WEDNESDAY 31ST OCTOBER 2018 by THISDAY Newspapers Ltd

South-south Govs Meet President over Subsidy’s Effect on Derivation NNPC: Nigeria earns $47.257bn from oil in 13 months Forecloses upward review of price of petrol Omololu Ogunmade and Chineme Okafor in Abuja President Muhammadu Buhari yesterday in the Presidential Villa held a closed-door meeting with four of the six

South-south governors. The meeting which held between 3 and 4p.m., was attended by Governors Nyesom Wike (Rivers), Seriake Dickson (Bayelsa), Udom Emmanuel (Akwa Ibom)

and Ifeanyi Okowa (Delta). After the meeting, Dickson who spoke on behalf of the governors, failed to disclose the purpose of the meeting. He also failed to give insight into discussions in the meeting.

Instead, the governor said they only came to see the president over what he described as pertinent issues about Nigeria and the Niger Delta. He was, however, swift

to add that the meeting had nothing to do with party matters. He said: "My colleagues and I came to have a meeting with the president on issues that are pertinent to Nigeria

and South-south states and we had a robust discussion. Thank you. It's not about APC or PDP." However, THISDAY Continued on page 8

MAN Seeks Enforcement of EO3 on Patronage of Local Goods… Page 10 Wednesday 31 October, 2018 Vol 23. No 8596. Price: N250

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Buhari Vows to Punish Perpetrators of Kaduna Violence... Page 8

Minimum Wage Dispute Deepens as Labour Rejects Govs’ N22,500 Offer Workers hold strike rehearsal rally Prepare to down tools on Tuesday Onyebuchi Ezigbo in Abuja The dispute over workers' quest for an upward review of minimum wage in the country became protracted yesterday as the nation’s 36 governors emerged from their meeting in Abuja and said they had agreed to N22,500 as the lowest pay cheque for workers. But labour responded swiftly

last night that the governors’ offer, N7,500 short of its demand for N30,000, was an exercise in futility, warning that the strike scheduled for Tuesday next week would proceed as planned. “The N30,000 figure is not adjustable,” Mr. Denja Yakubu, Assistant Secretary (Information), at the Continued on page 10

Many Injured as Shiites Protests Persist Police arrest 400

Olawale Ajimotokan and Alex Enumah in Abuja

A police vehicle was burned while scores of people were injured yesterday in Wuse 2, Abuja, during the violent protest by members of the Islamic Movement of Nigeria (IMN) otherwise known as Shiites. The police in a statement last night said 400 persons had been arrested in connection with the protests that started at the weekend.

The adherents of the Shiite sect have since Saturday engaged security operatives in bloody confrontations in protest against the continued detention of their spiritual leader, Sheikh Ibrahim ElZakzaky, by the Department of State Services (DSS) without regard to the several court orders asking for his release. They have been gathered from all over the country for the past three days for the Continued on page 10

Oando Posts N10.4bn Proﬁt after Tax... Page 51

SOUTH-SOUTH MATTER... L-R: Governors Seriake Dickson (Bayelsa), Udom Emmanuel (Akwa Ibom), Ifeanyi Okowa (Delta) and Nyesom Wike (Rivers) and President Muhammadu Buhari, during the visit of the South-south governors to the president, in Abuja…yesterday godwin omoigui

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Buhari Vows to Punish Perpetrators of Kaduna Violence Considers compensation for 2011 post-election crisis victims John Shiklam in Kaduna President Muhammadu Buhari yesterday in Kaduna vowed to deal decisively with the perpetrators of recent violence in Kaduna that claimed over 60 lives. The president also said the federal government would consider payment of compensation to the victims of the 2011 post-election violence, having been told by the state Governor, Malam Nasir el-Rufai, that the issue was part of the cause of the recent violence. Speaking during a meeting with traditional and religious leaders at the Indoor Sports Hall of the Murtala Square, Kaduna, over the violence that rocked the state last week, the president said this time around, those responsible for the killings would not get away with the crime. He said, “The federal government will take strongest measures possible to punish

perpetrators of these crimes. “If, in the past they got away scot free, we shall now hold everyone to account for these latest killings. Let it be clear to all that individuals and communities have obligations to comply with the law and uphold peace.” These obligations, according to the president, “include respecting the rights of others to live wherever they choose; to worship freely and to pursue lawful livelihoods anywhere in this country,” adding, “these are constitutional and human rights that we as a government and people must uphold and defend.” Buhari expressed sadness over the loss of lives and property during these tragic incidents in the state, saying it was unacceptable that criminal elements could visit on citizens the wanton killings recorded in the Kasuwan Magani incident of October 18, 2018 and the unrest around Kaduna metropolis a few days later.

Buhari also commiserated with the government and people of the state over the killing of a traditional ruler, the Agom Adara, Mr. Maiwada Raphael Galadima, who was killed by his abductors after collecting a N10 million ransom. He assured the people that the federal government would continue to work to ensure that more security assets were recruited and deployed across the country to protect all citizens going about their lawful business and to reinforce the authority of the government. He commended the efforts of the Kaduna State Government in responding to, and managing the crisis. “It is my earnest appeal to all who call Kaduna home to do their best to uphold peace in their respective communities. Chaos and anarchy tend to worsen and exacerbate whatever issues are agitating a community,” the

president said. According to him, violence shatters and divides people and stifles the prospect of any community that succumbs to its tragic logic. The president said the federal government was doing its best to develop human capital and address poverty and inequality in all parts of the country. “Providing decent education and health are my priority goals. I am delighted with the successful collaboration between federal institutions like the Bank of Industry and the Kaduna State Government to provide vocational and entrepreneurship skills, and low-interest credit to expand economic opportunities,” he said, adding, “I urge Kaduna State Government not to relent in its focus on expanding equality of opportunity, promoting job creation and upholding law and order.” Speaking earlier, el-Rufai, lamented the persistent

violence in the state for the past 40 years. He said, “Your Excellency, what we are battling in Kaduna State is the legacy of nearly 40 years of violence and impunity. “The current government of Kaduna State is persuaded that it has a solemn obligation to lead the state towards overcoming the tragic legacy of strife. “Kaduna State is not the only diverse place on this planet, and the people who live in it must not remain trapped in a whirl of hate and division.” Narrating the history of violence in the state, he said the first ethno-religious clash in the state happened in Kasuwan Magani in 1980. He noted that many other clashes had happened without the perpetrators being sufficiently sanctioned. This, according to him, had “resulted in breeding and empowering constituencies of impunity that believe

that violence pays and that violence has no negative consequence for the planners and perpetrators”. He said the state government intended to enforce the various provisions of the Riots Damage Law of 1958, the Collective Punishment Law of 1915 and the Peace Preservation Law of 1917 which impose costs on communities that permit violence in their midst. He commended the president for the deployment of security forces to the state to enforce law and order. The meeting, which lasted for about an hour, was attended by the Emir of Zazzau, Alhaji Shehu Idris, Chairman of the Kaduna State chapter of Christian Association of Nigeria (CAN), Bishop George Dodo and the Secretary-General of the Jama’atul Nasril Islam (JNI), Dr. Khalid Aliyu, among several traditional and religious leaders from the communities affected by the violence.

Nigeria, bearing the associated burdens, it had no plan to review the market prices of products for now. He thus cautioned people he described as rumour mongers to be wary of the impacts their acts could cause on prices of petroleum products especially petrol as the festive period draws near. According to him, if not checked, the insinuation of unsubstantiated price review could lead to artificial scarcity and hoarding of products by consumers which in turn may result in unwarranted queues and suffering of Nigerians at fuel stations. He further asked members of the public to report to the offices of the Department of Petroleum Resources (DPR) nationwide any station which sells petrol above the N145 per litre recommended price, saying the DPR had the mandate to monitor and regulate activities in the industry. Ughamadu said the recent statement of the corporation’s Group Managing Director, Dr. Maikanti Baru that NNPC had 37 days stock of petrol subsists, and that NNPC has mapped out strategies to ensure that Nigerians have a hitch-free festive period. Further, in another statement, Ughamadu, disclosed that NNPC’s shipping subsidiary, NIDAS Shipping Services, has got back into the business of international shipment of crude oil and petroleum products, seven years after falling out of reckoning in the global oil freighting trade. He said the re-entry of NIDAS into the global petroleum shipping business was in tandem with the ongoing strategic re-engineering of some NNPC subsidiaries to ensure multiple income streams and value addition to the corporation. According to him, as a first step to regain its market position, NIDAS has established a robust chartering and operation desk in its United Kingdom (UK) office to help it secure sea-going vessels from spot market and foster strong

competitive edge. He explained that already, the company’s presence had begun to generate some positive traction in the international freight space as global tanker fixture’s report last week acknowledged the chartering of LRI tanker, MV Atlantica Bridge by NIDAS to load jet fuel from El Dekheila Port, Egypt for delivery to Nigeria for Duke Oil. The fixture report it said also captured NIDAS booking of tanker Res Cogitans to load Mercuria’s gasoline cargo for early-November loading from Europe’s ARA (AmsterdamRotterdam-Antwerp) region to Offshore Lagos. NNPC said that as part of strategy to ensure effective participation in the entire supply value chain, NIDAS would optimise right of first refusal offer in the NNPC annual crude oil term and Direct-Sale-Direct Purchase (DSDP) agreements with off-takers. It noted that under the terms of the deal, the off-takers are obligated to offer the NNPC shipping subsidiary the right of first refusal in freighting of cargoes, adding that the longterm aspiration of the company is to own and operate fleet to secure a significant market share in the global shipping market.

SOUTH-SOUTH GOVS MEET PRESIDENT OVER SUBSIDY’S EFFECT ON DERIVATION sources that were privy to the meeting said it was to discuss the debilitating effect of Nigeria National Petroleum Corporation (NNPC) huge spending on petrol subsidy on the derivation that should accrue to the oil-producing states. According to the sources, huge subsidy payment, which were being made before oil proceeds are remitted to the Federation Account, were adversely affecting the 13 per cent derivation that should accrue to the oil-bearing states. “The states are suffering because their derivation allocation had reduced substantially, and they felt that this had to stop, particularly because the practice is essentially unconstitutional, therefore, illegal,” a source told THISDAY, adding, “They felt they could return to the Supreme Court to test the legality of the practice, they felt it was better to discuss it with the president first.” The sources said Buhari told the governors that he would look into the matter, pointing out that it was a sensitive matter that needed a careful consideration. As at August this year, the national oil corporation’s subsidy had risen to N3billion daily. Another THISDAY source said a recent Supreme Court landmark judgment, which had ordered the federal government to adjust its share of proceeds from the sale of crude oil whenever the price exceeds $20 per barrel might have also been discussed. This belief was spurred by the invitation of the AttorneyGeneral of the Federation and Minister of Justice, Mr. Abubakar Malami, to the meeting after it had taken off. The Supreme Court had on October 18, ruled on a suit brought by the AttorneysGeneral of Rivers, Bayelsa and Akwa Ibom States on the terms of settlement between AGF and the plaintiffs. The seven-man panel of the Supreme Court led by the Chief Justice of the Federation, Justice Walter Onnoghen, had in a unanimous judgment, ruled that 13 per cent

derivation accruable to oil producing states should be paid upon recovery as provided for in Section 162 of the 1999 Constitution (as amended). The plaintiffs, that is, the Attorneys-General of Akwa Ibom State, Mr. Uwemedimo Nwoko; Bayelsa State, Mr. Wodu Kemasukde; and the Rivers State, Emmanuel Aguma (SAN), now deceased, had in November 2017 sought the apex court's interpretation of Section 16(1) of the Deep Offshore and Inland Basin Production Sharing Contract Act in suit number SC964/2016 filed on their behalf by Mr. Lucius Nwosu (SAN). This section places an obligation on the federal government to adjust the shares of crude oil revenue accruable to the federation whenever the price exceeds $20 per barrel. The plaintiffs had asked the court to determine if the federal government was not obliged to abide by the provision of the constitution as the grund norm of the land. Accordingly, the matter was resolved in their favour as the eminent jurists asked the federal government to accordingly adjust the sharing formula once the price of crude oil exceeds $20 per barrel. In a swift reaction to the judgment, Dickson had through his media aide, Fidelis Soriwei, praised the apex court for its courage to uphold the tenets of the constitution, saying it had further rekindled the confidence of the people of the Niger Delta whom he said had been deprived of their rights, in the judiciary. He said, “We commend the Supreme Court of Nigeria for upholding the rule of law. The courageous intervention of the court in this case and other cases is what is needed to bring confidence to the long suffering people and communities of the Niger Delta and the country at large. “This judgment shows clearly that the judiciary is ready and has the courage in deciding cases to uphold the rights of oppressed people. We call on other courts in the judicial system to rise to the

occasion in order to give the assurance that oil majors and oil block owners operating in our communities will respect the laws of the land.” It was therefore believed that the meeting was meant to work out the modalities for the new sharing agreement.

NNPC: Nigeria Earns $47.257bn from Oil in 13 Months Meanwhile, a new report by the Nigerian National Petroleum Corporation (NNPC) has revealed that between May 2017 and May 2018, Nigeria earned $47,257,178,735 from crude oil, representing an increase of $13,112,090,598 from the $34,145,088,137 the country earned between May 2016 and May 2017. This is coming as the corporation has also clarified that even though it has been bearing the high cost of importation of petrol as the sole importer of the product since October 2017, it has no plan to review upwards, the N145 per litre price of the commodity. The NNPC in a summarised copy of its June 2018 monthly operations and financial report, which THISDAY in Abuja sighted yesterday, disclosed that the money was the value for 774,166,187 million barrels (mb) of crude oil that was produced from oil fields. The figures, production and revenue, were, however, different from what was recorded by the country between May 2016 and May 2017. According to the corporation’s records for May 2016 and May 2017, oil production was 685,800,421mb, with the accrued revenue amounting to $34,145,088,137. The NNPC explained in the June 2018 report which also showed a difference of about N11 billion in its trading profits between the months of May and June 2018, that the $47,257,178,735 earned was however shared between the Nigerian government, International Oil Companies (IOCs) and alternative

financing (AF) entities. The NNPC’s report which is yet to be published on its webpage, came at a time the corporation said the federal government has no plans to review the pump price of petrol it currently subsidises in the country. In the report, the corporation indicated that the federal government within the period got $14,991,801,512 as its share of the oil revenue from 247,413,205mb of oil it lifted as against $10,980,402,262 it previously got for the same period from lifting 220,199,527mb of oil. The IOCs, which included independent producers and NNPC’s subsidiary – the Nigerian Petroleum Development Company (NPDC), got $30,354,101,114 as their share from lifting 497,817,456mb of oil, different from $22,681,908,242 they previously got from lifting 445,983,713mb of oil. For AF entities, the NNPC report stated that they got $1,911,276,109 from their lifting of 28,935,026mb of oil for the period which is different from $482,777,634 they got from lifting 9,617,181mb of oil between May 2016 and May 2017. The NNPC’s report also indicated the corporation recorded a trading surplus of N7.17 billion which was N10.97 billion less than the N18.12 billion it said it recorded as profit in the previous month of May 2018. NNPC in this regards blamed the decline in oil production and liftings of NPDC for the revenue shortfall.

NNPC Forecloses Review of Price of Petrol Meanwhile, the NNPC in a statement from its Group General Manager, Public Affairs, Mr. Ndu Ughamadu, has stated that the federal government has no plan to review prices of petrol either downwards or upwards. Ughamadu added that despite the fact that NNPC, since October, 2017, had been the sole importer of petrol into

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NEWS

MAN Seeks Enforcement of EO3 on Patronage of Local Goods Chris Uba The Manufacturers Association of Nigeria (MAN) has urged the federal government to urgently monitor and enforce the Executive Orders 003 and 005 on patronage of made-inNigeria products by Ministries, Departments and Agencies (MDAs) in line with its policy to promote locally-made products as part of the ongoing economic diversification. MAN, whose appeal is contained in a report by its Director-General, Mr. Segun Ajayi-Kadir, to the association’s council, also urged the federal government to “direct MDAs to apply the 30 per cent Margin of Preference (MoP) in procurement decision as recommended by MAN.” State and local governments, MAN said, should also be encouraged to embrace Made-in-Nigeria products by replicating the decision of the federal government in this regard. It also stressed the need to sustain, monitor and enforce the 40 per cent of Micro, Small and Medium Enterprises (MSMEs) preferential participation rate in public procurement as recommended in the Executive

Order 003. MAN wants the federal government to create the sustainable platform through which the general public would be continuously educated on the need to jettison the current penchant for foreign products and patronise locally manufactured products. “To protect the local manufacturers, the federal government should closely monitor smuggling, adulteration, counterfeiting and cloning activities in the country with stricter penalty on those found culpable of the offences,” it stated, even as it blamed low patronage of made-in-Nigeria products as partly responsible for the lack-lustre performance of the manufacturing industry sector of the Nigerian economy, which it said, was on the verge of recession. MAN had at its last annual general meeting in Lagos, noted that unsold inventory of finished goods produced by members had been rising, an indication of low patronage. In naira terms, unsold inventory rose to N161.53 billion in the second half of 2017 from N35.42 billion recorded in the corresponding period of 2017,

Ajayi-Kadir indication of N126.11 billion increase over the period, adding that it also increased by N1.94 billion or 1.2 per cent when compared with N159.59 billion recorded in the preceding half. According to the report, over all, unsold inventory of manufactured goods in Nigeria totalled N321.12 billion in 2017 when compared with N90.43 billion in 2016, indicating an increase of N230.77 billion or 255.19 percentage point. As part of efforts to boost local production of goods in the country, the organised private sector (OPS) comprising Nigeria Employers’ Consultative Association (NECA), Manufacturers Association

of Nigeria (MAN), Nigerian Chambers of Commerce, Industries, Mines & Agriculture (NACCIMA), Nigerian Association of Small and Medium Scale Enterprises (NASME) and Nigerian Association of Small Scale Industrialists (NASSI),had told the federal government to adjust the Bureau of Public Procurement Act for local companies/suppliers to supply goods worth N30 billion to the ministries, departments and agencies (MDAs), from its current N1 billion. The move may not be unconnected with the previous lamentation that greeted the non-compliance of the policy on patronage of made-inNigeria products and lack of enforcement of the procurement Act by MDAs. The OPS also, then, stated that a realistic margin of preference of about 60 per cent should be effectively implemented for all procurements by the three tiers of government in line with the BPP Act. The immediate past President of MAN, Dr. Frank Udemba Jacobs, stated that the adjustment in the procurement Act on supply

of local goods to MDAs by local manufacturers became necessary in line with the Federal Government’s import substitution and backward integration programme to diversify the economy, adding considering the size of Nigeria and the resources at the disposal of government at all levels, fiscal behaviour had a major impact in driving national demand. Jacobs stated that government should, therefore, continue to support its policy on patronising made-in-Nigeria products by monitoring the MDAs to ensure compliance with the policy. He said, “We urge the full implementation of the relevant portion of the Procurement Act 2006 (that aims at boosting local production) and also call for the review of the Act to cover states and local governments functionaries. “Our expenditure in favour of imported products is detrimental to the growth of local industry as it increases employment in the country of origin and simultaneously increases poverty in our land. “We, therefore, thank the federal government for instituting the policy on patronage of ‘Made-in-Nigeria’

products and urge that the directive should be enforced.” Besides, the MAN president explained that Micro, Small and Medium Enterprises (MSMEs) should be encouraged to participate in all public procurement through instituting a minimum of 40 per cent participation rate to boost their productivity in the manufacturing sector. Speaking on why Nigerian goods are not competitive with their foreign counterparts, MAN noted that factors bordering on hostile operating environment were responsible. “Everybody in this country understands the difficult condition under which manufacturers operate. The power is unstable and inadequate and very expensive when compared to what is obtained in other climes,” it said. It said that a survey by the association revealed that the federal government has continued patronage of foreign goods at the detriment of Made-in-Nigeria products is causing the country’s local manufacturers about $3 billion yearly, noting that government remained the largest single spender in the world.

us not succumb to the threat of no work, no pay.’’

Addressing workers yesterday during a rally in Abuja, President of the NLC, Mr. Ayuba Wabba, described the claim by some state governors that they will not be able to pay as erroneous. He said, "We cannot be creating wealth while we live in abject poverty or create wealth while the resources are diverted. "They used us to collect bailout and they didn’t pay. The issue is not because there is no resources, but because they want more resources. In one state, the moment the governor received the money, he went and bought ten bullet proof cars." Wabba accused government leaders of selfishness, adding that they have ensured that salaries of political office holders were increased by 900 per cent, while giving workers pittance. Speaking on the resolve by labour to proceed with the strike as from Tuesday, Wabba said that no amount of threat or intimidation can stop the workers from fighting for their right. According to him, "They are coming up with no work, no pay and we are saying no pay, no work, no minimum wage, no work. Every Nigerian worker must be ready because this is a battle with a difference. "When they increased the price of fuel, they put the issue of

minimum wage on the table. We will not allow a situation where they increase their own and ignore us. During the last increase, salaries of political office holders were increased by 900 per cent, while giving us pittance." On his part, President of TUC, Mr. Bobboi Kaigama, said that the N30,000 minimum wage being demanded by the workers was not too much when compared to the inflation rate in country. According to Kaigama, if the government says that N30,000 is too much, they should be prepared to pay an equivalent of N18,000 as at 2011 relative to the dollar when dollars was N150. Kaigama said, "It is time to show the political elites that enough is enough. It is either they give us our demand or we rally throughout the country. We must show that Nigerian workers have the weapon which is our PVC and we will use it to declare war against our political leaders and defeat our enemies. "We are starting our mobilisation today and in the next few months, we will be prepared to use our PVC. If they think that one worker who can mobilise 10 persons means nothing, we will show them that there is no going back. It is either you give us N30,000 or nothing because negotiations have ended. “Our struggle starts today and will be on till February 2019. Let

El-Zakzaky Islamic Movement Groups are now on Red-alert to deal decisively in accordance with the law and prevent the group from causing breakdown of law and order in those states. The statement read, "Consequent on the disturbance of public peace, unprovoked attack on police personnel and the setting ablaze of police vehicle in the Federal Capital Territory (FCT), Abuja today, 30th October, 2018 by members of the El-Zakzaky Islamic Movement of Nigeria, the IG, Ibrahim K. Idris, has placed the Commissioners of Police and their personnel in states with presence of El-Zakzaky Islamic Movement on Red-alert. "They are to deal decisively in accordance with the law with the sect and prevent the group

from causing breakdown of law and order in those states. "The IG condemns the attack and has directed a total clampdown on the perpetrators within the ambit of the law, thorough investigation and prosecution of the members of the El-Zakzaky Islamic Movement of Nigeria, now in Police custody." Moshood added that 400 members of the group arrested yesterday for disturbance of public peace and law and order in the FCT as well as the burning of police vehicle, and those arrested with 31 bottles of petrol bombs and other dangerous weapons, now in police custody, will be arraigned in court on completion of investigation for acts and offences prohibited under the Terrorism Prevention Amendment

MINIMUM WAGE DISPUTE DEEPENS AS LABOUR RE JECTS GOVS’ N22,500 OFFER Nigerian Labour Congress (NLC) Headquarters, Abuja told THISDAY last night, that none of the tripartite stakeholders, including government, organised labour and organised private sector, could vary the figure he said had been agreed upon. “We agreed to the N30,000 figure as the minimum wage at our last meeting. Sixteen of the governors were at the meeting, where the agreement was reached. Whatever they are saying now is a joke and self-deceit,” he said. Labour had embarked on rallies in several states of the federation yesterday to demonstrate its resolve to down tools on Tuesday unless the government met its demand for N30,000. But the governors at the end of their three-hour meeting under the auspices of the Nigeria Governors Forum (NGF) in Abuja last night said they would only be able to pay N22,500. The NGF Chairman and Zamfara State Governor, Alhaji Abdulaziz Yari, who announced the decision of the governors said it was based on ability and capacity to pay, as well as in reflection to all other developmental needs in each state. He also said that the governors' decision was based on the principle that any acceptable minimum wage must be done in

such a way that total personnel cost does not exceed 50 per cent of the revenue available to each state. Yari said the governors were further guided by Section 3 of the National Salaries Income and Wages Commission Act, which requires that any wage increase must take cognizance of the state of the national economy. "It is in this sense that we feel strongly that our acceptable minimum wage must be done in such a way that total personnel cost does not exceed 50 per cent of the revenue available to each state. Governors, therefore, agreed to pay a national minimum wage of N22,500," he said. In the communiqué, the governors said they considered that welfare of all Nigerians is of ultimate concern to government and that resources of the state should not just be used for salaries, since the percentage of salaried workers is not more than five per cent of the total working population. The governors communique stated, "Following a meeting of the Nigeria Governors' Forum where we deliberated on the National Minimum Wage after a briefing from our representatives at the Tripartite Committee, we submit as follows: "The welfare of all Nigerians is our ultimate concern. In all our States, we are concerned about the deteriorating economic situation experienced by the vulnerable segment of our

population. "In agreeing to a National Minimum Wage however, the Forum is even more concerned about development, particularly in the health, education and infrastructure spheres. “It is therefore our considered position that since the percentage of salaried workers is not more than five per cent of the total working population, our position must not just reflect a figure, but also a sustainable strategy based on ability and capacity to pay, as well as reflective of all our developmental needs in each State. “After all, Section 3 of the National Salaries Income and Wages Commission Act provides that "the Commission shall recommend a proposition of income growth which should be initiated for wage increase and also examined the salary structure in public and private sector with reasonable features of relativity and maximum levels which are in consonance with the national economy." The Minister of Labour and Employment, Senator Chris Ngige, and the Minister of Budget and National Planning, Senator Udo Udoma, attended the meeting. Some of the governors at yesterday's emergency meeting were Kebbi, Ebonyi, Imo, Lagos, Plateau, Osun, Ekiti and Ogun. Nasarawa governor was represented by his deputy. No representative of the

organised labour was at the meeting as was earlier indicated.

Labour Holds Rally

NACCIMA Denies Agreeing to N30,000 Also yesterday, the Nigeria Association of Chambers of Commerce and Industry, Mines and Agriculture (NACCIMA) disassociated itself from the stand by the organised labour that there was an agreement over N30, 000 proposed new minimum wage. In a statement issued yesterday by the President of NACCIMA, Mr. M. Dankaka, the body said there was no time NACCIMA agreed to such a figure. It said, "We refer to the media reports on the above stated national minimum wage figure and the proposed industrial actions by organized labour over a misconceived agreement on the sum of N30.000.00 as the new minimum wage for Nigerian workers. “We were perplexed to learn that the sum/agreement was an outcome of the workings of the Tripartite Committee on National Minimum Wage (TCNMW), which we are a member. "At no time did NACCIMA agree to such a figure. Rather the last figure offered by us as part of the Organised Private Sector (OPS), was the sum of N22,000 and negotiation was still on-going.”

MANY INJURED AS SHIITES PROTESTS PERSIST observance of the annual Arbaeen religious trek. The crisis has resulted in a heavy toll since it started, with about 20 followers of the sect reportedly fatally shot in clashes with soldiers in Zuba, Nyanya and Kugbo areas of Abuja. Yesterday, the unrest turned bloody in Wuse 2, Abuja, with several persons injured after policemen fired live bullets and used teargas to disperse the Shiite procession through the heart of the nation's capital. Many of the protesters and some members of the public, were injured as a result of the flare up. We gathered yesterday that the members of the Islamic group were marching towards Abuja Central Business District, before they were intercepted

by a joint team of the police and soldiers. The sect retaliated by pelting stones and other objects at the security operatives. The Amnesty Nigeria referred to the incident on its Twitter handle saying: “Reports of riot police shooting and throwing tear gas at #IMN protesters seeking the release of their leader in Wuse 2, and some parts of Central Area.” adding: “#IMN Protests so far this week: Day One: Saturday: At least 3 killed by soldiers at Zuba. Day Two: Monday: Many murdered by soldiers and police in Maraba-Nyanya axis. Day Three: Tuesday: Shooting and tear gas on protesters by the police around Wuse 2.” Meanwhile, the police disclosed last night that no

less than 400 members of the Islamic Movement in Nigeria (IMN) were arrested in the third day of their protest in Abuja. Meanwhile, the Inspector General of Police, (IG), Ibrahim Idris, has condemned what he described as unprovoked attack on police personnel and the setting ablaze of a police vehicle by the sect during their protest yesterday in Abuja. Consequently, Idris directed a total clamp-down on the perpetrators, thorough investigation and prosecution of the members of the El-Zakzaky Islamic Movement of Nigeria, now in police custody. A statement by the Force Public Relations Officer, DCP Jimoh Moshood, last night in Abuja, said, Commissioners of Police in states with presence of

Act 2013. He stressed that the Force would not condone lawlessness and disturbance of public peace by any group(s) under any guise that runs contrary to the constitutional provisions and other enabling laws on preservation of law and order and protection of lives and property of all Nigerians. While urging residents of the FCT to be vigilant and go about their lawful engagements without fear or apprehension, as the situation has been fully brought under control, Moshood warned that the full weight of the law would be applied on perpetrators of violence and lawlessness that can lead to breach of the peace, and law and order anywhere in the country.

THISDAYtWEDNESDAY OCTOBER 31, 2018

WEDNESDAY OCTOBER 31, 2018 ˾ T H I S D AY

NEWS

Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Your Threats Won’t Gag Nigerians, PDP Tells Buhari Asks President to write military over his certiﬁcate Raises the alarm over tension, extra-judicial killings Adedayo Akinwale in Abuja The Peoples Democratic Party (PDP) has said that no amount of threat and intimidation by agents of the Presidency would stop Nigerians from discussing the failures of President Muhammadu Buhari and ultimately vote him out in 2019. The main opposition party has also challenged President Buhari, to end the confrontations by his Presidency and show integrity by writing the military authorities to make public his certificate, if he has nothing to hide. The party has also expressed serious concern over the mounting tension, violence and rising cases of extra-judicial killings in the country. PDP said that the desperation by the Presidency and the All Progressives Congress (APC), to gag Nigerians as well as to divert attention from their failures by making spurious allegations and distorting facts could no longer help as Nigerians have already moved on in their determination to do away with them in 2019. The party’s National Publicity Secretary, Mr. Kola Ologbondiyan, in a statement yesterday said that the prevailing hunger, corruption, escalated violence, government insensitivity and governance by proxy, which are the hallmarks of

this administration constitute the referendum by Nigerians to vote out Buhari and replace him with its candidate, Atiku Abubakar. He said: “Nigerians are already aware of how the Buhari Presidency wrecked our once robust economy, shattered our national cohesion, subjected our citizens to the worst economic hardship and turned our nation to a large funeral palour.” “Nigerians are already aware of how the Buhari administration has been attacking our institutions of democracy, including the National Assembly and the Judiciary and how judicial officers and legislators have been serially attacked under this administration. “They know that this administration does not possess a modicum of respect for rule of law and how it has been putting the Independent National Electoral Commission (INEC) under pressure to do its biddings. “Is it not shameful that the Buhari Presidency is accusing the PDP of attacking INEC commissioners just because our party exposed the secret meeting between it and INEC Chairman at the Presidential villa? “The Buhari Presidency is also at pains over our party’s unrelenting demand that President Buhari’s relation, who was recently

redeployed from Operations/ ICT to Welfare Department, be completely removed from the commission; a position that has been approved by majority of Nigerians across board.” In another development, the main opposition party has challenged President Buhari, to end the confrontations by his Presidency and show integrity by writing the military authorities to make public the said certificate, if he has nothing to hide. The party said that the fretting and jittering in the Presidency whenever the issue of President Buhari’s academic certificate is mentioned confirms assertions by Nigerians that the President is morally burdened and ostensibly

has something to hide. The party while responding to a statement credited to the Presidency alleging that those raising the certificate issue are sowing seeds of discord, insisted that Buhari’s handlers should do the needful by placing the certificate in public domain instead of confronting and threatening Nigerians for demanding that President shows his certificate. Ologbondiyan, in a statement yesterday in Abuja said that the Presidency should know that their threats and confrontation cannot take away the fact that their principal’s certificate issue requires a personal responsibility, adding that the President cannot wish away this responsibility as he had always

done on official matters. According to him, “If President has nothing to hide; he should end the confrontations by his Presidency and show integrity by writing the military authorities to make public the said certificate. Meanwhile, the PDP has expressed serious concern over what it described as mounting tension, violence and rising cases of extra-judicial killings in the country. In a separate statement, Ologbondiyan said the opposition party thoroughly rejects the resort to maximum unleashing of state apparatus of power against citizens at the slightest provocation. This, he said had resulted in bloodletting and extra-

judicial killings of compatriots, preponderance of which are never investigated despite the usual lip service of bringing perpetrators to book. The opposition party noted that the frightening situation in the country was precipitated by series of divisive and undemocratic actions and statements of the Buhari administration coupled with its official high-handedness, blatant refusal to obey court orders and open disregard to constitutionally guaranteed rights of citizens. The PDP said that the life of every Nigerian is sacred and deserves respect as provided for in the 1999 Constitution (as emended).

FG Slams Criminal Charges against Senators Uzodimma, Oduah Alex Enumah in Abuja The Special Presidential Investigation Panel for the Recovery of Public Property (SPIPRPP) has filed criminal charges against Senators Hope Uzodimma and Stella Oduah, over their alleged failure to declare their assets as public office holders. The panel, in the two count criminal charges filed against each of them before the Federal High Court, Abuja, accused Uzodimma and Oduah of refusing and neglecting to declare their assets before the SPIPRPP, an offence punishable by law under the 2004 Act, which established the panel. While the charge against Oduah has been assigned to Justice Ijeoma Ojukwu, the one filed against Uzodimma is assigned to Justice Babatunde Quadri. The charge against Oduah, marked: FHC/ABJ/ CR/110/2018 reads: “That you, Senator Stella Adaeze Oduah on or about March 29, 2018 being a public officer with the National Assembly Abuja, within the jurisdiction of this honourable court, committed an offence to wit: refused to declare your assets without reasonable excuse and upon notice to declare your assets before the Special Presidential Investigation Panel for the Recovery of Public Property, Abuja contrary to and punishable under S. 3 (3) (1) (a) of the Recovery of Public Property (Special Provision) Act 2004. “That you, Senator Stella Adaeze Oduah on or about March 29, 2018 being a pubic officer with the National

Assembly Abuja within the jurisdiction of this honourable court, committed an offence to wit: neglected to declare your assets without reasonable excuse and upon notice to declare your assets before the Special Presidential Investigation Panel for the Recovery of Public Property, Abuja contrary to and punishable under S. 3 (3) (1) (a) of the Recovery of Public Property (Special Provision) Act 2004”. The one against Uzodinma, marked: FHC/ABJ/ CR/107/2018, reads: “That you, Senator Hope Uzodimma on or about March 5, 2018 being a public officer with the National Assembly Abuja, within the jurisdiction of this honourable court, committed an offence to wit: refused to declare your assets without reasonable excuse and upon notice to declare your assets before the Special Presidential Investigation Panel for the Recovery of Public Property, Abuja, contrary to and punishable under S. 3 (3) (1) (a) of the Recovery of Public Property (Special Provision) Act 2004. “That you Senator Hope Uzodimma on or about March 5, 2018 being a public officer with the National Assembly Abuja, within the jurisdiction of this honourable court, committed an offence to wit: neglected to declare your assets without reasonable excuse and upon notice to declare your assets before the Special Presidential Investigation Panel for the Recovery of Public Property, Abuja, contrary to and punishable under S. 3 (3) (1) (a) of the Recovery of Public Property (Special Provision) Act 2004.”

YOU ARE WELCOME, KABIYESI...

L-R: Ekiti State Governor, Dr. Kayode Fayemi; Oluyin of Iyin–Ekiti, Oba Ademola Ajakaiye; and the Alara of Aramoko, Oba Olu Adeyemi, during a meeting of the traditional rulers with the governor in Ado Ekiti …yesterday

NHIS: Unions Insist on Suspension of Executive Secretary Two labour unions yesterday renewed their resolve to sustain their ongoing protest over the suspension of the Executive Secretary of National Health Insurance Scheme (NHIS), Prof. Usman Yusuf, by the Governing Council of the organisation. The trade unions are the Association of Senior Civil Servants of Nigeria (ASCSN), and Medical and Health Workers Union of Nigeria (MHWUN). The Chairman of ASCSN, Mr. Abdulrazak Omomaji, made this known to the News Agency of Nigeria (NAN) in Abuja, while reacting to the statement by the Secretary to the Government of

the Federation (SGF), Mr. Boss Mustapha. Mustapha had on October 29 at a retreat for boards and governing councils as well as chief executives of MDAs clarified that as appointees of the President, the boards and councils have no power to suspend any chief executive without recourse to due process. However, Omomaji said the union was still awaiting the federal government’s reaction to their demands over the allegations of maladministration against Yusuf. He explained that the Act establishing the NHIS was

unique that gives the governing council the powers to suspend the executive secretary. “I want to clarify that the Act which establishes the NHIS is different from the other government parastatals, which are guided by boards and directors. “The governing council of the NHIS however acted within its jurisdiction, they are the chief security officer of the organisation and have the powers to discipline and suspend. “Let it be clear that Council has not removed Prof. Usman Yusuf, but have asked him to

step aside for investigations after which findings will be forwarded to the Minister of Health. “Council is therefore in order, and we shall continue with the protest as we await government’s reaction,’’ the chairman said. The SGF had explained that ‘no governing board of a federal agency or parastatal has the power to remove the chief executive appointed by the President. “The board may however, articulate infractions, investigate wrong doing and make recommendations to government through the supervisory minister,” Mustapha said.

Ogun PDP’s Guber Candidate Rejects Kashamu’s List The Ogun State governorship candidate of the Peoples Democratic Party (PDP) for the 2019 election, Hon. Ladi Adebutu, has rejected the purported list of candidates being circulated by Senator Buruji Kashamu-led faction of the party in the state. Adebutu said in a statement yesterday that he would approach the Supreme Court to seek justice on the matter and urged his supporters to remain calm. “My attention has been drawn

to the Independent National Electoral Commission (INEC)’s letter being circulated in the media by Senator Kashamu, to the effect that it is stated there-in that based on the court order given two and half years ago by Justice Buba, INEC is constrained to use the candidates list submitted by Eng Bayo Dayo led Exco for the 2019 elections”. “By now, Nigeria and probably, the United States if America are aware of the legal shenanigans

of Buruji Kashamu. I want to reassure members of the PDP and our supporters in Ogun state that Sen kashamu is on his last legal train ride to political oblivion and irrelevance in ogun state. “We have absolute confidence in the Chief Uche Secundus-led National Excos and we trust that they will leave no stone unturned to protect the interest of our members and candidates in ogun state. “For a fact the Bayo Dayo-

led execo did not conduct any primaries that confirm to the provisions of the PDP constitution and electoral guide lines. “We are already completing the process if approaching the Supreme Court on this obnoxious and destructive legal stranglehold by a non member of our party. “We are sure that we will get justice by the Grace of f God as it is a known fact of life that good will always triumph over evil.

THISDAYtWEDNESDAY OCTOBER 31, 2018

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COMMENT

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

IS BUHARI GUILTY AS CHARGED?

Sonnie Ekwowusi urges the President to apply to the military for the certiďŹ ed true copies of his certiďŹ cates

resident Muhammadu Buhari does not have the qualifications to seek re-election. Verdict of the people: he should be disqualified from contesting the 2019 Presidential election, but, if he manages to bulldoze his way as he did in 2015, the electorate should reject him at the polls. Unlike Atiku Abubakar and other Presidential candidates who respectively presented their academic qualifications or credentials to INEC last week, President Buhari swears to an affidavit that his qualifications including his primary six school certificate are still with the Nigerian military. You will recall that Buhari deposed to a similar affidavit in 2015. He swore that his certificates, including his primary six certificate, were with the military. But the military, through the then director of army public relations, Olajide Laleye, swiftly came out and denied it. Laleye categorically stated that the military was not in possession of Buhariâ€™s academic qualifications. Although Major General M. Buhari applied to join the military as a form six student of the Provincial Secondary School, Katsina on 18 Oct 1961 his personal file kept with the military, according to Laleye, contains â€œneither the original copy, certified true copy (CTC) nor statement of result of Major-Gen. Muhammadu Buhariâ€™s WASC result....â€? Now Buhari is telling the same story he told in 2015 that his qualifications are with the military. This is a national embarrassment. Other countries are now laughing at Nigeria. They are saying that the President of Nigeria did not go to school. The paradox is that while many Nigerian graduates with First Class Honours are roaming the streets in search of elusive jobs, the certificate of the man occupying the most exalted and powerful office in Nigeria is in dispute. President Buhariâ€™s handlers should know how to handle this. If they want to tell a lie they should tell a somewhat believable lie. To concoct a big lie that the presidentâ€™s qualifications are with the military, as I earlier said, is a big national embarrassment. How can President Buhariâ€™s certificates be with the military when the military had denied it? The function of the military is to protect Nigeriaâ€™s territorial integrity not certificate safe-keeping. In any case, if President Buhari seriously believes that his qualifications are with the military why hasnâ€™t he applied to get the certified true

WE MUST RAISE THE STANDARDS OF BEHAVIOUR OF PUBLIC OFFICE HOLDERS IN NIGERIA

copies of the qualifications from the military in the last three and half years? Since Buhari is the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, why hasnâ€™t he used his powers to command the military to release to INEC his academic qualifications? More importantly, Atiku presented his qualifications to INEC. He did not allege that his academic qualifications were with the Customs. Other Presidential candidates similarly presented theirs. Where are President Buhariâ€™s certificates? And to think that this is a government that has declared war on corruption. Corruption goes beyond stealing of governmentâ€™s money. The etymology of the words â€œto corruptâ€? from the Latin word â€œCorrupereâ€? means a state of moral depravity. The lowest common denominator of acceptable character in political life has grown much lower in Nigeria in the last three and half years. Therefore we must raise the standards of behaviour of public office holders in Nigeria. The rule of law is no pious aspiration. It is the safeguard of our liberties. We need leaders who can obey the laws of the land. The Constitution of Nigeria is the supreme law of the land. Nobody is above the supreme law of the land. That none of us is above the law is the hallmark of our constitutional democracy. To erode that bedrock is to subscribe to the reign of chaos and anarchy. The constitution stipulates that a person shall be qualified for election to the office of president if the person has been educated up to at least School Certificate level or its equivalent. Atiku and other Presidential candidates have presented their respective academic qualifications as required by law. Buhari should simply do the same. He should lead by example. God created all of us and put us in this world to do noble things, to love and to cherish our fellow human beings and to obey the laws for proper ordering of society. All of us citizens, president or not, rich or poor, tall or short, stand before the judgment of God and the transcendent truths by which we hope one day to be judged. Oath-taking is a sacred act. That was why Sir Thomas More, the most brilliant lawyer of his generation and a reputable international scholar preferred death rather than take an oath in vain. Therefore truth-telling is at the heart of and soul of our justice system.

