Zakzaky"s son, wife, other Shiite leaders killed by Vanguard Media Limited

...towards a better life for the people

VOL. 25: NO. 62648

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MONDAY, DECEMBER 14, 2015

$2.2bn arms probe: I didn't collect EFCC in dilemma over N100m from Yuguda, Sanusi, ex-CBN gov says Bode George 13

Zakzaky's son, wife, other Shiite leaders killed •Where about of sect leader, Sayyid Ibraheem Zakzaky unknown •Army vows to ensure law and order prevail •Hundreds of our members killed — Sect

By Kingsley Omonobi & Luka Binniyat

BUJA—NO fewer than 20 members of the Shi’ite sect were killed, yesterday, including son of the sect leader Sayyid Zakyzaky and his wife, as the military cracked down on the sect for blocking the highways during their public procession in Zaria, Kaduna State. The sect, however, claimed that hundreds of its members were killed by

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Inflationary pressure has resumed — NBS 8 OLU'S CORONATION—The newly crowned Olu of Warri Kingdom, HRM Ogiame Ikenwoli I (3rd from right); Dr. Duakpenmi Andrew Ayu, Olori-Ebi of Royal Family(1st from right); Chief Prest Udueyin, Chief Ayiri Emami( 2nd & 3rd from left) and others shortly before the crowning of the monarch at Ode-Itsekiri, ancestral home of the Itsekiris in Warri South Local Government Area of Delta State, weekend.

Lagos approves fly-over bridges for Ajah, Abule Egba OWEI LAKEMFA

P.20 OCHEREOME

NNANNA

P.36 HENRY BOYO

Is the economy

Orphaned Senate C M Y K

‘97%/5%', a formula poisoned by CBN for national upheaval $ hoarding?

COLUMNISTS:

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Biafra agitators should be given fair hearing, say Christian Elders 7

Mr & Mrs

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POCKET CARTOON

CONVOCATION—From left: The Vice Chancellor, Kaduna State University, Prof. William Barnabas Qurix; with President Muhammadu Buhari and Governor Nasir El-rufai of Kaduna State at the presentation of Doctorate Degree Award to President Buhari at the 2nd Convocation Ceremony of the university on Saturday. Photo:Olu Ajayi.

Zakzaky's son, wife, other Shiite leaders killed Continues from Page 1 soldiers who stormed three of its locations with heavy military weapons. It was gathered that the troops engaged members of the sect throughout the night as heavy shootings and sounds of explosions were heard in Gyallesu and Sokoto Road, where Hussainiyya – the spiritual centre of the sect – is located. The Nigerian Army and members of the sect have accused each other of instigating attacks that led to the death of members of the movement on Saturday. While the Army accused the Shiite followers of attempting to

assassinate Nigeria’s Chief of Army Staff, Tukur Buratai, the Islamic movement said soldiers simply decided to attack “defenceless people”. The army on its part vowed to put an end to the threats, delays and disruption caused by the group. Meanwhile, the where about of the leader of the sect, Sayyid Ibraheem Zakzaky was unknown as the sect claimed that its members, who were killed, included the leader of the Kano Centre, Sheikh Muhammad Turi, the son of sect leader, Sayyid Ibraheem Zakzaky and his wife. In its account of the violent confrontation between it and the

IT'S UP TO YOU

BY AYO ADIO

HAT makes you special isn’t really what you do but who you are. Strive to become better each day and life will reward you tremendously. It's up to you.

TAKE HEART BY ELLA RANDLE

Love is giving others the freedom to be—Take Heart Quotes

EARN to live without attachment to things or people. in the song of life. It does not matter who is dancing away from you but rather more sweetly who is singing in harmony with you. Be generous, tender and yet strong enough to stand by your decisions. Learn to yield and bend. Be flexible in your dealings with others. Always choose kindness over being right. Fill your heart with gratitude and practice radical humility. See the miracle of love in everything and everyone.

SAYINGS OF OUR PEOPLE Soon, we will know who owns the farm, the farmer or the rodent.

military, the sect, in a statement by its spokesman, Ibrahim Musa said: “Following alleged blockade of the route of the Chief of Army Staff by the members of the Movement, the Nigerian Army brutally descended on armless members of the Movement with heavy military weapons killing indiscriminately.

Those killed “In the mean time, leading members of the Islamic Movement and other members as well, have been killed by the soldiers including the leader of the Kano Center, Sheikh Muhammad Turi, Dr. Mustapha Sa’eed, Malam Ibrahim Usman and Sister Jummai Gilima. “Also killed were Sayyid Aliy, the son of the leader of the Movement, Sayyid Ibraheem Zakzaky; the wife of Sayyid Ibraheem Zakzaky, Malama Zeenat Ibraheem and tens of other members as more are being killed as at the time of this release. “The sporadic killings took place at three locations that included the residence of the revered leader of the Movement at Gyallesu, the Husainiyya Bakiyatullah at the GRA and the Darur Rahma located along Zaria-Jos road where many unarmed people were killed. “The killing was so brutal at Gyallesu that even those injured in the shooting were identified and killed in cold blood

by the soldiers. And as at the time of writing this press release, the victims are in their hundreds, if not thousands. “Considering the gross violation of fundamental human rights and extrajudicial killings perpetrated by the Nigerian Ar my, the Islamic Movement hereby condemns these unjustifiable acts. “We state categorically that the claim by the Army that members of the Movement attempted to assassinate the Chief of Army Staff was a blatant lie as the army came back to launch their attack more than an hour after the COAS had passed. “Clearly, the Nigerian government through its military is now on rampage in an all out war with the Islamic movement, its members and structures. The scale of this attack would suggest it was meticulously planned by authorities and now being executed ruthlessly. The alleged attack on COAS Burutai was just an alibi. “Therefore, with all pointers at the government as the contractor of the killings, we hereby call on well meaning Nigerians and the international community to intervene and seek redress for the victims and their family members as many innocent people have unjustifiably been killed and many others severely injured. “In the mean time, there is no idea as to the where about of the leader of the Movement, Sayyid Ibraheem Zakzaky nor

his current condition, and aggrieved members of the Movement across the country have taken to the streets in protests”. The killing of Turi, the leader of the Kano Center, has sparked tension in Kano, as members of the sect staged a rally from Saturday night till about 4am on Sunday. Another rally held on Sunday around Fagged Mosque, popularly known as ‘Waje Mosque’. According to a Kano resident, tens of thousands of Shi’ia members trooped to the nooks and crannies of Kano, passing through the palace of the Emir of Kano, Alhaji Muhammadu Sanusi II, and raining expletives on the military personnel attached to Tukur Buratai, chief of army staff.

Army vows to ensure law and order prevail The Nigerian Army in a statement giving an update on the confrontation said, “Saturday ’s incident involving clashes between detachments of the Nigerian Army, accompanying the Chief of Army Staff, Lieutenant General TY Buratai and followers of Sheikh Ibrahim El Zak-Zaky, suspected to be members of the Shiite Sect in Zaria, leading to loss of lives as a result of the Shiite group members’ blocking roads and not allowing other passersby to go about their lawful businesses and activities, was most unfortunate. “The Nigerian Constitution guarantees the rights of any group of persons and Sheikh El Zak Zaky’s followers to hold a peaceful march or procession unhindered, but it also guarantees other people’s rights of way on public highways. “It is important to note that over the years this group has subjected ordinary citizens using public roads to untold

hardship, delays, threats and disruption simply because they insist on using public space irrespective of inconvenience and hardship on other law abiding citizens and motorists." The statement signed by Col. Sani Usman, Acting Director, Army Public relations said: “This cannot be tolerated and must stop! “As soon as order is restored to the situation in Zaria city and its environs, the Police will conduct an enquiry and the public will be informed. “In the meantime, the public is advised to go about their lawful business and report any suspicious persons or incidents to the police. In an earlier statement on the clash, the army said that members of the Shiite Islamic sect Saturday attacked the Chief of Army staff, Lt. General Tukur Buratai and his convoy on their way to Zaria to attend the passing out parade of 73rd regular intake of Depot, Nigerian Army. The army added that the attack was a planned assassination attempt on the army boss which was repelled and that the army Chief escaped unhurt. In the ensuing shootout that followed, an unspecified number of persons lost their lives while there were injuries on both the side of the army and the Shiites. A statement by the Army had said : “The sect numbering hundreds and carrying dangerous weapons, barricaded the roads with bonfires, heavy stones and tyres. “They refused all entreaties to disperse and then started firing and pelting the convoy with dangerous objects. “The barricade was obviously a deliberate attempt to assassinate the Chief of Army Staff and members of his entourage while on a legitimate official assignment as Special Guest of Honour at the passing out parade which has earlier been widely publicized.

6—Vanguard, MONDAY, DECEMBER 14 , 2015

Cattle rearer bags death sentence for murder A

By Peter Okutu

BAKALIKI—EBONYI State High Court sitting in Abakaliki and presided over by the state Chief Judge, Justice Alloy Nwankwo, weekend, sentenced a cattle rearer, Musa Barugun, to death by hanging for murder. Barugun had in February 2013 killed one Chibueze Nkwegu at Sharon in Izzi Local Government Area of the state.

The convict attacked and killed the deceased with sharp knife after piercing his victim, Nkwegu, in the chest and stomach. The deceased was reported to had been complained of destruction of his crops by the cows and severally pleaded with Barugun to control his cows but his appeals fell on deaf ears. It was learned that problem ensued between the deceased

and the herdsman making Barugun to stab him to death before he was later arrested and arraigned for murder. Barugun could not put up defense to counter the evidence before the court on the matter as the sharp knife (dagger) used in committing the act was found in his possession with the clothes he wore on the day of the incident. The convict clothes which

were stained with human blood were tendered as exhibit during the trials and the court found him guilty and sentenced him to death by hanging. But the leader of Hausa community in Ebonyi State, Alhaji Danjuma Gambo who described the death of Nkwegu as unfortunate said the convict will appeal the judgment.

Suspected arsonists kill 77-year-old woman in Anambra By Nwabueze Okonkwo

NITSHA—A 77-year woman, Mrs. Grace Orizu was weekend killed when her son’s five-room bungalow was allegedly set ablaze by some suspected arsonists at Little Wood Estate, Obosi in Idemili North Local Government Area of Anambra State. The house help, nine-yearold, Progress Nwachukwu, was rescued from the kitchen by neighbours where he hid, but the body of Grace Orizu was discovered in the toilet where she had hidden herself while the fire was raging. She was said to have been rushed to various hospitals before landing at St. Charles Borromeo Mission Hospital, Onitsha where she was certified dead by medical experts. The incident, according to the source, occurred when the arsonists believed to be after the life of her second son, Emeka Orizu who was recently elected as chairman of Little Wood Estate, Obosi, allegedly sneaked into the compound at about 3 p.m., and quietly sprinkled some liquid substances suspected to be Premium Motor Spirit, PMS, all over the bungalow, including its roof top before setting it on fire. The traditional ruler of Obosi, Igwe Chidubem Iweka, during a visit was told that Emeka Orizu left the house at about 2p.m. for Ihiala on a condolence visit to his in-law only to be called on phone by his wife at about 3.30p.m. to inform him of the incident. Narrating his experience to the monarch, the nine-yearold house help, Promise said that he heard a noise at the gate and the deceased asked him to go and check those making the noise, adding that as he came out, he saw

someone sprinkling liquid substance on top of the roof and thinking that it was an ordinary water, he ignored him and went inside the room

before the fire started. Igwe Iweka described the incident as a dastardly act and called on the state government and law enforcement agencies

to investigate the matter with a view to bringing the culprits to book, adding that he had equally informed the state government and the Police about the incident.

ARSON: The building where the 77-year-old, Grace Orizu, was allegedly set ablaze by suspected arsonists at Obosi, Anambra State. INSET: The house help, nine-year-old, Progress Nwachukwu, who was rescued by neighbours.

Man, 36, docked over alleged theft of N860,000

AGOS—A 36-year-old man, Sanusi Saheed, was last Friday arraigned before an Ikeja Magistrate's Court for stealing N860, 000 belonging to his employer Mr. Alex Ogbebor. Saheed, who resides at No. 9 Rafiu Odebiyi St., OkoFilling Bus-Stop, Igando, a suburb of Lagos, was docked on a charge of stealing. The prosecutor, Insp. Frank Inah, said that the accused stole the amount being the

proceeds of the Estate Hall belonging to Ogbebor. He said that the accused committed the offence June 15 at about 10a.m. at Estate Festival Hall, 11 Road, Gowon Estate, Lagos. Inah said that the complainant employed Saheed as a supervisor of the hall. He said that on July 20, Ogbebor discovered that the accused had converted the N860, 000 into his personal account without his knowledge. “Saheed absconded and all

efforts to trace him proved abortive until Dec. 1 when he was found and arrested by the police,” Inah said. The prosecutor said that the offence contravened section 285 of the Criminal Law of Lagos State, 2011. The accused, however, pleaded not guilty to the charge. The magistrate, Mrs. M.O. Osinbajo, granted the accused bail in the sum of N100,000 with two sureties in like sum and adjourned the case till January 21, 2016 for mention.

Police kill 5 suspected kidnappers, robbers in Rivers By Jimitota Onoyume

ORT HARCOURT— THE Police in Rivers State have reportedly killed five suspected kidnappers and armed robbers said to have been involved in series of armed robberies and kidnappings in Port Harcourt and its environs The state Police Commissioner, Mr. Musa Kimo who disclosed this yesterday in a statement in Port Harcourt said one of those shot dead during exchange of fire with policemen was the leader of a gang that allegedly murdered the Divisional Police Officer, DPO, Rumuokoro Division, CSP Cliff Igwegbe about two weeks ago. The state Police chief, who spoke through the Rivers State Police Public Relations Officer, DSP Ahmad Muhammad, said the other suspects met their death in a shoot out with policemen along Aluu/Airport Road after a failed kidnap bid they embarked on. The Police command further said two other suspects arrested confessed to being part of the gang that attacked the late CSP Igwegbe. The Police said two AK47 riffles, one assault rifle, 119 rounds of live ammunition, seven magazines were among items recovered during the operation. He a kidnap victim, Ken Livinus, was also rescued during the operation He said: “The Rivers State Police Command announces the arrest of two notorious armed robbers who confessed to have been involved in series of armed robberies and kidnappings in Port Harcourt and its environs, including the recent gruesome murder of late CSP Cliff Igwegbe, who was the Divisional Police Officer of Rumuokoro Division before his death."

Vanguard, MONDAY, DECEMBER 14, 2015—7

Chidi Nkwopara, Suzan Edeh, Caleb Ayansina, Nwabueze Okonkwo, Ugochukwu Alaribe

Biafra agitators should be given fair hearing —Christian elders

...say judiciary has been garrisoned by one religious, ethnic group •Uwazuruike cautions IPOB against allowing factional MASSOB •Says he has no hand in Nnamdi Kanu’s travail •Iwuanyanwu blasts protesters, Ndigbo •Eze Igbo in Bauchi warns Igbo community against agitation

B U JA — N AT I O N A L Christian Elders Forum, NCEF, yesterday, called on the Federal Government to critically examine the current agitation for the republic of Biafra and give the agitators a fair hearing. The forum also observed with contempt the impression that only one section of the country with same religion faith was qualified to be the Chief Justice of the Federation. NCEF in a communique in Abuja by its chairman, Mr. Solomon Asemota, SAN, after the forum meeting in Jos, Plateau State, raised several national issues to be looked at, adding that in as much as issue of secession had never been raised since retuned of democracy in 1999 till now, it should be looked into by government with keen interest. “While we frown at, and discountenances any move towards secession by any group in the nation, we firmly believe that the grievances of the agitators for Biafra Republic should be examined and the people should be given a fair hearing. “It will be noted that since the return to democracy in 1999, there has been no such widespread agitation until now,” it stated. Judiciary garrisoned Asemota wondered why it was only one section of the country with Muslim background that is qualified to be the Chief Justice of the Federation, CJN, calling on government to look into the matter. “The Christian Elders also observe with much concern the impression that is created in the judiciary that only persons from a section of the country are qualified to be the Chief Justice of the Federation. “That the Nigerian judiciary has been garrisoned by a section of the country and a religion is no longer in doubt, however, the dismantling of this anomaly is expedient. Nigeria can only survive and thrive on a tripod of justice, equality, and fairness.” However, he made it clear that the forum had no personal grudge against the current CJN in the country, calling the government and Nigerians attention to recent appointments of those who hold the defence line of the country. “The Christian Elders wonder why in a divergent and pluralistic society, such as Nigeria, all the critical security institutions in the nation are headed by people from one section of the country. The Minister of Defense, the DirectorGeneral of Department of State Security, DSS, the National Security Adviser, NSA, and the Minister of Interior, are all from one section of the country and are adherents of the same religion. “The Christian Elders decry the violation of the Federal Character principle in sensitive federal appointments by the current administration. This

discriminatory anomaly should be reversed without delay,” the statement added. On the National Conference report, the forum called on “The government to implement the report and urge all Nigerians to raise a clarion call in this regard. It is in the best interest of Nigeria and all Nigerians that the report of the national conference is implemented in full.” On the current insecurity in the country, the elders called on Christians to evolved means of self-defence, while urging them to remain law abiding. “The forum enjoins all Christians in the nation to adhere to the Biblical injunction of ‘follow peace with all men,’ while Christians are urged to remain peace loving and shun any act of provocation, it has become necessary to advise Christian communities to evolve means of “self defense” to ensure selfpreservation. “The impunity and lawlessness with which religious extremists seek to exterminate Christians should be checked, more so, since the security agents seem helpless to apprehend these “unknown gunmen,” they said. Uwazuruike caution IPOB Meanwhile, the Chief Ralph Uwazuruike-led Biafra Independent Movement, BIM, yesterday, asked Indigenous People of Biafra, IPOB, to continue their demonstration in line with non-violence method for Biafra actualization and for the release of its detained Director of Radio Biafra, London, Mr. Nnamdi Kanu, leader of Biafra Zionist Movement, BZM, Mr. Benjamin Onwuka and all their members from South East and South South zone, who are still being captive in the custody of Nigeria’s security agencies. Uwazurike added that he had no hands in the current travail of the detained leader of IPOB and host of Radio Biafra, Nnamdi Kanu. In a statement by their Deputy Director for Information, Mazi Chris Mocha, BIM said: “We are not against IPOB protest. In fact, we will support the demonstration once it is carried out in a non-violent manner.” BIM added that it had a credible evidence to show that one Mr. Madu collected huge amount of money from the Federal Government to cancel IPOB’s earlier protest, adding, “it is regrettable that Chief Uwazuruike, founder of the proscribed MASSOB and now leader of BIM had promoted

VISIT: From left, Governor Ifeanyi Ugwuanyi of Enugu State, receiving Governor David Umahi of Ebonyi State, and the Deputy President of the Senate, Sen. Ike Ekweremadu, during a visit to the Government House, Enugu, yesterday. Madu from District Officer, DO, Onitsha South Local Government Area of Anambra State to Deputy National Director for Information and to National Director on July 15, 2003 and April 30, 2005 respectively, without knowing that he is so money and power conscious with little or no interest in the Biafra struggle. “All he needed is money and not the Biafran struggle to emancipate our people from their bondage in Nigeria. This was part of reasons he was expelled from former MASSOB on August 30, 2014. The Uwazuruike-led BIM has, therefore, cautioned the acting Director of radio Biafra, London, Mr. Uche Mefo to make sure that Madu does not take any part or represent IPOB in taking policy decision in any capacity or else he would bring IPOB to disrepute like he did to MASSOB.” Similarly, in an interview with Vanguard in Aba, BIM’s Assistant National Director of Information, Sunny Okereafor, said Kanu was one of Uwazuruike boys, stressing that the Biafra leader had no reason to plan evil against him. “If Uwazuruike had a hand in the travails of the director of Radio Biafra, he would not have used every opportunity to urge the Federal Government to release the IPOB leader unconditionally and still stand by that call.” He dismissed reports that BIM members were planning to attack IPOB members in Onitsha and other parts of the South East and South South and accused some an unnamed MASSOB leader of

being behind the false information. The spokesman advised members of IPOB to be wary of the likes of Uchenna Madu, alleging that if he could betray Uwazurike, he would not spare anybody.

for all manner of reasons. On the national census, Iwuanyanwu said that Igbo will always be in minority, especially as in some cultures and religious beliefs, people were expected to marry more than one wife and have more than 80 children.

