Westafrica BusinessNews Thursday, July 18, 2019 by westafricabusinessnews

Nigeria loses N1.4trn yearly to violence against children – UNICEF

damning revelation came yesterday from the United Nations Children’s Fund (UNICEF) that Nigeria loses over N1.4 trillion annually due to Violence Against Children (VAC). A consultant with Bauchi State Field Office of UNICEF, Mrs Rita Pele,

said this at the inauguration of the reports on Financial Benchmark and Economic Burden of Violence Against Children in Nigeria in Jos. The documents were for Gombe and Plateau States. According to Pele, the figures represent 1.6

per cent of the country’s Gross Domestic Product (GDP) She explained that the figures were based on the survey conducted this year by the Federal Government in collaboration with UNICEF. “On average, deaths and disability result-

Vol. 06 No. 387

THURSDAY JULY 18, 2019

ing from acts of violence against children cost Nigeria N1.42 trillion annually. “This is equivalent to 1.6 per cent of Nigeria’s GDP. This includes physical, sexual and emotional violence against children in the country,” Pele said. In his address, the Chief of UNICEF Bau-

chi Field Office, Bhanu Pathak, called for increased funding by government at all levels to end violence against children in the country. Represented by Amos Kudzala, the Officer-inCharge of the field office, Pathak said the launch of the two reports provides

first-hand information on the high economic cost of violence against children in Nigeria. “The launch of these reports today affords us the opportunity to know firsthand what we are putting into child protection

Page 29

N200

ISSN: 2408-6703

Nigerians Personal Well-Being Index drops by 0.3pts—NOI Polls BY Bonny Amadi

ersonal well-Being index (PWBI) of Nigerians for the second quarter ended June 30, 2019 dropped further by 0.3 points, closing the period at 64.5 points. This reinforces the need for the government

charged with the responsibility of ensuring that the wellbeing of the citizenry is optimal, to implement viable policies, such as family welfare, low income support, child support, among others, that will boost the well-being of Nigerians. The NOIPolls Personal

Lending rate: CBN tightens screws on banks

Well-Being (PWBI) report, released yesterday for Q2, 2019 showed a decrease of 0.3–points in Q2, 2019 to stand at 64.5-points as against the value 64.8-points obtained in Q1, 2019.

The PWBI is determined by the level of satisfaction of Nigerians on various components of their personal lives. The report showed that only two of the sev-

en factors that comprises the PWBI experienced increase while the remaining five components experienced decrease in Q2, 2019. The highest increase experienced

is in Economic Situation index which increased by 0.8-points to stand at 44.2-points in Q2, 2019 from the 43.4-points obtained in Q1, 2019.

Page 9

Page 8

Investors’ frustration deepens over lack of policy direction

Page 12

Reps threaten to take over Edo Assembly over crisis Page 23 Buhari asks herders to ignore NEF’s ‘return home’ order

Page 27

Senate President Ahmed Lawan (right) and Speaker, House of Representatives, Femi Gbajabiamila addressing State House Correspondents after meeting with President Buhari at the Presidential Villa in Abuja, yesterday.

‘FG tax incentives cost over N580b loss yearly’

BY NIYI JACOB

n international N o n- G o v e r n m e n t Organisation(NGO), OXFAM, has advised the Nigerian government to review its policy on tax in-

centives currently costing the country a revenue loss of over N580 billion annually. The Country Director, OXFAM Nigeria, Constant Tchona, gave the advice yesterday in Abuja at the

public presentation of the Fair Tax Monitor Index Report and the Commitment to Reducing Inequality Index Report. Tchona said studies had shown that the fiscal incentives granted with

the hope of stimulating investments in the country were eroded by poor governance and lack of transparency. He said that there was no-cost benefit analysis to justify the exemptions.

Tchona said that in the spirit of fair taxation, the process for granting tax incentives should include mandatory parliamentary oversight, clear requirements for incentives and periodic review of expect-

ed results. “The National Assembly should enact a law that will criminalise the actions of banks, auditors, accountants and lawyers that facilitates illicit finan-

More strategic investment in Africa’s ports will strengthen trade

Page 30 BACKPAGE

4 THURSDAY, JULY 18, 2019

: L-R: Felintola Salisu, Associate Director, NIgerian Financial Intelligence Unit(NFIU); Hamman Tukur Modibbo, Director/ CEO NIgerian Financial Intelligence Unit; Professor Umar Garba Danbatta, Executive Vice-Chairman, Nigerian Communications Commission (NCC);Usman Malah, Chief Of Staff, NCC; Dr. Henry Nkemadu, Director, Public Affairs, NCC; Yakubu Gontor, Director, Financial Services, NCC during the Courtesy Visit of the NIgerian Financial Intelligence Unit to NIgerian Communications Commission Headquarters, yesterday.

Enugu State Governor, Ifeanyi Ugwuanyi (middle) receiving the report of the peace committee on the comunual dispute between Ogrute and Aji communities, Igbo-Eze North Local Government Area, from the committee chairman, Barr. Godwin Ogbo ( left) and Chairman of Igbo-Eze North LGA, Uwakwe Ezeja (right) at the Government House, Enugu, yesterday.

From left, Executive Secretary, forestry and mineral resources, Mr. Olutayo Lanlehin; member of the House of Assembly, Hon. Babatunde Komolafe; Speaker of the House of Assembly, Hon. Timothy Owoeye; the Adimula of Ifewara, Oba Hezekiah Owolola; Governor Adegboyega Oyetola; his deputy, Mr. Benedict Alabi; Professor Siyan Malomo and Chief of Staff to the Governor, Dr. Charles Akinola, during a visit to the illegal mining at Ifewara, yesterday.

An Innovation where faeces is been generated to produce gas for cooking for the prisoners at Nigerian Prison Service, Maximum Security Prison Kirikiri in Lagos

PHOTOSPEAK

L-R: Gbenga Oyebode, Chairman, Nigerian Bar Association (NBA) Technical Committee on Conference Planning (TCCP); Paul Usoro SAN, President, NBA; Chinyere Okorocha, Chair, fundraising committee, NBA-TCCP; Seni Adio SAN, Chairman, Technical Subcommittee, NBA-TCCP, and Olumide Akpata, Co-chair, NBA-TCCP, at a press conference to announce the NBA 2019 Annual General Conference in Lagos , yesterday

L-R; President, African Business Aviation Association ,Mr. Nick Fadugba; President, Aviation Safety Round Table Initiative Representing the Keyote Speaker, Dr. Gbenga Olowo; Chairman of the Occasion and Managing Director Med view Airline, Alhaji Muneer Bankole; CEO Topbrass Aviation Guest Speaker, Capt Roland Iyayi and Chairman, League of Airport (LAAC) and Aviation and Correspondents, Mr. Olusegun Koiki, during the LAAC 23rd Annual Conference and Awards on Boosting Aviation Investments: Through Policy, in Lagos, yesterday.

President Muhammadu Buhari; Gov Atiku Bagudu of Kebbi State and Gov Abubakar Badaru of Jigawa State during their meeting at the Presidential Villa in Abuja, yesterday

L-R: Vice Chairman, Nigerian Institution of Environmental Engineers, Lagos Chapter,(NIEE) Engr. Olawale Akinsanya, Chairman, Nigerian Institution of Environmental Engineers, Lagos Chapter, Engr. Abiola Kosegbe,Deputy Controller of Prisons, Emmanuel Oluwaniyi and The Innovator of the Faeces to Generate Gas and MD/CEO Avenam Links, Mrs Nina Ani During the visit of the Nigerian Institution of Environmental Engineers, Lagos Chapter,(NIEE) Industrial Visit to see how Faeces is been Generated to product Gas for cooking at the Nigerian Prison Service, Maximum Security Prison Kirikiri in Lagos, Photo; SUNDAY ADESANYA.

CLASSIFIED

THURSDAY, JULY 18, 2019

Miyetti Allah seeks CAN partnership to end herders, farmers clashes L eaders of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) have called for the collaboration of the Christian Association of Nigeria (CAN) in uniting the different religious groups in the country for peaceful resolution of the farmers-herders’ conflicts. The National Secretary of MACBAN, Baba Ngelzarma, made the call in his remark during the delegation of the association’s courtesy visit to the National leadership of CAN yesterday in Abuja. Ngelzarma said that the cattle breeders association sought partnership with CAN to demonstrate its desire toward peace and mutual resolution of the lingering conflicts. “MACBAN wishes to request the partnership of CAN in uniting the different religious groups in the country for peaceful resolution of the farmers-herders conflicts. “We should unite against hatred and support all government initiatives toward solving the conflict.” He said that MACBAN acknowledged the increasing tension between farmers and its members in the last five years due to scarcity of pasture over grazing reserve as a result of climate change. Ngelzarma said that MACBAN

was duly aware of the effort by the Federal Government in conjunction with state governors to address the farmers-herders conflicts through the 10-year National Livestock Transformation Plan (NLTP) 2019 to 2028. He said that the association had embraced the plan fully and had already trained her national and state executives on negotiation, peace building and conflicts prevention in preparation for the plan. The national secretary said that MACBAN recognised the need to partner government to modernise livestock production as proposed in the NLTP. “We believe the 10 years plan will guarantee efficient time for pastoralists to learn new techniques of Livestock production. “MACBAN will require that government implements the plan as designed in order to assist the pastoralists through proper extension services and training over the plan period to properly learn how to manage livestock efficiently. “Both MACBAN and the umbrella body of farmers, AFAN, benefited in training organised by the Presidency on peace-building and conflict resolution. Ngelzarma said that MACBAN

also looked forward to more engagement with CAN as a body and other stakeholders in the Nigerian project. “We seek the cooperation of CAN to be part of our National Campaign to reorient our youth to fear the Almighty, inculcate values of hard work, empathy and being our brothers keeper irrespective of their faith.” He said that pastoralists had lived peacefully for ages with different nationalities and had learned to resolve their quarrels peacefully. He, however, noted that the media were making it look like the pastoralists were perpetually at war with other communities. “Like all other communities we have our bad eggs and we have not relented in fishing them out all across the country. “We have been to Ebonyi, Ekiti, Enugu, Katsina, Oyo and now Zamfara State to assist in resolving conflicts with our members. “We are grateful with the level of understanding and cooperation we have received from the state governments in resolving some of these security issues.” He said that as part of effort to address the farmers-herders conflicts, MACBAN had resolved to

embark on a number of stakeholder engagements which it began with the leadership of CAN. The engagements according to him include a summit that would involve people from all walks of live as well as multiple engagements with the media at various levels across the country. Ngelzarma, who condemned the killing of Mrs Funke Olakunri, the daughter of Pa Reuben Fasoranti, the leader of the Yoruba socio-cultural group, Afenifere, urged Nigerians to desist from politicising the killing. He also urged Nigerians to desist from dressing it in ethnic garb and allow the security to do its work. “We are also reaffirming our call on the Police and other security agencies to do all they can to get to the root of this dastardly killing and ensure diligent prosecution of any individual or group found to have had a hand in the incident.” Ngelzarma said that MACBAN as a responsible association did not condone criminals and criminalities within or outside the association but ever willing to assist the security in ensuring peace reigned. He denied the allegation on the social media that the association donated N3 billion to a candidate of a

political party in Akwa Ibom in exchange for the establishment of cattle colonies in the state. In his response, the National Chairman of CAN, Rev. Supo Ayokunle, urged all Nigerians to be prayerful for the plan of the devil for the country not to be achieved. “I will urge all of us to be prayerful because I see the devil at work, provoking men to do things that are very odd, things that for years ago you cannot think can happen in Nigeria. “Devil is at work and it will make us to be fighting ourselves. If we are not careful we with not be able to chase him out. “It is with our collectivity that we can chase the devil away.” Ayokunlec commended MACBAN for the call for collaboration, pledging that CAN would discuss the proposal and get back to the association. “We have received your move with appreciation, we will sit down articulate it to be well informed on all these proposal you have raised,” he said. Also at the event was the National President of MACBAN, Muhammadu Kirowa, and other national leaders of both CAN and MACBAN.

FINANCIALS

THURSDAY, JULY 18, 2019

Lending rate: CBN tightens screws on banks

t the end of the Bankers’ Committee meeting last August, the Director of Banking Supervision at the CBN, Abdullahi Ahmad, announced that one of the issues discussed at the gathering, was that the regulator will be refunding Cash Reserve Ratio (CRR) to banks that fund projects in the agriculture and manufacturing sectors. The CRR is a portion of banks’ deposits kept with the CBN. Ahmad stated that the CBN had been very supportive of DMBs, adding that banks should be able to lend to companies that are doing new capital expenditures and expansions to factories using some of their CRR at nine per cent. According to him, these will not be short-term loans but long-term facilities of seven-year loans, with two year moratorium on principal. “It would probably be the first time in the history of this country where manufacturers would be able to take fixed interest rate loans for seven years, which means they would be able to plan. The volatility that they fear for all kinds of risks would be taken out and I think these are very laudable steps in improving and growing the economy,” Ahmad said. He explained that although agric and manufacturing were the initial sectors that were considered, banks could also apply to have the loans disbursed to any other job creating sector it might be involved in. The CBN Director further stated: “We can refund the CRR of a bank that has engaged in lending in a new project or an existing one in the agriculture or manufacturing sector as a way of utilising the CRR. So, anytime a bank lends to manufacturing or agric at the rate the CBN has prescribed, it would have its CRR refunded up to the amount it has lent.” Also speaking at the press briefing, the Executive Director, Finance at First City Monument Bank (FCMB) Mrs. Yemisi Edun, backed Ahmad’s position on the plan. She said: “This is very positive for the economy and also positive for banks because we would be able to access these funds and earn on it. And because it would be coming at single digit rate, it would be positive for the economy.” However, despite this and similar such initiatives that were introduced by the CBN, all the monthly and quarterly data released by the banking watchdog since that Bankers’ Committee meeting continued to show little or no improvement in banks’ lending to the real economy. In fact, personal statements of members of the CBN’s Monetary Policy Committee (MPC) at the committee’s March meeting indicate that most of them were not comfortable with banks’ reluctance to lend to grow the economy despite the fact that there was an improvement in Financial Soundness Indicators (FSI). Specifically, in his personal statement, Professor Adeola Adenikinju, said: “The falling rate of total bank credit is a concern. The observed shift in bank balance sheet from loans and advances to fixed income assets is not a good omen to the real sec-

In a bid to boost commercial bank lending rate, the Central Bank of Nigeria (CBN) appears set to wield the big stick against recalcitrant lenders. NIYI JACOBS writes

Emefiele

tor. Access to credit and high costs of credit are two of the major constraints to real sector growth. CBN efforts using nonconventional measures to raise domestic credit should be complemented by DMBs by performing their primary responsibility of credit creation. The huge gap between average lending and deposit rates is too wide and symptomatic of lack of real competition among the banks.” Given the foregoing, it perhaps did not come as a surprise to industry watchers that the CBN had in the last three weeks announced stiff measures aimed at compelling DMBs to lend to the real sector. first, on July 3, the bank watchdog announced that all DMBs would be required to maintain a minimum Loan to Deposit Ratio (LDR) of 60 per cent by September 30, 2019 but subject to quarterly review. It said this was meant to encourage lending to Small Medium Enterprises (SMEs), Retail, Mortgage customers, which shall be assigned a weight of 150 percent in computing the stipulated LDR, adding that it(CBN) will provide a framework for classification of businesses that fall under these categories. The regulator emphasised that any DMB’s failure to meet the new minimum LDR by the specified date would result in a levy of additional CRR equal to 50 per cent of the lending shortfall of the target LDR. Exactly a week after it announced this measure and while financial experts were still debating the impact the development would have on the banking industry, CBN announced that it had tweaked the guidelines on

DMBs’ access to Standing Deposit Facility (SDF). The SDF is a window where DMBs can place excess funds overnight with the CBN. The interest to be earned on such funds is prescribed by the MPC. According to the regulator, starting from last Thursday, it had capped the remunerable daily placements by banks at the SDF window at N2 billion (down from N7.5 billion). It stated that while the N2 billion will be remunerated at the interest rate prescribed by the MPC from time to time, any deposit by a bank in excess of the N2 billion will not be remunerated. The new measures, have, however, elicited divergent views from financial experts both within and outside the country. For instance, in a statement, Fitch Ratings described the CBN’s requirement for Nigerian banks to have a

Loan-to-Deposit Ratio (LDR) of at least 60 per cent at end-September as being “ credit-negative for the sector.” The CBN requirement, the agency stated, “will push some banks to significantly increase lending to riskier borrowers, potentially with looser underwriting or underpricing of risk.” It further stated that following the CBN measure, it had raised its 2019 loan growth forecast to an average of 10 per cent for banks that it rates , compared with 1 per cent growth in 2018. According to the agency, “achieving the new LDR requirement in such a short timescale will be very difficult for some banks given their lending levels, particularly if customer deposits continue to grow at present rates. The sector’s overall LDR was 57 per cent at end-May, according to CBN data. This is low relative to many markets, and reflects banks’ concern about the risk to asset quality from

The Executive Board will now be taking the necessary steps to move forward with the process for selecting a new Managing Director. David Lipton remains our Acting Managing Director.

