Go, defend yourself, Buhari tells Saraki

...towards a better life for the people VOL. 25: NO. 62497

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ONLINE | www.vanguardngr.com

N150

MONDAY, SEPTEMBER 21, 2015

I regret Mama Awolowo didn't witness a new Nigeria—Buhari 10

ALLEGED FALSE DECLARATION Of ASSETS:

Go, defend yourself, Buhari tells Saraki

By Clifford Ndujihe, Henry Umoru, Ikechukwu Nnochiri & Levinus Nwabughiogu

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BUJA – PRESIDENT Muhammadu Buhari has dissociated himself from the current travails of Senate President Bukola Saraki in the hands of the Code of Conduct Bureau (CCB) and the Code of Conduct Tribunal (CCT) over a 13count criminal charge preferred against Saraki on account of alleged false declaration of assets, saying the courts have a duty to perform.

•Three-fold legal fireworks begin in Abuja today •Saraki returns to Abuja, may shun CCT

Continues on Page 6

SWF assets intact — NSIA 9 Mr & Mrs

CONDOLENCE—Governor Aregbesola (3rd left); Senator Bola Tinubu (2nd right); Dr. Kayode Fayemi (left), National Publicity Secretary, All Progressives Congress (APC), Alhaji Lai Muhammed (2nd left), Dr. Tokunbo Awolowo-Dosumu (right), and others during a condolence visit to the Awolowo family.

COLUMNISTS:

Our brothers go, marching •P.45 C M Y K

Buhari says no to Naira devaluation•P.40

Saraki in his own stew •P.53

Flood kills 53, displace 100, 420 people in 11 states 8

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6—Vanguard, MONDAY, SEPTEMBER 21 , 2015

POCKET CARTOON fisticuffs

INAUGURATION—From left: Honorary Treasurer, Institute of Chartered Accountants of Nigeria (ICAN), Mr Tayo Philips; Representative of Chairman of the occasion, Mr Samuel Anyanwu and former Chairperson, Society of Women Accountants of Nigeria, Abuja Chapter, Mrs Elizabeth Ajibola, at the investiture of new Chairperson of Abuja Chapter of the society and inauguration of the new executive in Abuja, yesterday. Photo: NAN.

Go, defend yourself, Buhari tells Saraki Continues from Page 1 This came as Abuja, the nation’s capital city hosts a web of high-wire intrigues and three-fold legal fisticuffs over the issue today.

Meantime, Saraki returned to Abuja after a short trip to Ilorin, the Kwara State Capital.

Saraki and a host of senators were said to be meeting in Abuja, last night over the issue.

Details of the strategic meeting were not available at press time.

Also, members of the Senate Unity Forum, SUF, an anti-Saraki group in the Senate were, yesterday, engaged in a marathon meeting. It was gathered that the senators who met in Abuja in an undisclosed venue, were said to have gathered to strategize ahead of the resumption of the Senate.

According to a source, the meeting was a follow up to the one held by senators loyal to Saraki, weekend.

Leave Buhari out of Saraki’s trial-Presidency While saying that it will not tolerate claims linking President Buhari to the matter, the presidency added that the speculation that CCB and CCT only act on external influence was unfounded.

A statement by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu said: “There is no place in law that the Bureau and the tribunal should take instructions from any quarters.”

According to him, “as an independent institution equal to any superior court of record,

IT'S UP TO YOU

BY AYO ADIO T is the commitment to your goals that attracts the provision you require. Nothing will happen for you until and unless you commit. It is commitment that ensures providence.

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TAKE HEART

BY ELLA RANDLE

Forgiveness is the attributes of the strong —Mahatma Ghandi

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HEN people act unkindly, they eclipse light and love from their life. Always try to forgive, when you direct love towards someone you previously resent, you achieve a lot but mainly these three things. First, it frees you from the pain and anguish of anger, secondly, it breaks undesirable patterns, since you always attract what you think about and thirdly, it heals the other person but the first recipient of the healing is youself.

SAYINGS OF OUR PEOPLE

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TYLE is what should be shown to a stranger, if it is exhibited before dear ones, it becomes an attitude.

the tribunal is set up by the constitution to determine the issue of default, false declaration or forgery in assets declaration."

Shehu said that the matter was purely a judicial process and had nothing to do with the presidency. He advised the affected parties to also use the courts to acquit themselves of the allegations.

According to Shehu, the president cannot interfere with the judicial process by stopping the Judge. He reiterated President Buhari’s avowed commitment to the fight against corruption no matter whose ox is gored, saying that the President has sworn to protect the constitution.

“If anyone has an axe to grind with what they are doing, they should do it in a judicial manner by challenging those actions in a proper court of law. Let them hire a good team of lawyers to prove their innocence.

“Government has no desire to persecute anybody. The President has vowed to respect the rule of law and this is what he is doing by staying out of this matter.

He has said times without number that the war against corruption has no sacred cows.

Even if the President wants to help, there is no way he can do anything.

Is he going to ask the judge to stop the trial?

“It is purely a judicial process, the type of which are routinely dealt with by the CCB and the CCT. There are many cases like this that are going on. The President has sworn to an oath to protect the constitution and will not violate that oath”, Shehu said.

Three-fold legal

One leg of the triangular legal battles will be at the CCT, where Justice Danladi Umar will be expecting the Inspector General of Police, Mr. Solomon Arase and other security agencies to produce Saraki for arraignment.

Saraki refused to appear before the CCT on Friday and sent his team of lawyers led by former President of the Nigeria Bar Association (NBA), Mr. J.B Daudu (SAN) to file a memorandum of conditional appearance on his behalf. Justice Umar in issuing a bench warrant said that having sworn to protect the constitution Saraki should have shown respect to the tribunal and appeared.

The second leg will be at the Federal High Court Abuja, where Justice Ahmed Mohammed is also expecting the Ministry of Justice, the chairmen of the CCT (Justice Umar) and the CCB, Mr. Sam Saba over the charge against Saraki. Justice Mohammed had on Thursday summoned the trio to appear before him today after hearing Dr. Saraki’s ex-parte application.

And the third front is at the Court of Appeal where Saraki has gone to challenge the powers of the CCT to try him as well as the refusal of the tribunal to discharge the bench warrant for his arrest, adding that the CCT acted without jurisdiction by assuming jurisdiction over a charge that is being challenged at the Federal High Court.

Saraki returns to Abuja Meanwhile, Saraki’s Spokesman, Mr Yusuph Olaniyonu, yesterday, dismissed as false, reports that Saraki was hiding. He said in a telephone chat: "No. we are just arriving Abuja from Ilorin. Why will he leave Nigeria? For what?

We are in Abuja. At least you know where he lives, you can come and have dinner with him."

Asked if the Senate President will appear before the CCT, he said: "I can’t answer that question. It is a legal matter, only his lawyer will answer but you know there are three angles to the matter. You have the Federal High Court, CCT and Court of Appeal."

Saraki may appear before high court A source close to the

Senate President who spoke to Vanguard on grounds of anonymity, yesterday, stressed that Saraki would not be comfortable to appear before the CCT today, “having regards to the hurried way the Justice Danladi Umar-led panel issued a bench warrant against him on Friday based on a mere oral application”.

However, the source, who is part of Saraki’s legal team, but not authorised to speak on his behalf, said his client would rather prefer to appear before Justice Ahmed Mohammed of the Federal High Court in Abuja who is presiding over the suit seeking to halt the proceeding of the CCT. Justice Mohammed had on Thursday adjourned till today to hear Saraki’s suit against both the tribunal, the CCB, the Ministry of Justice and the deputy director in the office of the Attorney General of the Federation, Mr. M.S. Hassan, who signed the charge against the Senate President.

“You will recall that whereas the CCT commenced its sitting on Friday, the same day it hurriedly issued a bench warrant against the Senate President, Justice Mohammed of the Federal High Court had earlier on Thursday delivered a ruling that ought to have put the proceeding of the CCT in abeyance.

“Justice Mohammed was categorical when he summoned the Chairmen of both the CCT and the Code of Conduct Bureau to appear before him today to show cause. When you are asked to come and show cause, it means that you should come and adduce reasons why you should be allowed to proceed with a planned action.

“The record before the Federal High Court which is a superior court to the CCT shows that the subject matter of the ex-parte motion marked FHC/ABJ/CS/775/15, bothers on the legal

propriety of the proceeding before the tribunal.

“If a court of competent jurisdiction had asked you to come and show cause why you should be allowed to do a specific thing, and you are notified about the ruling of the court, yet you go ahead to do exactly the same thing the plaintiff is trying to prevent, does that not in itself epitomise lack of respect for a constituted authority?"

Meantime, effort to reach Saraki’s lead counsel, Mr. Daudu, SAN, yesterday, proved abortive. Similarly, repeated calls to the phone line of Mr. Mahmud Magaji, SAN, who also represented the Senate President at the tribunal on Friday, were not answered.

Senators speak Some senators loyal to Senate President Saraki have decried Saraki’s travails, saying that the ruling All Progressives Congress, APC was drifting Nigeria into a state of anarchy.

Commenting on the development, Senator Sonni Ogbuoji, PDP, Ebonyi South noted that the current travail of the President of the Senate was an indication that the APC has no programme of governance for the country but to use state apparatus to witch-hunt perceived political enemies, adding that the CCT was treating Nigeria to a “new form of Constitution”, whereby a deputy director instead of the Attorney-General of the Federation was the one that took Saraki to court.

Describing Saraki’s treatment as politically motivated, Senator Ogbuoji noted that those behind the saga were not fighting for the growth of democracy, but for their selfish interest, which he said was to the detriment of the country.

When asked whether he would advise the President of the Senate to resign in view of the

Continues on Page 52

Vanguard, MONDAY, SEPTEMBER 21, 2015—7

Bank manager, dispatch rider arrested over foiled robbery

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By Akpokona Omafuaire

ARRI—THE operations manager and dispatch rider of a bank (identity withheld) in Effurun, Delta State, are cooling off in police custody after a foiled bank robbery attempt.

Police apprehended the duo shortly after the robbery was foiled by men of Special Anti-Robbery Squad, SARS, on September 4, 2015.

This was revealed yesterday in a statement by DSP Celestina Kalu, Delta State Police Public Relations Officer.

She said: “Following credible information that a gang of armed robbers had finalised plans to rob the bank on Effurun/Sapele Road, by Refinery Junction, Warri, operatives of SARS mounted surveillance around the bank.

“At about 5.23pm of the aforementioned date, the hoodlums invaded the said bank, but they were successfully repelled by a combined team of SARS operatives and mobile policemen on duty at the bank.

Meanwhile, the operation manager of the bank, one Francis Enebeme ‘m’, and one Wilfred Akah ‘m’, the bank’s dispatch rider, who were allegedly involved in the planning and execution of the foiled robbery operation, have been arrested and are undergoing investigation.

“Various sums of money hidden in the offices by the suspects were equally recovered,” she said.

Kalu added that Police investigation was ongoing.

Scores feared dead as multiple explosions rock Maiduguri M

By Ndahi Marama

AIDUGURI—FRESH multiple explosions have rocked Ajilari Railway cross in Gomari Airport ward of Maiduguri metropolis leaving scores of people dead and many others critically injured according residents living around the affected areas.

Ajilari cross is an outskirt of Maiduguri which has witnessed series of Boko Haram attacks including bombings in recent past.

The explosions which were suspected to have been masterminded by suicide bombers occurred simultaneously at about 7:38pm, while the last

one took place at about 8pm which forced many residents to flee into the city for safety.

A survivor, Mallam Ali Babagana, based in Alilari told Vanguard on phone that the incident occurred at a popular telecommunication service point where many people gathered to buy GSM recharge cards and transact other petty businesses.

“I was close to the scene of the multiple blasts, but God (Allah) saved my life as many were feared dead and injured. I saw many shattered bodies of human beings at the scene before I ran away for my dear life,” Babagana said.

Another source said that he heard explosions suspected to

Ayodele Adedeji, alleged impersonator.

have been carried out by some male and female suicide bombers who sneaked into the town from Sambisa forest.

“Already, we have started moving out of Ajilari for a safer place into the main town of Maiduguri. Many dead bodies littered the scene of the blasts as we sought for an escape route to Gomari Airport,” the source said.

In another development, some suspected members of Boko Haram sect ambushed an operational vehicles of security forces along Maiduguri-DikwaGamboru Ngala road on Saturday.

Dikwa and Ngala were captured by terrorists two months

Dabeshi Umoru, alleged rapist.

Man, 37, in Police net for defiling minor Another arrested for parading as soldier

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By Esther Onyegbula

AGAMU—POLICEMEN attached to Sagamu Division of Ogun State police command on Saturday at 6:pm arrested a 37-year-old man, identified as Dabeshi Umoru, for defiling a minor around Dadajira Street, Sabo, Sagamu.

Vanguard learned the father of

the victim, who reported the incident to the police, stated that the suspect had forccibly had unlawful carnal knowledge of her daughter on Friday evening.

It was gathered that the suspect did not deny the allegation. The matter will be charged to court immediately the case is transferred to the Department of Criminal Investigation and

Intelligence, Eleweran, Abeokuta to enable the command gather credible evidence to arraign the suspect.

However, the Commissioner of Police in Ogun State, CP Abdulmajid Ali, condemned the act and vowed to deal decisively with anyone caught in the barbaric act in the state. He also cautioned parents and guardians

Police rescue 75-year-old kidnap victim in Delta

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By Festus Ahon

SABA—THE Police in Delta State, weekend, rescued a 75-year-old woman, who was reportedly kidnapped by unknown gunmen from her farm at Ezionu village, Ukwuani Local Govermment Area of Delta State.

The suspected abductors, according to dependable sources, while fleeing with their victim who was identified as Ogaraya C M Y K

ago, but recently the Chief of Army Staff, General Tukur Buratai led some troops to recapture the two towns from the insurgents.

Due to poor telecommunications networks in the area, details of casualties on the side of the security operatives and the terrorists were sketchy, but sources said, both sides suffered severe casualties during the ambush.

When contacted on phone, the Deputy Director, Army Public Relations of the 7 Division in Maiduguri, Colonel Tukur Gusau toldourCorrespondentthathewasbusy somewhere, but promised to get back to the reporter after obtaining all the information from troops in the affected communities of Dikwa and Ngala, even as he said, he has not heard of any explosion in Maiduguri at the time of going to press.

Macaulay, ran into operatives of Dragon patrol team 23 who were on routine patrol along Kwale/ Ogwashi-Uku Express road.

The suspects, who were fleeing in a Mercedez Benz V Boot car with number plate DW 357 PHC, Rivers, according to the sources who pleaded anonymity, made a u-turn in a suspicious manner which prompted the police patrol team to pursue them.

The sources added that the two

hoodlums fled into the bush, abandoning the car and their victim, adding that on searching the vehicle, the police found the aged woman, one locally made gun, three live cartridges and charms.

Confirming the incident, the State Police Public Relations Officer, DSP Celestina Kalu, said the vehicle was earlier snatched from one Christopher Obukowho by the fleeing hoodlums along

Ogume road in the local government area. Kalu said the rescued victim had rejoined her family, while efforts to track down the fleeing criminals had been intensified.

Thepoliceimagemakeralsodisclosed that operatives of Safer Highway patrol team007whileonpatrolalongOkpanam road,oppositePoliceStateHeadquarters, Asaba, sighted an unknown person vandalizinga whiteNissanMaximawith number plate KRD 698 CV.

not to entrust their young ones in the hands of undesirable and criminally-minded elements.

In another development, policemen attached to Onipanu Division of the Command have arrested one Ayodele Adedeji, from Jackross, Iyana Iyesi, Ota, for parading himself as a soldier in Nigerian Army oufit on Friday.

It was learned that during interrogation, Ayodele Adedeji, the suspect, confessed to being a fake soldier who had been in the dirty business of impersonation for long time. He stated further that his elder brother was in the Army and he died some years back before he picked up all his uniforms and accoutrements for use.

Items recovered from the suspect included two pairs of complete Nigerian Army uniforms, fake Army identity card, jungle booth, dummy gun, and accoutrements of the Nigerian Army.

8—Vanguard, MONDAY, SEPTEMBER 21, 2015

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BUJA—NO fewer than 53 people have died in 11 states, following flood disasters that displaced more than 100,420 persons this year.

Thousands of houses, farmlands and property worth billions of Naira were also lost to the flood disasters in many local government areas affected in the northern states.

The affected states are Kano, Katsina, Sokoto, Kebbi, Zamfara, Kaduna, Jigawa, Adamawa, Yobe, Gombe and Bauchi.

In Kano State, a director with the state Emergency Relief and Rehabilitation Agency, SERERA, Alhaji Sabi’u Mohammed, said 12 people lost their lives in the disasters.

He said: “The deceased lost their lives in six local government areas of the state between August and September as a result of the flooding.

“Six persons died in Shonono, two each in Dala and Tudun Wada and one each in Gabasawa and Takai Local Government areas.”

He added that more than 1,600 persons were displaced by the flood, while property worth millions of Naira was destroyed.

Mohammed explained that officials from the National Emergency Management Agency, NEMA had already visited some of affected areas and assessed the situation.

He said: “At our level, we have submitted a comprehensive report to the state government for possible assistance to the victims of the disaster.

“I am happy to inform you that the government had recently approved N15.8 million for the purchase and distribution of relief materials to victims of the flood disaster in Albasu Local Government area.”

11 dead in Sokoto, Zamfara

From Sokoto, Kebbi and Zamfara States, NEMA confirmed the death of 11 persons from the flooding.

Thickman Tanimu, Deputy Head, Sokoto Zonal Operations Office of NEMA, said 10 of the victims died in Zamfara, while a seven-year-old boy died at Kuchi village in Kebbe Local Government Area of Sokoto State.

Mr. Tanimu said that more than 86,710 hectares, valued at N1.58 billion, were destroyed in the three states.

According to him, 20,477 homes were also affected, rendering more than 46,200 people homeless. He said that the flood affected eight out of the 14 local government areas in Zamfara, which included Shinkafi, Talata Mafara, Gusau, Anka, Tsafe, Bungudu, Zurmi and Maradun.

The official explained that 8,540 houses and 6,450 hectares of farmland, valued at N260 million, were destroyed in the affected areas in the state.

Mr. Tanimu further said that 11, out of the 23 local governments in Sokoto State, were affected by the flood, while two communities in Wurno and Goronyo Local Government Areas were evacuated.

He said: “The other local government areas affected were Rabah, Kware, Binji, Kebbe, Gwadabawa, Wamakko, Bodinga, Sokoto North and C M Y K

WORKSHOP: Director-General, National Centre for Women Development, NCWD, Lady Onyeka Onwenu (left), and Dr Ibironke Okunlola of the Federal University of Technology, Akure, FUTA (RIGHT), at the graduation of participants in the train-the-trainers workshop on technology and entrepreneurship for women in Abuja, yesterday.

Floods kill 53, displace 100,420 people in 11 states Blocked drains, Bakalori, Goronyo dams blamed Punishment for environment sanitation crime too light—Katsina SEMA Katsina N156m IDPs camp 75% ready;govt yet to fulfill promises—BAUCHI victims Sokoto South.”

He added that, 24,750 people and 6, 922 houses were affected, with 42,800 hectares of farmlands, worth N750 million, either totally destroyed or badly affected.

10 councils in Kebbi

In Kebbi state, the NEMA official said that 10 out of the 21 local government areas were also affected by the disaster.

They were Argungu, Birnin Kebbi, Bunza, Kalgo, Dandi, Bagudo, Yauri, Danko Wasagu and Suru.

He disclosed that 21,450 people and 5,015 houses were affected, while 37,460 hectares of farmlands, worth N570 million, were also destroyed.

According to him, two communities in Birnin Kebbi, namely Wabbako-Fulani and Wabbako-Hausa, have been submerged by the flood.

He attributed the high level of losses to the release of water from Bakalori and Goronyo dams located in Zamfara and Sokoto states, respectively.

3 dead in Kaduna

In Kaduna State, the Executive Secretary, State Emergency Management Agency, SEMA, Ezekiel Baba, confirmed the death of three people in Kachia Local Government Area of the state.

Baba said three persons died in August following a flood disaster which also destroyed several houses and crops.

He said: “We have not had any major flood incident in Kaduna State this year. So far,

the only areas affected by flood were Kachia, Soba and Kajuru Local Government areas, which was largely due to negligence on the part of the affected communities.

“Many of the affected communities are in the habit of dumping waste in drains.”

Similarly, Acting Permanent Secretary, Ministry of Environment, Ahmed Salihu, said that the ministry had assigned contractors to consistently de-silt solid waste from drains.

He said: “We have also educated and enlightened all local government areas likely to be affected by the impending flood, based on NIMET’s prediction, to be prepared just in case the flood becomes a reality.”

Building regulations

However, NEMA’s NorthWest Zonal Coordinator, Musa Illalah, attributed the occurrences of flooding partly to disregard to building regulations by the people.

According to him, building houses on waterways predisposes communities to flooding.

Meanwhile, Mahmood Shehu, Director, Disaster Management, Kaduna SEMA, said that the state government had embarked on the enforcement of public health and environmental standard laws.

The Director equally said that adequate measures are being taken on risk assessment, planning, early warnings, information management and

communication to curb avoidable disasters.

3 dead in Katsina

In Katsina State, three persons died and more than 3,620 people were displaced by flood during the year.

Ibrahim Abdulkarim, Acting Executive Director, Katsina SEMA, said that flood disasters were recorded in 15 Local Government areas of the state.

He listed the councils affected as Baure, Bindawa, Charanchi, Daura, Dutsi and Dandume.

Others were Ingawa, Kusada, Katsina, Malumfashi, Matazu, Mai’adua, Musawa, Sandamu and Zango.

According to him, NEMA had also awarded contract for a permanent IDPs camp in Katsina metropolis at the cost of N156 million.

He said that the project, which was under the Presidential Committee on Flooding Disaster, Relief and Rehabilitation, has reached over 75 percent completion.

Mr. Abdulkarim also said that 10 solar-powered boreholes had been drilled in flood-prone areas, to avoid outbreak of diseases.

He further added that NEMA had distributed 11 trucks loaded with relief materials to the flood victims and that the agency was enlightening the populace against building on waterways and dumping refuse in the drains.

Abdulkarim further stated

that ecological committees had been constituted in all the 34 Local Government areas of the state to mobilize residents on safe sanitation and environmental habits to avert flood disaster.

“Some of the punishments contained in the laws are too light to the extent that the offenders will not feel the impact,” he added.

Four people were also reported killed in Jigawa flood, five in Adamawa and three in Gombe.

11 killed in Bauchi

In Bauchi, the Secretary, State Humanitarian Coordination Team, SHCT, Abubakar Umar, said no fewer than 11 persons lost their lives, with 11,708 houses and 104,147 farmlands destroyed by flood in 2015.

Umar said the value of the property destroyed was about N1.5 billion. He said that 88 communities and 105 villages in 18, out of the 20 local government areas of the state, were affected.

Mr. Umar said the state government spent N12.75 million in ameliorating the hardship of victims affected.

Abubakar Ibrahim, a farmer in Darazo town, said the flood that occurred in July, caused serious destruction of farmlands and animals. He said the state government had promised to assist the victims, but added that they were yet to receive anything.

Another victim, Danmmusa Ahmed, who lost his house and birds to the flood in Toro Local Government Area, said they were yet to receive any assistance.

He said: “The committee said government would assist, but nothing has come to me yet.”

Vanguard, MONDAY, SEPTEMBER 21, 2015—9

SWF, assets intact—NSIA Denies making presentation to Oshiomhole c'ttee

By Michael Eboh

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BUJA—THE Nigeria Sovereign Investment Authority, NSIA, managers of the Sovereign Wealth Fund, SWF, yesterday, insisted that all the assets it manages were intact, adding that it was never invited and had never made any presentations to the Adams Oshiomhole-led committee probing the Excess Crude Account.

Governor Adams Oshiomhole of Edo State had alleged that the administration of former President, Goodluck Jonathan, took $700 million of the $1 billion meant for the Sovereign Wealth Fund, SWF. The NSIA stated that all funds and assets managed by it are intact and fully accounted for as detailed in the Audited Financial Statement for the year ended 2014 published on March 28, 2015.

The authority's Communications Adviser, Titilope

Olubiyi, said in a statement in Abuja yesterday, that all the funds were profitably invested.

According to the NSIA, the funds have been invested profitably, realizing a Net Comprehensive Income of N15.8 billion in the year ended December 31, 2014, compared with N505 million recorded in the fifteen months ended December 31, 2013.

In addition to the Audited Annual Reports of 2013 and 2014, the NSIA further stated that it has made available its quarterly audited accounts until March 2015 on its website, adding that the accounts are audited quarterly and annually by PricewaterhouseCoopers, an international firm of auditors, using the International Financial Reporting Standard, IFRS. Olubiyi said: “NSIA’s funds have been invested profitably, realizing a net comprehensive income of N15.8 billion in the

year ended December 31, 2014, compared with N505 million recorded in the 15 months ended December 31, 2013.

“The seed capital of $1 billion provided in 2012 has been managed in three different ring-fenced funds: 20 percent in Stabilization Fund; 40 percent in Future Generation Fund and 40 percent in Nigeria Infrastructure Fund. The assets invested in each fund are detailed in the annual report.

“NSIA has never been invited by the ad hoc committee on the Management of Excess Crude Account proceeds and accruals of the National Economic Council, NEC, to make a submission on its operations in the first instance.

“Neither did it make any presentation or submission whatsoever to the committee” Furthermore, the NSIA, the spokesman said, “has made no

investment in the rail sector, even though it remains an area of interest” and that “its total commitment to the second Niger Bridge project, only $2.2 million, has been disbursed for project development related consultancy costs.

“In addition, N10.3 billion was disbursed on early construction works on behalf of the Ministry of Works.”

Out of the 15 sectors of interest for the Infrastructure Fund, the immediate areas of focus are motorways, power, agriculture, real estate and healthcare.

The Future Generations Fund invests in a diversified range of assets covering public and private equities, hedge funds and “other diversifiers” using the services of best-in-class investment managers and global fund custodians, while the Stabilization Fund targets the preservation of capital.

APC-USA: From left— Panelist, Chief Olumuyiwa Ogunleye; Chairman, All Progressives Congress, United States of America, APC-USA, Chief Tony Isama; guest lecturer and APC Deputy National Chairman North, Senator Lawal Shuaib; Women Leader, Mrs. Felicity Mbanefo, and panelist, Dr. Tunji Abayomi, at the APC-USA first National Convention Lecture at the Laguardia Plaza Hotel, New York, yesterday. PHOTO: Abayomi Adeshida.

Labour productivity rises in 2nd quarter

By Emeka Anaeto, Economy Editor

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AGOS—AMIDST declines in major economic indices, this year Nigeria’s labour productivity is on the up-beat as second quarter 2015 labour report shows that the average value of Nigerian workers’ output was N730.83 per worker per hour, a 9.1 percent rise against N669.57 recorded in first quarter.

Specifically, labour productivity refers to the quantity of labour input required to produce a unit of output.

A report entitled Labour Productivity in Nigeria (Q2 2015), released weekend by the National Bureau of Statistics, NBS, also shows that the rise in productivity was achieved despite a decline in total number of man-hours worked.

Man-hour input declined to 31.3 billion in the quarter from 31.5 billion in the preceding quarter.

The report, therefore, indicates that Nigerian workers produced more level of nominal output in second quater than first quarter 2015,

working 0.7 percent less hours.

With nominal Gross Domestic Product, GDP, rising year-on-year, Y-o-Y, by 5.17 percent (and real GDP of 2.35 percent) in the presence of a reduction in number of hours worked in the quarter by 0.7 percent, labour productivity growth by 9.1 percent would have indicated increased labour efficiency, but NBS was cautious.

The Bureau stated: “Given seasonality and its effects in Nigeria on output and labour hours, we are cautious not to

draw cause effect relationships and make other inferences from this rise in labour force productivity in second quarter until full year 2015.”

Among the key measures of the well being of an economy is the level and growth of economic output, commonly known as the GDP. However, economists and policy makers are also interested in the factors of production that are used in generating such output, as well as the level of efficiency associated with those inputs.

S'Arabia crane incident: 6 Nigerian pilgrims buried As each family gets N53.1m

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ECCA (SAUDI ARABIA)— NIGERIA’S ConsulGeneral to Saudi Arabia, Ahmed Umar, said yesterday that the six Nigerian pilgrims, who died in the September 11 crane incident in Mecca had been buried.

Briefing newsmen in Jeddah, he said the bodies were buried on September 18 in a “specially designated cemetery ” in Mecca, where all victims of the crash were also buried.

The Consul-General, who led a delegation of the consulate and National Hajj Commission of Nigeria, NAHCON, at the burial, said the bodies were buried after receiving invitation of the Saudi authorities.

He said the consulate and NAHCON officials were fully engaged in the burial arrangement that took place on Friday evening.

He also said that the six Nigerian pilgrims that sustained injuries during the incident had received special attention, with some of them discharged while others were still in the hospital.

He said consulate had also organized officials of the affected states in the event of pay-out of the money recently announced by Saudi Authority for the victims.

Saudi Authority had announced that it would give 1m Riyals (N53.1m) to the families of each of the deceased.

The authority announced that those who sustained permanent disability would get same amount, while others with minor injuries would get half of the amount.

The consul-general, however, said that the money would be given to relations of the deceased and other victims of the crash.

He said that Nigerian government was surprised with the kind gesture of King Salman bin Abdulazeez, who donated the money.

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10—Vanguard, MONDAY, SEPTEMBER 21, 2015

H. I. D. AWOLOWO'S PASSAGE

Lagos State Governor, Mr. Akinwunmi Ambode (standing) paying his tribute to the late Hannah Idowu Dideolu Awolowo while Oba Olaniwun Ajayi, SAN (2nd right), Osun State Governor, Ogbeni Rauf Aregbesola (right) and others listen at the Awolowos' Ikenne residence, Ogun State, yesterday.

I regret she did not witness a new Nigeria —Buhari

•The late Mama Awolowo

•Osinbajo, Jakande, Tinubu, Osoba, Babatope, others mourn •FG to participate in burial arrangement

By Daud Olatunji

A

B E O K U T A — P R E S I D E N T Muhammadu Buhari, said yesterday, that he regretted that the matriarch of the Awolowo dynasty, Chief (Mrs) HID Awolowo, did not live to witness the transformation and positive change the country would be experiencing soon.

Buhari said this through the Secretary to the Government of the Federation, SGF, Babachir David Lawal, who led the government’s delegation to the Ikenne residence of the Awolowos, to commiserate with them over the death of the Yeye Oodua. Other members of the delegation were the Chief of Staff to the President, Malam Abba Kyari, Chief of Defence Staff, General Abayomi Olonisakin and former SGF, Alhaji Baba Gana Kingibe.

He maintained that Mama did not “feel” the change where her son-in-law, Vice President Yemi Osinbajo and his wife, Dolapo who is her grand daughter were key players. The president said, “Our regret in government is that Mama did not live long enough

to feel the transformation this country will undergo with the active participation of her son-inlaw, with the active participation of her grand daughter. This is something that saddens us. Had she waited well for one or two more years, I’m sure she would have left this world a very happy woman indeed, because the fulfilment of what her husband stood for would have finally come to fruition.”

He promised the readiness of the FG to participate fully in her burial arrangements if the family is gracious enough to give him the opportunity to so do.

Sense of loss So, we ask our brother, our son, the vice president to relate this message to him. We are mourning at the moment, although we celebrate Mama at this time. For some of us, Mama knew us even when we were born. I don’t even know how to describe the sense of loss because Mama has always been there.

Whenever you thought about home, be rest assured that Mama will be there. Even when Papa

was not around, Mama was always there, always available, always around. I think that one of the great things that has been said is about her great love for people.'' Other visitors include the former Judge of the Hague, Prince Bola Ajibola, Chief Ayo Adebanjo, the Ajalorun of IjebuIfe, Oba Adesesan Oguntayo and the Bishop of the Diocese of Egba, The Right Reverend Oludaisi Adekunle.

Vice President, Yemi Osinbajo, who is a son-in-law to the deceased also spoke in the presence of hundreds of symphatisers who gathered in honour of the deceased at the Efunyela Hall, yesterday. While describing late HID as a repository of knowledge and a custodian of information, the vicepresident, who was there with his wife, Dolapo, who is a grand daughter of HID said that Mama was an important part of the sage, Chief Obafemi Awolowo.

He said,“She was always very caring, devoted and loving. We all know that she stood by papa so solidly that he had to describe her as the most important part of his life. He said repeatedly aside from describing her as her jewel of inestimable value that he would not know what he could have done without her but she survived him and lived so long thereafter.

“She lived for this nation, everyday of her life. She wanted to see a great nation and I know that she had begun to see that great nation, the evolution of this

nation in the past years has shown that we are on the right path and we would get there. I believe that her memory will be best served by the kind of nation we would want to see- a united nation; a nation where we don’t identify ourselves by our tribes and where we all know that we are all Nigerians, that is the kind of nation that she lived for.''

Others who also paid condolence visit to Awolowo family included an elder statesman, and first civilian governor of Lagos State, Alhaji Lateef Jakande, Afenifere chieftain, Chief Ebenezer Babatope. Also the All Progressives Congress leader, Asiwaju Bola Tinubu, former APC chairman, Chief Bisi Akande, and governor of Ondo State, Dr Olusegun Mimiko.

