Sunday 25th December 2017

State Legislatures Will Approve Share of ECA Withdrawal, Says Masari Insists NGF decision was unanimous Bolaji Adebiyi and Ibrahim Shuaib in Katsina States’ share of the controversial $1 billion approved for withdrawal from

the Excess Crude Account (ECA) by the Nigerian Governors’ Forum (NGF) and the National Economic Council (NEC) will be appropriated by the Houses of Assembly of

the 36 states of the federation before its eventual release, Katsina State governor, Aminu Masari, has said. Masari, who spoke to THISDAY on Saturday night

in Katsina, also clarified that the huge sum was approved to improve the operational capability of the military to fight the insurgency in the North-east, insisting that

contrary to the claims of some of his colleagues from the South, the decision was unanimously made when the matter was discussed at both the NGF and the NEC.

Edo State governor, Godwin Obaseki, had announced at the end of the monthly NEC meeting, penultimate week, Continued on page 8

EFCC Files Fraud Charges Against Innoson Boss, Chukwuma, Others … Page 10 Monday-Tuesday 25 -26 December, 2017 Vol 22. No 8285. Price: N250

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President: Goodwill of the Masses Keeps Me in Politics Babangida, Osinbajo, govs, others praise him, say he’s democratic, humorous Omololu Ogunmade in Abuja, Ejiofor Alike and Eromosele Abiodun in Lagos

L-R: CEO, Chapel Hill Denham, Mr. Bolaji Balogun; Gombe State Governor, Mr. Ibrahim Dankwambo; Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe; Mrs. Egbe Otubu; her husband, Dere; former Delta State Governor, Dr. Emmanuel Uduaghan; former President, Council of the Nigerian Stock Exchange, Mr. Aigboje Aig-Imoukhuede; and Chairman/Editor-in-Chief of THISDAY Newspapers and ARISE News Channel, Mr. Nduka Obaigbena; at Egbe Otubu’s 50th birthday celebrations, held in Lagos… weekend

The much-awaited one-hour documentary meant to depict the lighter side of President Muhammadu Buhari was aired yesterday on the Nigerian Continued on page 9

Buhari Expresses Regret over Fuel Crisis, Subsidy Hits N40.70/Litre Passengers travelling for Christmas stranded NNPC says FG will not raise pump price APC, PDP trade tackles over lingering scarcity Omololu Ogunmade, Onyebuchi Ezigbo and Chineme Okafor in Abuja As Nigerians face a bleak Christmas characterised by fuels shortages, soaring

transportation and food prices, and their inability to even travel to their country homes to spend the season with their loved ones, President Muhammadu Buhari yesterday broke his silence on the crisis

and expressed his regret over the harrowing situation. He also expressed sympathy with Nigerians. Buhari in a statement that he personally signed and posted on his Twitter

handle @MBuhari, said he sympathised with Nigerians on the “needless” queues they have had to contend with in recent times, adding that he had directed regulators in the oil and gas sector to increase

their surveillance and end hoarding and price hikes by fuel marketers. The president, who said he was being briefed regularly on the effort by the Nigerian National Petroleum

Corporation (NNPC) to ensure availability of fuel across the country, added that he had been assured by the NNPC that a significant improvement would be witnessed in the Continued on page 8

To our readers: In keeping with our tradition of observing Christmas Day, THISDAY, your favourite newspaper of record, will not be on the newsstands on Tuesday, December 26, 2017 but will be back on Wednesday, December 27, 2017. We wish our readers a very Merry Christmas. – Editor

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PAGE EIGHT BUHARI EXPRESSES REGRET OVER FUEL CRISIS, SUBSIDY HITS N40.70/LITRE next few days. According to him, the corporation had also disclosed that new shipments of fuel were being distributed nationwide, noting that the relevant agencies would continue to provide updates on the situation, even as he thanked Nigerians for their patience and understanding. He said: “The fuel scarcity being experienced nationwide is regrettable. I sympathise with all Nigerians on having to endure needless fuel queues. I’m being regularly briefed, especially on NNPC’s interventions to ensure that there is enough petrol available during this period and beyond. “I have the NNPC’s assurance that the situation will improve significantly over the next few days, as new shipments and supplies are distributed across the country. “I have also directed the regulators to step up their surveillance and bring an end to hoarding and price inflation by marketers. Let me also assure that the relevant agencies will continue to provide updates on the situation. I thank you all for your patience and understanding.�

Xmas Travellers Stranded But as the petrol shortages bit harder, passengers travelling for Christmas were stranded at the Mararaba bus park in Nasarawa State, among several others nationwide yesterday. This was compounded by the few transporters who had fuel but cashed in on the development by increasing fares arbitrarily. According to the News Agency of Nigeria (NAN), many travellers were forced to cancel their trips and return home due to shortage of vehicles at the parks. Ernest Obi, a businessman who was supposed to travel to Enugu State from Maraba, near the Federal Capital Territory, Abuja, said he would not be able to embark on the journey. He said had he spent four hours at the Mararaba park, but was unable to get a vehicle. “I cannot imagine what people are going through. Our staying in this country is becoming unbearable. “I came to the park as early as 7 a.m. and this is noon. I have not seen a vehicle to convey me to my village. “You can see the crowd yourself. Why is it that this scarcity occurs around the

Christmas season every year?� Another intended traveller, Joy Andrew, said the Christmas period was a time and opportunity for most people to travel and meet loved ones and parents. Ms. Andrew who was seen leaving the park, said she would try again last night. “I think I will take a night bus after what I have experienced. May be it will be better,� she said. She added that the situation had also caused a lot of exploitation of travellers by drivers and bus owners. “This situation is making the drivers to exploit commuters as many of them have increased the price of transport fares. “I used to pay N2,500 from this park in Mararaba to Benue. But today, the drivers are asking for between N4,500 and N5,000,� she said. Another intended traveller, Jacinta Uche said: “The situation is so bad. I got here as early as 6 a.m. thinking that I will avoid the rush. “But to my surprise, I met so many other passengers who said they got here before me. There are few cars at the park and those that are available, have doubled their fares. “I will not be going back home. This year’s Christmas will be dull for me because I don’t think I will make it to the village,� she said. Other than the lack of vehicles at the bus parks, the fuel crisis resulted in a traffic gridlock along the Abuja-Keffi expressway as commuters spent hours on the road; the same was replicated from Ore to Benin and several other expressways in the country.

NNPC: No Price Hike Meanwhile, in the bid to throw more light on the efforts by government to end the fuel crisis, the Group Managing Director of NNPC, Dr. Maikanti Baru said yesterday that the president has ordered inland and border security agencies in Nigeria to improve their surveillance in order to checkmate the diversion of products to neighbouring countries and hoarding by marketers. Baru who spoke at a briefing in Abuja, said this was the outcome of the meeting he had with Buhari on Saturday, during which they discussed the situation and its attendant pains on Nigerians. The NNC boss said that he told the president that the situation has remained largely

difficult to overcome despite the corporation’s efforts so far because of product diversion and hoarding by marketers. He said based on this, Buhari issued a directive to the relevant security agencies in the country to checkmate the diversion of petrol, including tightening the movement of petrol tankers across the country’s borders. He also said that on the back the presidential directives, the corporation was expecting the security agencies to complement its efforts to clear the situation within two days, especially with the 13 vessels containing up to 650 million litres of petrol at the ports that were being discharged for onward distribution across the country. “It has become absolutely necessary for me to address this gathering and to show our concern and also sympathise with citizens for this uncomfortable situation experienced by citizens, especially in major cities of the country where Nigerians have to queue for hours with their vehicles to travel for Christmas and the New Year. “What I can assure you is that Mr. President has already responded as part of the discussion we had yesterday. On his Twitter handle, Mr. President has indicated that part of our discussion was to get the regulatory and security agencies to beef up their surveillance and enforcement of distribution of products because part of my briefing to him was that there is still significant hoarding and diversion where trucks that are loaded to supply products to specific stations get diverted elsewhere and are smuggled out of the country. “The immediate response of Mr. President was for him to direct the boarder agencies as well as the security and regulatory agencies to ensure that all trucks that are loading deliver to the stations they are meant to deliver,� Baru said. He further stated: “Part of my briefing in the same light is the fact that a lot of stations outside the cities have products and they are selling at a much higher price than N145 per litre. “If they had been directed to go to their correct locations and they delivered and sold at the control price of N145, then this should have been curtailed.� He explained that based on the presidential directive, the corporation was confident of seeing out the situation within two days.

“With the drive and the loadout we are doing, if we get full compliance, we don’t see it going beyond the next two days. “However, you know there is always a time-lag, but we will continue to put all the efforts to see that this does not go beyond the end of this week,� added Baru. While buttressing his confidence in the corporation’s plan to address the situation, Baru stated: “As I am talking, NNPC has 13 vessels that are discharging products at the various ports. “The 13 vessels will have about 650 million litres, so there are products. And we are also expecting three more vessels to come in before the end of the week. “In terms of sufficiency, I can comfortably tell you that we have about 814 million litres of products that will be in the tank farms or distributed before the end of the month.� On the capacity of the corporation to continue to shoulder the burden of being the sole importer of petrol in the country, considering the present supply gaps, Baru said: “NNPC is the supplier of last resort and will continue to carry that burden and that is why at the shortest possible time we deploy all the arsenal we have to satisfy the nation, but at the same time we want to see active private sector participation.� He also talked about the cost of importing petrol into the country and the seeming pressure by marketers on the government to hike the price, in accordance with market forces. Baru explained that as of Friday last week, the landing cost for a litre of petrol was N171.40, but the federal government has no plan of increasing the cost at the pumps. Based on THISDAY’s calculations, with the addition of the N14.30 per litre distribution margin approved in the last pricing template for petrol by the Petroleum Products Pricing Regulatory Agency (PPPRA), the current market price of petrol in the country should be N185.70, implying that the government is subsidising petrol consumption by as much as N40.70 per litre In this regard, Baru said: “The landing cost comprising CIF (cost, insurance and freight) of petrol as of last Friday was in the neighborhood of $620 per metric tonne, so with the official exchange rate of N305 to the dollar, the landing cost should be N171.40 per litre.

“The government has consistently indicated that N145 per litre is the price and it has mandated the NNPC to keep the depot price at N133.28 per litre, so as to maintain a cap of N145 per liter. “So, there is a lot of profit in between after taking the transportation cost of N7 off; there is sufficient margin for marketers in that PPPRA template at the price cap. “The government is reassuring Nigerians that the price cap of N145 per litre, irrespective of the CIF landing cost is guaranteed, so marketers should play within that margin. “We have been doing that, and last year, it was the same regime that we were selling to them and they were able to sell at low prices. But obviously, profiteering is setting in and I find it quite obnoxious at this time of the Christmas and New Year celebrations.�

APC, PDP Bicker But even as the government went into overdrive to assuage frustrated Nigerians over the fuel shortages, the two main political parties in the country – the All Progressives Congress (APC) and Peoples Democratic Party (PDP) – traded tackles yesterday over the worsening fuel supply situation. Whereas the ruling party described the situation as unfortunate and said it was beyond politics, the opposition PDP blamed the APC-led federal government for its “sheer incompetence and gross insensitivity�. In a statement issued by the APC spokesman, Mallam Bolaji Abdullahi, the ruling party said it acknowledged the difficulties Nigerians were experiencing as a result of the unfortunate fuel scarcity across the country, especially during the Yuletide period. However, the party condemned what it described as bad politics and the desperation by the PDP to make the government and the ruling party look bad by maliciously fabricating and circulating fictitious statements in the name of government and party officials. While empathising with Nigerians over the difficulties they were confronted with, APC appealed for patience with the federal government, assuring them that efforts were being made to improve the situation. “We understand that the

STATE LEGISLATURES WILL APPROVE SHARE OF ECA WITHDRAWAL, SAYS MASARI that the 36 state governors of the federation had approved for withdrawal from the ECA, $1 billion to assist the federal government fight the Boko Haram insurgency in the North-east. But the decision was immediately controverted by some governors, including Ekiti State’s Ayodele Fayose and some critics who contended that it would be unconstitutional and unlawful except the money was duly appropriated for that purpose by the National Assembly and the state assemblies. Last week, the National Assembly joined the fray, contending that due process of appropriation would have to be followed before the funds could be withdrawn, even though the Senate adjourned debate on the matter until its resumption from the Christmas break. But Masari told THISDAY that the controversy was unnecessary since there was a clear intention to send the decision to the various state legislatures for approval before the funds could be withdrawn and expended. “We had no intention of bypassing due process as there

was a clear understanding that each state’s share of the funds would have to be approved by its House of Assembly,â€? he said, reminding Nigerians that this was not the first time that states and the federal government would be collaborating to sponsor a project directly from the ECA. He referred to the funding of the National Integrated Power Projects (NIPPs) under the Umaru Yar’Adua's administration, which required each state legislature to approve its share of funding of the project from the ECA. On the argument that the states could not appropriate the funds in isolation of local governments, Masari said: “We spoke on behalf of our states and local governments,â€? assuring that “we the governors through our Houses of Assembly will make whatever documentation as required available‌ and we believe our local governments will also make whatever documentation is required availableâ€?. Against this background, the governor said the National Assembly’s query of the $1 billion would have to be restricted to the federal government’s share of it, as the federal legislature

cannot legislate for the states. “So, the National Assembly should be talking about that percentage of the $1 billion that belongs to the federal government; they shouldn’t be talking about what belongs to states and local governments,� he stated. Explaining the circumstances of the decision, Masari corroborated the claim of Vice-President Yemi Osinbajo that it arose from national security stakeholders’ grave concerns over the appalling state of equipment of the military in particular, and the security architecture of the country in general. According to him, “We had interactions with various stakeholders in the security sector of the country and the governors of what we can call frontline governors. We have them in the North-east and we have them in the South-south, who are directly being affected by the insurgency and criminality, respectively. “And we know that the budgetary provision is not enough to cater for a military that was neglected for a very long period. There was the suspicion

that the Armed Forces were not equipped so that they wouldn’t stage a coup. “Under the civilian administration (Fourth Republic) when we came in the reorganisation started. If you can remember, President Olusegun Obasanjo had to purge any officer that had tasted political power all in an effort to bring back the Armed Forces to their traditional role. “Then came the communal clashes immediately after taking over in 1999 – the Kaduna crisis, religious and tribal crises that over stretched the police and members of the Armed Forces. And came the big one – the crisis in the North-east and the crisis in the Niger Delta that required the military, the Armed Forces, to be fully equipped and to be trained. “We realised that unless you train somebody to deal with today’s and tomorrow’s problem, he would not be able to deal with it with the knowledge of 20 years ago. He will not succeed because training is key, to bringing members of the Armed Forces to date in confronting today’s problems.

“How would you ever imagine that a local Fulani man will be carrying AK 47 instead of carrying an ordinary stick? Times have changed, so we need members of our Armed Forces also to be properly equipped and trained. “And we know through the budgetary provision which is all known to everybody that cannot be achieved in good time.� He said reports from the frontline governors were frightening enough for the other governors to think of enhancing the equipment of the Armed Forces, kit them adequately, and take care of their welfare. Masari said the decision to excise the fund from the ECA to equip the military was understood by his colleagues to be in the national security interest, hence the unanimity with which it was made at both the NGF and the NEC. According to him, “Any governor who says he did not agree, is playing to the gallery. When we discussed it at the governors’ forum there was no dissension. And when it was discussed at NEC there was no dissension.�

federal government is doing everything to improve the situation and bring succour to the people as soon as possible. “We also understand the unhappiness of Nigerians with this situation, which is happening for the first time in the Christmas period since the APC administration came to power. “We also wish to note that while we accept the choice of the opposition PDP to make political gains out of the difficulties that Nigerians are experiencing as a result of this fuel scarcity, we however condemn their desperation to make the government and our party look bad by maliciously fabricating and circulating fictitious statements in the name of our government and party officials and then attack us on the basis of those same statements that they fabricated in the first place. This is bad politics. “Once again we empathise with Nigerians at this difficult time and appeal for patience with the federal government as it makes efforts to improve the situation and find a lasting solution to this problem that has bedevilled every administration in our country, including the PDP administration under whose government, Nigerians would recall, the oil cabal enjoyed unprecedented prosperity,� APC said. In response, the PDP bemoaned what it described as the “gross insensitivity of the APC-led federal government� in the face of the biting economic hardship Nigerians have been facing, now worsened by the fuel shortages. The opposition party said it was disheartening that Nigerians cannot celebrate the yuletide season due to the current biting economic hardship, worsened by acute fuel shortages brought on by the “shambolic policies, sheer incompetence and gross insensitivity of the APC-led federal government�. The PDP spokesman, Kola Ologbondiyan, in a statement described the nation’s economic situation as a national embarrassment that could not be glossed over with deceit, lies and propaganda, and urged Nigerians to overcome this very sordid situation by rallying round in true love as epitomised in the birth and teachings of the Lord Jesus Christ. It urged Nigerians not to despair but to use the occasion of this year’s Christmas to show love, care and encourage one another, regardless of their religious, ethnic and political inclinations. “Indeed, this is the worst yuletide ever. There is no way one can sugarcoat the fact that the anguish Nigerians face today is Continued on page 9

TOP GAINERS NGN NGN % CADBURY 1.33 14.33 10.2 VITAFOAM 0.14 2.94 5.0 SEPLAT 0.28.40 596.40 5.0 NEM 0.07 1.50 4.9 LINKAGE 0.03 0.66 4.5 TOP LOSERS NGN NGN % UNILEVER 3.21 40.68 7.3 UNIPRESS 0.12 2.28 5.0 MEDVIEW 0.10 1.90 5.0 NPFMFB 0.05 1.25 3.8 C & I LEASING 0.05 1.32 3.6 HPE Nestle Nig Plc â‚Ś1,475.00 Volume: 204.484 million shares Value: N1.530 million Deals: 2,889 As at yesterday 22/12/17 See details on Page 35

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Power Generation Hits New Peak of 5,222.3MW Chineme Okafor in Abuja The Transmission Company of Nigeria (TCN) has said that Nigeria on December 18 attained another milestone when power generation and transmission peaked at 5,222.3 megawatts (MW). TCN said in a statement yesterday from its General Manager, Public Affairs, Ndidi Mbah, that this was achieved after two electricity generation

milestones of 5,155.9MW and 5,074.70MW were reached on December 8, 2017 and February 2, 2016, respectively. Mbah explained that the gradual but steady improvement in the nation’s power sector was as a result of the strategy of the administration to improve the power sector. She stated that the TCN has keyed into the plans of the government for the sector and developed a Transmission

Rehabilitation and Expansion Programme (TREP) which would enable it prioritise and execute critical transmission projects across the country. According to her, this necessitated the clearing of TCN’s stranded containers containing various transmission equipment at the seaports, to enable it complete previously abandoned projects to further expand the transmission grid. Mbah said that of the 759

containers abandoned by contractors at the ports within the last five years, 454 have been cleared by the TCN from March to date, adding that payment for 193 containers had been made and were being cleared. Payment for the outstanding 112 containers, she stated, was yet to be made. She further explained that all the 454 containers cleared from the ports had been taken to various construction sites of

the TCN in Yola, Gulak, Katsina, Jos, Dambatta, Ganmo, Abeokuta, Onitsha and Benin, as well as to Odoguyan, Ede, Igangan, Okene, Walalambe, Akwanga, Kachia, Kumbotso and Kaduna. She added that the containers had been abandoned at the ports for between two and six years by contractors for various reasons, including suspension of TCN’s Import Duty Exemption Certificates (IDECs) in 2013 by the Ministry of Finance, slow

processing of the IDECs by TCN in the past, and inefficiency of the contractors. “The result was several uncompleted transmission projects in various parts of the country,� Mbah stated. She reiterated TCN’s commitment to stabilise, rehabilitate and expand the national grid and called on the public to work with it to safeguard transmission facilities across the country.

leadership. He said in the war against corruption, Buhari had shown respect for the rule of law by working with the National Assembly and the judiciary. In his contributions, the national chairman of the APC, Chief John Oyegun said he found it strange that some people have described the president as not being democratic. According to him, the president was a democrat who respects the constitution of APC and that of the country. In his remarks, the Minister of Power, Works and Housing, Mr. Babatunde Fashola described Buhari as a listening president who would not sign any document unless he understood it. He disclosed that Buhari gave him the Mokwa-Jebba Road, Lagos-Ibadan Expressway, and Second Niger Bridge as priority projects when he took over as the works minister. “He is open to divergent views and he will be the first to tell you that he is not going to do anything unless he understands it,� Fashola said. A former Minister of Petroleum Resources, Prof. Tam David-West also said Buhari was the cleanest and most incorruptible president he had come across, while the Minister of Foreign Affairs, Mr. Geoffrey Onyeama said the president’s strength was his personal discipline. “When we go for meetings, most of the leaders would leave after speaking without waiting to listen to others. But President Buhari will speak and sit down to listen to others. Others leave once they have spoken,� Onyeama said. Onyeama debunked also claims that the president was an ethnic and religious jingoist, revealing that Buhari was worried when he was falsely accused of dragging Nigeria into an Islamic alliance and had directed him (Onyeama) to clarify the issue. Minister of Solid Minerals, Dr. Kayode Fayemi described Buhari as a funny man, who could even laugh at himself. Fayemi said Buhari believes in the people who work for him and does not micromanage them. “There is nothing bad in delegating, you don’t want to see someone micromanaging

everything or put an eye on what they do. The president is not a micromanager, he is not a breath-down-your-neck president, he lets you act. “He is someone who believes in the people who work for him. He also has a vice-president who is known to be very detailed in everything; it is a very complimentary relationship that they have managed to forge, “he said. According to him, the president has immensely a jovial personality. Also appearing in the documentary, the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina called on Nigerians to stand by the president, despite the current tough climate in the country. According to him, there will be a dramatic change before the end of the president’s four years mandate. He said the president believes in loyalty, adding that the president stands by persons when they have proven to be loyal. Similarly his colleague, the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu described Buhari as a complete democrat who abides by the rule of law. “The three arms of government have enjoyed the healthiest relationship since Buhari assumed office. I remember at the beginning of the crisis at the National Assembly, the president refused to interfere in the election of the Senate President and Speaker of the House of Representatives. He is not dictatorial or imposes his views on others,� he said. Meanwhile, Adesina, yesterday responded to the scathing criticism of the decision by him and his colleagues to air a documentary on the president yesterday and today in the midst of the crippling fuel crisis in the country. The presidential spokesman, in a statement emailed to the electronic media, said fault finding had become the trade mark of certain persons, adding that such individuals would even dare to “murmur against God� should they erroneously make it to heaven. He said whereas the main criticism of the move arose from perceived insensitivity on their

part following the lingering fuel scarcity plaguing the country, the problem was not enough to put off such a plan, arguing that life must not necessarily be about doom and gloom or wearing of sackcloth and sitting in ashes. Adesina described the current fuel scarcity as a product of deliberate mischief and sabotage by some oil marketers whom he said only want to frustrate the government and leave it with no option than to hike the pump price of fuel. He said the by-product of the fuel crisis has been hoarding and panic buying, adding, nonetheless, that the government was working assiduously to end the scarcity. He reasoned that Nigerians must not be consigned to the world of fuel scarcity and therefore close their minds against other important things. He also argued that the current circumstances, notwithstanding, Buhari was loved by millions of Nigerians whom he said were eager to watch the documentary. Adesina stressed that this moment of fuel scarcity was a passing phase, which cannot be an end in itself. “I have read a lot of reactions, particularly online, on the timing of the airing of the documentary on President Muhammadu Buhari, slated for December 24 and 25, 2017, respectively, by 8 p.m. on NTA and Channels Television. “Some of the comments are borne out of genuine concern, which we appreciate, while others are virulent, coming from inveterate complainers. Fault finding is the stock-intrade of such people, and if they mistakenly find themselves in Heaven, they would even complain against God. They have no other pastime. “The reactions mainly dwell on the fact that a documentary showing the human side of the president (as against the well known iron and steel) is coming at a time there is severe fuel scarcity in the country. “And I say, why not? Is life all about doom and gloom? Must we sit in ashes and wear sackcloth perpetually, and ignore the brighter side of life? God forbid.

PRESIDENT: GOODWILL OF THE MASSES KEEPS ME IN POLITICS Television Authority (NTA), with the president admitting that the goodwill of the masses has sustained him in politics. The documentary titled, "The Human Side of President Buhari," also featured a conglomeration of former military president, General Ibrahim Babangida, Vice-President Yemi Osinbajo, governors and chieftains of the All Progressives Congress (APC), ministers in the cabinet and the president’s aides who praised the president to the high heavens. Chiefly, those that featured praised him for being a democrat and a stickler for the rule of law and due process, a man of integrity, one with humour, one who has confidence in his appointees and is not a micromanager of people and resources. Making only a brief cameo appearance in the documentary, Buhari said he had so far been sustained in politics by the goodwill of the masses as well as his central goal to always provide accountable and transparent leadership. The president said he prayed five times a day and thanks God whom he said had enabled people to understand and believe in him. “I pray five times a day thanking God that (He has) allowed people to understand and believe me. This goodwill that I enjoy from the masses is what is keeping me in politics, and of course, my central objective is to provide transparency and accountable in government,� he said. In his own comment about the president, Babangida described him as a man with a good sense of humour and was approachable. “He has a good sense of humour. I believe he is approachable. When talking to him, you know he has a good sense of humour,� Babangida who led the coup d’etat that overthrew Buhari as military head of state in 1985, said. His aides, who also spoke glowingly about the president, also described him as a leader who has a deep sense of respect for the rule of law and due process. For instance, Osinbajo said the moment an issue was discussed with him, the first question he would ask is, “what does the law say?� According to him, he had to remind him one day that it was himself (Osinbajo) as a lawyer who ought to be more bothered about the law than the president. Osinbajo described his boss as very democratic, stressing that the president was also fixated on the constitutional process. “I can tell you that he really has turned 360 degrees from his military days. Often times when he insists that we must follow the law and ask what the law says about certain matters, I remind him that I am a lawyer. Once you convince him and he is confident with that situation he accepts it,� he said. He said the president gives his aides a free hand to do their job, adding that Buhari strongly believes in the ability of the people he appointed to

carry out their duty. “Personally speaking, I have enjoyed so much favour from him. He believes that I am capable and he has allowed me to perform duties that are not constitutionally assigned to me. He does not second-guess me. “What he generally would do is expect that you carry out what you are asked to do within a certain period. He is someone who engages and is willing to hear others out. I have never found him to be completely rigid except in matters of principles. “He is someone who is very passionate about the country. He will always tell you he is someone who has always earned a monthly salary and as such knows how it feels when people are not paid at the end of the month,� Osinbajo explained. Osinbajo also described him as a fair minded person who always seeks to know the emerging argument at every stage, adding that he had never found him to be rigid except over a matter of integrity. Also featuring on the documentary, Kaduna State governor, Malam Nasir el-Rufai who said he had pitched his tent with the president forever, spoke on Buhari’s “fantastic sense of humour�, recalling that before the 2015 elections, he would make roll on the floor with laugher, a development he said time and exigencies do not permit them to replicate any longer. He added that Buhari represented Nigeria’s best hope for a stable country that would transit to the 21st century. “I have complained in private several times to the president that partly because he was head of a military regime, he has become excessively democratic such that at times we have to force him to do things and he will tell you, ‘If I do this they will say I am dictatorial. When I was military head of state I was young brash and it was a military regime’,� the governor said. The Kaduna governor stressed that Buhari was so conscious of the need to be seen to be fair and democratic in everything he does, to the extent that people sometimes took advantage of him or took it as a sign of weakness, which was not the case. “I believe that Buhari is more than qualified to lead Nigeria at this point in time, I think he represents our best hope for a stable country that will transit to face the 21st century. This is why I stuck with him for years, I will remain with him till the end and I have no regret,� he said. Speaking on the president’s strengths, el-Rufai stated that Buhari was the most honest man he ever knew especially in public service. “His second strength is his sense of social justice, he always tries to be fair to everyone and never rushes to judge anyone. When you report the activity of an official, he doesn’t rush to suspend or fire him, he asks for proof and he has to see this once or twice before he acts. “He is so worried about being unjust to anyone that sometime he takes his time before he takes

a decision. “The other one is his sense of vision where he wants to take the country. As someone who was orphaned and how Nigeria has been kind to him, he is so worried about the sense of injustice in the country and he wants to correct that,� el-Rufai said. In his remarks, Ogun State governor, Senator Ibikunle Amosun said the president was a team leader and has a preference for listening to contributions of participants at every meeting, including the meeting of the National Council of State. Like others, the Ogun governor said the president was a democrat who was open and transparent in his dealings with the governors. “If you want to see somebody that loves Nigeria and would love to see that things are done the way it should be done, appropriately and follow it the way it should be followed, it is President Muhammadu Buhari,� he said. “I wish I had his patience. He would listen to everybody and then take a decision. He is a reformed democrat,� the governor said. In the same vein, Senior Special Assistant to the President on Diaspora Matters, Hon. Abike Dabiri-Erewa, said whereas Buhari as an ex-military ruler was perceived to be very dictatorial, he is today very democratic but did not deem his military background as a negative attribute. According to her, the president’s military background has its advantages in terms of discipline and keeping to time, but added that he was now a stickler for the rule of law and a man of integrity “who will never steal money�. The Minister of Agriculture, Chief Audu Ogbeh, also described him as a man who could "tolerate few mistakes" and doesn't require his ministers to take permission from him before doing their jobs. "In the course of your normal duty, he doesn't interfere," Ogbeh added. On his part, Chief Audu Ogbeh said the president was very democratic in governing the country. “Have you seen any governor in this country write to his deputy to take over when he wants to travel? President Buhari wrote to the National Assembly that he was travelling. How much more democratic can a leader be? Some governors who travel would rather hand over to their special assistants rather than to their deputies,� he said. Ogbeh said Buhari believed in the rule of law and had also imbibed democratic principles. The minister urged Nigerians to give the president a chance, adding that the days were coming when Nigeria’s prosperity would reach every Nigerian. Also speaking, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelama said for Buhari to contest the presidential election four times was indicative that he is a democrat. Enelama said the president was not a micromanager but a visionary leader, who detests corruption and provides good

Continued on page 10

BUHARI EXPRESSES REGRET OVER FUEL CRISIS, SUBSIDY HITS N40.70/LITRE because of the incompetence of the APC government, which has also amply demonstrated that it does not care about the welfare and happiness of the citizens. “Our country’s economic situation has astronomically gone from bad to worse in the last two years, and painfully, there is no hope in sight under this APC regime. “As we speak, many families are completely stranded; many more can no longer afford their basic needs. “Nigerians have become ravaged by economic hardship because the APC-led federal government has abandoned them and refused to channel the abundant resources available in the nation for the good of the

people. “Instead, they are heartlessly diverting such resources for their selfish political purposes while the people suffer. “These horrendous realities imposed on us by the APC, notwithstanding, we must not become despondent. “This Christmas season presents us very strong lessons in hope and our collective triumph over adverse situations as exemplified in the birth and teachings of the Lord Jesus Christ. “Now that it has become manifest, even by their speeches this season that those who promised Nigerians El Dorado do not have the slightest capacity to fulfil the smallest of their promises, we as a people must

not also abandon ourselves. “We must therefore rise above all divisive ethnic, religious and political considerations and make this season merry by helping and encouraging one another in love. “The ugly situation we all confront with today as a people must therefore serve as the catalyst for a prosperous tomorrow as Nigerians join hands with the PDP to restore our dear nation to the path of good governance and national prosperity come 2019,� it said. Despite the discomfort occasioned by fuel shortages, PDP urged Nigerians to use this period to pray for the prosperity and unity of our nation and wished them a happy Christmas and prosperous New Year ahead.

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MONDAY-TUESDAY DECEMBER 25-26, 2017 ˾ T H I S D AY

NEWS

News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081

PDP Governors: Why We Supported Secondus for Chairmanship Post Ernest Chinwo inPortHarcourt State governors elected on the platform of the Peoples Democratic Party (PDP) have explained that they supported the emergence of Prince Uche Secondus as national chairman of the party because of his strength, character and honesty. This came as Secondus prophesied that the new National Working Committee (NWC) would drive the party to win the 2019 elections. The governors stated that Secondus as the then National Deputy Chairman stood for the truth and ensured that rules were adhered to during party primaries. They spoke at the thanksgiving service in honour of Secondus at the Rivers State Ecumenical Centre

in Port Harcourt yesterday. Rivers State Governor, Nyesom Wike, said every governor gave testimony on how the national chairman stood firm for the right thing to be done. He said as the then Deputy National Chairman, Secondus relegated monetary considerations and always ensured the promotion of PDP interests. Wike said Secondus insisted on his emergence as PDP governorship candidate because he felt it was in the best interest of the party, even though other groups preferred an ethnic candidate. He said: “This position is an opportunity to give Nigerians what they want. I can’t understand why people are suffering untold hardship. Imagine the fuel scarcity

with people buying a litre of fuel between N300 and N400.” Wike said Secondus emerged through a credible process where all candidates tested their popularity, adding that the governors and other stakeholders preferred Secondus because of his experience and track record. “For the first time in the history of our party, we had an election to elect a national chairman. It was not like the case before where the president and governors decided on a consensus candidate,” Wike said. Cross River State Governor,

Professor Ben Ayade, said he encountered Secondus when they had a major challenge in the delegates list of the party, but that the former deputy national chairman insisted on correcting the illegality without inducement. He said all the governors who worked for the emergence of the national chairman did so because of the unflinching support Secondus gave them in the past. Ebonyi State Governor, Dave Umahi, said: “Secondus stood with me when the promise of man failed.”

He said all the governors resolved to work with Wike in canvassing for Secondus because of his character and content. He said the governors turned their backs on those who took money in the past. In his remarks, Abia State Governor, Dr Okezie Ikpeazu, commended the presence of mind of Secondus, which he said would be beneficial to the party. He said: “We are prepared to go the whole route with Secondus. He will be an exemplary party leader in Africa.

In his speech, national chairman of the PDP, Secondus, said the PDP is poised to take over the leadership of the country. He said: “We are going according to the plans and purpose of God. This country will be returned to the PDP, whether you like it or not, it is approved in heaven. You cannot do otherwise.” While thanking God for his grace and blessing that delivered the position of the national chairman, Secondus said God used Wike and his colleagues to bring the post to fruition.

11 Women Conveying Bride in Kano Killed in Road Crash, Four Others Injured Ibrahim Shuaibu inKano No fewer than 11 women died in a fatal auto crash in Kano at the weekend in Naibawa area while conveying bride to the husband. The spokesman of the Kano Sector Command of the Federal Road Safety Commission (FRSC), Mr. Kabir Ibrahim-Daura, told journalists yesterday that the incident happened around 8:30p.m. last Saturday at the old toll gate near Sa’adatu Abubakar Rimi College of Education, Kano. He said: “Eight persons died on the spot because the vehicle

after hitting the toll gate, split into two instantly.” Kabiru said the women were conveying a bride from Unguwa Uku to Naibawa Yan’lemu area when the driver lost control of the vehicle and hit the toll gate. The FRSC spokesman explained that eight women died on the spot while the remaining three died at the hospital. According to him, three other women and the driver were still at the hospital receiving treatment. He blamed the accident on over-speeding, and urged other motorists to drive with utmost care by obeying all the traffic rules.

USHERING IN THE CHRISTMAS SEASON…

Akwa Ibom State Governor, Mr. Udom Emmanuel; his wife, Martha; Speaker, Akwa Ibom House of Assembly, Hon. Onofiok Luke; and Senate Minority Leader, Senator Godswill Akpabio, during Akwa Ibom Christmas carol festival held at the Uyo township stadium… weekend

Mining Dispute: Dangote Lied to FG on Court Pronouncement, Says BUA

EFCC Files Fraud Charges against Innoson Boss, Chukwuma, Others

Obinna Chima

The Economic and Financial Crimes Commission (EFCC) has filed a fraud charge against Mr. Innocent Chukwuma, alias Innoson, his company, Innoson Nigeria Limited, and his brother Charles Chukwuma. The charge was dated November 30, 2017, and filed at a Lagos High Court. In the case, the EFCC is accusing Innoson of obtaining containers of motorcycles spare parts by false pretences between 2009 and July 2011 in Lagos, “with intent to defraud”. The goods, said to be property of Guaranty Trust Bank Plc, were allegedly obtained from Mitsui O.S.K Lines Limited in Apapa. The anti-graft agency claims that Innocent Chukwuma and Charles Chukwuma, “with intent to defraud induced the staff of Mitsui O.S.K and Maersk Line Limited to deliver,” to them through their clearing agents, the motorcycle spare

The BUA Group yesterday described as misleading and malicious certain publications that have been attributed to the federal government as well as the court, with respect to its ongoing mining dispute with the Dangote Group. In fact, the BUA Group alleged in a statement that the said publications were being cooked up in the offices of Dangote. It further stated that it was increasingly appalled by a new set of publications, actions and tactics “by Dangote Plc and its staff which have been falsely attributed to the federal government, seeking to achieve what they couldn’t get through legal means or their “connections in government.” “These relate to the ongoing mining dispute between BUA and Dangote. We therefore wish to draw the attention of the public, investing public, the media and other stakeholders to these new set of malicious and misleading information which is in fact being cooked up in the offices of Dangote Plc. “These publications have, at various times, been falsely attributed to pronouncements made by the federal government represented by the Ministry of Mines. “BUA is now in possession of emails amongst other documents detailing a calculated attempt by

Dangote Group to discredit and undermine BUA’s operations whilst painting a false picture to their stakeholders and the general public.” According to BUA, while “the Dangote Group in their diatribe,” published recently made various assertions to being the victim of an alleged media campaign against them, “these evidence, (some of which we deem too offensive to share in public domain) prove otherwise that they have in fact been the primary aggressor.” The statement claimed that “BUA remains in possession of the mining areas covered by its mining leases 18912 and 18913 in Obu, Okpella, Edo State and despite Dangote’s concerted campaign at misinforming the public, BUA continues to exercise its rights to operate the licenses in line with the court’s pronouncements that status quo be preserved. “Despite Dangote’s insistence that there is no court pronouncement that status quo be preserved, transcripts by their lawyers from the latest court deliberation at the Federal High Court sitting in Benin on December 5, 2017, show that the courts not only insisted that Status Quo be maintained but also sternly warned the Minister and the Ministry of Mines from taking any actions that will undermine its pronouncements on maintaining status quo.”

parts, moulds of spare parts and steel structures and raw materials called polyvinlchlorid, imported from China. The charge said the accused falsely pretended that they were authorised by GTBank to clear the goods and take delivery of them. EFCC had last Tuesday arrested Innoson in Enugu, stirring some controversy that the arrest bore some ethnic motive and that the agency should not have waded into a dispute between GTBank and the businessman. Central to this was the story was that the parties were engaged in a commerical dispute over illegal deductions from Innoson’s accounts by the GTBank, with Innoson claiming that the bank was indebted to him and his company to the tune of billions of naira. In an interview with journalists, he said he had gotten judgment at both lower and appellate courts and that the GTBank has an appeal

at the Supreme Court. GTBank responded tersely that it would not join issues with the businessman as the issues between them are in the court. The EFCC in releasing Innoson on bail Wednesday, explained that he was arrested after he refused to honour invitations by the commission. He had been arrested by the commission before and granted administrative bail. But he reneged on the bail and his surety could also not be found. The agency said Innoson and his brother, Charles Chukwuma (who is still at large), were being investigated by the Insurance and Capital Market Fraud Section of the commission’s office in Lagos over matters bordering on N1.47billion fraud and forgery and other infractions. He was also alleged to have used forged documents to secure tax waivers. “Unfortunately the industrialist

resisted arrest and stirred controversy by bringing six truck-loads of thugs to block the entrance to his Plot W1, Industrial Layout, Abakaliki Road, Emeni, Enugu, home. “This was after he initially misled the police command by informing them that his home had been invaded by armed robbers and kidnappers despite the fact that operatives of the commission duly identified themselves to policemen guarding his home. ”His unruly thugs encircled and manhandled operatives of the commission who had gone to effect the arrest. “Consequently, a distress call was sent to the commission’s Enugu office for reinforcement. “In all of this, the commission’s operatives acted with decorum and civility. ”No one was manhandled or assaulted by the EFCC team, and not a single shot was fired, despite the provocation,” the EFCC has said.

