be unpopular. Electricity tariff increase is another example of how the masses and spineless leaders can induce governments to take decisions whose consequences later prove disastrous e.g tariff reversal. About three years after the Structural Adjustment Programme, SAP, which had helped the “Tiger” nations in Asia to achieve economic recovery, President Ibrahim Badamasi Babangida, IBB, was scratching his head in Nigeria and wondering “why the laws of economics, which work elsewhere, don’t work in Nigeria.” The answer given was direct to the point. “The principles of economics address themselves to reasonable people. Nigerians are nothing but reasonable – including most of the leaders.” What we are reading in the papers these days prove the point conclusively. In a nation where seventy per cent of the people live on $2 [N600 at N300/ US$1] per day, a “leader ” distributed 23 exotic cars costing N310 million to people who already had more than a dozen cars each! Furthermore, some Nigerians still defend the giver and the takers of that demonstration of economic

“No”” to protest against tariff increase lunacy. While that was going on, the former Minister of Finance was preaching economic inclusiveness – while the government she served was excluding 170 million Nigerians from the dividends of democracy. The flight of economic reason from Nigeria cannot be more total.

It is once more being exhibited in the national debate regarding electricity tariff increase. Some of those opposed have made several suggestions which will be examined separately and the consequences of each will be pointed out to those who think their suggestions will solve the problem. But, before looking at the objections to tariff increase, we need to remind ourselves of certain facts which suggest that we might be blaming the victims – DISCOs – for the sins of commission and omission of governments from the time the Electricity Corporation of Nigeria, ECN, was established; until the Power Holding Company of Nigeria, PHCN, was liquidated.

Fact 1. The Distribution Companies, DISCOs, don’t generate electricity. That is the responsibility of another unit still under government control.

DISCOs cannot supply power in excess of what the Federal Government makes available to them. Thus, when power supply is withheld (it happened here two minutes ago this Saturday February 27,

2016) Nigerians, presumed to be sane, let loose curses and maledictions on DISCOs and their staff. On one occasion, a DISCO van passing by was pelted with stones. Most Nigerians, including people who should be knowledgeable and responsible, fall into the blame trap and unleash expletives. Why? It is obviously irrational; and partly insane.

As the lawyers have always reminded us, “You can’t give what you don’t have”. So why are My Fellow Nigerians asking DISCOS to supply more power and more regularly than they receive?

FACT 2. Power generation in Nigeria had remained stubbornly below 5,000MW for more than sixteen years despite the US$13-16 billion, Obasanjo’s government allegedly spent on it.

Meanwhile, the nation had been fed on several diets of lies

by PDP Presidents and their Ministers of Power. Obasanjo/ Lyel Imoke promised 10,000MW by 2007. That was the excuse for the raid of US$13-16 billion. They added less than 1000MW by the time they left office. Nobody stones them. Jonathan/Professors Nnaji and Nebo promised 14,000MW by end of 2013.

They left office with capacity less than 4500MW. Nobody directs curses and maledictions their way any time there is power failure.

Yet, at the time privatization

was being seriously embarked upon, the prospective DISCOs were deceived to believe that power supply would have reached at least 10,000MW by 2015. Had that promise been redeemed, the noisy city dwellers, constituting the nuisance to DISCOs, should be enjoying at least twelve to fifteen hours of power supply by now. Instead of directing their anger at those who were sharing our money rather than applying it to provide power, they vent their spleen on the first victims of the swindle perpetrated by the Jonathan administration. DISCOs were promised power supply; governments have failed to deliver. We should blame governments; not the DISCOs. FACT 3. The Minister for Power, Fashola, was absolutely correct. You cannot divorce the price paid from the value received and by looking at the alternatives. DISCO power supply is still far cheaper than any other means of generating power – even with the new tariff. On the average, it is a mere 20 per cent of the closest alternative – petrol or diesel generators. A meticulous compilation of expenditure on electricity by different means has established that DISCOs are almost operating as a charity compared with gensets. So, why curse the benefactor for increasing the price when the new tariff is still akin to robbing the DISCOs?

How many Nigerians, if given a DISCO free today will lower the tariff? Hypocrites!!

FACT 4. Scarcity always drives up prices/costs.

Nigerians should count themselves fortunate that the power sector had not been totally privatized; a regulatory agency still regulates the tariff.

Had the free market been allowed to operate in the power sector, most of us would not have been receiving power supply at all. Corporate entities, the wealthy and the rich would have bought the entire supply if it was made available to the highest bidder.

The Chief Executive Officer of a multi-national disclosed that his company would save up to three billion a year using DISCO exclusively if the tariff is three times what it is now.

Most critics are actually cynical individuals. And as Oscar Wilde, 1854-1900, had observed, “A cynic is a person who knows the price of everything, but the value of nothing.” Most of them lack a sense of the economic value of mass produced power supply.

Incidentally, how many of them, who have tenants, have retained the rent at the same level since 2010? Yet, their “services” to tenants have not improved (actually deteriorated as the buildings aged). Yet, they increase rent. Ask them why? And get ready to listen to the malarkey offered as explanation. The new tariff must stay; painful as it is, it is still in our interest.

To be continued…

Micro Finance 'Nigeria has no business importing print products' Stories by PROVIDENCE OBUH

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hairman of Board of Academy Press Plc, Chief Simeon Oguntimehin, has affirmed that the country does not need to import printing products as a nation because local printers can do it.

He made the observation th during the company’s 50 Anniversary Dinner in Lagos.

“We do not need as a nation, to import any of our print products such as books, magazines, annual report, calendars, diaries, fliers, bank forms, flow lines, tickets, vouchers and all other sensitive materials including elections papers, revenue agencies forms, bank forms and other security agency document needs,” he said.

He noted that Academy Press is now positioned to lead the industry to fully cater for the entire needs of the country. ‘’We have remained strong over the last 50 years as a result C M Y K

of continued re-investment in modern printing equipment and we just launched new sets of printing equipment worth N1.5 billion. Academy Press is Nigeria’s one-stop shop for world class printing.”

“In fact, we do not end any

five years without investing in major modern equipment. This is to ensure that wet catch up with the latest skills and technology and to always be at par with the rest of the world.”

Also speaking, Managing Director of the company, Mr.

Gbenga Ladipo, added: “We have been financing the growth and retooling from our own

Simba woos entrepreneurs over service centres

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CONFERENCE - From left: Banjo Adegbohungbe; General Manager Access Bank, Charles W J Weller; Managing Director Financial Institutions Barclays, Paul Greetham; Managing Director Global Trade Review (GTR) and Tampiri Irimagha Akemu; Managing Director Sesema PR at the West Africa Trade & Export Finance Conference 2016 by GTR recently.

internally generated funds. For six years we were getting equipment one after the other and demand was ahead of us until the Bank of Industry’s intervention and that led to a leap within that year.”

imba Group says it welcome business owners and aspiring entrepreneurs who want to open authorized service centres for its products across the country.

The company distributes and services power backup products such as inverters, batteries, online UPS and integrated power management systems including luminous, genus, epsilon and exicom.

In a statement, Chief Vinay Grover, Managing Director of Simba, said that they have eleven service centers in key cities in Nigeria with plans to further open 20 service centers within the next few months.

“We have always believed that

a good quality product means very little unless it is supported by a high level of service before, during and after the sales process. It is with this in mind that we recently launched our one-of-a-kind 24/7 nationwide contact center and exclusive customer-service online portal,” he said.

Chief Grover explained, “As more and more customers turn to our award winning customer care offering, it becomes important that we bring these services closer to them. It is with this in mind that we committed to extending our service through the creation of new Authorized Centers, which I’m happy to announce are fully operational now.”

30 — Vanguard, MONDAY, MARCH 7, 2016

Economy

New CBN study discredits inflation targeting model for economic devt Stories By EMEKA ANAETO, Economy Editor

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new report by the monetary policy department of the Central Bank of Nigeria, CBN, has indicated that a full-fledged inflation targeting framework may not be very relevant in the prevailing economic dispensation, popularly called the new normal, as it may not address the exchange rate and foreign reserves variability, economic growth as well as employment objectives of the Nigerian economy.

Inflation targeting encompasses a monetary policy framework in which the central bank sets an explicit target for future inflation, usually low inflation rate, and work towards achieving this goal.

Consequently, the inflation rate serves as the nominal anchor on which the central bank relies to maintain price stability.

Since the first adoption of inflation targeting by New Zealand in 1990, several countries from developed and emerging market economies as well as developing countries including Nigeria have adopted the framework.

The policy framework, according to the CBN, proved to be quite successful in the previous two decades.

However, the recent global financial and economic crisis has put a severe dent to this monetary policy framework.

During the crisis, most central banks fell into the liquidity trap as the target interest rates were cut to the zero bound to stimulate the economy. ‘ But when there was no incentive for a further lowering of the nominal interest rate, unconventional monetary policy was adopted evidenced by several rounds of

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quantitative easing followed.

Yet, unemployment remained very high indicating that the steps taken were not sufficient to reverse the recessionary trend. In spite of the persisting unemployment and low growth, inflation rates in most advanced economies such as the United State of America, remained very low.

It was obvious that the achievement of the low inflation target, with low interest rate and low volatility, did not guarantee favourable growth and improved employment.

At this point, economists began to question the wisdom in the inflation targeting framework.

It was this abnormal environment, termed by some analysts as the new normal, and under which unconventional monetary policy appeared more successful in addressing the

imbalances in the economy.

According to the CBN report, “in the new normal, central banks have the additional mandate of maintaining financial system stability and economic growth in addition to the price stability objective of monetary policy.

“In the particular case of developing economies with substantial output gap, we query the continued relevance of the conventional focus of

During the crisis, most central banks fell into the liquidity trap as the target interest rates were cut to the zero bound to stimulate the economy

monetary policy.

In the CBN report titled ‘relevance of inflation targeting for developing countries in the new normal: a case of Nigeria’, published last week as CBN working paper series, the apex bank’s monetary economists said however, that the alternative scenario of nominal gross domestic product, GDP, targeting framework seems more plausible, as it generates higher economic growth, increment in foreign reserves, more stable exchange rate as well as lower inflation rate.

According to them “this position is consistent with the new Keynesian theory, which posits that an economy with huge output gap could boost economic growth and employment through a low interest rate policy.

“Furthermore, the theory argues that with financial frictions in place, strict inflation targeting may be sub-optimal

under conditions of financial market imperfection as is common in most developing economies”.

The conclusions of the research team was derived from a study and reviews of the conceptual as well as theoretical and empirical literature on the subject, and employed various estimation techniques.

The outcome of the study, the team stated, “demonstrates that in post crisis Nigeria, under the new normal paradigm, strict inflation targeting would not be a suitable framework to address the key macroeconomic issues confronting the economy, such as inclusive economic growth, price instability and exchange rate stability.

The estimation technique adopted in the study demonstrates that nominal GDP targeting could be more suitable than inflation targeting in pursuit of the broader set of objectives highlighted under the new normal paradigm.

Inflation targeting, according to the report, however, still remains a relevant policy approach but is considered weak in its ability to deal with financial and economic crisis if deployed solely.

February inflation rate may hit 2-yr high

... FSDH Forecasts 9.85%

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he approaching double-digit inflationary economy is around the corner with analysts expecting the February figures at a border line.

In its current analysis of the economic situation economists at FSDH Merchant Bank said they expect the February 2016 inflation rate to trend up to 9.85 per cent year-on-year, y-o-y, up significantly from 9.62 per cent recorded in January 2016.

According to them the increase in the inflation rate would be as a result of the volatility in the foreign exchange market during the month.

National Bureau of Statistics, NBS, is expected to release the inflation rate for the month of February 2016 by next week.

Food Price Index, FPI, which the Food and Agriculture Organization, FAO, released last week shows that food prices increased marginally in February from

January level. FPI increased by 0.14 per cent from the revised figure in January.

Price of vegetable oil surged in February while meat prices recorded a small recovery. The increases in these two categories were more than enough to offset the decline in cereal, sugar and dairy prices.

FAO Vegetable Oil Price Index was up significantly by 8.04 per cent from January, the highest value since June 2015.

The upswing was primarily driven by reports of falling inventories in Southeast Asia coupled with poor production prospects in the coming months.

FAO Meat Price Index was up 0.67 per cent as prices for the different categories of meat went in different directions.

The FAO Cereal Price Index was marginally down by 0.55 per cent, due to ample global supplies and increased competition for export markets. Wheat

prices were mostly affected while on the other hand, rice prices firmed slightly.

The FAO Dairy Price Index fell by 2.13 per cent, due to lackluster import demand, especially by China, and increase in supply for export.

