Army combs Gbaramatu in search of militants

...towards a better life for the people

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VOL. 25: NO. 62672

ONLINE | www.vanguardngr.com

N150

MONDAY, JANUARY 18, 2016

Million, leader of Jonathan ran CBN Lagos banks' like Idi-Amin — Soludo robberies gang 9

BOMBING OF GAS PIPELINE IN N-DELTA:

arrested

6

Clement Abanara

Army combs Gbaramatu in search of militants

By Emma Amaize, Regional Editor, South-South, Egufe Yafugborhi, Brisibe Perez & Akpokona Omafuaire

•Tompolo writes Buhari, accuses APC members of blackmail •We're closing in on perpetrators — JTF Commander •Missing Budget: Saraki to read Buhari's new letter tomorrow — Enang Pg 7

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ARRI—THE m i l i t a r y, yesterday, invaded some Ijaw communities in Gbaramatu kingdom, Warri South-West Local Government Area, Delta State, with gunboats in search of militants, who carried out a three-day bombing of crude oil and gas pipelines in the state, from last Thursday.

This came as ex-militant leader, Government Ekpemupolo, alias Tompolo, wrote President Muhammadu Buhari, alleging that top members of his party, All Progressives Congress,

Continues on Page 5

Customs gives 14-day ultimatum for officers to declare assets 6 BOMBED—Major Gen. Alani Okunola, Commander of the Joint Task Force (Middle); pointing to part of a severed pipeline,

while Brig. Gen. Farouk Yahaya, Commander, 4 Brigade, Benin (2nd left); Lt. Col. Igwe P. Omoke, Commanding Officer, 3 Battalion Effurun (2nd right)and others watch during inspection of the gas pipeline in Warri South-West Local Government Area of Delta State bombed by suspected militants. Inset: Other damaged areas. Photos: Akpokona Omafuaire.

P.33

OWEI LAKEMFA

Esk or TTo oyo: A Eskor life of struggle C M Y K

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HEBRY BOYO

Wobbling and fumbling with fuel prices

COLUMNISTS:

$2.1bn arms probe: Colonel opens lid on deals by top officers Investors' woes worsen as market loses N1.7 trn in 10 days 17

•P.8

Ooni visits Alaafin, as monarchs end 11 79-yr-old supremacy battle

Mr & Mrs

2 — Vanguard, MONDAY, JANUARY 18, 2016

C M Y K

Vanguard, MONDAY, JANUARY 18, 2016 — 3

C M Y K

4—Vanguard, MONDAY, JANUARY 18, 2016

By Jimitota Onoyume, Francis Igata, Ugochukwu Alaribe, Chimaobi Nwaiwu & Davies Iheamnachor

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NUGU—FOLLOWING indications, weekend, that the Movement for the Actualization of the Sovereign State of Biafra, MASSOB, and the Indigenous People of Biafra, IPOB, will, from today, lock down the entire South-East and parts of South-South geopolitical zone over the continued detention of Radio Biafra Director, Nnamdi Kanu, and secession for Biafra, Enugu Police Command has warned the pro-Biafra groups that the ban on protests, demonstrations and civil disobedience was still in place.

Meanwhile, the traditional Prime Minister of Awkuzu and first non-indigene to become the Chairman of old Onitsha Local Government Area, Anambra State, which comprises present day Onitsha North, Onitsha South and Ogbaru Local Government areas, Chief Michael Ozua-Okoye, has said that Biafra’s actualization as a country will come naturally and not by force, as he urged Igbo youths to stop struggling for its actualization.

Addressing newsmen in his palace, Chief Ozua-Okoye, who said he is the crowed Traditional Prime Minister of Igboland, added that the late Dim Chukwuemeka Odumegwu Ojukwu would have achieved Biafra as a country, but could not because he was sabotaged by some people.

He said criminals and greedy people have hijacked the present struggle to enrich themselves, calling on President Muhammadu Buhari to release Mr. Kanu and other detainees of Biafra agitation.

IPOB’s directive

Similarly, in continuation of its protest against the detention of its leader, IPOB has ordered markets, banks, schools including government institutions in Aba, Abia State, and other parts of the state to stay shut from today.

Also, as pro-Biafran agitators threaten to resume protest today, former Niger Delta agitator, Chief Ateke Tom, has denied giving the President Buhari-led Federal Government 14 days ultimatum to grant Biafra freedom or face fresh agitation in the oil-rich Niger Delta.

This came as Governor Nyesom Wike of Rivers State ordered the Police and security operatives to arrest and prosecute any Biafran supporter who flaunts the ban on pro-Biafra protest in any part of the state.

Enugu Police Command, which raised the alert level to ward off any dissent groups in the state, warned parents and guardians to advised their

ALAAFIN: From left— Chairman, Oyo State All Progressives Congress, APC, Chief Akin Oke; Governor Abiola Ajimobi; and Alaafin of Oyo, Oba Lamidi Adeyemi, during the celebration his 45th coronation anniversary.

BIAFRA: Ban on protests still on, Police warn MASSOB, IPOB .... IPOB orders markets, banks, schools to shut down ... as Ateke denies issuing Buhari 14-day ultimatum ...arrest any pro-Biafra protesters, Wike orders Police wards not to fall victim of the law.

MASSOB and IPOB had, weekend, in a joint statement

by National Director of Information, Mr Samuel Edeson; Secretary, Ugwuoke Ibem, respectively, warned the public to stay at home from today as the there will be massive civil disobedience, protests and demonstrations in the SouthEast and parts of SouthSouth regions to force Federal Government to comply with the subsisting court orders for the release of Nnamdi Kanu, who has been in detention since October 17, 2015.

When our reporters moved round major streets of Enugu metropolis, there was unusual presence of security operatives, including the Nigerian Army, at strategic points ostensibly ready to repel demonstrators.

… in Aba

In Aba, members of IPOB wore black clothes with Biafra emblems, chanting war songs and demanded Kanu’s release.

Some of the protesting IPOB members, who spoke to Vanguard, said the order for

the closure of shops today was part of measures to warn the Federal Government to release their leader or face what it described as the mother of all protest.

The group warned that anybody or persons who disobey(s) would regret the action, and advised parents and guardians to avoid risking the lives of their children by sending them to school today.

They said: “We read in the papers of comments by some persons saying Biafra is dead. But we make bold to say that nothing will deter us from the struggle. The protest is going to be massive on Monday (today).

“We are warning parents, guardians, markets, banks and other businesses in Aba to close shop on Monday (today). They will have themselves to blame if they fail to comply with the order.

“The demand for the release of our leader is on and we are not going back on it. We have learnt about the plans to kill our leader, Nnamdi Kanu, and we want to say that any attempt by the Federal Government or its agents to kill our leader means that they want this

nation to boil.”

Ateke Tom

On the said 14-day ultimatum, Ateke, speaking through his spokesman, Ifeanyi Ogbonna, described it as fraudulent and inciting, stressing that he did not give Federal Government deadline.

Ateke, who is now the Leader of Niger Delta Vigilante, NDV, warned members of the public to desist from using his pictures for unauthorized media reports.

It was alleged that the warlord had met with the leaders of the protesting IPOB and accepted to wage war against government if it does not grant the clamour for freedom of the detained Biafrans within 14 days.

His spokesman stressed that Ateke had never had meeting with the leadership of IPOB or MOSOB adding that he (Ateke) did not in any way threaten to declare war against the President Buhari-led government.

Ogbonna noted that the ex-militant had no time for such talk, adding that he

had been in his village, Okrika, and has nothing to do with any Biafran.

He also urged Nigerians to be patient with the Buhari-led government and support him, adding that Buhari is a good leader and a peace lover.

Wike’s order

Governor Wike has ordered the Police and security operatives to arrest and prosecute any Biafran supporter who flaunts the ban against pro-Biafra protest in any part of the state.

The governor, who gave the order in a signed statement by his Commissioner for Information and Communications yesterday, Dr. Austin Tam- George, said government will not tolerate any form of pro-Biafra protest in any part of the state.

Tam-George said the governor had to reiterate the ban on proBiafra protest in the state following reports that some pro-Biafra agitators were embarking on illegal separatist processions and demonstrations in parts of Oyigbo Local Government Area of the state.

“Governor Wike strongly condemns the acts of criminality

by Biafran agitators by whatever name in the Oyigbo area of the state,” the Commissioner added.

Vanguard, MONDAY, JANUARY 18, 2016—5

POCKET CARTOON

BUHARI IN UAE—President Buhari being received by Sheikh Sultan Bin Zayed, 3rd Deputy Prime Minister of the United Arab Emirates and Ambassador of Nigeria to UAE, Ibrahim Auwalu at the Presidential Wing of the Abu Dhabi International Airport, yesterday.

Army combs Gbaramatu in search of militants Continues from Page 1 APC, in Bayelsa and Delta states were responsible for the ongoing vandalization of crude oil and gas pipelines in the creeks of Delta state.

Meanwhile, Joint Task Force Commander of Operation Pulo Shield in the Niger Delta, Major General Alani Okunola, said, yesterday, that the task force was closing in on those blowing up oil pipelines belonging the Nigeria Gas Company, Chevron Nigeria Limited and Nigeria National Petroleum Company, NNPC. He vowed that

JTF would fish them out.

Confirming the invasion of the military, the chairman of Okpelama, an Ijaw town in Gbaramatu kingdom, Mr. Moses Yabrade, said that soldiers stormed his community in the midnight of Saturday, breaking houses but stressed that he did not know what they came for.

Following the blockade by soldiers, who reportedly warned leaders of some of the communities to produce the militants vandalizing pipelines in several parts of the state, more riverside dwellers are fleeing their communities because of

IT'S UP TO YOU

BY AYO ADIO

M

ANY are diligent but very few are vigilant.

Keep your eyes open in other not to miss out on opportunities when they walk by.

TAKE HEART

BY ELLA RANDLE

"Your value doesn’t decrease based on someone’s inability to see them."

T

ELL yourself you’re good enough because you are. Always dream big dreams and take small steps to manifest them into reality. Don’t ever compromise your morals. Because they make you who you are. Don’t ever think you’ve got it all figured out, because the next moment you won’t.

Don’t ever live your life in the past, because then you’ll miss out on the present.

Don’t ever let people bring you down, because they don’t deserve to.

Don’t ever be someone you aren’t, because then you’ll never know who you really are.

Don’t ever worry about the petty things, because they just don’t matter.

Don’t ever let someone take away your happiness, because it was never theirs to take.

SAYINGS OF OUR PEOPLE It is only a foolish man that points to his father's house with a left hand.

an unsubstantiated report that the soldiers said they would return tomorrow.

A community leader told Vanguard: “The soldiers said they would come back and nobody wants to wait for their visit knowing what happened when they bombarded our communities in 2009.”

We're closing in on perpetrators — JTF Commander

JTF commander, Major General Okunola, who led his troop to inspect one of the blown up pipelines at Egwa II community in Warri South West, said the army would hold community leaders in whose domain such bombing took place responsible for any act of sabotage in their area.

He said that the Federal Government would do all it can to bring the saboteurs of the national assets to book as they were already closing in on the criminals.

Okunola said that henceforth, security agencies would enforce the extant law banning the use of outboard engines with 200 HP and above.

He said the Federal government would not condone any act of sabotage in the country, noting that it would deal ruthlessly with those behind the dastardly act.

The commander described the act as not only criminal but also capable of undermining the national security.

He pleaded with government officials and community leaders to give JTF and other security agencies in the region useful information that would lead to arrest of the perpetrators for prosecution.

According to him, “it was blown up three days ago. We are going to fish out those responsible.

“It was a massive sabotage and critical to national assets. There is no way we will fold our hands and allow the perpetrators to get away with it.

“We do not have our men deployed in the area that is why they have the opportunity to do it."

The JTF commander said it was sad for anyone to put the nation in jeopardy by blowing up its national assets.

He assured Niger Delta residents of JTF's determination to wipe out all acts of illegalities in the region.

Tompolo writes Buhari

Meanwhile, ex-militant leader, Government Ekpemupolo, alias Tompolo, last night, sent an open message to President Buhari, alleging that top members of the APC in Bayelsa and Delta states were responsible for the ongoing vandalization of crude oil and gas pipelines in the creeks of Delta State.

The ex-militant leader in his letter to Buhari, said the leader of APC in Bayelsa State and a few young men from Warri South West local government area of Delta State were bent on linking him to the vandalization of oil facilities in the Niger Delta region, “whereas they are the ones carrying out the act to smear my name.”

According to him, “they are doing this in connivance with an agent of Economic and Financial Crime Commission, EFCC who is also a member of APC because I refused to buy property from him.”

His words: “The crux of this letter is to let you know them and to say that they are mischievous, desperate, and therefore, do not share the same vision and mission with you, as well as do not believe in good governance.”

Tompolo also said an APC member in the state approached him shortly after he (Tompolo) met with President Buhari, requesting to plead on his behalf to be appointed as Special Adviser, SA and Chairman of the Presidential Amnesty Programme, but he refused.

How soldiers invaded Okpelama —Yabrade

Okpelama community chair, Mr. Yabrade, who spoke on phone, described the midnight invasion of the community by the army as uncalled

for and unwarranted.

Giving details of the incident that lasted over two hours, Yabrade stated that the soldiers stormed the community in a commando-like manner at about 10.45 pm, making the panic-struck residents to run into the bush for safety.

“Though they left at about 2.00 am, the way and manner the military personnel stormed the community in the middle of the night reminds us of the military era.

“As a community without skeletons in the closet, we are shocked with the activities of the army because we are in a sane country that ought to practice the rule of law, hence we expected the military to partner with the community even if they were working on intelligence report.

“Our community is not part of those recently rocked by pipeline explosions. As I speak with you, we have not been able to account for the whereabouts of three children, who fled into the bush while the incident lasted.”

Information gathered from the locals showed that the soldiers stormed the community in three gunboats and two 200horse powerboats.

Vanguard learned that the soldiers returned to the community in the early hours of Sunday, but stayed for some minutes with their gunboats at the waterfront before zooming off.

Yabrade said the community has become as ghost town, with the villagers fleeing the town, yesterday, after the military invasion.

A security source, however, told Vanguard, “There is information that some of the boys sponsored to carry out the attacks are from Okpelama, which is why soldiers went to the community in search of them.

Soldiers take control Findings by Vanguard showed that soldiers seemed to be in control

since they mounted siege on Saturday.

Our source hinted: “Their presence has served as a control because the militants did not strike since Saturday when they saw them patrolling the creeks. On Sunday (yesterday), they were everywhere in the creeks and they came to Oporoza where a pipeline was bombed behind the community and asked Chevron Nigeria Limited, CNL, to come and effect repairs, while they provided cover.

“As I am speaking with you, soldiers are there in Oporoza area, saying they will not leave until Chevron comes to effect repairs. Soldiers from Koko Command also went to the Benin River, which is in Olero where gas pipeline was burning on Saturday night. But by the time we got there yesterday, the fire was off,” he added.

A top Itsekiri youth leader said, “We have visited some of our communities to tell the people to be very observant and report any strange face to security agents.”

Groups call for halt to military invasion The Ijaw Youth Council, IYC, which on Sunday condemned the attack on oil facilities in some parts of the state, has called for a halt to the military siege to five Ijaw communities of Ikpokpo, Saghara, Opuedebubo, Okpeleama and Tebujo, all in Gbaramatu Kingdom.

Three other Ijaw groups: Ijaw People Development Initiative, IPDI, National Association of Izon-Ebe Law Students, NALS and Niger Delta Youths for Positive Change, NDYPC, also condemned the latest attacks on oil installations by yet to be identified militants The Foundation for Human Rights and AntiCorruption Crusade, FHRACC, in a statement by its national president, Alaowei Cleric, however, cautioned the federal government to handle the face-off between it and Tompolo with care.

6—Vanguard, MONDAY, JANUARY 18, 2016

Customs boss gives 14 days ultimatum to officers to declare assets

By Gofrey Bivbere

T

HE Nigeria Customs Service, NCS, has given a 14 day ultimatum to all its officers and men to declare their assets in compliance with the Bank Employees Declaration of Assets Act Cap B1 Laws of the Federation of Nigeria, 2004.

In a circular signed by the Comptroller-General of Customs, Col. Hammed Ibrahim Ali (Retd), NCS directed officials of the Service to make full disclosure of their assets in a new measure put in place to push for transparency.

The circular was addressed to all Deputy ComptrollersGeneral, Zonal Coordinators and Customs Area Controllers.

According to a statement signed by Customs Public Relations Officer, Wale Adeniyi, over the weekend, “the directive on Assets Declaration is contained in a Circular, signed by the Comptroller-General of Customs, Col. Hammed Ibrahim Ali (Rtd) and addressed to all Deputy Comptrollers-General, Zonal Coordinators and Customs Area Controllers. All Officers are to comply with the directive within 14 days.

“According to the Circular, the directive on Assets Declaration is in compliance with “The Bank Employees Declaration of Assets Act Cap B1 Laws of the Federation of Nigeria, 2004.

Though the Act provides for Asset Declaration by all Bank employees, it also empowers the President to extend its application to other categories of persons.

“Specifically, Section 12 (1) states that “The provision of this Act shall apply to the ComptrollerGeneral, Deputy Comptroller-General, Assistant ComptrollerGeneral, Chief Collector, Principal Collector and other Officer, Staff or employee of the Nigeria Customs Service" “The Comptroller-General observed that many Officers have not complied with the provisions of the Act over the years, stating that the 14-day ultimatum for compliance will be strictly enforced.”

Bird flu hits Ebonyi

By Peter Okutu

A

BAKALIKI—EBONYI State’s Commissioner for Agriculture and Natural Resources, Mr. Orji Uchenna, has confirmed the detection of the first case of Avian Influenza (bird flu) infection in the state.

Disclosing this in Abakaliki, Uchenna said the virus was detected in a poultry farm at Ugwuachara area of the state capital, adding that the attention of his ministry was drawn to the development

following death of birds.

He stated that officials of the state veterinary services took a sample to a research institute in Jos, where it was confirmed that the birds died from the H5NI strains of the Avian Influenza.

Mr. Uchenna directed the veterinary department of the ministry to isolate the farm and take inventory of all poultry and ancillary farms in the state, while sustaining enlightenment on the influenza.

Wasiu Akinwande, alias Oloriesho, Afeez Kehide, alias Ilesami, and Mubor Jones, suspected masterminds of the bloody clashes between hoodlums in Mushin area of Lagos, arrested weekend at Daleko, Isolo and Olosha areas of Mushin by policemen from Area D and Olosha Division.

The Director of Veterinary Service and Acting Permanent Secretary of the Ministry, Dr Ibiam Okoro, who led the Commissioner to the farm, said the department had already mounted surveillance to contain the possible spread of the virus.

Okoro, who emphasized that the strain detected in the farm was only transmissible from animal to animal, warned poultry farmers and the people of the state against the sale or consumption of sick or dead chicken.

The Avian Influenza Control Project Desk Officer in the state, Dr. Rita Okoro, said the alarm by the owner of the farm helped in checking the spread of the virus to other farms.

One of the Supervisors of the farm, Miss Victoria Chukwu, told Vanguard that the sudden massive death of birds in the farm aroused suspicion as they failed to respond to treatment.

Million, leader of Lagos banks' robberies gang arrested

Disguises as woman during operations

By Ifeanyi Okolie

O

PERATIVES of the Inspector General of Police Special Intelligence Response Team, IRT, weekend, in Benin, Edo State, reportedly arrested a leader of a gang of bank robbers, who usually disguised as a woman during operations.

The alleged leader of the notorious gang of bank robbers, Clement Abanara, was arrested by the police in an apartment at the Osayande Estate.

Vanguard gathered that the suspect, also known as Million, allegedly took part in the Lekki, Ikorodu, Festac and Agbara bank robberies (all in Lagos), where his gang carted away millions of naira, destroyed several vehicles and left several persons, including policemen and a pregnant woman, dead.

The IRT, led by CSP Abba Kyari, had in November 2015, launched a manhunt for the bank robbers. Kelly Fotor, one of the suspects arrested at a wedding in Sapele, Delta State, had told Vanguard that Million was the only member of the gang who disguised as a woman during operations.

Fotor also told Vanguard that Million is an experienced kidnapper, who has over eight rifles in his possession.

Kidnapped Majority Leader, son

Recall that Million was once declared wanted by Lagos State former Commissioner of Police, Umar Manko, in December 2012, after he led a four-man

Clement Abanara, alias Million.

gang of kidnappers to abduct former Majority Leader of Lagos State House of Assembly, Tofeeq Adeniji, in Lagos, and took him through the rivers to Delta State, where he demanded N30 million as ransom.

It was reported that N4 million was agreed as ransom and one of the lawmaker ’s sons, who was said to have taken the money to the kidnappers, was also abducted and released along with his father after additional ransom was paid.

Vanguard gathered that four members of the gang arrested along side one of their financiers by men of the Special Anti-Robbery Squad, SARS, Ikeja, took the operatives to a mansion built

by Million, but met the house empty.

A source told Vanguard that the operatives trailed Million’s wife to Warri Delta State, where she was arrested before taking the police to Benin, where her husband was arrested in a rented apartment.

5 killed in renewed Benin cult clash

By Simon Ebegbulem

B

ENIN—NO fewer than five persons have died in a renewed cult war between the Neo Black Movement (A.K.A. Aye) and Mafite confraternities in Benin, Edo State.

Vanguard learned that trouble started at New Benin

area after a member of one of the groups was hacked to death by a member of the rival group.

There was a reprisal attack, spreading the violence to Lucky Way axis.

Four persons were confirmed dead in those areas as Vanguard gathered that a crack team of detectives are in search

of the perpetrators, following an order by the state Commissioner of Police, Chris Ezike.

When contacted, the state police spokesman, DSP Osifo Onwochei, said the command is taking serious measures to curtail the situation, but could not confirm the number of deaths.

Vanguard, MONDAY, JANUARY 18, 2016—7

I needed money for my diabetes drugs— SUSPECT

By Esther Onyegbula

to go and get the drugs and come back for further test.

“I invited my friend, Abbey, explained my situation and he agreed to assist me to raise the funds. I got the gun we used from Yaba Railway yard.

“The gun was wrapped with a polythene bag by cart pushers. I picked it with two live cartridges and we mapped out our plans.”

Meanwhile, Abbey has distanced himself from the crime, saying “although the

A

member of a three-man robbery gang, arrested weekend by operatives of the Rapid Response Squad, RRS, of Lagos State Command, has said that he went into robbery to raise funds for his diabetes drugs.

The suspect, Phillip Toihile, 24, along with his two accomplices, Salifu Abbey, 26, and Idris Sulyman, 28, were picked up in Ijora by the operatives at about 10p.m., while attempting to rob a taxi driver, Amori Fatai.

Confessing to the crime, Toihile explained that he went into robbery to raise N17,000 to procure his prescribed drugs. The suspect, an exconvict, who was released from Kirikiri prison in July 2014, said: “This entire thing is like a temptation.

“With my condition, I am not expected to be found in a situation like this. I was sick.

I went to health centre. They said I am diabetic and that my sugar level was 475 milligram.

The doctor prescribed some drugs worth about N17,000. I was told at the health centre

The suspects.

gun was found on me, it was given to me by Toihile. He told me he was returning the gun to the owner in Ijora, while he was on his way to his girlfriend house.

“He begged me to help him conceal the gun. Because he was looking frail and emaciated, if he had a gun on him, people would spot it.

Besides, what I was putting on was a jeans and overall jacket.

I felt it was easier for me to hide the gun.”

Missing Budget: Saraki to read Buhari’s new letter tomorrow —Enang •Enang paying for his opposition to Saraki

By Henry Umoru/ Joseph Erunke

A

BUJA: President Muham madu Buhari has written the president of the Senate, Senator Bukola Saraki forwarding amendments to the 2016 budget proposals of the Federal Government earlier submitted to the National Assembly.

The letter is expected to douse tension arising from allegations made against Senator Ita Enang,

the Senior Special Assistant, SSA to the President (Senate) that he smuggled a fake version of the budget into the Senate.

Senator Enang disclosed the president’s intention in a text message to Vanguard yesterday as he disclosed that the letter from the president would be read at tomorrow’s plenary session of the Senate.

In his SMS Senator Enang said, “I am to confirm that His Excellency, Mr President has sent a communication to the National

Assembly on the 2016 Budget. The Content is as will be read on the floor in plenary please.”

Senator Enang had been accused by the Senate of surreptitiously reproducing a fake version of the president’s budget proposal earlier submitted to the Senate.

The Senate had last Thursday resolved not to work with the allegedly fake version until the real version laid before the National Assembly was produced.

Meanwhile, Vanguard has learnt that the missing budget saga may well have been a consequence of the alleged role Senator Enang played in the Senate

crisis when he was believed to have sided the faction of the Senate opposed to Senator Bukola Saraki in the Senate leadership crisis.

Senator Enang who was chairman of the Senate Committee on Rules and Business had been quoted as saying that his committee did not authorise the production of the Senate Standing Rules 2015 upon which Senator Saraki was elected. His claim that the version used for the election was faked was the basis of a petition written by senators aligned against Saraki and submitted to the police.

8—Vanguard, MONDAY, JANUARY 18, 2016

$2.1bn arms probe: Colonel opens lid on illicit deals by top officers Indicted military officers already on our radar —EFCC

By Soni Daniel, Northern Region Editor

A

BUJA — INDICATIONS emerged last night that the Economic and Financial Crimes Commission, EFCC, has received some lead on how some of the indicted top serving and retired military officers looted the nation through fraudulent arms contract and direct diversion of funds meant for arms procurement.

Findings by Vanguard revealed that the arrest and detention of a serving Colonel in the Nigerian Army in relation to the diversion of $2.1 billion meant for arms purchase in the Office of the National Security Adviser, exposed the illicit deals undertaken by the indicted officers.

Findings also showed that the Colonel, who hails from Delta State and served as a Personal Assistant to the embattled ex-NSA, Col. Sambo Dasuki, has been telling the anti-graft operatives all that he knows about the arms deals and those who masterminded the looting of the nation’s resources in the name of arms purchase.

It was on the strength of the revelations by the detained military officer and others, that the EFCC, last week, wrote to the Defence Headquarters to release the affected officers and their retired counterparts, for immediate questioning.

Indicted officers already on our radar —EFCC

A top EFCC official, who spoke with Vanguard last night, confirmed that some of the indicted men were already under their radar.

The officer, who declined to give details of what they were doing about the indicted officers, said that EFCC would take immediate steps to carry out the Presidential directive arising from the indictment of the military officers by a panel, which looked into the arms deals.

The official said: “We intend to carry out the Presidential directive in accordance with our extant rules. Don’t forget that before the directive came, we had already moved to fish out some in the military top brass whose names came up in the course of investigation into the $2.1 arms deals.

“We also have a serving military officer, who has been telling us some of the things that took place in the name of arms purchase in the ONSA. All these will certainly advance our work.”

It will be recalled that President Muhammadu Buhari, last week, ordered the EFCC to prosecute many top military officers and companies indicted by a

Presidential panel that probed the procurement of arms for the country between 2007 and 2015.

Those to be investigated

Among those mentioned in the panel report as having cases to answer were the former Chief of Defence Staff, Air Chief Marshal Alex Badeh (retd); former Chief of Air Staff, Air Marshal Mohammed Dikko Umar (retd), and former Chief of Air Staff, Air Marshal Adesola Nunayon Amosu (retd).

The others are Major-General E.R. Chioba (retd), Air Vice Marshal I.A. Balogun (retd), Air Vice Marshal A.G. Tsakr (retd), Air Vice Marshal A.G. Idowu (retd), Air Vice Marshal A.M. Mamu, Air Vice Marshal, O.T. Oguntoyinbo, Air Vice Marshal T. Omenyi, Air Vice Marshal J.B. Adigun, Air Vice Marshal R.A. Ojuawo, and Air Vice Marshal J.A. Kayode-Beckley.