PRESIDENT: GOODWILL OF THE MASSES KEEPS ME IN POLITICS “The current fuel crisis is a combination of SNAFU (Situation Normal All Fouled Up) in the distribution process of petrol (which the NNPC admitted at the onset of the problem), and deliberate mischief and sabotage by some marketers, who want to force the hands of government to increase the pump price.

“Then the situation is further compounded by the hoarding of products and panic buying. And government is working round the clock to restore normalcy, which will come in a matter of time. “Should we then be perpetually like King Lear at his worst and consign ourselves to the doldrums occasioned by fuel scarcity at a

festive period? No. “Despite the temporal pains, life must continue and we must look at the cheery side, while government works hard to bring succour. “That is why I disagree with armchair critics, who wail at the drop of a hat. Millions of Nigerians appreciate President Buhari, love

him passionately and would watch the airing of the documentary, which shows the president in a perspective not very well known before. “It’s a spice for the holiday season and not even the ephemeral fuel crisis would dampen the enthusiasm of positive minded Nigerians,” he said.

T H I S D AY MONDAY/TUESDAY DECEMBER 25-26, 2017

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COMMENT

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

DO THEY KNOW IT’S CHRISTMAS?

The authorities must do more to reduce poverty in the country, writes Ayo Oyoze Baje

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s millions of Nigerian Christians celebrate the birth of Jesus Christ, the globally acclaimed spiritual saviour of mankind, there are many more who do not have the economic resources to dine and wine, with members of their families and friends. While this sad situation is understandable in some other countries ravaged by natural environmental disasters of drought, floods, hurricanes, earthquakes, typhoons and tsunamis, or the self-inflicted wasteful wanton wars, it is far from this in Nigeria. Here the victims such as the homeless, the elderly poor, the beggars, orphans and widows agonise over preventable poverty in the midst of plenty! Not left out of course are the hapless civil servants owed for months by their cruel and conscienceless state governors that collect different funds from the all-conquering federal centre but simply refuse to pay them. There lies the irony and the pain! As previously highlighted in my essay titled ‘UN’s battle against poverty,’ the statistics of our country’s scenario are simply scary and scandalous. One is talking about the inexcusable social inequality and injustice which exists between the very rich and those caught in the pitiable pit of preventable poverty. In a report published by Oxfam in 2016, it stated that the combined wealth of Nigeria’s five richest menfrom Dangote through Adenuga, Otedola to Ovia- then put at about $29.9 billion could effectively end extreme poverty in the country. In fact, Celestine Okwudili Odo, Good Governance Programme Coordinator for Oxfam in Nigeria, said: â€œâ€Ś. Extreme inequality is exacerbating poverty, undermining the economy, and fermenting social unrest. Nigerian leaders must be more determined in tackling this terrible problem.â€? Nigeria was ranked 152nd out of 188 countries in the 2016 Report of the African Human Development Index (HDI) released by the United Nations Development Programme (UNDP) in Nairobi, Kenya. Consequently, the country retained its 2014 status, as there was no forward or backward shift from the computation. Nigeria’s HDI value for 2014, according to UNDP’s 2015 report, was 0.514 which puts the country in the low human development category. Even Botswana ranked better than Nigeria according to the report published on August 29, 2016. Furthermore, it stated in unequivocal terms that Nigeria’s Human Development Index rose by 13.1 %. Such is the high level of poverty in the country that the UNDP precisely on April 19, 2017 warned that Nigeria must stop being a “seriously hungry nationâ€?. Sadly, Nigeria was the only oil-producing country languishing in that shameful socio-economic stratum. Also, according to the 2015 HD Report Work for Human Development for 188 countries assessed by the United Nations, life expectancy index was 0.44, education index was 0.59 while the GDP index and HDI value were placed at 0.36 and0.466 respectively. Under this administration inflation rate galloped from 13.7% to 15.6% between May and July, 2016. Compared to that of South Africa

EXTREME INEQUALITY IS EXACERBATING POVERTY, UNDERMINING THE ECONOMY, AND FERMENTING SOCIAL UNREST. NIGERIAN LEADERS MUST BE MORE DETERMINED IN TACKLING THIS TERRIBLE PROBLEM

of 6.3 %, Republic of Niger of 2.3 %, Zimbabwe of -1% and Mali of -0.4%, there is nothing to cheer about. All these take place because the dynamics of consumables and essential needs such as food, kerosene, transportation, housing and utilities are closely tied to fuel hike and inflation. Nigerians may have endured it all in their characteristic legendary resilience but the sudden hike in fuel price from about N97 to N145 per litre has had deleterious effects on the quality of life of the average Nigerian. This has been compounded by the current stifling fuel crisis. As it happened in Venezuela so it is in Nigeria. One had expected, as I admonished Mr. President back in 2015 to assemble a team of top technocrats and seasoned economists who know their onions; irrespective of their political or religious persuasions and be ready to listen to them. But that was never done. As usual, the tightening of monetary policies has led to devaluation of the naira. Since we do not produce or export much of home-grown products, importers would spend more naira to the dollar. With insurgency in the North East, which has led to food shortages in addition to hike in the price of farm products, a recycling of economic policies will not get us out of the wood. What is the way out of the economic quagmire? Firstly, our policymakers should think out of the box. We need foreign exchange for industrialisation. We should stop transferring our economic fortunes to foreign hands. We need to revisit the policy of liberalisation and the social benefits of privatisation. And of greater significance is the need to critically address the obscenely high cost of accessing political power as well as running the machinery of government. The twin evils fuel corruption and undermine good governance that could benefit the poor. The governors and the legislators should come to terms with the harsh economic realities and tread the path of frugality to become true servant, what leaders like the late President Umaru Yar’ Ardua advocated. We need to drastically reduce the emoluments of political office holders and deploy the huge sums so recovered to improve the quality of life of the average citizen, especially children, the elderly and women who are the greatest victims. We require more partnerships between the public and private sectors, non- governmental organisations (NGOs) and civil society groups to successfully bring the monster of poverty to its knees. We also need good infrastructure, (adequate electric power and water supply as well as good roads), access to credit facility at single digit interest rate and boosting of small and medium scale enterprises. The other is to inculcate entrepreneurship training in our youth right from the secondary school level. Nigerians are therefore eagerly waiting for the proposed National Poverty Eradication Commission (NPEC) as promised by the Speaker of House of Representatives, Yakubu Dogara. It must not go the way of the past poverty alleviation programmes. And because the incubus of poverty haunts us all, it must never be politicised.

IMPROVING ASSET RECOVERY IN NIGERIA Bob MajiriOghene Etemiku argues for the strengthening of asset recovery framework

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he inaugural Global Forum for Asset Recovery which held in the District of Colombia has come and gone. As somebody who participated very actively from the passive shadows, I feel a sense of pride to know that some of the modest efforts we put in bore some fruit. Those first fruits came in form of an announcement from the federal government of Nigeria and its Swiss counterpart that both parties signed agreement for the repatriation of $321million of the loot which the late Sani Abacha stashed in Switzerland. Prior to that announcement, a surprise one came from Nigeria’s number one lawyer, Abubakar Malami, that assets worth N861million from the Malabu deal had been returned to Nigeria. The Malabu OPL245 deal was one worth $20million to which a minister of petroleum under the late General Abacha, Dan Etete awarded to himself for a mere $2million. Thirteen years after that award, another party was said to have paid the requisite fee and taken over ownership from the beneficial owner of OPL245 Dan Etete. Part of the $861million which the Minister of Justice, Abubakar Malami announced at an ANEEJ pre-GFAR Consultative Forum in Abuja in October, 2017 is a result of the legal battles which had gone on over the years on this Malabu deal. Therefore, it was only yesterday, Friday, December 15 that a UK court ruled that an amount to the tune of $85million from the Malabu deal be made forfeit to the Federal Republic of Nigeria. That ruling in favour of Nigeria is a victory for Nigerians as it will soon make the said money available to finance development initiatives in the country. It has come at a time when Nigeria is running a deficit budget and plans to borrow to finance the deficit. What has become evident and which holds true is that in the asset recovery tripod, the negotiations leading

to a repatriation of stolen wealth anywhere in the world is much more dicey and sensitive than a freezing and seizure of such stolen funds. There are other asset recovery cases like the Malabu – the Diezani, the Dasukigate and the cases of Nigerians fingered as beneficial owners of offshore companies. These cases are unique in the fact that the usual suspects are here with us. They are not ghosts, and to that extent, they have put the full measure of the proceeds of their crime to bear in the fight to repatriate the monies which they are alleged to have made away with. Just to give you an idea of how tricky it is to negotiate and repatriate stolen assets from offshore stations dispensations, let us examine one of the innovative methods used: On September 27, 2017, a Klepto Bus ride took place in the city of London. The objective of the bus riders was to identify any politically exposed person in Nigeria, and elsewhere with beneficial or unexplained ownership to any choice property. Ten Nigerian names/ identities popped up, and this was how The Punch newspaper of October 7, 2017 put it: The properties were linked to two top lawmakers, one of whom is also a chieftain of the All Progressives Congress, a former military Head of State, a late military Head of State and a retired senior military officer, who is also a serving government official. I believe that it would take more than political will to recover and repatriate assets from these kinds of people. Why? A certain friend once told me that the only reason the Abacha loot is being repatriated is that Abacha is dead. But even from the grave, the man has not rested. But the current administration must monster the courage to get to the root of all these cases, after all, they promised Nigerians that the fight against corruption was a priority. While the negotiations which led to the Swiss government signing an MoU/agreement

with Nigerian government to return $321million were on, some big questions kept bordering my mind. Will the repatriated loot be re-looted as it happened in the past or will it be carefully used to improve the lives of poor Nigerians? To what extent has the federal government demonstrated the will to apply the fund where it will have maximum impact? Has the framework for monitoring the use of the repatriated loot been properly laid down? We need to reflect on these simple but serious questions and if the right thing has not been done, there is still time to do the needed adjustments. Many Nigerians are aware and some have even benefited from the Social Investment Programmes which the federal government is implementing through the National Social Investment Office (NSIO). The home grown school feeding programme currently happening in some states, the N-Power, the National Cash Transfer programme and the Growth Enterprise and Empowerment Programme, represent the area of focus of the Social Investment Programmes for which the repatriated loot will be channeled to and the mode of payment to beneficiaries is through “direct cash transfer�. The Social Investment Programmes are quite innovative and has gone a long way to support many families especially the hitherto unemployed youths. But some schools of thought have argued that the repatriated fund should be used to take care of tangible infrastructural projects that are equally easy to track and as well impact greatly on Nigerians. The argument is that the funds need to be subjected to proper procurement process rather than direct cash transfer. Besides, it may be challenging to identify and single out the poorest of the poor who are the target of the programme. In 2006 when Switzerland returned about $500million of the Abacha loot, it was said to

have been factored into the national budget and used for the implementation of projects. But a shadow report by the Nigeria Network on Stolen Assets revealed that some 29 of the 53 surveyed projects hardly met requirements of reasonable degree of completion or sufficient operation. (Peter Lang, 2011). Involvement of CSOs saved those monies from being re-looted. That monitoring framework used at that time involving CSOs, the World Bank and the federal government has been hailed internationally as a ‘paradigm for a truly transparency process ’. That justifies why the proper application and monitoring of the $321m is of serious concern to all. Beyond all this, Nigeria is ripe for a proper legal framework on asset recovery and the Nigerian CSOs at the just concluded Global Forum for Asset Recovery made useful proposition which should be taken seriously. The CSOs urged the Nigerian government to accelerate action on the passage of pending bills – including, inter alia, the Proceeds of Crime Bill – into laws in order to strengthen asset recovery framework in Nigeria. The POCA Bill would actualise the key commitment made during the London Anti-Corruption Summit in 2016. The CSOs also urged the Nigerian government to strengthen, through legislative action, the powers and autonomy of the Nigerian Financial Intelligence Unit (NFIU) so that the unit can operate in consonance with the standards of FATF and the EGMONT group. Channelling all recovered assets to compensate victims of corruption so as to meet the Sustainable Development Goals (SDGs) also came out as a strong recommendation. The CSOs concluded that the monitoring of the use of recovered assets through a transparent and accountable framework by CSOs and other interest groups was critical. Etemiku is ANEEJ communications manager.

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EDITORIAL AGAIN, IT’S JINGLE BELL, JINGLE BELL‌ There is need to build an ethic of human solidarity aimed at promoting the common good

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ore than 2000 years ago, when peaceful silence lay over the face of the earth, and the night had run half of her swift course, Jesus Christ was born in a place where animals were kept in Bethlehem, a comparatively insigniďŹ cant and humble city. That birth, which is being marked today in Christendom, as well as the Mission of Salvation connected with it, was at once a promise of redemption from spiritual death, a declaration of an end to the reign of darkness and a call to mankind to embrace the Light of God. That is why we rejoice with all Christians as they mark this holy season. However, on a day such as this, we can easily get caught in the merriment that could make us miss the essence of the occasion and that will be tragic. Christ, after whom Christians ought to model themselves and the reason for the season, was selfless throughout his earthly sojourn. As the incarnate Love of God, he TO LIVE THE TRUE personiďŹ ed humility, ESSENCE OF THE SEASON, service to others and IT IS IMPORTANT FOR ALL other virtues that NIGERIANS TO ESCHEW are in short supply HATRED, RANCOUR, in the world we live GREED AND AVARICE in today. Christmas is therefore a period for many Christians to ask themselves whether they can be truly numbered among followers of Christ, based on the true desires of their hearts and the motives behind most of their actions. Whereas it is true that Christ came because of men, and also died for the redemption of their sins, the Christian condition for salvation rests on the understanding that the Mission and the cruciďŹ xion would have been totally unnecessary if men had not sinned and gone astray in the ďŹ rst place. Christmas therefore gives the believer a unique opportunity to re-examine themselves. Christmas is signiďŹ cant because it speaks to

Letters to the Editor

God’s redemption, mercy and grace offered to mankind by the Lord Jesus Christ. As St. Augustine explains, “Everyone can make the sign of the cross of Christ; everyone can answer, Amen; everyone can sing Alleluia; everyone can have himself baptised, can enter churches, can build the walls of basilicas. But charity is the only thing by which the children of God can be differentiated from the children of the devilâ€? and that happens to be what Christmas is all about: The unconditional love that ultimately led to the sacriďŹ ce of the cross.

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TRUMP’S RECKLESS JERUSALEM GAMBIT

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n yet another show of disregard for international laws and the international community, the investigationclouded Trump administration on December 6, formally declared Jerusalem as the capital of the settler-state of Israel and also announced plans for moving the United States embassy from Tel Aviv to Jerusalem. By declaring Jerusalem as being the capital of Israel, a state established on occupation; the 45th president reversed decades of US policy to a city with historical, religious and political significance – that has always been a prominent symbol for its inhabitants, the Palestinians and their cause; not to talk of the Arab and Muslim world at large. A century after the Balfour declaration – some sort of gifting of Palestine to Zionists to be a Jewish homeland by English statesman Arthur Balfour; 70 years after the Nakba; 50 years after the Israeli occupation of Jerusalem, the West Bank and Gaza; 30 years since the beginning of the first Intifada (uprising); and 10 years of an inhumane siege on Gaza – president Trump with his “reckless� action has added salt to a non-healing injury, as Aaron David Miller, vice-president at the Woodrow Wilson Center and a former Middle East adviser to the Clinton and Bush administrations described it “Jerusalem has a tendency to explode when you fool around with the status quo�. Though Trump’s declaration will thrill key financial donors of his election campaign like the Las Vegas casino magnate Sheldon Adelson, and boost his popularity among his core,

o live the true essence of the season, it is important for all Nigerians to eschew hatred, rancour, greed and avarice. We must build an ethic of human solidarity aimed at promoting the common good and the welfare of fellow men and women, especially in this most difďŹ cult period. Aside the frustration and poverty that pervade the landscape, many Nigerians will be celebrating Christmas on the fuel queues that have resurfaced in recent weeks. That is why, beyond the decoration of streets and houses with special festoons and rosettes, exchange of sanctimonious Christmas gifts and singing of carols, this Christmas should serve as a moment for deep reection by asking the hard question: How can we (both as individuals and collectives) make a difference within our different communities and the nation at large? Meanwhile, Christmas underlines the importance of the family, affording wives, husbands and children the opportunity to reunite, deepen their faith and share the warmth that comes from true spiritual empathy. But above all, we must remember that with Christmas comes the good tiding of peace. To that extent, people in authorities should strive to bring light to the dark land, hope to the hopeless, justice to the oppressed, and integrity to the wasteland. As we therefore reect on the true signiďŹ cance of Christmas, all Nigerians must resolve to become better citizens. We wish our readers Merry Christmas!

right-wing evangelical base. However, it is an act that will legitimise occupation and apartheid – and also will impose facts on the ground by someone that disrespects not only history, but the international community as a whole. Also, insensitive hypocritical Arab regimes, whose continued support for the supposed-to-be honest broker trying to help achieve the “deal of the century� would find themselves stuck between someone that calls them ‘moderate allies’ and an angry population that sees enemy-number-one in the person their governments flirts around with. The curtains are now down, so also is the peace process charade. As the calls for another Intifada keeps growing by the day, the resilient Palestinian will continue to resist by all legitimate means, and won’t be deceived anymore by exploitative Arab regimes that use his cause for their own benefit. Palestinians are done with the casual meetings and empty statements issued by Arab leaders each time they sign deals at the expense of Palestine. From all indications, Trump just flew a kamikaze mission with his Jerusalem gambit. Isolated in the UN, the United States unilateralist policy also risks losing not only Arab allies, but also European friends – and will be seen as part and parcel of a racist, apartheid occupation that uses systematic and institutionalised violence to tear-gas schools, arrest children, demolish homes, night-raid neighbourhoods, and kill and maim the elderly, women and children in broad-daylight. Labaran Yusuf, Jos, Plateau State

ASUU’S N23 BILLION AND ECONOMY

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he tranche of academic earned allowances due to members of the Academic Staff Union of Universities (ASUU), some N23 billion, just dispersed to those who earned this money has all but gone back into the national economy. I should know this because I had all but disbursed my share to those who need this capital badly. I am particularly interested at how little I would have impacted the local economy of Otukpo in Benue State when I sent a total sum ofN59,000 to my two young nieces who lost their mother (my sister) four years ago. No sooner had they received the credit alert notice than they went shopping for Christmas, buying stuff and all. Surely, the bulk of that money was spent within the week but that little spending bump had a miniscule positive effect on the local economy of Otukpo. When I was at the Minna branch of the UBA to do that money transfer, I was not at all surprised to run into other lecturers at the bank also doing money transfers to destinations across the country: Dr. Shehu of Mathematics, Dr. Sanda of Mathematics, Dr. Eze of Soil Sciences, Dr. Paul of Architecture, etc. Basically, when the federal government honours its commitment and pays the subsequent tranches of academic earned allowances, Nigeria’s economy would grow ever so slightly and Nigerian lecturers would have fought poverty and kept this menace at bay to some extent. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

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T H I S D AY ˾ MONDAY, DECEMBER 25, 2017

Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY

POLITICS

M O N D AY D I S C O U R S E

2017: The Year Nigerians Will Not Miss Apart from being the year when the nation’s president endured a gruelling 154 days in a British hospital and one during which the calls for Nigeria to be restructured reached a deafening crescendo, 2017 will be remembered as the year Nigerians were subjected to harrowing economic conditions. Tobi Soniyi, Segun James and Shola Oyeyipo revisit critical events that shaped the country in the outgoing year

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the best efforts of the cabal to frustrate him, many rated his performance as vice president very highly. Considering the way and manner he exercised powers, Osinbajo got accolades from Nigerians. For his ability to stabilise the polity in Buhari’s absence, he held both the Federal Executive Council and the National Economic Council meetings regularly. Many are of the view that his diplomatic approach to the Niger Delta challenges, particularly his declaration that the federal government would work with operators of illegal refineries and help convert them to modular refineries, is largely responsible for the relative peace in the oil producing states.

n 2017, everything that could go wrong went wrong.

Unemployment on the Rise When many were hoping that they have had the last bad news of 2017, the National Bureau of Statistics released a chilling report on the state of joblessness in the country. In a report released last Friday, NBS said unemployment rate worsened from 16.2 percent in the second quarter of 2017 to 18.8 percent in the third quarter of the year. NBS said the number of people within the labour force who were unemployed increased from 13.6 million in the second quarter of the year to 15.9 million in the third quarter of same year, with more than two million people unemployed within the period. Similarly, the number of underemployed increased from 17.7 million in the second quarter to 18.0 million in third quarter of 2017. The report should not surprise anyone. As a matter of fact, many believe that the unemployment rate is higher than what the NBS released. There is hardly any family without one or two graduates who are unemployed. When view against the promise by the All Progressives Congress-led government to create millions of jobs, the year will also go down in history as the year of job loses. Recession to Blame The NBS’s report indicated that the employment situation was made worse by the economic recession that saw the nation’s growth decelerate until September 2017 when Nigeria finally managed to pull out of recession. “An economic recession is consistent with an increase in unemployment as jobs are lost and new jobs creation is stalled,” the report said. Loss of employment alone was not the hardship the country suffered as a result of the recession. Inflation hit the roofs as Nigerians faced difficulty buying essential household products and foodstuffs. Many reportedly withdrew their children from schools charging high fees just as many tenants were unable to pay their rents. Although, Nigeria exited recession in September and inflation has been tickling down, 2017 inflicted untold economic hardships on many families. It is a year, Nigerians don’t want to repeat. An Absentee President As early as Thursday January 19th of 2017, President Muhammadu Buhari left Nigeria for the United Kingdom on medical vacation after sending a letter to the National Assembly informing the lawmakers of his intention to proceed on vacation for just ten working days with effect from Monday, January 23, 2017. A statement issued by the president’s Special Adviser on Media and Publicity, Mr Femi Adesina said the short leave was part of the president’s annual vacation. He said the president would resume work on February 6, 2017. Adesina said: “During the vacation, the president will also undergo routine medical check-ups. “In line with Section 145 (1) of the 1999

The Restructuring Debates 2017 will go down in history as the year that Nigeria’s fragile unity became threatened in recent history. After becoming the president, Buhari recoiled into an his ethnic shell. Despite denials by his government, the signs were everywhere that some people because of their ethnic backgrounds were being given privileges denied to others. Not able to bear this any more, the southern part of the country kicked. While the president was away and as the cabal sought to undermine Osinbajo as acting president, agitation for the country to be restructured grew louder especially from the southern part of the country. The south-east alleged maginalization in distribution of appointments. The now proscribed Indigenous Peoples of Biafra led by Nnamdi Kanu latched on to this and rallied many angry youths to its side. Leaders in the south tried to provide a united front for the agitation and to harmonise all divergent views and make the agitation less conntradictory.

Buhari, spent 154 days in London

Some rescued Chboks girls

Constitution (as amended), the president of the Senate, and Speaker, House of Representatives have been duly communicated. “While away, the Vice-President, Prof Yemi Osinbajo, will perform the functions of the Office of the President.” Little did Nigerians know then that that would be the beginning of the longest medical vacation by a Nigerian president in power. The president did not return to Nigeria until on March 10 after spending

After some initial faulty steps which resulted in inconclusive elections, the Independent National Electoral Commission in 2017 managed to put its house in order

51 days in the British capital. Despite denials by aides and ministers, the president upon his return, said he “couldn’t recall being so sick since he was a young man, including in the military with its ups and downs.” He also said he could not recall ever having blood transfusion before. On May 7, 2017, the president again flew back to London to continue with his treatment after handing over power to Vice President Yemi Osinbajo. He returned to Nigeria on August 19th after spending 103 days at the UK’s hospital. In all, the president spent a total of 154 days abroad on medical vacation. Osinbajo as Acting President It is an opportunity of a life time to act as president for not less than three months. Vice-President Yemi Osinbajo did get his chance to prove himself in 2017. Despite

Arewa Youths Threatened Igbos The threat by Arewa Youth Consultative Forum (ACYF), a coalition of socio-political groups in northern Nigeria, which issued a three-month ultimatum for all Igbos in the 19 northern states to vacate the region by October 1, shook Nigeria to its foundation. The group added that if the Igbos failed to leave by the October 1, 2017, they would use force to evict the Igbos. It took worldwide condemnation and interventions by well-meaning Nigerians before the ultimatum was vacated. The Arewa youths’ ultimatum appeared to be a counter to IPOB’s call for the south-east to secede from Nigeria. Boko Haram Staged a Resurgence Despite claims by the president that Boko Haram had been decimated and technically defeated, the insurgents proved the president wrong as they launched fresh attacks. The war has dragged on beyond expectations with each announcement of victory often punctured by repeated terrorists’ attacks and resurgence. The terror group appeared to have made a deadly comeback that tends to mock the seemingly premature declarations. The latest of these setbacks, was the deadly incident of July 25, 2017, when some CONT’D ON NEXT PAGE

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T H I S D AY ˾ MONDAY, DECEMBER 25, 2017

POLITICS

MONDAY DISCOURSE

2017: THE YEAR NIGERIANS WILL NOT MISS

Maitama Sule passed on

Boko Haram terrorists ambushed, attacked, kidnapped and killed some Nigerian troops including members of the local vigilantes known as Civilian JTF (CJTF), staff of Nigerian National Petroleum Corporation (NNPC) as well as that of University of Maiduguri (UNIMAID) who were on oil exploration mission to Yesu District of Magumeri Local Government Area (LGA) of Borno state. The UNIMAD staff remain in captivity at press time. While the nation is yet to recover from the unfortunate reversal of fortunes, Nigerian Air Force (NAF) confirmed that the terrorists had reentered their infamous enclaves in the Sambisa forest. This was also followed with daring attacks in Magdali village of Adamawa state, leading to the death of seven people. Prior to these attacks, there have been sustained cases of suicide bombings in and around UNIMAID, hitherto a ‘no-go-area’ for the terrorists and other parts of Borno State. Bewildered, Nigerians are beginning to ask what has become of all the declared victories; capture of Sambisa Camp Zairo and the famous “technical defeat” of the terrorists. 82 Chibok Girls Released The successful negotiation by the federal government that secured the release of 82 of the abducted Chibok Secondary School girls gave well-meaning Nigerians joy and relief. It has rekindled the hope for the return of more of the remaining 113 victims. PDP, Back from the Brinks 2017 marked a turning point for the Peoples Democratic Party. It is the year that saw the rebirth of the party from the troll of death. In July, the Supreme Court in Abuja formally ended the two years old crisis that had engulfed the party when it declared the Senator Ahmed Makarfi-led caretaker committee as the authentic leadership of the PDP therefore putting an end to the crisis rocking the main opposition party in the country. Justice Bode Rhodes-Vivour who read the judgment on set aside the ruling of the Court of Appeal in Port Harcourt that affirmed Senator Ali Modu Sheriff as the Chairman of the party. On December 9th, the party was able to hold its national convention where Uche Secondus emerged as the national chairman of the party. Although, there are pockets of grievances, the party at least now has a chance to put its house in order. Atiku Abubakar Dumped APC After been left in the cold for the past two years by the party he helped to win power, the All Progressives Congress, former Vice-President Atiku Abubakar finally admitted he had had enough. He announced his resignation from the party. Days latter, he announced his return to the

Nnamdi Kanu, disappeared from the radar

PDP, the party he co-founded with others. The implication of the former vice president’s move is still unfolding. The Year of Leaked Memos Two memo to the president, one by the Minister of State for Petroleum Resources, Dr Ibe Kachikwu and the other by the Head of Service, Mrs Winifred Oyo-Ita were leaked to the media. They both contained damning revelations some of which will continue to reverberate in the new year. Executive-Legislature Face-off It was also a year when the executive and the legislature engaged in endless frictions. Among others, the refusal of the executive to release funds for the execution of constituency projects despite appropriation and disagreements over appointments are frequent causes of disagreement between the two arms of government. For instance, the lawmakers felt that their authority was undermined when the Presidency retained Ibrahim Magu as Acting Chairman of the Economic and Financial Crimes Commission after he was twice rejected by the Senate. The upper legislative chambers had to stand down the confirmation of nominees for positions of Resident Electoral Commissioners (REC) over this. At a point the Senator representing Imo East Senatorial District and Chairman, Senate Committee on Ethics and Privileges, Samuel Anyanwu threatened that the Senate would impeach the president for disobeying the lawmakers. This frosty relationship is likely to continue next year. A Scandalous Year From the grass cutting scandal involving the Presidential Initiative for the North East which eventually cost the former Secretary to the Federal Government, Babachir Lawal his job to the discovery of huge sums of money both in local and foreign currencies in a residential building on the 7th floor of a four-bedroom apartment at Osborne Towers located at Osborne Road, Ikoyi Lagos, 2017 is the year the president’s men also shown that they were not immune from corruption. The conspiracy with which a former chairman of the Presidential Task Force

Nevertheless, there were developments the government wanted you to he happy with

on Pension Reforms, Abdulrasheed Maina was surreptitiously brought into the country would qualify for the scandal of the year award. The fact that the president is unable to take administrative steps to deal with members of his cabinet who are involved in this sandal is an indication that no one will eventually be punished for giving protection who should be facing prosecution. Anambra Election After some initial faulty steps which resulted in inconclusive elections, the Independent National Electoral Commission in 2017 managed to put its house in order. On November 18, 2017, the commission conducted the Anambra governorship election which many adjudged was well conducted. The incumbent Governor Willie Obiano, who sought a second term in office on the platform of the All Progressives Grand Alliance, defeated all co contenders in the 21 local government areas to retain his position. The flawless conduct of the election was therefore attributed to President Buhari’s quest to build enduring institutions. APGA National Publicity Secretary, Ifeatu Obi-Okoye, said, INEC could not have recorded such improved performance but for the free hand Buhari gave it to operate. Major Deaths Within the period under review, Nigeria lost some of its prominent citizens to death. Former Nigeria Permanent Representative to the United Nation, UN, Alhaji Maitama Sule who died on July 2. He was also a former Minister of Petroleum. A remarkable Nigerian politician, renowned orator diplomat elder-statesman, the Dan Masanin Kano, was the Chief Whip of the Federal House of Representatives between 1955-1956. He led the Nigerian delegation to the Conference of Independent African States in 1960. In 1976, he became the Federal Commissioner of Public Complaints, a position that made him the nation’s pioneer ombudsman. In early 1979, he was a leading presidential aspirant of the National Party of Nigeria but lost to Shehu Shagari. He was appointed Nigeria’s representative to the United Nations after the coming of civilian rule in September 1979. While there he was chairman of the United Nations Special Committee against Apartheid. Later same month, precisely on July 21, former Attorney-General of the Federation and Minister of Justice, Dr Olu Onagoruwa, Onagoruwa, a human rights activist, was confirmed dead. The fierce human rights lawyer, who served as Attorney-General during Sani Abacha regime between 1993 and 1994, had suffered from stroke since the brutal

killing of his son, Toyin Onagoruwa, in December 1996 by yet unknown gunmen. Second Republic Vice-President, Dr Alex Ifeanyichukwu Ekwueme, also passed on in a London clinic, in November. A successful architect who went into politics leaving behind a thriving business only to leave politics a poor man. Ekwueme, left us with a valid proof that it is possible to serve one’s country without stealing, a great legacy in a country where integrity remains a rare quality among politicians. Some Good News In 2017 good news was in short supply. Nevertheless, there were developments the government wanted you to he happy with, a few of them already mentioned. One, Nigeria crawled its way out of recession. Secondly, for 9th consecutive month, headline inflation continued to fall. Thirdly, the nation foreign exchange reserves increased from $24 billion a year ago to $34 billion. Number four, oil production in 2017 peaked at nearly 2 million barrels per day, a significant improvement from 2016 when it was mostly below a million ad fifth, the value of the Naira in the parallel market has appreciated significantly in recent times against the US dollar, and sixth, at about 1.8 billion dollars, the capital inflows in the second quarter of 2017 were almost double the $908 million in the first quarter. On November 4th, an elated Minister for Information and Culture, Alhaji Lai Mohammed said: “I am happy to inform you today that we are winning! “Our well-thought-out policy, encapsulated in the administration’s Economic Recovery and Growth Plan (ERGP), launched on April 5th 2017, is working and the results are beginning to show. “In September, we exited recession and returned to the path of growth, after five consecutive quarters of contraction. As we said then, taking Nigeria out of recession did not happen by accident. It was the culmination of months of hard work by the administration and fidelity to its wellarticulated economic policies. “To show that taking Nigeria out of recession was not a fluke, less than two months later, precisely 31st Oct. 2017, Nigerians got another good news: The country has moved up 24 places, to 145th, in the World Bank’s ‘Doing Business’ report. Not only that, for the first time the country is recognized as one of the top 10 most improved economies in the world. This is phenomenal. More importantly, it is the direct result of a well-articulated policy by this administration.” The bad news however, is that, the citizens are yet to begin to feel the impact of all these positive developments. Perhaps, that will change in 2018.

T H I S D AY MONDAY/TUESDAY DECEMBER 25-26, 2017

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FEATURES

Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com

Zenith's Xmas Delight Zenith Bank’s Christmas decorations and lights at the Sanusi Fafunwa roundabout, stretching through Ajeso Adeogun Street, Victoria Island, Lagos, continues to draw gasps from Lagosians, writes Peter Uzoho

The Christmas lightings at the Sanusi Fafunwa roundabout

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oday is Christmas! It is a unique season spiced up with diverse exciting happenings – love sharing, giving, merriment, outings, exhibition of latest fashion and scintillating decorations. There are pre-Christmas meetings among churches for carol songs, concerts and silent nights. But for Lagos residents, Christmas is announced, formally or informally, and their senses of beauty stimulated when the popular Sanusi Fafunwa roundabout, stretching through Ajeso Adeogun Street, Victoria Island, Lagos, comes live with dazzling Christmas decorations and lightings. Courtesy of Zenith Bank, one of Nigeria’s big brands in the banking and financial services industry, the yearly Christmas decoration is part of its corporate social responsibility (CSR). At night, that axis of the city is lit up with special Christmas lights and artistic creations. The roundabout which serves as a confluence for four major streets around the area - Ajose Adeogun Street, Adetokunbo Ademola Street, Sanusi Fafunwa Street and the Eko Hotel Road, is decorated with assorted motorised flowers and objects, symbolic of the essence of the season – the commemoration of the birth of Jesus Christ. The gallery (roundabout) has in it, four Angelic statuses blowing trumpets; two positioned behind each of the two Christmas bells. Each of the bells houses a collection of stars, doves and balls with varying colours ranging from red, white, blue, green and purple. There is the train (horse) kept for kids’ enjoyment which they begin to enjoy from December 24 every year. The lights are made up of about 100, 000 bulbs of Christmas trees, LED cherry blossom trees, beautifully-lighted whipping willow trees and what the bank called a forest of yellow and white LED Christmas trees glowing against the beautiful skyline of Victoria Island and Ajose Adeogun as well as the bank’s imposing headquarters edifice “We’re doing it just to make our customers, Lagosians and Nigerians happy,� the Electrical Engineer in charge of the light, Mr. Kelly Igana, told THISDAY.