FAO Sugar Price Index recorded the highest loss. The Index was down 6.16 per cent due to better than expected crop conditions from Brazil.

FSDH stated “our analysis indicates that the value of the Naira remained stable at the inter-bank market while it depreciated at the parallel market by 9.85 per cent to close at USD/N340.00 from USD/N306.50 at the end of January.

“The depreciation at the parallel market led to an increase in the prices of imported consumer goods in Nigeria between the two months under review.

“The prices of most of the food items that FSDH Research monitored in February 2016 increased.

Vanguard, MONDAY, MARCH 7, 2016 — 31

Advertising & Media

AAAN creates campaign against terrorism, corruption unify us.” “It is a behaviour change campaign such as the one we are working on requires deep insight and expertise.

You’ve got to build it with deep, resonant insights; sometimes

STORIES BY PRINCEWILL EKWUJURU

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ssociation of Advertising Agencies of Nigeria, AAAN, says it’s taking the fight against corruption, terrorism and other vices to the billboards as their contribution towards government’s effort at tackling the menace.

The AAAN president who spoke to Vanguard said the Association had reached an agreement to compliment government’s efforts through a campaign that will unify and motivate Nigerians to support the war against corruption and terrorism.

According to him, the campaign is meant to support the war against corruption , terrorism, mobilise, inspire, and motivate Nigerians to join in the war.

He further stated “there is currently a lot of apathy amongst Nigerians about the violence going on and that has continued to go on especially in the North Eastern part of the country. That is what our campaign on Anti-Terrorism is all about.”

The AAAN president who

you might need to pre-test the creative work. So government has got to be deliberate in designing these campaigns otherwise they will not be effective.

Nigeria to usher in creativity in Cannes’ Style

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MEETING - From Left: Dr Rotimi Oladele,President NIPR;Dr Grace Achum,Special Assistant to NIPR President on Media and Ethel Agbeyegbe,Acting Chairman,Lagos State Chapter of NIPR.At the breakfast meeting of NIRP Team and Brand Journalist Association of Nigeria held in Lagos. PHOTO: AKEEM SALAU. stated that the campaign was first conceived before government thought about the war against corruption, is meant to be an integrated campaign that will support the whole war against terrorism using very effective media to deliver the message and solicit support of Nigerians for the government.

His words, “it is really a campaign to support the war

against terrorism. We have also developed two other campaigns. So there is this one against terrorism; there is one against corruption and there is another one for unity. As you know, one of the big issues in our country is Unity or the lack of it. This country is so divided; divided along tribal lines, political lines, religious lines etc. We believe therefore that we need to have a campaign to

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Cannes Lions International Festival of Creativity launches its communications campaign for 2016 tagged, “Thank You C r e a t i v i t y ” (www.thankyoucreativity.com), the official Festival representative in Nigeria, CHINI Productions has also rolled out plans for the pre Cannes local events in Nigeria.

Activities lined up in Nigeria include the Roger Hatchuel Academy, the Young Lions Competitions, the Miami Ad School Scholarship Competitions, Lions Edit and Lions Night & Awards. These activities are scheduled to take place from April 5 to April 9, 2016. Entries for Roger Hatchuel Academy, Young Lions C ompetition and Miami Ad School Scholarship competitions

are already open at www.canneslions-ng.com.

The Roger Hatchuel Academy is the oldest academy in Cannes Lions and is named after the first Festival chairman. It is a high profile intensive training for students in the university who intend to work in advertising on graduation. In Nigeria, CHINI Productions has partnered with APCON for about 9 years to promote this programme. In 2016 again, this programme will see talented students gather from campuses around Nigeria to learn from leading professionals in Lagos and visit organisations in the industry during their 3day intensive residential programme. Companies that have already decided to host the students include Noah’s Ark Communications and STB McCann.

e-Commerce

MTN, Goldman Sachs, Rocket Internet commit N48bn to grow AIG STORIES BY JONAH NWOKPOKU

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frica Internet Group, AIG has received additional investments totalling $245 million, about N48 billion, from South African telecoms group, MTN, American investment banking firm, Goldman Sachs and Rocket Internet.

Recall that MTN had bought 33 per cent in AIG in 2014 to

join other AIG shareholders including Rocket Internet.

AIG, founded in Nigeria in 2012 as an e-commerce conglomerate has leveraged deepening internet penetration in emerging markets including growing middle class to meet increasing demands for online products.

Over the past three years, the group has launched and operated e-commerce companies in 26 countries

across Africa. These companies include: Online retailer, Jumia.com, food delivery app HelloFood, hotel booking platform Jovago, online real estate marketplace Lamudi, online marketplace, Kaymu.com, taxi hailing app,EasyTaxi and online vehicle marketplace, Carmudi.com.

Recall that barely a month ago; AIG raised £75 million by selling 8 per cent stake of the company to French insurance giant, AXA.

Speaking on the investments, Founders and Co-CEOs of Jumia and AIG, Sacha Poignonnec and Jeremy Hodara said the funds will significantly strengthen the balance sheet of AIG enabling the company to leverage the significant growth of Jumia and other AIG subsidiaries and to capitalize on the significant opportunities in Africa.

“This investment is recognition of the success that Jumia has already achieved and provides us with a strategic flexibility to further support our

efforts to offer the best shopping experience to our customers,” said Sacha Poignonnec and Jeremy Hodar in a joint statement made available to Vanguard, adding, “We are delighted to welcomeAXAandGoldmanSachs as new investors and are also grateful for the continued confidence from our existing shareholders. To us, it is arecognition of the quality of our operations across the African continent and an affirmation of the significant growth potential of Jumia.”

ThestatementfurthersaidJumia, intends to use the funds to support itscontinuedgrowth,andtoexecute on attractive development opportunities in Africa along with AIG’s other e-commerce platforms.

Carmudi, Concept Nova partner to combat vehicle vandalism

C VISIT — From left: Mr. Oscar Onyema, Chief Executive Officer (CEO) Nigerian Stock Exchange; Alhaji Muneer Bankole, Managing Director/CEO, MED-VIEW Airline and Rasheed Yussuff, MD/CEO, Trust Yields Securities Ltd during the courtesy visit of Med-View Airline to Nigerian stock Exchange, Lagos, preparatory to listing.

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armudi, Nigeria’s online vehicle marketplace, and Concept Nova, a fast growing information technology and software development company have partnered to provide a premium anti-glass break solution called C-Protect for car buyers and owners in Nigeria.

C-protect is an invisible film which can be applied to car windows, windscreens and glass vents protecting the glass from breaking in the event of accidental break, vandalism or robbery.

Speaking on the research and partnership, Managing Director Amy Muoneke said ‘Carmudi Nigeria is not just focused on providing a fraud free platform for car buyers and sellers but we also make it a point of duty to partner with organization that provide services and products that would benefit car buyers. Security has always been an important issue and we are proud offer Nigerians who buy cars from the Carmudi Nigeria website C-protect at a discounted price."

32 — Vanguard, MONDAY, MARCH 7, 2016

(0805 220 1997)

Will agonising fuel queues ever end?

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t is, inexplicable, that despite Nigeria’s ranking as a major oil producer, our economy is still literally in shambles with a tattered currency and a crushing unemployment rate above 25%; we still unfortunately presently expend almost 50% of our total export revenue on fuel imported from some of those refineries which buy our crude oil.

Regrettably, despite the regular recurrence of fuel scarcity, with its severe public discomfort, and ravaging economic dislocation, there is still no assurance that this tortuous cycle will ever end.

However, if the inefficient, and wasteful sporadic operation of existing government refineries is anything to go by, any serious proposal for government to build and operate more refineries may just be a death wish.

Although, it has been suggested that public/private sector partnership refineries will guarantee efficiency and best practice management, serious investors may, however, never emerge, if fuel price remains regulated; furthermore, if government’s plans to collaborate with private investors have still not advanced beyond an M.O.U, then it will be unrealistic to expect steady fuel supply, for at least another two years.

It has, also, been suggested that several small modular refineries can be established very quickly nationwide; evidently this strategy may only be feasible if pipelines are already laid from oil wells in the South/South to designated refinery sites, in widespread locations, before modular refineries become

practical propositions.

Furthermore, the concept of modular refineries may not also attract private sector interest, if fuel price still remains regulated. Nigerians may readily recall that the approval given in 2012 to a Nigerian/American consortium to construct, 6 modular refineries within 30 months, has regrettably also failed to materialise; more than 20 other licensees have also remained inactive.

The preceding narrative suggests that the possibility of more refineries to augment fuel supply and possibly also earn additional export revenue may not materialise for a while yet, at least not until fuel pricing is deregulated. Nonetheless, our hope for fuel sufficiency may still be spurred by the steady progress of the multibillion dollar Dangote’s Lekki refinery. Dangote’s refinery, will produce about 500,000 barrels per day to cover over 50 % of our daily domestic requirement of over 40m litres.

Anyhow, Dangote’s refinery may not come on stream until 2018, so fuel supply will still largely remain import based and will therefore continue to severely deplete our foreign exchange reserves.

Incidentally, the eventual commissioning of Dangote’s refinery in 2018 will certainly improve fuel supply but it may not significantly reduce the heavy depletion of our foreign exchange reserves from fuel imports.

Furthermore, the location of this gigantic project in an Export Processing Zone, connotes product prices will be denominated in dollars.

Indeed, the Project’s Sponsor has never hidden the fact that, in addition to personal equity, foreign loans, which would be serviced and repaid in foreign currency were also secured to fund the projects; thus, Dangote’s Refinery will not sell its fuel in Naira and then proceed to buy dollars from CBN to service its external loans; indeed with such trade terms and, the continuous slide in Naira exchange rate, this multibillion dollar investment would invariably become a nightmare for the owners.

So, fuel supply may still predominantly come from NNPC imports, and fuel scarcity will unfortunately also remain abiding with NNPC’s monopoly; this, would be bad news for the market because private sector marketers will be happy to avoid the heavy financial burden which results when subsidy refunds and exchange differentials are not promptly settled to repay their high interest bank loans with the usual oppressive penalty clauses.

Indeed, Fuel merchants are probably, presently, more comfortable with simply paying Naira to lift supplies directly from NNPC to service their own petrol outlets and earn a modest profit margin without much sweat, as this strategy invariably drastically reduces both the tenor and the high interest paid on loans that marketers incur to import fuel.

Nonetheless, although NNPC’s monopoly will reduce the level of petrol marketers’ loans well below the present estimated 40% of total bank credit, sadly however, commercial banks

will probably still choose to reinvest the resultant surplus funds, in governments’ bills and bonds, to reap easy money rather than support the famished real sector with low cost funds.

Conversely, however, NNPC operations will inadvertently become challenged, as over 50% of its forex earnings will also have to be dedicated to pay for fuel imports. It is not yet clear how this system is currently playing out, particularly with the mandatory requirement for the Corporation to domicile its funds in CBN in compliance with the T.S.A system.

Obviously, the sales income from petrol and kerosene supplies comes into NNPC coffers in Naira, so how will the Corporation account for unavoidable exchange rate differentials, when it has to pay for its fuel supplies in dollars?

The question is clearly, at what rates the NNPC will repurchase dollars with its naira sales income from CBN to pay for its fuel imports; conversely, NNPC may actually require an approved dollar denominated budget annually, for its fuel imports so as to avoid recourse to the dangers inherent in procuring dollars from CBN for this purpose.

It would seem from the preceding narrative, that there is no easy quick fix solution to the challenge of fuel supply without price deregulation. Nevertheless, deregulation will invariably also fail if the Naira exchange remains weak.

Thus, government’s apparent inability to deregulate is actually because of the

apprehension that such policy position will not be sustainable if Naira’s unending slide is not arrested. For example, if the Naira is allowed to depreciate below N300=$1 because of dollar demand pressure, the pump price of fuel which is presently below the N87/litre regulated price, will immediately spike above N140/litre to make abolition of fuel subsidy very unpopular; invariably, further depreciation will expectedly further increase fuel price beyond N140/litre.

Conversely, if the Naira appreciates to N100=$, for example, fuel price will fall below N50/litre, i.e. well below the regulated price, and support sustainable deregulation of the downstream market; furthermore, with deregulation, the market will embrace competitive pricing and services amongst marketers, so that, ultimately NNPC may withdraw and focus on more specialised subsectors of the oil industry.

Evidently, with the eternal presence of systemic surplus Naira in the money market, not even increasing dollar revenue will save the Naira exchange rate from further depreciation; however, a more competent management of naira liquidity by CBN will gradually redress the market imbalance in favour of Naira and steadily induce a stronger naira exchange rate that would support and sustain deregulation of fuel pricing.

Instructively, Naira liquidity will be minimised if Naira allocations are not substituted for dollar denominated revenue.