Others are: Air Commodore Sa Yushau (retd), Air Commodore A.O. Ogunjobi, Air Commodore G.M.D. Gwani, Air Commodore

S.O. Makinde, Air Commodore A.Y. Lassa, Colonel N. Ashinze, and Lt. Colonel Mohammed Sambo Dasuki (retd).

Also to be investigated are: Himma Aboubakar, Aeronautical Engineering and Technical Services Limited, Messrs Syrius Technologies and Sky Experts Nig Ltd, among others.

According to the statement, the procurement processes were arbitrarily carried out and characterized by irregularities and fraud, while in many cases, the items procured failed to meet their required purposes, especially the counter insurgency operations in the north east.

VISIT: From left, Prof. Umar Garba Danbatta, Executive Vice Chairman (EVC), Nigerian Communication Commissions (NCC); Mr.Usman Malah, Chief of Staff to the EVC; Hajia Maryam Bayi, Director, Human Capital and Infrastructure Group, NCC and Prof. Abdu Salihi of Bayero University Kano when Faculty of Engineering officials of BUK paid a solidarity visit to the EVC, in Abuja

PDP govs, senators, Reps begin search for credible national chair Throw out zoning

By Emmanuel Aziken, Political Editor & Henry Umoru

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AGOS — Serving and former elected office holders on the platform of the Peoples Democratic Party, PDP, weekend, adopted resolutions to retool the former ruling party, including a decision to jettison the principle of zoning in the election of a new national chairman.

In its stead, the PDP bigwigs, including governors, senators, lawmakers and former ministers, at the end of a meeting in Lagos resolved that the principle of zoning would be adopted only after a formidable new national chairman with weight and integrity has emerged.

The PDP stakeholders met at the Eko Hotel and Suites in Lagos at the meeting that was hosted by the Deputy President of the Senate, Senator Ike Ekweremadu and had Senator Biodun Olujimi as MC. Senator Ekweremadu is the highest elected office holder on

the platform of the party.

The meeting, Vanguard gathered, was essentially meant to frame strategies on how to push forward the party and also respond to the perceived actions of the APC which party stalwarts alleged to be acts of persecution.

At the end of the meeting, the governors, lawmakers and former ministers resolved to form a committee to search for a credible person to lead the party as national chairman from any part of the country.

The party stalwarts, it was learned, said the zoning of party positions at the forthcoming national convention would be hinged on where the person chosen as national chairman comes from.

“What we decided was to establish a committee to search for a formidable and credible national chairman following which all other national offices would be zoned,” a participant at the meeting said.

The committee so formed, it was gathered, would work with the Governor Olusegun Mimiko-

led PDP Governors Forum on the choice.

Besides, the meeting also decided to constitute a committee that will help prepare the party to respond to what party stakeholders at the meeting described as the persecutions from the APC-led government.

All the party caucuses were present at the meeting.

Ekweremadu led the PDP senators to the meeting, while Rep. Leo Ogor led the House of Representatives caucus and Governor Olusegun Mimiko led the PDP governors including Governors Ayo Fayose of Ekiti State, Dairus Ishaku of Taraba, Ibrahim Damkwambo of Gombe, Deputy Governor of Delta State, Kingsley Otaru, among others.

The stakeholders were pleased with the presence of former governor of Cross River State, Mr. Donald Duke, who was making a presence at a national PDP stakeholders meeting for the first time in about eight years.

We’re ready to settle with NCC —MTN

By Prince Osuagwu

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AGOS —MTN Nigeria has expressed readiness to settle dispute with the N i g e r i a n Communications Commission, NCC, over the N1.04 trillion fine incurred for non deactivation of some improperly registered subscribers on its network.

The telecom operator said despite being in court with the regulator, its relationship with the NCC remained solid even as it was ready to strengthen it the more.

The company’s newly appointed Chief Executive Officer, CEO, Mr Ferdi Moolman, and Corporate Service Executive, Mrs Amina Oyagbola, who addressed newsmen, weekend. expressed confidence in the regulator to steady the ship of the sector by always opening up for reconciliations from stakeholders.

The duo stated that no matter what the outcome of the court cases may be, MTN would still hold the NCC in highest regard.

While Moolman revealed that his company was prepared to go to any length to restore relationship with the NCC, Oyagbola heaped praises on the administration of the regulator, describing it as the most important stakeholder to MTN as far as the industry is concerned.

Disclosing the approach the company would take to restore the regulator’s friendship again, Oyagbola said: ”We have utmost respect for them.

The approach of this new team is to correct where we have erred in the past, ensure good business relationship with all stakeholders in the industry. This begins with show of good faith; speaking the truth, to be able to restore and generate more goodwill.”

Corroborating her, Moolman added that part of the reasons MTN felt resolution was imperative, was that the fine amounted to about 95 per cent of the company’s total revenue for a year.

Vanguard, MONDAY, JANUARY 18, 2016—9

Jonathan ran CBN like Idi-Amin — Soludo We took over from a govt that destroyed our economy —APC

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By Levinus Nwabughiogu

BUJA — A FORMER Governor of the Central Bank of Nigeria, Professor Charles Soludo, has accused former President Goodluck Jonathan of running the apex bank during his presidency the way former Ugandan President, Idi Amin, ran his country.

Similarly, the APC has said the opposition Peoples Democratic Party, PDP, “squandered” the resources of the country, as the APC met nothing on the ground to run the country.

In an interview in the current Business Edition of The Interview, Soludo said it was regrettable that in spite of the bank’s statutory independence, it continues to be a victim of high-wire politics, often “electrocuting” the bank’s leadership.

According to him, “imagine a scenario where a president can order the CBN to create an intervention fund for national stability and CBN literally ‘prints’ say, N3 trillion, and doles it out cash to the Presidency to prosecute an election campaign or for just about anything he fancies. It is a scary thought.

“We are going down a dangerous path that ruins the economy. I don’t know any other country where such is tolerated, except perhaps what I watched in a movie about Idi Amin and his governor of central bank.

"Recent revelations regarding the ‘arms-gate’ (revelations involving former NSA Sambo Dasuki on $2.1 billion arms scam) and the apparent abuse of the CBN as ATM by the presidency should get reasonable people thinking.”

PDP govt embezzled our wealth —APC

Meanwhile, the APC has urged Nigerians to be patient with the government of the President Muhammadu Buhari, assuring the people that the president was committed reviving the economy.

Acting National Publicity Secretary of the party, Comrade Timi Frank, while speaking exclusively to Vanguard in Abuja, yesterday, said: “Personally, I am worried about the current situation of economy but again I am letting you know it is not our fault because this is what we met. We met a bastardized system. We took over from a government that destroyed our economy.

The PDP government embezzled the wealth of our nation. So our economy is something we are fighting to survive.

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“And I can assure you that our government is taking every necessary step to make sure we revive our economy and that everything will come to stay. Clearly, I can tell you that this is why the president is moving round to make sure our economy stands again.

“The current situation of

our country, I am asking Nigerians not to blame President Buhari because he is working very hard to make sure things go well with Nigerians that voted APC government to power. They will not be disappointed.

“So, the blame goes back again to the previous

government, the PDP government which squandered and damaged the resources of our country.

And today, Nigeria as a nation is suffering because of them. But by the grace of God, things will be fine again.”

MEETING: From left, National President, National Union of Textile Garment & Tailoring Workers of Nigeria, NUTGTWN, Comrade Oladele Hunsu; General-Secretary, Comrade Issa Aremu and Deputy Gen-Secretary, Comrade Sylvester Chimezie, at the 72nd Central Working Committee meeting of the union in Kaduna. Photo: Olu Ajayi.

Lassa fever: FG holds emergency National Council on Health meeting Contact tracing on course —LUTH

By Sola Ogundipe

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AGOS — THE Federal Government is convening an Emergency National Council on Health meeting tomorrow to discuss the ongoing Lassa fever outbreak in the country.

A statement issued by the Director, Media /Public Relations of the Federal Ministry of Health, Mrs.Boade Akinola, the Minister of Health, Prof Isaac Adewole, will chair the meeting that will be attended by all states Commissioners for Health, and Chief Medical Directors, CMDs and Medical Directors of tertiary health facilities and specialist health facilities in the country.

Akinola said a high point of the meeting scheduled to hold at the Rotunda Hall of the Ministry of Foreign Affairs is the inauguration of the National Lassa Fever Action Committee.

Contact tracing on course —LUTH

In a related development, the Chief Medical Director, Lagos University Teaching Hospital, LUTH, Prof Chris Bode, assured that monitoring of at least 40 contacts of the first confirmed case of Lassa fever in

Lagos has begun in earnest Speaking, weekend, Bode said LUTH was on top of the situation, adding: “We have learned a lot of lessons from the previous Ebola outbreak, and we are just layering what is to be done on what has been learned before.

The state government did not disband the various response teams so they have been reactivated along with the tollfree lines.

“The National Centres for Disease Control, NCDC, Federal Ministry of Health and others are highly responsive to the situation and in provision of the logistics. There is a lot of collaboration with the state and all the general hospitals are well prepared, sensitised and on red alert, and if any hospital is overwhelmed, there will be others to go to.”

He said clinicians from LUTH and the Lagos State University Teaching Hospital, LASUTH, will be manning the facilities to assist in the treatment of any other case that is detected, if necessary.

“This outbreak of Lassa fever will be quickly contained like we did Ebola. If we can beat Ebola, we can beat Lassa fever. We have a plan of action rolled out to treat anybody that comes down with Lassa fever. This

disease is of importance to us at LUTH because such diseases often have fatalities in the hospital among the hospital staff and medical personnel.

We're monitoring close to 100 contacts

Also speaking, a Consultant Public Health Physician at the Department of Epidemiology, Lagos State Ministry of Health, Dr. Ismail Abdul-Salam said contact tracing was on course.

He said all persons that were with the patient during the onset of the problem are being traced.

He said: “I have been in touch with the Kaduna State epidemiologist, who has promised to provide contacts of all the people that may have potentially had encounter with this particular student who is from Kaduna. You can see that this goes beyond just identifying the contacts in Lagos alone. We have to look at other states because it is epidemiology and we have to all come together as a family.

“We are going to be monitoring close to 100 contacts.

From the facility that I am coming from now, the figure is now 95 primary and secondary contacts and here at in LUTH we will be looking at over 100.”

NHRC asks FG to help 4,723 abandoned IDPs in Taraba

By Ikechukwu Nnochiri

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BUJA— THE National Human Rights Commission, NHRC, has asked the Federal Government to come to the aid of over 4,723 Internally Displaced Persons, IDPs, it said were abandoned at various locations in Taraba State.

Executive Secretary of the commission, Prof. Bem Angwe, made the call, weekend, after he visited Taraba State in continuation of his tour of north eastern states to assess the state of camps and facilities currently hosting IPDs. Angwe, who described the situation of IDPs he met in Taraba State as "highly deplorable" said there was need for a quick intervention by the Federal Government.

He said the situation in Taraba State was highly deplorable and required urgent attention.

The executive secretary noted that despite the fact that most of the IDPS have spent well over two years in their settlements, neither the government nor relevant agencies showed concern about their plights.

At Gullong, one of the settlements with over 259 IDPs, the executive secretary observed that there were no foodstuffs, mattresses, provision of security or medical facilities for the displaced persons and their children.

He said: "The children were roaming about without any form of education programme.

The government of Taraba State and indeed relevant agencies have obligations and responsibilities to protect and provide for these people because they are Nigerian citizens. Things cannot be allowed to continue this way."

Angwe called on the National Emergency Management Agency, NEMA, to move in immediately and help the situation while he promised to liaise with Presidential Initiatives on IDPs to intervene and bring succour to the IDPS.

10 — Vanguard, MONDAY, JANUARY 18 , 2016

SEXUAL ASSAULT:

Lagos sensitizes 5,000 varsity students on prevention

By Olasunkanmi Akoni

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AGOS State Domestic and Sexual Violence Response Team (DSVRT) has engaged over 5000 students of the University of Lagos, UNILAG, on sexual assault prevention.

According to the Coordinator of the DSVRT, Mrs. Titilola Vivour-Adeniyi, the measure was in line with the mandate of Governor of Lagos State, Mr. Akinwunmi Ambode, to embark on various sensitization and enlightenment campaigns across the state.

Vivor-Adeniyi said sexual assault prevention drive for higher institutions, organised in partnership with the Pastor Bimbo Odukoya Foundation is aimed at addressing issues of sexual harassment, date rape, safety on campus, the role of a bystander and prevention.

The first drive, she said, kicked off on Wednesday, January 13 which coincided with the orientation session for new students.

“UNILAG students were given tips of how to avoid being victims of sexual assault. They were also informed of how to stay safe in social settings, some of which include making a plan B for emergency exits from a place, protecting their drinks, avoiding clubs or parties that charge men but let women enter and drink

‘No fresh case of Lassa fever in Lagos'

By Olasunkanmi Akoni THE Lagos State Government, yesterday, disclosed that there is no new case of Lassa fever recorded in the state.

It also said that the index case, a 25-year-old male undergraduate of the Ahmadu Bello University, Zaria, Kaduna State, is presently responding to treatment in the hospital.

The state Commissioner for Health, Dr. Jide Idris while briefing newsmen at the weekend, urged residents to remain calm

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AGOS— FOLLOWING renewed clashes between street urchins battling for supremacy at the Mushin area of Lagos State, three persons believed to be masterminds of the bloody clashes, were weekend, arrested by the police at separate locations within the area.

Vanguard gathered that the suspects, identified as Wasiu Akinwande, alias Oloriesho, Afeez Kehinde and Mubolr Jones were apprehended at Daleko, Isolo and Olosha areas of Mushin, by policemen from the Area D and Olosha Division respectively.

Vanguard had, last week, reported of a renewed onslaught by street urchins battling for control of motor parks in the Mushin area.

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been isolated for treatment.

“The patient is presently being managed at the Lagos University Teaching Hospital (LUTH) and his condition is stable”, he added.

Besides, he said that “Ahmmadiyyah Hospital, where the first case of the disease in Lagos was reported, is now under surveillance and there will be no service delivery in the facility until further notice.

The 15 in-patients as well as 25 health workers in the facility are being monitored for the next 21

CORONATION: Governor Rauf Aregbesola of Osun State (left); his wife, Sherifat (2nd left); his deputy, Mrs Titi Laoye-Tomori (2nd right) and the chairman of Bi-Courtney Group, Dr Wale Babalakin (right) reciting the state’s anthem at the coronation of Oniwo of Iwo, Oba Abdul Rasheed Akanbi...weekend.

days. Contacts tracing is ongoing; and currently we have 92 contacts and all are being followed up.”

However, when contacted yesterday, a source at the state Ministry of Health, who preferred anonymity, said, “As I speak, there is no fresh case of Lassa in Lagos, the only index case is responding to treatment under stable condition and contacts are all under strict surveillance while facilities; and isolation centres have been prepared to manage suspected and confirmed cases.”

Though, Lassa fever and Ebola Virus Disease are said to belong to the same Viral Haemorrhagic Fever group, Lassa Fever is milder and can be treated and cured if detected early. Therefore, any persistent fever should be reported to the nearest public health facility.

Idris however, urged members of the public and health workers to report any case or symptoms of persistent high fever not responding to standard treatment for malaria and typhoid fever to the nearest health facility or call the following lines:, 08037170614, 08022234273, 08022241768 08033065303, 08033086660, 08055281442 and 08023169485.

Assuring the Lagosians, Idris said “Government is fully prepared to manage the situation and as such people should not panic for whatever reasons.

Ezekwesili, Falana task lawyers on corruption, education standard

By Abdulwahab Abdulah & Jane Echewodo

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AGOS—FORMER Minister of Education, Dr Obiageli Ezekwesili has called for an efficient educational system in the country, lamenting that the

MUSHIN CLASH: Police arrest 3, recover arms from suspects

By Ifeanyi Okolie

over the outbreak of Lassa fever, saying everything possible was being done to curtail the spread of the virus in the state.

Confirming the occurrence of the first case of Lassa fever in the state, Idris explained that the patient was reported to have fallen ill after he arrived Lagos and “was taken to Ahmadiyyah Hospital, Ojokoro on January 9, 2016 with complaint of fever, sore throats and difficulty in swallowing before he was later taken to Lagos University Teaching Hospital, LUTH, where he is currently

Similarly, four suspects, who were caught with an AK47 rifle alleged to have been snatched from a policeman, by policemen attached to the D9 section of the State Criminal Investigation Department, Panti, were said to have confessed that their rifles were handed to them by the suspects and others, who are currently at large.

Police sources disclosed that several AK47 and pump action ammunition were recovered from the Ilesami when searched.

The source further disclosed that Ilesanmi and Jones were apprehended at Daleko and when they searched his (Ilesanmi) father’s house at Mushin, some cartridges were found.

Also, when his house at Ikotun was searched, the operatives found several AK47 rifle and ammunition.

Federal Ministry of Education lacked an updated data of secondary schools in the country as at the time she took over the helm of affairs.

Ezekwesili, who is also the coordinator of Bring Back Our Girls Forum, spoke at the annual Gani Fawehinmi Lecture entitled: “The Collapse of Public Education And The Past, Present And Future, Prospects Of The Nigeria State,” organised by the Nigerian Bar Association, NBA, Ikeja branch.

According to Ezekwesili, the state of education in the country needs holistic reform to meet the international standard reminiscent of the old good days.

She disclosed that up to 2006, the Ministry of Education did not have the updated information on the total number of secondary schools in the country.

According to her, “In 2006/ 2007, one of the most shocking thing to discover was that a comprehensive inspection of school has not been undertaken for more than two and half decades. Though we were the ministry of education that supposed to be regulating, but what are we regulating when we don’t have updated information on the number of schools we supervise?”

In his remarks, Mr. Femi Falana, SAN, challenged the NBA to enhance the fight against

corruption by partnering with the Economic and Financial Crimes Commission (EFCC).

Falana said: “The NBA should aid the EFCC in it’s fight against corruption because the EFCC should not be alone in this fight. The NBA should aid the EFCC to ensure that any individual that has taken a kobo

from the $320 million Abacha loot should be held accountable. The sharing of the Abacha loot is a typical example of thieves stealing from thieves.”

Also, son of the late Gani Fawehinmi, Mr Mohammed Fawehinmi said that education was a passion that was very dear to his late father’s heart.

AD lauds Buhari’s anti-graft crusade

By Dapo Akinrefon

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AGOS—THE Alliance for Democracy, AD, has commended the anti-corruption programme of President Muhammadu Buhari noting that the pervasive influence of corruption has affected the political and economic development of the nation.

In a statement signed by its National Publicity Secretary, Ms. Olayinka Nola, the party expressed satisfaction at the manner in which corruption cases are being pursued but urged that it should not be selective.

It also noted that rights of the accused should be respected with strict adherence to the rule of law.

The party, however, expressed dismay at the news of the alleged missing budget document.

It noted that a budget is a critical tool of any administration and as such, if it is truly missing, it is an embarrassment to the nation locally and internationally and should be investigated.

The statement reads in parts: “We in Alliance for Democracy, the most vibrant and people oriented political opposition party wish to commend President Muhammadu Buhari in his determined effort to purge the nation of its endemic corruptive tendencies and recover stolen funds. ''It is a step in the right direction because there will be no meaningful development if cankerous corruption is allowed to thrive. However, this crusade should not be selective but should cut across all political and governmental entities and agencies including the private sector for it to be credible.”

Vanguard, MONDAY, JANUARY 18, 2016 — 11

Ooni visits Alaafin, as monarchs end 79-yr-old supremacy battle

By Gbenga Olarinoye & Ola Ajayi

Akande appeals to striking Osun labour unions

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YO—THE Ooni of Ife, Oba Enitan Adeyeye Ogunwusi, Ojaja II yesterday laid an unprecedented achievement in the history of Yoruba race as he paid an unscheduled visit to Alaafin Of Oyo, Oba Lamidi Olayiwola Adeyemi at his palace to join him in celebrating his 45th coronation anniversary on the throne.

Speaking at the thanksgiving service to commemorate the anniversary, Oba Ogunwusi though uninvited emphasized that his agenda, is to unify all Yoruba sons and daughters all over the world.

Oba Ogunwusi, in his quest to unite Yoruba nations said, “I am here today, though not invited, but as the Arole Oduduwa, the onus is on me to felicitate with all sons and daughters wherever they are and to show my solidarity for them.

“I am ready to damn any consequences or insinuations from anywhere; my mission here is to preach peace among nations of Yoruba both home and abroad and I am ready to work with Alaafin of Oyo, Oba Olayiwola Adeyemi to project the unity and love which existed in days of our forefathers.”

The Ooni, who was accompanied to the 45th thanksgiving service of Alaafin by over 100 monarchs across Yoruba land, said with the support of all obas in Yoruba land, there will be unity in Nigeria and by extension the world.

“Oduduwa is father of all nations and his spirit abides by

By Gbenga Olarinoye

F

VISIT: Ooni of Ife, Oba Adeyeye Ogunwusi (left) with the Alafin of Oyo, Oba Lamidi Adeyemi during the celebration of Alaafin's 45th anniversary on the throne at his Palace in Oyo. all us as the symbol of the progenitor,” he noted.

Earlier in his speech, Oba Olayiwola Adeyemi, who expressed joy with the presence of the Ooni and all other Yoruba Obas, maintained that if every monarch in the Yoruba unite, there will be tremendous progress in Nigeria.

He said: “This special visit was done last in March 1937, that was the first time the kings in Yorubaland met in Oyo town and today history was made with the visit of Arole Oodua, Enitan Ogunwusi, Ojaja II and I feel delighted to host you and to reassure you that I will be ready to work with you.

“I had a cordial relationship with Ooni Adesoji Aderemi and I did not

Ogun govt, contractors tango over N3.5bn debt They also claimed that several

By Daud Olatunji

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BEOKUTA—ABOUT 150 contractors have threatened to drag the Ogun State Government before the Independent Corrupt Practices and other related Offences Commission, ICPC, over a N3.5 billion debt.

The contractors were employed to renovate and construct buildings as well as provide furniture in some schools across the 20 local government areas of the state.

They explained that the N3.5 billion contracts was executed in 2014 under the State Universal Basic Education Board, SUBEB projects for 2010/2011.

The contractors, in a statement signed by Adeniyi Rauf, said series of letters had been written to Governor Ibikunle Amosun and the Secretary to the State Government, Taiwo Adeoluwa over the debt but no step had been taken to pay for the project.

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visits had been made to the SUBEB chairman, Chief Mufutau Ajibola and the governor, who was represented by his SSG but ended in futility.

They threatened that apart from the petition to the ICPC, they would embark on a peaceful protest on February 3, when President Muhammadu Buhari would be in the state for the celebration of 40 years existence of the state.

Debt will be paid—Ogun govt

In his reaction, the state Chairman, SUBEB confirmed the debt, saying the governor had pledged to pay the debt.

Ajibola said, “It is true that we are owing the contractors but the governor has promised to pay them soon. You know we did not pay our counterpart funding, we only got our bailout. The governor has assured hem that he will pay very soon”.

When asked how soon government would pay them, Ajibola said he could not say when the contractors will get their money.

want to relent my bound with any Ooni of Ife that assumed the post but everybody has his own little differences.”

The Bishop of Oyo Diocese, Rt, Rev, Titus Ilori Omoniyi, emphasized that the unity among Yoruba nation will bring progress and development and

this will leads to unprecedented progress to all nations.

Among the royal fathers that accompanied the Ooni were; Orangun of Ila, Ajero of Ijero, Timi of Ede, Olu of Yewa, Alara of Aramoko, Oore of Otun, Alayemore of Efon Alaye, among others.

Rule with fear of God, Aregbesola charges new Oluwo ...As monarch gets staff of office

By Gbenga Olarinoye

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OVERNOR Rauf Aregbesola of Osun State, weekend, installed the new Oluwo of Iwo, Oba AbduRasheed Akanbi, charging the new monarch to rule with wisdom and the fear of God. Speaking after the presentation of the staff and instrument of office to Oba Akanbi, Aregbesola urged the monarch to lead by example, saying leadership naturally comes with certain privileges and that a good leader must convert privileges to resources of governance.

Aregbesola said: “Not all of them will readily agree with you and many of them will say or do things you will consider abhorrent. But they are all your subjects and you are required to preside over them with tact and wisdom in a way that will enable you to get the best out of them. A leader must also be a unifying person and must never constitute a divisive agent. There are two kings whose reign the Yoruba never forget. These are the king whose reign is peaceful and the one whose reign is characterised by turmoil and scattering.”

In his acceptance speech,

the Oluwo promised that his reign would focus on the development and pursuit of economic liberation of his people.

He stated that he would continue to advocate for a massive utilisation of locally sourced materials for the production of those articles and goods being massively consumed by the people.

“I am here to serve my people. I am here to take my homeland to that height that it deserves among the comity of modern cities of the world”, the Oluwo said.

ORMER Interim National Chairman of All Progressives Congress, APC, Chief Adebisi Akande has advised striking doctors, lecturers and other labour unions in Osun State to be wary of their agitations, saying the economy of the state cannot meet all the demands of the civil servants.

Chief Akande said this while fielding questions from newsmen at his country home, IlaOrangun during his 77th birthday celebration.

The former governor of the state between 1999 and 2003, cautioned the striking workers to be careful of their demands and agitation, saying “When the economy is too weak to sustain Osun, the governor will go away, the commissioners will go away, all the civil servants will go away, all the doctors will go away, everybody will go away because there will be nothing to sit by anymore.”

Akande pointed out that the current economic crisis in the state was not the making of the governor but that of the crash in oil prices.

His words: “Though I live in Osun, I will say I don’t know much as to the making of the government but I see a lot of boldness in the plan of the present government about Osun, the plan is bold and commendable and if fully implemented can turn Osun into an Eldorado.''

12—Vanguard, MONDAY, JANUARY 18, 2016

Oil theft: Oyovbaire, Ukah urge alliances amongst HOSTCOM, security

By Festus Ahon

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SABA—CHAIRMAN of Delta State Advisory and Peace Building Council, Prof.

Sam Oyovbaire, has sued for strategic alliances among Host Communities in Oil Producing Areas and security agencies in securing oil and gas investments in the state.

Oyovbaire, in Asaba at a stakeholders' summit on vandalism of oil and gas facilities and installations with the theme, Security and Environmental Challenges in Oil and Gas Sector in Delta State: the way forward, organised by the state government, said that the alliances would promote security of oil facilities in the state.

He enjoined the National Assembly to revisit the Petroleum Industry Bill which according to him, would assist to proffer solutions to some of the challenges facing Nigeria's oil and gas sector.

Speaking in the same vein, the state Commissioner for Information, Mr Patrick Ukah, commended the state government for organising the summit.

He noted that the summit would boost the state’s earnings from oil if the

challenges of oil thieves could be phased out or reduced to its barest minimum.

Ukah said the summit has further positioned the state to tackle the problem of oil theft.

He lamented that the state

was losing “a billion naira in monthly revenue from royalties and taxes and more than N2 billion monthly is also being lost in taxes and royalties as a result of some oil companies operating in Delta State relocating to

other states.”

He expressed confidence in the prosperity agenda of the state government, saying that very soon, millions of Deltans, particularly the youths, would be adequately empowered.

AGREEMENT: From left: Otunba ‘Debola Osibogun, President/Chairman of Council, the Chartered Institute of Bankers of Nigeria, CIBN, and Mr. Jude Monye, Executive Director, Heritage Bank Limited, after Risk Managers Association of Nigeria, RIMAN, signed an agreement with CIBN to professionalise risk management practice in Nigeria in Lagos.

Amnesty: Students in UK beg for payment of 6 months outstanding stipends

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IGERIAN students in the United Kingdom participating in the Federal Government's amnesty programme under the aegis of Niger Delta Scholarship Students’ Forum, NDSSF, United Kingdom, yesterday appealed for the payment of amnesty students in the United Kingdom, who have outstanding cases of non-payment of stipends accumulating to six months. They also want the government to look into cases of students who have not received their in-training and house allowances.