Iwuanyanwu blasts protesters, Ndigbo Meanwhile, Champion Newspapers Publisher, Chief Emmanuel Iwuanyanwu, had expressed serious reservation on the way some people have been going about their demand for sovereign state of Biafra. Chief Iwuanyanwu, who addressed journalists in Owerri, Imo State, also regretted that some people had even gone out of their way to publish what they call accounts of the war. “Other tribes are doing better than us. It is good for somebody to protest, but it is nonsensical for people to go to the extreme level of taking laws into his hands by blocking roads. Books have been written by people who neither commanded any command nor fought the battles for their emancipations. “To say that Igbo are marginalized is stating the obvious and government must try and address the anomaly. It must also be said that before the war, things were done purely on merit but it is no longer so today. Where the Igbo go from here is anybody’s guess.” He said that General Yakubu Gowon started the issue of reconstruction, rehabilitation and reconciliation very well, adding that he was not too happy at the way Ndigbo now rush to Abuja

Eze Ndigbo of Bauchi State warns... Meanwhile, the Eze Ndigbo of Bauchi State, Eze Umezika had warned the Igbo community in the state against supporting any unlawful agitation that would undermine the unity and peace of the nation and urged them to distance themselves from the proBiafra protests in parts of the country. Umezika, yesterday, during an interactive session with the state Commissioner of Police, Baba Tijjani at the police headquarters, in Bauchi as part of efforts to enhance existing police public partnership towards effective policing in the state expressed worry over the recent agitations by certain individuals in some sections of the country, noting that it was uncalled for. “The new agitation for Biafra is a uncalled for, ill-conceived and ill-motivated. It is not in the interest of Igbo communities and an attempt to destroy peace and unity currently enjoyed in the nation. "It is also targeted to ignite a national conflict and cause chaos, pandemonium and confusion in the country. The Igbo have made tremendous progress since the civil war, hence the people of the South East and their future is better guaranteed and sustained within a united Nigeria."

8—Vanguard, MONDAY, DECEMBER 14, 2015

By Soni Daniel, Northern Region Editor

BUJA — AS investigation into the looting of funds meant for the acquisition of arms for the Nigerian armed forces continues, operatives of the Economic and Financial Crimes Commission, EFCC, are in a dilemma over what to do with the former Central Bank of Nigeria, CBN, Governor, Sanusi Lamido Sanusi. Sanusi, who was removed from the bank by former President Goodluck Jonathan for accusing the Nigerian National Petroleum Corporation, NNPC, of not remitting $20 billion of oil proceeds into the national treasury, later become the Emir of Kano, an influential traditional and religious post that carried more weight in the northern part of Nigeria than the CBN. The operatives are keen on interrogating the emir on the numerous disbursement of funds to the office of the former National Security Adviser, Col. Sambo Dasuki (retd), who is being tried for money laundering, breach of public trust and diversion of public funds. Findings by Vanguard, however, showed, weekend, that the operatives were in a fix on what to do in order to get the revered traditional and religious ruler to speak to them on what he knows about the huge sums of money taken away from the nation’s apex bank under the guise of security. The commission, it was gathered last night, is contemplating whether to invite Sanusi or go to meet him quietly to interview him on the funds moved from the bank to the National Security Adviser, during his tenure and why such disbursement were never questioned or declined by him. A source in the commission hinted that they were keen on getting first hand information from the emir but in a way that would not raise any eyebrow or bring the commission into trouble with any individual or group. It was learnt that the commission’s top official had already visited Kano and would possibly try to seek an avenue to discuss with the emir quietly and return to Abuja.

Set to grill Emefiele, others

But a source said that other CBN governors, including the incumbent Godwin Emefiele, would soon be invited to explain their roles in the arms sandal, which is very embarrassing to the nation. One of the sources said that it was a matter of time before the top bank officials would be summoned to clarify their roles in the national financial scam.

TOUR: Minister of Power, Works and Housing, Mr. Babatunde Fashola (right); Managing Director/Chief Executive Officer, Egbin Power Plc, Mr. Dallas Peavey Jr middle) and and another top management staff during a facility tour and inspection shortly before the commencement of the despatch of additional 220mw from Egbin Power to boost power supply in Lagos, Friday.

$2.2BN ARMS PROBE: EFCC in

dilemma over Sanusi, ex-CBN gov Set to grill Emefiele, others over cash disbursement NGE backs FG on moves to recover stolen funds The spokesman for the EFCC, Mr. Wilson Uwujaren, could not be reached for comments in the latest development in the arms scam probe. His telephone lines indicated that they had been switched off when our correspondent called on

Sunday evening.

NGE backs FG on moves to recover stolen public funds

The Nigerian Guild of Editors (NGE) has thrown its weight behind the efforts of the Federal Government to recover stolen public funds and commended

the courage behind it. While urging the government to respect the fundamental human rights of the suspects in the process, the Guild asked the government to thoroughly investigate every corruption case and pursue same diligently and to logical conclusion.

In a communiqué issued at the end of its 4th quarterly Standing Committee meeting, weekend, in Abuja, the guild advised judges to be circumspect in granting injunctions and be more painstaking in the adjudication of corruption cases. The guild, in the communiqué signed by its President, Garba Deen Mohammad and General Secretary, Victoria Ibanga, further warned state governments not to renege in the payment of the N18,000 minimum wage and urged them to improve on their internally generated revenue, reduce the cost of governance and ensure due process in the award of contracts. According the communique,”the Guild is alarmed by the downward slide of the Naira which is impacting negatively on the purchasing power of Nigerians and wants the Federal Government to diversify the country’s revenue base to shore up the value of the national currency. "The Guild also noted with concern the perennial fuel scarcity in the country and called on the Federal Government to find a lasting solution to the problem." While reiterating its warning against any attempt to gag the press or tamper with the freedom of expression of Nigerians, the editors urged the Senate to retrace its steps with respect to the Frivolous Petitions Bill which is against the freedom of the press. The editors, therefore, urged the National Assembly to expunge Section 24 of the Cyber Crime Act which is considered to be more obnoxious than the Frivolous Petitions Bill.

Inflationary pressure has resumed — NBS Unemployment'll reduce after passage of 2016 budget —Buhari By Emeka Anaeto, Economy Editor & Levinus Nwabughiogu

AGOS — INFLATIONARY pressure which abated in October appeared to have resurfaced, going by the latest reports from the National Bureau of Statistics, NBS. In the report released, yesterday, the Consumer Price Index, CPI, which measures inflation, inched higher in last month with the headline index increasing by 9.4 per cent yearon-year, against 9.3 per cent recorded in October. According to NBS, the index was driven in part by higher prices within the food and nonalcoholic beverages division of the index as well as increases in the transportation division as a result of shortages in Premium Motor Sprit, PMS, popularly known as petrol, coupled with the spill-over effect impacting transportation of people and goods across the country. “Food prices as measured by the food sub-index also increased at higher pace in November,” the report stated.

Food sub-index increased to 10.3 per cent year-on-year during the month, while all major food groups which contribute to the food sub-index increased at a faster pace during the month with the exception of the fruits group which has been trending lower since June this year. Increases in the “All Items less Farm Produce” or core sub-index rose at the same rate for the second consecutive month at 8.7 per cent, as rates have slowed or held steady for a quarter. The core sub-index was moderated by slower increases in multiple divisions such as clothing and footwear; housing and water, electricity, gas and other fuels; and furnishings & household equipment, maintenance among others. On a month-on-month basis, the Headline Index as well as the food and core sub-indices all increased at a faster pace in November. Also, the urban index grew at the same pace as recorded in October; at 9.4 per cent year-onyear while the rural index edged higher to 9.3 per cent in

November from 9.2 per cent in October. On a month-on-month basis, both the urban and rural indices increased at the same pace, both increasing at 0.7 per cent in November. The percentage change in the average composite CPI for the 12-month period ending in November 2015 over the average of the CPI for the previous 12-month period was 8.9 per cent, marginally higher from 8.8 per cent recorded in October. Food prices as observed by the food sub-index increased to the highest rate recorded this year. Prices increased by 10.3 per cent year-on-year in November, 0.2 percentage points higher than rates recorded in October. The index was pushed higher as a result of faster increases in the fish, bread and cereals; vegetable and meat groups.

Unemployment'll reduce after passage of 2016 budget —Buhari Meanwhile,

President

Mohammadu Buhari, yesterday, stated that the problem of youth unemployment bedevilling the country would become history after the passage of 2016 national budget President Buhari spoke at a dinner he organised in honour of the visiting Alumni Association of the Indian Defence Services Staff College,DSSC, Wellingon, led by the Indian High Commissioner to Nigeria, Mr. Ghanashyam. The delegation included a number of retired Indian army generals who were course-mates of the President. Lamenting that 60 per cent of the country’s youth population was unemployed, the President said: “We will sit down to see how we can rehabilitate industries. We will do this in order to clear the problem of unemployment. This is extremely dangerous for our country. We are meeting after the budget to see how to revive industry and secure the economy.” The President also explained that the insecurity in the North-East, abduction for ransom in the South and the sabotage of the oil industry in the delta region have connection with poverty and unemployment.

Vanguard, MONDAY, DECEMBER 14, 2015—9

THANKSGIVING: From left: Ooni of lfe, Oba Adeyeye Enitan Babatunde Ogunwusi; Bishop of lfe, Rev. Oluranti Oluwole Odubogun and Chief Oriowo Oyeyemi during the coronation thanksgiving service of the Ooni of lfe at St Paul's Anglican Church, Ayebaju, lfe, yesterday. Photos: Shola Oyelese

From left, Olori Abiodun Awojoodu; Obawara of Iwara lfe, Oba Olayiwola Adereti and the Orangun of Oke lla, Oba Adedokun Abolarin at the event.

Petrol price reaches all time high at N115 per litre By Emeka Anaeto, Economy Editor

AGOS — AVERAGE pump price of premium motor spirit, otherwise known as petrol, across the country in the month of November was N115.35 per litre, up from N93.5 recorded in the preceding month of October. Interim reports have pointed to further rise this month with the lingering fuel scarcity in most parts of the country. This is contained in the monthly PMS Price Watch of the National Bureau of Statistics, NBS, released yesterday. The survey does not cover black market. Surprisingly, the report shows that highest pump prices were recorded in the oil producing Niger Delta states while lowest pump prices were recorded in the North and South western states. In a state-by-state report, average pump prices was highest in Akwa Ibom State which recorded N187.5 per litre followed by Abia at N146.6, Cross River at N140.4 and Rivers at N139.6 per liter. The lowest average pump price was recorded in Bauchi State at N91.3 per litre followed by Katsina and Ogun States at N91.5 each. On the country-wide trend, the current report shows that the average pump price at N115.35 has risen by 23.4 per cent monthon-month, the highest rate so far this year, compared to 13.66 per cent recorded during the petrol scarcity of the last days of expresident Goodluck Jonathan’s regime. The current fuel scarcity started during November under review following inability of petroleum marketers to continue supply due to huge outstanding subsidy payment the Federal Government was owing them and also lack of clarity of policy on subsidy payments. Over N500 billion outstanding C M Y K

subsidy claims are still hanging as at last weekend even after the approval of N413 billion payment by the government last week. Their concerns appeared worsened by the content of the 2016 Medium Term Expenditure Plan, MTEP, approved by the Federal Executive Council, FEC, last week which shows that subsidy funding was not covered adequately. The 2016 budget

would be extracted from the approved MTEP. Consequently, petrol stations and dealers have been very cautious in the trade and supply at subsidized rate of N87 per litre. During the month of November, following the fuel crisis situation witnessed in the country, the Nigerian National Petroleum Corporation, NNPC, stated that it distributed 25.539 million litres of PMS to petrol

stations across the country but the impact was not felt. Following the crisis which the government has largely blamed on unscrupulous marketers who engage in hoarding of the products as well as panic buying by motorists, security agencies were deployed to enforce sanity in most petrol stations, while forcing marketers to sell products at official pump price otherwise the petrol stations were shut down.

Frivolous Petitions Bill: Online publishers sue Senate Apply for perpetual injunction By Ikechukwu Nnochiri

BUJA —THE Registered Trustees of Online Publishers Association of Nigeria has gone before the Federal High Court in Abuja to obtain an order of perpetual injunction restraining the Senate from passing into law the proposed bill for an act to prohibit Frivolous Petitions and other matters collected therewith. The controversial bill, if passed into law, stipulates two years imprisonment, a fine of N2 million or both for anyone who, through text message, tweets, whatsapp or any social media, post any abusive statement capable of setting the public against any person and group of persons, an institution of government or such other bodies established by law. The plaintiff, in the suit it filed through its lawyer, Mr. Ugochukwu Osuagwu, argued that the Bill which was sponsored by Senator Bala Ibn N’Allah from Kebbi South, will amount to a gross violation of

section 39 (1) and (2) of the 1999 Constitution, as amended. In an affidavit deposed by Mr. Daniel Elombah, an online publisher and member of board of the plaintiff, he told the court that the “offensive bill” was presented before the Senate on December 2 by its committee on Judiciary, Human Right and Legal Matters, with a view to passing same into law. It specifically prayed the court to among other reliefs, make “a declaration that in view of the provisions of section 39(1) and (2) of the 1999 Constitution, the defendant, her officers, members, agents and privies cannot lawfully pass into law a bill for an Act to prohibit Frivolous Petitions and Other Matters connected therewith as presently constituted and or drafted. “A declaration that the passage into law of the proposed bill for an Act to prohibit Frivolous Petitions and Other Matters connected therewith, will amount to the

violation of freedom of expression of the plaintiff as guaranteed under section 39 (1) and (2) of the 1999 Constitution of the Federal Republic of Nigeria. “An order of injunction against the defendant restraining her from further debating and considering proposed bill for Frivolous Petition and Other Matters connected therewith, which violates section 39(1) (2) of the 1999 constitution. The plaintiff argued that allowing the proposed law would among to a gross breach of section 39 of the constitution which it said provides that, “every person shall be entitled to freedom of expression, including to hold opinions and to receive and impart ideas and information without interference.” “That it is in the interest of justice for this court to grant the reliefs sought in this originating summons,” the plaintiff added. Meantime, no date has been fixed for hearing of the suit.

EFCC docks Dasuki, Yuguda, others on fresh charges today By Ikechukwu Nnochiri

BUJA —The Economic and Financial Crimes Commission, EFCC, will today arraign the embattled former National Security Adviser, NSA, Col. Sambo Dasuki (retd), before an Abuja High Court on fresh charges bordering on alleged illegal diversion of public funds. The commission has already secured leave of court to compel Dasuki and eight others, including a former Minister under President Goodluck Jonathan, to enter their plea today before trial Justice Hussein Baba Yusuf of the FCT High Court sitting at Maitama. Others the anti-graft agency dragged before the court over their alleged complicity in a N10 billion fraud, include the former Minister of Finance, Bashir Yuguda and a former Director of Finance in the Office of the NSA, Mr. Shuaibu Salisu. Equally to be docked before the court today are former governor of Sokoto State, Attahiru Dalhatu Bafarawa, Sagir Attahiru and a company the EFCC insisted was used to divert huge sums of money from the office of the NSA prior to the 2015 general elections, Dahaltu Investment Limited. Others are former Executive Director of the Nigerian National Petroleum Commission, NNPC, Aminu Baba-Kusa, as well as his companies, Acacia Holding Limited and Reliance Referal Hospital Limited.

10 — Vanguard, MONDAY, DECEMBER 14, 2015

Lagos plans fiesta during New Year crossover

MILITARY PANEL: Fayose accuses FG of witch-hunt •Enquiry to serve sentimental interest — EKITI PDP

By Gabriel Olawale

AGOS—THE Lagos State Government says it is set to host the first edition of ‘One Lagos Fiesta’ to further the tradition of the New Year crossover celebration. Mr Folarin Coker, Commissioner for Tourism, Arts and Culture, disclosed this weekend at a conference to unveil the ‘One Lagos Fiesta’ scheduled to hold in Lagos between December 27 and January 1, 2016. The commissioner said over 50 artistes are expected to perform for over 300 hours at the event, which is expected to attract one million people to welcome the year 2016 at the biggest crossover party in subSaharan Africa. Coker added that the festival-like event will happen simultaneously in five locations in the three senatorial districts of the state. The event, aimed at showcasing the state’s cultural heritage and art, according to him, will take place in Agege Stadium, Badagry Stadium, Ikorodu Town Hall, Bar beach, Lagos and Epe Youth centre in Epe. “The ‘One Lagos Fiesta’ is a 5-day celebration of entertainment with fun, food, drink, comedy, dance and theatre, with a strong infusion of the culture of each location,” he said. “The people of Lagos are known for hard work, which is complemented with a jovial spirit for celebration, especially during the festive period.''

C M Y K

By Dapo Akinrefon & Rotimi Ojomoyela

AGOS—GOVERNOR Ayodele Fayose of Ekiti State yesterday accused the Federal Government of plans to use a military panel to upturn his victory. Addressing newsmen in Lagos, Fayose, who faulted the military panel headed by Maj-Gen Adeniyi Oyebade to look at the roles of the military in the June 21 governorship election in Ekiti said that “The military report holds no water in law.” The Nigeria Army constituted a Board of Inquiry, BoI, to investigate the alleged involvement of its personnel at last year’s governorship elections in Ekiti and Osun states. Also, the Peoples Democratic Party, PDP, in Ekiti State said that it had been vindicated that the military panel on Ekiti and Osun states was set up for sentimental interest rather than a guide to democratic practice in Nigeria.” Fayose said; “You will recall that after I won the election, there was this effort to stop the swearing-in that generated a lot of controversy, even before and after the elections. There was one story of photochronic military rigging and all that. You will equally recall that there were four elections after mine, the presidential, National Assembly and State House of Assembly elections, they all followed the same pattern even when military men were not enough for the whole country. They followed the same pattern and it is good for anybody to complain about the elections but when you are not on ground, you cannot win an elections. After Dr. Kayode Fayemi conceded, the party still went ahead to challenge it up to the Supreme Court and we still won.” Faulting the Army report, he said “I am a clean person but what they are doing now is that they went to Kaduna, after all submissions, they now want to say the military rigged Ekiti election. They are releasing their report v e r y soon and knowing full well t h a t military report holds no water in law, the AttorneyGeneral would want that report reviewed a n d

ORDINATION; From left; new priest, Revd & Mrs Mobolade Omonijo; Chief Bambo Adesanya, Registrar, Diocese of Lagos West, Anglican Communion; Justice Ayo Philips, Deputy Chancellor, Diocese of Lagos West; Rt Revd & Mrs James Odedeji, Bishop, Diocese of Lagos West; Justice Babasola Ogunade, Chancellor, Diocese of Lagos West, and Revd & Mrs Oluwatusin Gboyega, during the 2015 Advent Ordination at All Saints Anglican Parish Church, Ikosi, Ketu, Lagos. Photo by Diran Oshe. approach the Supreme Court to review their position, which is not known in law.” He, however, maintained that the Supreme Court had laid to rest the controversy surrounding his victory at the election. “The Supreme Court dealt properly with the issue of impeachment and it did not raise issues of whether the elections were won or not. It talked about the issue of certificate that was raised in 2002 and it equally raised the issue of non-qualification as a result of impeachment. The court dealt with it all and it was a landmark judgement already reported in all law journals. “An online newspaper generated a report of a conversation and I came out to say that I was part of the conversation, I was the complainant in that conversation. If you now set up a military committee to look into the Ekiti and Osun elections that was adjudged to be free and fair, the Americans and international observers made it very clear that they recommend Ekiti elections for

subsequent elections. “To my surprise, I heard they set up a panel to look into activities of some military men during the elections in Ekiti and Osun, that is their choice. To fulfil all righteousness, I sent my Attorney-General and Commissioner for Information to give them information that they may not have. For instance they might not be privy to the observers’ report. If the international committee says the elections were free and fair, that the military did well, the military will be on their own if they indict their personnel because of politics. “Above all, I have been very critical of this government and I will continue to be critical of any government in Nigeria because democracy is about opposition and the government in power. I have no regrets and I am not sorry about my actions. I did not start after Buhari’s election, I started before the elections. I actually told Nigerians not to

vote for him (Buhari.) I placed advertorials and I am still not sorry for that, I still maintain my stand because I envisaged this disobedience to court orders and dictatorship.”