Vehicles on the move along Ajeso Adeogun Street with the aid of Christmas lightings

“It’s for everybody to be happy and feel at home. Christmas has to do with light and

It’s a way of giving back to the society in which we operate and the bank’s initiative to elicit social interaction amongst the people of Lagos State

happiness, so we believe we should do this at this important period. “You can see the Angels blowing trumpets. Over there is the Christmas bell housing the stars, doves and balls with different colours. We have the train (horses) here being controlled by a remote when the light comes on. It’s for the kids and can move around with the aid of a remote control. From December 24, the kids can enter and mount the train. “Here you can see our advert screen which is only meant for Zenith Bank and it also adds to the beauty of the place. You can also see the butterfly which is another design that is

relished by people,â€? Igana said. According to him, the decorations are of different usefulness to its beholders. “There are those who come here to take pictures to update their profiles. Couples do come around just to see the beautiful creations and be happy. Kids are brought here by their parents to catch fun. Guys also visit this place with their fiancĂŠs to take picture with the lovely background,â€? Igana explained. Also in this category, according to Igana, are those who come to purge negative emotions. “They come here to pour away their sorrows and pains because when they come here and

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FEATURES

look at these lights and the designs, especially the Angels, they will be happy. You know Christmas is a time to be happy, so those who understand it will want to embrace anything that will make them to be happy. Guys come here with their fiancĂŠs to take pictures with the beautiful background.â€? The Chairman of Zenith Bank, Mr. Jim Ovia, said the Christmas decoration was part of the bank’s corporate social responsibility projects. “So it’s a way of giving back to the society in which we operate and the bank’s initiative to elicit social interaction amongst the people of Lagos State,â€? Ovia said. “Our Head Office is located on Ajose Adeogun. The road was reconstructed by the bank under a public-private partnership of the Lagos State Government and even more the stretch of road is a functional nexus for people who access the Lagos Island,â€? he explained. “Now in its sixth year, the Christmas decoration has continued to get better every year and this year will go down in history as the biggest, covering the entire stretch of Ajose Adeogun – from the Eko Hotels to Ligali Ayorinde and the lay-by around the Eko Hotels roundabout. “A lot of people trooped to the place to witness the inauguration. They were particularly thrilled by the beautiful, outdoor motorised Christmas displays and decorations. The horses cruising on powered rail tracks provide jolly rides to spectators and admirers of the ecstatic decorations and lightings. Apart from helping to create the mood for the season, the annual Christmas package is a rattling sight at night, when the decoration lights are on, road users and pedestrians cannot help but admire the sheer brilliance.â€? Meanwhile, onlookers who spoke to THISDAY about the decorations saw it as worth beholding and each commended the bank for doing a good job on the axis. One of them was Miss Amanda Elliot, who was standing on the lay-by facing the roundabout, waiting for a taxi to pick her up. She was practically looking at the good things her eyes could see in the gallery. “It’s so lovely,â€? Elliot would intone. “I like what the bank is doing here. It really reminds everyone of the special season we are into. The decoration is good. I think they hire experienced guys to do this every Christmas period,â€? she said. Although, Elliot is not a photo freak or a selfie kind, she appreciates the importance of the beautification. For Mrs. Abimbola Adeyemi, who said she had lived in Lagos all her life and enjoys taking pictures in beautiful backgrounds like the Zenith bank’s Christmas decoration, the lights were great. “I love the lights, they’re so great,â€? she said. “I’ve taken several pictures of this place, I don’t miss it all. It makes us feel like those in America and London. At times, when I snap here and I post it to someone who is not in Lagos they think I’ve travelled abroad,â€? Adeyemi said smiling. She commended the bank for being consistent with the project. For Mr. Felix Opara, who was taking pictures of the place when this reporter stumbled on him, he said he wanted to use it as his wallpaper and also post to his fiancĂŠ. “I can’t wait to take advantage of what this fine background has got to offer me,â€? he said. “I’ve been looking for this kind of background to use as my wallpaper. I’m happy I have it here. I know my girl will like it too, so I’m going to send it to her as well,â€? Opara noted. However, giving biblical interpretation to the objects used in the decoration, the Presiding

Apart from helping to create the mood for the season, the annual Christmas package is a rattling sight at night, when the decoration lights are on, road users and pedestrians cannot help but admire the sheer brilliance

Christmas lightings along Ajeso Adeogun Street, Victoria Island, Lagos

Some of the owers powered by electricity for illumination

One of the blue bulbs shining at night

Pastor of The Redeemed Evangelical Mission (TREM), Grace House, Idimu, Rev. Akah Egere, explained that all the features including the Angels, the stars and the horse were symbolic of Jesus Christ, saying Christmas revolves around Him. “We celebrate Christmas in remembrance of the birth of our Lord Jesus Christ and those things you see there are symbolic of Him. Each

has one message or the other. You talk about the Angel who came and brought the good news to Virgin Mary,� Egere explained. “Again, the stars directed the three wise men to Bethlehem where Christ was born. Of course, when you see Christ, you see a Grand Star. The horse reminds us of the white men on donkey and also, His entry into Jerusalem as a king riding on a donkey – kings ride on donkeys

as a mark of honour. “So all these point to the fact that Christmas celebration revolves around Him and I commend the bank for recreating this,� he said. Also, Egere enjoined people to be sober as they celebrate the Christmas, stressing that, the essence of the season would be lost if people indulge in worldly forms of enjoyment rather than being cautious in their spiritual lives.

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IMAGES

L-R; Head: Talent Management, Tonye Boham,; Manager: Corporate Security, Adeniyi Ige; Manager: Talent Development, Temitope Aba; Manager: Talent Sourcing, Bam Eko Inika; Human Resources Director, Gbemiga Owolabi; HR Business Partner, Yetunde Adeyemi; Head: Operations, Rewards & Performance Management, Ibiyomi Ogunbiyi and HR Business Partner, Babatunde Oginni, all of Airtel Nigeria at the CIPM Awards ceremony in Lagos...recently

L-R: Olubadan of Ibadanland, Oba Saliu Adetunji; and Oyo State Governor, Senator Abiola Ajimobi, during a condolence visit to the monarch on the death of his senior wife, at his Popoyemoja palace, Ibadan...recently . Photo: Governor’s OďŹƒce

2017 Graduation Ceremony of FOTD Vocational Training Centre;: Front row sitting middle, left to right: Mrs. Christy Orduh,Executive Director/Founder Friends of the Disabled Vocational Training Centre,(FOTD),Mrs. Sussy Ationu,Member Board of Trustees with the 2017 Graduating Students of FOTD Centre, in Lagos... recently

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Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

L-R; Secretary, Nigerian Union Journalists (NUJ), Ogun State Council, Soji Amosu; Chairman, Wole Shokunbi; Ogun State Commissioner for Commerce and Industry, Bimbo Ashiru; Kunle Olayeni of New Telegraph and Wale Olanrewaju of State Ministry of Information and Strategy during the presentation of an award to Bimbo by the council in recognition of his eort towards shoring up revenue and attracting huge investments to the State in abeokuta...recently

L-R: Assistance Manager, National Lottery Regulatory Commission, Shobowale Bamidele; Public Relations Manager, GOtv, Jennifer Ukoh; Marketing Manager, GOtv, Chidozie Bede-Nwokoye and Head, VeriďŹ cations, Alexander Forbes Consulting, Ibilola Akinla, during the draw of GOtv CHOP LIFE PROMO in lagos...recently

President of the Nigerian Institute of Quantity Surveyors, QS Obafemi Onashile(left) decorating the new Chairman of the Ogun State Chapter,QS Kayode Olusogo Dipeolu shortly after the latter took oath of oďŹƒce in Abeokuta...recently

L-R: Senior Special Assistant on Human TraďŹƒcking, Comrade Solomon Okoduwa; Rosemary Ubogu, a returnee L-R: Olori Kafayat Oyetunji, His Royal Majesty Ataoja of Osogbo, Oba Jimoh Oyetunji, and Managing Director, from lLibya receiving a N20,000 cheque from the Attorney General /Commissioner for Justice, Edo State and Grand Oak Limited, Aare Fatai Odesile, after the presentation of Seaman’s Schnapps Share the Blessing montage Chairman, Taskforce Against Human TraďŹƒcking, Prof. Yinka Omorogbe; during the payment of the monthly to the monarch in Osogbo Osun State...recently stipend promised by Governor Godwin Obaseki, at Idia College, Benin City,..recently

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T H I S D AY ˞ ˜ DECEMBER 25, 2017

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 5.6% 6.33%

CALL 1-MONTH 3-MONTH

6.33% 8.67% 9.58%

D E C E M B E R S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

329.14% 0.38% .65%

Group Business Editor Chika Amanze-Nwachuku

Email chika.amanzenwachukwu@thisdaylive.com 08033294157

2 2 , S & P INDEX 1/4 TO DATE YEAR TO DATE

2 0 1 7

11.40% 25.5%

EXCHANGE RATE N306.15/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Malas Foods Marks 25th Anniversary

MalasFoods,aforemostcateringservicecompanyinNigeria,recently celebrated her 25 years of operation in rendering premium catering servicestoheresteemedcustomers.TheeventwhichtookplaceinLagos, witnessedtheattendanceofthemediaandmanygovernment,business and corporate personalities. According to the CEO of Malas Foods, Mrs. Morenike Okupe, the company decided to organise a ‘Thanksgiving Service’ to appreciate God for his faithfulness in keeping the company in operation for 25 years, even with all the turbulence in the business environment. She said: “We are not just celebrating the number of years of being in business, but also for delivering world class catering services to our customers. And as you can see most of our customers are here to testify to the quality of our delivery. So, we are showing gratitude to God and also celebrating the privilege of satisfying our customers.â€? Reecting to when she started the business she said, “I cannot stop thanking God because at the beginning I never knew things will turn out to be this great. It was so challenging and diďŹƒcult. There were initial set-backs. But with determination, hard work, and trust in God one was able to overcome those teething problems. Again, I had a passion for catering services. I also had great conďŹ dence in myself. Today, when I look back, I cannot count on my passion or my eorts, I can only credit the success to God’s faithfulness. I am truly happy that Malas Foods has come this far.â€?

MTN Nigeria, KwesĂŠ TV Sign Deal

DAVIDO VISITS FIRSTBANK

L-R: Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Folake Ani-Mumuney; Nigerian music superstar, David ‘Davido’ Adeleke; Managing Director/Chief Executive OďŹƒcer, First Bank of Nigeria Limited and Subsidiaries, Adesola Adeduntan; Company Secretary, First Bank of Nigeria Limited, Irene Otike-Odibi, during a courtesy visit by Davido to the Corporate Headquarters of FirstBank, as part of activities to create awareness for Davido’s forthcoming #30BillionConcert ‌ recently

THISDAY Model Portfolios Value Falls Further on Continuing Profit Taking Goddy Egene The aggregate value of the THISDAY Model Portfolio (TMP) witnessed a further decline last week as profit taking in the stocks that constitute the portfolio continued. Consequently, the TMP fell to 27.4 per cent from 28.2 per cent the previous week. Only one of the five various portfolios that constituted the TMP appreciated last week. Ironically, the only advancer was Portfolio E that had slipped into the negative territory the previous week. TMP is an initiative of THIS-

CAPITAL MARKET DAY Economic and Financial Intelligence Unit (TEFIU), designed to enable leading stockbrokers and investment houses in the country share their trading skills and methodologies with ordinary investors. The investment houses involved in the project are Afrinvest Limited, FSDH Securities Limited, Capital Assets Limited, Meristem Limited and Lead Advisory Limited . TMP consists of five different portfolio types constructed individually in conjunction with five leading stockbroking firms

in the country with different investment objectives. Each of the partner stock broking houses constructed a portfolio of 10 stocks selected according to their individual best judgement and using their best and well tested stock selection and investment strategies. Each of them then deployed an imaginary fund of N10 million to invest on the 10 stocks in whatever proportions they considered best. By the close of last week, which is the 26th week of its introduction, the TMP had recorded a growth of 27. 4 per cent, down from the 28.2

per cent the previous week. This implies that despite the decline as at the week ended December 22, 2017, the N50 million imaginary deployed, remains positive at N63.706 million, showing an aggregate return of 27.4 per cent. A further analysis of the individual portfolios showed that Portfolio C remained the highest gainer with 44 per cent, down from 45.8 per cent, the previous week. The N10 million deployed by Portfolio C has thus appreciated to N14.400 million as at last week. Continued on page 24

Oil Price Rebound: Pension, Insurance Sectors Investors Optimistic About Higher Yields Ebere Nwoji With the current rebound in the price of crude oil in the international market, renewed interest by both individual and corporate Nigerians in agricultural activities as well as federal government’s economic recovery and growth plans, investors in the pension and insurance sectors are optimistic that their stakes in firms operating in the two sectors would earn higher returns. The investors who expressed confidence in the two sectors due to these developments

INSURANCE said should the trend of these recoveries continue, the sectors will be safe haven for both local and foreign investors. General Manager, Business Development Radix Pension Managers Ltd, Kunle Adeboye, in a recent chat with THISDAY on his company’s venture into pension fund management business said his company was motivated to venture into pension business despite the current economic realities on ground in the country which

has hindered regular salary payment and remittances of pension funds to fund managers by employers because it sees greater opportunities in the sector. According to him, Nigeria’s economy went into recession in 2016 because people were only depending on oil thereby neglecting other sectors that hold more potentials for the economy and as soon as oil price crashed, the recession set in. He however said during and after the recession, Nigerians have learnt their lessons and government has gone into various

economic recovery and growth plans while business operators now focus more attention on agricultural activities and other activities that enhance other sector growth for survival. He said when these activities begin to yield results, the economy will become more vibrant more people will get employment and contribute into pension accounts while people will have more money to save in life insurance and other classes of insurance “Before now, like you said, Continued on page 24

KwesĂŠTV,Nigeria’snewestpayTVbroadcastnetwork,andthecountry’s largest telecommunications company, MTN, have collaborated on the sale of KwesĂŠ TV decoders through MTN stores across Nigeria. Thanks to this partnership, people who want to subscribe to KwesĂŠ TV can walk into any participating MTN store and purchase a KwesĂŠ kit comprising a dish, decoder and installation for N10,960. By visiting their nearest MTN store, Nigerians can also take advantage of KwesÊ’s exciting festive season promotion which oers new subscribers the one-time only chance to enjoy two months complimentary subscription if they pay N1,590 in addition to N10,960 before 31 December! This partnership, which will roll out through a phased approach, has launched in key agship stores in Lagos, namely: Y’ello City Service Centre, Ikeja Service Centre, Palm Connect and Matori Service Centre. Speaking about the partnership, General Manager for KwesĂŠ TV Elizabeth Amkpa said, “Following the recent launch of our pay TV service in Nigeria, this partnership extends our distribution network and makes our products accessible to even more Nigerian consumers. We are currently operating in selected agship stores in Lagos, and we will soon be available in other major cities across the country in 2018 in partnership with MTN.â€?

Bharti Airtel to Acquire Millicom

Bharti Airtel Limited (“Airtelâ€?), a leading global telecommunications services provider with operations in 17 countries across Asia and Africa, has said that through its subsidiaries, it has entered into a deďŹ nitive agreement with Millicom International Cellular S.A. (“Millicomâ€?). Under the agreement, Airtel Rwanda Limited (“Airtel Rwandaâ€?) will acquire100%equityinterestinTigoRwandaLimited(“TigoRwandaâ€?).The acquisition will consolidate the Rwandan telecom market and position Airtel as a strong number 2 operator in Rwanda.The consideration for the transaction is based on approximately 6x EBITDA multiple, payable over two years. The agreement is subject to regulatory and statutory approvals. Sunil Bharti Mittal, Chairman, Bharti Airtel, said, “Airtel has taken proactive steps in Africa to consolidate and realign the market structure in the last few remaining countries where its operations are lagging on account of lower market share and presence of too many operators.AirtelandTigohavealreadymergedtheiroperationstocreate a strong viable entity in Ghana. With this development, the company is believedtohavetakenyetanotherimportantsteptoacquireTigoRwanda to become a proďŹ table and a strong challenger in a two-player market. We are also committed to the long term viability of our operations in two other countries i.e. Kenya and Tanzania, to ensure that in 2018 all our 15 operations in Africa start contributing positive margins and cash ows towards a healthy and proďŹ table Airtel Africa.â€?

“We are playing our part in building a financially savvy generation, by implementing and supporting a number of programmes that contribute to raising the level of financial literacy in Nigeria�

Chief Executive OďŹƒcer of NSE

Mr. Oscar Onyema

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BUSINESSWORLD OIL PRICE REBOUND: PENSION, INSURANCE SECTORS INVESTORS OPTIMISTIC ABOUT HIGHER YIELDS

things were moving on smoothly until Nigeria went into recession in 2016 with problem of irregular payment of salaries. Even the pension assets itself experienced the shock because more people were agitating to withdraw from their pension savings rather than contributing because of loss of job. But the good thing now is that with economic recovery and growth plan of the federal government, things are beginning to look up because before now, over reliance on oil was what plunged us into recession. The oil production and the price went down and that negatively affected the exchange rate. Now Nigerians are looking more towards agriculture and other sectors of the economy that was hitherto abandoned and you saw the National SMEs clinic that the federal government piloted sometime in July and any economy that the youth , the SME are the mirror turns out to succeed�, he said. Adeboye, said his company, Radix Pension Managers, which was recently launched in Lagos was formerly IGI Pension but was bought over by Radix Capital which now holds majority stake in the company. According to him, in coming into the business this time, Radix Pension is well aware of challenges of irregular payment of salaries by many employers as well as non remittances of deducted pensions funds by employers but still ventured into the business because the owners and managers have seen a lot of opportunities in the pension sub sector especially for the future. He said the company is bringing to the sector the idea of developing the interest of the youths in pension savings. “One thing that is already out there is that we are passionate about the youths. We are passionate about the fact that the youth should save for the rainy day. For most of us, when we were young, we took savings for granted. Looking back now, we will see why our parents told us that we should put something aside for the rainy day .So we are passionate about seeing the youths understand the benefit of savings and that will be good for the economy.

THISDAY MODEL PORTFOLIOS VALUE FALLS FURTHER ON CONTINUING PROFIT TAKING In the same vein, Portfolio D, maintained the second position, standing at 40.8 per cent, compared with 44.6 per

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Chineme Okafor (Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgriBusiness)

cent two weeks. This indicates that the N10 million deployed now stands at N14.057 million. Portfolio B, which fell to 34.2

per cent the previous week, decline further to 31.1 per cent, bringing its value to N13.148 million, from N13.420 million.

In line with the sell pressure that reduced the value of other portfolios, Portfolio A fell to 20.3 per cent. However, Portfolio

E, which had that slipped into negative territory two weeks ago, recovered last week. It gained 0.72 per cent.

NLCA Rates NPA’s Performance Low in 2017 Eromosele Abiodun The Association of Nigerian Licensed Customs Agents (ANLCA) has scored the management of the Nigerian Ports Authority (NPA) low in its 2017 performance, stressing that nothing has changed in the ports system since the Managing Director of NPA, Hadiza Bala Usman paid the association a courtesy visit in January, 2017. According to a statement signed by the Senior Special Assistant on Media to the ANLCA National President, Mr. Joe Sanni, the association disclosed this during an interactive meeting held with the management of the NPA by the ANLCA leadership on the 18th of December, 2017.

According to the statement, “the interactive meeting with the NPA management centred on the subsisting infrastructural and systemic challenges being experienced by Customs Brokers and Agents, in the course of carrying out their businesses in the seaports across Nigeria. “These operational challenges were, and still are: the completely broken down Ports Access Roads; Extortion by NPA’s security officials and Maritime Police; shipping companies and terminal operators insensitivity to the plight of Agents and importers; touting and crowding in and around the ports; need for a strategic, structural solution in addressing controlled access into the ports; provision

of CCTV cameras to monitor operators/operations in the ports, etc. “The National President of ANLCA, Olayiwola Shittu reminded the NPA management that these same issues were placed before the MD/Ceo of NPA, Hadiza Bala Usman, when she visited ANLCA headquarters early this year. “Unfortunately, she is yet to fulfil her promise to holistically address the myriads of problems, persistently troubling Agents. “The NPA MD/CEO, in company of officials of ANLCA and other agencies, undertook the inspection of ports access roads, where she experienced first-hand the challenges faced by Ports operators. During the exercise,

she promised to take up the matter with relevant authorities. Much as she attempted, going by media reports, the situation has still remained the same.� The practice where shipping companies operators do not indicate on the Equipment Interchange Report (EIR), where empty containers are to be dropped, was frowned at by the agents. Responding to the aggrieved agents on behalf of the NPA MD, Executive Director, Finance and Administration of the NPA, Alhaji Mohammed Bello-Koko said that the civil service procurement and approval seeking processes, were chief among the reasons why most of the problems have not been

tackled. He however assured that the problems are being addressed accordingly. In his own response, the General Manager, Operations of the NPA, Joshua Asanga requested for more information, especially regarding double standards of some terminal operators in granting several weeks of concessionary waivers on demurrages on cargoes to foreign importers, while depriving same to Nigerian importers. He said if the discriminatory practice is still going on, relevant information will be required to address it. A committee is to be set up to fast track the solution-process for all the problems enumerated during the interactive.

NAICOM Mulls Long Span Licensing Regime for Insurance Brokers Ebere Nwoji

Group Business Editor

NEWS

The National Insurance Commission (NAICOM), may have considered replacement of annual licensing regime for insurance brokers with longer span licensing regime. Insurance brokers in Nigeria are required to submit their operating licenses to NAICOM for renewal annually failure to do that which earns such brokers the regulator’s sanction. The brokers who see this as tasking and too cumbersome have been requesting for a long span licensing but NAICOM has not granted that. But President of the Nigeria Council of Registered Insurance Brokers ( NCRIB) Mr. Shola Tinubu, at the December edition of the bi-monthly members evening of the NCRIB held in Lagos, hinted that a change in the current mode of licensing among

brokers by the regulator topped agenda of discussion between his team and authority of NAICOM during a recent Courtesy visit to the commission by the brokers in Abuja. “Relationship with the National Insurance Commission (NAICOM) will be a cooperative and progressive one, in order to create a more harmonious professional and business environment for our members. Just last week, I led a team of the Council on a courtesy visit to the Commissioner for Insurance, Alhaji Mohammed Kari in Abuja. The outcome of the meeting was quite positive and remarkably encouraging. Among other issues discussed was the yearly renewal of members’ license, with an assurance that modalities for same were being worked on by the Commission to change

this�, Tinubu stated. He highlighted other issues of interest to brokers discussed during the visit as collaboration with other arms of the industry such as Nigeria Insurers Association (NIA), Chartered Insurance Institute of Nigeria(CIIN),Institute of Loss Adjusters of Nigeria(ILAN) among others. “Permit me to state that since the insurance industry is a composite industry, the NCRIB will continue to advance positive collaboration with such bodies as the NIA, the CIIN and ILAN. While sustaining the tempo of technical relations with the NIA, we shall through the Association encourage underwriters to always see the sense in patronising only current members of the NCRIB for credibility. If at all, the underwriters would transact business with other “intermediaries�,

there must be a difference in commission rates and other benefits to justify the remarkable differentiation in their competencies and experience. The Council will also identify and pursue areas of relationship to the mutual benefits of the NCRIB and ILAN.�, he stated Tinubu, also said the issue of timely response to mails, both by NAICOM and brokers to ensure that issues were timely resolved were highlighted, adding that collaboration by the two bodies in training of brokers, particularly in regulatory compliance to mitigate fees and penalties often slammed on them was extensively discussed. “It is my desire that we continue to parley NAICOM for our members and continually put in place internally strategies to promote self-regulation by the Council. We greatly covet

the support of all members in this regards, he stated. Insurance brokers in the country have been pushing to be put on the same pedestal with insurance underwriters in the area of life insurance license issue. But NAICOM had turned down their request and insisted that the brokers must annually renew their operating licenses . But at the this year ’s edition of the National Insurance Conference held in Abuja, NAICOM, had said that the brokers’ annual license renewal process is becoming cumbersome to the commission itself thus it has resolved to expand the process to a longer period. NAICOM said the brokers’ annual operating license renewal, when abolished, would be replaced with longer life span license regime if it cannot grant the life licensing for now.

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BUSINESSWORLD

MARKET REPORT

Equities Close Higher on Bargain Hunting Goddy Egene and Nosa Alekhuogie The stock market reversed its negative performance of the previous week to record a growth of 0.22 per cent. The growth followed gains recorded on the last three trading days of the week. The market had the previous week halted a three-week rally as investors moved in to take profit. However, the bulls returned last week Wednesday to lift the to the positive territory. Consequently, the NSE All-Share Index advanced by 0.22 per cent to close at 38,522.14, while market capitalisation settled higher at N13.709 trillion. Similarly, all other indices finished higher during the week with the exception of the NSE ASeM, NSE Consumer Goods and NSE Lotus II Indices that depreciated by 1.82 per cent, 1.37 per cent, and 0.51 per cent respectively. Year-to-date the market has recorded a gain of 43.34 per cent. Commenting on the performance, analysts at Meristem Securities Limited attribute the upbeat performance to price gains noted on stocks that had previously shed value at the beginning of the week. “The selling pressures that pervaded the consumer goods space were outweighed by positive sentiments on stocks in other sectors, hence the positive close of the market. We do not rule out sell-offs in the coming week, as we expect profit-taking activities on stocks presently trading at relatively high prices,� they said. Daily Market Performance Still under the pressure of profit taking the market closed 1.24 per cent on Monday, pulling the index to close at 37,957.96. The depreciation recorded in the share prices of Dangote Cement, Cadbury, Flour Mills, Access Bank and Zenith Bank led to the decline. The three most actively traded stocks were: Dangote Cement (550.08 million shares), GTBank (41.33 million shares) and Zenith Bank (35.29 million shares). According to analysts at FSDH Research, “market activity across sectors was mostly bearish for the first trading day of the week. Prices tended southwards mostly owing to profit taking and price corrections. With the bearish mood in the market today, the equity market is moving close to an oversold position and may rebound during the week.� The bearish sentiments continued on Tuesday as the index sliding further by 0.46 per cent to close at 37,783.76. Again, the negative performance resulted from decline in the share prices of Zenith Bank, Dangote Cement, Dangote Sugar, GTBank and Nigerian Breweries Plc among. In line with the negative trend, performance across sectors was negative as all indices trended southwards save for the Insurance index which gained 0.8 per cent. The NSE Banking Index topped the losers chart, depreciating 0.7 per cent due to losses in ETI (-4.0 per cent) and Zenith Bank (-0.9 per cent). The NSE Industrial Goods Index trailed with a decline of 0.4 per cent owing to profit taking sustained in Dangote Cement (-0.7%) and Lafarge Africa (-0.5 per cent). Similarly, the NSE Consumer Goods Index and NSE Oil & Gas Index shed 0.2 per cent apiece. However, the market witnessed a rebound on Wednesday after two days of bearish trading. The index appreciated by 0.40 per cent to close at 37,933.86. The positive performance was boosted by gains recorded in the share prices Zenith Bank Plc, United Bank for Africa Plc, Nestle, GTBank and Seplat. In all, 23 stocks appreciated while 22 depreciated. Champion Breweries Plc, Linkage

million in 2016. Consequently, profit before tax stood at N868.683 million compared with a loss of N425.177 million, while PAT improved to N589 million as against a loss of N288.9 million in 2016. The market sustained the recovery recorded on Wednesday with the index appreciating 1.10 per cent to close higher at 38,350.64. The lift came from appreciation in the share prices of Dangote Cement, FBN Holdings, UBA, Access Bank and Transcorp. In terms of sectoral performance, three of the five indices trended southwards. The NSE Industrial Goods Index appreciated the most, rising 2.2 per cent, trailed by the NSE Banking Index that gained 0.7 per cent. Conversely, the NSE Consumer Goods Index fell 0.8 per cent. The NSE Oil & Gas Index shed 0.5 per cent, just as the NSE Insurance Index contracted 0.4 per cent. The bulls sustained rally on Friday, lifting the index by 0.45 per cent to bring the week -on-week gain to 0.22 per cent.

Assurance Plc and Seplat led the price gainers with 5.0 per cent apiece. NAHCO Plc trailed with 4.8 per cent, just as Learn Africa Plc, Unilever Nigeria Plc and Honeywell Flour Mills Plc added 4.7 per cent, 4.5 per cent and 2.3 per cent respectively. Conversely, Flour Mills of Nigeria Plc led and PZ Cussons Nigeria Plc led the price 4.9 per cent apiece. The price loss by FMN is coming despite the company’s plan to raise fresh capital. Flour Mills of Nigeria recently applied to the NSE to raise about N39.856 billion from the existing

shareholders. The funds would be raised through the issuance of 1,476,142,418 ordinary shares of 50 kobo each at N27 per share Rights Issue to existing shareholders on the basis of nine new shares for every 16 shares already held. The company had been contemplating raising fresh capital to ease the debt burden and reduce high interests. However, the company’s stockbrokers, Stanbic IBTC Stockbrokers Limited, formally applied to the NSE for the Rights Issue. On the other hand, PZ Cussons suffered a price decline despite recording a

profit for the half year ended November 30, 2017, compared with a loss in the corresponding of 2016. The company recorded a turnover of N41.123 billion, up by 23 per cent compared with N33.302 billion in the corresponding period ended November 30, 2016. PZ Cussons reaped the benefits of the stable foreign exchange as its forex loss declined by 47.9 per cent to N2.572 billion from N4.938 billion in 2016. However, interest paid on borrowings remain high with net cost of finance jumping by 957 per cent to N58.458 million to N501.183

Market Turnover Meanwhile, value and volume of trading soared last week as investors exchanged 2.243 billion shares worth N139.789 billion in 18,466 deals, up from 1.852 billion shares valued at N51.523 billion that were traded the previous week in 23,863 deals. The Financial Services Industry led the activity chart with 984.584 million shares valued at N10.588 billion traded in 11,116 deals, thus contributing 43.9 per cent and 7.6 per cent to the total equity turnover volume and value respectively. The Industrial Goods Industry followed with 564.804 million shares worth N125.378 billion in 927 deals, while the third place was occupied by Conglomerates Industry with a turnover of 804.447 million shares worth N561.921 million in 689 deals. Trading in the top three equities namely – Transnational Corporation of Nigeria Plc, Dangote Cement Plc and Aiico Insurance Plc accounted for 1.335 billion shares worth N125.907 billion in 888 deals. Also traded during the week were a total of 3,070 units of Exchange Traded Products (ETPs) valued at N455,245.00 executed in eight deals, compared with a total of 1,120 units valued at N14,179.00 that was transacted two weeks in four deals. A total of 3,780 units of Federal Government Bonds valued at N3.931 million were traded last week in 17 deals. Price Gainers and Losers The price movement chart showed that 35 equities appreciated higher than 16 of the previous week, while 25 equities depreciated lower than 46 equities of the previous week.Linkage Assurance Plc led the price gainers with 18.9 per cent, trailed by Livestock Feeds Plc with 11.3 per cent. Seplat Petroleum Development Company Plc chalked up 10.4 per cent, while Presco Plc and Fidelity Bank Plc garnered 8.8 per cent and 6.2 per cent in that order. FCMB Group Plc added 5.4 per cent, just as Vitafoam Nigeria Plc, ND Jaiz Bank Plc appreciated by 5.0 per cent each. Berger Paints Nigeria Plc and Red Star Express Plc gained 4.9 per cent apiece. Conversely, Dangote Sugar Refinery Plc led the price losers with 9.4 per cent, trailed by May & Baker Nigeria Plc with 8.3 per cent, while Flour Mills of Nigeria Plc shed 8.3 per cent. NPF Microfinance Bank Plc went down by 7.4 per cent, just as C & I Leasing Plc depreciated by 5.0 per cent. Other top price losers included: PZ Cussons Nigeria Plc, NCR(Nigeria) Plc, NASCON Allied Industries Plc , Glaxosmithkline Consumers Plc(4.9 per cent) and Total Nigeria Plc (4.7 per cent).

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INSIDE BROAD STREET

A view of Lagos ďŹ nancial district

AKINWUNMI IBRAHIM

Report: 100m Still in Extreme Poverty Obinna Chima A recent report from the World Bank and the World Health Organisation (WHO) has revealed that half of the world’s population cannot obtain essential health services. According to the report, each year, large numbers of households are being pushed into poverty because they must pay for health care out of their own pockets. Currently, 800 million people spend at least 10 percent of their household budgets on health expenses for themselves, a sick child or other family member. For almost 100 million people these expenses are high enough to push them into extreme poverty, forcing them to survive on just $1.90 or less a day. The findings, released recently titled: “Tracking Universal Health Coverage: 2017 Global Monitoring Report,� was simultaneously published in Lancet Global Health. “It is completely unacceptable that half the world still lacks coverage for the most essential health services,� Dr. Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation said. “And it is unnecessary. A solution exists: universal health coverage (UHC) allows everyone to obtain the health services they need, when and where they need them, without facing financial hardship.� Also, World Bank Group President, Dr. Jim Yong Kim said: “The report makes clear that if we are serious – not just about better health outcomes, but also about ending poverty – we must urgently scale up our efforts on universal health coverage.� “Investments in health, and more generally investments in people, are critical to build human capital and enable sustainable and inclusive economic growth. But the system is broken: we need a fundamental shift in the way we mobilise resources for health and human capital, especially at the country level. “We are working on many fronts to help countries spend more and more effectively on people, and increase their progress towards universal health coverage.� Nevertheless, it stated that there were some good news, stating that the reportfound that 21st century had seen an increase in the number of people able to obtain some key health services, such as immunisation and family planning, as well as antiretroviral treatment for HIV and insecticide-treated bed nets to prevent malaria. In addition, fewer people are now being tipped into extreme poverty than at the turn of the century, it added. It, however, stated that progress remained

MARKET INDICATOR uneven. There are wide gaps in the availability of services in Sub-Saharan Africa and Southern Asia. In other regions, basic health care services such as family planning and infant immunisation were becoming more available, but it noted that lack of financial protection meant increasing financial distress for families as they pay for these services out of their own pockets. This is even a challenge in more affluent regions such as Eastern Asia, Latin America and Europe, where a growing number of people are spending at least 10 percent of their household budgets on out-of-pocket health expenses. Inequalities in health services are seen not just between, but also within countries: national averages can mask low levels of health service coverage in disadvantaged population groups. For example, only 17 percent of mothers and children in the poorest fifth of households in low- and lower-middle income countries received at least six of seven basic maternal and child health interventions, compared to 74 percent for the wealthiest fifth of households. The report was a key point of discussion at the global Universal Health Coverage Forum 2017, that took place in Tokyo, Japan recently. Convened by the Government of Japan, a leading supporter of UHC domestically and globally, the Forum was cosponsored by the Japan International Cooperation Agency (JICA), UHC2030, the leading global movement advocating for UHC, UNICEF, the World Bank, and WHO. “Past experiences taught us that designing a robust health financing mechanism that protects each individual vulnerable person from financial hardship, as well as developing health care facilities and a workforce including doctors to provide necessary health services wherever people live, are critically important in achieving ‘health for all,’� Mr. Katsunobu Kato, Minister of Health, Labour and Welfare, Japan, said. “I firmly believe that these early-stage investments for UHC by the whole government were an important enabling factor in Japan’s rapid economic development later on.� “Without health care, how can children reach their full potential? And without a healthy, productive population, how can societies realize their aspirations?� the UNICEF Executive Director Anthony Lake said. “Universal health coverage can help level the playing field for children today, in turn helping them break intergenerational cycles

of poverty and poor health tomorrow.� November Inflation For the 10th consecutive month, inflation rate continued a downward trajectory, recording a marginal decline from 15.91 per cent in October to 15.90 per cent in November. The National Bureau of Statistics (NBS) last week stated that the Consumer Price Index (CPI), which measures inflation increased by 15.90 per cent (year-on-year) in November, 0.01 percentage points lower than the rate recorded in October (15.91) per cent. The 10th consecutive disinflation (slowdown in the inflation rate) though still positive in headline year-on-year inflation since January 2017 increases were recorded in all Glossary: Classification of individual consumption by purpose (COICOP) divisions that yield the Headline Index. On a month-on-month basis, the headline index increased by 0.78 per cent in November 2017, 0.02 per cent points higher from the rate of 0.76 per cent recorded in October. This represents the first rise in month-onmonth inflation following five consecutive months on month contraction in headline inflation since May 2017. The percentage change in the average composite CPI for the 12-month period ending in November 2017 over the average of the CPI for the previous 12-month period was 16.76 per cent, showing 0.21 per cent point lower from 16.97 per cent recorded in October 2017. The Urban inflation rate rose by 16.27 per cent (year-on-year) in November from 16.19 per cent recorded in October, while the Rural inflation rate also eased by 15.59 per cent in November from 15.67 per cent in October. Eurobonds, Diaspora Bond Listing The Debt Management Office (DMO) last week listed $300 million Diaspora Bond and $3 billion Eurobonds on the Nigerian Stock Exchange and Financial Market Dealers Quotation Over-the-Counter (FMDQ OTC) Securities Exchange respectively. The Diaspora Bond was issued in June while the $3 billion Eurobonds were issued in November at the International Capital Market (ICM). Both offers were issued with significant features with the $300 million Diaspora Bond was unveiled with five- year tenor and 5.625 per cent coupon. On the other hand, the Eurobonds issuances came in two tranches of $1.5 billion 10-year offer with 6.50 per cent coupon and another $1.5 billion 30-year offer priced at 7.625 per cent coupon. According to a statement from the DMO, listing

the $300 million Diaspora Bond and $3 billion Eurobonds on the NSE and FMDQ OTC would help increase the number and range of securities available in the domestic capital market. Such exercise, it added, would deepen the market and promote financial inclusion. Furthermore, it stated that the exercise wouldgive more visibility to the domestic debt capital market which will be beneficial for attracting capital from local and foreign investors. “Also, for the Eurobonds, which remains a sovereign security, the information it would provide such as coupon, yield and tenor will serve as benchmarks for corporates who may issue Eurobonds in the ICM,� the debt office added. Structural Reforms for Nigeria The International Monetary Fund (IMF) last week stressed the need for urgent macroeconomic and structural reforms in Nigeria, in order to place the country on a sustainable growth path as well as help achieve its quest for economic diversification. This formed part of the recommendations by an IMF staff team led by Amine Mati, that visited Nigeria between December 6-20th, 2017, to conduct the 2018 Article IV consultation. Following the conclusion of the visit, Mati, who is a Senior Resident Representative and Mission Chief for Nigeria at the IMF, in a statement that was posted on the multilateral institution’s website yesterday, noted that overall growth in the country was slowly picking up, but that recovery remained challenging. Economic activity expanded by 1.4 per cent year-on-year in the third quarter of 2017—the second consecutive quarter of growth after five quarters of recession—driven by recovering oil production and agriculture. However, growth in the non-oil-non-agricultural sector (representing about 65 percent of the economy), contracted in the first three quarters of 2017 relative to the same period last year. The IMF pointed out that difficulties in accessing financing and high inflation continued to weigh on companies’ performance and consumer demand. Headline inflation declined to 15.9 percent by end-November, from 18.5 per cent at end-2016, but remains sticky despite tight liquidity conditions. “High fiscal deficits—driven by weak revenue mobilisation—generated large financing needs, which, when combined with tight monetary policy necessary to reduce inflationary pressures, increased pressure on bond yields and crowded out private sector credit. “These factors contributed to raising the ratio of interest payments to federal government revenue to unsustainable levels.�

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2017: Year of Healing for Nigeria’s Economy From its worst foreign exchange crisis and other economic challenges in the first half of 2017, Nigeria’s economy is clearly on the path of recovery and will end the year on a positive note, writes Obinna Chima Nigerian Autonomous Foreign Exchange Market (NAFEX) rate, also known as the I&E Forex window. The central bank had introduced the I&E window last April to improve dollar liquidity in the forex market. The CBN has since intervened actively to support the local currency while keeping domestic liquidity conditions tight. Most activities now occur on the I&E window, with Fitch Ratings recently acknowledging that the rate on the I&E “should now be considered the relevant exchange rate�.

As of the end of 2016, the economic outlook for the Nigerian economy was hazy and gloomy given the precarious position of the macroeconomy as well as the recession that plagued the nation. At the time, GDP had, for the fourth consecutive quarter, contracted. The situation then which became more pronounced in the first quarter of 2017, was worsened by the low crude oil prices which is Nigeria’s major source of revenue. Crude oil continued to drop as the country was confronted with decline in oil production due to frequent shut-ins and shut-down of trunklines at various oil terminals, which also contributed to the drop in revenue. Also, inflation rate had risen significantly while persistent depletion of the country’s external reserves seemed irreversible. The stock market was not left out as there were plummeting stock market indicators, sustained net capital outflows and poor doing business indicators all characterised the economy then. Foreign exchange crisis was also pronounced as the naira was under intense pressure which saw to its decline to an all-time low. But the story of Nigeria’s economy changed completely in the second quarter of the year as major economic indicators started looking positive showing the capability of the economy to turn the corner. The second quarter also saw the country exiting a biting economic recession as well as the introduction of an Investors’ and Exporters’ (I & E) foreign exchange window which made its easy for investors to trade the greenback.