In a statement by Students’ Coordinator, NDSSF, Emomotimi Ziprebo, (Birmingham City University), Clement Iyabo (Student leader, University of Bedfordshire), Elliot yibakeni (Student Leader representing Wales, Swansea University) and Alfred Boyed (University of Portsmouth), the students also appealed to the Central Bank of Nigeria, CBN, to prioritize the payment of students who are studying.

They said, “On behalf of all the sponsored students here in UK, we thank Brig-Gen. P.T. Boroh (retd). You have really shown dedication and proved that you want to sustain this programme.

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We appreciate the role you are playing in shaping the policies that will lead to greater sustainability in the Niger Delta region and our nation.”

They noted that despite the huge challenges he faced from the transition of the previous Special Adviser, Mr Kingsley Kuku, and the current Treasury Single Account system being operated by CBN. Gen. Boroh

has worked tirelessly to ameliorate the sufferings of students which, according to them, has given them the much needed glimmer of hope in completing their education abroad.

While thanking the Head of Education, Tam Mologe, Accounts Department, Relationship Managers, London Officers of the amnesty

programme in the UK for showing commitment and sustenance of cordial relationships with students by responding swiftly to students' concerns. The students also commended the office of Nigerian High Commission in London, for acknowledging the sufferings of students through cooperation and standing in solidarity with all lawful activities of the Commission.

Buhari has reduced judiciary's powers —Rights group

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By Emma Amaize

IAGBODO—THE Niger Delta Security Watch Organisation of Nigeria, weekend, alleged that President Muhammadu Buhari has shrunk the judiciary to a paper tiger, crushing the hope of the common man to get succour from that arm of government.

Addressing newsmen in Kiagbodo, Delta State, a leader of the group, Dickson Bekederemo, said that President Buhari boasted during his last presidential media chat that he would not obey court orders to grant bail to the former National Security Adviser, NSA, Col

Sambo Dasuki (retd) and others, and had kept to his word.

The group urged the judiciary to restore its independence and dignity by taking practical steps to enforce compliance with its orders.

It said that the judiciary could do this by refusing to adjudicate over cases initiated by the Economic and Financial Crimes Commission, EFCC, Department of State Services, DSS and Independent Corrupt Practices Commission ICPC, until Buhari sees the need to obey court orders.

The group recalled that the

leader of the Indigenous People of Biafra, IPOB, Nnamdi Kanu, former Director General of NIMASA, Mr. Akpobolokemi, and others were being detained indefinitely with Buhari's tacit approval.

Calling on the National Assembly to initiate impeachment proceedings against Buhari for misconduct and bringing the judiciary to disrepute, it said, “The implication is that an accused person who voluntarily surrendered his liberty to the judiciary can only have it back at the instance of President Buhari."

We'll pursue election petition to logical end —Delta APC

By Jimitota Onoyume

P

ORT HARCOURT— ALL Progressives Congress, APC, in Delta Dtate has vowed to pursue its petition challenging the last governorship election in the state to a logical end.

State Chairman of the party, Prophet Jones Erue, who expressed hope that the party will win at the apex court, enjoined members to remain calm.

“We are law abiding citizens, but we received the judgment of the Appeal Court with shock. We will not abdicate our right to fair hearing as we are convinced that we will find justice at the Supreme Court based on the merit of our arguments in the case in question. We stand by our desire for a new Delta State led by APC where every Deltan will begin to live with a new sense of purpose and direction, a new Delta filled with hope for the future driven by the power of change,” he said.

Prophet Erue, in his statement yesterday in Port Harcourt, Rivers State, also accused Governor Ifeanyi Okowa of allegedly wasting public funds meant to develop the state.

Bayelsa APC demands Speaker's resignation

By Emem Idio

Y

ENAGOA—THE Bayelsa State chapter of All Progressives Congress, APC, is demanding the resignation of the Speaker of the state House of Assembly, Mr. Konbowei Benson, following a Court of Appeal ruling which annulled his election victory.

However, while supporters of the Speaker and the Peoples Democratic Party, PDP, in the state insist that the Court of Appeal ruling did not ask him to vacate the seat pending a re-run election, the APC, through the counsel to the petitioner, had submitted certified copies of the ruling to the State Attorney General and the Clerk of the House of Assembly showing proof of the court ruling.

The Court of Appeal sitting in Port Harcourt, Rivers State, had on December 9, declared as null and void the election of the Speaker, Benson and ordered a fresh re-run election in Constituency 4 of Southern Ijaw Local Government Area of the state.

Vanguard, MONDAY, JANUARY 18, 2016—13

Suspended Edo LG boss drags Oshiomhole to court

By Gabriel Enogholase

B

ENIN—SUSPENDED Chairman of Oredo Local Government Area of Edo State, Mr. Osaro Obazee, has dragged the state governor, Mr Adams Oshiomhole, to court, arguing that the governor has no power to suspend him as the democratically elected chairman of the council over allegations of diversion and misappropriation of public funds without giving him a fair hearing in accordance with Section 36(1) of the 1999 Nigerian Constitution, as amended.

The suit before Justice Esohe Ikponmwen of Edo State High Court also has the AttorneyGeneral of the state and Edo State House of Assembly as defendants.

In the suit by his counsel, Mr. Kingsley Obamogie, the claimant wants the court to declare that as the constitutionally elected chairman of Oredo council, he cannot be suspended at the whims and caprices of the governor without regard to the due process of law, especially Sections 7(1) and 36(1) of the Constitution of the Federal Republic of Nigeria 1999, as amended.

He wants the court to declare

that the governor cannot competently set up a panel of inquiry to investigate alleged diversion and misappropriation of public funds in Oredo council and employment of new staff without the approval of the Edo State Local Service Commission and without giving him fair hearing having already reached a firm conclusion on both issues.

The claimant wants a declaration by the court that the purported acknowledgment of his suspension by the 3rd defendant on October 6, 2015 as Chairman of Oredo Local Government Area was unconstitutional, illegal, null

and void and of no effect whatsoever.

The claimant wants the court to set aside the report of any purported panel of inquiry set up by the governor to investigate the allegations against him, insisting that it breached his right to fair hearing guaranteed by Section 36(1) of the 1999 Constitution of Nigeria as amended.

He is praying the court to restrain the defendants, their privies, servants and agents from interfering with his rights as chairman of the council or disturbing the exercise of his powers without due regard to

Delta govt sets out modalities for royalties to monarchs

A

By Festus Ahon

SABA—DELTA State Government has set out modalities for the disbursement of the three percent project fund set aside for traditional rulers in Oil Mining Lease, OML 30, as spelt out in a General Memorandum of Understanding, GMoU, agreement between the oil bearing communities and the Nigerian Petroleum Development Company, NPDC. State Attorney-General and Commissioner for Justice, Mr.

Peter Mrakpo, who disclosed this at a meeting with the traditional rulers at the Government House Annex in Warri, said it had been agreed that the three percent fund would be disbursed to the monarchs through their clusters.

The meeting which was attended by 29 traditional rulers from Ijaw, Urhobo, Isoko, Okpe and Itsekiri Kingdoms, was called by the Attorney General to proffer better ways of accessing the

Why I won’t reconcile with Igbinedion —Oshiomhole

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By Simon Ebegbulem

E N I N — GOVERNOR Adams Oshiomhole of Edo State has said that he may not reconcile his differences with the Esama of Benin, Chief Gabriel Igbinedion, because the latter allegedly disrespected his office by seeing himself as bigger than the entire Edo State.

Oshiomhole spoke when he visted Chief Igbinedion’s ancestral home in Okada, Ovia North-East Local Government Area, where he commissioned class room blocks at Iguomo and a three-storey office complex which was named after the governor.

The projects were executed by the chairman of the council, Mrs Lucy Omagbon. The governor, who was responding to a plea by a leader of the community that the governor should reconcile with Chief Igbinedion, said that he had no problem with Chief Igbinedion but

that his duty as governor of the state was to protect both the rich and the poor, adding that it was in the discharge of such duties that he had issues with Igbinedion.

According to him, “I heard the Chairman talking about my quarrel with Igbinedion. I have no problem with anybody. There are only four levels of government, federal,

state, local and traditional institution.

The House of Igbinedion does not belong to any of this. He is a chief and I respect him as a chief but he must respect constituted authorities, the office of the governor of Edo State. This governor cannot be harassed, he cannot be blackmailed. And I stand ready to defend that office.”

Gas flaring: Senate c'ttee engages NNPC, IOCs tomorrow

By Joseph Erunke

A

the process of law.

When the case came up for hearing weekend, counsel to the state government, M. M.O Airede, argued that the court lacked jurisdiction to entertain the suit, further contending that it was a matter meant for the National Industrial Court to decide.

However, counsel to the claimant, Kingsley Obamogie, in his reply, argued that the court has jurisdiction over the matter as he was the democratically elected leader and not a labour leader. Meanwhile, the matter was adjourned to January 25, for further hearing.

BUJA—IN its efforts to address the worsening trend of gas flaring in the country, the Senate Committee on Gas Resources will meet with top officials of the Nigerian National Petroleum Corporation, NNPC and its s u b s i d i a r i e s , International Oil Companies, IOCs as well as other oil majors tomorrow.

The meeting, which will be investigative in nature, will guide the

committee with insights into its proposed bill seeking amendment of laws on gas flaring in the country.

The committee’s chairman, Senator Albert Akpan, told Vanguard, in Abuja, that the outcome of the investigative meeting will bring about the desired positive change in the oil and gas sector.

He said the meeting would be followed by the committee’s visit to gas flaring countries such as Norway and the Netherlands.

funds by the monarchs without reservations.

Mrakpor who was represented at the meeting by the Director, Department of Peoples’ Rights, Mr. Omamuzo Erebe, said that the negotiation of the GMoU which was initiated by the state government through the state Ministry of Justice and other stakeholders in oil and gas sector, provided for the three percent of the project funds to the royal fathers in OML 30 for their maintenance.

Edo ex-Speaker dumps PDP for APC

By Simon Ebegbulem

B

ENIN—FORMER Speaker of Edo State House of Assembly, Mr David Iyoha, has led his supporters and other leaders of the Peoples Democratic Party, PDP, in Esan Central and Esan West Local Government Areas of Edo State to the All Progressives Congress, APC. Iyoha, who was received by Governor Adams Oshiomhole and the Speaker of the state House of Assembly, Mr Victor Edoror among other APC leaders at the Government House, weekend, said his defection to APC was his New Year gift to the APC prompted by the good governance provided by the governor.

He said: “Your Excellency, you have changed the face of Edo State. You have become the symbol of good governance, not only in Edo State, but across the country, and even beyond. We are very proud of you."

14—Vanguard, MONDAY, JANUARY 18 , 2016

ZAKZAKY VS ARMY: Shiites give condition for

appearance before commission of inquiry •Say their leader must be released unconditionally

By Kingsley Omonobi

K

ADUNA—AS the Kaduna State Government finally established the Judicial Commission of Inquiry that it promised would look into the clash between the Nigerian Army and adherents of the Shiite Islamic movement in Zaria in 2015, the Islamic Movement in Nigeria, IMN, has given conditions to appear before the commission.

While noting that the Movement believes in the justness of its cause and the fact that the events that led to the setting up of the Judicial Commission were premeditated, they said they will only appear before the commission if its leader is released unconditionally, and the Nigerian Military and the Nigerian Police make full disclosure of the number of persons in their various detention centers and those they took to the various hospitals and the location of the hospitals to enable their lawyers have access to them.

A statement spelling out the conditions signed by the President, Media Forum of the Islamic movement, Ibrahim Musa, said while the Islamic Movement in Nigeria, IMN, has called for the setting up of an impartial and independent Judicial Commission of Inquiry made up of independent

persons and members of the international human rights community to unravel the circumstances that led to the pogrom in Zaria and its environs, it believes that the events of December 12, 2015 that led to the massacre of its members, the maiming of hundreds, the detention of its cadres and destruction of its properties are premeditated.

The movement added that the Federal and Kaduna State Governments are in face saving

mode regarding the gross human rights violations that it deliberately perpetrated.

“The Movement will appear before the Judicial Commission of Inquiry only on the following conditions: That the leader of the Islamic Movement in Nigeria should be released unconditionally. The Nigerian Government is holding the leader of the Movement incommunicado knowing that he is the custodian of the documents of the Movement and has to give

direction to the Movement in the preparation of its Memorandum and the assembling of its witnesses.

“TheNigerianMilitaryandtheNigerian Police must make a full disclosure of the number of persons in their various detention centers and grant lawyers of the Movement access to most of them. This is because the Movement has credible evidence that a large number of its members are still in detention in military facilities and detention centers," the statement asserted.

The statement added that the Kaduna State Government and the Kaduna State PoliceCommandmustdisclosethenumber of persons it has charged to court and the number of persons it has in prison custody.

MEETING: From left: Chief Kenneth Ekedoke, Traditional ruler, Hilltop Autonomous Community, Enugu, Ozo Sunday Orji, Chief Denis Chukwuemeka, and guest of honour, Ozo Gab Agu, at the begining of Year 2016 Community Meeting in Enugu, yesterday. Photo: NAN.

Kogi APC in tight spot over Faleke's rejection of deputy governorship

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By Kingsley Fanwo

OKOJA—POLITICAL kingpins in Kogi State have gone back to the drawing board to reconfigure the state’s political positions following the final decision of the state’s Deputy Governor-elect, Hon. James Faleke to absent himself at next week’s inauguration ceremony.

The governor-elect, Alhaji Yahaya Bello and chieftains of the All Progressives Congress, APC, Vanguard learned are at a cross roads over the push by stakeholders from the Igala speaking Kogi East district for the office of deputy governor to be zoned to them on the grounds that as the largest senatorial district they cannot be left out of the first two positions in the state.

Bello is from Kogi Central while Faleke is from Kogi Central.

Vanguard was reliably informed by sources close to Faleke on the final decision not to partake in the inauguration

ceremony scheduled for January 27.

“As far as we are concerned, Faleke is not the Deputy Governor-Elect to Alh. Bello, but the late Prince Abubakar Audu who won the governorship election before he died. Faleke is the only person who is qualified to inherit

Audu’s votes because the ticket was a joint property.

“We are not bothered about plans for inauguration because it has no impact on us. Let them do their inauguration while we pursue our case in court. At the end of the day, the law will determine the rightful occupant of Lugard House,” they said.

The sources also informed that Faleke has no plans of disrupting the inauguration, saying, “as a man of peace, our principal has confidence in the judiciary to resolve the Kogi impasse.”

Given the determination of Faleke to abstain himself, the party it was gathered has commenced the search for a replacement for the office of deputy governor.

SUPREME COURT JUDGMENT: Ortom

M

A K U R D I — GOVERNOR Samuel Ortom of Benue State yesterday extended an olive branch to the defeated governorship candidate of the Peoples Democratic Party, PDP, Dr. Terhemen Tarzoor, shortly after having his election upheld by the Supreme Court weekend.

In a statement issued on his behalf in Makurdi the state capital, by his Special Adviser on Media, Mr. Tahav Agerzua,

Governor Ortom commended Tarzoor for opting for the legal process rather than violence in the pursuit of his political

By Suzan Edeh

S

OKOTO—THE Sokoto State Government says it has uncovered N1.5 billion belonging to it lying idle in 100 dormant accounts in various commercial banks in the country.

The state government attributed the discovery to the implementation of the Treasury Single Account, TSA, system two weeks ago.

The state Commissioner for Finance, Alhaji Saidu Umar, said this on Sunday in Sokoto while giving an update on the system’s implementation.

In a statement signed by his spokesman, Mr Imam Imam, Gov. Aminu Tambuwal said “government is determined to trace and close down all dormant and inactive accounts operated by it.

“Since the introduction of the TSA, there has been a massive improvement in the reconciliation of public finance figures between the government and commercial banks.

“This has reduced risk of errors in reconciliation processes and enhanced timeliness and quality of the fiscal figures from such accounts”.

The governor was also quoted as saying that introduction of the TSA had enabled government to regularly monitor public cash balances.

"It is at the same time, ensuring higher quality cash analysis from all accounts hitherto operated by the state government and its agencies. More analysis is being undertaken efficiently and at regular intervals," he said.

extends olive branch

to PDP gov candidate

By Peter Duru

TSA: Sokoto uncovers N1.5bn

convictions.

He stated that since the apex court had adjudicated and settled the political dispute, he was

extending a hand of fellowship to Dr. Tarzoor and inviting him to contribute his ideas and those of his supporters towards the development of the state.

Jigawa PDP to sue INEC over postponed LG polls

By Aliyu Dangida

D

UTSE—JIGAWA State chapter of the Peoples Democratic Party, PDP, says it will be dragging the state Independent Electoral Commission to court for postponing the local government

elections in the state indefinitely.

Acting Deputy Chairman of the PDP in Jigawa State, Alhaji Aminu Nuhu Jahun, who revealed this, said they will be seeking for N4.9billion as compensation for what they had spent in conducting primaries and other expenses.

“We are indeed disappointed

with the shameful and embarrassing announcement of the postponement of local government polls in Jigawa state

by SIEC through various media organizations which we considered as sabotage and lack of confidence from APC led Badaru’s government in the state.”

Vanguard, MONDAY, JANUARY 18 , 2016—15

Okorocha sacks 3,000 civil servants O

By Chidi Nkwopara

WERRI—IMO State governor, Chief Rochas Okorocha, has summarily sacked over 3,000 workers in 19 parastatals, agencies and departments, as he stopped their salaries with effect from January 4, 2016.

A Nigeria Labour Congress, NLC, source told Vanguard that over 3,000 workers were affected in the sack.

Vanguard gathered that “the current action of the governor, which not only came on the heels of last Wednesday’s labour protest in Owerri, headed by the National President of Nigerian Labour Congress, NLC, Ayuba Wabba, is also closely linked with the recent obnoxious form which the administration forced Imo workers to sign before collecting their unpaid salaries.”

Alleviation Agency, Imo Palm Plantation, Agricultural Development Programme, ADP and Small Holders Unit.

Government explained that the action followed what it called “a productivity audit recently conducted in the parastatals, agencies and departments.”

The statement

The statement added that “Government is satisfied that it is no longer in public interest to keep running these agencies, parastatals and departments with huge cost on public revenue and no services to the public, under the present economic realities.”

Government promised that the affected workers would be communicated to in due course, about the administration’s next line of action regarding possible re-engagement, after the ongoing concessioning exercise affecting the agencies, departments and parastatals.

The affected staff were ordered to handover all government property in their possession to their chief executives within 48 hours, while civil servants on secondment to any of the affected agencies, parastatals and agencies, were deployed to their parent ministries.

Agencies that escaped the hammer

Vanguard gathered that the agencies of government which staff narrowly escaped Okorocha’s sledgehammer were the Secondary Education Management Board, State Universal Education Board, General Hospital Okigwe, General Hospital Aboh Mbaise, Imo Essential Drugs, Specia Education Centre Orlu and School of the Deaf and Dumb, Orodo.

Others are Zoological Garden, Owerri, Logara Mbaise Remand Home, Government House Clinic, Imo Broadcasting Corporation, IBC, Project Finance Management Unit, Financo Brokers, Heartland Football Club and Imo College of Advanced Professional Studies, ICAPS, Owerri.

Imo SSG

According to a statement by the Secretary to the Government of Imo State, Sir Jude Ejiogu, the workers caught in the sackweb include the Imo Water Corporation, Imo Cattle Market, Imo Sports Council, Imo State Environmental Transformation Commission, ENTRACO, Imo Marketing Company, Imo Consumer Protection Council, Hospital Management Board, and its headquarters staff.

Others are Imo Tourism Board, Imo Blue Lake of Treasure, Imo State Investment Promotion Agency, Imo Job Centre, Imo Water Development Agency, IWADA, Imo Library Board, Imo Agricultural Loans Board, Imo Livestock, Imo Poverty

LECTURE: Dr Lola Dare (middle), Mrs Grace Oluwatoye (left) and Mr Dotun Saseyi, General Manager Petal FM 102.5 Ibadan, during the lecture on the transformation of Millienium Deveploment Goals to Sustainable Development Goals delivered by Dr Lola Dare in Ibadan. Photo: Dare Fasube.

$2.1BN ARMS DEAL: Group lauds Anenih over letter

to EFCC

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By Emeka Mamah

NUGU—THE Centre for Reform Education Initiative, CREI, has commended the former Chairman of Board of Trustees, BoT, of the Peoples Democratic Party, PDP, Chief Tony Anenih over his honesty and uprightness in writing to the Economic Financial Crimes Commission, EFCC, without anybody’s prompting to explain his role in the $2.1 billion arms deal saga.

Anenih had written to inform the EFCC that N260 million was paid into his bank account from the Office of the National Security Adviser, ONSA, explaining further how he shared the money, which was believed to have come from the alleged arms fund.

In a statement by the Executive Director of CREI, Chinwe Ugwu it said that Anenih’s action was not only exemplary but “an indication that he harboured no criminal C M Y K

tendencies whatsoever.”

Ugwu noted that it was instructive that the elder statesman shared the money as directed and never benefited from it.

“We want to commend Chief Anenih for being a leading light in the ongoing fight against corruption. Although, he was

not approached by the EFCC, he voluntarily offered to help the anti-corruption agency by owning up and explaining his roles.

“That the elder statesman did not deny receiving money and was bold enough to state categorically how he shared the money that was paid into his

account from the Office of the former NSA shows that he is an incorruptible leader and will not condone corruption in whatever form,” Ugwu stated.

CREI explained that Anenih’s posture was “quite different from some people who though collected the money but are denying and even boasting that they will not refund a dime."

Ebonyi govt moves to boost rice production

A

By Peter Okutu

BAKALIKI—EBONYI State Government, weekend, said it had concluded arrangement to engage the services of 39,000 farmers to boost rice production across the 13 local government areas of the state.

The state Commissioner for Agriculture and Natural Resources, Mr Orji Uchenna Orji stated this while briefing stakeholders including local government chairmen, development

centre Coordinators, Headmasters of schools, members and Staff of the Secondary Education Board, SEB and the State Universal Basic Education Board, SUBEB among others on the programmes and policies of the state government on agriculture and activities for the 2016 farming season.

Orji who stressed that the farmers will drive the rice production agenda of the state government charged council chairmen and cevelopment centre Coordinators to

immediately go into land preparation between January and March and liaise with the ministry to ensure that the parcels of lands were mapped out and allocated to the listed Co-operative societies.

Explaining further, the commissioner noted that the state government had secured N2 billion loan for the over 774 Cooperative societies registered with the ministry to boost the state’s policy on agriculture and make Ebonyi the destination for food sufficiency and food security.

Abia North leaders frown at sacking of Ikpeazu by A'Court

U

By Anayo Okoli

MUAHIA— POLITICAL leaders and stakeholders from Abia North senatorial district of Abia State have frowned at the Court of Appeal judgment which nullified the election of Governor Okezie Ikpeazu and declared Dr. Alex Otti of All Progressives Grand Alliance, APGA winner of the April 2015 governorship election, and expressed the hope the Supreme Court would reverse the judgment.

They called on Abia people “to remain calm and continue to support Governor Ikpeazu while awaiting the decision of the Supreme Court which shall hopefully restore the mandate freely given by Abia electorate to Dr. Ikpeazu.”

Rising from a meeting in Ohafia, Abia State, the group lamented that the Court of Appeal judgment “disenfranchised the majority of the people of Ukwa-Ngwa zone” which they said is “densely populated.”

....As diaspora group faults judgment

A

By Ugochukwu Alaribe

BA—A socio political group, Ngwa National Association, United States of America, NNAUSA, has said that the verdict of the Court of Appeal, Owerri which sacked Governor Okezie Ikpeazu from office and declared Dr. Alex Otti, as governor-elect, cannot stand the scrutiny of the Supreme Court.

President of NNAUSA, Boniface Eguzouwa, who stated this in a paper he delivered at the Aba Urban Development Summit, in Aba, entitled; “From This to That: Restoring Spatial Sanity to Aba Urban,” affirmed their faith in the Supreme Court’s ability to overturn the decision of the Appeal Court, an intervention he said, was the only way to prevent a wellcalculated violation of the fundamentalhumanrightsofover 300,000 electorates, lying within Ikpeazu’s political stronghold.

16 — Vanguard, MONDAY, JANUARY 18, 2016 NIGERIAN Army Board of Inquiry constituted to investigate alleged professional misconduct by some officers in the 2015 general elections has returned a punitive recommendation of compulsory retirement of two senior officers. The board also recommended that three officers would lose their command and one other officer will face criminal prosecution for collecting financial gratification. Furthermore, fifteen officers are placed on their watch list and nine other officers are to be further investigated by the EFCC over allegations levelled against them.

Additionally, six officers are to face an audit committee and sixty two officers mostly of the rank of major and below were to be given letters of displeasure and to appear before their respective General Officers Commanding for counselling. These measures arose from the unprofessional and partisan conduct of the affected officers and soldiers of the Nigerian Army during the 2015 General elections, as well as the Ekiti and Osun governorship elections . The Army high

The arm y’s re tirement of tw o of army’s retirement two offficer icerss o ovver Ekiti, Osun polls command had set up the board following petitions received from the public after the polls.

Since the return to civil rule, the role of some personnel of security agencies in maintaining law and order has been unsalutory and sometimes undermines the tenets of democracy. Things have not improved since former President Olusegun Obasanjo initiated the idea of deploying soldiers at elections. The trend continued despite a court ruling against it. Much as we appreciate the need for law and order to be maintained before, during and after elections in the country, we consider it highly reprehensible and a subversion of professional ethics for security agents

particularly soldiers to get involved in election matters beyond the boundary prescribed by the call of duty.

That is why we commend the Chief of Army Staff, Lt. Gen. Tukur Buratai, who departed from the practices of the past by setting up the board of inquiry rather than exonerate his officers and men when there was unassailable proof of complicity. We also commend the moral courage of the board’s chairman, Major General Adeniyi Oyebade, for the far reaching recommendations made.

We implore other security agencies involved in past elections including the navy, airforce, the Police and Department of State Service operatives to follow the lofty example of the army

OPINION award victory to a candidate based on results in other parts of the state has Muhammad’s concern over Appeal continued to confound even the most learned minds in the country. It is a Court rulings rather worrisome proof of the very

By Michael Etteh

T

HE concern expressed recently by the Chief Justice of Nigeria, Mahmud Mohammad, over the conflicting rulings that have come out of different divisions of the Appeal court is quite instructive.

It is the first time a public officer in the present administration, no less a personality than the nation’s number one judge and head of the judiciary, would join the ranks of Nigerians that have openly condemned the bizarre and patently horrendous rulings that have trailed petitions that arose from the 2015 general elections.

Muhammad, who spoke at the 2015 annual conference of the Court of Appeal in Abuja, expressed worry at the spate of conflicting and often contradictory rulings at appellate courts, even in similar cases. The Chief Justice must be hurt by the incalculable damage the contradictions are capable of inflicting on a key arm of government on which the survival of democracy rests. But we must be grateful to God for the separation of powers that is guaranteed in a democracy. It is the reason the head of one arm is not bound to tow the same line with another arm, in this case an executive that is controlled by a party that has not hidden its desperation to use the instruments of government to grab power.

Although he did not mention the rulings that have caused him

considerable heart ache, Muhammad must have been referring to appeal court rulings in respect of the governorship elections in Akwa Ibom and Rivers states that are diametrically opposed to the one in respect of the same election in Lagos State, on the same issue. For, while the Lagos Division of the appeal court ruled that the card reader was a non-issue in the 2015 election, in so far as the electoral act did not make it mandatory, the appeal courts that ruled on the Akwa Ibom and Rivers states governorship elections made it a major issue, and one of the grounds on which it annulled the governorship election in those states.