Business & Economy

Skye Bank, KIA Motors offer new car acquisition window

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n strict adherence to the current national automotive policy of the Federal Government to promote the culture of driving new cars by Nigerians, some strategic alliances have begun to emerge between the major stakeholders in the transportation sector and the financial services industry.

These alliances are designed to ensure ease of acquisition of new cars by the members of the public as well as ensuring flexibility in paying for the cars over a period of time.

The major stakeholders that are involved in this new drive to relegate used cars to the background and facilitate the C M Y K

easy acquisition of new cars are the car manufacturers/ marketers and banks that are providing the funding requirement to the prospective car owners and members of the public.

The idea behind this new trend is to discourage the habit of buying used cars by Nigerians and embrace a more pleasant driving experience.

Skye Bank Plc. and Kia Motors recently signed a strategic auto finance agreement to enable customers of Skye Bank acquire brand new Kia vehicles without difficulty. The arrangement covers Kia models such as Picanto, Rio, Cerrato, Optima

and Sportage. The partnership is borne out of the zest of both Kia Motors Nigeria and Skye Bank Plc to promote a customer-driven corporate culture by providing the best quality service and exceptional buying experience with all values centered on the customers.

The joint partnership brings to the fore an auto finance scheme that is geared towards satisfying customers’ needs with manageable monthly repayments and is best suited for individuals, organizations, corporate bodies and institutions who are availed convenient and flexible finance options.

Omoh Gabriel Babajide Komolafe Clara Nwachukwu Peter Egwuatu Yinka Kolawole Favour Nnabugwu Godwin Oritse Godfrey Bivbere Michael Eboh Franklin Alli Ifeyinwa Obi Rosemary Onuoha Nkiruka Nnorom CONTRIBUTORS Princewill Ekwujuru Jonah Nwokpoku Naomi Uzor Providence Obuh LAYOUT

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Group Business Editor Deputy Business Editor Energy Editor Asst. Business Editor Snr Bus. Correspondent Insurance Correspondent Maritime Correspondent Maritime Correspondent Energy Reporter Industry/Agric. Reporter Maritime Reporter Insurance Reporter Capital Market Reporter

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Vanguard, MONDAY, MARCH 7, 2016—33 Send Opinions & Letters to: opinions1234@yahoo.com

We can’t shut our e o injustice eyyes tto

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UR country is a secular state, but the Nigerian spirit teaches us to stand up for justice, defend the weak, the repressed and the oppressed.

Nigerians are so fair-minded that even in football, if our national team is not playing well, we sometimes switch support to the visiting team. We are also quite religious; the Holy Books teach us to be our brother’s keeper.

It is in this context, I think most of the attacks in the social media against President Muhammadu Buhari’s expressed support for Palestinians do not reflect our national spirit, are ahistorical and uniformed.

During his State Visit to Qatar, on February 28, 2016, he told Emir Tamim Bin Hammad AlThani, “I want to assure you that we will stand side by side with you, until our brothers and sisters in Palestine achieve their desired objectives…Our support for various Security Council resolutions restoring and respecting 1967 boundaries with Jerusalem as capital of Palestine is firm and unshaken.”

What President Buhari said is not a new policy; this has been our position for decades. I recall that when the National Association of Nigerian Students

(NANS) on December 14, 1982 adopted the Nigerian Students Charter Of Demands, they pledged to oppose “Zionism anywhere it raises its head until it ceases its hostility to the Palestinians and a home is created for the struggling Palestinians”. The Charter demanded that “the Palestine Liberation Organisation (PLO) be allowed to open an office in the country…”

So great were the pressures from progressive forces in the country, that within months, Nigeria granted full diplomatic recognition to the PLO which in 1984, sent Ambassador Samir Baker as Palestinian ambassador. By the time he left 21 years later, Baker was the longest serving envoy and Dean of the Diplomatic Corps in Nigeria.

Some of those who oppose the President’s pronouncement, erroneously ascribed religious motives. Let me clarify that Palestinians, like Nigerians, are both Muslims and Christians like the wife of Yasser Arafat, Suha Daoud Arafat who was Roman Catholic.

Secondly, Israel is not, and has never claimed to be a Christian state. In fact, a number of those who helped to create it, were

neither Christians nor evangelists; they were atheists!

They included Theodor Herzel, the Austro-Hungarian journalist who founded the Zionist Movement, David Ben-Gurion (Green) founder and first Prime Minister of modern Israel, Moshe Dayan, former Defence and Foreign Minister, and former Prime Ministers Golda Meir and Yitzak Rabin. Hence, when the Israeli constitution was being written and some Judaists wanted to add a clause that the God of their fathers brought them to the new Israel, the leaders argued that he had done very little for them, and therefore deserve no mention.

The atheists won!

The Palestine is homeland to various peoples; Jews, Arabs, Palestinians and the Europeans who became the Israeli ruling class. Even before God called

The Igbos say let the kite perch, let the eagle perch; there is enough room for all; The Yorubas say the sky is wide enough for birds to fly without bumping into each other; the world has enough space for the Israeli and Palestinian States to co-exist

Buhari's many failed promises

By Jim Lawson Moses

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HEN in 2015, President Muhamadu Buhari,PMB, won the Presidential election after a keen contest with the then incumbent President, Dr. Goodluck Jonathan, most Nigerians were happy thinking that the “messiah” that will take Nigerians from the woods to the “Promised Land” had come. Many, also jubilated with the firm belief that the ‘’change’’ which he and his Party, the All Progressives Congress, APC, promised Nigerians was certainly going to transform Nigeria.

But with just about 100 days to the end of his first year in office, PMB is still apportioning blames rather than proffering solutions. Rather than shop for those that will help him fix the nation’s bleeding economy, President Buhari is busy globetrotting; spending the little resources that Nigeria is left with abroad and returning back home with little or no results for his missions abroad.

I am calling for the humble resignation of Mr. President because of the following obvious reasons: Failed Promises During the 2015 presidential electioneering campaigns, PMB, promised to make the Naira equivalent to the United States of America Dollar. With this pronouncement, most of us where happy since our economy is an import dependent one. As at May 29, 2015, when he assumed office, the value of the Naira to the Dollar, in the black market was N195.00 against its current rate of N385.00. As a result of this, cost of almost every commodity in the market has skyrocketed.

Just few months ago, his government announced that 500,000 unemployed graduates where to be employed as C M Y K

teachers. Again, this was greeted with much applause. But just recently, the PMB led government announced that these teachers would be trained under its social welfare scheme to serve as voluntary teachers; what a deceit.

Unpreparedness for leadership To prove PMB’s unpreparedness for leadership, in April 2015, after the Presidential election, he mentioned to Nigerians that he was not sure that former President Goodluck Jonathan will concede defeat. To further buttress this position, it took President Buhari about seven months to appoint his ‘’saints’’ Ministers. Ministers without any allegation of fraud. To make matters worse, it took Buhari nine months to discover that the recently sacked 26 Agency heads were working for the PDP, as announced by the APC Chairman, Chief John Odijie-Oyegun.

Budget Padding Again, to show how unserious he takes the business of Nigeria, it is taking the President too long to get the 2016 budget passed. His “Zero-based” budget of 6 trillion for the “change” agenda, presented with so much fanfare, expected to perform wonders for Nigerians, has been rejected by the National Assembly because of massive blunders discovered in the document after it was initially declared missing.

What does PMB and his APC Led government take Nigerians for?

Nigeria needs a president that can move her forward not one that has taken her 30 years backwards

Abraham from his father’s house in Ur of the Chaldees -Present day Iraq- Palestine was homeland to various nationalities.

It might be important to point out that the Palestine was not the first homeland of returnee Jews.

Back in 1882, Mordecai Manuel Noah had created one in the Grand Island, in the Niagara River, United States.

In 1903, Britain carved 13,000Km of the Mau Plateau (present day Kenya) and gave it to the World Zionist Organisation to build the Jewish Homeland.

The Organisation at its 1903 Sixth Congress in Basel , voted 295 to 177 votes to accept the British offer. After exploratory visits, the Zionists developed cold feet fearing that the indigenous Massai population may resist a huge influx of Europeans which was essentially what the migrating Jews were.

The largest Jewish homeland ever established before present day Israel was the Birobidzhah given by the defunct Union of Soviet Socialist Republics (USSR) based on the policy enunciated by its leader, Joseph Stanley that there can be no nation without a defined territory. The homeland thrived with Jews across the world migrating there until the Second World War almost terminated the existence of the Soviet Union itself.

This homeland was depopulated with the rise of present day Israel.

When the USSR was dissolved on December 26, 1991, many of the Jews in this homeland migrated to Israel and Germany.

There is the issue of President Buhari mentioning Jerusalem as capital of the Palestinian State.

First, this is the international position especially by United Nations and the 94 countries that recognise the Palestinian State. Secondly, it is an open

According to the late reggae icon, Bob Marley, you can fool some people sometimes but you can’t fool all the people all the time.

With reference to the controversial budget, full of concocted huge sums of Naira, with so many so-called errors attributed to the Presidency, how can a government that means well for its citizens plan a higher budget for its Ministry of Information against a lesser one for the Ministry of Agriculture in a country plagued by poverty, hunger and starvation? Or is this deliberate in other to equip the Minister for Information and Culture, Alhaji Lai Muhammed, for what he knows how to do best; propaganda.

How did N5 million proposed for buying computers for the News Agency of Nigeria (NAN) and the Film and Video Censors Board mysteriously became N398 million? What error accounts for the N3.8 billion allocated for capital projects at the State House Clinic meant for the president, vice-president and their families alone; compared to the N2.6 billion allocated for all the 17 government teaching hospitals nationwide.

Based on the foregoing, is the budget truly a reflection of how PMB loves Nigerians and the Nigeria he once cried for? Is it also a true reflection of the “change” he promised? What brands of tyres, batteries, fuses, c-caution signs, fire extinguishers and towing ropes will amount to more than quarter of a billion Naira of tax payers’ money, considering the fact that this budget is just for one year and that some of the listed items come with brand new cars. How can a President who claims to be fighting corruption present such a budget?

Exposing Nigeria to external aggression President Buhari goofed seriously when he made the Dasukigate investigation public. Even in the advanced world, matters of national security are handled

secret that East Jerusalem is the ancestral home of the Palestinians who occupied it until 1967 when it was seized

by Israel following the ArabIsraeli War; the real capital of Israel is Tel Aviv.

Those who read religious motives to the issue of Jerusalem, need to know that it is a Holy City to Judaism, Christianity and Islam. To Judaists, Jerusalem is its holiest city where King Solomon built the First Temple on the Temple Mount and Herod the Great built the Second Temple part of which is the Western Wall, better known as the Wailing Wall because many Judaists often weep there over the destruction of temples.

To Christians, Jerusalem is holy because that was the city Jesus was brought as a child to the temple, where he chased out the traders from the temple, had the Last Supper and was crucified. The Church of the Holy Sepulchre is said to be built on the crucifixion site.

The holy cities of Islam are Mecca, Medina and Jerusalem.

It was in Jerusalem Prophet Mohammed (SAW) met the prophets, ascended to heaven and was given the instruction that Muslims should pray five times daily. The Dome of the Rock, built on Mount Temple, is a holy site of Islam.

Violence, begets violence; the violence between Israel and Palestinians must end. Jews cannot have a homeland and deny their neigbours the right to theirs. The Igbos say let the kite perch, let the eagle perch; there is enough room for all; The Yorubas say the sky is wide enough for birds to fly without bumping into each other; the world has enough space for the Israeli and Palestinian States to co-exist.

secretly on-the-need-to-know bases. But in PMB’s case, he preferred to make a big show with it thereby exposing the nation’s vulnerability and susceptibility to external military aggression and possible invasion by any country; no matter how small that may want to display its military might and superiority. PMB, in doing this, forgot he took an oath to protect Nigerians.

Lack of tolerance for the opposition PMB’s intolerance for the opposition remains unparalleled. He has not congratulated any governor in the opposition political parties who emerged victorious in any election, since he assumed office as President. This may also be the reason his anti corruption fight is perceived to be a vendetta mission, an attempt to reduce the opposition to nothing. This writer is not against the anti corruption stance of Mr. President but his approach is seriously assuming a dangerous dimension; Nigerians are watching.

PMB’s corruption war seems to be targeted and limited to the Jonathan’s administration. Is PMB telling Nigerians that previous administrations were corruption free? Or is it because Dr. Jonathan did not in the military? What are the reasons for limiting this fight to Jonathan’s administration and the PDP alone? What about the men in his cabinet, whose names are associated with so many alleged corruption issues? Is PMB surrounded by saints, is he saying that all present and former governors of the APC are corruption free or they never corruptly enriched themselves? In about three months , his administration will be one year. Nigeria needs a president that can move her forward not one that has taken her 30 years backwards.