Panel set up for sentimental interest — EKITI PDP

The PDP in Ekiti State said if the military panel set up on Ekiti and Osun state election should not be taken as mere witch-hunt, the alleged the involvement of military in ballot snatching and violence that rocked the Bayelsa governorship election, which eventually rendered it inconclusive must be probed. The party said it had been vindicated that the military panel on Ekiti and Osun states was set up on sentimental interest rather than a guide to democratic practice in Nigeria with the participation of the same military in the election materials snatching, thumb-printing and killing of PDP members that marred the Bayesa State governorship election.

Lagos approves fly-over bridges for Ajah, Abule Egba

AGOS—THE Lagos State Government has approved the construction of fly-over bridges for two of the state’s high-density traffic zones - Ajah round-about and Abule Egba junction. The two major projects were approved by the State’s Executive Council and have been duly awarded to contractors for a speedy commencement of work. In a statement issued yesterday, Commissioner for Information and Strategy, Mr. Steve Ayorinde, said the projects will be completed within 16 months as part of Governor Akinwunmi Ambode’s ongoing road infrastructure projects across the state.

The statement said the construction of the reinforced concrete fly-over and signalized intersection at Ajah roundabout will be undertaken simultaneously with the rehabilitation of Freedom Road in Lekki, with a view to reducing the heavy traffic being recorded at the Ajah round-about and the Lekki-Ikoyi axis. Ayorinde said the Ajah fly-over bridge will have a solarpowered signalized intersection in order to greatly improve traffic, while the upgrade of Freedom Road is expected to ease traffic considerably for vehicles using the Third Roundabout to connect Lekki

through Admiralty way. While the Ajah project will ease movement of residents and commuters on the Lagos Island Ibeju Lekki areas, the construction of the reinforced concrete dualcarriage fly-over bridge at Abule Egba junction will equally bring joy and relief to millions of commuters that use the Lagos Abeokuta Expressway in IfakoIjaye Local Government Area of the State on a daily basis when completed. Like the Ajah project, Ayorinde said the Abule Egba fly-over bridge will also have signalised intersection under it to service Oko-Oba and other link roads within the axis.

Vanguard, MONDAY, DECEMBER 14, 2015 — 11

EKITI AIRPORT: Land owners sue Fayose, demand N650m damages By Rotimi Ojomoyela

DO-EKITI—THE airport project being planned by the Ekiti State government may have run into troubled waters, as farmers and land owners have sued Governor Ayo Fayose to court over unlawful and forcible acquisition of their land. The suit was instituted at an Ado Ekiti High Court by Ayodeji Makanjuola Esan, on behalf of the farmers and land owners of four communities affected by the proposed airport project. In the suit, the aggrieved farmers and land owners averred that the agents of the 1st defendant forcibly entered their land without any prior notice on 2nd October and subsequent occasions to clear and remove economic trees, crops and buildings, describing the action as illegal, unconstitutional, violation of their fundamental human rights and provisions of the Land Use Act 1978. Copies of the court papers, which was made available to newsmen

yesterday by the plaintiffs lawyer, Messrs Makanjuola, was marked HAD/71/2015, the plaintiff Fajuyi Ayeni, Tunde Ademiluyi, Faturoti Simeon, Awe Ojo, Oladimeji Ojo, Olaniyi Agbadaola, Moses Ojo, Fabiyi Oso, and Julius Oso, sued for themselves and on behalf of farmers. The affected communities are Igbogun farm settlement,

Igbemo farm settlement, Iwajo farm settlement and Aso Ayegunle, spanning three local government areas of Ado, Irepodun/Ifelodun and Gbonyin. According to the Originating Summons, the defendants in the case are Fayose (1st), Commissioner for Works and Transportation (2nd), Commissioner for

Lands and Housing (3rd) and Attorney General and Commissioner for Justice (4th.) Among the relief being sought is an order for the payment, jointly and severally by the defendants to the claimants the sum of N650 million being general damages for the unlawful entry, damaging, removal of economic crops, destruction of buildings, huts, storage sheds and general trespass on their parcels of land. No date has been fixed for the hearing of the suit. AWARD: Vice Chancellor; Obafemi awolowo University, Ile-Ife, Prof Bamitale Omole (left), confering Chief Alex Duduyemi with Honorary Degree of Doctor of Business Management with the assistance of the Chancellor; Alhaji (Dr.) Yahaya Abubakar; Etsu Nupe during the s c h o o l ' s graduation ceremony. Photo by Dare Fasube.

Ekiti varsity VC bemoans poor revenue generation By Rotimi Ojomoyela

DO EKITI—THE Vice Chancellor of Ekiti State University, Prof. Oye Bandele

yesterday lamented poor attitude of students to payment of school fees, saying only 2,000 out of the 17,600 students population of the institution

Kashamu urges Nigerians to be patient with FG By Daud Olatunji

B E O K U TA — T H E Senator representing Ogun East in the National Assembly, Prince Buruji Kashamu has thrown his weight behind the ongoing anti-corruption crusade of President Muhammadu Buhari. Kashamu stated this while speaking with newsmen shortly after a reception organized for him and other national and state Assemblies legislators by the leaders and members of the Ogun State Peoples Democratic Party, PDP, in Ijebu Igbo. The lawmaker, who also appealed to Nigerians to be patient with the administration of President Buhari, added that the ongoing probe into the alleged $2 billion arms deal was not misplaced. According to Kashamu, the anti-corruption war launched by President Buhari has, within a short time, gone a long way in reducing the incidence of the social menace. C M Y K

The lawmaker, who is the vice chairman of the Senate Committee on States and Local Government Administration noted that although such an anti-corruption war would result in some pains, it had become imperative to enable the government address the issues of development with a view to putting the country on a sound footing. “President Buhari is not the President of APC (All Progressives Congress.) He is the President of PDP, President of the masses and President of Nigeria. But, I can tell the masses today that since we started having presidents, it is now we have a president, because, the truth of the matter is that six months is very short to know what any president can do, but, this one, within six months, we are seeing what he is capable of doing and what he will still do. “Today, I can tell you Nigeria has started gaining. The TSA only has cleared over 30per cent of the corruption in the system.''

have paid their tuition fees. This was just as the VC promised to convoke a summit on Internally Generated Revenue, with intention to make every faculty a viable revenue generating sources to make up for the dwindling funds accruing to the institution. Speaking in Ado Ekiti yesterday, the Vice Chancellor, who resumed office December 1, following the expiration of his predecessor’s tenure, Prof Oladipo Aina, also disclosed that the management would soon begin a two-year programme leading to the conversion of Higher National Diploma certificate to degree status. Expressing concern over the refusal of the students to pay fully the N40,000 tuition fee,

Prof Bandele said the nonchalant attitude to school fees payment could frustrate his efforts in the provision of infrastructures and welfare packages. He appealed to the 15,600 students who are yet to pay their fees, to redeem their full payment before December 20, 2016. The former Vice Chancellor of the scrapped University of Science and Technology, Ifaki Ekiti and Ekiti State University of Education, said the university is setting machinery in motion for the exploration of business ventures like bakery, block industry, sachet water business, farming etc , to shore up the IGR of the institution in view of the dwindling allocation to the state.

Motorists advised to drive carefully on Sagamu-Ore road

JEBU-ODE—THE Federal Road Safety Commission, FRSC, has advised motorists to drive carefully on Sagamu-Ore express way at Yuletide. The spots include: Ososa River bridges I, II and III in Odogbolu Local Government Area; and Arun and Omo Rivers bridges I and II at J4 area, Ogbere in Ijebu-East Local Government Area of Ogun State. Mr Isah Seidu, the FRSC Unit Commander in IjebuOde, Ogun, gave the advice yesterday “These bridges have become notoriously dangerous for the past three years due to their weakened guard railings, which are no longer efficient in preventing vehicles from plunging into the rivers below. “On Oct. 15, we lost five passengers on board an 18seater commercial bus heading to Ondo State when their vehicle crashed into Omo river, taking the command four days to recover the corpses. “Our drivers must curtail their speed when they get to these spots to minimise the risk of crashes and we will also have our men available to signal motorists to slow down before passing”, Seidu added. He urged the Federal Government to urgently rehabilitate the SagamuOre expressway and reinforce the bridges with concrete barriers to stop the loss of lives on the road. Seidu warned security escorts attached to government personnel to ensure giving right-of-way to other road users, saying the corps would not condone any form of indiscipline on the roads irrespective of status.

Osun govt vows to rid schools of gangsterism

SOGBO—THE government of Osun State yesterday said it will not relent in its various reforms until violence is completely rooted out of its public schools institutions. It said part of the rot created by the long years of abandoned education sector in the state is that schools had become breeding grounds for gangsters rather than wellgroomed individuals. The government stated this in

the wake of the reported reckless display of violence by some misguided pupils of two stateowned schools at the state capital Osogbo, last week. In a statement signed by the Director, Bureau of Communications and Strategy, Semiu Okanlawon, the government said ugly incidents such as which happened at the Anglican High School and Adele Middle School both in Osogbo were part of the ugly

results of long years of neglect of the education sector, a development which created ample opportunities for irresponsible conducts of pupils. The statement recalled that Governor Rauf Aregbesola had, at the official unveiling of the first mega high school in the state, lamented what he called a deplorable situation in public education institutions, which had constituted breach of the peace to the entire community in the past.

12—Vanguard, MONDAY, DECEMBER 14, 2015

Bayelsa Poll: PDP slams JTF over security lapse in Southern Ijaw By Samuel Oyadongha

ENAGOA—THE Restoration Campaign Organization of Governor Seriake Dickson, candidate of the Peoples Democratic Party, PDP, in the inconclusive poll in Bayelsa State, yesterday, slammed the Joint Task Force, JTF, for absolving itself of any blame in the violence and irregularities that marred the recent election in Southern Ijaw Local Government Area of the state, saying that the security body could have done better to forestall the violence that led to the cancelation of the election. It has also rejected the position of the JTF on being neutral as the governor's campaign outfit accused it of colluding with others to rig the election. General Stevenson Olabanji, Commander, 2 Brigade, of the Nigerian Army, had at a news briefing in Yenagoa, regretted the violence during the election and claimed that the JTF made a number of arrests just as he stated that Governor Seriake Dickson’s visit to Oporoma on election day fuelled violence in the area. But the Restoration Campaign Organisation of the PDP, in a statement by its Director of Publicity, Jonathan Obuebite, blamed the JTF for the security lapse leading to loss of lives in Southern Ijaw council because it did not heed advice by the governor and others to postpone the election on account of anticipated violence.

He accused the JTF of being partisan, stating that its officers worked with thugs loyal to the opposition party in the state to undermine the entire electoral process in Southern Ijaw council. “It is only fit and proper for the JTF to own up to its failures and apologize to the people of Southern Ijaw for the despicable

and unprofessional conduct of some of its officers who clearly were more interested in lining their pockets. It failed to give reasons why it withdrew the military security attached to the governor and gave order for them to be detained, thereby compromising the security of the governor,” he said. Even while he commended the JTF on some of its efforts,

he, nonetheless, said they fell short of expectation. “We expected the JTF to have done much more, knowing fully well reports of arms build-up by the APC leading up the election. The JTF should have adopted a proactive approach by deploying superior intelligence to track down the movement of arms by APC thugs and arrest same long before the commencement of the election,” he added.

SWEARING-IN: From left: Comrade Innocent Oparaugo, Chairman, Rivers State Chapter of Liquified Petroleum Gas Retailer, LPGAR; Comrade Godwin Agbaduru, Vice Chairman, LPGAR, Rivers State Chapter and Comrade Ejike Ihemeje, Secretary, LPGAR, during the swearing-in of the new Executive Council of the union in Port Harcourt. Photo: Nwankpa Chijioke.

Court orders Navy to pay N200m over illegal detention of vessel By Onozure Dania

Federal High Court sitting in Lagos has ordered the Nigerian Navy and the Chief of Naval Staff, jointly and severally, to pay an oil company, Mercury Oil Limited, the sum of N200 million as damages for illegally detaining its vessel M T SAPPHIRE 1 and siphoning 280,000 litres of Automated Gas Oil contained in the said vessel. Trial judge, Justice Chukwujekwu Aneke said: “The present case has brought to the fore once again, the arrogant, brutal, callous and capricious manner our law enforcement agencies commonly adopt in the exercise of their functions to the consternation and embarrassment of any discerning and decent mind around. We are in a democracy and must do everything to enthrone and nurture democratic ethos for the good of the society.” The judgment was sequel to enforcement of rights suit by Mercury Oil Ltd., its vessel M T SAPPHIRE 1,and four crew members on board, Folorunso Olayiwola, Joshua Arthur, Asabalashe Johnson and Wale C M Y K

Alade, through their counsel, Mr Norrison Quakers, SAN. In an affidavit in support of the suit, the Managing Director of the firm averred that sometime in February, 2014,Mercury Oil company was engaged in offshore operation to load Automotive Gas Oil, AGO after relevant approvals were obtained. However, the vessel

and its crew members were arrested on suspicion of engaging in illegal operations. After due investigation by the Nigeria Security and Civil Defence Corps, which is the body responsible for such investigation, the vessel was cleared of any wrong doing or illegal activities and it was recommended that the vessel

should be released, but the Nigerian Navy refused and during the period the vessel was in detention, the 280,000 litres of AGO in the vessel was illegally siphoned by the Nigerian Navy. The product on board of the vessel, the MD averred, was financed by a bank loan to the tune of N170 million.

Edo 2016: Tension in APC over Oshiomhole’s rumoured endorsement of Obaseki By Simon Ebegbulem

ENIN—THE rumoured endorsement of the chairman of the Economic Team of Edo State Government, Mr Godwin Obaseki, as Governor Adams Oshiomhole's preferred governorship candidate of the All Progressives Congress, APC, ahead of the 2016 governorship election in the state is causing tension in the party. The tension is due to the calibre of aspirants in the party, including the Deputy Governor of the state, Dr Pius Odubu, former governor of the state, Prof. Osarhiemen Osunbor, Oshiomhole’s Works

Commissioner and political son, Osarodion Ogie, former Minister of State, Works, Dr Chris Ogiemwonyi, Kenneth Imasuagbon (Rice man) and Gen. Charles Airhiavbere. Obaseki’s emergence in the governorship race came as a surprise to many due to the fact that he is seen as a technocrat and not a politician. He is alleged to be backed by business mogul, Alhaji Aliko Dangote. However, tension heightened in the state's APC last week after some leaders of the party informed their followers that Obaseki was the governor’s anointed and urged them to key into it. Vanguard learned of an

alleged plot to ensure that his emergence was frustrated at the primaries by other aspirants. Oshiomhole had in an interview with Vanguard, expressed his respect for each of the aspirants and assured that the leadership of the party would ensure the emergence of a candidate that will sustain the infrastructural development he put in place. But a chieftain of the party, Rev Michael Egharevha, dismissed such threats, saying: “If Obaseki is the governor’s choice nobody will stop him. Oshiomhole made most of us what we are today and if he decides it is Obaseki, so be it, we will all support him. So if anybody is threatening, it is only a waste of time.”

Delta community to honour DESOPADEC Chairman

O K O — T H E Obitugbo community in Warri North Local Government Council Area of Delta State will tomorrow, hold a reception in honour of the Chairman of Delta State Oil Producing Areas Development Commission, DESOPADEC and Chief Executive Officer of Awaritse Nigeria Limited, Mr Godwin Ebosa. Chairman of the community and chief host of the event, Mr. Lawrence Ukubeyinje, said the honour was in recognition of Ebosa's outstanding contribution to the infrastructural and physical development of the community. According to him, Governor Ifeanyi Okowa’s appointment of Ebosa, a former Chairman of Warri North council, was well deserved because of Ebosa’s robust experience as a private entrepreneur and public servant per excellence. The grand reception is scheduled to hold at the Obitugbo ultra-modern town hall where other developmental projects would be showcased alongside the proposed site for the much expected Warri University.

N13bn varsity land: We got only N360m —Community

HE leaders and people of Okerenkoko, Gbaramatu Kingdom, in Warri SouthWest Local Government Area, Delta State, have given their total support to the Economic and Finance Crimes Commission, EFCC, in its probe of Chief Government Ekpemupolo, alias Tompolo, over the alleged N13 billion paid by Federal Government for the acquisition of the Maritime University land in the community. The leaders, who spoke through Chief Micheal Johnny, yesterday in Warri, said now that Tompolo had admitted that the alleged N13 billion was approved by the Federal Executive Council, FEC and Bureau of Public Procurement, BPP, Federal Ministry of Lands and Survey, Federal Ministry of Transport, NIMASA, the EFCC should ask Tompolo why Okerenkoko was paid only N360 million for the land.

Vanguard, MONDAY, DECEMBER 14, 2015—13

Bayelsa poll: APC lauds JTF over report on violence in S-Ijaw As Army recovers 10 AK 47 rifles, others from suspected thugs By Samuel Oyadongha & Emem Idio

ENAGOA—THE All Progressives Congress, APC, in Bayelsa State, weekend, lauded the Joint Task Force, JTF, over the report released on the violence that rocked the cancelled rescheduled election in Southern Ijaw Local Government Area of the state, saying that the report has vindicated the party. The party said though it had raised alarm over the alleged complicity of the Peoples Democratic Party, PDP and its candidate, Governor Seriake Dickson, in the violence and irregularities witnessed during the December 5 and 6 governorship election, it nonetheless, declared that the report released by the JTF alleging the state governor, Seriake Dickson's complicity in the violence that rocked Southern Ijaw was an unbiased and true version of the incident. Meanwhile, the Army, on Saturday, disclosed that troops of Operation Safe Conduct, posted to the state on election duty, apprehended 17 suspected thugs

with arms and stolen Permanent Voters Cards, PVC, during the December 5 governorship election in the state. Addressing newsmen in Yenagoa, Commander of Operation Safe Conduct and Commander of 2 Brigade and Sector 2 of the Nigerian Army,

Brigadier General Stephenson Olabanji, also revealed that 10 AK 47 rifles and ammunition, including 30 PVCs were also recovered from the suspects. Gen. Olabanji, who was accompanied by the state Commissioner of Police, Nasiru Oki, said, three youths were

S A B A — MEMBERS Delta State House of Assembly, representing Warri South-West and Warri South I, Daniel Mayuku and Godwin Abigor, have expressed confidence that the reign of His Royal Majesty, Abiloye Emiko, the 20th Olu of Warri, would usher in greater peace and development in Iwere Kingdom. Also, the members representing Warri South II and Ethiope East in the House, Dennis Omovie and Evans Ivwhurie, also congratulated the Olu on his coronation. They also felicitated with the Itsekiri the world over, on the coronation of a new king in Iwere Kingdom,

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He added that the troops also intercepted a speed boat conveying nine persons with five AK 47 rifles and some ammunition on Olugbobiri River in Southern Ijaw, adding that all the suspects have since been handed over to the Police.