Mohammad must have been embarrassed by the inexplicable manner in which the appeal court disregarded the verdict of the election petition tribunal that ruled that the governorship election in 13 local government areas of Akwa Ibom State met the requirements of the provisions of the electoral act, thus raising the question about whether it was more painstaking in its handling of the case than the former.

The Chief Justice must have also referred to the ruling of the Owerri division of the appeal court, whose decision to annul elections in three local government areas in Abia State and

The Supreme Court has the final chance to redeem what is left of its image

interesting times in which we currently live.

The fact must not be ignored that states where governorship election cases have attracted strange appeal court rulings are those (hitherto?) controlled by the Peoples Democratic Party (PDP), with the party at the receiving end. By some curious coincidence, appeal court rulings have largely been in favour of the All Progressives Congress (APC), except in the case involving Taraba State, for which the appeal court couldn’t have ruled otherwise, if it did not want to pour scorn on itself.

The public concern expressed by the nation’s Chief Justice has come at the nick of time. A major positive fallout of the amendment of the electoral act is the role of the Supreme Court as the final arbiter in cases involving governorship election petitions. If it were in previous dispensations when the appeal court was the last bus stop for governorship election cases, an acting governor, in the person of the Speaker of the State House of Assembly, would right now be running the show in Akwa Ibom, pending the conduct of a fresh election, to satisfy the wish of the APC that lost the April 11, 2015 election. The case in Rivers would be quite complex, considering that there is no House of Assembly currently in place, no thanks to the appeal court that sacked its entire membership, which happened to have been comprised of PDP members. Alex Oti would still be pinching himself to confirm that he is,

by investigating allegations against their officers and men. This is desirable because to sustain the nation’s flowering democracy, the military in particular should imbibe the culture of subordinating its officers and men to dictates of civil authority. Their absolute neutrality during elections should never be in doubt. Officers and men who willfully collaborate with politicians to undermine electoral processes are not worthy of their professional callings.

Much as we agree that erring officers should be disciplined, we recommend that there should be continuous training and orientation of personnel to be deployed by the military and other security agencies during elections.

Those who are perceived to be partisan in their disposition should be excluded from such exercises. Finally we urge the army authorities to painstakingly review the recommendations in line with its legal and administrative procedures because of the grave implications on the career of the affected officers in particular and the Nigerian army in general.

indeed, the governor of Abia, with credit for his sudden change of status not going to the people of the state, but to the court of appeal.

The Akwa Ibom Election Petition Tribunal may have disagreed with the Independent National Electoral Commission (INEC) that elections in the state substantially complied with the provisions of the constitution and the electoral act. But it did not throw the baby away with the bathwater, as the appeal court did. It agreed that conduct of the exercise in 13 out of the 31 local government areas in the state satisfied the requirements of the law, and upheld the election of Udom Emmanuel in those areas, ordering a re-run in the remaining 18 local government areas.

Now, if there was doubt about the freeness and fairness of the election in some areas in the state, does justice not demand that elections in those areas be cancelled and a re-run ordered? Is it possible that in none of the 31 local government areas was the election free and fair? Was that the report of local and international election monitors in the state?

The basis for the appeal court’s decision to cancel the entire election in the state is still a puzzle to everybody except the leadership of APC that has vowed to apply every means at its disposal to win the state. The ruling reflected the boasts by the party through conventional media that it controls, as well as the social media, to the effect that the election of Emmanuel would not stand.The Supreme Court has the final chance to redeem what is left of its image. *Mr. Etteh, a public affairs commentator, wrote from Abuja.

L L

JANUARY 18, 2016

Investors’ woes worsen as market loses N1.7 trn in 10 days Analysts predict further fall in shares this week

By PETER EGWUATU

T

HE declining fortunes of inves tors in the Nigerian stock mar ket is indicated by a debilitating loss of N1.764 trillion in ten trading days, as the stock market maintained its free falll last week in response to further decline in crude oil price to below $30 per barrel, and the historic depreciation of the naira to N300 per dollar in the parallel market.

Meanwhile, analysts have predicted further fall this week given the persistent weakness in price of crude oil.

The market capitalisation which represents the total value of stocks traded on the Nigerian Stock Exchange, NSE opened this year at 9.850 trillion to close

last Friday at N8.086 trillion.

A cursory review of the Nigerian stock market performance for last week showed that investors lost over N1.208 trillion in five trading days, as market capitalisation which opened the week under review at N9.295 trillion closed last Friday at N8.086 trillion.

Similarly, another stock market performance indicator, the NSE All Share Index , ASI which opened the year at 28,642.25 points closed last Friday at 23,514.04 points, indicating a decline of 17.9 per cent of 5,128.21 points .

Meanwhile, transactions on the NSE last week showed that a turnover of 1.459 billion shares worth N14.165 billion in 15,164 deals were traded by investors on the floor of the exchange in contrast to a total of 899.604 million shares valued at

N7.669 billion that exchanged hands penultimate week in 14,164 deals. The Financial Services Industry (measured by volume) led the activity chart with 1.287 billion shares valued at N8.953 billion traded in 10,020 deals; thus contributing 88.17 per cent and 63.20 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 59.832 million shares worth N3.072 billion in 2,165 deals. The third place was occupied by the Conglomerates Industry with a turnover of 56.606 million shares worth N152.949 million in 695 deals. Trading in the Top Three Equities namely – Guaranty Trust Bank Plc, Zenith International Bank Plc and FBN Holdings Plc.(measured by volume) accounted for 693.443 million shares worth N7.719

billion in 5,960 deals, contributing 47.51 per cent and 54.49 per cent to the total equity turnover volume and value respectively.

Exchange Traded Products, ETPs Also traded during the week under review were a total of 3,650 units of Exchange Traded Products (ETPs) valued at N1.641 million executed in 40 deals, compared with a total of 12,016 units valued at N2.050 million transacted last week in 25 deals.

BONDS A total of 275 units of Federal Government Bonds valued at N317,435.84 were traded in 3 deals.

However, there was no transaction recorded on bonds penultimate week.

Summary of price changes Seven (7) equities appreciated in price during the week, lower than seventeen (17) equities of the penultimate week.

Fifty-six (56) equities depreciated in price, higher than fifty (50) equities of the penultimate week, while one hundred and twenty-seven (127) equities remained unchanged, higher than one hundred and twenty-three (123) equities recorded in the penultimate week.

Top Price Gainers Ashaka Cement Plc 10,42 per cent to close N26.50 per share ; Custodian and Allied Plc 4.68 per cent to close at N4.25 per share; Honeywell Flour Mill Plc 4.05 per cent to close at N1.80 per share; A.G Leventis Nigeria Plc 3.39 per cent to close at N0.61 per share; MCNCHOLS Plc 1.75 per cent to close at N1.16 per share; Learn Africa Plc 1.22 per cent to close at N0.83; Totalfinaelf Nigeria Plc 1.01 per cent to close at N150.00 per share.

MoU: From left, Second Vice President, Chartered Institute of Stockbrokers (CIS), Mr. Adedapo Adekoje, Acting President, Mr. Oluwaseyi Abe, Director, Global Business Development, Chartered Institute for Securities and Investment (CISI), United Kingdom, Mr. Kevin Moore, Registrar and Chief Executive, CIS, Mr. Adedeji Ajadi and Senior Country Representative, CISI, Dr. John Osuoha during signing of Memorandum of Understanding (MoU) between CISI and CIS in Lagos C M Y K

Top Price Losers Oando Plc declined 31.03 per cent to close at N3.80 ; Unity Bank Plc declined 27 .06 per cent to close at N0.62; Zenith International Bank Plc declined 26.82 per cent to close at N9.44; Transnational Corporation of Nigeria Plc declined by 26.32 per cent to close at 98 kobo; Guaranty Trust Bank declined 25.31 per Continues on page 18

18 — VANGUARD, MONDAY JANUARY 18, 2016

Cover

Business enterprise is the answer for change in Nigeria

From left: Rt Hon Rotimi Amaechi, Minister of Transportation; Mr Bismack Rewane, CEO, Financial Derivatives Company; Mrs Ibim sementari, convener and Founder, Business Eye Magazine and Dr Abiodun Akinkunmi, Commissioner of Finance, Lagos State during the Business Eye Magazine Round Table Discussion on Nigerian Economy in 2016 held in Lagos.

Investors’ woes worsen as market loses N1.7 trn in 10 days Continues from page 17 cent to close at N13.37; FCMB Group Plc declined 21.33 per cent to close at N1.18; FBN Holdings Plc declined 20.35 per cent to close atN3.60 per share; UACN Property declined by 19.17 per cent to close at N4.85, Cadbury Nigeria Plc decline 18.40 per cent to close at N13.30; Access Bank of Nigeria Plc declined 18.04 per cent to close at N3.77 per share.

Meanwhile, capital market operators believe that the CBN’s state-of-the-economy address which came with the Bureau De Changes, BDCs forex ban is having immediate negative effects on the economy, causing investors to withdraw from the NSE to safer securities on the continent.

Justifying the ban the CBN governor, Mr. Godwin Emefiele, had said “This fall in oil prices also implies that the CBN’s monthly foreign earnings has fallen from as high as US$3.2 billion to current levels of as low as US$1 billion.

“Yet, the demand for foreign exchange by mostly domestic importers has risen significantly.

For example, the last we had oil prices at about US$50 per barrel for an extended period of time was in 2005. “At that time, our average import bill was N148.3 billion per month. ‘’In stark contrast, our average import bill for the first nine months of 2015 is N917.6 billion per month, even though oil prices are now less than US$35 per barrel.

“The net effect of these combined forces unfortunately is the depletion of our foreign exchange reserves. ‘’As of June 2014, the stock of Foreign Exchange Reserves stood at about US$37.3 billion but has declined to around US$28.0 billion as of today. With the current economic realities in the country, the NSE, with the aim of hitting N200 trillion market cap by 2019, may well be moving C M Y K

away from its target.”

In reaction to the persistent decline in stock market performance this year, Chief Executive Office of the NSE, Mr. Oscar Onyema has advised investors to invest through portfolio approach in the market.

According to him “The current state of the market creates both challenges and opportunities for investors. We believe that taking a portfolio approach to investing provides the best risk adjusted alternative for participating in the capital market. As such, we want to ensure that the NSE provides a repertoire of products that will allow investors to create well diversified portfolios of uncorrelated asset classes.”

The NSE boss stated that the negative performance of the stock market is a reflection of the domestic economy and to some extent, international economic performance. He assured investors not to panic, saying once there is recovery in economy the stock market will equally bounce back.

“It would have been more worrisome if the economy is going down and the stock market is going up. But what is currently happening is a reflection of the heath of the nation’s economy,” he said.

Looking ahead, Onyema said while we anticipate 2016 to be a challenging year for the market and the domestic economy, “We intend to continue our collaborative efforts with the new administration and other private sector players to create a framework for financing the nation’s infrastructure and capital requirements. Additionally, we plan to work with the FGN to ensure that the appropriate messaging is conveyed to the investor community.”

The NSE boss said the exchange will in 2016 focus on executing its strategy in order to continue to provide a credible platform for financing the economy.

“To this end, we intend to intensify engagement efforts with the Federal Government of Nigeria. We have also prioritized three initiatives(demutualize the NSE, monetize market services suite, establish derivatives initiatives for 2016 aimed at achieving the Exchange’s three strategic objectives of increasing the number of new listings across five asset classes; increasing order flow in the five asset classes; and operating a fair and orderly market based on just and equitable principles” Onyema noted.

Global stock markets Oil prices slipped back below $30 on Friday, keeping alive worries about global growth that again hammered commodity currencies and left investors braced for a third straight week of losses on world stock markets.

The pan-European FTSEEurofirst 300 hit a new 13month low, while Asian shares skidded to 3-1/2 year lows. That did not bode well for the U.S. stock market open, with futures trading almost 2 per cent lower.

Oil prices, which posted their first significant gains for 2016 on Thursday, hit 12-year lows as the prospect of additional Iranian supply put the market under renewed pressure.

Brent crude fell 3.5 percent to $29.82, while U.S. crude slid almost five percent to $29.70.

Both were heading for a weekly loss of more than 10 percent following a similar tumble last week.

The collapse in oil prices has spooked financial markets and battered an array of assets from commodity, currencies to mining stocks as investors fret about the health of the global economy. A slowdown in China, long the world’s main growth engine, and volatility in its markets had made for a shaky start to 2016.

“There’s an awful lot of Continues on page 19

Another factor that must be overcome is the fact that most entrepreneurs in the country reside within the city of Abuja. Business enterprise needs to be spread about the country rather than in just the city. When starting a technology-based business an entrepreneur can reside anywhere in the country that there is an internet connection and operate a business. However, other sectors are in need of entrepreneurs as well.

The improvements Huge strides have been made in the last few years to try to tackle the many endemic problems which assail the country with political and economic stability being seen as the key weapons in attacking the corrosive influence of corruption. Whether the actions being taken on the ground now lead to dramatic improvements in levels of transparency and levels of corporate governance remain to be There have been a number of improvements that is allowing Business enterprise to grow. If these improvements continue and more are created, then Nigerian can escape its third world status and become an emerging economy.

The improvement includes: Entrepreneurs are able to control their own lives and can lives and can obtain security for their families without government interference.

The Nigerian government has now made it possible for Nigerian products to be shipped to Europe and the United States. If an individual wants to manufacture jewellery and sell it online, they can now market to U.S. and European customers.

Entrepreneurs in Nigeria are being offered tax incentives, such as not having to pay so much in taxes. Increased price ceilings also serve as a great incentive.

Modern technology is finding its way into Nigeria culture, making the country self-sufficient in the technology sector.

Although there are still barriers to break through, there is nowhere to go but up. Business enterprise is the way in which Nigerian will become a developed nation.

Opportunities There are opportunities out there to help those looking to break into business venture. Venture capital can be obtained via foundations, trusts, and NGOs. It is just a matter of researching and finding these funding opportunities.

Established in December 1999, the Small and Medium Enterprises Equity Investment Scheme (SMEEIS) instructed all Nigeria’s banks to put 10% of their pre-tax profit in order to invest in small and medium sized business of their own. As of 2006, only 26% of this funding had been used. This shows that money is there.

Nigeria also has an organization that is similar to the United State’s Small Business Administration (SBA). The Nigerian organization is The Small and Medium Scale Industries Development Agency (SMEDAN). It is very young, but working on providing entrepreneurs with funding.

Skills and Ideas Development Initiatives (SKIDI) is an NGO that is helping entrepreneurs realize their dreams in Nigeria so that they can obtain the freedom that they desires within their life. That is both financial freedom and the ability to be with their family. There is a specific focus on rural and suburban Africa, especially since rural areas do see more poverty. The poverty rate in Nigeria in rural areas stood at 40% in 2001. That was compared to the 35% in urban areas where more businesses tend to exist.

How business enterprise helps It is easy to just say that business enterprise is the answer for change in Nigeria, but other than the fact that enterprises is the answer for change in Nigeria, but other than the fact that entrepreneurs are given more freedom, it is important to evaluate other factors. For instance: More tax money flows into the government, allowing for more opportunities to be made available to Nigerians and for more programmes to be implemented that will work on reducing the poverty rate.

Jobs are created. In the United States, there are 2 to 3 new jobs created per small business that is opened. It has been determined that the figures are quite similar in Nigeria. More jobs also mean more tax money and spending that stimulates the economy.

These are the factors that make any economy operate. Money has to keep flowing in order to keep money in the pockets of citizens.

VANGUARD, MONDAY JANUARY 18, 2016 — 19

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ast week in this column I said in there was no need to continue the sale of foreign exchange by the Central Bank of Nigeria to Bureau De Change in the country as it was no longer tenable. Little did I know then that the CBN was going to act fast on it. But before that evening press conference by the CBN Governor, I received several calls, some accusing me of working for some vested interest, while others were threats of possible reprisals.

The curious thing is that some of the calls were from politicians who have been beneficiaries of the scam. The truth is that these are self serving individuals whose only interest is their pockets and stomachs.

From private investigation, operators of some of the BDC were in unholy alliance with politician to defraud the nation of its foreign exchange. At the height of the racket that was the case with exporters, it would real forex need of Nigerians will going on, Bureau De Change have been a different story. The drop considerably. It is operators simply collect the operators of Bureaux De abnormal that CBN is selling passport of several individuals Change simply used their foreign exchange to BDCs. and use them as evidence of privileged positions and access From available records, Nigeria customers who purchase forex to power that be to rip off is perhaps the only country in the world where the Central from them in making returns to Nigerians.

If in the past there were Bank sells foreign exchange CBN. But with the introduction of the Biometric Verification sincere and genuine operators directly to BDCs. Banks have long been known Number, a good number just of BDC, the arbitrage relied on their political affiliates opportunity between the official as financial intermediaries, to do the needed rate and the parallel market rate individuals and corporate attracted many unscrupulous bodies direct their financial documentation.

The question Nigerians persons into the BDC business. needs to banks. Through the should be asking is why should According to CBN figures banks there is usually a business enterprise be before the apex bank started appropriate documentation. established only on the basis selling foreign exchange to Nigerians that are avoiding that the government must BDCs, there were only 74 official channels complain of the supply its goods or raw operators in 2005. In the 10 rigour of documentation and materials, especially when the years since CBN started foreign seek refuge in BDCs. If banks government does not make exchange sales to BDCs, the can cater for Basic Travelling these products? Bureaux De number has grown to 2,800 with Allowance of $1000-5000 of Change were licensed to sell 150 applications for licenses Nigerians, why should any true foreign currencies to Nigerians. every month. CBN record businessman not want to source The supply was from CBN. showed that it used to allocate his foreign exchange from the CBN does not mint foreign $8.6 billion to BDCs per annum. bank? It is simply for dubious currencies. It only keeps it on This amount could be put to reasons. The continued behalf of the Nigerian people, better use and reallocated to raw depreciation of the Naira is due the foreign currencies the materials, plants, equipment, to scarcity of foreign exchange in the market but there is huge nation earned and monetised. fuel imports, BTA/PTA. As of today, the economy is amount of forex in the hands BDCs were buying foreign exchange from the CBN at being starved of forex but of currency speculators. Banks N197 but sold at N270. The operators of BDCs are smiling actions of the operators to their banks. They have long defeated the purpose of become centres of round government not willing to tripping. A curious look at these devalue the Naira. The strong BDCs showed that there are value of the local currency over 2,800 of them across the intended by government in the country, mostly owned by highly interest of the economy and its influential Nigerians. They citizens was not reaching were more than 5,000 before the Nigerians. It is as if the fuel CBN pruned down the number. subsidy saga was playing out They simply buy foreign again in the foreign exchange exchange from the CBN for themselves. Those who are not market.

What value were these BDCs keeping the foreign exchange adding to the currencies they purchased from the CBN at were selling? None! If BDCs home are sending them out neighbouring were earning foreign exchange through from their services and selling countries. If these speculators same at their own price, as is are taken out of the market, the

Scrap BDCs and save Naira from continued devaluation (2)

As of today, the economy is being starved of forex but operators of BDCs are smiling to their banks

are finding it increasingly difficult to sell foreign exchange to those with genuine needs.

It is now a common knowledge that Nigeria earn over 90 per cent of its foreign exchange, from crude oil sales kept in the Central purse, known as external reserve, by the CBN . Nigeria earn dollar from sale of crude oil.

This is converted into Naira and distributed among the three tiers of government. The dollar equivalent which is converted into Naira is kept in the reserve for those who need to buy things from abroad and who have reason to travel. But as times goes with rising inflation Nigerians with a bid to store value in a stable currency were increasingly buy forex from Bureaux De Change and storing them in their houses or their accounts. They started making the Nigeria economy a dollar based economy. Prices were being quoted in dollars and local banks account were swelling with dollar denominated domiciliary accounts. This was sustainable while the prices of crude were high. The nation at the time had enough foreign exchange in its reserve and the impact of the activities of these unpatriotic Nigerians were not being felt.

Unfortunately for Nigeria oil prices have since collapsed and have fallen from an average of $116 per barrel in June 2014 to $32 per barrel in January 13, 2016, representing a decline of over 70 per cent. As if this is not bad enough, there are predictions that crude prices could fall as low as $10. If Nigeria does not embark on

foreign exchange saving measures and the price crumbles to $10 per barrel, there will simply be nothing left in the foreign exchange reserve.

Data available in the CBN and The National Bureau of Statistics indicates that when oil prices were high, Nigeria was earning about $3.2 billion monthly, which were inflow into the nation’s external reserve every month. But as at January 2016, indications are that the foreign exchange inflow into the nation will be less than $1 billion monthly. This is a far cry from what the nation needs for its trade and investment.

What many Nigerians do not seem to know is that Nigeria's import bill, which used to be N148 billion per month in 2005 is now about N920 billion.

Nigeria is certainly in a very difficult position and is not in any good stead to fritter away what it has now in the name of few selfish individuals.

This government came into power with the mantra of change. If this change is to impact positively on the economy and thus the life of ordinary Nigerians, politicians and every Nigerian must come to terms that it can not be business as usual and given the difficult economic situation the nation is grappling with, the CBN must out of necessity prioritise the allocation of the scarce foreign exchange that is available to various groups/ goods/services to save the economy from further deterioration.

Nigerians must be aware of the fact that the current BDCs scandal is much similar to the rise in number to the ugly situation that happened in the oil industry when the number of oil marketers rose sharply from under 20 to almost 150 in the height of the fuel subsidy scam.

Cover Continued from page 18 uncertainty out there and oil prices continue to decline below that key $30 a barrel mark,” said Michael Hewson, chief market analyst at CMC Markets.

“The big question is where oil will bottom out and until we have some clarity on this, markets are going to remain exceedingly feral” Hewson added.

Stakeholders’ reactions Mr. Oderinde Taiwo, Chairman, Proactive Shareholders Association of Nigeria, PROSAN said “ I believed the current position of the Central Bank of Nigeria on the value of the naira is also contributing to worsening the situation at the capital market.

C M Y K

Investors’ woes worsen as market loses N1.7 trn in 10 days The fall in the price of oil is also not helping matter. Our market is dominated by foreign investors so we should expect the flow of selloffs.”

The Managing Director of Highcap Securities Limited, Mr. David Adnori, said “ For investors, especially foreign investors, the stability of the currency is essential for assurance of healthy returns on investment. So, the market will continue to experience decline A report by Financial Derivatives Company Limited (FDC), stated, “We expect the stock market’s plunge to continue just as international investors await new price

bottoms. There will be more bargain hunting but the market will recover later in the year when economic activities improve.”

Analysts Comment Vetiva Capital Management stated “Nigerian equities continued to feel the pinch of low oil prices at week close with the NSE ASI completing week-long losses to close 13% down Week on Week, w/w. Amid the intensified selloffs last week, the NSE announced that the Index Circuit Breakers Rule which halts trading in the event of extraordinary market volatility becomes effective from today

(Friday). Meanwhile, the Asian and European markets traded mostly in the red, pressured by new lows in oil price and belowexpectation economic data from China. Stocks across key sectors remained under pressure with the Financial Services sector (585bps) maintaining the lead amongst losers. We expect losses to filter into the next trading session given the persistent weakness in oil price.

Head, Research & Investment Advisory at Sterling Capital, Mr. Sewa Wusu, said “the challenge for most foreign portfolio investors is the issue of forex liquidity or if you like, currency risk in terms of availability and ease of

convertibility should the need for exit from the market arises.

“The situation is even made worse by the decline in oil prices at the international markets. The issue of currency risk has actually affected virtually all Naira denominated assets held by foreign portfolio investors. The Nigerian stock market has been ravished by the rout of bearish modulation. Aside, from this, the performances of most of the quoted companies have not also been very impressive due to low margins in terms of earnings capacity, made worse by huge finance cost to service their obligations at the expense of declaring impressive dividends to shareholders.”

20 — Vanguard, MONDAY, JANUARY 18, 2016

Banking & Finance

Skye Bank branches resume operations in Osogbo

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he three branches of Skye Bank Plc invaded by the agents of Tuns Farms Limited in Osogbo on Thursday resumed normal business operations on Friday. Tuns Farms had led its agents to disrupt operations at the branches in breach of the judicial process as appeal notices and stay of execution orders were ignored by it after they had been duly served on it by the bank.

Customers trooped into the branches for normal banking transactions, just as the bank re assured them of continued and uninterrupted services following the illegal action of the plaintiff.

Meanwhile, the Bank has described as an abuse of the judicial process and lawlessness the action of a customer, Tuns Farms Limited which illegally disrupted its operations despite a pending Notice of appeal and application for stay of execution which has been filed and served by the bank against an Oshogbo High Cour judgement in favor of the customer.

According to a statement issued by the bank, Tuns Farm abused the judicial process by approaching the High Court of Oshogbo whose judgment has been appealed against, for an enforcement order on the bank, and procured a writ of attachment, even when the High Court clearly no longer had any jurisdiction over the matter, the case having been transferred to the Appellate Courts.

The Bank stated that a Notice of Appeal and an application for Stay of Execution had been filed and served on Tuns Farms since May 2015. Tuns Farms has in fact filed necessary papers in response to the pending court processes. The Bank was awaiting hearing date for the Application when Tuns Farms invaded its banking offices in Oshogbo with thugs, criminals and area boys to disrupt its operations, and loot its assets.

The Bank has taken necessary steps to protest the obviously criminal action by Tuns Farms to the relevant law enforcement agencies, being an action that is capable of breaching the peace.

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NDIC issues deposit insurance guidelines for mobile money Stories by BABAJIDE KOMOLAFE

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he Nigeria Deposit Insurance Corporation (NDIC) has released the deposit insurance guidelines for mobile payments systems.

Mobile payment refers to the use of mobile telephone technology for payment and financial transactions.

In a statement announcing the guidelines, NDIC said that deposit insurance for mobile payment system is known as “Pass-Through Deposit Insurance scheme.”

The Corporation stated, “The “Pass-Through Deposit Insurance scheme” is the protection provided by the NDIC to mobile money

subscribers, whereby the Corporation insures funds that are deposited by a Mobile Money Operator (MMO) in the deposit money banks (DMBs). The MMO acts as a custodian on behalf of the one or more subscribers who are actual owners of the funds as if those actual owners have deposits in the deposit money banks (DMBs).

“Mobile Payments System (MPS) refers to payment services operated under financial regulation and performed through the use of mobile devices such as smart phones, cell phones, tablets, personal digital devices and other electronic devices. It is also a convenient, safe and affordable way by which subscribers make instant

transfer of funds and execute payments for goods and services from anywhere at any time without having a bank account.

“The participants of the PassThrough Deposit Insurance Scheme are: Mobile Money Operator (MMO) – An entrepreneur licensed by the CBN to carry out the business of mobile payment within the country; Payment Agent – The Agent appointed by the MPOs to receive or pay monies at various locations on its behalf.

Pool Account – Account opened and operated by an MMO in a DMB on behalf of its subscribers; Bank – Bank maintains the pool account wherein all subscribers’ balances are domiciled by the MPO; Customers – These are

SIGNING — From left: Business Executive, Corporate Banking, Sterling Bank, Adegboyega Adegun; Executive Director, Corporate & Investment Banking, Kayode Lawal; Assistant General Manager, Turkey Export Import (EXIM) Bank, Alaaddin Metin and Business Executive, Corporate Banking, Mojisola Bakare at the formal signing ceremony of $40million facility from Turkey Exim Bank secured by Sterling Bank Plc.

the subscribers to MPOs for mobile payments services; The Mobile Network Operator (MNO) – The MNO provides telecommunication network/ infrastructure which enables switching, processing and settlement for mobile payments services “ Some of the salient elements of the NDIC Pass-Through Insurance consist of the following: The subscribers of MMOs shall be insured up to the maximum coverage level of N500,000.00 per subscriber per Deposit Money Bank or the applicable coverage level for depositors in line with the NDIC Act; Subscribers’ funds in pool accounts and other deposits in the same institution under the same capacity shall be aggregated and insured up to the maximum coverage limit; “The relationship between the MMOs and their subscribers shall be based on Bare Trust Arrangement. (Bare Trust refers to an account where each beneficiary holds a separate share and is entitled to protection within the parameters of the scheme.); All KYC requirements on the owners of funds in Trust (Pool) accounts shall be fully met as specified by the CBN; The records of the Trust (Pool) account holders at the insured institutions shall clearly indicate that the account holder is an Agent or Custodian acting in a fiduciary capacity, and not the actual owner of the funds.