Analysts’ Reactions The Head of Research, SCM Capital Limited, Mr. Sewa Wusu described the outgoing year as a challenging one for the economy in terms of revenue for government to revamp the economy. “But 2017 was also a positive one in the sense that it was the year we exited recession. But what took us out of recession was not agriculture or any policy measure, but oil. “What that means is that we still need to do more and therefore there is need for policy measures to drive sustainable growth,â€? Wusu added. On his part, the Director General of the West African Institute for Financial and Economic Management (WAIFEM), Prof. Akpan Ekpo, argued that 2017 was not a good year, “even though we had a sluggish recovery towards the end of the third quarter.â€? He added: “It was a year that still signals that there is hardship in the land and the macro-fundamentals are still moving in the wrong direction.â€? EmeďŹ ele

Gross Domestic Product As stated earlier, as of the end of the fourth quarter of 2016, the Gross Domestic Product (GDP) figures looked gloomy as the economy in the full year contracted by -1.51 per cent. The contraction then reflected a difficult year for Nigeria, which included weaker inflation-induced consumption demand, an increase in pipeline vandalism, significantly reduced foreign reserves and a concomitantly weaker currency, and problems in the energy sector such as fuel shortages and lower electricity generation. But in comparison with the GDP figures for the third quarter of 2017, the nation grew by 1.4 per cent (year-on-year) in real terms, the second consecutive growth since the emergence of the economy from recession in the Q2 2017. The growth recorded in the third quarter of 2017, was 3.74 per cent points higher than the rate recorded in the corresponding quarter of 2016 ( -2.34%) and higher by 0.68 per cent points from the rate recorded in the preceding quarter, which was revised to 0.72 per cent from 0.55 per cent. External Reserves Nigeria’s external reserves grew by $13.73 billion in 2017, from $26.09 billion as of January 3, to $39.82 billion presently. The accretion was driven by increased portfolio inflows, rising in crude revenue as well as the success of the country’s Eurobond offerings. Purchasing Managers’ Index Due to the improvement in business confidence in the country, the Manufacturing PMI also recorded significant growth in 2017. For instance, the Manufacturing PMI in the month of November 2017, stood at 55.9 index points indicating expansion in the manufacturing sector for the eight consecutive months. Twelve of the 16 subsectors reported growth in the review month in the following order: petroleum & coal products; printing & related support activities; computer & electronic products; textile, apparel, leather and footwear; plastics & rubber products; food, beverage & tobacco products; nonmetallic mineral products; chemical & pharmaceutical products; furniture & related products; paper products; cement and primary metal.

However, the situation as of the beginning of the year was different as the Manufacturing PMI stood at 48.2 index points in January 2017, indicating a decline in the manufacturing sector during the review period. Prior to the January figure, the index had averaged 45.2 in the past 12 months, and had recorded declines for 11 consecutive months. Ination Inflation rate maintained a downward slide in 2017, due to the gradual recovery of the Nigerian economy. In fact, as of November this year, for the 10th consecutive month, inflation rate continued a downward trajectory, recording a marginal decline to 15.90 per cent in November, as against the 18.72 per cent it was as of January 2017. As of November, the National Bureau of Statistics (NBS) had explained that the Consumer Price Index (CPI), which measures inflation increased by 15.90 per cent (yearon-year) in November, 0.01 percentage points lower than the rate recorded in October (15.91) per cent. The federal government anticipate that inflation would drop to 12.4 per cent in 2018 as contained in the 2018 Appropriation Bill. Monetary Policy Rate The Monetary Policy Committee (MPC) met a total of six times this year and kept the benchmark monetary policy rate (MPR) unchanged at 14 per cent all through the year against the backdrop of challenging external conditions and downside risks in the domestic economic environment. The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele pointed out the the MPC took into consideration several factors in arriving at its decisions. He noted that although tightening would strengthen the impact of monetary policy on inflation with complementary effects on capital inflows and exchange rate stability, it nevertheless could also potentially dampen the positive outlook for growth and financial stability. Emefiele added: “On the other hand, whereas loosening would strengthen the outlook for growth by stimulating domestic aggregate

demand through reduced cost of borrowing, it could aggravate upward trend in consumer prices and generate exchange rate pressures. “The committee also feels that loosening would worsen the current account balance through increased importation. On the argument to hold, the committee believes that key variables have continued to evolve in line with the current stance of macroeconomic policy and should be allowed to fully manifest. “Members noted that the developments in output and inflation in particular required effective close monitoring in order to gain clarity on the medium term optimal path of monetary policy.� Clearly, the CBN continued to maintain a tight monetary policy regime in its quest to continue to attract portfolio inflows. Also, recent development in the United States might even see the CBN retaining its tight monetary policy regime longer than expected as a key question facing global investors today is what impact the US Federal Reserve’s monetary policy normalisation process will have on capital flows to emerging markets and other economies such as Nigeria that had enjoyed huge flows in recent times. According to an International Monetary Fund (IMF) report, raising the policy interest rate and shrinking the balance sheet—would likely reduce portfolio inflows by about $70 billion over the next two years, which compares with average annual inflows of $240 billion since 2010. Forex Management From a chaotic foreign exchange system in the first half of the year, due to the activities of speculators, currency traffickers among others, which saw the naira dropping to as low as N525 to a dollar, the naira has since stabilised at N360 to a dollar across various segments of the forex market. The stability was majorly driven by a raft of forex policies that were introduced by the central bank which included the I & E window. The surge in activities at the window has been attributed to offshore investor interest in treasury bills and the primary market auctions (PMA) by the CBN, with the resulting inflows leading to a convergence between the parallel market exchange rate and the

Way Forward The International Monetary Fund (IMF) has stressed the need for urgent macroeconomic and structural reforms in Nigeria, to place the country on a sustainable growth path as well as help achieve her quest for economic diversification. This formed part of the recommendations by an IMF staff team led by Amine Mati, that visited Nigeria between this month, to conduct the 2018 Article IV consultation. Supported by recovering oil prices, the IMF stated that the I & Eforeign exchange window had increased investor confidence and provided impetus to portfolio inflows, which have helped to increase external buffers to a four-year high, and contributed to reducing the parallel market premium. Furthermore, it noted that “important actions under the Power Sector Recovery Program increased power supply generation and ensured government agencies pay their electricity bills.� The Fund also welcomed steps “taken to improve the business environment and to address longstanding corruption issues, including through the adoption of the National Anti-Corruption Strategy in August 2017.� It noted that containing vulnerabilities and achieving growth rates that can make a significant dent in reducing poverty and unemployment requires a comprehensive set of policy measures. “On the fiscal front, the mission welcomes the recent tax reforms aimed at improving tax administration, planned increases in excises, and latest steps taken to lower debt servicing costs and lengthen maturities. “However, with oil prices expected to remain lower than in the past, upfront actions to mobilise non-oil revenues, including through reforming the VAT and removing exemptions, are needed while safeguarding priority expenditures, including scaling up social safety nets and infrastructure investment. “Fiscal consolidation should be accompanied by a monetary policy stance that remains tight to further reduce inflation and anchor inflation expectations. Moving toward a unified and market-based exchange rate as soon as possible while continuing to strengthen external buffers would be necessary to increase confidence and reduce potential risks from capital flow reversals,� it added.

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BUSINESSWORLD

ANALYSIS

A Bountiful Year for Investors 2017 has been a good year for investors as the stock market recovered from a three-year decline to post a record 43% growth, writes Goddy Egene For three consecutive years, the Nigerian equities recorded decline thereby sending negative signals to investors. The Nigerian Stock Exchange (NSE) All-Share Index (NSE ASI), which is the benchmark gauge to measure the performance of the equities market, recorded a cumulative fall of 39.61 per cent between 2014 and 2016. Specifically, the market fell 16.14 per cent in 2014, 17.3 per cent in 2015 and 6.17 per cent in 2016. The decline for three consecutive years led to exit of many investors who divested to fixed income securities, which returns are relatively stable and less risky. However, investors who remained in the equities market in anticipation of the return of the bulls are now counting their gains in 2017. With only three trading days left in 2017, the NSE ASI has recorded a growth of 43.34 per cent, rising from 26,874.62 to close at 38,522.14 last Friday. The market capitalisation of equities grew faster, rising by 48.1 per cent or N4.453 trillion from N9.256 trillion to N13.709 trillion. Just as the decline in the market in 2016 was expected, the recovery was also expected in 2017. Speaking on the 2016 performance of the market , the Chief Executive Officer of NSE, Mr. Oscar Onyema said: “After peaking at 31,071.25 in June 2016, an increase of 8.48 per cent over the 2015 closing value, the NSE ASI began to retreat to negative territory as total foreign inflow dropped 45 per cent between June (N42.46 billion) and July (N23.43 billion) due to: loss of confidence in the implementation of an announced free floating foreign exchange (FX) regime; weak corporate performance; and second consecutive quarter of negative economic growth in the period resulting in the economy entering into a recession.� An Imminent Recovery Onyema and some stakeholders in the market were optimistic that the market will recover this year. According to the NSE boss, the capital market is a subsector of the Nigerian economy and the World Bank has projected that the economy will recover from its recession in 2017 with a modest growth of 0.6 per cent. Onyema, therefore said based on the positive forecast and the initiatives being in place by the NSE, investors should be optimistic about recovery of the market in 2017. He said the Nigerian capital market will do a better job at promoting its unique value proposition to both global and domestic investors. We expect investors to continue to keep a close eye on the divergence between the interbank FX rate and other exchange rates in the country. Accordingly, a convergence of FX rates in the country and the performance of listed corporates will determine the level of market activity in the short term,� he said. Onyema disclosed that the NSE will take an adaptive approach to strategy execution in 2017, noting that in the immediate future, the NSE will focus on achieving its goal of becoming a more agile and demutualised exchange and will fast track efforts towards developing innovative products such as exchange traded derivatives to provide investors with tools to better weather economic realities in 2017. “We intend to strengthen our thought leadership efforts with policymakers to drive policies that will free up the system and promote the ease of doing business in Nigeria. We believe that incentive schemes for sectors of the economy that can support a pivot to export led economy will be beneficial and systematic removal of impediments to doing business and therefore reduction of leakages will attract private sector investments,� Onyema said. Analysts’ expectations It was not only Onyema who was optimistic about the recovery of the market this year, analysts at FSDH Research and Cordros Capital Limited were equally highly expectant that the market would close in the green in 2017. They had said that at the strong growth in the unaudited results that quoted companies released for the period January – March 2017 and the improvement in the macroeconomic environment, we believe the equity market is

gap between classroom learning and practical knowledge required for long-term personal financial planning. It serves as an essential platform to get the perspectives of our young ones on key challenges relating to financial literacy and inclusion in Nigeria. The competition’s overall goal is to develop a culture of wealth creation amongst our youth towards “Building a Financially Savvy Generation.� Onyema said. According to him, other financial literacy initiatives include school excursions to the Exchange, X-Tours, NSE Adopt-A-School initiative, school outreach programmes, financial literacy workshops and of course platforms such as the Global Money Week. “We also donated a school, Maisandari Alamderi Model Nursery and Primary School, to the Borno State Government as part of our commitment to the global drive of inclusive and equitable quality education for all. The school which is designed to help Internally Displaced Persons (IDPs) in the state, is made up of two blocks of classrooms for 330 pupils and an administrative block consisting of a staff room, sickbay, security office and restrooms. Through these initiatives, we have been able to promote financial literacy among young Nigerians, by encouraging them to learn how good financial decisions can better their lives now and in the future and ultimately grow the economy,� he added. On its part, the Securities and Exchange Commission (SEC) introduced and executed some initiatives that gave more investors to return to market in 2017. They include: dematerialization of share certificates; direct cash settlement; electronic dividend management system; national investor protection fund; complaint management framework; and corporate governance code and scorecard. Onyema

ready for a recovery in 2017. The analysts explained that the increase in the supply of foreign exchange to meet the input requirements of manufacturing companies should increase their production activities and revenue in the current financial year. They said data from the National Pension Commission (PenCom) on the allocation of the Pension Fund Assets as at February 2017 showed that the weight of the pension fund assets on domestic equity dropped consistently from 2014 to 2017, noting, however, that there are indications that there is room for pension fund assets to allocate more funds to equities. FSDH added that the value of equity transactions from foreign and domestic investors declined between 2014 and 2016, explaining that although the relative size of foreign investors’ participation in the equity market declined between 2014 and 2016, the share of foreign investors’ participation was higher than domestic investors’ participation between 2014 and 2015. “The stability in the macroeconomic environment and the strong earnings of quoted companies should attract the needed liquidity into the market. Consequently, the equity market should record a strong recovery in the year 2017,� they stated. In the same vein, analysts at Cordros Capital had said the better-than-expected Q1 results would bolster the market to sustain positive growth in April. “We expect the current improvement – albeit modest – in the macroeconomic environment, especially the currency space, will further stoke investor appetite, particularly in the event of no negative surprise(s). Better-than-expected first quarter results (we expect a few top names to announce results before the end of the month) may act as catalyst,� they said. A boost from Forex Window However, the major factor that led to the rebound in the market was the introduction of Investors’ & Exporters’ (I&E) foreign exchange (FX) widow by the Central Bank of Nigeria (CBN) in April. Commenting on the new policy, analysts at Cordros Capital Limited said they sensed

improved investor appetite for risk assets on the Nigerian bourse, judging by market activity and the spike in the number of deals and the volume of shares traded shortly after the introduction of the policy. They linked the performance to reduced apprehension in the macroeconomic environment, impressive full year 2016 and 2017 first quarter (Q1) results of highly capitalised companies, as well as increased confidence and liquidity in the forex market. Speaking in the same vein, analysts at Afrinvest said foreign investors’ appetite for Nigerian assets had waned significantly on the back of the currency crisis, which in turn had fundamentally weakened macroeconomic environment, dragged corporate earnings, and impacted negatively on the equities market. “However, in April, investor sentiment strengthened following the commencement of I&E FX window which signalled a possible return of flexibility in forex rate determination, though multiplicity of rates at the official window is still a concern. Regulators’ efforts One of the reasons the market suffered three years of a decline was refusal of investors to return after past losses they recorded. Despite the losses, some investors were still recording gains in the market, indicating that what was needed was more enlightenment on the part of the investors. Realising this, regulators in the market intensified their investor education and financial literacy initiatives. Explaining the importance of financial literacy, Onyema said contemporary society requires everyone to understand the principles of money management and to develop personal financial management skills that will enable them manage their finances effectively to achieve financial freedom. “We are playing our part in building a financially savvy generation, by implementing and supporting a number of programmes that contribute to raising the level of financial literacy in Nigeria. Notable among these programmes is the NSE Essay Competition which began in the year 2000. The competition is aimed at bridging the

Low Point While the recovery of the market in 2017 would have ignited wild celebration among all stakeholders, allegations of breach of corporate governance issues against the management of Oando Plc and of financial impropriety against the Director-General of SEC, Mounir Gwarzo have proved to be a sore thumb. SEC in October, placed a technical suspension on the shares of Oando Plc and directed a forensic audit in the operations of the oil firm. According to SEC, the action was a result of outcome of a comprehensive review of petitions by Alhaji Dahiru Barau Mangal and Ansbury Incorporated alleging financial mismanagement of the company. The duo had petitioned SEC, claiming majority shareholding in Oando Plc and that the company was being mismanaged by the Wale Tinubu-led management. The commission explained that it carried out a comprehensive review of the petitions and found: breach of the provisions of the Investments & Securities Act 2007; breach of the SEC Code of Corporate Governance for Public Companies; suspected insider dealing; suspected related party transactions not conducted at arm’s length and discrepancies in the shareholding structure of Oando Plc among others. SEC said after due consideration, the commission believes that it is necessary to conduct a forensic audit into the affairs of Oando Plc. But the management of Oando Plc faulted SEC, saying the forensic was not only unnecessary but was capable jeopardising the company’s operations. While the market was waiting for the resolution of this matter, the news of financial impropriety against Gwarzo came in October. He was alleged to have requested and received the sum of N104 million as severance package when he became DG in 2015. A petition, which has been sent to the House of Representatives over the alleged fraudulent activities, also accused Gwarzo of violating the rules guiding the SEC by awarding contracts to his companies and those of his family and friends. The federal government in November suspended Gwarzo to allow for an unhindered investigation of several allegations of financial impropriety levelled against him. However, Gwarzo has said his suspension was due to his refusal to discontinue the forensic audit into the affairs of Oando Plc.

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T H I S D AY ˞ ˜ DECEMBER 25, 2017

BUSINESS/MONEYGUIDE

Experts Call for Incentives to Promote Financial Inclusion Obinna Chima The Central Bank of Nigeria (CBN) and the Committee of E-Business Industry Heads (CeBIH) have been advised to collaborate with stakeholders in the electronic payment industry to develop a framework of incentives and disincentives to promote financial inclusion in the country. The Chairman of Secure ID Limited, Mr. Adedotun Sulaiman, made this call in a keynote address delivered at the 2017 annual retreat of CeBIH held in Abeokuta recently. Speaking on the theme of the retreat, “Repositioning Digital Payments to achieve the Financial Inclusion Goals of FSS 20:2020�, he identified the need to develop incentives and disincentives to promote financial inclusion as one the factors that will facilitate adoption of digitisation to drive financial inclusion. Represented by the Divisional Chief Executive Officer, Interswitch, Financial Inclusion, Mr. Mike Ogbalu, Sulaiman, also cited the need for regulators and policy makers to encourage innovation around development and widespread mobile technologies and their integration with banking infrastructure, which he noted, “have increasingly enabled the delivery of convenient banking services to demographics and locations previously under-served, on

the back of increasing access to data and devices by more people in emerging markets�. He also stressed on the need to encourage banks and other large, traditional financial service providers to extend their outreach by leveraging third party agents, agent network managers to increase their reach among the populace. Challenging operators in the financial services sector to learn from consumer goods and mobile telecoms firms to develop strategies to increase financial service reach and penetration among Nigerians, Sulaiman said: “Today in Nigeria, access to mobile telecommunications has reached over 125 million Nigerians and the numbers are still growing. While the telco subscription has been phenomenal in terms of reach and penetration, it has regrettably been difficult to translate these successes into financial services reach. “A significant population of rural and economically-deprived Nigerians remains underserved and financially-excluded. This is largely due to limited financial services access points which is a function of the huge investment required to build and sustain brick-and-mortar bank branches, as well as the complexities of managing large, country-wide agent networks. “It is also pertinent to highlight the instructive lesson that the financial services

sector needs to rapidly absorb very useful insights from the experiences of consumer goods and mobile services industries, which happen to have leapfrogged banking as far as achieving far greater outreach and penetration of their products and services, and herein lie the imperatives for industry players. “Specifically, these insights lie in the following areas: understanding consumer needs and staying connected as the needs evolve; designing products that adequately address those needs and create a customer pull; leveraging and riding on deep, broad, and resilient, third party distribution networks which are not necessarily part of their owned infrastructure; and effective branding, marketing, promotion and active consumer engagement and education�. Also, the Chairman of CeBIH, Mr. Dele Adeyinka, while addressing participants, said that the retreat was in fulfillment of the mandate of the Committee, which among other things was to promote global best practices in the implementation of strategies for electronic banking in Nigeria and facilitate a forum for interaction and exchange of information, ideas and experiences among banks, service providers, regulators and all other stakeholders in the electronic payment space in Nigeria.

Union Bank Announces Board Changes Union Bank of Nigeria Plc has announced changes to the membership of its Board of Directors with the retirement of an Executive Director, Mr. Ibrahim Kwargana and the resignations of Non-Executive Directors, Mansur Ahmed, Mrs. Onikepo Akande and Mrs. Arina McDonald in October 2017. Kwargana’s retirement came after 33 years in the banking sector. He was appointed as an Executive Director in 2009 by the Central Bank of Nigeria (CBN), and until his retirement, was responsible for the bank’s public sector business as well as commercial business development for the northern region. Also, Akande and McDonald

resigned following the successful completion of their tenures on the board of the bank or the core investor represented. To this end, Union Bank in a statement at the weekend, announced the appointments of Mr. Taimoor Labib as NonExecutive Director as well as Mrs. Obafunke Alade-Adeyefa and Mrs. Furera Isma Jumare as Independent Non-Executive Directors. All the appointments have been approved by the CBN. Commenting on the reconstitution of the Board, Chairman of the Board of Directors, Mr. Cyril Odu said: “I am grateful to our outgoing Directors for their immense contributions during a critical time, and I am proud of the accomplishments we achieved together as we

worked to transform the bank. “On behalf of the board, I thank them for their service and wish them much success in their future endeavors. “I am also pleased to welcome Mr. Taimoor Labib, Mrs. Obafunke Alade-Adeyefa and Mrs. Furera Isma Jumare who bring dynamic experience to the Board which will be valuable as we work to continue to move the bank forward.� Also commenting, the Chief Executive Officer, Mr. Emeka Emuwa said: “The contributions of our outgoing Directors were key to the success of our transformation programme. As we embark on a new phase of growth, we welcome our new Directors who will bring fresh perspectives to our Board deliberations.�

Experts Outline Steps to Boost Customer Satisfaction Success in today’s economy requires that business leaders and corporate entities create positive memories for their customers or partners. This was the key takeaway from the fourth edition of the Triple A annual retreat, which held at The Civic Centre, Victoria Island, Lagos, recently. This imperative, according to the organiser of the event, Ade Adefemi, underscored the GETSET, which brings together annually people from different sectors of business and economy to help nurture and expand their already birthed ideas. The primary purpose of the forum, Adefemi stated, was to help keep medium scale and

large businesses at a cutting edge and ahead of the trends. A statement explained that he started the event concentrating on developing the mindset of an innovator, digging deep into what disruptive innovations are and how they are needed to lead and stay ahead of completion in the market. Adefemi and others shared insights from the businesses they run and how they have kept these businesses on the cutting edge. The event had the theme: “Innovating for Profits.� Also speaking on ways to improve personal income was a finance coach, Cornel Agwu. He took his audience through personal finance management

and improvement. Similarly, Ifeoma Williams, a communications expert, delved deep into how branding and communications skills could increase the bottom line or the lack of it and subsequently put a business in a precarious situation. She however, pointed out cutting edge strategies with which individuals or organizations can reposition themselves for future growth. Managing Director of Credit Direct, Akin Ademosu, shared his over 15 years’ experience on how he turned a business of N200,000 into a company with over 30 branches across Nigeria today.

CBN building

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2017 Broad Money (M2)

21,851,454.31

-- Narrow Money (M1)

9,890,813.10

---- Currency Outside Banks

1,523,239.91

---- Demand Deposits

8,367,573.19

-- Quasi Money

11,960,641.22

Net Foreign Assets (NFA)

9,732,990.89

Net Domestic Assets(NDA)

12,118,463.42

-- Net Domestic Credit (NDC)

26,821,446.81

---- Credit to Government (Net)

4,824,226.22

---- Memo: Credit to Govt. (Net) less FMA

7,834,536.74

---- Memo: Fed. and Mirror Accounts (FMA)

--3,010,310.52

---- Credit to Private Sector (CPS)

21,997,220.59

--Other Assets Net

--14,702,983.39

Reserve Money (Base Money)

5,486,804.65

--Currency in Circulation

1,868,735.07

--Banks Reserves

3,268,266.17 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

August 2017

Inter-Bank Call Rate

22.63

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

13.35

Savings Deposit Rate

4.08

1 Month Deposit Rate

8.86

3 Months Deposit Rate

10.14

6 Months Deposit Rate

11.51

12 Months Deposit Rate

11.40

Prime Lending rate

17.69

Maximum Lending Rate

31.20 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT WEDNESDAY DECEBER 20, 2017

The price of OPEC basket of fourteen crudes stood at $62.16 a barrel on Wednesday, compared with $61.72 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

35

T H I S D AY Ëž Ëœ Í°ÍłËœ Í°ÍŽÍŻÍľ

MARKET NEWS

2018: Vetiva Bullish on Equities Market, Projects 15% Growth Goddy Egene As the nation’s market moves to close 2017 with its first positive performance after three years of decline, Vetiva Research has projected continuous growth in the equities market in 2018. After declining in 2014, 2015 and 2016, the equities market is expected to close 2017 with a growth above 40 per cent. In its Full Year 2018 Outlook

report on the Nigerian economy, key sectors and capital markets, Vetiva Research said equities will have the upper hand in comparison to the fixed income space. According to the research analysts from the investment banking firm, “Despite the 2017 equity market rally driven by a partial liberalisation of the country’s exchange rate regime, the Nigerian Stock Exchange

P R I C E S MAIN BOARD

F O R

DEALS

remains relatively undervalued.� They have therefore projected further gains for the equities market in 2018, with an estimated full year return of between 15 per cent and 20 per cent. Vetiva also presented its “10 High Conviction Stocks� for 2018, representing key counters on the NSE that present strong fundamentals and are expected to outperform the market in the

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

year. With their “10 High Conviction Stocks� outperforming the board market return by 15 per cent and 16 per cent in 2016 and 2017 respectively, Vetiva highlighted Tier II banking stocks amongst others as key recommendations for 2018. On the broader economy, Head of Vetiva Research, Olalekan Olabode, said: “As the Nigerian economy continues

T R A D E D MAIN BOARD

A S

its recovery, possible political tension ahead of 2019 elections could cap gains from the wider economy. The second half of 2018 is likely to be blurred by possible political and social volatilities, whilst electioneering could potentially distract policymakers and delay investment. The silver lining can be found in Nigeria’s more mature democracy in terms of credibility and transition, ensuring that the

O F

economy progresses relatively unencumbered.� Also speaking, Chief Economist of Vetiva Capital, Michael Famoroti stressed for brave policy action to shift growth beyond first gear. According to Famoroti, amid a more accommodative global environment, Nigeria should have confidence in boldly pursuing its internal growth agenda.

1 5 / 1 2 / 2 0 1 7 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

36

MONDAY/TUESDAY DECEMBER 25-26, 2017 T H I S D AY

T H I S D AY MONDAY/TUESDAY DECEMBER 25-26, 2017

37

38

MONDAY/TUESDAY DECEMBER 25-26, 2017 T H I S D AY

Returns on utilization of funds sold to customers for the week ended Friday 22nd December 2017 S/N

CUSTOMER

ITEM OF IMPORT

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124

CENTRAL BANK OF NIGERIA ECOBANK NIGERIA PLC OLUSEYE OLUGBENGA BAMIGBAIYE ODIKA OGHENERUKEVWE SARAH EMMANUEL JOSEPH VICTOR OLAJIDE WILLIAMS UGOCHINYERE OLUCHI UGWUZOR KOLA-OMOMOWO OLUFUNKE AKPOLO CLIFFORD KENNETH KANEBI OLUBISI FADEKEMI ADENIJI JOSEPH OMOKOLAPO AKANDE OGUNJIMI OLADIPUPO BABAYO HURAIRA MAKAJUOLA WAHEED OLADAPO OPEYEMI ABAYOMI OLANIRAN OFFIAH CHIGOZIE JACINTA BABAJIDE OLADIMEJI OLAJIDE ADEYINKA MODNAT ODUEKUN SULE MARYAM MOSHOOD TAIWO LAWAL ABDUL ADEBAYO KAMARUDEEN EYITEMI RITA IGBENE ODUMERU BUSOLA FATIMA YUSSUF IBIFURO ADAOBI AROWOLO ADESOLA ADENIKE SHONIBARE ADEKEMI OYEDELE-ARO KEMI THERESA AIGBEME ALEKHIAGBOR MOMOH ODUWAIYE MARIA OLUWADAMILOLA SOTONYE OKUJAGU TITILAYO OKUJAGU AZICHOBA FRANCIS CHUKWUEMEKA AJIBOYE SEGUN SHEFULLAHI NWOKE CHRISTOPHER OKECHUKWU NWANU CHRISTOPHER MONYE IFECHUKWUDI KINGSLEY FOLAKE FLORENCE OLAGUNDOYE OGIAMEN OSEMWEGIE MITCHELL UTOH YEWANDE ADEBOWALE SENAPAN BAKARE JUWAH IKECHUKWUKA LAWRENCE OLUFUNKE ABOYADE AGUELE OMONO LOLITA GIWA-OSAGIE BOSEDE ABBE BOND OSAHON KOYA OLUWOLE OLATUNJI ATAJA BINTA OJOCHIDE ATAJA ABU MOHAMMED BEN-OMOTEHINSE OLUWASEUN SEREOLA ADENIYI ABIOLA ADETOKUNBO ADEBOWALE AFOLABI AJAYI OYEWOLE KAZEEM ADEBOTE CHRISTINA KUCHELI EGWUATU CHUKWUEZUGO OBUMNEME ACHARU LAMI MOHAMMED OLAOGUN OLUWADAMILOLA OLUFUNBI AHMED ZAINAB WALI AHMED WALI BINTA CHIKA DIDIA OLUWAYEMISI OLASUMBO OGUNBODEDE DOMINIC ETUK BENITA AGBO CHUKWUEMEKA ANAGA ONYECHIE LAWRENCE ONYEMA AJANI OLUFUNKE JANET OFFOR KELECHI THERESA DUNIYA YAMAI CHARLES OYETOLA ABIOYE ODUYEMI OGUAMANAM NNENNA OLOWOOKORUN MICHAEL OJO ADIGUN OLUWASEGUN MICHAEL OMOLE ADEOLA OLUWOLE ALAYANDE OLUFEMI OLADOKUN GANA MBWIDIFU PATIENCE OMOWUNMI OLASIMBO-CHAMPION CLEMENT OBINNA OGBUEHI POGOSON TOLULOPE MUHAMMADU DAHIRU JADA ODIKA ONYEKACHUKWU IWEHAI BAKER TOLULOPE MOTOMORI OLUBODUN OLUWAFEMI JULIUS TAIWO OLUWAKEMI ADETOKE AKABUSI MARTIN EMEKA OPUIYO OFORIOKUMA ASUQUO WILLIAN ENE-EYO LIPEDE ADEDOYIN MAYO OLUBUKONLA ABOLANLE OLUDAMILOLA ONAKOYA ADEDAPO SHERIFAT REMI ORIGUNLOYE OLUMIDE EMMANUEL ALLISON OLUWAKEMI ADEDOYIN AKINOLA OLUBUKOLA OLUFUNKE OLATUNDE AKINWANDE OPEYEMI ABIDEMI OYINLOLA LUCKY UBIRIBO AFOLAYAN TEMITOPE OLUWASEUN DAMILOLA OGUNSI JUWAH NKECHI CATHERINE AROYEWUN RISIKAT DAMILOLA ATAJA OJALI HAUWA ABIEYUWA MARY OMOREGIE OLUBODE ABDUL-HAKEEM OUWAYOMI GBAIYE OLUWASEUN GBEMISOLA ASHCROFT ABIODUN TERESA WALE-FALOPE IBITAYO OLUBOWALE OYETOLA ABIOYE ODUYEMI BANJO OMOWONUOLA OLUKUNLE BUSAYO NATHANIEL ABISOLA OLUWATOYOSI AJAYI EHIMEN EROGHENEVWORHE PERPETUA ONYEBU FRANK IKECHUKWU OLUGBENGA KOMOLAFE FAJINMADE IFEDOLAPO ADEYINKA ADEJUWON ABIODUN OLUGBENGA IYOHA OLAJUMOKE ADETOLA AKINTOLU OLUMUYIWA ANTHONY AKINSANMI FUNMILAYO STELLA ADESEYE IYIADE AJAYI ACHA NELSON MARTHA BROWN AHMED WALI AMINU ALARAPE OLUYOMI ADESOLA AZEEZ SEKINAT OLUWATOYIN ADENIJI MOSUNMOLA PETER ALENOGHENA AIGBA

BATCH IMTSO FUNDS INTERBANK SALES PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA

DATE OF FUND SALE

AMOUNT

EXCHANGE RATE

CCY

20-12-2017 18-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 19-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017

96,851.70 400,000.00 4,000.00 3,000.00 4,000.00 4,000.00 1,000.00 139.00 4,000.00 4,000.00 360.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 3,500.00 3,250.00 4,000.00 4,000.00 4,000.00 4,000.00 1,400.00 1,600.00 4,000.00 1,000.00 4,000.00 2,800.00 4,000.00 1,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 700.00 4,000.00 4,000.00 4,000.00 4,000.00 3,000.00 3,000.00 4,000.00 4,000.00 4,000.00 4,000.00 3,000.00 4,000.00 3,500.00 1,950.00 2,000.00 4,000.00 4,000.00 1,400.00 4,000.00 4,000.00 1,200.00 4,000.00 2,780.00 4,000.00 3,000.00 4,000.00 500.00 3,100.00 3,600.00 4,000.00 4,000.00 4,000.00 4,000.00 3,300.00 4,000.00 4,000.00 4,000.00 1,500.00 2,500.00 2,500.00 4,000.00 3,600.00 1,000.00 4,000.00 4,000.00 4,000.00 4,000.00 1,000.00 2,000.00 4,000.00 4,000.00 4,000.00 2,000.00 1,000.00 1,000.00 4,000.00 1,700.00 3,000.00 4,000.00 4,000.00 1,000.00 4,000.00 4,000.00 4,000.00 3,510.00 4,000.00 400.00 4,000.00 900.00 4,000.00 1,000.00 4,000.00 4,000.00 1,900.00 1,000.00 2,600.00 1,400.00 4,000.00 4,000.00 3,150.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00

357.00 314.50 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250

ADETOLA OPEYEMI OGUNLEWE ADEROGBA AND BIOBELEMOYE ARIM YUSUF ADEDAMOLA SULAIMON NAIYEJU JOHN ADEBAYO ALIU OPEYEMI OLANREWAJU KOLEAJE MARIAM KEHINDE OTSE EGWURUBE AMOS KANIFE JOHN IFEANYI NNENNA ONWUZO STEPEHEN-ADESINA PETER OLUMIDE - CORRECTED UWASOMBA ROSLEINE OJOSIPE SIMISOLA SHITTU FATIMAH BUKOLA OMEOGU UGOCHUKWU CYRIL NJOKU ABRAHAM NWACHUKWU JOY OGHOGHO ISA AKPAN BERNICE NWANYINTA ALAYEROGUN MORENIKE IMEBUOGU ABBA EKWE NNACHETTA NNAEMEKA OMOTUNDE ALAO-OLAIFA JOHNSON TOYIN OLOGBOSERE ADESOLA OJOKOJO GERTRUDE AKPOWEADOR OLAJUMOKE ADETOLA IYOHA ADENIYI OLUWATOYIN OLAYINKA DR CALVIN ANTONZA ANIBABA TASLIM ORIMOLAGUN EFFIONG PAUL BASIL CBN INSEGILADE ADETUTU ADEMOROTI OYEWOLE KAZEEM AREMO DEBORAH OMOLEYE ADEROGBA ARIMORO KOLAWOLE OLADAPO OMOJOKUN ADESINA IRENE FOLASHADE AKUBUNAITULU ENTERPRISES FRANK TOCH VENTURES IKE EMMA GLOBAL VENTURES DE BLESSED IYKE RESOURCES NOSSYMOORE COLLECTIONS COMPANY VERTRAG INTERNATIONAL LIMITED CHIBISC INTEGRATED SERVICES LTD OSY-EMMACO STANDARD NIG. LTD SKY SPECS LIMITED OMALE .O. ASSOCIATES LTD ARIN VAL MERCHANDISE LTD DECAN AND ASSOCIATES NIG. LTD CAMATEX GLOBAL INVESTMENT NIG. LTD EMMYGREAT GLOBAL WEST AFRICA LTD CJ JESUAMAKA ENT. NIG. LTD HIS RADIATION & GLORY VENTURES INET DIGINET ELECTRONICS DE EMPEROR GOSHEN GLOBAL HOMES KOSI UNIVERSAL CONCEPT VIN ANN GLOBAL ENTERPRISES NIG LTD EKING GLOBAL CONCEPTS LTD EAST WEST GULF KAES-VIN INV. NIG LTD ANGO GOLD IMPEX CO LTD EMMAFRAN RESOURCES KYMA LEO CONCERNS LIMITED ROSARY OF D QUEEN VENTURES FODABB SOLUTION COMPANY LIMITED DEIFY JOE ENTERPRISES LTD REALS PHARMACEUTICALS LIMITED SAHEL UNIVERSAL SERVICES RAY M NEO WORLD OF TECHNOLOGY AMASON UNIC INTERBIZ LTD BLESSED NONSO GLOBAL VENTURES KABIOL INVESTMENTS LIMITED KENEDIM INTERNATIONAL CO. LIMITED EBUKA KELVIN GLOBAL RESOURCES ROYAL OKESON GLOBAL RESOURCES GOOD FELLOWS INTERNATIONAL CO LTD C.C. MECHITEC ENTERPRISES LIMITED DON CHIDECH CONCEPTS LTD UNCLE VITAL STEEL LIMITED ANOS LINKS MULTI RESOURCES LTD GLORIOUS POINT LINK GLOBAL LTD CHANNEL STEEL ENTERPRISES STANEZE INTERNATIONAL COMPANY LTD AKA D MARTINS LIMITED SIGMA INTEGRATED BUSINESS LINK LTD ROSVIL GLOBAL VENTURES LTD GLOBAL CHUBYSON VENTURES LTD IYAOLOJA ENTERPRISES DHL INTERNATIONAL NIGERIA LTD LUXXORGAS LTD BUSINESS CONNEXION HUAWEI TECHNOLOGIES COMPANY (NIGERIA) LTD BRILLIANT SHIPPING SERVICES LTD BRILLIANT SHIPPING SERVICES LTD BUSINESS CONNEXION BIN ZHOU PREMIUM IDEAS LTD ETOP NIGERIA LTD AUSTIN ONARO AGBAJE BABAUNDE AINA OYEKOLA OLUREMI FRANCIS OYEKOLA OLUREMI FRANCIS LADIPO KIKELOMO LAURA MR & MRS UZOCHUKWU THOMAS & EZINWA CHINEDU UKAZIM UKAZIM CHINEDU CHIDI KINGSON CHUKWUEMEKA OBASI CHRISTIAN ANELECHI OBASI CHRISTIAN ANELECHI ABIMBOLA NIBSON - NIBORO OLAIYA IBIKUNLE SEUN TAIWO VIVIAN IHEJIMAGHA IKPEME NNENNA ENE OLUSIKE TOKUNBO BAMISEBI NATHANIEL OYATOGUN JIMOH UMORU ALIYU JIBRIN ADEBUSOLA ABIODUN OLAWOYIN KEHINDE OLASHORE TEGA ADEDA DADA OLUGBOYEGA MUSTAPHA ADEREMI BASHIR MUSTAPHA ADEREMI BASHIR AJAYI ADENIYI TORIOLA IDRIS TUNRAYO OLUYOMI BALOGUN AYOKUNLE M. OYEDELE

PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA MOTORCYCLE SPARE PARTS ELECTRICAL FITTINGS ELECTRICAL FITTINGS ELECTRICAL FITTINGS ELECTRICAL FITTINGS PEN DRIVE AUTO PARTS EMBROIDERY THREAD COTTON BIAS COTTON SEWING THREAD COTTON BIAS EMBROIDERY THREAD COTTON SEWING THREAD COTTON SEWING THREAD COTTON SEWING THREAD COTTON SEWING THREAD ELECTRONIC ITEMS ELECTRICAL WIRES WATER PUMP AUTOMOBILE PARTS AUTO PARTS AUTO PARTS INDUSTRIAL FILTER AGRICULTURAL & MOTORCYCLE SPARE PARTS