I didn’t collect N100m from Yuguda —Bode George By Dapo Akinrefon

ORMER Deputy National Chairman of Peoples Demcoratic Party, PDP, Chief Olabode George, has denied collecting N100 million from former Minister of Finance (State), Mr Bashir Yuguda, saying it is another blatant falsehood, stripped of any iota of truth. George, who is also the Atona Oodua of Yorubaland, described the claim as “mischievous and deliberately fraudulent.” The PDP leader, in a statement said: “My attention has been

drawn to another mischievous and deliberately fraudulent claim that I collected N100 million from Bashir Yuguda, the former Minister of State for Finance. This is another blatant falsehood, stripped of any iota of truth. This is yet again a depraved continuation of lynch mob journalism orchestrated by an online newspaper.” In an effort to set the records straight, he said: “The salient fact is that very early this year, long before the election period, the party set up Contact and Mobilization Commttee for each zone to reconcile various

Delta lawmakers, Harriman extol new Olu of Warri By Festus Ahon

arrested along Clough Creek Military Check Point in Ekeremor with 30 suspected stolen PVCs, while another five suspects were arrested with 5 AK 47 and ammunitions after exchange of gun fire in Oporoma, headquarters of Southern Ijaw council.

expressing confidence that the reign of the new Olu will usher in new hope for the people and progress in all ramifications. Similarly, former House of Representatives member and All Progressives Congress, APC, chieftain, Temi Harriman, has congratulated His Royal Majesty Ikenwoli I, on his coronation on Saturday. In a statement, weekend, Harriman expressed happiness at the development, saying that the new monarch ascended the throne sufficiently equipped to showcase and stretch the rich culture of Warri Kingdom dating from 1480. “Our role as subjects of the new monarch is to

cooperate with him, pray for him, for it is only under a peaceful atmosphere that can we prosper in the kingdom,” Harriman said. Meanwhile, Mayuku and Abigor joined millions of Itsekiri the world over to felicitate with the new Olu on his coronation as the 20th Olu of the great Iwere Kingdom. The lawmakers said that the ascension of Abiloye Ikenwoli Emiko to the throne of his forefathers marks the beginning of a new era in Warri Kingdom and in the lives of the Iwere people all over the world. They said it was their sincere prayer that God will grant the new Olu the strength, wisdom and good health to rule the Itsekiri people to the admiration of all.

factions and ensure a firm unity of purpose within the zones before the election. I was elected as the Chairman for the SouthWest zone. "The committee which was made up of 18 senior members of the party with distinguished history of honour and exemplary leadership, met at least 10 times in my office in Lagos. These people travelled all the way from every corner of the South-West, with three members representing each state. All of them are very much alive to testify to my assertions. Sometime in the middle of these

deliberations, Yuguda came to me and said the party was reimbursing the 18 elders of the committee for their transportation, accommodation and feeding allowance for the work that was done. “The committee later submitted the report of its deliberations to the party and then wound up .For all these efforts Yuguda gave the committee only $30,000. That was less than N6 million at that time. Yuguda can never claim that he gave the Committee N100 million. That is the figment of the imagination of rascally scribblers purporting to be journalists. Again, facts are sacred.”

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14 — Vanguard, MONDAY, DECEMBER 14 , 2015

CORRUPTION ALLEGATIONS: PDP wants Buhari probed over 1984 security votes, PTF •You are shameless, Lai Mohammed tells PDP By Emmanuel Aziken, Political Editor & Henry Umoru

HE Peoples Democratic Party, PDP and the presidency yesterday reengaged in a war of words over corruption, with the opposition party daring the administration to institute a truth commission to probe utilisation of security votes back to 1984. In an apparent reaction to the fresh spew of allegations against officials of the immediate past administration, the PDP faulted the administration for supposedly engaging in a media trial of the Goodluck Jonathan administration, daring the administration to come clean on how it obtained its own funds for the 2015 elections. The acrimony was further worsened by assertions made by the Deputy President of the Senate, Senator Ike Ekweremadu that the country could be headed towards a revolution given the downward slide of the economy. The administration, responding through Alhaji Lai Mohammed, the Minister of Information flayed the opposition party for its lack of

shame in the face of what he claimed was the ruin of the economy by its leaders. The PDP, while welcoming the investigations of its government in a statement issued by its National Publicity Secretary, Chief Olisa Metuh, however, condemned what it described as a media trial and dared the administration to extend the investigations into the utilisation of security votes to 1984 when President Muhammadu Buhari was military head of state.

*The security votes of past presidents and Heads of state from 1984. *Contract award by the Petroleum Trust Fund from 1995 to 1999. *The expenditure of military purchases and expenditure during the Bakassi wars, the fight against militancy in the Niger Delta, military interventions in Liberia, Sierra Leone, Sudan, Somalia, Rwanda, among others. *The source of funding of the PDP and APC’s 2015 presidential campaigns; the contributions from APC-controlled state governors for Olisa Metuh: their presidential campaign and the “We restate for emphasis that a beneficiaries thereof. media and public war against corruption is good, but it should Ekweremadu: not be limited to only those The highest elected political office opposed to the President and the holder in PDP, Ekweremadu, had ruling party. In fact, until top at a PDP Southeast zonal caucus officials of the former government meeting in Enugu last Saturday open up on the exact source of expressed concern on what he the funding, it remains premature described as the administration’s to be accusing our party members inability to manage the economy of corrupt practices. warning at the prospect of a “Nevertheless, if indeed the revolution breaking out. government’s investigation includes the expenditure of Lai Mohammed : President Jonathan security votes Accusing the PDP officials of from 2011, then it should be living in denial, Mohammed said: extended to a public inquisition “Senator Ekweremadu complained on the following: about the depreciation of the Naira

without telling Nigerians who ‘dollarized’ the Nigerian economy by bribing many individuals and groups with dollars during the last elections, thus inflicting a knock-out punch on the local currency. He also failed to tell Nigerians which government presided over the frenzied mop-up of dollars, either for ‘armsgate’ or for slush

fund purposes, from the CBN to a point where it almost ran out of the hard currency,’’ he said “The outcome of the months of hard work will manifest soon in the 2016 national budget that will give succour to millions of Nigerians who are reeling from fallout of the solecism of the immediate past administration that turned the country into a cash bazaar.’’

Journalist launches crime control initiative

journalist, Adeola Akinremi has launched a mobile-friendly web application located at www.crimeonthego.ng as a solution to crime wave in the country. According to Akinremi, a multi-award winning journalist and columnist, celebrated for his prolific writing, the web application will use crowd sourcing technique to solve and prevent crimes. “Crimeonthego.ng is a web platform for people to report

their daily encounters with crime situations. It’s a form of community policing that’s techdriven. We are empowering citizens to become active participants in crime control and help law enforcement agents to prevent and solve crimes without delays,” Akinremi said in a statement released by Media Direct Limited. ''The features of the site will enable citizens to provide and receive updates on criminal activities in their localities, and at the same time providing useful historical data about crimes in different neighbourhoods and cities in the country.

Vanguard, MONDAY, DECEMBER 14, 2015 — 15

LG POLL: PPA accuses Anambra govt of killing local admin By Chimaobi Nwaiwu

NEWI — PROGRESSIVES People’s Alliance, PPA, Anambra State branch has accused the state government of deliberately delaying the conduct of local government elections in the state because of the money it was making from the councils.

Chairman of PPA in the state, Mathias Ameke made the accusation in Anaku, Ayamelum Local Government Area of the state while addressing newsmen during the one year anniversary of Anambra Good Governance Forum. PPA also accused the state government of gagging the press and preventing opposition parties from the use of state radio and

television and other mass agencies owned by the state to make their voices heard. The party said, “What APGA government in the state is calling good governance and praising it selves with some media houses they have bought over is simply ‘a flash in the pan.’ Unless there is autonomous LGAs system, and until development and power devolves to the grassroots, then

people will agree that there is good governance in the state. “LGAs administration have been rubbished in the scheme of things in Anambra State and that is where the people are, there is no good governance unless there is autonomous LGA system and administration where election is visibly contested, manifestos flung around, mission statements made and whoever wins must do what

Senate defends purchase of vehicles By Emmanuel Aziken, Political Editor

he Senate, yesterday, rebuffed reports of a multi-billion naira car purchase scandal, saying the proposed vehicles are meant for committee work of senators and replacement of the ‘rickety’ fleet of the Senate President, Senator Bukola Saraki. Responding to claims of the imminent purchase of 120 units of Land Cruiser SUVs, 2016 model, the Senate in a statement, claimed that the vehicles would not be for the personal use of the senators. The statement issued by Senate spokesman, Senator Aliyu Sabi Abdullahi Chairman, Senate Committee on Media and Publicity, was in

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response to claims that the purchases were contrary to the monetisation policy of the Federal Government under which the senators were earlier given advances for vehicles. He added that the proposed units for the Senate President were to replace utility vehicles that have repeatedly broken down in the past. In the statement, Senator Abdullahi said: “The vehicles are not meant for individual Senators. They are purchased for the use of the committees. “For those who may want to find out what happened to the ones bought in the past, we cannot expect that after four years, the vehicles will still be in the condition to effectively serve the present committees. The best practice in

government institutions and even private organizations is for official vehicles allocated to top officials after four years of use to be sold at the depreciated value,” Abdullahi stated. “We have been very frugal, responsive and responsible in our spendings. We have also cut down on several expenses. However, there are certain expenses and purchases that are normal in government and any organisation generally. The legislature is not an exception. “With respect to the official vehicles of the Senate President, it should be noted that majority of the vehicles in his convoy are his personal vehicles while some of the vehicles that he inherited, including his official vehicles and the back-up car, are so old

that they are already developing faults and not fit for long journey. "We can recall that on several occasions, his official car broke down. Three instances will suffice here. I remember on a visit to Nasarawa State for a wedding of the daughter of a colleague. Other occasions were at the National Mosque three weeks ago and at the Abuja Airport. “The implication is that the vehicles in his official convoy are so old that they are already causing embarrassment for the Senate. "The media should know that a man of his antecedents will not at this point be excited with purchase of new cars. His official cars are really long over-due for replacement,” Aliyu stated.

he or she promised, then there is good governance."

PDP blasts APC over Enugu caretaker c’ttee

By Francis Igata

NUGU—THE Enugu State chapter of the Peoples Democratic Party, PDP, has lampooned the All Progressives Congress, APC, over what it called the mischievous comment against the plan by the state government to constitute Caretaker Committees to run the affairs of the 17 councils in the state. The state chapter of the PDP said the APC lacks the moral grounds to speak on the matter in the sense that most states controlled by the APC administer council affairs through caretaker committees. The party maintained that there was nothing constitutionally wrong with setting up of the committees under the present circumstances which the state found itself.

16â€”Vanguard, MONDAY, DECEMBER 14, 2015

Olu of Warri coronation

Traditional rulers filing out a\fter the coronation.

HRM. Ogiame Ikenwoli I Olu of Warri on his throne, at OdeItsekiri, Ancestral Home of the Itsekiris, in Warri South Local Government Area of Delta State.

The new Olu of Warri Kingdom, arriving the NNS Delta base for the boat regatta before the coronation

A cross section of guests, watching the boat regatta before the coronation.

From left, Dr. Kachikwu Ibe, Minister of State for Petroleum; Engr. Babachir David Lawal, SGF, and Dr. Emmanuel Uduaghan, former Delta State governor.

Former Vice President, Chief Alex Ekwueme, his wife, and Mrs. Lola Akande, Commissioner for Women Affairs, Lagos State representing the state governor.

Mr A. A. B. Oseragbeje (Apollo'') and Lady Helen Owie. C M Y K

Rear Admiral Princeton Omatsola (ret'd, left) in a chat with HRM, Samson Omene, Ovie of Mosogar, as HRM. Orhue I, Orodje of Okpe, HRM, Prof. Achebe, Obi of Onitsha (right) looks on.

From left, Chief Peter Ukoha, Chief Linus Eluke, Chief Jude Chiedozie, President General of Ohanaeze Ndigbo and Leader of Igbo Community in Delta State, Chief Gabriel Ezeonu, Senior Apostle Eke, Secretary General of Ohanaeze Barrister Kingsley Otuaro, Deputy Governor, Delta State (left) and Sen. Ighoyota Amori Ndigbo Delta Central & South)

Vanguard, MONDAY, DECEMBER 14, 2015â€”17

OLU OF WARRI CORONATION

From left: Dr. Ibe Kachikwu,Group Managing Director, NNPC/Minister of State for Petroleum Resources, Governor Adams Oshiomhole of Edo State, Senator Bola Tinubu, APC National Leader, former Vice President, Chief Alex Ekwueme, and his wife, Sen. James Manager and Hon. Leo Ogor.

Members of the Erigwa Ladies Social Club, welcoming Mr. Sam Amuka, Publisher of Vanguard Newspapers to Ode-Itsekiri for the ceremony.

Dr. Alex Ideh (right) and Lady Helen Owie.

From left: Alex Eyengho, Chief (Mrs) Tesa EgbeIkimi, Chief Adolor Okotie-Eboh, and Mrs. Adolor Okotie-Eboh. C M Y K

HRM, Ovie R.L. Ogbon, JP, Ogoni-Oghoro I, Ohworode of Olomu Kingdom (right) and Admiral Princeton Omatsola (retd.).

Pastor Ayo Oritsejafor and his wife, Helen.

Mrs. Lola Akande, Commissioner for Women Affairs and Poverty Alleviation, representing Lagos State Governor (left) and Mrs. Patricia Arawore.

Boat regatta by Itsekiri communities on the occasion.

From left: Yeye Rewane, Irone Rita Begho and Rose Erewa-Danmole at the event.

18 — Vanguard, MONDAY, DECEMBER 14, 2015 WE are at that time of the year when millions of Nigerians from all over the world and all corners of the nation travel to their native communities to celebrate Christmas, New Year and engage in all forms of family and communal reunion festivities. Each day from this week, hundreds of thousands more people will be travelling than is usual at any other time. They will travel by land, air and water. It is, therefore, important to put the various agencies regulating the safety of all means of transportation on their duty posts and ensure we minimise accidents, mishaps and sufferings of travellers. We are happy to note that the Nigerian Meteorological Agency (NIMET) has already taken the proactive step of issuing reminders to aircraft pilots to beware of the dangers of the Harmattan haze which appears to be more severe than normal this year. The Agency also directs airline operators to

Ensuring Yuletide travellers’ safety comply strictly with the need to obtain information and adhere to weather advisories before, during and after each flight operation. Greater care should also be taken to ensure the safety and comfort of passengers, many of whom are coming from all parts of the globe. The Federal Road Safety Commission (FRSC) which is usually very active at this time of the year should redouble their efforts. In conjunction with the various state Vehicle Inspection Directorates,

they should embark on massive checks of vehicles to ensure their roadworthiness and those of drivers manning them to minimise the prospects of accidents. They should also stand ready when such unfortunate events do occur and ensure that victims have quick access to medical attention. By far the most neglected means of transportation in Nigeria is travel on the waterways. Unlike its air and road transport counterparts where the voices and presence of

safety regulatory agencies are palpable very little is heard of the activities of the Nigerian Inland Waterways Authority (NIWA) in preparation for mass movement of Nigerians during festive seasons. This is not good enough. Since millions of Nigerians can only reach their communities by river craft, more effort should be made to ensure their safety and assist operators and passengers as required. We call on all stakeholders to play their roles and not depend solely on government agencies to provide them safety en route. It is the responsibility of everyone. Travellers must cooperate with law enforcement agencies and offer assistance to one another when the need arises. This is a time of the year when we ignore the negative effects of economic downturn and celebrate love and common bonds. Those who are not travelling should remain safety conscious. To those travelling, we wish you bon voyage.

OPINION

Strategic international communication of President Buhari’s agenda By Chinedu Moghalu

HERE is an ongoing makeover of the international reputation of Nigeria since President Muhammadu Buhari came into office on May 29. He has brought credibility to the governance of the country. The immediate implication is that the international community is now better disposed to working with Nigeria, especially with regard to enhancing security. As U.S. President Barack Obama noted in Washington DC in July, when President Buhari visited him officially at the White House, the Nigerian president is a credible leader and a decent man who is also known for his unwavering anti-corruption crusade. Since President Buhari came into office, Nigeria has emerged as a jurisdiction where government policies are no longer taken for granted. As someone indicated, “a new sheriff is now in town” - market rules have become even more transparent, and infractions of rules and processes are no longer tolerated. These are no mere conjectures. Observers and those with close affinity to the country have begun to note tighter control of the reins of government, mounting pressure on past wrongdoers – which serves as a deterrence to would-be offenders – and regulatory punishments for those who violate market rules. C M Y K

A lot about the misgovernance – real or perceived – requires institutional remodelling and strategic plans at strengthening the state and market institutions. This entails a lot more than what the good reputation of the President can change overnight. Yet, the consequences of misgovernance are with us, either as a people or as a market. They ensure the country remains a paradox. Instead of a straightforward case for investment, because of the breadth and depth of the opportunities, Nigeria’s investment outlook is tainted by disturbing poverty data. Generally speaking, the market is still at an early stage of development, even if we agree that, at a micro level of the analysis, it is not entirely lacking in sophistication. A greater challenge to correcting the perception and impact of misgovernance is the global economy that has been in a roller-

Fellow Africans have become even more important publics of Nigeria’s international public relations

coaster of crisis and weak recovery since the 2008 – 2009 Global Financial Crisis. This means that investors’ appetite for risks remains weak. Moreover, ensuing market volatility makes investors’ attention span very fleeting. When we put this in the context that bad news travels faster and wider, we see a need for a determined effort to sell Nigeria’s Change agenda. So what should be our message? Nigeria’s economy is way broader than oil. Oil currently accounts for just 10 percent of the GDP. A key aspect of the policy push by President Buhari is structural economic diversification and wider export production. Since this agenda was even pursued by past administrations, it means there is something to build upon. Thus, more success can be achieved within a short period, in SME manufacturing, agroprocessing, solid minerals extraction and processing and services which, in actual fact, now accounts for more than 60 percent of the GDP. The point to note is that while we must use the international media in propagating our messages, exclusive use of a handful of outlets creates ‘media authorities’ on Nigeria who tend to misuse the privilege. Happily, the internet and social media have broadened the definition of international media. Local newspaper websites reach people across the geographic regions of the world. Albeit, to effectively reach some relevant target audiences such as global investors, policymakers, academics, ordinary citizens with whom Nigerians in the Diaspora coexist, it would be needful to sometimes syn-

dicate the Change message in a number of Western outlets. However, the communication strategy must recognise the shifts in the global marketplace. Nigeria now needs to engage with the East much more than before. China has since become the world’s second largest economy and Africa’s number one trading partner. As we see with the latest visits of Chinese President, Xi Jinping, to the United States and Britain, China is becoming more important in economic diplomacy and global investment. While China has been noted to overlook domestic politics of its African partners, this does not preclude building more understanding on the brighter Nigerian policy landscape and the opportunities we have for investment with Beijing. The other shift with regard to this discussion is Nigeria in Africa. Nigeria is the continent’s largest economy. While the country has always had political influence on the continent, Nigeria’s economic status has introduced a new dynamic. This means more Nigerians will be working in African countries as our local corporates grow to the rest of Africa. Fellow Africans have become even more important publics of Nigeria’s international public relations. Therefore, one expects that our international campaigns should now also target South African, Kenyan, and Ghanaian media, among others. Beyond fostering normal diplomatic relations, the aim would be to make Nigerian investments and workforce in the region safe from prejudice and other harms.