“The funds must belong to the individual subscribers and not the Agent or custodian; The insured institutions, MMOs and Agents shall render returns in specified formats to NDIC on predetermined frequencies; Mobile Money Operators (MMOs) shall be required to take Fidelity Bond Insurance for any losses arising from the fraudulent acts of their staff and agents. The applicable rate of the fidelity insurance shall be specified by NDIC from time to time; NDIC shall issue regulations to operators on the implementation of the PassThrough Deposit Insurance.”

CBN should stop criminalising BDCs — ABCON A

SSOCIATION of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to stop criminalising bureaux de change (BDCs) operators.

Meanwhile BDC operators have called on the apex bank to reverse its decision to stop dollar sales to the subsector.

Speaking at a press conference after an emergency national general meeting on Friday, ABCON President, Alhaji Aminu Gwadabe said that while the Association respects the right of the CBN to stop dollar sales to BDCs, it however take exception to comments by the CBN Governor, Mr. Godwin Emefiele which are tantamount to criminalising

•Operators call for resumption of dollar sales

BDCs He said, “In other to justify the decision to stop dollar sales to BDCs, the Governor resorted to casting aspersion on the business of BDCs and created the impression that all BDC operators are rent seekers, who do nothing but engage in round tripping of foreign exchange and speculative activities.

This is not so.

There are many BDCs doing legitimate business as defined by the CBN guidelines for the industry.”

Gwadabe said that rather than criminalising BDCs, the apex bank should focus on enforcing its regulations by imposing heavy sanctions on any operator caught violating its regulations.

He said that the CBN should also take responsibility for the proliferation of BDCs, as the apex bank should have suspended licensing of new BDCs after the recapitalisation exercise of 2014 which reduced the number of BDCs from over 2,500 to about 1,800.

Gwadabe said the CBN Governor also created the wrong impression about the amount of dollars the apex bank sells to BDCs. He said, “For example, in 2014, according to the quarterly economic reports of the CBN, the CBN sold $4.4 billion to BDCs while it sold $43.65 billion to banks through the Retail Dutch Auction. This reveals that out of the $48.09 billion sold by the

CBN, less than 10 percent was sold to BDCs. Yet Governor Emefiele wants the world to believe BDCs are buying most of the nation’s foreign exchange.

He alleged that the real reason the CBN stop selling dollars to BDCs was because it wants to handover the retail foreign exchange segment to Travelex, a foreign company, which repatriates most of its profits.

He called on the CBN to embrace dialogue and constructive engagement with ABCON on how to address the depreciation of the naira in the parallel market rather than introducing policies that aggravates the problem.

Vanguard, MONDAY, JANUARY 18, 2016 — 21

Corporate Finance

E-Dividend: Banks dare SEC, charge investors N3,150 verification fee

BY FAVOUR NNABUGWU

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ommercial banks in the country are flouting the directive of Securities and Exchange Commission (SEC) on the e-dividend iportal nitiative. While SEC directed that registration on the portal will be free for investors in the first 90 days, investigations reveal that some banks are charging investors as high as N3,150 to register on the portal.

Financial Vanguard investigations reveal that some banks as at Friday, charged investors as high as N3,150 for verification and stamp on mandate form.

For example, Ecobank charges N3,150; First Bank N1,050; Zenith charges N1,000 while UBA and Union Bank charge no fee.

The Director General of SEC, Mounir Gwarzo who expressed satisfaction with the level of success recorded so far with the enlightenment programme boost awareness about the portal. He urged investors to take advantage of the service and visit their registrars or banks to register.

“We have all agreed that this is the way to go. It is now left for the investors to go and register. We have agreed with all the stakeholders that for the first 90 days the registration is going to be free. After 90 days, anyone that wants to register will pay N100” “Once the e-dividend is in place, the issue of stale warrant will be of the past, the issue of travelling from one place to another to deposit the warrant will be a thing of the past; the issue of change of address will also be eliminated.

“The era of proceeds not being remitted for shares sold will be a thing of the past. The e-dividend platform with the use of BVN is what will give us that. Once we register for e-dividend, we will also benefit from the Direct Cash Settlement.

Another advantage of the e-dividend is that it will provide a very robust KYC to the operator.

“It is because of lack of KYC that we find a lot of infractions in this market. With the BVN platform which the e-dividend is leveraging on, the KYC will now be very robust. People will not be able to use all sorts of identifications to claim

GTBank to reward mobile banking customers with 100k

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HAND-OVER: From left:,Mrs Modile Faudat, Head Teacher, Holy Cross Catholic School, Lagos Island; Mr. John Olusanya, Board Member, State Universal Basic Education Board (SUBEB); Mrs. Hamda Ambah, Executive Director, FSDH Merchant Bank Limited; Mr. Rilwan Belo-Osagie, Group MD, FSDH Merchant Bank Limited; Mr. Ganiu Sopeyin, Chairman SUBEB, and Mrs Abosede Adelaja Executive Secretary SUBEB at the hand over Ceremony of renovated Holy Cross Catholic School In Lagos.PHOTO: AKEEM SALAU what does not belong to them” “The era of stale dividend and huge unclaimed dividend in the market will be a thing of the past with the launch of e-dividend payment platform. The commission will conduct intensive training for bankers and registrars on

the usage of the new portal,” Gwarzo stated.

E-dividend refers to the payment of cash dividend into a shareholder’s nominated bank through a direct credit rather than issuing a cheque or warrant.

The e-dividend portal which was launched by SEC

on July 29 last year has been designed for the use of banks and registrars to digitise the manual process of verification of shareholders’ account details and ensure efficiency in the enrolment process for e-dividend payment.

FG can finance N2.2trn budget deficit via capital market — NSE boss

By NKIRUKA NNOROM

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he Chief Executive of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has said that the outstanding federal government N2.2 trillion budget deficits could be effectively financed through the instruments in the capital market.

He stated this while appraising the performance of the stock market in 2015 and making projections for 2016, saying: “The capital market has an opportunity to effectively finance the FGN’s proposed budget deficit for 2016 and the implementation of its Medium Term Expenditure Framework (MTEF).”

He emphasized that the stock exchange exists to provide a platform for financing the economy from equity and fixed income perspective and other asset class perspective, adding that the NSE will focus on executing its strategy in order

to continue to provide a credible platform for financing the economy.

“To this end, we intend to intensify engagement efforts with the federal government.

We have also prioritized three initiatives for 2016 aimed at achieving the Exchange’s three strategic objectives of increasing the number of new listings across five asset classes; increasing order flow in the five asset classes; and operating a fair and orderly market based on just and equitable principles,” he affirmed.

“We are trying to position ourselves to be a credible platform for financing the economy. And so, given that we are frontier market, the government typically will have an inordinate influence on the economic activities and so putting ourselves in a position to be a platform to finance government deficit, for instance is something that we certainly will like to do,” he observed.

Moving along in the New Year, he said that the NSE

would ensure that stateowned enterprises that are supposed to be listed are brought to the market to unlock liquidity for the government. “So we want to continue to help to finance economic activities both from the private sector side and public sector side.”

Reviewing the macroeconomic activities in the past year, the NSE chief said: “Like many emerging markets’ governments, the Federal Government of Nigeria (FGN) is largely dependent on oil exports as its leading revenue source.

Thus FGN revenue suffered extensively from sustained low commodities prices in the global market, as well as political and economic policy uncertainty leading up to and following the general elections held in April 2015.

“Sustained uncertainty in the country led to postponed decision making by business leaders in anticipation of clearer direction on economic policies, thus slowing economic activity.

uaranty Trust Bank (GTBank), has launched the GTBankMobileWin100k competition to reward its mobile banking customers by availing them a chance to win N100,000 weekly in the Bank.

The competition will run throughout the month of January 2016 and ten lucky customers will win N100,000 weekly during the period.

To participate in the competition, customers are required to perform two banking transactions weekly on the GTBank Mobile App, such transactions include funds transfers, airtime purchases, bills payments and purchases on the SME MarketHub. Multiple entries are allowed and winners will be notified by telephone or email.

The GTBank Mobile App is a versatile mobile application that merges the bank’s internet banking and mobile money service offerings to allow customers enjoy 24/7 flexibility in carrying out banking transactions without having to visit the Bank’s offices. Using the mobile app, customers can confirm transactions, transfer funds, pay bills and check balances from the comfort of their mobile devices.

The app also host other amazing features such as the SME MarketHub; an online ecommerce platform that allows businesses owners create online stores to sell and promote their offerings to millions of buyers online.

Commenting on the launch, Segun Agbaje, Managing Director / Chief Executive Officer of GTBank said: “Understanding that customers are always on the go; mobile banking puts us in the palm of our customers and provides a unique opportunity to offer quick and more efficient ways of providing banking services.

As a Bank, we remain firm on our objective to deliver value adding services that are tailored to meet the diverse needs of our ever-growing customer base.

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22 — Vanguard, MONDAY, JANUARY 18, 2016

Corporate Report

Agricultural Sector: Full year earnings prospects promising

By MIKE UZOR

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he agricultural sector is dominated by oil palm producing companies, which are experiencing a recovery in earnings growth after a period of slowdown. The earnings prospects for the operators here usually change with changes in product yields - which is a weather dependent factor. This tends to create an unstable pattern of growth in revenue and profit.

In reflection of the changing product yields and the unstable growth in sales revenue, profit performance follows a random walk. Fiscal 2015 appears to be one of an upward step on revenue and a strong profit growth following major gains in profit margin. The sector commands some of the highest profit margins among listed companies, being locally dependent and therefore shielded from exchange rateinduced cost increases.

The sector is unable to satisfy product demand due to limited operating capacity. Local output of palm products, for instance, meets about one-third of total domestic demand. Importation has been restricted under the Central Bank’s foreign exchange conservation measures. This is expected to boost product prices and encourage domestic capacity expansion. Such is however a long gestation programme, which isn’t going to improve operating capacity in the short-term.

Okomu Oil

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komu Oil has expanded its oil palm plantation in recent years as well as processing facilities. Earnings figures have however been declining over the past three years but an upturn is expected in 2015. The company grew sales revenue by 12.3% year on-year at the end of the third quarter to N7.75 billion and may achieve the first improvement in turnover since 2012. It raised after tax profit by 36% to N2.20 billion in the third quarter, which was already well above the full year profit figure of N1.55 billion in 2014.

The strong growth in profit is expected to be maintained to full year and Okomu Oil Palm may end its three-year profit downslide in

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2015 and raise net profit to a threeyear high. The strength in profit performance in the year follows a gain in profit margin. Net profit margin has risen from 17.9% at the end of preceding year to 28.4% at the end of the third quarter of 2015.

The company earned N2.31 per share at the end of the third quarter, already above the N1.62 it reported in the 2014 full year.

Presco

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resco maintained a strong earnings growth as per the interim reports in 2015 with sales revenue growing and profit margin significantly improved. This appears to set the company on the path of another strong profit growth in 2015 after it nearly doubled profit in the prior year. At the end of the third quarter, after tax profit was already standing 35% above the full year figure in 2014.

Sales revenue grew by 16.2% yearon-year to N8.04 billion in the third quarter and is expected to stand at over N10 billion at the end of the year. After tax profit grew more than three and half times as fast as revenue to N3.52 billion at the end of the third quarter and is estimated to grow by over 86% to N4.9 billion at the end of 2015.

The company operated with a significantly reduced cost-income ratio, which lifted net profit margin from 32% in the same period last year to 44% at the end of the third quarter. The strength to grow profit margin came from a drop of 16.6% in cost of sales against the increase of 16.2% in sales revenue in the third quarter. This enabled the company to lift gross profit margin

The sector is unable to satisfy product demand due to limited operating capacity. Local output of palm products, for instance, meets about one-third of total domestic demand

from 42.2% in the same period last year to 58.5% at the end of the third quarter and raise gross profit by 61% to N4.71 billion at the end of September.

BEARISH START TO THE YEAR: WHERE IS THE BOTTOM? (Culled From Afrinvest) econd week running into 2016, the Nigerian economy and financial market appear to have taken a worse turn. Pressure on global oil prices intensified during the week (Brent Crude declined 22.6% YTD to US$29.2/b) dampening investors’ sentiments on Nigerian equities. The falling oil prices signals a further depression on the performance of fiscal budget for 2016 given the dependence of Nigeria on oil revenue. There is an increased need for the fiscal authority to review the assumptions of the 2016 budget in line with current realities.

Although the budget proposed 13.0%, 50.2% and 36.8% of 2016 total expenditure will be financed by oil, non-oil and debt revenue sources respectively, the strains on the oil component and the limited options from other financing sources seem to be threatening domestic fiscal stability.

The level of external reserves has persistently declined, shedding 0.7% in the week to close at US$28.7bn as against US$28.9bn last week Friday.

Unexcitingly, this is further compounded by the CBN’s unfriendly restrictive policies on forex which are targeted at preventing further depletion of the reserves.

The result has been the widening gap between demand and supply for the greenback. During the week, the CBN reneged on its earlier policy, announcing its decision to allow commercial banks accept foreign currency deposits but was not clear on whether foreign currency transfers or withdrawals can be made.

The Apex bank also announced its resolve not to sell foreign currency to BDCs anymore stating that operators deal more as wholesale traders rather than

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Continues on page 23

Vanguard, MONDAY, JANUARY 18, 2016 — 23

Corporate Report Continues from page 22 serving the retail end of the market. The result was a further weakening of the naira by 8.3% (closing at N300.00/US$1.00) at the parallel market in the week. Events within the global space, particularly the slowing Chinese economy have also weakened sentiments on major global markets with the contagion effect noticeable across emerging and frontier equities market.

Consequentially, Nigerian equities market suffered a major setback in the week after shedding 13.0% to bring the YTD return of the All Share Index (ASI) to -17.9% in just 10 trading days against 17.4% decline the market suffered in 2015. The tsunami of massive sell-offs in the week was noticeable across sectors, large caps and blue chip stocks underscoring the generally weak market sentiments.

In our view, the domestic macroeconomic headwinds and the global concerns have battered investors’ confidence and triggered the massive run to safety. The ASI fell to 23,514.04pts in the week similar to the levels last seen in 2011 — prompting the NSE to approve the Circuit Breaker rule which will be implemented if the market loses 5.0% in intraday trade.

In light of this bearish run, the pertinent question is, “where is the bottom?” Our analysis of the market since 2005 suggests that the bottom may be close to around the 20,000.00pts. The index has always upturned around this point as was the case in 2005, 2009 and 2011.

While this trend analysis may be valid for prior years, we are cautioned by the peculiarities of the current factors dragging equities (falling oil prices, forex uncertainties, monetary policy volatility, poor corporate earnings and global concerns).

Thus, we advise that investment decisions be structured for long term horizon. We are of the view that a clearer signal for the bottom (the inflection point) would be a rebound in oil prices and some form of clarity around forex.

Global Market Review and Outlook The global market’s poor start to the year continued this week as investors sold off on equities and junk bonds globally in a flight to safety due to increasing downside risk of a hard landing in China, credit defaults in high yield junk bonds, weaker global growth and softer commodity prices. Brent crude traded below the US$30.0pb line on Friday, with broader analysts’ outlook of a bottom ranging from US$20.0 — US$25.0/b.

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24 — Vanguard, MONDAY, JANUARY 18, 2016

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Vanguard, MONDAY, JANUARY 18, 2016 — 25

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26 — Vanguard, MONDAY, JANUARY 18, 2016

Insurance

UK flood estimated to cost over $1 bn

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he UK flooding caused by storm Desmond at the beginning of December is estimated to have caused £717 million ($1.035 billion or •950m) of insurance, and perhaps reinsurance, industry losses, according to PERILS AG. PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, provides its first estimate for the insured flooding losses related to storm Desmond.

Desmond struck the UK on the 4th December, with flooding impacts calculated by PERILS up to the 24th of the month. Over that period the insured property market loss from the flooding is estimated at £717 million, while windstorm losses from Desmond are estimated at a further £42.

Whether the event and other storms that caused floods will hit reinsurance layers remains uncertain, although it has been reported that some ILS funds have small exposures to the severe winter weather in the UK.

Insurance companies, others owe banks N790bn

By Favour Nnabugwu

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NSURANCE companies and other financial institutions are indebted to commercial banks to the tune of N790billion as at September 2015, according to the Central Bank of Nigeria (CBN)’s 2015 Quarterly Statistical Bulletin.

The indebtedness of insurance companies, capital market operators and other financial organisations to banks in the country was N763, 392.26 in December 2014 and rose to N849, 595.55 in August 2015 before it went down to N790, 241.68 as at September 2015.

Insurance companies’ total assets and liabilities increased by 3.2 percent to N817.6bn in the third quarter of 2015, representing increases of N25.1bn or 3.2 percent and N126.8bn or 18.4 percent above the levels reported in the preceding quarter and the corresponding period of 2014.

Total liquid assets of insurance sector amounted to N152.5bn, indicating an increase of 5.2 percent above the level recorded in the preceding quarter.

The 3.2 percent increase in total assets was largely attributed to the increases of N9.9bn or 5.6 percent, N7.5bn or 5.2 percent and N5.5bn or 1.8

percent in fixed assets, liquid assets and deposit retained by ceding companies, respectively.

These increases were, however, moderated by the decrease in current assets by N0.4bn or 0.3 percent.

Similarly, the expansion in total liabilities was largely accounted for by the increases of N22.2bn or 7.0 percent, N3.2bn or 4.7 percent and N1.1bn or 11.0 percent in Insurance Funds, Other liabilities and Long Term Borrowing, respectively. These increases were, however, moderated by the decreases of N0.9bn or 1.4 percent and N0.5bn or 0.1 percent in current liabilities and capital and reserve, respectively.

Total liquid assets of the companies stood at N152.5bn during the period under review, representing increases of N7.5bn or 5.2 percent and N25.9bn or 20.5 percent above the levels reported in the preceding quarter and the corresponding period of 2014, respectively. The N7.5bn or 5.2 percent increase in liquid assets was solely accounted for by the 5.2 percent increase in bank balances. The liquid assets contributed 18.7 percent to the insurance total assets during the period under review.

The long term borrowing of the insurance business stood at

N11.3bn, representing increases of N1.1bn or 11.0 percent and N1.7bn or 18.3 percent above the levels reported in the preceding quarter and the corresponding period of 2014, respectively. The 11.0 percent increase in long term borrowing was wholly accounted for by the increase in taxation. The share of long term borrowing in total liabilities was 1.4 percent during the review period while current liabilities and capital and reserves stood at N65.3bn and N332.3bn respectively.

Aggregate deposits retained by ceding companies stood at N311.6bn, representing increases of N5.5bn or 1.8 percent and N58.4bn or 23.1 percent above the levels reported in the preceding quarter and the corresponding period of 2014, respectively.

The 1.8 per cent increase in retained deposits was accounted for by the N5.4 billion or 1.9 per cent and N0.5 billion or 2.9 per cent increases in short term investments and statutory deposit, respectively. These increases were, however, moderated by the N0.5 billion or 100.0 per cent decrease in listed ordinary shares. Other investments of the insurance business amounted to N30.7bn in the review quarter, representing increases of N2.6bn

$41bn worth of assets in China's 2015 catastrophes largely uninsured

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ccording to China’s government’s Ministry of Civil Affairs, natural catastrophes and severe weather events cost the country a huge $41 billion of economic losses in 2015, a number that is far above the total covered by insurance and reinsurance.

China, despite having been the fastest developing country in recent years, remains a country where underinsurance is an issue and the protection gap opportunity is extremely evident.

Natural disasters across 2015 killed 819 people in China and a massive 186 million people were said to have been affected, either directly or indirectly, by catastrophes and severe weather events during the year.

6.4 million people had to be evacuated from their houses due to catastrophes during the year, with 1.8 million needing emergency assistance. 248,000 houses collapsed, the Ministry said, while almost 22,000 hectares of land were damaged, including 1,000 hectares of crops.

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PARTNERSHIP: From left: Managing Director of Mutual Benefits Assurance Plc, Mr Segun Omosehin and the Commercial Director, Cool World, a subsidiary of PZ Cussons, Mr. Olugbenga Kolawole at the signing of Memorandum Of Understanding (MOU) between both companies in Lagos.

or 9.3 percent and N5.6bn or 22.2 percent above the levels reported in the preceding quarter and the corresponding period of 2014, respectively.

Other investments accounted for 3.8 percent of the total assets of the industry.

Total current assets stood at N135.8bn, showing a decrease of N0.4bn or 0.3 percent below the level reported in the preceding quarter but, an increase of N20.4bn or 17.7 percent above the level reported in the corresponding period of 2014.

The 0.3 percent decrease in current assets reflected the decreases of N1.2bn or 6.4 percent and N0.5bn or 1.4 percent in outstanding premium due from and Interest, dividends and rents, respectively. These decreases were, however, moderated by the N0.9bn or 5.5 percent and N0.4bn or 0.5 percent increases in sundry debtors and amount due from reinsurers, respectively. Deposits retained by ceding companies contributed 38.1 per cent of the total assets of the insurance industry in the third quarter 2015. Fixed Assets outlay of the insurance sector stood at N187.0bn, representing increases of N9.9bn or 5.6 percent and N16.4bn or 9.6 percent above the levels reported in the preceding quarter and the corresponding period of 2014, respectively. The expansion in fixed assets was largely accounted for by the increases of N8.2bn or 7.5 percent and N2.3bn or 3.7 percent in real estate and equipment, respectively. The rise was however due to the decrease of N0.7bn or 51.8 percent in others.

Capital and reserves of the insurance industry stood at N332.3bn, representing a decrease of N0.5bn or 0.1 percent below the level reported in the preceding quarter but, increased by N22.4bn or 7.2 percent above the level reported in the corresponding period of 2014. The capital and reserves contributed 40.6 percent to the insurance industry total liabilities during the period under review.

Total current liabilities of the insurance business stood at N65.3bn, showing a decrease of N0.9bn or 1.4 percent below the level reported in the preceding quarter but, increased by N24.1bn or 58.6 percent above the level reported in the corresponding period of 2014.

Mutual Benefits, Cool World partner to provide cover for products

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utual Benefits Assurance Plc and Cool World, a subsidiary of PZ Cussons, have signed a Memorandum of Understanding (MOU) for Mutual Benefits to provide insurance cover for all products of Cool World sold in Nigeria.

At the MOU signing which took place in Lagos last week, Group Managing Director of Mutual Benefits, Mr. Akin Ogunbiyi said that with the partnership, all Cool World

products bought by customers in the country will be insured for all form of household damage ranging from fire, material damage and theft.

Ogunbiyi said, “The partnership is aimed at adding more value to the products that are sold by Cool world through insurance.”

He said that they are committed to the partnership and hoping to take it to other parts of West Africa.

Managing Director of Mutual Benefits General Insurance, Mr. Segun Omosehin said that the partnership is a way of redefining the landscape of insurance in a way that is beneficiary to the common man.

He said that they want to be able to spread insurance to all parts of the country and such partnerships and collaborations are needed for insurance to get to the grassroots.

Commercial Director, Cool World, Mr Olugbenga Kolawole, said that the partnership will bring radical changes to the retail business in Nigeria.

He said that customers don’t have to worry of any household or material damage suffered by Cool world products bought in Nigeria, adding that all products are fully insured by Mutual Benefits which is a reliable insurance company in the country.

Vanguard, MONDAY, JANUARY 18, 2016 — 27

Expected lower aggregate consumption in 2016 “An economy can only be as strong as its manufacturing base.”

Akio Morita, Harvard Business Review, May-June 1992.

(VANGUARD BOOK OF QUOTATIONS, VBQ, p 45).

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hen Morita wrote the article from which that statement was lifted in 1992, I was a Senior Lecturer/ Consultant at the Nigerian Institute of Management, NIM, and an avid reader of the Harvard Business Review. That explains why the VBQ is filled with insights from the HBR. But, in 1992, Japan was the second largest economy in the world and the second biggest manufacturer; the USA was first in both. China was nowhere in sight and the VBQ was still fifteen years away from being published. But, I had started on it.

It is perhaps no coincidence that China is now the second largest economy in the world today and perhaps the largest manufacturer.

Japan has dropped in the pecking order. That is a lesson for us in Nigeria as we enter 2016 and much of our manufacturing base is being eroded. Ask any manufacturer, if they were not closed down by December last year, and

you will be told about mounting inventory of unsold merchandise. Two giant beverage producers – Nigerian Brewery and GUINNESS – ran sales promotion campaigns for two of their flag-ship brands – GULDER and GUINNESS STOUT – well into November last year.

Desperation could not have been more boldly written. In my days as the chief Marketing executive of three breweries, sales promotion was embarked upon only during the rainy season when consumption is predictably low. By midSeptember, the hot sun drives consumers to gulp more liquid beverages than they ordinarily want to. So, no sales promotion campaigns.

What happened last year was probably unprecedented in our nation’s history since the Structural Adjustment Programme, SAP, faded from memory in 1993-4.

Manufacturers and importers sent products to the market only for them to sit on shelves on account of low demand. In

most states of Nigeria, where states provided a large percentage of the personal for people, the inability of state governments to pay salaries, as and when due, reduced aggregate consumption to its lowest level in years. For brand managers, what used to be friendly rivalry became cut-throat competition – all in pursuit of dwindling aggregate demand.

Virtually, all the discussion about the 2016 Budgets – Federal, States and Local Governments – have been focusing on the financial aspects. None had taken a critical look at what the budgets portend for manufacturers and the nation.

Most commentators, including professors of economics, can be forgiven for the benign neglect of aggregate consumption in the economic equation.

Those of us who have been charged with literally “bringing water out of stone” know better. When the economy slows down from 6-7% per annum to 3.2%, or worse, it is not an

academic exercise for the Marketing Director or Production Manager; it is a major crisis. Secure jobs are suddenly at risk, salaries are delayed, promotions are shelved and the wave of disaster spreads all the way down to the gateman. One thing is certain, aggregate consumption will drop and with that GDP growth and hopes are dashed.

In 2016, with the Federal Government budgeting to spend less; and most states, except a few self-deluded states, also planning to reduce expenditure, it requires no gift of prophecy to predict that the huge stock of unsold products brought forward from 2015 will remain on the shelves for a while. Furthermore, it is a safe bet that manufacturing output will drop significantly and purchase of raw materials and other inputs will plummet as a result. In 1984, when the nation experienced a sharp drop in crude oil prices, such as we are now facing, many manufacturers closed their gates for ever.

That is precisely the problem. When the downturn of 1984 started, most observers thought it was only temporary. But,

we have since learnt that global economic downturns are seldom temporary – especially when they involve the nations that have driven the previous boom. China and the Asian countries as well as the rest of the BRICS (Brazil, Russia, India, China and South Africa) are either in recession or slowing down all at once. That is bad news for everybody. So, this downturn may not be transient. In that event, this economic downturn threatens to take down with it several manufacturing companies on account of lower than expected aggregate consumption.

The question now remains: what is to be done? The obvious answer is: stimulate consumption.

But, that is easier said than done. The 2016 provided some of the answer. The plan to provide N5000 per month to unemployed graduates will certainly increase aggregate demand and promote production. The fear is, with crude oil prices still heading for the basement, the unemployed might be forgotten in the struggle to pay those already employed.