TRANSMISSION SHAFT AND BRAKE PAD NEW AUTO SPARE PARTS FM RADIO FM RADIO SEA PRODUCTS FOR ANIMAL FEED PHARMACUETICALS - DRUGS CATERPILLAR SPARE PARTS ALUMINIUM COILS NEW AUTO SPARE PARTS AGRICULTURAL SPARE PARTS SEWING MACHINE NEEDLES FURNACE BURNERS ALUMINIUM PLATES ALUMINIUM PLATES BENDING MACHINE SAFETY STEEL DOOR SANITARY WARES SANITARY WARES SANITARY WARES BATH TUB SANITARY WARES SANITARY WARES SANITARY WARES SANITARY WARES SANITARY WARES SANITARY WARES MAKE UP KIT INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES

22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 19-12-2017 18-12-2017 18-12-2017 19-12-2017 20-12-2017 19-12-2017 20-12-2017 18-12-2017 18-12-2017 19-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 22-12-2017 22-12-2017 19-12-2017 20-12-2017 21-12-2017 22-12-2017 19-12-2017 19-12-2017 20-12-2017 20-12-2017 20-12-2017 21-12-2017 22-12-2017 22-12-2017 19-12-2017 20-12-2017 20-12-2017 22-12-2017 22-12-2017 18-12-2017 19-12-2017 22-12-2017 21-12-2017 22-12-2017 22-12-2017 18-12-2017 18-12-2017 18-12-2017 19-12-2017 20-12-2017 20-12-2017 20-12-2017 21-12-2017 22-12-2017 22-12-2017 22-12-2017 19-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 18-12-2017 21-12-2017 19-12-2017 20-12-2017 22-12-2017 22-12-2017 21-12-2017 20-12-2017 21-12-2017 21-12-2017 21-12-2017 22-12-2017 21-12-2017 18-12-2017 19-12-2017 21-12-2017 22-12-2017 22-12-2017 18-12-2017 20-12-2017 22-12-2017 21-12-2017 21-12-2017 21-12-2017 22-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017

1,500.00 2,500.00 4,000.00 3,000.00 4,000.00 3,200.00 1,200.00 4,000.00 4,000.00 1,100.00 4,000.00 1,800.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 3,000.00 4,000.00 4,000.00 4,000.00 3,900.00 2,000.00 3,200.00 1,400.00 4,000.00 3,000.00 4,000.00 4,000.00 3,000.00 1,100.00 4,000.00 4,000.00 4,000.00 440.00 20,000.00 20,000.00 20,000.00 7,000.00 20,000.00 1,000.00 12,100.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 5,600.00 15,000.00 20,000.00 4,317.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 7,560.00 19,999.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 18,000.00 7,500.00 15,000.00 20,000.00 20,000.00 10,000.00 20,000.00 20,000.00 5,532.48 60,000.00 40,000.00 348,000.00 112,000.00 36,992.50 33,007.50 55,007.50 14,992.50 100,000.00 117,597.26 14,231.73 2,000.00 7,300.00 7,290.00 2,954.35 15,000.00 14,169.00 14,133.03 1,529.05 2,564.58 2,894.94 3,095.42 15,000.00 3,941.66 2,093.00 1,543.88 2,147.20 8,500.00 9,818.50 3,000.00 3,453.41 3,100.00 2,013.37 1,993.29 920.00 4,060.00 4,480.25 2,660.20 11,384.02 4,406.77

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 306.65 315.50 315.50 306.65 306.65 307.15 306.65 307.15 306.65

USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

39

T H I S D AY MONDAY/TUESDAY DECEMBER 25-26, 2017

Returns on utilization of funds sold to customers for the week ended Friday 22nd December 2017 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284

ANITA OKONJI ADEOLA KUKOYI GMT NIGERIA LIMITED JOSEPH MOSES OLUKAYODE FASUYI OLUWASEUN EZEKIEL PRUDENT ENERGY & SERVICES LTD NATURAL PRIME RESOURCES NIGERIA LTD TOP-GEN POWER LTD IRON PRODUCTS INDUSTRIES LTD EASTCHASE ALUMINIUM PRODUCTS LTD JEZCO OIL NIGERIA LTD AIPEC OIL AND GAS LTD ALKANES PETROLEUM & GAS LTD FYNEFIELD PETROLEUM COMPANY LTD RAINOIL LTD NIGERIA BREWERIES GZ INDUSTRIES LIMITED TOTAL NIGERIA PLC GUINNESS NIGERIA PLC ELEME PETROCHEMICAL CO LTD ELEME PETROCHEMICAL CO LTD GMT NIGERIA LTD PEP STORES NIGERIA (PTY) LTD PEP STORES NIGERIA (PTY) LTD PEP STORES NIGERIA (PTY) LTD HYDE ENERGY LTD CGC NIGERIA LTD M.C. PLASTIC LTD GUINNESS NIGERIA PLC C. H. I. LTD NATURAL PRIME RESOURCES NIGERIA LTD NIPCO PLC YOBINAM LTD CHRISTONIAC (NIGERIA) LTD

INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES GASOIL LINEAR ALKYL BENZENE CKD DIESEL GENERATING SETS HOT ROLLED STEEL RAW MATERIAL ALUMINIUM PLAIN COILS BASE OIL SN 500/BASE OIL SN 900 JET FUEL AUTOMOTIVE GASOIL GASOIL GASOIL PSL HEINEKEN 600ML FRONT AND BACK ALUMINIUM ENDS CDL-SILVER TOTAL LUBRICANTS FRONT MAIN FES 450ML MEDICAL EQUIPMENTS HT XLPE CABLES RGB BOTTLING LINE FOR BEER FOOTWEAR,TOYS & HOUSEHOLD GOODS FOLDER ENVELOPE FOOTWEAR ,TOYS & LADIES ACCESSORIES GASOIL SHANTUI BULLDOZER RAW MATERIALS FRONT MAIN FES 450ML BACK MAIN CB1 COMBIBLOC LINEAR ALKYL BENZENE GASOIL SELF ADHESIVE PACKING TAPE WATER PUMPS

21-12-2017 2,000.00 22-12-2017 5,000.00 15-12-2017 84.70 15-12-2017 675.00 18-12-2017 602.50 22-12-2017 15,000.00 22-12-2017 4,648.84 22-12-2017 9,334.73 22-12-2017 20,000.00 22-12-2017 14,228.58 22-12-2017 16,631.64 22-12-2017 7,994.33 21-12-2017 2,565,000.00 18-12-2017 4,565,200.00 18-12-2017 4,565,200.00 20-12-2017 200,000.00 20-12-2017 355,031.40 20-12-2017 157,826.75 20-12-2017 78,435.34 20-12-2017 40,663.02 20-12-2017 69,083.10 20-12-2017 100,000.00 20-12-2017 71,295.71 20-12-2017 83,398.74 20-12-2017 12,704.29 20-12-2017 150,000.00 20-12-2017 100,000.00 20-12-2017 1,209.86 20-12-2017 109,027.22 20-12-2017 39,933.17 20-12-2017 5,000.00 20-12-2017 70,000.00 20-12-2017 20,000.00 20-12-2017 38,800.00

307.15 306.65 315.50 315.50 315.50 306.65 306.65 306.65 306.65 306.65 306.65 306.65 306.45 306.50 306.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50

USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318

GRAND CEREALS LTD SPL BUSINESS SOLUTIONS NIGERIA LTD PRUDENT ENERGY & SERVICES LTD GIVANAS INDUSTRY NIGERIA LTD ALLER AQUA NIGERIA LTD TOP-GEN POWER LTD EASTCHASE ALUMINIUM PRODUCTS LTD SOLTEC PRODUCTS TECHNOLOGIES LTD PEP STORES NIGERIA (PTY) LTD NECIT NIGERIA LTD JEZCO OIL NIGERIA LTD SAMON PETROLEUM LTD QATYFRRAL NIGERIA LTD PRUDENT ENERGY & SERVICES LTD UNIGROW INDUSTRIES LTD UNIGROW INDUSTRIES LTD GNLD INTERNATIONAL LTD GODWIN OKAFOR AND SONS INDUSTRIES LTD GREGIL INTERNATIONAL LTD ADIREJE (WEST AFRICA) LTD D2H SERVICES LTD D2H SERVICES LTD D2H SERVICES LTD FALCON CHEMICALS LTD EASTCHASE ALUMINIUM PRODUCTS LTD LEFAS PHARMACEUTICALS LTD AIPEC OIL AND GAS LTD JON-RIC AFRICA GENERAL SERVICES LTD WANDEL INTERNATIONAL (NIGERIA) LTD ASPEGO INVESTMENTS LTD AKU & SONS GLOBAL VENTURES LTD AKU & SONS GLOBAL VENTURES LTD NATURAL PRIME RESOURCES NIGERIA LTD COUSINS (NIGERIA) LTD

EXTRUDER PLANT FOR FLOATING FISH FEED ELECTRONICS GASOIL SODIUM SALT OF PALMITIC ACID ALLER CLARIA FLOAT CKD DIESEL GENERATING SETS RAW MATERIAL ALUMINIUM PLAIN COILS CLOTHING ACCESSORIES FOOTWEAR , TOYS & LADIES ACCESSORIES BASE OIL SN 900 BASE OIL SN 500/BASE OIL SN 900 DUAL PURPOSE KEROSINE STYRENE ACRYLIC COPOLYMER SA -52 GASOIL ETHYLENE TERETHALATE ETHYLENE TERETHALATE HEALTH PRODUCTS ESSENTIAL CHEMICAL DRIED SEA ANIMAL PROTEIN SUPPLIMENTS LIGHT FUEL OIL AGRICULTURAL GRINDING MILLS AGRICULTURAL GRINDING MILLS AGRICULTURAL GRINDING MILLS CARBOXY METHYL CELLULOSE RAW MATERIAL ALUMINIUM PLAIN COILS OLYSET NET 5,000 METRIC TONS OF JET FUEL PLAIN PAPER BOARD IN SHEETS MOTORIZED TRICYCLES IN CKD VOLTAGE REGULATOR 702 BAGS OF ANIMAL FEED 702 BAGS OF ANIMAL FEED SODIUM ALUMINOSILICATE PUBLIC ADDRESS SYSTEMS & EQUIPMENTS

20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017

3,953.55 34,009.00 282,402.74 60,935.49 80,900.00 3,718.20 4,410.06 21,505.92 2,601.26 4,000.00 5,000.00 60,000.00 11,991.00 7,708.33 24,009.00 11,055.51 40,000.00 18,000.00 189,609.04 30,243.52 24,000.00 27,210.96 15,100.00 20,452.01 80,000.00 28,945.00 5,000.00 20,000.00 120,053.55 20,000.00 28,789.04 34,390.96 50,000.00 10,000.00

333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50 333.50

USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

Returns on sources of funds sold to customers for the week ended 22nd December 2017 S/N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

SOURCE CENTRAL BANK OF NIGERIA CENTRAL BANK OF NIGERIA CENTRAL BANK OF NIGERIA CENTRAL BANK OF NIGERIA DIAMOND BANK PLC KEYSTONE BANK RAND MERCHANT BANK NIGERIA LTD OTHER SOURCE 6 OTHER SOURCE 6 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92

TRADE DATE 18-12-2017 18-12-2017 20-12-2017 20-12-2017 21-12-2017 21-12-2017 22-12-2017 21-12-2017 22-12-2017 18-12-2017 18-12-2017 18-12-2017 18-12-2017 18-12-2017 18-12-2017 18-12-2017 19-12-2017 19-12-2017 19-12-2017

RATE 357.00 357.00 333.00 333.00 306.65 306.15 306.15 306.20 315.00 314.50 314.50 314.50 314.50 314.50 355.00 355.00 355.00 355.00 314.50

AMOUNT 1,000,000.00 1,000,000.00 3,200,000.00 800,000.00 20,000.00 10,000.00 100,000.00 2,565,000.00 1,846.36 10,246.84 350.00 200.00 4.74 401.07 25,434.73 2,574.41 8,945.19 4,205.45 16,885.88

CCY USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37

OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 92 OTHER SOURCE 40 OTHER SOURCE 40 TOTAL AMOUNT IN USD AVERAGE

19-12-2017 19-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 20-12-2017 21-12-2017 21-12-2017 21-12-2017 21-12-2017 22-12-2017 22-12-2017 22-12-2017 22-12-2017 18-12-2017 18-12-2017

314.50 314.50 355.00 355.00 355.00 314.50 314.50 314.50 355.00 355.00 314.50 314.50 355.00 355.00 314.50 314.50 306.25 306.25

355.30 334.22 3,943.35 9,498.12 5,368.98 11.90 10,354.68 748.66 15,778.56 4,488.94 15,142.25 59.22 13,284.71 3,519.20 8,398.95 38.77 4,565,200.00 4,565,200.00 17,987,820.48 486,157.31

USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

40

MONDAY/TUESDAY DECEMBER 25-26, 2017 T H I S D AY

T H I S D AY MONDAY/TUESDAY DECEMBER 25-26, 2017

41

42

MONDAY/TUESDAY DECEMBER 25-26, 2017 T H I S D AY

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 22nd-DEC 2017 This publication: Mandated by the Central Bank of Nigeria (CBN)

BANK: ECOBANK NIGERIA LIMITED SN

CUSTOMER

ITEM OF IMPORT

1 2 3 4

ESSOR PETER ARCHIBONG AGUSTO INVESTMENTS LIMITED AFOLABI OLADIPO PETER OLUBODE-ADEGOKE OLUFUNMILOLA MODUPE-ORE NWAERI EDWIN U. NWAERI NNULI F. AGADA SAMPSON CHINWEWA OLAYINKA JOHN OLALEKAN AMAGADA EMAMUZO JENNIFER NNAJI EUCHARIA UKOMA AGBAZA ESTHER ARENAJIROGHENE NWABULUE UKAMAKA .A COLE NATHANIEL ETIBENSI UDEME BEN AKINNAGBE ERICSON OLAKUNLE EGHREROGHENE LUCKY MORRISON OKENWA JOY LIKINYO TOYIN AJOKE PRUDENT ENERGY AND SERVS. LTD STALLION NMN LIMITED

EDUCATION PURCHASE OF ELECTRONIC METAL DETECTOR DOORS BTA PTA BTA PTA

5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

21

STALLION NMN LIMITED

22

STALLION NMN LIMITED

23

ZAHAV AUTOMOBILE COY NIG LTD

24

VON AUTOMOBILE NIGERIA LIMITED

25

VON AUTOMOBILE NIGERIA LIMITED

26 27 28 29 30 31 32 33 34 35 36 37 38 39

CHIMA NWAFOR JOHN CHIEMERIE BAJOMO ADEOLU ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED SANNI MORUFU OLABODE CHUKWUJINDU RUTH TAIWO ADEWALE AYODEJI IBRAHIM MUHAMMAD USMAN DELALU OLUMIDE ALEXANDER EMMANUEL OKON NSA NMESI MAUDELINE NNENNA MR AND MRS ANYANWU LEONARD ANYANWU ALADENIKA FRANKLIN BISOLA ABIMBOLA ANYANWU NMA MARYLYN AKACHI GLOBAL VENTURES LIMITED MOVING FORWARD EVER INVESTMENTS COMPANY LIMITED DE MIKE COSMETICS LIMITED SUNNYPAS ASSOCIATES NIGERIA CHIUTO MARKETING COMPANY ZAKON GLOBAL LINKS LIMITED A.I MADUEKE AND CO. LIMITED VINHERO STANDARD VENTURES LIMITED NWOSU O ELIAS NIGERIA ENTERPRISES UMAR NAMADI GLOBAL ENTERPRISES MOZYK HAULAGE LIMITED AFFORDABLE ELECTRONICS LIMITED OJISON BEN INTERNATIONAL CO.LIMITED

40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95

ORGANIQUE BLENDS MANUFACTURING LIMITED SATAJANUS NIG LIMITED VICTORY NWAWUZIE INVESTMENT LIMITED SIX20 A HAUSA FILMS DISTRIBUTION AND MARKETING TOYA-SOY VENTURES NIG. LTD C DIS COMPANY NIG LTD CC DECO MARKETING COMPANY LIMITED VISA PETROLEUM RESOURCES LIMITED DE CAPITAL PAPA CHRISTO NIGERIA LIMITED ALEXTAR INTERNATIONAL LIMITED AJULUCHUKWU INTERNATIONAL E O INTERNATIONAL COMPANY LIMITED EMSUN ENTERPRISE G. EZEIKE AND BROTHERS ENT NIG C N CHRISTO MOTORS LIMITED PRISCA TIME ENTERPRISES IZUAMAKA INDUSTRIAL COMPANY LTD CHRISTAINCY MARKETING CO NIG LTD IDRIS THANK GOD VENTURES PEACE SKY ENTERPRISES ACIC GLOBAL BRAND LIMITED ITALO INTERNATIONAL COY. LTD. ADUMAT TECHNICAL COMPANY LIMITED MALONE INDUSTRIES LIMITED ONAMART INNOVENTION LIMITED VARLSCO TOOLS INTERNATIONAL LIMITED RAKIDOR INVESTMENT LIMITED BLESSED OKECHUKWU ACHUGBU IND LTD EBEX INTER LINKS COMPANY CAPORN INDUSTRIES LIMITED CICA CHEMICALS LIMITED EZEBONA ENTERPRISES NIG LTD HY-CHUMAC TRADING COMPANY LTD LAWGLORY VENTURES NIG E.U NWANKWO AND SONS ELECTRICAL ENTERPRISES STANCOTTER ENTERPRISES ELOKING INTEGRATED LIMITED JAVINCO INVESTMENT NIG LTD EMMA TENS INVESTMENT LIMITED KHADI HAUSA FILM MARKETING AND DIS CHYMEZ UNIQUE RESOURCES LIMITED

DATE OF EXCHANGE FUND RATE PURCHASE 18-Dec-17 360.00 18-Dec-17 362.00 18-Dec-17 360.00 18-Dec-17 360.00

BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA OFFSHORE CHARGES SKD KITS ( BY ESTABLISHED MV ASSEMBLES AND MANUFACTURES FOR NISSAN ALMERA - (SPEC CODE. BDUALGAN17EKA-D) (CC: 1.5L) (SEATING CAPACITY/ NUMBER OF SEATS: 5) (FUEL TYPE: PETROL) (BRAND: NISSAN) (FWD: 2WD) SKD KITS ( BY ESTABLISHED MV ASSEMBLES AND MANUFACTURES FOR NISSAN ALMERA - (SPEC CODE. BDUALGAN17EKA----D) (CC: 1.5L) (SEATING CAPACITY/ NUMBER OF SEATS: 5) (FUEL TYPE: PETROL) (BRAND: NISSAN) (FWD: 2WD) SKD KITS ( BY ESTABLISHED MV ASSEMBLES AND MANUFACTURES FOR NISSAN ALMERA - (SPEC CODE. BDUALGAN17EKA----D) (CC: 1.5L) (SEATING CAPACITY/ NUMBER OF SEATS: 5) (FUEL TYPE: PETROL) (BRAND: NISSAN) (FWD: 2WD) SKD KITS ( BY ESTABLISHED MV ASSEMBLES AND MANUFACTURES FOR CHANGAN CS35 - (SPEC CODE. SC7164B (E32AS1) ) (CC: 1.6L) (SEATING CAPACITY/ NUMBER OF SEATS:5 ) (FUEL TYPE: PETROL) (BRAND: CHANGAN) (FWD: 2WD) 10 UNITS OF BODY KIT FOR ASHOK LEYLAND FALCON BUS - (POL: ANY SEAPORT IN INDIA) 10 UNITS OF COUNTY BUS BODY CKD KITS - ( POL:ANY SEAPORT IN REPUBLIC OF SOUTH KOREA) MORTGAGE MORTGAGE PAYMENT FOR TRAINING PAYMENT FOR TRAINING PAYMENT FOR TRAINING PAYMENT FOR TRAINING EDUCATION EDUCATION EDUCATION EDUCATION EDUCATION EDUCATION EDUCATION EDUCATION

18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

AMOUNT

SN

CUSTOMER

ITEM OF IMPORT

1,669.42 100,896.07 700.00 4,000.00

96 97 98

MICH IRUOHA VENTURES ENTERPRISE KENNYFLEX VENTURES LIMITED BLOB RESOURCES

99 100 101 102 103 104 105 106 107 108 109 110 111 112 113

DAMO INTEGRATED RESOURCES LIMITED OWOLABI FOLASADE RACHEL OBAYOMI OLUWOLE OMOLOLU OBAYOMI ABOSEDE OLUFUNMILAYO POPOOLA ADERONKE OREDOLA AGUSIOBO GLORIA OLOHIGBE ETHIOPIAN AIRLINES ENTERPRISE ECOBANK TRANSNATIONAL INCORPORATED ECOBANK TRANSNATIONAL INCORPORATED OCP AFRICA FERTILIZERS NIG LTD SARO AGROSCIENCE LIMITED SARO AGROSCIENCE LIMITED BASE FLUID EXCHANGES LTD Air Cote d'Ivoire DANGOTE

114 115 116

A A RANO NIGERIA LTD PRUDENT ENERGY AND SERVICES LTD TOP STEEL NIGERIA LIMITED

117

TOP STEEL NIGERIA LIMITED

118

TOP STEEL NIGERIA LIMITED

119

TOP STEEL NIGERIA LIMITED

120

TOP STEEL NIGERIA LIMITED

121 122 123

CU-BAS INTERNATIONAL NIG LTD REGATTA INDUSTRIES LIMITED TOP STEEL NIGERIA LIMITED

124 125 126 127

CROWNSTAR COMMERCIAL INVEST NIG LTD RUPERT ROCK ALLIANCE LTD. FRANKENSTEIN INNOVATORS LIMITED TOP STEEL NIGERIA LIMITED

128 129

CU-BAS INTERNATIONAL NIG LTD REGAL CHEM NIGERIA LIMITED

130 131

CROWNSTAR COMMERCIAL INVEST NIG LTD REGAL CHEM NIGERIA LIMITED

132 133 134

BIMVENUS MULTIPURPOSE CONCEPT INTL FRANKENSTEIN INNOVATORS LIMITED VISTA INTERNATIONAL LIMITED

SPORTS EQUIPMENT UMBRELLA MEDICAL ULTRASOUND PRINT MEDIA (ULTRASOUND THERMAL PAPER) FARMING TOOLS BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA AIRLINE REMITTANCES CCI REPATRATION CCI REPATRATION DI-AMMONIUM PHOSPHATE (DAP) IN BULK AGRICULTURAL HERBICIDES: STRIKER AGRICULTURAL HERBICIDE: PARAQUAT FOR SLASHER BASE OIL AIRLINE REMITTANCE PAYMENT OF PRINCIPAL +INTEREST ON TRANCHE B TO FINANCE THE CONTRUCTION AND OR PURCHASE OF PROPERTY, PLANT & EQUIPMENT AND OTHER TANGIBLE ASSET FOR ASST FOR FERTIZER & OIL REFINERY TO PURCHASE PETROLEUM PRODUCTS IMPORTATION OF PETROLEUM PRODUCTS PLANT & MACHINERY AND EQUIPMENT FOR STEEL MELTING SHOP CONTINOUS CASTING MACHINE, 132/33 KV ELECTRIC SUBSTATION WITH PARTS & ROLLING MILL PLANT & MACHINERY AND EQUIPMENT FOR STEEL MELTING SHOP CONTINOUS CASTING MACHINE, 132/33 KV ELECTRIC SUBSTATION WITH PARTS & ROLLING MILL Plant & Machinery and Equipments for steel melting shop, continuous casting machine , 132/33 KV electric substationwith parts & rolling mill Plant & Machinery and Equipments for steel melting shop, continuous casting machine , 132/33 KV electric substation with parts & rolling mill "Plant & Machinery and Equipments for steel melting shop, continuous casting machine , 132/33 KV electric substation with parts & rolling mill” IMPORTATION OF AGRICULTURAL INSECTICIDES IMPORT OF INDUSTRIL RAW MATERIAL - XYLENE "Plant & Machinery and Equipments for steel melting shop, continuous casting machine , 132/33 KV electric substation with parts & rolling mill.” VACUUM FLASK PAYMENT FOR BILLS FOR GRANITE IMPORT OF ELECTRICAL AND ELECTRONIC EQUIPMENT "Plant & Machinery and Equipments for steel melting shop, continuous casting machine , 132/33 KV electric substation with parts & rolling mill.” IMPORTATION OF AGRICULTURAL INSECTICIDES IMPORT OF INDUSTRIAL RAW MATERIAL - POLYPROPYLENE RANDOM AGRICULTURAL SPRAYERS IMPORT OF INDUSTRIAL RAW MATERIAL - POLYPROPYLENE COPOLYMER INDUSTRIAL RAW MATERIAL:FLAT ROLLED ALLOY STEEL IMPORT OF ELECTRICAL AND ELECTRONIC EQUIPMENT INDUSTRIAL RAW MATERIAL FOR PRODUCTION OFEXERCISE BOOKS: RAW MATERIAL - AGRICULTURAL HERBICIDES - HER-018 PARAQUAT 20% SL 1L PARAEFORCE IMPORT OF INDUSTRIAL RAW MATERIAL - STYRENE ACRYLIC CO-POLYMER INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS: AGRICULTURAL HERBICIDES INDUSTRIAL RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS: INDUSTRIAL RAW MATERIALS - PETROLEUM JELLY (SNOW WHITE - PJP 170) RECEPTION ANTENNA, ECMG SERVER, ETHERNET SWITCH, INFLATOR, AIR CONDITIONER & OTHERS IMPORTATION OF TRICYCLES PARTS IMPORTATION OF MOTORCYCLE PARTS BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA

4,000.00 4,000.00 4,000.00 4,000.00 3,000.00 4,000.00 1,000.00 1,300.00 4,000.00 3,000.00 2,000.00 2,000.00 4,000.00 4,000.00 34,964.00 137,172.00

18-Dec-17

360.00

362.00

18-Dec-17

360.00

632,928.00

18-Dec-17

360.00

507,984.00

18-Dec-17

360.00

480.00

18-Dec-17

360.00

171,074.00

19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17

351.00 362.00 351.00 351.00 362.00 351.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

1,962.65 2,683.00 4,860.00 22,898.59 130,521.24 158,278.76 1,072.00 1,181.80 1,650.00 2,100.00 2,211.00 2,500.00 3,000.00 5,000.00

EDUCATION EDUCATION POLYESTER SEWING THREAD WATER PUMP

19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17

360.00 360.00 360.00 360.00

6,425.00 10,061.25 20,000.00 20,000.00

WATER PUMP UMBRELLA TWO CYCLE OIL AND LIGHT FUEL OIL SPORTS EQUIPMENT WALL PAPER DECORATIVE OIL FILTER UMBRELLA POLYSTER SEWING THREAD HARDWARES - ELECTRODSE, STOVES, TREATED NET CHEST FREEZERS (MODEL CLG320) ELECTRICAL ACCESSORIES SUCH AS COOKER RING,SOCKETS,LAMPHOLDER,SWITCH AND PATRESS BOX PACKAGING TUBES

19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00

19-Dec-17

360.00

3,842.00

WIRELESS TRANSCEIVER UMBRELLA SEWING MACHINE NEEDLES

19-Dec-17 19-Dec-17 19-Dec-17

360.00 360.00 360.00

378.11 20,000.00 20,000.00

DVR AND CCTV CAMERAS UMBRELLA UNCOATED KRAFT PAPER AND BOARD TWO CYCLE OIL AND LIGHT FUEL OIL AUTO SPARE PARTS CORNER LAMPS AUTO SPARE PARTS (CORNER LAMPS) TAILORING MATERIAL CABLES (KAMEL BRAND) UMBRELLA SPORTS EQUIPMENT MOTORCYCLE SPARE PARTS POULTRY INCUBATORS AND BROODERS MOTORCYCLE SPARE PARTS WALL PAPER DECORATIVE DISTRIBUTION BOARDS VIP,AND CHANGEOVER SWICTHES SPORTS EQUIPMENT SWITCHES (KNIFE BRAND) GENERATOR AND WATER PUMP POLYESTER SEWING THREAD GAS STOVE/COOKER UMBRELLA COMBINATION SPANNER/ RING SPANNER AUTO SPARE PARTS CORNER LAMPS SPORTS EQUIPMENT INDUSTRIAL SAFETY BOOT AUTO SPARE PARTS CORNER LAMPS CITRIC ACID ANHYDROUS & MONOHYDRATE GENERATOR AND WATER PUMP WALL PAPER DECORATIVE UMBRELLA 500 BAGS OF ANIMAL FEED PROTEIN SUPPLEMENT FOR FISH

19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 17,700.00 10,000.00 20,000.00 10,000.00 20,000.00 11,100.00 20,000.00 20,000.00 10,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 10,000.00 20,000.00 20,000.00 20,000.00 20,000.00 19,800.00 20,000.00 10,000.00 12,550.00 20,000.00

SPORTS EQUIPMENT AUTO SPARE PARTS CORNER LAMPS UMBRELLA POWDER COATED ALUMINUM PROFILE SEWING THREAD UMBRELLA

19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17

360.00 360.00 360.00 360.00 360.00 360.00

20,000.00 20,000.00 20,000.00 20,000.00 8,800.00 20,000.00

135

JUBAILI AGROTEC LIMITED

136

REGATTA INDUSTRIES LIMITED

137

VISTA INTERNATIONAL LIMITED

138 139

JUBAILI AGROTEC LIMITED VISTA INTERNATIONAL LIMITED

140

RAGI INDUSTRIES LIMITED

141

NTA STAR TV NETWORK LTD

142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178

AKI INTERNATIONAL LIMITED AKI INTERNATIONAL LIMITED OAMHEN FRANCIS OMOFOMA SOILE OLUTOLA OLANIYI BOB EFE UYEH ONWAH ELOHO FAVOUR OKOYE DIVINE TONY UWAKWE IKECHUKWU NNEJI JOYCE ONAFOWOKAN OVIAWE SAMUEL EGHOSA OBIESUN MAYOWA A OBEISUN OLOLADE E ADEYEMO OLAWUMI ANITA OMOLOLU AJIBADE BABATUNDE OMOLOLU ABOSEDE OPEWUNMI SALAU ISHOLA GANIYU LAWAL ISHOLA GANIYU AKEMU OLATUNDUN OLAYEMI OPIA CHRISTIAN JIDEOFOR YUSUF AMINA ISAH SALAUDEEN ABDULLATEEF MMAMEL ZITA UCHENNA ADEWOYE ABODUNRIN MICHEAL OBIEKWE NKECHI WILLIAMS ADEBAYO OLUBI ABIOLA SARAH OLUWADAMILOLA OWOLABI PETERS SAMUEL ABIODUN OLUBODE-ADEGOKE OLUFUNMILOLA MODUPE-ORE OLOWOOKORUN MARY OLUFUNKE ARIYIBI SAMUEL OLUSANYA ANEKWE NWABUNWANNE JOSEPH MODUPE PATIENCE OSHARODE OBADARE ABAYOMI JOHNSON OLUNAIKE ELIZABETH TORITSEJU SAGNA EMILE DARAJU INDUSTRIES LIMITED COLLECTI

179 180 181 182 183 184

QUALITY BUILDING CENTRE AND BUILDE AKI INTERNATIONAL LIMITED PRUDENT ENERGY AND SERVICES LTD PRUDENT ENERGY AND SERVICES LTD PRUDENT ENERGY AND SERVICES LTD PRUDENT ENERGY AND SERVICES LTD

BTA PTA EDUCATION EDUCATION EDUCATION EDUCATION EDUCATION PHR PLANTS AND MACHINERY - MACHINERY FOR EXERCISE BOOK MAKING MACHINES & COMPLETE PRINTING PLANT BUILDING MATERIALS IMPORTATION OF TRICYCLES PARTS OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES

DATE OF EXCHANGE FUND RATE PURCHASE 19-Dec-17 360.00 19-Dec-17 360.00 19-Dec-17 360.00

AMOUNT 20,000.00 20,000.00 1,060.00

19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17

360.00 360.00 360.00 360.00 360.00 360.00 331.50 315.00 327.52 331.50 331.50 331.50 331.50 331.50 331.50

5,000.00 1,500.00 4,000.00 4,000.00 4,000.00 800.00 500,000.00 120,302.32 7,380,521.40 100,000.00 112,918.75 298,400.00 500,000.00 500,000.00 1,500,000.00

20-Dec-17 20-Dec-17 20-Dec-17

331.50 331.50 331.50

1,000,000.00 3,950,643.57 3,280.00

20-Dec-17

331.50

3,330.00

20-Dec-17

331.50

4,900.00

20-Dec-17

331.50

7,000.00

20-Dec-17

331.50

7,880.00

20-Dec-17 20-Dec-17 20-Dec-17

331.50 331.50 331.50

17,825.08 18,000.00 19,280.00

20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17

331.50 331.50 331.50 331.50

19,925.00 20,000.00 23,933.30 27,040.00

20-Dec-17 20-Dec-17

331.50 331.50

28,620.00 35,000.00

20-Dec-17 20-Dec-17

331.50 331.50

38,878.35 42,670.00

20-Dec-17 20-Dec-17 20-Dec-17

331.50 331.50 331.50

51,830.15 70,752.90 94,303.81

20-Dec-17

331.50

148,220.14

20-Dec-17

331.50

166,380.00

20-Dec-17

331.50

184,284.04

20-Dec-17 20-Dec-17

331.50 331.50

217,100.00 222,660.91

20-Dec-17

331.50

232,612.03

20-Dec-17

331.50

294,294.29

20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17

315.00 315.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

1,830.15 398,100.00 3,997.67 2,683.00 2,012.25 939.05 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 2,750.00 3,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 1,000.00 3,000.00 4,000.00 4,000.00

20-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17

360.00 360.00 360.00 360.00 360.00 360.00 360.00 365.00

4,000.00 12,408.00 1,187.00 2,600.00 3,170.00 15,000.00 8,333.00 137,000.00

21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17

361.00 315.00 361.00 361.00 361.00 361.00

20,749.48 69.85 15,330.62 10,000.00 9,658.89 9,000.00

43

T H I S D AY MONDAY/TUESDAY DECEMBER 25-26, 2017

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 22nd-DEC 2017 This publication: Mandated by the Central Bank of Nigeria (CBN)

BANK: ECOBANK NIGERIA LIMITED SN

CUSTOMER

ITEM OF IMPORT

185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213

NORTHWEST PETROLEUM AND GAS CO LTD PRUDENT ENERGY AND SERVICES LTD ETCO NIGERIA LIMITED ECOBANK_ENG_LIMITED MANTRAC NIGERIA LIMITED SUBAYA METALWARE NIGERIA ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED OKIGBO LINDA NWANDO RENEE BENSON ISIGUZO CHUKWUEMEKA UDONYA ANNE AGHOGHOME OKERE KELECHI CHINONYEREM AKEEM ONIKOYI IYABO ADAYAT LOTUN BABAJIDE OLUWABUKOLA EKANEM EME AMY WILLIAMS FIYINFOLUWA AMELIA GAFAR MUKAILA BABATUNDE ESSIEN ISAAC JEREMIAH AKPABIO GRACE IMEH AKINTAYO ADESOJI ADEKUNLE GBOLAHAN ADEBOLA ADEKUNLE STELLAMARIS NGOZI EGONU SANDRA OGECHUKWU OLISA KENNETH C. OKERE OKPIABHELE ROLI HENRY HALLIDAY OGOCHUKWU ANULIKA NGIGE THLEMA PERPETUAL CHIKA UDO PAUL UMO DARAJU INDUSTRIES LIMITED COLLECTI

214 215

DARAJU INDUSTRIES LIMITED COLLECTI DARAJU INDUSTRIES LIMITED COLLECTI

216 217 218 219 220 221

RAHILA JAMES ZOKTI CHUKWURAH JUDITH EZIM AWONUGA OLUTAYO OLUBODUN DOUGLAS, TAYO AND YETUNDE (MR MRS) SARO AGROSCIENCE LIMITED JUBAILI AGROTEC LIMITED

222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267

DAG INDUSTRIES NIGERIA LTD DAG INDUSTRIES NIGERIA LTD ECOBANK_ENG_LIMITED A A RANO NIGERIA LTD BASE FLUID EXCHANGES LTD BASE FLUID EXCHANGES LTD ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED ECOBANK_ENG_LIMITED ENERGO NIGERIA LTD HYUNDAI MOTORS NIGERIA LIMITED HYUNDAI MOTORS NIGERIA LIMITED NORTHWEST PETROLEUM AND GAS CO LTD ROSA MYSTICA ENERGY LIMITED WANDEL INTERNATIONAL NIG LTD EKPA ISRAEL FRIDAY IDIOK ENO JESSY OMOREGIE GLORIA FAMORIYO OLUWAFEMI OPEYEMI MGBEOWULA NKECHI BENEDICTA REGHA DAVIDSON NAJOMO NWIZU EMMANUEL CHIDERA MOHAMMED SADATU OKOLIE ANDREW DEMOLA-ADENIYI MONSURAT OLUKOREDE OGUNYEMI ANTHONIA GBEMISOLA SEUN OSINEYE JANET ADEFOYEKE OWUMI ELOHOR JOSEPHINE ODUWOLE ADEBIMPE EKANEM-NESIAMA MERCY MBOM AKINSELI ADEWALE SANNI HAMMED AYODELE OLAOSEBIKAN EUNICE O ADE-OJO TOLULOPE ADEMOLA AGBOLAHAN MARIAM MOPELOLA AFUNDU EDITH IFEYINWA OWODUNNI ABDULRASHEED SARO AGROSCIENCES LIMITED SARO AGROSCIENCES LIMITED SARO AGROSCIENCES LIMITED ADIREJE WEST AFRICA LTD AMARILO PLASTICS LIMITED

268

272 273 274

BIMVENUS MULTIPURPOSE CONCEPT INTL LTD BOND CHEMICAL INDUSTRIES LTD CROWNPACK NIGERIA LIMITED CROWNSTAR COMMERCIAL INVESTMENT NIGERIA LTD EKO SUPREME RESOURCES NIGERIA LIMITED ETHIOPIAN AIRLINES ENTERPRISE FESTO AUTOMATION LTD

OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA COLLAPSIBLE LAMITUBE CONTAINER (DIA 25 XLEN 180) 100G HERBAL NON WOVEN PLANTS AND MACHINERY - MACHINERY FOR EXERCISE BOOK MAKING MACHINES & COMPLETE PRINTING PLANT EDUCATION EDUCATION EDUCATION EDUCATION AGRICULTURAL HERBICIDE RAW MATERIAL - AGRICULTURAL HERBICIDES - HER-018 PARAQUAT 20% SL 1L PARAEFORCE BAJAJ RE 4S 198.88CC AUTORICKSHAW IN CKD PACKED CONDITION BAJAJ RE 4S 198.88CC AUTORICKSHAW IN CKD PACKED CONDITION OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES OFFSHORE CHARGES BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA BTA PTA AGRICULTURAL HERBICIDES: STRIKER AGRICULTURAL HERBICIDE Agricultural Herbicides: ATRAZINE 1L / ATRAZINE 1KG IMPORTATION OF ENGINE OIL RAW MATERIAL IMPORT OF 32,000 TONS OF DIOCTYL PHTHALATE (DOP) NEW CARLEO BRAND TRUCK WHEELS