Nigeria’s often volatile operating environment. Nigeria’s largest banks, with the exception of Access Bank, have LDRs below or close to 60 per cent and will be among the most affected by the new requirement.” In addition, Fitch said: “It is unlikely that there is sufficient demand from good-quality borrowers for banks to meet the target without relaxing their underwriting or pricing standards. Banks continue to struggle with high impaired and other problem loans, which is partly the cause for muted lending since 2016. The present operating conditions are not conducive to loan growth, and rapid lending during the fragile economic recovery could increase asset-quality problems in the future. Chasing loan growth could also weaken banks’ profitability if they cut margins to attract customers, and because of the need to set aside expected credit loss provisions under IFRS 9 when loans are originated.” Besides, it said: “Despite the difficulty of sourcing rapid loan growth and the risks it entails, we expect banks to make a big effort to achieve the 60 per cent target given the severity of the penalty for missing it. Depositing cash at the central bank is highly unattractive for banks, as they receive no interest on it, in stark contrast to the high yields they can earn by holding Nigerian T-bills and government bonds. “ Stating that it will monitor how lending will develop in the third quarter both at the sector level and at individual banks, Fitch warned: “Fast loan growth, particularly relative to the market average, or other signs that a bank’s risk profile may be deteriorating, could lead to negative ratings actions.” Similarly, in their reaction, analysts at CSL Stockbrokers Limited, stated: “Measures such as this fail to address the fundamental issues behind banks’ reluctance to lend and would only result in banks looking for innovative ways to get around the rules.” They pointed out that the low risk appetite among banks for lending to the real sector could be attributed to the high risks in the operating environment, which hinders the survival of SMEs and the profitability of businesses in general. equally commenting on the CBN move, Moody’s Investor Service stated it would go a long way in stimulating consumer lending in the country. it noted: “The directive aims to stimulate lending to the real economy. To motivate small and midsize enterprise (SME), retail, mortgage and consumer lending, loans to these sectors will be assigned a weight of 150 per cent when calculating the LDR for this purpose. According to the agency, although the measure would not tighten banks’ funding positions, it would be credit negative, as it was expected to “force some banks to take out potentially riskier loans to meet the minimum LDR.” it also predicted that more lending to the SMEs and consumers, borrowers that some banks judge as too small and too risky, would likely increase banks’ asset risk.

NEWS

THURSDAY, JULY 18, 2019

Nigerians Personal Well-Being Index drops further by 0.3pts - NOIPolls BY BONNY AMADI

ersonal well-Being index (PWBI) of Nigerians for the second quarter ended June 30, 2019 dropped further by 0.3 points, closing the period at 64.5 points. This reinforces the need for the government charged with the responsibility of ensuring that the wellbeing of the citizenry is optimum, to implement viable policies, such as family welfare, low income support, child support, amongst others, that will boost the well-being of Nigerians. The NOIPolls Personal Well-Being (PWBI) report, released yesterday for Q2, 2019 showed a decrease of 0.3–points in Q2, 2019 to stand at 64.5-points as against the value 64.8-points obtained in Q1, 2019. The PWBI is determined by the level of satisfaction of Nigerians on various components of their personal lives. The report showed that only two of the seven factors that comprises the PWBI experienced increase while the remaining five components experienced decrease in Q2, 2019. The highest increase experienced is in Economic Situation index which increased by 0.8-points to stand at 44.2-points in Q2, 2019 from the 43.4-points obtained in Q1, 2019. Also, the Personal Health index experienced a 0.6-point increase to stand at 76.5-points in Q2, 2019 from 75.9-points increase experienced in Q1, 2019. The Q2, 2019 report revealed a marginal 0.3 points decrease in the PWBI from Q1, 2019 to stand at 64.5-points. Breakdown of the seven key indicators that comprise the PWBI showed that Nigerians are mostly satisfied with their Personal Religion (88.3-points), Social Interactions (79.7-points), Personal Health

(76.5-points), and Personal Security (63.1-points) as they obtained points above average. However, the other indices remained average and below which suggest that Nigerians are not satisfied with these indicators; these include Standard of Living (50.9-point), Achievement in Life (51.0-points), Economic situation (44.3-points). The survey clearly show that Nigerians are not satisfied

with their Economic Situation as it remained the lowest in all the seven indices so far obtained although it experienced a marginal increase of 0.9-points to stand at 44.2-points in Q2, 2019. The report noted that with the decline in PWBI in Q2,2019, it becomes more vital for the government, charged with the responsibility of ensuring that the wellbeing of the citizenry is optimum, to implement viable policies (such as

family welfare, low income support, child supportetc.) that will boost the well-being of Nigerians. “’This is because happy people are likely to be friendlier, healthier, more cooperative and better citizens hence they are more likely to be productive and successful as well as likely to earn more income. For instance, studies has indicated that there is a high probability for people to be successful and contribute to the society when they are happier”

FG determined to stop importation of basic items - Buhari

resident Muhammadu Buhari yesterday in Abuja reiterated the determination of his administration to stop importation of basic items to create job opportunities for unemployed citizens across the country. The President stated this when he received leadership of the Nigeria Employers’ Consultative Association (NECA) led by its acting President, Taiwo Adeniyi, at the Presidential Villa, Abuja. He also revealed that the Federal Government had put in place various measures and sustainable platform for businesses to succeed in the country. Buhari said: “Nigeria is a blessed country with abundant resources. We have all it takes locally to meet our most basic needs. “Our history of unnecessary importation of the most basic items meant we were exporting jobs to other countries at the expense of

our own citizens. “This administration is determined and taking steps to bring these jobs back to Nigeria. Our policies are simply designed for that. “There is no doubt, the implementation of such policies will not be hitch free. As you have pointed out, there are challenges in some areas that need to be addressed. “I want to assure you that we are looking into these and other matters to ensure we have a sustainable platform for businesses to succeed.’’ The President, however, observed that the journey toward achieving this feat was a long one that requires patience, understanding and perseverance. He, therefore, enjoined members of the association to continue to engage government by providing honest and constructive feedback, saying “together, we can build a Nigeria that we will all be

proud of.’’ Buhari also assured that the Federal government would continue to do its best to support the members of the association in their efforts as employers of labour. In his remarks, Adeniyi revealed that, for over 60 years, NECA had been the voice of business on diverse issues aimed at improving the business environment for enterprises to survive and flourish in the country. He commended the President for signing Executive Orders 001, 003 and 007, which he said had improved the performance of the manufacturing sector and patronage of made-in-Nigeria products. Adeniyi also lauded Buhari for his support to the Real Sector through the Central Bank of Nigeria. Also for his refusal to sign the African Continental Free Trade

Agreement until the concerns of stakeholders were addressed as well as for assenting to the new National Minimum Wage Bill. Adeniyi, who later spoke to State House correspondents after the meeting, confirmed that over 70 per cent of members of the association had been paying the approved N30,000 new minimum wage to their workers.

pointed the NO1 PWBI Q2 report . It will be recalled that in February 2014, NOIPolls Limited introduced its portfolio of indices; the NOIPolls Personal Well-Being Index (PWBI), the NOIPolls Consumer Confidence Index (CCI) and the NOIPolls Eagle 30 Business Confidence Index (EBCI). The NOIPolls Personal Well-Being Index measures factors impacting the lives of everyday Nigerians; thereby producing a complete view of the individual’s personal well-being. The NOIPolls Consumer Confidence Index provides consumer assessments of the economic situation and their intentions and expectations for the future while The NOIPolls Eagle 30 Business Confidence Index measures business leaders’ perceptions and expectations about the Nigerian business environment using the top 30 companies in the country. Nigerian businesses, financial and government agencies largely depend on the perceptions and micro assessment of consumers’ expectation in making decisions. At best, they draw conclusions on the business environment based on information from their immediate surroundings, while the minorities conduct surveys that are time and money consuming. However, the introduction of these indices provides indicators that will ensure stakeholders can detect and respond to changes in consumer behaviour, the economy, and the business environment in Nigeria.

FINANCIALS

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

Corporate governance ethics: Need to monitor firms’ compliance status Some quoted companies have not been adhering the corporate governance ethics. In this report, NIYI JACOBS examines the implication of the recent suspension of some firms for violating the Nigerian Stock Exchange (NSE) requirements.

nvestors do not see the physical products such as shares and stocks of companies they are buying but rather take investment decision based on information about the companies that are issuing those shares and stocks. Having so much conviction and confidence in the information received from quoted companies coupled with investment advice from their stockbrokers, investors stake their funds in shares in the stock market. The importance of information to the market cannot be overemphasised. The NSE is not an exception. In a bid to stem the tide of corporate governance lapses in quoted companies, there are listing and post-listing requirements issued by the NSE and the Securities and Exchange Commission to be met by those companies. One of the major standard requirements includes regular dissemination of information about the financial performances and any changes that can affect their operations. Regrettably, some quoted companies have not been adhering to this corporate governance ethics, thereby keeping investors in the abysmal trance about their financial health, which had led many investors to taking wrong investment position by investing in moribund companies, which hitherto do not furnish the stock market with their financials. Lapses in adherence to these principles have contributed majorly to crisis in the NSE even as most countries have recovered from the global financial meltdown. Over the years, many stock brokers and other quoted companies have been violating this important obligation, thereby keeping investors in the dark about their financial health among others. Many ignorant investors have burnt their fingers by investing in some of the dormant companies, which do not furnish the market with their financials. Investors cannot forget in a hurry the unreasonable manipulation of share prices, which companies, in collaboration with some stock brokers, indulged themselves, a despicable practice that saw the market bubble to a peak on March 5, 2008, with market capitalization and index hitting N13 trillion and 66,371.20 points respectively only to reversed speedily to N6.957 trillion and 31,450.78 by December, 2008. However, the Exchange in keeping to its regulatory role recently wield the big stick by placing 11 firms on suspension following their inability to present their financials to the market for verification in the time stipulated by the Exchange. The suspension of the companies, which also showed the weak adherence to sound corporate governance, was part of NSE’s drive to sanitize operations in the equities market and further ensure investors’

Ms. Mary Uduk

confidence. The Exchange had notified the Securities and Exchange Commission (SEC), dealing members and the investment community of the suspension in trading in the shares of 11 listed companies over default in filing of accounts as at when due. In a notice obtained from NSE’s website, the Exchange said that pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”), which provides; “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; (b) Suspend trading in the Issuer’s securities; and (c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension” The NSE noted that the trading on the shares of the 11 listed companies have been suspended from trading via the facilities of the Exchange, effective from yesterday (Tuesday), 2 July 2019. The companies include FTN Cocoa Processors Plc, Goldlink Insurance Plc, Guinea Insurance Plc, Niger Insurance Plc, R.T. Briscoe (Nigeria) Plc, Resort Savings & Loans Plc, Royal Exchange Plc, Standard Alliance Insurance Plc and Universal Insurance Plc. “In accordance with the rules set forth above, the suspension of the above listed companies will only be lifted upon the submission of the rele-

vant accounts and provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange,” the Exchange in a statement signed by Godstime Iwenekhai, Head, Listings Regulation Department noted. The NSE in an effort to achieve a world class capital market has reiterated its commitment to maintain zero tolerance posture on dealing member firms and quoted companies on violations of rules and regulations. This on the back of the Exchange’s determination to shift gears to drive innovations centered on increasing global visibility for the Nigerian capital market in the current year. The Chief Executive Officer of the NSE, Mr. Oscar Onyema said re-

cently that the Exchange will sustain a zero-tolerance stance on dealing member firms and listed companies’ violations to help boost the confidence in the market. Onyema noted the Exchange intend to develop a larger footprint on the African continent and ultimately, targeting emerging market status, adding that it was the reason why it is very much in support of the WACMI efforts and similar programs. He noted that the improved regulatory environment and performance of quoted companies from 2012 till date, has positively impacted on stock market prices and overall market indices. According to the founder of National Coordinator, Independent Shareholders Association of Nigeria

The action is great and it shows that the new NSE management is alive to its responsibilities. Besides, it is a signal to the companies in particular and the capital market in general that it is no longer business as usual. We must always abide by the rules

(ISAN), Sir. Sunny Nwosu, going by what the Exchange said, the companies deserved to be sanctioned. He noted that the affected companies supposed to have ensured that they meet the requirements as such would help shareholders to understand their financial health for investment decisions. “It is not a new thing and it does not come to us as a surprise,” he said. “We have constantly written to the exchange and raised the issue at annual general meetings that there is need to know the status of these companies to enable us take investment position” He however, noted that the NSE was protecting more of its own interest rather than that of the investors, as the NSE placed the sanction due to fees owed it. The president of the Progressive Shareholders Association, Mr. Boniface Okezie reacting to the development said the sanction could have taken place long ago, adding that it was better for Nigerians to have few companies who are ready to play by the rules than to have all the companies in the world who are not ready to satisfy post-listing requirements. He said that placing the companies on suspension for non-compliance with the rules of listing on the NSE was a welcome development, as it would lead to more appropriate pricing of securities. He said more quoted entities would be compelled to give information to the market on a timely basis, adding that investors’ confidence in the regulatory capacity of the NSE and in the market would be enhanced. founding member of Nigeria Shareholders Solidarity Association and one of the leading shareholders’ activists, Alhaji Gbadebo Olatokunbo, said penalizing erring companies is a signal that it is no longer business as usual. “The action is great and it shows that the new NSE management is alive to its responsibilities. Besides, it is a signal to the companies in particular and the capital market in general that it is no longer business as usual. We must always abide by the rules,” he said. He noted that the sanction would make the companies sit up and post their results as at when due thereby providing investors, analyst and stockbrokers the platform to predict the real value of the companies. A developed capital market is a world class capital market and such market is one that engenders investor confidence, has breadth and depth in terms of product offerings, characterized by market integrity, sound regulatory framework, a strong and transparent disclosure and accountability regime, fosters good corporate governance and is fair, robust and efficient market place. Hence there is the need for regulators to tighten the noose on market infractions and other miscellaneous capital market crimes.

MONEY MARKET

THURSDAY, JULY 18, 2019

Customers embrace electronic payment as cheque usage decline

BY NIYI JACOBS

he decline in cheque usage resumed in June after heading north last month, latest data released by the Nigeria Interbank Settlement System (NIBSS) shows. According to the figures on cheque transactions last month released by NIBSS last weekend, the volume of cheque transactions dropped to 591.741 in June from 718.139 in the previous month. The NIBSS data indicates that the volume of cheque transactions fell in three out of the first six months of this year. For instance, the volume of cheque transactions, which stood at 712.191 last January, declined to 640.497 in February before rising to 653.032 in March. Also, the figure dropped to 638.248 in April, from which it increased to 718.139 in May, before falling to 591.741 in June. Although the foregoing data seems to send somewhat conflicting signals on cheque usage, analysts point out that NIBSS data in the last two years, in fact, points to a steady decline in cheque usage in the country. For instance, NIBSS “e-payments Fact Sheet for January-December 2018” shows that the to-

tal volume of cheques processed during the period stood at 9.0 million compared with 10 .81 million in the same period of 2017, indicating 20.11 percentage decline. The data further indicates that the total value of cheques processed between January and December last year dropped to N5.0 trillion from N5.38 trillion in the corresponding period of 2017. Similarly, according to the NIBSS data, the average daily cheques volume for last year declined to 24.71 million from 29.61 million in the same period of 2017. In addition, the data shows

that the volume of total corporate cheques processed in 2018 fell to 5.4 million from 5.8 million in the previous year. Also, the value of total corporate cheques processed last year dropped to N3.3 trillion compared with N3.5 trillion in 2017. Equally, the volume of total individual cheques processed during the period under review fell to 2.1 million from 2.43 million in the corresponding period of 2017. According to NIBSS, the value of total individual cheques processed last year was also down, standing at N0.8 trillion compared

with N0.83 trillion in the same period of 2017. Furthermore, NIBSS “e-payments Fact Sheet for January-March 2019” indicates that the volume of cheque transactions was down to 2.0 million compared with 2.48 million in the same period of last year. Similarly, the value of such transactions fell to N1.2 trillion in the first quarter of this year from N1.32 trillion in the corresponding period of 2018. This newspaper’s findings show that the decline in the use of cheques is largely due to an

With all the e-payment channels available these days, I hardly use my cheque book. In fact, I don’t know where I left the cheque book. Why would I need it when I can make withdrawals and also transfer funds from ATMs, POS and my mobile phone.

increasing number of bank customers preferring to execute transactions via electronic payment channels rather than through cheques. For instance, a management consultant, Mr. Samuel Onu, told this newspaper’s correspondent, that with the advent of digital banking, he rarely uses his cheque book these days. He said: “With all the e-payment channels available these days, I hardly use my cheque book. In fact, I don’t know where I left the cheque book. Why would I need it when I can make withdrawals and also transfer funds from ATMs, POS and my mobile phone.” He also noted that the need to issue cheques to family members, friends and business associates hardly arises these days, as most people prefer funds to be transferred to their bank accounts instead of accepting a cheque that would lead to them wasting valuable time in banking halls. However, analysts point out that cheques are not likely to become extinct anytime soon, as firms and corporations still depend on them as a major means of payment. Indeed, as a financial expert, who did not want his name in print, argued, cheques are the primary payment instrument that corporate account owners and some individuals can give, as an instrument for delayed payment that would make the beneficiary confident of getting payment at a stipulated date. Besides, there are indications that the disruptive technology, which has driven the growth of e-payments would soon positively impact the industry in such a way that it would lead to instant clearing of other banks’ cheques in the country, thereby boosting the use of the payment instrument. Still, given the digital revolution sweeping the global banking industry, analysts believe that there would continue to be questions over the future of cheques. A fortnight ago, Ghana’s Vice-President, Dr. Mahamudu Bawumia, predicted that the rapid evolution of Ghana’s electronic payment system could render cheques obsolete in the payment for goods and services in the West African country in the next five years. Also, in Nigeria, despite infrastructural challenges, the e-payments industry has been steadily growing in the last few years. According to data obtained from the Central Bank of Nigeria (CBN), the value of electronic payments increased by 39.7 per cent to N99.3 trillion in 2017 from N71.1 trillion in 2016.

NEWS

THURSDAY, JULY 18, 2019

Enugu Assembly to partner agencies over civil servants’ welfare The Enugu State House of Assembly has said that it will partner with relevant agencies to improve on the welfare of civil servants in the state. Mrs Jane Eneh, the Assembly’s Committee Chairman on Civil Service, Labour and Pension Matters, who is also the Chief Whip of the Assembly, made the assertion in Enugu during inauguration of her committee. Eneh said that having a motivated workforce would enable the workers contribute to the realisation of the transformation agenda of Gov. Ifeanyi Ugwuanyi of Enugu State.