Micro-Finance

Commercial banks should grant loan to MfB’s – IFC Stories by PROVIDENCE OBUH

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he International Finance Corporation has advised Commercial Banks in Nigeria to see it as a duty to assist in funding Microfinance Banks (MfBs) in the country.

Country Manager for IFC Nigeria, Eme Essien-Lore, gave the advice at a function in Lagos, where she said that there are lots of potential for commercial banks to be lending to microfinance banks in the country than looking for external capital.

Essien-Lore added that only the Central Bank of Nigeria (CBN) and International lenders give out loan inform of funding to Nigeria MfI’s.

According to her, “Commercial banks in Nigeria should be lending to MfB’s, but they are not, and we will like to encourage commercial C M Y K

banks to see it as an asset class they can invest in and the benefits of that is enormous.

“If you look at MfBs that are

borrowing in Nigeria today, they are borrowing from the CBN and the other lenders are international lenders.

International lenders see value in some of the MfBs in the country and they invest in them. It is imperative for Nigeria institutions to be seeing the value of MfBs in Nigeria.

“There are lot more potential for commercial banks to be lending to microfinance banks in this country instead of

looking for external capital.

We want to see more support for microfinance in Nigeria especially microfiannce institutions that are doing extremely well in terms of reaching out to low income segment and providing them with funding they need to generate economic activity,” she said.

Financial Inclusion: Visa partners UBA, unveils SmartMoney G

LOBAL electronic payments company Visa, in collaboration with United Bank of Africa (UBA) Plc, has unveiled “SmartMoney,” a 21st century banking solution comprising a prepaid card and a mobile app for the African market and to further strenthen financial inclusion drive.

Speaking at the launch of banking solution, DMD/CEO, UBA Africa, Mr. Kennedy Uzoka said: “Modern, young Africans are constantly seeking

and devising new ways to be banked. It is with this realisation that the SmartMoney prepaid card was first developed and introduced into the market in partnership with Visa. The SmartMoney prepaid card allows young people to enjoy all the features of a bank account and the minimal costs associated with the prepaid card are a massive plus. “ Also, Country Manager for Visa in West Africa, Mr. Ade Ashaye, added, “Now that the

SmartMoney app has been conceptualized and launched, the SmartMoney card has evolved to support greater utility. Once you download the app and link it to your card, you enter into a whole new world of controlling your money.”

Meanwhile, SmartMoney provides convenience to make purchases, perform online transactions and access to cash from ATM spend, or send and receive funds between SmartMoney cardholders, just

as the partnership brings together Visa’s trusted payments technology and SmartMoney ’s mobile app experience to establish a millennial centric product platform for consumers who want to be in control of their money. Visa and UBA have launched SmartMoney in Nigeria, Ghana and Kenya before rolling out to other African markets in 2016 and the SmartMoney Visa Prepaid card can be obtained and reloaded at UBA business offices.

28 — Vanguard, MONDAY, JANUARY 18, 2016

Business & Economy

Unilever donates to IDPs

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nilever Nigeria, has begun donation of relief materials to thousands in the IDP camps in North-East Nigeria. Which include Maiduguri, Nassarawa and Yola states. These donations are currently being done through various NGOs located in these communities.

Donating these items, the External Affairs and Sustainability Manager, Mr. Tomiwa Asaolu,noted the commitment of the company toward assisting displaced persons in the North East.

“Unilever is supporting Internally Displaced Persons (IDP) in communities and IDP camps across Nigeria to provide urgently needed health and hygiene materials to those who are in dire need of it”, he said.

“It is our goal to advance the lives of Nigerians by delivering brands that help improve the health and hygiene. We believe these materials we are donating will do just that here at the camps.”

APCON to sanction agency for offensive advertisement T

he Advertising Practitioners Council of Nigeria, APCON has indicated its readiness to santion the advertising agency responsible an offensive billboard advertsement titled, "Capturing Interesting moments" The Council stated this in a rejoinder to an artcle

by Vanguard titled "Ads that are Undersmining advertising ethos".

The rejoinder signed by the Corporate Affairs Head of the Council Raph Anyacho, stated, "The Advertising Practitioners Council of Nigeria has the responsibility to regulate and control the practice of advertising in all its forms. As a public sector body, it has a responsibility to account to the public, all activities performed in furtherance of its mandates.

The Council’s span of accountability covers the

issue raised by Mr. Princewill Ekwujuru in the Vanguard of Monday, 11th January, 2016.

"Mr. Ekwujuru put on spotlight a billboard campaign titled “You Can’t Capture Controversial Moments with Dead Batteries”: New Age Chargers and Power Banks (highlighted in the write-up as “Capturing Interesting Moment”). He observed that the advertisement displayed the picture of a lady who, according to him, was showcasing her God given backside, with a camera snapping and a young guy looking lustfully at her backside and concluded that the advertisement undermined ethics and standards. He wondered how the material passed the screening process of the Advertising Standards Panel of APCON. "Mr. Ekwujuru was right in his observation. One would make

AGREEMENT: Mr. Jude Monye, Executive Director, Heritage Bank Limited and Mrs.‘Debola Osibogun, President/Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN) after Risk Managers Association of Nigeria (RIMAN) signed an agreement with the Chartered Institute of Bankers of Nigeria (CIBN) to professionalise risk management practice in Nigeria in Lagos…recently

Okagbare named FirstBank’s Brand Ambassador

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lessing Okagbare, Nigeria’s Queen of Track and Africa’s fastest woman has been named First Bank of Nigeria, FBN Limited’s Brand Ambassador.

With a large collection of medals in track and field events, she embodies the strong qualities of resilience and excellence; a reflection of FirstBank’s brand promise to always deliver the gold standard of value and excellence to its teeming customers.

FirstBank’s endorsement of Blessing Okagbare reinforces the Bank’s core values of Passion, Partnership and People while it also underpins the Bank’s stance to collaborate with its stakeholders and provide support in all aspects of their lives. The Bank is pleased to associate with Blessing’s qualities and achievements and is proud to present her as a model of hard work and exploits to the youth.

Blessing’s honors include World ranked No.1 in 100metres in the IAAF Diamond League, Shangai (May 2015), All Africa Gold Medalist, African record holder for 100m with the fastest time of 10.79 and she is currently the world ranked No.1 in women’s long jump. It is also worthy of note that her success story began at age 19, when she won the bronze medal in the long jump event at 2008 summer Olympics in Beijing, China.

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bold to say that in the business of advertisement control the regulator and the public whom advertisements are exposed to are in a partnership of trust.

The partnership requires members of the public who encounter advertisements considered by them as offensive to public taste to report that to APCON. The ‘report to APCON’ strategy is the council’s mechanism for damage mitigation when offensive advertisements escape its purview.

The Council would if satisfied about the offensive nature of the advertisement and as a damage reduction measure order the stoppage of further exposure and take appropriate disciplinary action.

"In the circumstance highlighted by Mr Ekwujuru, the advertisement concepts presented to the Advertising

P&G picks popular singer, Tiwa Savage to lead Pampers campaign

By PRINCEWILL EKWUJURU

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ROCTER & Gamble (P&G) Nigeria, a consumer goods manufacturing company has picks popular R&B singer, Tiwa Savage to lead its new campaign “#MomsKnowBest” for its flagship brand, Pampers Baby-Dry diaper.

This was disclosed at the unveiling of the campaign with the new television commercial, TVC of Pampers Baby-Dry Diaper held in Lagos.

Ehis Enekabor, Brand Marketing Director, P&G, Nigeria, said Pampers ‘#MomsKnowBest’ Campaign is about encouraging moms to discuss what is best for their babies and share useful tips with each other, because the everyday

decisions moms make about their babies, plays a role in their overall healthy development. The campaign also aims to share with Nigerian moms the improvements on Pampers Baby-Dry that have made it the driest diaper in the Nigerian market as at today In her words: “Moms know what is best for their babies as they always seek the best for them. That is why they need to know about the Pampers BabyDry diaper. Pampers diapers keep your baby dry up to 12 hours helping your baby get a dry and comfortable sleep. Part of the latest improvement is the new stretchy sides, which expands and relaxes with the baby’s tummy thereby preventing leakages. More so, the Super Gel locks wetness away better than any other diaper”.

Standards Panel of APCON which it screened and gave approval for exposure in the media was substituted by a different concept which turned out to be offensive.

After promptly tracking the offensive advertisement through its media monitoring mechanism, APCON ordered the agency to withdraw, immediately, the offensive material from all platforms on which it has been exposed.

Investigation into the circumstances of the substitution of the advertisement is going on and adequate disciplinary measures will be mated out to any person found guilty.

"Meanwhile, the agency responsible for the advertisement has taken a remedial action on the orders of APCON by re-submitting it.

The agency stated in its letter of reply to the council “our organization has been fired for the exposure of material different from the approved and as a result the approval to advertise which had been obtained before now is now revoked. In view of this we have stopped further deployment of material upon receipt of your letter”.

APCON condemns and issues severe sanctions against all forms of infractions to advertising rules and regulations.

"The Council has in place a solid structure to guarantee adequate protection to consumers of commercial communications.

The Advertising Standards Panel of APCON is the body that vets all advertisements. Based on the extant laws of Nigeria and the provisions of the Nigerian Code of Advertising Practice, the body gives or denies approval to advertisement material presented to it The Panel is made up of representatives of all stakeholders in advertising.

They bring to bear on the job of advertisements vetting vast experiences from their various rich backgrounds. " They work to ensure that advertisements are produced with all sense of social responsibility: paying attention to public taste and decency as well as the cultural values of the people of Nigeria. In case of breach of laws and rules, the Advertising Practitioners Investigating Panel is there to carryout investigations of any allegation of misconduct on a practitioner or his organization.

The outcome of the Panel’s investigation is forwarded to the Disciplinary Committee for adjudication and pronouncement of sanctions"

Vanguard, MONDAY, JANUARY 18, 2016 — 29

Business & Economy

Economy hasn't collapsed — Transport Minister

By PETER EGWUATU

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HE Minister of Transport, Mr. Rotimi Amaechi, said Nigerian economy has not collapsed as being speculated, stressing that the year 2016 is going to be tough given the fact that crude oil price has not stabilised.

Also, a renowned financial expert, Mr. Bismarck Rewane has said that the Federal Government’s fiscal and monetary policies need to be harmonised in order to give investors confidence to invest in the country.

Speaking at the Business Eye Roundtable Discussion tiled “Nigerian Economy 2016 : Charting way forward , Amaechi said “We are going to have tough time in 2016, because the crude oil benchmark that the Federal Government fixed for the Budget is less than what the price is right now. The Federal Government fixed N38 per barrel while the price now is less than N30 per barrel.

Nevertheless, Nigerian

C M Y K

economy has not bottom out as some people do say. With the corruption fight by Buhari’s administration and blocking of leakages, the economy will bounce back with time, but individuals have to make sacrifices.”

Continuing he said “If Nigerians had revolted during the period that public funds were missing and stolen things would not have been like this.

He stated that the missing $49bn oil revenue, which the former Governor of the Central Bank of Nigeria, Sanusi Lamido, alleged that the Nigerian National Petroleum Corporation did not remit into the Federation Account, would be looked into.

He said, “Even before Sanusi and President Goodluck Jonathan began to quarrel, I had to leak that letter.

Sanusi wrote that letter to the President in September, I leaked it sometime in January, and that letter was personal: ‘Mr. President, $49bn was missing,’ and I got a copy of that letter.

“Instead of the Federal Government to say we are

going to address this, they began to debate with the CBN governor and Nigerians join in the debate. Oh, it is not possible. Now, they have seen that is possible.”

Meanwhile, Rewane, who is the Managing Director of Financial Derivative Company, while analysing the economic situation of Nigeria said “The country is in crunch time.

Government has budgeted 25 increases in expenditure; subsidy has been removed. But the missing thing is monetary policy stability. The exchange rate policy needs to be changed. We had money in the past and squandered it. Now crude oil price is less than the budgeted crude oil bench mark by the Federal Government in 2016 budget. The economic reality is that 2016 would be worst for sub Saharan Africa countries. Most country would seek IMF support, but Nigeria not inclusive. The increase in interest rate in US will continue and this will likely affect some countries.”

While, proffering solution to Nigeria’s dwindling economy, Rewane said “There is need for

the monetary policy to compliment the fiscal policy.

There should be exchange rate adjustment to enhance investors’ confidence. Also, there is need for more investment in the country. So government must provide infrastructure and the ease of doing business in the country must be enhanced. Presently, the exchange rate is inefficient, so the potentials are enormous for the country. We get N21 billion remittances a year into Nigeria from people living abroad. So, if there is stability in exchange rate people will be willing to invest in the country.

Investment is what is needed to grow the economy.”

In his own comment, Mustapha Akinkunmi, Lagos State Commissioner for Finance said “Lagos State is doing well compared to other states because of prudent management. We are not going to increase tax given the state of the economy. We are doing well because of the efficient collection of taxes; we are going to deploy more technology and use private sector for the collection. Our budget is 24 per cent higher than the previous year. So, state governments need to be business friendly.

Dangote invested in Lagos because of the business friendliness of Lagos.”

Kasapreko builds $70m factory in Ghana …As Alomo wears new look

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asapreko Company Limited, Ghana has constructed a $70 million factory which makes the company

a total beverage enterprise, as it unveils new Alomo bottle.

Speaking at the launch which held in Ghana, the Group Chairman and Founder of Kasapreko, Dr. Kwabena Adjei said Kasapreko has transformed from an alcoholics company to a total beverage company with innovation leading its growth, backed by research to satisfy changing consumer needs.

He noted that the company started with just five staff and now has over 600 personnel in its workforce.

The company he said has always been guided by strong values and the 3 M’s – Quality Material, Manpower and Machinery. Adejei noted.

The Managing Director/Chief Operating Officer, Mr. Richard Adjei, said that the new factory cost about 70 million dollars and will now be producing the new water brand, Awake Mineral Drinking Water, Carbonated soft drinks and juices.

30 — Vanguard, MONDAY, JANUARY 18, 2016

“

Economy Stories by

By EMEKA ANAETO, Economy Editor

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rticulating the macroeconomic state of Nigeria’s economy as at starting line for 2016 fiscal year the inflationary pressure appeared to have sustained through last month, despite declining prices of food and related products in the international market.

At the backdrop of its research, FSDH Merchant Bank Limited, a Lagos based investment bank, said it expects the December 2015 inflation rate year-on-year, YO-Y, to inch up to 9.42 per cent from 9.37 per cent recorded in the preceding month.

The increase, according to them, would be driven by higher Food and NonAlcoholic Beverages division, and transportation division due to the fuel shortages experience across the country almost throughout the month.

On the other hand food prices at the international market in December 2015 had dropped because of abundant supply, weak global demand and an appreciating U.S. Dollar.

Consequently, the Food and Agriculture Organization, FAO, Food Price Index (FFPI) for the month of December 2015 released last week, shows that the Index averaged 154.1 points. This is 0.98 per cent lower than the revised value in November 2015.

According to the FAO, all the commodities included in the FFPI dropped except for sugar and oil prices. The FAO Meat Price Index was down 1.6 per cent on the heels of reduced import demand from the U.S. and a surge in output stemming from the European Union.

FAO Cereal Price Index was down by 1.28 per cent from the previous month, due to the expectation of additional supply from the wheat and

C M Y K

Nigeria’s inflationary pressures to persist despite global food price decline — FSDH Research maize categories. But price of rice was stable.

Dairy Price Index fell by 1.04 per cent and was at its lowest annual average since 2009. Prices of milk powders also fell and those of cheese were unchanged.

However, FAO Vegetable Oil Price Index was up by 2.10 per cent, primarily driven by soybean oil.

FAO Sugar Price Index was also up by 0.65 per cent, due to concerns over harvesting delays from the sugar exporting countries caused by harsh weather conditions.

After a brief respite in October, Nigeria’s Consumer Price Index, CPI, which measures inflation, inched higher in November.

The Headline index increased to 9.4 per cent yearon-year, marginally higher than 9.3 per cent recorded in October.

The index was driven in part by higher prices within the Food and Non-Alcoholic Beverages division as well as increases in the

Transportation division as a result of fuel scarcity during the period which came with a knock-on effect impacting transportation of people and goods across the country.

Food prices as measured by the Food sub-index also increased at higher pace in November, rising to 10.3 per cent Y-O-Y during the month, 0.2 percentage points from rates recorded in October.

All major food groups which contribute to the Food subindex increased at a faster pace during the month with the exception of the Fruits group which has been trending lower since June of 2015.

Increases in the “All Items less Farm Produce” or Core sub-index rose at the same rate in November, the second consecutive month, at 8.7 per cent, as rates have slowed or held steady for a quarter.

However, the Core subindex was weighted upon by slower increases in multiple divisions such as Clothing and Footwear; Housing Water,

Electricity, Gas and Other Fuels; and Furnishings & Household Equipment Maintenance amongst others.

On a month-on-month basis, the Headline Index as well as the Food and Core sub-indices all increased at a faster pace in November.

The Headline Index in particular increased by 0.7 per cent, 0.3 percentage points higher from 0.4 per cent in October 2015.

Factoring in the exchange rate crises FSDH noted “the higher depreciation in the value of Naira at the parallel market than the drop in food prices at the international market had a negative impact on local prices”.

The prices of food items that FSDH Research monitored in December 2015 moved in different directions. The prices of food items such as sweet potatoes, yam, palm oil, fish, meat and rice increased by 20%, 18.33%, 8.17%, 6.92%, 4.55% and 2.27% respectively.

However, the price of tomatoes, onions and Irish potatoes fell by 7.21%, 5% and 4.55% respectively.

Meanwhile, the prices of garri and beans remained unchanged.

According to the research “the movement in the prices of food items during the month resulted in 0.95 per cent increase in our Food and Non-Alcoholic Index to 185.25 points.

“We also noticed an increase in the prices of Transportation, Housing, Water, Electricity Gas and other Fuel between November and December 2015.

“Our model indicates that the price movements in consumer goods and services in December 2015 would increase the CCPI to 179.92 points, representing a monthon-month increase of 0.87 per cent.

“We estimate that the increase in the CCPI in December will produce an inflation rate of 9.42 per cent”.

EIA forecasts oil price stability in 2016, 2017

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MIDST continued decline in the international prices of crude oil across all categories last weekend, the United States Energy Information Administration, EIA, forecasts Brent crude oil prices to average USD40 per barrel in 2016 and USD50 per barrel in 2017.

Though it did not make similar forecast on Nigeria’s Bonny Light which is a class of OPEC Basket, the usual trend is for the basket to follow the direction of Brent.

The forecast was coming as United States crude oil futures fell in Asian trade on Friday, heading lower after posting the first significant gains for 2016 a day earlier.

Brent Crude dropped to USD29.32 from USD31.03 the previous day while WTI dropped to USD29.52 from USD31.20. Similarly the OPEC Basket price tumbled to USD25.00 from USD25.69.

The price crashes were coming as the prospect of

additional Iranian supply loomed over the market with OPEC secretariat saying the basket fell even before unrestrained exports from Iran hit the market.

Amidst this crises EIA also projected a decline of U.S. crude oil production to average 8.7 million barrels per day (mbpd) in 2016 and 8.5 mbpd in 2017, from an estimated average of 9.4 mbpd in 2015.

However, it further projects an increase in OPEC’s crude oil production by 0.5 mbpd in 2016, primarily due to expected increase in crude oil output from Iran lifting of its suspension by the United Nations.

But it anticipates that the build-up in global crude oil inventories is expected to slowdown in the coming economic quarters and finally halt in the third quarter of 2017 when the global oil market forces are expected to balance out.

Vanguard, MONDAY, JANUARY 18, 2016 — 31

Media & Advertising

Agencies with quality, innovation'll survive 2016, say experts Stories by PRINCEWILL EKWUJURU

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xpected Marketing Communications budget cut by advertisers in the face of difficult economic and political decisions occasioned by the slide in the international oil market is likely to trickle down to media agencies, forcing them to innovate to survive the economic hardship.

However, the growing challenges in the Nigerian economy resulting from slump in oil prices, ever rising dollar, free failing Naira, greater competitive pressure and poor governance are all said to be responsible for the pressures on businesses in Nigeria.

A sampled opinion of industry bigwigs showed that cost cutting for businesses is become imperative, as innovative and creative work will carry the day.

Dr. Phil Osagie, the Global Strategist for JSP Communications in a report said marketing operators believe that the cost cut by clients will not make clients lower quality. Osagie reiterated that “desire for the greatest value and highest quality of work at the lowest possible price, is not limited to companies in Nigeria alone. It is a universal business inclination.”

He stated further that though companies are desperate and they will to cut costs, they are also in perpetual search for quality work and they will always be willing to pay for it. The challenge for Public Relation communications business in Nigeria is to offer services to clients that are way beyond the conventional and enable clients achieve their strategic goals. This is the difference between a commodity and a brands,” Osagie said.

Similarly, CEO/Managing Director of TBWA, Kelechi Nwosu told Vanguard that already companies in various sectors are getting a firmer grasp of the challenging economic situation and are adjusting accordingly, but that 2016 promises to be an interesting year.

Further he said that nobody knows the direction of the economy until the economy gets active, the manufacturing sector is facing a lot of challenges but with better fiscal policies and budget we will get a clearer view of what will happen.

Handy packs, evidence of our continuous innovation – CHI Limited

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FROM LEFT: Chief Executive Officer, Infinix Mobility, Benjamin Jiang, Chieff Executive Officer, Jumia Africa, Jeremy Doutte, Manager, E-Commerce , Infinix Mobility, Israel Ajiboye and country Manager, Infinix Mobility, Bruno Li at the launch of Infinix Zero 3 in Lagos.

“Looking at what the economic direction will be, now it appears the economic direction of becoming clearer, so I think a lot of them ( manufacturers) will come to start supporting their brand this year if the fiscal policy seems to be expansionary.”

He however pointed out that the first quarter of the year will be tough for industries including the marketing communications sector as clients will engage in tougher negotiations, trim marketing communication budgets and demand that

agencies justify every fee charged.

According to him, “the tough time will require the operators in the Integrated Marketing Communications, IMC to innovate as the operators would not service clients the same way.”

ASUS partners Coscharis to increase revenue drive A

sus Personal Computer manufacturer and owners of Zenfone says it’s partnership with Coscharis Technologies will increase its market profile which revenue was approximately $14.5 billion in 2014.

The partnership between both companies will see Coscharis market Zenfone via via its distribution network in Nigeria.

Driven by innovation and commitment to quality, Asus said it won 4,326 awards in 2014, and widely accredited with revolutionizing the personal computer, PC market.

The phone models which are to be marketed by Coscharis include: ZenFoneSelfie, ZenFone Laser 5.5, ZenFone Go 5.0, and ZenFone C 4.5, come with comprehensive camera solutions supported

by PixelMaster technology and ZenUI software.

Speaking on the partnership, Simplice Zaongo, Nigeria Country Product Manager, ASUS, said: “We are very excited to bring our latest ZenFone family to the Nigerian market. These brand new innovations are each an empowering luxury that strikes the perfect balance of beauty, functionality and performance, and especially offers Nigerian

consumers a comprehensive camera experience via both hardware and software.”

“The entrance of the ZenFoneSelfie into the Nigerian market specially marks the berthing of this flagship product into English speaking Africa. And, we are excited that this partnership with Coscharis Technologies will ensure that smartphone users across Nigeria have ready access to ASUS’ innovative technology wherever they are and whatever their category of need,” he added.

In addition, Emomine Mukoro, Managing Director, Coscharis Technologies, noted that the company was proud to be associated with ASUS, a world leader in the new digital era.

He said: “In line with our commitment to always be in the forefront of innovative pursuits that will change the landscape for the deployment of ICT technologies in Nigeria, Coscharis Technolgies is proud to partner ASUS in the distribution of theZenFone family of smartphones in Nigeria.”

hi Limited, manufacturers of Chivita 100%, Active and Exotic now in 315ml handy pack says it’s the company’s evidence of continuous innovation.

The company said the pack is targeted at hip, trendy and On-the-Go consumers which brand watchers described as a step in the right direction .

For market watchers, the new 315ml Handy Pack would ensure more market penetration for a brand that is already positioned in the Nigeria fruit Juice market.

The new Handy Pack which is designed in a dynamic prismatic shape, with an attractive cap that is well blended into the pack, comes at an affordable price of N100. The 315ml Handy Packs contains enough juice to satisfy individual consumption and offers competitive pricing as well as value for money.

Allows consumers to take it along with them wherever they go and fits into the lifestyle of young mobile consumers.

Infinix Zero 3 enters with expanded MP space

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nfinix Mobility has introduced the latest in the Infinix ZERO series –the ZERO3 with broadened rear camera with 20.7 mega pixel, MP and 5 MP front camera.

The4 device with its 5.5 inches Full HD display, Mediatek Helio X10 octa-core processor is also entering the market with flash, 3GB RAM and 4G network.

Speaking on the new phone during the unveil ceremony held at the Ikeja City mall, Lagos Benjamin Jiang CEO, Infinix Mobility, described the ZERO3 as a phone that will delight smartphone users. His words: “At Infinix Mobility, we do not think that our loyal users have to break the bank to own a smartphone with high-end specs. With Infinix ZERO3, we are offering the latest technology in terms of hardware and software. It is a sleek and durable device crafted with premium diamond feeling tht is sure to please lovers of smartphones”.

While listing the specifications of the ZERO3, Jiang informed that The ZERO3 deploys the SONY Exmor R™ IMX230 sensor for its 20.7 megapixel rear camera. In his words: “The SONY Exmor R™ IMX230 sensor helps superior focus andtracking of fast-moving objects.

32 — Vanguard, MONDAY, JANUARY 18, 2016

(0805 220 1997)

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he PPPRA Executive Secretary, Farouk Ahmed reportedly announced, at a press briefing on December 29th 2015 in Abuja, that a revised template for fuel pricing had been approved by

the Agency; the announcement was evidently the formal manifestation of the ‘modulated pricing’ model earlier canvassed

by Ibe Kachikwu, the NNPC CEO and current Minister of State for Petroleum. Thus, with the application of the new template, petrol price will be reduced from N87 to N86 in NNPC filling stations, while other marketers would sell at a pump price of N86.50/litre.

However, in contrast to the previous static cost template,fuel prices would henceforth be reviewed every quarter to reflect fluctuations in any cost variable.

Indeed, Kachikwu had also corroborated the thrust of the new template when he emphasized in an earlier press briefing on that “ we are not going to be fluctuating prices day to day, we are going to take like an average, and I think that today when you look at the prices, we have no subsidy, because prices remain low and that is what we need to do”. Kachikwu’s statement probably suggests that fuel price has fallen below the existing subsidy threshold of N87/litre with the new pricing template; in this event, government responsibly decided to be honest enough to pass on between N1 and 50Kobo/ litre discount on petrol prices to the public, despite the oppressive N2Tn projected loan required to fund 2016 budget deficit. Worse still, government’s borrowing requirement will certainly exceed the highest ever deficit of N2.2Tn, if oil prices continue to remain well below the $38/barrel budget benchmark.

According to the minister, the PPPRA’s modulated response to fuel pricing is a demonstration of government’s “honesty in being able to sell products to Nigerians at affordable prices that make sense”. Nonetheless, the Minister is certain that we still need to get out of the subsidy debacle,

Wobbling and fumbling with fuel prices

because, according to him “the reliability and affordability of subsidy are issues we need to get away from, whether or not you believe in subsidy”.

Instructively however, if unrestrained dollar demand in the parallel market continues to wag the official Naira exchange rate, the CBN may inevitably succumb and fatally commit to another significant Naira devaluation.

However, an additional 25% Naira devaluation to bridge the wide gap between divergent Naira exchange rates would inevitably spike fuel price once again above N120/litre, irrespective of the application of the reviewed, presumed responsive PPPRA template. In this event, It would certainly be speculative to predict the nature of public response to the presumed honest reflection of cost variable by government, if fuel price again spirals unexpectedly, particularly, when crude prices conversely remain low.