275

FINE CHEMICALS NIGERIA LIMITED

276

FLOUR MILLS OF NIG PLC

277 278 279 280 281 282

FRANKENSTEIN INNOVATORS LIMITED GENEITH PHARMACEUTICALS LIMITED GOJAC MERCHANT INTL CO. LTD. GUBABI AND COMPANY LIMITED AKI INTERNATIONAL LIMITED INFINITY TYRES LIMITED

283 284

IRON PRODUCTS INDUSTRIES LIMITED JUBAILI BROS NIGERIA LIMITED

285 286

JUST SUPPLIES AND PACKAGING LTD KEDILASO INTERNATIONAL LIMITED

269 270 271

DATE OF EXCHANGE FUND RATE PURCHASE 21-Dec-17 361.00 21-Dec-17 361.00 21-Dec-17 361.00 21-Dec-17 361.00 21-Dec-17 361.00 21-Dec-17 361.00 21-Dec-17 361.00 21-Dec-17 361.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 21-Dec-17 360.00 22-Dec-17 365.00

AMOUNT

SN

CUSTOMER

4,779.86 2,536.00 913.70 421.64 389.53 350.80 50.05 50.01 3,998.41 3,997.67 4,000.00 3,400.00 3,000.00 2,950.00 1,000.00 4,000.00 4,000.00 2,770.00 4,000.00 1,000.00 4,000.00 4,000.00 1,000.00 4,000.00 1,000.00 4,000.00 4,000.00 4,000.00 23,637.90

287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303

KEPL EPC NIGERIA LTD KHS MACHINES NIGERIA LIMITED KHS MACHINES NIGERIA LIMITED KHS MACHINES NIGERIA LIMITED KHS MACHINES NIGERIA LIMITED KRISHAT PHARMA INDUSTRIES LIMITED KRISHAT PHARMA INDUSTRIES LIMITED MULTICHEM INDUSTRIES LTD ACCT 3 MULTICHEM INDUSTRIES LTD ACCT 3 MULTICHEM INDUSTRIES LTD ACCT 3 MULTICHEM INDUSTRIES LTD ACCT 3 MULTICHEM INDUSTRIES LTD ACCT 3 NATURAL PRIME RESOURCES NIGERIA LTD NISALE IND LTD LC OPERATING ACCT OBOTICA INDUSTRIAL LTD POWERLINK BUSINESS ENTERPRISES LTD RAGI INDUSTRIES LIMITED

22-Dec-17 22-Dec-17

365.00 365.00

25,215.21 190,146.89

22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17

360.00 360.00 360.00 360.00 331.50 331.50

1,877.00 3,646.50 4,000.70 4,023.30 2,337.68 35,700.00

22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17

315.00 315.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 330.50 330.50 330.50 331.50 331.50

119,929.00 296,630.00 1.29 1,738.99 5,324.14 6,805.35 10.33 39.79 39.79 72.58 232.40 437.14 1,054.04 72.03 834.00 2,753.00 2,657.81 671.13 63.98 3,352.75 3,352.75 2,682.20 4,000.00 4,000.00 4,000.00 4,000.00 2,500.00 3,998.41 4,000.00 4,000.00 4,000.00 4,000.00 1,000.00 4,000.00 4,000.00 700.00 800.00 4,000.00 1,000.00 4,000.00 4,000.00 700,000.00 350,000.00 200,000.00 8,000.00 4,000.00

22-Dec-17

331.50

7,000.00

IMPORTATION OF PHARMACEUTICAL RAW MATERIALS PAPER REELS PAPER BOARD/SHEETS

22-Dec-17 22-Dec-17 22-Dec-17

331.50 331.50 331.50

30,000.00 22,290.02 60,000.00

RAW MATERIALS AIRLINE REMITTANCE

22-Dec-17 22-Dec-17 22-Dec-17

331.50 332.00 331.50

90,000.00 100,000.00 10,000.00

RAW MATERIALS FOR INDUSTRIAL USE: KETONIC RESIN ABC 100 QTY 4000 KG, PIGMENT BLUE 15:4 QTY 2000KGS, ADDITIVE 101 QTY 5600KGS, ALKYD RESIN ABC 4008 QTY 2400KGS AND DEG QTY 920KGS 16,000M/TONS OF RUSSIAN MILLING WHEAT WIHT MINIMUM PROTEIN OF 12.5% IN BULK IMPORT OF ELECTRICAL AND ELECTONIC EQUIPMENT IMPORTATION OF PHARMACEUTICAL PRODUCTS FOR PAYMENT ON BC FOR THE IMPORTATION OF STEEL DOORS GUBABI RE-INFORCED FIRE RESISTANT SAFES. IMPORTATION OF TRICYCLE EASTMAN BRAND MACHINERY FOR THE STOARGE AND REPODUCTION OF ELECTRIC CURRENT INVERTERS RAW MATERIAL FOR MANUFACTURING HOT ROLLED STEEL: BEAMS PERKINS ENGINE 2206A-E13TAG2 (350KVA) FOR GENERATOR ASSEMBLY IMPORTATION OF MACHINERY WASHING MACHINE & NYLON SEALER

22-Dec-17

332.00

10,000.00

22-Dec-17

331.00

200,000.00

22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17

331.50 331.50 331.50 331.50 331.50 331.50

23,821.92 20,000.00 30,000.00 20,000.00 45,000.00 10,000.00

22-Dec-17 22-Dec-17

331.50 331.50

37,000.00 60,000.00

22-Dec-17 22-Dec-17

331.50 331.50

10,000.00 10,000.00

304 305 306 307 308 309 310 311 312

ITEM OF IMPORT

PAYMENT FOR THE SHIPPMENT OF PLANT AND MACHINERY Spare Parts for Filling and Bottling Machines SPARES FOR FILLING AND BOTTLING MACHINES SPARES FOR FILLING AND BOTTLING MACHINES SPARE PARTS FOR BOTTLING AND PACKAGING PHARMACEUTICAL RAW MATERIAL - PARACETAMOL POWDER MATERIALS AND MACHINERY" CAUSTIC SODA - INDUSTRIAL RAW MATERIAL INDUSTRIAL RAW MATERIALS - CORN STARCH INDUSTRIAL RAW MATERIALS - SORBITOL 70% BP GRADE” INDUSTRIAL RAW MATERIALS - SORBITOL 70% BP GRADE" “INDUSTRIAL RAW MATERIALS - HYDROGEN PEROXIDE 50%” SODIUM TRIPOLYPHOSPHATE FOR IMPORTATION OF RAW MATERIALS SPARE PARTS FOR ELECTRICAL EQUIPMENTS IMPORTATION OF NEW PORTABLE GASOLINE GENERATOR MACHINERY FOR THE STORAGE AND REPRODUCTION OF ELECTRIC CURRENT FROM SOLAR ENERGY (SOLAR PANEL SETS) Regal Chem Industries IMPORT OF INDUSTRIAL RAW MATERIAL Regal Chem Industries IMPORT OF INDUSTRIAL RAW MATERIAL Regatta Industries Ltd IMPORT OF INDUSTRIAL RAW MATERIAL - PETROLEUM JELLY ROMBIC CONCEPTS LIMITED IMPORTATION OF VARIOUS EDUCATIONAL & ACADEMIC TEXTBOOKS SABA STEEL INDUSTRIAL LIMITED ACCOUNT 2 RAW MATERIAL FOR MANUFACTURING HOT ROLLED STEEL SEASONS TRADING SERVICES LIMITED IMPORTATION OF NEW PORTABLE AGRICULTURAL WATER PUMP STARLINE NIGERIA LIMITED FOR PURCHASE OF INDUSTRIAL MATERIALS TOMBO INDUSTRIES LIMITED TO IMPORT CHEMICALS FOR INDUSTRIAL MANUFACTURING WANDEL INT'L NIG LTD TVS STAR HLX 100CC KS (AGD) MOTORCYCLES IN CKD. ENGINE TYPE:4 STROKE PETROL VERSION, ENGINE CAPACITY 100CC

DATE OF EXCHANGE FUND RATE PURCHASE 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 331.50 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17

331.50 331.50 331.50 331.50 331.50 331.50 331.50 331.50 331.50

AMOUNT 30,000.00 17,623.49 11,712.52 11,712.52 11,688.52 53,000.00 49,400.00 221,008.50 234,330.00 53,223.94 40,831.20 27,220.64 300,000.00 71,000.00 27,000.00 10,000.00 130,000.00 106,920.00 40,000.00 214,500.00 10,000.00 45,000.00 70,000.00 10,000.00 25,000.00 30,000.00

RETURNS ON SOURCES OF FUNDS PURCHASED FROM CUSTOMERS FOR THE WEEK ENDED FRIDAY 22ND-DEC 2017 SN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

SOURCE OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK INTERBANK OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK INTERBANK CENTRAL BANK OF NIGERIA CENTRAL BANK OF NIGERIA OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS CENTRAL BANK OF NIGERIA OTHERS OTHERS OTHERS OTHERS OTHERS CENTRAL BANK OF NIGERIA OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS CENTRAL BANK OF NIGERIA CENTRAL BANK OF NIGERIA TOTAL AMOUNT AVERAGE AMOUNT

DATE OF FUND PURCHASE 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 18-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 19-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 20-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 21-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17 22-Dec-17

EXCHANGE RATE 306.25 356.00 356.00 306.11 306.25 306.25 360.08 314.50 361.00 356.00 356.01 359.50 345.00 305.25 359.00 355.00 355.00 355.00 355.00 355.00 355.00 353.84 355.00 355.00 355.00 355.00 356.00 356.00 361.00 306.20 357.00 357.00 350.00 355.00 355.00 356.00 356.00 306.20 331.00 306.25 306.25 360.00 305.20 315.00 331.00 356.00 356.00 306.27 306.15 306.15 364.00 356.00 356.00 306.15 315.00 359.00 306.15 356.00 356.00 306.15 360.29 364.00 345.00 342.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 330.00 330.98

AMOUNT 72,590.50 268,753.89 1,109.37 3,805.81 569,482.73 199,427.43 4,098.19 400,000.00 100,896.07 64,580.88 222.03 1,450,000.00 500,000.00 28,373.87 34,964.00 115,451.72 101,673.10 99,189.04 95,672.91 85,094.54 82,454.93 37,496.63 32,229.81 27,719.27 26,365.11 14,457.90 264,475.53 1,020.83 133,204.24 5,000.00 1,000,000.00 1,000,000.00 188,000.00 80,106.41 72,780.07 239,647.37 931.19 116,437.18 8,000,000.00 9,285,000.00 8,559,750.00 100,000.00 40,000.00 10,000.00 2,000,000.00 255,645.30 1,059.73 15,557.20 113,895.64 807,876.17 137,000.00 706.27 34.59 100,000.00 150,000.00 111,960.96 81,059.16 361,071.37 1,273.52 210,979.12 9,795.49 239,000.00 500,000.00 100,330.00 142,958.35 101,415.18 38,747.93 20,287.28 17,593.95 16,608.70 12,275.37 201,403.73 163,508.62 126,152.29 101,075.01 98,126.57 94,282.54 90,932.32 85,948.41 80,779.92 76,652.54 64,032.80 63,690.89 1,250,000.00 2,658,283.27 44,214,462.72 520,170.15

44

MONDAY/TUESDAY DECEMBER 25-26, 2017 T H I S D AY

1

WESTERN UNION SALE TO CBN

SALE TO CBN

18/12/2017

357.00

92,626.81

77

CLASSIC SOAP INDUSTRIES NIGERIA

16,000 KGS OF MIXTURE OF ODORIFEROUS SUBSTANCE-PEPPERMINT CU RED AND HERBAL

20/12/2017

335.50

100,000.00

2

MONEYGRAM SALE TO CBN

SALE TO CBN

18/12/2017

357.00

123,774.39

78

SPRINGFIELD AGRO LIMITED

296.250MT OF TDI (250KG) TOLUENE DIISOCYANATE 80/20 (GRADE: COSMONATE T-80)

20/12/2017

335.50

327,567.80

3

RIA SALE TO CBN

SALE TO CBN

18/12/2017

357.00

41,343.88

79

SONNEX PACKAGING NIG LTD

4300MT OF JETA-1

20/12/2017

335.50

43,984.36

4

OTOWO ALACHE

PTA

18/12/2017

360.00

4,000.00

80

PETROCAM TRADING NIGERIA LIMITED

5,000MT (+/-10PCT) GASOIL

20/12/2017

335.50

250,000.00

5

UKADIKE CHIFUM ANN

PTA

18/12/2017

360.00

4,000.00

81

BHOJRAJ INDUSTRIES PLC

50,000 KGS PET FILM

20/12/2017

335.50

90,080.34

6

PARAMOLE KABIR OLAWALE

PTA

18/12/2017

360.00

4,000.00

82

DEERFIELD PETROLEUM RESOURCES

5000 METRIC TONS OF ATK (-/+5 PERCENT)

20/12/2017

335.50

100,000.00

7

SHONEYE KENNETH ADEBOYE

PTA

18/12/2017

360.00

4,000.00

83

DE UNITED FOODS INDUSTRIES LTD

5000 MT(+/-10 PERCENT) OF US NO2 HARD RED WINTER WHEAT 12 PCT PRO

20/12/2017

335.50

100,000.00

8

VEE-TEK NIG LTD

BTA

18/12/2017

360.00

5,000.00

84

NATURAL PRIME RESOURCES NIG

50MT ACUTEX, 2MT TINOPAL CBS-X (OB), 8.95MT OF ODORIFEROUS SUBSTANCE, 110MT OF SODIUM CARBONATEZYME)

20/12/2017

335.50

125,000.00

9

GILBERT ETHEL CEE

PTA

18/12/2017

360.00

4,000.00

85

SAMBOOKA FERTILIZERS LTD

7,000 MT OF NO. 2 YELLOW CORN OR BETTER, IN BULK

20/12/2017

335.50

100,000.00

10

GILBERT CEE CEE CHUKWUMAEZE

PTA

18/12/2017

360.00

4,000.00

86

TULCAN ENERGY RESOURCES LTD

8,000 MT OF JET AI (+/- 10 PCT)

20/12/2017

335.50

400,000.00

11

EMMANUEL AVIELELE

PTA

18/12/2017

360.00

3,000.00

87

HAQQBARR GLOBAL LTD

80 MT OF UNCOATED WOODFREE PAPER IN SHEETS (RAW MATERIAL FOR EXERCISE BOOK PRODUCTION)

20/12/2017

335.50

55,210.44

12

KECHICHA TATIOS

BTA

18/12/2017

360.00

5,000.00

88

HAQQBARR GLOBAL LTD

95 MT UNCOATED WOODFREE PAPER IN SHEETS(RAW MATERIAL FOR EXERCISE BOOK PRODUCTION)

20/12/2017

335.50

44,789.56

13

MOSINDI ANSLEM CHIJOKE

BTA

18/12/2017

360.00

5,000.00

89

HAQQBARR GLOBAL LTD

PAPER BOARD IN SHEETS (RAW MATERIAL FOR BOOK PRODUCTION)

20/12/2017

307.25

17,371.92

14

JULIET TAMUNO-KOKO

PTA

18/12/2017

360.00

300.00

90

MODEL STEEL

RAW MATERIAL FOR MANUFACTURING OF HOT ROLLED STEEL

20/12/2017

335.50

100,000.00

15

IMOHE ENARUNA EWASINA AMB

PTA

18/12/2017

360.00

4,000.00

91

SPECIALTY DRILLING FLUIDS LTD

SERVICE CHARGE FOR REPAIR OF MACHINERY AND EQUIPMENT (RIG SDFBR301) IN NIGERIA

20/12/2017

335.50

503,197.20

16

IMOHE PHILOMENA ONAIGHIRAE MRS

PTA

18/12/2017

360.00

4,000.00

92

BIRMA IBRAHIM

PAYMENT OF SCHOOL FEES

20/12/2017

360.00

3,045.00

17

AJAYI-OBE LYDIA AYOOLA (GBP2,950.00)

PTA

18/12/2017

360.00

3,744.75

93

OKEMUE LETICIA

PAYMENT OF SCHOOL FEES

20/12/2017

360.00

7,045.00

18

CHARLES OMELAZU

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

9,356.76

94

ALOWOLODU ADE AUGUSTINE

PAYMENT OF SCHOOL FEES

20/12/2017

360.00

418.00

19

OGENYI FIDELIS OGBONNA

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

3,963.00

95

ADIBE JUSTINA EZINWAMA

PAYMENT OF SCHOOL FEES

20/12/2017

360.00

545.00

20

KUMOKOU EBIDE

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

3,798.00

96

YAKUBU AMINU

PAYMENT OF SCHOOL FEES

20/12/2017

360.00

2,995.00

21

EMMANUEL N ONWUBUYA

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

7,854.00

97

KANU PEARL

PAYMENT OF SCHOOL FEES

20/12/2017

360.00

2,045.00

22

ISAH ISYAKU

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

982.70

98

DUOPAMA- OBOMANU ABIGAIL (GBP10,872.00)

PAYMENT OF SCHOOL FEES

20/12/2017

360.00

14,494.52

23

AKINOLA ADE PETER

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

3,258.60

99

WEST AFRICAN TOBACCO

DIRECTOR`S FE

20/12/2017

335.50

46,200.00

24

FAGUN ALABA OMOWUNMI

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

3,411.11

100

GAVIN JAMES STEWART

PERSONAL HOME REMITTANCE

20/12/2017

335.50

24,700.00

25

FAGUN ALABA OMOWUNMI

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

12,545.00

101

GAVIN JAMES STEWART

PERSONAL HOME REMITTANCE

20/12/2017

335.50

10,472.69

26

ANORIO EVA CHIGOZIE

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

745.00

102

SANJEEV RAJ KAPOOR

PERSONAL HOME REMITTANCE

20/12/2017

335.50

58,425.00

27

OCHIM COMFORT ENEYI (EUR1,050.00)

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

1,175.38

103

AFRICAN STEEL MILLS LIMITED

DIVIDEND PAYMENT

20/12/2017

335.50

646,000.00

28

NWAMOH OKEY IYKE (GBP7,140.00)

PAYMENT OF SCHOOL FEES

18/12/2017

360.00

9,063.56

104

KEPCO RESOURCES

INTEREST PAYMENTS

20/12/2017

335.50

1,090,559.17

29

OBISESAN ABAYOMI AJIBADE

PTA

19/12/2017

360.00

2,500.00

105

ADENUGBA AYODELE OLUWATOSIN TAIWO

PTA

20/12/2017

360.00

4,000.00

30

OGBONNA PATIENCE CHIGOZIE

PTA

19/12/2017

360.00

1,300.00

106

ASHAMU OYETUNJI YISA

PTA

20/12/2017

360.00

1,000.00

31

LEAH ONIREWAJU HAMBOLU

PTA

19/12/2017

360.00

1,000.00

107

PHILOMENA AWOSIKA

PTA

20/12/2017

360.00

4,000.00

32

OGUNTUWASE OLUSEGUN

PTA

19/12/2017

360.00

3,500.00

108

KOLADE SIMEONO

PTA

20/12/2017

360.00

900.00

33

EGONMWAN EDOLEYI ANDREW

PTA

19/12/2017

360.00

4,000.00

109

BOLAKALE OLAIDE AJOKE

PTA

20/12/2017

360.00

277.00

34

OKAFOR EMEKA FELIX

PTA

19/12/2017

360.00

4,000.00

110

ADESIDA FATIMA BINTA

PTA

20/12/2017

360.00

930.00

35

ABAYOMI SHUKURA ADEDAYO

PTA

19/12/2017

360.00

4,000.00

111

WESTERN UNION

SALE TO CBN

20/12/2017

357.00

144,149.39

36

SOYINGBE KIKELOMO OLUWASEUN

PTA

19/12/2017

360.00

4,000.00

112

MONEYGRAM

SALE TO CBN

20/12/2017

357.00

198,190.30

37

HASSAN OMOWARERE MUSIBAU

PTA

19/12/2017

360.00

4,000.00

113

RIA

SALE TO CBN

20/12/2017

357.00

43,798.62

38

AKPA JUSTINA NGOZI

PTA

19/12/2017

360.00

1,200.00

114

SMALL WORLD

SALE TO CBN

20/12/2017

357.00

5,870.00

39

AISHA BALOGUN

PTA

19/12/2017

360.00

4,000.00

115

URU INDUSTRIES LTD

SME FUNDS

20/12/2017

360.00

6,000.00

40

ADIMORA GLOBAL SERVICES LTD

SME FUNDS

19/12/2017

360.00

20,000.00

116

GIFTED KENNY LINKS MOTORS LTD

SME FUNDS

20/12/2017

360.00

10,000.00

41

MAXENG MERCHANDISE CO ENT

SME FUNDS

19/12/2017

360.00

20,000.00

117

MANOMA INTEGRATED LINKS LTD

SME FUNDS

20/12/2017

360.00

20,000.00

42

DON LIQUID ENETERPRISES

SME FUNDS

19/12/2017

360.00

20,000.00

118

BIMRAJ NIG LTD

SME FUNDS

20/12/2017

360.00

20,000.00

43

IFEORIZU VENTURES NIGERIA LTD

SME FUNDS

19/12/2017

360.00

20,000.00

119

HIGHLIFE RUBBER PRODUCTS LTD

SME FUNDS

20/12/2017

360.00

20,000.00

44

SAINT SUNNY VENTURES

SME FUNDS

19/12/2017

360.00

20,000.00

120

CHINA NA ABA INT L

SME FUNDS

20/12/2017

360.00

20,000.00

45

URU INDUSTRIES LTD

SME FUNDS

19/12/2017

360.00

14,000.00

121

KRISTESSY TECHNICAL SERVICES

SME FUNDS

20/12/2017

360.00

2,024.00

46

AYODEJI OLAKANMI

PAYMENT OF SCHOOL FEES

19/12/2017

360.00

15,000.00

122

RITZANO GLOBAL AGENCY

SME FUNDS

20/12/2017

360.00

20,000.00

47

ADEBAYO SOLA WAHEED

PAYMENT OF SCHOOL FEES

19/12/2017

360.00

15,000.00

123

EM-AL SWIMMING POOL VENTURES

SME FUNDS

20/12/2017

360.00

19,800.00

48

FAJEMBOLA OLADIPO OLUSEYI

PAYMENT OF SCHOOL FEES

19/12/2017

360.00

12,545.00

124

ANOCHEMICAL COSMETICS INDUSTRIAL LTD

SME FUNDS

20/12/2017

360.00

12,176.00

49

ONWUSORO HENRY KALU

PAYMENT OF SCHOOL FEES

19/12/2017

360.00

5,993.45

125

VITAL PRODUCTS PLC

SAFETY MATCHES (RED PHOSPHORUS)

21/12/2017

335.50

24,471.97

50

UNION TRUSTEES LIMITED

PAYMENT OF SCHOOL FEES

19/12/2017

360.00

9,540.00

126

VITAL PRODUCTS PLC

SAFETY MATCHES (RED PHOSPHORUS) VITALI BRAND

21/12/2017

335.50

24,340.64

51

ISIAVWE DAVID

LIVING EXPENSES

19/12/2017

360.00

1,000.00

127

VITAL PRODUCTS PLC

SAFETY MATCHES (RED PHOSPHORUS)

21/12/2017

335.50

24,303.71

52

AKPAN ANIETE OKON (CAD11,389.30)

PAYMENT OF SCHOOL FEES

19/12/2017

360.00

8,798.09

128

VITAL PRODUCTS PLC

SAFETY MATCHES (RED PHOSPHORUS)

21/12/2017

335.50

24,482.58

53

TSOKWA EZEKIEL NAFINJI (EUR1,050.00)

PAYMENT OF SCHOOL FEES

19/12/2017

360.00

1,235.02

129

GIVANAS.

SODIUM SALT OF PALMITIC ACID FOR INDUSTRIAL USE

21/12/2017

335.50

200,000.00

54

ISIAVWE DAVID(GBP741.00)

LIVING EXPENSES

19/12/2017

360.00

985.62

130

ABIOLA PUBLISHING LIMITED

THERMAL PAPER

21/12/2017

335.50

9,000.00

55

WESTERN UNION

SALE TO CBN

19/12/2017

357.00

218,576.65

131

SKG PHARMA LTD

PHARMACEUTICAL MACHINES AND OTHER MATERIALS

21/12/2017

335.50

17,665.00

56

MONEYGRAM

SALE TO CBN

19/12/2017

357.00

137,972.93

132

TRANOS CONTRACTING LTD (EUR52.45)

DEHUMIDIFYING DRYERS AND HOPPER LOADERS

21/12/2017

335.50

62.43

57

MONEYGRAM

SALE TO CBN

19/12/2017

357.00

160,581.73

133

FEMINA HYGENICAL PRODUCTS NIG LTD (GBP2,523.00)

ESSENTIAL RAW MATERIAL

21/12/2017

335.50

3,359.24

58

RIA

SALE TO CBN

19/12/2017

357.00

74,860.18

134

EDIC CHEMICAL AND ALLIED

PHARMACEUTICAL PRODUCT

21/12/2017

335.50

123,786.00

59

ABIOLA PUBLISHING LIMITED

THERMAL PAPER

20/12/2017

335.50

13,800.00

135

BASE FLUID EXCHANGE LIMITED

3500MT OF BASE OIL SN 900

21/12/2017

335.50

250,000.00

60

AFRICA CONTINENTAL GBF TRADING NIG LIMITED

BAMA AND JAGO MAYONNAISE

20/12/2017

335.50

57,396.00

136

NIGERIAN BREWERIES PLC (EUR84,011.94)

4500 TONS OF C-MALT C6 IN BULK

21/12/2017

335.50

100,000.00

61

AFRICA CONTINENTAL GBF TRADING NIG LIMITED

BAMA AND JAGO MAYONNAISE

20/12/2017

335.50

56,000.00

137

HAQQBARR GLOBAL LTD

80 MT OF UNCOATED WOODFREE PAPER IN SHEETS (RAW MATERIAL FOR EXERCISE BOOK PRODUCTION)

21/12/2017

307.25

9,125.31

62

AFRICA CONTINENTAL GBF TRADING NIG LIMITED

JAGO MAYONNAISE

20/12/2017

335.50

30,580.20

138

MIDDLE POINT NIG LTD

ARNOLD AUTOMOTIVE BATTERIES

21/12/2017

335.50

50,000.00

63

DEELITE NIGERIA LIMITED

FOSTER CLARK CULINARY ESSENCE, BANANA PINEAPPLE

20/12/2017

335.50

52,000.00

139

EMENITE (EUR42,005.97)

CONSUMABLES, EQUIPMENTS AND VARIOUS ACCESSORIES FOR INDUSTRIAL USE

21/12/2017

335.50

50,000.00

64

HOLDENT INTERNATIONAL LIMITED

INDUSTRIAL RAW MATERIALS

20/12/2017

335.50

36,200.00

140

MIDDLE POINT NIG LTD

SOLITE AUTOMOTIVE BATTERIES

21/12/2017

335.50

150,000.00

65

PORCELANOSA NIG LTD

VARIOUS ITEMS AS PER PFI

20/12/2017

335.50

118,000.00

141

WEST AFRICAN TOBACCO

DIRECTOR'S FEE

21/12/2017

335.50

2,666.60

66

RENUKANA NIGERIA LIMITED

PIGMENT PREPARATIONS

20/12/2017

335.50

15,000.00

142

GAVIN JAMES STEWART

PERSONAL HOME REMITTANCE

21/12/2017

335.50

9,700.00

67

UNIGROW INDUSTRIES LIMITED

TOLUENE

20/12/2017

335.50

76,400.00

143

GAVIN JAMES STEWART

PERSONAL HOME REMITTANCE

21/12/2017

335.50

12,194.20

68

ANIMAL CARE SERVICES KONSULT NIG LTD

FEED SUPPLEMENT

20/12/2017

335.50

40,137.20

144

GAVIN JAMES STEWART

PERSONAL HOME REMITTANCE

21/12/2017

335.50

58,425.00

69

CROWNSTAR COMMERCIAL INVESTMENT NIGERIA

RAW MATERIAL FOR EXERCISE BOOK PRODUCTION

20/12/2017

335.50

111,225.01

145

SANJEEV RAJ KAPOOR

PERSONAL HOME REMITTANCE

21/12/2017

335.50

23,312.73

70

PRUDENT ENERGY AND SERVICE

10,000 MT(+/- 10 PERCENT) JET DEFSTAN

20/12/2017

335.50

250,000.00

146

SANJEEV RAJ KAPOOR

PERSONAL HOME REMITTANCE

21/12/2017

335.50

9,700.00

71

HAQQBARR GLOBAL LTD

100 MT OF PLAIN PAPER BOARD IN SHEETS (RAW MATERIAL FOR EXERCISE BOOK PRODUCTION)

20/12/2017

307.25

73,502.77

147

SANJEEV RAJ KAPOOR

PERSONAL HOME REMITTANCE

21/12/2017

335.50

2,666.90

72

STALLIONAIRE NIG LTD

10000 MT GASOIL

20/12/2017

335.50

250,000.00

148

RICHARD JOHNSON

PERSONAL HOME REMITTANCE

21/12/2017

335.50

19,450.00

73

FLOUR MILLS OF NIGERIA PLC

12000 METRIC TONS OF U.S NO 2 OR BETTER HERD RED WINTER WHEAT WITH MINIMUM PROTEIN OF 11.5 PERCENT IN BULK

20/12/2017

335.50

500,000.00

149

GUPTA BIRENDRA KUMAR

PERSONAL HOME REMITTANCE

21/12/2017

335.50

1,682.26

74

EKO SUPREME RESOURCES NIGERIA LTD

15 MT OF ACUTEX, 1 MT OF TINOPAL CBS-X (OB),39 MT OF SODIUM CARBONATE(DENS) AND 5 MT SPECKLES

20/12/2017

335.50

53,429.00

150

GUPTA BIRENDRA KUMAR

PERSONAL HOME REMITTANCE

21/12/2017

335.50

4,969.53

75

MATRIX ENERGY LTD

15,000 MT (-/+ 10 PCT) OF GAS OIL

20/12/2017

335.50

1,250,000.00

151

MARGARITA BAGSICAN

PERSONAL HOME REMITTANCE

21/12/2017

335.50

1,500.00

76

SPRINGFIELD AGRO LIMITED

158400KGS COTRAZINE (ATRAZINE 80% WP - AGRICULTURAL HERBICIDE)

20/12/2017

335.50

522,720.00

152

MARGARITA BAGSICAN

PERSONAL HOME REMITTANCE

21/12/2017

335.50

1,400.00

45

T H I S D AY MONDAY/TUESDAY DECEMBER 25-26, 2017

153

GEORGES ABOUCHAKRA

PERSONAL HOME REMITTANCE

21/12/2017

335.50

4,000.00

154

VINOD KUMAR THENAKUNNAATHKANA

PERSONAL HOME REMITTANCE

21/12/2017

335.50

3,300.00

1

OTHER SOURCES 1

18/12/2017

355.00

92,626.81

155

OSSAMA SAYOUR

PERSONAL HOME REMITTANCE

21/12/2017

335.50

4,000.00

2

OTHER SOURCES 2

18/12/2017

355.00

123,774.39

156

ANUJAN MANOJKUMAR

PERSONAL HOME REMITTANCE

21/12/2017

335.50

4,500.00

3

OTHER SOURCES 3

18/12/2017

355.00

41,343.88

157

MIKHAEL ABOU CHACRA

PERSONAL HOME REMITTANCE

21/12/2017

335.50

2,500.00

4

OTHER SOURCES 4

18/12/2017

357.00

1,800.00

158

ZIAD BOU KHALIL

PERSONAL HOME REMITTANCE

21/12/2017

335.50

3,250.00

5

OTHER SOURCES 5

18/12/2017

357.00

654.00

159

CHARBEL HANNA

PERSONAL HOME REMITTANCE

21/12/2017

335.50

3,000.00

6

OTHER SOURCES 6 (EUR300.00)

18/12/2017

357.00

335.82

160

GERGES ANTOINE NAAMAN

PERSONAL HOME REMITTANCE

21/12/2017

335.50

3,750.00

7

OTHER SOURCES 7 (GBP150.46)

18/12/2017

357.00

190.99

161

ZIAD ANY

PERSONAL HOME REMITTANCE

21/12/2017

335.50

7,000.00

8

OTHER SOURCES 8 (GBP240.82)

18/12/2017

357.00

305.70

162

JIHAD ABI SAMR

PERSONAL HOME REMITTANCE

21/12/2017

335.50

5,000.00

9

OTHER SOURCES 9

18/12/2017

350.00

30.00

163

TEDDY SAWMA

PERSONAL HOME REMITTANCE

21/12/2017

335.50

3,000.00

10

OTHER SOURCES 10

18/12/2017

305.80

0.04

164

GOLLAPALLI VENKATA RAO

PERSONAL HOME REMITTANCE

21/12/2017

335.50

3,500.00

11

CBN

18/12/2017

357.00

1,000,000.00

165

A GANGADHARANPILLAI

PERSONAL HOME REMITTANCE

21/12/2017

335.50

5,000.00

12

CBN

18/12/2017

357.00

1,000,000.00

166

BOUTROS CHAHINE

PERSONAL HOME REMITTANCE

21/12/2017

335.50

6,000.00

13

OTHER SOURCES 11

19/12/2017

357.00

1,000.00

167

ELIAS KARIM HAIKAL

PERSONAL HOME REMITTANCE

21/12/2017

335.50

12,000.00

14

OTHER SOURCES 12

19/12/2017

357.00

2,701.16

168

ROBIN CORREY

PERSONAL HOME REMITTANCE

21/12/2017

335.50

3,500.00

15

OTHER SOURCES 13 (EUR195.50)

19/12/2017

357.00

229.95

169

AOUN NASSIM

PERSONAL HOME REMITTANCE

21/12/2017

335.50

4,200.00

16

OTHER SOURCES 14 (GBP59.48)

19/12/2017

357.00

79.12

170

LUCIO BAGSICAN

PERSONAL HOME REMITTANCE

21/12/2017

335.50

1,200.00

17

OTHER SOURCES 15 (GBP57.87)

19/12/2017

357.00

76.97

7,500.00

171

SQUAD GIRGES HANNA

PERSONAL HOME REMITTANCE

21/12/2017

335.50

18

OTHER SOURCES 16

19/12/2017

355.00

218,576.65

172

KANDOLO KASONGO

PERSONAL HOME REMITTANCE

21/12/2017

351.00

1,553.35

19

OTHER SOURCES 17

19/12/2017

355.00

137,972.93

173

EURAFRIC POWER LIMITED

INTEREST PAYMENT

21/12/2017

335.50

214,380.53

20

OTHER SOURCES 18

19/12/2017

355.00

160,581.73

174

JIHAD ABI SAMRA

PERSONAL HOME REMITTANCE

21/12/2017

335.50

20,000.00

21

OTHER SOURCES 19

19/12/2017

355.00

74,860.18

175

JOSHUA THOMAS RIBU

PERSONAL HOME REMITTANCE

21/12/2017

335.50

2,000.00

22

OTHER SOURCES 20

19/12/2017

320.00

234.68

176

AKINMJIWA SAMUEL OLAYATO

LIVING EXPENSE

21/12/2017

360.00

1,600.00

23

OTHER SOURCES 21

19/12/2017

320.00

3,063.43

177

LADEGA CATHERINE OLUWASEYI

PAYMENT OF SCHOOL FEES

21/12/2017

360.00

3,245.00

24

OTHER SOURCES 22

19/12/2017

320.00

6,547.36

178

UWAIS MUHAMMADU LAWAL

PAYMENT OF SCHOOL FEES

21/12/2017

360.00

3,990.00

25

OTHER SOURCES 23

19/12/2017

320.00

3,423.22

179

OGBONNA KENNEDY OBINNA

PAYMENT OF SCHOOL FEES

21/12/2017

360.00

3,045.00

26

OTHER SOURCES 24

19/12/2017

306.20

10,000.00

180

EZEKIEL OKON ENANG

PAYMENT OF SCHOOL FEES

21/12/2017

360.00

5,191.00

27

OTHER SOURCES 25

19/12/2017

306.20

3,265.84

181

OJOAWO ABIODUN OLUGBEMIGA

PAYMENT OF SCHOOL FEES

21/12/2017

360.00

3,145.00

28

OTHER SOURCES 26

20/12/2017

320.00

3,746.84

182

EZEKIEL OKON ENANG

PAYMENT OF SCHOOL FEES

21/12/2017

360.00

3,941.25

29

OTHER SOURCES 27

20/12/2017

360.00

75,074.46

183

OJOAWO ABIODUN OLUGBEMIGA

PAYMENT OF SCHOOL FEES

21/12/2017

360.00

3,145.00

30

OTHER SOURCES 28

20/12/2017

357.00

125.00

184

KEPCO ENERGY RESOURCES LIMITED

INTEREST PAYMENT

21/12/2017

360.00

883,752.25

31

OTHER SOURCES 29

20/12/2017

357.00

300.00

185

KEPCO ENERGY RESOURCES LIMITED

INTEREST PAYMENT

21/12/2017

335.50

36,750.00

32

OTHER SOURCES 30

20/12/2017

357.00

3,500.00

186

KEPCO ENERGY RESOURCES LIMITED

INTEREST PAYMENT

21/12/2017

335.50

36,533.10

33

OTHER SOURCES 31

20/12/2017

357.00

616.65

187

UGAH ESTHER UCHECHI

PAYMENT OF SCHOOL FEES

21/12/2017

282.31

6,232.31

34

OTHER SOURCES 32

20/12/2017

357.00

1,409.80

188

NDANAH BEATRICE OMENOGOR

PTA

21/12/2017

360.00

100.00

35

OTHER SOURCES 33

20/12/2017

357.00

430.00

189

KADIRI IDAYAT O

PTA

21/12/2017

360.00

4,000.00

36

OTHER SOURCES 34 (EUR365.66)

20/12/2017

357.00

430.84

190

NDANAH BEATRICE OMENOGOR

PTA

21/12/2017

360.00

1,100.00

37

OTHER SOURCES 35 (EUR306.00)

20/12/2017

357.00

360.55

191

MARY UZOAMAKA AINA

PTA

21/12/2017

360.00

4,000.00

38

OTHER SOURCES 36 (GBP600.00)

20/12/2017

357.00

799.92

192

IGBOKWE GODFREY EZE

PTA

21/12/2017

360.00

4,000.00

39

OTHER SOURCES 37 (GBP98.34)

20/12/2017

357.00

131.11

193

DAVID OKPON

PTA

21/12/2017

360.00

2,000.00

40

OTHER SOURCES 38 (GBP87.60)

20/12/2017

357.00

116.79

194

FALADE BANKOLE ADEBAYO BANDELE

PTA

21/12/2017

360.00

4,000.00

41

OTHER SOURCES 39

20/12/2017

355.00

144,149.39

195

IGWEMMA SUNDAY

PTA

21/12/2017

360.00

4,000.00

42

OTHER SOURCES 40

20/12/2017

355.00

198,190.30

196

YUSUF AMINAH

PTA

21/12/2017

360.00

4,000.00

43

OTHER SOURCES 41

20/12/2017

355.00

43,798.62

197

MUSTAPHA SHINA JUBRIL

PTA

21/12/2017

360.00

4,000.00

44

OTHER SOURCES 42

20/12/2017

355.00

5,870.00

198

NWOKOLO CHINYERE JUDITH

PTA

21/12/2017

360.00

4,000.00

45

CBN

20/12/2017

335.00

2,000,000.00

199

WESTERN UNION

CBN SALE

21/12/2017

357.00

121,848.93

46

CBN

20/12/2017

335.00

8,000,000.00

200

MONEYGRAM

CBN SALE

21/12/2017

357.00

155,102.25

47

OTHER SOURCES 43

20/12/2017

306.15

10,000.00

201

RIA

CBN SALE

21/12/2017

357.00

39,298.97

48

OTHER SOURCES 44

21/12/2017

361.00

100,000.00

202

ANOCHEMICAL COSMETICS INDUSTRIAL LTD

SME FUNDS

21/12/2017

360.00

7,824.00

49

OTHER SOURCES 45

21/12/2017

350.00

3,777.99

19,800.00

203

D.N IHEMSINE AUTO CO

SME FUNDS

21/12/2017

360.00

50

OTHER SOURCES 46

21/12/2017

355.00

121,848.93

204

PETER HENRY GLOBAL CONCEPT LTD

SME FUNDS

21/12/2017

360.00

8,700.00

51

OTHER SOURCES 47

21/12/2017

355.00

155,102.25

205

NSI BEST VENTURES

SME FUNDS

21/12/2017

360.00

19,900.00

52

OTHER SOURCES 48

21/12/2017

355.00

39,298.97

206

GLOBAL NEXT LEVEL

SME FUNDS

21/12/2017

360.00

20,000.00

53

OTHER SOURCES 49

21/12/2017

357.00

30.00

207

TOBBY ANICHEBE AND SONS NIG LTD

SME FUNDS

21/12/2017

360.00

3,600.00

54

OTHER SOURCES 50

21/12/2017

357.00

30.00

208

F.C PRUDENT MERCHANDISE VENRURES

SME FUNDS

21/12/2017

360.00

6,507.79

55

OTHER SOURCES 51

21/12/2017

357.00

6,065.00

209

NUEVOS CONCEPTOR NIG LTD (EUR1,512.00)

SME FUNDS

21/12/2017

360.00

1,789.23

56

OTHER SOURCES 52

21/12/2017

357.00

192.50

210

NUEVOS CONCEPTOR NIG LTD (EUR9,945.00)

SME FUNDS

21/12/2017

360.00

11,768.45

57

OTHER SOURCES 53

21/12/2017

357.00

591.68

211

TADECO INDUSTRIAL

PLAIN PAPER BOARD IN SHEETS(RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOK)

22/12/2017

335.50

50,000.00

58

OTHER SOURCES 54 (EUR93.