The lawmaker, who is also the member representing Awgu North Constituency, said that Enugu State Government was doing their best in terms of workers welfare. The Chief Whip said that Enugu State workers were so favoured, adding that workers had been receiving their salaries on or before 24th of every month since 2015 that Gov. Ugwuanyi-led administration came on board. Eneh added that the committee would ensure that labour matters were resolved quickly and amicably to avoid dispute in the state. She noted that the payment of pension to retirees had been com-

ing as and when due. Eneh was a former Commissioner in Enugu State Independence Electoral Commission ENIEC, and had contributed to the successful conduct of last local government election in the state. While applauding the Speaker of the House, Chief Edward Ubosi, for the opportunity to serve the state, Eneh disclosed that she

would ensure that pensions and other entitlements would be paid to retired civil servants whom, according to her, had contributed to the development of the state. Earlier, the Speaker thanked civil servants for their efforts in ensuring that the government programmes and policies were implemented and urged them to sustain the tempo.

Ubosi said the committee chairman was capable of piloting the affairs of the committee based on her pervious experiences and contributions to the civil service sector of the state. The inauguration was witnessed by many dignitaries, including the state’ Head of Service, Mr Chidi Ezema and others.

Publisher tasks media practitioners on new challenges

he Publisher of the Cable online newspaper, Simon Kolawole, has charged students and practitioners of mass communication to raise their intellectual, professional and technological sophistication in order to conquer emerging challenges. Kolawole gave the advice yesterday in Ilorin while delivering the ninth edition of the Doyin Mahmoud Annual Lecture organised by the Association of Mass Communication Students, University of Ilorin chapter. According to him, media practitioners are faced with challenges that threaten their careers by the unhindered access of untrained hands who are manipulating modern communication gadgets to cause havoc. Kolawole said that future journalists must be prepared to face the challenges posed by the unabated transformation of information and communication technology and the attendant unregulated access to the information wave by the non-professionals who erroneously call themselves “citizen journalists”. He decried the pervasive negative impact of quacks on journalism profession and the image of trained professionals. Kolawole said that the ability of trained journalists to navigate difficulties and challenges would determine those who would go far in the profession. “We are going through a transition phase that is pushing the traditional media away from the center as a result of increasing global information and communication capacities and liberalisation. “This gives access to the untrained that, more often than not, prefer events to be seen and evaluated from his unprofessional approach by members of the unsuspecting public,” he said. While pointing out the enormity of repeated damages visited on the society and journalism by the activities of quacks, Kolawole said that “giving up is not an option and it can never be an option”.

He, therefore, challenged journalists, particularly the up-coming ones, to strengthen and sharpen their skills so as to take the driving seat of journalism from the quacks that had been unrelenting in their repeated and pervasive destructive tendencies. Kolawole also paid glowing tribute to the memory of the founding Head of the Department of Mass Communication, University of Ilorin, Doyin Mahmoud. He described the late Mahmoud as “a great professional, exemplary mentor, illustrious social engineer, uncommon talent hunt and impactful journalist”. The publisher noted that the annual lecture was a befitting memoriam to the late wordsmith in view of his distinguished contributions to the development of journalism in Nigeria. Speaking earlier, the Head of the Department of Mass Communication, University of Ilorin, Dr Lukman Azeez, said that the annual lecture was institutionalised by the students of the department to immortalise the late Mahmoud for his legendary contributions to journalism and mass communication training. According to Azeez, the department remains the best media training centre in contemporary Nigeria. In his remarks, the Director of Corporate Affairs, Kunle Akogun, allayed the fears of participants, particularly students, over the intimidating threat posed by untrained practitioners. He said ” journalism will never die” adding that aspiring journalists only need to be well-equipped in order to effectively ward-off the invasion of their profession by quacks. Earlier in his address of welcome, the President of the Association of Mass Communication Students, Mr Opeyemi Adesina, said the programme was to enlighten members of the association on emerging issues and trends in media practice.

Gov Ugwanyi

Investors’ frustration deepens over lack of policy direction

he local bourse continues its bearish run on the floor of the Nigerian stock exchange, a slump that underscores foreign investors’ frustration over lack of policy direction based on President Muhammadu Buhari’s failure to form a cabinet. “We are yet to see any major policy direction and foreign investors are not comfortable with that,” said Ayo Akinyele, an analyst at CSL Stockbrokers. “We don’t have a new minister of finance this is very critical to investors.” According to Bloomberg, Nigerian stocks have underperformed frontier-market peers. The Nigeria Stock Exchange All Share Index has dropped 10 per cent this year, compared with a 15 per cent gain in an index of frontier markets. The latest declines have pushed the 14-day relative strength index for the main stocks gauge below 30, a level that suggests the stocks may be poised for a recovery. Recent central bank step to push Nigerian banks to increase lending in a bid to boost the econ-

omy is also weighing further on sentiments. An index of local banking stocks has dropped 23 per cent from its 2019 high reached in February. “The circular from the central bank actually contributed — we saw significant sell-offs in some of the top banks,” said Ayodeji Ebo, managing director at Afrinvest Se-

Onyema

curities in Lagos. CSL’s Akinyele expects bearish sentiments to linger in the third quarter, potentially improving toward the end of the year. That will depend on which ministers Buhari appoints and on progress in implementing a new minimum wage and structural reforms.

FINANCIALS

THURSDAY, JULY 18, 2019

Investors in three days record N254.768bn equity investment loss BY BONNY AMADI

earish run of the Nigerian equities market entered the third straight day yesterday as the equities market value dropped N76.442 billion of its value. The Wednesday’s decline, was in addition to N110.046 billion loss posted on Monday and N68, 280 billion decline recorded on Tuesday, culminating to total of N254, 768 billion decline in three days. The Nigerian equities market sustained its bearish run, as the benchmark index declined by 0.59% to 28,042.80 points, following selloffs in bellwether stocks. Consequently, the month-to-date and year-to-date losses worsened to 6.42% and 10.78% respectively. Investors on Wednesday transacted total of 243,717,849.00 million shares worth N3, 887,398,168.70 trillion, exchanged in 3,449.00 deals. Equities market capitalisation declined further to N13, 666,673,062,956.91 trillion, from N13, 743,115 trillion which opened trading for the day, reflecting decline by N76,442 billion. The Nigerian equities market closed negative today as NSE-ASI lost 0.56% to close at 28,042.80pts. Similarly, market breadth index was negative with 26 losers against 8 gainers. To lead the decliners, Nestle lost N5 or 0.40 per cent to close at N1245 per share, followed by JBERGER that shed N1.95 or 9.77 per cent to close at N18 per share, while GUINNESS placed third on the chart with N1.5 or 3.16 per cent decline to close at N46 per share. UNILEVER lost N1 or 3.03 per cent, to close at N32 per share, while FLOURMILL of Nigeria closed the top five losers chart at N14 per share. However, the total volume of trades increased by 12.42 per cent to 243.72 million units, valued at N3.89 billion, and exchanged in 3,449 deals. GUARANTY was the most traded stock by value and volume at NGN2.27 billion and 477.51 million units respectively. Losses were evident across all sectors, sectoral performances showed that the NSE Banking Index closed down by 1.44 per cent, following the declines in UNITYBNK by 9.23 per cent, WEMABANK -6.67 per cent , FCMB -4.38 per cent, UBN -3.65 per cent, ACCESS-3.13 per cent and STERLNBANK’s 1.83 per cent share price decline. NSE Consumer Goods index dropped by 0.77 per cent, due to the losses in HONYFLOUR by -7.07 per cent, FLOURMILL by -4.11 per cent, GUINNESS by -3.16 per cent and UNILEVER by -3.03 per cent. NSE Industrial Goods Index lost 0.68 per cent, on the back of the sell-offs in JBERGER by -9.77 per cent, WAPCO’s -2.63 per cent,

The total volume of trades increased by 79.24 per cent to 175.62 billion units, valued at N2.14 billion, and exchanged in 3,111 deals. NESTLE was the most traded stock by value at N681.68million while WAPIC was the most traded by volume at 42.03 million units. and DANGCEM’s 0.29 per cent decline. The NSE Oil & Gas Index also shed 0.05 per cent driven by the losses in FO’s decline by -0.80 per cent and TOTAL’s -0.08 per cent. GUARANTY was the most traded measured by volume with 77,510,081million shares, worth N2, 269,210,085.60 billion, followed by FBNH with 29,467,823 million shares worth N163, 770,598.50 million, UBA placed third on the activity chart with 13,642,722 million shares worth N76, 504,498.60 million, ZENITHBANK posted 13,283,936 million shares valued N247, 415,431.25 million while LASACO closed the top five most traded stocks chart with 11,301,390 million shares worth N3, 923,203.06 million. Top gainers on Wednesday was led by UACN with N0.1 or 1.72 per cent, closing at N5.90 per share, followed by AGLEVENT, CHAMS, COURTVILLE and CHIPLC.

The equities market closed down midweek due to the losses in all sectors as market sentiment remains weak. Despite the recent losses, investors should take positions in quality names with a medium to long time investment horizon. Westafrica BusinessNews recalls that the Nigerian equities market on Tuesday July 16, 2019, sustained its bearish run, as the benchmark index declined by 0.49 per cent to 29,712.90 points, the lowest since the 23rd of May, 2017. Consequently, the month-todate and year-to-date losses on Tuesday worsened to 5.89 per cent and 10.28 per cent respectively. Top traded stocks which mostly spanned across the banking sector and the conglomerates offered investors opportunity to diversify their portfolios, even as the stocks were traded at discount from the previous rates. FBNH led the most traded

chart with 46,757,346 million shares, worth N266, 240,751.80 million, followed by COURTVILLE with 46,739,833 million shares worth N9, 464,297.75 million, while UBA recorded 24,173,874 million shares valued at N136, 494,386.25 million. TRANSCORP placed fourth on the activity chart with 12,404,800 million valued N12, 482,394.55 million, while ZENITHBANK closed the top five most traded stock with 10,972,490 million shares worth N204, 035,800.60 million. However, the total volume of trades on Tuesday increased by 23.96 per cent to 217.13 million units, valued at N1.80 billion, and exchanged in 3,595 deals. STANBIC was the most traded stock by value at N389.26 million while FBNH was the most traded by volume at 46.76 million units. Analysing sector performances, the Industrial Goods dropped 2.16 per cent, Oil & Gas index by -0.97 per cent, and Banking index (-0.78 per cent indices declined, while the Consumer Goods (+0.54%) and Insurance (+0.06%) indices rose. The most traded stocks also recorded remarkable declines on their share price , STANBIC IBTC lost N0.5 to close at N39.50 per share, UBA declined by N0.15 to close trade at N5.70 per share, while FBNH shares depreciated further by N0.25 to close trade at N5.60 per share. TransCorp share price declined by N0.03 to close trade on Tuesday at N1,03 per share. The equities market on Tuesday extended its losing trend

by N68,280 billion, as the market which opened the day at N13,811,995 trillion , closed at N13,743,715 trillion, reflecting N68,280 billion loss. Thus the loss for the two days of trading this week buoyed to N178, 326 billion, hence in addition to the N68, 280 billion decline on Tuesday, and market opened the week on Monday with N110,046 billion loss in equities market capitalisation. Market sentiment, as measured by market breadth, was negative by 0.32x as 31 tickers recorded losses relative to 10 gainers. On the decliners list, CAP (-10.00%) and CCNN (-10.00%) recorded the largest losses, while REDSTAREX (+9.81%) and LASACO (+9.68%) led the gainers’ list. Top gainers on Tuesday were NESTLE with N22 or 1.79 per cent growth to end at N1250 per share, followed by REDSTAREX,GUARANTY, NB and DANGCEM. Decliners chart was led by OKOMUOILwhich closed at N55.8 per share, having lost N6.15 or 9.93 per cent, followed by CAP’s N2.75 or 10.00 per cent loss, FO that closed at N18.65 per share, having declined N2.05 or 9.90 per cent. CONOILlost N1.95 or 9.56 per cent, while FLOURMILL closed at N14.6 per share, following decline by N1.6or 9.88 per cent. Outlook for equities in the short to medium term remains conservative, amidst the absence of any catalyst to drive positive market returns.

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

STOCK TABLE

THURSDAY, JULY 18, 2019

Still on Farmers and Floods

A THE TEAM Publisher Westafrican Business Newspapers Ltd. EXECUTIVE EDITOR Enyi Moses, Esq NEWS EDITOR Bonny Amadi EDITOR, SPECIAL REPORTS Julius Alagbe AG. BUSINESS EDITOR Niyi Jacobs CORRESPONDENTS David Ayodeji Goddy Obinwa Clifford Agbajor Amanda Mella, Abuja DEPUTY ADVERT MANAGER Tope Adesiyan, arpa ADVERTS Oniovosa Diejomaoh Rita Azita PRODUCTION EDITOR Emmanuel Nwagbo PRODUCTION Akintunde Akinsanmi Mrs Yetunde Ogunlowo HEAD, IT Chinonye Moses PHOTO EDITOR Sunday Adesanya CIRCULATION MANAGER Chidi Ephraim LOGISTICS Akan Ekwere SALES Victoria Nnake

NEWSROOM 08186867775 letters@wabusinessnewsng.com ADVERT HOTLINE 07015151515 letters@wabusinessnewsng.com

s the country gradually itches towards rainy season, all the woes and cries experienced by farmers, whose farmlands were destroyed by floods last year begins to play back. Like a vicious cycle, the floods will return and farmers wil go through again the excruciating pains of losing all the fruits of their labour to rampaging floods. Last year was no exception, Adamawa chapter of Rice Farmers Association of Nigeria (RIFAN) will not forget in a hurry how rice farms in 18 out of 21 local governments in the state, were submerged. Their cries revolved around how to repay bank loans which financed the operations. O k p o t u w a r i and Ondewari communities in Southern Ijaw local council areas of Bayelsa state are still counting their losses after 500 rice farms were submerged and washed away. The agonies resonate from all parts of the country. Shanga and Yauri communities of Kebbi state are yet to get over the pains of 2,100 rice farmlands de-stroyed by floods in 2018. From Kano state, RIFAN says flood destroyed over 5,000 hectares of rice farm in ten local governments of the state. In the same vein, seven communities in Etsako Central Local Government areas of the Edo state were

Audu Ogbeh

overran by rampaging flood from River Niger submerging hundreds of houses and farmlands. The story is the same in Calabar, Uyo, Imo, Delta, Ebonyi. In Ananmbra communities of Ogbaru, Umuleri, Aguleri, Nando their tears are yet to dry from devastations arising from floods were River Niger overflowed its banks. It’s the same storyline from Oguta people and Ebonyi people whose rice farms were washed away from floods.

Experts estimate the nation’s agricultural loses at about N20 billion annually. These loses could have been mitigated had insurance companies come up with policies to cover farmers. Yearly, insurance post dismal performance due to their inability to be creative in coming up with prod-ucts fitted for farmers. There is a silver lining behind every challenge. Companies exist to offer prod-ucts and services. If the insurance companies in the

Like a vicious cycle, the floods will return and farmers wil go through again the excruciating pains of losing all the fruits of their labour to rampaging floods.

country are able to cover farmers the economy will be better for it. Most insurance companies in the country are not doing well due to their inability to seize the gaps in the economy. We urge insurance companies to deal with poultry associations, rice farmers’ associations, cocoa farmers, palm tree farmers and many of such groups and come up with policies to protect them. Farmers on the other hand, need to aggregate themselves into groups and form cooperatives to ena-ble insurance companies capture them easily. The federal ministry of agriculture as well as state ministries of agriculture should be interested in organizing farmers into clusters for easy identification. With cluster groups, it becomes easy for government at all levels to reach out to farmers for easy distribu-tion of fertilizers and farm tools.

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

Ondo to pull down illegal structures in Ore Market T o ensure sanity, the Ondo State Government has vowed to pull down all illegal structures in Ore Market to ensure safer and more hygienic environment. Olatunji Ifabiyi, the Special Adviser to Governor Oluwarotimi Akeredolu on Commerce, Industry and Cooperatives, said this yesterday during an inspection of Ore Market in Odigbo Local Government area of the state. Ifabiyi said that the state government had decided to take drastic measures to ensure that sanity was restored to the market. He said that government would not condone disorderliness and unhygienic activities in the market environment. According to him, people must engage in economic activities under convenient and conducive environment. “We are what we eat, they say. But it appears the market men and women at Ore Market

are nonchalant towards hygiene. “People have caused unnecessary expansion to the market by erecting all manners of illegal structures and thereby blocking free human and vehicular movements. “Bottles are blocking the drains because of indiscriminate dumping of refuse which, in turn, generates bad odour and they are even displaying goods on outlet and inlet roads,” he said. The special adviser said that the visit was to sensitise the traders that “dirt breeds germs and germs breed diseases”, adding that it would no longer be business as usual. Ifabiyi, who implored the traders to pay up what they owed for the lock-up shops and “ensure the market area is always clean”, promised to revisit the market with task force personnel in a bid to restore sanity to the environment. Raji Sikiru, The Special Assistant to the Governor on Market Matters, said that

stakeholders should take care of the market, adding that the government would fast track the rehabilitation of the market. Responding, Chief Temitope Ijimiga, the Babaloja of Ore Market, thanked the special

adviser for his visit and lauded the state government for its noble plans to develop the market. Mrs Eniola Ogunlana, the Iyaloja of the market, said she was elated that the market

would wear a new look soon. She advised the traders to cooperate with the task force officers to hasten the development and changes to the market.