CONFOUNDING THE PESSIMISTS Ifeanyi Ugwuanyiâ€™s place is assured in Lionâ€™s Building, writes Chidiebere Nwobodo

he cloud of 2019 general election is thickening and the rain of election is about to pour. Those who have interests to protect or project are strategising in order not to be torpedoed by the impending storm. Politicians are running helter skelter; from pillar to post, either to ensure gaining political offices, retaining their current positions or move to higher ones. One state where the Peoples Democratic Party (PDP) and its governorship candidate are not troubled or losing sleep is Enugu State. The 2019 governorship election of the Coal City has been â€œwonâ€? and â€œlostâ€? even before the main contest. Political watchers and pundits who are observing developments in the Eastern state with keen interest, will attest to my assertion that Lion Buildingâ€”the Enugu seat of power, will remain with the PDP for the next four years; starting from 29th May, 2019. How did Governor Ifeanyi Ugwuanyi weather the storm? Why is he looking so relaxed when some of his colleagues are fidgeting and sweating profusely to win re-election? Why are the odds in his favour? Is he a skillful weather forecaster to know when and where the political rain will come from? Or is he a trained sailor on a voyage across a turbulent ocean, but understands how to stem the whirlpool of waves, ride on its strength, instead of sailing against the ocean currents? A deep, introspective and holistic political punditry is needed to unravel the magic wand of Governor Ifeanyi Ugwuanyi in locking down political atmosphere of the state; making it impregnable for the APC and other opposition parties ahead of 2019 governorship election.

As a veteran political strategist cum public affairs analyst who is also indigenous to the state, I will express few points I believe has handed the governor his second term mandate even before the election. It is no longer news that Governor Ugwuanyi rode on the back of massive goodwill to become number one citizen of the state in 2015. Taking a paradigm shift from his predecessors, he created a new political philosophy that portrays leaders as servants and not dictators. He has been able to unite the political elite in the state along this ideological convictionâ€” that political power is not meant to oppress, intimidate and subjugate the people but serve them. He demystified the mystery behind Lion Building as a throne of tyranny and despotic tendencies, and rebranded it into diplomatic seat of governanceâ€”where wishes and aspirations of Enugu people rule and not parochial interests of the privileged oligopolistic few. Before the Governor Ugwuanyi-led administration in the state emerged, Enugu State operated a faulty and barbaric political philosophy and leadership ideology. Recent rulers that held sway in the state as governors commanded loyalty and respect by instilling fear and insecurity in the people via the display of brazen impunity and sheer fascism. Dissenters were treated as enemies of the state, while anyone who dared associates with them, was seen as a traitor. Enugu Government Houseâ€”Lion Building precisely, became synonymous with power intoxication cum executive rascality. Governorâ€™s wish was law that must be obeyed by all, no matter how ignoble, despotic and immoral. The state metamorphosed into inhabitable

hot terrain for opposition politicians. Any year preceding general elections in the state was usually hostile, tensed and volatile; with a lot of uncertainty and apprehension in the stateâ€™s political hemisphere. Governor Ugwuanyi heralded paradigm shift in the polity and politics of Enugu State. He literally changed the narrative of leadership of the state from staunchly conservative tyranny to liberalism as embodied in true democracy. He views criticisms as alternative perceptions and not attacks on his personality or style of governance. His penchant for reaching out to his detractors by diplomatically engaging them is the hallmark of passionate leadership, which eluded the state before now. Even the worst paranoic critics of the governor will not deny this singular factâ€”he is a genetically wired democrat! He believes in consultation with stakeholders and communities in the state before any policy decision that affects them is taken. Even in political appointments where he reserves the prerogative power to dispense, he still deems it fit to consult widely before overriding decision is made. He has a democratic spirit that abhors imposition. He listens and listens. He has pioneered a new philosophy in the use of political power. I can categorically state that these sterling leadership qualities were the traits that endeared the governor to the people of Enugu State before highlighting other areas of leadership strength. His democratic body language which made his government an inclusive one, has built enormous goodwill for him in the state both amongst the political class and the masses in the streets. Whilst his predecessors demanded

respect from the people using the instrumentality of raw power, Ugwuanyi earned it. While his forerunners used arrogance of power to secure their political base, he has maximised the persuasive power of humility to win the hearts of his peopleâ€”including some of his hitherto critics. Governor Ugwuanyi has proven to be a true student of Abraham Lincolnâ€™s school of thought and lives by that philosophy, that a man with strength of character and great mind is one that cannot be easily corrupted or intoxicated by political power. He has outgrown megalomania. Outside his meek personality, the governorâ€™s performance in critical sectors of the state has differentiated him as a thorough-bred bureaucrat who understands the nitty-gritty of governance. Hitherto forgotten rural areas have been given a face-lift via massive infrastructural strides. The state capital is also not left out. The economy of the coal city has been boosted drastically which is reflecting in the geometric increase in the internally generated revenue of the state. Presently Enugu has one of the best ease-of-doing-business ratingâ€”according to World Bank report. Insecurity that is usually associated with political season has reduced in sync with Governor Ugwuanyiâ€™s peaceful and diplomatic approach to politics. I can assert without fear of contradiction that there is virtually no opposition to the governorâ€™s re-election. His second term mandate is given. The APCâ€”the main opposition party in the state - is riddled and plagued with irredeemable crisis that will leave it polarised and weakened beyond the 2019 electioneering.

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EDITORIAL

BEYOND THE BENUE BOAT TRAGEDY There is need to sanitise the countryâ€™s waterways

t is a big shame that the number of deaths occasioned by boat mishaps on the nationâ€™s waterways keep mounting. While Nigerians may not be paying attention, hardly a week passes without reports of a boat accident and often with heavy casualty ďŹ gures. The latest of such tragedies occurred last Wednesday evening at the Buruku crossing of River Katsina Alla in Benue State, claiming no fewer than 20 lives with 17 of them being motorcycle riders. It is understandable that boat accidents are inevitable in the creeks and coastlines, especially given the fact that the people living in those areas have no alternative means of transportation. It is equally a known fact that because of the absence of other reliable transportation system people tend to pile into THERE IS AN URGENT whatever waterNEED FOR THE craft happens to be going towards ENFORCEMENT their destinations. OF OPERATIONAL But the chalSTANDARDS SO THAT lenge is that this ALL CANOE OPERATORS often necessitates overcrowding ACROSS THE COUNTRYâ€™S when very small WATERWAYS HAVE A wooden canoes carry passengers UNIVERSAL SAFETY far beyond their STANDARD capacity. That indeed may have been responsible for the latest tragedy in Benue State. In recounting how the tragedy happened, the boat operator said when many people came with their motorcycles to board, there were pleas for some to wait for another boat, â€œbut our plea turned on deaf earsâ€?. Halfway across the river, the engine of the boat stopped and when it was attacked by waves, it immediately capsized. â€œThe passengers in the boat were men and women as well as youths. Some of them could not swim; so, they were submerged in the deep water. It was a

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horrible sightâ€?, the boat operator said. As tragic as that may seem, there is indeed hardly any ferry, canoe or the so-called â€œďŹ‚ying boatâ€? that keeps to the exact passenger number speciďŹ cation. Aside from overloading, another cause of these marine accidents is the fact that most of the boats are old and suffer from lack of proper maintenance. Perhaps more important is the obvious absence of enforcement of safety standards since not much is known about the existence of any mandatory operational guidelines for ownership of ferries and boats. That explains why in some instances boats that were constructed to carry not more than 20 persons could be loaded with 50 or more passengers especially at peak periods when people are in a hurry to get back to their places. Consequently, when the canoe encounters stormy conditions along the water, the sheer weight of the human cargo and other luggage would make it easily susceptible to capsize. Furthermore, the fact that there are no life-jackets on board is a sure guarantee that casualty are bound to be high. There is no doubt that water transportation could be one clear source of decongesting the roads, particularly in places like Lagos. However, there is an urgent need for the enforcement of operational standards so that all ferry and canoe operators across the countryâ€™s waterways have a universal safety standard. There should also be regular inspection of these boats just like motor vehicles are inspected and deemed road worthy or marked â€œoff the roadâ€?, in order to detect dilapidated and rickety boats which constitute serious hazard to human lives. Provision of emergency services along the waterways is also worthy of consideration. The absence of such emergency agencies often contribute to the high casualty ďŹ gures recorded when boat accidents occur. All these and other safety measures would deďŹ nitely go a long way in minimising the number of deaths arising from boat accidents on the nationâ€™s waterways.

TO OUR READERS Letters in response to speciďŹ c publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

ATIKU\OBI CANDIDATURE: WHAT ARE THE BENEFITS?

ince our colonial masters left the shores of Nigeria, after they had entrenched the egregious political culture of imposition of political leaders on the people(s) of Nigeria, as exemplified by their helping Alhaji Tafawa Balewa to become our Prime Minister in 1960, Nigeria has been bedevilled by leadership crisis. And since our countryâ€™s attainment of political sovereignty in 1960, and until 1999, rapacious, profligate, corrupt, and rudderless democratic governance interspersed with autocratic military regimes were our collective lot, then. Even our uninterrupted practice of representative government since 1999, and until now, has not brought much gains and development to us and Nigeria owing to our political leadersâ€™ religious bigotry, ethnic chauvinism, rapacity, lack of leadership qualities and corruption. Little wonder, for all humongous natural and human resources, equable weather conditions, and arable large landmass, Nigeria is still trapped in the morass of underdevelopment. So, Muhammadu Buhari coasted to victory in the 2015 Presidential election on the coat tails of his ascetic nature, perceived zero tolerance for corruption, patriotism, and zeal for political leadership. But it seems that he has been overwhelmed by the enormity of Nigeriaâ€™s multifarious and hydra-headed national problems. But, was

he prepared for national leadership before a coalition of political parties helped to ensconce him in the loft of power? The answer to the question is a categorical no. Since he became the President of Nigeria, he has not been able to make our economy grow at a quick pace or tackle successfully insurgency in the northeast of Nigeria. And he has failed, abysmally, to fix the infrastructural rot in the country. His fight against corruption, which is the leukemia asphyxiating Nigeria, is lopsided to persecute members of PDP, the chief opposition political party in Nigeria. Worst still, as the Buhari government has failed to revitalise and expand our economy to create job opportunities for people, Nigeria, now, has an army of jobless people, who are angry and hungry. So, are we not sitting on a keg of gun powder, now? Thatâ€™s why the emergence of Atiku Abubakar as the Presidential candidate of PDP has caused joy and happiness to well up in the hearts of millions of Nigerians. Many Nigerians want a better alternative to the ruling APC which has failed to fulfill its promises to us. Its campaign mantra of change resonated with us during the 2015 Presidential election campaign as countless Nigerians were disenchanted with Dr Goodluck Jonathanâ€™s political administration, then. Yet, until now, change has remained elusive in our country. Today, millions of Nigerians, who are trampled underfoot, are

groaning under severe economic hardship occasioned by visionless, rudderless, insensitive, and inept political government of the APC. So, Atikuâ€™s winning of the PDPâ€™s Presidential ticket has revived hope in the hearts of millions of Nigerians and made them become ecstatic. Atiku Abubakar, who makes no pretensions to being a saint and our political messiah, is a hard-nosed and pragmatic politician. Before serving Nigeria for eight years as the vice-president in a PDP â€“led government, he worked at the top echelons of Customs. So, he is familiar with our seemingly intractable national problems. And he has been proffering solutions to our myriads of national ills via his interactions with journalists. His articulation and formulation of policies, including his treatise on the restructuring of Nigeria, are workable road maps for the re-making of our battered country. Again, Atiku possesses cosmopolitan disposition and proclivities, which will make his political candidacy acceptable to the generality of Nigerians from diverse ethnic origins. If he wins the Presidential election, his victory will bridge the ethnic chasm in Nigeria instead of deepening our ethnic and religious fissures. And, he will look beyond the north when forming his executive cabinet and appointing personnel into our federal establishments as he is not held hostage to ethnic, religious, and

primordial sentiments. More so, his choice of Mr. Peter Obi, as his running mate, is spot-on. It is a political master-stroke that will galvanise goodwill and support for Atiku Abubakar in the Presidential race. His choice of Mr. Obi as his Presidential running mate will placate millions of indignant Igbo people, who feel that they are being left out in Nigeriaâ€™s political scheme of things. And it will dampen their enthusiasm for the creation of the sovereign state of Biafra. We are not unconscious of the stark fact that President Buhariâ€™s high-handedness in treating the Biafra incubus has further polarised the country, and alienated him from the people of the Southeast. And, the Igbo peopleâ€™s hope of producing Nigeriaâ€™s President of Igbo extraction can be achieved sooner via Atiku/Obi political candidature. If Atiku wins the 2019 Presidential election, which he is poised to win, and serves out his terms of office, Peter Obi will become the next PDPâ€™s Presidential candidate based on political calculus and permutations. An Igbo manâ€™s ascendance to the highest political office in Nigeria will disabuse the minds of the Igbo people of the notion that they are second-class citizens in Nigeria. Chiedu Uche Okoye, Uruowulu-Obosi, Anambra State

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T H I S D AY ˾WEDNESDAY OCTOBER 31, 2018

MIDWEEKPOLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

A N A LY S I S

Hanging On to a Slim Chance Nseobong Okon-Ekong and Demola Ojo write that supporters of an All Progressives Congress gubernatorial aspirant in Cross River State hope the recent much-criticised governorship primary can be revisited

Usani

Enoh

Ita Giwa

Duke

A former senator and an influential political figure in the state, Ita-Giwa’s defection to the PDP is a major blow to the APC’s aspiration in the forthcoming election at all levels in the state. She has since enumerated the many reasons for her decision. “I cannot understand how a party that seeks to unseat the PDP-led government in the state can be so factionalised going into crucial elections. I cannot understand how any party will have in its ranks popular and tested leaders who can muster tremendous goodwill for the party and yet treat them with disdain.” She noted that, “the experience in the supposed recent direct party primaries was also a sour taste of experience where factional interests simply allocated figures and announced same as votes after shutting out other aspirants in the race.” She also expressed reservations over the choice of APC deputy governor candidate, Ekpo Okon, who a few weeks ago, was contesting for the Cross River South PDP senatorial ticket only for him to jump ship after losing to Senator Gershom Bassey. He was said to have done that without formally declaring for the APC. “There was no election, there was no primary (in Cross River),” Ita-Giwa further argued.

reject the purported elections.” and the result announced on the following grounds,” The petition signed by John Upan Odey, High Chief Edem Duke and Prof Eyo Etim Nyong stated a long list of infractions. Their grouse includes but not limited to the fact that the party’s NWC submitted the entire process of election to the arbitrary control of the National Vice Chairman (South South) Chief Hilliard Eta, who in no way hid his preference for the candidature of Enoh. According to the petition, Eta had at several meetings in his house prior to the primary told state excos that President Muhammadu Buhari and national leaders had adopted Enoh as the party’s candidate. The petition detailed how the primary election was manipulated by “agents of Senator John Owan Enoh... that three governorship aspirants from Cross River North and South could not vote for themselves as there was no voting in their respective wards...”

from the South. Secondly, there is the complaint that federal appointments are heavily lopsided in favour of the Central zone: Minister for Niger Delta; APC State party chairman; Chairman NDDC board; Special Adviser to the President on Prosecution; Auditor General of the Federation; Chief of Naval Staff... In the estimation of some stakeholders within the party, Senator Enoh and Pastor Usani Usani – both from the Central zone – shouldn’t have contested in the primary in the first place.

he nationwide All Progressives Congress (APC) primaries have come and gone but most states still have unresolved issues, especially regarding the governorship candidates for the 2019 elections. It is common knowledge that some states conducted parallel primaries that threw up conflicting results, with the National Working Committee of the party in some cases announcing results at variance with popular expectations, against the backdrop of accusations of manipulation. Cross River is one of these states where there are reverberations of discontent in relation to the ratified governorship flag bearer for the party at next year ’s general elections. This is unfortunate, considering the fact that the APC – which is the ruling party at the centre but is in the opposition in Cross River – hitherto fancied its chances of giving the incumbent People’s Democratic Party (PDP) governor, Professor Ben Ayade, a tough contest next February. As things currently stand, with a much fractured, APC, which is the main opposition in the state and the likelihood that the wounds may not heal before the general elections in 2019, Ayade may be working on easy streets. At the moment, the current governor seemingly has an easy route to being re-elected come the elections in a few months, with the emergence of Senator John Owan Enoh as the APC candidate, which has been met with opposition within his own party. There are many legitimate and some unwieldy reasons for this resentment against Enoh. As a result, many disgruntled members, particularly of the APC, Ita-Giwa, who has been deliberately kept in the cooler of the APC hierarchy, decided to decamp to the PDP, thus boosting Ayade’s chances. The recent return to the PDP of popular politician, Ita-Giwa, after about one-and-a-half years in the APC, is seen as an indication of what is to follow.

Dissenting Voices

However, Ita-Giwa is just the latest dissenting voice over the emergence of Enoh as the governorship flag bearer of the APC in Cross River. Three candidates of the five cleared to contest the governorship primaries in the state had, previously, written and co-signed a petition to the National Chairman of the party, Comrade Adam Oshiomhole to cancel the results of the primary because in their estimation, there was no election. “We, three of the five governorship aspirants of the APC duly nominated, screened and cleared for the governorship primaries of Cross River State are totally dissatisfied and outrightly

Accusation of Marginalisation

Looking deeper into why there is disquiet over the choice of the APC governorship candidate in Cross River is the issue of rotation and marginalisation. Of the three senatorial districts of North, Central and South, the incumbent governor is from the North (albeit a member of the PDP), while the immediate past governor (Liyel Imoke) is from Central. Members of the Southern Senatorial zone within the party believe the party’s candidate should come from their zone where Duke and Nyong hail from. (Others including Sen Ita Giwa think it’s only fair for Odey who is from the North, to be the party’s flag bearer and if he wins, rule for only one term, so the North can also get eight years at a stretch). Notwithstanding, those from the Southern senatorial zone contend that they make up about 50 per cent of the voting population in the state, which should translate to the APC having a better chance of unseating Governor Ayade with a candidate

Possible Resolution

In a report sent to President Buhari by the Inter Party Advisory Council for Cross River, it detailed how primaries were held in the state by two different factions led by Hon. Etim John and Dr Matthew Achigbe respectively. The former produced Usani Uguru Usani as winner while the latter (later ratified by the NWC) produced Senator John Owan Enoh as winner. According to the IPAC, which is the umbrella body for political parties in Nigeria recognised by INEC, the first was free and fair, the second was fraudulently manipulated. The report also stated that supporters loyal to Chief Edem Duke who were in their large numbers, were not allowed to vote. The report advised that the primary be cancelled and that the NWC look into the matter. However, the NWC endorsed the primary that returned Enoh as winner. With the November 2 deadline for the submission of governorship and state House of Assembly candidates to INEC almost here, not a few members of the APC, especially in Cross River South, hold out slim hopes that the party’s NWC will take another look at the primary and present a consensus candidate that can help it win the state. And the odds favour Chief Edem Duke, whose towering achievements in public service and private enterprise recommend him.

T H I S D AY ˾ WEDNESDAY OCTOBER 31, 2018

POLITICS

Bridge of Peace Over Troubled Waters Nseobong Okon-Ekong writes that Governor Akinwunmi Ambode of Lagos State has demonstrated exemplary sportsmanship by putting the rage of the gubernatorial primary behind him

Ambode

hen the plot to deny Governor Akinwunmi Ambode of Lagos State a second term by the leadership of the All Progressives Congress (APC) was exposed, everyone who was alleged to have a hand in it denied, mainly because it was not time to make it public. Senator Bola Ahmed Tinubu, the National Leader of the APC and former governor of the state who is widely acknowledged as having a firm grip on the power structure in Lagos and a majority of states in the South-west feigned innocence. Another distant suspect of Ambode’s troubles, Governor Rauf Aregbesola of Osun State said it was a bad joke to have his name linked to the Lagos governor’s travail. The more they refuted the allegation, the stronger it gathered momentum, though, Tinubu, the principal character who was touted to be against, posed for photos, smiling with the governor. It would later become clear that there was a very sharp dagger in his smile. To the uninitiated and the simple minded, Ambode appeared to be doing well, given that many thought his predecessor, Babatunde Fashola had raised the bar of governance and performance too high for anyone to match. However, not a few were surprised when Ambode, after a slow start revved his engine and began to power on with a couple of visible projects. He not only narrowed the gap set by Fashola’s administration, but began to initiate a few signature projects of his ownthe most notable being, the Light Up Lagos campaign. With it came improved security and reduction in crime rate. Lagos caught the attention of the world, as it was rated for the first time among the leading cities in the world that was worth living in, even if it was placed at the bottom of the pole. He was also building world class bus terminals, that would revolutionise land transportation. A few strategic roads were being widened, particularly, the road leading from the Murtala Mohammed International Airport. Many thought these were sufficient indicators of capacity to deliver good governance, but the powers that be thought otherwise. Surprisingly, the tide turned against Ambode over night. Those who had earlier given him a thumbs up, suddenly began to find faults with his style. Before it became fashionable to denounce the Lagos State governor, the list of those who had endorsed his re-election included all the 57 local governments and local council development areas (LCDAs) chairmen, all former council Executive Secretaries and Soul Administrators, councilors, all members of APC House of Representatives Caucus, all the three Senators representing Lagos at the upper legislative chamber, among other chieftains and groups both within and outside the party. It was almost given that Ambode was going to be returned unopposed at the Lagos APC gubernatorial primary. About two monts to the primary, no one indicated interest to wrest the ticket from him. What

Tinubu

happened in the Lagos APC primary has confirmed again that, indeed, four weeks is a long time in politics. Soon those who had openly identified with the governor’s re-election bid, started to sing another song and drumming support for the preferred candidate of the party leadership, Babajide Sanwo-Olu. It was also publicly reported that about few days to the said primary election, the party leadership had categorically told Ambode to withdraw from the race, an instruction he was not only averse to, but also bluntly rejected after which he opted to contest the election. Many have since said Ambode’s decision a bad political miscalculation. They reason that if the 57 LCDA chairmen, majority members of the state assembly and federal legislators had signed that he should stand down, it would have been more honourable to take the hint and take a bow, instead of going into the gubernatorial primary. By their decision , these opinion moulders and influential politicians in Lagos had rendered Ambode a lame duck. His broadcast on the eve of the Lagos APC primary sounded like a valedictory. While thanking thanking and the people of Lagos for the privilege to serve, he stopped short of bidding them farewell. Based on the agreement that the election would be through direct primaries where all members would elect their preferred candidate as against the delegate system, the governor had raised issues about the moves by the party to disenfranchise the vast majority of members of the party without membership card but with slip and other means of identification. The Electoral Panel constituted by the National Working Committee (NWC) of APC to conduct the election led by Mr Clement Ebri had swiftly responded by announcing that all members with slip and other means of identification would be allowed to vote. Though the election was shifted twice, there were reports of members of the party who wanted to vote for Ambode being denied their right of doing so by touts and political hawks allegedly on the orders of the powers that be. While the election was ongoing and sensing that the guidelines were not being followed, the NWC panel addressed a press briefing to disown the election, saying materials and other logistics were yet to be perfected and distributed across the State, but their decision was soon overruled by the APC National Chairman, Comrade Adams Oshiomhole who made announcement from Abuja declaring that election held in Lagos. The following day, the Ebri-led panel announced the result of the same election it had earlier disowned, giving victory to Sanwo-Olu in the process. However, in a move totally depicting his readiness to accept whatever might have happened and to move on, Ambode made a state-wide address where he congratulated Sanwo-Olu for emerging victorious at the polls, saying it was time for the state to move forward in order to consolidate on the gains of the last three and half years. But could

Sanwo-Olu

he have done otherwise? The broadcast halted rumours that he planned to move to another party. Of course, he would have been removed by the state house of assembly the next day, if he made such a move! He said though events leading to the election were characterized with intense political activities which created palpable tension in the polity, but that the interest of the State superseded that of any personal ambition, and therefore urged APC members and indeed all Lagosians to support the candidate of the party. “Dear Lagosians, APC is a great party and the interests of our beloved State must always supersede that of any person or group. It is in this regard that I wholeheartedly congratulate the winner of the Lagos State APC Primaries, Mr. Babajide Sanwo-Olu and urge all Lagosians to immediately support our party’s gubernatorial candidate in the 2019 elections and work for the success of our dear party,” Ambode said. While assuring that he would work to ensure a smooth transition in 2019, the governor said the progress of the State was non-negotiable, saying he would remain forever devoted to the development of the State as he had exemplified since assumption of office. “The progress of Lagos State is non-negotiable. It is a project that I have passionately worked for in the last three and half years as your Governor and one to which I will forever be devoted,” he said. Soon after that, at the first State Executive Council Meeting after the primaries, Governor Ambode devoted quality time to preach a message of forgiveness and unity. It was reported that the Governor specifically asked all the council members to work in support of Sanwo-Olu, and also focus on more on governance and issues of public concern rather than engaging in another round of political conflict that can undermine governance and public administration. According to a commissioner who was at the meeting, Ambode encouraged every council member “to double their efforts to make Lagos a true centre of excellence. All of us must forget what has happened. We must forgive and forget so that we can face the business of government with renewed spirit and approach the next election in unity.” In addressing both political and governance issues neglected during the intense political maneuverings, the Governor immediatey set in motion a task force to rehabilitate failed roads across the state, which had been a major source of worry for residents. Also, in an effort to back his words of uniting with those who worked against him at the primaries with concrete action, the Governor met with members of the Lagos State House of Assembly where he preached the same message of forgiveness and unity, while he followed it up with the collapse of the Ambode Mandate Support Group (AMSG) into the Sanwo-Olu Campaign Council. Specifically, the governor according to sources, appointed a five-man contact team under the leadership of the Coordinator of

AMSG, Hakeem Sulaimon, to hold a meeting with the Director-General of the Sanwo-Olu Campaign Council, Mr. Tayo Ayinde, on how to work together now that the primaries had been concluded, while in addition to that, the Governor also directed his supporters across the 20 local government areas and 37 LCDAs to begin grassroots campaign for the APC governorship candidate. Immediately after the primaries, according to a source, Ambode sent message to all his supporters and support groups to ensure that the Peoples Democratic Party (PDP) did not win the state, for the sake of continuity and also work for President Muhammadu Buhari’s victory. According to a source who is close to the seat of power, the Governor had made it clear that he was going to do everything to win the state for the APC, including giving financial support to Sanwo-Olu and even campaigning for him, while he had consistently praised National Leader of APC, Asiwaju Bola Tinubu, the man who is believed to have masterminded his defeat at the poll. “He (Ambode) harbours no ill feelings towards anybody, as a matter of fact, he has repeatedly thanked the National Leader for choosing him from millions of able and capable people, eligible to be the governor in 2015,” the source said. To further demonstrate that he is consistent, the Governor again on Tuesday, vowed to lead a strong campaign to ensure victory for President Buhari and Sanwo-Olu in the 2019 general elections. Speaking to journalists at the Presidential Wing of the Muritala Mohammed International Airport shortly after he accompanied President Buhari to perform the official commissioning of the new Economic Community of West African States (ECOWAS) Border Posts at Seme-Krake joint border post in Badagry, Ambode said it was important for the APC to retain its leadership positions both in the federal and the State level. “I have just accompanied Mr. President to the Nigerian-Benin Border Post. So what we have commissioned today is a joint Border Patrol post between Nigeria and the Republic of Benin and it is called Semo-Krake Border Post. “But again, just to also use this opportunity to let Lagosians know that we are heavily committed to the re-election of Mr. President and you can see that his continuous visit to Lagos reiterates the fact that he is actually a lover of Lagos State and I am committed to ensuring his re-election. “We are going to campaign heavily for him. I am also committed to ensuring that the APC wins the governorship election come 2019. We support the candidacy of Babajide Sanwo-Olu and we would make sure that APC retains Lagos State and the centre,” Governor Ambode said. Clearly, Governor Ambode’s posture and statement have created an atmosphere of unity within the ranks and file of APC members across the state that would go a long way to galvanise all interests within the party.

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430

A Satirical Challenge of an Anomaly Peter Uzoho writes that the recently commemorated 58th Independence day celebration afforded students of St Francis Secondary School, Idimu, Lagos, the opportunity to challenge the anomaly of Nigeria's political representatives using satire

The audience at the festival

he commemoration of the 58th Independence Day anniversary of Nigerian might have come and gone, but some of the memories it left behind lingers. One of such memories was the dramatic presentation by students of St Francis Secondary School, Idimu, Lagos, one of the three Jesuit colleges in Nigeria, who through drama exhibited a satirical presentation of the 'dishonourable' actions of the nation's political representatives. During the event held at the school premises, the students through a play they performed at the Arts Festival in celebration of the independence anniversary, expressed their worries over the plight of the nation in the hands of Nigeriaâ€™s representatives. Although the festival was heralded by speeches, comments and wishes, it's peak was the play performed by the students titled 'The Parliament of Vultures,â€™ written by renowned playwright and scholar, Prof. Emeka Nwabueze, of the University of Nigeria Nsukka.

The Play

The play is a satire of the shameful practices of Nigeriaâ€™s lawmakers, and leaders at large, which mainly represents the anomaly practiced by the nation's representatives. As presented theatrically by the SS3 students of the school, 'The Parliament of Vulture' showed members of the legislature partying and wining and dining with the taxpayersâ€™ money.

To them, lawmaking begins and ends at raising and seconding motions for the appropriation of monies for their upkeep. In the play, the floor of the parliament is taken over by colleagues whose selfish interest is uppermost. At the move of a motion, cheques are signed and doled out by the speaker of the parliament, who is always doing the bidding of his

If things are alright, the security of this country should be better, money voted in for healthcare should be used, the educational condition of our country should improve and the roads should be better...So the students donâ€™t like what they are seeing, thatâ€™s why they want to act it

influential colleagues just to make them happy and keep his position. During proceedings, the voice of the ayes is louder than the nays, whether the matter at stake is for or against the masses. Although, the characters represent diverse ethnic nationalities as shown by their costumes, such diversity only exist in the mind and not when they want to share the cake â€“ such differences only end up inside the cooler the moment it is time to discuss what gets to who. Because the sharing must be done fast before the people will be aware. Interestingly, Madam Hoohaa is one of such strong voices in the parliament. She is among the movers and shakers of opinion and she uses her amorous techniques to win her colleagues to her side. Her erotic daughter is her partner in crime and she uses her to strike deals with her male colleagues. Hoohaaâ€™s position as a strong voice in the chamber gets into her head. She no longer respects her husband. Every person on their side is well protected, but for those who have contrary stand on issues in the parliament, they are on their own. Dissenting opinion is not tolerated. It is either you belong and play ball or you are kicked out by way of blackmail and subsequent suspension. Even the chaplain of the parliament is compromised because he doesnâ€™t want his position to be taken over by someone else. But while all these go on in the legislature, the masses suffer. No good policies

to alleviate their suffering; no good roads, hospitals, schools and no food to eat. But they must queue up at every election to elect these same rogues masking as representatives of the people. While the adult audience watched this artistic parody with a blend of sobriety and amusement, the young virgin minds watched with an uncontrollable excitement, laughing at every move of each character.

Essence

But what is the essence of presenting this dramatic piece on the day of supposed national celebration? The Administrator of the school, Fr. Maduabuchi Muoneme, reasoned thus: "I think if thatâ€™s whatâ€™s going, it will be quite preposterous to now begin to be quiet and feel that things are alright when they are not. If things are alright the security of this country should be better, money voted in for healthcare should be used, the educational condition of our country should improve and the roads should be better, we shouldnâ€™t be having potholes on our roads for centuries. â€œSo the students donâ€™t like what they are seeing, thatâ€™s why they want to act it. They want to act it to send a prophetic message to the leadership of this country because they themselves are concerned. They want things to change and since we are putting our hope in them, then I think itâ€™s important for them, whether itâ€™s through caricature, parody, or drama, let them showcase

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FEATURES the negatives, the shadows of the Nigerian government so that when they too take over the leadership of this country they will have the foundation, the ethical grounds to transform things for the better. "So itâ€™s basically a parody and satire of the leadership of this country where you have people who kind of steal from the government treasury and embezzle huge funds just to run the government. A government that is not effective, a government that is a mediocre; and because of this bad elements in the leadership of this country thatâ€™s why we have problems in the society. â€œThatâ€™s why we have bad roads because money voted in for bad roads are plunged into private accounts. Thatâ€™s why we donâ€™t have good hospitals; good educational facilities; thatâ€™s why even pensioners are not paid their pensions; and thatâ€™s why thereâ€™s abject poverty on this land. So we are 58 years old, yet we have not reached our potentials.â€? The administrator noted that the school tried to use the festival to celebrate arts, drama, music, dance and culture, adding that the school would continue holding it every year on October 1 to honour the countryâ€™s independence and her heroes. â€œWe all know that this country is below its potential in terms of leadership and in terms of followership. So this is a way of giving hope to all of us that tomorrow things will be better, and also to encourage our young ones because our young ones, our students, for me are only the hope of this country.â€? The administrator however said despite the ugly state of the country, there is still hope that things will get better. â€œYes, things are bad but thereâ€™s hope that things can be better provided we put our hearts and our minds and hands together to transform this country to a better nation,â€? he added.

Students of St Francis Idimu acting out The Parliament of Vultures during the school's Arts Festival

Holistic Training

According to him, the school which is a Jesuit education runs an education that is holistic and not just for intellectual formation alone, saying: â€œwe train minds, we train the intellect, we train the soul â€“ the spiritual dimension; we train the heart, we train the students in leadership, in service, in sports. So itâ€™s a holistic formation", he added. Muoneme further said: â€œSo this is part of education and we want them to express themselves in freedom artistically. We all are made in Godâ€™s image and likeness and our creator is a creative being. And since weâ€™re made in His image and likeness we also ought to use our gifts and talents

So itâ€™s basically a parody and satire of the leadership of this country where you have people who kind of steal from the government treasury and embezzle huge funds just to run the government. A government that is not effective and is mediocre; and because of this bad elements in the leadership of this country thatâ€™s why we have problems in the society

St Francis Symphony Orchestra

An SS3 student Ofodile, honouring and eulogising Nigeria through a solo song 'Hero'

of creativity for good. So thatâ€™s what weâ€™re trying to do. Thatâ€™s why we have beautiful works of art in the arts studio, and also in the schoolâ€™s Tunnel of Good Hope, and in the Refectory, and of course, around the school compound you will see a lot of celebration of arts just to inspire the mind."

For the Love of Music

Muoneme revealed that music was also one of the tenets of the Jesuit education hence, the celebration of

music at the festival, adding that, â€œwe want our students to be able to express themselves musically. And thatâ€™s why you have the St Francis Symphony Orchestra perform." Meanwhile, the Music Director of the school, Mr. Adedeji Kikiowo, who guided the students to thrill the guests with varied soulful songs, expressed his excitement at the success of the presentations. According to him, even on short notice, the students were able to prepare themselves for the show.

This, he attributed to the studentsâ€™ interest in creative things. â€œAs you can see, they did what they did with so much excitement. Even when some of them came in newly, they requested for the song, I gave them the keys; they went home and practiced them. And you saw them on stage presenting all they have learnt. I think it was based on the fact that children are so interested, they are creative, they just want to express their creative ideas", Kikiowo said.

IMAGES

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

L-R Executive Director, Business Development, First City Monument Bank (FCMB), Mrs. Bukola Smith; Managing Director, AGF West Africa, Mrs. Adidjatou Zanouvi; Executive Director, Finance, FCMB, Mrs. Yemisi Edun; Company Secretary/ General Counsel, Mrs. Funmi Adedibu; Group Head, Legal Services, Mr. Tony Ibekwe and Head, SMEs Advisory Services, Mr. Oluyemi Rufai, during the signing of a loan portfolio guarantee between FCMB and AGF in Lagos...recently

L - R: Chief Operations OďŹƒcer, RMB Nigeria, Funsho Odukoya; Senior Relationship Manager, RMB Nigeria,Seyi Soetan; General Counsel, RMB Nigeria, Temitayo Adegoke; Senior Relationship Manager, RMB Nigeria, Hector Okposo and Chief Internal Auditor, RMB Nigeria, Femi Fatobi during their investiture as Honorary Senior Members of the Chartered Institute of Bankers of Nigeria (HCIB) in Lagos..recently Governor of Osun State, Ogbeni Rauf Aregbesola (right), and Sheikh (Dr) Muhyideen Ajani Bello, during the 68 Years of Daawah, at Felicia hall, Jogor Center Liberty Road Ibadan Oyo State...recently

L-R; Chairman, Brass LNG, Dr. Jackson Gauis-Obaseki; President, Nigerian Gas Association (NGA), Mrs. Audrey JoeEzigbo; Group Managing Director, NNPC, Dr. Maikanti Baru; Secretary General, International Gas Union (IGU), Mr. Luis BertrĂƒÂĄn Rafecas; Former President, NGA, Engr. Dada Thomas and MD, Nigeria LNG Limited, Mr. Tony Attah at the 2018 NGA International Gas Conference and Exhibition held in Abuja...recently

L-R: Oyo State Governor, Senator Abiola Ajimobi; Leader of a delegation from UK-based Jesus House Mission, Dr. Agu Irukwu; his wife, Sola; and Wife of the state governor/Founder, Access to Basic Medical Care Foundation (ABC), Chief Florence Ajimobi, during a visit to the governor, preparatory to the teamsâ€™ commencement of free medical mission across the state, at the Governorâ€™s OďŹƒce, Ibadan... recently governorâ€™s office.

Speaker, House of Representatives,Rt. Hon. Yakubu Dogara(4th left),shortly after receiving his temporary drivers license and a plaque from the Chairman Governing Board of Federal Road Safety Commission(FRSC),Malam Bukhari Bello(4th right) and Corps Marshall of FRSC, Mr. Boboye Oyeyemi(3rd left), with them are members of the FRSC governing board,during Speakerâ€™s visit to FRSC headquarters in Abuja,recently

R-L; INEC, Chairman, Professor Mahmood Yakubu ; INEC National Commissioner, Festus Okoye and Chief Executive OďŹƒcer, Zabe Software, Khalil Halilu at the Conference on Electoral Integrity in Nigeria, organised by Centre for Democracy and Development (CDD) in Abuja...recently

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BUSINESSWORLD

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Quick Takes PTAD Pays Entitlements of Pensioners

The PensionTransitional Arrangement Directorate (PTAD) has said it paid the sum of N278.097 million to 338 Next of Kins of deceased civil service pensioners under the DeďŹ ned BeneďŹ t Scheme. The directorate, said these were Next of Kins who to deceased civil service pensioners who died after service, and who have completed the process of documentation and have been cleared for payment by federal auditors. AccordingtoPTAD,thepaymentwasachievedthroughaveriďŹ cation exercise conducted to authenticate genuine beneďŹ ciaries before payment was made. It said the list of the beneďŹ ciaries have been publishedinnationaldailiesandcouldbefoundonitsoďŹƒcialwebsite.

CIIN to Construct Auditorium

WOOING CUSTOMERS

L-R: Deputy Trade Commissioner, Japan External Trade Organisation (JETRO), Chiharu Yamamura; Trade Commissioner/Managing Director, Shigeyo Nishizawa and the General Manager, Michael Anusa, during a media briefing by JETRO on the forthcoming Lagos International Trade Fair, that took place in Lagosâ€Śrecently

Involve Private Sector in Infrastructure Financing, FG Told Goddy Egene Given the weak revenue generation of the Nigerian government, the federal government has been urged to involve the private sector in the financing of infrastructure. It is estimated that about $100 billion must be invested annually to finance infrastructure development in Nigeria to close the deficit. But the weak revenue generation of the Nigerian government shows that the country cannot meet the capital required through annual budgetary allocation. Hence, financial analysts at FSDH Merchant

ECONOMY Bank Limited has called on the government to partner the private sector in the funding of the infrastructure gap. According to FSDH, data from the International Monetary Fund (IMF) shows that Nigeria recorded the lowest revenue to Gross Domestic Product (GDP) among some selected countries, at an average of 11.53 per cent between 2008 and 2017. It said one of the reasons for the weak revenue generation is inadequate infrastructure in the country. â€œThis underscores the need

for Public-Private Partnerships (PPP) to drive infrastructure development in Nigeria. Nigeria can overcome this challenge in the next few years if it adopts one or a combination of the PPP arrangements that are available. Critical projects in the Nigerian economy such as road, rail, aviation, housing and power can benefit from PPP arrangements,â€? FSDH said. It explained that adequate and functional infrastructure will have a multiplier effect on the growth of the economy and should attract investment into the non-oil sector â€œImprovements in infrastructure would reduce the

costs of doing business and make locally produced goods more competitive. Inadequate infrastructure has also been a major hindrance to unlock the revenue from the non-oil sector of the economy. Given the FGN revenue constraints, it is imperative to develop constructive and innovative ways to fund the infrastructure. We believe partnership arrangements with the private sector is a cost-effective funding model for infrastructure development in Nigeria,â€? it declared. A leading stockbroker and investment banker, Mr. Bolaji Continued on page 24

Insurance Industry Endangered Profession, Says NCRIB Boss Ebere Nwoji Insurance industry in Nigeria has been described as an endangered profession due to numerous challenges bedevilling the sector in the areas of changing global regulations and laws affecting. its operations. President, Nigerian Council of Registered Insurance Brokers, (NCRIB), Mr. Shola Tinubu, who stated this, noted that locally the industry was grappling with a lot of internal challenges, with their attendant negative implications on the image of the industry. He, however, said in spite of these challenges, there was a glimmer of hope in the horizon. He argued that the industry remains the last hope of the common man. â€œFor as long as risks remain part of human endeavour, insurance would continue to

INSURANCE be relevant. What we need, therefore, is to be apprised with survival and thriving strategies, especially at this time.â€? He said this at the 2018 national conference of the council, with the theme: â€œInsurance Industry: Survive, Thrive.â€? The NCRIB president noted that the conference came barely a year to his assumption of office as president of the NCRIB. He acknowledged that the cooperation and support given by members of the council have enabled him surmount most of challenges as the council looks positively to the future. â€œThe council under the present leadership has been able to up the ante in terms of giving more visibility to insurance brokers and the council through the corporate visibility project,

which has been extended to all zones of the country, while at the same time promoting knowledge and competences of members through organisation of regular training programmes for members. He noted that the council has maintained good relationship with industry stakeholders, as well as other players outside the insurance industry for the benefit of the members. â€œIn terms of ensuring more effective legislation, the Council has been quite proactive in making suggestions and input into legislations coming in form of guidelines to the broking sector. Without any equivocation, the relationship between the NCRIB and the National Insurance Commission (NAICOM) has improved, despite several challenges dotting our path. â€œWe are all witnesses to the progress recorded by the council

in reducing the regime of fines and penalties usually imposed on brokers several months ago, principally due to lack of knowledge or understanding requirements expected of them by the regulator,â€? he said. Tinubu noted that through collaboration and dialogue with the regulator succeeded in making the regulator consider the position and role of brokers in insurance chain as such pacified the regulator to keep hold on extending the exercise to brokers before the recent intervention on the exercise by court. â€œCurrently we are concerned that the guideline may be seeking to tier brokers which is not seen as required since brokers are professional firms and not risk carriers. However, we have confidence in the approach of the commission to ensure all Continued on page 24

The President of Chartered Insurance Institute of Nigeria(CIIN), Mr. EddieEfekoha,hassaidtheinstitutewillplayaleadingroleinitscrusade on embracing new trend in technology among insurance operators. This, he said would be achieved partly, through the construction of a multi-millionnairamultipurposeauditoriumattheCollegeofInsurance and Financial Management(CIFM). According to Efekoha, this is in line with his determination to bolster infrastructure at the college. Efekoha, who disclosed this while addressing the media on his activitiesasthenewpresidentoftheinstitutenotedthatN50million had been set aside to commence the project. According to him, the N50 million was received from the National Insurance Commission (NAICOM), stressing that the said amount would be used to start the work, while eďŹ€orts will be geared on looking for more sponsors. Efekoha said the institute would continue to expand infrastructure at the college, which he said was helping the institute in conducting herexaminations.Heappreciatedcompaniesandindividualswhohad supported the college since inception and urged more companies and well to do persons to partake in the development of the College. Efekoha had at another forum urged insurance practitioners to embracenewtrendsintechnology,whicharechanginghowbusinesses areoperated.Accordingtohim,insurancecompaniesarefastchanging roles from being product manufacturers to administrative service providers and the evolution is here and must be embraced by all practitioners.Onlinesocialnetworks,hesaidwerebecomingpooling mechanisms for insurance, stressing that whether operators like to admit it or not, insurance companies are fast changing roles from being product manufacturers to administrative service providers.