*Mr. Moses, a public affairs analyst, wrote from Lagos.

34—Vanguard, MONDAY, MARCH 7, 2016

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HY does President Muhammadu Buhari’s N5,000 “dole” issue matter?

How do I see the President’s intention not to implement it as contained in the All Progressives Congress (APC) campaign promises based on which many Nigerians voted for him? These and other issues connected thereto I will address shortly.

The truth is that no regime since 1999, from Olusegun Obasanjo to Goodluck Jonathan, was able to implement all its promises (and the programmes of the ruling party) to the electorate. They prioritised and implemented what they could. But in their cases, there were no dramatic moments of outright public denials of promises made. In the case of Buhari and the APC, the President has denied a major programme which his party campaigned with.

Coming from a man publicly garbed with the robe of integrity, that is highly disappointing.

The question is: did candidate Buhari and his party, the APC, actually promise to pay N5,000 to unemployed youths”? For the correct answer, all we have to do is turn to their litany of 81 campaign promises. Item number 15 says: “Creation of Social Welfare Programme of at least N5,000 that will cater for the 25 million poorest and most vulnerable citizens upon demonstration of children’s enrolment in school and evidence of immunisation to help promote family stability”.

Unemployed graduates It is obvious that even the APC as a party did not specifically promise to pay N5,000 per month to unemployed graduates or youth. If anything, the people targeted were the indigent and destitute Nigerians with families, subject to the proviso that their children must be schooling and have undergone immunisation.

Perhaps, in the heat of campaigns, APC stalwarts, mouthpieces, propaganda megaphones and social media hirelings gave it various twists.

In November last year, PDP senators raised a motion in the Senate calling on the APC Federal Government to immediately implement the programme. Vice President Yemi Osinbajo reiterated the government’s intention to do so. In fact, the National Chairman of the APC, Dr. John Oyegun, disclosed that it would be provided for in the 2016 budget. And indeed, it is one of the items in the controversial budget with a hefty sum of N500 billion (the biggest single appropriation) attached to it.

When this was on, I wrote an article entitled: FG’s N5,000 SWP, questions, questions. I pointed out that this APC campaign promise

N5,000 dole: yes and no was neither realistic nor based on any thinkthrough because we would need about N1.5 trillion per annum to cover 25 million “poorest and most indigent” Nigerians. Where will the money come from with our economy on its knees? How do you even determine who belongs to the “poorest and most indigent Nigerians” group when the World Bank insists that 58 million Nigerians live below the poverty line (Osinbajo actually used the figure of the Nigerian Bureau of Statistics (NBS), which says there are 110 million poor Nigerians).

In that article, we felt that even if we have the money, it will be wasteful to channel it into a social welfare dole, which is like giving people fish rather than making them fishers: “If this money is available to be doled out, why not put it into policies that multiply benefits and actually give more enterprising youth a chance to escape poverty? Why not invest it in agriculture and associated value chain, mining, real estate, capacity building, entrepreneurship training and infrastructure and other areas that create gainful employment on a massive scale? Why give fish to the “poorest and most vulnerable” Nigerians rather than teach them how to fish? Why foist this demeaning dependency syndrome on our

The flag bearer is the party’s property, and he cannot distance himself from the programmes of the party when he gets elected based on them

youth?”

The purpose of that article was to portray the APC Social Welfare Programme as harebrained and unviable at time of alleged “ëmpty treasury” and lack of funds to pay workers’ salaries.

It would seem that the President saw the merits of our argument and has decided that

the N500 billion will now be put in improving our infrastructure and capacity building of the youth. It is the only sensible way of spending such a huge sum. You have to bake the cake before you share it.

The sad thing, though, is that the President did not summon the courage to apologise for sidestepping this promise which was one of the litanies of mouth-watering baits the APC used to climb to power. Telling us he never made such a promise is laughable. Even if he did not personally make the promise, he never dissociated himself from it during the campaigns. There is no difference between a party’s published campaign promises and those of its candidate during campaigns.

The flag bearer is the party’s property, and he cannot distance himself from the programmes of the party when he gets elected based on them. It is morally wrong, and it smack of obtaining by false pretences (which we call”419"). It is never too late to make amends, but one must be honourable enough to admit his own mistakes and apologise.

Irony! Abba Moro in prison

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WONDER what Comrade Abba Moro would have done towards improving the Nigerian prisons system if he had imagined, when he was the Minister of the Interior, that he would one day be an inmate of one of his own cells.

Moro was one of the great black spots of the Jonathan administration. The most scandalous recruitment exercise for the Immigration Service, obviously staged for the purpose of extorting hundreds of thousands of job seeking university graduates, took place under Moro’s watch. In the process more than twenty young men and women perished in stampedes in stadiums across the

country. Nobody resigned. Nobody was sacked. Nobody paid. Moro continued to answer “Honourable Minister” until the Nigerian people decided they had had enough of the Jonathan regime.

It is obvious that the alleged fraud that extorted N676 million from unemployed youth would have been swept under the carpet if Jonathan had been re-elected.

Moro’s “godfather” would have been there to continue to shield him from justice.

Never again shall we keep a ruling party in power for longer than two terms!

Routine regime change is healthy not just for our democracy but also for the growth of the nation in so many ways that are now becoming obvious.

Otti’s opposition will help Abia

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HE decision by the governorship candidate of the All Progressives Alliance (APGA) in the 2016 election, Dr. Alex Otti, to remain in politics and put up credible opposition to the government of Dr. Okezie Ikpeazu of Abia State is the best thing that can happen to Ikpeazu and Abia State in the next four years.

Some say Ikpeazu has started well. That was how his predecessors, Orji Uzor Kalu and Theodore Orji started, but because there was no one to breathe down their necks, they turned the state into their private estates and successfully transferred power to their cronies in spite of their failure and their rejection at the polls. Good governance came to Anambra State when Governor Chris Ngige turned against his godfathers and used good governance to protect himself from them.

In the same vein, Ikpeazu, who will obviously want a second term, will be forced to continue to do well, knowing that Otti and his mass of followers are waiting in the wings.

When there is no credible opposition in a democracy, the people are always the losers.

OPINION Saraki: In the eyes of the storm

By Dan Owegie

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HE recent Supreme Court judgement which pontificated that the Code of Conduct Tribunal, CCT has the requisite jurisdiction to try the President of the Senate, Dr. Abubakar Bukola Saraki, on allegations of false asset declaration has effectively positioned the Kwara-born politician in the eyes of the storm.

The apex court panel of seven Justices unanimously dismissed an appeal by Saraki challenging his trial by the tribunal. In the lead judgment, Justice Walter Onnoghen held that the Tribunal had quasi criminal jurisdiction to ensure public probity and accountability of public officers, a position the tribunal had maintained all the while.

Interestingly too, Onnoghen held that the tribunal had the requisite jurisdiction to try the appellant (Saraki) without full complement of the three-member panel. It is also apparent that the 1999 Constitution as amended has not made definite stand on what number constitutes a quorum of the tribunal, but the Section 28 of the Interpretation Act did so very clearly. “The Interpretation Act holds that a two-member panel that includes the Chairman and one other member constitute a quorum to sit on any matter. This rubbishes all arguments being put forward over time by Bukola Saraki vide his lawyers.

Little wonder therefore that Saraki’s appeal suffered similar fate on October 30, 2015 when the Court of Appeal dismissed his petition challenging his trial at the tribunal. Justice Moore Adumein had held that the appeal lacked merit. Saraki had earlier challenged the legal propriety of the 13-count charge that was preferred C M Y K

against him by the Federal Ministry of Justice at the lower court which equally threw away his request before he went on appeal. Now the die is cast and Saraki is face-to-face with the reality of going to the CCT. As the situation stands, Saraki ought to resign as Senate President. His resignation is not just for him to attend to the serious criminal issues before the tribunal, it is also as a sign of respect for the office of the Senate President of Nigeria which he presently occupies. A situation where he now politicises his ordeal is quite unfortunate because, those who live in glass houses should ordinarily not throw stones. But he chose to throw stones in the APC glass house and now it is time for him to bear the consequences of his actions.

Saraki in the lower court said he had nothing to hide.

Now a date has been fixed for him to appear again at the CCT. Instead of going straight to the tribunal to face trial he is reported running about wanting to see Bola Ahmed Tinubu and President Muhammadu Buhari. The implication of such a rat race is that he may really have some things to hide. It means the tribunal is on the threshold of making history, to be the first institution to sting a sitting Senate president.

Instead of this shameful outing, the best option for Saraki is for him to stand down as Senate President. He must at this Saraki is point in time stop deceiving presumed himself because he will certainly take something away from the innocent exalted office if he refuses to toe the until path of honour. proven Bukola Saraki has no business remaining as the President of the guilty

Senate of the Federal Republic of Nigeria while answering charges on corruption and false declaration of assets.

Nigeria should be saved the agony of watching the Senate President appearing on the dock every time like a soap opera in a Nollywood movie. But if he insists, he will unintentionally be making all would-be occupier of such exalted office careful in future. It will also go a long way in instilling discipline in political parties in the country, not just the APC. It is obvious that those senators who insist that Saraki could, and should, combine the roles of Senate President and criminal defendant rest their argument on his presumed innocence until proven guilty as guaranteed by our constitution. They are behind the scene nudging him on to perdition. Such characters are simply putting self-interest over and above public interest. Senators of the Federal Republic of Nigeria should know by now that all eyes are on them and not just Saraki. They must take steps to defend the image of the nation’s hallowed red chamber. Nigerians expect their senators to be more concerned and circumspect about public interest. They should know that where the nation is heading with President Muhammadu Buhari is a nation where our people detest the ruining of its institutions. No corrupt person or criminal should occupy any public office hence forth. Nigerians are sick and tired of corruption. So whether some senators want it or not, whether they want to go and mill around the CCT each trial day or not, the law will surely take its full course on Saraki.

It is incontrovertible that Saraki is presumed innocent until proven guilty; but he should save the nation’s exalted office of the Senate President of the shame he is about to foist on it whether he is guilty or not.

Mr. Owegie,a chieftain of the APC, wrote from Benin City, Edo State.

Vanguard, MONDAY, MARCH 7, 2016 —35

A Splendid Achievement H

UAWEI Technologies, the leading provider of next generation telecommunications solutions, has been conducting business in Nigeria for 16 years. Since entering the market, the company has helped to improve Nigeria’s ICT infrastructure which plays an important role in GDP growth and job creation.

Frank Li is the Managing Director of Huawei Nigeria.

He is tasked with driving a diversified business with a strong heritage but he is grappling with a reality: That there is still a huge digital divide.

“There is a huge demand potential regarding access to the network from our carrier customers, enterprise customers and devices consumers.

And as a leading ICT solution provider, we have a huge responsibility to enlarge the ICT infrastructure and to build a better connected Nigeria.”

Huawei’s innovative and affordable solutions; quick response to customer needs and dedicated services are the strengths that has sustained the company ’s brand in the Nigerian telecoms market.

Affordable solutions This is why Frank Li is so confident about the company’s growth prospect going forward: “I am very optimistic about economic growth in Nigeria. I believe that ICT technologies are going to play a more important role in this process and Huawei is committed to delivering innovative, affordable solutions and dedicated services to Nigeria”.

The company’s plan over the next five years is to enlarge the ICT infrastructure and build a better connected Nigeria.

Huawei’s core business in Nigeria is consistent with its global strategy which includes carrier, enterprise and consumer businesses.

“We provide products to our carrier customers to build their networks and offer integrated solutions to the enterprise customers as well as provide devices such as smart phones, tablets and home devices”.

Huawei’s most significant contribution to the Nigerian telecoms market is its dedication to bridging the digital divide and

Frank Li MD, Huawei Nigeria promoting broadband penetration. Working with Nigerian telecom operators, Huawei has built backbone transmission networks spanning over 7,000 km and constructed over 18,000 mobile base stations.

The number of mobile users has increased from 27,000 in 2000 to more than 117 million today.

The penetration rate has also risen from 0.02% to 83.7%. And voice-call charges have decreased from US$1 per minute to about US$0.06 per minute. Thanks to Huawei’s efforts, millions of people have been able to make their first phone call and enjoy affordable communications services.

“After 16 years of development in Nigeria”, Li says “Huawei has received an excellent response from the market and aims to expand its investments in the coming years. To this end, the company has set up strategic alliances with powerful local partners and secured a WIN-WIN business partnership, Innovative and dedicated solutions for our customers’ needs.