Chief (Mrs) Hannah Dideolu Awolowo died on Saturday at 3.15pm, in her Ikenne home.

Also known Yeye Oodua, who would have been 100 years on November 25, she was said to have attended a meeting of her forthcoming centenary birthday, before retiring into her room, where she breathed her last.

A statement signed by her eldest daughter, Mrs Omotola Oyediran, on behalf of the family,

She lived for this nation, everyday of her life. She wanted to see a great nation and I know that she had begun to see that great nation

said she died gloriously having spent the last day in the company of her children, grand children, great grand children and close family members.

While extolling the virtues of the matriarch, Alhaji Jakande, also known as ‘Baba kekere’ described the late HID as a virtuous woman with rare qualities, which qualified her to make her late husband refer to her as “a jewel of inestimable value.” He said she represented a woman who was so devoted to her husband, and stood by him and his political associates during their treasonable felony trials.

Jakande said, “she is an unforgettable woman, an example of good virtues who worked tirelessly for Yorubaland and Nigeria as a whole. She stood by us in the days of our political trials.” Babatope, on his own part, said he was in shock when he heard the news of her death. He equally noted that she was an understanding wife who stood by her husband, through thick and thin.

Good governance In the same vein, Governor Mimiko of Ondo State said that when viewed from the political angle, the Awolowo family represents default option in good governance, and HID stood as the second leg of that synergy.

National leader and former governor of Lagos State, Asiwaju Bola Tinubu, described her as the best gift to humanity, a nationalist and a great mother. He said, “she filled the vacuum left by the death of Papa. She was irrevocably committed to one Nigeria, education and the right of women.

We will continue to work to keep her memory alive.”

A former governor of Ogun State, Chief Olusegun Osoba, said he would miss Mama’s food, stressing that he ate best meals in Mama’s house. Other dignitaries who paid condolence visit to the family include Senators Jubril Martins-Kuye, Biyi Durojaiye, Iyiola Omisore, Adegbenga Kaka and Anthony Adefuye.

Vanguard, MONDAY, SEPTEMBER 21, 2015 — 11

CONDOLENCE VISIT S TTO O THE AAW WOL OWO FFAMIL AMIL VER THE DEA TH OF YEYE VISITS OLO AMILYY IN IKENNE, OGUN SSTTATE, O OVER DEATH OODU AO OR UBALAND, CHIEF HANN AH IDO WU DIDEOLU (H.I.D.) AAW WOL OWO, WHO DIED ON SSA ATURD AY. OODUA OFF YYOR ORUBALAND, HANNAH IDOWU OLO TURDA

Governor Rauf Aregbesola of Osun State (right); Lagos State Governor, Mr. Akinwumi Ambode (2nd right); National Leader, All Progressives Congress (APC), Senator Bola Tinubu (left); Governor Abiola Ajimobi of Oyo State (3rd left); Rev. Tola Oyediran, first daughter of the deceased (2nd left) and her husband, Professor Kayode Oyediran, yesterday.

From right; Ondo State Governor, Dr. Olusegun Mimiko; Vice President, Prof Yemi Osinbajo; his wife, Dolapo and Rev. Tola Oyediran, yesterday.

(LEFT): Former governor of Lagos State, Alhaji Lateef Jakande reading his message. He was flanked from left by; Dr. Tokunbo Awolowo-Dosunmu; former Governor of Ekiti State, Dr. Kayode Fayemi; former Interim N a t i o n a l Chairman, APC, Chief Bisi Akande; Asiwaju Bola Tinubu; Rev. Tola Oyediran, and Governor Abiola From left; Former Secretary to the Government of the Ajimobi.

Federation, Amb Babagana Kingibe; Governor Olusegun Mimiko and former governor of Ogun State, Aremo Olusegun Osoba.

From right; Governor Aregbesola; Chief Olaniwun Ajayi, SAN; Governor Ambode; Governor Ajimobi; Rev. Tola Oyediran; Senator Bola Tinubu; Chief Bisi Akande and Dr. Kayode Fayemi.

(RIGHT): From left; Governor Mimiko; Dr To k u n b o Aw o l o w o Dosumu; Secretary to t h e Government of the Federation, Babachir Lawal; wife of the Vice President, D o l a p o Osinbajo and the Vice President, Prof Yemi Governor Ambode signing the condolence register.

Osinbajo.

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Governor Aregbesola (3rd left); Senator Bola Tinubu (2nd right); Dr. Kayode Fayemi (left), National Publicity Secretary, All Progressives Congress (APC), Alhaji Lai Muhammed (2nd left), Dr. Tokunbo AwolowoDosumu (right), and others.

12—Vanguard, MONDAY, SEPTEMBER 21, 2015

Agip’s pipeline explosion: Victims' relatives allege neglect, insensitivity

By Samuel Oyadongha

Y

E N A G O A — REL ATIVES of victims of the pipeline explosion at Agip’s oil field at Azuzuama in Southern Ijaw Local Government Area of Bayelsa State, have alleged neglect and insensitivity of the oil firm.

Fourteen persons, among them a regulatory official of Bayelsa Ministry of Environment and National Oil Spills Detection and Response Agency (NOSDRA) lost their lives in the July 9, 2015 explosion.

Officials of Nigerian Agip Oil Company, NAOC, representatives of the host community and Bayelsa Ministry of Environment were investigating the cause of a recent oil spill in the area when the tragic incident occurred.

Mr Karibi MacDonald, spokesman of the bereaved families, said in Yenagoa, that Agip had neither shown remorse nor commiserated with the families of the victims.

His words: “It is very unfortunate that Agip is so insensitive to the needless death of 14 Nigerians due

to the poor safety records in its oil fields. There has been no contact with the families of the bereaved.

“The stance of Agip since this incident occurred has been regrettable. The management has not bothered to contact any of the families even during the burial of the victims. My brother was buried three weeks ago and we did not see any representative from Agip.

“It is very sad that a foreign company can be this arrogant

and be shying away from its liability and could not even commiserate with the bereaved families.

“We are calling on the Federal Government which is their joint venture partner to call the company to order to avert incurring the wrath of the dead. The total lack of remorse by Agip is unacceptable.

“So far, preliminary investigations show that no effort was made to prevent the explosion as inflammable

materials were not cleared from the site before repair work commenced, neither was the pipeline shut.

“What happened was preventable. Agip killed our brothers and the company is not sorry about what has happened.”

The Environmental Rights Action/Friends of the Earth Nigeria had last week demanded $28 million compensation for 14 victims, amounting to $2 million for each victim.

Vanguard's winning trio, Emmanuel Aziken (politics), 3rd left, Evelyn Usman (Crime), 4th left, and Kehinde Ajose (Entertainment), 2nd right, at the ninth Nigeria Media Nite out awards in Lagos, yesterday

Varsities urged to broaden Civil Engineering curriculum

By Daniel Gumm

W

ARRI—HEAD of Department of Architecture, University of Benin, Professor Nathaniel Aniekwu and Head, Training, Research and Strategic Planning, Bureau of Public Procurement, Engr. James Akanmu, have called for the broadening of Civil Engineering curriculum in tertiary institutions to achieve sustainable infrastructural development.

They want the broadening to include, among others, commercial as well as financial skills and networking with all stakeholders, including the political class.

The duo spoke, weekend, in Effurun, Delta State, during the first annual public lecture and seminar with the theme: The Civil Engineer and The Emerging Nigerian Economy,” organised by the Warri Chapter of Nigerian Institution of Civil Engineers, NICE.

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While noting that urban population was expected to jump by more than 1.3 billion over the next two decades in the developing world, Aniekwu challenged civil engineers to see the poor state of roads, epileptic power supply and collapsing structures in the country as opportunities to excel in their careers.

According to him, Julius Berger Plc came into Nigeria

with the support of German government and appealed to the Nigerian government to support the quest by domestic firms to take up bigger engineering jobs.

The National Chairman of NICE, Engr. Robbie James Owivry, in a message through Engr. Ahmed Mustapha, stressed that sister engineering institutions should be the engine room of Nigerian Society of Engineers,

NSE, even as he described NICE as a leading institution in the engineering profession.

Permanent Secretary and Chief Executive Officer, Delta State Hospitals Management Board, Dr. Caroline Ajuyah, and President, Project Management Institute, PMI, Nigeria Chapter, also spoke on how civil engineers could take their rightful place in the emerging Nigerian economy.

Defection: Oshiomhole lampoons Edo PDP over the PDP so that they can reloss of party leaders to APC

By Simon Ebegbulem

B

ENIN—GOVERNOR Adams Oshiomhole of Edo State, weekend, expressed pity for the leadership of Peoples Democratic Party, PDP, in the state, following the defection of former deputy governor of the state and leader of the party in South senatorial district, Chief Lucky Imasuen, and other party leaders to All Progressives Congress, APC. This came as Mr Johnson

Abulagba, a former Vice Chairman of PDP, in the state who, weekend defected to APC, with his supporters, said alleged manipulations and lack of internal democracy in the state PDP had made Edo a one party state.

“Today the only political elephant that was left in the PDP savannah forest has decided along with his brothers and sisters across Edo South, Edo North and Central, to formally renounce their membership of

align with the progressive forces under the APC platform,” Oshiomhole said while receiving Imasuen, Johnson Abulagba and over three thousand of their supporters into the APC. “I have had some informal conversation with the party leaders to reassure them that I am very excited of the opportunity of working hand in hand with our brothers and sisters who we know in their heart to be progressives," he added.

No tuition fees in Delta primary schools —Commissioner

By Festus Ahon

A

SABA—DELTA State Commissioner for Basic and Secondary Education, Mr Chiedu Ebie, weekend, insisted that the state government has not introduced payment of tuition fees in public primary and secondary schools for the 2015/16 academic session as being speculated.

Ebie, who made the clarification at a press conference to debunk the rumour making the rounds on the payment of fees, said Governor Ifeanyi Okowa’s administration was committed to the provision of quality and affordable education for all Deltans of school age.

Noting that the rumour was satanic, the commissioner said the state government was committed to steady recovery of the standard of education within the state, in line with the SMART agenda of the government.

He said: “Since we are not a government of quick fix or hit and miss, we will take our time to quickly understand the issues and problems by the acquisition of accurate and verifiable baseline data of all our primary and post primary educational assets."

FG, Carter Foundation, others tackle river blindness

By Gabriel Enogholase

B

ENIN—THE Federal Ministry of Health, in conjunction with the Carter, Yakubu Gowon and Emeka Offor Foundations, has commenced advocacy for the arrest of onchocerciasis, popularly known as river blindness and lymphatic filariarisis (elephantiasis), said to be on the increase in the country.

A Director in the Federal Ministry of Health, Dr. Bridget Okoeguale, who led members of the foundations to Edo State Ministries of Health and Local Government and Chieftaincy Affairs, weekend, raised the alarm that tropical diseases were on the rise in the country.

She disclosed that the advocacy was aimed at eliminating river blindness by 2020 and elephantiasis by 2025, adding that Nigeria would not want to be left behind on the deadline given

by World Health Organization, WHO.

Vanguard, MONDAY, SEPTEMBER 21, 2015—13

Okowa, Emerhor, Harriman mourn Olu of Warri's passage

By Emmanuel Aziken & Festus Ahon

A

SABA—DELTA State governor, Dr. Ifeanyi Okowa, former member of the House of Representatives, Temi Harriman and All Progressives Congress, APC, governorship candidate in the 2015 election in Delta State, Olorogun O'tega Emerhor, have condoled with the Itsekiri nation and the entire people of Delta State over the demise of HRM, the Olu of Warri, Ogiame Atuwatse II, whose death was announced Saturday.

The trio also congratulated Prince Abiloye Emiko for emerging as the Olu of Warri designate.

Okowa, in a statement by his Chief Press Secretary, CPS, Mr. Charles Aniagwu, described the late traditional ruler as an icon of international repute whose contributions to the development of humanity transcended ethnic barriers.

The governor, who noted that the late monarch's leadership as the chairman of the State Traditional Council was legendary, said his passage marked the glorious closure of a chapter in tradition and culture of the Itsekiri people.

He said: “The late Olu was a

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man of integrity whose death has left a monumental gap in Nigeria’s traditional institution.”

He noted that the late Olu would be missed not only by the people of Itsekiri nation, but also the entire Delta.

The governor also congratulated Prince Godfrey Emiko for emerging as the Olu of Warri designate. He expressed satisfaction with the peaceful selection of a successor to the Olu throne and commended the king makers and the people of Itsekiri for their maturity.

On his part, the APC governorship candidate, O'tega Emerhor, in a condolence message by his Director of Media and Political Communication, Dr. Fred Oghenesivbe, said the late Atuwatse was a forthright first class monarch who ruled his people and the entire Iwereland with the fear of God and divine wisdom.

Emerhor recalled his brief but exciting interaction with the late monarch when he visited his palace during consultations ahead of the April 11 elections, describing the occasion as one of the most inspiring moments

of his life.

He said: “Delta APC family is pained by the exit of our dear first class monarch, Ogiame Atuwatse lI, the Olu Of Warri.

The royal father was indeed a role model and a wise ruler who, without fear or favour, ruled his people with great wisdom and high sense of humour. Ogiame’s contribution to the development of Iwereland, Delta State and the nation will forever be in gold prints. ” Emerhor also applauded the confirmation of PrinceAbiloye Emiko as Olu designate, pointing out that with the choice and subsequent coronation of

the new monarch, Itsekiri nation would experience accelerated development as well as occupy greater positions of prominence in Nigeria and all over the world.

Similarly, Temi Harriman said the late Olu was a rallying father figure for all Itsekiri sons and daughters: “We have received the announcement of the passage of our departed royal father, His Royal Majesty, Atuwatse II. He was a rallying point for all sons and daughters of Warri Kingdom, Iwere, a custodian, counsellor and a channel of our traditional custom and culture.

My personal interactions with His Majesty were always memorable.

I always found him to be supportive and forthright. I recall with pride, our last meeting which was when the Presidential Campaign Council entourage of President Muhammadu Buhari, visited the Olu of Warri in the first week of our nationwide travels.

“I express my heartfelt condolences to all sons and daughters of Warri Kingdom as I pray that God would grant His Majesty eternal repose."

She also congratulated “the Olu designate, Godfrey Abiloye Emiko, wishing him God’s blessings and guidance.”

Tanker drivers dispel rumour of impending strike

By Gabriel Enogholase

B

E N I N — PETROLEUM Tanker Drivers, PTD, branch of Nigeria Union of Petroleum and natural Gas Workers, NUPENG, has alerted the federal government and security agencies of plans by politicians to use some undesirable elements to forcibly cause disruptions to the current regular and unhindered supply of

petroleum products across the country.

The petroleum tanker drivers also drew the attention of the Federal Government to alleged unlawful and corrupt behaviour and activities of some members of the National Civil Defence Corps, who it accused of constituting themselves into a nuisance along the highways under the guise of checking for illegal products from vandalized pipelines.

National chairman of Petroleum Tanker Drivers, Mr. Salimon Oladiti, who gave the alert after the union’s meeting in Benin City weekend, said: “We are aware of the intention of a faceless group to misinform our members and the general public of an impending illegal strike by Petroleum Tanker Drivers and to create security challenges in some strategic petroleum loading and storage points across the country. We wish to put all security agencies on alert over such moves.”

14 — Vanguard, MONDAY, SEPTEMBER 21, 2015

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Vanguard, MONDAY, SEPTEMBER 21, 2015—15

Okorocha gets approval to borrow N20bn

By Chidi Nkwopara

O

WERRI—IMO citizens may be grappling with a staggering debt of over N80 billion if Governor Rochas Okorocha goes ahead to take the Federal Government approved N20 billion proposed bond issue.

Currently, the state is owing over N60 billion, including the Federal Government’s N26 billion bailout fund, which is expected to be paid back in 20 years.

The recent move by Governor Okorocha to grab another N20 billion became manifest via a letter from the Federal Ministry of Finance, DMO/PMD/241//T/7, dated August 25, 2015, and signed by A. M. Daniel-Nwaobis, the Permanent Secretary, Ministry of Finance.

According to a document made available to Vanguard, the Permanent Secretary’s mail was sequel to Okorocha’s earlier letter, dated May 2, 2015, requesting for approval to issue on “an Irrevocable Standing Payment Order, ISPO, for an amount of N402,957,780.91 monthly for 84 months in respect of a N20 billion ISG (Imo State Government) Bond Issuance Programme” to Finance Uncompleted and New Projects.”

The Federal Government drew Okorocha’s attention to “the fact

that based on the fall in oil prices and the consequent decline of revenues for governments at all levels in the country, there is an urgent need to exercise greater restraint with respect to borrowing to avoid future debt unsustainability.”

While informing Governor Okorocha that the Debt Management Office had advised that his request could be granted, the Permanent Secretary granted

a “no objection” approval for the government to go ahead with the plan.

“Accordingly, I hereby grant a no objection for the state government to issue an ISPO for a monthly deduction of N402,957,780.91 for 84 months in respect of a N20 billion bond for the completion of on-going infrastructure development projects and for new development projects in the state, subject to the

state meeting other requirements of the Investment and Securities Act, 2007,” the Permanent Secretary stated.

Meanwhile, a very senior civil servant, who pleaded anonymity, told Vanguard that “the Okorocha administration’s commitment to pay approximately N403 million monthly and for seven years, means that the payment would outlive the present administration.”

INVESTITURE: From left, Rt. Rev. Justus Mogekwu, Bishop of Asaba Diocese, Anglican Communion; his wife, Theresa; Dame Nkem Okwuofu, Sir Byron Unini and wife, Lady Felicia Unini, during the investiture of the knighthood of Saint Christopher and Dame by the Bishop, at St. Peter’s Anglican Cathedral, Asaba, weekend. Photo: Henry Unini

16TH ANNIVERSARY: MASSOB accuses Uwazurike of

sabotage ...vows to probe him

By Vincent Ujumadu

A

WKA—THE disaffection among members of the Movement for the Actualization of the Sovereign State of Biafra, MASSOB, has taken a new dimension with a faction that emerged from the group accusing its leader, Chief Ralph Uwazurike of sabotaging the activities of MASSOB. The accusation was a fall-out of ugly incidents that took place during last week’s celebration of the 16th anniversary of MASSOB in which several members of the group were arrested by security operatives while attending church services to mark the event in various towns in the South East.

MASSOB Director of Information, Mr. Uchenna Madu said, weekend, that having endured so much, the group would soon expose what it described as the insensitivity of Ralph Uwazuruike’s leadership of his MASSOB faction.

Madu said: “We sympathize with the brainwashed and hypnotized members of Uwazuruike’s faction who died and those detained during the celebration of 16th anniversary of MASSOB, while their leader, Ralph Uwazuruike was dining with his friends.

“After the police invasion of

Uwazuruike’s residence opposite Ojukwu Memorial Library at Okwe, Imo State, and arrested some MASSOB security men, Uwazuruike went to Umuahia on a special visit to the Assistant Inspector General of Police in charge of Zone 9 where he assured the police that his MASSOB does not aim to break Nigeria, or cause trouble and violence against the Buhari administration.

“To further convince the AIG, Uwazuruike informed him that he signed a Memorandum of Understanding, MoU, in September 2013 with Al Mustapha, Alhaji Asari Dokubo, Dr. Fredrick Fasehun and Alhaji Yerima Sani to refrain from any activities that will affect the oneness of Nigeria.”

According to him, it was after his assurance to the police that

MASSOB would not hold the anniversary, that Uwazuruike was released.

Madu said further that Uwazurike later fled to Lagos without telling his members to call off the anniversary, adding that it was this insensitivity towards the lives of the members that resulted in the deaths and detention of some MASSOB members.

He spoke further: “If Ralph Uwazuruike is a selfless leader who has the interest of his members at heart and who still believes in MASSOB programmes and possibility of Biafra actualization, which church did he attend for the thanksgiving? Why was it that he did not attend any church in Igboland to celebrate the 16th anniversary of MASSOB struggle to actualize Biafra?”

He said that though MASSOB had existed for 16 years, it had not achieved anything tangible adding, “rather what we have been seeing were avoidable and unnecessary deaths and detention of our comrades, who still believe in Uwazuruike’s Biafra.”

Vowing that MASSOB would soon start probing Uwazurike, Madu regretted that many members of the group, who were victims of the struggle, were still either in mortuaries, or detained in police cells and Nigerians prisons, with their leader (Uwazurike) caring less.

Meanwhile,48 members of the group arrested during last Sunday's celebration of 16th anniversary of the existence of MASSOB had been granted bail by an Umuahia court.

NAPPMED vows to fish out fake drug dealers

By Chimaobi Nwaiwu

T

HE NIGERIAN Association of Patient and Proprietary Medicine Dealers, NAPPMED, Anambra State Branch, has promised to partner with the National Agency for Food and Drug Administration and Control, NAFDAC, in the war against fake and adulterated drugs.

President general of NAPPMED, Amechi Macpaul

Ozobia disclosed this while inaugurating the 3-3 / Trans Nkisi unit of NAPPMED, where he also expressed satisfaction that members have become aware of the implication and gravity of the offence of dealing in fake/ adulterated and substandard drugs.

He urged the newly inaugurated members to be of good behaviour and avoid the antics of the opposition who have

been dragging the association's name through the mud.

“We are the authentic group recognized by the Anambra State government. Members have to ensure they obtain all the necessary requirement and make necessary payments for licence to sell their drugs. It is no more business as usual. The association will not tolerate indiscipline and flouting of government directives under any guise."

Idika Kalu not our member —Abia APC

By Ugochukwu Alaribe

A

BA—THE All Progressives Congress, APC, Abia State chapter, has refuted reports that former Minister of Finance and National Planning, Dr. Kalu Idika Kalu, is a member of the party in the state.

In a chat with journalists in Aba, Chairman of the APC in the state, Hon. Donatus Nwankpa, who was reacting to a recent report in a national daily (not Vanguard), which claimed that the former minister has been a member of the APC before the commencement of the 2015 party primaries in the state, said the report is untrue.

According to him, “One of our officials in Ohafia LGA in an interview said that Dr. Kalu Idika Kalu joined the APC in Abia State before primaries.

"The question is: Could somebody of that stature have joined this party without the state knowing or without it being a media hype? Can somebody of that stature jump into the party from the backdoor?

Dr. Kalu Idika Kalu is a national figure and cannot join the party from behind.

"It means that we are trying to undermine him or even question his integrity as a person. If such a thing ever happened, is it possible that he joined the party from the back door without the APC state executive and stakeholders knowing?

"How did he join the APC and didn’t identify with the party in the state during the electioneering? If he has been a member of the APC, he would have been a national delegate from Abia state,” the Chairman said.

He vowed to set up a committee to unravel issues behind the alleged membership of the party by the former Minister, insisting there were laid down processes to become a member of a political party.

“You have to be wary of people who go about blackmailing the image of this genuine and recognized group which I lead; Governor Willie Obiano knows we exist, rapid diagnostic kit should be given to us free to enable us detect diseases, illiterate members are being trained, do not fear if you sell drug genuine because Nigerians know we exist,” he said.

16 — Vanguard, MONDAY, SEPTEMBER 21, 2015 THE appointment of the former Chairman, Lagos State Internal Revenue Board (LIRS), Mr. Babatunde Fowler as the Chair man, Federal Inland Revenue Service (FIRS) did not come to many Nigerians as a surprise. Fowler had raised the internal revenue of Lagos to an enviable position such that an impressed President Muhammadu Buhari was quoted after his electoral victory as saying he would attempt to replicate the Lagos internal revenue generation model at the federal level.

In as much as Fowler succeeded in Lagos, he must be aware that he is in a different terrain that will task his expertise in no small way.

While in Lagos, Fowler could tax property, get companies to remit their pay-as-you-earn obligations, employ

What Fowler must do as FIRS boss consultants to collect land use charges and so on. It is not the same with FIRS. The FIRS has jurisdiction in personal income tax only in Abuja. Its main tax focus is corporate tax.

The new FIRS boss has an uphill task to track down the companies that are not paying tax at the moment and those not paying enough. He must be aware that there exists in the nation’s corporate registry a total of 450,000, out of which only 150,000 are known to pay any form of taxes. Fowler ’s job is to help discover the other 300,000 companies that are not remitting

any form of taxes at the moment and get them to pay.

He should also take keen interest in studying the Thabo Mbeki report on illicit financial flow out of Africa in which it is disclosed that several multinational companies operating in the continent indulge in one form of tax evasion or the other. The continent of Africa in which Nigeria is the largest economy, loses over $50 billion each year as a result of the illicit flow of funds. Nigeria loses large amounts of revenue owed to it due to the unlawful outflow of significant capital needed for

development.

The FIRS should take a closer look at the taxes, royalties, concessions and waivers granted in the past to these multinational companies with a view to making them pay the appropriate amounts due to the federation. We also urge the tax authorities to go after companies that do businesses in Nigeria and pay their taxes outside our shores.

These are mainly companies that are registered in tax havens with the sole aim of evading tax.

It should also examine the various loopholes in the nation’s tax laws that are being exploited by these companies and block them.

This we believe will increase the revenue profile of the government in the short term, even more than the proposed increase in value added tax.

OPINION The Anambra PDP comedy

By Azuka Ogbonna

C

HANGE is everywhere now. President Goodluck Ebele Jonathan, GEJ, has changed to President Muhammadu Buhari, PMB. The massive umbrella has been replaced with a common broom. The umbrella has been put away in the store where things of no immediate need are kept. But, the broom is everywhere sweeping, and even dirt swept under the carpet is being swept into the open. In the words of Chief Zebrudaya, the sweeping is now very “opendential”.

The broom has only swept Nigeria for 100 days, though there is still much to be swept out, the zeal and determination of the sweeper ignites confidence that the country can be clean again.

People are perplexed about how the umbrella people swept so much dirt under the carpet.

Was this why the Umbrella People wanted to remain in power forever; to keep its heap of rubbish away from public view?

Thank heavens for change. The project to rule forever was suddenly truncated after only 16 years. Then entered change, from the Umbrella to the broom. Nigerians are now wondering how we could have survived those 16 years with so much rubbish under our carpets.

The rubbish is huge, embarrassing and so recklessly accumulated with impunity that the nation’s face of change, The Sweeper, has invited key owners of the Umbrella to find out why so much dirt accumulated everywhere.

Strangely, the Umbrella owners are crying out, that The Sweeper is giving the dog a bad name to hang it. That he intends to poison them with C M Y K

the toxic emissions from the heaps of rubbish.

They also accuse the sweeper of hunting them down like a witch and that the mails they have been receiving from him are black.

Sadly, no one believes them. People think they are mimicking Ali Baba, AY, Basket Mouth and their fellow tradesmen. Everyone knows that The Sweeper is not a killer and neither a “witchhunter” nor a blackmailer. So, after 16 years of running Nigeria, who do they expect to supply the answers? This comedy is not for nothing. It is a rehearsed strategy to distract attention, cause confusion and hide 16 years of waste.

In Anambra, it is worse. By 2003, the Umbrella in the state had been torn to shreds and the attempt to patch it up collapsed in 2006, when its No 1 man was chased out of the Government House by the Supreme Court. Since then, the umbrella could not be repaired. Its owners had resorted to stealing other people’s umbrellas and re-painting them. Even this strategy is not working. The Courts and Tribunals have caught them and returned stolen umbrellas to their rightful owners.

Neither The Peoples Democratic Party in the state nor its umbrella has any form or occupies any identifiable space. The umbrella has since been shredded and different people with the different shreds have laid claim to be the

PDP concentrate on efforts at piecing the shredded parts of its umbrella together again

authentic Party. Can there sincerely be a PDP without an umbrella? A party with five different Excos and working at crossroads cannot really be a party. It has become a band of jesters, entertaining people with continuous episodes of comedy.

In 2014, it premiered a comedy entitled “The Audacity of Mediocrity” (apologies) in which it presented a West African School Certificate holder as its governorship candidate to contest against Dr. Willie Obiano, who has multiple university degrees and certificates. PDP lost the election before it started because it was a nocontest. It would amount to an eternal desecration of the memories of dead and living legends like Dr. Nnamdi Azikiwe, Dr. Chuba Okadigbo, Dr. Alex Ekwueme, Dr. Chukwuebuka Ezeife and Dr. Chinwoke Mbadinuju for a school certificate holder to become governor of the state.

As if enough that wasn’t enough; the Party in 2015 released, “The Show of Shame,” another comedy in which another school certificate holder, masquerading as a Ph. D holder, ran again for Nigeria’s highest law-making body, the Senate. This is after the same zone had been represented by a medical doctor, a lawyer and a political scientist, all of them Ph. D holders.

Just last month, the party released another shocker that has so soon been inducted into the hall of infamy. In this new series, a factional chairman of the party wrote an open letter to the Anambra State Governor, Chief Willie Obiano, demanding financial accounting of state funds and details of how much would be spent on state projects. Is this bravado or comedy? Obiano’s government is accountable to the people and not to an opposition party.

The open letter was at best a comic relief, the kind the governor actually needs to unwind after a hard day’s job.

Just last week, a sequel to that film, was released.

In this, the same factional chairman alleged a threat to his life by agents of the Anambra State government and the ruling All Progressives Grand Alliance (APGA). The reason he gave for this threat was the open letter he wrote to the governor. This is quite hilarious. So, Obiano became governor in order to direct the execution of deluded persons who write letters that are full of sound and fury, but signifying nothing? Is that how cheap life is to the Umbrella people?

This is evidence of deep frustration and lack of purpose and direction. I am aware that the Inspector-General of Police has ordered the withdrawal of policemen attached to persons like the factional chairman and this false alarm is a mere gimmick to hoodwink the Commissioner of Police in the state to continue to attach policemen to him. The COP must see through this smokescreen.

PDP in the state should stop these comedies and concentrate on efforts at piecing the shredded parts of its umbrella together again . *Mr. Ogbonna, a political analyst, wrote from Awka, Anambra State.

CORRECTION In an article published last Friday on this page titled "Time to kill the Maritime Varsity", a former director general of NIMASA was erroneously referred to as Andrew Akpobolokemi instead of Patrick Akpobolokemi.

We sincerely regret the mix-up.

---Editor

SEPTEMBER 21, 2015

Debts: Contractors appeal to FG, states to pay C

ontractors in the nation’s construction industry have appealed to federal and state governments to pay debts owed the firms to enable them to return to project sites across the country. Acting under the auspices of Federation of Construction Industry (FOCI), the contractors claimed that in the last two years alone, debt owed them by various governments was N600 billion.

President of the group, Mr Solomon Ogunbusola, told news men in Abuja that delay in payment of the debt had grounded operations of most of the companies. According to him, many of DIGITAL CLASSROOM: Chairman, E-learning committee, Dr Adewale Ogunde; MD, Beecit Solutions, Mrs. Bukola the companies have closed shops while Femi Ajala; Vice Chancellor, Redeemer's University, Professor Debo Adeyewa; Director, Enterprise Business, Samsung Electronics West Africa, Mr. Charles Ojei and Head, Enterprise Display Solutions, Samsung Electronics West Africa, thousands of workers have been retrenched. Ogunbusola said that no Mr. Anu-Rotimi Agboola at the classroom digitization launch in Redeemer's University, Ede, Osun state recently. fewer than 8, 000 workers in the industry were laid off in the last six months. He admitted that the governments in the country were currently facing challenges, saying “we appreciate efforts towards paying salaries of civil servants”.

“This is a step in the right direction, but we appeal that government should look into our problem soon as they conclude intervention in the civil service,” he said.

He assured that the group would frican Development Bank energy in sub-Saharan Africa.” introduction will lead to a President Akinwumi Adesina served as Nigeria’s minister transformation of the electricity sector,” Continues on page 18 Adesina, who took over this of agriculture and rural development said Angeli Hoekstra, Africa power and month, said he’s aiming to eliminate before being chosen to lead the Continues on page 19 Africa’s energy deficit by 2025 by development bank. The deal is the first mobilising $55 billion of investment. initiative he has announced in his new Termed the “New Deal for Energy in role. The bank spent $2 billion on 19 states benefit from workers salary bail-out facility Africa,” the continent’s largest energy projects in 2014, with $650 development bank said the plan will million in power generation. Over 80 accessed N20 billion, spokesman n line with the decision of the significantly raise its support for percent of the generation projects were confirmed that the actual amount is National Economic Council (NEC), energy projects and that its partners renewable energy.

N18.9 billion. a total of 19 out of the 27 states affected should also scale up efforts.