MDXI Partners Asteroid

One of West Africaâ€™s largest data centre provider, MDXI and global IXPplatformprovider,Asteroidhavegoneintoapartnershiptolaunch a carrier-neutral Internet Exchange Point (IXP) for West Africa. TheWestAfricanInternetExchange(WAF-IX),isbasedonAsteroidâ€™s lightweightdesignandwillbelocatedinMDXIâ€™sTierIIIDataCentre,in Lagos.OutliningthethreemajorobjectivesforWAF-IXasaccessibility, lower costs and reduced latency for Internet users in West Africa, Product Manager, MDXI/Peering Coordinator, WAF-IX, Vremudia Oghene-Ruemu stressed that the new Internet Exchange would complement national IXPs, improve regional traďŹƒc and ultimately foster the attainment of the digital economy across West Africa. â€œGiven the size of its markets and status as home to some of Africaâ€™s biggest economies, West Africa is uniquely positioned to scale up its digital transformation eďŹ€orts via Internet traďŹƒc growth. â€œThe West African Internet Exchange, hosted within our globally certiďŹ ed Data Centre will signiďŹ cantly improve traďŹƒc exchange and localisation within West Africa, with beneďŹ ts of reduced latency, improved speed and better quality of service to end users. WAFIX will enable more Africa-focused global and local carriers take advantage of the regionâ€™s growing Internet penetration to enable services originating and terminating within the regionâ€?, he said. West African Internet Exchange would facilitate improved interconnection, collaboration and peering between players with access to MDXIâ€™sTier III data centre, and would enable an ecosystem that allows customers connect to multiple networks, cloud and content providers.

â€œWe are planning to solve todayâ€™s problems, liberalise participation in the sector, and enable private sector undertake the business of generating and distributing power, which it contracted to do with the privatisation programme that took place in 2013

Minister of Power,Works and Housing

Mr. Babatunde Fashola

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INVOLVE PRIVATE SECTOR IN INFRASTRUCTURE FINANCING, FG TOLD Balogun recently said the government should use the capital market to fund infrastructure. Bolaji, who is the Chairman, Lafarge Africa Plc and Chief Executive Officer, Chapel Hill Denham, Mr. Bolaji Balogun, said that Nigeria has several opportunities to use the capital markets to achieve all of its key objectives and lift its economy to sustainable growth. According to him, capital market, in the right hands, can be the â€˜strategic weaponâ€™ for sustainable growth as it can finance Nigeriaâ€™s infrastructure, housing, create jobs and alleviate poverty. He said all of Nigeriaâ€™s challenges, which represent significant opportunities, have capital markets solutions as the market can be used to finance and invest in developing physical and social infrastructure, housing and real estate. â€œInfrastructure will ignite Nigeriaâ€™s agriculture and mining, transforming them into big export earners. INSURANCE INDUSTRY ENDANGERED PROFESSION, SAYS NCRIB BOSS aspects are fully discussed,â€? he stated. The National Insurance Commission (NAICOM) recently decided to obey a Federal High Court order, which had directed the regulator to stop the implementation of its proposed recapitalisation exercise for the industry, pending the expiration of a pre-action notice. The commission, had shifted the deadline for implementation of the policy from the initial January 1, 2019, to October 1, 2018. Justice Muslim Hassan had given the court order in a class action brought by some shareholders of insurance companies in Nigeria, challenging the new minimum solvency capital policy proposed by the NAICOM. This followed the decision by NAICOM to revise backward, the recapitalisation deadline from the January 1, 2019, it had earlier fixed, to October 1, 2018, which stirred controversy in the industry.

Group Business Editor

Experts Urge FG to Address Constraints Facing FMCGs Jonathan Eze Some economists and industry operators have decried the unfavourable operating climate and called on the federal government to urgently address the constraints and challenges facing the Fast Moving Consumer Goods (FMCGs) sector in the country. Speaking on a programme monitored on Channels Television, the chief executive of the Financial Derivatives Company Limited, Mr. Bismarck Rewane, in response to a question, listed some bottlenecks facing the under-performing companies in the above-mentioned sector which is also affecting their financial performance to include infrastructural constraints, low purchasing power and an unpredictable business environment. Rewane said: â€œSome of these constraints are selfinflicted. Take for example the Apapa gridlock, take for example the cost of funding, and low productivity. So we have all of these things. But more importantly is that in the National Income Identity Equation, you have government expenditure, but the most important component of this is investment. Total investment in Nigeria is about $65 billion; it is less than 17% of the total Gross Domestic Product (GDP). â€œA combative regulatory environment; an extortionary regulatory environment and policy making environment is what kills investment. And investors are not interested in

what you say because what you do is more important than what you say. What you are doing could be combative or disruptive while what you are saying is creative. â€œTalking about flour, price of wheat has gone up by almost 30 per cent in the last year or 18 months. But the price of wheat now in Nigeria has gone up by almost 10 per cent The result is that, and the exchange rate has moved, okay now positively and they have the availability of foreign exchange; good news. â€œBut the reality is that Flour

Mills of Nigeria has shown a 10 per cent drop in revenue, and a 15 per cent drop in PBT (Profit Before Tax). Honeywell has two per cent, three per cent dropped in revenue and 83 per cent drop in profit. Everybody is suffering this. â€œThe problem is that there is low purchasing power. You know we havenâ€™t done the minimum wage review for the past eight or nine years. There is low purchasing power; there is drop in productivity and there is high-interest rate environment.

â€œSo people are confronted with all of these things and therefore you need to do something dramaticâ€?, Rewane advised. The financial market expert added: â€œThe cost of the Apapa gridlock is about N2 billion a day while the cost of the subsidy is about N4 billion a day. If you add those two together, itâ€™s N6 billion; infact that is 50 per cent of the budget of Nigeria. If you just deal with those constraints of the Apapa gridlock and the subsidy, deal with it.â€? His response also corrobo-

rated the factors identified by the Group Managing Director/ CEO of Flour Mills of Nigeria Plc, Mr. Paul Gbededo, recently. Gbededo had in an interview, also enumerated challenges facing flour millers and the need for government to encourage inclusive, sustainable and enforceable policies to encourage local investors. He also called for greater control on the quality of imported and home-grown wheat and better infrastructure, especially access routes at the factories and ports.

PRODUCT LAUNCH

L-R: Head of Category Africa, PZ Cussons, Gazie Decker; Group Brand Development and Activation Manager, Vivian Akindele; Actress, Dakore Omobola Egbuson; Brand Manager, Morning Fresh, Ahusimere Ejiroghene and Head of Marketing, PZ Cussons Consumer, Mr. Charles Nnochiri, at the Morning Fresh relaunch event held in Lagos...recently SUNDAYADIGUN

â€˜Why Work on Uyo-Ikot Ekpene Road Was Delayedâ€™ Okon Bassey in Uyo More facts have emerged as to the cause of the delay for the completion of the controversial 25kilometer Uyo-Ikot Ekpene road the immediate past state administration awarded 2011 at the cost of over N71 billion. While the immediate past administration publicised that the road was done up to 18 kilometers remaining only three kilometres for its completion, the current state administration strongly disputed the claim. The Akwa Ibom State Government said the clarification became necessary following the claim by the then Governor, Godswill Akpabio that Governor Udom Emmanuelâ€™s administration abandoned works on the

road. Works on the dual carriage road that links the state capital, Uyo with the neighbouring Abia and Imo States through Ikot Ekpene local government area is still on-going eight years after the contract was awarded and large chunk of the money paid. The State Commissioner for Works, Akparawa Ephraim Inyang-Eyen in an interview with reporters in Uyo, said it was totally untrue for Senator Akpabio to claim that his administration completed 18 kilometres of the 25 kilometres road before leaving office. He explained that the contract for the construction of the road was awarded to Julius Berger in 2011 at initial cost of N28, 364,575, 803.22, but on September 12, 2013, when the actual work

started it was again reviewed upwards by the sum of N23, 516,228,339.00 billion. â€œAgain, there is what they call additional works; the contract was reviewed again on the 25th of September, 2014 with the sum of N19, 448,373,217. 67 bringing the total value to N71, 359, 177, 114.59â€? he said Inyang-Eyen noted that, â€œthe bulk of this money had been released,â€? and without 50 per cent of the works achieved as the road was hurriedly commissioned in the early month of May 2015 before the exit of then Governor. â€œI want to, for emphasis, say that the structure that stood at Ikpe Annang that you turn to go to Essien Udim is at kilometer 15 and that building never went down until February, 2017 that

this government of Governor Udom Emmanuel sourced money about N141million and paid the owner of that property to take down that property. So it is not possible for the previous government to have gotten to kilometer 18,â€? he stressed. The commissioner maintained that the contract did not even take into consideration the flood, the outfall drains that were supposed to have been done on the road. â€œIt is this administration of Governor Emmanuel that is coming up to consider constructing drains because all the communities on that road are having flood situations. â€œWe are considering how to now do the outfall drains so my question would be if you say this road was abandoned at

N71billion and in three years it was supposed to have been finished in December 2014 and with two monetary revisions, why was it not completed? Where did the money go to? These are very simple questions. â€œThe only challenge we have on that road that kept that road was that we didnâ€™t meet any money that we were supposed to use to pay compensation. â€œAnd these facts have to be given to the public with figures and dates because you cannot deny truth; it has to be brought out and I have chosen as having the responsibility for that construction infrastructure to bring out these details and I am determined to bring out the details of other such awards when the need arises.

ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ Capital Market Editor

Ă™ĂŽĂŽĂŁ Ă‘Ă?Ă˜Ă? AgriBusiness/Industry Editor

Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ Ă¤Ă? Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents

Ă’Ă“Ă˜Ă?ĂŽĂ&#x; Ă¤Ă? (Aviation) Ă“Ă˜ĂŽĂ‹ ĂœĂ™Ă•Ă? (Labour) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Cap Mkt) Ă”Ă“Ă™Ă?Ă™Ăœ Ă–Ă“Ă•Ă? (Energy) Ă‹Ă—Ă?Ă? Ă—Ă?Ă”Ă™ (Nationâ€™s Capital) Reporters

Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;Ă™Ă‘Ă“Ă? (Maritime)

Killing of Farmers,Threat to Food Security in Nigeria, Says NRC Jonathan Eze Repeated attacks on farmers may aggravate the food crisis in north-eastern Nigeria, the Norwegian Refugee Council (NRC) has warned. Therefore, the NRC said there was need to protect farmers always. The council said it was horrified by the killing of at least 12 farmers in Kalle village, Borno state recently. â€œThe level of violence

registered lately in Northeast Nigeria is alarming. Farmers have been easy targets. These attacks risk making people too afraid to cultivate their land and may worsen the existing food crisis,â€? said Anja Riiser, area manager for NRC in Maiduguri. â€œFarmers should be able to cultivate their land and return to their families alive,â€? she added. The latest attacks against farmers underscored the vulnerability of rural communities,

even as the authorities are encouraging displaced people to return home to rebuild their lives. â€œWe were on the farms when about 15 armed men surrounded us,â€? Haruna, who escaped the attack, told NRC staff. â€œThey took the men to a tree and started slaughtering them like animals. They repeatedly said they will not allow any of us to harvest the crops we cultivated this year,â€? he added.

At least, 1300 people were reported to have fled after the attacks and many have taken refuge at a displacement camp in Maiduguri. Families and friends of the slain farmers said they are too scared to return to their farms. â€œMy children and I stood by as they killed my husband. I cried and pleaded for their mercy, but they didnâ€™t listen. I will never return to the farm again,â€? said Indagiju, who fled

the village. The attacks on farmers risk worsening the existing food crisis in Northeast Nigeria. It is estimated that 2.9 million people are facing acute food insecurity in the north-eastern states of Adamawa, Yobe, and Borno where violence has been on the rise. Crops have been destroyed and food stores looted, while farmers have either been killed or forced to flee their fields.

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Sâ€™East Industrialists Urged to List on NSE David-Chyddy Eleke in Awka Entrepreneurs in the southeastern part of the country have been enjoined to work towards getting their companies quoted on the Nigerian Stock Exchange (NSE) to ensure that they outlive their founders. Chairman of Cutix Cables Plc, Dr. Okechukwu Mbonu, made the call during the Annual General Meeting (AGM) of the company in Nnewi, Anambra State. Mbonu, also said there were gains in individuals taking advantage of the opportunities available in the financial market, through purchase of shares. He said getting listed on the stock market was good

for survival and longevity of companies while investing could yield huge financial benefits for the individual. The chairman said it was unfortunate that not much of the companies in the south-east were listed on the Exchange, saying this was responsible for the low individual investors in shares. â€œThe question is: how many privately owned companies in the south-east are listed on the stock exchange? Not many of them in this part of the country. â€œPeople must begin to understand the benefit and value they can derive from investing in the financial market, that is why you see companies going to money market and individuals investing in stocks.

â€œThe south-west is ahead in terms of investment and share ownership because of number of listed companies there and they know the value, but it is a gradual process. â€œWe urge you, the media to help us educate people from this part of the country on the immense benefit of not only investing in stock market but also taking your company to the financial market,â€? he said. The event witnessed a change of baton in the office of the Chief Executive Officer of the company as Mr Ifeanyi Uzodike, handed over to Barr Mr Ijeoma Oduonye. The AGM was hugely attended by shareholders of the company, and also witnessed the election of new directors into the company.

Kachikwu Bags Award as PTI Graduates 1086 Students Sylvester Idowu in Warri The Minister of State Petroleum Resources, Dr. Ibe Kachikwu, was recently honoured by the Petroleum Training Institute (PTI) during its graduation ceremony. The Petroleum Training Institute, established by Act No. 37 of 1972 as amended by Act No. 2 of 1973 and PTI CAP P16 of the Federal Republic of Nigeria 2004, is mandated to produce skilled Technical Manpower for the Nigerian Oil and Gas industry, arrange conferences, seminars for oil production. Principal and Chief Executive Officer of PTI, Professor Sunny Iyuke, while speaking at a media briefing on the sidelines of the convocation ceremony, said the minister was honoured with the â€œPTI Life Recognition Award,â€? for his invaluable contributions to the development of the institute and the oil and gas sector. He disclosed that a total of

1086 technologists and technicians were awarded the Higher National Diplomas, National Diplomas and the PTI General Certificates. Iyuke, said of the number, 53 passed with distinctions while 356 bagged Upper Credits boasting that the graduates were well baked to international standards. In realisation of PTI objectives, he said the institute had worked very hard to fulfil the aim of the federal governmentâ€™s content policy and the 2015 change agenda of President Muhammadu Buhari by developing and training competent manpower specifically for the sector. â€œSince inception, the institute has graduated over 46,000 technologists and technicians in different disciplines. â€œThe PTI is changing its focus from local certification to international certification and training bodies. â€œThe aim of the collaboration is

to produce fit for purpose world class indigenous technical manpower to drive the Nigerian oil and gas industry in line with the global best practice,â€? he added. The Principal/CEO reiterated several achievements of his administration since he assumed office in July 2016 to include rejigging Research and Development (R&D) to carry out industry-solution research on the nationâ€™s refineries and allied companies; collaboration with the University of Port Harcourt to commence postHND programmes in all field of engineering, whicAh would lead to award of Bachelor of Engineering (B. Eng) to graduates of the school. Others, he said, included construction of a 300 seater theatre hall on the main campus; renovation of academic block; construction of a standard swimming pool at Aladja; amongst others.

HCM Introduces New Product Hollandia ChocoMalt Drink is now available in a new 180ml pack. The new pack was intended to provide an entry point for adults and upsize for kids, while building on the commercial success the brand is enjoying following its launch in 2017. Retailing at N100, the new 180ml pack comes handy with a straw, and is affordable and convenient, with the promise of instant nutrition to consumers. A statement from the company explained that for consumers, Hollandia ChocoMalt Drink

which is filled with the goodness of milk, energy giving malt and delicious chocolate, would take away the hassles and inconvenience involved in preparing Choco-based beverage drink the traditional way because it can be consumed immediately after opening. It is expected to consolidate the growth and rising market appeal of the brand, as well as make the product available to a wider spectrum of young consumers who desire a satisfying and functional beverage that can be consumed at any time. According to the Managing

Director, Chi Limited, Mr. Deepanjan Roy, the growing popularity of Hollandia ChocoMalt Drink â€œreflects how its ready-to-drink convenience and quality instant nutrition is driving consumer demand for packaging sizes tailored ever more precisely to their specific lifestyle needs in an increasingly dynamic market. â€œWe are aware of consumer expectations from us, and the new Hollandia Choco Malt Drink 180ml pack is a great example of how we are innovating with pack sizes to satisfy consumersâ€™ demand.â€?

AfDB Rolls Out Climate Risk Financing Initiative The African Development Bank (AfBD) has approved the Africa Disaster Risks Financing (ADRiFi) Programme, the institutionâ€™s first climate risk management programme to boost resilience and response to climate shocks in regional member countries. The comprehensive programme, open to regional member countries, would enhance their ability to evaluate

climate-related risks and costs, respond to disasters and review adaptation measures at both national and sub-national levels. It would also facilitate initial financing for countries in need of support. The programmeâ€™s initial phase is expected to run from 2019 to 2023. The enhanced resilience and adaptation of countries to the negative impacts of climate change, as well as disaster risk

insurance cover, will reduce the vulnerability of the poor to climate change and act as a safeguard against loss of livelihoods in communities, especially for smallholder farmers. Nine countries have already expressed interest in participating in the programmeâ€“ Burkina Faso, Chad, Gambia, Madagascar, Malawi, Mali, Mauritania, Niger and Senegal.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

The Lioness and the Lion â€“ Double Standards? Last week several foreign newspapers and news networks â€“ CNN, BBC, Global News, Telegraph, The Guardian UK, Washington Post, New York Post, Independent UK, Quora, NBC, The Sun, People Magazine, to name a few carried the story of the lioness that killed the father of her three cubs at the Indianapolis Zoo this week. According to the reports, Indianapolis zoo staff said they heard â€œan unusual amount of roaringâ€? at the lionsâ€™ outdoor yard early Monday morning. When they arrived, they saw a female lion, Zuri, in a physical confrontation with their adult male lion, Nyack. â€œZoo personnel made every effort to separate the lions, but Zuri held Nyack by the neck until he stopped moving,â€? the zoo said in a statement. Zoo veterinary staff conducted a necropsy on Nyack and found that the 10-year-old male died of suffocation from injuries to the neck. The two lions were housed together at the Indianapolis Zoo for eight years and produced three cubs, zoo officials said. According to staff logs, there were no previous examples of aggression between Zuri and Nyack. â€œWe know many people loved visiting Nyack. He was a magnificent male lion and left his legacy in his three cubs,â€? the zoo said in a statement. I found the story fascinating because every time I logged onto any social media site or newspaper site, this story confronted me. It got me thinking. Why did she change so much and what triggered her attack to a point where the damage could not be undone? In addition, if the occurrence had been the other way around, with the male lion being the aggressor, would it have garnered so much attention or coverage? My conclusion was no. To further buttress my assertion, I asked others, who also concluded that if the gender had been male, the attention to the news would not have been so protracted and heavily covered. I then juxtaposed this situation to the workplace and how men and women are viewed, especially at the managerial level and above. In doing this, I conducted research, one of which was by Everwise, their publication titled, â€œHow Does Gender Bias Really Affect Women in the Workplaceâ€?. The publication discussed the fact that, â€œassertive, confident, and dominant are just some of the characteristics associated with leadership, yet when we think of employees that have those traits, we generally tend to think of men. The reasoning is years of hardwiring from a biological and anthropological history of women playing the role of nurturing caregiver. And sure women work differently than men, leaning towards a more collaborative style, but how does gender bias really affect women in the workplace?â€? As I read each variation of the lioness and lion story in the various publications, it was clear to me that just like what happens in the workplace where the men are seen as being ambitious and assertive and women as supportive and nurturing has shaped what is expected of women was exactly what was playing out in the unfortunate situation. Plenty of research has been conducted on the roles women are expected to play and when it seems out of the â€˜normâ€™ or â€˜expectationsâ€™ indicated above, the situation becomes uncomfortable or as in this case sensational. Sheryl Sandberg noted in her article, â€œMadam CEO, Get Me a Coffee,â€? where she evaluated the role of women as helpers in the office. She said, women

will offer help more often in a communal setting making it easy for their contributions to disappear. In a study by New York University psychologist, Madeline Heilman, participants evaluated the performance of male and female employees who did or did not stay late to help their colleagues. After offering identical help, a manâ€™s offer to help was rated 14% more favorable than a womanâ€™s and conversely, when both men and women declined to help, the woman was rated 12% lower than that of a manâ€™s.â€? Everwise goes on to say, â€œThe role of office helper seeps into tasks such as note taking, fetching coffee, mentoring young workers, or cleaning and organizing the office. Such role relegations stick women in a rut, often supporting C-level suites executives, difficult to rise above their delegated roles and be considered for promotions.â€? When women do not exhibit the character trait of helper, or want more, they are seen as being contrary and not good team players. To further complicate matters, men and women are given different performance expectations despite the fact that the work requirements are the same. The expectation is that male workers are expected to be assertive, confident and domineering and when they lack these character traits they are advised to work on developing these traits. But, when women exhibit these same traits they are called aggressive and told to tone it down. According to Everwise, â€œin a study where a total of 248 reviews from 180 people were collected, 58.9% of reviews for men contained critical feedback compared with 87.9% of the reviews received by women. And though men and women were both given constructive feedback, women received feedback that also included suggestions to â€œpipe down.â€? The feedback included observed personal traits as coming off too aggressive, abrasive, watching their tone, taking a step back to let others shine, and to be less judgmental. Another study conducted by Yale University found that others, especially those in power, view women who talked a lot negatively. Finding them â€œdomineering and controlling,â€? and consequently less suitable for leadership positions than men who spoke the same amount. Though such traits are often associated with leadership skills, when applied to women, are seen as a negative.â€? The resultant observation is that women who go against these stereotypes are seen as violating their roles as women and punished. It is usually a no win situation, women who showcase their abilities, are seen as not being modest, those who are skilled negotiators are seen as violating passivity, and if you dare get angry thatâ€™s a complete no, no. Whereas in a man, it would be called a strength. Many of the bias situations I have indicated above, are usually done unconsciously. Organizations are manned by people who have been conditioned by their cultural backgrounds and societal norms and these traits leak into the workplace. A lot of these biases are hidden and bleed into performance evaluations, first impressions, likability, promotions, job assignments, etc. Companies need to actively review their work space to create a balanced, fair and open environment and encourage women to overcome these situations without going into extremes like our lioness to overcome how they have been positioned.

Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

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Sterling Bank Sustains GrowthTrajectory The 39 per cent growth in profit recorded by Sterling Bank Plc in its nine months results was a reflection of bright prospects by the company, writes Goddy Egene â€œWe will continue to execute the plans to drive efficiency across the business under the three pillars of agility, digitisation and specialization in the new financial year. â€œThese pillars will propel us toward sustainable growth by enhancing our ability to innovate; solidify our retail funding base; strengthen our enterprise-wide risk management framework and drive excellent service delivery across all channels to enhance customer experience.â€? The above were the words of Managing Director/Chief Executive Officer of Sterling Bank Plc, Mr. Abubakar Suleiman to shareholders at the last annual general meeting of the bank in May 2018. At that meeting, the shareholders received a dividend of two kobo per share. However, there is every reason for the shareholders to be hopeful of higher dividend at the end of the 2018, considering the nine months results of the financial institution. All the words of assurance given by Suleiman have translated to improved performance for the nine months ended September 30, 2018. Nine Months Financial Results The unaudited nine months results that the commercial bank over came the pervasive low growth in the banking sector with 21 per cent and 39 per cent growths in gross earnings and profit after tax respectively. Specifically, gross earnings rose by 21.1 per cent to N114.6 billion in 2018, from N94.6 billion recorded in comparable period of 2017. The top-line performance was driven by growths in both interest and non-interest incomes as non-interest income rose by 31.2 per cent from N16 billion to N21 billion while net interest income increased by 7.8 percent from N36.9 billion to N39.8 billion. Net operating income improved by 26.3 per cent to N57.2 billion in 2018 as against N45.3 billion in 2017. Sterling Bank sustained a steady growth in profitability as profit before tax (PBT) grew by N8.5 billion or 29.5 per cent as against N6.5 billion in corresponding period of 2017, while profit after tax (PAT) rose by 39 percent from N5.9 billion to N8.2 billion. Earnings per share thus improved from 21 kobo to 28 kobo, thereby raising prospects of higher dividend payout. Also, underlying ratios showed improvement in the intrinsic value of the bank. Pre-tax return on average equity improved from 9.6 per cent in 2017 to 10.8 per cent in 2018. Post-tax return on average equity also increased from 8.6 per cent to 10.4 per cent. Return on average assets was steady at 1.0 per cent while cost of risk improved from 1.8 percent to 0.8 percent. The balance sheet of the bank equally indicated increasing acceptance of the bankâ€™s brand and continuing supports of the bank to the growth of the national economy. Customer deposits increased to N723.2 billion by September 2018 from N685.0 billion in December 2017. Sterling Bankâ€™s net loans and advances increased by 10.7 per cent to N662.0 billion from N598.0 billion in December 2017. Total assets improved to N1.08 trillion as against N1.07 trillion recorded at the beginning of the year while shareholdersâ€™ funds increased from N102.9 billion in December 2017 to N106.2 billion in September 2018. The bankâ€™s liquidity ratio (LR) improved from 30.5 per cent in December 2017 to 34.4 per cent in September 2018 while Capital Adequacy Ratio (CAR) stood at 11.4 per cent. Non-performing loan ratio (NPLR) improved considerably from 6.2 per cent to 5.4 per cent. CEO Explains Performance Speaking on the results, Suleiman said the bank has been able to sustain its steady growth due to focused implementation of its strategic intent of exceeding customersâ€™

Suleiman expectations. According to him, the 31.2 per cent in non-interest income was driven by a growth in trading and transaction banking revenues, as the bank continues to prioritise efficiency of its digital banking platforms to support its retail drive. Suleinman said: â€œOur strategic intent to be more customer-focused has continued to yield results. One of such recorded in the last quarter is the increase in the volume of transactions processed through our various electronic platforms since the start of the year. â€œWe achieved over one million monthly NIBBS Instant Payment transactions as at July 2018, a 73 percent increase from the start of the year and expect to see continuing traction in this regard.â€? He disclosed that the bankâ€™s Series 2

Our strategic intent to be more customerfocused has continued to yield results. One of such recorded in the last quarter is the increase in the volume of transactions processed through our various electronic platforms since the start of the year

Notes issuance of N19.7 billion under its N39 billion debt issuance programme was oversubscribed. He added that the net proceeds from the issuance would be recognised as Tier II capital after the regulatory approval. Suleiman said the buffer provided by the additional capital would give room for business expansion across the bankâ€™s focus growth areas including health, education, agriculture, renewable energy and transportation sectors. â€œGoing into the final quarter of the year, we aim to complete the ongoing implementation of a number of digital-led initiatives in line with our digitisation drive. This is expected to further intensify the bankâ€™s retail drive,â€? he said. Support for Customers Sterling Bank places high premium on customer service, a fact many of its customers testified to during the celebration of 2018 Customer Service Week. Speaking on his experience as a customer of Sterling Bank for 14 years, Managing Director and Chief Executive Officer of Suntaal Oil and Gas Limited, Otunba Sunday Tawose, said: â€œI have been a consistent customer of the bank due to the support I have received over the years to grow my businesses and because of this I have continued to recommend it to my family members and friends as one of the best banks to bank with.â€? Tawose, who started out as a transporter moving oil products from Conoil depots in Rivers State to various parts of the state, said he decided to go into business because he was born into a family of entrepreneurs. â€œMy businesses are doing very well. I have a filling station and an event centre

in Port Harcourt in Rivers State. I have been banking with Sterling Bank Plc since 2004 from Equitorial Trust Bank (ETB), one of the banks that merged with NAL Merchant Bank Plc and others to become Sterling Bank,â€? he explained. As part of its efforts to enhance customer service, the bank had a campaign called â€œSenior Management Hour.â€? The campaign was designed to bridge the gap between senior management and staff across the nation as it provided an opportunity for the bankâ€™s senior management to visit branches, bond with staff, and lead through exemplary customer service by attending to the needs of customers. According to the bank, the goal was to have a firsthand experience of the daily activities of staff as this would aid in identifying operational and welfare issues that need to be resolved. The campaigned provided some of the senior management team an opportunity to share words of wisdom with staff while also attending to customers who took advantage of their presence to make demands. â€œThe initiative brings senior management closer to the bankâ€™s workforce as well as customers. Sterling Bank remains committed to strengthening its relationship with customers in fulfillment of â€œYour One-Customerâ€? promise. A customers of the bank, Mr. Mohammed Ibrahim Daura had applauded the initiative as he was surprised to see an executive director in the banking hall serving customers. He said that the executive directorâ€™s attention to customer needs gave him more confidence in the bankâ€™s services. Daura, who is the Chairman of M.I. Daura Enterprises Limited, said he lives in the northern part of Nigeria but banks with Sterling Bank because of the quality of its customer service.

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Stimulating Non-oil Exports Jonathan Eze writes that the Export Expansion Grant scheme is a vital incentive required to stimulate export-oriented activities The Export Expansion Grant (EEG) Scheme was introduced via the Export (Incentives and Miscellaneous Provisions) Act (amended in 1992) to stimulate non-oil exports. The scheme is administered by the Nigerian Export Promotion Council (NEPC). The scheme was suspended in 2014, to review and redesign it, in order to prevent abuse and ensure that the it is fit for purpose. Prior to its suspension, the incentive was granted in form of a negotiable duty credit certificate (NDCC) utilisable by exporters for payment of import and excise duties. The NDCC has now been replaced with the Export Credit Certificate (ECC). The revised guidelines were released and effective from January 1, 2017. To facilitate its implementation, a budgetary provision of N20 billion was made in the 2017 budget for settlement of the grant. The previous administration had commenced the issuance of EEG to genuine exporters. However, it was suspended in 2007 due to duplicitous claims and counter-claims by stakeholders over who and who should indeed benefit from the package. The development had led to the accumulated sum of N350billion owed to exporters between 2007 to 2016. Highlights of the Revised Guidelines Exporters are divided into four categories with maximum applicable EEG rates as indicated below: fully manufactured products: 15 per cent, semi-manufactured products -10 per cent, processed/intermediate products -7.5 per cent, merchants/primary agricultural commodities â€“ five per cent. It states that proceeds of qualifying export transactions must be fully repatriated within 300 days calculated from export date and as approved by the EEG implementation committee. Exporters are also required to present an Export Expansion Plan as a prerequisite for participating in the EEG scheme. However, the ECC can be used to settle all federal government taxes such as VAT, WHT, companiesâ€™ income tax etc. It can also be used to purchase government bonds and repay government credit facilities and debts due to the Assets Management Company of Nigeria (AMCON). The ECC is valid for only two years and transferable once to final beneficiaries. To fund the administration of the scheme, EEG beneficiaries are to pay two per cent of the value of the ECC upon collection of the certificate and four cost of collection when utilised. According to a report released in 2017 by PricewaterhouseCoopers Limited, it stated that he revision and reintroduction of the EEG scheme was a reflection of the federal governmentâ€™s commitment to export promotion but advised that to ensure effective implementation of the scheme, potential challenges around financial reporting should be addressed. Owing to the significance of this policy and its importance to the growth of the countryâ€™s export, stakeholders in the non-oil sector have been urging the National Assembly to give its legislative nod for the issuance of the federal governmentâ€™s N350 billion Promissory Notes to them in continuation of the Export Expansion Grant (EEG). However, it appears that after the executive arm has done its bit, the legislature wants to sit on the policy; a situation which analysts and economic watchers say would lead to de-industrialisation, massive loss of jobs as well as lull in non-oil exports. The Federal Executive Council had sent three matters for the formal approval of the National Assembly earlier in the year. The three executive resolutions bother on EEG claims, payment of construction contractors and pensions. Whereas NASS had since rectified the latter two items, there have been no legislative actions yet on the EEG claims, making tongues to wag about the governmentâ€™s seriousness concerning its economic diversification programme and export promotion drive.

The EEG no doubt, is a very vital incentive required to stimulate export-oriented activities that will lead to significant growth of the non-oil export sector. To ensure transparency, it provides for claims payable to individual exporters depending upon the value and volume of products exported (as outlined in the EEG Policy Circular of Federal Ministry of Finance) and the individual rating as per the company baseline data (also outlined in the EEG Policy Circular of the Federal Ministry of Finance). The company baseline data is based upon the audited financial results of the exporting companies and is based on the audited results of the company filed at the CAC (Corporate Affairs Commission) and it verifiable by the NEPC before it even begins to process any EEG application. This means that how much that is eventually paid out is based upon the claims processed and approved by the EEG Implementation Committee meetings, a committee which draws membership from such agencies of the federal government as the Federal Ministry

The government has done all that is necessary for the takeoff of this programme. Right now, we are waiting for the National Assembly to reconvene and then they will grant approval for that promissory note programme. â€œThere are other debts that are coming under the promissory note programme

of Finance, Federal Ministry of Industry, Trade and Investment, the Central Bank of Nigeria, the Nigeria Customs Service, the Federal Inland Revenue Service, the Federal Ministry of Budget & Planning and the Nigeria Export Promotion Council, Beyond that, the EEG claims are first audited by the PICA ( Presidential Initiative on Continuous Audit) which normally includes calling for comprehensive documentary submissions from the individual exporters and also extensive field visits to the exporters facilities. However, the present situation surrounding the settlement of EEG obligations appears to be threatening its noble objectives. Having made a lot of sacrifices with investors keying into the EEG initiative, non-oil exporters in the country appear being short-changed for now. This is because they are currently owed outstanding payments running into several billions of naira in respect of the EEG. In fact, the Executive Director and Chief Executive Officer, Nigerian Export Promotion Council, Mr. Segun Awolowo put it at over N1 trillion, saying that the payment was expected to commence as soon as the National Assembly gives its approval. Awolowo, however, gave assurance that the government had processed the promissory notes and concluded plans to start payment but was waiting for final approval from the National Assembly. â€œThe government has done all that is necessary for the take-off of this programme. Right now, we are waiting for the National Assembly to reconvene and then they will grant approval for that promissory note programme. â€œThere are other debts that are coming under the promissory note programme. So hopefully, if the National Assembly reconvenes before the end of the year, everything will be implemented. â€œThey hold the requisite promissory notes issued in lieu of the export values but have not been able to claim the monies dueâ€?, he said. It is important to note that the EEG claims of non-oil exporters, referred above, have been processed and approved at the series of meetings of the EEG Implementation Committee (EEGICM). And when they made enquiries, the exporters under the EEG scheme were made to understand that the Ministry of Finance

had forwarded the request for payment of promissory notes for the EEG to the National Assembly, adding that it was awaiting NASS approval to enable the Finance Ministry to proceed further with issuance of Promissory Notes. Some Nigerian exporters who spoke to THISDAY, stressed the need for expedited action so that the delay in settling the grant would not affect their operations. â€œWe are really expectant on the National Assembly, because the monies involved is huge and the delay in payment is hamstringing Nigerian exporters,â€? the Executive Director of the Export Think Tank, Mr. Jude Ajuonu said. â€œIf there are policies that should be expedited, it is ones tending on promoting the export sector. All over the world, countries are seeking to maximise the export market, and Nigerian should not lag behindâ€?. Also, Mrs. Mojisola Adenekan, expressed optimism that the members of the assembly would do justice by promptly approving the payment as a way of triggering increased activity in the export sector. â€œI personally believe that this government is committed to increasing the capacity of the country to export. The EEG is a veritable tool to achieving that, and it behoves on all concerned to see that the grant is promptly signed and disbursed.â€? In his remarks, the Chairman, MAN Export Group, Chief Ede Dafinone, commended the federal Government for reviving the EEG, especially with the expansion of the use of the Export Credit Certificate and transfer of the ECC. â€œAs a result of this expansion, our members will be able to transfer the ECC to a third party and use it to settle all Federal Government taxes as well as purchase of government bonds and settlement of credit facilities by development banks and liabilities of the Asset Management Company of Nigeria.â€? Indeed, one of the main policy initiatives of the President Muhammadu Buhari administration is the re-focusing of the nationâ€™s economy from oil-based to non-oil sectors. As a result of this, the federal government had promised to beam searchlight on the export sector; how to expand and promote the sector for much needed foreign exchange, industrial growth as well as job and employment creation.

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NAICOMâ€™s Strive for Virile Insurance Sector The need for insurance industry to find its bearing in Nigerian in the economy has made National Insurance Commission to introduce policies capable of transforming the sector, writes Ebere Nwoji For more than a decade now, the National Insurance Commission (NAICOM) has been making the efforts to transform the insurance sector and make it generally acceptable with the aim of making the industry contribute meaningfully to the countryâ€™s Gross Domestic Product (GDP). The commission in this regard tries to ensure that the operating firms have adequate capital with industry operators playing according to market rules in the area of official premium charges and claims payment among others . These efforts dated back to the days of Chief Oladipo Bailey as the Commissioner for insurance to Fola Daniel and to the present regime of Alhaji Mohammed Kari. But a critical examination of these efforts vis-a-vis the outcomes shows that despite some improvement in the area of patronage and awareness of the industry by the populace in recent years, NAICOM and the operators are yet to fully reap the benefits of their efforts in popularising insurance. One of the reasons for this remains the fact that both the regulator and the operators are not working and walking at the same pace in their efforts in this regard. For instance, in the past, the operators often relied on the legislative powers of the court to successfully shorten the arms of the regulator. This situation often keeps the industry at a stagnant position for a whole business year and even more, before both parties would reach an agreement. This happened in the days of Bailey, Emmanuel Chukwulozies as commissioners of insurance. Only Daniel was successful and today, Kari is facing similar situation. The Chairman, Progressive Shareholders Association Nigeria, Boniface Okezie, however, blamed the regulator. According to him, NAICOMâ€™s recent directive for operators to shore up their capital was the worst mistake any regulator will make, considering that the country has an upcoming general election. Raising Awareness Indeed, most Nigerians especially those in rural areas, going by the result of a NAICOM survey, have no idea of what insurance is all about and what benefits are there for them because of lack of education on insurance. To addressed this, the commission, had designed a programme tagged: â€œReaching the Unreached.â€? This was targeted at bringing more Nigerians under insurance coverage. Speaking on the programme, NAICOM Director of Authorisation, Pius Agboola, noted that one of the greatest challenge in serving Nigerian population with insurance services is distance, adding that whereas banks have successfully spread their branches to the remotest parts of the country, insurers were yet to do so. According to him, branches of insurance firms are only located in capital cities and at best in state capitals. He said in north-east, for instance, out of 112 local governments, it is not certain that there is a branch of insurance company there. According to him, in north west, out of 126 local governments, 106 branches of different banks are there but insurance firms have no representative branch, adding that the story is the same with some parts of north central . The result is that due to overconcentration of insurance firms and their marketing staff and agents in the cities and too much focus on corporate business and government accounts with little or no efforts towards development of retail market which is available in these neglected rural areas, operators resort to cutting corners in order to grab the available businesses and grow their premium income. This has resulted in unhealthy competition that gave rise to the prevailing rate slashes which is now killing the industry. The Deputy Commissioner for Insurance, Technical, Mr. Sunday Thomas, said the commission would look at how to penetrate every nook and cranny of Nigeria with insurance services. He said the commission has some strategic

policies on how to sustain all the achievements it made in the previous years in its effort to deepen insurance penetration in the country. But Thomas, said one of the things NAICOM was targeting is fighting against unhealthy competition especially as it concerns pricing of insurance products. Also NAICOM Director, Research, Statistics and Corporate Strategy, Habila Amos, said the fundamental issues in the Nigerian insurance market presently is that the industry contributes only 0.48 per cent to the GDP and is dominated by brokers and general business of which motor insurance and oil and gas insurances are the largest products sold in the market. complaint bureau unit and facilitation of index

Due to overconcentration of insurance ďŹ rms and their marketing staff and agents in cities and too much focus on corporate business and government accounts, with little or no efforts towards development of retail market which is available in these neglected rural areas, operators resort to cutting corners in order to grab the available businesses and grow their premium income

based agricultural insurance for farmers protection and enhanced food production in the country. Meanwhile, Kari stressed the need for recapitalising the sector based on risk bearing capacity of each firm. He had insisted that low capital base of the operators remained the bane of the industryâ€™s growth. He said while the operators were busy dragging NAICOM to court over capital increase, the banking sector has upgraded its capital several times. He insisted that the industry must match up with the trend outside the shores of Nigeria if it must remain a competitive industry. However, the commissionâ€™s determination in this regard has been punctured by a recent court action instituted by shareholders in the industry who were instigated by some operators that felt threatened by the exercise. Observers have said that if NAICOMâ€™s efforts to restructure the industry through the aforementioned initiatives and programmes were backed by positive actions by operators, the industry would have achieved its primary target of winning mass patronage and growing the premium income of the industry as well as the overall target of contributing meaningfully to the GDP. .Their thinking was the use of alternative distribution channels approved by NAICOM. But again, the disagreement between the Central Bank of Nigeria, (CBN), the Nigerian Communication Commision(NCC) and NAICOM posed a stumbling block. Operators also complained that in the face of the micro insurance business, the initial experience may not be palatable if there is no practical steps to implement compulsory insurances and intensify efforts in insurance awareness. On tier base capital increase, their complaints was the time limit for final implementation and the categorising of their operations into tier one, tier two and tier three operators. Some of the operators complained that the tier based capitalisation did not build protection for the small firms that would operate at tier three level, arguing that the commission had exposed them to free competition with the big players in tier one. According to them, the insuring public would prefer to deal with tier one firms even with the least assets they want to insure since they are

in the same market with the tier one operators. The complaints came despite the length of time and several consultations between the regulator and the operators especially at the insurersâ€™ committee meetings before the official announcement of the tier based capital increase. This spells the need for government through NAICOM to find a way of arriving at a point of agreement with the operators before coming out with initiatives as well as the need for operators to boldly lend their voices to the initiatives before implementation commences. It also points to the need for government to beef up its insurance attitude to lead the public by example. In any business, especially the services sector, government has remained the highest spender and biggest customer. If government at all levels change their attitude towards insurance, premium generated from state and local government insurances alone would be enough to sustain insurance firms. This being the case, government should be at the fore front of implementing the compulsory insurances in order to encourage the citizens to comply. If government does not want the insurance sector to go the way of textile firms in Nigeria which continued to lament over governmentâ€™s lip service until the demise of the last textile firm in the country, government should listen to the advice of NAICOM which is federal government adviser on insurance matters regarding the insurances of its assets. For instance, till date, some government ministries, departments and agencies(MDAs) are yet to heed to NAICOMâ€™s advice on establishment of insurance desks in their offices. What this means is that assets of such agencies including their motor vehicles are without insurance cover and government employees work without group life insurance cover. The implication is that in the event of anything happening to such worker, his family would be left without any compensation and in the event of any uninsured government vehicle including presidential jet having accident, the third party involved has made the list of victim of hit and run vehicle because the driver of such vehicle would as usual assume that because it carries federal or state government number, he is free to hit anybody and go free.