21/12/2017

357.00

110.18

212

TADECO INDUSTRIAL

PLAIN PAPER BOARD IN SHEETS(RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOK)

22/12/2017

335.50

50,000.00

59

OTHER SOURCES 55 (EUR150.00)

21/12/2017

357.00

177.50

213

TADECO INDUSTRIAL

PLAIN PAPER IN SHEETS(UNCOATED) RAW MATERIAL FOR BOOKS PRODUCTION

22/12/2017

306.65

100,000.00

60

OTHER SOURCES 56 (EUR600.00)

21/12/2017

357.00

710.01

214

RIDA NATIONAL PLASTICS LTD

STEAM BOILER, LIGHT OIL CUM GAS BURNER AND GAS TRAIN FOR INLET GAS

22/12/2017

335.50

36,000.00

61

OTHER SOURCES 57 (EUR92.00)

21/12/2017

357.00

108.87

215

OLUFADE FEYISOLA KEJIOLA

PTA

22/12/2017

360.00

4,000.00

62

OTHER SOURCES 58 (GBP91.70)

21/12/2017

357.00

122.09

216

ABIODUN OLUFEMI SAMUEL

PTA

22/12/2017

360.00

4,000.00

63

OTHER SOURCES 59

21/12/2017

320.00

4,321.09

217

AKINNIFESI ADETOUN MUYINAT (GBP310.00)

PTA

22/12/2017

360.00

310.00

64

OTHER SOURCES 60

21/12/2017

306.15

100,000.00

218

NNENNA NGOZI AGWU (GBP2,985.00)

PTA

22/12/2017

360.00

3,991.54

65

OTHER SOURCES 61

22/12/2017

350.00

15,571.43

219

SOLLATEK ELECTRONICS LTD

DIRECTOR'S FEE

22/12/2017

362.00

9,000.00

66

OTHER SOURCES 62

22/12/2017

350.00

117,131.07

220

ALOWOLODU ADE AUGUSTINE

PAYMENT OF SCHOOL FEES

22/12/2017

360.00

45.00

67

OTHER SOURCES 63

22/12/2017

357.00

361.15

221

ADEOLA VICTOR OLUMIDE

PAYMENT OF SCHOOL FEES

22/12/2017

360.00

1,595.00

68

OTHER SOURCES 64

22/12/2017

357.00

773.80

222

OLUWAMAYOMIDE SONUBI (CAD500.00)

LIVING EXPENSES

22/12/2017

360.00

391.33

69

OTHER SOURCES 65

22/12/2017

355.00

132,364.27

223

NGOZI IHEDIMBU UNORJI (CAD1,000.00)

LIVING EXPENSES

22/12/2017

360.00

782.66

70

OTHER SOURCES 66

22/12/2017

355.00

151,500.48

357.00

132,364.27

71

OTHER SOURCES 67

22/12/2017

355.00

58,662.49

224

WESTERN UNION

SALE TO CBN

22/12/2017

225

MONEY GRAM

SALE TO CBN

22/12/2017

357.00

151,500.48

72

OTHER SOURCES 68

22/12/2017

320.00

5,910.94

226

RIA

SALE TO CBN

22/12/2017

357.00

58,662.49

73

OTHER SOURCES 69

22/12/2017

359.90

2,126.14

46

MONDAY/TUESDAY DECEMBER 25-26, 2017 T H I S D AY

47

T H I S D AY MONDAY/TUESDAY DECEMBER 25-26, 2017

S/N CUSTOMER NAME

ITEM OF IMPORT

DATE OF FUND UTILIZATION

EXCHANGE RATE

AMOUNT ($)

S/N

CUSTOMER NAME

ITEM OF IMPORT

DATE OF FUND UTILIZATION

EXCHANGE RATE

AMOUNT ($)

MONDAY-TUESDAY DECEMBER 25-26, 2017 ˾ T H I S D AY

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INTERNATIONAL

email:foreigndesk@thisdaylive.com

Jerusalem Tensions Cast Shadow over Holy Land Christmas Palestinian scouts played drums and bagpipes as Christmas celebrations began in Bethlehem on Sunday, but many tourists stayed away with tensions still simmering following Washington’s recognition of Jerusalem as Israel’s capital, AFP reported on Sunday. The December 6 announcement by US President Donald Trump unleashed demonstrations and clashes, including in Bethlehem in the Israeli-occupied West Bank where Christians will mark the birth of Jesus in a midnight mass.

On Bethlehem’s Manger Square, hundreds of Palestinians and tourists gathered in the cold near a huge nativity scene and Christmas tree to watch the annual scout parade. They took pictures as a marching band made its way through the square towards the Church of the Nativity, built over the spot where tradition says Mary gave birth to Jesus. The square usually throngs with tourists on Christmas Eve, but clashes between Palestinian protesters and the Israeli army in the past weeks have kept people away this year.

Twelve Palestinians have been killed since Trump’s declaration, including a 19-year-old who died of his wounds on Sunday nine days after he was shot during a Gaza protest. Nahil Banura, a Christian

woman from Beit Sahur, a town near Bethlehem, said Trump’s decision had made the run-up to Christmas “miserable”. “People are only going out to vent,” said the 67-year-old, whose granddaughter wore a

Santa Claus hat and clutched a pink balloon. Perhaps as few as 50,000 Palestinian Christians make up just around two percent of the predominantly Muslim population of the West Bank and east Jerusalem.

Archbishop Pierbattista Pizzaballa, apostolic administrator of the Latin Patriarch of Jerusalem, arrived in Bethlehem after noon and shook hands with local personalities on his way to the Church of the Nativity.

Iraq Christmas Service Takes Place in Mosul after IS Defeat A Christmas service at a church in the Iraqi city of Mosul has taken place for the first time since militants from the so-called Islamic State (IS) were driven out of the region, according to a BBC report on Sunday. Under IS the public performance of any Christian rituals was dangerous and difficult. Many Christians fled persecution, with IS forcing worshippers to convert to Islam, pay a tax or face death. Iraqi forces defeated the so-called Islamic State in Mosul in July. Earlier this month, Iraqi Prime Minister Haider al-Abadi declared the three-year campaign to expel IS from Iraq had been successful. During the service, armoured

vehicles sat outside Saint Paul’s church and, inside, white sheets covered up bombed-out window frames. The patriarch of Iraq’s Chaldean Catholic Church, Louis Raphael Sako, requested that followers pray for “peace and stability in Mosul, Iraq and the world”. Farqad Malko a Christian who returned to the city after the defeat of IS, said the service was “important to relaunch Christian life”. Saint Paul’s is the only functioning church in Mosul, and is only open thanks to the efforts of volunteers, the AFP agency reports. Before the advance of IS in 2014, church leaders estimated Mosul had a Christian community of 35,000.

Thailand Enshrines King Bhumibol Adulyadej’s Ashes The final stage of the funeral ceremony for Thailand’s late King Bhumibol Adulyadej has taken place in Bangkok, according to a BBC report. The king’s ashes were enshrined in two royal temples and Thailand’s Grand Palace, where he had lain in state since he died aged 88 last October. On Thursday, hundreds of thousands of people lined the streets to pay their last respects to King Bhumibol, who reigned for more than 70 years. A year-long mourning period ended at midnight (17:00 GMT) on Sunday. It means mourners will be able

to replace their black clothes with more subdued colours, such as brown and blue. Black and white decorations on government offices and homes can also be removed. The elaborate five-day funeral officially started on Wednesday with a merit-making ceremony, a Buddhist rite, in the Grand Palace in Bangkok. On Thursday, the late king was cremated on a royal pyre lit by his son, King Maha Vajiralongkorn, after a procession marked by drums, flute music and an artillery salute. In the final ceremonies, King Vajiralongkorn selected some of his father’s ashes to be enshrined in the Grand Palace.

Puerto Rico Governor: Scrap Whitefish Energy Grid Deal Puerto Rico’s governor has called for a contract given to a tiny Montana firm to help reconstruct the island’s power grid to be cancelled, his office said. An official with Ricardo Rosselló’s office told the BBC that the governor would ask the Puerto Rican authorities to scrap the deal. The contract was given to Whitefish Energy, which has little experience of work on such a scale, without a public bid process. Several probes are under way. The White House and the Federal Emergency Management Agency (Fema) distanced themselves from

the deal last week. The company is headquartered in the town of Whitefish, the hometown of US Interior Secretary Ryan Zinke. Mr Zinke has denied any involvement or wrongdoing. Whitefish has said that it secured the $300m (£228m) deal in a legitimate manner. The company did not immediately return BBC News’ request for comment on the governor’s statement. Some 75% of Puerto Ricans have no power five weeks after Hurricane Maria.

The service at St Paul’s church in Mosul was the first Christmas service in years EPA.jpg

Italy PM Plans to Shift Military Forces from Iraq to Niger Italian Prime Minister Paolo Gentiloni said on Sunday he would propose to parliament transferring some of the country’s troops stationed in Iraq to Niger to fight people smuggling and terrorism, Reuters reported. Gentiloni said Italy’s 1,400-strong military presence in Iraq could now be reduced after victories against Islamic militants and instead deployed in the Sahel region of West Africa. “We have to continue to

work, concentrating our attention and energies on the threat of people trafficking and terrorism in the Sahel,” he said aboard the Italian ship Etna used in the European Union’s “Sophia” operation to counter people smuggling in the Mediterranean. “For this reason, part of our forces in Iraq will be deployed to Niger in coming months - this is the proposal the government will make to parliament,” Gentiloni said.

He did not specify how many people would be sent to Niger. Newspaper Il Fatto Quotidiano wrote on Sunday that the contingent would be “at least 470” as part of a commitment made to French President Emmanuel Macron. Macron has thrown his weight behind a French-backed West African force known as the G5 Sahel, which includes the armies of Mali, Mauritania, Niger, Burkina Faso and Chad, which was set up in October to tackle

Islamist militants. To give the force a boost, Macron held a Paris summit on Dec. 13 attended by the leaders of the five participating countries, Germany and Italy as well as Saudi and Emirati ministers. The Italian parliament is expected to be formally dissolved by the end of this year ahead of March elections. But it will continue to meet for “ordinary administration” and could approve Gentiloni’s request for the transfer of military personnel.

Russian PresidentialVote: Navalny ‘Nominated to Run’ against Putin Russian opposition politician Alexei Navalny says he has gathered enough nominations to challenge Vladimir Putin in March’s presidential election, BBC reported on Sunday. His supporters met in 20 cities across the country to secure the signatures. Mr Navalny is still unlikely to run as election officials ruled him ineligible due to a corruption

conviction which he says is politically motivated. Mr Navalny spoke at the Moscow gathering, branding Mr Putin a “bad president”. He told his supporters in a marquee on a snowy riverbank that he would call a boycott of the election if he were not allowed to stand. Mr Navalny is widely regarded as the only candidate

with a chance of challenging the president, who is seeking a fourth term that would see him become the longest-serving Russian leader since Joseph Stalin. Russian socialite and TV presenter Ksenia Sobchak is standing in the election but some - including Mr Navalny - regard her as a “Kremlin stooge”. Separately on Sunday, an opposition rally called by

activist Ilya Yashin was held in the north-west of the capital. Dozens attended the rally, which was streamed live on Facebook by Radio Liberty, chanting “Russia will be free” and “Putin is a thief”. Police declared it “illegal and provocative” and vowed to act in “strict accordance with the law”. However, no-one was detained.

Somalia Sacks Security Chiefs as Attack Toll Hits 27 The death toll from a deadly attack on a hotel in Mogadishu rose to 27 on Sunday, prompting the Somali government to sack its police and intelligence chiefs, according to AFP. The move came after Al-Qaeda aligned Shabaab gunmen staged coordinated bomb attacks Saturday outside the Nasa Hablod Hotel 2 before storming the building.

Two weeks ago, Mogadishu was hit by a massive truck bombing that killed 358 people in the troubled country’s worstever attack. Saturday’s carnage was unleashed when a car bomb exploded outside the hotel entrance followed by a minibus loaded with explosives going off at a nearby intersection. The gunmen then rushed into

the popular hotel, launching a siege that lasted several hours. “Five gunmen stormed the building, two of them were killed and the rest captured alive,” security ministry spokesman Abdiasiz Ali Ibrahim told reporters. Sporadic gunfire could be heard inside the building where the gunmen had holed up, but several people managed to escape, officials said.

Officials had initially given a toll of 14 dead, saying “most” of the casualties were civilians although a senior police official and a former MP were among them. The Shabaab claimed responsibility for the attack in a statement on its Andalus radio station, saying it was a hotel where “apostate officials” were staying.

MONDAY-TUESDAY DECEMBER 25-26, 2017 ˾ T H I S D AY

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NEWSEXTRA

Ex-Boko Haram Chief Warns Shekau against Using Hypnotised Girls as Suicide Bombers NAF jets bombard settlements of Albarnawi faction Ex-Boko Haram Chief Intelligence Officer (CIO), Abdulkadir Abubakar, has warned the leader of the group, Abubakar Shekau, to stop using innocent girls who are being hypnotised as human bombs. Abubakar, also known as Abu Muhammad, also warned other factional leaders of the group like Mamman Nur, Abbor Mainok, Abu Musad Albarnawi and Abbah Minok, to repent from their deadly ways and embrace peace. Abubakar was the CIO of the terror group and one of its top commanders, until his arrest in June by the military in Buni Yadi in Gujba Local Government Area of Yobe State. The commander who spoke to PRNigeria in his cell in Maiduguri, regretted that a lot of innocent young girls were captured, tortured, hypnotised and used by Shekau for suicide bombing. “I am calling on Shekau, Mamman Nur, Abbor Minok and Abu Musad Albarnawi to lay down their arms and stop the senseless killings. “Shekau has continued to demonstrate his cruelty and atrocities against humanity. He had killed a lot of people, destroyed homes and rendered people homeless. “He continued to exercise God’s authority to himself by killing innocent people at will without any justification. This was why all his commanders left him. He doesn’t have pity for the aged, women, children as well as young girls, who are mostly suffering and dying in his camp. “His followers are raping and committing all sort of atrocities under his nose while he continued to show no concern. Many who dared to question his dastardly

acts, were promptly eliminated by Shekau. “Some of his commanders like Aliyu and our Chief Mechanic known as “Paper” were killed for begging Shekau to provide food to mothers and their children at the time our camp in Abiso ran out of food. “When Shekau was told to help them, he said he did not come to Sambisa to feed the children of “Handak.” He said if 100,000 of them die everyday, that’s none of his business. “At some point, women became beggars to feed their children in Sambisa, while at least 13 children get killed of malnutrition and other hardship meted on them by Shekau. “This is the reason why Mamman Nur, Albarnawi, Man Chari, Abbor Minok and Abba Albarnawi including myself deserted him and form our own factional groups. Mamman Nur moved to the shores of Chad while Albarnawi and Abbah (Last born of Muhammad Yusuf) remained at the shores of Magumeri. “All of us as at then, were all hunting to kill Shekau just like the Nigerian military because of the attrocities he committed under our name. We had fought nine times with him and killed many of his men. “Shekau must know that all those women he is sending with Improvised Explosive Device (IEDs) in places of worships, market and schools are our sisters and mothers and they don’t deserve to die. “He must know that one day he would be called to account for all the atrocities he has committed in the name of Islam. There is no compulsion in religion. Indeed God has really allowed the truth to prevail over falsehood.

Adeosun: Finance Ministry, OAGF Comply with Fiscal Responsibility Act Obinna Chima The Minister of Finance, Mrs. Kemi Adeosun, yesterday stressed that her ministry as well as the Office of the Accountant General of the Federation (OAGF) has always complied with the Fiscal Responsibility Act (FRA). Adeosun, who said this in a statement in reaction to a report by an online news platform, described as false the report that the Federal Ministry of Finance and the OAGF failed to adhere to the FRA. She also faulted the claim by the online medium that her ministry and the OAGF do not have an annual cash plan for every financial year for implementing the Appropriation Act. The statement which was signed by her Special Adviser, Media and Communications, Oluyinka Akintunde, added: “The minister wishes to unambiguously refute the entire misconceived report by the online medium and states that both the Federal Ministry of Finance and the OAGF have always complied with the Fiscal Responsibility Act (FRA) as required by Section 22 of the FRA. “The OAGF has always prepared a cash plan for payment on a daily and month basis as

well as revised it periodically. Both cash payment plan and revised plan are presented to the Cash Management Committee presided over by the Minister of Finance. “Members of the Cash Management Committee include: the Minister of State for Budget and National Planning, Accountant General of the Federation, Director-General of the Budget Office of the Federation, Director-General of the Debt Management Office, Director of Cash Management Department in the Federal Ministry of Finance, a representative of the Central Bank of Nigeria, and some support staff from the Ministry, OAGF and Budget Office. “The minister further wishes to elucidate that the federal government’s cash payment platform, the Government Integrated Financial Management Information System (GIFMIS), makes it mandatory that a cash plan must be in place. “This implies that the cash plan must be prepared, reviewed and finalised on the GIFMIS before any disbursement could be made whether personnel, overheads or capital expenditure related. “The decisions on disbursement to projects are also taken and approved by the Cash Management Committee.”

“There is no verse in the Holy Qur’an that permits Muslims to kill anybody. God will punish even those who feel happy when we are killed not to talk of killing innocent people. So you cannot kill anyone who doesn’t believe in your faith or practice. “Arrogantly, Shekau declared a whole country and people living it as infidels and ordered that everyone living in that city and not Sambisa must be killed. Islam can never be synonymous to senseless killings. “Shekau should remember that he was nobody but ordinary student. He should remember that he had only two sets of cloths when we were in Maiduguri. I remember even telling him ‘why can’t you buy

more cloths to wear?’ And he told me that he was afraid of meeting God on the day of judgment. “He should look at himself and ask himself what he has achieved from the senseless cause. Despite all the looted wealth and power he had acquired, was he able to buy himself good health. He is now a cripple. Isn’t that a lesson for him to learn and understand that God is punishing him for the pain he inflicted on others. Meanwhile, the Nigerian Air Force (NAF) has intensified its air operations in North-eastern Nigeria and in the process, neutralised scores of Boko Haram terrorists in Tumbun Rago, a settlement at the northern fringes of Borno State

bordering Lake Chad. A statement by its spokesman said during a routine Intelligence, Surveillance and Reconnaissance (ISR) mission on December 20, 2017, a NAF ISR platform sighted Boko Haram terrorists activities at Tumbun Rago, occupied by Albarnawi faction. It added that the fighter aircraft and helicopters were detailed for air interdiction over the location on December 21, 2017. The fighter aircraft took turns to unleash their armament on the location. Battle Damage Assessment (BDA) of the attacks revealed that they targeted the terrorists’ structures were destroyed, causing

fire within the location and neutralising scores of insurgents in the process. Thereafter, recently acquired helicopter gunships carried out mop-up attacks on a few fleeing insurgents. Furthermore, on December 22, 2017, the NAF neutralised a large gathering of Boko Haram South-east of Bogumeri, also in Borno State, after a convoy of Boko Haram on motorcycles had been trailed to the location. The air force said the intensification of its operations is aimed at further reducing the will of the terrorists to continue their nefarious activities, and also creating the needed advantage for the surface forces to effectively operate.

THANKING GOD FOR VICTORY

R-L: National Chairman, Peoples Dempcratic Party (PDP); Prince Uche Secondus; Rivers State Governor, Nyesom Ezenwo Wike; and his Abia State counterpart, Dr. Okezie Ikpeazu, during a thanksgiving service in honour of the PDP national chairman, at the Rivers State Ecumenical Centre, in Port Harcourt...yesterday

Fayose Blasts Buhari, APC over Fuel Crisis Says NBS revelation of 7.7m job loss is shameful Victor Ogunje in Ado Ekiti with agency report Ekiti State Governor, Ayodele Fayose, has said it is worrisome that President Muhammadu Buhari and other members of the All Progressives Congress (APC) are “acting like all is well with Nigeria.” Speaking on the scarcity of fuel in the country, Fayose said it should be clear to Nigerians that Buhari lacks “the required capacity to perform.” The governor, according to The Cable, wondered why Nigerians “cannot celebrate” the festive period under a government that promised change. “The ‘We don’t care’ attitude of the government is even more worrisome. While Nigerians continue to suffer from the ineptitude of this APC government, it is more worrisome that the president and his men are carrying on as if all is well with the country,” Fayose wrote on Twitter. “Obviously, I have been vindicated on my position that

President Buhari lacked the required capacity to perform. By now, it should be clear to all Nigerians that President Buhari does not have anything to offer Nigerians other that sufferings and hardships. “One of the many effects of the president’s lack of the required mental and intellectual capacity to tackle the nation’s economic problems is the collapse of several companies and loss of 3.67 million jobs in 2016 and another 4.07 million jobs in 2017. “Today, under a government that promised change, Nigerians cannot even celebrate Christmas and New Year in peace because of the fuel scarcity orchestrated by the Buhari’s government just to achieve its aim of hiking fuel price. Nigerians are now buying petrol for as high as N600.” Also in a statement issued yesterday by his Special Assistant on Public Communications and New Media, Lere Olayinka, Fayose also said it was alarming that under the APC government of Buhari, 7.74million Nigerians lost their jobs within the last two

years, adding: “It is an shameful that instead of creating the three million jobs it promised Nigerians yearly, the APC government has created unemployment.” He lamented what he described as the “We don’t care” attitude of the government, pointing out that, “while Nigerians continue to suffer from the ineptitude of this APC government, it is more worrisome that the president and his men are carrying on as if all is well with the country.” The governor who said he was vindicated on his position that President Buhari lacked the required capacity to perform, said “by now, it should be clear to all Nigerians that the president does not have anything to offer Nigerians other than that sufferings and hardships.” The National Bureau of Statistics (NBS) had said in its latest unemployment report that 4.07 million Nigerians became unemployed between January and September this year. Also, the NBS said 3.67 million Nigerians became jobless last year.

“One of the many effects of the president’s lack of the required mental and intellectual capacity to tackle the nation’s economic problems is the collapse of several companies and loss of 3.67 million jobs in 2016 and another 4.07 million jobs in 2017. “Today, under a government that promised change, Nigerians cannot even celebrate Christmas and New Year in peace because of the fuel scarcity orchestrated by the Buhari’s government just to achieve its aim of hiking fuel price. Nigerians are now buying petrol for as high as N600 times. “Nigerians are only asking for food on their tables, they want employments and they want security. But they have gotten hardship and suffering from President Buhari and his clueless government? “I therefore call on Nigerians to be prepared to use their votes to send President Buhari back to his farm in Daura so that Nigeria can once again return to the path of progress.”

MONDAY/TUESDAY DECEMBER 25-26, 2017 ˾ T H I S D AY

50

CHRISTMAS FELICITATIONS...

CHRISTMAS FELICITATIONS...

Saraki, Dogara, Ekweremadu, Others Greet Christians at Christmas As Christians join others around the world to celebrate Christmas, Senate President, Dr. Bukola Saraki, Speaker of the House of Representatives, Hon. Yakubu Dogara, Deputy Senate President Ike Ekweremadu, and others have felicitated with as they celebrate the birth of Jesus Christ. Saraki, in a statement by his Special Adviser on Media and Publicity, Mr. Yusuph Olaniyonu, also urged Christians to use the festive occasion to pray for unity, peace and prosperity of the country. He called on all Nigerians to rededicate themselves to the service of humanity in line with the true teachings of Jesus Christ which emphasise tolerance, patience, brotherly kindness, care for the needy and love for one another, among other virtues. Similarly, Dogara challenged Christian faithful to remember to show love to their neighbours and underprivileged as they celebrate the birth of Jesus Christ. In a statement to mark the Christmas, Speaker said the Lord Jesus Christ was an embodiment of sacrificial love to the point that He gave His life for the redemption of mankind. He said: “As we celebrate the birth of our Saviour, Jesus Christ, let us all remember that it is a time to spread the love of Christ with family, friends, neighbours and the underprivileged in the society. On his part, Deputy Senate President Ike Ekweremadu, urged Nigerians to emulate the great virtues of humility, love, peace, forgiveness, and reconciliation. He said these were the real reasons for the coming of Jesus Christ. Ekweremadu, who made the call in his Christmas message to Nigerians, said Christmas was an opportunity to reflect on the humility of Christ and limitless love of God, who gave his only begotten son to be born as man in order to save and reconcile mankind unto Himself. While wishing Christian faithful and indeed all Nigerians a merry Christmas, Ekweremadu also prayed God to guide the nation’s leaders on the path of Christly virtues of humility, fairness, justice, and kindness for the peace and speedy development of the country. Also, House Deputy Speaker, Hon. Sulaimon Lasun, also urged Christians to reflect on the birth of Christ and imbibe His preaching on peace and love. He said: “I rejoice with all Nigerians in general and every Christian family in particular as we celebrate another Christmas in the land of the living, and I pray that the joy associated with the season will be your portion. “The belief generally is that the joy of Christmas is not limited to His unprecedented and miraculous birth, but is personality and activities which gave credence to His birth. Lasun, however, urged Nigerians, irrespective of their religious inclination, to learn how to tolerate each other and live together as one indivisible entity.

Lagos State Governor, Mr. Akinwunmi Ambode, and his wife, Bolanle, dancing with children during the 2017 end-of-the-year children christmas party at the Lagos House, Ikeja... recently

saying it’s a season to celebrate peaceful co-existence and to show to love to one another. The governor’s message was contained in a statement yesterday in Asaba by his Chief Press Secretary, Charles Aniagwu, wherein he tasked Christians to offer special prayers during the yuletide for greater peace, love, unity, peaceful co-existence and progress of Nigeria. Okowa said: “I call on all Christians and indeed and all residents in the state to reflect on the virtues and teachings of Jesus Christ in their lives and activities so that Nigeria and indeed the world would be a better place for all of us. I congratulate all Christians for witnessing yet another Christmas season. I advise all of you to use the festive period for sober reflections and total spiritual renewals and devotion towards living in peace and harmony with adherents of other religions. “The birth of Jesus Christ being celebrated at Christmas should be used to promote peace, love, understanding and unity, including the display of the spirit of tolerance in the accomplishment of our vision of building a better State and country.” The governor commended Christian religious leaders and their counterparts of other faiths in the state for conducting themselves peacefully in their religious activities and for joining All Progressives Congress (APC) National Leader, Senator Bola government in promoting religious and ethnic harmony in Tinubu, has called for support for President Muhammadu the state. Buhari so that the country can overcome its current challenges. He urged Nigerians to learn from the example of Jesus Christ “who faced and overcame the greatest evil” by uniting to overcome our challenges. Tinubu’s message on the occasion of Christmas was issued yesterday by his Media Office in Lagos. Rivers State Governor, Nyesom Wike, has urged Nigerians to In the message, the APC leader said: “Today, Christmas Day, use this year’s Christmas to promote love, friendship, peace is one of the most precious days of the year for it celebrates and reconciliation. In his Christmas Message, Wike said the the birth of Jesus Christ. Be you Christian, Muslim or just a season exemplifies love, advising that Nigerians should always human being with a soul that yearns for peace, compassion love one another. and hope, Jesus Christ belongs to all of us. His teachings are In a statement by the Special Assistant to the state governor universal in application and speak of truths eternal. on Electronic Media, Simeon Nwakaudu, he particularly urged “This Christmas, let us acknowledge his birth but let us also Rivers’ people to use this year ’s Christmas to erect give that acknowledgement its fullest meaning by recognising platforms of love, peace and reconciliation for the greater how Jesus lived and what he lived for. He reached out development of the state. to all. Jesus fed the poor and healed the sick. He spread The governor advised the people to pray for the state compassion and charity and preached love and justice. There and the government to enjoy greater peace in order to are no finer aims than these and we can do no better than consolidate on its developmental programmes that to do all we can to follow his example. hav e made the s tate firs t amo ng e quals . “Let us all embrace and spread the gospel of love, tolerance He assured the people of the state that he would and forgiveness this season and into the New Year. We remain focused in his delivery of pro-people projects must commit ourselves to peace and unity. Let us eschew and programmes to improve their standard of living. all bitterness and bigotry.” He added that “the challenges that face the country currently are difficult ones. But we keep the hope. We must learn from the example of Jesus who faced and overcame the greatest evil. So let us unite to overcome our challenges. “We must support President Buhari and complement his Fo rme r Se nate P re s ide nt, Se nato r Dav id Mark, efforts in his resolve to stimulate the economy and reposition has imp lo re d N ige rians to s e e to day’s c e le b ration the country. The president needs our support, understanding o f C hris tmas as a p e rio d o f re ne w al, urging the m and prayers. We must fully break the terrorism of Boko no t to de s p air amid p re v ale nt economic and socioHaram and completely put down the last vestiges of the political challenges facing the country. terrorists. I wish you all a joyous Christmas.” Mark, in his goodwill Christmas message signed by his Media Assistant, Paul Mumeh, said the birth of Christ should be the elixir needed to confront such challenges, adding that this Christmas provides Nigerians with the platform for a Delta State Governor, Dr. Ifeanyi Okowa, has reinforcement of the indomitable spirit with which they had surmounted congratulated Nigerians on the occasion of this Christmas

Tinubu Calls for Support for Buhari

Wike Advocates Love, Friendship and Peace

M ar k P r e ach e s R e n ewal , Ho pe

Okowa Sues for Peace, Love

various travails of the past. He implored citizens to embrace the teachings of Christ, chief of which he described as perseverance, tolerance, love and forgiveness. He also called for good neighbourliness and harmonious relationships among religious adherents, saying “as much as I know, all religions preach peace, love and mutual co-existence.” He enjoined clerics from all religions to preach peace, love and harmonious relationship among followers to avoid occasional conflicts between or among different faithful.

Shettima: Let’s Renew Empathy for Victims, Families of Heroes, Education of 52,000 Orphans

Borno State Governor, Kashim Shettima, has wished Nigerians a memorable Christmas with a call on residents of the state to use the religious festival to renew kindness to victims of Boko Haram insurgency particularly the displaced civilians and families of armed forces and volunteers who sacrificed their lives fighting insurgents in the Northeast. The governor also called on citizens to re-dedicate concern for the education of over 52,000 school-aged children whose parents were killed by Boko Haram terrorists. In Shettima’s Christmas message which was emailed to journalists by his spokesman, Isa Gusau, he urged Nigerians to use the festival to show love in whatever form to victims of the insurgency in hospitals, within IDP camps, or those living outside camps.

Dickson Calls on Leaders to Work for the Good of Ordinary People

Governor Seriake Dickson of Bayelsa State has felicitated with Christians as they celebrate the birth of Jesus Christ. In a statement signed by his Chief Press Secretary, Francis Agbo, Dickson urged Nigerians to live a Christ-like life, which he noted was a life of sacrifice, selfless service, love and forgiveness. He called on Nigerians and particularly, Bayelsans to use the Christmas celebration to intensify prayers for the peace and security of the state and the country in general. The governor also called on political leaders to emulate Jesus Christ, who he said used His ministry for the good of all, by using their offices to advance the cause of the ordinary people. He said: “Service to man is service to God; he that serves man well, serves God well.”

Tambuwal’s Christmas Message

Governor of Sokoto State, Aminu Waziri Tambuwal, has admonished all Nigerians to be their brothers’ keepers and shun vices that could jeopardise efforts of the government to provide conducive atmosphere for the citizens to realise their life objectives. In a Christmas message issued yesterday by his spokesman, Malam Imam Imam, Tambuwal enjoined his countrymen and women to continue to reflect on the positive tenets that unite the country and strengthen the polity. “This period calls for introspection and continued prayers for our dear nation. We must ponder on the teachings and lessons of Christmas by exhibiting good character at all times. We should also extend hands of fellowship and build blocks of unity and understanding, irrespective of our perceived differences,” the governor said.

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MONDAY/TUESDAY DECEMBER 25-26, 2017 ˾ T H I S D AY

CHRISTMAS FELICITATIONS...

CHRISTMAS FELICITATIONS...

21,000 Persons Get N10,000 Xmas Cash Gift in Bayelsa The Bayelsa State Government has presented a cash gift ‘ Christmas Support’ ranging from N5,000 to N10,000 to about 21,000 persons in the 105 wards of the state. Many of the beneficiaries who got the cash gift from Governor Seriake Dickson, it was gathered, comprised local leaders, elders, women and youths in the various communities irrespective of party affiliations. In his reaction to the gesture, Chairman of the Peoples Democratic Party (PDP) in Bayelsa State, Mr. Cleopas Moses, said the act which stretched across the eight local government areas in the state, will go a long way to ensure that they celebrate Christmas with their families at this very trying time of the year. He said the way the governor took charge of the process ensured that those the stipends were meant for got it. The PDP chairman called on all its members in the House of Assembly to emulate the executive arm of government by extending similar gestures to their constituents. “I want to call on all our elected representatives at the State and National level to emulate the governor by extending similar support and gestures to all our people at the grassroots. We all must play our part to help put smiles on the faces our people at the grassroots. These are indeed trying times for all of us but it is even more for the ordinary people,” he said. Similarly, the government has felicitated with Christians in the state on the occasion of the birth of Jesus Christ, saying it is another time to think and reflect deeply on the life and times of the saviour of mankind. The state Commissioner for Information and Orientation, Daniel Iworiso-Markson in a Christmas message on behalf of the government enjoined Christians in the state to continue to pray for the peace, progress and stability of Bayelsa and Nigeria. The statement also admonished Christians to always uphold the universal attributes of peace, love and sacrifice, which Christ stood for, propagated and died for throughout his life time.

Amosun Calls for Peace, Love and Forgiveness

Ogun State Governor, Senator Ibikunle Amosun, has urged Christian faithful to exhibit the spirit of peace, love and forgiveness all through the Christmas celebration and beyond. Amosun said this in his Christmas message signed by the state Commissioner for Information and Strategy, Otunba Adedayo Adeneye, noting that these were the values that Jesus Christ preached and exhibited all through His sojourn on earth. According to him, “As we mark the Christmas, all true Christians must remember the reason for the season as well as the person, whose birth we are celebrating, who is Jesus Christ. “Jesus Christ went about preaching peace, love and need for us to forgive those who trespass against us. If this is not evident in our lives, as we mark the Christmas and thereafter, then, we have only embarked on a jamboree. He therefore enjoined Christians to pledge to continue to live in peace, renew their love for Nigeria as well as for one another.

Al-Makura: Christians Should Imbibe the Spirit, Teachings of the Season

As Christians in Nasarawa State celebrate the feast of Christmas in commemoration of the birth of Jesus Christ, the state Governor, Umaru Tanko Al-Makura, has enjoined them to imbibe the spirit and teachings of the season. He said they could do so by showing love and affection as well as extending hand of fellowship and goodwill to all the people at all times. Al-Makura stated this in his Christmas goodwill message to the Christian community in the state, adding that the birth of Jesus Christ symbolizes humility, love and peace. “It is in this regard that Jesus Christ personifies selflessness, good neighborliness, charity and reconciliation among humanity. This season is therefore a period for sober reflection and reaffirmation of moral values as exemplified by Jesus Christ,” Al-Makura said.

Obi Felicitates with Christians

The former Governor of Anambra State, Mr. Peter Obi, has felicitated with Christians on the Christmas celebration, reminding them to remember the poor among them. The full text of his speech read: “On this happy occasion of Christmas, we Christians are called upon to reflect on the mystery of our salvation, which started with the birth of Christ and culminated in His death and resurrection. “This period of yuletide calls for celebration. But, more importantly, it offers us the opportunity to live the ideals of charity and peace, which Christ preached. It is also an opportunity to remember the poor amongst us.” “Let us all reach out and touch somebody else in a positive way. Let us give a hand to the less fortunate, that they may rise and walk with us” “Yet, even as we celebrate, we must bear in mind the challenges that face our dear State in the coming year and prepare adequately to confront and master them.”