On the tenor of the bail-out facility, he About 620 million people in sub- have so far benefitted from the workers’ said that all the states are having 20 year The proposal also called for African Saharan Africa do not have access to salary bail-out package which is to tenor except Ogun which opted for a 10 countries to increase financing for the electricity, according to data from the enable the affected states pay the year tenor. development of the energy industry. International Energy Agency. Demand backlog of workers’ salary arrears. This Earlier, states like Kwara, Zamfara, was disclosed by the Central Bank of “A lot of financing is needed,” Adesina for energy is soaring, with a 45 percent Nigeria’s spokesman, Mallam Ibrahim Osun, Niger, Bauchi, Gombe, Abia, said in a speech in Abidjan, the jump between 2000 and 2012, Mu’azu in a telephone chat over the Adamawa, Ondo, and Kebbi had commercial capital of Ivory Coast, according to the IEA. weekend in Abuja. He said that applied for and received various where the bank is based. “We must “Renewables will have a very big role contrary to reports that Ogun state has sums from the bail-out facility. close the $55 billion financing gap for to play in Africa, I think the

AfDB plans $55bn fund to boost energy in Africa A

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18 — Vanguard, MONDAY, SEPTEMBER 21, 2015

Cover

Vocation and Technical Education – A Key to improving Nigeria’s development (5)

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TROPHY: Lagos Marina Captain, Muyiwa Sonubi (right) receives the Dantata Cup from the Special Guest of Honour, Emir of Kano, HRH Muhammadu Sanusi, during the presentation ceremony of the first stage of the MTN/Kano’2015 international polo tournament in Kano.

S-Africa aims to double wine exports to Nigeria S

outh African wine producers are trying to cater for Angolans’ thirst for sparkling wine and Nigerians'' demand for bottles of red to penetrate the African market, according to the country ’s leading trade body for the industry.

Wine producers aim to more than double annual sales growth to five per cent in Nigeria, boosting profits from Africa’s largest economy, Matome Mbatha, of Wines of South Africa, or WOSA, said in an interview in Cape Town weekend. Exports of mostly red wine to Nigeria have risen to 4.5 million liters (1.19 million gallons) a year, while Angola buys 6 million liters, of which 5 million liters are bubbly wine, mainly shipments of J.C. Le Roux, a low-cost sparkling wine that in South Africa can retail for less than $4 a bottle, Mbatha said.

“They are crazy about J.C. Le Roux” in Angola, “it is the biggest mover in the market,” Mbatha said. “In Nigeria, they really like to consume red wine there, as much as it’s hot, they love your Pinotage, your Merlot.” Exporters also aim to increase sales in Uganda, Kenya and Ghana, which along with Angola and Nigeria, are either preparing to produce oil or already do.

Another key growth market is China, the world’s mostpopulous nation, where exports increased by more than 30 percent last year, said Mbatha.

White Bottles To boost sales in the U.S., where South African wines command just 1 percent of the market, the industry group is trying to get more retailers to put white-grape Chenin Blanc C M Y K

on their shelves, said Jim Clarke, a U.S.-based official with WOSA, in an interview in Cape Town.

“Our red blends are the ones doing well in the U.S., that is

In Nigeria, they really like to consume red wine there, as much as it’s hot, they love your Pinotage, your Merlot

something that South Africa has always done very well and made a priority in making wines,” Clarke said. “We show them the Chenin blanc because it is that middle ground for the more white-wine lovers in the U.S.” South Africa is the world’s seventh-biggest producer of wine by volume, representing 4 percent of global output last year. The country grows white wine grapes, including Chenin Blanc, Chardonnay and Sauvignon Blanc, and its red varieties include Merlot, Cabernet Sauvignon and Pinotage, which was created in South Africa. The country’s almost 100,000 hectares (247,100 acres) of vineyards are mostly concentrated in the Western Cape and the industry employs 300,000 people.

Wine exports declined to 422.7 million liters last year from 525.6 million liters in 2013, according to WOSA’s website.

Debts: Contractors appeal to FG, states to pay Continues from page 17 resist confrontation with government at any level ‘’because we remain partners in progress.”

Ogunbusola said that the association recognised the downturn in the nation’s economy and commended the government for its determination in addressing the situation.

“We will not fight the government or go to the streets with placards, because we remain partners in progress for the development of the country.

“We appreciate the fact that

government is grappling with dwindling resources due to shortfall in oil proceeds. So, nobody is expecting the government to pay all the debt at once but we expect some payment to help us offset our liabilities and be able to return to project sites. There is no way a responsible government can overlook the welfare of civil servants and deploy available funds to pay construction companies,” he said. He pledged that the construction sub-sector would continue to partner the government in efforts to develop and maintain infrastructure.

he focus is on the roles of technology and vocational education in enhancing entrepreneurial skills that will equip students for entrepreneurship education in Information and Communication Technology (ICT.) driven technological environment. The world has become globalized and the future prosperity depends on comparative advantage.

This comparative advantage hinges on people and their technical or technological sophistication. Towards this, some crucial entrepreneurial and technical skills needed by the students in colleges of education (technical), polytechnics and universities to meet the trends in a global economy is analyzed.

Technology education is to be considered as the key agent of technology development, either as a way of developing human capacity, increasing the shield work force for modernization, industrialization, environmental development or as a matter of personnel freedom, developing capability and empowerment. Technology education is increasingly recognized to be central to both the origins of technological development and challenges and to the prospects for successfully dealing with them (Alam, 2009). Decision makers at all levels, need timely, reliable access to knowledge generated by technology and technical education to introduce rational policies that reflect a better global understanding of complex technical, economic, social, cultural and article issues concerning the society, and our environment. Technical decision making and priority setting is an integral part of overall development planning and formation of technology development strategies. Above all, technology education is a human right and, as such, should receive priority in the allocation of national resources. It has become very necessary not to only keep technology education bound to the role of manufacturing skilled manpower but also to economic development and global economy. In Nigeria, technology education was previously not seen as fundamental for national development, or for the economic development, but for the school dropouts, and other social and political development within the nation and for individuals. Hallak (1990) argues that technology education is also linked to human resources development and that this has an impact on more than just economic growth, but also an impact on the wider development of individuals and societies. According to him, it contributes to: (a). Individual creativity, improved participation in the economic, social and cultural roles in society. (b). Improved understanding of an individual and heir respect for others, thus promoting social cohesion and material understanding (c) Improvement in health and nutrition. (d). Improved chances of economic development. (e). Improved technological development. (f). Socio-cultural change. (g). Democracy and equality (h). Ecological development/quality of life (increasing people’s awareness of their environments).

From our analysis so far, it is clear that modernization and economic development, depends on investment and appreciation of modern trends in technology education.

According to Woodhall (1997) investment in technological education and training produces benefits for the individual and for society as whole.

The roles of technical and vocational education in enhancing entrepreneurial skills using information and communication technology is very important in training for self-employment, self-reliance and skills acquisition now that government cannot employ every graduate. This could be achieved through the development of entrepreneurial skills in technology and vocational education through information and communication technology.

Technology and vocational education programme of our tertiary institutions should be directed to focus on enhancing the training for entrepreneurship in ICT so as to be functional in today’s world of work and the global economy. In this period of mass unemployment and global economic fortunes, only the best can survive by being self-employed. The tertiary institutions where technology and vocational education programme is offered should encourage and enhance entrepreneurial skills of students through constant review of the curriculum to reflect the technological changes and emerging technology in today ’s ICT driven technical environment. Technical educators should involve technological, technical, and business organization, government, NGOs and even successful industrialists in their service delivery to the students.

Vanguard, MONDAY, SEPTEMBER 21, 2015 — 19

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igeria is a country of ironies. Issues are not treated on merit. Every leader follows his fancy and Nigerians just tag along. There is no clear cut national policy or direction. Today, it is President Muhammed Buhari’s fancy that Nigerians are just kicking one another for. Buhari's body and vocal language is war on corruption. As it now seems the APC and the President are making it look like everything about Nigeria is corruption.

Yes, there is corruption in the land. Yes, Nigeria needs to get rid of corruption. Yes, there is need to recover every kobo from treasury looters.

President Buhari as a retired military General knows that war are not won by rhetorics.

When all the monies are recovered and kept in the CBN, it becomes a mere stock the political culture of Nigeria. they have stolen.

The committee on recovery of resources. What then The wound is deep and happens after is the hurting, yet, those in of stolen funds should fundamental question that government and public offices actually encourage treasury Buhari and his handlers have then, their associates and looters to come forward on not addressed. The war on collaborators are walking the their own to surrender their corruption can be fought and streets and the government loots. In this case, such men won without the present noise that is talking tough about that will voluntarily come being made about it. His corruption is not in any way forward should be given opportunity to explain harping on corruption as if it willing to visit the matter.

In the international themselves and recover what is the only problem in the country at every opportunity, community, this is one case of they stole. They should be quietly asked to is in fact de-marketing the corruption that one of two nation, the economy and more serious Mr. President take options - not to Nigerians. The President can g o v e r n m e n t s come close to any fight the war on corruption by have punished must rethink public office, talking less and empowering those involved the entire contract or deal the various institutions both at corporate strategy of this with government charged with this and individual No war and bring for 10 years or go responsibility to do their work. levels. into self exile for The President is making the government and to book the same world see that there is nothing i n s t i t u t i o n whoever has period. This will in the country except corrupt outside Nigeria ever stolen one save the nation people. It is not every that is aware of the trouble of Nigerian that is corrupt. this issue will kobo from going to court Nigeria certainly has good take the current Nigeria's about treasury; no and the people. The problem is that talk litigation corruption assumed a larger- f i g h t i n g sacred cows, all expenses that than-life status in the life of corruption in some administrations years N i g e r i a Nigerians must will follow. The case of ago. These men and women seriously. be treated Mr. President c o r r u p t i o n are those that will be spared equally could drag for the agony of the pending must rethink the years, and in any probe. This President must be entire strategy of courageous enough to ask the this war and bring to book case, may be very difficult to EFCC to look at every level of whoever has ever stolen one prove.

The President must know for administration and life of key kobo from Nigeria's treasury. functionaries of government No sacred cows. All Nigerians sure that curing Nigeria of corruption is not going to end and wherever and whom so must be treated equally.

Besides, the President the economic predicament ever they found to be corrupt should talk less and allow the nation is currently faced should be called to question.

Clear cases that have become those he appointed to do their with. It is no secret that a lot a scar in the nation's body job by identifying cases of of damage has been done to politic should be visited and corruption and bringing them the nation’s economy by dealt with openly if this to justice. It is time for action. these corrupt men. But government is serious about The noise has become boring. recovering all the looted fighting corruption. Every In this war on corruption, it funds from them will not Nigerian knows for instance would pay the nation more to automatically fix the nation.

The money recovered will be that the Halliburton bribe make room for those who can scandal left an open wound in and are willing to come on a stock that can be used up in their own to surrender what no time. By the time it is

Buhari talking tough on corruption; motion, no movement appropriated if recovered in two or three appropriation bills, it would have gone without any one knowing.

What this government should be more concerned with is how to grow the economy in such a way that there will be continued flow of resources into government coffers that will boost expenditure and improve the general welfare Nigerians.

Buhari must rally Nigerians around him to rebuild the economy. He must use the nation’s population to create markets for what Nigeria produces. Nigeria must grow local, buy local and eat local.

The President should today direct all Ministries, Departments and Agencies, MDAs to serve local foods, especially local rice and cassava bread and other foods at all official functions of government.

Tuwo shinkafa should be served in the State House.

The President must be aware that out of the 160 million Nigerians alive today, official figures put 112 million as poor. It is the purchasing power in the hands of the individual, the disposable income that constitutes a market. A large proportion of the adult and youth population are unemployed, this is why growing the local market is key to growing the economy. Rice and cassava farming in Nigeria today is constrained by access to finance and the smallholding nature of the farmers as well as the traditional technology applied to farming. Besides, the land tenure system and its

Business & Economy Continues from page 17 utilities leader at PricewaterhouseCoopers LLP, in a phone interview. “There is a lot more investment taking place in this space.”

Adesina called for the development of major regional energy projects such as the Inga hydropower dam in the Democratic Republic of Congo. The development bank has recently invested $70 million in the Inga 3 unit, a stage of the project, with

availability make commercial farming a mirage.

The expectation is that the current government must identify out-of-the-box innovative technology options that would add significant value to smallholder farmers in agriculture by reducing inefficiencies in the value chains, especially the harvest and post-harvest value chain elements. The roadmap to transforming the economy is massive investment, local or foreign.

Globally, investors are interested in places where their return on investments is high. Nigeria certainly qualifies as investors have found out that they reap higher benefits if they invest in Nigeria. The few that have done so, despite the challenges of infrastructure, have found this to be true. Yet, Nigeria is not a haven to foreign investors. Many investors out there who speak privately to Nigerians at investment fora are quick to point out that in Nigeria, there is no sanctity of contract and property rights are not clearly defined.

They are not worried about the lack of infrastructure as is always claimed by those who explain away the Nigeria situation. Shell, Mobil, Chevron, MTN, UACN and others know too well the infrastructural deficiency in the country, yet they invested and are reaping the benefits.

These are pertinent challenges that the President should settle down and address his mind on how to solve them rather than chasing shadows.

AfDB plans $55bn fund to boost energy in Africa construction expected to begin in 2017, according to Alex Rusamba, director of the bank’s department of energy, environment and climate change.

The hydropower project will have the potential to generate 40 gigawatts of electricity when complete.

Wind Farm The development bank is

also supporting a large-scale wind farm at Lake Turkana in Kenya, which should start operating in about two years and have a capacity of 300 megawatts, Rusamba said in a phone inter view. The private sector can play a key role in the development of Africa’s energy sector if provided with an enabling environment, said Tony

Elumelu, the co-chair of the African Energy Leaders Group, at the meeting in Abidjan.

“Initially the cost was the biggest challenge to building renewables in Africa, but this is no longer the case as the prices have fallen,” said Rusamba. “We are working with governments to create frameworks to encourage

private investment in clean energy.”

The governments of Ivory Coast and Democratic Republic of Congo have already pledged to support the deal and help mobilize efforts to work toward ending the continent’s energy deficit in the next decade.

20 — Vanguard, MONDAY, SEPTEMBER 21, 2015

Business & Economy

Nigerian bonds remain strong —DMO …to focus more on domestic investors

BY EMMA UJAH, ABUJA BUREAU CHIEF

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he Debt Management Office, DMO, has said that the Federal Government of Nigeria bonds remained strong, in spite of JP Morgan’s decision to delist the Bonds from its Emerging

Invest France holds in Lagos

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nternational event, “Invest in France” presentations will take place this year in 50 countries in the world and for the first time Nigeria has been chosen to host this event on September 21st 2015 in Lagos, Eko Hotel, Organized by the Embassy of France in Nigeria, this event will be the occasion to present the French market, the recent reforms and measures to better receive foreign investors, and business opportunities for Nigerian investors in France.

World’s sixth largest economy, France is one of the leading destinations for foreign investment, ranked 8th globally in 2014 for FDI stocks received on its soil. There are many reasons for companies to establish themselves in France: a qualified workforce, an attractive tax system, support for innovation and research…

A springboard to the rest of Europe, with low setup costs, France is home to more than 20 000 foreign companies employing a total of more than 2 million people.

His Excellency Denys Gauer, Ambassador of France to Nigeria and Mr. Dominique Simon, Head of the Regional Economic Department, will present these different opportunities to very few Nigerian companies, selected for their potential interest and willingness to grow quickly and durably in cooperation with our best French companies.

Markets Government Bond Index.

The Director- General Dr. Abraham Nwankwo, told journalists in Abuja, that the nation’s bond market was doing well and expressed optimism that it would remain in the upward swing, going forward.

He urged investors to continue to patronize the

bonds as according to him, “The bonds remain the very safe and liquid securities they have always been.”

The DMO boss noted JPMorgan applied to list them on its index in 2012.

He expressed confidence that the planned phasing out of the FGN Bond from the JP Morgan Index does not have any

impact on the quality of the FGN Bonds they “are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria.

“FGN Bonds are supported by an active Secondary Market which allows investors to buy or sell them on any business

day through any of the 13 Primary Dealer Market Makers licensed by the DMO on The Nigerian Stock Exchange where the Bonds are listed and for which purpose there is a Government Stockbroker (Stabic IBTC).”

Dr Nwankwo admitted however that the JP Morgan Index “is a

strong tool for attracting foreign investors to invest in a domestic market for which Nigeria derived some benefits,” Notwithstanding, he said “investors who have confidence in thepotentials of Nigeria and the reforms targeted at their realisation, will still see Nigeria as an attractive investment destination.”

Vanguard, MONDAY, SEPTEMBER 21, 2015 — 21

Business & Economy

FAAN partners Kwara Govt. to develop agro-perishable cargo sector The Federal Airports Authority of Nigeria (FAAN) has said that it will partner the Kwara State Government to develop a robust agroperishable cargo sector in the state and Nigeria as a whole.

This is contained in a statement in a statement issued in Ikeja, Lagos, by the authority ’s General Manager, Corporate Affairs, Mr Yakubu Dati.

The statement quoted FAAN Director of Cargo Development, Dr Uchenna Ofulue, as saying this in Ilorin when he paid a courtesy visit to Gov. Abdulfatah Ahmed of Kwara.

The statement noted that the initiative, when fully implemented, would attract unprecedented benefits to

the state in particular, and Nigeria in general.

It enumerated some of the benefits accruable from the initiative as employment opportunities, improved standard of living for farmers and reduced rural-urban migration.

According to the statement, others benefits are foreign exchange generation, investment opportunities in logistics services and reduced youth restiveness.

It further said that the federal Government had put

in place incentives aimed at creating a conducive environment for the take-off of this initiative, to encourage investors.

In particular, it noted that FAAN had developed and designated 14 airports as cargo airports to enhance seamless movement of agricultural produce both within and outside Nigeria.

In his response, Ahmed welcomed the FAAN team and lauded the initiative as one that was capable of

adding value to the state and the nation. He noted that the state was already collaborating with professional farmers from Zimbabwe, Kenya and other notable agrarian countries, in building capacity for farmers in the state with a view to improving yield in agricultural produce. He assured the FAAN team that the state government was ready to key into this initiative in order to make the programme a reality.

More than 200 exhibitors register for Abuja trade fair — Official

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he Abuja Chamber of Commerce and Industry Limited (ABUCCI) says more than 200 exhibitors have registered to participate in Abuja international trade fair, holding from Sept. 18 to Oct. 2. The space allocation Manger and Site Engineer of ABUCCI, Mr Tony Amehor , made the disclosure in an interview in Abuja.

Several exhibitors are making final arrangements at their various stands at the fair ground. The fair which has its theme as “Entrepreneurship as a Panacea for Economic Growth’’, is designed to create a coherent and comprehensive business network.

Hajia Ya’ji Sands Konduga (M) and Taoheed Olokode (R), both beneficiaries in MTN’s 2015 Hajj sponsorship program posing with Senior Manager, Master Brand, MTN Nigeria, SaidatLawal Mohammed (L) and Segment Manager, Mass Market, MTN Nigeria, Aminu Sani, during the Hajj lecture organized by MTN for the 12 winners at the Protea Hotel, Lagos.

Travelex to open more foreign exchange outlets in Nigeria

BY SAM EYOBOKA

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ravelex, the world’s leading foreign exchange specialist, will soon open more foreign exchange outlets in Nigeria. The outlets are to be located in Lagos, Port Harcourt, Kano and Abuja in the first phase. This follows the Central Bank of Nigeria’s approval for the company to undertake direct sales of US dollar to qualified individual foreign currency users at CBN’s current rate.

Transactions to be covered under the arrangement include mostly the government-approved Personal Travel Allowance (PTA) and Business Travel Allowance (BTA), respectively.

The Travelex initiative is part

of the CBN’s strategy to avail Nigerians travelling abroad for personal leisure or business purposes of foreign exchange at official rates.

This measure is expected to assist in achieving convergence between the official exchange rate and what currently obtains in the parallel market.

The General Manager of Travelex Nigeria, Mr. Anthony Enwereji, who made the disclosure in Lagos, said the company is eager to support the ongoing CBN forex policy and the Nigerian economic system to ease the current challenges in the nation’s foreign exchange market.

He added: “The plan for these new offices is to ensure

smooth foreign exchange services to various end users across the country. These new locations will serve as a pilot scheme while we plan to open more outlets across Nigeria.

For those who need Personal Travel Allowance (PTA), they will need to present their valid— international passports, tickets and visa, while for those who need Business Travel Allowance (BTA),they will need to present; in addition to PTA requirements— certificate of incorporation of their company and letter of request, and Travelex will sell them foreign exchange at CBN’s current rate” Enwereji expressed optimism that this new business move is in line with Travelex’s

commitment to increase its investment in Nigeria and generate more job opportunities for more Nigerians across the country.

He added “our new offices and outlets will be manned by dedicated and qualified staff.

Travelex is the world’s leading foreign exchange services specialist that trades in over 80 currencies and does business in over 100 countries.

The company has over 20,000 business locations and outlets including all major airports and seaports in the world with over 1,250 ATMs. The company provides foreign exchange services to its partners worldwide including banks, supermarkets and travel agencies.

FG spent less than 10% on insurance in 2014 — Kari

By ROSEMARY ONUOHA

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he Federal Government of Nigeria was only able to spend about N2 billion on insurance out of N20 billion budgeted in 2014.

Commissioner for Insurance, Mr. Mohammed Kari stated this at the ongoing 2015 insurance professionals forum with the theme, “The Nigerian Business Environment, Implications for insurance industry, in Abeokuta, Ogun State.

Kari stated that the implication of the federal governments action was that only about 10 per cent of the budgeted amount for insurance was used, thereby exposing most federal government’s asset, workforce and operations to uncertainty.

Kari stressed that the insurance industry will no longer sit on the sidelines and allow opportunities to pass by.

The Commissioner therefore charged insurance professionals present at the forum to correct themselves than be corrected by external forces.

Kari said, “The challenges of huge competence deficit, corruption, low level of innovation, overdependence on the oil sector leaves all asunder to phantom the best soluble buyouts and how to harness the opportunities inherent therein.

“In consequence of the effect of uncontrollable changes in the m a c r o e c o n o m i c environments affecting our businesses, organisations and entities either passively or negatively, we are therefore implored to mapout adaptive strategies and identify the opportunities inherent in the ‘change’. As far as innovation is concerned, we need to improve the content and quality of our services. In addition to our quest for innovation, changes in companies business model must be exploited. The earlier we realised that the music has changed and thus the need to adjust our dancing steps, the better for us all.

“We have seen unbridled, unsustainable and technical

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22 — Vanguard, MONDAY, SEPTEMBER 21, 2015

Corporate Finance

Final winners emerge in Indomie ‘Flash and Win’ promo

By BISOLA OLOGUNDE

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he final stage of Dufil’s indomie ‘Flash and Win promo’ has seen 20 year old Fatima Hamzat, who resides in Kano emerge as winner of the grand price of N1 million.

The N1 million cheque was presented to her along three other winners of N100, 000, two from Lagos, and one from Ota, in Ogun State. The promo, which started barely two month ago, only requires consumers to buy a sachet of Indomie noodles, flash the number printed on the sachet of the seasoning inserted in the pack at no cost, then the consumer gets an instant text message.

Speaking at the prize presentation ceremony at the company ’s head office in Lagos, the Public Relations Manager, Mr. Tope Ashiwaju, said: “In this promo, what the consumers are expected to do is after every purchase of each sachet, there is a number inserted inside, which consumers are expected to just flash, and upon flashing the number, you get an instant text message which tells you that your phone number has been recorded and also welcoming you to the promo itself, and this is what is expected of you.’

Nobel Carpets supports women entrepreneurs

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obel Carpets has reitrated its unalloyed commitment to support and encourage Nigerian women entrepreneurs by empowering them with different employable skills.

The company reaffirmed this at the just concluded 2015 Empowerment Day event organized by Prime Women Builders Foundation of Nigeria in Lagos.

With the theme; “An Enterprising Heart”, the aim of the event is to assist women in communities to acquire needed skills for selfrealization and empowerment in their chosen area of endeavor.

Nobel Carpets and Rugs from the stables of Lucky Fibres Plc also presented Prime Women Builders Foundation of Nigeria Recognition with an award for its outstanding support for women empowerment.

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From left , Registrar & Chief Executive Chartered Institute of Stockbrokers (CIS) Mr. Adedeji Ajadi, Vice Chancellor Mountain Top University , Ogun State, Prof. Elijah Ayolabi, Acting President, CIS,Mr. Oluwaseyi Abe, Chairman ,Board of Trustee Mountain Top University, Emeritus Prof. Akintunde Obilade and 2nd Vice President CIS, Mr. Dapo Adekoje during courtesy visit to Mountain Top University .

JP Morgan de-listing: Meristem foresees rise in government’s borrowing costs

By PETER EGWUATU

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s the threat by JP Morgan to remove Nigeria from its GBI-EM Index draws closer, Meristem Securities Limited has predicted that government’s borrowing costs and investors’ participation on bonds will reduce.

According to Meristem, “While we anticipate government’s borrowing costs will increase, we note that recent auctions have shown that the Debt Management Office, DMO and the Central Bank of Nigeria, CBN (when allotments were not filled, and OMO auctions were not held due to yields required by market participants) will not issue securities at any cost.”

Commenting on the impact of withdrawing Nigeria’s bond from the JP Morgan Index, Meristem said “According to data compiled from JP Morgan, Assets Under Management, AUM worth approximately $208.29billon tracks the three indices in which Nigeria is included, and of the total sum $3.22billion tracks Nigerian bonds across three indices (GBI-EM Global Div., GBIEM Div., GBI-EM Broad Div.) for a total weighting across all three is 6.77%.

Although we note here that while this is the AUM which should be tracking the fund, the inability of investors to track the index will mean that the actual funds tracking Nigeria might be quite

smaller. Also, it is more than likely that with the country’s recent travails, funds may have been flowing out in the

Under normal circumstances persistent outflows over a two-month period should place significant pressure on a c o u n t r y ’ s currency.

year, and so the actual resultant capital outflows could be exponentially lower.”

Continuing it said “Besides the impact of the sell-down across the benchmark 2, 7, and 10-year bonds, going forward participation will decline, which should consequently lead to a hike in yields. While we expected only a marginal rise (0.25%) by yearend given our expectations that the Apex authority would not allow for this eventuality, given the CBN governor’s assurances of same, we have now revised our expectations and expect about a 1% rise over the

current levels.”

On the impact on the equities market, Meristem said “The performance of the equities market in the year so far has been partly due to the lack of participation by foreign investors, who have alluded to the currency not being ‘fairly priced’. And so, it had been widely anticipated that there might be a further devaluation of the currency to align with general market perceptions, although we note that the CBN has vehemently denied that it would pander to these expectations. “’The anticipated resurgence of the equities market has been heavily premised on the expectations that the FX market would be liberalized, with most market participants predicting a yearend deadline for this due primarily to the deadline given by the managers of the JP Morgan index, shirking the adamant protestations of the Apex authority to the contrary.

Given recent happenings, we do not anticipate a sustained resurgence in the near-term unless the Apex authority’s stoic stance reinstils confidence.”

Commenting the impact on the exchange rate, Meristem stated “Under normal circumstances persistent outflows over a two-month period should place significant pressure on a country’s currency. However, this is not a normal situation.

Nigeria’s currency has depreciated by a marginal 1.84% at the interbank in the period from the start of March, 2015 to-date, while the CBN has instituted strict controls at the BDC and parallel market which makes marked depreciation quite difficult.”

Developed, emerging markets diverge as Fed keeps rates steady

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eveloped equity markets across the world fell last weekend and bonds rose, pushing yields sharply lower, after the U.S. Federal Reserve refrained from raising interest rates amid weakening global growth and recent financial market volatility.

Bucking that trend to advance were stocks and currencies in emerging markets, which are more vulnerable to higher U.S. interest rates and welcomed the Fed’s Thursday decision to postpone “lift-off” on rate hikes for at least another month. Short-term lending rates, used as proxies for market expectations for the Fed’s next move, shifted dramatically.

December’s fed funds futures contract rose to drop its yield to 21.5 basis points, implying only about a 42 percent chance of a rate increase by the end of the year.

“Investors are wrestling with how concerned they should be regarding global growth,” said Jeremy Zirin, chief equity strategist at UBS

Wealth Management. “The Fed has introduced a quasi-third mandate about the global growth, apart from the labor market and inflation.” U.S. debt yields remained under downward pressure, though the short-dated two-year note’s yield had bounced from earlier lows. It was at 0.7 percent, a day after it hit a four-and-a-half-year high of 0.819 percent.

U.S. stocks weakened, following other developed markets. The Dow Jones industrial average .DJI fell 183.19 points, or 1.1 percent, to 16,491.55, the S&P 500 .SPX lost 18.18 points, or 0.91 percent, to 1,972.02 and the Nasdaq Composite .IXIC dropped 32.34 points, or 0.66 percent, to 4,861.61.

The FTSEuroFirst index of leading 300 shares slid 1.9 percent to 1,396 points .FTEU3, its biggest fall in two weeks.

European government bond yields tumbled, tracking the 2-year U.S. Treasury yield’s biggest fall since 2009.

Vanguard, MONDAY, SEPTEMBER 21, 2015 — 23

Corporate Finance Interview

By PETER EGWUATU Mr. Kyari Abba Buka is the Chairman, Nigeria Economic Summit Group, NESG. In this interview with Vanguard, he spoke on some issues bedevilling the Nigerian economy, way forward, and activities of the forthcoming 21st summit slated for Abuja from October 13-15, 2015.

Excerpts: What is the objective of this ST 21 summit?

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he objective or rather let me start with the theme of the 21st summit. In Nigeria, we’ve been having the summit every year for the last 21 years since the Nigerian Economy Summit, Group was founded. This year ’s theme is basically achieving competitiveness, inclusive growth and sustainability. In economy such as ours, government especially with this new dispensation may indeed make tough choices because the things about the execution of strategy for an enterprise or for a country is that one must have the discipline and determination to say that these are the most important things that we need to pay attention to and we need to execute them. And for Nigeria, we have to be in a hurry to fix some of these issues; we have to be competitive or to be globally competitive and we cannot exonerate ourselves from the rest of the world. We have to pay attention to our infrastructure problem, and when people talk about the infrastructure and investment in infrastructure, it is of course to us the rail , roads, the water , our airport etc. The infrastructure is all the basic ingredients, that if they are in good running condition, the economy would continue to grow at a faster rate. Now, that of course, requires a lot of money and time to achieve.

However, the discussion to be expected in the summit is to pay attention to those aspects of the economy that would be fixing them and will basically catalyse to growth. We have reported that in the past 10 years or so that Nigeria had grown at the average of 7 percent and so on and so forth. But these in my own personal views were not all that inclusive growth.

Nobody has kept statistics of that growth whether that growth is commensurate with employment growth, and how it affects the basic lives of the average citizens. Now for us as a nation, one basic investment is the investment in human capital, whether it is health care or education these are very solid

Mr. Kyari Abba Buka

Nigeria’s economic growth hasn't been all-inclusive – NESG boss investment.Now inclusive growth basically means that small medium enterprises must be there and also social safety net must be included.

This is one of the things I like about this administration which they have outlined and we in the NESG commend this administration for some of the moves they are taken and discussion going on in ensuring the availability of social net for the indigent citizens. And naturally when you are having growth, either economic growth or economic development one also most pay attention to sustainability and so the Millennium Development Goals, MDGs which is the sustainability development goals of the United Nations, we have to be cognisant of that and ensure that our growth is a sustainable one rather than a destructive one. So the theme basically encapsulate what I believe is what we want to put forth in the forthcoming summit. The summit is the platform for public private sector dialogue and this is what the Nigeria economic summit had always been. It is a forum where the private sector and the public sector come in and discuss, debate,

dialogue and at the end of the 3 day event we will now put together what we call a green book which will be the recommendations that come out from those discussions to share with the Federal Executive Council, FEC with the President being the head of the council.

Can you tell us briefly what has been the achievement of this Group since it was established?

If you can recollect the Nigeria Economic Summit Group was the vehicle that some 21 years ago recommended to government the policy of privatisation, So I remember for some people that could actually recollect most of the things that used to be run by government were not run efficiently and am not putting down our government counterpart but naturally governments are not disposed to run businesses because governments are suppose to be the engine room of what I called delivering social benefit . Basically there are more into social development rather than profit making of businesses.

The other side where we

make policy recommendation for government whether it is in the area of foreign exchange or in the area of the banking reforms, oil and gas etc. If you look at the green books of NESG from year to year you will see various policy recommendations that we have made. Starting from the very first one year of NESG, you would see how forward looking the Group have been the ship in Nigeria’s economic development and economic policies The NESG is having a new leadership which you are heading. What do you hope to achieve under your leadership?

I came in as the Chairman of NESG this year replacing Mr. Folunsho Philips whose tenor had been quite fantastic and of course the C.E.O or the Chief Executive, Jayeola Laoye also came in at about the same time or a little bit later than me. In general terms some of the things we normally do we will continue to do them. However, we would also put a lot of emphasis on what we call fact based or evidence based research and issuing out papers so that the policies of government would be guided by data and the analysis of those data. So that whatever that comes out of any NESG summit in terms of papers will be policy trust and would all be evidence base. The other thing that we will do is we are also looking at sustainability and in that regard is not just sustainability but succession planning so that the young ones would have role to play.

We do believe very strongly in succession planning. Some of us started working in NESG from inception. For me it goes back to 13 or 14years when I

Now for us as a nation, one basic investment is the investment in human capital, whether it is health care or education.