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Mustapha: Experiential Marketing, Tool to Engage People for Value The Chief Executive Officer of Maxxconnection, an experiential marketing agency based in Lagos, Owolabi Mustapha, in this interview with Mary Nnah, speaks about opportunities in the sub-sector Experiential was a major form of brand connection in 70s, before it dropped and the picked up again in the late 90s, why did that happen? It was not experiential that time. It was just promotional activity as part of advertising. The traditional advertising used to have a part. At that time, there were not really media independent agencies. The practice then used to be a one-stop shop where advertising agency used to have media and promotion department among others. With the evolving and dynamic world, the media has to change direction. Because of the evolution of media in conventional advertising, they had to carve out their niche out of advertising. What is your assessment of the experiential marketing industry so far? The industry started very small some years back. Advertising and other segments of Integrated Marketing Communications (IMC) have always led the pack until about a decade ago when experiential took the center stage. That was about seven years ago. But it is interesting to see these days that everybody now appreciates the value of what experiential has brought in the mix of marketing. Today, multinational now invest more in the experiential industry. There is no other way to create an experience beyond experiential. Though digital is very key now and it is the new kid on the block, but it can take out the interaction and experience that experiential will naturally bring to the table because it naturally connects the brands and services to the target audience. It is argued that experiential is expensive in that basket of media, PR, advertising and digital. How true is that? No one can say that experiential is expensive. It is about value and value comes with cost. The argument whether it is expensive or not should not arise because it is a particular service that gives the most value. Others donâ€™t translate to target engagement. Experiential can also provide the data that propel the business into the future. The value of experiential is not quantifiable. Another challenge is that experiential is limited in scope and area of operation? In marketing, you need to identify the challenges that you want to address. After that you still need to distil your target audience. If my target audiences are in a particular area, I donâ€™t need to waste time and resources being everywhere. If you target audience is entire nation, of course experiential marketing can address it. There are different strategic approaches to address different challenges. If you want to do sampling, road-show or merchandising require different approach depending on the challenge. The experiential marketing has come to stay as clients are appreciating the value of really engaging more with the audience. Majority of multinational companies have more of experiential agencies than the other agencies. This is global phenomenon. They know that value derivable from experiential is high. If you want to reach out to mass without focus target, you can employ advertising. But what next, perhaps PR and let people read in the newspaper and value of the product in the newspapers. But it gets to the point that the product needs to be dropped directly to the people that need the service. It is an end to end communication approach. The value comes when the people engage the product or buys the product and it is experiential that can deliver on that promise. To what level would you say the government has engaged experiential ďŹ rms to deliver services to the citizens? It is interesting to know that some of the biggest campaigns from government are handled by experiential firms. For instance, one of the biggest campaigns in Lagos is the count-down in December. This is a multi-million project. The activities around it are driven by experiential firms. For us, we have worked with a couple of state governments in Nigeria. We have done lot of political campaigns. Other experiential

Mustapha firms are doing other activities for other states. agencies are doing very well. They come up Experiential marketing is one of the biggest tools with ingenious creativity. We have done job for a client that involves brand engagement, sales and to engage people for value. CSR at the same time. Any other IMC segment What is the place of measurability in will address just one of it but we addressed the experiential marketing activities as clients three challenges. The Nigerian Bottling Company campaign of taking people off the street was are passionate about impact? There are different approaches to measurement. conceptualized by us. It was an idea of taking It depends exactly on what you are measuring. people off the street without applying force by If it is data, experiential marketing delivers it giving them opportunity to sell NBC products and that is why multinationals are engaging and rewarding them with N1 million. experiential agencies. Secondly are the connection How do you see experiential business in and the experience which experiential gives. We are bringing experience that is uniquely designed the next ďŹ ve years? A whole lot of things will change for us and for for a particular product on the table. I repeat that experiential is not about cost but the value. the industry in the next five years. There will be Unique experience that comes with experiential a lot of strategic association and affiliation either marketing lives with the people and it leads local or foreign. Experiential will be placed in a to uptake. In terms of creativity, experiential better position as it is happening globally. There will be a lot of mergers and acquisitions in the industry. Also there will a lot of tech driven activities in the industry.

In marketing, you need to identify the challenges that you want to address. After that you still need to distil your target audience. If my target audiences are in a particular area, I donâ€™t need to waste time and resources being everywhere. If you target audience is entire nation, of course experiential marketing can address it

You left your former employer to form Maxconnection 5 years ago, so what actually motivated you to start the ďŹ rm? Movement is normal occurrence in human life either through challenges, the creativity ingenuity and other couple of indices will determine movement. We looked at the industry and there were some quacks within the industry space, others are not tech driven and we thought that there was need for a unique agency that prides itself on creativity and technology. Our campaigns exhibit these features. Our Coca Cola was really driving engagement. Your work on Campari drink was marvellous with Tuface as the ambassador. Could you talk more about it? In Maxconnection, we take research very seriously. Before any campaign, we engage thoroughly on research. Research gives you an insight of what you want to do in the short, medium and long term period. We did extensive research on Campari as a brand. We looked at the journey of Campari and found that it was perceived a

drink for the old. But these days, youth mix it with their beer. The campaign was driven on proper positioning of the drink as a youthful brand. Again, Trophy Beer is now everywhere but some years ago, it was perceived as Yoruba, Illesa drink. We are part of the success story of that brand today. We put in a lot work in the look and feel of Trophy as a brand and the kind of penetration and unique consumer engagement. Today consumers demand is driving drinking places to sell Trophy. The consumers are telling the story. What is the strength of Maxconnecition? We pride ourselves to be very young and this reflects on the employees. We believe that the power belongs to the youth and that is one of the strengths. We have also tried to retain most of our staff since inception. What challenges have you navigated through in the last ďŹ ve years? The challenges are enormous. It is a systemic and national problem. For instance, the forex is not bringing strategic investment into the country. If this does not happen, it then limits most of the activities and number of clients for agencies. We have two clients that ought to have come in three years ago, and they are not certain about Nigeriaâ€™s system. Secondly electricity is a major challenge. It is costs us heavily to fuel the generator. There are a lot of unprofessional agencies in the industry and unfortunately, some clients still work with them because they charge ridiculous fees and some clients have got their fingers burnt. On our clients we have retains all of them. We started with Campari, ABbev, BAT, Coca Cola, Dangote, Eko Bank, Skye Bank, Super Sports, MasterCard, Uber and others. Experiential is a project led company and value chain system where everybody works together. The project cannot be executed within the confines of a department. You can create a department of five people for the project. Financing and funding is a major challenge for the business as single interest rate is difficult. Invoice discounting is what clients do.

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Population is not the Problem Victor Ariole There are more cats in Switzerland than there are human beings and those cats feed better than Nigerian labourers pleading to be paid 30,000 naira a month, about 86dollars. So, the question is: why are fellow human beings more interested in placing more value to cats, dogs and robots than fellow human beings in the globalising dispensation as they have come to agree that human beings are no more to be treated like animals. Slave trade is over, forced labour is over as humans seem to believe world over but human psychological debasement as search for better life continues, either in Mars or within the planet, shows that beside few who orchestrate hate speech, optimum population is far from being attained, if globalisation dictates is objectively pursued. In the end nature decides what is optimum and can make or mar human what humans plan. Nature as against human power differ in regulating the abundance made available to humans which is not well managed as greed still reigns. Notwithstanding, human beings are made to be on top of the pyramid of the food chain or ecosystem. Ironically, they alone depend on others to sustain their livelihood as their absence does not obliterate the growth of others because even when people have completely evacuated from poisoned zones other nonhuman life still grow there. Weakness of human knowledge has created enough catastrophe to totally annihilate humans on earth but small nature opening keeps them alive as reset or Buhari restore equilibrium intervenes. Chernobyl, They are mere outliers that must be Hiroshima and even Nigeria-Cameroun monitored and studied for whatever the border Nyos gas escape that limited its expected end result could fetch. They could killings to 15km radius are all evidence to only be tolerated and not made to be the prove that nature always intervenes. norm. Possibly their regenerated content Trying to defy nature some people are preaching what sadden some humans in their could give the world different species never known yet. Numbers describing quantiown civilisation drive as same sex reverse ties do not necessarily equate to seeing or upside down copulation, not to mention overpopulation. Some people are just there the real names, are thriving so as to reduce to be part of the numbers and they have to population or make reproductive process be obliged as long as they do not constitute irrelevant. problem to the the real population that And the planet earth is still populated really matter. The Apple CEO just confessed by brains that are still operating at their 10 that being homosexual or gay helped him a per cent capacity and needs more human lot in achieving great things and it should crossbreeding to get it above that percentage. be noted for research purposes as it still It cannot be by artificial process as it cannot remains an outlier. An African sage would create the spark that nature alone can tell you that in the house of a king all kinds surprise humans with as it has done through of human beings exist, good, bad, useful, creations. LGBTQI does not call for hate nuisant, and even those that pretend to speech and should also not call for adoption be imbeciles but are used for committing of innocent children if, indeed, people who crimes. So, population does not make support it intend to use it to reduce populaa nation useless or useful until the best tion.

among them decide how to categorise the population. In effect population is mere illusion until it is well defined the way the West define their own by telling the world those who contribute effectively to the growth of their wealth and those who are merely tolerated and handed meal ticket for as long as they live and do not create havoc in the society. The earthly space is still abundant the way it was noted that 86,000 years ago those known as currently asian tigers migrated from Africa and journeyed to their current space. So, if the sun re appears to the 24-hour charted geographic zones the same way for centuries and could be assumed to be moving at 300km per minute then it stretchable diameter still has rooms for human beings to migrate to, as globalisation beckons. Unless globalisation is meant to be a truce as the USA case proves and as caravans loaded with Hondurans for over 1000km journey heading to USA

tends to test that. Before migration to the new world many people died and ships journeyed for over six months to make provision available to the daring ones who needed to open the space and today the new world has over one billion people living in it with USA about 320million and Brazil about 200million dominating. Africa is about one billion in population with Nigeria about 190million and the decimated Congo Democratic Republic about 90million dominating. Nigeria should be thinking of optimising the African space instead of thinking of population policy that could never hold water just like Babangida regime decreed four children per woman that was never respected beyond what nature forced some people to observe as fertility capacity declined in the wake of the marketing of in vitro fertilisation. It is not that IVF caused it but contingent to its provision multiple birth became almost the norm as women started having triplet and quadruplet and Nigerians by their current fate started praising the Almighty for it. And it is said that a home where no baby cries is like a dead home by African standard. So, how is government going to change the mind-set of Nigerians? Japan is currently suffering under population and are planning how to mitigate it. That is â€˜osondi owendiâ€™ of Osita Osadede.Today Japan is where Carnival is held annually to celebrate penis and people do not see beyond the illusion of great plastic penis of different sizes displayed and adored by ladies moving in crowd. That kind of carnival is matched by the Brazilian type that show women in their nude displaying great curves of their shape and making sure you observe what will not make you think of them as transsexuals. And the greatest colony of Japanese is situated in Brazil - Sao Paulo. Africa has not got the population that can make it rethink yet if compared with South America where Brazil dominates and how they manage their ecology. For now it is like every Nigerian can still occupy about five football field on their own which is not available to any Israeli even if it canâ€™t compare with Canada where each person can occupy over 100,000 football field, there are still great deal of human intelligence and nature mix intervention that makes the population a no issue for the Africans as at now and calls for great thinkers to re position the human capital of Africa or Nigeria for greater prosperity. Prof. Ariole wrote in from the Department of French and Francophone Studies, University of Lagos

Lawmaker Calls for Stringent Monitoring of Petroleum Products Shola Oyeyipo in Abuja The National Assembly has been advised to step up its oversight functions on oil and gas regulatory agencies to ensure proper monitoring of movements of products as a way to end adulteration of petroleum products. House of Representative member, Hon. Joseph Edionwele

(PDP, Edo), who gave this advise in a chat with THISDAY recently, said inadequate monitoring of petroleum products marketers was giving room for the growing spate of adulteration of products with its attendance danger to lives and property. Edionwele, who moved a motion on the floor of the House last Thursday to call for action against the unabated

mixing of pure products with other substances, said attention must be given to every stage in the transportation of products from depots to the users. â€œThe way out is for the committee to take it seriously that these agencies should set up monitoring units right from the depots to the filling stations where the consumers get them to buy. If we are able

to do that adulteration will at least be minimised if not totally eradicated. â€œThey should set up a monitoring unit and if they are able to monitor it right from the depot down to the filling station; if they are able to do that, I donâ€™t think we will have such problem, but they are not monitored at all, they just load them,â€? he said.

â€œIt is an established fact that adulteration of petroleum products is rampant these days and there are lots of explosions in families. A lot of people who used adulterated kerosene and their houses have got burnt and those that use it for their vehicles their engine gets knocked and this is because potentially all our products are adulterated. â€œThis can be monitored if

the downstream committee calls the regulatory agencies and monitor them, we will be able to make a headway. Because, the product, right from Nigerian National Petroleum Corporation (NNPC) are not adulterated but as they come out the marketers adulterate them and they smile to the bank while a lot of people suffer their losses,â€? he added.

Inoyo said: â€œReady to Market is designed as a minimum of six months industry internship which would include a six week intensive hands-on competency based experiential learning programme. I am confident that it would be academically rewarding with practical assignment/project, continuous assessment and appraisal of trainees by host organisationâ€™s supervisors during the period of internship. â€œI am happy to announce

that this maiden project will be starting with a total of 50 participants on a free of charge basis and encourage more organisations to partner with CIPM in this program especially as this venture is one with numerous benefits and significant value. It positions each participating organisation as one of the leading brands that contribute to human capacity development in Nigeria, while showcasing your organisationâ€™s unique HR profile.â€?

CIPM Launches Programme to Train Future HR Experts Oluchi Chibuzor The Chartered Institute of Personnel Management (CIPM) has launched an internship programme, â€˜Ready to Marketâ€™ (RTM), targeted at intending human resource practitioners. The initiative is expected to help close knowledge and experience gap among fresh graduates who have successfully completed professional examination but have no practical exposure.

The programme was launched recently in Lagos, with first 50 participants registered to undergo the training which include a six- month industry internship and a six week intensive hands-on competency-based experiential learning programme. Speaking at the launch, the President/Chairman, Governing Council, CIPM and Vice Chair, Exxon Mobil, Mr. Udom Inoyo, said the scheme was part of the CIPMâ€™s contribution to national

development and the enhancement of the value proposition of their members. Inoyo stated that the observation of a huge gap in skill and readiness of graduates of tertiary institutions as well as freshly certified CIPM professionals, who may not have any prior experience of the demands of employers of labours led to the need to fast-track and enhance competence and eventual readiness for the market. He further said the pro-

gramme would address the perceived inadequacies in the Nigerian educational system and enhance participantsâ€™ employability as entry level officers with practice experience. According to him, the platform serves as a corporate social responsibility initiative and an opportunity to contribute to the development of the pool of professional talents in human resources and gain access to the brightest and most promising HR professionals

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Salami: Nigeria Must Expand its Fiscal Space to Boost Revenue Generation The Co-Chairman/Resident Commissioner, Nigerian Economic Summit Group, Fiscal Policy Roundtable, Dr. Doyin Salami, said the committee has a mandate to recommend policies that would lead to effective revenue collection as well as its efficient utilisation for development to boost inclusive growth. Jonathan Eze and James Emejo provide the excerpts: So, these are some of the changes that we really have to make. In my own view, over a period of time, Nigerian tax administrators are going to have to build some very specific capacity around data. There must be some triangulation of data. For me, it important that must be understood. You canâ€™t just have people running around to say theyâ€™re chasing IGR- how? Itâ€™s got to be more scientific. You know we often talk about headless chicken and the thing about that is very simple...youâ€™re running around: a lot of activity, a lot of energy but youâ€™re not getting away from where you are so that for me means therefore that technology has to come into play- and if technology is going to come into play, at least weâ€™ll start to stand a better chance. But for me, at the heart of it is the triangulation of data and by the time these data base starts talking to themselves, then we stand a better chance in terms of pursuing individuals, in terms of pursuing corporates.

What is the essence of the Fiscal Policy Roundtable of the NESG which you currently co-chair? Well, the idea is a very simple one. If Nigeria is going to grow; her fiscal space has to be expanded. Any which way you look at it and as you heard from our conversations, we are collecting seven and a half per cent of our total GDP in revenue and it already tells you we are potentially collecting one-third of what we could collect outside if we match the African average. Imagine if weâ€™d more revenues, then the opportunity for development through effective and efficient government spending on areas of national priority that boosts the economy, improves significantly. So, thatâ€™s what we are about; trying to see how we expand that fiscal space to be able to achieve what weâ€™ve been saying. Weâ€™re also clear that this is what we want to achieve and the â€œhowâ€? must also be there. The issues and the challenges must also be addressed so that by the time ideas, proposals are being put to the government, these ideas and proposals that have benefited from research, have benefited from reflection and also benefited from intelligent conversations. Itâ€™s not just us, itâ€™s the NESG working in collaboration with the development partners, with the civil society organisations towards trying to get an expansion of Nigeriaâ€™s fiscal space. What are the gaps so far identiďŹ ed in Nigeriaâ€™s tax system? When you say Nigeriaâ€™s tax system, at the heart of it for me itâ€™s about how are we raising revenues because tax is one way and at the heart of it is a very simple notion; revenues earned from non-oil taxation are ridiculously low: youâ€™re looking at seven and a half per cent total non-oil and the moment you recognise that the non-oil economy is ninety per cent of the economy and yet it contributes three per cent of revenues and immediately, itâ€™s a striking contrast which must mean the point about over-dependence on oil is already clear from just those two figures. Ninety per cent of the economy producing three per cent of non- oil revenues, thatâ€™s a problem and the key question is-whatâ€™s the problem? - Is it that there are some sectors that are not just adding input to taxation? Is it that we are not collecting the taxes? So, itâ€™s those questions that we are established to try and find answers to. Fiscal policy is both expenditure and revenue. A lot of the conversations have been around revenues simply because the whole argument is that we donâ€™t have money to spend. If we have more money to spend, then we could do more for the people. For me, we cannot continue to ask people to pay if they donâ€™t feel theyâ€™re getting value or anything for their money. Our mandate is not an exclusively revenue driven mandate, itâ€™s in part revenue, in part expenditure which is why the tilting is fiscal policy which deals with expenditure and revenues. You expressed concern about the countryâ€™s debt level and revenues not being sustainable. Why is this important? Well, itâ€™s not a matter of whether it has gotten to an alarming level. When you get to a situation where at current levels, almost fifty per cent of government revenues will be needed to service her debts. A lot had been said that debt to GDP ratio is still very low, however, whatâ€™s more relevant is the debt service to government revenue ratio and what weâ€™re looking at in that area, depending on how you measure it, is a minimum of about 45 per cent to 46 per cent and in some measures, itâ€™s as high as 56 per cent- which is why the IMF Resident Representative was very clear that even though it appears to have gone down between 2016 and 2017, but the reason why itâ€™s gone down is simply that oil prices have given us higher levels of revenue. Itâ€™s not as if our indebtedness has gone down. Indeed, if you look at the Medium Term Expenditure Framework, the government strategy in order to reduce interest rate or keep interest rates from rising is to try and borrow

Salami

more from the international capital market than the domestic market. So, the challenge is a very real one that if youâ€™re going to bring your debt ratio to revenue ratio down, there are only two ways: either your debt service goes down or your revenues go up. But again, I must emphasise that the expenditure side is as important as the revenue side. What are the structural reforms you think government can immediately implement to raise revenues in order to fulďŹ l its part of the social contract to the people? I think the issue around trust is a very important issue that we cannot gloss over. The first thing is that even though we speak of trust between people and government but donâ€™t forget that people in this context includes corporates. So, the corporate as a person- as well as the individual person in this context. One thing that we must make abundantly clear typically is that those at the top of the income pile in other countries who pay the most taxes, from the figures that were reeled out earlier, itâ€™s somewhere between three per cent of the population that paid anything between 50 and 75 percent of the tax revenues that government gain in other jurisdictions- and so to the extent that you can persuade them that the government use of their resources is efficient and effective. Then to that extent, you are able to incentivise them to be model citizens by paying. Now, when you say what are the structural things that can be done, well, to begin with, we need to underhand- if we say 90 per cent of the economy is producing three per cent of government revenues, then the first thing that you need to do is to understand what it is about the other sectors that makes it difficult for them to be tax producing. Something that was raised in the course of that conversation is the need to begin to take a look at various kinds of opportunities. Yes, a lot had been said about the reform of VAT- that Nigeria has one of the lowest VAT rates in the world and that we may

need to do something about that. But be careful because on the one hand, how effectively have we been implementing that VAT arrangements as we currently have it? How do you see revenue growth amid the fact that the real sector is currently under performing with inherent constraints? Well, Iâ€™m not sure that the real sector is not working. The economy is now beginning to grow albeit a bit slower than weâ€™d imagined but thatâ€™s not to say that the revenue potential is not there. Look, I must make that point as forcefully in my capacity as I can- number one, on the average, African countries collect 22.5 percent of GDP in revenues, Nigeria is 7.5 per cent which means itâ€™s one-third. So, for example, instead of us collecting 300, weâ€™re collecting 100. I think Libya is one of the countries that is recorded as doing about 40 per cent of GDP in government revenues. So, the first challenge is not about whether the real sector is growing, the real sector is growing slowly but even within the level of activity that is in there, the level at which the revenues are yielding to government is far lower than in pretty much other countries. I have a friend who was telling me that Afghanistan which is war-affected has a better revenue yield than Nigeria. And if thatâ€™s the case, you must see that there are things we need to do. One of the biggest challenges is we will also need to face is- remember a made a point about the top one per cent being responsible for the majority of taxes. The question is how much of that top one percent or top ten percent are actually paying taxes? And how many are paying correct taxes. Without data, itâ€™ll be very difficult to deal with this and in a system where patronage is a way of life. So, an important question is, are the top of our own income pyramid paying? If theyâ€™re not, what do we do about that? You know, the big man syndrome; tax collectors who should go after the big men, itâ€™s the big men who get their exemptions because theyâ€™ve the connections to call whoever can keep the tax people off their backs.

You talked about meting out some punishment for any infraction of the Fiscal Responsibility Act (FRA). What will this achieve in revenue administration? My presentation was very clear. What I was discussing was fiscal governance and one of the elements of fiscal governance is the rules that government, the budgetary process, and budgetary activities- and donâ€™t forget, budget is not just what you read- the budget is on the expenditure side, itâ€™s on the revenue side- the Fiscal Responsibility Act but the Procurement Act are all elements of budgetary and fiscal arrangements- and so, the question I was asking is that are we sure that the provisions of the law are adhered to. Okay, somebody raised a comment that either the National Assembly and maybe even the presidency had not remitted the PAYE which theyâ€™d deducted from their staff for a very long time. So they key question then becomes- when youâ€™re asking what structural things needed to be done- that thing about accountability is very important because the auditors cannot be releasing reports and you do nothing with them: it means thereâ€™s no consequence and once thereâ€™s no consequence, whatâ€™s going to be the basis for change. People are already worried over the issue of multiple taxation and yet there are further calls to explore more tax avenues. How do you resolve this? Donâ€™t forget we listened to the presentation from Kaduna State and one of the things thatâ€™s very instructive about the Kaduna experience is the fact that they now have a single tax authority that picks up taxes across all tiers and if you want to know which taxes youâ€™re liable for, you call them. So theyâ€™ve taken the process of streamlining. These are the kinds of initiatives that would prove to be useful because if you remembered the video clip that was played, people complained about the difficulty of actually finding out how much they are actually supposed to pay, to whom theyâ€™re supposed to paid, when theyâ€™re supposed to pay: so, all of that process kind of thing would be resolved. However, Kaduna might just be pointing a way to a direction where there might be a solution. Do you think the ongoing reforms in the countryâ€™s tax system are sufficient to improve revenue collection for government? Donâ€™t forget that reform is evolutionary: itâ€™s always ongoing. The environment in which we work is dynamic and so to that extent, the reform will continue to happen. The only way you know whether theyâ€™re adequate or not- itâ€™s when we wait say a year or two from now and that the increase in revenue but the effectiveness and efficiency of spending are rising, then you can say this is adequate or inadequate.

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EDUCATION Making Unity Schools Live Up to their Name In spite of the recent spate of violence in the country, especially against students, which is posing a threat to the peaceful coexistence of the people, General Yakubu Gowon, whose administration established the federal government colleges and named them unity schools, has reiterated that the motive was to strengthen the country and its people, irrespective of geo-graphical region, ethnicity, creed or beliefs. Kuni Tyessi reports

vailable statistics shows that 79,878 pupils sat for the National Common Entrance Examination into federal government colleges in 2018. In 2017, 78,378 sat for the exams and in 2015, 86,365 wrote the exams nationwide. Out of these figures, some were affected by performance, as they couldnâ€™t reach the pass mark, some by catchment areas, and yet, some were affected by parental influence and choice, thereby drastically affecting the number when juxtaposed with the total number of pupils in primary five or six, that are all expected to sit for the exams. The reasons might not be far-fetched which includes poor infrastructure in some of the schools, such as impoverished sanitary system, inadequate hostels and classrooms, which according to acceptable norms and standards, should accommodate not more than 30 students, bullying and sagging by senior students in the direction of junior students, all in the name of discipline, and poor quality of food being served the students among others. Most importantly, some of the schools have become soft targets for insurgents. Despite the fact that notable Nigerians passed through the various institutions and have become beneficiaries of the motive behind the establishment of the schools, little impact is felt in all spheres of national life, as hate, distrust, suspicion and other negative attributes hold sway. This is also considering the fact that only the best brains were considered for admission into the schools which have grown from four, as of the time of their establishment to 104, with some states having up to four. At this point, one begins to wonder why the voices of the beneficiaries have been drowned. Are they still members of the society, and what are the contributions they are making towards the Nigerian dream? This is not forgetting that Gowon who spoke at the 15th plenary of the Unity Schools Old Studentsâ€™ Association (USOSA), which held in Federal Government College (FGC), Jos, gave instances of when he visited FGC, Sokoto and saw how the students related in a cordial manner irrespective of their differences. According to him, â€œstudents from all over Nigeria were studying and living together peacefully and without rancour. There was no rancour whatsoever even though students were from different states and ethnic groups.â€? Also, General Muhammad Magoro in his remarks wondered why all levels of education in the country have special commissions to look after them while none exists for secondary schools, insisting that it will be apt to set up a national commission that will ensure and maintain standard in secondary schools just like the National Universities Commission (NUC) for universities and the Universal Basic Education Commission (UBEC) for primary schools. With the state of the nation, which has become everyoneâ€™s concern and with secondary schools often regarded as where peopleâ€™s characters and perceptions to life are moulded, the association has called for a swift, decisive political will to return the schools to their past glory and make them the envy of all by setting the pace, and most importantly, by ensuring the safety of staff and students. In a recently released communique, the Chairman, Caretaker Committee, Mr. Ayodele Jospeh and the Chairperson, Board of Trustees, Mrs. Aisha Oyebode condemned the spate of crisis in the country, ranging from conflict between farmers and pastoralists, to killings, cattle rustling and armed robbery, as well as kidnapping and the Boko Haram insurgency. They said the federal and state governments must bring to a halt all crisis situations that have continued to bedevil the country, and to make matters worse, the education system, with respect

The Minister of Education, Mallam Adamu Adamu to schools that have been affected. While recalling the massacre at the FGC Buni Yadi in Yobe State in 2014, the association said members remain firm believers in the unity of the country and are however not blind to its fault lines. The communique read in parts: â€œWe demand that federal and state governments show swift, decisive political will before, during and after all crisis situations to enable the necessary machinery of government find and bring perpetrators to book. It is imperative that government avoids creating impressions or latitudes that can be explored to create mayhem and plant crises in the country. â€œAn urgent dialogue with all communities affected by the farmer and pastoralist crises is advocated. We urge the parties to come with open minds to such platforms knowing that no sane person benefits from conflict. â€œWe note that Nigeriaâ€™s coping strategy is under immense strain and that does not bode well for our existence as a happy, united entity. We therefore challenge ourselves and all critical stakeholders with a call to action.â€? They also called on religious and faith-based groups to enlighten their followers on mutual respect and ensure that their words are of peace, while noting that no one is safe or immune from the consequences of the decimation of peace and harmony which has consequently affected the admiration that unity schools once enjoyed. No doubt, recent happenings have been troubling to all right thinking Nigerians regardless of ethnicity, political inclination, religious persuasion, age or gender; the spate of killings, destruction and displacements has affected life as well; known and even more worrisome is the accusation of a near genocide and the counter response. The consequences of these are plain to see; from the tensions in the land to utterances that questions national unity. The communique added: â€œWe, members of the USOSA are deeply concerned about this

development. We have benefited from a Nigeria built upon mutual respect, tolerance and solidarity across the Niger. We went to federal government colleges in the four corners of this country, far from home, in communities whose ways of life we have come to know and imbibe. We are therefore deeply saddened to see this avoidable situation, where distrust of each other and threat to safety and security of lives and property have replaced the positive values we were exposed to. â€œUSOSA has been deeply affected by the insurgency. You will recall the infiltration and killing of innocent school boys in FGC Buni Yadi, Yobe State in 2014. It was a rude shock with devastating consequences from which USOSA and the nation is yet to recover. All leave a terrible trademark of death, destruction, loss and trauma, with many injured and millions displaced. This situation leaves our country and all of us vulnerable, whether we live in, near or far away from these states. â€œWe remain firm believers in the unity of this country. We are however not blind to its fault lines. We note that Nigeriaâ€™s coping strategy is under immense strain and that does not bode well for our existence as a happy, united entity. We therefore challenge ourselves and all critical stakeholders with a call to action.â€? The association also stressed that it is imperative that government avoids creating impressions or latitudes that can be explored to create mayhem and plant crises in the country, thereby calling for an urgent dialogue with all communities affected by the crisis, which also serve as neighbouring communities where the unity schools are situated. â€œWe note and commend the effort of law enforcement agencies to stem the tide of killings. We further urge consistency of urgent action to deter conflict and protect lives. This is less costly than responding to crises that could be perceived as a pogrom.â€? As a way forward towards building lost hope and confidence in the minds of parents and

students who serve as the critical stakeholders, the association further emphasised on balanced reportage of events concerning unity schools, from entrance examination, admissions, catchment areas, quality of teaching, teachers and infrastructure and most importantly, security. â€œWe call on our media actors in the traditional and especially social media spaces to use speech responsibly. The social media has become more crucial with its ability to democratise access to and production of information. It has also become the source of untruths and disinformation, very dangerous for peace and democracy. We appeal to social media actors to self-regulate themselves and have truth and justice as their watch word. â€œFor the National Orientation Agency and related communications agencies in the states, there is no better time than now to spread the message of peace and discourage hate speech. As we draw closer to the 2019 elections, this becomes an urgent imperative. â€œReligious and faith-based groups must enlighten their followers on mutual respect and ensure their words are of peace. We commend the effort of those leaders who are already doing so. We urge an inter-faith approach and face to the response from religious leaders as these matters are primarily those of political economy before they can be termed religious, if at all they are. â€œNo one is safe or immune from the consequences of the decimation of peace and harmony. No one benefits from anarchy and disruption. We all should be found on the right side of history, along with those who do not fan the embers of ethnic or religious hatred, but lend their voices to enabling an understanding of the root cause of the problems.â€? If the dreams and aspirations of Gowon are anything to go by in the present unity schools and considering the current situation in the country, only time and the unfolding of events will prove such, however, the time to reinstate the lost glory is now.

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EDUCATION

Ibadan Boys High School Turns 80, Celebrates Aliâ€™s Philanthropy Ademola Babalola in Ibadan

ducation is generally perceived as the only liberator from the shackles of poverty and the only catalyst for national development. With this believe, Ibadan Boys High School was born. Hence, as part of activities marking the 80th anniversary of their alma mater, which has transformed their lives to benefit themselves and the society, dignitaries from all walks of life led by the National President, Ibadan Boys High School Old Boysâ€™ Association, Chief Bode Amao converged on Ibadan, the Oyo State capital to celebrate. Activities marking the event with the theme â€˜Celebration and Interventionâ€™ kicked off on October 24 with the inauguration of projects; the four-day event was rounded up with a gala/dinner night where awards of excellence were conferred on outstanding alumni. The school began with a visionary man, Chief â€˜Layide Oyesina. With only five pupils in a room in his house at Oke Bola, Ibadan in January 22, 1938, Oyesina was an uncommon dreamer. Armed with the Yoruba proverb that â€œuneasy lies the head that wears the crownâ€?, Oyesina was not a man who readily takes no for an answer. Within about four months after the schoolâ€™s commencement, the Ibadan Native Administration saw the doggedness in him and granted him six plots on which he erected a school building. As if that was not enough, a week or so later, he got six more plots to propagate mass literacy in Ibadan. That was how Oyesina, at 34, started the school he named IBHS, the second oldest private secondary school in Nigeria (now public); the first being Aggrey Memorial Secondary School, Arochukwu, founded in 1931 by another educationist, Dr. Alvan Ikoku. Prior to IBHS, Ibadan could only boast of the existence of Ibadan Grammar School and Government College, Ibadan established in 1913 and 1929 respectively. Admission to Ibadan Grammar School was strictly for all Church Missionary Society (CMS) missions across Nigeria because it was founded by Alexander Babatunde Akinyele, an Anglican Bishop who had encouraged members of the CMS to establish a secondary school in the ancient city. The GCI also founded by the Department of Education then in Lagos ensured that admission was not exclusive to neither Ibadan indigenes nor residents hence the resolve of Oyesina, an enterprising Ibadan indigene to change the dynamics by admitting more of his fellow indigenes in order to promote mass education; providing educational opportunities to all eager-learners. Decades down the line, the IBHS like every other public school has suffered neglect due to underfunding. It became worse with attendant decrepit and dilapidated classrooms until recently when the old boys came together to rescue it from its parlous state and rebrand it for quality learning.

L-R: The National President, Ibadan Boys HighSchool Alumni Association, Chief Bode Amao; Mallam Yusuf Ali, SAN; Mr. Oluwale Idowu; Prof. Moruf Adelekan; and Prof. Kunle Olowu, at the 80th anniversary of the school, held at the school premises in Oke Bola, Ibadanâ€Ś recently PHOTO: FELIX ADEMOLA Today, a visitor to the Oke Bola area of the city will be dumbfounded by the turnaround that had taken place in the past few weeks in the school, as activities to mark its 80th anniversary, which climaxed with the presentation of awards to deserving old boys, past and present principals and other spirited members of the public, took off in grand style. The school is now a beauty to behold as the fence, gate house and drainages have breath life once again into it. What about the paved interlocking from the school gate to all the adjoining classrooms carefully laid to leave visitors in awe? Other projects inaugurated for the anniversary included a multipurpose sports court; ICT facilities/ administrative office; e-library; sick bay; water reticulation; renovated science laboratories; renovated Oyesina Hall, among others. The seed planted 80 years ago has now grown in leaps and bounds producing high fliers in the society, including two former governors of the state; late Chief Kolapo Ishola who was governor between 1991 and 1993; Rashidi Ladoja, the current Osi Olubadan of Ibadan Land, who was governor from 2003-2007. Others include a former President of the Central Council of Ibadan Indigenes (CCII) and President of IBHS Old Students Association, Chief Bode Amao; a retired Deputy Comptroller of Customs, Dr. Olusegun Agbaje; Basorun Reuben Famuyibo;

Elder Dimeji Lawal and a media consultant, Mr. Taiwo Ogundipe and Chief Tunde Aluko who launched the magazine for N1 million. It was naira rain at the event as individual alumnus and set leaders pledged millions for the second phase of the rehabilitation of other structures in the school including the sports fields, hostel facilities and many more. One of the awardees and Senior Advocate of Nigeria, Mallam Yusuf Ali was specially recognised for his ceaseless financial support to the school as a worthy ambassador of IBHS. Ali, a passionate philanthropy, according to Amao has been using the Yusuf Ali Foundation, which he is the founder and sole financier to intervene in many public institutions by donating to the scholarship worth N2.088 million to 50 students of IBHS for WAEC and NECO exams. Ali, the current Vice-President of the school, singlehandedly reconstructed the fence with gate of the school after it was pulled down by the government for road expansion on Oke Bola/ Molete axis; special contributions to the success of the 80th anniversary and his latest promise at the grand finale celebration of the school to take over the renovation and complete rehabilitation of another building in the school; donation of a twin dormitory to the University of Ilorin; and donation of an 80-bed hostel to the Osun State University.

Aliâ€™s foot prints on the sand of time also included the donation of 30 unit ICT centre to the Obafemi Awolowo University, Ile Ife; a 10bed advanced trauma centre to the University of Ilorin Teaching Hospital; 30 unit ICT centre to the College of Law, Crescent University, Abeokuta; endowment of the Crescent University College of Law Building; 40 unit e-resource centre to the Kwara State Polytechnic, Ilorin; a brand new Kia Rio 2014 model to the University of Ibadan for use at the Department of Arabic and Islamic Studies; donation of 20-room luxurious hostel to Fountain University, Osogbo and reconstruction of Ratibi Mosque for his grandparent at Ifetedo. For all these philanthropic gestures and others, Amoo who presented Ali with the award of excellence for being the schoolâ€™s pillar of support, using his hard-earn wealth, professional feats to promote IBHS, also prayed God to repay him in multiple folds. Other awardees included Alhaji Tiamiyu Bello; Dr. Robert Okojie; Senator Ladoja; Prof Chukwuka Okonjo, the Obi of Ogwashi-Ukwu as the oldest living principal. The oldest old boy award was presented to 96-year-old Pa Oyenuga Richard Olakiitan; and a posthumous award went to Rasak Akinola. The highlight of the 80th anniversary of IBHS was the introduction of the annual Bode Amao Lecture, which will hold in October.

TETFund: Pro-Chancellor Decries FGâ€™s South-east COEASU Members Insist Discrimination against Private Institutions on Strike Akinwale Akintunde A former President of the Nigerian Bar Association (NBA), Chief Wole Olanipekun, SAN has faulted the federal governmentâ€™s discrimination against private tertiary institutions in the distribution and disbursement of the Tertiary Education Trust Fund (TETFund). According to him, TETFund is supposed to be an interventional measure of the federal government to tackle inadequate facilities in tertiary institutions, adding that the discrimination against private institutions is unconstitutional, illegal, immoral, unjust and indefensible. Olanipekun, who is the Pro-Chancellor and Chairman, Governing Council of Ajayi Crowther University, Oyo State, made this known at the 10th convocation ceremony

of the institution recently. The Senior Advocate of Nigeria said it is inconceivable and morally unjust for the federal government to keep on restricting the disbursement of funds from TETFund, which primarily come or are generated from collective revenue, to public institutions at the expense of private ones. He said various government agencies such as the Central Bank of Nigeria (CBN) and the Federal Inland Revenue Services (FIRS) release funds to TETFund as a channel for onward distribution to the various tertiary institutions in the country. He therefore called on the government to without any further foot-dragging, put a halt to the discrimination. â€œThe grundnorm of Nigeria is the Constitution of the Federal Republic of Nigeria 1999 (as amended), which,

by section 42 (1) (a) prohibits discrimination against any citizen of Nigeria in any form or manner through the application of any law, executive or administrative action of government. â€œApart from the fact that section 7 (1) of the TETFund Act is repugnant and inconsistent with section 42 of the constitution, it is inconceivable and morally unjust for the Federal Government of Nigeria to keep on restricting disbursement of funds from TETFund (which primarily come or are generated from our collective revenue), to public institutions at the expense of private ones. At a point in time, the erstwhile Vice-President of Nigeria, Namadi Sambo, was quoted as saying that the federal government would redress the injustice. That promise is yet to be honoured.â€?

The Colleges of Education Academic Staff Union (COEASU), South-east zone has vowed to continue its indefinite strike to press home its demands. The aggrieved lecturers said the action was triggered by governmentâ€™s failure to address key issues facing the college of education system and the countryâ€™s education sector in general. The Coordinator, COEASU, South-east, Dr. Tobechukwu Nwamaradi said the strike is total and urged all members of the union to stay at home until the government addresses their demands. He explained that education has taken a deplorable plunge under the watch of the present administration, adding that the recourse to strike by members was a necessary part after the government reneged

on its promises to the union. According to him, the federal government has failed to implement the 2014 needs assessment report on the 70 public colleges of education despite the implementation of a similar report of 2015 for another tertiary institution patronised by the children and wards of the elites. Nwamaradi said all the lingering issues that prompted the 2015 strike have not been addressed by the current government. He expressed disappointment that while similar challenges confronting other tertiary institutions are being addressed by the same government, those of the colleges of education were left in perpetual abeyance. He noted that the FGâ€™s disposition towards the public colleges of education confirms the perception

of the union that the current administration does not care about the less privileged, whose children constitute the majority of students in colleges of education â€œNo man can be courageous who has the fear of death in him. The threat of â€˜no work, no payâ€™ is not meant for us who have value for freedom, and who are meant to fear slavery much more than death. History has equally shown that excess marginalization almost always produces a violent reaction. Enough is enough of exploitative work. If this is the price we must pay to resuscitate the colleges of education system and reposition it for its onerous assignment, then let it be. We stand in solidarity for total and indefinite strike until FG accedes to our demands.â€?

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300 Maths, Science Teachers Undergo Intensive Training in Bayelsa Emmanuel Addeh in Yenagoa A total of 300 mathematics and basic science and technology teachers have completed a six-week intensive training on modern skills impartation techniques in Bayelsa secondary schools. The training, organised by the Nigerian Content Development and Monitoring Board (NCDMB), in partnership with the Bayelsa State Ministry of Education, held at the African University, Bolou Orua Campus, Sagbama. Speaking at the closing ceremony, Governor Seriake Dickson called on oil multinationals operating in the state to work more closely with the education sector to build capacity and open them up for the opportunities in the oil sector.