Akintola Preaches Love, Peace

As Christians in Oyo State join the rest of the world today to celebrate Christmas, legal icon and leading aspirant for All Progressives Congress (APC) governorship ticket in the state in the 2019 general election, Chief Adeniyi Akintola (SAN), has enjoined Nigerians to embrace the virtues of love and peaceful co-existence that the season symbolises.

L-R: Oyo State Deputy Governor, Chief Moses Adeyemo; President, Christian Association of Nigeria (CAN), Rev. Samson Ayokunle; Wife of the state governor, Chief Florence Ajimobi; and wife of a former governor of the state, Chief Kemi Alao-Akala, at the state’s Christmas Carol and thanksgiving service, held at the Agodi Gardens, Ibadan... recently Akintola in his Christmas goodwill message urged Nigerians to also seize the moment to reach out to fellow Nigerians who are in need. He said despite the economic challenges, Nigeria is still making steady progress, and therefore urged Nigerians not to lose faith in their belief that the country would experience better days ahead. The Senior Advocate of Nigeria said: “The season of Christmas is one that exemplifies the virtues of love and peaceful co-existence. We must continue to extend a hand of love, benevolence and live as one family, irrespective of our faith.”

Alli, Ex-Oyo SSG Calls for Sober Reflection A frontline politician in Oyo State and former Secretary to the State Government, Chief Sharafadeen Abiodun Alli, has called for sober reflection on the part of the leaders across the country as fuel scarcity with its attendant hike in the economic lives of citizenry threaten this year’s Christmas and New Year’s festivities. Alli, a former Chairman of Odu’a Investment Company limited, told journalists in Ibadan that “the cost of living has reached an alarming rate and that this calls for sober reflection on the part of Nigerian leaders. The mass of our people are groaning in silence as many are languishing in abject poverty with no hope of survival. “It is so sad that the federal government has failed to live up to its billing of providing responsible leadership to the hapless citizens. The situation becomes more intense and very unfavourable now that the Christmas and New Year festivities are on. One wonders how we sunk to this sorry level with abundance of human and material resources God deposited in this land.” Alli, a chieftain of the Peoples Democratic Party (PDP) who admonished citizens to pray for a greater tomorrow where life will be in abundance for all, also congratulated all Christians on this year’s celebration of the birth of Jesus Christ.

FCT Minister Espouses Unity, Peace

The Minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello, has enjoined all Christian residents in the territory to use the occasion of the Christmas to reflect and to rededicate themselves to the virtues of love, unity and peace. He gave this charge in his Christmas message to FCT residents during the festivities. In the statement signed yesterday by his Chief Press Secretary, Cosmas Uzodinma, Bello described these virtues as the recurrent themes of the message of Jesus Christ. He said: “On behalf of the administration of the FCT, it is my pleasure to wish all FCT citizens, especially the Christian faithful, a merry Christmas.” Bello appealed to all Nigerians, especially the Christian faithful, to use the season to pray for our leaders and indeed our country so that we may enjoy peace and progress in the coming years. Let’s Keep Hope Alive, Gbenga Daniel Urges Nigerians at Xmas. As Christians all over the world celebrate the birth of Jesus Christ, the immediate past governor of Ogun State, Otunba Gbenga Daniel, has urged Nigerians to keep their hope alive despite challenges facing the country and the world at large. In his message to the people, he stated that “Christmas was the time to rediscover and rededicate ourselves to love, peace, unity, equity and justice.” The lessons of humility, selflessness, love and simplicity learnt from the birth of Jesus Christ, he stated, “should be our guiding principles” urging those in position of affluence to return to a more simple life in emulation of the unique experience of Jesus Christ who was born in a manger. Daniel, who is the Asiwaju of Remo Christians, also urged Nigerians to use the occasion to offer

special prayers for peace to reign in the country and the world at large.

Obaseki Urges Christians to Uphold Spirit of the Season

As Christians celebrate Christmas today, the Governor of Edo State, Mr. Godwin Obaseki, has extended good wishes to the faithful in the state and all over the world, urging them to uphold the spirit of the season. Obaseki, in a Christmas message yesterday, wished Christians “the beauty and peace which the birth of Jesus Christ signifies.” He explained that the birth of Jesus Christ is significant to Christians as His life symbolises redemption from condemnation and reconciliation with God, hence the celebration. The governor enjoined Christians to extend the love, which he described as the hallmark of the Christian faith, to their neighbours and everyone they encounter in their businesses and work places. “As we celebrate, let us reflect on the life of Jesus Christ and imbibe his self-sacrificing spirit, his entire life of peace even in the face of adversity and his love for mankind,” the governor added.

Kashamu Preaches Peaceful Co-existence

The Senator representing Ogun East senatorial district at the National Assembly, Senator Buruji Kashamu, has called for love as a prelude to the entrenchment of sustainable peace in the country. In his goodwill message at Christmas, Kashamu urged Nigerians to also see the season as an opportunity to reach out to fellow Nigerians irrespective of tribe, religion and other cleavages. According to the statement, “The annual commemoration of the birth of our Lord, Jesus Christ is a most auspicious time for us as individuals and as a nation to rededicate ourselves to the virtues and ideals which the Messiah preached and exemplified during his earthly ministry. “Christmas is not only about the celebration of the birth of Jesus Christ. It is also the celebration of the greatest gift to mankind. Therefore, let us seize this moment to reach out to fellow Nigerians. Let us promote the things that unite us as a people rather than those that divide us along ethnic, religious and party lines.”

Bauchi Gov’s Wife Urges Christian Women to Imbibe Virtues of Peace, Love, Generosity

Bauchi State First Lady, Hajiya Hadiza Mohammed Abubakar, has called on Christian women to imbibe the values of peace, love, generosity, tolerance and humility in all spheres of life, as exemplified by Jesus Christ during this period of Christmas and beyond. She made the call at the weekend during the flagging-off of 2017 Christmas distribution of food items and materials to women which was held at COCIN LCC Luzarant Church of Christ, Rafin Zurfi, Yelwa area of Bauchi metropolis.According to her, the items distributed were meant to mark this year’s Christmas celebration and to extend a hand of friendship to everyone. Hadiza further said: “I am highly optimistic that this gesture would motivate you to support the government and gear up to be good ambassadors by being patriotic through the exhibition of support, loyalty and cooperation.” She urged the beneficiaries to demonstrate in character and attitude the magnanimous characteristics of the state government that is anchored on positive and transformative change.

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MONDAY-TUESDAY DECEMBER 25-26, 2017 ˾ T H I S D AY

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$15.5m Fraud: EFCC Asks Court to Dismiss Patience Jonathan’s Application Davidson Iriekpen The Economic and Financial Crimes Commission (EFCC) has urged the Federal High Court in Lagos to refuse an application by four companies linked to former First Lady, Mrs. Patience Jonathan. The four companies had pleaded guilty to laundering $15,591,700. The commission alleged that a former Special Adviser on Domestic Affairs to President Jonathan, Waripamo Dudafa, allegedly got part of the money from former National Security Adviser (NSA), Col. Sambo Dasuki (rtd). EFCC said Dasuki withdrew the money from the Central Bank of Nigeria (CBN) and “handed it” over to Dudafa. The commission said Dudafa laundered the money through the companies. He is currently being tried along with a lawyer, Amajuoyi Briggs, and

a banker, Adedamola Bolodeoku. They pleaded not guilty. But the four companies charged along with them pleaded guilty to money laundering charges and were convicted. They are Pluto Properties and Investment Company Limited, Seagate Property Development and Investment Limited, Trans Ocean Property and Investment Company Limited and Avalon Global Property Development Company Limited. Mrs. Jonathan in a separate suit, is laying claims to the money in the companies’ accounts. In a fresh motion on notice filed on their behalf by Chief Mike Ozekhome (SAN), the companies are praying the court to order a reversal of their guilty plea, saying they were not given a fair hearing. The companies are praying for an order setting aside their conviction by Justice Babs Kuewumi

Obiano: Those Proposing Presidential Run for Me are Stargazing David-Chyddy Eleke in Awka Anambra State Governor, Chief Willie Obiano, at the weekend insisted that there was no truth in the recent rumour that he intends to contest the 2019 presidential election on the platform of the All Progressives Grand Alliance (APGA). The governor in a Christmas message signed on his behalf by his Senior Special Assistant on Media, Mr. James Eze, dispelled the speculations. He said: “I dismiss them as a mere political stargazing which has no bearing on the facts on the ground.” The governor urged the people of the state to seize the opportunity of the Christmas to touch the lives of their neighbours positively with love as they commemorate the birth of Christ. Obiano described Christmas as the season of love when Christians are expected to rise above all inhibitions to show love to their neighbours. “Christmas underscores the

sacrificial role of Christ to mankind and reminds us all of the centrality of sacrificial love to a more peaceful and harmonious world. So, in the birth of Jesus Christ, we Christians are reminded that love is the first condition for a better world.” Speaking further, Obiano observed that Nigeria is in a period of time when only sacrificial love can heal the deepseated wounds and harrowing agonies that harangue the people on a daily basis. “We need to be kind to one another, encourage one another and support one another. Nigeria is at a time when we must all come together to seal the cracks between us with love and the celebration of Christmas gives us a perfect opportunity to do just that,” he further advised. He assured the people of the state of his commitments to ensure that he surpasses his first term with his performance, when he begins his second term. He thanked them for voting him overwhelmingly in the just concluded governorship election.

Robber Shoots Colleague, Submits Self to Police Emmanuel Addeh in Yenagoa A 23-year-old suspected armed robber at the weekend shot dead his partner during an operation in Azikoro, Yenagoa, Bayelsa State. Surprisingly, the hoodlum identified as Peter Napoleon, the police said, handed over himself to the authorities a day after committing the act. The suspects had about 8p.m. on the day of the incident attempted to attack one Francis Chibueze along the Azikoro Village road in Yenagoa, the Bayelsa State capital, when Napoleon mistakenly fired the shot that killed Thankgod Smith, his partner. A statement from the Police Public Relation Officer of the Bayelsa Command, Asinim Butswat, noted that the victim, Chibueze escaped unhurt after Napoleon fled the scene.

“On December 22, 2017, at about 2000hrs, a gang of two armed robbers attacked one Francis Chibueze of Bakery Road, Azikoro Village, Yenagoa. “Luck ran against the gang as one of the robbers mistakenly shot and killed his partner. The victim Francis Chibueze escaped unhurt. “The deceased armed robber was identified as Thankgod Smith ‘m’ 25 years, and his partner who shot him is Peter Napoleon ‘m’ 23 years. “Policemen swung into action, and the suspect in hiding panicked and came to the Azikoro Police Station on December 23, 2017 on his own volition and confessed to the armed robbery and killing of his gang member. “He led Police detectives to an uncompleted building on Bakery Road, Azikoro Village, where the gun was recovered,” the police said.

on November 2, 2016. According to them, their trial and conviction were done “in gross violation of their right to fair hearing.” They sought an order for a retrial of the case “as the proceedings so far done amounted to nullity, void and unsustainable in law.” The companies said their conviction “occasioned a miscarriage of justice” to them. They were represented by their directors when they were arraigned on September 15 last year. But EFCC in its counter-affidavit deposed to by an investigating officer Musbhau Yahaya, said the companies’ application was an abuse of court process, and that the judge cannot be asked to overrule himself. On what led to the companies’ conviction, Yahaya said sometime in 2015, the EFCC received “cogent and irresistible” intelligence that Dudafa allegedly “warehoused” proceeds of unlawful activities in the companies’ Skye Bank Plc accounts. The operative said EFCC

analysed the intelligence and discovered that on November 26, 2014, Dasuki applied to the Governor of CBN via a letter dated November 26, 2014 with reference number NSA/366/S for the release of $47,000,000. The operative said the money was part of N10billion “earmarked for special services,” adding that it was handed in cash to one Mr. S. A. Salihu, a Director of Finance and Administration at the Office of the NSA. “The governor of CBN granted this request and delivered the sum to Salisu as instructed by Dasuki. Upon receipt of the said sum, Salisu handed over this money to his boss, Dasuki, in 11 suitcases. “Dasuki in grand conspiracy with the first defendant (Dudafa) handed over the money to the first defendant. “In the course of his service as the Special Assistant to the former President on Domestic Affairs, the first defendant abused his office by corruptly enriching himself,” the deponent said. According to the commission,

Dudafa also allegedly deposited “various huge sums of United States dollars in cash” in the companies’ accounts. “In a bid to disguise and conceal the proceeds of his unlawful activities, the fourth to seventh applicants (the companies) were procured mainly to retain the proceeds of the first defendant’s unlawful activities. “The fourth to seventh applicants each opened an account with Skye Bank Plc,” the deponent said in the counter-affidavit. EFCC said those who pleaded guilty on the companies’ behalf were actually their directors, namely Friday Davis, Agbor Baro, Bioghowori Fredrick and Taiwo Ebenezer. According to the commission, after prosecuting counsel Rotimi Oyedepo reviewed the case following the companies’ plea, the judge asked the representatives if they were in agreement with the facts. “The representatives who are directors of the applicants admitted unequivocally that they agreed with

facts reviewed by the prosecution. “Upon a calm reflection of the evidence led by the prosecution against the fourth to seventh defendants/applicants and the pleas of their directors who represented them, this Honourable Court found the applicants guilty and convicted them as charged,” the commission said. EFCC said the companies’ application was an abuse of court process and was filed in bad faith, adding that the court had become functus officio (cannot re-open the case). The prosecution said the companies filed a Notice of Contention at the Court of Appeal in which they sought an order varying the guilty plea, but it was struck out. EFCC said the companies were yet to appeal against the Court of Appeal judgment. “The conviction of the fourth to seventh defendants did not occasion any miscarriage of justice to the applicants or any party in this proceeding,” EFCC said. The companies’ motion on notice would be heard on February 24.

EMINENT SURVEYORS

L-R: Vice President of Nigerian Institute of Quantity Surveyor (NIQS) Niyi Ijoguni; President of NIQS, Olayemi Shonubi; Obafemi Onashile; and Tony Ndah, at the organised private sector stakeholders’ consultative forum in Lagos....recently.

2019: Defectors Won’t Get Our Ticket, Says Labour Party Onyebuchi Ezigbo in Abuja The Labour Party (LP) has said last minute’s defectors to the party will not be considered to fly the party’s ticket in 2019 unless they join now to help rebuild the party. The National Chairman of LP, Mr. Mike Omotosho, who made the assertion at a media parley in Abuja at the weekend also weighed in on the controversy over the deployment of $1billion describing the decision to use the money to tackle insecurity in just one area of the country as not proper.” Speaking on the preparations for the next general elections in 2019, Omotosho, assured that Nigerians will see a brand new LP, saying: “We would ensure that everybody is carried along primarily, or more importantly ensure that everybody has a stake in who governs them and how they are being governed.” He sued for all well-meaning Nigerians to join the LP today, so

that together they can all advance a course for the development of our nation. On spate of defections that has hit the country’s political space in recent times, Omotosho said that Labour will do everything possible to discourage the scourge, adding that defectors may not be considered for the party’s ticket in the next general elections. Omotosho said: “We want people that want to stay with us, build the structures with us and hopefully win and when they win, the chances of defecting will be slim if not brought down to zero. “I mean, if you are part of building a house, the chances of pulling down that house will be very slim but if you are there to just rent, you can do whatever you want to do. “So, we are not going to be available as a platform for defectors anymore. They should come in now and this is an opportunity

for credible aspirants to come in, join the party and let’s build the party of our future together and have that desired nation that we all crave for.” While reacting to the ongoing fuel queues in the country, the LP boss said that federal government ought to have responded more decisively to normalise the situation. “I expect a very responsive government to do the something, project ahead of what they think may be the bottlenecks and then begin to provide solutions and prepare plans for it ahead of time. “Even accidents too on the road because a lots of people will be travelling in this season, so we expect responsible government to anticipate what problems are likely going to be and be very proactive and begin to take actions.” While criticising the APC government over the recently approved $1bn to fight insurgency in the North-east, Omotosho believe

that such money should have been used to cater for problem in other regions as well. “The LP is totally concerned, very concerned about the deployment of such huge amount of money to just one area of the country. Yes, they are part of the people of this country, they are part of the people whose interests we represent but you will agree with me that there are lots of cries from other parts of the country as well. “Beyond issue of the deployment of the money, the major concern of people out there is that, how are we sure that these funds will be judiciously spent for what it is meant to be spent for. “If we get all of these details and everybody can truly see not just the willingness to implement, but the ability and capabilities to actually implement in a transparent and accountable way, it becomes a lot easier,” he said

MONDAY-TUESDAY DECEMBER 25-26, 2017 ˾ T H I S D AY

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Ajagu Calls for Steady Electricity, Security Emmanuel Otaru The President, Governing Council, Academy for Entrepreneurial Studies, Nigeria (AES) Excellence Club, Ausbeth Ajagu, has called for investments in ventures that will promote steady electricity and proper security that will make the

country a haven for all and sundry. Ajagu made the call at the club’s eighth annual CEOs’ dinner/awards nite, held in Lagos recently. The theme of the event, ‘Electricity and security: Keys to National Development’, had the former Minister of Power,

Arthur Eze Backs Umeh for Anambra Central Senatorial Race David-Chyddy Eleke in Awka Billionaire oil magnate, Prince Arthur Eze, has in a surprise move backed Chief Victor Umeh in his quest to represent Anambra Central in the Senate. The contentious position which has remained vacant since 2015 after the sacking of Mrs. Uche Ekwunife; would witness a rerun on January 13, 2018. Umeh who was at the residence of Prince Eze for the Ofala festival of his elder brother and monarch of Ukpo kingdom described him as an illustrious Igbo son, worthy to represent Anambra Central senatorial district at the Senate. Umeh who stormed the Okofia Palace, Ukpo, to pay homage to Igwe Robert Eze received a rousing ovation from the

dignitaries present at the event. Eze was the financial backer of the candidate of the All Progressives Congress (APC) for the November 18 gubernatorial election in Anambra State, Dr. Tony Nwoye. Nwoye who was also at the event, in the spirit of sportsmanship, embraced Umeh and assured him of his support. He promised that he would work with him when he gets to the National Assembly. Nwoye is a sitting lawmaker in the House of Representatives. Umeh has been adjudged the only strong candidate for the January 18, 2018 rerun election, after the sacking of PDP candidate, Peter Obi and the withdrawal of APC candidate, Dr. Chris Ngige.

Prof. Bart Nnaji, as the keynote speaker. According to Ajagu, “most developed countries of the world that we admire today are ‘standing tall’ because of uninterrupted electric power supply with little or no security challenge. “The continuous passionate drive of AES Excellence Club to add to national development necessitated the theme of the dinner/ awards nite. He said irrespective of the current electricity challenges in Nigeria, AES focuses on solutions, as there is no problem without solution. “As a key to national development, electricity promotes inventions, advances public and private businesses, helps in the smooth running of governmental and nongovernmental bodies and generally enhances overall economic development,” he said further. The AES president equally

said security guarantees safety of lives and properties which encourages people to invest in diverse forms of economic activities. “Insecurity cannot only discourage development of any nation drastically but would render her lame no matter how developed the nation may be,” he said. Ajagu enjoined “all of us to take securing our homes, churches, mosques, public and private companies, schools, hospitals, highways and the country at large as a matter of priority. I would also appeal to government, private and public sectors and individuals to support security agencies with resources and trainings to guarantee effective security in Nigeria.” At the occasion, the keynote speaker, Nnaji, lamented the dismal electricity generation in the country. He said Brazil currently generates about 130,000 megawatts of electricity and

by 2020s Nigeria’s population which may match that of Brazil may not be able to satisfy her electricity demands compared to Brazil. He however raised the hope of achieving improved electricity in the country by upgrading the obsolete equipment of the Gencos and the Discos. According to him, “electricity is perishable commodity. You must be able to take it to the end users as it is being generated because it cannot be stored.” Nnaji said the Aba model which he spearheaded, if adopted in parts of the country can ensure efficient generation and distribution of electricity. Another solution to the problem he said is by having proper electricity tariff which will make the business profitable for the discos to gencos and so on. Chairman of the occasion, former Minister of External Affairs, Prof. Bolaji Akinyemi, commended the AES Excellence Club for its effort

in repositioning the nation for true greatness. “I enjoin wellmeaning corporations, relevant stakeholders and individuals to support the club in this onerous task of fast-tracking our national development.” He said: “Within the last decade, our country has been experiencing disturbing dimension in security related matters and the near or total collapse of electricity supply nationwide is a bad testimony in our quest to greatness, selfreliance, cum development. Both the government and the people must be serious and determined to do all that is necessary to guarantee maximum security, provision of constant/reliable electricity which are key to national development.” Among the dignitaries who graced the event were two former Heads of State, General Yakubu Gowon, and Ernest Shonekan who received awards among other important awardees.

Stakeholders in Kwara South Disagree over Recall of Senator Ibrahim Hammed Shittu in Ilorin Stakeholders in the Kwara South senatorial district of Kwara State have disagreed over the purported plan to recall the senator representing the senatorial district at the National Assembly, Senator Rafiu Ibrahim, over his alleged under performance since his election into the Senate. Already, a group known as Kwara South Unity Forum has petitioned the Independent National Electoral Commission (INEC) and the National Assembly to commence the process of recalling Ibrahim. Speaking at a press conference in Ijagbo in Oyun Local Government Area of the state yesterday, the president of the forum, John Adegboye, said the decision to recall Ibrahim was borne out of his under -performance and poor representation of the Kwara South senatorial district According to him, “the current system of representation we are experiencing under Ibrahim is archaic, demeaning, dehumanising and also unacceptable. We are no longer under the pre-colonial dispensation where there is indirect rule. The forum said: “We the people of Kwara South are appalled by the fact that a man whom we unanimously elected as a senator to represent us in the 8th Assembly, has now openly declared that he has ‘boss’ other than we the good people of Kwara South, that he takes directives from. “We make bold to call your attention to the physical implications of this show of subservience. In almost three years, where are the federal

projects the senator has attracted to the district?” In his reaction, former transition implementation chairman of Irepodun Local Government Area, Mr. Kashim Adekanye, in an interview with journalists at Ajase-Ipo in Irepodun Local Government Area of the state, described the plan to recall Ibrahim as a cheap talk. Adekanye said: “Anybody can decide to say what he likes. I am aware the senator has brought another developmental project to this constituency. And in our party the All Progressives Congress (APC), we have leaders we are following.” He added: “All of us the followers of Senate President Bukola Saraki are united under that banner. My general advice is for both parties to engage in dialogue to resolve their differences if any.” Also reacting to the group’s intention, students under the auspices of National Association of Students, the state branch of National Association of Kwara State Students (NAKSS) passed confidence vote on the senator. The spokesman of the groups who is also the state chairman of National Association of Nigerian Students (NANS), Abdulkadir Aliyu, said the senator is a man of the people and father of Nigerian students in the constituency. Aliyu added that the senator’s leadership qualities and open door policy had endeared him to the students. He said this can be attested to by the construction of relaxation centre to University of Ilorin students, students empowerment scheme, renovation of Offa Township Hall, free SSCE and JAMB registration.

LOUD WHISPERS’ PUBLIC PRESENTATION

L-R: Deputy National Chairman, South-West APC, Mr. Segun Oni; Deputy High Commissioner, British High Commission in Nigeria, Mrs. Harriet Thompson; Minister of Mines and Steel Development, Dr. Kayode Fayemi; former Minister of Federal Capital Territory, Alhaji Aliyu Modibbo; Author of the Book, Mrs. Bisi Fayemi; Chairman, Editorial Board, THISDAY, Mr. Segun Adeniyi; and Minister of State for Mines and Steel Development, Alhaji Abubakar Bawa, during a book reading titled: Loud Whispers by Mrs. Fayemi, in Abuja... recently Kingsley Adeboye

Ijaws Disown Kinsmen Who Met with Obaseki Adibe Emenyonu in Benin City The Ijaw community Gelegele, Ovia North East Local Government Area of Edo State have dissociated themselves from the purported attacks on some of its leaders who met with Governor Godwin Obaseki over the crisis between Ijaw communities in the state. The ijaws and Benin traditional council have been on war path over the ownership of land and the contention that Ijaw kingdom is not under the Benin traditional council headed by the Oba of Benin. Last Wednesday, a leader from Gelegele, Prince Barbs Pawuru, led other persons in the community to a peace meeting with Obaseki. At the meeting, he commended the governor for the heart-toheart meeting with them and expressed satisfaction with the

outcome of the meeting. Pawuru said Ijaw people are peace-loving people and are ready to work with the state government to ensure law and order in the community. “We highlighted the issues and the governor understood them, we are so satisfied with the outcome of the meeting, we are going home to tell our people we should embrace peace. The Ijaw people are peace loving people, we want peace, but there cannot be peace with injustice,” Paruwa stated. But in a statement yesterday by the Gelegele Elders Council which was signed by their spokesman, Chief Macaulay Ayiwe, said the purported elders who met with the governor was in their individual capacity and not on behalf of the entire Ijaw communities in the state. While noting that they remain committed to the peaceful co-

existence with the government and people of the state, the statement also stressed that they are not averse to peaceful resolution of the problem at hand. According to the statement, “The government in its approach to resolving the fundamental issues that have lingered for some time regarding the Benin Traditional Council, Office of the Governor and the Ijaws in Edo should be treated with caution based on the sensitivity of the matter on ground. According to the statement, “The government in its bid to heal the already created wounds in the heart of the ijaws who supported his election, is fully aware of channels of conflict resolution through constituted bodies and individuals.” The statement listed such bodies and persons to include, traditional council, Ijaw National

Congress (INC), Ijaw Youth Congress (IYC), and elders and community leaders, who were all absent at the purported meeting with the governor. It went further to advise that the position of the ijaws regarding the issues on ground should not be in any way undermined. “We as Ijaws in Edo are in dire need of peace which we believe will help to foster economic growth and development in our long neglected oil rich region and the entire state. “We never intend to hamper or deny the laudable works of Edo State governor, but to consolidate on the good plans promised us during his electioneering. “We look forward to the meeting between government and elders and leaders of Ijaws communities in Edo as promised by the governor,” the statement said.

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MONDAY/TUESDAY DECEMBER 25-26, 2017 T H I S D AY

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T H I S D AY ˾ MONDAY-TUESDAY, DECEMBER 25-26, 2017

MONDAY-TUESDAYSPORTS

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

2017: Best Year of My Career So Far, Says Victor Moses Reveals how coming of Conte to Chelsea changed his life Duro Ikhazuagbe with agency report Nigeria and Chelsea star, Victor Moses, has revealed that the outgoing 2017 remains the best year of his football career so far. Moses has Chelsea’s Italian Manager, Antonio Conte, to thank for the resurgence of his career. In 2017, Moses won an English Premier League medal, got married, established himself as ‘the indispensable man’ in Conte’s Chelsea and above all, helped Nigeria become the first African nation to qualify for 2018 World Cup in Russia from a group that had the likes of Cameroon, Algeria and Zambia. Yesterday, Moses told UK’s Daily Star that all these happened in his life as a result of the chance given to him by Conte at Stamford Bridge. He said: “For me, its definitely the top - my best year so far, on and off the pitch.” Moses had the perseverance to make a success of his Chelsea career despite being continually sent out on loan says a great deal about his character. No-one else at Chelsea can do what he does and without him, Conte’s 3-4-3 system would collapse. After spending the previous three seasons being shipped around on loan, it might be a surprise. Never able to make much of an impression at Liverpool, Stoke City or West Ham United, Moses looked set to be sold by before Conte arrived-

just another youngster who could not cut it at Chelsea. Moses spent most of his career in a more advance role, before settling into a wingback as Conte dramatically tore up previous manuals and stamped his own authority on the club. He said: “Becoming a wing back is not an easy transition. It’s not an easy job and you need stamina to play there. “The manager works me on the training ground, and it’s been really good. When you have someone who is really backing you it gives you confidence,” stressed Moses. The Nigerian forward however picked up an injury against his former club Palace and was out of the side for six weeks in the autumn, but was recalled the moment he was fit again. He added: “It’s been a great year for me. I’ve really enjoyed it, but want to keep it going.” The only hiccup this season however is being squeezed out of the race to become CAF African Player of the Year, behind Gabon’s Pierre-Emerick Aubameyang, Egypt’s Mo Salah and Sengal’s Sadio Mane - a decision that angered the Nigerian Football Federation. Moses would rather claim he was in the running then being over-looked. He added: “I must have done well. It felt good to be nominated. I’ve worked so hard. It’s a bit crazy and shows how far I’ve come.” The present good run of Moses in 2017 has kind of

Victor Moses pale away the memories of the hard way he took to arrive England from Nigeria just as an 11-year-old boy. He got to the Queens land as an asylum seeker after both his mother and father were killed during religious clashes in Kaduna in 2002. According to his account, he was playing football in the streets when his parents lost their lives. A week later, his

remaining family put together enough money to send him to England. Palace under Neil Warnock gave Moses his chance. His natural ability showed he would never have been a mid-level journeyman, with mates claiming he would either play Champions League, or on park pitches. After playing for England from Under-16 to Under-21,

Moses opted for the country of his birth. Now, he’s glad he took that decision which made him an integral part of the team Franco-German coach, Gernot Rohr is putting together to dazzle the world next summer in Russia. “Nigeria was the first African country to qualify for the World Cup. We are like Chelsea (at Super Eagles). We believe in ourselves.

At Stamford Bridge, Moses believes the tough December schedule will not hinder the quest for a trophy this term despite floundering far away from run away league leaders, Manchester City. “Chelsea has loads of games coming up. We’ve got a great squad, and the manager we have here, we know what we are capable of,” concludes Moses.

Ligament Injury May Sideline Onyekuru for Several Months Iheanacho’s Lack of Playing Time Worries Rohr Super Eagles’ gaffer, Gernot Rohr is not happy with the lack of playing time of Nigerian international Kelechi Iheanacho at Leicester City and hopes both the player and club can find a lasting solution to the problem during the winter transfer widow. A source close to the Franco-German coach disclosed to AOIFootball.com in Abuja, saying the coach has spoken to the player and hopes a solution will come out sooner than later. “Iheanacho is a very good player and Nigerians have seen what he can do with the national team but we really don’t know what the problem is at Leicester City but I’m confident the situation will change soon. “The coach has already spoken to the player and I am sure Kelechi will act fast because this is a World Cup year and as Gernot Rohr mentioned, no player has an automatic shirt to the

World Cup, which means if he wants to make the World Cup squad, he has to do the right thing fast before it becomes too late,” the source disclosed. Despite arriving the King Power Stadium in a record deal of around 25m pounds, the Nigerian has only featured 11 times in all competitions for the Foxes, starting just two of those games, while his only Leicester goal came in the third round of the Carabao Cup. The most worrisome news however, is the fact that Iheanacho has failed to feature for Leicester City in their last six Premier League games since he came on as a sub against his former club Manchester City on November 18. With the winter transfer window days away, many Nigerians and indeed fans of Iheanacho will definitely advice the player to consider his options if he must stand a chance of being on the plane to Russia next year.

Super Eagles’ and Anderlecht forward, Henry Onyekuru, is to be operated on his knee after he was forced out of a Belgian league clash. Anderlecht has confirmed he could be out for a long time. Onyekuru was forced out of the clash against former club KAS Eupen on Friday after he collided with the opposing goalkeeper. Scans have now shown he

tore his knee ligaments and could be out for several months, according to Anderlecht. “Extensive scans have now shown he tore his knee ligaments,” Anderlecht announced yesterday. “He will soon be operated on and the medical staff are in close contact with their counterparts at Everton to determine where the surgery will be.”

Onyekuru is on a seasonlong loan at Anderlecht from Everton. He has scored a total of nine goals thus far and was hoping such form will help him stake a claim for a place at next year’s World Cup with Nigeria. 2017 was an interesting year for the 20- year-old as he made remarkable progress in his budding career. The player shone for KAS Eupen

in Belgium, scoring 22 goals in the 2016/2017 season which saw him join English Premier League side Everton for 7 million pounds. The former Aspire Academy student was then loaned back to Belgian Champions Anderlecht where he has done so well this season, featuring in the Champions League and is the team’s top scorer so far this season with eight goals.

GOTV BOXING NIGHT 13

Joe Boy’s Egyptian Opponent for ABU Title Arrives Abdulrahim Ahmed, the Egyptian and Mediterranean champion billed to fight Nigeria’s Oto “Joe Boy” Joseph for the African Boxing Union (ABU) lightweight title fight, arrived Lagos yesterday aboard an Egypt Air flight from Cairo. The fight is one of the seven billed for GOtv Boxing Night 13, scheduled to hold on December 26 at Landmark Event Centre, Victoria Island, Lagos. Ahmed arrived in the company of his manager, Deif

Mohamed Shabban and his interpreter. He boasted that he would not just win the fight. But will win the N2.5 million attached to the best boxer prize at the event. “I will win the title and the prize money,” boasted the Egyptian. Olaide “Fijaborn “ Fijabi will fight Shadrack “Punch to Punch “ Kobero for the ABU light welterweight title at the event, which will see musical

performances by Small Doctor, Falz, Simi and Reekado Banks. Tickets for the event are available at ariiyatickets. com, SLOT and Ebeano Supermarket outlets, Freedom Park and National Stadium, Lagos. Free bus rides are available to take ticket -holding fans to the event venue from the National Stadium and back at the end of the show. In the middleweight category, Nigeria’s Abolaji

Rasheed will defend his West African Boxing Union title against Arye Ayitteh. In another light welterweight bout, Rilwan “Baby Face” Babatunde will fight Chijioke “ Painless’ Nigige for the national title. Three challenge bouts complete the line up. The best boxer at the event will go home with N2.5 million, while the runners-up will go home with N1million and N500, 000 respectively.

Monday-Tuesday December 25-26, 2017

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Price: N250

MISSILE Saraki to Senators

“Our party (All Progressives Congress) does not do things like that. We would not spend money that does not follow due process. I am assuring you that the money would not be spent until we come back and debate itâ€? – Senate President, Bukola Saraki shutting down agitations by senators demanding debate on the $1 billion withdrawal request by President Muhammadu Buhari from the Excess Crude Account (ECA) to ďŹ ght insurgency in the North-east.

BENMURRAYBRUCE Healing a Nation Scarred by Injustice MAKING COMMON SENSE

ben.murraybruce@thisdaylive.com

I

want to speak to Nigeria on the topic ‘Healing a Nation Scarred by Injustice’. In this day when Nigerian citizens prefer to face a perilous journey through the Sahara Desert, then risk slavery in Libya and afterwards death by drowning in the Mediterranean Sea, we have to ask ourselves why with all these dangers, more than half a million Nigerians still want to make the journey and leave this nation with all her riches, minerals and opportunities. I was thinking about it recently. Obviously, because of the station of life that I find myself in, I exist in a reality distortion zone and am generally blind to what drives these Nigerians to make such a perilous journey. It is not just me. Most of Nigeria’s elite exist in that zone. But then recently, I have been crisscrossing Nigeria and meeting everyday people and becoming more intimate with the issues they face and the scales have fallen from my eyes. I listed three perils that Nigerians face if they decide to risk their lives by immigrating to Europe through the Sahara Desert. I never knew that to many of these people, if not all, the dangers are more if they remain in Nigeria. In Nigeria, they face Boko Haram terrorism, and if they escape that, they may encounter killer herdsmen. But even if they do not meet death by killer herdsmen, they may become victims of the Special Anti-Robbery Squad or SARS, who many times stereotype Nigerian youths as armed robbers or Internet fraudsters. I have not talked of kidnappers, militants, one checkpoint per one kilometer or the menace of one chance robbers. In fact, it is a jungle out there! Social injustice is so rife in Nigeria today that it is hard to find a Nigerian who is not in an abusive relationship with Nigeria. And year after year, we keep on treating the symptoms instead of curing the disease. Nigeria is not working in her current state. Our population is growing far faster than our economy and in two months time the United Nations projects that we will overtake India as the nation with the highest population of extremely poor people. Yet India has eight times our population. It should be obvious by now that if we do not renegotiate Nigeria, if

President Muhammadu Buhari

Vice-President Yemi Osinbajo

we do not restructure, we will just keep reacting from one problem to the other until one day we end up with Armageddon. Recently some people said that Nigeria does not need restructuring and I laughed. How can you say a nation with one of the highest numbers of private jet owners/users and yet without its own national line, does not need restructuring? Obviously anyone with such a view is living in denial! Nigeria needs restructuring to

foster peaceful and prosperous coexistence between her various people because the alternative to coexistence is not something we should ever contemplate. If we don’t promote peaceful coexistence we will eventually get violent co-destruction. So how do we heal a nation scarred by injustice? By restructuring her according to the principles of justice so that we do not have a situation whereby Lagos generates 55 per cent of Nigeria’s Value Added Tax yet other states get a larger share of

We are spending 70 per cent of our budget to pay salaries to less than 1 per cent of our population and when we don’t have the money to pay we go a-borrowing instead of reducing the size of our civil service‌ a leader who knows that he is never going to repay what he has borrowed will continue to borrow so that future generations will repay the debt that he has spent

the revenue than Lagos State. This is even when some of those states ban the sale of some of the items that make up the 55% from Lagos. You cannot rob Peter to pay Paul and expect Peter to be happy. And of course Paul will not want the situation to change. But Paul must realize that one day Peter will have nothing left to rob and then Paul will be faced with a situation where both he and Peter are penniless. We have no choice to restructure now that the center can still hold. We should not wait for things to fall apart because the center no longer holds. We need to restructure Nigeria so that we do not turn away an applicant to the civil service from Anambra because of quota system, meanwhile, this individual has the science, technology, engineering or mathematics degrees that Nigeria needs to grow meanwhile we hurriedly hire someone who has a degree in religion because he is from a state with a greater quota. Only restructuring will create the atmosphere for Nigeria to thrive. But denial of restructuring will create the atmosphere for Nigeria to die. That is why we are spending 70 per cent of our budget to pay salaries to less than 1 per cent of our population and when we don’t have the money to pay we go a-borrowing instead of reducing the size of our civil service. Of course a leader who knows that he is never going to repay what he has borrowed will continue to borrow so that future generations will repay the debt that he has spent but if we restructure we can make sure that instead of that we have a situation where elders plant trees whose shade they know they will never enjoy. Ladies and gentlemen, let me not take even more of your time belaboring an obvious issue. The answer to the question that I have been asked to speak about is restructuring and thank God the report of the 2014 National Conference is available. If we implement it and other reports like the Orosanye Report, we will bring justice to Nigeria speedily and heal our land and our people. t 4FOBUPS .VSSBZ #SVDF JT UIF 'PVOEFS PG UIF 4JMWFSCJSE (SPVQ BOE UIF 4FOBUPS SFQSFTFOUJOH #BZFMTB &BTU JO UIF /BUJPOBM "TTFNCMZ

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