These are very solid investment

came back from the US some of the members like Jayeola, it was much earlier than that but then we were younger and we are the ones doing the rapperteur jobs, running around at night, burning the candles to meet deadlines and so on. We need to bring in the young ones so that they also can see the benefit of selfless service because this is one organisation that I would characterise to be very demanding . Some of the CEOs of major companies you see, the board and the members of the NESG reach out to them when we have issues to tackle. We reach out to CEOs of oil and gas companies, if it is telecoms , we reach out to CEO’s of those firms and they are always willing to support and help. And this is a group that literary people are paying to serve and there is no better national service than entity where not only are you serving but helping them financially to make sure that policy issue is not swept aside rather we want to make it a primary or central conversation in Nigeria.

You mentioned that President Buhari will be one of the special guests. Beside the President, what other personalities are expected in the summit?

The President will be the chief guest, we would be having him at the opening and closing ceremonies and the Vice President as the special guest at the gala night and also there would be a plenary session where he would give key notes address and we are inviting the Senate President and the Speaker of the House. So basically, the legislative arm of government would be invited and all the thirty six governors through the governors’ forum. We had invited those governors for our forthcoming discussions because when you are talking about national competitiveness or achieving competitiveness, the nation is made up of part, those part or component are the states. So, if Nigeria is to be competitive, our states must also be competitive so there should be an internal competition going on amongst the 36 states to see who is delivering one sort of service or the other.

Whatever, it is that a state is doing well as a result of competitive advantage they need to push hard and stand out and if all 36 states are running and facing the same direction, then when you sum that up the nation will be extremely competitive so that is basically the thinking behind having the governors who will represent the six geo political areas of the country.

24 — Vanguard, MONDAY, SEPTEMBER 21, 2015

Banking & Finance

Chief Internal Auditors of Banks change name

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he Committee of Chief Internal Auditors of Banks in Nigeria [CCIABN], a sub-committee of the Bankers’ Committee of the Central Bank of Nigeria, CBN has announced a change in its name. The Committee is now to be known as the Association of Chief Audit Executives of Banks in Nigeria [ACAEBIN].

The new name aligns with current international practice whereby Internal Auditors are addressed as Audit Executives.

The name Association of Chief Audit Executives of Banks in Nigeria [ACAEBIN] has been duly registered with the Corporate Affairs Commission.

The main objective of ACAEBIN is to encourage interaction among Internal Auditors in the financial industry while also fostering and promoting inter-bank cooperation, dispute resolution, ethical standards and professionalism among member organisations.

Union Bank drives cashless Nigeria with “activate and win” promo

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n its bid to transform the mind-set of its customers and stakeholders to embrace the cashless policy set by the Central Bank of Nigeria, leading Nigerian bank - Union Bank has continued to dough out fantastic prizes in its “Activate &Win” promo.

The “Activate and Win” promo will reward Union bank customers who collect and activate their MasterCard, Visa and Verve debit cards. New customers also stand a chance to win by walking into any Union bank branch, opening an account, collect and activate their debit cards. Customers who collect and activate their debit cards win instant prizes and stand a chance to win the grand prize of an all-expense paid trip to Dubai.

In a statement released by the Bank, Head Corporate Affairs & C o m m u n i c a t i o n s Ms.Ogochukwu Ekezie – Ekaidem said, “the initiative is part of our transformation drive to create value for our customers and significantly improve customer experience at all our touch points. Customers stand a chance to win fantastic prizes and a grand prize of an allexpense paid trip to Dubai while enjoying distinctive quality service using the Union Bank cards and platforms for all their transactions”.

COMMISSIONING: From left, Secretary & Director of Admin, NIPSS, Mr. Jonathan Mela Juma; NDIC CEO, Alh. Umaru Ibrahim and Director General of the Institute, Professor Tijjani Mohammed Bande (far right) while the Representative of the Vice President, Alh. Ibrahim Mohammed Yabani who is also Director of Administration in the VP's office cuts the tape to commission the Research Directorate building donated by NDIC to the Nigerian Institute of Policy & Strategic Studies, NIPSS, Kuru, near Jos.

Lack of long-term finance hinders progress in developing countries — World Bank

By PETER EGWUATU, with Agency report

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orld Bank report has attributed the choking of investmentbacked growth of companies in developing countries to the shortage of long-term financing since the 2008 crisis.

The new report tagged “Global Financial Development Report 20152016, released on Tuesday in Dar es Salaam, added that it

also hampered the ability of credit-worthy families to borrow for education and

It would be a challenge to achieve a sustainable rates of economic growth if countries fail to invest in social infrastructure, schools, roads, power generation

housing needs and escape poverty.

It noted that the shortage of long-term financing also meant that in spite of appeals by the Group of Twenty (G-20) and other key international groups, developing countries were struggling to mobilise funds in financing badly-needed infrastructure in order to grow their national and regional economies.

According to the new report, the long-term Financing’, extending the

BDC Owners forum condemn calls for further devaluation of naira

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ureau De Change Owners have condemned the clamour for further depreciation of the naira by international organisations.

Rising from the maiden BDC Owners Forum held in Lagos , the Forum pledged to support the Central Bank of Nigeria (CBN) to ensure continued stability of the naira.

This decision followed deliberations on recent developments in the BDC subsector and the foreign exchange market in general.

Identifying the need for professionalism among BDC operators, the Forum pledged to strengthen the Association of Bureaux De Change Operators of Nigeria (ABCON) to institute a robust supervision and sanction regime in the BDC industry. To complement this, the Forum decided to set up a taskforce on compliance and ethics for the industry.

Disclosing the outcome of the meeting to the press, Managing Director/Chief Executive, Sabil BDC, Alhaji Aminu Gwadabe, said, “The Forum also resolved to hold monthly meetings that must be attended

strictly by BDC Owners with the aim of reviewing developments in the subsector.

“As part of measures to strengthen capacity building in the industry, the Forum resolved to introduce an annual two days mandatory training for a director and manager from each BDC. The Forum also resolved to set up subcommittees on various issues to encourage industry wide participation of BDC operators on issues pertaining to the business of BDC. “The Forum also resolved to regularly engage relevant regulatory and government agencies with a view to complement their objectives, and also partner with them to achieve macroeconomic goals of the government.

The Forum also resolved to work towards a united and undivided ABCON as well as unity of all BDC operators under the umbrella of the Association through tours, visits to different zones of the country as well as end of year parties and awards.

maturity structure of finance is considered to be at the core of sustainable financial development.

It said in securing longterm financing, defined as investment funding that matures in a year or more depends on the same fundamentals essential to tackling the current volatility in global capital markets.

The report says policymakers need to focus on institutional reforms, such as promoting macroeconomic stability, establishing a regulated and legally enforceable banking and investment system that protects creditors and borrowers, and setting a framework for capital markets and institutional investors.

Jim Kim, World Bank Group President, said it would be a challenge to achieve a sustainable rates of economic growth if countries fail to invest in social infrastructure, schools, roads, power generation and electricity distribution and communications.

Kim cautioned that private sector construction of plants and investment in machinery and equipment were also important.

He warned that without long-term financing, households face great hurdles to raising income over their lives.

“By investing in housing or education and may not benefit from higher longterm returns on their savings.

“While commercial banks remain the primary source of financing for firms and households around the world, capital markets have grown rapidly, especially in emerging market economies like China and India” he said.

Kaushik Basu, World Bank Senior Vice President and Chief Economist, noted the report structured out the path that countries could follow to make available the kind of long-term finance, which could support sustainable and equitable growth.

He said the report highlighted examples as well as innovative approaches that some countries have taken to win access to long-term financing.

“Too little credit information makes it difficult for lenders to assess risk reliably and pushes them toward shorter lending maturities.

“Bulgaria and Nicaragua sharply increased average loan maturities after private credit bureaus were established,” he said.

Vanguard, MONDAY, SEPTEMBER 21, 2015 — 25

Banking & Finance

Financial expert tasks FG on regulating mining sector A

public policy analyst, Mr Johnson Chukwu, on Tuesday said with appropriate fiscal policies the mining sector in Nigeria could contribute 10 per cent to the nation’s GDP. Chukwu told the News Agency of Nigeria (NAN) that“our mining sector has potential for value addition to the economy if the Federal Government initiates appropriate fiscal policies.

“To further raise investment portfolio in mining will be an assurance that its 10 per cent forecasted contribution growth rate to the economy is guaranteed.“ According to an industry assessment by the Pricewater House Coopers Nigeria (PwC), mining activities in Nigeria may lift her Gross Domestic Product (GDP) by 10 per cent in the next five years.

Chukwu, also the Chief Executive Officer, Cowry Asset Management, told NAN that the PwC prediction was attainable with seriousness from the government in the area of policy planning and implementation.

“It is achievable if we take governance of fiscal policies more seriously,” he said.

He said it was paramount to

make the mining sector more business friendly by instituting appropriate regulations to reap bountifully from the sector.

He added that tax rebates to investors in mining would boost their returns on investment.

“We are supposed to be pursuing reasonable taxation programmes that grants investors the mileage to

remain in the business,” he said.

Our mining sector has potential for value addition to the economy if the Federal Government initiates appropriate fiscal policies

According to him, miners were held down in their venture by the poor infrastructure of the country.

“Modern railway system is one necessity that will boost returns on investment for miners.

“Our sea ports need upgrading too to reap much more from our natural endowments through mining “he said.

CONFERENCE: From left: Managing Director/Chief Executive, Heritage Banking Company Ltd, Mr. Ifie Sekibo; President/Chairman of Council, CIBN, Otunba (Mrs.) 'Debola Osibogun; Director General, Nigerian Tourism Development Corporation, Mrs. Sally Mbanefo and Managing Director/Chief Executive, Nigerian Deposit Insurance Corporation, Alhaji Umaru Ibrahim, mni, FCIB; at the opening ceremony of the 9th Annual Banking and Finance Conference organised by CIBN, at the Congress Hall, Transcorp Hotel, Abuja.

Financial inclusion: NPF MFB seeks to broaden services

By ROSEMARY ONUOHA

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s part of efforts to enhance financial inclusion, the Nigeria Police Force Microfinance Bank (NPF MFB) has concluded plans for its rights issue through which it planned to raise substantial amount of money to pursue its spread out initiative. The bank seems to have impressed the Nigerian Stock Exchange, NSE with its performance in terms of structure, financial management and sustainability plan.

Just recently, Augusto & Co reviewed the operations of the bank and rated it A. The rating agency at the end of that exercise declared that the Bank is a company with good financial condition and strong capacity to repay obligations on a timely basis and stable outlook.

Provision of financial services to poor and low income households Incorporated in May 1993 as a private limited liability company, the NPF Microfinance Bank Plc was granted a provisional license as a community bank by the CBN in July 1993. The Bank commenced operations in August 1993.

The NPF MFB was registered as a public limited company in July 2006 and was

given approval-in-principle as a microfinance bank in May 2007.

It obtained its final license in December 2007 and shares of the Bank became listed on the Nigerian Stock Exchange in December 2010. The bank specialises in the provision of banking and other permissible financial services to poor and low income households; and microenterprises with emphasis on members of the Nigeria Police community.

These services include retail banking, granting of loans, advances and allied services and with a large number of shareholders comprising over 6,000 institutional and individual investors, with ownership concentrated amongst the two largest shareholders, the Nigeria Police Co-operative Society Limited which holds the largest equity stake of 64.75 percent and the NPF Welfare Insurance Scheme with a 10.25 percent ownership.

The bank is now seeking to broaden its services stretching beyond its current coverage of 17 branches. The bank is eyeing to be present at the 36 states of the federation.

Managing Director of the bank, Mr. Akin Lawal said at the NSE shortly after

sounding the gong, “We are consulting and we are coming to the market at the appropriate time, all the shareholders will have the opportunity to take up their rights and the public offers. We are quite confident that whenever we choose to come to the market will be the right time.’

Lawal commended government for the foresight in establishing the Microfinance banks which he said is meeting the craving of the people, adding that it is the engine room of the economy. “It is the micro-subsector of the economy and microfinance banks are there to provide the necessary financial assistance to small companies and basically that is where they can get support.”

Chairman of the bank, Mr. Azubuko Udah said that the bank plans to establish 12 more additional branches after raising the fund. “We want to cover the whole federation, though we have two branches in Abuja but we want to satisfy the public and in particular our teeming customers.

As you observe, we are doing pretty well and I am happy with the price of our shares in the market giving the prevailing economic situation but we wish it goes up.

Central banks fret stimulus efforts are falling short

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he world’s leading central banks are facing the risk that their massive efforts to revive economic growth could be dragged down again, with some officials arguing for bold new ideas to counter the threat of slow growth for years to come. A day after the U.S. Federal Reserve kept interest rates at zero, citing risks in the global economy, the Bank of England’s chief economist said central banks had to accept that interest rates might get stuck at rock bottom.

In Japan, where interest rates have been at zero for more than 20 years, policymakers are already tossing around ideas for overhauling the Bank of Japan’s huge monetary stimulus program as they worry that it will be unsustainable in the future, according to sources familiar with its thinking.

Separately a top European Central Bank official said the ECB’s bond-buying program might need to be rethought if low inflation becomes entrenched. But he added monetary policy would not restore economic growth over the long term.

More than eight years after the onset of the financial crisis, the economies of the United States and Britain are growing at a healthier pace, in contrast to those of Japan and in many euro zone countries.

But the risk of a sharp slowdown in China and other emerging economies has prevented the Fed from starting to raise interest rates and is being watched closely by the Bank of England.

Investors mostly think that the Fed’s delay will be shortlived and that it could begin raising rates before the end of the year, followed a few months later by Britain’s central bank.

But the BoE’s chief economist, Andy Haldane, who has long been gloomy about the chances of a sustainable recovery, said the world might in fact be sinking into a new phase of the financial crisis - this time caused by emerging markets.

In a speech on Friday that summed up the dilemma for many central banks, he said policymakers had a lot less room for maneuver than in the past. Haldane pointed out that the Bank of England’s next move might be to cut its rates below their record low 0.5 percent rather than proceed with a hike as widely expected.

But even when interest rates do start to rise, he warned they could be pulled back again to near zero by future problems.

26—Vanguard, MONDAY, SEPTEMBER 21, 2015

Micro-Finance

Accessing $6bn UN market will boost non-oil sector performance — NEPC

By PROVIDENCE OBUH & BUSAYO SAMUEL Nigeria's exporters access to the $6 billion international market would scale up the country ’s non-oil sector performances, said Nigeria Export Promotion Council (NEPC).

This is so because the United Nations (UN), including its affiliated agencies represents an international market of over $6 billion for suppliers of virtually all types of goods and services.

The UN system is making great efforts to identify new sources of supply, particularly from developing and under utilised donor countries in order to create an expanded and more equitable geographical distribution of procurement.

Executive Director/CEO, NEPC, Mr. Olusegun Awolowo, made the position known at the National Seminar themed: “Accessing International Market through the United Nations Office for Project Services (UNOPs)” organised by the Council in Lagos.

Awolowo who was represented by the Director, Market Development, Mr. Matthew Iranloye, said that the market is worthy of exploring by the Nigerian exporting community hence it provides an excellent springboard to introducing Nigeria goods and services to other countries and regions, for instance “there is nothing stopping Nigerian pastas, noodles, fabrics, among others becoming official household items for the refugees. “A fraction share of this huge market will not only assist in scaling up the country’s non-oil performance, at this critical time of dwindling oil revenue but create jobs for the teaming unemployed youths and contribute to poverty reduction accordingly,” he said.

He added that the country has potential to become key suppliers and providers to the UN Agencies if efforts are geared towards meeting standards and complying with international best practices in our production and processing methods.

To this end, he said that appreciable achievement would be recorded in promoting non oil exports as key driver of the Nigerian economy if consistent efforts are made to develop and regularly enhance the capacity of Nigerian exporters.

Umuchinemere Microfinance Bank celebrate 20 years of existence

Why we partner MTN to disburse MSMEDF to retailers — LAPO Stories by PROVIDENCE OBUH

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apo Microfinance Bank, penultimate week, said that it entered into partnership with MTN with a view to meeting its commitment to Central Bank of Nigeria (CBN)’s Micro Small and Medium Enterprise Fund (MSMEDF) The initiative known as ‘MTN BizGrow’ is an SME credit product, primarily

designed to meet the funding needs of MTN retailers in partnership with credit

We needed to align with the aspiration of the CBN to ensure that the people operating at the lower cadre of the economy

organisations , especially, it would enable the telecom giant retailers’ access credit by leveraging on the small and medium enterprise development initiative of the CBN. In addition, LAPO is the first partner engaged by Mtn to extend loan facility obtained under CBN’s SME development fund program to provide funds to Mtn retailers to boost their sales.

Managing Director/CEO,

Committee tasks govts on better the conference closed, Gov. economic opportunities for women Rauf Aregbesola of Osun

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he Committee of Wives of Lagos State Government officials (COWLSO) weekend urged governments at all levels to expand economic opportunities for women.

This was part of a 10-point communique adopted at the end of a three-day National Women Conference organised by COWLSO in Lagos. The conference has “Relevance in Economic Turbulence” as its theme.

COWLSO, in the ommunique read by Prof.

Ibiyemi Bello, wife of the Secretary to the State Government, Mr Tunji Bello, said empowering women helped thriving economies and encouraged roductivity.

The committee also ecommended that overnment should encourage the establishment of more women agencies. It said that this would lead to better outcome of institutions and policy choices. The committee also urged women to cultivate the habit of saving in formal institutions and investing in bonds to help the country’s development needs.“In doing so, they are contributing to the financial

resiliency at the national level,” it said. Gov. Akinwunmi Ambode of Lagos state in his closing remarks said that the communique would encapsulate a blueprint for the economic engagement of the womenfolk in the country. Ambode said his administration would implement the recommendations as part of programmes to improve the lives of residents. Declaring

called for a renewed effort at educating the girl child and empowering women across the country. Aregbesola,who was represented by his deputy,Mrs Titi LaoyeTomori, said recent studies had shown that women, through their various businesses, had contributed immensely to the employment rate in the nation.

L APO MfB, Mr. Godwin Ehigiamusoe, said that the product has a potential to scale up and thereby translating into a superior financial returns, saying, “When the proposal for this project came in, it was very easy for us to decide to be part of it, we see this product helping us to further our mission as an institution to empower the economic factors, particularly at the bottom end of the society, secondly the fact that MTN is a great organization and I do not think that there is any serious institution that would allow a great institution to pass away without grabbing the opportunity.

“Apparently, if you look at it from the business case, this product has a potential to scale up and thereby translating into a superior financial returns. For us it is about pushing our mission and as a foremost microfinance bank in Nigeria, we needed to align with the aspiration of the CBN to ensure that the people operating at the lower cadre of the economy, that is the micro small and medium enterprises have access to finance and therefore we made our clear commitment to MSMEDF. “We have at the moment accessed N200 million from the fund and we hope that as we recruit more people especially for this product with the MTN, we will be able to go up,” he said.

However, to access the loan, participants must be MTN retailers and must have been in business for a minimum of period of 12 months. The participant in like manner must open account with LAPO and must provide a guarantor, while the loan would be accessed at any LAPO branch in the 28 states in Nigeria.

Loans would be advanced to selected or qualified retailers to tune of a minimum of N50, 000 and maximum of N100, 000 with no tangible collateral required.

Umuchinemere MfB extend services to Ibagwa community

I

n line with Federal Government’s financial inclusion policy, Umuchinemere Pro-credit Micro Finance Bank (UPMFB) has extended financial services to the people of Ibagwa Nike East, Local Government Area, in Enugu State.

Managing Director, UPMFB, Mrs. Maria Ekete, said that the need for financial services to be provided to the grassroots and the rural populace was the motivation for establishing the branch to operate in the community.

She said that the community would not have any encumbrances accessing the bank’s services, expressing optimism that the Customer Meeting Point (CMP) would someday grow to the status of a full branch offering affordable services.

Ekete commended the people of the community and the traditional rulers for encouraging the bank to bring financial

inclusion to them, just as she urged the community to collectively ensure adequate protection of the bank in the area.

Also, the Traditional Ruler, Igwe Emmanuel Ugwu, said that the establishment of the bank in the community would encourage people to save in order to raise fund to commence their own business. “We want our people to be able to raise fund and start their own businesses, that the main reason we encouraged Umuchinemere bank to come to our area,” he said.

Meanwhile, the bank’s agriculture loan clients that were due for Interest Draw Back (IDB) have received their benefits, for this year, 2015 where a first batch of 46 IDB beneficiaries received a total of N714, 260.14, while the second batch of 39 clients got a total of N548.96 as at June and the latest batch of 32 beneficiaries received a total of N482, 051.

C M Y K

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Insurance

Code of conduct:

NAICOM to sanction defaulters

By ROSEMARY ONUOHA

T

he National Insurance Commission, NAICOM, said it will sanction erring insurance operators as it has vowed to criminalise breach of code of conduct of the profession.

Commissioner for Insurance, Mr. Mohammed Kari who disclosed this, said NAICOM has been empowered by its law to treat breach of code of conduct as a criminal act and would not hesitate to implement the statute if operators continue to flout necessary rules.

Kari said this while presenting his keynote address at the 2015 Chartered Insurance Institute of Nigeria (CIIN), Professional forum held in Abeokuta, Ogun State.

Kari said that NAICOM is empowered by section 39 of the Insurance Act of 2003 to enforce the code of ethics of the market.

He added that if the industry does not uphold the tenets of their profession, the commission will have no option than to enforce the laws.

According to Kari, the code has punishment and sanction for companies that are found wanting, stressing that it is a criminal offence for a company licensed by the regulator to cut rate which is against the ethics of the profession.

He said that market indiscipline has become the order of the day and if not taken seriously, the implication of the indiscipline is that it will help to destroy the industry.

He noted that the industry cannot achieve the success it looked out to achieve at the just concluded Insurance Industry Consultative Council (IICC) forum held recently in an atmosphere where there is distrust, unprofessionalism, and without unity of purpose.

He urged the industry operators to imbibe the spirit of professionalism by doing what is morally right in the industry, adding that the challenges this time are huge and call for improved service delivery. kari asked the operators to proffer solutions to these begging questions: What does change mean to the Insurance Industry?, how prepared and ready is the industry to take opportunities around the industry?, could the industry continue to conduct business as usual and expect a different result in the new era of

change?, what are the imperative of corporate social responsibility in the face of changing environment and how best do they enhance

insurance value chain in a quest for market penetration and insurance industry desire?

He urged the operators to position themselves for opportunities in the oil,

aviation and other sectors that have been created by the government, adding that the commission is focused on the protection of policy holders and the industry in general.

Akinboye rejoins NIA governing council

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roup Managing Director and Chief Executive Officer of Standard Alliance Insurance Plc, Mr. Bode Akinboye, has been co-opted into the Governing Council of the Nigerian Insurers Association, NIA, the umbrella body for all insurance companies in Nigeria, for the year 2015/16.

In a letter by the Association conveying the Council’s decision to the Standard Alliance Insurance boss, the Governing Council noted that his co-option was expected to add value to the deliberations

of the body, adding that the decision to co-opt him was in line with the provision of article 6 (1) (d) of the Association’s constitution that provides for the co-option of members into the Council.

Akinboye who assumed office as the Group Managing Director/Chief Executive Officer of Standard Alliance Insurance in January this year after leading Gemrock Management Company Limited to acquire strategic stakes in the company, is returning to the Association as an old member having earlier

served on the Governing Council as the Treasurer for four years before he left the industry in 2009 to set up a private equity company.

Since his return as an investor which has been a welcome excitement to the nation’s insurance industry, he has initiated several fresh ways of doing the underwriting business through his company, culminating in his befitting cooption as a member of the association’s highest organ where his transformational contributions are valuably being expected.

Final winners emerge in Indomie ‘Flash and Win’ promo

By BISOLA OLOGUNDE

T

he final stage of Dufil’s indomie ‘Flash and Win promo’ has seen 20 year old Fatima Hamzat, who resides in Kano emerge as winner of the grand price of N1 million. The N1 million cheque was presented to her along three other winners of N100, 000, two from Lagos, and one from Ota, in Ogun State. The promo, which started barely two month ago, only requires consumers to buy a sachet of Indomie noodles, flash the number printed on the sachet of the seasoning inserted in the pack at no cost, then the consumer gets an instant text message.

Speaking at the prize presentation ceremony at the company ’s head office in Lagos, the Public Relations Manager, Mr. Tope Ashiwaju, said: “In this promo, what the consumers are expected to do is after every purchase of each sachet, there is a number inserted inside, which consumers are expected to just flash, and upon flashing the number, you get an instant text message which tells you that your phone number has been recorded and also welcoming you to the promo itself, and this is what is expected of you.’

23 ships expected in Lagos with petroleum products, foods

T

INAUGURATION – ARIAN President, Mr Olamerun Gbadebo congratulate the newly elected Imo State ARIAN Chapter Chairman after the election and inauguration of Imo state chapter in Owerri while others look on.

Inspenonline unveils new portal

I

nspenonline, an insurance and pension news online channel, in its determination to bring information close to the public, has unveiled a new portal A statement by the Managing Director Inspen Media, Chuks Udo Okonta, said the portal was designed to enhance public knowledge on pension, insurance and related matters.

He maintained that in the past three years of existence of the organisation, it has helped deepened awareness on insurance and pension through in-depth news reportage, analysis, interviews and the yearly insurance and pension awards which has helped showcased companies and

individuals that are making giant strides.

Okonta, who was recently nominated for an honorary doctor degree by Commonwealth University in the United Kingdom, due to his contributions to human and business existence, said the organisation will continue to promote the sectors owing to their relevance to human existence, stressing that the portal can be accessed via www.Inspenonline.com.

He called on the public to embrace insurance as it remains the best way to mitigate risks, adding that insurance exists for the survival of businesses and better lifestyle for human.

wenty three ships laden with food items, petroleum products and other goods are being expected in Lagos ports from Sept. 18 to Sept. 30. The Nigerian Ports Authority (NPA) stated this in its daily publication - ‘Shipping Position’- made available to newsmen on Friday in Lagos.

NPA said seven of the expected ships would arrive with containers, while two others would sail in with general cargo.

The document explained that nine other ships would arrive with frozen fish, buck wheat, bulk sugar and palm olein.

It said the remaining five ships were expected with petrol and base oil. The document noted that 10 ships had arrived the ports waiting to berth with general cargo, rice, frozen fish, bulk salt, petrol, bulk gas and aviation fuel.

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A SPECIAL PR OJECTS UNIT PUBLICA TION PROJECTS PUBLICATION

Alfred Irabor Okoigun @ 60: Celebrating A Great Achiever

BY GLADYS ABUGOH

I

t is set to be a glorious gathering,ofthe who is who in the Nigerian oil and gas industry today, together with their counterparts in the engineering sector as friends, associates and wellwishers converge to cheerfully honour one of their own, Alfred Irabor Okoigun, as he celebrates his 60th birthday.

This gathering, an honour welldeserved, would witness a bumper harvest of toasts to the impressive achievements made possible by hardwork, skilful deployment of youthful years, foresight and commitment to ideals by the celebrant.

Stepping into the diamond years today, Alfred Irabor Okoigun, who hails from Edo State, was born in the serene town of Ewu. He had a humble beginning in his home town. He enrolled into the Holy Trinity Catholic School in 1963 and completed his primary education in 1970.

He proceeded immediately to secondary education the same year when he gained admission into the prestigious Government College, Ughelli, Delta State and acquired the West African School Certificate in 1974.

Alfred moved on when he gained admission into the Petroleum Training Institute, P.T.I, Effurun, also in Delta State, where he studied Mechanical Engineering. In fact, he was one of the pioneer students of the Institute. On completion of his classroom training, he took up a one-year industrial training programme at the Snap Progetti of ENI in Italy as part of his practical engineering training.

He was much later to attend the breakthrough programme for senior executives at the International Institute for Management Development (IMD) in Lausanne, Switzerland as continuing education in 2002.

On his return from Italy, Alfred entered the labour market and took up a job in the oil industry.

He became a Material Management Officer at the NNPC in the Warri Refinery and Petrochemical Company, (WRPC) in Warri, Delta State and served in this capacity from C M Y K

Mr. Alfred Irabor Okoigun (Founder/Group Managing Director, ARCO Group Plc.)

1978 to 1980.

For young Alfred, the short but fulfilling experience with the NNPC was enough for him to articulate his dream to be an entrepreneur in the oil and gas industry. By 1980, he unveiled his business prowess when he set up an engineering services company, Arco Petrochemical Engineering Company Limited to offer maintenance engineering and consultancy services to operators in the oil and gas industry. Running with his vision, he got the agency representation of Nuovo Pignone, a subsidiary of the ENI Group (now General Electric) not too long after his resignation from the NNPC in 1980.

A vibrant entrepreneur, Alfred Irabor Okoigun, though only 25 years old at the time, envisioned clearly the future of the oil and gas industry and its role in

national development.

Masterfully, he tailored Arco Petrochemical Engineering Company Limited to critical needs of the industry. Through concerted efforts, he embarked on the enormous task of helping the nation to develop indigenous human capital by assisting young and potential professionals to benefit from overseas attachment with complex engineering concerns.

Many of the beneficiaries who were not under any bond to work with him in Arco have been raising their heads high in the Nigerian oil and gas industry.

In addition, he sponsored facility visits of Nigerian technocrats and even journalists to oil and gas equipment manufacturing plants and installations, as well as to industry exhibitions and seminars on energy matters

in Italy, Switzerland, USA, Brazil, Argentina, among others.

A shrewd business practitioner, Alfred Irabor Okoigun nurtured Arco Engineering Company Limited to a flourishing corporation, Arco Group Plc. Under his able leadership, the company grew steadily to attain a household name in the global oil and gas industry and also produced offshoots that are thriving subsidiaries of the parent Arco Group.

These are: Arco Marine Limited, Arco Pipeline Solutions Limited and Arco Maintenance and Engineering Limited.

These laudable moves have placed him as a foremost indigenous operator in the oil and gas sector worldwide and helped to position Nigeria’s indigenous manpower competitively, in the international labour market.

His unwavering faith in the Nigerian project fueled his persistent advocacy for local capacity building, especially in the services sector, as an edge and comparative advantage to Nigeria. By this drive, Alfred believes Nigeria would attain great heights as a net international provider of labour in the oil and gas industry, like Malaysia.

Since 1980, when he started business as a young entrepreneur till date, he has maintained Arco’s corporate social responsibility activities.

His delight in the harvest of natural endowments brings lifelong benefits to beneficiaries of his scholarship and skill acquisition programmes. His community development projects stand out at Government College, Ughelli where his outstanding contributions towards the rehabilitation and renovation of the institution stand in bold relief.

Married with children, Alfred Irabor Okoigun in company of friends, relations and multitudes of well-wishers, would radiate with joy as he recounts the numerous blessings of the Almighty God in his life.

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Homes & Housing

NHF: Adamawa workers contribute N3bn in 5 months

M

anaging Director of Federal Mortgage Bank of Nigeria (FMBN), Mr. Gimba Ya’u Kumo, said Adamawa State workers contributed N3 billion into the National Housing Fund (NHF) within five months.

In a statement, Ya’u Kumo said the workers contributed the amount to the scheme from their monthly salaries and income. He added adding that the bank has invested over N2.8 billion in the state as part of its Estate Development Loans to some members of the Real Estate Developers Association of Nigeria (REDAN). He said the bank would provide affordable mortgage loans at an affordable interest rate of 6 percent and repayable in over 30 years.

He called on state governors and local government chairmen to make housing delivery a priority in job creation. “As the foremost institution facilitating affordable housing in the country, FMBN is proud that the people of Adamawa State have always embraced the NHF. This ensures that we are ever ready to support housing initiatives in the state.”

Borno renames housing estate after late Dep Gov

B

ornu State government has renamed Legacy Gardens Estate in Maiduguri, after the State’s late Deputy Governor, Alhaji Zannah Mustapha, who died month ago.

Gov. Kashim Shettima made the announcement in Maiduguri that the estate consisting of 50 blocks of twostorey luxury buildings, located along Airport road, had been renamed Zannah Mustapha Legacy Gardens. He directed Alhaji Jidda Shuwa, Secretary to the State Government, to supervise the immediate renaming of all sign posts containing the old name around the estate.

He said that his action was predicated on the fact that the late deputy was the chairman of the committee that executed the project. “Mustapha virtually relocated to the site of the project at some point without neglecting other duties assigned to him. He was so passionate about the project; it was usually the first thing he visited in the day and the last he saw in the evenings.

Mustapha cannot be replaced, but the least we can do is to sustain his legacies.

*Nigeria’s World Trade Centre in Abuja.

Nigeria’s World Trade Centre opens next year Stories by YINKA KOLAWOLE, with agency reports

A

World Trade Centre complex is expected to open to the public in Abuja early next year after the completion of the first phase of construction.

The development will join a network of 323 locations in 89 countries, started in 1970 with the inauguration of the first World Trade Centre in New York City. Funded by local and foreign financial institutions, as well as private investors, to the tune of N200 billion, or just over $1 billion, the WTC Abuja will be the largest mixed-use development in West Africa.

Global network A report by CNN recalled that WTC Abuja has been under development since 2010, on a lot spanning over six million square feet in the Central Business Area of the capital. The location offers easy access to the city centre and the airport, with a dual-carriage highway surrounding the site and a new light rail system currently under construction. For business tenants, though, the most important connections will be those with the global network of 750,000 entrepreneurs that make up the World Trade Centres Association (WTCA).