Positive alliances All these inroads have been made to bring genuine and significantly value to our customers”. As all positive alliances unfold, the major challenge the company faces in its quest for growth and opportunities is how to bring innovative technologies and solutions as well as dedicated services to Nigeria.

In the face of these hurdles, Li thinks there is light at the end of the tunnel: “The infrastructure still has room for improvement. This is not just Huawei’s challenge but one for all the players”.

Corporate Social Responsibility is an integral part of this telecommunication giant’s business model and it’s hugely embedded in all its business processes. The company ’s standards for promoting ICT efficiency is a good example of this.

In a move towards improving

BIO BRIEFS Frank Li, as Managing Director of Huawei Nigeria sets targets, and spares no effort to achieve them along with his team C M Y K

the CSR reputation of the company, Huawei recently partnered with the government of Nigeria to provide 2000 Information and Communication Technology and ICT training opportunities to young Nigerians in 2016 under “Huawei’s Seeds for the Future programme”.

During the launch of this initiative, the company stated: “Huawei has long been committed to developing Nigeria’s ICT sector, and is working hard to build a Better Connected Nigeria.

Cutting-edge ICT technologies At the same time as delivering cutting-edge ICT technologies and services to Nigeria, we are also committed to fostering a skilled local ICT workforce.” The company went on to reiterate that: “As a leading global supplier of ICT products and solutions, Huawei will continue to share its global experience in the development of the ICT industry with the Nigeria government. We hope to become a strategic partner to the Nigeria government in future ICT planning and development, and will continue to expand our contributions and training programs in Nigeria”.

The literal meaning of the Chinese word H-U-A-W-EI is “Splendid Achievement”.

The company was founded

•Frank Li

in 1987 and in a relatively short “the CEO and founder, Ren time has become a multinational Zhengfei, said, ‘we can learn. We company exceeding the market should learn management share of many of its competitors, experience from other including multinational giants companies’. like Nokia and Ericsson. Indeed, So, Huawei invested heavily in there are few examples of newly management. And it is the established multinationals that Huawei employee shareholding has conquered the global market mechanism that has enabled within a short period of time. How employees to share the success does one explain this fast of the company. 84,000 of our development? Was it thanks to employees hold company the huge Chinese market which shares. And the biggest enabled Huawei to grow before individual shareholder is Mr. it became global? Li explains that Zhengfei, our founder. He only the rapid growth is due to the has 1.4% of the company shares.” company’s focus on customer In fairness to Western vendors, needs and heavy investment in they have never had the R&D, technology and innovation. opportunity to run a company in In the past 10 years, the Chinese the way that Huawei’s founder Telco has invested more than $30 has. With access to a huge workforce that billion into all expected far these focus areas. lower rates of pay Huawei has than their a l w a y s W e s t e r n emphasized the counterparts, importance of H u a w e i adapting its marketed itself products to the initially to the needs of the MNOs on price, customers. In the picking up Our focus is beginning, business in Huawei products to work with emerging were hardly stakeholders markets from present in the carriers with less market.

The to build a money to spend. company ’s better While this kept technology the firm out of the wasn’t better than connected top tier carrier that of its Nigeria market during its competitors. The early years in the cities were game, the dominated by situation today is f o r e i g n companies. But this gradually altogether different.

Now an established provider to changed. Huawei focused first on China’s rural areas that had been the premier league of mobile ignored by its competitors and carriers, Huawei is in an even started to develop better solutions better position to press home its than they did. It also invested advantage. In validating this heavily in R&D and adapted argument, Frank Li explains: products to the needs of local “The major driving force behind customers while competitors Huawei’s rapid growth is reacted slowly. Today Huawei development in customer needs products are present everywhere and technology. in China as well as around the world. Huawei is the vision of Established Ren Zhengfei, the Chinese provider businessman who built Huawei into arguably the Over the past decade, we have m o s t been investing more than 10% disruptive of our sales revenue into R&D. infrastructure Because no matter how the player in economic environment changes, the mobile we believe that only by market. continuously investing in “ W h e n technology will we be able to Huawei provide the highest returns to was still our customers. v e r y Among the 150,000 Huawei small”, employees worldwide, 45% of Li says them are engaged in R&D. Therefore, our successors should not work for authority or money, but rather for this ideal. As long as they pursue this ideal, they will be able to lead the company successfully”.

The one part of Frank Li’s personal nature that has contributed to his success as Managing Director of Huawei Nigeria is that once he set targets, he spares no effort to achieve them along with his team. His focus is to keep working with stakeholders to build a better connected Nigeria.

“Huawei will follow the strategy of localization, investment expansion, and technology transferring and talents cultivation in order to share our business success with Nigerian partners”, he pledges.

36—Vanguard, MONDAY , MARCH 7, 2016

Rev. King to die by hanging Akin Malaolu HE sentence is right but in this modern time and because we have witnessed too much deaths, I shall ask Nigerians to plead for communal of the judgement to life imprisonment to make him a case study to Overseers and their wives who have mastered the art of preaching hate sermons.

This type of situation equally existed amongst our muslim folks also.

Parents must make it a duty to follow their wards to church to listen to sermons been preached if for any reason the children should change from the traditional family church to another.

T

Samuel Okezie The fact that supposedly sane Nigerians listen to mad men and believe all sorts of rubbish is my bigger worry. This man clearly has a mental illness. They should nicely put him to sleep if he poured petrol on anybody.

Yinka 2010 What an end to an ignoble and odious life!

Now the bigot will go and play god with God! I watched on TV a couple of times in the mid 2000s when he was at the zenith of his befuddled malady.....the way he postured as ‘god’ and had his adherents sang his ‘adulation’ is sickening.

Now if he’s God he should save himself from the hangman noose!. There is another one like him in Ibadan who calls himself Guru Maharaji .

I know his own day is also around the corner, I wonder if his ‘church’ is still alive? Investigative journalists should give us insight into the members’ take on the sure death awaiting their’God’!

PINCO yinka 2010 He does not need to save himself from the hangman’s noose to prove that he is God. He should have shown mercy and compassion to the people who worship him which shows he is not God. For the true God is a God of mercy and compassion.

They begged for forgiveness on trumped -up charges and Rev. King who claimed to be God did not show mercy.

Jungle cat yinka 2010 How did Emeka end up like this. Two time Mr.

Unizik. The first time I saw his poster in Lagos , I was so surprised and thanked God that he is working for him. How did he become so power drunk. Agbalagbala you mismanaged your gift

David Adeniran Sitanda Christianity is not a fraud but some supposed Christians and Christian leaders are the fraud.

That does not make the religion a fraud.

Fulani herdsmen rape our women, destroy farmlands — Ogun monarchs Buchim Solomon Ayo, this Fulani people started this from Benue state. If it had been addressed then, it wouldn’t now happen to innocent Yoruba women. We are so afraid to speak the truth because the first person who speaks out is likely to face the music or go to jail . If this is not the case, how do we expalin the situation where people are just complaining and no concrete steps are taken to stop the trend.

Why won’t there be conditions given to cattle rearers on how they should go about their business without disrupting other people’s business.

Everybody is afraid because Buhari is the president and the Fulani herdsmen are from the north.

Though we are trying and forcing Nigeria’s unity while some set of people are seriously working hard to disintegrate our oneness. These set of people are :our political leaders who see evil and refuse to correct.

Maverickdisqus All the blame should go to our weak governors in the Southwest, South South and Southeast. There is no part of our constitution that forbids any state from banning nomadic cattle rearing.

Govt wants Nigerians to know what we’re suffering — Lai Mohammed Unude 28 Mr. Lai Mohammed you talk to much. Are you not tired of lying. Today this, tomorrow that. Tell Buhari to work. He’s now the President of Nigeria, the position he has been fighting for has been given to him. Let him work and he should forget about the fake fight he claims he is fighting.

Mushin @Unude If he is fighting fake fight, the looters will not be crying to return the stolen resources. Get yourself a functioning brain.

EDU Lying comical liar Mohammed, the only reason Nigerians don’t seem to care any more is because they are tired of your constants lies and propaganda. It looks like the only job you do as Information minister is to dish out allegations and lies against the previous government. Nine months since APC took over government, our naira has become a toilet paper and the APC seems not to care.

Abdul vic Silly people must be called their real name even if it hurts them. A minister who has real information just explain how the nation would have grown but for corruption and the only thing that buffon can say is to call it a lie and a propaganda.

Rex Obieze Oliver Bring back our corruption.

With Corruption a bag of pure water was N80 without Corruption a bag of pure water is N150. With Corruption dollar was N180 without Corruption dollar is N420. With Corruption I have 20hrs electricity at low tariff without Corruption I have 7hrs electricity with 45% increase in tariff. With Corruption keke to my house took N50 without Corruption keke to my house is now N100.

WithCorruption smallest Indomie was N40 Without Corruption smallest Indomie is N60. The list can go on and on but I just have to end it and take a stand...... # IStandWithCorruption #Bringbackourcorruption. #BuharibringbackNigeria. #Bringbacknaira.

FAVOUR: If with Corruption Dollar was 180:> and without Corruption Dollar is now 367, Brother and Sisters, you will agree with me that we need corruption in this country...: Titus Sardine started with 4 fishes, it reduced to 3. Then now it’s 2. In years to come, you’ll open Sardine and see “Try Again”.

The-govt-wantsnigerians-to-know-whatwe-are-suffering-laimohammed/

Ban on tinted glasses, siren and SPY number plates THE former Inspector General of Police banned the use of tinted glasses, sirens and SPY number plates. The directive on the former IGP has impacted negatively on innocent citizens whose vehicles have factory- fitted tinted glasses. There is no ban on the importation of such vehicles.

The present Inspector General of Police should as a mater of urgency exclude such vehicles from the ambit of the ban.

We appreciate his good intentions but if this is not done urgently he will have yet opened another painful regime of police harrassment of innocent citizens on our highways and streets in the name of checking abuse of or illegal use of tinted glasses.

Anonymous 08036662923

2016 budget and NASS’ magic It beats every Nigerian’s imagination that the Senate said the 2016 budget presented to the NASS is missing as alleged.

Budget that was sent to the Senate and House of representative before the Christmas. This is ridiculous!.

Why the delay on implementation despite the hardship the citizens are undergoing. Nigerians and Nigeria Bar Association should be focussed to shun NASS’ magic game on total implementation on budget that has been passed to it for approval since December 2015.

Otugo 08067557715

Filling stations rejects purchase of petrol in kegs Petrol stations now refuse to sell fuel in kegs for generator users , only to car owners in a country where power outage reigns supreme! How do we generate power to do mundane things like having light in our homes ? Maybe we have to carry our generators to the filling stations. With the availability of other sources of energy generation like solar, wind, coal and thermal, we are still stuck with oil and gas. How long do we have to go on with this stone mentality?

The budget for energy 2009 should

have brought us to the space age. We cannot go on like this. Something must be done and quickly too to get us out of this lethargic state we are in. The energy ministry should give us a monthly update on what is being done to improve the power situation The giant of Africa must wake up from its slumber.

Olanrewaju Alabi 08023366255

On new electricity tariff In a civilised society, the government would have provided meters to all, generated and distributed adequate electricity then raise tariff. Good decision, but in Nigeria our leaders are always on the reverse gear. “They apply cream all over before a bath”.

Ugonwanne 08064091428

Reduction in import duties and smuggling The Federal government should reduce import duties so that smugglers will have no reasons to smuggle in goods, while the Customs officials will have no reasons to collect bribe.

Romanus 08057123287

Insecurity and bad leaders Daily, our newsstand are awash with reports of bombing, kidnaps, assassinations, armed robberies, arson, militant attacks and related acts of violence perpetuated against the innocent Nigerian citizens and foreigners alike.

All these insecurity problems across the nation was as a result of people’s anger that led to revolt against government’s high level of social injustice and human rights abuse against the poor masses and failure of government to tackle high level corruption and unemployment confronting our youths, despite Nigeria’s rating as one of the richest oilrich nations!

How can peace pervade under these prevailing circumstance? President Buhari should please do away with bad politicians and address the issue of insecurity and citizens welfare.

Barr Jezie Ekejiuba 08036095750

Corrupt charges against exgovernors

It’s sad that former governors and corrupt politicians who were accused of stealing billions of naira while in office are still walking the street as free persons and even privileged citizens. It is only in Nigeria that such cases are treated with levity.

Segun 08103142615

SAYINGS OF OUR ELDERS Give thanks for a little and you will find a lot - Hausa proverb

Send us your Sayings of Our Elders. They must be African sayings or proverbs.