He said the role of teachers in nation building remains paramount, adding that untrained teachers pose a disaster to any society wanting to make progress. Dickson, who was represented by the Chief of Staff, Talford Ongolo, said his administration would continue to motivate the teachers through training and re-training. â€œMy dream is to see a society where teachers can be proud of what they are doing. As we leave here, your dream should be to attain excellence. Knowledge is dynamic; you need to continue to upgrade yourselves. Programmes like this are essential and as you go, review the notes you took. â€œThe governor views education as the bedrock of development and had actually done a lot in that area from

infrastructural development both in primary, secondary and tertiary institution, but all these will come to nothing if we donâ€™t take care of the aspect of teachersâ€™ involvement. â€œWe are adopting a systematic approach in addressing the needs of the sector and that is why we started with the infrastructural needs and now our attention is on the training and re-training of our teachers.â€? In his remarks, the Commissioner for Education, Mr. Jonathan Obuebite commended the teachers for comporting themselves in the best way possible, adding that they showed enthusiasm through the duration of the training. He said most of the time he spent with them during the training, the teachers took the project seriously

and admonished them to go out and influence most of their colleagues who were not privileged to attend the workshop. Also speaking, the Executive Secretary of NCDMB, Mr. Simbi Wabote argued that the future of the society depends on teachers, stressing that if teachers are not equipped with such trainings, the future would be bleak for science in the state. Wabote, who was represented by the General Manager, Capacity Building, Dr. Ama Ikuru, solicited the support of the board towards building the capacity of Nigerians. One of the beneficiaries, who emerged the best English Language teacher, Mrs. Uche Evans, from Southern Ijaw Secondary School, Oporoma thanked the state government for the opportunity.

L-R: The Chairman, Edo State Universal Basic Education Board (SUBEB), Dr. Joan Oviawe, the Vice-President, Policy and Partnerships, Bridge International Academies, Mrs. Adesuwa Ifedi; Director General, OďŹƒce of Education Quality Assurance, Lagos State Ministry of Education, Mrs. Ronke Soyombo; Executive Director, Nigeria Sovereign Investment Authority, Mrs. Stella Ojekwe-Onyejeli; and Head of Human Development, UK Department for International Development, Mrs. Pauline Seenan, during the launch of DfIDâ€™s EDOREN report in Lagos... recently

Union Bankâ€™s Edu360 Initiative to Foster New Collaborations in Education Funmi Ogundare Education stakeholders, including teachers, parents, school owners, investors, students and other key participants recently converged on Harbour Point, Victoria Island, Lagos for the first Union Bank annual education fair, edu360, tagged â€˜Investing in the Futureâ€™, designed to accelerate development and the much needed investment in the sector. The two-day programme also served as a platform for collaboration among stakeholders. In his remarks, the Chief Executive Officer of the bank, Mr. Emeka Emuwa reiterated its commitment to education as the bedrock of national development, adding that the edu360 is positioned to be the leading education platform in the country, facilitating collaboration among stakeholders within the sector. â€œThere is a lot of work to be done and we believe that the private sector, working closely with the government and other stakeholders, can play a critical role in fast tracking solutions to move the education sector

forward and preparing youths for the future.â€? In her keynote address, the Managing Director of The Education Partnership (TEP) Centre, Dr. Modupe Olateju-Adefeso highlighted the linkages between education and national development and drew examples from the health sector. She said education is a platform for national development which provides the skilled workforce, and expressed concern that the health sector is suffering greatly as a result of the mass exodus of professionals to other countries. â€œThe fact is that there is mass exodus of our healthcare sector to other countries and the reality is that training and education have a fundamental role to play in the development of the healthcare workforce and if we are not training our healthcare professionals appropriately, if we are not reducing the entry barriers for them, if we are not equipping them with skills and technology that they need for the 21st century, then there is no way we are going to improve as a nation.â€?

On the issue of capital flight, she said: â€œToday there are about 4,000 Nigerians working in the UK and other countries. Interestingly, Nigeria is a developing country and the countries we are subsidising are developed simply because we are not completing the training of our doctors, they are leaving Nigeria to complete their training and they are not coming back. We are subsidising because we should have invested in training them but they go abroad to improve their healthcare.â€? Olateju-Adefeso stressed the need for the country to create an enabling environment and a curriculum that is 21st century compliant that will allow Nigerian doctors to be globally competitive without necessarily going abroad. The Head of Commercial Banking, Mr. Adekunle Sonola said the education sector is in need of an intervention that would grow people and enhance the future of tomorrow, adding that the bank has been supporting schools by financing their infrastructure. â€œThe experience has been

phenomenal. We are partnering to ensure that we discuss schoolsâ€™ financial needs.â€? The Minister of Education, Mallam Adamu Adamu, who was represented by the Vice-Chancellor, University of Lagos, Professor Oluwatoyin Ogundipe, said the programme was auspicious because education deserves global attention that would ensure that the country gets maximum benefits. He spoke on the theme, â€˜Quality Education Investing in Our Futureâ€™, saying that education contributes to peaceful coexistence, eradicates hunger, ignorance, illiteracy and enhances learning. He called for an urgent intervention by the private sector through advocacy, funding, sponsorship of research and professorial chair, among others, adding that government cannot handle education alone. Over 200 teachers from public and private schools benefited from free training sessions as part of the bankâ€™s drive to upskill the workforce of the important sector. The teachers also received free teaching aids to support them.

PLEASE ALLOW ME BE A CHILD

Ăž ĂĄĂ‹Ă? Ă?Ă?Ă’Ă™Ă™Ă– Ă™Ă Ă?Ăœ Ă™Ă˜ ĂœĂ“ĂŽĂ‹ĂŁ ĂĄĂ’Ă?Ă˜ ĂœË› Ă™Ă‘Ă?ĂœĂ?Ëœ Ă“Ă—Ă“ËŞĂ? Ă?Ă‹ĂžĂ’Ă?Ăœ Ă?Ă™Ă&#x;Ă‘Ă’Ăž Ă—Ă? Ă™Ă&#x;Ăž Ă?ĂœĂ™Ă— ĂžĂ’Ă? Ă?Ă™Ă–Ă–Ă?Ă?ĂžĂ“Ă™Ă˜ ĂšĂ™Ă“Ă˜Ăž ĂĄĂ‹Ă˜ĂžĂ“Ă˜Ă‘ ĂžĂ™ Ă’Ă‹Ă Ă? Ă‹ ĂĄĂ™ĂœĂŽË› Ă“Ă—Ă“Ëœ Ă‹ Ă˜Ă“Ă˜Ă?Ě‹ĂŁĂ?Ă‹ĂœĚ‹Ă™Ă–ĂŽ Ă?Ă’Ă“Ă–ĂŽ Ă“Ă˜ Ă—ĂŁ Ă?Ă–Ă‹Ă?Ă?Ëœ ĂĄĂ‹Ă? ĂœĂ“Ă‘Ă’Ăž Ă‹Ăž Ă’Ă“Ă? ĂžĂ‹Ă“Ă– Ă–Ă™Ă™Ă•Ă“Ă˜Ă‘ Ă Ă?ĂœĂŁ Ă‹ĂšĂšĂœĂ?Ă’Ă?Ă˜Ă?Ă“Ă Ă? Ă‹Ă˜ĂŽ Ă?Ă’Ă“Ę°Ă“Ă˜Ă‘ Ă?ĂœĂ™Ă— Ă™Ă˜Ă? Ă?Ă™Ă™Ăž ĂžĂ™ ĂžĂ’Ă? Ă™ĂžĂ’Ă?ĂœË› Ă–Ă™Ă™Ă•Ă?ĂŽ Ă?ĂœĂ™Ă— Ă™Ă˜Ă? ĂžĂ™ ĂžĂ’Ă? Ă™ĂžĂ’Ă?ĂœË› ËŤ Ă‹Ă˜ Ă’Ă?Ă–Ăš ĂŁĂ™Ă&#x; ĂœË› Ă™Ă‘Ă?ĂœĂ?ËŁËŹ Ă‹Ă?Ă•Ă?ĂŽ ËŤ Ă“Ă—Ă—ĂŁ Ă“Ă? ĂœĂ?Ă‹Ă–Ă–ĂŁ Ă‘Ă?ĘľĂ“Ă˜Ă‘ Ă™Ă&#x;Ăž Ă™Ă? Ă’Ă‹Ă˜ĂŽĂ?Ë Ă?Ă‹Ă?Ă’Ă?Ăœ Ă’Ă? Ă?ĂœĂ“Ă?ĂŽË› Ă?Ă?ĂžĂ?ĂœĂŽĂ‹ĂŁËœ Ă•Ă?ĂšĂž Ă’Ă“Ă— ĂŽĂ™ĂĄĂ˜ Ă™Ă˜ Ă’Ă“Ă? Ă•Ă˜Ă?Ă?Ă? Ă?Ă™Ăœ ĂžĂĄĂ™ Ă’Ă™Ă&#x;ĂœĂ? ĂžĂ™ ĂžĂ?Ă‹Ă?Ă’ Ă’Ă“Ă— Ă‹ Ă–Ă?Ă?Ă?Ă™Ă˜Ë Ă‹Ă˜ ĂŁĂ™Ă&#x; Ă“Ă—Ă‹Ă‘Ă“Ă˜Ă? ĂĄĂ’Ă‹Ăž Ă’Ă? Ă’Ă‹Ă? ĂŽĂ™Ă˜Ă? Ă‹Ă‘Ă‹Ă“Ă˜ËŁ Ë›Ë›Ë› Ă‹Ă˜ĂŽ Ă’Ă? ĂžĂ?Ă–Ă–Ă? Ă‹ Ă–Ă™Ăž Ă™Ă? Ă–Ă“Ă?Ă? Ă˜Ă™ĂĄĂ‹ĂŽĂ‹ĂŁĂ?ËŹ ËŤ Ă‹Ă–Ă— ĂŽĂ™ĂĄĂ˜Ëœ Ă?Ă‹Ă–Ă— ĂŽĂ™ĂĄĂ˜ ĂœË› Ă™Ă‘Ă?ĂœĂ?ËŹ ĂœĂ?ĂšĂ–Ă“Ă?ĂŽËœ ËŤ Ă’Ă‹Ăž Ă’Ă‹Ă? Ă’Ă? ĂŽĂ™Ă˜Ă? ĂžĂ™ Ă&#x;ĂšĂ?Ă?Ăž ĂŁĂ™Ă&#x; Ă?Ă™ Ă—Ă&#x;Ă?Ă’ËŁ Ă? ĂžĂ’Ă?Ă˜ ĂšĂœĂ™Ă?Ă?Ă?ĂŽĂ?ĂŽ ĂžĂ™ ĂœĂ?Ă?Ă™Ă&#x;Ă˜Ăž ĂžĂ’Ă? Ă“Ă˜Ă?Ă“ĂŽĂ?Ă˜Ă?Ă?Ë› Ă“Ă—Ă“ Ă’Ă‹ĂŽ Ă?Ă˜Ă?Ă‹Ă•Ă?ĂŽ Ă“Ă˜ĂžĂ™ ĂžĂ’Ă? Ă•Ă“ĂžĂ?Ă’Ă?Ă˜ Ă‹Ă˜ĂŽ ĂžĂ‹Ă•Ă?Ă˜ Ă‹ Ă?Ă&#x;ĂŒĂ? Ă™Ă? Ă•Ă˜Ă™ĂœĚ‹Ă?Ă&#x;ĂŒĂ? Ă?ĂœĂ™Ă— ĂžĂ’Ă? ĂĄĂ™ĂœĂ• ĂžĂ™Ăš ĂžĂ™ Ă’Ă“Ă? ĂœĂ™Ă™Ă—Ë› ĂŒĂ Ă“Ă™Ă&#x;Ă?Ă–ĂŁ Ă˜Ă™Ăž Ę¨Ă˜ĂŽĂ“Ă˜Ă‘ Ă“Ăž ĂšĂ–Ă?Ă‹Ă?Ă‹Ă˜Ăž ĂžĂ™ ĂžĂ‹Ă?ĂžĂ?Ëœ Ă’Ă? ĂžĂ’ĂœĂ?ĂĄ Ă“Ăž ĂŒĂ?Ă’Ă“Ă˜ĂŽ Ă’Ă“Ă? Ă?Ă’Ă?Ă?Ăž Ă™Ă? ĂŽĂœĂ‹ĂĄĂ?ĂœĂ?Ë› Ă’Ă?Ă˜ Ă›Ă&#x;Ă?Ă?ĂžĂ“Ă™Ă˜Ă?ĂŽ Ă‹ĂŒĂ™Ă&#x;Ăž Ă“Ăž ĂŒĂŁ Ă’Ă“Ă? Ă‹Ă&#x;Ă˜ĂžĂ“Ă?Ëœ Ă“Ă˜Ă?Ëœ ĂĄĂ’Ă™ Ă’Ă‹ĂŽ Ă–Ă?Ę° Ă“Ăž ĂžĂ’Ă?ĂœĂ? Ă—Ă“Ă˜Ă&#x;ĂžĂ?Ă? ĂŒĂ?Ă?Ă™ĂœĂ?Ëœ Ă’Ă? Ă?ĂĄĂ™ĂœĂ? Ă˜Ă?Ă Ă?Ăœ ĂžĂ™ Ă’Ă‹Ă Ă? Ă?Ă?Ă?Ă˜ Ă“ĂžËœ Ă–Ă?Ăž Ă‹Ă–Ă™Ă˜Ă? ĂžĂ‹Ă•Ă?Ă˜ Ă“ĂžË› Ă“Ă˜Ă?Ëœ Ă˜Ă™ĂžĂ“Ă˜Ă‘ ĂžĂ’Ă? Ă?Ă‹Ă?Ăž ĂŒĂ?Ă?Ă™Ă—Ă“Ă˜Ă‘ ĂžĂ?Ă–Ă–Ě‹ĂžĂ‹Ă–Ă? Ă–Ă™Ă™Ă• Ă™Ă? Ă‘Ă&#x;Ă“Ă–Ăž ĂĄĂ’Ă?Ă˜ Ă›Ă&#x;Ă?Ă?ĂžĂ“Ă™Ă˜Ă“Ă˜Ă‘ Ă“Ă—Ă“Ëœ ĂšĂœĂ™Ă?Ă?Ă?ĂŽĂ?ĂŽ ĂžĂ™ Ă?Ă?Ă‹ĂœĂ?Ă’ Ă“Ă—Ă“ËŞĂ? ĂœĂ™Ă™Ă— Ę¨ĂœĂ—Ă–ĂŁ Ă?Ă˜Ă‘Ă‹Ă‘Ă“Ă˜Ă‘ Ă’Ă“Ă— Ă“Ă˜ ĂžĂ’Ă? Ă?Ă?Ă‹ĂœĂ?Ă’Ë› Ă&#x;Ă˜ĂžĂ“Ă? Ă“Ă˜Ă? ĂĄĂ‹Ă? Ă˜Ă™Ăž ĂžĂ™ ĂŒĂ? ĂžĂ™ĂŁĂ?ĂŽ ĂĄĂ“ĂžĂ’Ëœ Ă“Ăž ĂĄĂ‹Ă? Ă Ă?ĂœĂŁ ĂŽĂ“ĘŠĂ?Ă&#x;Ă–Ăž ĂžĂ™ ĂĄĂœĂ‹Ăš Ă’Ă?Ăœ ĂœĂ™Ă&#x;Ă˜ĂŽ ĂŁĂ™Ă&#x;Ăœ Ă–Ă“ĘľĂ–Ă? Ę¨Ă˜Ă‘Ă?ĂœË› Ă’Ă? Ă’Ă‹ĂŽ Ă?Ă™Ă—Ă? ĂžĂ™ ĂœĂ?Ă–ĂŁ Ă™Ă˜ Ă’Ă“Ă? Ă‘Ă&#x;Ă“Ă–ĂžĚ‹Ă‘ĂœĂ“Ă—Ă‹Ă?Ă?Ë› Ă’Ă?Ă˜ Ă?Ă’Ă? ĂŽĂ“ĂŽ Ă˜Ă™Ăž Ă?Ă?Ă? Ă“Ăž Ă™Ă˜ Ă’Ă“Ă? Ă?Ă‹Ă?Ă?Ëœ Ă?Ă’Ă? ĂĄĂ‹Ă? ÍˇÍˇ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă?Ă?ĂœĂžĂ‹Ă“Ă˜ ĂžĂ’Ă‹Ăž Ă“Ă—Ă“ ĂĄĂ‹Ă? ĂžĂ?Ă–Ă–Ă“Ă˜Ă‘ ĂžĂ’Ă? ĂžĂœĂ&#x;ĂžĂ’Ë› Ă™ĂœĂžĂŁ Ă—Ă“Ă˜Ă&#x;ĂžĂ?Ă? Ă“Ă˜ĂžĂ™ ĂžĂ’Ă“Ă? ĂœĂ?Ă–Ă?Ă˜ĂžĂ–Ă?Ă?Ă? Ă?Ă?Ă‹ĂœĂ?Ă’Ëœ Ă“Ă˜Ă? ĂœĂ?Ă?Ă™Ă Ă?ĂœĂ?ĂŽ ĂžĂ’Ă? Ă˜Ă“ĂŒĂŒĂ–Ă?ĂŽ Ă•Ă˜Ă™ĂœĚ‹Ă?Ă&#x;ĂŒĂ? Ă?ĂœĂ™Ă— ĂŒĂ?Ă’Ă“Ă˜ĂŽ Ă“Ă—Ă“ËŞĂ? Ă?Ă’Ă?Ă?Ăž Ă™Ă? ĂŽĂœĂ‹ĂĄĂ?ĂœĂ?Ë Ă“Ă—Ă“ Ă”Ă&#x;Ă?Ăž Ă?ĂžĂ™Ă™ĂŽ ĂžĂ’Ă?ĂœĂ? Ă?Ă’Ă?Ă?ĂšĂ“Ă?Ă’Ă–ĂŁ Ă–Ă™Ă™Ă•Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă?ĂĄĂ?Ă‹ĂžĂ“Ă˜Ă‘ ĂšĂœĂ™Ă?Ă&#x;Ă?Ă?Ă–ĂŁ Ă?ĂœĂ™Ă— ĂžĂ’Ă? Ă?Ă?Ă‹ĂœĂ?Ă’ Ă‹Ă˜ĂŽ Ă’Ă™ĂšĂ?Ă?Ă&#x;Ă–Ă–ĂŁ Ă?ĂœĂ™Ă— Ă’Ă“Ă? Ă‘Ă&#x;Ă“Ă–ĂžË› Ă˜ Ă’Ă“Ă? Ă–Ă“ĘľĂ–Ă? Ă—Ă“Ă˜ĂŽËœ Ă“Ă—Ă“ ĂĄĂ‹Ă? Ă‹Ă‘Ă‹Ă“Ă˜ ĂšĂ&#x;Ă¤Ă¤Ă–Ă?ĂŽË› Ă™ĂĄ Ă™Ă˜ Ă?Ă‹ĂœĂžĂ’ ĂŽĂ™Ă?Ă? Ă‹Ă&#x;Ă˜ĂžĂ“Ă? Ă“Ă˜Ă? Ă?Ă?Ă? ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă’Ă“Ă—ËŁ Ă? ĂĄĂ‹Ă? Ă Ă?ĂœĂŁ Ă?Ă?ĂœĂžĂ‹Ă“Ă˜ ĂžĂ’Ă‹Ăž Ă?Ă’Ă? Ă?Ă“ĂžĂ’Ă?Ăœ Ă’Ă‹ĂŽ ĂŒĂ“Ă˜Ă™Ă?Ă&#x;Ă–Ă‹Ăœ Ă?ĂŁĂ?Ă? Ă™Ăœ Ă’Ă‹ĂŽ Ă“Ă˜Ă Ă“Ă˜Ă?Ă“ĂŒĂ–Ă? Ă?ĂŁĂ?Ă? ÍąÍ´ÍŽ ĂŽĂ?Ă‘ĂœĂ?Ă?Ă? Ă‹ĂœĂ™Ă&#x;Ă˜ĂŽ Ă’Ă?Ăœ Ă’Ă?Ă‹ĂŽË› Ă?Ăœ Ă?ĂžĂ‹ĂœĂ? Ă“Ă˜ĂžĂ™ Ă’Ă“Ă? Ă?Ă‹Ă?Ă? ĂĄĂ‹Ă? Ă?Ă‹Ă?Ăž Ă?Ă?Ă˜ĂŽĂ“Ă˜Ă‘ Ă?Ă’Ă“Ă Ă?ĂœĂ? ĂŽĂ™ĂĄĂ˜ Ă’Ă“Ă? Ă?ĂšĂ“Ă˜Ă?Ë› ĂšĂœĂ™Ă—Ă“Ă?Ă?ĂŽ Ă“Ă—Ă“ËŞĂ? Ă?Ă‹ĂžĂ’Ă?Ăœ ĂžĂ’Ă‹Ăž ĂĄĂ™Ă&#x;Ă–ĂŽ Ă’Ă‹Ă Ă? Ă‹ ĂĄĂ™ĂœĂŽ ĂĄĂ“ĂžĂ’ Ă“Ă—Ă“ Ă‹Ă˜ĂŽ Ă’Ă™ĂšĂ?Ă?Ă&#x;Ă–Ă–ĂŁ Ă‘Ă‹Ă“Ă˜ Ă?Ă™Ă—Ă? Ă“Ă˜Ă?Ă“Ă‘Ă’Ăž Ă“Ă˜ĂžĂ™ ĂĄĂ’ĂŁ Ă’Ă? Ă’Ă‹ĂŽ ĂŽĂ™Ă˜Ă? Ă“ĂžË› Ă–Ă– ĂŽĂ‹ĂŁ Ă™Ă˜ĂŽĂ‹ĂŁ Ă‹Ă˜ĂŽ Ă&#x;Ă?Ă?ĂŽĂ‹ĂŁËœ ĂŽĂ?Ă?Ă“ĂŽĂ?ĂŽ Ă˜Ă™Ăž ĂžĂ™ Ă Ă“Ă?Ă“Ăž ĂžĂ’Ă? Ă“Ă?Ă?Ă&#x;Ă? ĂĄĂ“ĂžĂ’ Ă“Ă—Ă“Ë› Ă? ĂŽĂ“ĂŽ Ă‹ĂšĂšĂ?Ă‹Ăœ ĂžĂ™ ĂŒĂ? Ă Ă?ĂœĂŁ ĂšĂ?Ă˜Ă?Ă“Ă Ă? Ă‹Ă˜ĂŽ ĂžĂœĂ™Ă&#x;ĂŒĂ–Ă?ĂŽ Ă‹Ăž ĂžĂ“Ă—Ă?Ă?Ë› Ă?Ă‹Ă&#x;Ă‘Ă’Ăž Ă’Ă“Ă— Ă?ĂžĂ‹ĂœĂ“Ă˜Ă‘ Ă“Ă˜ Ă—ĂŁ ĂŽĂ“ĂœĂ?Ă?ĂžĂ“Ă™Ă˜ ĂĄĂ“ĂžĂ’ ĂžĂ’Ă? Ă–Ă™Ă™Ă• Ă™Ă? Ă‹ĂšĂšĂœĂ?Ă’Ă?Ă˜Ă?Ă“Ă™Ă˜ Ă˜Ă™ĂĄ Ă‹Ă˜ĂŽ Ă‹Ă‘Ă‹Ă“Ă˜Ë›

ĂĄĂ‹Ă? Ă Ă?ĂœĂŁ Ă?Ă&#x;ĂœĂ? ĂžĂ’Ă‹Ăž Ă’Ă“Ă? ĂŽĂ‹ĂŽĂŽĂŁ Ă’Ă‹ĂŽ ĂžĂ™Ă–ĂŽ Ă’Ă“Ă— ĂžĂ’Ă‹Ăž Ă™Ă˜ Ă™Ă˜ĂŽĂ‹ĂŁËœ ĂĄĂ™Ă&#x;Ă–ĂŽ ĂŒĂ? ĂžĂ&#x;ĂœĂ˜Ă“Ă˜Ă‘ Ă“Ă˜ĂžĂ™ Ă‹Ă˜ Ă™Ă‘ĂœĂ? Ă‹Ă˜ĂŽ ĂŒĂ‹Ă˜Ă“Ă?Ă’Ă“Ă˜Ă‘ Ă’Ă“Ă— Ă“Ă˜ĂžĂ™ Ă?Ă&#x;ĂœĂžĂ’Ă?Ăœ ĂšĂ&#x;Ă˜Ă“Ă?Ă’Ă—Ă?Ă˜ĂžĂ? Ă™Ă˜ ĂžĂ’Ă? Ă•Ă˜Ă™ĂœĚ‹Ă?Ă&#x;ĂŒĂ? Ă—Ă‹ĘľĂ?ĂœË›

ĂŽĂ?Ă?Ă“ĂŽĂ?ĂŽ ĂžĂ™ ĂžĂ‹Ă?Ă•Ă–Ă? ĂžĂ’Ă? Ă“Ă?Ă?Ă&#x;Ă? ĂŽĂ“ĘĽĂ?ĂœĂ?Ă˜ĂžĂ–ĂŁËœ Ă‹Ă˜ĂŽ Ă“Ă˜ ĂžĂ’Ă“Ă? ĂĄĂ‹ĂŁË? Ă?ĂŽĂ˜Ă?Ă?ĂŽĂ‹ĂŁ Ă‹Ă˜ĂŽ Ă’Ă&#x;ĂœĂ?ĂŽĂ‹ĂŁ Ă—Ă™ĂœĂ˜Ă“Ă˜Ă‘Ă? Ă‹ĂœĂ? Ă—ĂŁ Ă“ĂœĂ?Ă–Ă?Ě‹ĂžĂ“Ă—Ă?Ë› Ă—Ă‹Ă•Ă? Ă“Ăž Ă‹Ă? Ă—Ă&#x;Ă?Ă’ Ă‹ ĂŽĂ“ĂŽĂ‹Ă?ĂžĂ“Ă? Ă‹Ă?ĂžĂ“Ă Ă“ĂžĂŁ Ă‹Ă? ĂšĂ™Ă?Ă?Ă“ĂŒĂ–Ă?Ë› Ă&#x;ĂŒĂ”Ă?Ă?ĂžĂ? Ă?Ă™Ăœ ĂŽĂ?Ă–Ă“ĂŒĂ?ĂœĂ‹ĂžĂ“Ă™Ă˜ Ă‹ĂœĂ? ĂŽĂ?ĂœĂ“Ă Ă?ĂŽ Ă?ĂœĂ™Ă— Ă?Ă&#x;Ă?Ă’ Ă™Ă?Ă?Ă&#x;ĂœĂœĂ?Ă˜Ă?Ă?Ă? Ă‹Ă? Ă“Ă—Ă“ Ă‹Ă˜ĂŽ ĂžĂ’Ă? Ă•Ă˜Ă™ĂœĚ‹Ă?Ă&#x;ĂŒĂ? Ě™ĂŒĂ&#x;Ăž Ă‹Ă–Ă– Ă?Ă™Ă˜Ę¨ĂŽĂ?Ă˜ĂžĂ“Ă‹Ă–Ă“ĂžĂ“Ă?Ă? Ă™ĂŒĂ?Ă?ĂœĂ Ă?ĂŽĚšËœ Ă‹Ă? ĂĄĂ?Ă–Ă– Ă‹Ă? Ă?ĂœĂ™Ă— Ă˜Ă?ĂĄĂ? Ă™Ă˜ ĂžĂ’Ă? Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă‹Ă˜ĂŽ Ă“Ă˜ĂžĂ?ĂœĂ˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă—Ă?ĂŽĂ“Ă‹Ë› Ă’Ă? Ă–Ă?Ă?Ă?Ă™Ă˜ Ă“Ă? ĂžĂ‹Ă&#x;Ă‘Ă’Ăž ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ ĂŽĂœĂ‹Ă—Ă‹Ëœ ĂœĂ™Ă–Ă?Ě‹ĂšĂ–Ă‹ĂŁËœ ĂšĂ™Ă?ĂžĂœĂŁËœ Ă—Ă“Ă—Ă“Ă˜Ă‘Ëœ Ă?ĂžĂ™ĂœĂŁĂžĂ?Ă–Ă–Ă“Ă˜Ă‘ Ă?ĂžĂ?Ë› Ă™Ëœ ĂŒĂœĂ“Ă‘Ă’Ăž Ă‹Ă˜ĂŽ Ă?Ă‹ĂœĂ–ĂŁ Ă™Ă˜ Ă™Ă˜ĂŽĂ‹ĂŁ Ă—Ă™ĂœĂ˜Ă“Ă˜Ă‘Ëœ Ă“Ă˜Ă?Ă™ĂœĂ—Ă?ĂŽ ĂžĂ’Ă? Ă?Ă–Ă‹Ă?Ă? ĂžĂ’Ă‹Ăž Ă™Ă&#x;Ăœ Ă?Ă“ĂœĂ?Ă–Ă? ĂžĂ“Ă—Ă? Ă“Ă˜ ĂžĂ’Ă? ĂĄĂ?Ă?Ă• ĂĄĂ™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă‹ĂŒĂ™Ă&#x;Ăž ĘŽĂ‹Ă Ă™Ă&#x;ĂœĂ? Ă‹Ă˜ĂŽ ĘŽĂ‹Ă Ă™Ă&#x;ĂœĂ“Ă˜Ă‘Ë› Ă’Ă?Ă?Ă? ĂžĂĄĂ™ ĂĄĂ™ĂœĂŽĂ? ĂĄĂ?ĂœĂ? Ă‹Ă–Ă?Ă™ ĂžĂ™ Ă?Ă?Ă‹ĂžĂ&#x;ĂœĂ? Ă“Ă˜ Ă?Ă Ă?ĂœĂŁ Ă–Ă?Ă?Ă?Ă™Ă˜ ĂžĂ’Ă‹Ăž ĂĄĂ?Ă?Ă•Ë› Ă˜ ĂšĂœĂ?ĂšĂ‹ĂœĂ‹ĂžĂ“Ă™Ă˜Ëœ ĂžĂ’Ă? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ ĂĄĂ?ĂœĂ? ĂžĂ™Ëž Ě™ÍŻĚš Ă–Ă™Ă™Ă• Ă&#x;Ăš ĂžĂ’Ă? Ă—Ă?Ă‹Ă˜Ă“Ă˜Ă‘Ă? Ă™Ă? ĂŒĂ™ĂžĂ’ ĂĄĂ™ĂœĂŽĂ? Ă“Ă˜ ĂžĂ’Ă?Ă“Ăœ ĂŽĂ“Ă?ĂžĂ“Ă™Ă˜Ă‹ĂœĂŁ Ă‹Ă˜ĂŽ Ă?Ă&#x;ĂšĂšĂ–ĂŁ Ă™ĂžĂ’Ă?Ăœ Ă?ĂŁĂ˜Ă™Ă˜ĂŁĂ—Ă? Ă?ĂœĂ™Ă— ĂžĂ’Ă?Ă“Ăœ ĂžĂ’Ă?Ă?Ă‹Ă&#x;ĂœĂ&#x;Ă? Ă‹Ă˜ĂŽ Ě™Í°Ěš ĂŒĂœĂ“Ă˜Ă‘ Ă“Ă˜ Ă–Ă“ĘľĂ–Ă? Ă?Ă‹Ă—ĂšĂ–Ă?Ă? Ă™Ă? ĂžĂ’Ă?Ă“Ăœ Ă?Ă’Ă™Ă“Ă?Ă? ĘŽĂ‹Ă Ă™Ă&#x;ĂœĂ“Ă˜Ă‘Ë› Ă?Ă–Ă“ĂŒĂ?ĂœĂ‹ĂžĂ?Ă–ĂŁËœ ĂžĂ&#x;ĂœĂ˜Ă?ĂŽ ĂžĂ™ Ă“Ă—Ă“ Ă‹Ă˜ĂŽ Ă‹Ă?Ă•Ă?ĂŽ Ă’Ă“Ă— ĂžĂ™ ĂŒĂœĂ“Ă˜Ă‘ Ă“Ă˜ Ă™Ă˜Ă? Ă•Ă˜Ă™ĂœĚ‹Ă?Ă&#x;ĂŒĂ?Ë› Mrs Kehinde Omoru writes from the UK

Ogun State Gets Three Slots in Cowbellpedia Finals With seven representatives out of 12 contestants in the second group of the semi-finals, Ogun State has secured three slots in the finals of the ongoing 2018 Cowbellpedia Secondary School Mathematics Television Quiz Show, sponsored by Cowbell Milk, the leading brand of Promasidor Nigeria Limited. The outstanding performance of Gabriel Akogun of Welkin International School, as well as Juliet Ekoko and Enoch Adelekan, both of The Ambassadors College, all in Ota, placed Ogun State ahead of other states in the finals. In the junior category, Akogun, who qualified for the final along with Chiedozie Uzochukwu of Nigerian Tulip International College for Boys, Abuja, defeated Iyunade Ogundana of Greater Tomorrow Model College, Ado Ekiti. Other contestants whose Cowbellpedia journey ended at the semi-final were Ngozi Nworu of Bishop Otubelu Juniorate, Enugu; Toluwani Olatunji of The International School, University of Ibadan; and Beverly Ukoha from Top Faith International Secondary School, Uyo, Akwa Ibom State. Akogun, son of a teacher,

scored 97 per cent in the qualifying examination and expressed confidence about his ability to win the ultimate prize. For 14-year-old Chiedozie, who recorded a perfect score in the qualifying examination, held in February, the glory goes to his parents for firing his interest in Mathematics. â€œMy goal is to win the competition and I will be very happy if I win because it will be a good compensation for all my efforts,â€? he said. In the senior category, Ekoko and Adelekan sealed the fate of their four rivals: Amara Aronu, Emmanuel Igban and Oreofe Daniel, all from The Ambassadors College, Ota, as well as Ayomiposi Adiji from Preston International School, Akure, Ondo State. Ekoko, who was the 2016 junior category winner, said her experience on the Cowbellpedia TV quiz show was exciting and interesting. â€œI have been a champion and I will feel very great to be crowned champion again.â€? On his part, Adelekan expressed relief for reaching the final and prayed that he becomes the champion to make himself, his parents and his school proud.

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Niger Delta Varsity: Africaâ€™s Emerging Intellectual Destination Jonah Okah

he Niger Delta University is one of the third generation public universities established in 2000 by the Bayelsa State government. The university, which is one of the millennium institutions, has 12 faculties and colleges, among these are: Engineering, College of Health Sciences, Management, Social Sciences, Arts, Faculty of Pharmacy, with an enrolment of over 6,000 students. The programmes both at the graduate and undergraduates levels are largely accredited by the National Universities Commission (NUC), tailored to meet the manpower needs of the oil rich region of the Niger Delta and the rest of the world. The institution, which was set up four years after the creation of Bayelsa State in 1996 has become one of the fastest growing citadels of learning, with the least tuition fees affordable by both the rich and the poor, while cost of living in the school is quite cheap. The establishment of the institution was received with spontaneous jubilation across the state, designed to fill the yearning gap of educationally less developed status of the state, and its manpower needs with Professor John Buseri as its pioneer vice-chancellor. Located in a serene environment with the exfoliating breath of fresh air from the marine dominated deltaic region, but easily accessible by beautiful roads of tourists delight, just few minutesâ€™ drive from Yenagoa, capital of Bayelsa State, Nigeria. The location of the university is historically revered by the Ijaw ethnic nationality. A peep into the book on history of the Niger Delta by the foremost African historian, Professor Ebiegeri Alagoa is quite revealing. It is historically rooted as the cradle of Ijaw nation and its civilisation which was originally known as Agadagbabou until the European adventurers renamed it to Wilberforce Island. The institution is accessible by both river and land, surrounded by the ancient towns of Amassoma, Ogobiri and Agro-gbene. Bayelsa State which is surrounded by some neighbouring Africa countries such as Cameron, Guinea Bisau and Gabon and the oil rich Gulf of Guinea can easily access the university by land and air, especially the state-of-theart international cargo airport built by the Governor Seriake Dicksonâ€™s administration has added a lot of value to the institution. The cargo airport will go a long way to help foreign students access the great institution either by land or by air.

Edoumiekumo

It is the only university in Nigeria strategically located in such manner within the West African sub-region accessible by land, air and sea. Besides the serene nature of the university environment, is one big community close to nature with beautiful trees and flowers strategically planted in the nook and crannies of the school. It has a well coated road network in a manner that students are stress free in walking down from the hostels to classrooms for lectures. This has made students and lecturersâ€™ relationship look like a closely knitted academic family in the process of knowledge impartation. The culture of staff and students who see themselves as peace and intellectual ambassadors of the school are well entrenched. Currently, as part of its burning desire to rebrand the university, the management, led by the Vice-Chancellor, Professor Samuel Edoumiekumo had concluded arrangement to hold a critical workshop for principal officers and other category of staff. The workshop is essentially to deepen and equip staff with contemporary tools of university administration in a digital age. This will not only enhance its commitment towards human capacity building but will also update their knowledge in the drive to visibly place the university in the international map of academic excellence. Edoumiekumo and his management team are conscious of one important fact: that the desire to establish a university is one thing and translating its vision

EduFirstNg Rallies Support for Quality Education As part of its commitment to improve the standards of education in the country for global competitiveness, Edufirst and Skool Media have begun campaign to reinforce the need for quality education in Nigeria. It is determined to change the narrative of the Nigerian education sector by embarking on a campaign with the theme â€˜Raising the Standard of Education in Nigeriaâ€™. The campaign aligns with the United Nations Sustainable Development Goal 4, which mandates an inclusive and equitable quality education to promote lifelong learning for all. Edufirst Ng and Skool Media are jointly focused on bridging the gap and enhancing the standard of education through the adoption of digital learning in the Nigerian curricular. The campaign seeks to address the need to improve educational standards by leveraging the productive power of technology to

transform and make learning fun and productive. According to Mr. Moses Imayi, the co-founder and Project Director of Edufirstng campaign, while speaking at the 2018 media parley of Education campaign, â€œeducation is the biggest investment we can make as a people. As an organisation, we are committed to standing up for education because we strongly believe we are investing in the Nigeria socio-economic development. As a matter of priority, I urge you to stand as we begin a journey to revive education in Nigeria. â€œWe are products of the education system in Nigeria. For us, this journey is of great significance as an organisation. Education firstNigeria is a technology driven organisation that is focused on bridging the gap and enhancing the standard of education in Nigeria while advocating for an all-inclusive education system. â€œIt is an advocacy drive to adopt digital literacy in Nigerian

curriculum. As an organisation, as a campaign, we are driven by three core values: excellence, to provide information through the use of information technology and innovation because we have passion for the development of the Nigerian child. â€œAs an organisation we are driven by passion and commitment to the use of technology to transform our learning space.â€? Also, the Country Manager, Edufirst Ng, Mr. Idris Oladipo, said â€œeducation remains an important resource in national development. It is for this reason that the Edufirst Nigeria team is so committed towards reviving the lost hopes in Nigerian education space. It is projected that by 2050, Nigeria would have a population growth of 300 million people, and each mother is expected to give birth to at least five children and the only way out for us not to remain or to become the poverty capital is to invest massively in education and health.

to concrete reality is squarely a different ball game. This is where the timely appointment of Edoumiekumo as VC of the university comes in. Edoumiekumo, who is one of the youngest VCs in the country and has left no one in doubt that he, is on a mission to make the Niger Delta University a world class institution. In a chat with journalists in his office, the VC stated: â€œI am a born again Christian of the Deeper Life Bible Church, well-groomed in the business of selfless service. I am fully committed to value reorientation. Any leadership position you find yourself should be utilized to change the fortunes of the people better than where you met it. Under my leadership as vice-chancellor of the university, I will leave behind a lasting legacy in terms of visible infrastructure, value orientation, innovations and will practically place the university in the enviable international map of scholarship.â€? The cerebral VC, who is fondly called the digital VC by his colleagues, staff and students quickly identified cultism among students as one of the banes in Nigerian universities: being known for his pivotal role during his undergraduate days at the University of Port Harcourt in the fight against cultism, Edoumiekumo re-enacted it by putting in place the stick and carrot approach. Today, under his close supervision the hydra-headed menace of cultism has been stamped out for peace and creativity to thrive at the institution. This is followed by the conscientious efforts at securing the accreditation of several courses while other courses have reached advanced stages of being accredited by the NUC, a body statutorily charged with the duty of regulating the activities of university in Nigeria. A source close to the NUC said: â€œDuring our visit to assess the Niger Delta University for the purpose of accreditation of courses, we were marvelled at the massive improvement in infrastructure, quality of lecturers and the academic programme content.â€? The NUC source emphasised that, â€œif the government of Bayelsa State can summon the political will to invest more funds in a sustained manner into the university under the young and dynamic VC, the university will in earnest become a flourishing site of Africaâ€™s intellectual destination.â€? The VC believes that proper funding of a university cannot be limited to the state government alone. Therefore, the new management is determined and is working tirelessly towards attracting business men and agencies to intervene in critical areas of infrastructure concerns and research. These efforts are already yielding fruits.

Few weeks ago, the Chairman and Chief Executive Officer, Azikel Group of Companies, Dr. Azibapu Eruani visited the institution and indicated his intention to build two hostels for the Medical College and Engineering. Others have made pledges to build a befitting university guest house, while work had already commenced in earnest to build a central laboratory which is a direct fulfilment of promises made by the private donors. In the same vein, the needs assessment fund and that of TETFund intervention facilitated by the VC are impacting positively on the infrastructure needs of the institution. Through its prudent application of funds, it has indeed turned the university to a huge construction site. At present, the building of two massive hostels and befitting buildings for the Faculty of Arts, Agriculture and a lecture theatre, as well as Faculty of Social Sciences have been completed. Security of the university is one area that has remained paramount in the agenda of the management of the institution. Many have wondered the secret behind the peace and tranquillity that reign in the school. Investigation into the secret indicated that the university under the supervision of Edoumiekumo had stepped up its security architecture. This is further complemented by the procurement of state-of-the-art security gadgets which are strategically placed for the purpose of monitoring movement of people within the university and its environs, while security lightening system is used to brighten up the length and breadth of the institution. Today, staff and students of the university live together as one community without any cause to worry about men of the underworld. Happily, the Seriake administration along with his Commissioner for Education, Obuebite Jonathan have left no one in doubt that education remains the chief corner stone of the policy thrust of the administration. To that effect, it has carried out critical reforms aimed at revamping the educational needs of the people, especially the state owned Niger Delta University. While commending the government on its practical commitment towards changing the educational fortunes of the state, especially the state owned university, it should not rest on its oars as building a world class university is not a tea party. It should rather be prepared to invest more funds until it realises the VCâ€™s vision of turning around the university to truly Africaâ€™s intellectual destination. -Okah, a legal practitioner/public communication strategist writes from Yenagoa

Pencils for Africa Donates Learning Materials to Pupils Yekini Jimoh in Lokoja A non-governmental organisation, Pencils for Africa (P4A) recently donated 7,000 pencils, about 500 books and five laptops to hundreds of school children. The organisation donated books to ABU Staff School in Zaria; it donated pencils and laptops to GRA Model Primary School in Hanwa-Zaria; while pencils and laptop were also donated to Model Primary School in Maitama-Abuja. Pencils for Africa (P4A) is the brain-child of 16-year-old Habiba Odogba, a junior at Kettle Moraine High School in Wales, Wisconsin, USA. Odogbaâ€™s ingenuity, fostered through her compassion of othersâ€™ well-being, has helped achieve major milestones within the movement, and demonstrates the Kettle Moraine

School District (KMSDâ€™s) vision of Learning without Boundaries. The NGO said it knows that under-supplied students do not get to receive the fullest experience of their learning, especially when they lack something as basic as a pencil. It also believes that the students within the KMSD can be a fighting force to combat this lapse by being the change agents. The initiative was supported by the KMSD and the staff and students of Cushing Elementary School, Dousman Elementary School, Wales Elementary School, Kettle Moraine Middle School, and Kettle Moraine High School. A pencil campaign drive was organised by P4A in the Spring of 2018 to collect new, used and extra supplies of pencils to be donated to schools in Africa. Also, the elementary school at the Internally Displaced Persons

(IDP) camp in Durumi-Abuja is scheduled to also receive donations. Speaking with journalists about what motivated her to embark on such project, Odogba said in developed countries, access to school supplies as simple as a pencil was a certainty often taken for granted where the majority of students find themselves disposing off unwanted and extra supplies. â€œYet for the millions of undersupplied students residing in developing countries, this luxury is far harder to obtain. Seeking to make an impactful difference is Pencils for Africa (P4A).â€? According to her, the vision of the KMSD is Learning without Boundaries and that the best way to live and demonstrate this is by providing meaningful support across continents.