*Mr Moghalu is Head, Corporate Communications, Nigerian Export-Import Bank

Vanguard, MONDAY, DECEMBER 14, 2015—19 Send Opinions & Letters to: opinions1234@yahoo.com

Orphaned Senate T

HE Senate stands alone. Cold, desolate. and isolated. Open to the elements as showers of criticism rain on it relentlessly from all parts of the country, and even abroad. The Senate’s pains are self- inflicted; it had consciously invited the torrents on its head when it decided to entertain a frivolous bill, “The Bill for an Act to Prohibit Frivolous Petitions and Other Matters Connected therewith”, otherwise known as the Anti-Social Media Bill. All discerning Nigerians, I know, are conscious of the fact that the bill, like doctors will say, was Brought In Dead, BID, but curiously the Senate believes that it is alive or can be resurrected. Subsequently, in the attacks against it, the Senate has had no known friends coming to its rescue, or calling for a ceasefire in this one-sided fight between the Senate and the populace led by the middle class. Also, all credible institutions, including the Presidency, have distanced themselves from the Senate on this issue. The implication is that even if the Senate stubbornly or arro-

gantly sticks to its guns, it is doubtful if the smarter Honourables in the House of Representatives would want to have anything to do with the bill. But if by any fluke, such a bill were to survive the roasting and passes to the President for assent, the Presidency, has already made its position known: it will not support a bill that seeks to abridge or circumvent freedom of speech. So simple logic and commonsense dictate that the Senate backs down and spends its time on more productive matters. The opportunities and powers of the internet are phenomenal. It is the future of the world and it is in our best interest to harness, rather than try to arrest it as the Senate seeks. The challenge of the distinguished Senators should be how to use legislation to make all Nigerians above ten be computer literate, especially when most can operate a cell phone. How do we expand the internet and make access a right? How do we utilize the millions of functional cell phones in the country for literacy and mass mobilisation? The internet en-

courages the blossoming of ideas. It is a theatre of contest and development of knowledge. To seek to punish its usage under any guise, like the Senate is doing, is undisguised backwardness. The Senate should legislate for the construction of mass housing like Alhaji Shehu Shagari and Lateef Jakande did, rather than pass a legislation that will require the expansion or construction of more prisons. Clearly, the Senate, rather than being concerned about the content of some of the postings in the social media, is angry and irritated. Hence its proposal to jail for two years or fine N2 million or impose both on any person whose post is adjudged to set the public against any person, group or government institution. Apart from the bill being illog-

The Senate AntiSocial Media Bill is like a person who rather than take an analgesic for his headache, thinks it is better to cut off his head

The Nigerian Senate and our freedom By Michael Egbejumi-David

N October 1, 2015, the intrepid Governor of Kaduna State, Nasir El-Rufai, announced to the nation that the previous Jonathan government spent some N64 billion on Independence Day celebrations. It turned out that El-Rufai was wildly off the mark; he had greatly massaged the figures. The Jonathan administration actually spent N333, 600, 000 over four years on Independence Day festivities. This correct figure was confirmed by the Office of the Secretary General of the Federation, OSGF. How did the truth emerge? A group called BudgIT Nigeria applied to the OSGF under the Freedom of Information Act. Well, the Freedom of Information Act is in trouble. So also is the Cyber Law. Just a couple of weeks ago in the Senate, the Senate Leader, one Ali Ndume, got up and opined that the Freedom of Information Act as well as freedom of speech “must be looked into.” It got worse. Ali Ndume had been contributing to a debate in the Senate to introduce a bill to restrict and punish social media use in Nigeria! I kid you not. Even Afghanistan and Iran have got it better in that regard. The current government, including majority of representatives at the legislative level, rode into office on the back of a change mantra a lot of which was driven home by (mostly young people on) social media. Now in office, the same people that used and profited handsomely from the social media suddenly find that these tools are abhorrent and negative. It has to be done away with or severely curtailed with associated heavy C M Y K

punishment for infringements as defined by our senators. How’s that for irony? Six months in office I can only remember the Senate for three things: A long and unsavoury leadership tussle; protection of their various allowances and entitlements, including something they called wardrobe allowance; and a very slap-dash ministerial screening exercise. The rest of the time, the distinguished people took prolonged recesses. Now they are back, their first job is to restrict social media use. An All Progressives Congress led Senate! It is beyond mind boggling. The anti-people bill is being sponsored by Senator Ibn Na’Allah of Kebbi State. The most noteworthy thing about Na’Allah, a lawyer and a former car dealer, is that he reportedly bought a plane in 2009 and claimed that it was cheaper for him to maintain his aircraft than to maintain some cars in his garage. Ali Ndume’s grouse was that a while ago, he was accused of providing Boko Haram with some golf buggies. Senator Malaye was particularly bitter about Saharareporters. Also, there was a picture of a champagne bottle adorned with the Senator ’s face suitably flanked by the Senate’s mace that recently made the rounds on social media. Dino didn’t like that. Keeping the details of their bill from some of the more serious-minded senators, this group presented their Anti-Social Media Bill on the floor of the Senate. Amazingly, in just 14 days, their bill got its second reading. Of course Senator Malaye led the debate. Dino used to be an activist of sorts in Nigeria. He was promptly supported by various others; most notably Ali Ndume and one elderly looking Peoples Democratic Party female Senator from Ekiti State. Ekiti is supposed to be the home of well

ical, it is ridiculous that in a country where sections of government think paying the worker N18,000 minimum wage is too high, such a hefty fine can be imposed on the same worker for an alleged social media infraction. That is over nine years of his current pay. But the bill contains far more poison than required to kill the social media. It generally aims to kill the whistle blower and reintroduce the infamous Media Decree which was intended to chain the mass media . Part of this bill says that: “Any person who unlawfully uses, publishes or causes to be published any petition, complaint not supported by a duly sworn affidavit shall be deemed to have committed an offence and upon conviction, shall be liable to imprisonment for six months without an option of fine.” So the issue is not whether the petition is truthful or not. It also states that any person who makes any allegation or publication without a sworn affidavit with malicious intent to discredit or set the public against any person or group of persons, institutions of government, shall be liable to two year imprisonment or a N4 million ($20,000) fine. The Senate Anti-Social Media Bill is like a person who rather than take an analgesic for his headache, thinks it is better to cut off his head. But advising such a person not to sever his head is not to guarantee that he will no longer have headaches. So long as he has his head on his neck, he will have more headaches. But even if the Senate decides that this is the best step to take, the rest of society has

learned folks. Anyway, after their very negatively-charged debate, their selfinduced hysteria and contrived indignation, the Senate President, Saraki, referred the whole matter to a Senate Committee to work out the fine details. This is what the sponsors of the Bill want: •Up to two years in prison or N2 million fine or both for anyone disseminating via text message, Twitter, WhatsApp, or any other form of social media an “abusive” statement. •A sentence of up to seven years in prison or N4 million fine for anyone who intentionally propagates false information through electronic message intending to “set the public against any person and group of persons, an institution of government or such other bodies established by law. •Imprisonment for six months without an option of fine for any person who unlawfully uses, publishes or cause to be published any petition or complaint not supported by a duly sworn affidavit. In other words, do not criticise any government official or institution.

We must all stand up and challenge the tyranny of the privileged; we should never submit ourselves to thought-control; we would never allow our voices to be muzzled because some folks don’t want to be challenged

the duty to prevent it doing so because suicide is a crime. All these is not to deny that there can be frivolous petitions and publications, or that the social media can be used for negative ends. Personally, I am concerned about the level of intolerance. But the solution is to build a counter culture and where necessary, use existing laws like that of libel. There is of course the need for decorum on the social media, but it cannot be achieved by fiat. Rather we have the challenge to develop our traditional etiquette and make it dominate. The struggle starts from the home, school and our streets, not from a draconian legislation that will tear down our fundamental freedom of expression, diminish debates in our polity and water down governance. Even as we debate, there is an unflattering photograph splashed on the social media of the distinguished author of this bill, Senator Bala Ibn Na’allah. In it, he is dressed in ill-fitting clothes good only for an unimaginative clown. I do not think it is good to portray a distinguished author in such light. Under the bill, those circulating such an offensive photograph would have needed only to plea mitigation of their sentence. But I appeal to our highly revered Senate to overlook such a misdemeanor. It should realise that if the bill were to become law, many of those who would use the social media negatively would create fake accounts. It will then be like attempting to catch the wind in your grasp. May the soul of the departing bill rest in peace.

The whole thing beggars belief. Of all the challenges presently confronting Nigeria, our senators are more concerned about the intrusion of, and how they are portrayed on social media. Happily, President Buhari has disowned the Senate and their perfidious bill, and rightly so. The last thing he wants to be reminded of is Decree 4. Personally, I do not know anyone who is not alarmed and disgusted by what the Senate is doing. Already, a group in America has begun to lobby their senators in the US Congress to place our anti-social senators on a No-Fly list - you know, the way such lists are routinely imposed on tyrants and other jump-up dictators across the globe. So where does all of this leave us? We have to fight for our right, that’s where. Already, there’s a feeling that the country is being dragged backwards anyway. When you try to articulate this, you are called a wailer by the Buharideens. But that shouldn’t stop us from getting in touch with our legislative representatives to register our disapproval of the Anti-Social Media Bill. Similarly, we should be pressing whatever is left of the civil society to organise us and themselves into a cohesive opposition to what is looking like a major encroachment on free speech and our collective freedom. We must all stand up and challenge the tyranny of the privileged. We should never submit ourselves to thought-control. We would never allow our voices to be muzzled because some folks don’t want to be challenged in this 21st century. If this is how they feel, they should have steered well clear of public office. There are sufficient provisions in our statutes to counter libel and slander. Let aggrieved senators use that. North Koreans, we are not!

*Mr Egbejumi-David, a commentator on national issues, wrote from Lagos.

20—Vanguard, MONDAY, DECEMB ER 14, 2015

URING the presidential campaigns towards the 2015 elections, many people believed that the Cambridge West African School Certificate released by the Katsina College to prove candidate Major General Muhammadu Buhari’s qualification was a “forgery”. Even I wasn’t so sure of its authenticity, many things about it taken into account. But when you examined the figures recorded as his scores which showed he was a less than average student in academic work, your doubt was a bit doused. An outright forgery would put out Buhari, who had a cult following in Arewa North (and no less in his alma mater) in flying colours. But we saw a student who failed in Mathematics and Woodwork but managed a Pass in English Literature. He barely scraped through college. Happily, in most cases, academic scores do not say everything about the prospects of a young person. Many “first class” graduates often find themselves as misfits when it comes to deploying that brain power to solve problems. Some of them are not even effective teachers. But Buhari, you must admit, went on to be a great success in life. What more is success than when a person rises to the top of his chosen career? How many people have ruled their countries twice, first as military officers and then as elected civilian presidents 30 years later? As successful as Buhari has been, his childhood academic disabilities appear to have continued to haunt him even as an elected president. You will recall that moment of great national embarrassment when he visited US President, Barack Obama. Buhari was a guest at the US Institute of Peace on July 24, 2015, nearly two months after he assumed power. His performance at that fateful forum essentially confirmed that his Cambridge WAEC “feat” 53 years ago was not a fluke. A lady journalist asked our new president how he would handle the issue of “inclusive governance”. Buhari was visibly confused. He turned to the moderator of the event, who took about 30 seconds to explain the meaning of this to him before he faced the cameras once again to address it! At that moment, the school certificate saga flashed through minds of millions of Nigerians. When the President finished telling us how he intended to handle “inclusive governance” he left us aghast. In summary, he told the world that he was not going to run inclusive governance, though he would ensure that whatever the Constitution says he must do he would do it. He propounded a queer mathematical formula – the now infamous Formula “97%/5%”. In mathematical terms, it

‘97%/5%', a formula for national upheaval should be either “97%/3%” or “95%/5%”. But most Nigerians did not bother to go picking nits on Buhari’s math: they understood what he meant. He actually went ahead to explain it for avoidance of doubt. He said he would give the lion’s share of the goodies of his government to those who laboured, “made sacrifices” and mobilised voters to install him in power. He described this as “political reality”. When he started gathering people to form the base of his government who did we see? We saw the President’s kinsmen and women, people of his ethnic or cultural stock, people of the North, mostly Muslims dominating the critical centres of the Presidency, the Federal Bureaucracy (ministries, departments and agencies, especially where a lot of power and money pass through), the electoral umpire, the security apparatus and state agencies of coercion. By the time the

Buhari’s “Formula 97%/ 5%” is unconstitutional, unpatriotic and partly responsible for the agitations for self-determination in the South East and parts of the South-South. The president must put away this evil formula and toe the path of nationalism, patriotism and constitutionalism

constitutionallydecreed sharing of ministerial positions came, Buhari’s “people” had grabbed the pole positions of the Federal Government. When Nigerians complained, his presidential spin artists said Buhari had “carefully chosen people he knew and trusted” for these strategic posts. This did not help matters because it simply painted a picture of the President as a man who did not know many people outside his native cultural Muslim North, even after his successful career as a senior military officer, former head of state, former Executive Chairman of the Petroleum Trust Fund and four-time presidential candidate. It was an indictment that portrayed Buhari as a man not fit to be president of Nigeria. If Buhari gave strategic kitchen cabinet positions to people he knew and not just his kinsmen and regional acolytes, how come that core All Nigerian Peoples Party, ANPP, purists like Chief George Moghalu were not remembered? Moghalu has been with the political movement that has now become the APC even before Buhari joined politics in 2003. I remember a former ANPP governorship candidate from the South East who sat in the same car and campaigned with Buhari when the former presidential candidate of the defunct party toured the zone in 2007. He related his experiences to me: “Do you know that three days after the South East tour when we went for a rally in Abuja and I went to greet this man, he did not know me again!” In anger, he left the ANPP for the All Progressives Grand Alliance, APGA. The truth of the matter is that if Buhari cared to know and cultivate people outside Arewa North he had ample opportunities to do so. Olusegun Obasanjo, his co-traveller, cultivated people from across

the divides and had no problem at any time forming a broad-based government both at kitchen cabinet and ministerial levels. Buhari’s apologists were fond of saying that he was right to give powerful positions to those who helped make him president. They were correct, but within reason. He could be justified to return favours, but there is no justification for the exclusion or marginalisation of any part of the country. There is no doubt that Buhari followed his formula “97%/5%” and gave the North more than its fair share of governmental positions while shutting out the South East. He displayed barefaced favouritism. He even gave more to the South-South which, like their South East neighbours, did not vote for him, while relegating the South West, the region that put him in power, to the background. Even if he can justify sidelining the Igbos for preferring former President Goodluck Jonathan, what about the Yorubas who gave him the alliance and votes that put him in power? In a civilised, democratic society you do not sideline a section of the country because they did not vote for you. The majority vote you get is to enable you serve the whole country through the implementation of your campaign promises. That a section of the country did not vote for you only means they preferred the programmes or candidate of the party of their choice. The only thing they can lose when you come to power is that you implement your party’s programmes and not those of their preferred party. You do not exclude even your party members because they come from a section where you did not win. Buhari must be reminded that the presidential office he is occupying belongs to all Nigerians. The public resources he is disbursing belong to all Nigerians and should be used to cater equitably for all, not just his kinsmen and “those he knows”. The Constitution that empowers him to be our president commands that he must give all Nigerians their due and not run the country in a manner that will favour one section more than the others. Buhari’s “Formula 97%/5%” is unconstitutional, unpatriotic and partly responsible for the agitations for self-determination in the South East and parts of the South-South. The President must put away this evil formula and toe the path of nationalism, patriotism and constitutionalism. *ON THIS NOTE, I CLOSE SHOP FOR THE YEAR FOR MY ANNUAL VACATION. SEE YOU IN JANUARY 2016. MERRY CHRISTMAS AND A FABULOUS, HAPPY NEW YEAR IN ADVANCE!

OPINION Re: With Esama, Oshiomhole has over-stepped rian Observer, certainly he wouldn’t claim ignorance of Omohis bounds Ojo’s tenure as the State Commissioner for Transport in the present By Usman Abudah

T usually turns out to be an interesting reading, interviews with politicians who readily blurt out funny comments that are not thoughtful and cannot be adjudged to be helpful to communal politics like the recent one of Mr. Orobosa Omo-Ojo (in the Vanguard of Saturday, December 5, 2015.) in which he was described as a journalist, publisher, a frontline All Progressives Congress, APC stalwart and former Commissioner in Adams Oshiomhole government in Edo State. With the above description, I suppose he is still the same Orobosa Omo-Ojo, who along with one Emeka Ogbeide were assigned by the then Lucky Igbinedion government to turn the state government owned Nigerian Observer newspaper around? We are all living witnesses to the messy sickening situation the paper was abandoned – worse than as the duo met it. I really find it irritating to read comments by some individuals who were given the opportunity to perform and at the end, loopholes were created for questions to be asked. I equally find it painful to understand, why in this era of journalism, searching questions are never put during interviews bordering on past public performances. Specifically, the Vanguard reporter who interviewed Mr. OmoOjo was, perhaps not aware of Mr. Omo-Ojo’s tenure at the NigeC M Y K

Governor Oshiomhole’s Executive Council. The reporter didn’t find it as a professional responsibility on behalf of his numerous readers to, among other questions, ask the former Commissioner what led to his exit from the State Executive Council. In any professional calling, individuals are at liberty to create titles for themselves. In journalism, one could carry the toga of a publisher, but the proof in the title is judged by its reputation, regularity on the vendor’s stand and above all, the contents and educative pursuits of such a title. The ruining of any calling could be checked with the realistic defence of such a body by its practitioners, whose reputation has been tested and found not wanting, but the JOURNALISM calling has, for decades suffered a profound set back because of the inability of the various branches to put in place a defensive concrete wall around its image.

In reference to the interview in question, I find it quite uncalled for to dwell on it other than to say this: An individual’s opinion can sway the support of thousands of voters in opposing political parties and this view is based on how seriously such a talker is judged. It’s an open factuality that any realistic registered voter when

The three Senatorial districts of Edo State are in individualistic positions to assess Oshiomhole’s service

asked to judge Governor Oshiomhole’s performance in Edo State, would certainly score him HIGH, unless hunger blindfolds such voters to go for the negative side. The “rice man’s” advertorials to a realistic Edo citizen, would point to nothing other than rural Nollywood acting. What are the researched data that have established that even the Esan people would give him nomination? Sweet talks never create acceptability for a drowning character. Simply put, the three Senatorial districts of Edo State are in individualistic positions to assess Oshiomhole’s service and certainly not political grammar scripts as beautifully delivered by Mr. Omo-Ojo in the interview. I had compelled myself to observe elsewhere that both the Esama and Governor Oshiomhole have no personal scores to iron out, other than giving what is due to the government on behalf of the people. Who creates bounds for people to under-step or over-step? Not Mr. Omo-Ojo. Holding his recent chat with the Vanguard under his armpit to deliver or read to the Esama’s hearing is neither helpful to the issue of rate settlement. Declaring his claimed exchanges with Governor Oshiomhole before the reading public only unveils Mr. Omo-Ojo’s tactlessness in politics. If you are with one in a battle field as your Commander, you either fight along with him as your Commander, or become a run away soldier, but certainly cannot put in place a countering-one sector Commander who will fall in no given time. I am certainly looking forward to see Mr. Omo-Ojo’s next political level, unlike his past two callings. He should score himself for the public to judge. *Mr Abudah, a journalist and documentalist, wrote from Benin City, Edo State

DECEMBER 14, 2015

CBN halts branch operations by bureaux de change Orders closure of branches within 90 days Bans relationship with street currency hawkers To saction BDCs operating outside registered office BY JONAH NWOKPOKU

HE Central Bank of Nigeria, CBN has ordered bureaux de change (BDCs) to close all branches within 90 days, saying branch operations is no longer allowed in the subsector. This directive was contained in the revised guidelines for BDCs released on Friday by the apex bank. According to the guidelines, issued via a circular titled: ‘Revised Operational Guidelines for Bureaux De Change in Nigeria’,

"Bureau De Change is Licenced as a unit institution. No Bureau De Change shall have a branch office outside its registered office. All Bureaux De Change that under the 2002 Guidelines have branches are required to close such branches within 90 days of the 2015 guidelines." The CBN also banned BDCs from business relationship with street traders in foreign currencuies. It stated: "Similarly, it shall be a ground for the revocation of Licence should any street trader in foreign currencies

be found to have any business relationship with a Licenced BDC.

Application for licence

According to the circular, “A formal application to the CBN Governor to grant the promoters an Approval in Principle to carry on the business of a Bureau De Change in Nigeria (shall be made). The application should be addressed to the Director, Financial Policy and Regulation Department (FPRD), Central Bank of Nigeria. Applicants/promoters shall attach to

their application the following documents: A non-refundable application fee of N100, 000 or such other amount as may be determined by the Bank from time to time in bank draft payable to the Central Bank of Nigeria;  Evidence of payment of the prescribed minimum capital of N35 million or any other amount as may be determined by the CBN from time to time, into the designated CBN account. The Bank shall refund this amount with interest after the proposed institution has obtained its final licence; A copy of the draft Memorandum and Articles of Association; A letter of intent to subscribe to the shares of the proposed Bureau De Change signed by each subscriber; A copy of the list of the proposed shareholders in tabular form showing their business, and residential addresses and the names and addresses of their respective bankers, as well as the details of their Bank Verification Number (BVN).” It further stated that, “Promoters shall reserve the proposed company’s name at the Corporate Affairs Commission (CAC) as no proposed Bureau De Change shall incorporate/ register its name with the Corporate Affairs Commission until an approvalin-principle has been obtained from the CBN, a copy of which shall be presented to the Corporate Affairs Commission.”

Requirements for final licence

CONFERENCE: From left, Aigboje Aig-Imoukhuede, President, Nigerian Stock Exchange (NSE); Gbenga Oyebode, former chairman, Access Bank Plc; Akinwunmi Ambode, Governor, Lagos State, and Herbert Wigwe, GMD/CEO, Access Bank Plc, during the Access Leadership Conference 2015 with the theme “Leading in a Transformational World: The Imperative of Innovation” in Lagos. PHOTO: AKEEM SALAU C M Y K

The circular further noted, “Not later than six months after the grant of AIP, the promoters of a proposed BDC shall submit application for the grant of a final licence to the Governor, Central Bank of Nigeria, Abuja, with the following documents: Evidence of payment of anon-refundable licencing fee of N1 million only or any other amount as may be determined by the CBN from time to time; the names, designations and signed Curricula Vitae (CV) of the proposed members of the top management; Evidence of

Continues on page 22

22 — Vanguard, MONDAY, DECEMBER 14, 2015

Cover

Breaking the Nigerian Poverty Cycle through Entrepreneurial Revolution (2)

INVESTITURE - From left, Mrs. Azeeza Munzali, Prof. Munzali Jibril, new President and Chairman of Council, and Dr. Nelson Uwaga, immediate Past President, Nigeria Institute of Management during the investiture of the new President in Lagos.