Nevertheless, if Naira exchange rate depreciation persists, petrol prices will inevitably remain volatile and ultimately create severe tensions between the people and government. It is understandable that government would want to appear sensitive to the current impoverished state of

Nigerians, however, a patriotic reformist administration should also be responsible enough to take some hard decisions to save the economy, even if government becomes temporarily unpopular as a result.

Thus, It is possible that if President Buhari increases fuel price from N87 to N100/litre, the treasury will swell by almost N800m everyday from the sale of the alledged 40m litres of petrol consumed daily. Indeed, if crude oil price further dips, about N365bn could be consolidated

If Naira exchange rate depreciation persists, petrol prices will inevitably remain volatile and ultimately create severe tensions between the people and government

sadly a similar Treasury friendly price advantage has again been made possible under Buhari, ironically, also by the increasingly low price of crude oil below budget benchmark; nevertheless, another significant naira devaluation would inevitably, similarly push fuel price back into the realm of subsidy and contention between the people and government.

This column has consistently explained that weaker Naira exchange rates instigate high fuel prices which provoke public demand for subsidy; inexplicably, however, public expectation was shattered when bountiful and exceptional dollar reserves failed to strengthen the Naira exchange rate and conversely reduce fuel price, a bizarre case of “tails you lose and Heads I win”. It is unfortunate that we should rely on reduction in crude prices to bring down fuel prices and remove subsidy, when clearly, our income expectations and opportunities to develop critical social infrastructure also become severely challenged when crude oil price falls.

Furthermore, Kachikwu had also suggested in his interaction with the press on that government refineries would soon achieve production output of up to 10 million litres daily; unfortunately, however, the Minister did not indicate if the price of the products locally refined would be anyway cheaper than the equivalent imports as per public expectation.

Indeed, According to Farouk Ahmed, under the new dispensation the NNPC will be responsible for over 78% of the total fuel supplies in 2016; nonetheless, in view of the persisting pressure on the Naira exchange rate, It would be revealing if NNPC has also strategically projected an amount for fuel subsidy in their 2016

annually to reduce the clearly unwieldy N2Tn plus deficit in the 2016 Appropriation bill.

Similarly, if kerosene is also readily available and sells for about N70/litre nationwide without subsidy (rather than over N120 black market price with scarcity and subsidy), it is possible that more than N100bn could also be realised to further reduce the huge loan provision in the 2016 budget.

Incidentally, the present Administration’s game plan on fuel pricing uncomfortably mirrors former President Jonathan’s reduction of fuel price from N97 to N87/litre, prior to the 2015 elections, despite a prevailing worrisome bulging deficit which needed to be funded with high interest rates which are clearly oppressive and out of tune with sovereign debts of resource endowed Nations like ours.

In retrospect, if Jonathan had patriotically and responsibly risked pre-election popularity to reduce pressure on the economy by retaining fuel price at N97/litre or possibly even raising it up marginally to N100/litre, with an irrevocable commitment to maintain adequate supply at all times, the N600bn (15% of 2015 budget) lately approved as supplementary budget on December 1st 2015, to clear outstanding fuel subsidy bills, may not have been necessary, and our crushing debt burden would have also become lighter. Besides, fuel scarcity and the attendant social agony would probably have also become minimised, as petrol marketers would be eager to import and enthusiastically supply fuel to meet demand while a subsidy free regime prevailed in the market.

Expectedly, however, the Treasury friendly price advantage induced by the slump in crude price was, soon after, wiped out with the subsequent 30% Naira devaluation which spiked fuel price to once more ‘force’ subsidy into the existing pricing template;

budget; it would be equally of interest to know the National Assembly’s reaction to such provision.

Business & Economy

2016: WATEF confab holds in Lagos

By PROVIDENCE OBUH THE organisers of West Africa Trade & Export Finance Conference, Global Trade Review (GTR) has announced plans to host the 2016 West Africa Trade & Export Finance Conference in Lagos.

The conference scheduled to hold at the Eko Convention Centre from February 3 to 4, would open with a key address from Access Bank, on the theme, “Changing Landscape of Nigeria: Impact of the Sustained Fall in Oil Prices on the Viability of Nigeria’s Oil C M Y K

and Gas Market.”

Also, local and international delegates from the banking and financial services sectors would be discussing “Liquidity Challenges; NNPC Reforms and the Petroleum Industry Bill (PIB); The Impact of Changing Global Trade Flows and Specific Industry Case Studies.”

Conference Producer, Mr. Paul Greetham, said a statement that the conference aims to bring together the people that really make a difference in the market to discuss new strategies, address industry opportunities and to strategically align their export

policies with international financing standards.

Greetham who pointed out that Despite the region enduring a challenging period due to a reduction in oil prices, said that many fundamentals remain within the Nigerian and wider West African.

Economies.

In addition, he said that the two-day conference will provide extensive networking opportunities for domestic and international financial institutions; local SME and global corporates; lawyers; policy makers, and specialist trade finance risk analysts.

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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Media/Marketing E-Commerce Industry Micro Finance Graphics Department

Vanguard, MONDAY, JANUARY 18, 2016—33 Send Opinions & Letters to: opinions1234@yahoo.com

Esk or TTo oyo: A lif e of struggle Eskor life

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HE name, Asuquo Ita may not ring a bell in the country.

But, Eskor Toyo does amongst intellectuals, academics, economists, trade unionists, human rights activists, leftists and in university campuses across the country. However, both names refer to the same person. The real name of this revolutionary professor of Economics and moral leader of the Academic Staff Union of Universities (ASUU) is the former, while Eskor Toyo was his nom de plume which stuck and under which he became a professor.

In colonial and immediate postcolonial Nigeria, it was a crime to be a socialist, read leftist literature or travel to a socialist country. Nationalist, Mrs. Funmilayo Ransome-Kuti, mother of the famous Kuti brothers; Olikoye, Fela and Beko, was denied renewal of her passport by the Tafawa-Balewa government because she travelled to a socialist country.

A young, Lasisi Osunde, later, an economist and lecturer like Eskor, and former General Secretary of the Nigeria Labour

Congress, was tried by the British colonialists for treason because as a postal worker, he let socialist literature into the country.

Given the level of persecution of socialists in the 1940s to early 60s, some socialists used aliases to beat security and escape persecution. For example, in the early 80s, I read polemical works by two authors, Baba Omojola, and Baba Oluwide not realising that it was one and the same person. And after I linked both names, I was to be shocked in later years to learn that both were aliases as Baba’s real name was Babarinde Adewole Ajibola.

Such was the level of commitment and sacrifice of Nigerian socialist leaders of old; they were ready, like Comrade Ola Oni - whose real surname was Oniororo – to sacrifice family, name, leisure, career and life for the liberation of Nigeria from poverty, backwardness and underdevelopment.

Eskor was a teacher who taught the famous Peoples Advocate, Chief Gani Fawenhinmi at Victory College, Ikare and was a

Personnel Manager at Lever Brothers/UAC before plunging into full revolutionary work, especially in the trade unions where he was a consummate organiser along with people like Michael Imoudu, Wahab Goodluck, M.E. Kolagbodi and Baba Omojola.

He went for further studies in Eastern Europe and returned home with a doctorate. While being an academic and revolutionary, Eskor participated in partisan national politics, joining the Peoples Redemption Party (PRP) in the Second Republic in what was called ‘Entrism.’ This was the term used for revolutionaries who while advocating that the ‘decadent capitalist system should be overthrown’ enter or join liberal or ‘bourgoise’ non revolutionary parties. It was in the heat of the debates in the Labour Movement over the appropriateness of ‘Entrism’ that Eskor in dismissing the arguments of his opponents, was quoted as uttering his popular remark “Eskor shall not pontificate; Eskor shall polemicise!” This was seen as an attempt to dispel an assumed Eskor trait; the tendency to pontificate and make

In colonial and immediate postcolonial Nigeria, it was a crime to be a socialist, read leftist literature or travel to a socialist country

declarations rather than make arguments. But this was not true of Eskor as he was wont to make painstaking arguments and go to great lengths to convince.

One point I noted about him was that in his forceful way of speaking with a ring in his voice, he was less lucid and understood than when he wrote. His disdain for the dishonest, the opportunist and labour bureaucracy made him seem intolerant. But it was his nature to be unable to disguise his dislike for people on the Left and the labour leaders who betray the working people.

He worked for the formation of a number of leftist groups and pro-workers parties like the Labour Party, but he was disillusioned by the high level of opportunism in many of these organisations. In my analysis, it was in ASUU he seemed most comfortable; experiencing few disappointments and finding people he could argue and work with. It was mainly, amongst the committed intellectuals he found people he could trust.

To him, ASUU was like a baby to be protected and guided to make contributions for the sustainable political and intellectual development of Nigeria. He did not like ASUU funds being spent except on things that are absolutely essential. This was to the extent that even while on official assignments for the union, he would prefer to travel by road rather than air in order to save money for the union. Dr. Dipo Fashina, a former ASUU President described Eskor as “the ideological, moral and patriotic conscience of ASUU.”

Bayelsa guber:: Why Governor Dickson won

By Patrick Onumah

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CCORDING to the legendary Mao Tse Sung, politics is war without bloodshed. But the Bayelsa State chapter of the All Progressives Congress (APC), sees politics as war with bloodshed. The principal promoters of the party in the state have been variously described by pundits as merchants of violence because of their records in politics. The 2015 attacks and hostage taking of people by AK-47 wielding thugs at APC’s governorship primary election at the Samson Siasia Stadium in Yenagoa during the controversial governorship primary which produced Chief Timipre Sylva as its candidate in the recently concluded governorship polls left no one in doubt of what to expect if the APC failed to capture the oil rich state. The Edo State Governor, Comrade Adams Oshiomhole who chaired the panel had openly accused Sylva of masterminding the attacks on him and his members.

True to the prediction of pundits, many Bayelsans were killed and several others critically injured. The attacks were reportedly carried out by APC militant leaders led by Africanus Ukparasia fondly called General Africa and Eris Paul popularly known as Ogunboss, whose community; Peremabiri in Southern Ijaw, is now deserted with the traditional ruler of the community currently on life support at the National Hospital, Abuja as a result of attacks on him. In a press briefing by the Bayelsa State Police commissioner, Mr. Peter Ogunyawo last Tuesday, the police boss said the Force has already launched a manhunt for Ogunboss and others.

It was in this cesspool of violence in parts of the state particularly in Southern Ijaw, Ekeremor, Brass and Nembe that the election which started on December 5, 2015 was concluded on January 9 this

year with a supplementary election won overwhelmingly by the Countryman Governor, Hon. Henry Seriake Dickson of the Peoples’ Democratic Party (PDP).

Dickson polled 134, 998 votes in seven out of eight local government areas to defeat his closest rival, Chief Sylva of the APC who scored a total of 86,852 votes.

Moses Siasia of the Peoples’ Democratic Movement (PDM) had 1572.

Governor Dickson won in Yenagoa, Sagbama, Ekeremor, Ogbia, Nembe, kolokuma/Okpokuma and Southern Ijaw while his challenger, Chief Sylva won just in Brass. Even in Brass, the home of Sylva, Dickson’s popularity manifested as he won in six out of the 10 wards which make up the local government. Governor Dickson who has already received his Certificate of Return from the Independent National Electoral Commission (INEC) dedicated his diadem to God and Bayelsans who defied the intimidation and violence to reelect him. What impressed me about Dickson for which pundits have not given him enough accolades is that he cancelled the celebration of his well-earned victory in honour of those killed and injured before, during and after the polls, an action which to me, has further established Dickson as a politician of conviction.

His victory elicited spontaneous

If Dickson had been denied victory, it would have had a domino effect on the pendulum of elections in the Niger Delta and minority states in favour of the APC

jubilation across the state and Niger Delta region. The PDP national leadership, State governors, National Assembly members, leaders of thought across the country, the Ijaw nation and of course the spokesman of the APC, Comrade Timi Frank, have all congratulated the governor with many of them calling him the lion of the Niger Delta.

Former Chief Whip of the old Rivers State House of Assembly and elder statesman, Chief TKO Okorotie, believes were it not for the trust Bayelsans have for the governor as a result of his visionary, purposeful and pragmatic leadership, his delivery of concrete developmental deliverables to the people in the last four years and track record of selfless service to humanity, the rampaging APC would have captured the state.

Apart from these, Okorotie stressed that Governor Dickson’s long years in opposition politics and commitment to the Ijaw cause within the context of national interest and above all, his mobilisation of Bayelsans from all spheres of life to vote massively for the PDP helped in no small measure to stall the march of the APC in the state in the just concluded election.

Like former president, Dr. Goodluck Jonathan once said, Okorotie believes Dickson has developed Bayelsa State more than any other governor before him for which the people are eternally grateful to him. Dickson is indeed a man of the people.

It is on record that Dickson is the first governor ever to have campaigned and mobilised Bayelsans for the election by personally visiting all communities to interact with his people and even sleeping in those communities and creeks to engage voters. This strategy of mobilisation further endeared him to Bayelsans and soared his popularity rating, hence his reelection.

While declaring that APC is not on ground in the state, Okorotie said the

Eskor, after one of his extensive road journeys that took him to different parts of the country, suffered a stroke. ASUU decided to take care of the needs of a man who had helped to nurture it into maturity and guide it through rough and difficult times, especially during the long years of military rule when the union was repeatedly banned .

Eskor set out early in his youth to contribute to an independent, prosperous Nigeria based on egalitarianism and social justice.

He struggled for a country that will be a leading light for the rest of Africa. A Nigeria where nobody will go to bed hungry; where every child will have a right to education and every citizen, the right to basic needs including a roof over their heads.

His dream of a prosperous Nigeria and Africa were not fulfilled before he passed away on December 7, 2015 at 86. But his life is an example of exemplary dedication and patriotism. Those who may snigger that the ideology he dedicated his life to, is outdated which was why the Socialist bloc collapsed, are mistaken. The fractious, confused, unequal and dangerous world we live in today cannot be the alternative.

Humanity will need to rise above the prevailing ideas which have produced chaos, terrorism, mass misery, cyclic global financial problems and unimaginable refugee crises, to build an egalitarian world based on freedom, peace and social justice.

These are precisely the principles Eskor Toyo lived and died for. These are the reasons why selfless people like him will not die in our hearts.

governor’s strategy of keeping in touch with the ordinary people worked out like magic in spite of the fact that many prominent politicians dumped PDP, in spite of the fact that APC controlled federal government was determined to capture the oil-rich state, using federal might. Watchers of Bayelsa politics believe the doggedness of Dickson, his mobilisation skills, his groundswell of support and his popularity amongst the resilient electorate saved the day for PDP. Chief Okorotie for example posited that when attempts were made to foist fake results from Southern Ijaw on INEC on December 6, 2015, Dickson rose to the occasion, moved to the streets of Yenagoa, stormed radio stations, mobilising Bayelsans to troop to the streets to protest what was clearly a rape of democracy.

The people heeded his clarion call and that finally forced the commission to cancel the charade called polls in Southern Ijaw on December 7, 2015, declared the governorship election inconclusive and fixed January 9 this year for the conclusion of the election.

For me the implication of Governor Dickson’s victory is that it has deepened democracy, given hope to minorities across board and saved the country from sliding into a one party state. If Dickson had been denied victory, it would have had a domino effect on the pendulum of elections in the Niger Delta and minority states in favour of the APC. I call on the Federal Government to collaborate with the governor to address the intractable problems confronting the region because he has a head start over all the governors in the region on matters of environment, security and political mobilisation. The governor’s victory has also proved that peoples’ will always triumph over federal might which the APC had used to terrorise Bayelsans.

*Comrade Onumah, a political analyst, wrote fromYenagoa, Bayelsa State.

C M Y K

34—Vanguard, MONDAY , JANUARY 18, 2016

80th Birthday Dinner: Soyinka replies Rivers govt Ozor Uchenna REMEMBER Prof. Chinua Achebe rejected an award given to him by former President Olusegun Obasanjo on the ground that he can’t receive award from corrupt people but Prof. Soyinka knows the former Rivers State governor was owing workers yet he had the heart to allow a birthday to be organise for him by the state.. To accept a birthday party sponsored with workers salary is indeed a huge disappointment.

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Obanla Oladele Oluwatosin How many people ate the food for the state to spend such a huge sum ?

Seems they invited the all the spirits.

Mike Nmoka The Prof made a blunder to have accepted an invitation from ‘ a desperate politician who was already enmeshed in looting state funds’ and was looking for cheap popularity to

navigate himself out. Prof. cannot deny the lavish squandermania accorded him and the possible ‘Gifts’ that usually accompany such visits. The Nigeria public deserves his explanation of what actually transpired to put the records straight. This is a lesson for upright personalities especially men of God. Ogunjemiyo Tayo Prof. said “ I’m saddened but indifferent”. I think that speaks volume -for only those who listen to the wisdom of elders though.

Chioma Begünstigen Anosike It’s not an insult... he ought to know what kind of gift, gesture to accept from politicians. If he accepted the dinner, he also accepted the money.

Pillar Prof. Chinue Achebe would not have fallen for such. Corruption is meant to drag upright persons in the mud.

Buhari shouldn’t push Dasuki to say all – Abdulsalam, LP chair Etebele Julius HE earlier Buhari’s men counsel him the better for our country. It is a global practice that security votes are not accounted for like other votes.

Former presidents, heads of state, governors as well as people knowledgeable enough know how security votes were spent in the past.

However, it should be commended if Buhari in the light of change mantra attempts to sanitise the use of the vote but he should not criminalise what had been a standard in the past.

Now that Dasuki has mentioned Buhari as a beneficiary of the disbursement, should the EFCC/DSS arrest/prosecute the president like the others?

I strongly believe that all surviving past Heads of State/presidents are beneficiaries of the share; do we expect their arrest/prosecution?

I wish that Dasuki be tried in an open court so that the whole world knows about the Nigeria’s security administration or may be how we purchased our arms from the black market to fight the insurgency.

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Merceney Dasuki should mention the names of the people involved. Even if his life is on the line. He owes Nigerians that.

Adejoro Adefemi Ayoola If Dasuki did not say all, how would our money be recovered? Please don’t tell me Mr. Abdusalam collected from the illegal shared CAKE ($2.1b)?

David AluyaOvih If security votes have never being probed in the history of this country and PMB is delving into this sacred area to open a can of warms for his own pleasure he will will soon get what he is looking for. The division of the country on a platter of gold, that is what APC is looking for. Who will they rule after that?

Let’s watch.

Oshodi market demolition

Collins Joy DO NOT know why most lazy Yorubas are envious of Igbos. If you know Oshodi very well, you will equally know that is not only Igbos who do business there. Any little crisis, Yorubas turn it to a tribal fight against Igbos but the ALMIGHTY GOD pass you all.

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Chinoxl I cannot understand why they want the traders to relocated. Maybe another Shoprite is coming to Oshodi.

Abiodun Olanrewaju Adedoyin The demolition is long overdue, besides harbouring hoodlums, those shops that are not high rising are mere waste of land. We need storey buildings that can accommodate more people.

Innocent Chigbu I said it earlier that it is the Lagos State Government that usually sets fire

on all the markets in Lagos State, so that renovation can take place and shops are shared among those in public office and their families, example is the Oluwole urban mall.

It is now good they are admitting so.

I suggest the traders at the demolished Oshodi market should relocate to where the government has given to them and leave vengeance for God. Femoria Abatan A reasonable person knows that the space is a highway setback which should not have been allowed as a market in the first place. But now that the government has woken up to do the right thing sane persons should not say otherwise. The government has been so magnanimous to offer the people an alternative. If that alternative is not good enough for you, I will suggest that you relocate to Biafra to start developing it in earnest.

Oshiomhole’s comments on national conversation

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HAT exactly does the Edo State governor, Adams Oshiomhole mean by national conversation? It is meaningless, legally and politically.

We have already had a National Conference and its full Report is ready.

Let his APC and Buhari go and implement that report, not taking us back on a wild goose chase. It is in the interest of all of us in this country. Time is running out and the signs are ominous. We are tired of grandstanding and shenanigan.

Chief Pat Okupa, former AttorneyGeneral of Old Benue State.+2347036529443

FG should act fast over the suffering of the masses

Mr. President should act fast because this is the seventh month since he assumed office: Nigerians are yet to see any concrete action towards reducing their suffering. Epileptic power supply is still the order of the day, Boko Haram members are still on a killing spree.

All we have are rhetorics and plenty Oversea trips by Mr. President. Is it in your second term we would begin to see your impact? If Mr. President is serious with rebuilding Nigeria; he should stop talking and act now.

Anonymous +2347052624455

Senate orders 2016 models SUV for 109 lawmakers

It is quite unbelievable that under this austere period, that the Senate can embark on this ostentatious purchase of official SUVs at the cost of N16million each totaling N1.8billion whilst over 70 percent of the populace is languishing in abject poverty.

To rub it in further, these are not official vehicles because of the government monetisation policy, which will be discounted at 30 percent after the expiration of their tenure. It is quite unfortunate that we have these insensitive leaders. Nigerian must resist this avarice. Their budget must be pruned down further to bring sanity.

Anonymous writes in from Lagos State

Governors and minimum wages

It is most disheartening that governors can contemplate a reduction of the minimum wage of N18.000. The adduce the fall in the price of crude oil is the cause. The alternative would be

job cuts, thus increasing the index of unemployment in the country. The Labour movement has threatened a showdown. Why should the masses, who did not partake in the windfall of increase of high oil price, now bear the burden? The fall now makes them a leading casuality. They were locked out of the banqueting room while the party was on. Now, the debris is for them to clear. It is most unfair. Those who indulged most in the luxuries, while the party lasted, should now bear the brunt! Not the helpless masses. It is an overkill!.

Fidelis 08037235403

Fuel subsidy

The reason the issue of fuel subsidy subsists is because we want Nigerians and the government to see what the generality of the people are losing which a cabal is getting. It was alleged that N6.9trillion was spent on subsidy in five years in Nigeria, imagine what we can do with that in concrete development.

The government should sit down with labour to let them know the issues involved and what we can all gain including labour.

Anonymous +2349090207383

Politics on social media bill

It is unfortunate that a few elected people who enjoy public opinion and sympathy are the ones sponsoring a bill to stop innocent Nigerians from expressing their dissatisfaction on how a few people are wasting our resources to their own benefits.

Democracy allows for freedom of speech and those who sponsored the bill must go to a democractic institute and learn about tenets of democracy. The citizens are all aware that politicians are preparing ahead of 2019 elections without minding what crisis we are facing now. Some are mocking the masses through the inhuman comment on state of the nation. Why cant the politicians çollaborate to build the nation. +2348057907482

Politicians and the economy

Nigeria is a country endowned with human and natural resources yet nothing seems to be working well. What are Nigerian leaders doing with our resources? The Federal Government should explain because the hardship on Nigerians is on the high side.

Fidelis 08037235403

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, JANUARY 18, 2016—35

36 — Vanguard, MONDAY, JANUARY 18, 2016

VANGUARD, MONDAY, JANUARY 18, 2016 — 37

Missing Hong Kong publisher, Gui Minhai, seen on China TV

MISSILE TEST: US imposes new sanctions on Iran T

HE US has imposed fresh sanctions on Iranian companies and individuals over a recent ballistic missile test.

The new sanctions prevent 11 entities and individuals linked to the missile programme from using the US banking system.

The move came after international nuclear sanctions on Iran were lifted as part of a deal hailed by

President Barack Obama on Sunday as “smart”.

Four American-Iranians were also freed in a prisoner swap as part of the deal.

Among them was Washington Post reporter Jason Rezaian - whom President Obama described as “courageous”. A fifth American was freed separately.

Rezaian and two of the others freed arrived in Geneva from where they

were travelling to a US base in Germany.

The US said it had offered clemency to seven Iranians being held in the US for sanctions violations.

Negotiations over the prisoner exchange delayed the US Treasury’s imposition of the latest sanctions - originally intended to be announced in December.

Rezaian and two of the others freed arrived in Geneva from where they were travelling to a US base in Germany.

The US said it had offered clemency to seven Iranians being held in the US for sanctions violations.

Negotiations over the prisoner exchange delayed the US Treasury’s imposition of the latest sanctions - originally intended to be announced in December.

They were triggered by Iran conducting a precision-guided ballistic missile test capable of delivering a nuclear warhead last October, violating a United Nations ban.

“Iran’s ballistic missile programme poses a significant threat to regional and global security, and it will continue to be subject to international sanctions,” said Adam J Szubin, US acting under-secretary for terrorism and financial intelligence.

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Hong Kong publisher reported missing last October has appeared on Chinese state TV saying he voluntarily handed himself over to the authorities.

Gui Minhai said he turned himself in after being on the run for 12 years over a drink-driving conviction.

Mr Gui, a Swedish national, is one of five Hong Kong booksellers to go missing recently.

Thousands rallied in Hong Kong last week over the disappearances, which they suspect are politically motivated.

The Chinese state news agency Xinhua

said Mr Gui, 51, was involved in a fatal car accident in the eastern city of Ningbo, in which a female college student was killed.

It said he fled while under a suspended twoyear jail term.

“I am taking my legal responsibilities, and am willing to accept any punishment,” he told CCTV, according to Xinhua.

Mr Gui was the owner of the Mighty Current publishing house in Hong Kong. He failed to return from a holiday in Thailand in October.

Activists believe he was unlawfully transported to China because of an unpublished book about the private life of the Chinese president.

Since then, a further four employees of the tiny Causeway Bay Bookstore, known for selling works critical of China which are banned in the mainland, have gone missing.

Bill Cosby to claim immunity in sex assault case

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key piece of evidence in the sex assault case against Bill Cosby has been called into question, according to reports.

An email seen by CNN alleges that a prosecutor promised Mr Cosby’s deposition in a 2005 civil case would not be used to bring criminal charges.

In the deposition, Mr Cosby admitted drugging women during sexual encounters but said it was by mutual consent.

The deposition now forms the basis of an aggravated indecent assault charge.

Mr Cosby has denied the charge and his lawyers will now use the immunity claim to get the case in dismissed.

Former Montgomery County district attorney Bill Castor was in charge when Andrea Constand sued Mr Cosby in a civil sex assault trial in 2005, after no criminal charges were brought.

Mr Cosby settled the case for an undisclosed sum.

Mr Castor, agreed that Mr Cosby’s civil deposition would not be used to bring criminal charges.

However, the current district attorney, Kevin Steele, said there is no evidence of a signed immunity agreement, which would have had to go through agreed channels.

On Saturday, Andrea Constand’s lawyer said she never knew of such an agreement, the Associated Press news agency reported.

C M Y K

38—VANGUARD, MONDAY, JANUARY 18, 2016

a k m i D n e h W e m t a n u g a pullZeULdIKE AMECHI, NIGERIA’S 1ST — MBA ISTER AVIATION MIN

ister of ia’s first min ” etched er ig N i, h ec d ulike Am y is Goo CHIEF Mbazularly known as “The Bo when as a young p re o p lo n lk l fo his aviatio igeria politica iwe he used his name in Nple of Dr. Nnamdi Azik kiwe, Nigeria’s political disci off a knife attack on Azid president. For body to staveous governor-general an atted Amechi , first indigen zikiwe was said to have pund, ‘the Boy is his action, A hearing of all those aro uck on Amechi. saying in theithet that subsequently st t five ministers of Good,’ an ep is now among only abouive was also host Amechi who ublic government still aluth African antithe First Rep months to the young So ing hosted him in av for about six hter, Nelson Mandela h Lagos official g , fi yi d o ei Ik th t, ar ee ap tie Eboh Str , 1966, his No 5 Oko f January 15 o n . o ce ti en en d rv si te in re home town e military in Following thcated permanently to his t Area, Anambra en lo m l Govern Amechi re i South Loca n Ukpor, Nnew iew speaks o in this interv n in politics, es State. ti h g ei is h o ti in Amechi now g to the military intervener, Col. Buka Suka issues relatinr with the late coup plottExcerpts. his encounte g other national issues.