Biblical or English proverbs are unacceptable. Address your sayings to: editor@vanguardngr.com

Vanguard, MONDAY, MARCH 7, 2016—37 YOUR LUCK TODAY

LEISURE

By Joshua Adeyemo Phone 08056180139 ARIES; It’s true you’re willing to work harder but you just have to drop both aggression and mental arrogance to allow things to roll accordingly. Then, you’re accident prone within your working arena. Respect the law and its agents today.

TAURUS; Serious thought may be giving to matters of the heart but it’s better you tarry a while. Joint ventures of short duration today may be an invitation to avoidable trouble GEMINI ; If you back your financial plans with concrete and positive actions things’ll go according to your desire. If you fail to realise importance of your spouse you would work your way into avoidable trouble; aren’t you tired of crisis?.

CANCER; Your intelligence, competence and level of concentration may today bring you envy, which you don’t deserve within your working arena in a negative form but, you’ll succeed.. Entertain no fear, and take advantage of your sex-appeal for love.

THOUGHT FOR TODAY

By Richard Eromosele

R

IGHT from ages man has continued to look for ways of clothing his nakedness. Nakedness does not just mean not wearing clothes alone. It includes covering our evil deeds,

God is watching wicked acts, ways and sins etc.

As it was the days of the biblical Adam and Eve, so it is today.

When we commit heinous crime, we run for cover under the stone,

TERROR MUDA

under the water and under the dark, hoping and praying that we will not be caught.

We live a lie. We forget that air bear witness to our cruel act; the sun by our shadow

in “Scavenger Elite”

takes our photograph, and our conscience convicts us daily.

Beware, God is watching. Your sins will find you out.

Think about it!

By Lanre Kehinde

LEO;. Placement of the Moon highlights your Solar second house of money which is good but, if you try to buy true love with money, you’ll be disappointed.

VIRGO; The. Moon in your Star sign’ll gives you new confidence and with new supports from the powers-thatbe, it’s like you are now un-stop-able. But be cautious, especially with the veterans within your base of operation.

LIBRA; It is your day. But you will need to do away with non-productive argument and/or agreement. Try to be more diplomatic now.

SCORPIO; If what you’re doing today’ll depend on tomorrow’s event it’s better you’re more careful now. Even things may not go according to your personal plans today. Yet it’s important you plan both your immediate and far future carefully now SAGITTARIUS; If you take to aggression, your ego would be deflated by your superior colleagues, but your being co-operative in a civilised way’ll prevent trouble.

KAPTAIN AFRIKA

in “HEY’

By Andy Akman

CAPRICORN; Those willing to put you to shame one way or the other ’ll be disappointed with the turn of things today. It’s good to secure support of your spouse.

AQUARIUS; You’ve had enough of fun in the recent times and it’s now time you settle down for hard work in order to prevent avoidable trouble. Be patient please.

PISCES; Your concentration level and determination are the pillars of your success today. Yet you’ll need to respect your senior colleagues and protect your image.

ASTROLOGICAL COUNSELLING Send yyour our dat th ttoo the As tr ological datee and place of bir birth Astr trological Counselling, PP.M.B .M.B 1100 00 7, Apapa, Lagos 007,

Sagittarius please!!!

Dear Joshua, Kindly give me characteristics of Sagittarius Dunni, Lagos.

VIRGINIA

dadadekola@yahoo.com

Dear Dunni, Here-under are basic characteristics of Sagittarius BASIC CHARACTERISTICS OF SAGITTARIUS Sagittarius is a mutable sign by its quality. It ‘s element is fire, symbolised by half horse half man and/or an Archer aiming at the sky. Mutable means changes and experimentation, while fire is all about enthusiasm, taking of the initiative and leadership ability. Thus, you are the type that will exhibit strong interest in an important project that catches your fancy and you will not mind to experiment with ideas just to achieve your objectives and aims.

Sagittarius is 9th of the twelve Zodiac signs that rules philosophy, RELIGION, law, foreign land, higher mind/ higher institutions, lawyer, long (distance) travelling, inlaws, future, optimism and bluntness. Major problem or weak points of Sagittarians are excessive openness/bluntness and sometimes fanatical approach to religion.

Being a born adventurer, you are not afraid of exploration and new beginning. Sagittarians are incurable optimists and ever ready to listen to and eager to believe others. Honesty is truly in your inner self You are a tolerant person but you are not ready to compromise your FREEDOM Sagittarius as a fire sign can make you a quick tempered person. Half horse half man as the symbol, of Sagittarius indicates dual (double) personalities known in different circles with different personalities. Yet, you are not a pretender. As the Archer aims arrow into the sky so also Sagittarians have many lofty ideas and ambitions. But sometimes their ideas and/or ideals are not practical enough for realisation. Many times, they start too many things at the same time only to .either forget or lose view of their original target.

Development of practical approach is more important for Sagittarians this is in order to make success of many of their brilliant ideas, otherwise they tend to become dreamers.

HOME & ABROAD

By Lawrence Akapa

38—VANGUARD, MONDAY, MARCH 7, 2016

Why I was called baby Commissioner — NDOMA-EGBA diate past THE imme e Senate, Leader of thtor NdomaSenator Vic in this , Egba, SAN ead of his h a w , inter vie y tomorrow a th d th ir b 60 is life speaks of h . s experience

By Johnbosco Agbakwuru

H

OW do you cope with the everyday activities outside with the National Assembly?

First of all, I had a life before the Senate and this year, I will be 38 years at the bar and I was in the senate for 12 years which means that I have 26 other years to account for and I spent those 26 years actively in court.

I was into litigation, I was a courtroom lawyer. I had a life before the Senate and I knew ab initio that in life whatever has a beginning has an end and I knew there would be life after the Senate and fortunately for me, I had an alternative address. If I am not in politics I am in law. So, I am back to law practise for now but still actively involved in politics.

It appears you started so early in politics. What was the encouragement?

Well if you put it another way, I started very early in life and from my part of the world, I was probably the first to graduate at 21 or before 21, to be a lawyer at 22, by 23, I was done with it all and it is God’s grace because in spite of the civil war which we experienced, I never lost one day of schooling and because I had the unique privilege from my part of the world perhaps amongst the first if not the first who had an educated father and educated mother who was a teacher at the time, I was exposed to school environment early because I started following my mother to school even before I was eligible.

Now in those days eligibility was measured by your ability to put your hand over your head.

How they came by that method I don’t know but you know that if you are not six years old at least you won’t be able to do that. Even

C M Y K

before I started school, I was already familiar with the school environment and by the time I started, I was already familiar with what was being taught. So, for me, life started early and by the time I was 16 I was a regular contributor to the Nigerian Chronicle which was the big newspaper then in my part of the world.

So, everything has come early for me. Now, about politics, I grew up in a political environment because as a child growing up my mother was the chairman of Ikom county council, now we call them local government. She was the first woman in Eastern Region to be a chairperson of a county council. So I grew up in that environment where politics was discussed, where politicians were mingling and all that.

Political side and legal side So, you can effectively say that I was born into politics more or less. I took the political side from my mother and the legal side from my father.

You may have had your ups and down, can we know some of the regrets you have ever had in life?

Regrets, I won’t call them regrets, I will rather say disappointments but whether they turn out to be disappointments eventually, it is a matter of time. I will give you one; as a child growing up, I had hoped to be a Catholic Priest but I never became a Catholic Priest.

When I went to read law eventually because I was a science student more or less, and I wanted to read medicine initially, it is a very funny story how I ended up not reading medicine. We had gone to Uyo for the entrance to University of

Ife now Obafemi Awolowo University, a group of young men; four of us and our friend’s father was then the principal of the Advanced Teachers College in Uyo, took us out, and this beer, Gulder had just come out and the four of us drank this new beer called Gulder and we got to the exam hall and we were all sleeping and four of us failed and from that day till today, I have not tasted Gulder and I don’t offer people Gulder!

Outstanding science student In my final year of the A levels class, I was persuaded to read the arts, and guess who persuaded me; Dr. Ogbonaya Onu who himself was an outstanding science student. He was our dormitory prefect and listened to an argument between my friend and I, my friend who just retired as an ambassador, Ambassador

If we want any improvement in the screening process, then we have to take a second look at the constitution, make provisions for the AKEREDOLU president to disclose ab initio how he intends to deploy his ministers

Mark Egbe.

In the school environment siesta time was supposed to be a period of absolute quietness, but Dr. Onu got interested in the argument and so he didn’t punish us. At the end of the argument he admonished us but told me, I think you are pursuing a wrong ambition, I think you should read law and be like your father and the rest is history.

I changed my courses about three, four months to the exam to History, English Literature and Economics. So I eventually ended up reading law which again was an accident but when I read law, I read law to teach law I wanted to read law up till PhD level and become a professor of law and again, I am not that professor of law.

When I went into politics, I went into politics to be the governor of my state, again, that never happened. So you can summarize my life by saying, I never became what I desired to be, or I never became what I set out to be, I became everything that I didn’t set out to be.

At 27 you were a commissioner, at that young age how did you cope with the challenges of the office?

Actually I was exposed to public office as soon as I came back from Youth service at the age of 23 President Shehu Shagari appointed me to the board of Cross River Basin and Rural Development Authority. I was 23 going to 24 and at the same time, late Dr. Clement Isong who was the then governor of old Cross River State also appointed me as the first old student to become the chairman of the board of governors of Government Secondary School, Ikom.

I will explain that in due course because I actually passed through two secondary schools. I was 23 going to 24. So, I had always

virtually all my life been in positions of responsibility and that is why I didn’t have a youth.

Meeting with his commissioners Two weeks ago we buried the governor who appointed me commissioner, Navy Captain Edet Archibong. He had never met me, never heard of me, and I realised that I had run into him once in a lift in Switzerland.

I had an uncle who was a diplomat, he was in the navy and they were in Switzerland for a programme and he was staying with a friend in the same building my uncle was, so that was the only contact, apart from greeting we didn’t speak, we didn’t have any relationship and I remember, we were appointed in January of 1984 but we were sworn in early February and in between he had to meet his commissioners.

So he walked into the Executive Council hall we were all standing, of course he knew most of them, so he was shaking their hands and I was standing in between the commissioner for health and the gentleman who became commissioner for trade and investment.

So he shook the lady and skipped me and was going to shake the other guy, so I grabbed his hands and said why are you not shaking my hand? So he looked at me and said don’t tell me you are one of my commissioners? And I said I am unfortunately and he said oh my God I have appointed a baby. So the next day in Daily Times a headline ‘Baby Commissioner’.

And how did I cope? We had a group of very young professionals in Calabar then, we are all very big men today; journalists,

Continues on page 39

VANGUARD, MONDAY, MARCH 7, 2016 — 39

Continues from page 38 lawyers and we were all bachelors so every evening I had this bungalow with large ground in front, we will assemble there over barbecue and we will be debating the future of Cross River and we asked hypothetical questions; if you were made this what would be your programme, if you were this what will you do? I remembered one of the last conversations we had before the appointment I was asked if you were commissioner for works what will you do and we debated my ideas and that became my programme when I ended up as commissioner for works a few weeks after the conversation.

So, we already had a plan and all of the members of that group became very prominent people in the society, they held high political public offices and they just executed what we were discussing and they all became very big men in the society. So we grew up in an environment where young people had dreams, where young people were ambitious.

I remember even as a lawyer I was quite active in ANA; Association of Nigerian Authors when we had a group that was made up of professors, senior civil servants, lawyers just to read poems. Then we had another group that met once a week just to listen to Congo music, we had another group that met once a week just to play scrabble.

Fighting the civil war That was the environment that defined my youth, so I was an old man long before I became old.

Is that why people accuse you of being elitist?

I don’t know what they mean by elitist, one if you know me, you will not describe the person who receives that kind of traffic as elitist but if you say that I don’t drink in public or I don’t go dancing you will be right because I have already explained to you why I don’t attend parties.

Given the opportunities you had as a young man, do you think such opportunites are still available to the younger generation?

If you take the people that fought the civil war for instance, most of the big names such as Danjuma, Mohammed Suwa, Murtala Mohammed they were in their 20s at the time they fought the civil war. If you even take governance, how old was M.I Okpara, how old was Awolowo, how old was Zik? Then if you take my state for instance, Cross River, our first governor U.J Esuene the old state was 32 the time he became governor, Paul Omu who took over from him was 36, Elegbede who took over from Paul Omu was 37, Dan Archibong was 42, Inim Princewill was 39, clement Ebri was 39, Donald Duke was 37. So in the history of Cross River State Ben Ayade is C M Y K

actually the oldest governor we have had. So I agree that the constitutional provisions that make it impossible for people to express their endowment are not in the best interest.

Maybe for judges, there might be need for a certain minimum but for any other thing I think people should be allowed to express their gifts.

What is your perception of the rate of turnover of legislators in the N a t i o n a l Assembly?