CBN halts branch operations by bureaux de change Continued from page 21 incorporation of the company with CAC; evidence of payment of N35 million mandatory caution deposit, or any other amount as may be determined by the CBN from time to time, into a designated CBN account; evidence of having suitable office accommodation for the operation of the proposed BDC.”

Financial requirements

According to the circular, the financial requirements, which may vary at the discretion of the CBN, are as follows: “Minimum paid-up share capital-N35million; Nonrefundable application feeN100, 000; Non-refundable licensing fee-N1 million; Mandatory caution DepositN35 million; Non-refundable annual licensing renewal fee [payable not later than30 days after the end of each calendar year]-N250,000; Nonrefundable change of name fee-N100, 000”

Operations of bureaux de change

On the operations of BDCs in Nigeria, the circular said: “Every BDC in Nigeria shall deal in bank notes and coins, plastic cards and such other businesses as the CBN may approve from time to time; The foreign currencies dealt in by a BDC shall be derived from private sources and such other sources which may include the CBN window as determined by the CBN from time to time for the purpose of funding Business Travel Allowance [BTA] and Personal Travel Allowance [PTA]; Any C M Y K

person/individual wishing to sell foreign currency above $10,000 or its equivalent to a BDC shall be required to disclose the source; Transactions shall be on spot basis (immediate settlement), adding “For the avoidance of doubt, forward transactions by BDCs are not allowed; The maximum amount per transaction for a BDC shall be determined from time to time by the CBN with respect to business and personal travel allowances. The maximum amount currently for PTA and BTA per quarter is $4000 and $5000, respectively; All sales or purchases of foreign exchange shall be properly documented and recorded as may be required by the CBN. Such documents should be arranged sequentially and be made available to CBN and other regulatory authorities on demand, etc.”

Ground for licence revocation

The guidelines further stated: “Every BDC shall transact business at its

Every BDC shall be required to open both domiciliary and Naira accounts with Authorized dealers in Nigeria and inform the CBN accordingly

registered office approved by the CBN as any BDC that operates outside its registered office shall be sanctioned. Similarly, it shall be a ground for the revocation of Licence should any street trader in foreign currencies be found to have any business relationship with a Licenced BDC. Every BDC shall fix its hours of business which shall be clearly displayed in its office. Every BDC shall be required to open both domiciliary and Naira accounts with Authorized dealers in Nigeria and inform the CBN accordingly. The accounts shall be used solely for day to day operations.”

Non-permissible activities

According to the circular, non-permissible activities for BDCs include: “Engaging in off-shore business or maintaining foreign correspondence relationship; Engaging in any trade related import activities; Maintaining a foreign account in whatever form; Round-tripping of foreign exchange [currency] acquired through the CBN window; Street trading of foreign exchange; Carrying on capital market activities; Any other activity as may from time to time be termed “nonpermissible” by the CBN.” It also warned that “Bureau De Change is licenced as a unit institution” And as such, “no Bureau De Change shall have a branch office outside its registered office. All Bureaux De Change that under the 2002 Guidelines have branches are required to close such branches within 90 days of the 2015 guidelines.”

hatcher’s radical policies, successfully adapted across the US, Europe and large parts of Asia, sparked off a new world order and confirmed the evolution of global economic powerhouses. For a uniquely placed country like Nigeria, blessed with resources but hexed with endemic problems, these events hold tremendous relevance and opportunity. They are also crucial to Nigeria making progress towards the United Nation’s Millennium Development Goals of eradicating hunger and poverty and improving environmental sustainability, among others. The first lesson for Nigeria of course is the need for fundamental changes in outlook and practices with regards to promoting entrepreneurship as a means to permanently overcoming poverty and achieving grassroots development. Of equivalent importance is upgrading infrastructure and improving access to social services, especially health and education. The World Bank outlines a three-pronged strategy for Nigeria to meet this challenge, which includes:   

Establishing a viable macroeconomic configuration that optimises incentives to the widest citizen base. Prioritising accountability as a means of encouraging entrepreneurship and the subsequent delivery of quality services to the population. Adapting policy and public expenditure conventions suitable to promoting efficient growth and enhanced productivity in a way that brings tangible benefits to the poor.

Some of these suggestions have already been adopted. In 2003, the Nigerian government set up the National Economic Empowerment Development Strategy, in line with IMF poverty reduction policies, to achieve better fiscal management. The same year, fuel prices were deregulated and Abuja announced the privatisation of four national refineries. The current global economic downturn is certain to wreak further havoc on Nigeria’s fledgling and often floundering economy. What will determine the final outcome of its nascent entrepreneurial revolution, to borrow a statement from Apple honcho Steve Jobs, is the amount of perseverance is backs it up with. A viable economic agenda for Nigeria that allows rapid entrepreneurial progress has to focus on fundamental adjustments: 

Creating a pro-active socio-economic environment that encourages creative and viable entrepreneurship from the grassroots level to onwards. Identifying and correcting infrastructure deficits and systemic imbalance inimical to small business.



Developing a credit regime – through relevant financial and industrial policy changes – that is sympathetic to small business realities. Promotion of lending through equity, and not debt, is of critical importance.



Removing administrative and trade barriers while simultaneously enhancing technical support and capacity building assistance for both existing and emerging entrepreneurs.



Mobilising the country’s significant human resources pool by revamping the education sector to provide vocational, administrative and skill development training to rural and urban youths.



Creating efficient and effective mechanisms for regulation and oversight of enterprise-development initiatives in general, and microfinance institutions in particular.



Maintaining political stability and authority of democratic institutions; fighting corruption and building social consensus on important issues to ensure broad-based success of macroeconomic policies.

Vanguard, MONDAY, DECEMBER 14, 2015 — 23

here is usually the belief that investors avoid Nigeria due to lack of infrastructure. This has led government and many well meaning Nigerians to always focus their thoughts on building infrastructure. While it is true that infrastructure facilitate investment, it also aids economic development. The greatest challenge facing the country in terms of foreign direct investment is the obsolete nature of Nigerian laws that do not conform to 21 st Century economy. Investors have long complained of the lack of sanctity of contract and respect for property right in Nigeria. Nigeria instead of attempting an overhaul of the legal and judicial system to make Nigeria investmentfriendly, they rather focus on what they have been made to believe is the problem. When the Nigerian telecommunication space was opened to private sector investors, many were deceived by the report the World Bank gave to them. But MTN, Econet as Airtel was called then, took the risk. Despite the gloomy picture of lack of infrastructure, telecom companies are making profit from their investment. It is the same story with the oil companies and many others that have invested in Nigeria. The Senate President, Dr. Bukola Saraki seems to have understood the economic bottleneck the nation is facing and last week, promised the business community that the Eighth Senate of the Federal Republic of Nigeria will tackle the problem. Delivering a speech titled: 'Macroeconomic outlook for 2016 and legislative perspective' at Lagos Business School Breakfast Club end of the year dinner, Dr. Saraki told the august gathering of key business operators in Nigeria that the 8th Senate is at an advanced stage of carrying out one of the most far-reaching legislative reviews ever embarked upon by the legislature in Nigeria with the Doing Business Development

Can Saraki really push for a modern economy for Nigeria?

•Saraki project which is aimed at eliminating obsolete business regulatory laws that have outlived their usefulness and in their place, provide adequate legal, institutional and regulatory mechanisms to drive a new modern economy. He said: “Prior to this, we have strategically utilised formal and informal meetings with key stakeholders including the NBA, the SEC, RMFAC, the ICPC, FIRS and many other relevant agencies of government and

critical industry leaders, with a view to using gathered information as a critical tool to fashioning out what will make Nigeria a favourable investment destination. For th the 8 Senate, we can no longer accept the placement of Nigeria at 169 of 189 countries on the global ranking of business competitiveness. Therefore, the task of modernising the Nigerian economy and providing the regulatory environment for ease of doing business is for us a task that must be done

in order to set the stage for meaningful economic growth. As operators, we need your partnership on this important assignment to ensure that your concerns and views are adequately captured.” The question to ask Dr. Saraki is: Will the review be comprehensive enough to include property right, land use act and sanctity of contract? Will the National Assembly pass laws that will fasttrack the judicial process of seeking redress on commercial and trade disputes? Globally, investors are interested in places where return on their investments is high. Nigeria certainly qualifies as investors have found out that they reap higher benefit if they invest in Nigeria. The few that have done so have found this to be true. Yet, Nigeria is not a haven to foreign investors. There must be reasons why they shy away from Nigeria. Many investors out there who speak privately to Nigerians at investment fora are quick to point out that in Nigeria, there is no sanctity of contract and property rights are not clearly defined. Most foreign investors see this as the most inhibiting factor that scares away wouldbe investors. They are not worried about the lack of infrastructure as is always claimed by those who explain away the Nigerian situation. Shell, Mobil, Chevron,

MTN, UACN and others know too well the infrastructural deficiency in the country, yet they invested and are reaping the benefits. The truth is that both local and foreign investors are wary of investing in Nigeria because the state and its agents have no respect for property rights and sanctity of contracts. They are worried that if they invest in Nigeria, their investment can be taken over by the state. The termination of Lekki Concession agreement by Lagos State Government, the taking over of private banks by the Sanusi-led CBN, the revocation of the concession granted to Bi-courtney are examples of such impunity that scare investors away from Nigeria. Property rights, according to Professor Pat Utomi, constitutes a major part of the constitutional arrangement that makes an economy advance. Now, until this entity called Nigeria has a philosophical understanding of what property rights means, Nigeria is not going to make any major economic progress. To say the least, investors are scared and skeptical about Nigeria because there is impunity and property rights are not guaranteed. Will the Saraki-led Senate give Nigeria legislations that will resolve all of these? Nigeria will be a better place to do business if the laws to be reviewed are carried out quickly and include the review of the land use act and a well defined property rights is enshrined in the country.

Business & Economy Financial scandal rocks Head of Service Staff Co-operative BY FAVOUR NNABUGWU

fficials of the Cooperative Society of the office of the Head of Civil Service of the Federation have accused its President of mismanagement and misappropriation of fund. Financial Vanguard investigations revealed that over 1,600 members of the Head of Service Cooperative Society are calling for the intervention of anti-graft authorities to investigate the refusal of the President to relinquish his position 22 months after he

retired from the Service. In a letter addressed to the President, Joint Union Negotiating Council in the office of the Head of Service dated January 5, 2015, the members appealed for intervention in the crisis that has rocked the cooperative since the president, Mr Stephen Esezebor got on aboard. The letter which was duly signed by the 39 members of the cooperative reads, “Permit us to kindly draw the attention of your office to the lingering crisis that has been rocking the operations and general administration of the Cooperative Thrift and

Credit Society (CTCS) of the Office of the Head of Civil Service of the Federation. This crisis has assumed an unresolved dimension hence the need for this SOS (Save Our Soul) letter. “Mr. Stephen Esezebor, now a retired civil servant has held sway as the President of the Cooperative for many years while in active service and was expected to have relinquished power to a successor just before his retirement but blatantly failed to do so, held onto power unduly thereby aggravating the avoidable crisis that has rocked the boat

of the Cooperative hitherto. “Mr. Stephen Esezebor, not willing to handover the affairs of the Cooperative, and also not willing to end the crisis, resorted to legal means as he headed for litigation in the Court of law which we have viewed as just a strategy to undo so many things to his personal interest. Worst still, is the apprehension that our hard-earned savings in the Cooperative accounts would have been grossly tampered with. This is obvious as members who applied for loans no longer get them, those who retired from the service can not access their

life- savings. "The Cooperative society accounts with Ecobank, United Bank for Africa, Diamond Bank and GTBank are still being operated by Mr Stephen Esezebor who retired from the Service in February 2014. “We undersigned stakeholders and concerned members, on behalf of the entire members of the cooperative therefore considere it imperative for your good office to wade into this crisis that has done nobody any good.” The Audit Committee of the cooperative had in 2012 written to the Head of Civil Service of the Federation on alleged mismanagement and misappropriation of funds. C M Y K

24— Vanguard, MONDAY, DECEMBER 14, 2015

Business & Economy

Airlines profits to hit record levels in 2016 — IATA

ow oil prices and healthy demand for travel will boost airline profits again in 2016, the International Air Transport Association has said. IATA, which represents almost 260 airlines accounting for 83 percent of global air traffic, said net profits would reach record levels of 36.3 billion dollars in 2016 after 33 billion dollars in 2015. It said over half of the profits would come from North American carriers. The Geneva-based association had previously forecast airline profits of 29.3 billion dollars in 2015. “It is a good news story,” IATA Director General, Tony Tyler, told journalists in Geneva. Tyler, however, said that the industry profits were still best described as fragile rather than sustainable. Demand for travel has been booming in 2015, thanks to improving economies and lower fuel helping to boost spending, especially on leisure trips. “We should enjoy the benign trading conditions while they last, but it would be a mistake to start to get used to them,” Tyler said.

Land border rice import: Customs rakes in N1.178bn in 2 months

igeria Customs Service, NCS, has recorded a total revenue of N1,178,720,376 on rice Imported through the land borders in October and November 2015. During the same period, the total quantity of rice imported through the land borders stood at 17.596 Metric Tonnes. A press statement signed by Customs Public Relations Officers, Wale Adeniyi, noted that the figures were disclosed at a strategy session convened by the Comptroller-General of Customs, Col. Hameed Ali (Rtd) to review revenue performance for the year. Adeniyi stressed that it is important to note the revenue collected was during the period the Comptroller-General of the Service had approved the removal of the restriction placed on importation of rice through the land borders.

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Airports, UNFCCC enter deal on climate neutrality By GODWIN ORITSE

partnership to cut emissions from airports and take the industry towards climate neutrality has been launched. The partnership was signed at COP21 in Paris by the United Nations Framework Convention on Climate Change (UNFCCC) and Airports Council International (ACI), which developed the Airport Carbon Accreditation programme. Emissions reductions will be achieved through use of energy-efficient lighting, cooling and heating systems, solar energy, climate-friendly ground transportation and a wide range of other measures aimed at climate neutrality. ACI will support the UNFCCC’s initiative, while the UNFCCC secretariat will support airport carbon accreditation, whereby airports measure, report and reduce their emissions. The two organizations will develop a common work programme and communications plan promoting carbon neutrality. UNFCCC will join the advisory board of the Airport Carbon Accreditation programme, which aims to increase the number of airports graduating to carbon neutral status. In the past 12 months, 137 airports worldwide, representing 31 percent of global passenger traffic have earned ACI’s “airport carbon accredited”

status. There are currently 20 carbon neutral airports. The partnership announcement follows the commitment by the European airport industry last week at COP21 to increase the number of carbon neutral airports to 50 by 2030. “It is immensely encouraging to see an industry as visible and strategically relevant as the airport industry being so proactive on climate action,” said John Kilani, Director, Sustainable Development Mechanisms programme, UNFCCC secretariat. “What ACI has achieved through airport carbon accreditation over the past six years is inspiring – to mobilize 137

airports in the journey towards carbon neutrality is an example that many other industries could learn from.” Angela Gittens, Director General ACI WORLD and Olivier Jankovec, Director General ACI EUROPE in a joint statement said “Today is a very big day for ACI and Airport Carbon Accreditation. To gain the support of an organization as authoritative as the UNFCCC is something we consider a major achievement and a genuine recognition of the contribution of the airport industry to the climate action through Airport Carbon Accreditation. We are delighted to be partnering with UNFCCC and look

forward to their input in the Advisory Board of the programme.” Launched at Climate Week in New York in September 2015, Climate Neutral Now encourages countries, industries, organizations and even individuals to measure their emissions, reduce what they can and offset the rest with quality projects in developing countries. The Intergovernmental Panel on Climate Change has estimated that aviation accounts for about 2 percent of global CO2 emissions. Of that figure, airport operations account for up to 5 percent. For more information about the Airport Carbon Accreditation programme, including key results,

AWARD - From left: Director, MTN Foundation, Mr. Dennis Okoro; MTNF Science &Tech Beneficiaries, Ms. Seun Akinfolarin and Onyeonoro Praise; and MTNF Executive Secretary, Ms. Nonny Ugboma at the Award Ceremony of the MTNF Scholarship Scheme 2015 in Lagos.

LIRS shuts four firms over N6.86 million tax debt

he Lagos Internal R e v e n u e Service (LIRS) said it had shut four companies over non-remittance on N6.86 million workers’ personal income taxes. Mrs Ajibike Oshodi-Sholola, the Head, Distrain Unit of the LIRS, disclosed this to the News Agency of Nigeria (NAN) in Lagos. According to her, the firms were closed during a statewide tax law enforcement exercise on Thursday, last week. Oshodi-Sholola said that the four companies’ total tax liabilities were only for 2012 audited results. She said that the affected

companies included hotels, electronic shop, shipping company and fashion firm. The head of the distrain unit said that some of the affected companies had started paying the 2015 taxes, but had not paid for 2012, 2010 and 2011. She said that some firms would pay for the current year without paying for the previous years. According to her, the companies were doing this by thinking government will forget, overlook or wave tax payment of past years. “It is wrong to bypass tax payment of any year because government will not forget its money. Certainly, the

government will come for the taxes one day. And pilling up the taxes may make the amount to accumulated so high that it may be difficult for the company to pay,” she said. She said that some companies were out of business because their tax liabilities had accumulated such that they were unable to pay the debts. Oshodi-Sholola urged firms operating in the state to ensure that they regularly remit their workers’ taxes to the service to avoid the embarrassment and disruption of their operation. “Ensure your company is upto-date with its tax payments and always make available all

necessary documents in respect to the companies’ tax issues in case LIRS visits. Tax-payment is a civic responsibility of everyone because it is a major source of government’s revenue. “It also the only way government can provide the basic amenities for the citizens to improve their living standards,” she said. Some of the affected companies, however, complained that LIRS was not giving them fair hearing. They said that they did not receive letters from the LIRS in respect of its plan to seal their companies.

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Banking & Finance

Access Bank leads innovation advocacy to transform Nigeria’s leadership By Jonah Nwokpoku

ccess bank Plc has led the call for Nigeria to adopt innovative approaches in its bid to transform its leadership for a better, prosperous society. The Chief Executive Officer/ Group Managing Director, Access Bank, Herbert Wigwe made the call while speaking at the 2nd Access leadership conference held in Lagos. According to Wigwe, the question around leadership and innovation is perhaps more pertinent in Nigeria today that just had a successful transition into a new leadership. He said: “If we can change the world with very simple question, what if? What if our literacy rate in Nigeria is 100 percent? What if everyone in Nigeria had access to education? What if the fight against malaria and HIV was won? What if our infrastructure enabled economic success and opportunities for all Nigerians? And the banking industry could contribute to all these lofty goals by providing the best quality products and services at the cheapest prices for all Nigerians. This conference will enable each and every one of us to ask the question, what if? The question around leadership and innovation is perhaps more pertinent in Nigeria today that just had a successful transition into a new leadership.” While noting that the conference brought together global business leaders, innovators, entrepreneurs, politicians, civil society leaders to discuss important topics that affect all sectors, he added, “Despite the fact that there are global differences and economic challenges all over the world, there are also significant opportunities which we must all grasp both for home grown talents and for international investors. Whereas such an environment may bring its own challenges to the business world, we also know that such environment will create tenacious leaders, courageous politicians and innovative chief executives. C M Y K

PROMO - From left, Ebere Nwaolikpe, Assistant Marketing Manager, Western Union (ECOWAS); Mrs Olukorede Demola-Adeniyi, Head, Personal Banking, Ecobank Nigeria; Prince Adewale Oladiti (one of the lucky winners of ‘Ecobank-Western Union Double your money promo), and Daniel Onyemenam, Deputy Manager, Regulatory and Monitoring, National Lottery Regulatory Commission, during the draw, in Lagos.