Dimka amon

•Amechi: Military intervention was never expected

By Vincent Ujumadu

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ID you expect the army to intervene into the governance of the country when they did on January 15, 1966?

It was something that was never expected. Nationalists who fought for the independence of the country through various conferences with the British colonial masters and the various political parties and sectional interests and fashioned out a country based on what the British colonialists did in 1914 by amalgamating the North and the South.

Great benefit to Nigerians Having worked very hard, we believed that we would have a big country that will be of great benefit to Nigerians and their country and Africa generally.

During the series of conferences, there were compromises here and there and we eventually founded a big nation called Nigeria. In 1962 we revised the constitution and our relationship with the British government and eventually founded a big nation called Nigeria.

When we revised the relationship with the British government in 1962, they eventually left and we designed a Republican

Constitution and became Federal Republic of Nigeria.

We ran government for six years and suddenly one bright morning in 1966, a most unpatriotic action was taken by the military. At independence, we created a military service – Army, Navy Air force- and the police which was already there and issued weapons to these armed forces to defend and protect the country against foreign aggression or any serious internal struggle.

We promoted the young ones who could never have got promotion under the colonial government, to encourage them to be patriotic.

Can you therefore assess the performance of the military within the period that they held forth in government?

Well, Gowon continued to rule after the civil war.

Murtala Mohammed took over from Gowon and Murtala was killed by some soldiers in the Army.

One of them was Bukar Dimka who I had an encounter with in Onitsha when he was a major. The killing of Murtala Mohammed brought Obasanjo into the picture and Obasanjo needed to hand over to the civilians for his own safety.

He knew that the preponderance of the military interest was in the North and

so he rushed and handed over to Shehu Shagari in 1979.

In 1983, the military struck again and took over. So if the intention of the military was to curb corruption as they claimed that politicians were corrupt, why was it necessary for one military to take over from another military?

General Buhari taking over from Shagari was to make sure that an Igbo man did not take over from Shagari.

The NPN had an agreement that after Shagari, the next president would be Igbo and thereafter a Yoruba man. So these people don’t want to hear that an Igbo man will become the president of this country.

Intention of the military Again, if the intention of the military was that noble and honourable, why was it necessary for Babangida to take over from Buhari?

And why was it necessary for Abacha to take over from Babangida? Even Abacha wanted to be life president as he created five political parties and all of them were made to nominate him as their presidential candidate?

So the military in totality misruled Nigeria for a whole 38 years thereby destroying all the foundations the nationalists and the founding fathers laid.

Talking of founding fathers and nationalists, are there some of them still living like you that you relate with?

As far as I am concerned, there are only very few. Here in the South, I am aware that I am alone. Richard Akinjide came in at a stage, but as for those who were ministers from the beginning, I am the only survivor one here in the South.

In the North, we have Shehu Shagari, Maitama Sule and Shetima Ali Mungonu. There was another one, Inuwa Wada who died a few weeks ago.

Cow and a bag of rice So as far as I can remember, there are only four or five of us still living.

Is the government taking care of the surviving nationalists?

I don’t know if any government is taking care of any of us anywhere, at least not in this part of the country.

No government in Anambra State or in Igbo land has recognized somebody like me.

When Ngige was governor, he used to send Christmas gift to me. He did it once or twice. Peter Obi did it only once. He sent a cow and a bag of rice and some drinks.

Outside that, nothing else.

The only governor that was treating me well was Continues on page 39

The killing of Murtala Mohammed brought Obasanjo into the picture and Obasanjo needed to hand over to the civilians for his own safety

Vanguard, MONDAY, JANUARY 18, 2016—39

I know that Jonathan was a child of circumstance, he was an imposition on Nigerians because Obasanjo picked him and Yar’Adua

Why Zik asked me to host Mandela for 6 months — AMECHI •Amechi: The military should remain apolitical

Continues from page 38 Theodore Orji. All others, nothing. Look at the road to my place. They only bring equipment here when election is coming. Once the election is over, they remove their equipment.

The other part of the road was done, but because this one passes through my compound, they don’t want to do it. I don’t know why they are doing it.

Removal of equipment After all I am not a politician anymore and I am not in competition with anybody.

The only thing is that when something is bad, I say it.

What was this your encounter with Dimka after the civil war?

When the war ended, I sent my brother in my Chevrolet car to purchase something and it got missing. I eventually traced the car to Onitsha Army Barracks where Dimka was a Brigade Major.

He had already removed the number and replaced it with a military plate number.

When I asked why he took my car, he pulled a gun and pointed it at me and asked why he should not kill me. I told him I did not have issues with him and asked why he should seize my car? I walked away and petitioned the Army.

One day the then ProvostMarshal, Col Anthony Ochefu drove to my house and said there was an allegation that the car was used for armed robbery.

Three days later, he came back and said that somebody should follow him to bring my car back. When the car was brought, I saw three new tyres and three batteries in it. That was how my car was returned.

After about a year, I met Dimka at the Ikeja Airport. He was wearing mufti and he told me he was Col Dimka and I shouted. He said he was sorry for what he did to me. So after the killing of Murtala Mohammed, Dimka ran away.

One day, a Reverend Father, Vincent Madike came to my house and informed me that Chief Chukwurah, the proprietor of Africa College, Onitsha asked him to come and inform me that Dimka was hiding in his house in Abatete and he didn’t know what to do and needed my advice.

I advised him to go to police headquarters in Lagos to see AIG Ezekwem and to tell him that Dimka was in his house.

When he did, they delayed him and required him to make statements. When for two days he did not come back, Dimka became apprehensive and asked Chukwurah’s wife why her husband was not back.

On the second day, I went to Abatete and I told Chukwurah’s wife that I came to see Dimka. She was surprised that I knew that

Dimka was there and I assured her that he was my friend. As we were talking, Dimka came down and I told him to be a man and be courageous as a soldier, I told him it was improper to be hiding in a man’s house. So he took off and stupidly, he was caught with girls at Itigidi in Cross River State.

You preferred Buhari to Jonathan during the last election, are you satisfied with his performance so far?

I did not campaign for any of them. I said the two presidential candidates should tell Ndigbo what they had for them in their programmes if they won.

Campaigning for Jonathan Because they refused to do that, I advised Igbo people to vote according to their consciences and not to follow the recommendation of Ohaneze led by Enwo Igariewei who were campaigning for Jonathan.

I know that Jonathan was a child of circumstance. He was an imposition on Nigerians because Obasanjo picked him and Yar ’Adua.

When Yar ’Adua could not make it, Jonathan became president of Nigeria.

Up to the time he became president, he never contested any election until 2011 and he eventually failed in his

second term bid. He surrounded himself with people of questionable character. He failed to recognize those who voted massively for him.

Questionable character Buhari has been in government for only few months. He’s trying to recover stolen funds but my grouse with him is that the war against corruption appears to be one sided.

Some of the heaviest looters are in his party and in his government. He shouldn’t concentrate on the opposition party alone.

As a matter of fact, when he is through with the looters at the federal level, he should go down to the states because there is more stealing in the states than at the federal level.

Some of the state governors were just rogues. They did things that were unimaginable.

Would you say the military of today is meeting the aspiration of the military you established at independence?

Maybe the present military is trying to correct the mistakes of the past. The military of our era up to 10 years ago were nothing to write hone about. The military should remain apolitical and I pray that they will continue to do the nation proud.

40 — Vanguard, MONDAY, JANUARY 18, 2016

Vanguard CLASSIFIED ONI—I, formerly known and addressed as Miss Oni Mojisola Oluwaseun, now wish to be known and addressed as Mrs. Iyamu Mojisola Oluwaseun. All former documents remain valid. General public please take note.

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ABIMBOLA—I, formerly known and addressed as Miss Gbadebo Abimbola Abigael, now wish to be known and addressed as Miss Gbadebo Bimbo Abigael. All former documents remain valid. General public please take note.

EWULANA—I, formerly known and addressed as Ewulana Barakat Yetunde, now wish to be known and addressed as Ameen Yetunde Adunni. All former documents remain valid. General public please take note.

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AWOLEYE —I, formerly known and addressed as Emmanuel Adeleye Awoleye, now wish to be known and addressed as Olabanji Emmanuel Adeleye.

All former documents remain valid. Lagos State University and general public please take note.

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Confirmation of Name I, Ebawaigha Stephen do hereby state that my name was shortening as Waigha Stephen in my United Bank of Africa account instead of Ebawaigha Stephen. All former documents remain valid. General public please take note.

OKON—I, formerly known and addressed as Miss Benedicta Asuquo Okon, now wish to be known and addressed as Barr.

(Mrs.) Benedicta Idorenyin Raphael.

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General public please take note.

Confirmation of Name This is to confirm that Bashir Abdullahi and Bashir Sarari Abdullahi is one and the same person, now wish to be known and addressed as Bashir Abdullahi Sarari. All former documents remain valid. General public please take note.

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Reconciliation of names This is to inform the general public that I am one and the same person variously known and addressed as Adeosun Taye Jide and Adeosun James Taiwo. All former documents remain valid. First Bank Nig Plc and general public, please take note.

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General public please take note.

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All former documents remain valid. General public please take note.

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Vanguard, MON DAY, JANUARY 18, 2016 — 41 MONDAY,

Vanguard CLASSIFIED EMMANUEL—I, formerly known and addressed as Emmanuel Dick, now wish to be known and addressed as Emmanuel Dickson.

All former documents remain valid. General public please take note.

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All former documents remain valid. General public please take note.

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All former documents remain valid. General public please take note.

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All former documents remain valid. General public please take note.

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OGBEMI—I, formerly known and addressed as Miss Toju Marcia Ogbemi, now wish to be known and addressed as Mrs. Toju Marcia Andasei.

All former documents remain valid. General public please take note.

ANYIWE—I, formerly known and addressed as Miss Racheal Chiedu Anyiwe, now wish to be known and addressed as Mrs. Racheal Chiedu Opara. All former documents remain valid. General public please take note.

OKONTA— I, formerly known and addressed as Miss Okonta Ify Liz, now wish to be known and addressed as Mrs. Akporherhe Ify Liz. All former documents remain valid. General public please take note.

EKEH—I, formerly known and addressed as Miss Ekeh O g h e n e w e r o Clementina now wish to be known and addressed as Mrs. C l e m e n t i n a Akpobasaha.

All former documents remain valid. General public please take note.

OBODO—I, formerly known and addressed as Miss Onome Obodo, now wish to be known and addressed as Mrs. Onome Ajireh.

All formerdocuments remain valid. General public please take note.

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YOU CAN BOOK YOUR ADVERT AT: TRINITY MALL, 79/81 OBAFEMI AWOLOWO WAY, IKEJA. CALL: 08028289689, 08035449960 MURPHÝ'S PLAZA 27, SANUSI FAFUNWA STREET, VICTORIA ISLAND. CALL: 08038092373, 08033163424

42 — Vanguard, MONDAY, JANUARY 18, 2016

Vanguard, MONDAY, JANUARY 18, 2016 — 43

T

ODAY, the Super Eagles of Nigeria will take to the field in their opening match of the Championship of African Nations Tournament.(CHAN) When in 2008, the President Issa Hayatou led Confederation of African Football decided to institute a competition for players who ply their trade in their country, in the African continent, many were skeptical about its relevance, appeal and possible success.

The Africa Cup of Nations is considered the third most popular competition in the world, outside the World Cup and the European Championship, yet a lot of Africa football followers were somehow uncomfortable that in a win at all cost frame, most of African countries came to the Nations Cup party with players that existed in foreign leagues, especially Europe.

CHAN was therefore designed to give domestic players an opportunity to be noticed and Foreign scouts are all over the venues here, a very contented group, who before now had to visit countries and clubs individually to replenish depleting stock of African players in Europe. With CHAN, they are given the benefit of the best in Africa and they arrive with their cheque books in tow.

Interestingly, despite the believed strength and popularity of our league, we failed to qualify for the first two editions held in Cote D’Ivoire and Sudan in 2009 and 2011 respectively. In Abidjan and Yamoussoukoro, eight teams took part. In Sudan the number had risen to 16.

By 2014 in South Africa, the competition received the backing of FIFA, thereby adding value to it, one that FIFA could use to evaluate and classify the standard of the countries that qualify.

In 2014, not only did Nigeria qualify for the first time, but went ahead to win bronze after a dramatic run that saw them coming back from a three goal deficit in the first half to beat Morocco 4-3.

As a member of NFF Technical and Development Committee, what I remember most about that competition is the protest by local coaches and league writers that the players were not a fair representation of the league, starting from first choice goal-

CHAN to the rescue ... keeper …………Yet they went on to win bronze.

On the contrary, this year, there is a consensus that the players picked for Kigali are some of the best in their various positions. Despite the enmity between football and arithmetic, I am tempted to say that we therefore have a better chance of clinching the trophy this year than we did in 2014.

Before I bring that argument to conclusion, let me open another chapter, one that is related to our national team, going forward. Some colleagues are quick to refer to this team as Super Eagles B. otherwise put, there is a superior team waiting somewhere ( ?). Where?

Today the reality, which we have to admit is that there are a lot more players in the domestic league who can more than hold their own against the foreign legion

The entry of Oliseh has not been very smooth. Here is a coach who came in at a time that our national team was supposed to be on a high, after Nations Cup and World Cup expeditions, yet the reverse was the case, hence the experiments and trials that are yet to be perfected.

Not forgetting that in the past, with due respect to the present squad, we also had quality players to choose from, from aboard. Today the reality, which we have to admit is that there are a lot more players in the domestic league who can more than hold their own against the foreign legion.

This had been manifested a couple of times prompting Coach Oliseh to make a good number of domestic league players a permanent fixture of the national team.

Today the opportunity of having a broader and wider view of what is available back home is open to the coach, going forward. After a couple of days in South Africa, the reality is today, in a competition atmosphere quite different from a thousand training matches.

Another reason that invites some interest in this competition is the ranking by FIFA. With the World Cup lurking in the background, there is need for us to use this competition to gain some few steps up the ladder of world and African ranking.

Should we win the competition, ( I heard we beat Cote D’Ivoire in a practice match) or get the silver, we will in a position to get a favourable pairing and draw when eventually we qualify for the World Cup. Perhaps I am being unnecessarily too technical.

Whatever the issue, what Nigerians are looking forward to is victory, a result of quality play that will inject confidence into our football especially in this all important year of World cup and Nations Cup qualifiers.

Starting today, Nigerians will want to insist that the FIFA ranking is “not fair” and that as far as we are concerned, Nigeria is the best playing football country in Africa, one of the best in the world and the onus is on Oliseh’s to take us back to that 1994 era that we are still holding dear in our memories.

See you next week.

Aussie Open: Djokovic, Serena ready to defend crowns D

EFENDING champi ons Novak Djokovic and Serena Williams will be hoping to get the Australian Open off to a sizzling start when they play back-to-back on Rod Laver Arena today.

The weather also looks set to do its part in keeping temperatures high from the off at Melbourne Park with peaks of 37 Celsius forecast for the opening day of the year’s first grand slam.

The two dominant players of last year, Djokovic and Williams are no strangers to the heat of the Australian summer, of course, but sweltering conditions might help expose any flaws in their early season form or fitness.

That looks less likely to be the case with Djokovic, who opens his campaign to match Roy Emerson’s record tally of six men’s singles titles against South Korea’s Chung Hyeon.

Coming off a year in which he won eleven tournaments and three of the four majors, the 28-yearold Serbian ironman should safely negotiate his opening match whatever the weather.

The condition of Williams, who faces unpredict-

•Djokovic

•Serena able Italian Camila Giorgi in her opener in the second match on Rod Laver, is more open to question.

The American has barely swung a racket since the semi-final defeat to Italy’s Roberta Vinci at last September’s US Open denied her a shot at the single season Grand Slam.

The 21-times slam champion said on Saturday the knee inflammation that has bothered her recently was no longer a problem and she was ‘at 130 percent’ for her first round tie.

Whether or not her com-

ments can be taken at face value, writing off Williams for whatever reason is a dangerous business.

It would be no surprise at all if she swatted Giorgi aside as she embarks on her bid for a seventh singles title.

Her fellow 34-year-old Roger Federer, 17-times a grand slam winner, takes centre stage in the evening session on Rod Laver Arena as he embarks on his quest for a fifth Melbourne Park crown against Georgian Nikoloz Basilashvili.

Murray keen to end Djokovic dominance A NDY Murray admits that he has spent most of the off-season trying to find a way to end Novak Djokovic’s dominance of the sport.

The British number one has lost ten of his last 11 meetings with the world’s top ranked player, including defeats in last year’s Australian and French Open tournaments, although he did secure a rare victory over the world number one in the final of the Rogers Cup during 2015. Murray, the world number two, is now hoping to achieve more con-

sistent success against his rival during 2016, starting with the Australian Open, where he has lost in the final to the Serb on three occasions. He said: “In practice, you’re always trying to improve your overall game. It’s about maybe looking at the videos of the matches and going, ‘Oh, I could improve my serve here or improve my return’.” The Scot admits he cannot solely focus on Djokovic and he knows he will be severely tested by all the opponents he will face in Melbourne and during the rest of the season.

•Murray

44 — Vanguard, MONDAY, JANUARY 18, 2016

Mozia sets new shot put record

In-fighting, corruption bane of Nigerian sports—Dalung

By Ben Efe

N

BY Jude Opara, Abuja

IGERIA’S number one shot putter, Stephen Mozia is muscling his way to world recognition as he heaved 21.03m to set a new national record and also set the pace for the 2016 season.

Mozia, a student of Cornell University in New York, USA raked in the performance at the Commodore invitational held in Nashville Tennessee at the weekend.

The throw, which erased his previous

M

INISTER of Youth and Sports, Barr.

Solomon Dalung has charged the Nigeria Olympic Committee, NOC to source for additional funds to complement what the government provide as Team Nigeria prepare for the 2016 Olympic Games in Rio, Brazil.

The minister who spoke in Abuja when he granted audience to members of the Nigeria Olympics Committee (NOC) at the weekend however, promised to ensure that the nation’s contingent to the Rio Games were adequately funded.

While applauding the NOC members and their president, Engr. Habu Gumel for remaining united, Barr. Dalung however, accused sports administrators of lacking the initiative to discover other sources of funding outside government subventions as he also identified corruption and constant in-fighting among sports administrators as some of the factors inhibiting the growth of sports in Nigeria.

“The predicament of the Nigerian sports industry is, as I have earlier mentioned, struggle and competition for leadership position, the second problem is one that is endemic to the country itself which we know very well, ‘Mr. Corruption’, the third problem of the sports industry is the lack of the initiative to exploit alternative sources of funding.

Our sports have remained very primitive because it has relied solely on intervention from the government.

And because of the steady and stable intervention coming from government, infighting is also very steady and stable in the associations.

Continued from B/P a two-week training camp in Pretoria, South Africa, has been worth it and this will be evident against the Mena of Niger.

“Our camping in South Africa helped us, it brought us together as a team. We are like a family in camp with high spirit. Victory is our target,” Thomas said.

Ghanaian-born Kofi Dan Kowa will be one of the most experienced C M Y K

national record of 20.46m is an improvement that could launch the athlete into the final of the Rio 2016 Olympics Games and a potential gold at the African Championships in Cape Town, South Africa.

The African record of 21.97m is held by South Africa’s Janus Robberts since 2001. While the world record is 23.12m held by Randy Barnes of the USA since 1990.

However, Mozia’s throw coming early in the season is an indication that he could make more improve-ments.

Akosa dies at 75

F

•Guy Lusadisu gave DRC the lead in the 44th minute against Ethiopia. DRC won 3-0.

NOGIG 2016 kicks off in Lagos P RELIMINARIES of the football event of the 2016 Nigeria Oil and Gas Industry Games kick off today at the Legacy pitch, national stadium Lagos.

Nine teams - three per group – are to compete for places in the semifinal stage. Each group winners will automatically qualify for the semi final while the best adjudged second placed team also progresses to the semifinal.

In Group A, the opening match, which comes up 8.30 am, will see oil giants and former champions, NNPC tackle Petroleum Training Institute. The match is expected to bring out the best in the two teams as they have been training and

Eagles players for Niger having been an international since 2008. He featured at both the 2012 and 2013 AFCONs for his adopted country.

He has posted foreign stints in Tunisia, South Africa and most recently India.

The daring central defender could also play as a defensive midfielder and scored in both legs of the qualifiers against Togo.

strategising in the past few weeks.

In Group B, Chevron and ExxonMobil will trade tackles in the mid afternoon fixture, while Shell and Total square up in another testy duel in Group C. The match kicks off 4.30 pm.

Tomorrow PTI will test the determination of NCDMB in the first match of the day.

ExxonMobil and NLNG will take the centre stage in the second match of the day while Total and NAOC ends the day

Continued from B/P training in Pretoria.

He however expressed caution ahead of the game, telling his players never to approach the Nigeriens with kid gloves.

According to him, gone are the days when big names determine where the pendulum of victory swings in football matches and that the introduction of CHAN by CAF has eroded the inferiority complex problem among African players.

Oliseh urged his players not to get carried away by their 2-0 win over Niger in an international friendly in Port Harcourt in 2015, rather the Home Eagles must dig deeper to

with a group C clash.

The preliminaries end January 20 with NCDMB taking on NNPC, NLNG against Chevron while NAOC(Agip) end the day with a clash against Shell.

ORMER spokesman of the West African Football Union, WAFU, Mr Austin Akosa, has died at the age of 75 in Lagos.

According to his brother, Chuka Akosa, the late former President of the Nigeria Coaches Association, was popularly known as ‘Suzy’. He died on Saturday, Jan. 16, 2016, after a brief ill-health.

Born in 1941, Akosa retired from the National Sports Commission, where he had served on many national federations as organising secretary, including the Nigeria Football Association.

He also served in the Nigeria Lawn Tennis Association in 1974 as well as the Nigeria Table Tennis Association.

Akosa was at one time on the board of the NFA in his

•Akosa capacity as President of the coaches association. He served as match commissioner in top soccer enga-gements across the African continent.

He was one of the pioneer students of the Nigeria Institute for Sports (NiSports). He was a member of the Yoruba Tennis Club. The family will in due course announce a burial plan.

We’re committed to sponsoring sports expressed the commit- Osunsina handball —Osunsina ment of the company to tourney for secondary

T

HE Mamaging Director of Megamound Invest-ment Limited, Otunba Olumide Osunsina has

Oliseh

continue the tide even though most of the players that prosecuted the Port Harcourt game were foreign-based players.

“We are ready for our game against Niger,” Oliseh said during his pre-match press conference yesterday in Kigali.

“As you can see every player in my team is match fit and ready to give their very best in this tournament.

“We have put in adequate preparations and we have been very lucky with injuries too.

Let Nigerians continue to support the Super Eagles and we will deliver by the special grace of God.”

sponsor many sporting events so as to develop the sports in the country.

Osunsina made this assertion while speaking at the final of Megamound Tennis Championship 2016 held at Ikoyi club 1938 in Lagos recently.

Osunsina, whose company has bankrolled other great sports events including the Ibadan golf tourney, Megamound golf tourney, Ikoyi and Otunba Olumide

school students in Ogun State promised that his company will also sponsor more competitions in the club and other parts of the country. Also speaking at the epic final, the Vice-Chairman of Ikoyi club 1938, Sola Adeosun who represented the Chairman of the club Major-General Mufutau Balogun (rtd) lauded Megamound for sponsoring the competition.

Continued from B/P

Niger coach

favourites.

But the Ivorien coach has refused to accept the underdog tag and instead has tipped his side to beat the Eagles.

“We are not afraid of Nigeria. We know they have a strong team, but they are beatable,” he said.

“We expect a very competitive game

against going by the quality of players in their team.

“I also believe in my players and they are in great spirit ahead of the game.

“It will be good if we can start the competition on a positive note as it will improve the confidence of my players.”

Vanguard, MONDAY, JANUARY 18, 2016 — 45

C M Y K

46 — Vanguard, MONDAY, JANUARY 18, 2016

Vanguard, MONDAY, JANUARY 18, 2016 — 47

C M Y K

Vanguard, MONDAY, JANUARY 18, 2016

Oliseh: It’s win or nothing against Niger S UPER Eagles coach Sunday Oliseh says paramount before him now would be to ensure Nigeria pick three points in today ’s African Nations Championship

CHAN: Eagles target winning start Kick-off time: 5.00pm

A

S Nigeria battle next-door neigbours Niger today in their opening game of the 2016 CHAN in Kigali, Rwanda, Super Eagles players, Christopher Madaki and Femi Thomas are hoping to begin on a winning note “It’s victory we are going for against Niger Republic. Opening games are important in competitions and we are looking forward to start the CHAN on a winning note,” said Giwa FC defender Madaki.

Enyimba goalkeeper, Thomas said he believes Continues on Page 44

•OUR TARGET...Super Eagles star, Osas pointing the way forward.

group opener against the Mena of Niger Republic at the Kigali Regional Stadium.

The former Nigeria captain maintained that he is not prepared to share the spoils with Niger Republic, adding that he and his back room staff have been able to knock the players into top shape after two weeks of intensive

Continues on Page 44

•Oliseh

We can stop Eagles — Niger coach N

IGER coach, François Zahoui, insists his side can beat Nigeria in today’s Group C African Nations Championship fixture at

the Kigali Regional Stadium.

Nigeria who came third at the last edition of the competition two years ago in South Africa head into the game as t he overwhelming

Continues on Page 44

FA CUP RESULTS

•Zahoui

In-fighting, corruption bane of Nigerian sports —Dalung p.44

CHAN: DR Congo Angola

3 0

Ethiopia Cameroon

0 1

EPL Liverpool Stoke City

0 0

Man United Arsenal

1 0

FIXTURES CHAN: Tunisia Nigeria

v v

Guinea Niger

2pm 5 pm

EPL Swansea

v

Watford

9:00 pm

QUICK CR OSS WORD CROSS OSSWORD

T OD AY'S PUZZLE ODA

FRI DAY'S ANS WERS FRID ANSWERS

Across 1 Lustre (6) 5 Torn (6) 9 Domesticated (5) 10 Deserved (6) 11 Noisier (6) 12 Decoration (5) 14 Scorch (4) 17 Gender (3) 18 Otherwise (4) 20 Consumed (5) 22 Mix (5) 23 Cut (7) 24 Send (5) 26 Singer (5) 29 Paradise (4) 30 Border (3) 32 Mature (4) 33 Broader (5) 35 Charm (6) 36 Molluse (6) 37 Storehouse (5) 38 Deposited (6) 39 Required (6)

Down 1 Penetrate (6) 2 Lasso (6) 3 Staunch (4) 4 Hell (5) 5 Ease (5) 6 Hero (4) 7 Pool (6) 8 Dashed (6) 13 Erased (7) 15 Loathed (5) 16 Sap (5) 18 Senior (5) 19 Pry (5) 21 Entrap (3) 22 Wager (3) 24 Disclose (6) 25 Repaired (6) 27 Pinched (6) 28 Halted (6) 30 Rented (5) 31 Fruit (5) 33 Paddle (4) 34 Ceremony (4)

YESTERDAY'S SOLUTIONS Across: 4, Stray 7, Precis 9, Cur 10, Mad 12, Rural 13, Iced 15, Reset 17, Resist 19, Heed 20, Greet 22, Tar 24, Desired 27, Pot 28, Erode 31, Stop 33, Dulled 35, Irate 37, Wide 38, Erase 39, Ear 41, Tan 42, Demure 43, Adder.

Down: 1, Spring 2, Severe 3, Vim 4, Sure 5, Truth 6, Awakened 8, Sari 11, Destitute 14, Deed 16, Star 18, Step 21, Restored 23, Reel 25, Soda 26, Drew 29, Odious 30, Eleven 32, Piste 34, Lead 36, Rear 40, Rep.

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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