Now if you take the executives, if you are elected president today you won’t be lost because you have a very elaborate bureaucracy to guide and help you.

If you go to the judiciary apart from the bureaucracy you have what they call the hierarchy of courts, one court decides , if you are not satisfied you go to the next court and by the time you get to the final court a precedent is established but beyond that, the judiciary heads all over the world one of the most sophisticated archival system and that is why if you are looking for a judgment in a land case between your community and the next community that was given in 1890 something, they can find the judgement, the archival system is very sophisticated.

You also have an elaborate bureaucracy so there is certainty just like you have in the executive.

Now if you take the legislature you have a bureaucracy that sets the institution but what makes that institution is the aggregate of the members of the institution and each of those members has its own small bureaucracy around him, the records are personal to him or her, the knowledge is personal to him or her, the contacts are personal to him or her.

Small bureaucracy So the day you are leaving you leave with everything so the average legislator is like either a snail or a tortoise, he carries his house with him.

What is your assessment of the way the present National Assembly attended to the screening of ministers and the budget as compared to the practise in the past?

Let me say that for the screening of ministers for as long as the constitutional provision is the way it is, it cannot get any better. Until the president is required to disclose upfront how he intends to deploy the ministers he is proposing, you can only ask them general questions. So if we want

How Ogbonnaya Onu derailed my medical career — NDOMA-EGBA

any improvement in the screening process, then we have to take a second look at the constitution, make provisions for the president to disclose ab initio how he intends to deploy his ministers so that people can now ask them questions that are specific to the area that they are going to be deployed to. Now for the budget, I think it was only in 2013 or 2014 that we passed the budget in February or so, now we have the F i s c a l Responsibility Act that envisages that the budget will be operational at t h e commencement of each financial year.

If you check the provisions of the act it tells you when certain steps should be taken, when the call circulars are issued, when the frame works are sent to the National Assembly and all of that and they are expected to be done latest by September.

But those provisions of the law have never been observed. You get the b u d g e t proposals usually November, December

and there are always issues in the budget.

I think my solution is that the executives should first and foremost respond to the obligations in the fiscal responsibility and other budget related legislations to make sure that the time frame in those legislations are respected.

You will be 60 by Tuesday but

you look younger than your age will you like to be up to 100 years?

You see it is God that gives life.

My driver is a Muslim and he has been driving me for 27 years and when I lost my partner many years ago he told me by way of consolation that the day you are born God also puts your expiry date or your exit date that same moment and that not even a senior lawyer like me can get an adjournment. So I believe that my expiry date is already put down so what I wish or desire makes no difference, God has already determined it and to Him be the glory.

What will be your suggestions to the parties the way to go?

Let me say this, the way the parties are structured the governors are very powerful and they have appropriated the ownership of the parties and because the governors all want to end up in the Senate it is going to be a frightening spectra because in another three, four terms, every senator would have been a former governor. So for me the prognosis is not good at all and it is time for the political parties to begin to redesign their internal processes to make sure that the governors remain important but do not appropriate ownership of the party.

40 — Vanguard, MONDAY, MARCH 7, 2016

Vanguard, MONDAY , MARCH 7, 2016—41

42—Vanguard, MONDAY , MARCH 7, 2016

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44 — Vanguard, MONDAY, MARCH 7, 2016

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Secretariat: How Lagos Govt cost FG N54bn in damages

T

HE Federal Government has been ordered to pay N54 billion in damages to Dr. Wale Babalakin’s Resort International Limited, in a decision handed down by an Arbitration Tribunal late last year, it has been revealed.

The Arbitration panel concluded that the Federal Government “has not shown any extenuating circumstances for its flagrant violation of its covenant under the DLA. The Respondent did not even try to address these points of the Claimant as to its general loss of business, reputation, goodwill and credibility.”

The Tribunal awarded damages as follows: N12 billion as direct expenditure with Interest at 17.26% from September 2008; N9 billion as loss of expected income with Interest at 17.26% from September 2008; and N5 billion as special damages.

The totality of the awards means that as at January 2016, the Federal Government owed Resort International Limited, N54 billion which continues to accumulate interest at

17.26% per annum. The Tribunal also confirmed Resort International Limited’s title to the Federal Secretariat property.

The Arbitration Award is a major vindication for Babalakin, whose company was granted a lease to develop the Federal Secretariat Complex in Lagos into residential properties only for the project to be controversially stalled.

It will be recalled that Lagos State Government had stopped works on the site in September 2007 with the use of dozens of mobile police men and street urchins, popularly known as ‘area boys.’ The stoppage was the culmination of alleged series of actions by Lagos State government to stop the project.

The Tribunal heard that Babalakin “has been discredited by several banks and organisations as a result of the negative press which occurred as a result of the failure of the project.”

How consultants bungled FG 2016 budget

By Emma Ujah, Abuja Bureau Chief

T

HE decision of the Presidency to rely on the Federal Public Administration Reform Programme Nigeria, FEPAR, rather than the traditional Budget Office of the Federation and the Federal Ministry of Finance may have been responsible for the errors that messed up the federal government 2016 budget.

FEPAR is a development partner-funded initiative which works towards a more transparent public finance administration at the federal level and has been working on several fronts towards realizing that objective.

It was learnt that the presidency which took a decision last year to adopt the Zero-Based budgeting process employed the services of officials of the reform programme to play a key role in preparing, President Muhammadu Buhari’s first budget in office.

The thinking of government officials at the presidency was that there should be a clear departure from the old system in which Ministries, Departments and Agencies, MDAs, were allocated envelopes from where they undertook expenditure, as

accountability and transparency were said to be difficult under that system.

Aggrieved officials of the Budget Office revealed that they were been held responsible for errors that were not theirs. It was learnt that faced with the enormity of the budget preparation, FEPAR officials had to hire ad-hoc staff who didn’t have requisite experience in budget preparation to handle critical aspects of the allocation of funds to MDAs. The adoption of a template other than the Government Integrated Financial Management Information System, GIFMIS, by those who prepared the budget created more problems, it was learnt. GIFMIS is an IT-based system for budget management and accounting and provided the solution for federal budgets in the recent past.

“When the first submission came in, BOF on invitation for an integrity check exercise at the banquet hall of the State House, complained of the noninvolvement of Budget office officials as submissions collated by FEPAR and the MBNP were not usable."

Former US First Lady, Nancy Reagan dies at 94

F

ORMER First Lady Nancy Reagan has died at home in California at the age of 94.

Mrs Reagan, who had been living in Bel Air, Los Angeles, died of congestive heart failure, the Reagan library said.

Her 52-year marriage to Ronald Reagan was once described as the US presidency ’s greatest love affair.

From 1981-89, she was one of the most influential first ladies in US history; initially criticised for an expensive renovation of the White House, but

Nancy Reagan later becoming a muchloved figure.

She will be buried next to her husband, at the Ronald Reagan Presidential Library in Simi Valley, California, the library said in a statement.

Former Republican presidential candidate

Mitt Romney tweeted that “with the passing of Nancy Reagan, God and Ronnie have finally welcomed a choice soul home”.

Stepson Michael Reagan tweeted: “I am saddened by the passing of my stepmother Nancy Reagan... She is once again with the man she loved. God bless...”

Like Ronald, Nancy was a former Hollywood performer who made it all the way to the White House. As Nancy Davis, she was an actress during the 1940s and 1950s and married Reagan, a prominent film actor, in 1952.

Iranian billionaire faces death for corruption

B

ILLIONAIRE Iranian businessman Babak Zanjani has been sentenced to death for corruption, justice officials say.

He was arrested in December 2013 after accusations that he withheld billions in oil revenue channelled through his companies. He denies the allegations.

Zanjani, 42, was convicted of fraud and economic crimes, a judiciary

spokesperson said at a press briefing.

One of Iran’s richest men, Zanjani was blacklisted by the US and EU for helping Iran evade oil sanctions.

Two others were sentenced to death along with him and all were ordered to repay embezzled funds.

The ruling can be appealed.

In a separate development, a cargo of Iranian crude oil arrived at a

Spanish refinery in San Roque on Sunday, the first delivery to an EU state since sanctions were lifted.

The Monte Toledo offloaded 1m barrels at the refinery belonging to Spanish oil company Cepsa.

Before the oil embargo imposed by the EU in 2012, one in every five barrels of crude Iran exported was sold to refineries in Europe.

SDGs: African scientists bemoan poor research, development

By Chioma Obinna, who was in Kenya XPERTS attending the 2016 Grand Challenges Africa, GCA, in Nairobi, Kenya, have recognised that Africa lacks the transformative research and development (R&D) required to achieve the 2030 Sustainable Development Goals, SDGs. The week-long meeting was also an avenue for innovators to lay ground works for a sustained, scientific advocacy effort to increase international and local African investment in R&D. The 2016 event which featured 475 participants from 43 countries focused on mobilising African resources to generate and scale innovation in the region.

It also deliberated on how to put women and girls at the centre of development and possible innovations to reduce maternal mortality, burden of communicable and non communicable diseases, mental health as well as possible ways of reducing deaths of children and newborns.

E

Speaking at the opening ceremony of the 3-day conference, the Executive Director, African Academy of Sciences, Berhanu Abegaz noted that the forum was a renewed confidence in the African future.

He said partners have invested $120 million in 380 projects in 29 African countries since 2010.

He said Nigeria received about $8.6 million

of the investment for the 28 projects.

Grand Challenges Africa launched in September 2015 by the African Academy of Sciences, the New Partnership for Africa’s Development and international partners would research, develop and drive the innovation necessary to achieve the continent’s long-term SDGs.

Trump, Cruz seek ‘one-on-one’ battle

U

S Republican presidential front-runner Donald Trump has called for a “one-on-one” battle with Ted Cruz, urging other rivals to quit the nomination race.

Mr Cruz also suggested it was time for other hopefuls, like Marco Rubio and John Kasich, to step aside.

Mr Trump and Mr Cruz won two states each in Saturday’s voting.

In the Democratic race, Bernie Sanders took two states - but Hillary Clinton maintained her frontrunner status after a big victory in Louisiana.

Speaking after wins in the Republican Kentucky caucuses and Louisiana primary election, Mr Trump told a news conference: “I would love to take on Ted Cruz one on one.”

“Marco Rubio had a very bad night and personally I call for him to drop out of the race. I think it’s time now that he dropped out of the race. I really think so.”

Meanwhile, Texas Senator Mr Cruz - who won Republican caucuses in Kansas and Maine - said he believed that “as long as the field remains divided, it gives Donald an advantage”.

46 — Vanguard, MONDAY, MARCH 7, 2016

Egypt seek special permit to land in Kaduna E

GYPT have concluded plans to arrive in Nigeria for the all important Group G Africa Cup of Nations qualifier against the Super Eagles in Kaduna

later this month.

Sources in Alexandria, Egypt said that the team will hit Nigeria on March 22, three days before the clash as they seek to consolidate their

lead in the group.

The team will gather in Alexandria, where they will go to Cairo and then connect a chartered flight to Nigeria.

However, the Egyptian

authorities are trying to seek a special landing permit from the Federal Airport Authority of Nigeria (FAAN) to land in Kaduna.

The Egyptian advance

MKO U-20 championship gets date T

Latec M K O Abiola

HE First Moshood Kashimawo Olawale (MKO) Abiola’s maiden U20 football championship has been slated to kick off May 13, 2016, at the Campus Mini Stadium, Ajele play ground on Lagos Island.

Organisers of the tournament, which is aimed at immortalising late business mogul and politician, Chief M K O Abiola have disclosed that entry forms for the championship are free and the deadline for the return of the completed forms is April 30.

No fewer than 50 local clubs will jostle for the coveted trophy and prize money.

According to the organizers of the championship tagged ‘’Afo Football’ championship, the

objective is to commemorate the late Pillar of Sports, late MKO Abiola who single handedly sponsored clubs and promoted grassroots football development.

Speaking to journalists in Lagos to announce the championship, the organizer, Afolabi Onanaike (a.k.a Afo Guarantor) said he was inspired by the great deeds of the late Business Mogul, hence the need to immolates him by using the opportunity to discover talents.

“The final of this championship would be played every year. And it is dedicated to Abiola the Pillar of Sports.

“The competition is strictly for U20, we will not allow over aged players because the essence is to discover players young."

party reckons it will be easier to land in Kaduna than Abuja which translates to the Pharaohs taking an additional one and a half hour road trip to Kaduna where the game will be held.

The Super Eagles are second in Group G with four points after two games. Egypt lead the pack with maximum points from two matches.

Tanzania and Chad, who face each other back-to-back are in third and fourth place respectively.