Financial crimes threaten global economy system —DPPF BY ONOZURE DANIA

he Director of Public Prosecutions of the Federation (DPPF), Federal Ministry of Justice, Mr. Mohammed Saidu Diri has said that organised crimes and financial crimes are the major threats to the global economic system. He said that organised crimes and financial crimes, which have taken the centre stage in the global world, entails intricate layers of criminal conspiracy and responsibility, with cross border implications as different components of “predicate crimes.” Diri disclosed this during the 2015 Capacity Building Workshop for Law and Enforcement Agencies organised by the Nigeria Deposit Insurance Corporation (NDIC), in L a g o s . The two-day workshop had in attendance, the Law Enforcement Agencies which includes the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Nigeria Police, Federal Ministry of Justice etc. was held at Golden Tulip Hotels, Festac, Lagos. The public prosecutor, who was represented by Mr. Ernest Ezebilo stated that the investigation of financial crimes in this high-tech globalised world required men and women of sound technological know-how and that such level of skills can only be possible through capacity building

programmes such as the one organised by the NDIC. “Financial crimes and Terrorism are criminal acts that are inextricably intertwined and in this era of terrorist attacks on Nigeria and her citizens, terrorist financing is the most deadly act of terror as without the financial capability, the terrorists cannot carry out any attacks. “Money laundering as a form of financial crime has become

a phenomenal criminal activity as almost all proceeds of financial crimes are laundered to safety, until our law enforcement agencies are equipped to trace, find and recover all proceeds of crime, the criminals will always be ahead of the public security institutions”, Ezebilo said. Diri further encouraged the agencies not to relent in the fight against corruption, adding that they should be

steadfast and never give up on their mandate, as corruption is the bane of the country ’s national development and that Nigerians are counting on t h e m . “Corruption, I cannot in all honesty address you without mentioning this issue, most importantly because it is the bane of our national development but most practicably because it falls within your mandate. The current administration of President Muhammadu Buhari has decided in words and in deeds to purge our dear country of this cankerworm that has hindered us from attaining national development commensurate to our economic fortunes. The president and indeed Nigerians are counting on all of us”, Diri stated. Earlier in his keynote address, the Managing Director/Chief Executive Officer of NDIC, Alhaji Umaru Ibrahim lamented incessant fraud in the banking system, in Nigeria, stating that this has continued to be a great concern to the Corporation going by the magnitude of losses recorded over the years. Ibrahim, who was represented by Alhaji B.D Umar noted that the experience with those banks that were closed between 1994 and till date clearly illustrated the trend and the damaging impact of fraud on the affected banks. “Many of the banks under liquidation as well as many in operation have suffered a great deal from the impact of fraud.

Rödl& Partner integrates with WFO Professional Services R

ödl& Partner, a global professional services firm providing audit, legal, tax consulting, BPO, management and IT consulting, has further strengthened its presence in Africa with the admittance of WFO, a fast growing group of firms providing audit, tax and advisory services in Nigeria and Ghana. Rödl & Partner offers a unique approach to the opportunities of the African markets: a multi-disciplinary, one-stop shop firm of lawyers, accountants, tax specialists and management consultants – entirely focused on the needs of foreign direct investment and truly integrated services for private investors, international financial institutions and governmental agencies in Africa. Rödl & Partner supports German and other multinational businesses, wherever in the world they might be.

WFO is the brand through which WFO Professional Services LP (Chartered Accountants), WFO Advisors Limited (providing tax and advisory services) and Lekki Corporate Services Limited (providing company secretarial services and, immigration and

employment advisory services) provide a boutique of services to clients. WFO, with over 40 partners, directors, managers, consultants and associates, is headquartered in Lagos and has representative offices in Port Harcourt, Ibadan, Abuja and Accra, Ghana.

Why We Donated Students’ Centre to Pan-Atlantic University – FCMB

irst City Monument Bank (FCMB) has said that its decision to decision to donate a multi-purpose Students’ Centre to PanAtlantic University (PAU), is part of its strategies to invest in the future especially that of the youth. Speaking at the commissioning and handover ceremony of the Centre, Group Managing Director/ Chief Executive of FCMB Limited, Mr. Ladi Balogun,

added that the gesture is also in line with the commitment of the Bank to effectively support initiatives that would enhance the standard of education in the country as well as the well-being of the society. The FCMB Students’ Centre, located within the main campus of PAU at Ibeju-Lekki, along the LekkiEpe expressway in Lagos, is a facility devoted to students’ recreation and socialisation.

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Corporate Finance

Stanbic IBTC offers competitive rates for vehicle and asset financing — OGBOR I

feanyi Ogbor is the Head, Vehicle and Asset Finance, Stanbic IBTC Bank. He is experienced in asset finance and general investments and currently leads the team that is responsible for originating, structuring, executing and administering asset finance facilities within Stanbic IBTC Bank. In this interview with Vanguard, Ogbor explains how the bank is using asset finance to make vehicle ownership less cumbersome for Nigerians. Excerpt: You just signed a deal with Peugeot Automobile Nigeria to finance car purchase for your customers. Coming on the back of a similar deal you recently signed with Coscharis Motors, what would you say is the overarching strategy behind these deals? We plan to grow our Vehicle and Asset Finance franchise in the market, providing services to various customers. These include individuals, small and medium enterprises (SMEs), commercial and corporate clients. With our position as a market leader in vehicle and asset financing in Nigeria, we have continually provided various solutions to our customers who require various equipment from time to time. Aside the successful sales campaigns with selected vehicle and equipment dealers, we are in relationship with key vendors and vehicle dealers financing their products for a wide range of users. Taking this further, we are bringing vehicle and equipment financing to the dealer’s showroom. By so doing, customers can walk into our vendor outlets and they can access financing from the dealer flow. This we have started and we intend to replicate amongst several dealerships. Simply put, the customer will eventually walk into a dealer showroom, process and secure financing for any choice of vehicle and eventually take delivery without necessarily going to any of the bank branches. Does this deal represent the re-emergence of Peugeot in Nigeria and that the small fleet transporter, who provide the majority of transportation via road, can now access facilities at Stanbic IBTC to replace their buses? The programme supports the drive to produce and sell locally assembled vehicles in Nigeria. This is one way in which the bank supports local 4008, 3008, 308, 301 and the manufacturing by providing a Panel Van. Peugeot is back special finance scheme that again and working with a will enhance the sale of bank like ours, it is most likely locally assembled vehicles. going to end up with at least Years ago, it seemed like there “One Peugeot brand in most was at least one Peugeot homes.” brand in most homes in The offering is channelled Nigeria. Our parents drove towards existing and new the 504GL, 504SR, 404, 305 customers of the bank. and later, the 505. We also However, the fleet buyers are remember the 505 evolution. likely to take more advantage With this deal, the bank will of the programme and we are be providing financing for willing to support them in this customers who are interested regard. in buying any of the Peugeot What are the specific brands based on favourable requirements for individuals terms and conditions. The who wish to benefit from this new brands include a wide deal? range of vehicles from the In the personal space, first Sedan to the Crossover and price for us will be to deal with SUVs. These are the 508,

What is constant is the fact that our offerings are a combination of very attractive rates, quality assets, special insurance offerings and a convenient repayment plan.

•Ogbor employees of corporate organisations whose salary accounts are domiciled with the bank. Where we deal with customers without salary domiciliation, an irrevocable standing order must be in place. The above is, however, subject to affordability, considering the cost of the vehicle and salary. Are the requirements and paperwork arduous? What exactly is the process? Aside the execution of the application form, we will require other documents showing proof of employment, evidence of monthly take home and proforma invoice stating the price of the vehicle. Customers can walk into any of the outlets of Peugeot Automobile approved vendors or any branch of Stanbic IBTC Bank nationwide and there are sales team members who are at all times available to provide the necessary support. After a preliminary assessment, the customer will receive immediate feedback on eligibility and will be guided on the documentation process for the application. Upon approval, the customer will be issued an offer letter. Based on acceptance of the offer (other conditions met) the customer will take delivery of the vehicle. It appears the scheme is skewed in favour of employees who work in blue chip organisations, unavailable to a huge percentage of Nigerians who are in the informal sector but are desirous of owning a car. How can a self-employed Nigerian in the SME sector benefit from this deal? As a group, we offer financial services to customers in various segments. These are Personal Banking, Business Banking, Corporate & Investment Banking and

Wealth. In the Business Banking space, we offer banking services to both SMEs and commercial customers and our vehicle and asset finance offering is one of the numerous products on offer. Self-employed clients and other small businesses fall under our SME segment and they are open to this scheme. For the SMEs, it is a business application with separate requirements, which differ from those of the individuals. When the Coscharis deal was signed, the perception was that Stanbic IBTC Bank was only interested in the top end of the market as only luxury car brands, essentially high-net-worth individuals, were covered by the deal. Can we then say that the Peugeot deal is an indication of the bank’s intention to increase presence in the retail end of the market? Under the Coscharis Vehicle Finance Scheme, financing is availed to customers who intend to purchase any of the Coscharis brands of vehicles. These include Ford, M&G, BMW, Jaguar, Mini, Land Rover and Rolls Royce. Even though the vendor sells luxury brands, Ford and M&G have models that compete with other brands that are considered to be less expensive. Aside the special programmes we run with selected vendors, we deal with most of the major vehicle and equipment dealers providing financing for a wide range of products. We cater for the various segments in the market. Many observers of deals such as this often wonder why there is fanfare around such deals when the market for new cars in Nigeria is only 10 per cent of the total car market, with used vehicles making up the balance 90 per cent. Don’t you think that real value lies in going after the 90 per cent, which these deals do not cover? For new vehicle purchases, we are aware that a higher number of these vehicles are sold on outright purchase. With the kind of offerings we have, we are able to increase the number of financed vehicles in the market. For a number of customers who would ordinarily buy used vehicles, affordability is created and we see them move up to play in the new vehicle segment. Lifestyle and standards of living are enhanced. Aside that, we also provide financing for preowned vehicles under our general vehicle financing terms and conditions. Therefore, we can rightly say that we cover the pre-owned car segment as well.

SEC disclaims BGL 50 Index

ollowing the publication of the BGL 50 Index in a national newspaper, the Securities and Exchange Commission (SEC) Nigeria has insisted that the suspension of BGL Plc, its subsidiaries and sponsored individuals from all capital market activities still subsists. SEC in a notice it posted on its official website, said that the Commission dissociates itself from the “BGL 50 Index” publication. According to the notice, The attention of the Securities and Exchange Commission (“The Commission”) has been drawn to a “Market Index” titled “BGL 50”, currently being sponsored by BGL Plc in Thisday Newspapers. This is to remind the general public that the suspension of BGL Plc, its subsidiaries and sponsored individuals from all capital market activities still subsists. “The Commission hereby dissociates itself from the “BGL 50 Index” publication.

GTBank named Bank of the Year in Nigeria

uaranty Trust Bank Plc has once again reaffirmed its position as a leading global brand with its recent recognition as the ‘Bank of the Year’ during the 2015 Banker Awards held in London, United Kingdom. The Banker, a publication of the Financial Times, is the world’s leading monthly journal of records for the banking Industry, with over 90 years expertise in publishing development in the banking industry both in Africa and on the global scale. The Banker Awards is regarded as the industry standard for banking excellence, recognizing and celebrating the achievements of individuals and financial institutions within the global banking sector. According to Brian Caplen, Editor of the Banker Magazine: “The banking and financial services industry continues to develop rapidly, with a few financial institutions cementing their positions as market leaders, pushing the boundaries of innovation and excellence. GTBank has over the years maintained a reputation for delivering notable financial success hinged on world class corporate governance standards and excellent service delivery.”

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Homes & Housing Finance

“Govt must provide enabling policies for affordable housing”

real estate d e v e l o p e r, Mr. Deji Alli, has revealed that without government’s enabling policies to drive the prospect of affordable housing in Nigeria, achieving it will be difficult. Alli is the chairman of Mixta Africa,, parent body of Mixta Nigeria, a real estate development firm operating in several African countries that has now been acquired by ARM Properties. Disclosing this at the formal launching of Mixta Nigeria in Lagos last week, Alli noted that affordable housing is a major segment in the operations of Mixta Africa. He said “In Senegal for instance where we have developed affordable homes, the price is 30,000 Euros per home which is about N6 million. This is exactly what we want to do in Nigeria. “But before we can do this, certain things have to be done. For instance, the governments must be desirous to make homes affordable to the teeming prospective Nigerian home owners by creating policies that will drive the dream of affordable homes in the country. For instance, the

government should ensure that it is possible for people to borrow for a long term at affordable rates to acquire their homes. “This is the difference between what is happening in Nigeria and what we are seeing in other countries where we are operating. So, until we have a situation where the government is providing that enabling environment for affordable homes, achieving affordable housing in Nigeria is always going to be difficult”, he stated. According to him, there is

what is called social housing programme, which is usually a programme of the government where there is an objective to deliver homes to citizens at a price point. He added that to do this, there must be policies in place. He further pointed out that then, there is affordable homes where there is no government’s support. “I think for Nigerians, this is where they have the opportunity to own their homes because there are no policies by the government to facilitate affordable homes

in the country yet. The kind of prices we are talking about which is between N5 and N6 million as we have done in other countries in Africa is not impossible in Nigeria”, the chairman noted. Shedding more light on Mixta Africa, he said “Mixta Africa which is the parent body of Mixta Nigeria is based in Barcelona, Spain. It has subsidiaries in Tunisia, Senegal, Cote’d Voir and now Nigeria. In addition to this, in the past, we had developed projects in Algeria, Egypt and

Mauritania. So, Mixta Africa is an African real estate development company. But the distinguishing feature of this company when you look at its operations across Africa, is that we have specialisation in our area of business.”Our core area is affordable homes. In places like Morocco and Algeria, we have been able to deliver homes successfully to end buyers at a price of N5 million. So, the reason for the acquisition for us, is to bring that management discipline of Mixta Africa to Nigeria which makes a lot of sense to us so that we are able to lower the delivery cost of houses to prospective buyers.

Estate Valuation practitioners seek global certification

n a quest to be globally competitive in plant and machinery valuation practice, some Estate Surveying and Valuation practitioners in Nigeria have liaised with the American Society of Appraisers (ASA), to obtain international certification. Though, known as valuation in Nigeria, some countries use the term, appraisal to define the act of estimating value for tangible and intangible assets, plant, machinery and equipment. This was the highlight of the visit to Nigeria by the Past President of the American Society of Appraisers (ASA), Leslie H. Miles Jr.

The ASA, last week in Lagos, commenced Stage 1 of the accreditation process aimed at certifying the first set of Nigerians as Members of the organization. The program is being co-ordinated by Mr. Leslie H. Miles Jr. a past president and Certified Instructor of ASA. He is also a Senior Appraiser with Asset Valuation Source, a Texas based institution in the United States of America (USA). The program dwelt essentially on plant, machinery and equipment valuation principles and practice. The program was hosted by Messrs Paul Osaji& Co at their head office in

Lekki Phase 1. Elaborating on this, Mr. Paul Osuji, a renowned estate surveyor and valuer, said valuation is needed in various sectors of the economy such as banking and financing, oil and gas industry, aviation sector, manufacturing, real estate and such sundry businesses. Investors would want to know the values inherent in the business they want to put their money in. According to Osaji, Estate Surveyors and Valuers (Appraisers) are in the best position to put them through on this as they have the competence. Continuing, Osaji argued that

investments have no border, therefore, professionals have to continually seek to obtain certifications with international designations in addition to their National Certifications, in order to meet various expectations of multinational organizations. “An appraiser must invest in academic study and handson, full-time experience; and must prove competency through passing qualifying examinations in valuation theory, ethics, and at least one specialty, plus peerreview approval of appraisal reports”, said Osaji.

Insurance

ITF builds partnership with insurance companies STORIES BY FAVOUR NNABUGWU

s a human resource development agency, Industrial Training Fund has planned to build on its partnership with insurance companies on skills training to see how the underwriters can provide insurance for its facilitators, among others. The Director-General of ITF, Mrs. Juliet ChukkasOnaeko made this known during a press briefing with Commerce and Industry Correspondents Association of Nigeria (CICAN) Abuja chapter in her office. Chukkas-Onaeko will write to some insurance companies on how the insurers can work with the Fund to insure some of its facilities and facilitators. “We are planning to build on our partnership with insurance companies. We

want insurance companies to come up with a kind of product that will cover our facilitators as trainers train our trainees in our various centres. “ITF is committed to continuous development of human capital to adequately advance human resource practices in Nigeria and accelerate the level of contribution in national development. We have five vocational training centres in different states. We are partnering with other training institutions both inside and outside Nigeria and the aim is to provide internationally acceptable training for Nigerians so that they can use the certificates earned anywhere in the world. It is only when we do this that our people can leave Nigeria and get good jobs outside the country. We want to empower people that

can work locally and internationally” She said the fund had established collaboration and networking with other institutions and agencies such as the German Chamber of Crafts and Commerce to train apprentices in line with

German Dual System., SENAI in Brazil, Institute of Technology Engineering and Education Services (ITEES) in Singapore, Galilee International M a n a g e m e n t Institute(GIMI) in Israel, the SURE-P, Dangote, the Nigerian Employers

Consultative Association (NECA), Manufacturers Association of Nigeria (MAN), Cement Technology Institute and the Ajaokuta Steel Rolling Company. The whole aim of the collaborations, she said, is to see a revitalized economy as evidence from developed and emerging economies show that requisite skills constitute a major platform for attaining sustainable economic development.

Use of US Dollar in Zimbabwe market stabilises CRe operations – MD

he Managing Director of Continental Reinsurance plc, Mr Femi Oyetunji has said the use of US Dollar in the company’s offshore offices has helped to sooth the reinsurer ’s operations, following the continuous fall of the naira in the organisation’s home country. Oyetunji who said the depreciation of currencies has slowed down business in

Mozambique, Zambia and South Africa, noted that the use of the US dollar in Zimbabwe had stabilised the firm’s operations. “In terms of using the US dollar for us, we convey our premiums and when we aggregate the average, we report in Naira. The issue of currency losing traction affects us in other markets. Premiums paid in US dollar

boost us when translated into the group rate,” he said. He said although the current focus was on consolidating the firm’s position in Botswana, there were concerted efforts to deal with regulatory challenges so as to operate directly from Zimbabwe in the near future. Oyetunji said Zimbabwe was an important market for the company and was the third largest market in Africa in terms of premium income.

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Minimum wage and the inevitable bankruptcy of state governments “Who ever reads history with application will perceive that the same events are often repeated and that we need only change the names of the actors. Frederick the Great, 1712-1786, (VANGUARD BOOK OF QUOTATIONS, VBQ, p 92.)

nother economic war is about to start in Nigeria. The war will be about Minimum Wage, MW. The states want to renegotiate it, meaning reduce it. Labor also wants to renegotiate it, meaning increase it. Renegotiation seems to be the only point of agreement; it is also the battle ground. On the face of it, one would assume that this is only “a matter of cash”. But, it is more than that. The very existence of states and local governments is threatened by this conflict. The first sounds of the 2016 war involving the governments and Labor have already been heard from most of the state governors –

minus three dissenters, namely Governors Wike, Fayose and Oshiomhole. Wike, as everybody knows, faces another election and cannot be seen to be antilabor. Self-interest is the motive here. Fayose, we know, loves to fish in troubled waters; while Oshiomhole is caught in the trap of his past as a labor leader. The former labor leader cannot be seen to be forsaking the people who brought him into prominence. At any rate he has only seven months to go; he can leave his successor with the problem when he goes. That is the worst form of political cynicism. Irrespective of how the three governors arrived at their current positions, they can be regarded as traitors to the cause of the other governments. They may eventually regret their dissent from the majority. Let me declare, up front, that I strongly believe that the two sides are engaged in a war that would end up in

mutual destruction — they will also destroy the states, economically, as we know them now. Most states are already tottering on the brink of bankruptcy with the current MW pegged at N18,000 per month. Many will grind to a halt by the second quarter of 2016 if they continue to pay the current MW without retrenching staff. Any increase in MW will only hasten the day of doom. The case for the governors had been made explicitly by the Chairman of the Nigeria Governors’ Forum, NGF, and Zamfara State Governor Abdulaziz Yari when he said: “What we said is that the when the National Assembly enacted the law of paying N18,000 minimum wage, oil was about $118 per barrel and today oil is sold for $41 per barrel…So, if it continues, definitely we will find it difficult to continue….The receipts from Federation Account show that some [states] received N400 million, N500 million; some

others received N55 million…Not even the salary [can be paid], their pension is over a billion. So how can we continue borrowing..?” The states and the Federal government ran into trouble very early this year. In a report titled “FG records N1.3tn revenue shortfall in three months” by Ifeanyi Onuba, in PUNCH, May 7, 2015, Nigerians were told that “The persistent drop in oil prices and low receipts from non-oil sources may have led to N1.3tn shortfall in revenue accruable to the federation in the first three months of this year. The report further pointed out that “the National Assembly, while passing the 2015 budget last week approved a benchmark oil price of $53 per barrel.” Meanwhile, the revenue generated for the first three months of 2015 were as follows: January N416.09bn February N401.46bn March N315.05bn According to Dr Ngozi Okonjo-Iweala, Minister of Finance, “in April, we had to borrow to cover up some gap.” The chief reason for borrowing was the depletion of the Excess Crude Oil Account, ECA, by November 2014. From January till now, the price of crude oil had stayed below $53 per barrel and in the last quarter of this year, it had averaged just about $42 per barrel. The consequences of this were made clear in the

September 2015 revenue aggregates which came to N389.94bn, less than the January and February figures and far off from the budgeted N815bn per month. Things can only get worse in 2016 as the price of crude is set to decline even further below $40 per barrel and volume is also likely to drop. States of Nigeria will be collecting about 40% of the average monthly allocations for 2014, which was our second best year in history. Compared to 2013, the states will be fortunate to receive 35% of that glorious year. With many states depending on the revenue allocation from Abuja for close to 95% of their income, it is clear that Governor Yari had spoken the truth. But, sadly, that is not a truth which labor and their mindless sympathizers want to be told. Forgetting that organized labor constitutes less than five per cent of the population of any state, they insist that the states must go bankrupt just to please them. Civil servants are threatening to close down states. That only demonstrates how desperate the situation has become. Shutting down a state will not produce money which the states don’t have. At any rate, where were the civil servants when some of their governors were incurring huge debts to fund “innovative” projects?