200 IDPs get two-bedroom bungalows in Yobe

o fewer than 200 Internally Displaced Persons (IDPs) in Gujba Local Government Area of Yobe State , have received a two-bedroom bungalow each, constructed under an existing partnership with the state Agency for Community and Social Development (YSACSD). Some beneficiaries of the partnership made this known in

separate interviews with newsmen in Buni Yadi. They said that the initiative had greatly enhanced their resettlement and recovery in their respective communities. Malam Yusuf Ahmed, an IDP who fled Buni Yadi to Damaturu, said his house was razed while he was away and had nowhere to put his family when he returned, but was supported by the

agency to build a two-bedroom bungalow. “YSACSD came up with this support that individuals should provide five per cent contribution while it provides the balance of 95 per cent to build a twobedroom house to the benefiting IDPs. “This was done in a group of 10 people who provided five percent either in cash or build-

Airforce appoints new branch chiefs, redeploys others

he Nigerian Air Force (NAF) has appointed new Branch Chiefs, redeployed two Air Officers Commanding (AOCs) and other senior officers. Air Commodore Ibikunle Daramola, NAF Director of Public Relations and Information announced this in a statement yesterday in Abuja. Daramola described the appointment and redeployment as routine exercise aimed at ensuring operational efficiency and effectiveness. He named the newly appointed branch chiefs

as erstwhile Air Officer Commanding (AOC), Special Operations Command (SOC), AVM Napoleon Bali, who is now the Chief of Policy and Plans (COPP) NAF Headquarters. According to him, AVM Paul Dimfwina is now the Chief of Communication Information Systems (CCIS), HQ NAF. “The new AOCs include the former Commander Air Task Force (ATF), Operation Lafiya Dole, AVM James Gwani who has been moved to SOC, Bauchi as AOC and AVM Charles Ohwo appointed as AOC Tactical Air Command (TAC), Makurdi.

Also redeployed are AVM John Baba as Chairman Air Expo and International Liaison Secretariat, AVM Idi Lubo, Director of Operations at NAF headquarters, AVM Christopher Umolu, Coordinator Project Implementation and Monitoring Team HQ NAF and AVM Maxwell Nnaji, Director of Safety Manual, Defence Headquarters. The spokesman said Air Commodore Precious Amadi is now the Commander ATF Operation Lafiya Dole. All the appointments will take effect from tomorrow .

ing materials or labour, and the agency provides the 95 per cent balance to build the houses. “The Agency also allows the group to execute the projects either through direct labour or pick contractors of their choice,” Yusuf said. Bukar Ali, another beneficiary, said the partnership and five per cent contribution paid by beneficiaries made them to be more committed and owned up the projects. “We executed our houses through direct labour and ensured that adequate materials were used to ensure quality was not compromised. “The Agency also supervised the construction to ensure we lived up to the terms of agreement before they released the resources which were paid in installments as the work progressed, ” he said. Abdu Musa, another beneficiary, said “in view of our situation and the opportunity given to us by the agency, we wasted no time in constructing the houses. “Unlike government contracts, these were speedily executed for us to have shelter over our heads, and we are now proud owners of houses through this partnership with the agency.”

Maisaje Yusufari, YSACSD Projects Officer, said the agency supported 30 IDPs in Dadingel, 30 in Bulturam, 40 in Buni Gari, 20 in Ngaburawa, 50 in Buni Yadi, and 30 in Goniri communities. “The agency in collaboration with some communities have jointly reconstructed health centres, schools and boreholes destroyed by insurgency,” he said. According to the official, groups contribute five per cent for every project and communities contribute 10 per cent while, the agency support the projects with 95 per cent for group and 90 per cent for community projects. “Under this arrangement, the agency has expended more than N1.07 billion on 84 community projects and group projects for IDPs, persons with disability and vulnerable groups in the state from 2016 to date,” he said. 209 blind men and women have been supported with funds to procure walking sticks and talking watches. Mai Yaskuma, leader of visually impaired persons in Buni Yadi, said the collapsible sticks guide them for easy movements while the talking watches give them the idea as to the time of the day.

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

Eko Disco begins free feeding programme for pupils within network

he Eko Electricity Distribution Company (EKEDC) yesterday began free feeding initiative for pupils within its network as part of its Corporate Social Responsibility (CSR). Adeoye Fadeyibi, the Chief Executive Officer of EKEDC, said the company was partnering with an NGO called “Food for Thought” to administer free lunch on daily basis to the pupils. The company started the pilot phase of the school feeding with 110 pupils of the Anglican Girls Seminary School, Broad Street, Lagos Island. Fadeyibi said the programme was centered around making life comfortable for them by providing a meal per day for one year. “We decided to start with the Anglican Girls Seminary School to demonstrate our good intentions as part of our CSR to Nigerians and to pupils within operations. “We are not the only company or people doing this, lots of individuals are also doing it quietly to feed pupils

and other Nigerians,’’ he said. The EKEDC helmsman, however, assured the people of the sustainability of the project through the NGO, to ensure conformity and transparency. “It is not about the amount invested but the good intentions involved to impact in the lives of our great pupils. “We are happy for committing enough funds and we also look toward more corporate organisations and individuals to join.’’ He, however, commended customers of the company for their effort in ensuring payment of bills, while urging them to ensure prompt payment of bills to keep the free food initiative going. Miss Mary Dinah, Chief Charity Officer, Food for Thought, lauded the management of Eko Disco for the kind gesture in ensuring free food to over 100 pupils in Anglican Girls School. Dinah said that the initiative was about feeding the poor children in local schools, especially in the Lagos Island. She said the NGO started its free feeding initiative in 2017 in

some random schools but this is the first time the organisation is commencing daily feeding to school. According to her, we take the responsibility to feed all pupils at the Anglican Girls Seminary School with the support of EKEDC. “We are also partnering the

Lagos State Government and United Nations for effective monitoring and proper administration,’’ she said. Contributing, Mayegun Moshood, the Education Secretary, Lagos Island Education Authority, also commended the initiative and support of EKEDC and Food

for Thought. Moshood said the initiative would go a long way to reduce the suffering of their parents and also reduce their expenses. “We will ensure adequate transparency and effective administration of the food to the pupils,’’ he assured.

Parents urge end to SSANU, NASU strike S ome parents in Oyo State have appealed to the Federal Government and striking unions in Federal Universities to resolve the lingering crisis that has crippled academic activities since its commencement on Monday. Members of Senior Staff Association of University, and Non Academic Staff Union (SSANU, NASU) on Monday embarked on a three day warning strike to press home their demands. Top of their grievances are the exclusion of its members from the workings of the National University Pension Company (NUPENCO), solely operated by the Academic Staff Union of Universities (ASUU). Others are the allocation of the 80 per cent of the money released by the federal government as earned allowances to ASUU while the three nonacademic unions got 20 per cent. The SSANU and NASU operating under the Joint Action Committee said they were rejecting the 20 per cent earned allowance allocated to them. They however, called on the federal government to, as

a matter of urgency, release the N30 billion to the non teaching staff as earned allowances for the period of 2009 and 2016. Some parents, who reacted to the industrial action, told NAN in separate interviews that government must quickly intervene to resolving the impasse. A retired principal, Mrs Mutunrayo Adisa, appealed to the Federal government to call for a peace meeting with the

leadership of the striking unions. “I commend several efforts of the federal government in the education sector, but this time, call for a very serious concern because we already have several challenges. “I want to passionately appeal that all stakeholders get to the round table as soon as possible to resolve this crisis. “Already, we have security challenges, we cannot afford to let our higher institutions

students be out of the academic environment for now; I appeal that we get the unions back to work soon,” she appealed. Also speaking, an educationist, Mrs Olaide Azeez, appealed for amicable resolution of the crisis. “I hope this is resolved early, when I hear of strike in our tertiary institutions, I get scared because it could be protracted beyond imagination. “My appeal goes to the

Federal government and the unions, I know they have the right to their demands and the government must also respect agreement but in the middle of all this are the innocent students,” she said. A unionist, Olayinka Ajao, also appealed for quick resolution on the matter, saying incessant industrial action had impacted negatively on the nation’s education system.

NDLEA arrests 52 suspected drug traffickers in Niger

he National Drug Law Enforcement Agency (NDLEA), Niger State Command, has arrested 52 suspected drug traffickers across the state with substances suspected to be cannabis sativa and psychotropic drugs. The Commander of the agency in the state, Mrs Sylvia Egwunwoke, told reporters in Minna on Tuesday, that the arrests were made in the first half of year 2019. “We have so far succeeded in convicting 27 persons while the remaining cases are pending at the courts.

“The agency will not relent in frustrating the activities of drug peddlers and traffickers in the state, and the nation at large,” Egwunwoke said. She appealed to the public to always report any suspicious activity or individual to relevant authorities to enable the agency to rid the state of drug trafficking and its attendant crimes. ”We have reached out to traditional and religious leaders to mobilise residents to volunteer information on those engaging in illegal drug business in their neighbourhood,” the commander said.

Property & Environment

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

Senate wants construction standards enforced to check building collapse

orried over the rising cases of building collapse, the Senate has urged regulatory agencies in the building and construction sector to ensure full compliance to standards required for construction of buildings in the country. The call followed a motion of urgent public importance on the massive building collapse and flood in Jos metropolis in Plateau. The motion was brought by Istifanus Gyang (PDP-Plateau) under Order 42 and 52 of the Senate rules. Gyang said the massive building collapse and flooding in Jos metropolis had resulted in the death of 15 persons. According to him, three people were killed in the flood, while 12 people were left dead in the building collapse. He said the recurring building collapse across the country was obviously due to non-adherence to standards of building rules by developers. He said more worrisome was

an issue of compromise of some regulatory agencies in enforcing the building standards. In his contribution, Lawrence Ewhrudjakpo (PDP-Bayelsa) appealed to his colleagues to support the motion. He said the Senate should ensure that regulatory agencies issue necessary approvals for building to developers. This, he said, would mitigate the issue of cutting corners by the developers and regulatory agencies. Consequently, the Senate resolved to urge the regulatory agencies to enforce stipulated standards on all property developers. It also urged the National Emergency Management Agency (NEMA) to upgrade its capacity in terms of prompt response to disasters. Besides, the red chamber also enjoined NEMA to give relief materials to the affected people in Jos. The Senate further observed a minute silence for the victims.

Agency warns Osun residents against indiscriminate dumping of refuse

o prevent flooding, THE Osun State Waste Management Agency (OWMA), has warned residents to stop indiscriminate dumping of refuse, especially in the waterways and channels. Femi Ogunbamiwo, the Acting General Manager of OWMA gave the warning in an interview with reporters in Osogbo. Ogunbamiwo said that indiscriminate dumping of refuse could lead to outbreak of diseases, apart from causing flooding due to blocked waterways and channels.

“Refuse will block the flow of water leading to flooding and loss of lives and property. “Dumping of plastic or cellophane wastes into waterways and canals indiscriminately causes flooding because these wastes block the water ways when not properly disposed of. “However, as part of the statutory duty of the agency, we regularly send out officers to arrest people who dispose their wastes in places not designated for refuse disposal. “According to the laws of OWMA, dumping of refuse indis-

criminately is an offense punishable by imprisonment or a fine of N25, 000 or both, or as however deemed fit by the court. “Our officers are always out to sensitise and arrest those acting against environmental laws; this is to deter indiscriminate refuse

disposal and as a way of keeping Osun clean,” he said. Ogunbamiwo said registered Private Sector Participation (PSP) operators were available in the state to pick up or collect wastes for proper disposal, while calling on residents to patronise them

and pay them for their services. “We ask residents to give government all the needed support to prevent outbreak of diseases and flood disaster, while we also call on them to always patronise PSP operators when disposing wastes.”

NEMA distributes relief materials to flood victims in Edo

ational Emergency Management Agency (NEMA) yesterday said

the agency had started the distribution of relief materials to over 3,148 affected farmers during the 2018 flooding in the state. Ifeanyi Omeje, the supervisor of the distribution project in Edo, said this in a statement by Akpofabe Joseph, the agency’s Information Officer in Port Harcourt. Omeje said that the project was the initiative of the National Food Security Council in collaboration with Stakeholders for Transparency, an initiative of President Mohammadu Buhari’s administration to ensure food security. The initiative is also to reduce food shortage in the country and increase per capita income of the affected farmers in the country. He said that the materials would be distributed across the three local government areas that were heavily affected, namely Etsako East, Etsako Central and Esan South-East. The supervisor said that the

first phase of the exercise started with the distribution of farm seedlings and agro-chemicals to Etsako Central LGA of the state. Some of the seedlings and agro-chemicals worth millions of naira being distributed to beneficiaries include yam seedlings, rice, cassava, sprayers and different agro-chemicals. Omeje advised the beneficiaries to make good use of the materials to improve their farming. Chief John Musa, the Paramount Ruler of Osomogbe in Edo State , who was also one of the beneficiaries, commended NEMA for the initiative, saying that the community had lost hope of getting any assistance from the government after the 2018 flooding. He applauded the President Buhari –led administration for the gesture and promised that the community would utilise the inputs effectively to get better harvest at the end of the season.

COMPANIES & BRANDS

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

Nigeria’s population can drive Fourth Industrial Revolution - Experts

ome experts at the Information and Communications Telecommunications (ICTEL) Expo 2019 on Wednesday said that Nigeria had the population to build the Fourth Industrial Revolution. Sqn. Ldr. Adefola Amoo, Chief Executive Officer, Grid Code, stated this at the ICTEL Expo 2019 held in Lagos on Tuesday. Amoo said the country with a population of about 200 million and 90 million Internet users could build the Fourth Industrial Revolution. The theme of the fifth edition of the expo was: “Fourth Industrial Revolution: The Nigerian Story’’. Amoo said that Nigeria was in a much better position to generate data for businesses that could generate income. According to him, we are not being deliberate because we have a population that can build the Fourth Industrial Revolution that will generate the whole Gross Domestic Product (GDP) by making use of the data around. “Clearly, the Fourth Industrial Revolution products which are

Artificial Intelligence, Internet of Things, among others, can be financially worthy. “Nigerian Communications Commission should be most credible and in a much better position to generate data for business. “There is need to train people with sufficient interest in data science,’’ he said. In his presentation on “Artificial Intelligence for Green Smart City Development’’, David AdioMoses, a Lecturer at the University of Lagos, said that a city could be defined as “smart’’ through investments in human and social capital. Adio-Moses said investments in human, social, traditional and modern (ICT) communication infrastructure would boost sustainable economic development and high quality of life. According to him, a smart city uses digital technologies or Information and Communications Technologies (ICT) to enhance quality and performance of urban services. He also said a smart city would also reduce costs and resource consumption and engage

more effectively and actively with its citizens. He, however, identified eight key aspects that defined a Smart

City: smart governance, smart energy, smart building, smart mobility, smart infrastructure, smart technology, smart healthcare and

smart citizens. The Expo was organised by the Lagos Chamber of Commerce and Industry (LCCI).

Enugu councils benefit from water project -WaterAid

aterAid has disclosed that its collaboration with Coca Cola Foundation and Replenish Africa Initiative (RAIN) has resulted to large scale water project in five local government areas in Enugu State. The WaterAid Country Director, Dr ChiChi Aniagolu-Okoye, made this known in a statement yesterday in Abuja. Aniagolu-Okoye said that the communities that benefited from the project are Nsukka, Ezeagu, Uzo-Uwani, Isiuzo and Enugu South local government areas. She said that the organisations spent N300 million on the project, adding that the effort would provide access to sustainable clean water, decent toilets and sanitation to the communities. The country director noted that the project would provide sanitation and hygiene services to over 10,000 residents in the communities. According to her, the adverse consequences of lack of toilet facilities on health and socio-economic wellbeing are glaring. “There can be no development in any community or nation without access to these basic services and progress in the achievement of Sustainable Development Goal (SDG) 6. “This project will go a long way in improving the lives of so many people as well as to contribute to the state’s economic development,” he said. Aniagolu-Okoye said that the scope of the project would provide about 2,250 people per day with access to clean water, refurbish 15 boreholes and construct five boreholes to the communities. She said that an estimated 5,000 households would also receive toilet facilities along with

small scale water service programmes designed to empower women in the communities. Clem Ugorji, the Public Affairs and Communications Director (RAIN), said that the projects were necessary to catalyse and improve the lifestyle and wellbeing of those in rural areas. “Our commitment to the

SDG goals is both in principle and in practice and has been so for decades. “We ensure we practice what we preach by being careful stewards of such a scarce resource as water. “Our strategy is to look for smarter ways to produce such that our water footprint is signifi-

cantly reduced. “We also ensure that our business system leverages on recycling technology to eliminate all forms of water wastage. “Finally, under our RAIN programmes, we commit to return 100 per cent of the water we use in our products back to nature, while protecting watersheds and

preserving aquifers. “This is why we have invested along with our partners this significant sum, which we believe very shortly, will begin to yield positive and impactful results in Enugu,’’ he said. Ugorji, however, said that the project was expected to be completed within 18 months.

Lagos orders transport unions, traders to leave Lagos-Badagry, Oshodi-Abule Egba corridors

iting lawlessness, the Lagos State Government yesterday gave six days ultimatum to all transport unions and roadside traders to relocate and remove their illegal structures on Lagos-Badagry Expressway and Oshodi-Abule Egba BRT corridors. Dr Taiwo Salaam, Permanent Secretary, Ministry of Transportation, made the disclosure at a news conference in Lagos, alongside an ad hoc committee from the Ministry of Works,

Lagos Waste Management Authority (LAWMA), Lagos State Traffic Management Authority (LASTMA), Taskforce and others. Salaam said the clean-up and recovery of Right of Way in the affected corridors would commence next week Tuesday. “Market men and women, members of road transport unions and other road users are enjoined to desist from needless abuse of the roads, right of way as well as road set-backs.