“One of the missions of WTC Abuja is to improve trade relations between Nigeria and the rest of the world. For example, it will enable international businesses to make investments in our community. Ties will be forged between government agencies, non-governmental organizations and international corporations, and the additional business that is captured within the walls of the World Trade

Center will provide tax revenues to government which can be used to improve the welfare of the people,” Vinay Mahtani, CEO of the site’s

One of the missions of WTC Abuja is to improve trade relations between Nigeria and the rest of the world

developer, Lagos-based Churchgate Group said.

Construction challenges Initially projected to open in 2013, the WTC Abuja has gone through various design phases, and construction itself hasn’t been free of challenges. “For example certain areas of the project have had to be redesigned as we repositioned ourselves in order meet the ever-changing consumer and market needs. We have also faced logistical issues such as congestion in the ports, which has meant our building materials arrived at site behind schedule,” said Mahtani.

Construction is now nearing the end of the first phase, which comprises the residential and

commercial towers. The former will offer luxury apartments with modern amenities, while the latter will accommodate businesses of various sizes, with offices ranging from 100 to 1,440 square meters. The buildings, at 24-storeys each, are set to define Abuja’s skyline: the Commercial Tower is the tallest office building in the nation’s capital, while the Residential Tower is the tallest residential building in Nigeria.

Future phases include the construction of a shopping mall and a 37-storey hotel, which will be among the tallest skyscrapers in the continent.

Upsides and downsides Nigeria, which has attracted the largest amount of foreign investment capital in subSaharan Africa since 2007, is set to gain international prestige from the development: “There is no doubt that Abuja and Lagos will benefit tremendously from high end commercial and residential real estates,” Adekunle Salau, Ernst & Young Advisory Leader for West Africa, told CNN. “My expectation is that if this is executed to plan, Abuja will be able to host world class conferences and compete favourably with Johannesburg and Cape town for international events. It may also moderate the cost of hotels and rents in Abuja, but more importantly it should add significantly to the economic development of the capital, creating employment in the service and retail sectors.

The downside is that it can also be artificially priced, thereby continuing to heat up the already high cost of Abuja properties and secondly, the amenities may not be developed to the quality expected from the WTA brand,” Salau said.

Understanding mortgage process, terminology

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rocuring a mortgage does not have to be a difficult process. It is merely a matter of understanding the requirements of the bank and the processes involved Pre-approval - To begin the process one is required to go to a bank in person to apply for the loan. Before the bank approves it has to verify your eligibility for a loan according to your lender’s guidelines. These guidelines involve producing a number of documents including your bank statement, tax returns as well as other financial information and documentation. Some of the mortgage preapproval process requirements are: opening an account with a minimum of N100,000; completed application form with an application letter for the mortgage; identity verification (Staff Identity, National Identity Card, utility bill, 2 references, 5 passport photographs.)

Income verification - This is to confirm employment status of the applicant and the eligibility of repayment. As a buyer can only be charged a maximum of 35 percent of his monthly income, the bank has to ensure that you can pay back over a period of 15 years or less. After this process, an offer letter is issued.

It is only at this stage that a mortgage pre-

approval is confirmed.

Interest rate - The interest rate is the percentage of the principal (total cost of the property) charged for issuing the mortgage.

This rate partly depends on the risk rating. It varies between 18 -22 percent. The lower the risk of repayment capacity, the lower the interest rate will be.

Refinancing - Refinancing occurs when a buyer pays out an old loan using a new loan.

To access refinancing, you will need to have registered an existing property in your name.

This will be used as collateral to acquire a loan for a new property. It is essential that the value of the existing property is higher than the needed property.

Tenor - This is the time period given to repay the loan and is a critical factor to take into consideration in obtaining a mortgage. A longer tenor means easier or more favourable payouts over a longer period of time.

Equity - This is the amount you are expected to contribute towards the mortgage payment, usually from your savings. The equity is calculated as a percentage of the mortgage and is paid upfront. *Culled from Lamudi.com

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Corporate Report

S

eplat Petroleum D e v e l o p m e n t Company ’s second quarter operations ended with sharp drops in both revenue and profit. The full year outlook indicates the company is headed for accelerated drops in revenue and profit in 2015 after losing more than one-half of its preceding year’s profit in 2014.

The petroleum drilling and exporting company has come under pressure from the drop in crude oil prices as well as rising cost, which have set profit crashing.

Sales revenue fell by 36.2% year-on-year in dollar terms in the second quarter, which moderated to a decline of 19.1% in naira due to the impact of the local currency depreciation. The company’s sales revenue amounted to N48.76 billion at the end of the second quarter and the full year projection is N98.4 billion for Seplat Petroleum Development Company at the end of 2015.

A sustaining favourable trend for the company is the increasing contribution of gas sales to revenue, which is moderating the decline in crude oil sales. Sales of crude oil, the main revenue line of the company, dropped by 57.4% to N26.71 billion during the period but gas export revenue grew by close to 252% to N5.22 billion during the review period. Sales of gas contributed an increased share of revenue from 2.5% in the second quarter of last year to 10.7% this year.

Changes in lifting added N16.83 billion to revenue, rising from a negative figure of about N3.90 billion in the same period last year.

The projected revenue for the company in 2015 is indicating a likely drop of 20.9% from the turnover figure of N124.38 billion the company reported at the end of last year. It will also mean an accelerated drop from the three-year peak sales revenue of N136.66 billion in 2013.

After tax profit amounted to N8.17 billion at the end of the second quarter, which represents a drop of 66.3% yearon-year. Full year outlook indicates after tax profit of under N17 billion for Seplat Petroleum Development Company in 2015. This means the company could lose as much as 58% of the profit figure of N40.48 billion it reported in the preceding year. Its profit had fallen by 52.6% in 2014 from the peak figure of N85.43 billion in 2013.

The more rapid drop in profit than revenue reflects major kinks in the company’s cost structure. Two major cost elements are responsible for undermining the company’s profit capacity and they are cost of sales and finance charges.

Cost of sales rose by 25% against

VISIT: From left: Legal Director and Company Secretary, GSK Consumer Nigeria Plc, Mr. Uche Uwechia; Site Director, GSK Agbara, Mr. Alawode Niyi; Finance and Controlling Advisor, SOS Children’s Villages, Nigeria, Mr. Abu Tunde and Programme Director, SOS Children’s Village, Lagos, Mr. Adelopo Ayodeji during GSK’s visit to the SOS Children’s Village, Isolo, Lagos.

Seplat Petroleum heads for another sharp drop in revenue, profit

By MIKE UZOR the drop in sales revenue, which caused a drop of 44.3% in gross profit to N21.39 billion. Gross profit margin went down from 63.7% in the second quarter of last year to 43.9% this year.

The second factor for the sliding profit is interest cost, which surged by 135.7% year on-year to N7.92 billion at the end of the second quarter. This is already more than the total interest expenses the company paid in all of 2014. Rising interest expenses follows rising balance sheet borrowings.

Long-term debts took a high jump of over 276% to N166.36 billion in the second quarter from the closing figure last December.

Short-term borrowings have however dropped by 55.3% to N32.15 billion over the same period.

The borrowings are required to finance heavy investing activities in oil and gas assets.

The cost-income ratio continues to increase, resulting in a sustaining decline in profit margin. Net profit margin continues to drop rapidly from 62.5% at the end of 2013 to 32.5% in 2014 and further to 16.7% at the end of the second quarter.

The company earned N14.77 per share at the end of the second quarter, a decline from N52.47 in the same period in 2014. Earnings per share is projected at N30.72 for Seplat

Petroleum Development Company at the end of 2015.

This will be a continuing rapid drop from N213 in 2013 and N79 in 2014. The company paid an interim dividend of N9.30 and a final dividend of N18 per share for its 2014 operations, which aren’t likely to be maintained for 2015.

The company faces much cash flow difficulties with a net cash utilisation of N7.20 billion in operating activities, down from a net cash generation of over N41 billion in the same period last year. This is largely due to inability to collect trade debts.

All the money the company needs to finance its operations are tied down in trade and other receivables, which rose from about N198 billion in second quarter of last year to over N251

The cost-income ratio continues to increase, resulting in a sustaining decline in profit margin. Net profit margin continues to drop rapidly from 62.5% at the end of 2013 to 32.5% in 2014 and further to 16.7% at the end of the second quarter

billion at the end of June.

UACN heads for profit crash in 2015 UACN ended its second quarter operations at a loss and the full year outlook indicates a likely profit crash from the company’s profit peak in 2014.

The profit figure in the second quarter is therefore lower than in the first and the conglomerate may close the current year with the lowest profit in several years.

UACN is facing operating pressure from both sides of sales revenue and profit. Profit capacity has weakened due to declining revenue against rapidly rising operating expenses. Sales revenue dropped by 7% year-on-year at the end of June to 37.37 billion.

Turnover is projected at N75.56 billion for UACN at the end of 2015, a likely drop of 12%. The company grew sales revenue by 8.8% to N85.65 billion in 2014 and has maintained consistent growth in turnover since 2011.

Worsening performance of other income reinforced the drop in sales revenue during the period. The drop in other income increased from 28% in the first quarter to 37% in the second. Share of profit from associates also dropped further from 15% year-on-year in the first quarter to 18% to N1.2 billion in the second quarter.

The critical factor that undermined the company’s profit capacity in the second quarter is distribution/

administrative cost, which rose by 35% against the 7% decline in sales revenue. It therefore claimed 19.4% of sales revenue in the second quarter against 13.4% in the same period last year. A moderating factor came from a drop of 31% in interest expenses to N708 million yearon-year despite the increasing debt profile of the company.

Long-term borrowings rose by 17% to N9.28 billion and shortterm financial liabilities increased by 5% to over N24 billion from the closing figures in 2014.

After tax profit amounted to N1.04 billion at the end of the second quarter, a fall of 70% year-on-year. It is also a drop from the first quarter figure of N1.68 billion. A loss of N638 million occurred in the second quarter, as cost of sales and distribution/administrative expenses grew well ahead of sales revenue.

Based on the growth rate seen at the end of the second quarter, after tax profit is projected at N2.4 billion for UACN in 2015, which is indicating a sharp drop of about 78% from the peak profit of N10.73 billion the company posted in 2014. This will be the lowest profit figure for the company in five years. It grew after tax profit by 8.6% in 2014 and has grown profit every year since 2011.

The company lost significant profit margin during the review period. Net profit margin continues to drop from 12.5% at the end of 2014 to 9.5% in the first quarter and further to 2.8% at the end of the second quarter.

The company earned 40 kobo per share at the end of the second quarter, a decline from 50 kobo in the first quarter and from N1.03 in the corresponding quarter last year.

Earnings per share is expected to come to 91 kobo for UACN at the end of 2015 based on the full year projection of net profit attributable to owners of the company. That would be a drop from earnings per share of N3.40 the company achieved in 2014.

Major developments in the balance sheet include an increase of 19% in trade debtors and other receivables to about N19 billion, an increase of 12% in trade and other payables to N16.53 billion and an increase of 21% in cash and bank balances to N9.65 billion over the last year’s closing figures.

The company’s cash flow position remains critical with a sharp drop in net cash generated from operating activities – which could not cover the financing activities of the company. The company paid a cash dividend of N1.75 per share to shareholders for its 2014 operations. *Mr. Uzor is an analyst/ financial consultant based in Lagos.

Vanguard, MONDAY, SEPTEMBER 21, 2015 — 35

Corporate Report

NSE index, capitalisation drop by 0.26%

By PETER EGWUATU

T

he Nigerian Stock Exchange, NSE ended the last trading session of the week in the red despite sustained gains in Financials and Consumer Goods following more substantial losses in the Industrial Goods sector.

Specifically, the NSE AllShare Index depreciated by 77.71 points or 0.26 per cent to close at 30,332.68 as against the 30,410.39 achieved on Thursday.

Similarly, the market capitalisation dropped by N27 billion or 0.26 per cent to close at N10.424 trillion from the N10.451 trillion posted on Thursday.

Meanwhile, European and Asian markets closed in the red as FOMC’s cautious decision to leave interest rate unchanged worsened concerns over the health of the global economy. U.S markets traded similarly as major indices fell in the opening hours of today ’s trading session.

The Financial Services sector of the NSE maintained its positive momentum lead due to demand in Guaranty Trust Bank which gained 187 bases points and UBA with an ursurge of 170 bases points. The Consumer Goods sector appreciated by 33 bases points also closed in the positive owing to gains in Nigeria Breweries, NB rising by 11 bases points and Guinness appreciating by 27

bases points. Investors on Friday staked N3.51 billion on 333.43 million shares in 3,292 deals.

The volume of transactions represented 57.36 per cent decrease over the 211.89 million shares worth N2.73 billion traded in 3,051 deals on Thursday.

LASACO emerged the most traded stock with 63.11 million shares worth N31.56 million, transacted by investors in five deals.

Sovereign Insurance came second on the activity with 40.00 million shares worth N20 million in four deals, while GTBank accounted for

21.59 million shares valued N529.40 million in 264 deals.

Dangote Cement recorded the highest price loss of N2.99 to close at N167.01 per share. It was trailed by

The Financial Services sector of the NSE maintained its positive momentum lead

UACN, which lost N1.18 to close at N31.82, while PZ Cussons depreciated by 65k to close at N26 per share.

Unilever dipped 58k to close at N45.22, while Stanbic IBTC dropped by 34k to close at N21.66 per share.

Conversely, Seplat led the gainers’ chart by N7 to close at N240 per share. Forte oil trailed with a gain of N2.30 to close at N228.80, while Nigerian Breweries grew by N1.48 to close at N136 per share. Flour Mill appreciated by 61k to close at N23.62 and Ashaka Cement lost 49k to close at N22.50 per share.

ANNIVERSARY: From left: ;Executive Director, British American Tobacco Nigeria Foundation, Seyi Ashade; Human Resources Executive, MTN Nigeria, Mrs Amina Oyagbola; Head of Government Affairs, West Africa Area, British American Tobacco Nigeria (BATN), Odiri ErewaMeggison; Executive Secretary, MTN Foundation, Ms Nonny Ugboma, during the MTN Foundation 10th anniversary celebration held at the Eko Convention Centre, Eko Hotel and Suites, Victoria Island, Lagos.

Turnaround for Unilever unlikely in the near term — FBN

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BN Capital has stated that Unilever Nigeria Plc may not likely witness turnaround in the nearest time.

The FBN Capital in its report said “Unilever’s second quarter, Q2 2015 results came in weaker than expected and showed marked losses.

Earnings were weighed down by a -329 bases points, bps year on year , y/y, with gross margin contraction and high operating expenses , opex and financial charges. In the near term, we do not envisage these costs softening due to the unfavorable macroeconomic conditions. As such, we have cut our earnings estimates for the 2015-16 Earnings period by 45 per cent. “’ In addition to this cut, we have increased our risk free rate by 100bps to 15.5 per cent and reduced our terminal growth rate assumption to 7 per cent.

However, we have cut our PT

by only 13 per cent to N21.6 due to our decision to roll over our DCF valuation to 2016. Our PT implies a downside potential of -52.8 per cent from current levels. The shares have gained 27.9 per cent year-todate .The rally was due to Unilever BV’s decision to acquire more shares in Unilever Nigeria earlier this year at a 34 per cent premium to the share price on the announcement day. As such, we maintain our underperform rating.”’

In its report, the FBN Capital stated “ there are Significant losses in Q2: Q2 2015 results showed that sales of N13.8billion declined -10.6 per cent y/y. Unilever recorded Profit Before Tax, PBT and PAT losses of –N771million and – N505million respectively vs N988million and N714million in Q2 2014. The weak performance was driven by a combination of factors:

Unilever’s finance charges, which grew by 160.5 per cent , a -329bp y/y gross margin contraction and a 6.1 per cent y/y rise in opex. Sequentially, sales were down by -7.4% q/q, while the losses compare with PBT and PAT of N866m and N590m respectively in the previous quarter.

On the outlook for Unilever, the report states “Outlook to

remain challenging: We believe the naira devaluation impact on raw material prices was the driver behind the gross margin contraction. Our checks reveal that Unilever has lost ground in several consumer brands due to competition and low switching costs. Hence, we do not envisage softer opex and financing charges in the near.”

Renaissance Capital appoints Temi Popoola CEO for Nigeria

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enaissance Capital, a leading emerging and frontier markets investment bank, announces that Temi Popoola has been appointed CEO for Nigeria.

In his new role, Mr. Popoola will focus on equities and growing the investment banking side of the business, as well as overseeing a 25strong team in Lagos. He will report to Igor Vayn, CEO, and Ruslan Babaev, Chief Business Officer, with additional reporting lines to Ben Samuels, Global Head of Equities, and James Friel, Global Head of Investment Banking.

Mr. Popoola joined Renaissance Capital in July 2015 and has been working closely with the sales team, traders and research analysts both locally and across the Firm’s network of offices to drive the Nigerian equities business. He has over 13 years of international experience in equities and derivatives in emerging markets. Prior to joining the Firm, he played a key role in building a successful equities business at CSL Stockbrokers/ FCMB in Lagos, enabling the company to become the number two by market share on the NSE in 2014.

Mr. Popoola began his career as an asset manager in London in 2002, before joining Bank of America Securities in New York in 2006 as a trader in equity derivatives. He then moved to Lagos three years later to join the United Bank for Africa as Head of New Products and Investments. Mr. Popoola was also the co-founder of Centurion Capital Partners, an asset management firm based in New York.

He holds a First Class degree in Chemical Engineering from the University of Lagos.

UBA celebrates courage, selflessness with support for film on Ebola

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nited Bank for Africa (Plc) has restated its commitment to the growth and development of the African movie industry by supporting the making ’93 days’, an inspirational movie on Ebola as it happened in Nigeria.

The movie tells the story of the victory over the Ebola scourge that would have ravaged the country in 2014 but for the collective efforts of some brave institutions and individuals. It

pays tribute to the late Dr. Ameyo Adadevoh who died from contracting the virus whilst she was trying to save others.

Speaking at the World Press Conference in Lagos, Nigeria to announce the movie and unveil the cast, Charles Aigbe, UBA Head of Marketing and Corporate Relations, said “UBA is supporting the making of the movie because what happened in Nigeria is a positive story of courage, resilience,

selflessness, teamwork and collaboration that must be told for posterity”.

Mr. Aigbe reiterated UBA’s commitment to Ebola relief saying “we have operations in 19 African countries including Guinea, Sierra Leone and Liberia, which are 3 of the worst hit countries. During the Ebola crisis, we remained open for business and never for once closed shop on account of the scourge.

36 — Vanguard, MONDAY, SEPTEMBER 21, 2015

Aviation ICPC to conduct corruption risk assessment at airports

By LAWANI MIKAIRU & DANIEL ETEGHE

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he

Independent Corrupt Practices and other Related Commission (ICPC) on Thursday declared that it would conduct a Corruption Risk Assessment at both the Murtala Muhammed Airport, Lagos and the Nnamdi Azikiwe International Airport, Abuja with a view to eradicating low level corruption in the aviation industry. Head of delegation to the Federal Airports Authority of Nigeria (FAAN), Chairman of the Aviation Anti-Corruption Committee ICPC, Mr. Isa Ozi Salami said that the visit was meant to implore the management of FAAN to cooperate in the exercise.

Mr. Salami pointed out that with the Memorandum Of Understanding (MOU) between both agencies to eliminate low level corruption, the ICPC requires full cooperation from FAAN as the exercise had reached a critical stage.

According to him, airports are gateway to the country and it was imperative to face-out corruption at the airports adding that ICPC strategy was based on analytical approach as well as getting full co-operation from the public.

“We want to go into the implementation stage. We will study the organisation, that is FAAN, we will look at what causes corruption in the system and try to block the loopholes.

Our aim here is that we want collaboration in the fight against corruption”. “Very soon, our staff and technical personnel will be coming around to see how you run your operations in FAAN and this can give us a leeway to knowing what causes corruption in FAAN” Mr. Salami said.

Also speaking, Director of

Internal Audit, Federal Ministry of Aviation, Mr. Jibrin Manigi said that the ministry was glad to have the ICPC to collaborate with FAAN to fight corruption at the airports.

Mr. Manigi implored the management of FAAN to train its staff in the ICPC college in Abuja adding that it would give the staff idea of how to tackle corruption.

While expressing delight and full support for ICPC request, Managing Director of the Federal Airports Authority of Nigeria (FAAN), Engr. Salem Dunoma said, ICPC would get total commitment from FAAN. Engr. Dunoma who was represented by the Director of Administration, FAAN, Mr. Ikechi Uko added that FAAN was already addressing some

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COMPETITION: From left: The winner of the men’s category at the Open Wheel-chair Road Walk competition for physically challenged persons, Mr. Rasak Bankole; Head, Corporate Affairs and Media Management of First City Monument Bank (FCMB) Limited, Mr. Louis Ibe; winner of the women’s category, Hannah Babalola and Pastor Victor Mukwuzi of St Joseph Chosen Church of God, during the competition organised by Skylak Sports of Nigeria and supported by FCMB, which took place in Lagos.

Nigeria's travel, tourism market nets N200 bn in 2014

By LAWANI MIKAIRU

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he Nigerian Travel market grossed about N200 billion last year. This was disclosed by the management of Quantum Travels during the unveiling of a new online travel platform, AJALA.ng by the company. The official launch

By LAWANI MIKAIRU

he Nigerian police have arrested the vice president, Fast Logistics Solutions, Mr. Mohammed Shazul at the Murtala Mohammed International Airport (MMIA).

His arrest was a fall out of a complaint by a Nigerian citizen who alleged that the suspect used his document to apply for a Dubai Visa without his authorization.

Investigation revealed that, the Indian born shazul who is now the vice president, Fast Logistics Solutions International was picked up by the police, shortly after he C M Y K

FAAN boss expresses satisfaction with Hajj operations at Kano Airport

By LAWANI MIKAIRU

of the online platform was held in Lagos According to the Head, Brand Marketing and Projects, Ms. Omolua Oyakhire , AJALA.ng is supported by a network of partners across the world and its aim is to deliver quick and affordable online travel management services ranging from flight/hotel

Police nabs Indian visa racketeer at Lagos Airport

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of the issues on the MoU with ICPC stressing that the issue of touting at the airport had been reduced to its bearest minimal.

“We are aware of our responsibilities and we are addressing them. We will give you all the support. When you destroy corruption at our airports and country at large, it will attract investors to our country” he affirmed.

arrived at MMIA, from Dubai, aboard Emirate Airlines.

Further investigation also revealed that his interrogation lasted for several hours, a move the police claimed was meant to give more time to dig deeper as well as to ascertain whether or not the suspect acted alone.

Others who were implicated on this matter includes: Al Ameen Challisery Kerala, Chairman, Fast Logistics Solution Group, Mr. Peter Shoten, Nagraj Komperla, Radhakrishnan and Mr. Aljaleel Thalapilly.

Mr. Mohammed has since been granted bail, pending further investigation.

bookings, travel finance, travel cards, tours/ sightseeing, car hire/ transfers, corporate meetings management /destination events, visa processing / advisement as well as group packages for both frequent and prospective travelers.

She also said “At AJALA.ng, our number one aim is to provide travel paths and plans that won’t break the bank, whilst meeting our customers’ need. We provide a holistic approach to our travel service offerings thereby granting control to the traveler to create a travel experience that exceeds their expectations” she said.

Oyakhire further explained that the new online platform would help improve the ease of acquiring travel information and support customers who desire to travel but do not have adequate resources by providing them with the option of spreading payment over a specific period of time and still meeting their travelling desires with a relatively low cost.

he Managing Director of the Federal Airports Authority of Nigeria, Engr. Saleh Dunoma, has expressed delight at the successful conduct of the 2015 Hajj operations at the Aminu Kano International Airport, Kano. He made the remark on Thursday, when he supervised the conclusion of the airlifting of Hajj pilgrims to Mecca from the airport.

Engr.

Dunoma expressed satisfaction with the level of safety and security measures, including the use of body scanners, Closed-Circuit Television (CCTV) and walk-through metal detectors, put in place to ensure that this year ’s Hajj operation was hitchfree. He also lauded the commitment of FAAN’s personnel handling the operations at the Hajj Terminal.

According to Mr Yakubu Dati, General Manager, Corporate Affairs, FAAN, Engr.

Dunoma used the opportunity of that assignment to inspect the terminal facilities at Aminu Kano International Airport, Kano, in the company of the Regional Manager (North/West), Alh. Mamuda Zakari, Airport Manager, Kano, Alh. Gambo Mallam and other officials of the Authority.

While assuring that all necessary arrangements have been made to ensure successful arrival of all the pilgrims, he also assured the general public that FAAN would continue to upgrade the facilities at the nation’s airports to meet r e c o m m e n d e d international standards and practice.

Vanguard, MONDAY, SEPTEMBER 21, 2015 — 37

Agric

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do governor, Adams Oshiomhole, said the state could feed Nigeria with rice if waiver on the commodity was removed.

He stated this at the backdrop of decision of the National Economic Council to promote local production of food crops in states with comparative advantage on them. The governor, who spoke with State House correspondents on Friday in Abuja, decried the waiver granted rice importers by the previous administration, saying that it led to dumping of various goods in the country.

He said that the incentive also drove local producers of food items, including rice, out of business.

He stated that big rice millers in the state were already waiting to see if the implementation of the policy before they would return to the farms. “Edo could do a lot if the Federal Government has coherent agricultural policies that do not provide the window for waivers, and expired rice and cheap rice to be dumped on Nigeria,” he said.

According to the governor, Edo has huge potential for massive rice production but such might not happen until the right policies are made.

He said that Leventis Group, which had a large rice farm in Agenebode, had promised that with the new administration in the country, and controversies over duty waivers removed, it was willing to resume production. He also said that Dangote Group had acquired about 50,000 hectares of land for rice farming in the state and was enthusiastic to go into massive rice farming with the right policies in place.

He said his administration had waived land charges as incentives for big investors in agriculture and urged those interested in investing in the

Edo can feed Nigeria with rice — OSHIOMHOLE

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Gov. Oshiomhole state to embrace the gesture.

On fresh forensic audit being carried out on Nigerian National Petroleum Corporation (NNPC), Oshimhole explained that it was being done because the one carried out by the past administration was incomprehensive.

He said that the firm which carried out the first audit was not given free hand to conduct the exercise, adding that the new audit approved by the economic council would also look into the700 million dollars Sovereign Wealth Fund. He said that the fund which had 1 billion dollars was left with

By JIMOH BABATUNDE

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wo New Hybrid Maize that will help improve productivity and income of farmers in Nigeria have been released at the Institute of Agricultural Research and Training (IART), Obafemi Awolowo University in Ibadan.

The new maize hybrids – Ife

Maizehyb-07 and Ife Maizehyb08 were released by Dr. Samuel Adelowo Olakojo and his team with the support from Alliance for Green Revolution in Africa (AGRA).

The grant from AGRA seeks to increase the production and productivity of smallholder farmers in the humid forest ecologies of Nigeria by developing and promoting ten

…launches Fertiliser Quality Control System

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BUJA — THE Federal Government has resolved to go tough on fake fertiliser producers as they have been selling the commodity to unsuspecting farmers who have raised alarm over the damages done to their farmlands and produce. This was disclosed by the Permanent Secretary, Architect Sony Echono, who was represented by Director, Federal Fertiliser Department, Akinbobola Osho, at the official launch of ‘Establishment and Implementation of Fertilizer Quality Control System in Nigeria’ in Abuja.

He said that some people were arrested by the Nigeria C M Y K

Rice plantation

only 300 million dollars at the expiration of the past administration. The governor said the truth about disappearances of money from NNPC, its subsidiaries and other Federal Government accounts would be made public after the fresh audit ordered by the council.

Nigerian researchers release two new maize hybrids

FG to go tough on fake fertiliser producers

By GABRIEL EWEPU

Marathon maize project winds up after eight years

Security and Civil Defence Corps, NSCDC, in Niger State, who were selling adulterated fertilisers to farmers, and were handed over to the Police, who are handing the case as criminal.

The Permanent Secretary further stated that the Fertiliser Bill at the National Assembly has provisions for clamping down on perpetrators and punish them accordingly, and also expressed confidence that the bill would be passed into law by the 8th Assembly.

He said: “It has become necessary for the ministry to embark on this initiative supported by Alliance for a Green Revolution in Africa, AGRA, to develop a regulatory

framework for quality checks and enforcement to ensure that farmers access quality fertilizers.

“In this regard, the obligation of the Government under the policy statement is to ensure and enforce quality control of fertiliser through the establishment and enforcement of a market-friendly, legal and regulatory framework that is adopted, legislated and implemented by the Ministry.

“Federal Government inspectors to undertake periodic quality control at the fertilizer production plants, ports of discharge and market outlets Fertilizer samples to be drawn by inspection officials for laboratory analysis.

top cross hybrids maize adaptable to the region.

The just released hybrid maize which took over five years of intensive research work to develop, register and release the varieties, have potential yields of 7.0/ha and 8.5t/ha respectively and other have qualities that include early maturity.

The new hybrids, which have potential yields of 7.0/ha and 8.5t/ha respectively, have qualities that include early maturity; advantage during erratic rainfall seasons especially in the second planting in South West Nigeria, and grain size and high starch content, which are good for livestock feed mill. For instance, the Ife Maizehyb-08 weighs better and has high energy to release from feed.

Dr. Toure Aboubacar, Alliance for Green Revolution in Africa (AGRA)’s Program Officer for Crop Improvement and Variety Adoption speaking on the release said: “AGRA’s strategy to meet the needs of smallholder farmers across Africa is yielding great results.

“We are very happy that our support to national research institutions to develop, register and release improved varieties of staple crops such as maize is paying off as exemplified by the release of these two new maize varieties.

artners and funders of the Drought Tolerant Maize for Africa (DTMA) Project this week convened in Addis Ababa, Ethiopia, to take stock of the project.

DTMA concludes its work in Africa after eight years of work on improved drought-tolerant maize, to help maize farmers in sub-Saharan Africa mitigate drought.

“Africa’s food security faces a host of challenges, but undoubtedly, drought is the most devastating challenge because our farmers rely on rains to grow their food. The work undertaken by DTMA has created significant impacts.

However, several challenges remain,” said Dr. B.M. Prasanna, Director of CIMMYT’s Global Maize Program as well as the CGIAR Research Program on MAIZE. “Our work continues in subSaharan Africa to ensure farmers can access improved maize seed with drought tolerance and other relevant traits that contribute to increased and stable yields,” he added.

The meeting reflected on the project’s achievements in some of Africa’s breadbasket countries. DTMA has released more than 200 drought-tolerant maize varieties that perform significantly better under moderate drought compared to varieties already on the market, while yielding at par with – or better – than these existing varieties when there is no drought.

DTMA varieties include hybrids that yield, on average, 15 percent more than widely grown commercial hybrids, giving farmers much higher yield regardless of climatic constraints – in good years or in bad years.

More than two million farmers have acquired and grown the new droughttolerant varieties in DTMA target countries, including Ethiopia: the 13 DTMA target countries are Angola, Benin, Ethiopia, Ghana, Kenya, Malawi, Mali, Mozambique, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe. Of the 11 varieties released in Ethiopia by DTMA, six are high-yielding hybrids that will contribute to improving food security for the more than nine million smallholder households currently growing maize for food and income.

DTMA has benefited from, and drawn on, rich partnerships with private and public institutions.

38 — Vanguard, MONDAY, SEPTEMBER 21, 2015

Economy Stories by EMEKA ANAETO, Economy Editor

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t the backdrop of some serious negative developments in the monetary and macro-economic environment the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meets today and banking industry analysts have posited likely focus and outcome. MPC is the highest policy making organ of the CBN. MPC, usually, would consider the domestic and international economic and financial conditions in order to implement policies that would influence the Nigerian economy and financial market.

At the end of its July 2015 meeting, the MPC did not see any need for policy changes and consequently maintained all its key economic and monetary stance. The Monetary Policy Rate (MPR) and the Liquidity Ratio (LR) were retained at 13 per cent and 30 per cent respectively, and Cash Reserve Requirement (CRR) on public and private sector deposits at 31 per cent.

But economists at FSDH Merchant Bank Ltd said last weekend that the recent domestic and international economic and financial market developments have provided strong arguments for the MPC to change its policy stance in order to increase the level of liquidity in the financial market to support credit growth in the economy.

According to them ‘’the weak global economic recovery and the negative impact on oil price is a major external shock, and this calls for a monetary policy action to boost credit growth to develop the non-oil sector of the Nigerian economy’’.

In its expectations from the MPC meeting the FSDH economic research team reflected on the impact of the implementation of the Treasury Single Account (TSA) which they said has brought about liquidity tightness in the system, with about N1.2trn withdrawn from the banking system to the CBN. They added ‘’we expect credit creation to be adversely affected because of this policy if additional liquidity is not

C M Y K

Economists expect policy shifts as MPC meets today injected into the system. With an appropriate policy response from the CBN, the shortage in the system liquidity can be managed. ‘’In our view, the most cost effective policy response from the CBN is through the reduction in the CRR. A reduction in the CRR to 26.09 per cent will completely neutralise the impact of the TSA implementation on the FGN Deposits, while a reduction of CRR to 22.79 per cent will completely neutralise the impact of the implementation of TSA on all government deposits. Any reduction beyond what we mentioned here will inject more liquidity into the system than preTSA implementation’’.