Cuper

Red house wins LASPOTECH Chikki sports meet

R

ED house (Bankole) emerged victorious at the Lagos State Polythechnic Staff Nursery and primary School 12th Annual Interhouse sports competition sponsored by Chikki instant noodles.

The champions won seven gold medals and four silver medals, while second placed Yellow house (Bello) garnered four gold, five silver and six bronze medals. Green house (Omolamina) placed third with three gold, three silver and six bronze medals. In fourth placed is blue house (rector) that popped up from the rear with one gold, two silver and six bronze medals.

In his opening speech, Chairman Governing board LASPOTECH staff schools Mr. Isaac Adekoya stated that “sports is a means through which the psychomotor skills of a child is developed . It promotes understanding, love and the spirit of camaraderie”.

Vanguard, MONDAY, MARCH 7, 2016 — 47

AFCON Qualifier:

Okpekpe race gets new prize money

Siasia okays Kaduna stadium, hotel

By Jude Opara, Abuja

A

HEAD of the make or mar 2017 African Cup of Nations (AFCON) qualifier against the Pharaohs of Egypt, the caretaker coach of the Super Eagles, Samson Siasia, over the weekend inspected and certified the Ahmadu Bello stadium in Kaduna fit to host the crucial tie billed for March 25.

Siasia equally inspected and endorsed the team’s Continental Suites camps for the match, saying that they met all the necessary requirements and standards for any team to be comfortable and concentrate for such a high profile match.

General Secretary of Nigeria Football Federation (NFF), Dr Mohammed Sanusi, who disclosed this in a telephone chat with Sports Vanguard on Sunday said that he did not waste time

before endorsing both the stadium and hotel after undertaking a visit to Kaduna during the weekend.

“Siasia was in Kaduna at the weekend in company with the assistant director, technical, to inspect the stadium and accommodation for the team for the match against Egypt. He expressed satisfaction after checking the pitch and the hotel accommodation. He said he was okay with what he saw, which means that the visit has watered down the initial impressions he had about the stadium. He said that the pitch is in good condition,” Dr Sanusi stated.

Y

OUTH and Sports Minister, Solomon Dalung has described his

•As NNPC retains soccer gold HELL Petroleum Development Company of Nigeria weekend won the 2016 Nigerian Oil and Gas Industry Games, beating their hottest rivals the Nigeria National Petroleum Corporation to the second place.

However, Team NNPC redeemed its image with a 3-0 whitewash of Shell in the final match of the football event played at the Teslim Balogun Stadium, Surulere on Saturday. It was another gold for NNPC in soccer, second year running.

Earlier, Team NLNG had recorded a 6-5 victory over Team Total to win the third place match after a nail-biting penalty shoot out.

After one week of pulsating competition, Team Shell garnered a total of 14 gold, 14 silver and 9 bronze medals to cart home the overall winner ’s trophy of NOGIG 2016.

Coming a close second was NNPC whose massive medal haul resulted in 13 gold, 15 silver and 18 bronze medals.

Chevron placed a distant 3rd in the log with 5 gold, 5 silver and 5 bronze, while ExxonMobil with 5 gold, 2 silver and 7 bronze

Man -to -Man...Super Eagles defender, Stephen Eze tackles Tunisian midfielder Muhamed Ben Amor at the 2016 CAF Africa Nations Championship.

Can the Super Eagles halt the Egyptian assault on March 25 and 29 in the AFCON qualifiers?.

Dalung: Rio inspection necessary

Shell wins 2016 NOGIG

S

T

placed 4th.

In the 5th position was Nigeria Liquefied Natural Gas with 4 gold, 4 silver and 8 bronze medals, while Department of Petroleum Resources with 3 gold and 2 bronze medals placed 6th. Total with 1 gold, 4 silver and 6 bronze was 7th.

Petroleum Training Institute with 1 gold, 2 silver and 4 bronze were 8 while Nigerian Content Development Monitoring Board took the rear with 2 silver and 3 bronze medals.

delegation’s visit to Rio, venue of the forthcoming Olympic Games as indispensable .

Barrister Dalung made the remark after a three day visit of facilities in Rio to be used by Nigerian athletes during the games.

According to the Minister, the visit was necessary to enable the ministry to plan ahead for the games.

“Nigeria will be taking part in just a few sports and the venues are scattered all over Rio. Our visit to the various venues, some of which are ninety percent ready, was

very essential to enable us to plan for our athletes.

What we saw gave us a first hand information on what to expect in terms of movement, arrivals, accreditation and distance between games venues and athletes village as well as mode of transportation”.

The Rio Olympic Games start from August 5 – 21, 2016. More than 10,500 athletes from 206 National Olympic Committees, including Kosovo and South Sudan for the first time, will take part in the 31st Olympiad.

Nigeria will compete in athletics, canoeing, table

Dalung

Wrestling: Nigeria conquers Africa

Continued from Back Page Olympics in Brazil medals.

Odunayo Adekuoroye pioneered the gold who has already qualified winning feat in 55kg for the Rio 2016 Summer weight class and was followed by Aminat Adeniyi in the 63kg class. Ever dazzling Blessing Continued from Back Page Oborodudu capped it all in qualification for the 2002 [Keshi], the other local coaches have not World Cup was in the 69kg class to account succeeded because they jeopardy. He was replaced for the three gold medals.

Rosemary Nweke and cannot give what they by Shaibu Amodu who Ifeoma Nwoye accounted successfully guided the don’t have to take the team team to the World Cup. for the two silver medals in higher.

“Other foreign coaches But he claimed that he was the 48kg and 58kg weight have also failed because the best man to revive classes respectively while Blessing Onyebuchi in the they come with the Nigeria’s soccer fortunes.

“I have worked in 75kg won a bronze medal arrogant attitude of being Reacting to their outing a world class coach and a Nigeria for a long time in in Egypt, President of the the past and I know what big name to perform magic Nigeria Wrestling to do to get the Super there, and that wrong Federation (NWF), Dr notion meant they had no Eagles flying again.

“I love Nigeria because Daniel Igali described the passion, desire and the that is where my football feat in Alexandria as required knowledge to mentality is most at home building blocks succeed on the job,” He said, “ I am so proud and I have a fantastic Bonfrere told BBC sport. of these girls. All except relationship with the The 69-year-old Bonfrere two, wrestled a weight people there. was sacked when Nigeria’s

Bonfrere

tennis, men’s football, wrestling, Weightlifting and men’s basketball.

HE annual Okpekpe 10km road race will get a new prize money regime the organisers have announced. This year’s race has been fixed for May 7.

Spokesman for the race, Dare Esan said that the top eight finishers will get a total of $92,000 in prize money, with winners in each gender category going home with $15,000 while $10,000 and $7,000 respectively will go to the second and third placed finishers. ‘’The prizes for 4th-8th placed finishers in each gender category are $5000, $3,000, $2,500, $2,000, and $1,500 respectively,’ said Esan who also revealed the introduction of performance bonuses to this year’s race.

“Athletes achieving a world leading time will be eligible for a special bonus, which will be revealed in due course,’ further said Esan who noted that the performance must be an improvement on the existing time.

He further revealed that the organisers of the race were considering using at least a pacemakers to help the athletes in their recordchasing mission. “Pacemakers are runners who lead a middle- or long distance running event for the first section to ensure a fast time and are frequently employed by race organisers for world record attempts with specific instructions for lap times.

This time we are employing them for world leading times,” Esan explained..

class up. Gutsy. “ For 90% of them who have not wrestled competitively for six months, this was an impressive performance.

There could have easily

been two other gold medals if not for the rustiness.

There was some beautiful wrestling by some of the wrestlers. I am sure we will qualify quite a few wrestlers for the Olympics.

These are building blocks”.

Quadri’s Africa’s best Continued from Back

the March 2016 ITTF ranking released yesterday.

From the rating released, Quadri returned to top 30 in the world from the 37th place he was in February while Egypt’s Assar dropped to 36 following the defeat he suffered against Quadri at the ITTF Africa Top 16 Cup in Sudan.

At the just concluded ITTF World Team Championships in Malaysia, Quadri only

lost a match to highlyrated India’s Sharath Achanta while Egypt’s Assar was defeated by lowly-rated players twice in Malaysia. The defeat suffered by the Egyptian affected his drop in the ranking.

With this, the Nigeria may be on her way to Rio Olympic Games in the men’s event as Segun Toriola also made a triumphant return to the ranking to become the third rated African player in the world.

Vanguard, MONDAY, MARCH 7, 2016

Siasia okays Kaduna stadium, hotel – Page 47

ITTF Ranking: Quadri’s Africa’s best FTER months of Egypt’s Omar Assar has dominance over been displaced by the A Nigeria’s Aruna Quadri 2014 ITTF Star Player in in the IT TF ranking,

Continues on Page 47

Why Oliseh, others failed — Bonfrere F

ORMER Super Eagles coach Johannes Bonfrere has argued that it was only Coach Stephen Keshi that had what it took to coach the national team.

Bonfrere, was in charge when Nigeria won the Atlanta’96 Olympics gold medal, beating Argentina in the final for the gold, Africa’s first. Bonfrere also

led Nigeria into the final of the Africa Cup of Nations in 2000. He stated that other local coaches failed because they could not give what they didn’t have in their

handling of the team.

The Dutchman brought to Nigeria in 1994 by compatriot Clemens Westerhof was speaking against the background of Sunday Oliseh’s shock resignation and the subsequent appointment of Coach Samson Siasia as interim coach.

“Apart from Stephen

Continues on Page 47

NUMBER ONE: Aruna Quadri in action

Wrestling: Nigeria conquers Africa

T GOLDEN SMILE . . . Blessing Oborodudu ( c ) receiving her certificate from an official after winning the gold medal in 69kg weight class at the 2016 Senior African Wrestling Championships, in Alexandria,Egypt.

By Solomon Nwoke

HE Nigerian female wrestlers have continued to give a good account of themselves in far away Alexandria, Egypyt as they have won the female team title at the 2016 Senior African Wrestling Championship which was concluded yesterday in Egypt.

The wrestling amazons clinched the title with three gold, two silver and a bronze

Continues on Page 47

Results

NPFL Rivers Utd 1 Nasarawa El Kanemi 2 Enyimba Heartland 1 Lobi Kano 3 Akwa Plateau 1 Abia Warriors Shooting 2 Giwa Sunshine 1 Ifeanyi Ubah Warri 1 Tornadoes EPL Crystal Palace 1 Liverpool West Brom 1 Man United La Liga Real Betis 2 Granada FT Eibar 0 Barcelona

0 0 0 2 1 1 1 0 2 0 0 4

QUICK CROSSWORD

TODAY'S PUZZLE

FRIDAY'S ANSWERS

ACROSS 1 Bird-house (6) 5 Defeat (4) 8 Heaped (5) 9 Free (3) 10 Face (4) 11 Existence (4) 12 Restrict (5) 13 Cupboard (6) 16 Lake (4) 20 Finish (3) 22 Vehicle (3) 23 Moose (3) 24 Tardy (4) 25 Formerly (4) 28 Infuriate (6) 30 Cog (5) 32 Discharge (4) 33 Jot (4) 34 Freeze 35 Intended (5) 36 Pip (4)

37 Wrote (6) DOWN 1 Lightly (6) 2 Obscene (8) 3 Save (6) 4 Industry (9) 5 Trust (7) 6 Revise (4) 7 Pour (4) 8 Friend (3) 14 Disgusting (9) 15 Enquire (3) 17 Managed (3) 19 Dog (8) 20 Consume (3) 21 Dedicated (7) 26 Undertake (6) 27 Guard (6) 29 Muddle (4) 30 Period (4) 31 Heated (3)

YESTERDAY'S SOLUTIONS ACROSS: 3, Asked 9, Aghast 10, Ailing 11, Price 12, Ewer 15, Nice 17, Defence 20, Tot 21, Tamed 23, Tact 25, Mood 26, Hover 28, Err 30, Diamond 33, Anon 35, Aver 36, Globe 38, Lessee 39, Office 40, Leant.

DOWN: 1, Saved 2, Chief 3, Asp 4, Strict 5, Each 6, Die 7, Digit 8, Egret 13, Western 14, Reach 16, Condone 18, Eased 19, Hem 22, Dogma 24, Tow 27, Ribbon 28, Early 29, Rouse 31, Ovoid 32, Dried 34, Glee 36, Gel 37, Eft.

How to Play Sudoku

P

lace a number (1-9) in each blank cell. (No line can have two of the same number).

Each row (nine lines from left to right), column, (also nine lines from top to bottom) and 3 X 3 block within a bold block (nine blocks) contains number from 1 through 9. This means that no number can appear twice in any block, column or row.

No mathematics is involved – no adding, subtraction, division or multiplication, just plain logic and your imagination.

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