“It is disheartening to say that the state of the two roads is that of total lawlessness through the activities of traders who have converted BRT corridors to trading centres. “Also, is the illegal activities of oil barons and gangs, especially at Eric Moore where they have are using the corridor as their base. “Thus, pursuant to the Executive Order, the public is hereby intimated of the plans of the state government to clean up

Group charges NYSC on skill start-up loans for graduates

Pan-African student group, Progressive Students Movement (PSM), has advised the National Youth Service Corps (NYSC), to get a Start-up Loan for graduates undergoing skills training in the scheme. The President of PSM Nigeria, Bestman Okereafor, made the appeal in a statement made available to the newsmen yesterday in Enugu. Okereafor noted that the corps

members should consider helping every Nigerian graduate with at least N1 million as Start-up Loan for skill enhancement. According to him, this is to enable them practice the entrepreneurial skill that they had acquired during the orientation course. “Nigeria has no fewer than 20 million unemployed graduates and our institutions keep producing millions of fresh graduates

yearly. “We have no doubt that this idea, when adopted, will go a long way in reducing the increasing number of unemployed Nigeria graduates,’’ he said. Okereafor also advised the NYSC authorities to pay more emphasis on challenges of welfare, accommodation and security faced by corps members on daily basis in the discharge of their one year service year.

roads and recover the Rights of Way in these areas. “Of equal importance is the environmental regeneration of the entire stretch of the road which has been taken over by shanties, refuse and vegetal nuisances,’’ he said. Salaam said the plan to open the BRT corridors on the already completed segments of the roads would expectedly improve public transportation on the corridors. He said the plan to upgrade the road would provide a boost for trade and commerce, enhance tourism and generate more jobs for the people. “Also, social life of the people will improve while traffic induced crimes will reduce to the barest minimum, if not totally eliminated. “Also, stress provoked health challenges will equally scale down, while value of properties along the corridor will attract commensurate value,’’ he said. Governor Babajide SanwoOlu had on May 30, signed an Executive Order on zero tolerance to indiscriminate refuse dumping, traffic management and public works.

BUSINESSNEWS 22 WESTAFRICA THURSDAY, JULY 18, 2019

COMPANIES & BRANDS

MTN Group appoints Yolanda Cuba, Group Chief Digital, Fintech Officer

TN Group has announced the appointment of Yolanda Cuba as Group Chief Digital and Fintech Officer. MTN Group said in a statement, said that Yolanda joins the MTN Group Executive Committee reporting to the Group CEO Rob Shuter. ‘’In this role Yolanda will lead the Group’s strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator. ‘’Yolanda brings extensive telecommunications and leadership experience to MTN Group. She joins MTN Group from Vodacom, where she

served as Chief Officer of Strategy and M&A. She was previously the CEO of Vodafone Ghana for a three-year period, a role that saw her named Telecom CEO of the Year in 2018. “This role gives me the opportunity to drive digital innovation and financial inclusion across the Group’s vast footprint. I’m really looking forward to the new challenge and being part of the MTN leadership team”, said Yolanda. Rob Shuter said, “We are very pleased to bring an executive of Yolanda’s calibre into MTN Group. Yolanda is a highly qualified and experienced executive,

with a unique combination of operational telecommunications experience as well as finance, financial services and digital skills. I am confident that Yolanda’s leadership will place us in good stead as we intensify our efforts to build a digital ecosystem and scale our fintech offering across our markets”. ‘’Under Yolanda’s leadership, MTN will continue to progressively grow the fintech and digital opportunities in Africa as we see these areas as major drivers of our BRIGHT growth strategy. Yolanda’s start date will be communicated in due course.’’

Cuba

Association wants budgetary allocation to health sector raised

he Nigerian Optometrists Association (NOA) has urged the Federal Government to increase annual budgetary allocation to the nation’s health sector toward solving some of the challenges facing it. Dr Ozy Okonokhua, the National President of the association, made the plea yesterday while addressing journalists on preparation for the association’s national conference holding in Calabar from July 18 to July 20. Okonokhua said that problems in the health sector were surmountable, especially if the three tiers of government could carry out the needed reforms in the sector. “The Federal Government should increase the yearly budgetary allocation to the health sector. “The current budgetary allocation to the ministry is not enough to address the current challenges facing the sector. “We also believe that the appointment of Minister of Health should not be limited to medical doctors alone, because we have other professionals in the sector. They should be considered too. “Furthermore, governments should establish more primary healthcare centres in the rural areas across the country and involve optometrists to reduce avoidable blindness in the rural communities,” he said. The president of the association expressed concern over the neglect of optometrists in government hospitals in the country. He said optometrists were not being fully utilised in the hospitals, adding that this was not in the best interest of the patients. “Activities of optometrists should be made to function properly.

“The normal thing is that as soon as a patient enters the hospital, the first thing is to undergo an eye test before any other diagnosis. “But today in our hospitals, nobody cares about eye checks, except when patients are on referral,” Okonokhua said. He advised Nigerians to desist from patronising quacks so as to avoid going blind due to carelessness. Okonokhua said that the eye was very delicate and could eas-

ily be damaged by activities of quacks. He added that the association was doing its best to rid the profession of quacks. “We advise the public to always seek the services of qualified optometrists whenever they notice any problem rather than partronising a quack whose interest is money,” Okonokhua said. He said that the association was planning to set up a task force to check quackery across

the 36 states and the Federal Capital Territory. In April 2001, Heads of State of African Union countries met and pledged to set a target of allocating at least 15 per cent of their annual budget to improve the health sector. Since the declaration, Nigeria has not attained the pledged funding benchmark as the Federal Government has never voted more than six per cent of its annual budget to the health sector.

The highest percentage since the declaration was in 2012 when 5.95 per cent of the budget was allotted to health. In the 2018 budget proposal, President Muhammadu Buhari, allocated N340.45 billion, representing 3.9 per cent of the N8.6 trillion expenditure plan to the health sector. The allocation is less than the 4.16 per cent and 4.23 per cent made to the health sector by the administration in the 2017 and 2016 budgets.

Lagos Dep. Gov. urges students to join uniformed clubs to reduce vices

L of

agos State Deputy Governor, Dr Obafemi Hamzat, yesterday urged students primary and secondary

Hamzat

schools to join uniformed clubs in their schools to channel their youthful strength towards impacting the society positively.

Hamzat made call while receiving the members of Lagos State Council of the Scout Association of Nigeria who visited him in his office at Alausa, Ikeja. He said that most youths who indulged in crime and other vices did so because they were not challenged early in life to engage in positive activities that would enable them to impact their society positively. “Uniformed clubs have been veritable tools through which vibrant children were being utilised positively over the years for the good of their future and humanity. “I called on Nigerian youths to always seek means of making the society better by shunning all forms of gangsterism and crimes,” Hamzat said. Earlier, the Commissioner for the Lagos State Scout Council, Oyeyemi Adebesin, who led the team, appealed to parents to give better attention to the upbringing of their children and wards. Adebesin said that some chil-

dren got involved in vices due to parental negligence. “It was the responsibility of parents to monitor and know the kind of friends their children keep to shield them from negative peer pressure. “And the truth is that if we do not play our roles as parents now, the repercussions will wait for us in the future. “As a voluntary organisation, we will continue to do our best to educate these children and youths by inculcating the right virtues and discipline needed to make them responsible adults in the country,” he said. Adebesin also announced that 230 Nigerian students would be participating in the 24th World Jamboree in West Virginia, U.S, beginning on July 22. He noted that 30 out of the 230 students going for the World Jamboree were from Lagos public schools. “The Jamboree will empower and develop our youths and we solicit the support of the state government,” he said.

POLITICS

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

Reps threaten to take over Edo House of Assembly over crisis •Benin monarch seeks peaceful resolution

By Clifford Agbajor, Benin City

iting its constitutional powers, the House of Representatives has threatened to take over the Edo State House of Assembly over the crisis rocking it in line with Section 11(4) of the 1999 Constitution as amended. This was the submission of the report of the Ad-hoc Committee on the Need for Intervention in the Edo State House of Assembly Crisis chaired by Abdulrazak Namdas (APC-Adamawa),which was submitted at the plenary yesterday. The House, however, said it would not carry out the threat if the Governor Godwin Obaseki issues a fresh proclamation to inaugurate the Seventh Edo State House of Assembly within one week in line with Section 105(3) of the constitution. The report also added that Obaseki should publish the date, time and venue of the inauguration in any national daily and television station. Meanwhile, the Oba of Benin, Ewuare II has urged the Senate Adhoc Committee who were on factfinding mission to Benin City, yesterday, to do all within their reach so as to ensure amicable resolution of the crisis rocking the Edo State House of Assembly. He made the remark while receiving the seven-man adhoc committee led by the Deputy Chief Whip of the Senate and Chairman of the fact-finding committee, Dr. Aliyu Abdullaihi in his palace in Benin City, the Edo State capital. In a related development, mixed reactions have continued to trail the recommendation by the House of Representatives ad-hoc committee set up to intervene in the crisis rocking the Edo State House of Assembly. .Reacting, Anselm Ojezua, the Chairman of the All Progressive Congress (APC) in the state, said that the recommendation by the house of representatives committee was unconstitutional and unenforceable. According to Ojezua, the action of the House of Representatives amounted to assuming the function of the Judiciary. He pointed out that Nigeria was a democracy with very clearly defined separation of powers. The ad-hoc report also recom-

mended that all actions already taken by the members of the current Assembly should be declared null and void pending proper inauguration. It also recommended that all members of the Assembly, both those who had been inaugurated and those not yet inaugurated should dissolve their factions. This, it stated, would be in the interest of peace and stability of the house with the view to moving the state forward. The report also recommended that the Inspector General of Police and the Director-General, Department of State Service should shut down the State House of Assembly and provide adequate security. The report said this would allay further fears of intimidation and threat as alleged by members-elect. It said that where the recommendations failed, “the National Assembly should invoke the Provisions of Section 11(4) of the 1999 Constitution to take over the State House of Assembly until the situation normalises”. “We can only pray that God and the ancestors should give you the wisdom to resolve the crisis and bring peace to the state. “We are leaving everything into the hands of God and our ancestors now,” the Benin monarch prayed. The royal father expressed optimism that the committee will put their wealth of experience to bare to ensure peace is restored to the state. “We have no doubt that you will do your work as professionally as possible”, he said. Earlier, the leader of the adhoc senate committee told the monarch that they were in his palace to notify him of the reason they were in the state. He said they were in the state for a fact-finding mission with the view of providing a lasting solution to the

crisis bedeviling the state house of assembly so that the 24 members of the house can get down to work and deliver the dividends of the democracy to the citizens who voted them. He assured the monarch that they will be fair in their actions to both aggrieved parties. Similarly, Peter Esele, an APC stalwart in Edo State , said the recommendation of the ad-hoc committee for closure of the state Assembly, was a sad commentary on democracy and amounted to “power grab.” According to Esele, the language used in the recommendation was “undemocratic,” and “lacking in democratic ethos.” He said however that any disagreement in a democratic system was expected to strengthen the insti-

“We call on all concerned in the Assembly crisis to stop this ego trip and blame game and face the serious business of good governance in the interest of the people,” he said. A 13-member committee, on July 10, commenced investigations into the Assembly crisis following a unanimous adoption of a motion under matters of urgent national importance by Julius Ihonvbere (APCEdo). Ihonvbere had expressed concern over the improper inauguration of the Seventh House of Assembly on June 17 and that nine out of the 24 elected members were sworn in without the knowledge of the other 15 members-elect. Ihonvbere also alleged that the Clerk of the House secretly inaugurated the nine members-elect at about 9.30p.m which, according to him, was outside the time of legislative business.

Oshiomhole and Obaseki

APC urges security agencies to intensify anti- crime war

call has been made by the ruling All Progressives Congress (APC) to security agencies to intensify efforts in containing crimes in the country. The ruling party made the call in a statement signed by its National Publicity Secretary, Mallam Lanre Issa-Onilu in Abuja yester-

day . The APC however condemned provocative and reckless comments by those it described as unpatriotic interests over the security challenges in the country. “The APC notes public concerns over cases of violent crimes recorded in some parts of the

Rep. others pay condolence visit to Onitsha Council boss over father’s death By Afam Aminu Chimezie, Charles Mba as a “very good man” who maintained a healthy Onitsha relationship with those around him. Ezenwankwo stated that the nitsha North Local Government Council boss, deceased having trained his Patrick Agha Mba yes- children to become useful in life, terday received dignitaries who had paid his dues and called on came on a condolence visit over the children of the deceased to the death of his father, Chief sustain the legacy which their father worked for while he was Charles Mba. While condoling with Mba, alive. In an interview at the event, member representing Orumba North and South Constituency Mba who described his father in the House of Representa- as a role model, said he was tives, Okwudili Ezenwankwo,, happy to have had such a father who worked with Mba as a who trained all his children to former Anambra State mar- become useful in their various ket leader, described the late fields of human endeavours.

tutions and not constrain them. He further said that judiciary should be left to determine whether the earlier proclamation by Governor Godwin Obaseki on the state Assembly was legal or not. “Whatever outcome must be respected. “Sadly all the protagonists always get away and the downtrodden pays the price of further neglect,” he said. In the same vein, Chief Dan Orbih, the Chairman of the People’s Democratic Party (PDP) in the state, described the development as sad and unpleasant. Orbih said that the ugly and unending crisis in the APC-controlled Edo house of assembly was a huge embarrassment to the people. “This unnecessary power show is not in the interest of the state. “The Assembly which ought to be a House of honourable men is now going to be occupied by uniformed armed men.

The council boss observed that the legacy of love, discipline and hard work which his late father represented would be sustained by the family. Earlier in the day, representatives of the Anambra State Government, comprising the Secretary to the state government, Prof Chukwulobelu and the Deputy Governor, Dr. Nkem Okeke had paid a condolence visit to the family. Also, the state and local government chapters of All Progressives Grand Alliance (APGA) and member House of Representatives, Lynda Chuba-Ikpeazu, among others visited Mba.

country, particularly in the recent and unfortunate killing of Funke Olakunrin, daughter of Chief Rueben Fasoranti, Afenifere leader. “Losing a loved one is never easy to come to terms with, particularly in such unfortunate circumstance. “We join the President Muhammadu Buhari administration and all peace-loving Nigerians in extending condolences to the family of the late Funke Olakunrin on the sad and painful loss,” the APC spokesman said. According to him, APC is disturbed by recent reckless and provocative statements ascribed to some leaders and interests in the country. “Inciting actions and rhetoric are counterproductive and dangerous particularly in a multi-ethnic country such as ours. “Terrorism, kidnapping, banditry, armed robbery and other crimes must be condemned by all. There is nothing like an Isoko, Gwari or Awori robber because criminality has no tribe in the eyes of the law. “We must remind ourselves that many of the recorded genocides all over the world started through unchecked prejudices and systematic profiling of racial, political and cultural groups. God forbid our dear country descends

into such savagery.” According to him, APC rejects the notion of a Nigeria where any ethnic group is unwelcome in any part of the country. “Every Nigerian must be free to live and work in safety anywhere in the country. “Our leaders have an important duty to be temperate in their language and actions. “We must be wary of partisan individuals, many of whom formerly occupied elective positions but failed to tackle many of the criminalities we face today. “We must be wary of these leaders who now play to the gallery to incite, spread hate and intolerance in the country. Their interventions are not patriotic but in pursuance of their political and selfish interests,” Issa-Onilu stressed. The party urged the President Muhammadu Buhari, the National Assembly, religious, traditional and political leaders, as well as all well-meaning Nigerians not to be distracted by these unpatriotic antics. “We may not agree on some issues in our national life, but we must continue to explore all peaceful and legitimate avenues to tackle our challenges and find amicable common ground to our disputation,” he added.

POLITICS

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

APC demands withdrawal of APGA member as Gbajabiamila’s aide C iting wrongheadedness, the Anambra chapter of the All Progressives Congress (APC) has criticised the appointment of Anayo Nebe as Special Assistant to the Speaker, House of Representatives, Mr Femi Gbajabiamila. Rising from a State Working Committee meeting in Awka yesterday, the party said the appointment of Nebe whom it described as a member of All Progressives Grand Alliance (APGA) as “inappropriate”. Speaker’s Spokesman, Lanre Lasisi had recently announced Nebe, a former Rep, as Gbajabiamila’s Special Assistant on Political Matters (South East). Nebe is among the 31 aides appointed recently by the Speaker. Speaking in an interview with NAN shortly after the meet-

ing, the state’s secretary of the party, Chukwuma Agufugo said the party executive totally reject-

ed the appointment. “The Anambra chapter of APC is championing the criti-

Nebe

cism over appointment of Anayo Nebe, a card carrying member of APGA as the Special Assistant to the Speaker of the House of Representatives. “It is unfortunate that this appointment is coming at this time especially from an APC government. “We have men and women of high intellect, capacity and capability in the party, who have toiled and suffered to build APC in the state. “It is a total injustice to these men and women and the people of APC in the state. We use this opportunity to call on Gbajabiamila to rescind his appointment,” Agufugo said. The party scribe urged the Speaker to heed to the voice of party faithful in the state, especially now that efforts were on to rebuild and reconcile aggrieved members in the state.

According to him, this is the time of rebuilding the party in the state towards the 2021 governorship election which we hope to win. “Appointing other people who are non-members of APC into such positions is a way of eclipsing the efforts and the ability of the party stalwarts to help in rebuilding the party ahead of the election. “Gbajabiamila is a good man and I believe he has a listening ear. We cannot be negative about him not listening to us. “This kind of thing has happened before when the Senate President rescinded his earlier appointment by appointing men who have the same focus, ideology and philosophy of the party. “We have capable people from the party who can represent us at that level,” he said.