FSDH Research further stated ‘’our projection shows that the inflation rate would increase to 9.7 per cent at the end of 2015 and above the CBN’s target range of 6-9 per cent. We do not expect the MPC to tweak the MPR to mitigate the negative inflationary outlook, as the drivers of the inflation rate are of transient in nature and outside the direct control of monetary policy. ‘’Moreover, there is a need for a proper and effective coordination of monetary, fiscal and structural policies to mitigate inflationary pressure’’.

FSDH, therefore concluded ‘’there is a need for policy that will develop the non-oil export and will reduce the country’s high oil export dependency’’ Reflecting on the aforementioned macro-economic developments along with the negative turn of fortune recently experienced in Nigeria’s financial markets following withdrawal of JP Morgan index for Nigeria, economists at Afrinvest Group, an investment house, stated ‘’we expect the MPC to deliberate on alternative methods to further strengthen foreign participation in the Nigerian capital market given its current stance on foreign exchange rate. We also expect the MPC to deliberate on how to improve currency market liquidity to reduce foreign

exchange rate uncertainty while assessing the current financial system liquidity in the light of 31 per cent CRR on deposits and the TSA implementation.

Given the stance of the Apex Bank (with backing from the presidency) on not considering a devaluation, we imagine that the MPC decision would favour one of the following possible scenarios; Reduce CRR to 27.0 per cent in order to repress the

strains of the TSA implementation on financial system liquidity and banking cost of funds; leave MPR and official exchange rate unchanged at 13.0 per cent and N197.00/US$1.00 respectively; Leave all policy rates unchanged and continue to use administrative measures to ensure financial stability within the economy. ‘’We place a higher weighting on the first scenario with a 70.0

per cent probability relative to the second scenario at a probability of 30.0 per cent. This is based on the CBN’s need to keep liquidity at a level just enough to ensure a functioning and stable money market without increasing pressure on the external sector variables, amid global financial market conundrum, falling oil prices and exchange rate volatility’’.

New bank cus s’ pr otection rule under way custtomer omers’ protection underw

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entral Bank of Nigeria (CBN) has begun a fresh move to protect bank customers from fraud and other unwholsome practices by their banks.

Rolling out the exposure draft rules last weekend the apex bank stated that despite the major achievements and the increasing consumer confidence, prevalent issues of undermining customer interests still remain in the banking industry.

Consequently, the apex bank stated there was the ‘’need to define a strong, effective and overarching regulatory/ supervisory consumer protection framework’’.

The aim, according to the apex bank is to ensure enhanced consumer and investor confidence in the financial services industry and ultimately promote financial stability, growth and innovation over the long term.

Other specific objectives of the framework are ‘’to protect consumers from fraud and sharp practices, enhance faster complaints handling and dispute resolution, enhance consumer risk management framework among financial services operators, empower consumers of financial services to make better decisions through education and outline the rights and responsibilities of consumers of financial service’’.

Under the envisaged rule CBN shall continue to develop mechanisms for consumer

protection risk-based supervision which will entail identifying and focusing on products and services that pose significant risk to consumers.

Banks under the new rule, shall be required to institute internal processes and procedures to ensure compliance with the consumer protection framework.

To foster transparency under this rule, banks shall periodically submit reports and publish information on their operations covering performance statistics, such as complaints statistics including value of refunds, current and planned initiatives amongst others.

The new will also force banks to adopt what the apex bank call ‘’responsible business conduct’’ where the rights of consumers should be a fundamental principle for operators of banking services within the financial services industry.

Accordingly the new rule would require financial operators to consider both pecuniary motives as well as ethical considerations in reaching business decisions.

Banks, according to the new rule, are required to assess the financial capabilities of consumers of financial products and services as well as confirm that products and services offered will address the needs of consumers.

In line with this requirement, the new rule will mandate banks to provide

consumers ample opportunity for enquiries and resolution on matters requiring their attention.

Key requirements under the responsible business conduct includes responsible lending where CBN would now ensure that banks establish structures to prohibit predatory lending and hence support a positive credit culture in the industry.

Also the apex bank would ensure that banks provide credit counselling to prevent consumers’ indebtedness due to limited financial knowledge.

Credit counselling is the process of educating consumers to prevent unnecessary debt and support in debt settlement.

Moreover, under the new consumer protection regime CBN shall set guidelines for ethical debt collection practices in the industry. These guidelines shall be based on dialogue, respect for the consumers’ privacy and longevity of consumer-operator relationships amongst others.

In the event that consumers fail to meet their financial obligations, financial operators shall be encouraged to adopt ethical debt recovery practices such as recovery processes must be courteous, fair and non-coercive.

Banks shall ensure that personnel assigned to recover debts are properly trained and the customer shall be informed in advance before a recovery process is initiated.

Vanguard, MONDAY, SEPTEMBER 21, 2015 — 39

Advertising & Promotions STORIES BY PRINCEWILL EKWUJURU

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side publishing an outdoor advertising journal, Billboard World's, Mrs. Maureen Umanah is also the chief executive of an outdoor advertising firm, Executive Options. In this interview she talks about the state of outdoor advertising business in Nigeria, the challenges of competing in a male-dominated industry and other sundry issues. Excerpts.

Assessing outdoor ad sector Honestly, I’m of the strong belief that the outdoor industry is growing at an astronomical rate. Interestingly, it is when you travel out that you will really notice that we are doing very well here. There is a significant improvement in the structures, in terms of what we see outdoors now. Our streetscapes are a lot better now. Of course you know five, six years ago there was that cleansing carried out by some states’ signage agencies, and I can tell you that this has changed the entire industry.

The truth is that everybody has come to see that we actually needed that type of environment to work in; because it also enhances our structures. Besides, we have very high tech boards springing up here and there everyday. I think the industry is really doing well.

Financial gain In terms of revenue it hasn’t really been good, especially when you consider happenings from the clients’ end, of late. For instance, corporate organisations are cutting down the budgets every year, and in such case, there is definitely no way we can begin to talk of enhanced revenue for practitioners. It is so bad that sometimes they call us in the middle of the year for meetings and renegotiations, where decisions to cut down an already agreed rate are taken. Sometimes, despite the fact that there is an existing contract, some clients still insist they want further discount, and sometimes you are left with no choice than to accede to some of these requests, not because they are good, but just because you want to survive. So that is what we have been experiencing, we have a lot of revenue cut in terms of overall budget and rates.

Expensive billboards We cannot really say that. In this market, we have a lot of factors militating against us especially when you are an entrepreneur. For instance, we don’t enjoy enough support from government. Most of the C M Y K

Policy articulation fight kept us in business —- Billboard World boss

•Mrs. Maureen Umanah time, the people that oversee the affairs of these government agencies don’t know anything about the business. That is why when they come on board they will just kill the business. We need people who have the knowledge of the business and the industry, people who know how payments are done, among other things.

Another reason why I’m saying we are not getting enough encouragement from government is that even after you have put up your structure there should be some form of waivers. For instance, if I’m paying you N4million on a board and I have not had business on that board for some period and you are insisting I should come and the N4million, you are not encouraging me to survive.

And I believe we are having this issue because those at the helm of affairs of these government agencies do not really understand the industry and how it works.

Government regulations/ revenue generation

You are right. That is the exact picture I’ve just painted, they are interested in environment which is good because we need a sustainable environment. They are also interested in revenue generation, but they are not really keen on creating an enabling environment in terms of business to help the practitioners grow.

Industry in danger It portends doom. But we are praying and craving that time will come when government will appoint practitioners that will genuinely want to work for the growth of the industry.

Policy articulation In all honesty the association has been fighting, and I can say that it is that fight that has kept some of us in operation.

Brand As King and Life of its own It’s just passion. It can be likened to a child that is trying to walk. The child will make attempts to walk and sometimes ends up hurting himself, but that does not still stop him from attempting? In anything you do

that is the kind of passion you need, nothing should stop you, there should be no obstacles.

Luckily, for me, I see challenges as what will rather promote me so if anyone is throwing challenges at me inwardly I feel very happy because I know I will need those challenges to get to where I’m going. Besides, I have a husband who has been very supportive, that is why you will always see him whenever we are holding the award, in spite of his very tight schedule.

The award has come to stay.

You know when you have a new idea you should expect attacks because people don’t know your intentions. But I stakeholders are gradually buying in. The last one we had in Accra, Ghana, was even attended by the then Secretary and President of OAAN. I think it is highly acceptable to the industry now because it has come to be understood that we are not really fighting the OAAN awards, we are just trying to get the industry working and viable.

We are also looking at other people we thought, needed commendation in the industry.

But you can see that OAAN Award has also grown. I was thrilled at the last one because it was such a beautiful environment. OAAN is like a father and you don’t want to see your father not well dressed and OAAN being our father we would like to see the association looking good. We really thank the excos and other members of OAAN for their acceptance because that is what we have yearned for all the while, for us to work as a team.

Innovative approach to digital technology will create real value — Airtel CEO “Innovative approach in leveraging technology will help create real value for critical stakeholders of an organization and others in the value chain,” says Airtel CEO. He also advised business leaders to be innovative and deliberate in their use of Technology, E-Commerce and Social Media.

These were the statement of Chief Executive Officer & Managing Director of Airtel Nigeria, Segun Ogunsanya, while speaking as a th discussant at the just ended 45 Annual Accountants’ Conference organized by the Institute of Chartered Accountants of Nigeria, ICAN in Abuja, Ogunsanya noted that an innovative approach in leveraging technology will help create real value for critical stakeholders of an organization and others in the value chain. According to him, Airtel Nigeria has pioneered this approach with the roll-out of its Catapult-a-Start-up programme, a unique initiative designed to empower

exceptional and innovative application developers in Nigeria. He noted that the programme has provided a good example of how a company can combine innovation with monetization, stating that Airtel, under the initiative, has empowered and transformed many lives with groundbreaking mobile application services.

According to Ogunsanya, these innovative digital platforms are helping to resolve many issues around diesel delivery, boosting students’ performance at important examinations, empowering job seekers, aiding e-commerce and cementing relationships, among others. Specifically, he listed mobile application services such as Yuzah, a real time delivery platform that allows the ordering of diesel in minutes; PassNG, an educational service that enables students prepare for important examinations and PushCV, a service equipped to prepare job seekers for opportunities.

NIMN to curb incompetence through exams

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he National Institute of Marketing Nigeria, NIMN says it’s going to instil professionalism into the institute through an aptitude test to be conducted for members of staff, as a way of curbing incompetency, as it lists 2015 activities.

The President /Chairman in council of the institute, Mr. Ganiyu Koledoye, disclosed in a session with Newsmen while rolling out its 2015 marketing week activities, said, “the institute is rooted on professionalism and that should be the bedrock, for this reason, we shall be organising an exam for members of staff to prone down the number of staff, for those who fail to measure up will be relieved of their position.

The president also said that as a result of the cash crunch rattling the institute, this has resulted in delay in activities of the institute,we have as well reduced the number of its departments to three from seven.

Indomie Fan Club begins ‘My super hero costume’ competition

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ndomie Fan Club, IFC, has commenced a competition tagged: ‘My Super Hero Costume Competition’ where kids stand a chance of winning a wide array of prizes.

To participate in the competition which kicked off recently, members of the Indomie Fan Club are required to design any of their favourite Indomitable characters using Indomie cartons and wrappers.

The ‘My Super Hero Costume competition allows children to send in multiple entriesbefore th the 30 of September 2015 end date of the competition. The competition is one of the many ways through which the Indomie brand engages with thousands of kids to provide them an opportunity to express their creative talents and abilities.

Speaking on the competition, Manager Public Relations/ Events, Dufil Prima Foods Plc, Mr. Tope Ashiwaju stated that the competition is one of the ways the brand engage children. He said, “Children are the future and as a brand, we see it as part of our responsibilities to ensure that they are engaged in activities that will aid their mental and physical development.

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40 — Vanguard, MONDAY, SEPTEMBER 21, 2015 Email:lesleba@lesleba.com, lesleba@gmail.com Blog page:www.lesleba.com/blog2 Website: www.lesleba.com Tel:0805 220 1997

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resident Mohamadu Buhari may have, so far, given the clearest preview of his blueprint for the revival and sustenance of inclusive growth of the Nigerian economy, in a recent interview with a French media house, in Paris. Buhari’s observation on the Nigerian currency was that “the naira has been devalued, as it used to be around N140/$ and now it is hovering around N200/$ and above”.

Consequently, the President cautioned that “I don’t think it is healthy for us to have the Naira further devalued”.

Furthermore, PMB explained that, “we are therefore getting the Central Bank to make modifications in terms of foreign exchange availability for essential industries, spare parts, essential raw materials and so on, while liberal access to “CBN’s depleting forex reserves” will be denied to importers of such things like toothpick and rice for which Nigeria has adequate capacity ”. The President therefore concluded that “we don’t need to give our hard earned currency for that, but those who insist on toothpick from Europe or from China, instead of using Nigerian toothpick, they can go and source their (own) foreign exchange”.

What is clearly evident from the above narrative, is Buhari’s firm endorsement of the CBN Governor ’s recent steps to reduce pressure of dollar demand on ‘CBN’s reserves’ and Naira exchange rate’.

Indeed, PMB’s historical antecedent suggests that he was never enamored by the usually extravagant promises that a weaker naira would jump start or successfully stimulate economic prosperity.

Indeed, Daily Independent Newspaper of 17/9/15 reported that Buhari had recalled at a Town Hall election campaign in

Buhari says no to Naira devaluation Abuja, that “he (Buhari) refused to remove subsidies on petrol and devalue the Naira when he was Head of State (1983-5), because it would destroy the economy”. PMB also revealed that “when we came into power in December 1983, we were approached by the world powers at some stage to devalue the Naira, remove petrol subsidy and remove subsidy on flour, but we refused”. According to Buhari, “the issue was that if we get plenty of Naira, what are we going to do with it? We (had) even stopped farming and the only thing we get money from was oil and that was being paid in dollars”.

In retrospect, however, soon after he was ousted from power, the IMF came calling with a Structural Adjustment Economic Plan which they boasted would chart our course to El Dorado! Regrettably, the succeeding regime of Ibrahim Babangida, ultimately, smuggled in SAP under the guise of a home grown variant which horrifyingly debased the Naira and kick-started the odious brain drain of some of our best human assets to Europe and America and inadvertently triggered the steady descent of our economy and our national values.

Ironically, PMB is back as President, thirty years later, when the Naira exchange rate has alarmingly climbed down from less than N1=$1 in 1985 to N200/$ today; curiously, however, appropriate pricing of Naira and fuel subsidy still remain pivotal issues. There is also, growing international pressure, once again, to further

devalue the Naira by between 15-20% i.e. to N230-240=$1, with the carrot of more portfolio investment inflow, despite their fickle disposition.

Nonetheless, President Buhari’s observations in the France 24 interview, may be an early reiteration of his position thirty years ago, that “devaluation would destroy the economy”.

Nevertheless, we need to ask, whether Buhari’s claim of the destructive capacity of devaluation can be substantiated. For this purpose, let us assume, for arithmetic ease, that the dollar appreciates 100% against the naira to exchange for N400=$, even if such rate of appreciation may deceptively appear presently, unrealistic; however, we must remember that the same dollar exchange rate appreciated from 50k=$ to N200=$ between 1975 and 2015, i.e. a 20,000 percent rise despite relatively

It is difficult to see how further Naira devaluation can be avoided if low crude oil prices deplete dollar inflow while indiscriminate naira liquidity conversely remain uncaged

imports.

Similarly, sustainable fiscal plans, will clearly become a challenge if dollar appreciates 100% against the current Naira rate; for example, although the annual budget size may nominally double, but such bloated budgets would barely command less than 50% of their former real values before devaluation.

Incidentally, if the dollar appreciates to N400=$1, our celebrated GDP of about $510bn with N155=$1 exchange rate, would clearly become embarrassingly devalued to just above $200bn.

Worse still, fuel price will also double beyond N200/litre (even with production from local refineries) if N400=$1, while such price hike will surely make the removal of subsidy very unpopular. Instructively, also, if fuel remains subsidized, we may need to dedicate over 20% of our annual budgets to payment of subsidy.

Evidently, from the preceding narrative, President Buhari’s phobia for Naira devaluation may be justified. However, it is difficult to see how further Naira devaluation can be avoided if low crude oil prices deplete dollar inflow while indiscriminate naira liquidity conversely remain uncaged.

The CBN’s recent notice of its intention to mop up over N800bn surplus naira values from the money market before December 2015, therefore, clearly portend potentially dark days for naira exchange rate. Furthermore, the threat from excess liquidity and inflation would similarly propel CBN’s borrowing of billions of Naira that it would simply store away as idle funds, despite the attendant oppressive interest rates of about 12-15% and the crying need of the real sector for cheap funds.

SAVE THE NAIRA! SAVE NIGERIANS!!

increasing surplus forex earnings!

In reality, N400=$1 exchange rate will reduce the current minimum wage to less than $50 per month! Thus, the minimum wage earner, may have to work 2X10 hour shifts in a 24 hour day to earn the income required to maintain his old consumption pattern before devaluation! Similarly, all other income earners, including savings, would also lose up to 50% of the value of their incomes; while, all equity in the stock market will be reduced by 50% of their current dollar value if the dollar appreciates to N400=$1.

Incidentally, the inflationary spiral which comes with weaker Naira exchange rates will also reduce consumer demand with adverse consequences on industrial capacity utilisation, fresh direct investment and the already oppressive rate of employment. For example, while the manufacturing sector contributed more than 10% to our gross domestic product in 1986 when the Naira was N2.02=$, regrettably, however, manufacturing barely contributes less than 5% to the GDP; with today’s exchange rate of N200=$1, thus by extrapolation, a N400=$1 exchange rate will inevitably also further weaken the contribution of the industrial subsector well below 5% of GDP. Furthermore, higher raw material costs will be induced by weaker Naira exchange rates and indisputably make “made in Nigeria” goods uncompetitive and therefore promote Nigeria as an inviting dumping ground for myriad

Business & Economy Dangote says concrete road are cheaper and durable

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hairman of Dangote Cement, Aliko Dangote over the weekend reiterated his plea to the Federal Government to urgently consider the use of concrete roads in the country.

In a chat with newsmen over the weekend, the African richest man said, it will be to the benefit of Nigerians and even the Federal Government to embrace the option of using concrete for roads in the country. Aside from being very cheap, he said concrete roads are more durable and that its maintenance cost is near zero. According to him: “We are pushing for Nigeria to do a concrete road. It is cheaper C M Y K

to do a concrete road that will last 50 years than to do a bitumen road. It will also help in eliminating corruption because if you go and build a bitumen road, it will have to be adequately maintained unlike a concrete road that is very durable.”

It would be recalled that the company has just expanded its frontiers to Asia, by constructing a 3 million metric tons per annum (mmtpa), Cement Plant in Nepal, as part of its new investment of $4.34 billion into 10 African countries. Currently in 15 African countries, excluding Kenya, Niger and

Mali, which are new projects.

The company’s current total capacity stands at 48mmtpa, out of which Nigeria alone has the largest chunk of 29.3mmtpa.

Dangote recently said: “We are not only building cement plants in Africa, we have gone far away to NEPAL to build a 3 million metric tons Cement Plant capacity and by the time all these our new projects are completed in the next two years, Dangote Cement will have more than 70 million capacity but we are not going to stop there, hopefully, by 2020, our targets is getting to somewhere around 100 million tons capacity.

Omoh Gabriel Babajide Komolafe Clara Nwachukwu Peter Egwuatu Yinka Kolawole Favour Nnabugwu Godwin Oritse Godfrey Bivbere Michael Eboh Franklin Alli Ifeyinwa Obi Rosemary Onuoha Nkiruka Nnorom CONTRIBUTORS Princewill Ekwujuru Jonah Nwokpoku Naomi Uzor Providence Obuh LAYOUT

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Group Business Editor Deputy Business Editor Energy Editor Asst. Business Editor Snr Bus. Correspondent Insurance Correspondent Maritime Correspondent Maritime Correspondent Energy Reporter Industry/Agric. Reporter Maritime Reporter Insurance Reporter Capital Market Reporter

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Vanguard, MONDAY, SEPTEMBER 21, 2015—41

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42 — Vanguard, MONDAY, SEPTEMBER 21, 2015

Vanguard, MONDAY, SEPTEMBER 21, 2015—43

44 — Vanguard, MONDAY, SEPTEMBER 21, 2015

Vanguard, MONDAY, SEPTEMBER 21, 2015—45 Send Opinions & Letters to: opinions1234@yahoo.com

Our brothers go, marching

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NE of the most traumatic days in my life was September 21, 2005. Exactly ten years today. A few weeks before, then President Olusegun Obasanjo had again decided to increase the price of petrol (PMS) In reaction, the Nigeria Labour Congress (NLC) decided to hold mass rallies and street marches in selected parts of the country to demonstrate the people’s opposition, and as a warning that the citizenry would resist such increase.

We took off with the rally in Lagos, the pro-democracy capital of the country.

There was a massive turn out. As we marched on Ikorodu Road, headed for the Alausa seat of the Lagos State Government, I met Tunji Oyeleru, my former colleague at the VANGUARD Newspapers who was covering the event.

Tunji, or Oloye (Chief) as some of us called him, was a quiet, humble and friendly person. He was also an outstanding photo journalist with a sense of professional commitment and a burning patriotism.

His photograph of the march, which was splashed on the newspaper’s front page the next day, was as expected, an awardwinning one. The sea of heads which Tunji might have taken from a bridge or storey building, must have sent the desired message to the Government. It was not surprising that Tunji went on to cover the rallies in Kano and Maiduguri.

Chima Ubani was an outstanding patriot with an uncommon commitment to the masses. He was then, the Executive Director of the Civil Liberties Organisation (CLO) and joint scribe of the Labour and Civil Society Coalition (LASCO) Chima, a former student leader, had played an outstanding role during the prodemocracy street battles that eventually saw General Ibrahim Badamosi Babangida, step aside from power, hopefully, forever. Chima was Secretary General of the Campaign for Democracy (CD) the umbrella coalition of groups that organised those protests against military dictatorship.

The first step was to get the NLC officials in Bornu and Yobe States to ensure the injured got the best medical treatment available and that the remains of our comrades were well preserved

Tribute to the ‘gentleman of Hardy House'

By Sam Ekpe

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HE celebration of a birthday is a unique event in one’s life.

It is a time for recollection of one’s past activities with a view to ensuring that the future is more rewarding, fruitful and pleasant. One such reflection will be done by Oba Donald Arinze Nwandu Oba II Traditional Prime Minister and later Regent of Enugwu Ukwu in Anambra State who clocks 70 today.

Born to the family of late Oba Daniel Arize Nwandu, a most successful businessman and politician who rose to become Mayor of Enugu the former Eastern Nigerian capital in 1965, and the late Chief Lady Sussanna Mgboyibo Nwandu, Oba Donald Nwandu is by all standards a successor of his very eminent father.

He was educated at Government School, Awka and the famous Methodist College Uzuakoli from where he passed his West African School Certificate in 1964. He thereafter proceeded to University Tutorial College London obtaining his General Certificate of Education, Advanced Level in Economics, British Constitution and Pure Mathematics. He was admitted into Bath University of Technology, UK to study Architecture but his studies were interrupted by the Nigerian Civil War. He however

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Oba Donald Nwandu continued his studies at Architectural Association School London,one of the best and oldest Schools of Architecture in Britain, through scholarship from British Education Authority from where he graduated in 1973. He did his postgraduate programme in Urban Development Economics with specialisation in Housing and Planning in Developing countries at DPU Bartley School of Architecture.

He was a foundation partner of the Concept Design Group, a multipurpose design group operating throughout Nigeria.

The group handled many notable projects including Enugu Master Plan (with Eko

He arrived Kano for the rally, and had called me to enquire about the venue. I told him, and he joined the march. The next rally was Maiduguri, and both Tunji and Chima, had been part of it.

On that September 21, 2005, at the NLC Secretariat, Abuja, we received a call that the NLC official car had been involved in an accident on the road to Potiskum. Then there was a follow up information, that two bodies laid dead. We made several phone calls trying to ascertain the identities of those involved in the accident.

Someone at the scene described a slim gentleman the then NLC President, Comrade Adams Oshiomhole, had held long conversations with earlier. He said he had the victim’s phone which he had switched off. I told him to use the phone to call me. He did, the name that appeared on my set was Chima Ubani! Shock, dead silence amongst comrades who had gathered at the General Secretary’s office.

I picked up my phone, called Chima’s number. The same voice answered me, confirming that the owner of the phone was one of the dead.

The second victim was said to be the AIT Photo journalist who had covered the rally. I placed a call to the then Managing Director of AIT, Ladi Lawal, an old friend and comrade. He confirmed the station had reporters at the scene of the accident, but that none of them was involved. The second victim remained a puzzle. I knew AIT would run with the story, so I asked Ladi when they were going to use it. He said almost immediately. I asked him for a favour; can he give me about five hours to enable the NLC reach and inform Chima’s family before AIT broke the new?

I explained I was in Abuja and would need somebody in Lagos to go through the usually heavy traffic to Chima’s home in Opebi. I knew it was a difficult request as some other media might get the news and broadcast. He said he would give me three hours.

With that, a race for time started. I needed somebody with stature,

Design of USA), design of the Master Plan for the Institute of Management and Technology (IMT) Enugu, Faculty of Biological Sciences, University of Nigeria, Nsukka, General Faculty Building of the same University in its Campus in association with Frank Mbanefo and Partners, Faculty of Law Enugu Campus of the same University, Master Plan and detailed design of TransEkulu Housing Project Enugu, Master Plan of Owerri, in conjunction with Finger Hault & Partners of Switzerland, Imo Comprehensive Health Schemeconstruction supervision and many others.

His Omni Environmental Services, another consultancy group with emphasis on Management Systems Development and Sustainable Low Impact Construction has also undertaken numerous projects all over the country.

They include Army Barracks Ikom, Waste Disposal Head Office in Ijora Lagos, Auditorium at Zaria for the Nigerian Civil Aviation Training Centre (NCAT) and Chapels for the Church of Jesus Christ of Latter Day Saints at New Haven and TransEkulu Enugu Similarly,

He believed that the best presidential ticket that would move Nigeria forward is an Alex Ekwueme/ Muhammadu Buhari ticket

experience and closeness with Chima who could go break the news to his family. The best person I could think of was Dr. Beko Ransome-Kuti, a father figure in the Prodemocracy Movement who had been CD President when Chima was its scribe. I knew he was sick, but there was little time.

I called him and asked when last he heard from Chima. He said some hours before. I switched off. Then called him again “Doki, I am afraid Chima has been involved in a motor accident on his way from Maiduguri” He asked how bad? I replied that he was injured and had been taken to the hospital. I promised to keep him updated, and hung up. I then called Mrs. Ngozi Iwere, a very brilliant political activist whose leadership in the 1980s, some of us had accepted. She agreed to go immediately to Dr. Ransome-Kuti’s house in Anthony and accompany him to see Chima’s family. I then called Doctor, told him Chima had died and that Mrs. Iwere was on the way to his house.

My being further quaked when we had confirmation on the second victim; Tunji Oyeleru! The first step was to get the NLC officials in Bornu and Yobe States to ensure the injured got the best medical treatment available and that the remains of our comrades were well preserved. Then they were to get coffins and ambulances to transfer the bodies to Abuja. In Abuja, all the mortuaries awere full, so we got our unions at the National Hospital to get us two places in the morgue by any means necessary. Mrs. Esther Ogunfowora of the Nurses and Midwives union was particularly helpful.

There followed a vigil; the convoy from Yobe was delayed near Keffi as armed robbers were operating on the road.

Eventually, we received our fallen heroes and made preparations to fly them to Lagos.

I was handed their travelling bags. I had the emotional duty of handing that of Chima to his younger brother, and Tunji’s with his camera and lenses, to VANGURD editors. Chima and Tunji are gone ten years, but the pain never ceases.

his Danstather Turnkey Contractors Ltd constructed a 500 2-bedroom Housing Units in Ajaokuta Street Township, opened by former President Shehu Shagari in 1981. He was given special commendation for being the first contractor to complete and handover his site.

He also established the over 900 Million Naira venture, the MKO Resource and Reparation Centre in Falomo, Lagos a multipurpose plaza comprising office blocks, bank, shopping and conference centre and exhibition halls.

A Fellow of the Nigerian Institute of Architects Oba Nwandu has represented the Institute in many conferences and seminars as the Chairman of the International Committee of the Institute and later as Board member of the African Union of Architects, the Commonwealth Association of Architects and International Union of Architects representing West Africa.

The Oba II of Eugwu Ukwa, Umunri Clan was the traditional Prime Minister of the town for many years under the leadership of the late Igwe Osita Agwuna III, Igwe Umunri na Eze Enugwu Ukwu. Following the traditional ruler’s demise eight years ago he became the Regent of Enugwu Ukwu a position he held with dignity until the processes of providing a new traditional ruler for the town HRH Sir Ralph Ekpeh were successfully concluded four years ago.

He is married to Chief Mrs. Uzo Nwandu a politician and member of the National Executive Committee (NEC) of the People Democratic Party (PDP). They have two children.

This writer, on being admitted into Class 1 in Methodist College Uzuakoli in 1964 met Oba Nwandu in his final year in the school. He, along with the late Dr. Dan Nwankwo the surgeon who died in the US some years ago were the only Enugwu Ukwu indigenes in the school. He was in Hardy House while I was in Williams House with Dr. Nwankwo serving as his plate washer. They since became my role models and mentors.

Donald Nwandu is a study in humility, muscular discipline, exemplary marriage and family leadership and above all commitment to friendship and noble ideals.

Since the inception of the Third Republic in 1999 he believed that the best presidential ticket that would move Nigeria forward is an Alex Ekwueme/ Muhammadu Buhari ticket.

‘The intellectual endowments of Ekwueme and the moral and fiscal discipline of Buhari would have long placed Nigeria where it should belong.’ He made this suggestion in writing to both personalities in the past but The Political Arithmetic; apology to late Dr. Chuba Okadigbo could not work out. Ekwueme is out of the equation now due to age but Buhari is in the saddle at present. Is discipline not gradually being restored to public service in Nigeria?

As the gentleman of Hardy House gracefully enters the 8th decade of his life on earth, it is our prayer and wish that the Almighty God continues to bless, guide and direct him. *Mr. Ekpe, a policy analyst, wrote from Abuja..

46—VANGUARD, MONDAY, SEPTEMBER 21, 2015

Corruption: Nigeria is returning to sacred cow era,

by Ndoma-Egba •Says Ndoma Egba has kept campaign promises ight years ate and in e gh n e S e th in rs, he was ader throu FOR 12 yea e served as senate le e. He dh e experienc rth v o ti ri e la p is e g th le f f o to fou enate for a arnered a lo which he g y to returning to the S wrong side of wa the was on his , he was on ly te a n u rt fo ome state ss Rivers h term but un ro P), C is h in lay c Party (PD p ti r e ra c w o o p m e e D ator th the Peoples rtunity. Anyhow, Sen in y ll ia c e p who po es eria, SAN, him the op ig d N ie f n o e d te a h c whic r Advo t of ba, a Senio e, is abreas c ti c ra p Ndoma Eg w eria as he d fully to la has returne political issues in Nig . uja law firm ry b ra A o p is h m t te a n r co te this encoun displayed in Excerpts:

By Levinus Nwabughiogu

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N why he did not return to the Senate in 2015 in spite of his legislative experience and exposure I think that the former governor of Cross River State, Senator Liyel Imoke is in the best position to explain what happened. I don’t know but the odds were stacked against me in the party.

Were you having issues with him?

You know what happened to the PDP? At some point, especially the state chapters, became personal properties of the governors and it was the governor’s will that prevailed.

There was nothing like internal democracy any more. It was what the governor willed or desired that he got.

Submission to the congresses Take my own situation for example, first you had congresses even though I had concerns about the panels and the way they were going to conduct the congresses, I submitted to the congresses and when the result came out I was comfortable with it.

In the party’s constitution, there is an appeal process, in pursuit of that process, the party in Abuja set up an appeal panel that waited in Calabar until its time elapsed. No appeal was filed against the outcome of the congress and I had to rush to court, secured a court order to protect the result of that congress.

The matter was still pending in court. The court order was still subsisting when 24 days later, in

total disregard of its own constitution, the party announced that the congresses had been cancelled without the appeal process being utilized or exhausted.

There was a similar situation in Enugu where the party brought out a political solution. In Cross River, the party just ignored its own constitution and embarked on the journey of impunity and illegality. I am a lawyer of 37 years and 11 of those years as a Senior Advocate, there is no way I would have participated in a subsequent congress when there was a court order pending.

Jurisdiction over the matter The court eventually ruled that there is no jurisdiction over the matter. There were two cases, similar facts before the same Judge. In one case, the Judge assumed jurisdiction. In the other case, he said there was no jurisdiction but I have put all of that behind me.

Was that the reason you left PDP? Like I said I became the sole issue of PDP in Cross River and I have said it again and again in the last three years I haven’t been invited to any meeting.

Two weeks ago, the state chairman gave an explanation.