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CITYSTRINGS

ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? Ă¤Ă?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?Ă¤Ă?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ Í‘Í˜Í‘Í’Í‘Í–Í’Í‘Í•Í”Í‘

A Beacon of Hope Sunday Ehigiator writes that the founder of Rose of Shalom Foundation, Mrs. Folorunsho Alakija, has been a beacon of hope to the less privileged in the society as was evidenced by her recent philanthropic act in turning some physically-challenged beggars to entrepreneurs

Exhibition and sales of their ďŹ nished products

Mrs Alakija presenting the work tools to the graduands and families

some of Abubakar's neighbours, had to travel down from Katsina with the aim of taking him back to the village, for the fear of his son not to be used for money ritual, as was the picture painted by his neighbours. So for some long weeks, Abubakar could not be reached by Alakija and her team. They took further steps to go to his abode and that was when the picture became clearer. She however did not allow that stop her. According to her â€œby Godâ€™s grace, there is no project I start, that I donâ€™t see to its end, no matter the obstacle; and I said to myself, his case would not be differentâ€?.

or Sodiq Abubakar, that certain Tuesday was like any other day in his life. How wrong could he be? That day was certainly one that turned his fortunes around from a beggar to an entrepreneur. Daily, alongside his other disabled friends, they would usually hang around Tinubu area on the Island in Lagos State, to beg for alms. Like every normal day, his abled elder brother, Adamu Issa, a shoemaker, had carried Abubakar; who crawls on his chest, on his back to his regular begging spot somewhere around Victoria Island that fateful morning, before going about his shoemaking business. And there Abubakar was on his chest, begging for alms from the ever busy Lagosians, who were rushing to work when he was sighted by Mrs. Folorunsho Alakija, Nigeria'a oil tycoon and founder of Rose of Shalom Foundation. Moved with compassion and Abubakar's inability to neither walk, nor see the faces of those he was even begging alms from, as he was crawling with his elbows and on his chest, Alakija in her usual habit, dipped her hands into her purse and from her car, gave him any amount she could lay her hands on immediately, before driving off.

Initial Assistance Still not satisfied with the much she did, she made a decision when she got to her office, to ensure that Abubakar gets a better life. Hence, she sent some of her staff down to look for him and ask him what he wanted, so as to know how she can be of help. They found Abubakar and his response was that he needed a wheelchair, for easy mobility to facilitate his alms profession. Although she was surprised at his request, she still bought the best grade of wheelchairs with light attached. Still not satisfied, since she had promised herself to ensure that Abubakar must leave the street, since she couldnâ€™t be sure that just by buying him a wheelchair, he would, she personally followed her staff down to the spot where they found Abubakar to deliver the wheel chair to him. Sodiq, not even abreast of who Alakija was, must have been left wondering why there was so much crowd gathering around him. It was with love that Alakija presented the wheelchair to Abubakar, whose joy was unfathomable. As Sodiq mounted on the wheelchair, Alakija, asked that he should be cleaned up, and the black rubber, cut out off a tyre's tube, which Sodiq had used to bound foam to protect his hands through his elbowâ€™s

from sharp objects, be removed.

The Deal As soon as they were removed, Alakija realised his hands were alright and figured out that if he learns a skill, he can work and then eventually stay off the street. But not to be all assuming, she asked him some basic questions through the help of a voluntary interpreter among the crowd, since Abubakar only understands Hausa Language. She asked him whether he would return to the streets if he gets trained in shoe making skills and become selfemployed, to which Abubakar replied in the negative. So a deal was struck. Alakija took further steps to buy him decent clothings and sent her staff to his residence, who described the place as a place fit only as a 'dog's cage'.

Training Abubakar lived up to his promise of not going back to the street even while still waiting on Alakija to begin his training. When the slight delay, which was connected to the logistics involved in the search for a quality tutor through the help of Rose of Sharon Foundation, was over, he was placed under one of the best shoe designers in Lagos. A commercial tricyclist was also contracted to ferry him to and fro daily from Tinubu to Isolo, where the training workshop was located. Also, a sophisticated android phone with internet enablement was bought for him, all by Alakija; this was to enable her monitor him all through his training duration, on a daily basis, though, Whatsapp video calls and direct voice calls.

Snag However, there was a snag. Abubakar's father, who was wrongly informed by

My heart is whole. I am so happy. If they had told me that day I ďŹ rst met Mrs. Alakija that my life would turn out to be like this, I wouldnâ€™t have believed it

Breakthrough It took the help of another physically challenged, Ibrahim, who like Abubakar begged to feed, to locate him and his brother in an area in Agege, Lagos, where their father had relocated them to. Steps were taken to speak to his father and other family member present. Alakija said: "If not for the presence of security personnel and some of our staff who could speak and understand Hausa language, we may not have being able to avert the crises that could have happened on that day, but we give God the glory that we had a breakthroughâ€?. After the breakthrough, Abubakar got back to training, but this time with Ibrahim; his friend and Adamu; his brother, who both appealed to Alakija to also include them in the project, which she obliged and hence they became three.

Graduation This was the story as shared by Alakija at the graduation ceremony of the three beneficiaries of her charitable act, Sodiq Abubakar, Adamu Issa, and Ibrahim Mohammad. The occasion which was held at Isolo Community hall, was graced by several community members, members of the Association of Leather Workers, Lagos Chapter, and various community leaders, including the Osolo of Isolo HRM Oba Kabiru Alani Agbabiaka, who was represented by Alhaji Monsuru. In his welcome address, the Osolo of Isolo said, â€œIt was of so much delight to me when I heard about this event. This is an act that could turn Nigeria into a better place if the entire well-to-do individuals we have in this country emulate Folorunso Alakija. This is an act that is very commendable and welcoming by this community. We are so glad and on behalf of the whole Isolo community and the graduands, I say a very big thank you to her for this

charitable heart of hers. It is my prayers that, you reap all you have invested to better the lives another manâ€™s children whom you never knew from Adams, in surplus foldsâ€?. The father of two of the graduands, Mr. Abubakar, who was also present at the event alongside other members of his family, could not contain his joy when he was specially recognised by Alakija, who asked him to join her on the high table. Speaking at the occasion, Alakija said, â€œI bless God for the privilege He has given unto me to contribute in this little way I can to these lives. The idea is that, the three of them are now in a mutual partnership. As you have seen, they are not just graduating and not practicing, these are all the equipment they will be needing in their business, and we have rented a completely furnished apartment for the three of them to live together in Agege, with an advanced payment of two years. "We are already looking for a profitable workshop to rent for them so they can start working in earnest. Another peculiar thing about them is that, Adamu, being the only abled body and only one who can communicate in English, would be the one operating the machines, and negotiating for price on behalf of the others, while Sodiq and Ibrahim, would focus on shoemaking less involving of machines." Before taking her seat, Alakija; just as she did to Abubakar, presented a brand new wheelchair to Ibrahim, and introduced to the audience present some works of the trio done within the course of their training, displayed for sales at the occasion, as all of the finished works were sold out at a minimum price of N2,500 only. The highpoint of the occasion was the official presentation of certificate of practice/membership to the graduands by members of the Association of Leather Works, and the traditional induction of the graduands into the shoe making profession. Speaking to journalists after the event, Abubakar who was helped with interpretation by one of Alakijaâ€™s staff, one Mrs. Akin Adesola said: "My heart is whole. I am so happy. If they had told me that day I first met Mrs. Alakija that my life would turn out to be like this, I wouldnâ€™t have believed. Truly, I was scared at some point, but I thank Almighty Allah for crossing my paths with that of Madam. May she never know lack, and may the Almighty Allah continue to lift her up as she has done to me and my brothers."

T H I S D AY Ëž ÍąÍŻËœ Í°ÍŽÍŻÍś

CRIME&SECURITY

Police Arrest Fmr. Speaker, Others over Death of DSP The Lagos State Police C o m m a n d h a s a r re s t e d a former Lagos State House of Assembly Speaker, Joko Pelumi and 42 others over the death of a Deputy Superintendent of Police (DSP), Akingboju Akindele and the subsequent abduction attempt of an Assistant Superintendent of Police (ASP). The police command alleged that the 42 suspects arrested alongside the former speaker were believed to be his political thugs. Prior to his death, Akindele was attached to the Anti-Cultism unit of the Lagos State Command and he was leading a team to I j e d e a re a o f I k o ro d u t o e ff e c t t h e a r re s t o f f o u r wanted cultists, who had been on the police wanted list, when he was killed in cold blood. A f t e r t h e a r re s t , t h e D S P a n d h i s t e a m w e re l e a d i n g the cultists to their station, when some other members of the cult group ambushed them and engaged the police in a shootout. The cultists shot Akindele

dead, collected his rifle a n d a b d u c t e d a n A S P, b u t on their way to the bush where they planned to bury the ASP alive, he managed to escape. Lagos State Commissioner of Police , Imohimi Edgal, w h o b r i e f e d t h e p re s s o n t h e a r re s t , s a i d o n O c t o b e r 27, a team of anti-cultism policemen attached to Area M , I j e d e , w e re a t t a c k e d while trying to effect arrest of some suspected cultists. Edgal said investigation i n t o t h e c a s e l e d t o t h e a rrest of 49 suspects including Pelumi. He said the suspects were being investigated by the State Criminal Investigation and Intelligence Department ( S C I I D ) , P a n t i , Ya b a . He said the suspects were a r re s t e d i n s i d e P e l u m i ' s h o u s e a t I j e d e a re a o f I k o ro d u , w h e re t h e y h i d after killing the police off i c e r. A c c o rd i n g t o h i m , w h e n the news of dastardly killing of the policeman got to him, he quickly mobilised and his men traced the hoodlums to the former speaker's house

and they were surprised to meet 42 cultists jubilating. He said: "The question is what would cultists who c o m m i t t e d t h e m u rd e r of a DSP be doing in the speaker's house. Why would he habour cultists and thugs in his house? "Why would he shield such persons that killed a s e n i o r p o l i c e o ff i c e r i n h i s house? This is serious and w e w i l l n o t t a k e i t l i k e l y. We may charge the speaker for accessory to the fact of m u rd e r, w h i l e o t h e r s u s p e c t s w i l l b e c h a rg e d f o r m u rd e r. " The CP warned that the era of killing policemen was gone, adding that no one would kill a policeman and go scot-free as the police would hunt him to a n y w h e re . Preliminary investigation showed that the gang was a formidable one that has held Ikorodu and its environs to t h e j u g u l a r. They had been operating with absolute confidence as they have big time politic i a n s w h o w e re a l l e g e d l y backing them.

CRIME SITUATION REPORTS

SECURITY TIPS (PART 21) r %P OPU BMMPX ZPVS DIJMESFO XIP DBOOPU SFDPHOJTF WPJDFT UP PQFO doors for strangers/visitors. r &WFO BT BEVMUT NBLF TVSF ZPV SFDPHOJTF UIF WPJDF PG UIF WJTJUPST strangers before you open your doors, especially at night. r -PDL VQ BMM ZPVS EPPST XIFO ZPV BSF JOEPPST FTQFDJBMMZ BU FWFOJOH time. r 4XJUDI PGG BMM ZPVS FMFDUSJD HBEHFUT CFGPSF HPJOH PVU FWFO XIFO there is no power supply from PHCN. r 4UBZ BXBZ GSPN BOZ TUSBOHF NBO XIP MPPLT MJLF B QSFHOBOU XPNBO he may be carrying harmful products. r -PDL VQ ZPVS DBST FWFO XIFO ZPV QBDLFE UIFN JO ZPVS DPNQPVOE r 1SPUFDU ZPVS DBST BOE NPUPSDZDMFT LFZT GSPN CFJOH EVQMJDBUFE CZ suspected criminals. SOURCE: Department of State Security (DSS).

CONTACTS OF LAGOS CP, OFFICERS 1. CP Imohimi Edgal, Commissioner of Police Lagos State 08033040870 2. DCP Ayuba Elkanah Nabuni Deputy Commissiner of Police Administration 08033422152, 3. DCP Muhammed Ali Ari, Deputy Commissioner of Police Operations 08073666669 4.ACP Mohammed Danladi, Area Commander A, Lagos Island 08034668470 5. ACP Sani Sabo, Area Commander B Apapa 08038452224 6. ACP Godwin Eze, Area Commander C Surulere 08023407772. 7. ACP Akinbayo Olasoji, Area Commander D Mushin 08037140083 8. ACP Yusuf Ajape, Area Commander E Festac 08037073372 9. ACP Ibrahim Zungura, Area Commander F, Ikeja 08052058001 10. ACP Arumse J.D, Area Commander G Ogba 08033464144 11. ACP Miller Dantawaye, Area Commander H, Ogudu 08036695572 12. ACP Felix Oben, Area Commander J Elemoro 08033320682 13. ACP Hope Okafor, Area Commander K Morogbo 08026279242 14. ACP Ishola Olarenwaju, Area Commander L Ilashe, 0810321160 15 ACP Agbaminoja Toyin, Area Commander M Idimu 08081776484 16. ACP Mohammed Ahmadu, Area Commander N Ijede 08055554664 17. ACP Abdulsalam Gazali Alade, Area Commander P Alagbado 08033539984 18. CSP Chike Oti, Police Public Relations Officer (PPRO), 07065246927 SOURCE: LAGOS STATE POLICE COMMAND

REQUIREMENTS FOR OPERATION VELVET The Lagos State Government Special Task Force and the police have Monday kickstarted Operation Velvet to ensure vehicles are meeting Lagos road worthiness standards. Vehicles that fall below these standards may be impounded.

Lagos State Commissioner of Police, Imohimi Edgal, with other senior oďŹƒcers during the parade of suspects

Commercial Bus Driver Nabbed for DeďŹ ling Minor A commercial bus driver, Sola Ewulo, has been arrested for allegedly his neighbour's two-year-old daughter (name withheld). According to the police, the suspect took advantage of the absence of the victim's mother to commit the said offence. The Lagos State Commissioner of Police, Imohimi Edgal, who paraded the suspect at the command headquarters in Ikeja said the suspect was arrested at his residence along Taiwo Street, Agbado Ijaiye. Edgal said the mother of the

victim on the said date left her with the suspect and dashed to the neighborhood to buy some provisions. He said: "When the mother returned, a couple of minutes later, she couldn't find her daughter and the man she left her with. "She however later found the victim on the corridor of the house scratching her private parts and she complained about the pains she was experiencing. "On closer examination, the mother revealed that she saw

some whitish substances dripping from the victim's private part and raised an alarm. "The suspect has been questioned in respect of the incident at the gender unit and he will be charged to court as soon as doctors turn in their report." The CP however charged parents and guardian to know who they commit the care of their children to, especially the under-aged children. According to him, cases of defilement in the society was becoming rampant and worrisome.

Papers Required 1. Insurance papers 2. Vehicle License 3. Road Worthlness 4. Proof of Ownership 5. Valid Driver's License 6. Tint Permit for cars with tinted glasses 7. Number Plate Registration papers 8. Central Motor Registry Paper (CMR) Required Tools 1. Valid Spare Tyre 2. Caution Sign 3. Jack and Wheel Spanner 4. Razor Blade (to cut seatbelt In case of emergency) 5. Flashlight 6. Valid Tires 7. Valid Fire Extinguisher Source: Lagos State Police Command/ Operation Velvet

W E D N E S DAY Ëž OCTOBER 31, 2018

BUSINESS/MONEYGUIDE

CBN Injects Fresh $210m into Forex Market Ugo Aliogo The Central Bank of Nigeria (CBN) yesterday sustained its intervention in the foreign exchange (forex) market as authorised dealers in the wholesale segment received the sum of $100 million to meet the requests of their customers. The CBN also allocated the sum of $55million each to

the small and medium scale enterprises (SMEs) segment and the invisibles segments, comprising requests for tuition fees, medical payments and Basic Travel Allowance (BTA), among others. The Bankâ€™s Director in charge of Corporate Communications, Isaac Okorafor disclosed this on Tuesday and stressed that the CBN would continue to

intervene in the countryâ€™s interbank foreign exchange market. According to him, the Bankâ€™s management remained committed to ensuring stability in the market through liquidity. The Bank had made interventions totaling over $547million within the last one month in the Wholesale and Retail Secondary Market Sales (SMIS).

FRC Inaugurates Audit Regulation Working Group The Financial Reporting Council of Nigeria (FRC) yesterday inaugurated its Audit Regulation Working Group. The group is saddled with the responsibility of improving audit quality in the country which is expected to enhance economic growth. Membership of the Group and subject matter experts were drawn from the Office of the Auditor General for the Federation, the Federal Ministry of Justice, Forum of Small and Medium-sized Audit Practitioners, Nigerian Accounting Association, the Securities and Exchange Commission, Federal Ministry of Trade and Investment, Association of National Accountants of Nigeria, the Institute of Chartered Accountants of Nigeria as well as some international and national accounting firms. Speaking during a meeting of members of the Group in Lagos, the Executive Secretrary/

Chief Executive Officer of the FRC, Mr. Daniel Asapokhai, said audit corporate reporting supports the orderly functioning of the capital market and helps companies in raising capital from other sources and improves confidence in the integrity of financial statements. Commenting further, Asapokhai noted that effective public oversight of audits would improve audit quality and support economic growth. According to him, the FRCâ€™s goal is to improve the quality of statutory audits in Nigeria by taking steps â€œto improve the independence of audit firms and auditors from the entity being edited; enhance the informational value of the audit reporting to investors; promote a more dynamic and competitive market for audit services and foster convergence of standards with Nigeriaâ€™s largest trading partners.â€?

On his part, the Chairman of the FRC, Mr. Adedotun Sulaiman, noted that the Working Group would provide technical assistance to the FRC in releasing a comprehensive set of rules over the next several months, to better regulate in the interest of members of the public, the independent audit of corporate financial reporting and more effectively transition the oversight of audits in Nigeria from the Professional Accounting Organisations to the FRC. â€œThe Working Group will assist the FRC to assess the state of audit regulation in Nigeria, develop new requirements for audit firms and auditor registration, regulation of broader assurance services, the practice reviews and inspection of audit firms provided for in Sections 60 and 61 of the FRC Act as well as requirement for the conduct of different assurance engagements,â€? he added.

Uzoka Awarded Honorary CIBN Fellow Peter Uzoho The Group Managing Director/CEO United Bank for Africa (UBA), Kennedy uzoka has been conferred with a Honorary Fellow of the Chartered Institute of Bankers of Nigeria (CIBN). He got the award during the instituteâ€™s 2018 investiture held in Lagos recently. Uzoka received the award alongside other 109 bankers and financial sector executives. In his citation, the CIBN said that as the Group Managing Director/CEO of United Bank for Africa, Uzoka represents the lender on the boards of Financial Markets Dealers Quotation (FMDQ) OTC Plc, Lagos State Security Trust Fund, Central Bank of Nigeria Bankersâ€™ Committee and Nigeria

Economic Summit Group. The CIBN board said Uzoka has contributed to the growth of the institute, banking and finance industry. He also serves as a member of Body of Banks CEOs, member of Institute of Directors (IoD) Nigeria and a Professional Member of Financial Reporting Council of Nigeria. Other bank chiefs that received the Honorary Fellow award were Ecobank Nigeria Managing Director, Patrick Akinwuntan, Unity Bank Managing Director, Mrs. Tomi Somefun, Group managing Director, GTBank, Segun Agbaje and FirstBank CEO Adesola Adeduntan among others. Speaking during the investiture, CIBN President/ Chairman of Council, Uche

Olowu, congratulated Uzoka and other awardees at this yearâ€™s event. â€œI heartily congratulate all new awardees to be invested as we share in your moment of joy. As worthy role models and Brand Ambassadors of CIBN, our charge to you all is to uphold ethical conduct and professional values helping to raise the brand equity of our highly revered Institute and the banking profession as a wholeâ€?, Olowu said Olowu said the Institute is saddled with the responsibility of building, up-skilling the competence of its members as well as upholding ethical and professional standards of professionals and would be-professionals in the banking industry.

LBS Holds Sports Business Management Programme The Lagos Business School (LBS) has signed a Memorandum of Understanding with the Spanish La Liga to promote capacity development in the sports business sector. The Sports Business Management Programme is a 2-day seminar aimed at professionalising the way sports business is run in Nigeria. It caters to those who are passionate about sports business and need to gain knowledge required to successfully manage it. Speaking at the event, MBA Director, Lagos Business School, Dr Uchenna Uzo, said the course would offer participants the international exposure and

expertise on how the business of sports management is handled. â€œWe are delighted to seal this partnership with La Liga which is a premiere sports brand across the world. Through the Sports Business Management Programme, we hope to change the way sports business is done in Nigeria,â€? he said. In her remark, Dr Enase Okonedo, Dean, Lagos Business School said: â€œThis is the first of such programmes in West Africa so we are happy to take the lead in the sports business management sector. Before now, you have to go abroad to seek competence in sports business management but with this col-

laboration with La Liga, we have created a robust programme that will enrich the sports value chain on the continent.â€? Representatives of La Liga led by JosĂŠ Moya GĂłmez, Director of La Liga Business School expressed delight at the partnership, saying he believes it is the beginning of more things to come. â€œWe believe this will be the start of a great partnership. We started in Nigeria in 2015 and after we discussed with Lagos Business School, we saw a gap in the system that needed to be filled so we decided to bring our experience in the sports sector to impart knowledge,â€? GĂłmez said.

L-R: Chief Babalola Ayuba Elegushi; Chief Akeem Elegushi; Chief Segun Abdulahi Elegushi; Regional Manager, Fidelity Bank Plc, Mr. Ken Opara; Chief Moroof Adisa S. Elegushi; CEO, Periwinkle Residences Limited and Developers of Oxygen Apartments, Mr. Chiedu Nweke; Oba Saheed Elegushi Kusenla III; AGM, Keystone Bank, Nnenna Kayode-Lawal; Chief Kehinde Hassan Elegushi and Lagos Area Manager, NIWA, Alhaji. Muaâ€™zo Sambo, at the ground breaking ceremony of Oxygen Apartment in Lekki... recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

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

5,433,209.43

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

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ Ă™Ă–Ă“Ă?ĂŁ Ă‹ĂžĂ? Ě‹ ÍŻÍąĎą

OPEC DAILY BASKET PRICE AS AT MONDAY OCTOBER 29, 2018

The price of OPEC basket of ďŹ fteen crudes stood at $76.07 a barrel on Monday, compared with $75.71 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), 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

W E D N E S DAY ˾ OCTOBER 31, 2018

MARKET NEWS

Union Bank Records N122bn Gross Earnings, N15bn Profit After Tax Goddy Egene Union Bank of Nigeria yesterday announced its unaudited financial statements for the nine month period ended September 30 2018, showing improvement in top and bottom-lines. Gross earnings stood at N122.2 billion, up by 12 per cent from N109.5 billion, while net interest income rose from N46.9 billion to N49.4 billion in 2018. Credit impairment charges rose from

N5.9 billion to N7.3 billion in 2018. Profit before tax improved by 14 per cent to N14.9 billion, from N13 billion, just as profit after tax increased by 18 per cent to N14.7 billion, compared with N12.4 billion in 2017. Gross loans rose five per cent to N588.9 billion, from N560.7 billion, while customer deposits increased by 10 per cent to N882.2 billion, up from N802.4 billion. Commenting on the results, the Chief Executive Officer, Mr.

P R I C E S MAIN BOARD

F O R DEALS

Emeka Emuwa said: “In the third quarter of the year, our numbers continue to track strongly across all performance metrics. The nonperforming loan (NPL) ratio is down to 9.8 per cent from 10.8 per cent as at H1 2018 as asset quality continues to strengthen as we realize more recoveries while continuing to selectively grow our loan book with high quality risk assets. Leveraging positive investor confidence in the bank, we

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

concluded a successful inaugural issuance of Series I and II bonds under our newly-registered N100 billion bond program. We will remain focused on driving and enhancing productivity across the Bank to ensure we deliver on our expectations for the year.” Also speaking, Chief Financial Officer, Joe Mbulu said: “Notwithstanding our deposit book growth, our focus on optimizing our funding costs ensured that they remained flat year-on-year.

T R A D E D MAIN BOARD

A S

This drove profitability from gross revenues to the bottom line, with higher net revenue from funds (after impairment) in the period. Non-Interest Income is up by 46 per cent compared to prior year as recoveries grew by 94 per cent to N3.9 billion during the period, up from N2.0 billion in Q3 2017 and fee and commission income grew 22 per cent in the same period driven by higher transaction volumes. In addition, the Bank also benefitted from

O F

opportunistic treasury trading income realised in the period.” He said the bank’s foreign currency deposits are up 37 per cent compared with December 2017, as it continued to optimise its balance sheet. “Notwithstanding a challenging macro-economic backdrop, we are judiciously growing the Group loan book, which is up by five from N560.7 billion as at December 2017 to N588.9 billion as at the end of Q3 2018.”

2 9 / 1 0 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, OCTOBER 31, 2018

Wednesday, October 31, 2018 Thisday Afrinvest Index Closes in the Red, down 1.2%

THISDAY AFRINVEST 40 INDEX

zĞƐƚĞƌĚĂǇ͕ ƚŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ŝŶĚĞǆ ƐŚĞĚ ϭ͘Ϯй ƚŽ ƐĞƩůĞ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ăƚ ϭ͕ϯϳϮ͘ϲϱ ĚƵĞ ƚŽ ƐĞůů-ŽīƐ ŝŶ ZENITH(-3.1%), FBNH (8.3%) and SEPLAT (-ϰ͘ϲйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ 16.0% of the index.

THISDAY AFRINVEST 40

Local Bourse Pares Yesterday͛s Gains͙ASI down 0.1%

/Ŷ ůŝŶĞ ǁŝƚŚ ŽƵƌ ĞǆƉĞĐƚĂƟŽŶ͕ ƚŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ƌĞǀĞƌƐĞĚ ŐĂŝŶƐ ĨƌŽŵ ƚŚĞ ƉƌĞǀŝŽƵƐ ƐĞƐƐŝŽŶ ĂƐ ĞůĞǀĂƚĞĚ ƐĞůů

Current Price

Ticker

Previous Current Price Weighting Change

Price Price Change Change YTD Index to Date

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

1,372.65

-1.18%

-11.0%

37.3%

5.9x

0.7x

6.6%

Guaranty Trust Bank PLC

38.00

-1.3%

22.5%

-6.7%

-6.3%

34.1%

5.6%

5.7x

2.1x

7.1%

17.7%

Zenith Bank PLC

23.70

-3.1%

13.5%

-7.6%

-8.6%

23.7%

3.4%

4.1x

1.0x

11.3%

24.6%

88.00

0.6%

6.6%

-34.8%

13.8%

6.4%

29.5x

4.2x

4.2%

3.4%

1,380.00

0.0%

8.0%

-11.3%

92.0%

23.0%

24.9x

24.6x

3.4%

4.0%

Nigerian Brew eries PLC

Nestle Nigeria PLC

12.8%

Dangote Cement PLC

216.00

1.6%

6.6%

-6.1%

4.8x

4.9%

FBN Holdings Plc

8.25

-8.3%

5.8%

-6.3%

-6.1%

6.6%

0.8%

5.9x

0.4x

2.8%

16.9%

Access Bank PLC

7.95

0.0%

3.9%

-23.9%

-25.0%

14.1%

1.7%

3.3x

0.5x

8.2%

30.2%

10.5%

27.6%

2.9%

37.2% 12.9%

United Bank for Africa PLC

8.00

-1.2%

3.8%

-22.3%

-23.2%

15.4%

1.8%

3.6x

0.6x

Ecobank Transnational Inc

16.05

-4.2%

3.5%

-5.6%

-1.4%

12.1%

1.0%

5.0x

0.6x

ŽŶƐĞƋƵĞŶƚůǇ͕ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞǆ ; ^/Ϳ ƐŚĞĚ Ϭ͘ϭй ƚŽ

SEPLAT Petroleum Development C

615.50

-4.6%

3.4%

-1.7%

25.9%

15.3%

2.7x

0.6x

Stanbic IBTC Holdings PLC

52.50

ƐĞƩůĞ Ăƚ ϯϯ͕ϭϲϳ͘ϴϴ ƉŽŝŶƚƐ ǁŚŝůĞ zd ůŽƐƐ ŵŽĚĞƌĂƚĞĚ ƚŽ -

7.1%

4.1%

26.5%

28.4%

35.7%

4.6%

7.8x

2.5x

1.9%

Unilever Nigeria PLC

42.60

-0.9%

3.0%

3.9%

5.9%

24.7%

11.5%

19.8x

3.0x

1.2%

5.0%

Guinness Nigeria PLC

77.00

0.0%

2.1%

-18.1%

8.8%

5.0%

20.7x

1.9x

2.4%

4.8%

ƉƌĞƐƐƵƌĞƐ ŝŵƉĂĐƚĞĚ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ǇĞƐƚĞƌĚĂǇ͘

13.3%. Major drags yesterday were FBNH (-8.3%), ZENITH (-3.1%) and SEPLAT (-4.6%) ǁŚŝůĞ ŐĂŝŶƐ ŝŶ DANGCEM ;нϭ͘ϳйͿ ĐƵƐŚŝŽŶĞĚ ƚŚĞ ůŽƐƐĞƐ ƌĞĐŽƌĚĞĚ͘ DĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĂůƐŽ ƐŚĞĚ EϭϬ͘ϯďŶ͕ ƐĞƩůŝŶŐ Ăƚ EϭϮ͘ϭƚŶ͘ ĐƟǀŝƚǇ ůĞǀĞů ƐƚƌĞŶŐƚŚĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƐƉŝŬĞĚ ďǇ ϭϬϱ͘ϰй ĂŶĚ ϭϬϴ͘ϰй ƚŽ ϯϬϵ͘ϭŵ ƵŶŝƚƐ ĂŶĚ Eϲ͘ϬďŶ ƌĞƐƉĞĐƟǀĞůǇ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁĞƌĞ

Lafarge Africa PLC

17.50

-4.1%

0.7%

-61.0%

-53.7%

-7.9%

1.1x

8.6%

-37.1%

Fidelity Bank PLC

2.05

1.0%

1.2%

-16.7%

-20.5%

11.3%

1.5%

2.7x

0.3x

5.4%

37.4%

Oando PLC

5.05

-2.9%

1.2%

-15.7%

10.3%

1.5%

4.2x

0.3x

Dangote Sugar Refinery PLC

14.30

-2.1%

0.9%

-28.5%

-29.8%

41.5%

18.1%

5.7x

1.7x

12.2%

17.5%

3.8%

13.1%

5.2%

21.3% 15.4%

Okomu Oil Palm PLC

79.80

0.0%

1.4%

17.9%

39.3%

29.7%

7.6x

2.6x

International Brew eries PLC

30.50

-1.6%

0.5%

-44.0%

-44.5%

24.6%

7.4%

31.9x

7.3x

Flour Mills of Nigeria PLC

19.05

0.0%

0.5%

-34.3%

9.8%

2.9%

4.7x

0.5x

Transnational Corp of Nigeria

1.36

3.8%

0.6%

-6.8%

-8.1%

13.6%

3.0%

6.5x

0.8x

1.5%

9.85

3.1%

0.4%

-41.7%

1.4%

0.6%

17.6x

0.4x

6.6%

Diamond Bank PLC

1.39

6.9%

0.5%

-7.3%

-11.5%

-7.2%

-0.9%

-13.9%

34.6%

7.5%

6.9x

2.2x

8.6%

14.5%

-3.2%

6.7%

1.0%

2.5x

0.2x

6.5%

39.7%

5.9x

2.0x

4.5%

Total Nigeria PLC

GUARANTY (57.6m), STERLING (57.0m), and FCMB

FCMB Group Plc

11 PLC

;ϰϭ͘ϭŵͿ ǁŚŝůĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀĂůƵĞ ǁĞƌĞ

Forte Oil PLC

PZ Cussons Nigeria PLC

11.50

GUARANTY ;EϮ͘ϮďŶͿ͕ DANGCEM ;Eϭ͘ϲďŶͿ ĂŶĚ NIGERIAN

0.0%

0.2%

-44.2%

-45.6%

Cadbury Nigeria PLC

10.00

5.3%

0.3%

-36.2%

Presco PLC

58.00

9.4%

0.4%

-15.3%

NASCON Allied Industries PLC

18.50

0.0%

0.4%

UPDC Real Estate Investment Tr

8.10

0.0%

0.3%

198.00

0.0%

0.5%

1.53

-1.3%

0.6%

5.7% -50.5%

0.9%

0.5%

-9.3%

38.0%

16.8%

21.60

0.0%

0.3%

-50.3%

-48.6%

29.7%

3.0%

1.1x

1.3%

-35.9%

5.9%

2.2%

34.9x

1.7x

1.7%

2.9%

-15.3%

37.0%

24.8%

2.3x

0.7x

3.4%

43.7%

0.0%

-3.7%

47.0%

17.5%

9.6x

4.3x

8.1%

10.4%

-19.0%

0.7x

6.8%

Union Bank of Nigeria PLC

5.10

1.0%

0.2%

-34.6%

-32.1%

ŵŝĚƐƚ Ă ďĞĂƌŝƐŚ ƐĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů

Julius Berger Nigeria PLC

23.70

0.0%

0.3%

-15.4%

17.3%

Sterling Bank PLC

1.60

'ŽŽĚƐ ŝŶĚĞǆ ĞŵĞƌŐĞĚ ƚŚĞ ůŽŶĞ ŐĂŝŶĞƌ ŝŶ ǇĞƐƚĞƌĚĂǇ͛s

3.2%

0.4%

48.1%

41.6%

Dangote Flour Mills Plc

6.65

-9.5%

0.2%

-45.3%

WAPCO (-ϰ͘ϭйͿ ƚŽ ƉƵƐŚ ƚŚĞ ŝŶĚĞǆ ŚŝŐŚĞƌ ďǇ ϮďƉƐ͘ dŚĞ Kŝů

0.1x

176.50

session as gains in DANGCEM ;нϭ͘ϳйͿ ĞƌĂƐĞĚ ůŽƐƐĞƐ ŝŶ

3.1%

UAC of Nigeria PLC

Industrial Index Emerges Lone Gainer

23.8%

BREWERIES ;Eϲϭϲ͘ϲŵͿ͘

19.9%

1.7x

9.3x

0.5x

1.8%

6.6x

1.0x

10.6%

1.1%

4.2x

0.0%

17.0% -12.1%

10.8% 4.2%

15.2% 23.8%

0.4x

1.2%

0.8x

3.0%

GlaxoSmithKline Consumer Niger

12.30

0.0%

0.2%

-43.1%

6.5%

3.6%

9.8x

1.7x

61.0%

Chemical and Allied Products P

28.60

0.0%

0.2%

-15.9%

-19.9%

66.2%

30.2%

13.4x

8.9x

6.8%

7.5%

Beta Glass PLC

62.10

0.0%

0.2%

21.0%

17.7%

11.5%

7.5x

1.2x

1.7%

13.3%

Transcorp Hotels Plc

6.10

0.0%

0.1%

-15.4%

6.9%

3.8%

11.9x

0.8x

2.0%

8.4%

10.2%

Θ 'ĂƐ ŝŶĚĞǆ ůĞĚ ƚŚĞ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĞƌƐ ŝŶ ǇĞƐƚĞƌĚĂǇ͛s ƐĞƐƐŝŽŶ ĂƐ ƐĞůů ƉƌĞƐƐƵƌĞƐ ŝŶ SEPLAT (-4.6%) and OANDO (-

T o p 10 G a i n e r s

T o p 10 T r a d e s b y V o l u m e

Ϯ͘ϵйͿ ĚƌĂŐŐĞĚ ŽŶ ƚŚĞ ŝŶĚĞǆ ƐŚĞĚĚŝŶŐ Ϯ͘ϲй͘ dŚĞ ĂŶŬŝŶŐ

T ic k er

P ric e

P ric e C hg %

ŝŶĚĞǆ ƚƌĂŝůĞĚ ĂƐ ůŽƐƐĞƐ ŝŶ FBNH (-8.3%) and ZENITH (-3.1%)

P R ESC O

58.00

9.4%

ST A N B IC

52.50

7.1%

D IA M ON D B N K

1.39

6.9%

FCM B

ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĂůƐŽ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ͕ ƐŚĞĚĚŝŶŐ

LIVEST OC K

0.55

5.8%

C UST OD IA N

25.9

1.0%

ϯϰďƉƐ ĂŶĚ ϯϭďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĂƐ ůŽƐƐĞƐ ŝŶ LINKASSURE (-

C A D B UR Y

10.00

5.3%

FB NH

12.2

-8.3%

J A P A ULOIL

0.21

5.0%

D IA M ON D B N K

12.1

6.9%

A IIC O

0.75

4.2%

Z EN IT H B A N K

10.9

-3.1%

T R A N SC OR P

1.36

3.8%

F ID ELIT YB K

8.1

1.0%

ST ER LN B A N K

1.60

3.2%

UB A

7.8

-1.2%

UA C N

9.85

3.1%

D A N GC EM

7.4

1.6%

ƉƵůůĞĚ ƚŚĞ ŝŶĚĞǆ ƐŽƵƚŚǁĂƌĚƐ ďǇ ϭ͘ϳй͘ dŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ

4.6%),

LASACO

(-6.3%),

INTBREW

(-1.6%),

and

DANGSUGAR (-Ϯ͘ϭйͿ͕ ƉƵƐŚĞĚ ƚŚĞ ŝŶĚŝĐĞƐ ůŽǁĞƌ͘ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

T ic k er

Vo lum e

P ric e C hg %

GUA R A N T Y

57.6

-1.3%

ST ER LN B A N K

57.0

3.2%

41.1

-1.3%

T o p 10 L o s e r s

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϳǆ ĨƌŽŵ Ϭ͘ϵǆ

T ic k er

recorded in yesterday͛Ɛ ƐĞƐƐŝŽŶ ĂƐ ϭϳ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ

T o p 10 T r a d e s b y V a l u e

P ric e

P ric e C hg %

M EYER

0.56

-9.7%

D A N GF LOUR

6.65

-9.5%

R EGA LIN S

0.20

-9.1%

yesterday were PRESCO ;нϵ͘ϰйͿ͕ STANBIC (+7.1%) and

FB NH

8.25

-8.3%

DIAMOND ;нϲ͘ϱйͿ ǁŚŝůĞ MEYER (-ϵ͘ϳйͿ͕ DANGFLOUR (-

LA SA C O

0.30

J A IZ B A N K

Value

P ric e C hg %

GUA R A N T Y

2190.2

-1.3%

D A N GC EM

1609.5

1.6%

616.6

0.6%

Z EN IT H B A N K

261.4

-3.1%

-6.2%

N EST LE

205.0

0.0%

0.46

-6.1%

IN T B R EW

160.7

-1.6%

WEM A B A N K

0.57

-5.0%

C UST OD IA N

129.7

1.0%

yesterday͛Ɛ ƐĞƐƐŝŽŶ͘ tŚŝůĞ ǁĞ ĐŽŶƟŶƵĞ ƚŽ ŵĂŝŶƚĂŝŶ Ă ŶĞĂƌ

M A YB A KER

2.24

-4.7%

P R ESC O

117.4

9.4%

ƚĞƌŵ ďĞĂƌŝƐŚ ŽƵƚůŽŽŬ ŽŶ ƚŚĞ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ͕ ǁĞ

SEP LA T

615.50

-4.6%

FB NH

106.5

-8.3%

0.63

-4.5%

ST ER LN B A N K

88.3

3.2%

ĂŐĂŝŶƐƚ Ϯϰ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ďĞƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ĨŽƌ

ϵ͘ϱйͿ ĂŶĚ REGALINS (-ϵ͘ϭйͿ ůĞĚ ƚŚĞ ůĂŐŐĂƌĚƐ ŝŶ

ĂŶƟĐŝƉĂƚĞ Ă ƐŽŌ ƌĞďŽƵŶĚ ŝŶ ƚŽŵŽƌƌŽǁ͛s trading session.

Afrinvest Securities Limited (RC 603 315) (A Dealing Member of the Nigerian Stock Exchange)

LIN KA SSUR E

T ic k er

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde |

Bolaji Fajenyo | bfajenyo@afrinvest.com

Jolomi Odonghanro | jodonghanro@afrinvest.com

romotunde@afrinvest.com

T H I S D AY Ëž Ëœ ÍťÍšËœ ÍşÍ¸ÍšÍś

MARKET NEWS

C & I Leasing Grows Profit by 25% to N1.2bn in Nine Months Goddy Egene C & I Leasing Plc has reported a growth of 25 per cent in profit after tax (PAT) for the nine months ended September 30, 2018. The unaudited results released yesterday showed gross earnings of N19.9 billion, up 15.6 per cent from N17.2 billion, while lease rental income rose to N13.9 billion, up by 17.5 per cent from N11.8 billion in 2017.

Personnel outsourcing income increased by 10.4 per cent to N5.0 billion, from N4.5 billion, bringing net operating income to N5.7 billion, up 8.6 per cent from N5.2 billion. C & I Leasing Plc ended the period with profit before tax (PBT) of N1.3 billion, up 11.4 per cent from N1.2 billion. PAT jumped by 25 per cent to N1.2 billion, compared with N950 million in 2017. Speaking on the results, the

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these â€˜sharesâ€™ on the

Managing Director/CEO of C & I Leasing Plc, Mr. Andrew Otike-Odibi said: â€œThe Company recorded an increase of about 15.6% in revenue from N17.2 billion in the corresponding period of 2017 to N19.9 billion in 2018 and a stronger improvement in our profit after tax (up by 25 per cent from N0.95 billion in 2017 to N1.2 billion in 2018) while the group has continued to deliver a healthy performance despite the challenging operating

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 2910-2018, unless otherwise stated.

environment. This result was achieved on the back of increased efficiency from all the business units as well as improvement in capacity utilisation of both marine and non-marine assets.â€? This continued progress of our business units and brands is the result of our dedication to quality service delivery and efficient processes coupled with increased visibility following some successful strategic marketing activities.