Delta Gov swears in eight new Special Advisers

overnor Ifeanyi Okowa of Delta State yesterday swore in eight additional Special Advisers (SAs), bringing to 13 the nubmer of his special aides appointed so far in his second term in office. The governor on July 2 sworn in the first batch of five special advisers. The new SAs are Chief Edwin Uzor, Pascal Adigwe, Mike Okeme, Prince Kelly Penawou, Chief Mary Iyasere, Johnson Erijo, Daniel Yingi, and Barrister Ernest Ogwezzy. The SAs earlier sworn in were Sylvester Monye (Senior Policy Adviser), Dr Kingsley Emu (Chief Economic Adviser), Sen. Emmanuel Aguariavwodo (Housing and Urban Development), Emmanuel Okoro (Rural Development) and Efe Ofoburuku (Legislative Matters). The governor, however, directed the newly sworn in SAs to contact the Secretary to the State Government (SSG) for the letters assigning them their portfolios. Okowa said that the appointments were coming in batches to ensure that the right set of persons were fixed into the right positions. “I believe that the process of political appointments is continuous and appointments will come in batches because, we are all aware that there is room for a lot of people to be given political appointments. “BUT it is not possible to appoint all Deltans into office. “The appointment and swearing-in of this set of Special Advisers, further demonstrates this administration’s determination and collective resolve to put in place, a viable machinery of

governance. “This will assist in meeting the challenges of repositioning the state towards achieving our vision of a stronger Delta. “The appointments we are making are premised on professionalism, merit and competence. “I urge those who are yet to be appointed to be patient because, all those who worked will be rewarded in one way or the other; please, keep praying for me and the administration,” he said. He admonished the special advisers and other political appointees in his administration to acquaint themselves with government policy direction. The governor said that the appointments should facilitate professional and technical inputs into the decision making process of government. “I encourage the newly

sworn in advisers to bring in their wealth of experience to bear, so that the tempo with which the government is pursuing its various projects and programmes, gets accelerated. “You should demonstrate exemplary leadership qualities, carry the people along and see the appointments as opportunity to serve the people,” he said. The governor urged them to regard themselves as bridges between the people and government so that the people’s yearnings and aspirations could be satisfied. Responding on behalf of the SAs, Chief Edwin Uzor, praised God and thanked the governor for considering them fit to be part of the team to build a stronger Delta. “We identify with your vision and we will work with you for the desired objectives to be achieved,” Uzor said.

Okowa

Nasarawa Assembly panel on non-payment of LGs begins sitting

he Nasarawa State House of Assembly ad hoc committee investigating nonpayment of June salary to local government workers and unnecessary deductions of council funds in the state has called for constructive contributions from the general public. Mohammed Alkali (APCLafia North), the Chairman of the committee, made the appeal at the commencement of sitting yesterday in Lafia. Those who attended the sitting included the State Accountant General, Zakka Yakubu; Special Adviser to Governor

Abdullahi Sule on Local Government and Chieftaincy Affairs, John Mamman; and the Permanent Secretary, Ministry of Local Government and Chieftaincy Affairs, Alhaji Bala Sani, among others. Alkali said that the investigation was not to witch-hunt anybody but to ensure that right things were done for the benefit of the local government staff, people at the grassroots and for the overall development of the state. He noted that the state was a civil service state, hence the need to ensure that salaries of

workers were paid as at when due. “Yesterday, July 16, matter of urgent public importance was raised over non-payment of June salary to local government staff and other unnecessary deduction of local government funds in the state. “And the matter touches the lives of every person in Nasarawa State. “Local government staff June salary has not been paid, we want to know why they have not been paid, among other issues. “I don’t want anybody to

see the investigation as a witchhunt but to correct any abnormality if discovered in the interest of our people,’’ he said. The chairman further assured the people of the state of the assembly’s readiness to pass resolutions that would have direct bearing on their lives. The legislature on July 16 set up a six-man committee to investigate the finances of the state ministry of local government and chieftaincy affairs to probe the development. The House gave the committee two weeks to submit its findings.

NEWS

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

Ruga: Abia to scrutinise land sales above five hectares – AG

he Abia state government has disclosed that it has introduced a policy directing relevant agencies to scrutinise and ascertain the purpose behind the sale of any portion land above five hectares in the state. Uche Ihediwa, the Commissioner for Justice and AttorneyGeneral of the state, said this yesterday in Umuahia, while briefing newsmen on Abia government’s stance on land-use planning. He said the policy made it mandatory for applications for Certificate-of-Occupancy for land above five hectares to be honoured or declined, depending on the purpose the land would be put into. He said: “with the present dispensation, any request for land will have to be scrutinised. “The state government’s policy is to scrutinise it and make sure that it is not something that is convertible into Ruga. “We have gone ahead to sensitise our communities to be sure that nobody sells large

quantity of land. “There is a standing instruction in the Ministry of Lands, Survey and Urban Planning that sale of any land above five hectares will be scrutinised.’’ Ihediwa said that the Town and Country Planning Law allows the revocation of any piece of land which had not been used for the purpose it was acquired. He said that there was no truth in the allegations that the state government secretly gave out land for Ruga settlement in Arungwa in Osisioma Local Government Area of the state. According to him, “Sometime in September 2014, the Federal Ministry of Works, Transport and Housing requested for land to build a trailer park. “There was nothing untoward about the request by the Federal Government under the administration of Dr. Goodluck Jonathan. “They were looking for 50 hectares of land in that place but we went round and discov-

Ikpeazu

ered it was only 20 hectares.” He said that the negotiation was subsequently aborted and the land penciled down for a

car assembly plant. Ihediwa said that the Land Use Act was clear on the processes and procedures for ac-

quiring land for any purpose. The attorney-general therefore said that there was no Ruga settlement in Abia.

Institute seeks higher entry placement in civil service for fresh graduates

he Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) yesterday said it would continue to engage the government to appropriately place holders of its certificate within the civil service. Bode Ayeku, the incoming President and Chairman of ICSAN Council, made the pledge during his investiture as the 27th President of the institute yesterday in Lagos. Ayeku said such move would ensure that members of professional bodies were encouraged to be more committed due to the benefits derived from their membership. “We will consider certain areas of interest to our members so that they can see the value for membership which will encourage them to participate actively. “Our fresh graduates are to be placed at an entry point of Grade Level 10 under the Administrative Officers’ cadre and subsequent delisting from the Executive Officers’ cadre, as earlier recommended by the Federal Ministry of Education,” he said. Ayeku addressed what he referred to as “the wrong impression” of the institute perceived to be a professional body only for the training of company secretaries and those rendering secretarial services. He said that everyone rendering services ranging from being a manager to a proprietor, director and those in business needed the professional edge of the institute to add value to their services. “We use this opportunity to inform the public that every proprietor, manager, director, employee, businessman needs to be

a chartered administrator in order to continue to add value to their organisations,” he said. The president also pledged to consolidate on the gains of his predecessors to achieve the goals of ICSAN. He disclosed his administration’s focus on areas such as aggressive membership drive, scal-

ing up benefits for members and exploring new opportunities for Chartered Secretaries and Administrators in the Nigerian Code of Corporate Governance 2018. Ayeku is currently the Company Secretary and Legal Adviser of Nestlé Nigeria Plc. He had also served the Institute in various capacities, since

his appointment into the council in 2009. Also speaking, Samuel Kolawale, the immediate past president of the institute, tasked the new administration to sustain initiatives such as the Corporate Social Responsibility and also to improve on the achievements of the past administration.

Olusegun Osunkeye, Chairman of the occasion, urged leaders to borrow a leaf from the successful transition story of the institute, particularly in the aspect of elections. The institute launched a book titled, “The ICSAN Company Secretaries Handbook on Meetings and Minutes”.

Makinde tasks Oyo intending pilgrims on good conduct

ntending pilgrims from Oyo State to the 2019 Hajj in Saudi Arabia have been admonished against taking kola nuts and other prohibited items to the holy land. Governor Seyi Makinde of the state gave the admonition in his farewell message to the intending pilgrims, yesterday , at the Hajj Camp, Olodo in Ibadan. Makinde told the intending pilgrims that death penalty awaits anyone caught for drug peddling in Saudi Arabia. “Let me advise you to resist any temptation to do anything contrary to the aims and objectives of performing Hajj. “Be good ambassadors of Oyo State while in Saudi Arabia by showcasing our Pacesetter appellation in acts and indeed,’’ he enjoined. The governor further urged the pilgrims to beseech ‘Almighty Allah’ on behalf of Oyo State and Nigeria while in the holy land, for solutions to the numerous sociopolitical and economic problems confronting Nigerians as people.

He said that the Oyo State Pilgrims Welfare Board was established in 1976 as the first organised Pilgrims’ Welfare Board in Nigeria, saying that the Hajj Camp was inaugurated in 1990. He promised that his administration would make efforts to complete abandoned building projects which started in 2010, within the Hajj Camp and make the camp more befitting for use. He also promised that his administration would ensure that pilgrims were airlifted from the Ibadan Airport at Alakia area, in the nearest future, to further ease the stress people go through on their journey. Earlier, Prof. Sayed Malik, the Chairman, Oyo State Pilgrims’ Welfare Board (Muslim Wing), disclosed that 900 intending pilgrims would participate in the 2019 pilgrim operation from the state. Malik promised that the board would do its best in ensuring that the pilgrims from the state were well taken care of in the holy land.

Makinde

WESTAFRICA BUSINESSNEWS

NEWS

THURSDAY, JULY 18, 2019

Anambra threatens to sack unqualified teachers

o ensure quality, the Anambra State Government yesterday in Awka gave a Dec. 31 deadline for teachers without the requisite teaching qualifications to either acquire it or be disengaged from the system. The warning was given by the State Ministry of Basic Education in a statement by its Public Relations Officer, Nnaemeka Egwuonwu, for the Commissioner for Basic Education, Prof. Kate Omenugha. Omenugha said that this was in line with an earlier directive of the Minister of Education to disengage teachers without requisite teaching qualification by December. It added that a reminder had earlier been addressed to the Chairman, Post Primary Schools Service Commission (PPSSC), Anambra State Universal Basic Education (ASUBEB) and Education Secretaries. It referred to the Teachers’

Registration Council of Nigeria’s (TRCN) letter of April 24, which amplified the minister’s directive. The reminder said that qualified teachers should be registered and licenced by TRCN in line with section 17, Sub-Section 2 of the enabling law establishing the council. “I advise those teaching without the requisite teaching qualifications to endeavour to acquire same before or on December 2019 deadline,’’ he said. Meanwhile, Omenugha has tasked teachers in the federation to utilise the human capital development projects of governments at all levels to build their capacities for greater service delivery. He said this at the leadership training organised for teachers in South-East states in Umuahia, the Abia State by the National Teachers Institute (NTI). The commissioner noted that

there was the need for teachers to be computer literate to fit into the 21st century teaching and learning scheme. She added that teachers being computer literate would help them to discharge their duties effectively. Omenugha said that the recipient of 2017 World Best Teacher Award, Clement Oko-

do, was rewarded because of the Information Communication Technology (ICT) training that he received through the state government’s capacity building system. Okodo is a teacher at Central School, Abagana, Anambra. One of the participants, a teacher at Community Secondary School, Ifite-Anam, Anam-

bra, Mrs Helen Echekwube, commended NTI for organising the training. She added that the training would help them to improve teachers in their career path. Echekwube, however, thanked the state government for giving her and other participants the opportunity to be part of the capacity building initiative.

Reps pledge fairness in resolving Bauchi Assembly crisis

he Adhoc Committee set up by the Speaker House of Representatives, Femi Gbajabiamila to wade into the Bauchi State House of Assembly leadership crisis has pledged to ensure justice and fairness in its report and recommendations. Musa Sarki-Adar, Chairman of the committee stated while briefing newsmen in Bauchi on Wednesday. He said the committee was constituted following a motion presented by a member on the need to wade into the leadership crisis rocking the Assembly and ascertain the true position. Sarki-Adar said to get to the root of the crisis and to ensure lasting solution, the committee has met with the aggrieved members, stakeholders, party officials and all concerned with the matter. “Based on the information and reports from the Public the committee has enough to write its report and recommendations. Sarki-Adar commended people of Bauchi state, Media

and the political parties for their good conduct and openness during the public hearing. He pledged speedy resolution of the crisis with equity, justice and fairness.

Obiano

Institute tasks FG on social housing development

o alleviate their pain, the Nigerian Institute of Quantity Surveyors (NIQS) has called on the Federal Government to explore social housing development policies to tackle civil servants’ housing challenges. Obafemi Onashile, President of NIQS, who made the call at the institute’s annual conference on Wednesday in Abuja, said this would also help create new urbanisation. Onashile, said a comprehensive social housing development plan would address the deficit in housing and put smiles on the faces of Nigerian workers and by extension, other citizens. The NIQS’s president, who highlighted the core objectives of the workshop, said that such a gi-

ant step would help the government set its priorities right and revamp the economy through the construction industry. He said NIQS as a major player in the sector, was prepared to partner with the government in that regard. “Apart from social housing, we are also saying that the government should look into urbanisation, create new cities, and also improve on the cities we have on ground. “This new idea will also lead to creating new cities across the nation which would enhance the quality of living of Nigerians,’’ he said. The institute’s president also urged the government to look into revamping the Federal Housing Authority, to make it

stronger and effective in the delivery of quality services to Nigerians. Speaking on the fundamental role of NIQS in the construction industry, Olusegun Ajanlekoko, said quantity surveyors played an important role in the monitoring of projects. Ajanlekoko advised those embarking on projects to engage the services of professional quantity surveyors for proper monitoring and safety. “If you want any project be it road, rail or housing, to finish with the right price, at the right time and deliver quality services, quantity surveyors must be involved in that project, otherwise it will be like a ship without a captain. “And also if you want the

financial discipline and programme management, then a quantity surveyor must be involved in that project,’’ he said. In his remark, Dr Amuda-Yusuf Ganiyu, said the conference was preparing the participants, the upcoming surveyors in particular, to shift from the traditional quantity surveying style to the international standard practice. Ganiyu, added that the workshop would provide opportunities for participants to understand the basis of project monitoring by quantity surveyors for successful implementation of construction projects. The workshop had as theme; “Project Monitoring and Reporting Services for Financial Institutions, Party Funded or Sponsored Project Development“

Ongoing head count in Kwara to fish out ghost workers –Dep Gov

n explanation yesterday came from the Kwara State Government that the ongoing head count for civil servants was to fish out ghost workers. Kwara Deputy Governor, Kayode Alabi, said this in Ilorin when the executive and members of the Institute of Chartered Accountants of Nigeria (ICAN), Ilorin District, led by its Chair-

man, Alhaji Mohammed Ibrahim, paid him a courtesy visit in his office. Alabi said that the head count was also to ascertain the actual workers on government’s pay roll as the current wage bill was high. He explained that the current wage bill of over N2 billion would leave the state with little to execute developmental proj-

ects germane to the people. The deputy governor pledged that the present administration would support and require the services of professional bodies to move the state forward. He called on ICAN to offer advice to the state on the way forward, especially in the area of revenue generation to meet the needs of the people. Earlier, Ibrahim had said the

emergence of the present administration was a true reflection of integrity, diligence and loyalty. He reiterated the willingness of the District to collaborate with the administration to promote growth and development in the state. The chairman disclosed that the District would evolve a blueprint on how to improve the

internally generated revenue of the state optimally and reduce cost of governance drastically. He, however, solicited for the support of the state government in funding its proposed secretariat and sponsorship of its members in the state’s civil service for its annual conference. Ibrahim also called for the appointment of its members into key professional positions.

NEWS

THURSDAY, JULY 18, 2019

Buhari asks herders to ignore NEF’s ‘return home’ order

resident Muhammadu Buhari has enjoined all Nigerians to ignore the recent call by the Northern Elders Forum (NEF) to Fulani herders, asking them to leave the southern part of Nigeria. According to a statement by the President’s spokesperson, Malam Garba Shehu, in Abua yesterday, Buhari said all citizens of Nigeria are free to move and live within any part of the country they please, whether or not they are originally from there. “In line with our country’s constitution, the government of Nigeria and the administration of President Muhammadu Buhari will protect citizens of Nigeria wherever they find themselves. “No one has the right to ask anyone or group to depart from any part of the country, whether North, South, East or West,” Shehu quoted the President as saying. The presidential aide questioned

the intentions of the NEF and the other so-called leaders in delving into issues with unsolicited, ill-intentioned advice. Shehu said: “They have no one’s authority to make such pronouncements. “The polarising role of the Northern Elders Forum and all those other groups dabbling into issues of security to score cheap political points has for long been a sore point in Nigeria’s body polity. “They should not be allowed to mislead anyone, least of all the Fulani herders. “The Buhari administration is fully devoted to finding a lasting solution to the herder-farmer clashes in different parts of Nigeria- one that would be acceptable to all the parties involved.’’ Shehu quoted the president as calling on all Nigerians to help keep the peace in the country.

Buhari

Group begins assessment on political, security environment over Kogi, Bayelsa poll

Civil Society Organisation (CSO), YIAGA AFRICA, has said that it has commenced assessment of the political and security environment ahead of the Bayelsa and Kogi States governorship poll. Media Officer, YIAGA AFRICA, Moshood Isah stated this in a statement on Wednesday in Abuja. Isah said the assessment is in a bid to note possible threats with a view to tackling them on time. He said the action is part of the organisation’s action plan for election observation in the states. “YIAGA AFRICA’s Watching The Vote (WTV) project has commence plan for preelection observation; the assessment visit is aimed at engaging stakeholders in a bid to understand the political and security dynamics in the states. “WTV will be observing the pre-election observation environment starting from the political party primary elections to the elections proper. “The team will also be deploying long-term observers to observe the pre-election environment in each of the 21 Local Government Areas (LGAs) of Kogi state,’’ he said. Isah said that the objective of the WTV is to provide timely and accurate information about the election process to voters and stakeholders and to ensure that citizens’ votes count. This, he said would help in deterring fraud and manipulation during the conduct of elections and collation of re-

sult and as well build citizens’ confidence in the elections. He said that YIAGA AFRICA would be collaborating with the Independent National Electoral Commission (INEC), security agencies, the me-

dia and other stakeholders to mitigate electoral misconduct which characterised previous elections. He said the group would be monitoring the build up to the election in the states to iden-

tify flash points and work with all stakeholders to ensure that violence during the elections are reduced to the barest minimum. Isah said the team led by Ms Cynthia

Mbamalu,Programmes Manager ,YIAGA AFRICA,would be carrying out advocacy visit to stakeholders to create the desired awareness towards a more participatory election in the two states.