He said, ‘yes it is true that I haven’t been invited to any meeting of the party in the state for three years but that is half of the story. The other reason is that I was keeping the company of certain people.

So, my friendship now determined my party membership. The whole thing is just ridiculous.

•Ndoma-Egba Now you have resigned your PDP membership, what next?

One step at a time and as you can see, I am back in my law firm but I needed to close a particular chapter and that has been done and I will move on.

His assessment of President Muhammadu Buhari so far They made their promises during the campaigns and we should hold them to those promises and assess them based on the campaign promises they made. What did they promise?

They promised that they were going to invigorate the fight against corruption. Has that been done? In my view yes! They also promised that they were going to fight insurgency and insecurity.

Has that been done? In my view, yes!

They also promised to fight the issue of unemployment. Has that been done? It will take some time but some very fundamental decisions have been taken that will have far reaching impact on our attitude and also have structural impact on the fight against corruption.

Take the Treasury Single Account TSA. For the first time in many years, the provision of the constitution has been complied with because all revenues of the federal government should go into an account and for the first time we are seeing that.

Structural impact I heard that there were about 20,000 accounts, which is strange. So, that has now been tackled in a fundamental way.

You will also have this feeling; it is a feeling that we are returning to those days when we didn’t have any sacred cow in the society and that nobody is above the law.

So against the promises they made during the elections even though it is early I think from the little that we have seen and the body language, it is so far, so

good.

Let’s take the issue of corruption. Recently, there was this feeling that President Muhammadu Buhari shouldn’t limit its probe to the immediate past government. Some people also were of the opinion that he should in fact, halt the probes.

Are you of that opinion too?

No. Because the fight against corruption is part of governance.

It is part of strengthening the institution of government, enthroning accountability and transparency especially in the public sphere and like they say ‘time doesn’t run against the state in criminal matters’. So, it doesn’t matter when it was committed.

that nobody has complained about the competence of those that he has appointed or their integrity.

Continues on page 47

Criminal matters You can’t go forward without interrogating the past and making people accountable for their deeds or misdeeds. It has to be part of the philosophy of governance. You can’t talk about accountability and you are talking of relief, forgiveness for people who committed fraud.

It appears there is a change of attitude among Nigerians. What could have lead to that?

I think the average Nigerian knows what is right. The average Nigerian is an honest person.

They know what is good for the society and they were just waiting for the leadership that will take them to that direction.

My reading of the situation, I might be wrong, is that President Buhari is by passing the former structures of power and connecting directly with the masses. So, it is the masses that are beginning to form his power base and my reading of the situation is that the masses are in agreement with this new drive for accountability and they are all part of it.

On controversies trailing the appointments made by the president.

First and foremost, let me say

My reading of the situation, I might be wrong, is that President Buhari is by passing the former structures of power and connecting directly with the masses

Vanguard, MONDAY, SEPTEMBER 21, 2015—47

e k o m I How y m d e t a r frust , e t a n e S return to gba E a m o d

by N

•Ndoma-Egba: Buhari is constitutionally bound to spread ministerial appointments

Continues from page 46 The only complaint is that geographically speaking, they appear to come from one side of the country. My simple answer is that the configuration of Nigeria is very complex and we can’t be simplistic in drawing conclusion. We can’t just base appointments on North/South. It will miss the configuration of Nigeria.

Now, in the North they have the major tribes; they have Fulanis but you also have a lot of minorities and you have tribes that are not minorities like the Nupes and the rest of them. But you also have Christians in this sea of Muslims just like in the South especially in the SouthWest. In the South-West you still have a sizeable Muslim population.

So if you just use the simplistic approach of North/South you will miss the aim of this configuration.

Now the minority in the North are they assuaged by this appointment? Yes they are!

The Chief of Staff is Borno and he is not Hausa/Fulani. The Secretary to the Government of the Federation is a minority Christian. For some, it might be convenient to say it is lopsided, for these minorities that have never been touched, they will applaud the appointments.

Applauding of appointments In any case, in the public service, these appointments run into several hundreds and so far I think less than 10 has been made. So, I think it is too early in the day to draw conclusion.

His advice to Buhari on ministerial and remaining appointments First of all, I think the president is bound by the constitutional provision in terms of federal character. I keep saying that no section of this country has a monopoly of competent people

and people of integrity. You can find them in any part of this country.

So, he will be bound by the principle of federal character that is bound in the constitution.

Secondly, under the constitution, he is obliged to appoint at least one minister from each state of the federation.

As for spread, he will have no choice than to spread accordingly because he has sworn to uphold and protect the constitution of the Federal Republic of Nigeria So, he is bound by that. What I suspect he will do is that in spite of the demands of the constitution, he will make his government as lean as possible and if you go back to his antecedent as military head of state, I had served as commissioner under that dispensation and I remember that no cabinet had more than nine commissioners, no state; it was between seven and nine and there were only 19 states in the federation at that time.

Systematic manner Today, I don’t know of any state that has less than 20 commissioners but he made do with seven maximum nine in his first outing as military head of state. The entire executive council of Old Akwa Ibom state is now less than the aides of a commissioner. So, I see him going back to the days of lean. I see him also in a very structural and systemic manner cutting down the cost of governance.

I remember then as a commissioner you were entitled to one personal aide and he was drawn from the public service, so there was no additional cost.

Now, we see public officers moving with an entourage, I think that is going to be minimized.

PDP’s prediction of 60 years rule was cut short at 16. What were the mistakes?

What happened in PDP was just impunity and like I said the governors became the owners of the party in the state and it was their will that reigned and because it was their will, arrogance also set in. The lesson is that arrogance and impunity can’t sustain anywhere in any party.

His experience at the Senate: The National Assembly in Nigeria is still evolving and you must situate its performance against its historical position in our post colonial history. We had very many years of military rule with episodes of democracy. In those long years of military rule, the National Assembly didn’t exist because it is inconsistent with totalitarism. So the first thing the military did each time they struck and they struck quite often was to dissolve the National Assembly.

I think in all, we had 29 or 30 years of military rule after our independence. So we had people who were 29 or 30 years who had never experienced democracy and life went on, which meant that they could live without the National Assembly.

So the fact that they could live without the National Assembly has also cultured the public perception of the institution. It has become the scapegoat of everything that has gone wrong.

Secondly its growth has been episodic; it hasn’t been continuous like you have in the executive or the judiciary.

Episodic development For the few years we have democracy you have a National Assembly. Then the military comes in and the National Assembly is abrogated. When democracy returns, the National Assembly starts again from the scratch. So development has been more or less a staccato, on and off.

So, we have to contend with

this hostile view of an institution that ironically symbolizes our democracy at the same time because if you remove the National Assembly you don’t have a democracy.

You also have to contend with these episodic development that hasn’t given it the opportunity to develop capacity and then to compound matters, there is this very high attrition with the National Assembly. Each time you have an election, far less people return.

We pride ourselves that our democracy is fashioned after the United States but in the United States if four senators lose their seats in an election, it is considered an upset but here, in just 16 years of our democracy you have only one senator with 16 years experience and that is Senator David Mark whereas in the United States you have so many with 30, 40, 50 years experience. When we assess our National Assembly, it has to be against this background of historical realities.

which means four years from when you were inaugurated you stand dissolved. Now if you did elementary chemistry when you dissolve something, nothing survives. So, when you dissolve an institution everything dies with it.

Historical realities Back to your question, I feel fulfilled that I was part of the Senate in its most stable years. I was there for 12 years and eight of those 12 years I was in leadership and in those eight years, there was no scandal and there was stability.

For the first time, a Senate president was re-elected and he served out two terms. He was reelected with his deputy who served two terms with him. The deputy senate leader became Senate leader in his second term.

So, you can see stability. So for me, I am thankful to God that I was part of the institution in its most stable era and perhaps most glorious.

Looking back, are there some legislations that you would have loved to push that were inconclusive during your time?

Yes, several. I can’t begin to single them out but I think that we must address the issue of lapsed legislations in a fundamental manner. Why do we have so many bills that are not passed? The answer is simple; the constitution under Section 62 if I remember clearly says each house of the National Assembly stands dissolved on the fourth anniversary of its inauguration

My simple answer is that the configuration of Nigeria is very complex and we can’t be simplistic in drawing conclusion. We can’t just base appointments on North/South. It will miss the configuration of Nigeria

48 — Vanguard, MONDAY, SEPTEMBER 21, 2015

NCAA grounds two aircraft over illegal flights

TRAFFIC LAW: Lagos warns okada riders, street traders

By Olasunkanmi Akoni

By Lawani Mikairu

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AGOS—THE Nigerian Civil Aviation Authority, NCAA, yesterday said it has grounded two foreign registered aircraft with immediate effect for falsified flight clearance information and conducting illegal domestic flight operations in Nigeria.

According to Mr Sam Aduroboye, Acting General Manager, Public Relations, NCAA, the grounded aircraft are Bombardier 700-100 with registration marks G-RBEN Global express S/N 9083 operated by Gama Aviation, United (UK) Limited and Embraer 135 J with registration marks XA-MHA. Aduroboye said “The operator of G-RBEN aircraft were found operating in Nigeria’s airspace with falsified flight clearance information and conducting illegal domestic flight operations in Nigeria.”

“Other infractions are conducting illegal commercial revenue flight operations contrary to conditions contained in Nig. Civil Aviation Regulations (NCARs) Part 10 and security violations.”

He further said “Preliminary investigations revealed that the Embraer 135BJ registration marks XAMHA was reported to have landed at the Nnamdi Azikiwe International Airport, Abuja, from London, Farnborough without any flight clearance on the 10th of September, 2015.

“Reports from the Air Traffic Controllers, ATC, indicated that the crew informed them that they possess a ministerial approval for the flight. However, on landing; the crew could not produce any ministerial approval as claimed.”

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AGOS—THE Lagos State Government in its effort to implement Section 3 of the Lagos State Road Traffic Law 2012 has issued a warning to commercial motorcycle operators, popularly called

okada riders on all restricted routes and street traders to comply with the law or risk prosecution.

The Chairman of the Lagos State Task Force, Olubukola Abe, a Superintendent of Police, who disclosed this yesterday said out of 9,100

roads in the state, motorcycle operators were restricted to only 475 roads, which exclude highways and bridges according to the law.

He said that enforcement will be intensified, assuring that they will not relent in their efforts to restore sanity on roads while curbing the excesses of okada riders and street traders.

Abe said since he assumed office as the Chairman of the

Task Force, over 1,000 motorcycle have been impounded, with their riders prosecuted, including street traders/hawkers whose wares were confiscated by the courts of law.

He however appeal to his officers and other law enforcement agents to carry out their duties diligently while enforcing the Law.

Gov promises selfless service

VISIT: Governor Akinwunmi Ambode of Lagos State (2nd right), discussing with the Perm Sec, Office of Establishment & Training, Mrs. Ogunmola Omobolanle; member of the Hubert Humphrey Fellowship Alumni Association, Nigeria, Dr. Osita Okonkwo, and the General Secretary, Hubert Humphrey Fellowship Program Alumni Association, Mr. Onyema Okoroh, during a courtesy visit to the Governor by Association, at the Lagos House, Ikeja.

Meantime, Governor Akinwunmi Ambode at the weekend said his administration is committed to deliver selfless service and positive difference in the next four years.

The Governor, who spoke when members of the Hubert H. Humphrey Alumni Association and Representatives of the Public Affairs Section of the US Consulate General, Lagos, paid him a courtesy visit at the Lagos House, Ikeja assured that his administration is set to impact positively on the lives of the people of the state.

Ambode, who is also an alumnus of the Association, said he has benefited from the Fellowship programme in many ways, which he has resolved to bring to bear in the course of his administration.

Woman, 91, others to picket Ambode’s office today

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AGOS—A 91-year-old woman, Madam Roseline Ololo has notified the Lagos State police command of her intention to picket the office of the state governor, Akinwunmi Ambode

alongside members of the civil society movement over the refusal of government to return Metropolitan College and Isolo Secondary School to her as agreed.

Madam Ololo, who with her late Lagos State Government House husband, Chief Michael Ololo and environs on Monday, 21st established the schools through of September, 2015.'' their company, Akaix West Africa Limited in 1955 with the first batch of 19 students in Surulere area of Lagos, stated this in two separate letters to the governor and the police through her lawyer, Malcolm Omirhobo.

According to the letters, copies of which were made available to AGOS—VANGUARD crime reporter of the year and reporters, Omirhobo said he had no OUNDER and President newspaper shone at the Kehinde Ajose, entertainment choice than to embark on another of the Oodua People’s peaceful protest starting from today Congress, OPC, Dr. Frederick 9th Media Nite Out Awards reporter of the year. held in Lagos yesterday with The award ceremony owing to the failure of the state Fasehun, clocks 80 years old today. reporters from the media house graced by high flyers in the government to honour its Governors Segun Mimiko of winning three awards. political class and the clergy agreement to return the schools.

Ondo State and Akinwunmi In the letter to Ambode, Omirhobo Ambode of Lagos State have been Emmanuel Aziken, the was backed by LondonPolitical Editor emerged writer based Ben Television, stated that: “As a result of the lined up as chief host and host of the year, politics; Assistant among other stakeholders in foregoing, our client is embarking governor respectively to lead on a massive rally/protest at the activities scheduled to celebrate the Crime Editor, Evelyn Usman, the media industry. octogenarian.

Royal fathers of the day will be the Oba of Lagos, Oba Rilwan Akiolu, and the Osemawe of

By Olasunkanmi Akoni challenges of the state and indeed Ondo, Oba Victor Adesimbo Nigeria, saying that “A country that Ademefun Kiladejo, Jilo III. AGOS State government has cannot feed itself is in absolute terms Events for the celebration kick off said it is set to scale up its food insecure.” today with a communion/ self-sufficiency from the present 10 He restated government's thanksgiving service at Saint percent to about 25 percent by 2018. commitment towards assisting and Peter’s Anglican Church, Ajele The Permanent Secretary, Ministry of supporting anybody who fully engages Street, Faji, Lagos Island.

Agriculture, Dr. Olajide Basorun stated in rice farming, not as part time but as Tuesday and Wednesday will this at the opening of 2015 Lagos Rice a strategic and profitable venture. see Fasehun leading a team of Fair, at the weekend, organized by Basorun stated that the fair will no medical personnel to conduct Growth and Employment in the States doubt increase awareness about medical examinations and (GEMS) in Agidingbi, Ikeja.

Nigeria rice brands in the market healthcare counselling for Basorun however, called for potential adding also that the fair would inmates of Ikoyi and Kirikiri investors in the rice value chain to afford major rice dealers, prisons, places where the support in the determination of the state distributors and consumers the celebrant underwent detention government to meet the agricultural opportunity to interact and network. over his political activities.

Vanguard wins Political, Crime, Entertainment writers’ awards

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Fasehun, OPC founder clocks 80 today

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Lagos targets 25% agric production

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Vanguard, MONDAY, SEPTEMBER 21, 2015 — 49

Why Osun wage bill rose from N1.7bn to N3.6bn – PDP PDP is mischievous — APC

By Gbenga Olarinoye

O

the state just as we urge him to make public its financial records of allocations, IGR and expenditures if truly his administration is for the people of Osun.

The party said the warning became necessary in view of the “cameo announcement of austerity measures that will come inform of property taxes, increased tenement rates and income tax, TV license all of which were contained in the recommendation of a Lagos.

Osun APC terms PDP mischievous

Criticism against Governor Aregbesola borders on hatred of its person, laced with envy over his achievements before the financial crisis set in. ‘’But above all, PDP appears not to have recovered from the loss it suffered in August 2014, at the governorship election and the pain is reflected in its statements against the person and government of Aregbesola since then and the instrument the party uses for its criticism is pure fabrication and outright lies.’’

SOGBO—OSUN State Meantime, the All Peoples chapter of the Peoples Congress, APC, in Osun state Democratic Party, PDP, has condemned the Peoples yesterday said the Osun workers Democratic Party, PDP, for saying wage bill increased to N3.6 that the financial crisis in Osun billion in Jan 2015 as against the was as a result of government N1.7 billion in December last year reckless spending, but it fails to because many fictitious names of tell us why there was financial Lagos-based supporters of crisis in the other states.

Governor Rauf Aregesola were ‘’Did the other states, which added to genuine workers' list in also owed workers’ salaries, the state and have since been spend recklessly too? receiving salaries.

In a press statement issued yesterday in Osogbo by Prince Diran Odeyemi, the party ’s Director of Media and Strategy, said.”

The statement read in part: “Rather than debunk this accusation with rhetorics we challenge the state government to publish unedited the report of the recently concluded screening exercise it conducted.

“We have it on good authority that over N1billion was being paid to many Lagos based individuals who have no job in Osun but added to the list of genuine workers which eventually pushed the wage bill from N1.7 billion to N3.6 billion” “Now that the wage bill has come down to N2.6 billion CRUSADE: General Superintendent of Deeper Christian Life Ministry (DCLM), Pastor William F. monthly, we want to caution Kumuyi, with Lagos State Moderator of DLBC, Pastor Joseph Fasanmi (right) arriving at the ongoing governor Aregbesola against Lagos city-wide crusade organized by DCLM in conjunction with Christian Association of Nigeria, introducing schools fees, strange (CAN) and Pentecostal Fellowship of Nigerian (PFN) in Ilasan, Lekki-Epe Expressway, Lagos. taxes and levies on the people of

Sacked Ondo monarch appeals judgement

By Dayo Johnson

A

KURE—THE sacked monarch of Igbindo Community in Ondo West council area of Ondo State, Oba Olaniyi Ogundoju has filed an appeal to challenge the judgment which ousted him.

He was asked to vacate the stool of the Akinnuwa of Igbindo two weeks after his installation.

Ogundoju, who is from Ogbowo Okun Ruling House was dragged to court

by some princes from the same ruling house, led by Adetutu Fashole and Okunade Fashole on the ground that he was not eligible to the throne.

They alleged that the monarch hails from the female lineage of the Ogbowo Okun Ruling House hence is not entitled to the throne.

Justice Olabode Adegbehingbe of the state high court had ruled that only sons from the male lineage could be made monarch.

He said that “Ogundoju is not eligible to contest and ascend the vacant stool of the Akinnuwa of Igbindo from the Ogbowo Ruling House, whose turn it is to fill the vacant stool, having hailed from the female line of the ruling house.”

But Ogundoju in an appeal filed by his lawyer Kunle Adetowubo, urged the Appellate court to set aside the lower court judgment and return him to the throne.

In the eight grounds of appeals, his counsel said

Zone 8 AIG canvasses ‘community policing’

By Rotimi Olaleye

A

DO-EKITI—THE Assistant Inspector General, Zone 8, Mr Lawal Tanko has called on Ekiti state governor, Ayodele Fayose, to participate in mobilising the people to take security issue serious by participating in the security of their community.

The Zone 8 police Chief, who made the statement while on a courtesy visit to governor said the police C M Y K

had encouraged its men to move nearer to the people.

He urged the people to join hands in fighting the current wave of insecurity, be it kidnapping, cultism by student as well as other heinous crimes in various communities.

Fayose commended the Inspector-General of Police, Mr Solomon Arase, for restoring professionalism to the Nigeria Police, saying Arase has been able to do this by separating politics

from policing.

A statement yesterday by the governor’s Chief Press Secretary, Idowu Adelusi, quoted the governor as saying that his administration would give maximum support to the police for the maintenance of peace and order in the state.

Fayose described the IGP Arase as a son of the soil and commended him for standing up for Ekiti during her trying period.

the trial court ignored testimonies of the witnesses presented by his client to establish the fact that children from the female line of Otutubiosun ruling house reigned as kings of community at different time.

He added that the lower court also failed to appreciate the testimonies of appellants witnesses both written and oral which substantially complied with the provisions of section 18(1) of the evidence act 2011 as amended.

The counsel said that: “The court failed to establish the fact that members of the Ogbowo Okun Ruling House properly concluded the nomination of Ogundoju as the traditional ruler of the town.

“It is not the law, custom and tradition of the Igbindo people that only male from the ruling houses are qualified to aspire, be nominated, as Akinnuwa of Igbindo.

“We want the court to establish this that the appointment of Ogundoju as the Oba of Igbindo was approved by the entire members of Ogbowo

Okun houses including those who took him to court and the kingmakers.”

The Appellate Court his yet to fix a date for the hearing on the case.

FUTA students depart for US

By Oboh Agbonkhese

S

TUDENTS of the Federal University of Technology, Akure, FUTA, has left for Florida Agricultural and Mechanical University, FAMU, Tallahassee, United States of America, as part of the ongoing collaboration between both institutions.

The students, who are the third set benefiting from the programme, are A d e g b u l u g b e Olugboyega, Abioye Festus, Titiloye Gbemileke, Adebisi Elijah (all of Civil Engineering); Egboh Joseph (Metallurgical and Materials Engineering); Ojo Peter (Electrical and E l e c t r o n i c s Engineering) and Ojo Elizabeth (Agricultural and Resource Economics).

Five more students will join them for the January 2016 resumption window.

Also, two alumni of the university are already at FAMU for their Masters and Doctorate programmes, respectively.

FUTA’s ViceChancellor, Professor Adebiyi Daramola, who described the collaboration as part of the internationalization efforts of the university at a pre-departure send forth programme, urged the students to sustain the excellence set by their predecessors.

50—Vanguard, MONDAY, SEPTEMBER 21, 2015

Buhari's emergence divine —Lagos cleric

By Glory Ekwenuya

A

LAGOS cleric, Pastor Solomon Oziegbe, has lauded the emergence of President Muhammadu Buhari, stressing that it was divinely orchestrated to restore the nation to her position in the comity of nations.

Speaking to newsmen in Lagos, weekend, Pastor Oziegbe, the General Overseer of Christ Family International Christian Centre, said that President Buhari’s policies, especially his anti-corruption crusade, was bound to bring a total change to the nation.

Oziegbe said: “Buhari’s policies are ordained by God. Nigerians should be patient with him. God brought him to change Nigeria and bring the country to where she should be. God would manifest Himself during the current administration as He has a purpose for instigating the change mantra of the All Progressives Congress, APC, being implemented by the President.

Seven excommunicated over alleged abuse of tradition

By Tare Youdeowei

T

HE PEOPLE of Ezemese community of Ibusa in Oshimili-North Local Government Area have excommunicated seven members of the community found guilty of unrepentant and continued abuse of tradition and custom of Ibusa.

The excommunication was contained in a release signed by the eldest Diokpa of the community and Umuekea quarter, Isinka Pius Nwanze; Ojiso F.K Oweleke (Diokpa of Umuezeagwu), Onowu S. Ofuokwu, (Diopka of Ogbeowele); Sir Augustine Ajufo (Diokpa of Umuehea) and Chief P.J Okonicha (Iyase of Ibusa).

The seven were said to have paraded someone as the Iyase of Ibusa as against the current and government-gazetted Iyase, Chief P. Okonicha.

The statement implored the public to be weary of the excommunicated members, and their off-springs, as they have lost all rights due to sons or daughters of the community C M Y K

Abia NSCDC prosecutes 14 pipeline vandals, parades another 4

By Anayo Okoli

U

MUAHIA—ABIA State Command of the Nigerian Security and Civil Defence Corps, NSCDC, is currently prosecuting 14 suspected pipeline vandals arrested by the command.

The state Commander of the Corps, Benito Eze disclosed, weekend, while parading four

other arrested suspects before newsmen. He said they would also be arraigned after investigations had been concluded.

The suspects paraded included Peter Ugochukwu (28), Uzoma Anyim (48), Winner Onwuegbu (28) and Udoka Nwokorie (27). They were arrested in Osisioma area of the state.

Eze expressed worry over the

increasing spate of pipeline vandalisation in the state since the Port Harcourt Refinery resumed pumping of petroleum products to Aba and Enugu depots. ‘’Between the second week of August to date, no fewer than 18 suspected vandals have been arrested by the command along Osisioma area,” the Commander said, explaining that the vandals usually perforate

MEMBERS' EVENING: From left, Ubong Nseobot, Sales/PR Manager, Southern Sun Ikoyi; Akin Olawore, Deputy President; Joy Okwuadigbo, Chairperson, Learning, Education and Training Committee; Alan Davies, Vice President, and Joyce Akpata, Director General, all of Nigerian-British Chamber of Commerce, at the Nigerian-British Chamber of Commerce 3rd Members' Evening 2015 sponsored by Southern Sun Ikoyi. Photo: Akeem Salau

the pipelines where they fix nuzzles with which they siphon the products into containers.

According to Eze, more than six trucks and different sizes of jerry cans, eight cars and buses, were also confiscated during the period under reference.

The NSCDC Commander warned oil marketers in the state against patronizing pipeline vandals, pointing out that the command was still on the trail of those that patronize them.

One of the four suspects, Nwokorie, said to be from Umudiawa-Ofeiyi-Ohuhu in Umuahia North Local Government Area, who also claimed to be a student of Ebonyi State University, said that he was arrested when he came home to see his ailing parents.

According to him, the two 50liter jerry-cans of petroleum products found in his house by the security men were purchased from people who scooped the product from burst pipeline in the area.

He claimed that a pipeline that passes through the community got burst and spilled petroleum products on the Imo River and its bank, saying that some youths of the area saw the development as an opportunity and scooped the products for sale.

Unilag accuses unions of breach of peace on campus HE Management of the based on the agreed template. 25, 2015, a 7-days ultimatum sented to either Management T University of Lagos has The statement also explained was given to the university to or the body which set up the accused the leadership of the that “pension is normally de- pay and implement the Earned Committee for review”, adding Non- Academic Staff Union of Educational and Associated Institutions (NASU) and the Senior Staff Association of Nigeria Universities (SSANU) of deliberate falsehood and misinformation on some of the issues affecting the academic community. The issues according to a statement issued by the Registrar and Secretary to Governing Council of the University of Lagos, Dr. (Mrs.) Taiwo Folasade Ipaye are earned allowances, pension deduction, and 13th month salary.

On earned allowances, the university said following series of negotiations the Federal Government in 2013 released funds for the first tranche to all the universities for the partial implementation of the allowances that are to be earned by each cadre of personnel which was subsequently disbursed at the University of Lagos, by a committee comprising members of all the four Unions,

ducted from all Federal Government workers salaries at source and the amount deducted reflected on payslips for individuals’ records while no deduction is effected in Unilag in respect of the Contributory pension other than the one deducted at source by the Office of the Accountant General of the Federation (OAGF) in Abuja before salary grant is released.

On the 13th month salary, it said request for the provision of a 13th month salary should be directed to the Government as it was not provided for by the Federal Government in the personnel emolument disbursed to the University.

The university therefore expressed dismay that despite the report of the committee set up to resolve the issues following a meeting between the Joint Action Committee (JAC) of the four Unions in the University and Management held on June

Allowances as recommended and signed by Joint Action Committee on Revenue.”

According to the statement, “the ultimatum did not take into consideration the fact that the report was yet to be pre-

Ebonyi police parade suspected Abia State and Emeka Samkidnappers son, an Okada rider whose

By Peter Okutu

A

BAKALIKI—EBONYI State police command, weekend, paraded three persons suspected to have kidnapped Afikpo Zonal Manager of the Nigerian Breweries Limited, Kehinde Baruwa.

The victim was kidnapped at the entrance to his street, off Ndibe Beach road in Afikpo North Local Government Area.

The suspects include: Gabriel Ibiam Otta from Afikpo, Tochukwu Okezie from Ubakala

Obiano slams critics, calls them enemies of progress

By Bisola Ologunde

G

OVERNOR WILLIE Obiano of Anambra State has described as enemies of progress, critics who accused him of under-utilising the state’s resources.

Speaking through his Senior Special Adviser on Youth

Mobilization, Tony Ezekwelu, Obiano said those comparing olden days economy with today’s lacked understanding of economic situation in present day Nigeria and the global economic meltdown. He stated that his critics, led by Nadis Ezewuzie, were simply dancing to the tune of their paymasters, who would never see

that “it is quite worrisome that their leaders have resorted to misinforming their members as well as going on air with misinformation and blackmail all in their bid to arm-twist the Management”.

anything good in his administration.

He, however, said they could not claim ignorance of the massive development and accountability in governance that had never been seen in the state, despite insufficient revenue allocation to Anambra when compared to other states.

motorcycle was used to perpetrate the heinous crime.

Vanguard learned that one of the suspects, who went to collect ransom for the release of the victim, was killed by the police and the money recovered. Briefing newsmen at the Command’s headquarters in Abakaliki, the Commissioner of Police, CP Peace Abdalah said the suspects had demanded N50million ransom from Baruwa’s wife for the release of the victim which they later reduced to N300,000 during negotiation.

According to her, at the point of collection of the ransom from the victim’s family around Afikpo Government Secondary School, the antikidnap team of the state Police Command arrested two members of the gang.

“The suspects volunteered vital information to the police which led to the successful rescue of the victim that was being held captive at Ubakala in Umuahia, Abia State.

Vanguard, MONDAY, SEPTEMBER 21 , 2015—51

NCAA grounds 2 foreign registered aircraft over falsified flight clearance L

By Lawani Mikairu & Daniel Eteghe

AGOS—THE Nigerian Civil Aviation Authority, NCAA, yesterday grounded two foreign registered aircraft, a Bombardier 700-100, marked G-RBEN Global express S/N 9083 and an Embraer 135 J with Registration No, XA-MHA, for operating in the country’s airspace with falsified flight clearance information.

Disclosing this development to newsmen, Acting General Manager, Public Relations, of the regulatory agency, Mr. Sam Adurogboye, affirmed that the agency grounded the two aircraft with immediate effect.

Mr. Adurogboye pointed out that the operator of G-RBEN aircraft, Gama Aviation, United (UK) Limited, was found operating in Nigeria’s airspace with falsified flight clearance information and conducting illegal domestic flight operations in the country.

He also stressed that the offence of the operator in the case of the Embraer 135BJ with Registration marks XA-MHA was that it operated the aircraft from Farnborough, London, and landed at the Nnamdi Azikiwe International Airport, Abuja, on September 10, 2015, without any

flight clearance from NCAA. Adurogboye said: “Other infractions are conducting illegal commercial revenue flight operations, contrary to conditions contained in Nigeria Civil Aviation Regulations, NCAR's, Part 10 and security violations.

“Reports from the Air Traffic Controllers, ATC, indicated that the crew informed them that they possessed a ministerial approval for the flight. However, on landing, the crew could not

produce any ministerial approval as claimed.”

Mr. Adurogboye noted that the Bombardier 700-100 had a United Kingdom Air Operators Certificate, AOC, and had been carrying out several domestic operations between Abuja and Lagos without the authority’s permit/certification in accordance with Nigerian CARs Part 10.

He said the two aircraft would remain grounded while further investigation by the regulatory

authority on the issue continued, adding that the aircraft country registry in UK CAA and Mexican Civil Aviation Authority, MCAA, would be notified appropriately.

“The Legal and Enforcement department of the Nigerian Civil Aviation Authority, NCAA, will after the conclusion of the investigation, proffer appropriate sanctions and enforcement procedure according to the Nigerian Civil Aviation Regulations,Nig.CARs,”heaffirmed.

50 NAIRA PER LITRE KERO: Long queue of jerry cans as people wait to buy kerosene at Forte Oil filling Station on Oba Akinjobi road, Ikeja, Lagos, yesterday. Photo: Joe Akintola, Photo Editor.

Why we're probing ex-Gov Suswam's administration,

by Benue govt

M

By Peter Duru

A K U R D I — SECRETARY to the Benue State Government, SSG, Targema Takema, weekend, disclosed that the present administration in the state instituted a probe of the immediate past government of former Governor Gabriel Suswam in order to instill the tenets of probity, transparency and accountability in governance.

He stated that Governor Samuel Ortom’s government should also be subjected to probe for any wrong doing at the end of the tenure of the administration.

The SSG, who spoke at the burial ceremony of the mother of the chairman, All Progressives Congress, APC, Gboko Local Government, Mr. Tarnongu Mnyam Bam, insisted that the process was not a witch hunt.

He said: “What we are doing is not a witch hunt, that is why no amount of blackmail, negotiation or diversionary tactics can derail the focus of the present administration to use the just constituted probe panels to effectively assertain what was misappropriated by that administration.’’

He accused former Governor Suswam of allegedly selling Benue State shares in Julius

Berger Plc for the cost of over N8 billion without proper records of where the proceeds were invested or what it was used for.

“It is the resolve of the present administration to ensure that

every kobo misappropriated in the state is returned and by so doing, the government of Samuel Ortom will be showing the people the path of probity, transparency and accountability.”

ATTACKS BY HERDSMEN:

on security

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By Luka Binniyat

ADUNA—THE Middle Belt yesterday said that relentless attacks on its communities by alleged armed Fulani herdsmen over the years have shown that the Federal Government had recorded little success in solving the problem.

It then asked that the command headquarters of Plateau State Joint Task Force, JTF, be moved to Barkin Ladi town, where daily raids on villages in the local

“So, should the government or any player within it be found wanting now or at the end of their service, the relevant agencies of government should not hesitate to met out justice,’’ he said.

Middle Belt faults FG

government area had worsen in the past two months.

The Middle Belt also insisted that 2014 National Conference report be made into law, while asking that religion and tribe be included in the next census registration.