As at 30 September 2018, the capital adequacy ratio still stood at 8.9% below the CBN minimum requirement of 12.5% and this is due to the pending conversion of $10 million loan stock from Abraaj which is expected to be completed through 2018 and result in our CAR returning to normalized levels.â€? He explained that the companyâ€™s marine business acquired two brand new Tugboatsâ€™ named â€˜MV

Chidiebubeâ€™ and â€˜MV Folashadeâ€™ with SIFAX Marine Limited under the SIFAX C&I Marine Limited joint venture arrangement. â€œWe have continued to add new clients to our outsourcing business, with existing client contracts also renewed. We have seen increased demand in HR Business Process requests especially for staff travel and logistics, as a result of which we have closed the right partnerships to aid timely delivery,â€? he said.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.84 0.85 1.68% ACAP Income Funds 0.62 0.62 6.28% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 12.00% AIICO Balanced Fund 2.21 2.22 -3.98% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 10.96% Paramount Equity Fund 11.63 11.93 4.90% Women's Investment Fund 102.07 104.69 1.43% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 11.91% Cordros Milestone Fund 2023 99.54 99.54 Cordros Milestone Fund 2028 99.85 99.85 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 11.41% Coronation Balanced Fund Coronation Fixed Income Fund 1.08 1.11 4.13% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 11.79% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.09% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,156.18 1,156.92 10.39% FBN Heritage Fund 143.42 144.63 0.84% FBN Money Market Fund 100.00 100.00 12.04% FBN Nigeria Eurobond (USD) Fund - Institutional $113.50 $113.74 4.23% FBN Nigeria Eurobond (USD) Fund - Retail $113.27 $113.50 4.12% FBN Nigeria Smart Beta Equity Fund 150.77 152.90 -5.28% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 1.23 1.26 -4.55% Legacy Debt Fund 3.19 3.19 10.31% Legacy USD Bond Fund 1.02 1.02 1.60% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 11.82% Nigeria Entertainment Fund 105.84 106.00 5.33% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 11.93%

Vantage Balanced Fund 2.15 2.17 1.89% Vantage Guaranteed Income Fund 1.00 1.00 14.22% Kedari Investment Fund (KIF) 122.53 122.76 6.47% LOTUS CAPITAL LTD ďŹ ncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.19 1.21 4.07% Lotus Halal Fixed Income Fund 1,075.77 1,075.77 11.51% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.56 11.66 -10.92% Meristem Money Market Fund 10.00 10.00 11.52% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.34 1.36 12.24% PACAM Fixed Income Fund 11.97 12.02 8.41% PACAM Money Market Fund 10.00 10.00 12.35% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 127.98 128.39 -1.34% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.67 1.67 12.35% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,313.34 2,328.37 5.26% Stanbic IBTC Bond Fund 186.35 186.35 7.03% Stanbic IBTC Ethical Fund 0.96 0.97 -4.46% Stanbic IBTC Guaranteed Investment Fund 244.14 244.18 13.13% Stanbic IBTC Iman Fund 161.42 163.25 -9.86% Stanbic IBTC Money Market Fund 100.00 100.00 11.44% Stanbic IBTC Nigerian Equity Fund 8,679.79 8,786.32 -8.76% Stanbic IBTC Dollar Fund (USD) 1.10 1.10 6.22% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.16 1.17 -1.77% United Capital Bond Fund 1.56 1.56 9.44% United Capital Equity Fund 0.69 0.71 -8.29% United Capital Money Market Fund 1.00 1.00 11.80% United Capital Eurobond Fund 105.33 105.33 5.28% United Capital Wealth for Women Fund 1.08 1.08 3.65% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.24 11.40 -6.92% Zenith Ethical Fund 12.14 12.23 -5.85% Zenith Income Fund 19.73 19.73 10.96% Zenith Money Market Fund 1.00 1.00 11.85%

REITS NAV Per Share

Yield / T-Rtn

9.00 138.69 51.55

-20.11% 4.70% 1.42%

Bid Price

Offer Price

Yield / T-Rtn

10.67 121.69 94.11

10.77 124.27 95.87

-9.92% -14.80% -13.86%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva GrifďŹ n 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

SPECIALIST FUNDS*

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.27 7.33 15.47 14.55 143.43

4.31 7.41 15.57 14.75 145.43

-9.83% -23.28% -11.47% -25.91% 6.59%

NAV Per Share

Yield / T-Rtn

105.44

17.63%

FOR HNI & PROFESSIONAL INVESTORS ONLY

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund managerâ€™s website and FMANâ€™s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

THISDAYt8&%/&4DAY OCTO#&3 ČĊ ċĉĊđ

THISDAYtWEDNESDAY OCTOBER 31, 2018

THISDAYt8&%/&4DAY OCTO#&3 ČĊ ċĉĊđ

THISDAYtWEDNESDAY OCTOBER 31, 2018

WEDNESDAY OCTOBER 31, 2018 ˾ T H I S D AY

FOREIGN/DIPLOMATIC AFFAIRS

German Nurse, Hoegel Admits Killing over 100 Patients Former nurse, Niels Hoegel, admitted Tuesday to killing 100 patients in his care, on the first day of his trial in the biggest serial killing case in Germany’s post-war history. Hoegel, 41, has already spent nearly a decade in prison on a life term for other patient deaths, and is accused of intentionally administering medical overdoses to victims so he could bring them back to life at the last moment. As the proceedings opened in the northern city of Oldenburg, presiding judge, Sebastian Buehrmann, asked whether the charges against him were accurate. Hoegel replied quietly “yes”. “What I have admitted took place,” he told the courtroom crowded with dozens of grieving relatives Buehrmann said the main aim of the trial was to establish the full scope of the murder spree that was allowed to go unchecked for years at two German hospitals. “It is like a house with dark rooms — we want to bring light into the darkness,” he said. After a minute of silence in the courtroom for the victims, the bearded, heavyset Hoegel listened impassively, his head lowered, as public prosecutor Daniela Schiereck-Bohlmann read out the name of each dead patient and the charges against the defendant.

Prosecutors say at least 36 patients were killed at a hospital in Oldenburg where he worked, and about 64 more at a clinic in nearby Delmenhorst, between 2000 and 2005. More than 130 bodies of patients who died on Hoegel’s watch have been exhumed, in a case investigators have called “unprecedented in Germany to our knowledge”. One of the more than 100 co-plaintiffs in the trial, Christian Marbach, said it was a scandal that Hoegel had been allowed to kill with impunity for such an extended period of time without hospital authorities or law enforcement intervening. “They had everything they needed (to stop him) — you don’t have to be Sherlock Holmes,” Marbach, the grandson of one of the patients, told AFP. Hoegel told the court he was “surprised” when a superior at the Oldenburg hospital asked him to resign in late 2002, saying he would get a positive recommendation and holiday pay if he left voluntarily. “I felt bad, like I had been caught,” Hoegel said, adding however that he was never explicitly told why they wanted him gone. Marbach said the defendant seemed remarkably composed as he admitted to the extraordinary list of killings. “He looks like a little, vulnerable

TrumpVows to End Citizenship By Birth President Donald Trump says he wants to order the end of the constitutional right to citizenship for babies of non-citizens and unauthorized immigrants born in the United States. The US president, who is taking an increasingly hardline stance on immigration, said the “process” to end birthright citizenship by executive order is underway, and denied such a fundamental change would need the input of Congress. Trump believes focusing on immigration will energize his supporters and help Republicans keep control of Congress. Revoking birthright citizenship would spark a court fight over the president’s unilateral ability to change an amendment to the Constitution. The 14th

Amendment guarantees that right for children born in the U.S. “It was always told to me you need a constitutional amendment,” Mr Trump told Axios. “Guess what, you don’t.” “You can definitely do it with an act of Congress, but now they’re saying I can do it just with an executive order,” the president continued. “Now how ridiculous, we’re the only country in the world where a person comes in, has a baby, and the baby is essentially a citizen of the United States for 85 years with all of those benefits. It’s ridiculous, it’s ridiculous and it has to end.” Trump says White House lawyers are reviewing his proposal but it’s unclear how quickly he’d act on an executive order.

Israel Appoints First Female Ambassador to Egypt Israel has appointed a first female ambassador to Egypt, Israeli Foreign Ministry said on Tuesday. Amira Oron was appointed by the Supreme Appointments Committee of the Foreign Ministry, which is headed by Israeli Foreign Ministry Director-General Yuval Rotem. Oron will be the first woman to serve in the post since the peace treaty between Israel and Egypt was signed in 1979. She will succeed David Govrin, who has been serving as Israel’s ambassador to Cairo since 2016. Oron began working for

Israeli Foreign Ministry in 1991. She has served as a staff member of the Israeli embassy in Cairo, a deputy spokesperson for Israeli Foreign Ministry and director of the Foreign Ministry’s Department of Communications in the Arab World. Between 2015 and 2016, she served as the charge d’affaires at the Israeli Embassy in Turkey amid diplomatic crisis between the two countries in the wake of the 2010 Gaza-bound flotilla incident. In 2016, Israel and Turkey normalised ties and a new ambassador was appointed.

mass murderer.” Job scam: I sold my commercial bus to raise N600,000, witness tells court Caught in 2005 while injecting an unprescribed medication into a patient in Delmenhorst, Hoegel was sentenced in 2008 to seven years in prison for attempted murder. A second trial followed in 201415 under pressure from alleged victims’ families. He was found guilty of murder and attempted murder of five other victims and given the maximum

sentence of 15 years. It was then that Hoegel confessed to his psychiatrist at least 30 more murders committed in Delmenhorst. That prompted investigators to take a closer look at suspicious deaths in Oldenburg. Taking the stand Tuesday, Hoegel said he began taking painkillers shortly after becoming a nurse in 1999 as he felt overwhelmed by the stress of working in the intensive care unit.

“I should have quit,” he said. Asked by the judge why he didn’t admit to the remaining murders before now, Hoegel said it was “out of shame” and because it took him a long time to face up to what he had done at the first hospital. It was only through reading the court files and in therapy that “I started to recognise the full dimension”, he said. Investigators say the final toll could top 200 but fear they might

never know for sure because the bodies of many possible victims were cremated. Hoegel appears to have followed a similar procedure each time, first injecting a medication that triggered cardiac arrest, followed by an often futile attempt at resuscitation. Prosecutors say he was motivated by vanity, to show off his skills at saving human lives, and by simple “boredom”.

Eﬀect of the ﬁerce winds and rain which left 10 people dead in Venice, Italy....yesterday

Merkel Pledges €1bn Fund for Investments in Africa Chancellor Angela Merkel on Tuesday pledged a billion euros to incite businesses to invest in Africa, as she urged the private sector to take a closer look at the continent’s “huge” economic opportunities. The creation of the fund announced during an investment forum in Berlin is aimed at getting small and medium-sized companies to grow their presence in Africa. Germany has been seeking to help boost economic development in Africa, as it hopes that better work prospects and living standards on the continent would help curb illegal migration to Europe. For Merkel, economic development requires not just government support but also private investment. “This is modern development policy,” she told the forum. The new fund would go towards offering loan and equity financing to European and

German SMEs seeking to invest in Africa, equity financing for African SMEs as well as the establishment of a network offering advice to potential investors. Stressing Africa’s “huge potential for growth”, Merkel noted that “for many years we have been very focused on Asia. I think that in future we should turn our sights more on Africa.” The gathering, attended by leaders from around a dozen African countries, is part of Merkel’s so-called “Compact with Africa” initiative launched last year during Germany’s stint as G20 president. The ambitious scheme aims to help African countries attract private investment along with technical and financial assistance, in return for reforms that improve the business climate, such as fighting corruption or improving the rule of law. “It is of great interest to Europeans that African states have good economic prospects,”

Merkel told the audience, which included Rwandan President Paul Kagame and South Africa’s Cyril Ramaphosa. Merkel has placed a strong emphasis on African diplomacy in recent months, backing efforts to boost prosperity on the continent in order to dissuade its people, especially the young, from setting off for Europe. The veteran chancellor has come under intense pressure at home to stem the flow of migrants after the arrival of more than a million asylum seekers since 2015 deeply polarised Germany. Most of the migrants came from conflict-torn Syria, Afghanistan and Iraq but many thousands also arrived from impoverished African countries — even though their chances of winning political asylum are slim. Addressing the conference, Rwandan leader Kagame welcomed investments by

the likes of Volkswagen and Siemens in his country, which he said had spurred interest from other foreign companies as well. Ghana, Tunisia and Ivory Coast have together already received 365 million euros ($414 million) in financial assistance under the “Compact with Africa” initiative, mainly in the form of low-interest loans. Critics, however, complain that the project is not aimed at helping Africa’s poorest nations, focusing instead on countries whose living standards are already improving — and are a more interesting destination for export champions like Germany. Der Spiegel weekly also slammed the conference for putting business above politics by inviting autocratic leaders such as Egyptian President Abdel Fattah al-Sisi “who has thrown thousands of regime critics in jail and suppressed civil society”.

South Sudan Rebel Leader Machar to Return South Sudan armed opposition leader, Riek Machar, is coming home under the country’s latest peace deal, more than two years after he fled on foot into exile, a spokesman said Tuesday. Lam Paul Gabriel told The Associated Press that Machar is returning to take part in a nationwide peace celebration on Wednesday, leading a small delegation but not bringing his own security despite concerns for his safety. “If this peace has to be implemented we need to trust each other,” the spokesman said.

Machar is returning to let everyone know he is ready for peace, he added. Under the deal signed last month, Machar will be President Salva Kiir’s deputy once again. That arrangement has twice collapsed in deadly fighting, when the civil war broke out in December 2013 and again in July 2016 when an earlier peace agreement collapsed and Machar fled into neighboring Congo. Concerns are high that this latest fragile agreement will fall apart as well, with the United States among those openly

wondering whether the two men whose rivalry has led to so much bloodshed can finally end the conflict. South Sudan’s five-year civil war has killed almost 400,000 people with violence and disease, according to a recent estimate. Millions have been displaced and parts of the country have been plunged into famine. So far the new peace deal has been criticised for its slow implementation, with missed deadlines and continued cease-fire violations. Machar wrote to Kiir last

week saying he would attend Wednesday’s celebrations only if certain conditions were met, including the release of all political prisoners, the lifting of the state of emergency, free movement inside the country for all opposition groups and a guarantee for his safety. While there has been no indication by South Sudan’s government that the concerns have been met, Kiir in an interview with Kenyan’s Citizen TV last week said Machar’s safety would be secured by the government.

WEDNESDAY OCTOBER 31, 2018 ˾ T H I S D AY

NEWSEXTRA

Dangote Refinery to Save Nigeria from Dirty Fuels Deborah Orji Dangote Oil Refinery Company (DORC) has stated that the 650,000 barrels per day refinery has been designed to process a variety of light and medium grades of crude and produce extremely clean fuels that meet Euro V specification. Sulphur in petroleum fuels results in vehicle

exhaust emissions that have negative impact on health and environment. Nigeria has continued to remain a home for fuels with very high sulphur contents (dirty fuels), and the presumed ban on such products is not having any effect. Speaking on “Promoting Efficiency and Clean Fuels in African Refining and

INEC Obeys Court Order, to Publish List of Kashamu’s Candidates Decision a huge compromise, PDP alleges Adedayo Akinwale in Abuja The Independent National Electoral Commission (INEC) has notified the Peoples Democratic Party (PDP) of its decision to publish the lists of candidates submitted by the Adebayo Dayo-led State Executive Committee of Ogun State PDP in pursuant to the orders until it is set aside. The Federal High Court in Abeokuta had on October 2, 2018 ordered the Commission to recognise Dayo-led PDP in Ogun State and receive list of candidates for the 2019 governorship, National Assembly and State House of Assembly Elections from the said committee. But in a swift reaction by the National Publicity Secretary of the party, Mr. Kola Ologbondiyan, said that the decision of the electoral body was not acceptable by the party, adding that the party was already in court to appeal the judgment. INEC in a letter addressed to the National Chairman of the PDP, Prince Uche Secondus titled, ‘Nomination of Candidates for 2019 General Elections In Ogun State’, and signed by the Ag. Secretary to the Commission, Okechukwu Ndeche said it would recognise the faction loyal to Senator Buruji Kashamu based on the court order. The letter written to the party on October 25, 2018 and received on October 30, 2018 by the party read in part: “The Commission wishes to draw your attention to the decisions of the Federal High Court in the under listed cases: FHC/L/CFS/636/2016 Mr. Adebayo Dayo and Anor vs INEC and five others; FHC/L/ CFS/114/2018 Alhaji Adewole Adeyanju(Member PDP National Working committee) and six others. vs INEC and 30 others; FHC/ABJ/ CFS/636/2016 Mr. Adebayo Dayo (State Chairman) and eight others vs INEC and three others.” “The Federal High Court in Abeokuta had on October 12, 2018 in Suit No. FHC/ABJ/ CFS/636/2016, Mr. Adebayo Dayo (State Chairman) and 8 others vs INEC and three others also order the Commission to recognise Adebayo Dayo- led State Executive Committee of PDP in Ogun State and receive list of candidates for the 2019 Governorship, National Assembly and State House of Assembly Elections from

the said committee.” “The Federal High Court in the matters ordered the Commission to recognise Adebayo Dayo- led State Executive Committee of PDP in Ogun State and receive list of candidates for the 2019 Governorship, National Assembly and State House of Assembly Elections from the said committee.” “You will recall that the Commission vide a letter dated April 12, 2018 informed your party of the Commission’s compliance with the judgments of the Federal High Court in Suit Nos. FHC/L/CFS/636/2016 -Engr. Adebayo Dayo & Anor vs INEC and fiver others and FHC/L/CS/1856/2017Alhaji Adewole Adeyanju, member PDP National Working committee) and 6 others vs INEC and 30 others, which affirmed the decision of the Federal High Court in Suit No Suit Nos. FHC/L/ CFS/636/2016 which is subsisting until it is set aside. “Consequently, the Commission hereby notes the decisions of the Federal High Court in the above referred cases and will publish the lists of candidates submitted by the Adebayo Dayo led State Executive Committee of Ogun State pursuant to the Orders of the Federal High Court until they are set aside.” Ologbondiyan stressed: “If it claimed that it collected any list outside what the national secretariat of PDP submitted to it, it is a huge compromise. And we say so according to our statutes and all the laws governing elections in Nigeria, INEC cannot take a list from a state of the party. INEC takes list from the national headquarters of the party. “So if it claimed that it had gone to take any list from anywhere, it is unknown to us and it is unknown to the rule guiding elections in Nigeria. They acknowledged all the names that we submitted to them. So, it is to totally strange, unknown to the rules and unknown to the PDP that INEC is claiming that it has another list. We are not aware.” Meanwhile, in the form EC.25C submitted by the party to INEC on October 18, 2018, the party’s candidates for Ogun are: Hon. Jelil K. Amusan, for Ogun Central, Barr. Ajibola Kalejaye, Ogun East and Bankole Durotolu D. Ogun West.

Petrochemicals Market,” at the Oil Trading and Logistics (OTL) conference in Lagos yesterday, Dangote’s Group Executive Director, Devakumar Edwin, said Dangote Refinery is investing in most advanced units to produce Euro V fuel to help Nigeria meet the European standard of petrol. Edwin, who was represented by Director Business Strategy and Optimisation, Dangote Refinery, Mr. Srinivas Rachakonda, said that the construction of the Refinery will provide thousands of direct and indirect jobs and add value to the Nigeria’s economic development. He noted that the Refinery will lead to significant skills transfer and technology acquisition opportunities in the country. He added that Dangote Group has embarked on a landmark integrated refinery and petrochemical project, regarded as the largest industrial complex in the history of Africa, which is expected to take Nigeria to new

heights through transformation of the economy. According to him, the refinery will ensure that the security of local supply of petroleum products is guaranteed as well as the availability of petrochemical feedstock (Polypropylene and Polyethylene), which will be enough for the Nigerian market as well as the neighboring countries. In addition to Polypropylene Polyethylene, the Refinery will also produce Carbon Black feedstock and Sulphur. With a fast-growing population and poor infrastructure, he said the refinery will also reposition Nigeria as an attractive investment destination and a major industrial hub in Africa. He disclosed that the company has also invested in the East West Offshore Gas Gathering System (EWOGGS) project, which is expected to unlock significant gas supply and help to reduce gas flaring in Nigeria.

According to him, the first phase is expected to deliver gas for the use of Dangote Industries, including the proposed fertiliser plant in the refinery complex, and other identified industrial and power plant users. Also speaking during the session, a former Executive Secretary of the Petroleum Product Pricing Regulatory Agency (PPPRA), Mr. Reginald Stanly, said Dangote Refinery is going to be a game changer for the entire African downstream industry. He condemned the continuous importation of dirty fuel into the country. “Emission is the highest killer today in Nigeria. I commend Dangote Refinery for its decision to produce Euro V specification of gasoline. Dumping of toxic fuel in the country is not acceptable, the earlier they stop it, the better for us,” he added. He urged the major oil marketers to retool their strategies to remain in business when Dangote refinery finally

comes on stream. In his welcome address, Chairman, OTL Africa Downstream, Mr. Emeka Akabogu, said recent market tendencies have shown appetite for some categories of investment in the downstream value chain. Akabogu noted that there have been considerable investments in retail outlet development, marine logistics platforms and storage facilities across the country, while several refinery projects that aim to balance the discrepancy caused by inadequate refining capacity on the continent are currently underway. He said other emerging developments, issues bordering on regulation of the industry and independence of the regulators themselves have also received the attention of stakeholders. He added that policy development and implementation have not kept pace with the urgency of industry needs and the appetite of market operators.

CONGRATULATIONS...

L-R: Executive Director, International Trade Centre (ITU), Ms. Arancha Gonzalez; Executive Director, Nigerian Export Promotion Council (NEPC), Segun Awolowo; Chief Executive Officer, Business France, Christophe Lecourtier, when Nigeria won World Trade Organisation award in Paris, France...recently

BudgIT Faults Osinbajo’s Claims on $10bn Debt Stock Ugo Aliogo BudgIT, civic tech organisation, has faulted the claims by the Vice President, Prof. Yemi Osinbajo, that the President Muhammadu Buhari-led administration inherited a debt of $63 billion and has only borrowed $10 billion since it took over office in 2015. The organisation in a statement made available to THISDAY yesterday by its Human Resources Manager,Niyi Soleye, noted that the trending story was that the country borrowed only N3 trillion in three years since the debt stock rose by $10 billion. It explained: “We opine that the current rise of $10 billion in public debt stock does not tell the full story. To say the least, this can be misleading. Argument explaining that the entire federation borrowed only

N3 trillion in three years since the debt stock rose by $10 billion has been the trending narrative. “However, it is important to deconstruct the federal government debt into external and domestic debt to get a full understanding for purposes of accountability,” it added. According to the statement, the federal government debt stock totals the sum of external debt and domestic debt. It further stated that the Debt Management Office’s figures showed that federal government’s external debt alone grew from $7.34 billion in June 2015 to $17.83 billion in June 2018, which was an additional $10.49 billion in three years. “Domestic debt of FG as at June 2015 was N8.39 trillion while it stood at N12.15 trillion as at June 2018. That’s another increase of N3.76 trillion in three

years. “At an exchange rate of N305/$, that’s $12 billion. This means the total increase in external and domestic debt is $22 billion. “It is public knowledge that the naira was devalued in recent years, and this singular act shrunk and expanded a lot of indexes. Those who put forward $10 billion are comparing the wrong values without adding the important information that exchange rates for the times are different. “From our research, we have observed that this administration (FG alone) borrowed $22 billion in three years, but due to naira devaluation gains but total public debt stock (for the entire Federation) increased by $10 billion, which makes current claims true. “However, it is important to state that it is true that public

debt is now $73 billion, grew by $10 billion, because federal government domestic debt in dollar terms was $42.63 billion in June 2015 and $39.75 billion as at June 2018. “This does not mean that the federal government borrowed less domestic debt in three years. It only goes to show that the domestic debt of FGN grew from N8.39 trillion to N12.15 trillion, from 2015 to 2018 respectively,” it explained. According to BudgIT, devaluing the exchange rate from N196.95/$ to N305.7/$ made the domestic debt in 2018 relatively smaller in dollar terms. “For clearer understanding, let’s use this analogy. It is like borrowing N1,000 in 2015 which is $5 at N200/$. If you borrow additional N500 at a new exchange rate of N300/$, you now owe N1,500 but you still owe an equivalent of $5.

WEDNESDAY OCTOBER 31, 2018 ˾ T H I S D AY

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We Want MTN to Refund $8.1bn, CBN Tells Court Davidson Iriekpen The Central Bank of Nigeria (CBN) has told a Federal High Court in Lagos that contrary to the impression that it imposed a fine on MTN Nigeria, it merely directed the telecoms giant to refund the foreign exchange it improperly purchased in return for the naira equivalent. The bank disclosed this in its preliminary objection cited by THISDAY yesterday. It, therefore, asked the court to dismiss the suit filed against its decision by the telecoms firm because it lacks the jurisdiction to hear the case. The CBN recently directed

MTN Nigeria to refund the sum of $8,134,312,397, over allegations that the telecoms company violated the extant laws and regulations of the Federal Republic of Nigeria, including the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995, and the Foreign Exchange Manual, 2006. But the telecoms firm had denied the allegations. It consequently filed a suit in the court to challenge the decision. It said the apex bank did not give it the right of fair hearing and that the bank lacked the powers to determine its civil obligations and penal liabilities. However, when the suit came up yesterday, the presiding judge

Russian Federation, UAE Partner NNPC for Oil, Gas Development The Russian Federation and the United Arab Emirates have expressed their readiness to expand their scope of partnership with the Nigerian National Petroleum Corporation (NNPC) in the upstream, midstream, downstream and services sectors to further boost their various economies. Speaking after a working visit to the Group Managing Director of the NNPC, Dr. Maikanti Baru, the Russian Federation Ambassador to Nigeria, His Excellency, Alexey Shebarshin, said the proposed synergy was for the betterment of the indigenous people of Russia and Nigeria. Shebarshin said the visit was to consolidate the collaboration and partnership with NNPC in ensuring the growth and development of the Nigerian oil and gas industry for collective interests. He said: “With deep thanks and appreciation of further cooperation between the Russia Oil and Gas Companies and NNPC that will bring positive results of our joint cooperation,” Shebarshin affirmed.

The Russian Federation ambassador to Nigeria stated that the two countries have had a long history and would continue to expand their business interests as part of efforts to improve the standard of living of citizens. Speaking in a similar vein during his courtesy call to Baru, the Ambassador of the United Arab Emirates (UAE), His Excellency Obaid Mohammed Aitaffag, said his country would continue to partner the NNPC in the development of the downstream and services sector of the petroleum sector. “It was a pleasure to meet the NNPC team led by Baru. I hope that our discussion brings closer ties between UAE and Nigeria in the areas of oil and gas,” Aitaffag stated. It would be recalled that the Russian Federation, as an oil producing nation, joined other countries that make up the Organisation of the Petroleum Exporting Countries (OPEC) in the landmark declaration of cooperation to stabilise global supply of oil to the international market.

BPE Considers Framework to Check Undue Influences in Privatisation Process Ndubuisi Francis in Abuja The Bureau of Public Enterprises (BPE) is putting in place a framework to rid the processes leading to the privatisation of public assets of undue influences and possible abuses. The BPE’s Director General, Mr. Alexander Okoh, who made the disclosure in Abuja yesterday on the sidelines of the swearing and signing of pledges by participants of the global anti-bribery and anti-corruption workshop organised by Malkara Consulting, also revealed that to ensure greater accountability and transparency in the sale of assets, the privatisation agency was pursuing the introduction of public offering This, he said, would whittle down public scepticism and negative perception from certain stakeholders as well as ensure greater buy-in by Nigerians. “What we want to do going forward, is to put in place a framework that would ensure that there are no undue influences in

the process of selling these assets “Once the public is convinced that these assets are sold in a transparent manner, then, the pushback is that the public antagonism to privatisation will be greatly reduced. We are also trying to emphasise the sale of the assets through public offer. “Through that process, every retail market woman, civil servant and everybody can buy into these assets and feel a sense of ownership of the divestment of these assets,” he said. In his address at the event, Okoh noted that privatisation is a key tool for economic growth, adding that in the 30 years of the enterprise reform journey in the country, the federal government had reformed over 140 public enterprises across various sectors. He regretted that notwithstanding the obvious benefits of and the impact that privatisation has had on the Nigerian economy, there is still a great deal of scepticism from certain stakeholders.

of the court, Justice Saliu Saidu, while adjourning the suit till December 4, 2018, for the hearing of all pending applications, directed that hearing notice be served on the Attorney General of the Federation (AGF), Mr. Abubakar Malami (SAN), who was joined as the 2nd defendant in the suit, but absent and not represented in court. While MTN Nigeria was represented by Chief Wole Olanipekun (SAN), who led 14 other lawyers, including Prof. Fabian Ajogwu (SAN), Mr. Damian Dodo (SAN), Mr. Adeniyi Adegbonmire (SAN), and Mr. Bode Olanipekun (SAN), to prosecute the matter, the CBN was represented by Messrs Seyi Sowemimo (SAN) and Ademola Akinrele (SAN).

In the suit, marked FHC/L/ CS/1475/2018, MTN is seeking a court declaration that it is “not liable to refund $8,134,312,397.63 to the coffers of the 1st defendant (CBN) premised on the decisions reached in the 1st defendant’s letter of 28/8/2018.” The telecommunications giant is urging the court to declare that “the 1st defendant’s decision in its letter of August 28, 2018 with Ref No GBD/GOV/COM/ DGF/118/121 addressed to the plaintiff and titled, ‘Investigation into the remittance of foreign exchange on the basis of the illegal capital importation certificates issued to MTN Nigeria Communications Limited’ were reached in breach of the plaintiff’s right to fair hearing.” The firm wants Justice Saidu

to hold that the CBN “lacks the power to determine the civil obligations or penal liabilities of the plaintiff.” It is urging the court to declare that the CBN acted ultra vires its statutory powers when it wrote the August 18 letter to it demanding a refund of $8.1billion. The firm asked the court to hold that the $8.1billion demand was “illegal, oppressive, abusive, unauthorised and unconstitutional.” But in a preliminary objection filed by the CBN and cited by THISDAY yesterday, the apex bank said the lack of right of fair hearing by the telecoms firm was untenable in the face of the letter of Standard Chartered Bank admitting irregularities and violations of the extant foreign

exchange regulations in the issuance of capital importation certificates. The CBN added that it merely directed the plaintiff to undo the transaction by making a refund of the foreign exchange improperly purchased in return for the naira equivalent and impose no fine or penalty whatsoever. It also said MTN was given fair hearing because it admitted that its officials attended a meeting with the defendants where the issue was fully addressed in May 2018. It contended that declaration and injunction are equitable and discretionary remedies which are not available to a litigant who approaches the court with unclean hands.

CONVERSATION WITH MIMIKO...

L-R: Member of Zenith Labour Party (ZLP) in the House of Representatives, Hon. Joseph Akinlaja; presidential candidate of ZLP, Dr. Olusegun Mimiko; Prof. Dupe Olatunbosun, and governorship candidate of ZLP in Ogun State, Chief Segun Odegbami, during an interactive meeting tagged “Conversation with Mimiko,” held in Ibadan ...yesterday

Boko Haram: FG Faults Reports of Troops’ Starvation, Underpayment in North-east Says insurgents have been ‘’decapitated’’ Iyobosa UwugiareninAbuja The federal government has dismissed as unfounded, the allegations that troops fighting against insurgency in the North-east were underpaid and subjected to hunger. The Minister of Information and Culture, Alhaji Lai Mohammed, said yesterday that the claims were found to be untrue, following the conclusion of investigation ordered by President Muhammadu Buhari to establish the veracity of claims

that troops were fighting Boko Haram in deplorable conditions. He also said Boko Haram, which started like local issue had taken international dimension, stating however that the terrorist group had been ‘’decapitated.’’ ‘’Today, Boko Haram is being funded by ISIS and other terrorist groups. But the federal government has decapitated Boko Haram. There was a time when Abuja was not safe. But it is no longer the same. ‘’There was a time many local governments were under the control

of Boko Haram. That has changed; we are sure we have curtained the deadly activities of Boko Haram. ‘’There was a time banks, schools, telecommunications were closed — in 2015. But it is no longer the same’’, the minister added. On the welfare of the troops, the federal government’s spokesman said it is laughable to say that the troops are being paid N500 per day. Mohammed said in view of the grave security implication of the allegations contained in the publication, President Buhari

ordered an investigation to determine its veracity. “Gentlemen, the investigation has since been concluded and, in line with the transparent stance of this Administration, I have invited you here today to share with you the outcome. The summary of the findings is that there is no case of hunger, starvation or begging among the troops fighting in the North-East, and in particular in the Armed Forces Special Forces Battalion that was referenced in the publication.

Forensic Auditors Berate ICAN overVisit to Buhari Ask President to ignore institute’s ‘unbridled utterances’ Udora Orizu inAbuja The Chartered Institute of Forensic and Investigative Auditors of Nigeria (CIFIAN), has expressed displeasure at members of the Institute Chartered Accountants of Nigeria (ICAN) over its recent statements on the CIFIAN Bill during a visit to President Muhammadu Buhari. The CIFIAN President, Mrs. Victoria Enape, in a statement urged Buhari to ignore any move ICAN is making to scuttle forensic auditors’ bill.

According to her, “our attention has been drawn to the mischievous and malicious prayer of ICAN to President Muhammadu Buhari during their visit to him about the Chartered Institute of Forensic and Investigative Auditors of Nigeria Bill which was on the air in AIT, NTA and Channel television of October 19, 2018. “We are not surprised about ICAN’s unbridled utterances, which are due to their ignorance about the difference between accounting profession and anti-

fraud organisation.” “Ordinarily, we would have ignored the baseless issues raised during their visit to the President, but for the sake of the President and the public who are being misled by this unfortunate development and posterity, we are inclined to offer some clarifications, so that the whole world would discern between the truth and continuous deliberate effort of ICAN to thwart the noble course that is beyond an individual or personal and parochial interests of any group,” Enape said.

“It should be noted that while this malicious statement by ICAN can be easily dismissed by every discerning mind considering their previous acquired reputations and credentials on attacking every good professional body that they envisaged will expose their weaknesses, and the obvious lies conveyed in their statement to the President, leaving such lies in the public domain without appropriate response may be interpreted by unsuspecting members of the public as conceding to the antics of ICAN statement.”

WEDNESDAY OCTOBER 31, 2018 ˾ T H I S D AY

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Afenifere Suspends Omisore over His Role in Osun Election

James Sowole in Akure

The Pan-Yoruba Socio-political Group, Afenifere yesterday suspended the governorship candidate of the Social Democratic Party (SDP), Senator Iyiola Omisore, in the last election of Osun State. Omisore, according to Afenifere, was sanctioned for allegedly violating the directive of the the socio-political group, which affected the outcome of Osun State governorship election. The suspension of Omosore was contained in the communique issued at the end of the General Assembly of Afenifere held at the Ijapo, Akure residence of its leader, Chief Reuben Fasoranti. The SDP candidate was reported to have supported that All Progressives Congress (APC), candidate, Mr. Gboyega Oyetola, during the run-off election in Osun State.

But in his swift response to the suspension, Omisore argued that Afenifere by-passed the principle of fair hearing by saying that he acted at variance in his decision to coalesced with All Progressives Congress (APC) at the rerun election. Omisore noted that SDP passed a resolution to coalesce with APC in Osun, stressing that he acted in consonance with the party’s position. Omisore added that Osun SDP is not affiliate of Afenifere in any form. He also stated that he was not given any directives, adding that that it might be oversight on the part of Afenifere. Afenifere’s communique was read by Chief Korede Duyile, who was the chairman of the communique drafting committee. Other issues discussed by the Afenifere were President Muhammadu Buhari’s certificate

saga, the Nigeria’s debt profile, the state of insecurity and killings in the country, the killing of Shiite members and restructuring. While reviewing the controversy over the academic qualifications of President Buhari for the office of the President of Nigeria, Afenifere said that the controversy touches at the core of the moral fibre of the country. In view of the confusion, Afenifere said the onus on Buhari was to produce the document so as to retain his claim of being a man of integrity and being eligible to contest the 2019 elections . Afenifere also expressed concerns over the spate of general insecurity in the country in spite

of security being one of the three cardinal claims of focus by the Buhari administration. “The country has been troubled by herdsmen terrors in different communities and kidnappings across the country as well as in the abduction and killing of Agom Adara, a pregnant woman in Ondo State, the Zamfara twins Gen. Alkali and with Leah Sharibu still in the custody of Boko Haram, among many others . “We have also witnessed how Kaduna State whose Governor ,Mallam Nasiru el Rufai once boasted of paying off criminals, has become virtually ungovernable with the recent Kasuwan Magani massacre that led to the deaths of

no fewer than 100 persons and the attendant spill over crisis. “We are worried that there has been no coordinated response on the part of the federal government to these needless loss of precious lives just as it continues to ignore calls for the overhaul of the country ‘s security architecture with a restructured polity to guarantee greater security of lives and property”, Afenifere stated. The group condemned the extreme and barbaric use of force against members of Islamic Movement of Nigeria (IMN) in Abuja. “There can be no justification for the level of blood-letting that has been carried out against the

sect whose only crime has been protesting the continued detention of their leader in spite of different court orders to release him from detention . “The act of disobedience of court orders is totally reprehensible and confirms the statement by the US Ambassador to Nigeria that perversion of institutions ,which abuse of court orders typifies ,is the worst form of corruption. “We, therefore, called on the federal government to release the leader of the Shiites as ordered by different courts and ensure that the security personnel responsible for the mass killings of his supporters are brought to book.

SDP Asks Buhari to Resign over Insecurity Oghenevwede Ohwovoriole in Abuja The Social Democratic Party (SDP) has asked President Muhammadu Buhari to find a lasting solution to the insecurity crises in the country or resign. This was made know in a statement by the party’s National Publicity Secretary, Mr. Alfa Mohammed. The SDP called on President Buhari to either solve the insecurity crises in the country or resign, stating that with the wanton destruction of lives and properties across the country especially in Jos and Kaduna, it has brought to the fore the President’s incompetence in safeguarding lives and properties of Nigerians. “The incessant wanton destruction of lives and property in states across the country, especially Kaduna and Plateau States which are presently caught in a renewed violence, has further brought to the fore, the incompetence of the administration of President

Muhammadu Buhari in carrying out one of its key constitutional role of safeguarding the lives of citizens of this country. “Leaving the lives of innocent Nigerians at the mercy of frustrated, wicked and heartless men for years amounts either to total disregard for the sanctity of the lives of the citizens or lack of capacity to find lasting solutions to the crisis”, SDP said. Going further the party said the situation is unacceptable to the party as the people’s alternative choice, He added, “The situation is unacceptable to us as the people’s alternative political platform for L-R: Former Lagos State Commissioner for Information and Strategy and member of BOS Team, Mr. Dele Alake; All Progressives Congress building a safe and prosperous (APC) governorship candidate in Lagos State, Mr. Babajide Olusola Sanwo-Olu; and the deputy governorship candidate, Dr. Obafemi Nigeria. Hamzat, after a meeting with all directorates of BOSCO campaign team, in Ikoyi Lagos...yesterday KOLA OLASUPO “The Social Democratic Party (SDP) joins well meaning Nigerians and organisations to collectively condemn this dastardly acts and therefore demands that Mr. Alex Enumah in Abuja itself in this regards. He added that and launch more into the space students and they are currently President should take urgent steps Ukraine with her vast expertise and become hub for Africa in doing well. to arrest the ravaging insecurity The Ukrainian Ambassador to in the area of space technology is space development”. According to him, the number or consider stepping aside for the Nigeria, Dr. Valerii Alesandruk, ready to collaborate with Nigeria. The ambassador disclosed that of visa issued to Nigerians failure of his government to make has said Nigeria has the potential Alesandruk made the apart from space technology, his increased by 45 per cent in 2018. the country safe for the citizenry to become a hub for Africa in observation while speaking with country is desirous of deepening “In 2017 we issued 1,642 visas since he was elected for the task the area of space development, journalists in Abuja on various military cooperation with Nigeria to Nigerians going to Ukraine, over three years ago.” if she is determined to launch areas of cooperation between the to help her overcome her security among these we have 821 visas for students that wanted to study challenges. two countries. further into space. He commended Nigerians in the Ukraine. He said, “Ukraine is very good While admitting that Nigeria “In the last ten months of is not just only a big country in at space technology and Nigeria currently studying in various the African continent but also is a big country in the continent higher institutions in Ukraine, 2018 we have already issued possesses a lot of potentials and that needs to develop its space noting that out of the 3,700 2,028 visas to Nigerians and Nigerian travelers issued visas among them we have 1,193 great minds, the envoy urged the sector. In a statement by the country to endeavour to establish “Nigeria needs to establish itself in the last two years, 2014 are student visas.

SET FOR CAMPAIGN...

Nigeria Can Become Hub for Africa’s Space Development, Says Envoy

Senate: Wabara Wins Abia South APC Ticket Former Managing Director of Hallmark Bank, Marc Wabara, has been nominated as the All Progressives Congress (APC) candidate for the Abia South senatorial district. Wabara was declared winner of the recently concluded senatorial primaries by the party, while his name was also forwarded to the Independent National Electoral Commission (INEC). Following the deadline for the submission of names of senatorial candidates for the senatorial race, INEC has also unveiled the former bank chief as the APC candidate for the Abia South senatorial zone. Meanwhile, Abia Action Youths for Progress (AAYP) has lauded the APC chieftain for his victory at the just concluded party primaries.

group’s Public Relations Officer, Mr. Emeka Omenihu, AAYP urged Wabara to work hard to emerge victorious at the polls, urging all party faithful to close ranks for the battle ahead. Wabara had while declaring his intention to run, pledged to “proceed with faith, boldness, courage and decisiveness in the Red Chamber. My skills and experience will be deployed to serve our Abia South senatorial district, Abia State and Nigeria with the fear of God. If elected, I pledge to make a difference through a holistic transformation especially of Abia South. So help me God.” His candidacy received a major boost following his endorsement by the Abia South APC Caucus.

St. John’s College Alor to Celebrate Diamond Jubilee All roads will lead to Alor in Idemili South Local Government Area of Anambra State this weekend as one of the leading secondary schools in Anambra State, St Johns College Alor College celebrates her 60 years of establishment. The school, founded in 1958 through the communal efforts of Alor community and later handed over to the Irish Catholic missionaries who ran it till the outbreak of Nigerian civil war in1967 has produced many outstanding personalities. After the civil war, the school continued to make waves in the educational and sporting sectors until in 1999 when the rot and decay that

befell its management and administration in Anambra State affected it. However, through the combined efforts of the old boys association and the Anambra State Government, the school was handed back to the missionary owners who initiated a massive reconstruction and rehabilitation of the school leading to its ranking among the top five secondary schools in Anambra State. In a statement by the National President of the old boys’ association, Dr. Cyprian Afunugo, as part of the ceremonies marking the diamond jubilee

celebrations on November 2, 2018, there will be a Pontifical High Mass to be celebrated by the Catholic Archbishop of Onitsha Archdiocese, Dr Valerian Okeke, inauguration of various projects, award of Diamond Jubilee honors to distinguished old boys of the school. Among the old boys to be honored include the Minister for Labor and Employment, Dr Chris Ngige, former Director-General of Bureau Public Procurement (BPP), Emeka Momah Eze, Lagos lawyer, Chief Emeka Ngige (SAN) and the immediate past president of the school

old boys association, Chief Pan Okafor. The diamond jubilee celebration will be chaired by Chief Mark Anthony Dike, the immediate past president of Chartered Institute of Tax Administrators of Nigeria. The special guests expected to grace the occasion include, the Governor of Anambra State, Chief Willie Obiano, the Commissioner for Education, Prof Kate Omenugha and traditional rulers and politicians. A gala night preceding the grand finale of the celebration will be hosted by the Ngige family at Obi Umu-Ngige on Friday night.