Tambuwal woos UK investors on extractive sector

overnor Aminu Tambuwal of Sokoto State, yesterday appealed to investors in the United Kingdom(U.K) to invest in the extractive industries in the state. Tambuwal made the appeal when he received the British High Commissioner in Nigeria, Catriona Laing, on a courtesy visit at Government House Sokoto. Tambuwal was hopeful that the partnership between UK and Sokoto state would boost the exploitation of the rich natural endowments of the state. He harped on the need for more engagement between the

Tambuwal

state government and the UK for the attainment of the set objectives. He also assured of his administration’s resolve to ensure peaceful coexistence among the people and protect the lives and properties of all residents. Tambuwal expressed the hope that British government would continue to support the Federal Government to ensure adequate security in the country. The governor assured the High Commissioner of the state’s plan make direct contact with British investors for the establishment of shoe factory in the state. Earlier, the British High Com-

missioner in Nigeria, Laing, described Sokoto State as an important partner, saying that he was in the state to deepen and strengthen the ties between Brit-

ish and Nigeria. Laing said that he would work to strengthen existing ties especially in the areas of economy and security.

FRSC charges road users on safety rules, others

o check auto crashes, the Federal Roads Safety Corps (FRSC)yesterday appealed to road users to comply with safety rules and regulations. The corps also advised those without requisite driving skills to upgrade in order to mitigate accidents as a result of ignorance of traffic rules. Asst. Corp Commander Emma Fekoya, gave the advice during a sensitisation lecture for members of staff of NAN in Lagos. Fekoya advised people who obtained driver’s licence without the proper training, to do the right thing by enrolling in driving schools because learning to drive from spouses, family or friends, did not guarantee getting the right skills. “You need to update yourself from professional drivers,’’ Fekoya said. She explained that the FRSC had the mandate to check vehicles, in order to ensure that they complied with minimum safety standards for driving. “A lot of times we know what is right, but we do what is permissible,’’ she said.

She said that the awareness campaign was necessary to bridge the knowledge gap between the FRSC and road users. She noted that road users often misunderstood traffic rules and the role of the FRSC, and called for a renewed commitment to the awareness campaign which the corps embarked on since inception. Fekoya said FRSC was on a tour of organisations and communities to educate people on the need to keep the roads safe by keeping the rules. “We have been going round to educate road users, all we ask for is the platform and we are there. “We go to markets, religious places and schools; and this programme has been on since the establishment of FRSC, but we intensified the campaign in the last five years; and we keep stepping up,’’ she said. The FRSC official added that training journalists was critical to stepping up the campaign in order to ensure the objective and effective reportage of issues affecting the corps and safety on roads.

SPORTS

WESTAFRICA BUSINESSNEWS THURSDAY, JULY 18, 2019

Taking over at Newcastle United “huge challenge,’’ says Bruce

ewcastle United’s new manager Steve Bruce has said that he knew he will have his work cut out following his appointment on a three-year contract yesterday . The former Sunderland and Aston Villa manager replaces popular Spaniard Rafa Benitez, who left St James’ Park last month after failing to agree a contract extension with club owner Mike Ashley. “This is my boyhood club and it was my dad’s club. So, this is a very special moment for me and my family,” the 58-year-old told the Newcastle United website. He had resigned from Championship side Sheffield Wednesday earlier in the week. “There is a huge challenge ahead of us, but it’s one that my staff and I are ready for. We’ll roll our sleeves up and we’ll be giving it everything from the off to ensure supporters have a successful team that they can be proud of.” The chances of success are complicated by an owner who

wants to sell a big but perennially under-performing club. Moreover, the fans are increasingly venting their anger at the lack of funds and ambition. Newcastle United have yet to sign any players in the transfer window. They have lost strikers Salomon Rondon and Ayoze Perez, who scored more than half of the Magpies’ English Premier League (EPL) goals last season. Venezuelan Rondon was on loan from West Bromwich Albion and is set to join Benitez at Chinese superleague side Dalian Yifang while Perez has joined Leicester City. Bruce has plenty of Premier League experience, managing 392 games, but he has also twice suffered relegation with Birmingham City and Hull City. He will now have to win over fans unhappy to see Benitez go and underwhelmed by his replacement. The Twitter hashtag #Bru-

ceOut was trending already after the announcement. Online bookmaker Betway posted odds of 6/4 for him to be fired before the end of the campaign. Bruce, who will be joined by coaches Steve Agnew and Stephen Clemence, led Sheffield Wednesday to 12th in the Championship last season after being appointed in January. Former Liverpool and Real Madrid manager Benitez, now the coach of Dalian Yifang, led Newcastle to 13th in the Premier League in 2018/2019. The 59-year-old UEFA Champions League winner with Liverpool joined Newcastle United in March 2016 but failed to save them from relegation from the EPL. He remained in charge and immediately led them back up, then stabilised the club with a 10thplaced finish in 2017/2018. “I wanted to stay, but I didn’t just want to sign an extended

Bruce

contract, I wanted to be part of a project,” Benitez said after his departure. “Unfortunately, it became increasingly clear to me that those at the top of the club did not share

the same vision.” Newcastle United Football club managing director Lee Charnley said the club would “be fully prepared for the challenge of a new Premier League season”.

Basketball League: Kada Queens recruits 14 new players

he Kaduna female basketball team, Kada Queens, has recruited 14 new players to strengthen the team ahead of the Zenith Bank Female League which begins on July 20. Head Coach of the Team, Sim-Sim Morrison disclosed this in an interview with newsmen in Kaduna yesterday . Morrison said the 14 players were drawn from different clubs to add up to the current group of players’ to make sure of a better outing in the upcoming Zenith Bank league season. The coach told NAN that the new players have since joined the team at their training base at the Murtala square, Kaduna.

“We have recruited 14 new players to add up to the old ones remaining since we lost some of our girls to a team. “We need to put the team together because we are participating in two leagues and don’t want fatigue and injury. “We began training last seven days ahead of our female league and the players have shown passion and will to learn. “All we are doing is to ensure that they get well ahead of the season and finish with a comfortable position so as to feature in the premier league next year.” Morrison said the team would work hard to finish top this season so as to play in the premier league.

“Last season we started well and came fourth position due to some challenges, but this season we hope to be focused and finish top so as to play in the premier league. “We also want to play in continental and reach the final eight.” The head coach appealed to the state government for the quick release of funds in order to participate and make a meaningful impact in the league. “We are appealing to the state government for release of funds to enable us participate fully in the league season. “We appreciate their support for us all this while, but we need funds to enable us

Graduating pupils of Nigeria Air force Primary School, Legico, Victoria Island, Lagos, after their match past at the school premises to mark the end of the session, yesterday Photo: SUNDAY ADESANYA

get kits for the club, traveling allowances for players and officials and salaries. “Since last year we were having challenge with funds

which affected our performance, but we pray for the release of funds before the start of the league season on Saturday.”

African club cup finals to be played over one leg

he finals of Africa’s two international club competitions will each be played in one single match in future rather than over two legs as at present, an official said yesterday . Ahmad Ahmad, head of the Confederation of African Football (CAF), said both the CAF Champions League final and the CAF Confederations Cup finals would consist of a single match. This will be following the European model, according to the president of the region’s governing football body “Huge decision that CAF took yesterday: the (finals) will be now played on a single game,” he said on Twitter without giving further details. CAF first vice-president Amaju Pinnick said the details were still being ironed out. “We are working on that,” he told reporters. However, supporters quickly pointed out on social media that conditions in Africa, with vast distances, poor transport infrastructure and a lack of budget airlines, are very different from Europe. They added that the matches risked being played in empty

stadiums. In 1994, CAF decided to play its annual Super Cup match —- between the Champions League and Confederations Cup winners —- at a neutral venue in South Africa. Two Egyptian teams qualified and travelled thousands of kilometres to play in front of a handful of supporters in Johannesburg. CAF said at the time that it had been a mistake to play at a neutral venue. The fixture has since been played at the home ground of the Champions League winners. This year’s two-leg Champions League final ended in chaos when Wydad Casablanca of Morocco refused to play on. That was after having a 59th minute effort disallowed in the return leg of the final in Tunis against Esperance. Esperance were initially declared winners, but that decision was overturned by CAF’s executive committee which ordered a replay. Both clubs have subsequently appealed to the Court of Arbitration for Sport (CAS), each arguing they should be declared winners.

NEWS

THURSDAY, JULY 18, 2019

Apapa Customs intercepts 10 cartons of Tramadol

..Arrests two suspects By David Oladimeji

fficers of the Apapa Customs Command have intercepted Ten cartons of

225mg Tramadol tablets valued at Two Million, Eight Hundred and Fourteen Thousand , One Hundred and Thirty Nine Naira while on routine patrol. The act of economic sabo-

tage was allegedly perpetrated by some staff of the AP Moller Terminal on July 12 this year. According to the Customs Area Controller of the Command, Comptroller Mohammed Abba-Kura who briefed the press in Lagos yesterday, said the command’s officers on rou-

tine surveillance intercepted an ambulance (Hyundai) with registration number LND 605 XW Lagos. Consequently, two suspects Michael Olatunde and who are staff of AP Moller were arrested with the ambulance conveying the drugs. According to Comptroller

Expert urges merger of Arik, Aero as new national carrier •‘Nigeria does not need foreign aid for National airline’

n aviation expert, Nick Fadugba,yesterday advised the Federal Government to merge Arik Air and Aero Contractors Airlines to establish a new national carrier for Nigeria. Fadugba, the Chief Executive Officer, African Business Aviation Services, gave the advice at the 23rd Annual Conference and Awards organised by the League of Aviation and Airport (LAAC) in Ikeja. The theme of the event was: “Boosting Aviation Investment through Policy”. Fadugba said that both airlines were already under the receivership of the Asset Management Company of Nigeria (AMCON) and could be utilised for the national carrier project. In a related development, Allen Onyema, Chairman, Air Peace, has said that Nigeria does not need the assistance of any foreign airline to

establish a new national carrier for the country. Onyema made the assertion while speaking at the 23rd Annual Conference of the League of Airports and Aviation Correspondents (LAAC) yesterday in Ikeja. Fadugba said: “Aviation in Nigeria, if properly harnessed, can become one of the keys to Nigeria’s future prosperity. “A situation in which over 90 per cent of international air traffic to and from Nigeria is carried by nonNigerian airlines is damaging to the economy in several ways.” According to him, these include huge capital flight from Nigeria, the continued deterioration of the Nigerian aviation industry and the loss of skilled aviation employment opportunities. Fadugba said he was in support of the Federal Government’s plan to launch a new national carrier with

minority government shareholding, adding that it must be done transparently and skillfully. “To succeed, the proposed new national airline needs a sound business plan, strategic industry partners, adequate funding, an experienced management team and well-trained staff. “It also needs a fleet of modern aircraft, a comprehensive route network, on-time performance and good customer service. “Good governance and no government involvement in the management of the airline will be essential. “The Federal Government should also create a conducive environment for other local airlines to flourish in Nigeria alongside the new national carrier,” he said. Onyema said Nigeria was blessed with competent aviation personnel capable of transforming the

country into an aviation hub without any exploitative foreign intervention. He said the recent claim by Ethiopian Airlines that it was in talks with the Federal Government to establish an airline in Nigeria was an affront to the country. Onyema said: “Nigerian airlines are very strong and it is insulting for another African airline to come to our country to help us to set up a national carrier. “The government must trust our airlines because as I speak, other African countries are coming to Air Peace for assistance to set up their own national carriers which we have agreed to assist them in a win-win situation. “We must begin to resist such moves to belittle Nigerian carriers in order to continuously exploit the country.

‘Nigeria loses N1.4trn yearly to violence against children’ Continued from page 1

Ekiti State Governor, Dr Kayode Fayemi presenting a cheque to a retiree, Mr. Olowofela Francis, during the presentation of gratuity cheque to local government and primary school pensioners in Ado-Ekiti, yesterday.

Mohammed Abba-Kura an investigation into the source of the stolen tramadol revealed that 211 cartons of the drugs were missing from the container with the Duty Paid Value (DPV) put at N59, 378, 332.09 . The customs boss lamented that while the while the Nigerian Customs Service was working round the clock to rid the country of illicit goods , some recalcitrant and unpatriotic citizens are not relenting in their desperate bid to sabotage customs efforts. “ Ordinarily, nobody would suspect that such an act can be committed by supposed stakeholders that ought to be collaborating with the service to rid the nation of these harmful drugs . However, the command’s strategy of 24 hours surveillance in and around the ports has continued to yield desired results. He said preliminary investigation has commenced and we sre currently working hard to ascertain the level of involvement of other members of staff of the AP Moller Terminal with a view to getting to the root of the unfortunate incident and and be charged to Court. The Apapa Command also generated over N20billion between July 1and 15 this year.

as well as its high economic cost. “The report points out clearly that there is huge financial loss from cumulative loss earnings due to loss of productivity as a result of sufferings associated with various degrees of violence, ” he said. According to Kudzala, the findings of the two studies point to the strong need for increased funding of interventions by government to prevent and respond to violence against children in Nigeria. ” So, it becomes critically imperative for all of us to join hands together and protect the children of Nigeria from neglect and abuse. “This can only be possible if government re-commits to adequately fund services through huge budgetary allocations that will protect children from violence,” he said. Unveiling the document, Mrs

Hassana Ayika, Permanent Secretary, Plateau State Ministry of Women and Affairs and Social Development, said the launch was timely. She pledged the continuous support and commitment of the state government to protecting the rights of children in the state. “Plateau has since keyed into the call to protect the rights of children in the country. “We have enacted the Child Right Law and even established the Family Court to address any violation of the rights of children. “So, Plateau is already leading on issues of child protection,” she said. The launch of the two documents was aimed at creating awareness on the need to increase allocations and expenditures for child protection services and dissemination of information on the need to spend more on child protection among others.

Police restrict protests in Abuja to Unity Fountain

o forestall break down of law and order, the InspectorGeneral (I-G) of Police, Mohammed Adamu, has ordered the restriction of all forms of protests within the Federal Capital Territory (FCT), to the Unity Fountain, Central Business District, Abuja. The Force Public Relations Officer (FPRO), Frank Mba, disclosed this in a statement yesterday in Abuja. Mba said the order was in furtherance of the efforts of the police to ensure security of lives and property, free flow of traffic as well as protection of economic activities.

He said it was also to ensure a more coordinated handling of peaceful protests in the territory. According to him, by this directive, intending protesters are requested to steer-clear of all critical national infrastructure, especially the Three Arms Zone and other sensitive security areas. ”They are, however, at liberty to assemble and conduct peaceful protests within the Unity Fountain, the authorised protest zone. “”The restriction is sequel to series of protests, such as the one of Oct. 30, 2018 in various parts of Abuja, which brought the Capital

City to a standstill. “ It led to crumbling economic activities and inflicting untold hardship on motorists and the general public. ”A similar protest during the same month led to the setting ablaze of a Police Patrol Vehicle at Banex Plaza, Abuja, traumatising innocent citizens. ”The recent is the one of July 9, at the National Assembly that led to an unprovoked attack on Police officers on legitimate national assignment, injuring nine of them,” he said. He said that the force was aware

of the African Charter on Human Rights, which the Nigeria had ratified and the constitutional provisions relating to the fundamental human rights, particularly freedom of expression. Mba said that the rights were, however, not absolute and were constitutionally moderated by the genuine concerns for public safety, public order and for the purpose of protecting the rights and freedom of other persons. “Needless to state that, it is within the prerogative of the police to regulate activities of protesters who have the tendency to cause damage

to lives and property. “Particularly to innocent and non-protesting citizens, who also have equal right to exercise their freedom, unmolested by the protesting group. ““It is against this backdrop that the I-G seeks the cooperation and understanding of would-be protesters and the general public. “The I-G reiterates his call for constructive collaboration between the citizens and the police in enthroning a new culture of protests devoid of violence and damage to public and private property,” he added.

NEWS

THURSDAY, JULY 18, 2019

Tanko confirmed as CJN, pledges better judiciary T he Senate has confirmed Justice Tanko Mohammad as the substantive Chief Justice of Nigeria (CJN). The confirmation followed a two-hour question and answer session between the senators

and Mohammad, who had been in acting capacity as CJN since January. President of the Senate, Dr Ahmad Lawan announced the confirmation after a voice vote at plenary on Wednesday.

Mohammad who entered the National Assembly complex at exactly 10:10 a.m., went into closed-door session with the lawmakers at 11:13 a.m. and left by 1.06p.m. The new CJN took turn to

EFCC hands over forfeited five-storey building to VON

he Economic and Financial Crimes Commission (EFCC), yesterday handed over a forfeited five-storey building to the management of Voice of Nigeria (VON), a Federal Government-owned media organisation. The building is located on Plot 1386,Oda Crescent, Off Aminu Kano Crescent, Wuse II, Abuja. The building becomes the Corporate Headquarters of VON, which until now, was squatting in its ‘parent’s house’, the Ministry of Information, popularly known as Radio House. Handing over the building to VON, chairman of EFCC, Ibrahim Magu, who was represented by the Secretary to the commission, Ola Olukoyede, said that the property was recovered from a “fraudulent Nigerian” who had stolen from the common wealth. “But the EFCC has been able to go after him and recovered this property and President Muhammadu Buhari had directed it should be given to Federal Government agency. “That is what we have done by handing over this property to VON. “The final forfeiture of the building to VON has clearly shown that the administration of

President Buhari is very serious about the war against corruption. “It will also send a signal across to the critics who will never see anything good in the war against corruption that this war is real and it has come to stay. “Whosoever has stolen common wealth of Nigeria, EFCC will go after them and we will recover the property for the use of all Nigerians,” Magu said. When asked to disclose the name of the “fraudulent Nigerian”, representative of the chairman said the forum was not for revelation of names. “What you need to know is that it was recovered from a fraudulent Nigerian. “Very soon, we will put the document to the public and you will see the process that led to the recovery of this property. “The battle for the recovery of the building had been on for two to three years; this is the result you are seeing today,” he said. Earlier, Director-General, VON, Osita Okechukwu, who was visibly elated, thanked the management of EFCC for the gesture. “VON has become a major beneficiary of one of the fruits of President Muhammadu Buhari’s

anti-graft war, courtesy of the EFCC. “Without EFCC’s stringent war against corruption, VON could have remained a squatter, 28 years after relocating to the Federal Capital Territory. “It pained me that since 1991 that VON relocated to Abuja, it remained a tenant, till now. “This is sequel to what we call an accident of fate; accident of fate for the fact that what is called the Yar’Adua Centre was the original plot of land in the masterplan of Abuja, that was allocated to VON. “It was given to a quintessential soldier, a democrat of blessed memory, a man that fought for democracy, Gen. Shehu Musa Yar’Adua. “But today, we have been compensated by the Federal Government with the bequeathal of this building. “We remain grateful to the President and the EFCC,” he said.

provide replies to questions from the senators in areas like financial autonomy of the judiciary, concept of imprisonment and corruption in the judiciary. He also spoke on the concept of individualism and collectivism in administration of justice as it affects criminal matters. Muhammad spoke extensively on the roles expected of the parliament in addressing alleged rot in the judiciary. He urged National Assembly and states Houses of Assembly to review the criminal laws in the country to effectively fight corruption. Speaking further, he said: “Nigerian judiciary is part of the Nigerian system. Therefore, I’m not surprised if some judges are corrupt, that doesn’t mean that those judges should not be identified and dealt with. “The most worrisome of it is that it happens at the lowest ebb of the courts. This is where the main problem arises. “Let me say generally that that corruption inherent in the person who is corrupt and the person who is corrupted. But all of them should be made to face the music. “I therefore urge the National Assembly and the state House of assembly to take a look at our criminal laws. “The parliament should sanitise the society. Much as we in the judiciary want to do that,

the parliament should make new laws and amend old ones,” he said. On judicial autonomy, he said: ” we have started seeing the autonomy. But go to some states, the judiciary is still refused ordinary monthly grants to run its offices. “It is the duty of the legislature to touch these places. To close all ends and identify all people being corrupted. “It is my view that it is only the legislature that can put things right.I can’t go and ask or beg anybody for anything, I’m contented with what I have.” Later in his remarks, Lawan thanked the CJN for coming to answer some questions from the Senate. He also promised him that the 9th Senate would ensure an harmonious relationship with the judiciary. “My Lord, thank you for coming to answer questions from members of the Senate. We are all ready to work with the judiciary. “We must ensure that the judiciary is properly funded and remunerated. If we are asking them to live above board. We should do the right thing,” he said. The confirmation of the CJN followed a recommendation made by the National Judicial Council (NJC) attached with his curriculum vitae distributed to the lawmakers on Tuesday.