This was contained in a communiqué issued by the Association of Middle Belt Ethnic Nationality, ASOMBEN, in Kaduna yesterday.

The communiqué, signed by its chairman, Rev. James Pam and secretary, Emmanuel Yavala, said: “ASOMBEN is an umbrella body

of several Middle Belt organisations that share similar aims and objectives which is the protection of the rights, cultures and values of Christians and the Muslim minorities of the Middle Belt.

“Wehaveobservedwithdismaythat the attacks on our communities by suspected armed Fulani men especially in Taraba, Plateau, Benue, Southern Kaduna and Nasarawa states with the Federal Government, FG, doing nothing to stop them, except sent in the JTF after each attack."

Salvation Army tasks Buhari on care for less privileged

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By Etop Ekanem

AGOS—THE Territorial Commander of the Salvation Army, Nigeria Territory, Colonel Victor Leslie, has urged President Muhammadu Buhari to partner with organisations as his to provide employment for the youths and care for the needy Leslie, who spoke in Lagos during a briefing to announce the national appeal week fund-

raising project scheduled to begin from October 1-7, 2015, said the youths should be empowered to discourage them from engaging in criminal activities, saying an idle hand was the devil’s workshop.

On the national appeal week fund-raising project, Leslie said: “One of the ways we have adopted for some years now to raise funds for our charitable work is to approach the public at their places

of work, homes, streets, market places etc. The method is pursued as a way to solicit for funds, tagged ‘Join us to help others.

“In the first week of October every year, our officers and soldiers go out with branded buckets/envelops and request members of the public to donate whatever amount they can afford, no matter how little."

‘Govt must help businesses grow'

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By Kingsley Fanwo

OKOJA—KOGI born business magnate and chairman, Destiny Group of Companies, Ademola Bello, has called on government at all levels to promote business growth through business development incentives in order to rebound the economy from its comatose state.

Speaking exclusively to Vanguard in Lokoja weekend, Bello said the government should create the right regulatory environment as well as credit guarantee to help people develop their businesses, saying the economy would continue to bleed when majority of the populace depended on earnings from civil service.

He said it was time government placed high premium on business development.

Bello said: “Businesses have continued to suffer as a result of poor business regulations and implementation as well as lack of access to capital."

PAC hails emergence of ACP Kolawole as first female Police PRO

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AGOS—THE Police Assistance Committee, PAC, has commended the Assistant Commissioner of Police, ACP, Olabisi Kolawole for emerging the first female Police Public Relations Officer, PPRO, at the national level, describing development as a well deserved appointment.

In a statement issued in Lagos and signed by its director-general, Dr. Martins John Oni, PAC noted that the appointment of the new PPRO was a manifestation of her track record, acquired over the years through her diligent services in the Force which had seen her occupying very sensitive positions.

The organization enjoined ACP Kolawole to approach her new job with all sense of decorum and high level of professionalism to justify the confidence reposed in her by the Inspector General of Police, Solomon Arase.

52—Vanguard, MONDAY, SEPTEMBER 21, 2015

Vanguard CLASSIFIED

Go, defend yourself, Buhari tells Saraki Continues from Page 6 dimension his opponents had taken to fight him, Senator Ogbuoji, who noted that there was no basis for anyone to demand for Saraki’s resignation, stressed that even if Saraki was eventually arrested and arraigned before the court, it would not remove him from his seat as the President of the Senate, adding that such would only be seen as a judicial process.

Also speaking, Senator Joshua Dariye (PDP, Plateau Central) who warned that the unfolding scenario was not a good development, however, suggested that the best way to handle the matter was for the warring factions to go for dialogue and resolve their differences, since the recent action against Saraki was still a fallout of the outcome of the formation of the leadership of the 8th Senate.

He said: “It is not a good development. Dialogue is the key to any success; so let them go into dialogue and settle their differences."

Anti-Saraki senators meet

A source told Vanguard that members of the SUF, the group of Senators who are in support of the position of the All Progressives Congress (APC) on the leadership of the Senate have continued their consultations in readiness for the fallout of the CCT trial of Saraki.

It was gathered that the SUF has decided to lie low and allow the ongoing trial get to a head, as they continue the consultations behind the scene. A source said that the senators cannot say for certainty what would happen during the week, but many of them were said to be banking on the government “handling the assignment for them.”

The SUF Senators: Abu Ibrahim, Kabiru Marafa, Ajayi Borofice, Olugbenga Ashafa, Suleiman Hunkuyi, Banabas Gemade, Ahmed Lawan and George Akume among others came up to support Senator Ahmed Lawan during the fight for the position of Senate Presidency, which Saraki won.

As members of SUF are consulting, Saraki’s supporters, mostly of the Like Minds Senators (LMS) were also moving to consolidate the Senate

President’s hold on the red chamber.

According to a source, one of the forces against Saraki was pushing for an “Obasanjo option,” which would be to pull through the planned arrest and detention of the Senate President irrespective of the CCT order on the issue.

Those behind this agenda are claiming that the CCT is not lower than the High Court and that its orders can only be referred to the Court of Appeal.

It was also gathered that the position of this camp is that the CCT could be made to get Saraki “out of the way” while the issue of control of the Senate would be sorted out on resumption.

Others are, however, expressing caution that the “Obasanjo option” could look drastic and reduce the government’s democratic credentials, especially as the government is still trying to get off the fallout of the invasion of Akwa-Ibom Government House.

The source said: “The noise by the Peoples Democratic Party (PDP) is also unsettling the plans.

If the nation had remained quiet as it was before now, the authorities can go all out after the Senate President under the guise of fighting corruption,” a source close to the party said, adding that the two divides in the APC camp are weighing the best option going forward.

It was also gathered that loyalists of the Senate President have decided to hold a Unity meeting of all Senators on September 28, a day before the 29th resumption date.

CCB member faults trial

Meanwhile, there was a new dimension to the case against Saraki, yesterday, as a member of the CCB said that the entire trial was needless and in contradiction with the process stipulated in the Code of Conduct Bureau and Tribunal Act. The member of the Bureau noted that the Section of the Act was not complied with before the Senate President was charged before the tribunal, adding, “if it had been complied with, the man will probably not even need to get to court at all, even if he committed all we are charging him with; once he admits the inconsistency and regularise them”.

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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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Vanguard, MONDAY, SEPTEMBER 21, 2015—53

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REN'T you amused at this federal agency called Code of Conduct Bureau (CCB)? And the Economic and Financial Crimes Commission (EFCC) for that matter?

These two supposed anti-graft agencies can no longer hide the fact that they have become willing tools in the hands of politicians seeking to settle scores and consolidate their strong arm hold on power.

The EFCC grabbed Mrs. Toyin Saraki who ceased to be a governor’s wife EIGHT years ago! This happened a couple of days after her husband, Dr. Bukola Saraki, defied the All Progressives Congress (APC) leaders and emerged as the head of the eighth National Assembly in cahoots with senators from the People’s Democratic Party (PDP); a political party which he used to govern Kwara State for eight years and later joined in flushing out of power. APC’s supreme leader, President Muhammadu Buhari, and his cat’s paw from the South West, Asiwaju Bola Tinubu, felt humiliated and swore to settle his hash.

Tinubu’s newspapers and electronic media, including his online social media franchises, were mobilised to spew vitriol on Saraki and his House of Representatives neighbour, Speaker Yakubu Dogara.

Recently, the anti-Dogara invectives have been toned down since he made his expensive “burnt sacrifice” of jettisoning his principled federal character formula for the sharing of House principal offices. He appeased Tinubu and Buhari by conceding the Majority Leader position to Hon. Femi Gbajabiamila.

Saraki felt he could overlook or ignore Tinubu’s whining. After all, he too was a governor and the political godfather of his own state, Kwara, just as Tinubu was of Lagos. He even dismissed Vice President Yemi Osinbajo as a “mere commissioner”.

Indeed, Osinbajo was a commissioner in Tinubu’s cabinet in 2003 when he (Saraki) was Governor of Kwara State. Saraki, at a point, made feeble but ineffective efforts to raise his own media counter-forces.

Saraki did not reckon with the fact that Tinubu was not alone in the fight to bring him down. He did not expect President Buhari to be this serious in siding with Tinubu. After all, the president had pledged to work with whoever emerged as the leaders of the National Assembly. Buhari, who is reputed to be a man of his words, was not expected to turn around and lead the war to destroy Saraki.

Buhari started by simply ignoring Saraki and Dogara. Till date, the president has

Saraki in his own stew refused to meet with Saraki even perfunctorily. Normally, you would expect the president to crave the support of the leader of the National Assembly to make his own work easier. Buhari simply shut out Saraki.

Now comes the Code of Conduct Bureau into the picture. The CCB dives into its dustcovered archives and unearths a tatty, twelve year-old security document: the assets declaration of Saraki when he assumed office as Kwara Governor. CCB says it contains “false” declaration, and has dragged Saraki to court. Saraki says it is all politics, and he would meet his political enemies in court. Fine. Let the fight begin. I am sitting pretty at the front row of ringside with a cold bottle of zobo drink.

But wait, where was the CCB all these years after Saraki made this “false” declaration? I agree, crime does not rot. It

Saraki is really in soup. His enemies have him by the balls.

By the time he has been photographed and videoed in the dock as a “big catch” in Buhari’s anticorruption crusade a number of times, the resolve of his supporters among the senators will be sorely tested

can be acted upon any time. But in this case, a matter that was never mentioned by the CCB or any other “anti-graft” body has now become the “banana peel” that could railroad Saraki out of office and probably into Buhari’s jail, if he does not take care.

Before I go on, let me remind us of what this Code of Conduct Bureau once did which made me wonder what manner of “antith graft body” it is. When on June 29 2007, the late President Umaru Yar’ Adua decided to make his comprehensively packaged assets declaration public (unlike Buhari’s shallow declaration which did not allow us to know his real worth), this same CCB protested! It advised President Yar’ Adua that though his gesture was “noble”, publishing his assets would “put pressure on other office holders to do the same”!

How can a genuine anti-graft body say no to a measure that will facilitate the fight against corruption? Why protest against a “noble gesture”? I expected the CCB to call on other public office holders to emulate President Yar’ Adua but CCB chose to go in the opposite direction. We pointed out discrepancies and unwholesomeness in Buhari’s declared assets. Why has the CCB not said anything about it? Or does the CBB exist only to protect the interests of a ruling president and his favoured public office holders? Why is Saraki the only politician on trial for alleged false declaration?

Saraki is really in soup. His enemies have him by the balls. By the time he has been photographed and videoed in the dock as a “big catch” in Buhari’s anti-corruption crusade a number of times, the resolve of his supporters among the senators will be sorely tested. They would increasingly be painted by Buhari and Tinubu’s media, supporters, lawyers, online busybodies, civil society groups and opinion leaders as supporters of corruption. How long can they really hold out? Buhari and Tinubu have an

OPINION Generation of political heroes

By Chioke Hanum

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OW that the ominous political atmosphere has dispersed, the realities of war and strife gone, because the ruling party the PDP stepped backwards, we now have peace, thanks to God. We must now reassess our political behaviours that send us to the precipice at every election. It is beautiful to live and work in peace.

Therefore, I will be looking at the ratio decidendi.

From the beginning of political activities in Nigeria, from 1914, our foundating fathers who wrestled Independence from Britain, drew the road map on which Nigeria is to advance, and became national heroes. Their names are found in the Nigerian history books and important landmarks: airports, schools, currencies. They are heroes gone by.

But today, a new generation of political transformers who have struggled away from political routine and stereotype have emerged. Because of bad governance, war drums are sounded at every election. The society knows of no other way of politicking. Early political development of Nigeria from 1914 till date is replete with violence: (Western Region 1963 to 1966) winner takes all syndrome, carpet crossing. The ordinary citizens are yet to come to terms with this development.

But there are quite a few of these new dawn politicians, in my view, who have already excelled. These men have used good thinking as a tool in the delivery of services to the people, and the discharge of their responsibilities as never before. They dared the so-called political godfathers whose responsibility is to selfishly cause retardation. They battled them and saw them off. They became warlords.

Ngige, Fashola, they all suffered this godfather menace.

There is one in Akwa Ibom state, Godswill Akpabio. They C M Y K

are the ex governors whose leadership style has given us hope that Nigeria can be as good as Western countries.

It is loudest in Lagos that was excavated from the dunghill that retarded the acceptance of the city as modern and rated the third dirtiest in the world.

For the love of Nigeria, a country loved by the whole world, a country constantly expected to rule the world, in terms of resources, population, sports, militarism, influence; we can now see signs that we can attain this expectation, as the skyline changes. These are facts of the present time in our political development.

While walking along the Marina, not long ago, the photographic images of all the past and present Governors and military administrators of this state from 1968 when Lagos State was created were displayed and hung on a fence wall of car parks overlooking the Wema Bank head office on the Marina, Lagos, stating their achievements.

Mounts of rubbish The picture of the immediate past Governor, B.R.Fashola, SAN, was without any record. I thought it is unfair and

deliberate, for by his famous achievements as the one who turned Lagos around, the one whose fame and great works APC gained victory at the recent polls. It left me wondering at the mischief. Before he came, people were moving away from Lagos because of its notoriety for mounds of rubbish located at every corner of the streets, oozing out stench, and the myriads of militia groups that forcefully collect “taxes” for themselves. These ugly situations threw him up for the work and he performed. We started seeing gardens

enormous array of options against Saraki, and their case is helped by easy gullibility of the Nigerian public who only get to know they’ve been played after the game is over.

Saraki is cooking in his own stew. He was one of those who ganged up and brought down the PDP and former President Goodluck Jonathan. The former “new” PDP promoters now nestling in Buhari/Tinubu’s APC will eventually be systematically rendered irrelevant, not just in the party but also back home where they now hold sway.

A few of them could end up in jail, and the rest will be forced to line up behind Buhari and his erstwhile “long-suffering” disciples who are now indisputably in power.

Our elders advised us, long ago, to be careful about dressing up masquerades because they could turn their canes on us.

Nicolo Machiavelli made it clear that those who support princes to gain ascendancy are often the first group of people he eliminates in order to tighten his hold on power. Former military president, General Ibrahim Babangida, demonstrated his coldblooded Machiavellism when he calmly signed the execution warrant of Major General Mamman Vatsa, his childhood friend, schoolmate and fellow anti-Buhari coup plotter.

Buhari realised his ambition to become the second military ruler to govern Nigeria as an elected president through the instrumentality of two major impetuses: the Buhari/Tinubu alliance for the formation of the APC merger, and the movement of the rebel “new” PDP group into the APC. Without either of these events, Buhari would never have emerged. Saraki’s bum is being roasted because he was the first to show his hand against the president’s political interests. He is being shown who’s the boss around here.

Since Buhari assumed power, he has totally turned his back on the “new” PDP. He has not offered them anything yet.

Buhari has only marginally carried Tinubu along. It is quite possible that by the time he has consolidated, Tinubu might also be sidelined with most of his erstwhile disciples assimilated by Buhari’s erstwhile “long suffering” acolytes in a “new” APC. The CCB, EFCC, ICPC, NSA, DSS, INEC and the lot, which are controlled by Buhari’s “long suffering” disciples or made to “tow the line” are formidable agents of state which Buhari has primed for his power consolidation.

Politicians who worked for “change” have gotten it. We will soon see if it was the change they bargained for.

and parks, and these have come to stay. It is his recognition of the management principle that hygiene factor can be responsible for the decline or upliftment of a state that he gave Lagos hygiene. The world acknowledged and praised this phenomenon.

Realizing he cannot succeed without funds, he launched a vibrant tax drive which made his salvage mission attainable. Like all transformation agents he had his darkest nights which only him can speak about.

It never was this good for Lagos. He deserves even higher duties for our sakes.

Also in Akwa Ibom state, an uncommon transformation occurred where Godswill Akpabio, enigmatic politician, did the work of a lifetime in only eight years. He took that state from obscurity to limelight, turning everything around: the people and infrastructure. His people who were known for little achievements are now competing at the top.

The Catholic Bishop of Awka had this to say about ex-governor, Dr. Chris Ngige: “Before the arrival of this great Governor, government money was believed to be insufficient for governing until Ngige came to prove it a fallacy. Civil servants who were owed nine months of salary now receive pay promptly. Abandoned works completed and enough change is left.” .

And the big one, ex President Jonathan, humble and patient, the one who has given Nigeria hope anew by agreeing to be defeated in the last general election for the sake of Nigeria. By “surrendering” he pulled us back from the precipice of disintegration. Everyone prepared for war or flight, but it was not to be. Alleluia.

By his surrendering, he purchased peace for Nigeria, the most needed resource.hopefully, their records may be overtaken by their successors pro bono Nigeriae (for Nigeria’s benefit.) Let’s have more of them.

•Mr. Hanum, a social critc, wrote from Lagos.

54 — Vanguard, MONDAY, SEPTEMBER 21, 2015

Enyimba, Wolves lose, Wikki win

By John Egbokhan

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T

HE intrigues of the Nigerian league continued yesterday with leaders Enyimba and Warri Wolves suffering slight setbacks in their Glo Premier League title chase, after both teams lost on the road. Despite the loss, Enyimba still top with 55 points from 30 games, while El Kanemi have 39 points.

Benjamin Turba opened the scoring for El Kaneni in the ninth minute with a rocket shot off impressive Chinedu Ohanachom’s assist.

Efe Yarhere doubled the hosts lead in the 28th minute.

Enyimba got a consolation goal on the 88th minute through substitute Nzube Anaezemba.

Wikki Tourists have moved back to the third position after beating Bayelsa United 2-0 at home Shooting Stars scraped an hard-fought 1-0 over Akwa United in Ibadan, with Seun Akinyemi’s 12th minute goal being the only difference Shooting dominated the game and should have scored more goals but for some outstanding saves by goalkeeper Kayode Olufemi.

Heartland were held to a goalless draw by Lobi Stars in Owerri while in Umuahia, Warri Wolves were beaten 2-1 by Abia Warriors.

Team Three Crowns beat Friso, as FC Wamco kicks off

WO goals from Friday Okoronkwo and Adedapo Babatunde were all Team Three Crowns needed to defeat their Frisco counterparts 2-1 in the opening game of the FC Wamco football competition, which kicked off at the Agege Stadium on Saturday.

Oluseyi Adegbite scored Team Frisco’s lone goal.

The opening match of the competition, watched by members of staff and families of FrieslandCampina

•Past action from a Wikki Tourist, Rangers match

Pillars: We were attacked by Ifeanyi Ubah fans

C

HAMPIONS Kano Pillars claim their camera man was attacked by supporters believed to be those of home team IfeanyiUbah after a 1-1 draw on Sunday.

“Our camera man was

attacked and his tape confiscated by supporters of the home team,” said Pillars spokesman Idris Malikawa.

“When we lost at home, hell did not break loose, but see what they did to us because they could

Continues from BP

Buhari

expressed appreciation at the performance of the team, urged the Nigerian athletes to always make Nigeria proud by constantly improving on their performance.

He said he was impressed with the performance of Team Nigeria at the continental event, and that he was not in doubt about their zeal and determination to make Nigeria great.

He, therefore, expressed deep joy that

Continues from BP

FIFA

programme, in direct reference to the condemnation of the NFF criteria by Chief Olusegun Odegbami (one of the aspirants), Pinnick underscored the fact that the NFF was interested in protecting the image of the country.

“The NFF is presently working to rebuild and repair the country ’s football, in order that we can return to global reckoning. There are so many things we are doing to ensure this, and the NFF is determined that our country does not become a laughing stock as a result of another false step in the political sphere.

“As the NFF has stated, over the past four years, our country has lost two elections into FIFA/CAF seats. Our stock in football politics has dipped, and for this reason, we must weigh

carefully every other step we wish to take again in that respect. The FIFA presidential race is a very serious matter, an intense affair that demands playing the political game on a global canvass.”

Pinnick said the conditions were not targeted at any aspirant and that they are simply designed to induct the determined persons into the furnace of football politics.

“Our criteria is reasonable and sensible; this is not a matter for sentiment. We do not underestimate the capacity of the aspirants, but the FIFA presidential race involves too many things and rests on a lot of factors.”

On Thursday, one – time Secretary General of then Nigeria Football Association, Hon. Sani Ahmed Toro gave strong backing to the conditions

several members of the teams did Nigeria proud and singled out for special commendation, the basketball team, D’Tigers Basketball team.

The D’Tigers had earlier earned the nation a Gold medal (at the Tunis African Basketball competition) for the first time in 50 years, and by which feat the country got an automatic ticket to the Rio Olympic Games in 2016.

Buhari noted that the performance of Team

stipulated by the NFF, insisting that those who have opposed the conditions have their own motives.

“I commend the NFF for the conditions, because we cannot allow people to go out to the international sphere to ridicule Nigeria.

“Look, vying for the Presidency of FIFA is a very serious business with strong political waters to navigate. It is not a picnic. How many votes does Africa as a whole have? And which of the Nigerian aspirants will be hoping to get Africa’s block vote? Let us stop deceiving ourselves.”

Toro, a former Member of the House of Representatives, was Secretary General of then Nigeria Football Federation between 1993 and 1999, commonly referred to as the Golden Era of Nigeria Football.

only get a draw at home.

We were held hostage for more than 20 minutes before police took out of the stadium.

“The officiating was also very bad, the worst we have come across this season and this was

Nigeria at the Congo games had yet again brought the massive potential of Nigerian sportsmen and women to excel in their chosen areas against all odds.

He implored the country’s athletes to do all they could to ensure that “Nigeria regains its number one position in Africa and the world at large”.

The president, who noted that a presidential delegation had attended the closing ceremony and conveyed his congratulations to the Team Nigeria and its officials, promised the team a fitting ceremony.

despite the fact that NFF executive committee member Ahmed Kawu watched the game.”

Former Enyimba striker Menshack Chukwuibukem was the hero of IfeanyiUbah FC on Sunday as he scored a late minute goal to earn the hosts a draw with Pillars IfeanyiUbah now have 42 points from 30 games, while Pillars have 44 points from 30 games.

WAMCO Plc., saw the teams lining up in the UEFA Champions League style before the official kick off done by the company ’s Managing Director, Rahul Colako.

Colako in his opening address disclosed that eight teams are involved in the competition, which will end on November 7 with the winners going home with various prizes.

He said, “the field of sports is a great place to display many values of FrieslandCampina Wamco with the objective of winning together.

Asides entertainment, the contest seeks to encourage work-life balance and promote the physical and mental well-being of staff.

“These values are very important to productivity and sustainable growth of the company. Ultimately, we hope to select the best players to form the FC Wamco to represent the company in the FMGG Games.”

Arrival Continues from BP Africa’s premier multisports competition, the Nigeria team, which finished second on the medal table with 47 gold, 55 silver and 42 bronze medals, arrived board a chartered air flight to the waiting hands of jubilant National Sports Commission officials, who also celebrated the athletes for posting a

Continues from BP

Yakmut

behind Egypt’s 74(Gold), 56(Silver) and 63(Bronze) to signal that Nigeria is ready to take over the leadership of the Games. ‘’I’m overwhelmed that we finished strongly to place second behind Egypt. It is worth celebrating but we deserve to be number one in Africa’’, Yakmut who was appointed as DG less than three months to the Games to guide Team Nigeria to its glorious outing said. ‘’It’s a thing of joy to finish second after 18 years but we have the wherewithal to be number one in Africa.

We’re not going to celebrate this feat and forget where we should be’’, Yakmut, a former Volleyball player who

insisted on the welfare of athletes at the Games said. ‘’We now know the strengths of our opponents and we are going into those areas to weaken them and strengthen our medals prospects. It’s about planning. With the right motivation, our athletes have shown the vim and vitality to challenge their colleagues from other African countries. We won’t go to sleep. This is the time for us to maintain the tempo. We’re not going to make the mistakes of waiting for the last minute before preparations. As I talk to you, we’re looking at the Rio 2016 Olympic Games.

Our athletes are going to make the sacrifices and we’ll support them. The

remarkable outing which was only bettered

by Egyptian athletes, who scooped 74 gold, 56 silver and 63 bronze medals to finish top on the table.

South Africa, surprisingly finished third on the log with 38 gold, 37 silver and 32 bronze medals while Algeria and Tunisia came fourth and fifth respectively.

Government has demonstrated its love and support for athletes who excel in Games in Congo.

We’ll up the ante at the Olympic Games’’, Yakmut said on our hotline yesterday.

A breakdown of Team Nigeria’s medals showed that Athletics despite the withdrawal of Blessing Okagbare in her traditional 100 and 200m accounted for more medals recording 10Gold 9silver and 5bronze medals with Wrestling in the second position with 9Gold 5Silver and 4Bronze medals.

Weightlifting finished third with 8Gold 18Silver and 9Bronze medals while Powerlifting accounted for 8Gold 7Silver and 2Bronze medals.

Vanguard, MONDAY, SEPTEMBER 21, 2015 — 55

Wenger: “That Costa didn’t get a red card is unbelievable”

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TUSSLE....Victor Moses (r) of West Ham battles for the ball with Aleksandar Kolarov of Man City during the Premier League match at Etihad Stadium on September 19. West Ham won 2-1

RSENE Wenger has revealed he was deeply frustrated by Arsenal’s 2-0 loss to Chelsea.

“It was a very frustrating afternoon because we looked like we were in control,” the Frenchman said.

“It’s frustrating to see Diego Costa staying on because it’s not understandable when you look at the whole situation.

"The fact that he doesn’t get a red card is unbelievable. That we got one on top of that, we have to look at ourselves because we are guilty. But Costa should have been off before Gabriel could respond to him.”

Moses: Hart thought I was going to cross V

ICTOR Moses has made a pretty good start to life with West Ham United.

Since signing for the Club on loan from Chelsea on deadline day, the Nigeria international has set up a goal in Monday ’s 2-0 win against Newcastle and then got on the scoresheet himself as the Hammers ended Manchester City ’s perfect start to the season on Saturday.

Following the 2-1 victory at Etihad Stadium, the Hammers have now triumphed at Arsenal, Liverpool and Manchester City this term, leaving Moses delighted.

“It’s not a bad way to start!” he confirmed.

“Winning two games in a row is fantastic and it’s great credit to the lads.

I’m delighted.

“We’re pleased with the three points, it’s a massive win and we just want to keep on win-

ning games now.

“I was very happy to score. I should have scored against Newcastle but it wasn’t to be. I scored today and hopefully it’s the first of many for West Ham. “I saw that Joe Hart thought I was going to cross the ball, so I caught him unawares. It was a great goal.”

Victory in Manchester was a real team effort and Moses had special praise for the players at the defensive end of the pitch.

He added: “When it was 2-0 I thought we could have scored more goals, but then City scored and we had to defend really well in the second half.

“Reid was on fire today, everyone at the back was solid and we deserved the win. They have great players and were pushing to try to score but it wasn’t the day for them.”

Ighalo now leading scorer in 2015 •Vows to keep scoring against Palace

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•TWICE AS GOOD.....Watford’s Odion Ighalo celebrates one of his two goals with Ikechi Anya during the game against Newcastle at St James’ Park on September 19. Watford won 2-1.

DION Ighalo was quick to highlight the vital role played by fellow front-man Troy Deeney for both of his goals against Newcastle United.

“Troy’s assisted me for three of the four goals I’ve scored this season,” pointed out Ighalo.

“But we didn’t only click now, since last season we played together up-front in the Championship and we were playing well and working hard together then.

“I’m so happy that we’re still working hard together, he’s a great striker and I know he’s going to score goals in this league because he’s an amazing guy and an amazing striker.

“He works hard for the

Man U beat Southampton to close gap on City M ANCHESTER United have moved to within three points of Premier League leaders Manchester City after the 32 win over Southampton.

United found themselves trailing after 13 minutes when Graziano

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Pelle slotted home the rebound after Saido Mane’s initial strike was saved be David De Gea. The visitors were on level terms 20 minutes later after Anthony Martial latched onto a Juan Mata through-ball to score on his full Premier

League debut.

It was the summer signing again who put United in front five minutes after the break, making the most of a poor Maya Yoshida pass back before cooly slotting it past Saints goalkeeper Maarten Stekelenburg.

•Martial (r) and Mata

team and he gives all his best any time he’s on the pitch. I’m really pleased, and I’m always happy to play with him.”

Ighalo has now scored 20 goals since the start of 2015, more than any other player in England, and he was pleased to reflect on the latest two when reflecting after the final whistle.

“For the first goal I had a little bit of space and I had to shoot the ball under the legs of the defender, so the keeper could not see,” he said.

“The second one was a great pass from Troy and I made the run behind the defender. I watched the keeper coming out and I knew I had to beat the keeper to one side and slot it in.

“I’m happy not only for my goals, but also for the all-round performance of the team. We really worked hard from the first minute to the last minute, and we really want to keep pushing like this.

“Today’s game is now gone, all we are thinking about is Crystal Palace in the next game, so we want to focus and keep on going.”

Vanguard, MONDAY, SEPTEMBER 21, 2015

Team Nigeria arrive!

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EAM Nigeria athletes to the just 11 th All Africa Games, which ended

weekend in Brazzaville, arrived Abuja last night with their medals draped round their

necks After 15 intensive days of battling for honours at Continues on Page 54

President Buhari hails Team Nigeria RESULTS NPL Giwa 1 Sharks 0 Dolphins 3 Taraba 1 El-Kanemi 2 Enyimba 1 Wikki 2 Bayelsa 0 Heartland 0 Lobi Stars 0 Nasarawa 1 Rangers 0 A/Warriors 2 Wolves 1 I/Ubah 1 Pillars 1 Shooting 1 Akwa 0 Kwara Utd 1 Sunshine 2 EPL S/Ampton 1 Man Utd 3 Liverpool 1 Norwich 1 SERIE A Chievo 0 Inter 1 Atalanta 1 Verona 1 Bologa 1 Frosinone 0 Genoa 0 Juventus 2 Roma 2 Sassuolo 2 Torino 2 S/diroa 0 Carpi 0 Fiorentina 1 LA LIGA Sevilla 1 Celta Vigo 2 D/La Coruna 2 S/Gijon 3 BUNDESLIGA Stuttgart 0 Schalke 1 Augsburg 2 Hannover 0 Dortmund 3 L/kusen 0

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RESIDENT Muhammadu Buhari has congratulated the Team Nigeria, who came second on the overall medals table at the just concluded African Games in Congo Brazzaville.

This is contained in a statement issued by Malam Garba Shehu, the President’s Senior Special Assistant on Media and Publicity, in Abuja on Sunday.

Buhari, who

Continues on Page 54

Enyimba, Wolves lose, Wikki win —P.54

•Victorious team Nigeria's athletes.

No more second fiddle for Team Nigeria—Yakmut

By Tony Ubani

FIFA: No going back on conditions— Pinnick N

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S Nigerians continue to celebrate Team Nigeria’s sterling second placing at the end of African Games in Congo Brazzaville, Director General of the National Sports Commission, NSC, Alhassan Yakmut has vowed that Nigeria would no longer play the second fiddle in the continental fiesta.

Team Nigeria displaced South Africa in the second position with its last surge to

•Yakmut finish with 47(Gold), 56(Silver) and 44(Bronze) medals

Continues on Page 54

FF President Amaju Pinnick has reiterated that the conditions rolled out by the NFF Executive Committee for Nigerians aspiring for the Office of President of FIFA were perfectly in order and meant to ensure the aspirants make wide consultations before the real contest.

Speaking on a sports

Continues on Page 54

•Odegbami

QUICK CROSSWORD

TODAY'S

PUZZLE

FRI DAY'S FRIDAY'S

ANSWERS

ACROSS 1 Cab (4) 4 Fix (3) 6 Intense (4) 8 Light (8) 9 Vent (6) 10 Line (3) 12 Loaf (5) 14 Complain (5) 15 Soar (5) 18 Calm (6) 20 Countless (6) 24 Dissuade (5) 26 Tally (5) 28 Lorry (5) 30 Obtain (3) 32 Disregard (6) 33 Bureau (6) 34 Inactive (4) 35 Manage (3) 36 String (4)

DOWN 2 Wrath (5) 3 Copy (7) 4 Nobleman (4) 5 Increase (4) 6 Trench (5) 7 Everlasting (7) 11 Poem (3) 12 Coach (3) 13 Fellow (3) 16 Marry (3) 17 Groove (3) 19 Betrothed (7) 21 Novel (3) 22 Trade (7) 23 Noise (3) 25 Sheep (3) 27 Elicit (5) 29 Happen (5) 30 Equipment (4) 31 Borough (4)

YESTERDAY'S SOLUTIONS ACROSS: 2, Spite 7, tempo 8, Alter 10, Rouse 12, Air 13, Devil 15, Trapped 17, Onager 19, Rip 20, Defamed 23, Grid 25, Deft 26, Demonic 30, Car 31, Cattle 34, Diverse 37, Layer 38, Tan 39, Exult 40, Catch 41, Ether 42, Study.

DOWN: 1, Seven 2, Sprig 3, Pooled 4, Test 5, Clapped 6, Beret 9, Tip 11, Erattic 13, Dodge 14, Valid 16, Aim 18, Remorse 21, Deity 22, Steer 24, Decency 27, Mar 28, Called 29, Vital 32, Tatty 33, Lever 35, Vat 36, Exit.

How to Play Sudoku

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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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