WEDNESDAY OCTOBER 31, 2018 ˾ T H I S D AY

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Oando Posts N10.4bn Profit after Tax Chineme Okafor Oando Plc has posted an impressive results for the nine months period ended September 2018, with a profit of N10.4 billion, representing a 46 per cent increase, compared with N7.1 billion it recorded in same period of 2017. The feat was attributed to the continued increase in oil prices and sales volumes, Nigeria’s exemption from the production cut by the Organisation of Petroleum Exporting Countries (OPEC), capital discipline and reduced disruptions on production activities in the Niger Delta. All these, according to a statement from the oil and gas company, contributed to the improved cash flows recorded in the period under review. The company has since recovered from the effects of the oil price crash, with this being its eight consecutive

profit since 2017 and its third profit in 2018. Its peers in the sector had also posted positive results. For instance, Seplat’s profit-aftertax (PAT) stood at $91 million compared with $5 million in 2017; Total’s adjusted net income increased by 48 per cent to $4 billion compared to same period in 2017 and was 11 per cent higher than in Q1 2014 when oil prices were over US$100/bbl; while Eni made a net profit of 1.53 million euros in the third quarter of 2018. However, Oando’s 46 per cent jump in year-on-year quarterly net profits beat market expectations. Despite being in the middle of an indirect shareholder dispute which has led to a yet to be concluded Securities and Exchange Commission (SEC) forensic audit, the company recorded a 32 per cent increase in its turnover to N505.1 billion from N383.5 billion in

Church to Organise Revival Programme As part of its commitment to strengthen spiritual growth of its members, Yaba Baptist Church is set to organise the Church revival with the theme: ‘Enlarging Grace’ from October 27 to November 4, at the Church Premises, 19/3, Commercial Avenue/Raymond Street, Sabo-Yaba, Lagos, Yaba Local Government Area, Lagos State. According to the Church Pastor, Rev. Bayo Aremu, the

revival programme will begin on October 27 with a health fitness walk from the Church premises at Yaba through Ojuelegba, Alaka axis and back to the premises. He also stated that from October 28 to November 1, from 8a.m to 6p.m, there would be biblical teachings to members. He added that the revival would be concluded with a thanksgiving service on November 4.

comparative period of 2017, driven by higher commodity prices; while its gross profit grew by nine per cent to N77.6 billion from N71.2 billion in 2017. Speaking on the company’s financials, the company’s Chief Executive, Adewale Tinubu said: “Today’s positive result is further evidence of the progress made by Oando in 2018 driven by our continued focus on execution and operational efficiency, supported by buoyant commodity prices.” The statement added: “Thanks to good operational efficiency, these resultsconfirm Oando’s ability to take full advantage of the improved macro environment to deliver on key corporate imperatives of increased revenues and profit to create value for her shareholders. “As the year draws closer to an end the management of Oando must be applauded for their dedication to keeping the company on course by delivering yet another consecutive quarter of strong financial performance. “In the exploration and production sector, Oando’s upstream subsidiary, Oando Energy Resources made a stellar

performance as it benefited from the ramp-up of higher margin production resulting in a 45 per cent increase in realized crude selling price compared with the same period in 2017.” According to the statement, performance was further buoyed by sale price increases of six per cent for Natural Gas Liquids and 31 per cent for natural gas deliveries. In the downstream, Oando traded over 10 million barrels of crude oil and ensured petroleum products efficiency through the importation of 445,483MT of refined products. An improved cash flow led to a reduction in the Group’s total borrowing with a reduction in total borrowing from N237.4billion in the nine months ended September 2017 to N227.1 billion in the same period of 2018. These numbers further reinforce the success of Oando’s ongoing initiatives to create value for stakeholders, and drive sustainable growth. Commenting further, Oando’s Group Chief Executive said “The outlook for the remainder of the year is positive and we remain committed to delivering on our

value-based strategy towards improving our liquidity by reducing our gearing, improving our profitability by increasing production, and achieving growth via strategic alliances.” Oando’s continued positive results and corporate initiatives reinforce the company’s focus on redefining the role of independent players as vital in supporting the socio-economic growth of the nation. In 2018, the company has been particularly active in showcasing to its stakeholders the output from its day to day operations as well as the positive impact it is having in the communities it operates in. In the third quarter of this year the company in partnership with its Joint Venture partners commissioned a 20,000 gallon water scheme for the over 5,000 residents of Agbere Community, Bayelsa State, in the process reducing the number of Nigerians without access to clean portable water. In the same vein in the Aggah community in Rivers State the company commissioned asphalt road and drainage projects, alongside their JV partners, NNPC & NAOC. Other

community projects commissioned include roads and drainage in Irri Community, Isoko South Local Government Area of Delta State and in the Oguta Community, Imo State. More recently in line with the company’s commitment to Nigerian Content Development, they ran in collaboration with their JV partners, NAOC and NNPC a series of content development workshops in Yenagoa, Bayelsa State. These workshops, carried out in partnership with the Nigerian Content Development Monitoring Board (NCDMB), focused on compliance best practices, procurement regulations and business financing strategies to help improve the quality of output from local contractors as well as the promotion and development of in-country capacities for the industrialization of Nigeria. Speaking on the future outlook for the company, Tinubu explained that the company would build on this performance in the coming quarter as well as step up organic and inorganic development activities across its existing portfolio.

A’Ibom Hires Canadian Firm to Manage Ibom Hospital Okon Bassey in Uyo The Akwa Ibom State Government has contracted the running of the Ibom Specialist Hospital in Uyo, the state capital, to a new management consortia, Clinotech

Turnkey and management Limited of Canada. Clinotech Turnkey, a member of Clinotech group, was selected among nine world class and international groups or consortiums from United Arab Emirate (UAE),

Germany, Canada and United States of America that indicated interest or applied to run the specialist hospital. The state Commissioner for Health, Dr. Dominic Ukpong, who disclosed this yesterday during an interview with journalists in his

office, said the state government decided to choose Clinotch Turnkey because of their general expertise in the management of health facility of that magnitude after appearing with others for series of interviews and interactions.

WEDNESDAY OCTOBER 31, 2018 ˾ T H I S D AY

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Canadian Governor-General, Ambode Unveil Lagos Biobank Lab The Governor-General of Canada, Hon. Julie Payette and Lagos State Governor, Mr. Akinwunmi Ambode, yesterday, jointly unveiled a Biobank Laboratory in Lagos designed to ensure effective management of outbreak of infectious diseases with special focus on containment and strengthening of capacity to prevent, detect and respond to all manner of threats. The Biobank, which is located within the premises of Mainland Hospital, Yaba, was delivered through a partnership between Lagos State Government and the Canadian government which contributed a total of $4.5 million to the project. Speaking at the unveiling ceremony, Payette said the partnership was underscored by the West Africa Ebola outbreak

which brought the need for countries to intensify cooperation and coordination to prevent the spread of diseases and to effectively counter epidemics to the fore. She specifically commended the State Government and those who worked hard to contain the 2014 Ebola outbreak in Lagos, saying the facility would better equip the State to mitigate post-Ebola threats, among other threats of diseases. According to Payette: “I must say I had a thought knowing that we were coming here to open such an important facility; a facility to prevent, detect and respond to about the worst calamities possible outcomes that could happen. “The incidence of infectious disease if not contained could do so much damage and could ravage so many lives. It is not important,

it is absolutely essential to have a facility like this to make sure that it never happens. “As serious as the outbreak was here in Nigeria and elsewhere in West Africa, it could have been much more or worse and so, Canada is very glad to have filled that gap with you with this laboratory and Bio-bank,” she said. Speaking further, Payette assured that her country

would continue to partner with the Nigerian government to contain infectious diseases and other treatments, noting that Ebola was still a deadly disease worldwide. “We will continue to collaborate with you in this important effort; we also work in Canada in our microbiology laboratories to contain other infectious disease and still working on Ebola and other

treatments. The disease is very deadly still, we have experimental treatments that are now coming up so that the possibility that we can cure or treat diseases better is in front of us and we have to continue toward that goal so that diseases like Ebola does not anymore mean a death sentence,” the Governor General said. On his part, Governor Ambode said delivery of the project was a

perfect example of a forward-looking and community-development collaboration undertaken by Lagos State Government and the Canadian government, adding that with the facility, the public healthcare delivery in the State had moved to higher level. “With this Biolab, I want to publicly admit that public healthcare in our State has been raised to another level and it is to the benefit of our people.

Kwara APC Crisis: Elders’ Council Wants Ex- FCC Chairman Sanctioned over Anti-party Activities Hammed Shittu inIlorin Crisis over the emergence of the governorship candidate of the All Progressives Congress in Kwara State, Alhaji Abdulrahman Abdulrasaq, yesterday continued unabated as the elders council of the party asked the leadership of the party in the state to sanction former Chairman of Federal Character Commission (FCC) and one of the aggrieved aspirants of the party, Professor Shuaib Oba Abdulraheem, for allegedly embarking on anti-party activities which it said may hinder the success of the party ahead of the next year general election. The elders of party accused Abdulraheem of making comment at Ilorin International Airport last Sunday that the party is yet to endorse Abdulrasaq as the governorship candidate of the party for the forthcoming elections in the state. Abdulraheem, who spoke at Ilorin International airport on his arrival from Abuja on the insinuations that other aspirants have been asked to support Abdulrasaq as the governorship

candidate of the party at the meeting of all the aspirants of the party with President Muhammadu Buhati in Abuja, said: “Nobody said anything of such.” In his reaction, Abdulraheem, described the call for his sanction as uncalled for, saying he made no anti party remarks but only stated the truth of what transpired at the meeting with President Buhari in Abuja. He said: “I did not make any anti-party comment in my remarks. What I said is that there was no endorsement of any candidate by President Buhari during our meeting with him is the truth of what transpired at the meeting. I also repeated it that my supporters and I would remain in APC.” Speaking at a press conference in Ilorin, the spokesperson of the elders council of the party, Senator Muhammed Ahmed, said: “Since President Buhari and the leadership of the party led by Adams Oshiomnhole has held a peace meeting with all the aspirants and directed them to support Abdulrasaq, no aspirant has made any further comment on the issue.”

Army Takes Delivery of Ammunition

Says Shi’ite taking orders from Iran

Kingsley Nwezeh Nigerian Army yesterday took delivery of a large consignment of ammunition after it had clashed in several locations in Abuja with the Shiite Islamic sect, leading to the death of 17 sect members while some soldiers were wounded. A military source told THISDAY last night that the underlying fact in the clash bordered on the fact that the sect was taking orders from Iran. “Shiite Islamic sect is from Iran. Iran wrote the federal government to release Zakzaky, their leader. They are making sure that he (El Zakzaky) doesn’t obey the laws of Nigeria. “Nobody went after them. They are the aggressors,” the source said. Competent military sources

had told THISDAY that the major challenge facing the military in the fight against insurgency was government’s inability to buy weapons. The source had blamed the development on the monthly report filed by Amnesty International to western countries, urging them not to sell weapons to Nigeria over its poor human rights records. “The 12 Tucano aircraft that US sold to us - has anyone bordered to ask why those aircraft would be delivered in 2020?” he queried. Meanwhile, the army, last night tweeted that Nigerian Army received a large consignment of ammunitions. “The Nigerian Army has received a shipment of ammunition to further enhance its operational capabilities and combat efficiency.”

MINIMUM WAGE IN THEIR MINDS...

L-R: Edo State Governor, Mr., Godwin Obaseki; Kebbi State Governor, Abubakar Bagudu; Plateau State Governor, Simon Lalong; Minister of Labour and Employment, Dr. Chris Ngige; and Osun State Governor, Rauf Aregbesola, during the meeting between state governors and the federal government over the new minimum wage in Abuja...yesterday

Police Give One-month’s Grace to Commence ‘OperationVelvet’ Rebecca Ejifoma The Lagos State Police Command has suspended the ongoing operation velvet for a period of one month with effect from October 30 to enable vehicles and motorcycles’ owners time

to regularise their documents. The operation, which aimed at enforcing all relevant traffic laws to restore orderliness on the roads was put on hold for a period of one month based on the appeal of the state Governor, Akinwunmi Ambode, and members of the state

House of Assembly. “However, the police command wishes to warn all road users that the grace period should not be interpreted as a period of lawlessness on the roads. It is a time allowed to get the vehicle documents and necessary permits together,” the

state police spokesman, CSP Chike Oti, said. According to him, the Command further warned that it would continue to enforce laws against driving on BRT lanes, parking at unauthorised places thereby causing gridlock, and driving against traffic.

NCDMB, Indigenous Oil Producers Sign Agreement on Tendering Cycle The Nigerian Content Development and Monitoring Board (NCDMB) and the Indigenous Petroleum Producers Group (IPPG), have signed a Service Level Agreement (SLA), which would drive local content implementationandsimplify theprocurementandtenderingprocesses for oil and gas projects. TheExecutiveSecretaryofNCDMB, Mr.SimbiKesiyeWabote,andtheagency’s General Manager, Projects Certification andAuthoriSationDivision(PCAD),Mr. Paul Zuhumben, signed on behalf of the Board at a ceremony held yesterday in Lagos.

The Chairman of the IPPG, Mr. Ademola Adeyemi-Bero, and the Managing Director, Newcross Petroleum Limited, Mr. Victor Sodje, signed for the operating companies. The SLA was developed by the two parties in line with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and in sync with the Board’s 10-Year Strategic Roadmap. The Executive Secretary said the SLAwould enhance the reduction of contracting timelines to six months to meet the target set by the Minister of State for Petroleum

Resources, Dr. Emmanuel Ibe Kachikwu. The agreement with the IPPG is the third in the series. The Board had executed similar pacts with the Nigeria Liquefied Natural Gas (NLNG) and the Oil ProducersTrade Section (OPTS) - the umbrella body of major oil producing companies. “This initiative was the first between a regulator and its key stakeholders in the Nigerian oil and gas industry,” Wabote added. According to him, the SLA

initiative has been very effective since its introduction in May 2017. “It has enhanced the efficiency of the interface between the Board and industry operators. The example can be seen in the swift execution of some contracts in the oil and gas industry such as the LPG vessel supply contract awarded by NLNG, the NLNG Train-7 project, and several other contracts put in place by the international operating companies under the umbrella of the SLA signed with OPTS.

Kogi Women Plan 1.2 million-man March for Atiku Adedayo Akinwale inAbuja The Peoples Democratic Party (PDP) women in Kogi State have announced their plan to stage a 1.2 million-man march in support of the PDP’s presidential candidate, Atiku Abubakar. This is just as the party has announced the streamlining of all its presidential support and volunteer groups across the country to ensure a centralised activity under the supervision of the party and the Presidential

Campaign Council. PDP National Publicity Secretary, Kola Ologbondiyan, who received a delegation of the presidential women support group, Success Initiative Women for Atiku, at the PDP national secretariat in Abuja yesterday, stated that the party has opened strategic platforms for all support groups to directly participate in the campaign. Ologbondiyan said that Nigerians are eager to vote for Atiku Abubakar due to his proven national and international connection and

capacity for wealth creation, massive employment opportunities for the youths, as well as ability to engender national cohesion and unity among the people. He stated: “PDP has received unprecedented goodwill and support from millions of Nigerians across all sections of the country, irrespective of ethnicity, religious and political leaning, since the emergence of Atiku Abubakar as our Presidential candidate.” “Today, Atiku Abubakar has the

highest demography of support and volunteer groups across the nooks and crannies of our country. The support we are receiving is monumental.” He explained that the PDP has already created critical engagement platforms to coordinate all its activities, adding that all its campaign strategies, policy direction, programmes and promise to Nigerians will be streamlined through the party to ensure effectiveness and responsibility.

THISDAYtWEDNESDAY OCTOBER 31, 2018

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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Nigeria Loses Places in Africaâ€™s Club Competitions LATEST CAF FIVE YEAR CLUB RANKINGS (FOR THE 2018-19 EDITIONS) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12.

COUNTRIES WHO HAVE HAD TWO TEAMS IN THE ANNUAL CAF COMPETITIONS

Tunisia Egypt DR Congo Morocco Algeria South Africa Sudan Zambia Libya Ivory Coast Cameroon Mozambique

Nigeria has lost the right to enter two clubs for each of the annual African club competitions after years of poor results. The Confederation of African Football (CAF) confirmed to the BBC yesterday that just one club from Nigeria will be entered into the next Champions League and Confederation Cup. However for the first time in eight years Libya will be able to enter two teams per competition. The increase comes despite Libyaâ€™s domestic league being in turmoil because of the countryâ€™s security problems and their clubs being forced to host continental club competition matches at venues outside of the country, It comes as Nigeria has fallen out of the top 12 of

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Nigeriaâ€™s last team standing in CAF competitions this season, Enyimba FC, was knocked out of the semi ďŹ nal stage of the Confederation Cup by Moroccoâ€™s Raja Casablanca

the CAF rankings of club competition results over the last five years while Libya is up to ninth. The system is used to determine which countries get an extra side in the two continental club competitions. Nigerian clubs have struggled in both competitions over the last five years aside from Enyimba who reached the Confederation Cup semi-finals this year.

NigeriaTransfer Window to Close December 20 Olawale Ajimotokan in Abuja The transfer window of the domestic club football in the country which opened on October 20 is scheduled to end on December 20 even as no date has been fixed for when the Nigeria Professional Football League will commence. The Manager of Nigeria Football Federationâ€™s Transfer Matching System, Nasiru Jubril, confirmed the dates yesterday even as he admitted that there is a limitless window for registration of players who have been capped at least five times by any of the national teams. â€œThe window for transfer of players opened on October 20, and it will close on December. That is the first window for the 2018/2019 Season. There will be a second window, as from 30th January 2019 until 28th

February 2019. â€œIt is only within these periods that players can be registered/transferred locally, and from other countries to Nigeria. However, players are free to move from Nigeria to other countries as long as the windows in those countries are open,â€? Jibril announced on NFFâ€™s official website yesterday. However, the former Nigeria international agreed that there are exceptions to the rule. â€œInternationally, exception is granted to professional players who are out of contract before the window must have closed or before the window opens for registration. â€œLocally, exception is granted by the League Management Company to players who have featured for any of the national teams, with no less than five caps.

A F TE R Y E A RS OF P OOR RE S ULTS The points that Enyimba earned could see Nigeria back with two teams for the 2019-2020 editions. But for the next tournaments, which are set to begin at the end of November, Mozambique will have two sides in each for the first time. Cameroon is once again allowed two clubs in each

FIFA Bans Former Ghana FA Boss, Nyantakyi, for Life One of African footballâ€™s most powerful figures Kwesi Nyantakyi has been banned from the sport for life for breaking bribery and corruption rules. Ex-Ghana Football Association (GFA) president also broke conflict of interest rules, FIFA announced yesterday.

able to welcome a couple of the 19 overseas â€“based professionals invited to the camp, which gradually moves into intensive stage during the week with a final list expected before the team jets out of the country. Meanwhile, Chairman of the NFF Women Football Committee and a ranking Member of the House of Representatives, Hon. Hulayat Ayo Omidiran visited the team camp on Monday and charged the girls to prepare well and hard for the challenge of defending

Footballâ€™s world governing body launched an investigation after Nyantakyi was pictured taking $65,000 from an undercover reporter. FIFA fined Nyantakyi 500,000 Swiss francs (ÂŁ390,000). Nyantakyi was also vice-president of the Confederation of African Football and a member of

the FIFA Council. He stepped down as GFA president in June after film of him allegedly accepting a â€œcash giftâ€? was made public. The film was captured by journalist Anas Aremeyaw Anas and BBC Africaâ€™s investigations unit, Africa Eye, received exclusive access to the footage.

Nyantakyi later resigned his CAF and FIFA posts but claimed the footage had been doctored to falsely incriminate him. The adjudicatory chamber of FIFAâ€™s ethics committee said the ban for life applied to â€œall footballrelated activities at both national and international levelâ€?.

Zenith Bank/Delta Principalâ€™s Cup Begins inAsaba As part of the continued effort to identify and coach the best young footballing talents in Nigeria, MTN Nigeria and top Premier League club, Arsenal Football Club, held a three-day coaching clinic for 128 young players and 30 coaches between October 26 and 28, 2018 at the Legacy Pitch of the National Stadium, Surulere, Lagos. The clinic provided

Super FalconsTackle Dominion Hotspur in Friendly The senior women national team, Super Falcons, will on Thursday test strength against Dominion Hotspur FC, a boysâ€™ team based in Lagos, in its first friendly match ahead of next monthâ€™s 11th Women Africa Cup of Nations. Head Coach Thomas Dennerby sanctioned the friendly, as the eighth-ime African champions began the second phase of camping on Monday at the magnificent Jubilee Chalets and Resort, Epe in Lagos. Already, Dennerby has been

event, after they had just one entrant in each of the 2018 editions. It means Congo, Mali and Nigeria, who had an uninterrupted run since the double entry was first introduced by CAF in 2004 lose out. Only Algeria, the DR Congo, Egypt, Morocco and Tunisia have consistently kept

up the right to two teams. For the 2018-19 competitions, the five are joined by Cameroon, the Ivory Coast, Libya, Mozambique, South Africa, Sudan and Zambia. The final of the 2018 Champions League between Egyptâ€™s Al Ahly and Tunisiaâ€™s Esperance is set for this Friday with the second leg a week later. DR Congoâ€™s AS Vita Club is to take on Moroccoâ€™s Raja

Casablanca over two legs in the final of the Confederation Cup at the end of November. The 2018-2019 editions of the competitions begin immediately after that final and will be squeezed into just six months to accommodate the switch in timing of the annual continental club tournaments. The 2018 editions mark the last time the competitions are played inside a calendar year - from next year they will start in August and finish in May the next year.

their continental crown. The Falcons are drawn to play South Africa, Kenya and Zambia in Group B of the 11th Women Africa Cup of Nations, with Cape Coast as venue, starting with an opening encounter against the Banyana Banyana on Sunday, 18th November. Nigeria emerged champions of the biennial continental house-party in 1998, 2000, 2002, 2004, 2006, 2010, 2014 and 2016, defeating hosts Cameroon 1-0 in the final of the last edition in December 2016.

the young talents with the necessary technical support, knowledge and skillset required to thrive at international level, as well as empowered local coaches to build better teams and develop better stars. Speaking on the coaching clinic and the companyâ€™s partnership with Arsenal, MTNâ€™s General Manager, Brands and Communications, Richard Iweanogie

said, â€œLike all Nigerians, our love for the beautiful game continues to grow with every new season. We are also passionate about developing the game in Nigeria, which is why we are pleased to work with Arsenal (one of the very best teams in England) to make this happen.â€? He further reiterated that with the coaching clinic â€œMTN hopes to raise

future Nigerian stars that will be the next Alex Iwobi, Nwankwo Kanu or Lionel Messi and make their mark at the world stage.â€? The coaching clinic featured both theoretical and practical sessions facilitated by Arsenal Soccer School coaches and Arsenal legend, Lauren, who was a member of the famous â€œInvinciblesâ€? team that won the Premier League title in 2004.

MTN Partners Arsenal to Promote Grassroots Football in Nigeria As part of the continued effort to identify and coach the best young footballing talents in Nigeria, MTN Nigeria and top Premier League club, Arsenal Football Club, held a three-day coaching clinic for 128 young players and 30 coaches between October 26 and 28, 2018 at the Legacy Pitch of the National Stadium, Surulere, Lagos. The clinic provided the young talents with the necessary

technical support, knowledge and skillset required to thrive at international level, as well as empowered local coaches to build better teams and develop better stars. Speaking on the coaching clinic and the companyâ€™s partnership with Arsenal, MTNâ€™s General Manager, Brands and Communications, Richard Iweanogie said, â€œLike all Nigerians, our love for the beautiful game continues to grow with every

new season. We are also passionate about developing the game in Nigeria, which is why we are pleased to work with Arsenal (one of the very best teams in England) to make this happen.â€? He further reiterated that with the coaching clinic â€œMTN hopes to raise future Nigerian stars that will be the next Alex Iwobi, Nwankwo Kanu or Lionel Messi and make their mark at the world stage.â€?

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NBA: Klay Thompson Sets Three-point Record

Nigeria Can Win the Next World Cup

Klay Thompson celebrating his NBA three-pointer record on Monday night

Golden State Warriorsâ€™ Klay Thompson broke team-mate Steph Curryâ€™s NBA record for three-pointers in a single game in a win over the Chicago Bulls on Monday night. The 28-year-old shooting guard scored 14 three-pointers in a 52-point performance during a 149-124 victory. Curry, 30, held the previ-

ous record of 13, achieved in November 2016 against New Orleans Pelicans. â€œI was so anxious because any time thereâ€™s an NBA record at stake, you get a little nervous,â€? said Thompson. â€œIâ€™m just so blessed to play with the guys that I do. It was an amazing night Iâ€™ll hopefully never forget.â€? Thompson gave a hint

Teams Leadway Assurance, Offikwu Secure Sâ€™final Spots Lagos-based Team Leadway Assurance and Team Offikwu with Kaduna as their home base, have secure semi-final places from the Blue Group in the ongoing NCC Tennis League. The two teams, top seeds in the group, are by their semi-final qualification guaranteed a minimum of N2 million which is the prize for the fourth place finisher. Team Offikwu playing against Team Luik of Lekki - Lagos over the weekend, dropped a match when Christian Paul retired against Chima Michael in the menâ€™s reverse singles. Team Luik also came close came close to taking another match in the ladiesâ€™ singles where Christie Agugbom, immediate past womenâ€™s champion, narrowly defeated Ronke Akingbade 6-4, 3-6, 10-8 but the star-studded team featuring four national champions were comfortable

6-1 overall winners at the end. It was, however, an easier ride for Team Leadway Assurance which overran the Jos-based Team SBL 7-0. With three points and a massive win - loss credit, Team Leadway Assurance is assured of a semifinal place no matter the outcome of their final group match against Team Luik in Lekki this weekend. Team Offikwu already has four points and will take on Team Yetade of Ekiti in their final group match. The semifinal places in the White Group are going down to the wire as three teams Team Tech Vibes of Jos, Team Kalotari of Port Harcourt and Team Goshen of Ilorin - face the possibility of ending with four points and having the two semifinal places decided by the difference between total matches won and lost.

of what was to come in the opening quarter when he scored 22 points to help the reigning NBA champions to a 44-28 lead. By half-time the Warriors had increased their advantage to 42 points as they led 92-50. Thompson drew level with Curryâ€™s record in the third quarter before breaking it with five minutes remaining, and

later revealed his team-mate had encouraged him to do so. â€œBefore I went out for the second half, Steph just looked at the box score and said â€˜go get itâ€™,â€? Thompson said. â€œThat shows the unselfishness thatâ€™s within him.â€? Curry holds the NBA record for most three-pointers in a season, netting 402 in 2015-16.

Bloombreed, Archdeacon Brown Top Loya Swimming Meet Bloombreed High School and Archdeacon Brown Education Centre, both of Port Harcourt have emerged top winners of the Rivers State edition of Loya Milk Swim Meet Season 3 which held in Port Harcourt recently. Bloombreed, which hosted the inter-school swimming contest, put up a tough fight to pick three gold, two silvers and a bronze medal while its closest rival, Archdeacon Brown won two gold, two silvers and a bronze medal. Archdeacon Brown beat Bloombreed to the coveted 100 metres relay for boys, a feat some officials said may have dwarfed the extra gold medal received by the latter. Laurels Model College and Brookstone School also won medals in the events entered for by 10 Port Harcourt-based schools. The schools included

GoldSpring High School and Holy Cross International School. Others were Emmy Norberton International School, Hopespring Foundation School, Montessori International School, Seal Model School and Tender Heart Academy. The yearly inter-school competition is sponsored by Loya Milk, the premium brand of Promasidor Nigeria Limited. The competition was officiated by members of the Nigeria Aquatics Federation. The Brand Manager (Loya Milk), Oluwaseyi Aderibigbe explained that just as swimming helps to rejuvenate human system and enhance physical fitness, Loya Milkâ€™s 50% More Calcium unique fortification helps consumer attain optimum physical wellbeing by helping them build stronger bones, tougher teeth and healthy heart.

Almat LCC Wears Emir of Katsina Cup Crown Abuja Almat Group LCC polo team has maintain its winning run this year at the just concluded Kaduna Centenary Polo Tournament, clinching the coveted Emir of Katsina Cup on first attempt. Team patron, Maurice Ekpenyong and his big boys, achieved the sensational feat that saw them trounce crowded field of four ambitious teams, before overwhelming Kaduna Y.Y / Kangimi 9-71/2 in a fiercely fought final game to emerge champions. Almat Group LCC polo team galloped off early January with the Niger Delta Polo Festival in Port Harcourt, where Maurice and his top running Almat squad hit the ground running in a grand style, winning the prestigious Governorâ€™s Cup.

Almat players (black jerseys) leading polo play during the Emir of Katsina Cup battle last weekend

KADUNA C E N TE N A RY P OLO Before hitting this historic hard trick, Almat had a week earlier, achieved a double, stunning all comers to defend the General Hassan Cup for the third year running and powered to their first Kangimi Cup victory at the 2018 African Patrons International Tournament at Fifth

Chukker & Country Resort in Kaduna. Rated outsider by pundits in the Emir of Katsina Cup that pitted three Kaduna-based teams, Sublime, YY Kangimi, Barbedos and two visiting teams, Kano Titans, Lagos A-Plus and of course, Almat as Abuja big boys

had only self-belief to count on. This ultimately proved to be the centenary biggest surprise, as Ekpenyong and his Almat Tigers namely, AlMalik Badamasi, Idris Badamasi and chief predator, Manuel Crespo stunned home crowd favourites, Kaduna Sublime in their opening game and edged Lagos A-Plus in the semis, to book final ticket in the royal polo prize in the century old polo carnival. Winning must be exhausting for the financial advisory expert and his Almat warriors, and no one has been more proficient at it. Even more stunning is that Almat Group is making it look easy, although getting through group games to the finals at all tournaments they participated felt as heavy as walking through beach sand.

I am not under any illusion about our ability as a football-playing nation. In Africa we still cause some jitters. My Ghanaian taxi driver friend can no longer derogate the Super Eagles. Now, during our long distance phone discussions all he talks about is the decline of football in his country. I have not done a check but I believe we have more people playing football than anywhere else in the World! I have a funny feeling that our children know about football in the womb. Unlike in Brazil, India, and the USA, football is the number one sport, the number one passion in our country. We have subsequently done very well in global football competitions, winning the FIFA Under- 17 tournament a record five times! Our womenâ€™s team is the best in Africa and one of the best in the World. Not many know it but our Super Eagles introduced hustling to world football in 1994 when we played at the World Cup for the first time. According to Newsweek magazine, the type of football we brought to the World Cup was refreshingly different in the strength, sheer athleticism and hustling displayed by our players. So, just like Arsenal taught England how to play beautifully, sexy football, we brought hustling to football. Since our first appearance in 1994, we have qualified for the World Cup six times. Getting to the second round four times. Each time the world looks out for the magic that could come from our country and we really have not been able to bring this magic on except when on June 13, 1998 we defeated Spain 3-2. Before that time, Spain was the team to beat having been unbeaten in 18 previous matches. Since that time, our team has failed to really sparkle. Putting up average performances that invariably saw them not meeting up with its giant killers tag of 1994 and1998. This year in Russia, we had a bad World Cup. Let no one fool you. We had the youngest team that naturally was short on experience. But our coach could not maximize our strength. The Croatians forced their pattern on us thereby preventing the Super Eagles from playing to their potentials. We lost 0-2.

Technical ineptitude and a useless VAR ensured we lost to an Argentine team that had no business beating us! The wonder is that despite our poor results from our pre -World Cup matches our coach was unable to re-gig and create a team that would play to its strength. But all these are in the yesterday of our life. I believe if we work hard and stay focused we can win the next World Cup in Qatar in 2022. We currently have the players who should have matured considerably by the next World Cup. We may not be relying on the speed of Odion Ighalo at that time but the bulk of the young guns we currently have would have matured considerably. Similarly, I expect that the coach would find and sustain enough competition for places in the team. There are many players outside the squad at the moment who should occasionally be invited to compete for places. Our squad to next yearâ€™s Africa Cup of Nations should include two or more first timers to the team who would expectedly blossom by 2020/21. We should strive to retain the template we had while preparing for the last World Cup in Russia by ensuring that the welfare of the players received utmost attention from our football federation. If we are retaining Gernot Rohr till 2020, an indigenous coach must be employed now not only to assist him but should be upgradeable to take over from him for the 2022 World Cup. I have a firm belief that it is only a Nigerian coach in the mould of a matured Sunday Oliseh that can take us to the semi-finals of the World Cup and beyond. The situation we must create should be one that would dovetail into achieving our nationâ€™s full potential in football. To this end, I believe our coach must be given a free hand but must be encouraged to discuss in details with a technical committee made up of seasoned coaches, journalists and ex-players. The body must not be more than nine. In the interim the NFF must concentrate on our age group teams that will serve as a feeder team to the senior national team. All considered, we must, like a one time Chairman of the NFA, Group Captain Tony Ikhazoboh, once suggested, not only make qualifying for the Cup of

Wednesday October 31, 2018

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Ezekwesili to Buhari

“What is the primary legacy of President Muhammadu Buhari? It is the destruction of our nation’s wealth, presiding over the worst economic recession Nigeria has seen in decades. And in the midst of this, his vice-president was celebrating last week at the Nigeria Economic Summit that handing bailouts to state governors to pay salaries is an achievement. What a big shame” – Presidential candidate of the Allied Congress Party of Nigeria, Oby Ezekwesili, berating the President Muhammadu Buhari-led administration for shielding corrupt individuals in his cabinet.

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The Ibrahim Index of African Governance Questions you cannot answer are usually far better for you than answers you cannot question – Yuval Noah Harari

here is one thing that makes the Mo Ibrahim Foundation undeniably different; it is a courageous African response to governance problems facing the continent. The founder and chair of the foundation, Mr. Mo Ibrahim, deserves all the commendation for putting his money where his mouth is, as they say. The Sudanese – British billionaire has been squaring up intellectually to the demon of poor governance in Africa in the last 10 years. The resonance of Ibrahim’s categorical intervention is felt yearly in the debate about “good governance” in Africa when the governance index is released and the winner of the $5 million – worth leadership ward is announced. Two days ago, the 2018 Ibrahim Index of African Governance (IIAG) was launched by the foundation, ranking the 54 African countries on the basis of clearly defined indices. For clarity, the 2018 index actually takes a view of governance in the last 10 years. Although Nigeria is rated 33rd out of 54 African countries, there is a general streak of optimism for governance on the continent running through the report. Despite Nigeria’s poor overall ranking, it is remarkable that the country is noted in the report to have recorded remarkable improvement in gender equality in the work place. As Ibrahim himself observes, governance in Africa is “on average, slowly improving” with about three out of four African citizens living “in a country where governance has improved over the last ten years.” According to the foundation, governance means, “the provision of the political, social and economic public goods and service that every citizen has the right to expect from their state, and that a state has the responsibility to deliver to its citizens.” In making the assessment, the dimensions explored include sustainable economic opportunity; participation and human rights; transparency and accountability and safety and the rule of law. Multiple sources provided the data, which the foundation experts processed in order to come up with their verdict. No matter the criticism of the report that you may have, it cannot be denied that the brief has been executed with tremendous courage in the last 10 years. The advocacy for “good governance” became prevalent especially in Africa and other parts of the underdeveloped world after the Fall of the Berlin Wall in 1989. Consequently, the socio-political landscape got engulfed with the triumphalism of liberal democracy. The wave of “democratisation” was also felt in Africa. So the prescription of the fundamentals of market economy are usually accompanied with the drive for “good governance’ by the West and their powerful financial institutions. As a matter of fact, before then the dominant phrase in development debates in Africa was “people-centred development” as envisioned in the 1980 Lagos Plan of Action. Experts talked of the basic needs in education, health, jobs, food, housing etc. By the way, this was a plan drawn up at the initiative of African governments and people’s organisations themselves. It was meant to be an African answer to an African question. Eminent scholar, Professor Adebayo Adedeji, who passed on earlier in the year, was an intellectual pillar of that plan. Before then, Adedeji was a minister of economic planning in the regime of General Yakubu Gowon. However, few years later the ruinous Structural

Mo Ibrahim Adjustment Programme (SAP) was imposed. The “good governance” slogan became the political accompaniment of SAP. And Africa has not fully recovered from the ruins of SAP more than 30 years after the wild socio-economic experiment. The point being made here is that “good governance” is actually an ideological euphemism for the “people—centred development.” Pray, for whom is governance good? This is the question that development experts and technocrats often ignore. Yet, the reality of every day life is that there is a class character to economic development and political governance. After all, from the

perspective of the elite, building a needless airport in a backward state where rural roads are not motorable and potable water a luxury is “development.” But that is not “people-centred development.” The courage embodied in the Ibrahim Index is that three decades after African countries claimed to have found answers to underdevelopment through neo-liberal economic pills and good governance, a man of African origin with the means is scientifically questioning the efficacy of the answers. After all, as the historian, Yuval Noah Harari, puts it, those ‘”questions you cannot answer are usually far better for you than answers you cannot question.” Therefore, the professed answers to the developmental questions should also be questioned. The Mo Ibrahim Foundation conducts a yearly examination in this respect. The examination is clinical. Despite the optimistic tinge in the report, the result is worrisome. Well-known truths about the African condition are honestly affirmed in the report. For instance, it is recorded that that there is hardly any progress in welfare and social protection while education is tragically on the decline. Here, the problem begins with basic education. Shamefully, there are millions of children of school age who are out of school mostly in Nigeria. Poor nutrition and joblessness are other low points in the report. When you add population growth to these poor human development indices, the picture becomes grimmer. This picture is painted on a case-by-case basis for each country in Africa. This year’s cumulative result of 10 years of

assessment is, therefore, worth studying critically by those concerned with the theory and practice of development in Africa. That is why more scientific initiatives should be welcome to interrogate the economic development policies and liberal democracy on the on the continent. Taking a broad view of the quality of governance in the last 10 years, what the 2018 Index says specifically in respect of Nigeria should be instructive to those in charge of governance at all levels as well as those seeking power at present. Concomitantly, the short history of the Mo Ibrahim Prize for Achievement in African Leadership has also sent some coded message to Nigeria. The $5 million prize is awarded yearly to a former executive African head of state or government who is adjudged by the foundation to have been a good example of governance while in office. To be qualified the former head state or government must have been elected into office. Yet no former president of Nigeria has won the prize. Nelson Mandela of South Africa won the prize in 2007. Other past winners are Joaquim Chissano (Mozambique), Festus Mogae (Botswana), Pedro De Verona Pires (Cape Verde), Hifikepunye Pohamba (Namibia), and Ellen Johnson Sirleaf (Liberia). The index and prize should interest Nigerians especially in this season that development issues ought to be widely discussed. After all, the themes from which the index is calibrated are of those issues Nigeria is contending with at the moment. These include the issues of poverty eradication, popular participation, security and genuine freedom.

Labour as Watchdog for the Economy Femi Falana Industrial unions in the oil sector can play a role in re-fuelling the Nigerian economy. However, we should realise that the Nigerian economy cannot be seriously re-fuelled as long as it is controlled by imperialism through the International Monetary Fund and World Bank. This is compounded by the refusal of successive Nigerian governments to recover royalties running to billions of dollars from oil companies and the proceeds of crime from some shipping and oil companies that have stolen several millions of crude oil from Nigeria. In June 2015, I wrote a letter to the Management of the Nigerian National Petroleum Corporation (NNPC) demanding that urgent steps be taken to implement the Production Sharing Contracts entered into between the Federal Government and the Oil Majors. Under the PSCs a review of royalty in favour of the Federal Government was required to be carried out whenever the price of crude oil was sold above $20 per barrel in the international market. The contracts were anchored on the provisions of the Offshore and Inland Sharing Contracts Act. The request was ignored. I also requested the National Assembly to review the Act with a view to amending some of the provisions. The request was equally ignored. Disappointed but undaunted, I continued to mount pressure on Authorities in Abuja. Based on such pressure, the Minister of State in the Ministry of Petroleum Resources, Dr. Ibe Kachikwu, was compelled to disclose that the nation had lost a whopping sum of $60 billion due to the non-implementation of the production sharing contracts by some unnamed

public officers. Embarrassed by the disclose, three oil- producing states namely, Akwa Ibom, Bayelsa and Rivers decided to file a suit at the Supreme Court wherein they sought to compel the Federal Government to enforce the production sharing contracts. In a historic judgment, the Supreme Court of Nigeria directed the federal government to adjust its share of the agreements without any further delay. While the Supreme Court is commended for the determining the matter expeditiously, the National Assembly should proceed to amend the Act. In particular, Section 5 of the Act which provided that royalty would not be collected from oil and gas companies operating in areas in excess of1, 000 meters depth should be amended since the section was to last for 15 years. It expired in 2008 by effluxion of time. The implication of the automatic repeal of the section is that the Federal Government is entitled to collect the accrued royalties for the past 10 years. On account of a study commissioned by Nigerian Maritime Administration and Safety Agency (NIMASA) under the Jonathan administration it was established that from January 2011 to December 2014, 60.2m barrels of crude oil stolen from Nigeria were discharged at the Philadelphia Port in the United States of America. The oil and shipping companies involved in the criminal enterprise have been identified but the Federal Government has been very reluctant to recover the sum of $12.7 billion being the value of the stolen crude oil. Even the Economic and Financial Crimes Commission which is busy collecting some hundreds of millions of Naira from alleged local looters have not investigated the monumental

fraud which has been traced to the foreign oil and shipping companies It is hoped that the PENGASSAN and NUPENG will assist Nigeria to recover the said sum of $12.7 billion from the indicted companies. From the information at my disposal several millions of crude oil stolen from Nigeria were also shipped and discharged in many ports in the United States, China, United Kingdom, France, India etc. during the same period. It is estimated that the Federal Government can recover not less than $100 billion being the value and penalties imposed on the companies involved in the crude oil theft. Apart from ensuring that the aforementioned funds are recovered the trade unions led by the Nigeria Labour Congress and the Trade Union Congress should call for an end to the national shame of running from the West to the East to beg for all kinds of loans. It is time the labour movement mobilised the Nigerian people to take over and own the anti corruption war. The anti graft agencies ought to be fully supported in the recovery of the nation’s looted wealth. It is in our collective interest that the war against corruption is not left for the federal government to wage alone. If the war is left for the ruling party the war may be politicised in a manner that highly connected individuals may be excluded from prosecution. For instance, the allegation that a sitting governor collected a bribe of $5 million should attract the attention of the anti graft agencies. This is an allegation that should not be swept under the carpet like the $5 million bribe allegedly received in the Halliburton affairs (involving $180million} by a former President through one of his aides.

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