Oyo Assembly calls for more border surveillance

he Speaker, Oyo House of Assembly, Adebo Ogundoyin, has called for increased border surveillance to reduce the numbers of foreigners and migrants entering the country illegally. Ogundoyin said this yesterday while leading other lawmakers on courtesy visit to Comptroller, Nigeria Immigration Service ( NIS), Oyo State Command, Saleh Abdullahi, at his Agodi office. He said with the spate of insecurity in the country, most of the high profile crimes are allegedly linked to foreigners. He harped on the need for NIS to do more in controlling the number of persons entering and leaving the country. He stressed that GovSeyi Makinde was keen in securing the lives and property of the residents of the state, and lawmakers too were ready to complement the efforts of the Governor. “We are ready to work with all security agencies in the state to achieve a safer and secured environment as no investment can thrive in an unsecured environment,” said Ogundoyin. He urged the officers of NIS to beam their searchlight on already identified flashpoints and other areas to further secure the nation’s borders adjudged as highly porous. Also, the Deputy Speaker, Abio-

dun Fadeyi, urged the NIS to pay particular attention to migrants and other foreigners who came into the state to perpetrate crimes and terrorise the residents. The Comptroller, Saleh Abdullah, said his officers would not relent in ensuring border patrol while stressing that the NIS had been working with other security agencies to secure all border entries into the state. Abdullahi said his officers mounted regular patrols in border communities in Saki, Iseyin, Okerete, Ayegun and Wasinmi in Okeogun area of Oyo state. He said, in order to ease the duty of the NIS in issuing travel documents to bonafide Nigerians and residence permits to foreigners, the Service had launched E-registration process. He gave the assurance that it would be opened in each of the local government offices of the Command. He warned Nigerians against employing unknown house helps as most of them who are foreigners were trafficked. Abdullah said activities of his officers in Okeogun area of Oyo state were hindered by members of the host communities who conspired with illegal immigrants to get into the state through diversionary routes.

Tanko

OXFAM wants FG to review tax incentives Continued from page 1

cial flows. “When such professionals act contrary to existing regulations, they should be held accountable in Nigeria. This can be enforced through strengthened professional association bodies. “There is also need for the Nigerian government to fast-forward action on the new National Tax Policy and clamp down on corporate crimes. “New legislation and rules to cope with current realities should be enacted along with introduction to cutting-edge technology,” he said. Tchona advised the government to make tax laws genderfriendly and more equitable to women as drivers of micro and small businesses in the country.

He also urged the government to consider making Value Added Tax (VAT) more progressive by charging more for luxury goods than service items. Tchona said that this would help to reduce wealth inequality in the country. “VAT exemption for building materials will have a direct positive bearing on middle and poor class segments of the population and make rent cheaper, thereby reducing housing deficit. “It is also important to increase direct tax net rather than increasing burden of indirect taxes like VAT. “Establishing a more progressive tax system will make it possible for government to deliver on essential public services like education, health and social protection, among others,” he said.

A 2015 OXFAM report highlights the inefficiency of Nigeria’s tax incentives where it reported that the country loses N580 billion annually through tax incentives to multinationals. The study also showed that Nigeria, Ghana and Senegal had a combined loss of over 5.8 billion dollars every year. The report further showed that tax incentives werte not the priority for investors, rather they looked for infrastructure, education and the quality of the workforce. In a related development, a report of the Federal Inland Revenue Service (FIRS) shows that about 30 per cent of companies in Nigeria were involved in tax evasion and 25 per cent of registered companies in the country were not paying tax.

NEWS

THURSDAY, JULY 18, 2019

Craze for foreign goods retards Nigeria’s GDP, creates unemployment – NOA

orried over the ugly trend, the National Orientation Agency (NOA) has lamented that craze for foreign goods by Nigerians has led to closure of local industries, high unemployment rate, low Gross Domestic Product (GDP) and capital flight. Vitus Ekeocha, the state Director of NOA in Imo State , said this at a one-day interactive forum on “Patronising Made-in-Nigeria

Goods: Buy Nigerian, Eat Nigerian, Wear Nigeria” held in Owerri on Wednesday. He said the forum was organised by the agency to sensitise and re-orientate Nigerians to change their attitude towards locally made goods, revive local industries, create employment and restore national pride. Ekeocha said it was imperative that the country should sustain the national campaign to sensitise and

re-orientate the people to change their attitude toward locally made goods to achieve the purpose. He said that for some time now, the low patronage of Nigerian made products in comparison with imported products in markets had been of grave concern to every patriotic Nigerian. “This low patronage of Nigerian goods is further compounded by the fact that domestic manufacturers, in reaction to the prevailing

negative attitude toward Nigerian products, have now resorted to deceptive branding of their products by packaging them with foreign labels and tags,” he said. Ekeocha said the objectives of the campaign was to sentisitise Nigerians to patronise and use made-in-Nigeria products, educate Nigerians on the implications of preference for foreign goods on the national economy and to encourage Nigerians to take pride in their own products. “We strongly believe that if this campaign is sustained, Nigerians will patronise and use made-in-Nigeria products which will reduce the rate of unemployment in the country and revive moribund industeries.” Ekeocha called on relevant stakeholders, especially in the manufacturing and industrial sector as well as the regulatory agencies, to collaborate with NOA to ensure that the camapaign succeeded and the GDP grew. In a goodwill message, the Coordinator of Standard Organisation of Nigeria (SON) in Imo State, Mrs Comfort Echebiri, represented by Adaora Ukozor, Senior Standard Officer in SON, expressed regret that Nigerians cherished foreign goods more than local products. “Patronising made-in- Nigeria goods should not be trivialized. “Nigeria has been striving to revive its economy. Heavy depen-

dence on foreign made products is a threat to the nations economy. Nigeria can achieve economic growth by people patronizing made- in -Nigeria goods and services,” she said. Tommy Anyawu, the Chairman, Manufacturers Association of Nigeria (MAN) in Imo State, said that government Executive Order 3 encouraged all government ministries and agencies to buy locally manufactured goods. He said it also mandated purchasing agencies of government to increase their purchase of products manufactured in Nigeria. Anyanwu said government had started reviewing tariff on imported raw materials to encourage local producers and introducing policies that would cushion manufacturing challenges. Anyanwu said that Nigerian products were often of higher quality than foreign goods, but Nigerian manufacturers were being encumbered by cost of production. Some of the participants drawn from the local government areas, various ministries and organizations called on MAN and SON to prevail on the government to handle the issue of power supply. They said government should also check activities of manufacturers of unwholesome goods. They also said they could not understand the reason local rice is more expensive than foreign rice, full of sand and scarce.

Moghalu laments Lagos accounting for 70% of credit facilities

P Dr. Garba Abari

Ondo commissioner hails NYSC’s contributions to unity

ewly appointed Commissioner for Youths and Sports Development in Ondo State, Dotun Owanikin, has asserted that the advantages of the NYSC to national development outweighed any other consideration. Owanikin stated this yesterdayat his office in Akure, when the management of the scheme led by its state Coordinator, Mrs Grace Akpabio, paid him a visit. The commissioner said that the scheme had done much in the areas of education and rural infrastructure. “Corps members have continued to support and give their best to all the tiers of government in ensuring that standards of edu-

cation are maintained in line with what is obtainable in other parts of the world. “There is no community you will go in all the nooks and crannies of this country that you will not see at least two or more corps members giving out their best to impact positively on their host communities. “NYSC has become a household name and it remains one of the few institutions that are uniting this country. ““Let me use this opportunity to charge the corps members to see the mandatory one year service to our fatherland as a transition period from dependency to independence and not a period to enjoy the much touted national

cake. ““It is unfortunate that majority of the participants see the service year as a period of liberty where that can do as they wish but far from it. “The period should be used to develop their skills and prepare for the imminent challenges that lie ahead of them,” he said. Earlier, the State Coordinator, Mrs Akpabio, on behalf of the Director-General and the NYSC Family nationwide congratulated and welcomed on board the new commissioner. Akpabio, while wishing the new board chairman a successful tenure, pleaded for enhanced relationship and better understanding of the programmes and activi-

rof Kingsley Moghalu, a former Deputy Governor of Central Bank of Nigeria (CBN), has said that Lagos accounting for 70 per cent of credit facilities in Nigeria is unacceptable. He said this could not be a model of sustainable finance. Moghalu said this in Lagos yesterday in his keynote address at the Africonomie’s “Investing Impact Capital in Nigeria” 2019 conference. Moghalu, who was the presidential candidate of the Young People Party (YPP) during 2019 General Elections, said that there were pathways to sustainability in

Prof Kingsley Moghalu

achieving inclusive access to finance that could help lift millions out of extreme poverty. He said that as a presidential candidate in the 2019 general elections, he proposed the creation of a N1 trillion that would give equity capital to unemployed, youths and women to create thousands of new business ventures. Moghalu said that SMEs represented 96 per cent of all businesses in Nigeria that had very positive impact on the economy. He said that doing business in Nigeria needed a lot of work, but “foundational inconsistencies” kept stifling the business environ-

THURSDAY, JULY 18, 2019 Vol. 06 No. 387

MARKET WATCH

More strategic investment in Africa’s ports will strengthen trade By David Oladimeji

espite the high volumes of goods that require transport, the development and integration Africa needs to take advantage of the economic potential of its ports and shipping sector if it is to realise its growth ambitions. Globally, ports are gateways for 80% of merchandise trade by volume and 70% by value. Investment in ports and their related transport infrastructure to advance trade and promote overall economic development and growth is therefore vital – particularly in emerging economies that are currently under-served by modern transportation facilities. However, port investment must be channeled appropriately to ensure financial sustainability and economic growth. Investment is not always about building new ports or terminals – investment spent on infrastructure without cognisance of the efficiency and effectiveness of the performance of the port may not produce the desired results. Port performance must be seen in the context of not only port infrastructure shortfalls, but also the fact that port performance has a direct impact on the efficiency and reliability of the entire transport network in which the port is just a node for the transfer of goods. These are among the key findings of an analysis of port development in subSaharan African. The report, ‘Strengthening Africa’s gateways to trade’, was developed in response to the challenges facing SAA’s ports in attracting external investment and highlighting the regional economic and growth benefits thereof. As an emerging market region endowed with vast resources and a growing population, SSA must accelerate its market access and trade across the region and with the rest of the world. PwC analysis shows that a 25% improvement in port performance could increase GDP by 2%, demonstrating the close relationship between port effectiveness and trade competitiveness. With growing congestion in many African ports, Africa runs the risk of sacrificing further growth through lack of investment in port terminal infrastructure. Access to effective ports, interconnecting infrastructure and efficient operations to cope with current demand and future growth, will lead to reduced costs and improved overall freight logistics efficiency and reliability – all of which are fundamental to the region’s future success. Despite the high volumes of goods that require transport, the development and integration of ports in Africa’s wider logistic chains remains uneven. Some ports are important generators of benefit and serve large hinterland areas, often extending beyond national borders. Others lag in terms of available facilities, reliability and efficiency in the handling of freight, which increase supply-chain costs. The disparities in performance between different ports impacts on Africa transport logistic chains, and makes African countries less competitive than they could be. Dr. Andrew Shaw, PwC Africa Transport and Logistics Leader, says: “Ports are a vital part of the supply chain in Africa, with many ports having a far-reaching hinterland often spanning a number of countries, which makes them a natural focus for regional development.” “In this report we show that the global transportation and logistics industry can no longer afford to ignore developments in Africa. Logistics service providers and ports in particular will continue to play a

This trade imbalance between imports and exports means that many containers return empty, thereby absorbing valuable port capacity and resulting in higher logistics costs for inbound traffic to offset the cost of an empty return leg. Improving Africa’s trade potential to export manufactured, semiprocessed or agricultural goods would significantly improve the imbalance in containerized trade. key facilitator role in trade competitiveness and thus facilitate trade and sustained economic growth across the region. Trade competitiveness requires governments and key stakeholders to see ports as facilitators of trade and integrators in the logistics supply chain. Efficient ports can make countries and regions more competitive and thus improve their growth prospects. The reliability and efficiency of each port terminal, including minimising delay to shippers, is critical to enhancing future trade facilitation.” Kuria Muchiru, Partner, Government & Public Sector PwC Kenya, adds: “Efficient port operations in Mombasa and Dares Salaam are critical to increased throughput and evacuation of cargo. Investments in rail are seen as a major step towards contributing to improved performance. Developments in multimodal operations and master planning of the ports to keep up to date with increasing throughput, which in turn fuels economic growth are critical to efficiency. In the long run East Africa is expected to a be a major transhipment hub on the East Coast of Africa, which will reduce freight costs in addition to contributing to the Belt and Road. ” Ian Arufor, Partner PwC Nigeria, comments: “International trade is a primary vehicle for the international movement

of capital to developing nations, which ultimately drives economic development.” “As the larger West African economies embark upon, or seek to accelerate, the implementation of their economic development drives, new and / or expanded port access and capabilities are increasingly recognised as key tenets of these programs. This is exemplified by the number of active port development and expansion projects in Nigeria and Ghana.” Historically, many governments have focused on the revenues that can be extracted from ports as opposed to recognising them as facilitators of trade and growth. Africa needs to shift its understanding of the role ports can play and step up investment in them to achieve its economic development goals. In particular, there should be more awareness of the greater economic benefits that effective and efficient ports can play. In SSA, the business case for port expansion is often only defined once capacity is already constrained and thus many ports operate under severe pressure while investment decisions are being made. This continual lag, which often lasts years, reduces competiveness and takes no account of the resulting reduced trade impact on African economies. In contrast, China’s approach to port investment is instructive. China considers port investments on the

benefits it receives from trade and thus regards ports as highly strategic investments in the national interest. High port logistics costs, poor reliability and low economies of scale in trade volumes have a negative impact on trade growth in Africa. According to PwC estimates, US$2.2 billion per annum could be saved in logistics costs if the average throughput at the major ports in SSA doubled. In other parts of the world, such a focus on volume and efficiency has led to a stronger emphasis on hub and feeder ports for containers and enhancing scale for commodity bulk terminals. Although individual countries in Africa have tended to push for developing their own hub ports (ports with the greatest volume potential), it is likely that we will see some ports eventually emerge as major hubs. PwC’s analysis shows that, based on the degree of shipping liner connectivity, amount of trade passing through a port, and the size of the hinterland, Durban (South Africa), Abidjan (Côte d’Ivoire) and Mombasa (Kenya) are most likely to emerge as the major hubs in Southern Africa, West Africa and East Africa, respectively. It is notable that SSA merchandise trade has increased by about 300% over the past 30 years, yet the region contributed less than 1% to the value of world trade growth during this period. The value of SSA exports has declined since the end of the resources boom, while imports have continued to grow. As demand for commodities begins to increase once more, we expect to see prices and volumes will rise again. The fact that most African countries have an imbalance in trade focused on commodity exports and manufactured imports poses major cost challenges. SSA imports are predominated by containerised cargo, while exports are mostly handled as bulk freight. This trade imbalance between imports and exports means that many containers return empty, thereby absorbing valuable port capacity and resulting in higher logistics costs for inbound traffic to offset the cost of an empty return leg. Improving Africa’s trade potential to export manufactured, semi-processed or agricultural goods would significantly improve the imbalance in containerized trade. This re balancing of containerised trade offers a unique opportunity for African countries to beneficial and expand trade in higher-value exports.

Printed and Published by Westafrican Business Newspapers Ltd., 9, Fadeyi Street, Ikeja, Lagos. Abuja Office: 1st Floor, BEF’s plaza, Utako, Abuja. Editor, Enyi Moses – 08037152217 Email: letters@wabusinessnewsng.com, westafricabusiness@yahoo.com, www.wabusinessnewsng.com, Newsroom: 08027562807,, Advert hotline, Lagos: 07015151515. All correspondence to Westafrica BusinessNews. P.O. Box 3120, Shomolu, Lagos.