E-Commerce Stories by JONAH NWOKPOKU

n a bid to discourage payment on delivery considered one of the challenges of e-commerce in Nigeria, online marketplace, Kaymu.com.ng has partnered Interswitch to provide electronic payment options for its customers. Kaymu said through the

Kaymu tackles pay-on-delivery, partners Interswitch on e-payment partnership, hundreds of thousands of customers currently conducting business transactions via the Kaymu platform are provided with a reliable alternative pre-payment solution. Speaking on the

partnership, Managing Director of Kaymu Nigeria, Sefik Bagdadioglu said: “Trust is a major issue in ecommerce and we take this very seriously at Kaymu. It is an essential component in every part of the transaction, from honest product

descriptions right through to reliable payment options. This necessitated a partnership with Interswitch to promote a secure and enabling environment for people to make prepayments for products purchased on Kaymu.”

CanalPlus, iROKO launch video service for Francophone countries

rench premium cable television channel, CanalPlus Group and Nigeria’s mainstream online streaming video on demand, iROKO have entered into a deal to create and launch the first Francophone Subscription Video on Demand, SVOD service aimed at bringing affordable, popular mobile TV content to French-speaking Africa. The partnership which was announced last week as part of a multi-million euro deal will see the two parties build the mobile-first Android App with download functionality to be launched in the coming months. In a statement, iROKO said the service which will be C M Y K

designed to optimize data consumption, will be aimed at building a new mobileonly subscriber base across Francophone Africa. The statement noted that the

partnership with CanalPlus was inspired by the fact that the group now owns and broadcasts the largest catalogue of African content, including Nollywood films

and TV series, African homemade series and shows and South-American TV Novelas, for Frenchspeaking Africa.

SlimTrader launches white label rewards scheme

-commerce solution provider, Slimtrader, has launched a White Label Rewards scheme, the Mo’Rewardz Club, for its ecommerce platform, MoBiashara. MoBiashara is introducing the add-on loyalty programme to simultaneously reward guests and hotel staff for using the e-commerce platform. In a statement, Slimtrader said: “In stark contrast to

traditional loyalty schemes, where customers are rewarded for their loyalty to either a hotel chain or a third party booking site, Mo’Rewardz is brand & sales channel agnostic, allowing travellers and hotels to accrue points via any first or third party sellers that use the MoBiashara online reservation system. At present, these include Trip Advisor, HotelNowNow, Lagos Oriental Hotel, Protea Hotels and the Maison

Fahrenheit Hotels. Guests are rewarded with points for each reservation, which can be used towards future reservations, to buy mobile airtime, pay bills and can even be cashed out by the guest. Front desk staff receive loyalty points for creating reservations on the MoBiashara for Hotels Admin area and checking in guests with the system when guests arrive on the hotel’s premises.”

According to Bagdadioglu, the primary focus of this collaboration is to bring even greater convenience to the customer. By partnering with Interswitch to create more accessible payment channels, Kaymu is further opening up the e-commerce space to all consumers. “By working with likeminded partners, we are offering the Nigerian consumer easy, secure and most importantly free payment options with the aim to continue to pioneer the Nigerian online ecosystem through innovation,” he said. He added that, “The prepayment gateway promotes business transactions across the country via the Kaymu platform. Now, customers can make secure payments for products they desire from the comfort of their homes or offices irrespective of location and sellers encouraged to ship products outside of their states,” noting that “Kaymu’s partnership with Interswitch highlights its commitment towards developing effective payment solutions geared towards strengthening commerce and developing the country’s economy.”

34 — Vanguard, MONDAY, DECEMBER 14, 2015

Economy BY EMEKA ANAETO, Economy Editor

midst sustained high liquidity in the banking system financial experts are expecting developments in Nigeria’s fiscal policy 2016 and the international financial markets to shape investment yields positively in December 2015 and first quarter 2016. A total inflow of about N890billion is expected to hit the money market from the various maturing government securities and Federation Accounts Allocation Committee, FAAC, in the month of December 2015. Expected outflows from the various sources such as government securities and statutory withdrawals are estimated at N577billion within this month, leading to a net inflow of about N312billion. Though, according to finance industry operators, this analysis does not include the CBN’s interventions at the inter-bank segment of the foreign exchange market by the Central Bank of Nigeria, CBN, and the Cash Reserve Requirement (CRR) total liquidity in the system is still expected to exceed N1.0 trillion except if the CBN conducts Open Market Operation, OMO, to mop up the excess cash during the month. With this situation financial analysts expect yields on fix income securities to rise in the month of December. Analysts at FSDH Merchant Bank said during the weekend that higher increase in the longer dated securities is more likely than on the shorter dated securities. According to them ‘’the higher yields would be driven by the need to maintain positive real yield by the investors, the expectation of an increase in the Fed Rate in the United States of America and the impact of Nigeria’s fiscal deficit for 2016'’. But with the

Fiscal policy 2016, other factors shape investment returns in Dec

Godwin Emefiele, CBN Governor implementation of the Treasury Single Account, TSA, yields in the Nigerian Treasury Bills, NTB, may be lower, according to the analysts. Consequently investors are seeking likely opportunities at the longer end of the market while money traders may exit current position for profit-taking. Average yields on the FGN Eurobonds were higher in November 2015. Consequently, the prices of all the bonds closed lower in the month of November, compared with October 2015. According to the analysts at FSDH Merchant Bank, ‘’we expect the yields to rise higher in the month of December because of the macroeconomic risks the Nigerian economy still faces in the short-term. This is in addition to our expectations that Dollar denominated yield may increase because of the possibility of rate hike in the U.S.’’

Meanwhile the banks are taking advantage of the huge liquidity to trade their excess cash instead of lending to the real sector of the economy as envisaged by CBN’s new expansionary monetary

policy stance. CBN’s Monetary Policy Committee, MPC, announced an expansionary monetary policy in November 2015, marking a departure from its tight policy. CBN’s intention is to stimulate lending to the real sector, agriculture, infrastructure and solid minerals sectors. At the end of its November 2015 meeting, the MPC reduced the Monetary Policy Rate (MPR) to 11% from 13%. The MPC also lowered the Cash Reserve Requirement (CRR) to 20% from 25%; and maintained the Liquidity Ratio (LR) at 30%. Reacting to this development, however, FSDH said “ while we support measures aimed at stimulating lending; our conversations with banks reveal that they are cautious about lending at the moment. This is because of the impact of the current economic conditions in Nigeria on the ability of banks’ customers to repay loans extended to them.

“Many of the banks prefer to play safe in the inter-bank market and government securities despite the low rates and yields. We believe that the current low rates in the financial system does not adequately compensate for the risks in the economy to encourage lending. “We believe measures to de-risk the economy would likely stimulate lending. Some of these measures are: adequate security of lives and properties, improvement in infrastructure (roads, rails and power), enforcement of laws and order and diversification of the Nigerian economy from oil. This will reduce the adverse impact of low oil price on the economy. “These measures are long term in nature and are outside the confine of the monetary authority. The proposed expansionary budget for 2016 may remove liquidity from the financial system. Necessary measures are required so that banks will not only have preference for government securities”.

Investment experts harp on economic value of Portfolio Management BY ESTHER ONYEGBULA

nvestment experts have canvassed investment education amongst not only investment managers but also the investors in both retail and portfolio. This according to them would address the challenges of maintaining quality investments even in crises situations adding that the more informed the investor, the more balanced his investment and the more value he derives from investing. This was the thrust of the

discussion of the maiden Annual national conference of the Portfolio Management Institute of Nigeria (PMIN), led by Dr Isaac Olusola Dada, its president and chairman in council. In his presentation, Dada urged Nigerians and the stock broking community to take advantage of the opportunity offered by the PMIN to boost their interest on portfolio management to return additional value to their clients. According to him, balanced portfolio creates room for attainment of investment objectives, creates more

wealth, and increases expansion of existing businesses while adding to job creation by freeing more funds for investments, thus translating to vibrancy of the capital market as well as the overall economy. Dada said investment education thrives for those that want to secure maximum value on their invested funds, and that without education on portfolio investment, balance in portfolio arrangement would not be achieved and this would not optimize earnings from investment. Mr Wole Adetunji, Chairman of the 2015 annual conference said the portfolio management institute offers both education and training to the qualified investment community that advances portfolio investments to attract the best value from investible funds. This is done through training students in portfolio management leading to examination in various cadres of portfolio investing. It also entails continuous training through seminars and workshops.

Vanguard, MONDAY, DECEMBER 14, 2015 — 35

People in Business

We’ll meet housing challenges if govt is.... — CHRISTOPHER NWADI BY EBELE ORAKPO

ngr. Christopher Uchenna Nwadi is the Managing Director of Abuja-based NCR & Associates Limited, an outfit that specialises in Properties, Estates and construction. In this chat with Financial Vanguard in Abuja recently, the Property Consultant speaks on why he ventured into the property business, the challenges and says his love for real estate and the desire to provide good and affordable housing for Nigerians made him go into the real estate business. Excerpts: According to Engr. Christopher Nwadi, after his primary Educational background: school education at the Army Children’s School in Yaba, Lagos, he proceeded to CMS Grammar School for his secondary school education. Thereafter, he was admitted into the University of Lagos where he read Mechanical Engineering. Upon graduation, he was posted to Abuja by the National Youth Service Corps scheme for the one year compulsory service to fatherland. On completion of the service year, he started his own business. “Along the line, I was awarded an honorary doctorate degree in Business Administration by the Commonwealth University, London and I am a United Nations Peace Ambassador. I have received so many other awards,” he said.

been a lover of real estate/ property because as far back as 1980; I joined my mother in her real estate business. She is very passionate about the business. You see, my mother is Yoruba, from Lagos royal family so we have so many family lands that we had to sell and being the first child, I always went everywhere with her to the extent that people called meMummy’s husband. So as a young child, my mother took me along while conducting her real estate business so I became a lover of property. “When I came to Abuja for my youth service in the late 90s, I was posted to Abuja Municipal Area Council (AMAC) for my primary assignment. One of the first jobs I did was construction of corner shops in Wuse Zone 3 and I also designed and constructed the overhead tank at Utako Market. I thank God for where we are today. I have partnered with so many people in Real estate such as Pent House, Platinum Bank, Mortgage

Home etc. Going into business: “I started this business after my youth service. I started from scratch and gradually built up, building from one house to small estate. I love buying property. I buy land from speculators. I buy land and keep for like 10 or 15 years and sell. I don’t believe anywhere is a bush. I can make a city out of every bush

I can make a city out of any bush because I have seen it before; I went to Dubai in the 90s when Dubai was nothing and I saw Dubai grow

*Engr. Christopher Nwadi…Government policies have not been consistent because I have seen it before. I went to Dubai in the 90s when Dubai was nothing. I saw Dubai grow because I went to Dubai every year so I saw the city coming up. I was part of the people that went to see Living Faith Church, Ota, Ogun State. That place was a thick forest, today, it is a city so I have seen bush turned to city. I was in Kubwa area of Abuja in 1992-93, I saw it grow to what it is now. I saw Abuja grow into a city so there is nowhere in Abuja that is a bush. You know I grew up in Lagos, I lived on the mainland and I saw Lagos expand to where it is today.”

Challenges: Speaking on the challenges faced in the business, Nwadi said: “One of the problems we Motivation: have in the real estate sector “I just have this love for is government policies. The real estate. When I realised policies have not been that Nigeria is lacking in the consistent. A new minister area of accommodation, will come in and truncate the housing estates to be precise, process that has been on I decided to go into the real ground and bring up his own estate sector. Again, I have team. A land that has been allocated will be reallocated without going through the process of revoking before reallocation; they will just override the previous allocation. Even when we are able to bring in foreign investors, once they come into the country, before you know it, within a few months, may be the minister is changed or there is a transition of government, the whole thing will be truncated. The only way a common man can own property in a *Only through mass housing schemes like this can Nigeria be able to meet the housing challenges. city like Abuja and many places in

Nigeria today is through mass housing schemes. For instance, in the Federal Capital Development Authority (FCDA) allocations, if you want to buy 100 acres of land now, you will pay about N5 billion. Without N5 billion, a common man cannot own a house in that place. The minimum price of a house there is about N30 billion,” he stated. “It is now that they have reallocated some places within the area council that people want to key into it and do mass housing. They will tell us they have given us land for mass housing but it is being sold to us. We buy for N3 billion or N4 billion so there is no way we can meet up with the housing challenges in Nigeria. Nobody should deceive us, we cannot meet up. The only way we can meet up is if government is consistent and is truthful and transparent. That is the only way that gap can be bridged. Only then will we be able to convince foreigners to bring in money. Another challenge is the interest rates on bank loans. They are killing. Interest rate is about 25 per cent from bank to real estate. The Federal Mortgage Bank is trying but they are not doing enough because they do not have the resources.” It will be recalled that in late 2012, about 500 housing units built by Minanuel Investments Ltd (our clients) for low income workers, was pulled down by the FCT administration over claims that they were built without approval. “We were able to go to court and the judgement was in our favour. The land was restored and that increased our client’s confidence in us,” he said.

36— Vanguard, MONDAY, DECEMBER 14, 2015

(0805 220 1997)

he crash in crude oil prices from over $145 in 2008 to below $40/ bar rel presently, has invariably reduced Nigeria’s export earnings by over 50%; consequently, the significant deflation in dollar income is commonly blamed for the persistent intense market pressure on the Naira exchange rate. Interestingly, this perception is, ironically, against, the actual reality that the Naira exchange rate remained static between N152-N160/$1, even when the foreign reserves in CBN’s custody exceeded $60bn. Incidentally, after 2006, the IMF’s ‘Policy Support’ recommendation to liberalise dollar supply and stabilise Naira exchange rate, soon became an article of faith in CBN’s monetary policy management. Ultimately, almost 3,000 BDCs became licensed to sell weekly dollar allocations supplied from CBN’s reserves. Curiously, dollar allocations to BDCs often exceeded the monthly provision for the real sector, despite their indisputable role as engine of economic growth and prime creators of employment opportunities. Curiously, however, personal Naira debit cards were actively promoted by the banks, with CBN collaboration to enable Nigerians cash up to $150,000 from ATMs abroad at the official Naira rate, even when it is clear that possibly less than 1% of Nigerians earn N15m annually. Clearly, such uninhibited dollar supply clearly promotes widespread money laundering and liberal imports of contraband which undermine governments’ declared intentions to support local industrialists and create more jobs. Ironically, while billions of dollars are offered to the BDCs and Nigerian travellers at official rates, some local manufacturers are denied access to CBN dollars and are therefore invariably constrained to fund their dollar needs at over N240/$1, while other equally genuine

allocations at its own unilaterally determined exchange rate before the distribution of bloated Naira sums to the constitutional beneficiaries of the Federation pool. So, while the three tiers of government are fed with increasingly worthless Naira values, the CBN ‘ wisely ’ keeps all the dollars we earn; consequently, any fortuitous increase in dollar revenue for whatever reason, will also increase the burden of systemic Naira surplus which ultimately fires inflation and also induces weaker Naira exchange rates, as the resultant excess Naira supply chase the small rations of dollars that the CBN ironically auctions from time to time TO DEFEND THE NAIRA. In addition, the subsisting Naira surplus unfortunately induces, highly oppressive cost of funds and also discourages investment and job creation as the same CBN which initially instigated the Naira surfeit, impulsively spikes its benchmark interest rate to banks, to discourage consumer borrowing and liberal spending as a strategy against a threatening inflationary spiral. Technically, reserves are normally defined as any excess to immediate requirement; consequently, the real reserves we own are those deposits which are constitutionally consolidated from any revenue earned in excess of annual budget projections, and warehoused in the Excess Crude Account and Sovereign Wealth Fund. Consequently, we may once more ask, who owns the reserves? Surely, it would be unconscionable if the three tiers of government also subsequently lay claim to all the dollars in CBN’s custody after they have readily accepted and consumed the substituted Naira allocations. Surely, you cannot have your cake and eat it. SAVE THE NAIRA! SAVE NIGERIANS.

Is the economy poisoned by CBN $ hoarding? industrialists may also have to remain in bank queues for several weeks before they obtain forex cover for their critical raw material imports. Besides, it is certainly irrational for CBN to gleefully sell ‘our’ dollar reserves at face value to BDCs and tourists , while government is simultaneously busy borrowing same dollars externally with an unnecessarily high cost. Nevertheless, the CBN remains resolute that its forex control measures are absolutely necessary to protect the Naira exchange rate and by extension our economy and the welfare of our people . Evidently, however, the present wide difference between an official (read as subsidized) rate of N197 and the open market price of N240=$1 would expectedly create potentially serious market distortions and threaten economic and general price stability. The above realities notwithstanding, CBN management proudly positions itself as credibly performing its role as the constitutional defender of the Naira Exchange rate with dollar reserves in its custody! Incidentally, however, if the slide in crude revenue persists, Nigerians may begin to question why fuel imports, Corporate dividends and Technical fees, which consume about 80% of our total forex income, are subsidized with cheaper forex allocations when a significant segment of the real sector, is conversely forced to endure higher black market exchange rates to import those critical inputs they require to produce and create jobs locally. Regrettably, If this

imbalance persists, we may ultimately become helpless against the challenge of cheaper imports of finished consumer goods flooding our markets, forcing factory closures and throwing more Nigerians into an already saturated job market. Nonetheless, it is necessary to examine how CBN accumulates its dollars, since the Apex bank clearly does not engage in the production and export of goods or services that could sustainably fund its relatively high reserves base. Firstly, we may need to ask who actually owns the reserves in CBN’s custody? Indeed, if the Nigerian Federation truly owns the dollar reserves in CBN’s custody, it would be unexpected and inexplicable for government to simultaneously resort to funding its programmes with external borrowing with higher interest rates when infact it has $30bn idle deposits, which earn minimal

Nonetheless, it is necessary to examine how CBN accumulates its dollars, since the Apex bank clearly does not engage in the production and export of goods or services that could sustainably fund its relatively high reserves base

or nil yield in CBN vaults and accounting records. Curiously, in 2013, former President Jonathan, paid a business visit to China with a distinguished delegation which included Ngozi Okonjo-Iweala, Finance and Co-ordinating Minister of the Economy, and Lamido Sanusi, former CBN Governor; while President Jonathan went in pursuit of a $3bn loan package for the enhancement of aviation, railway and marine infrastructure from Export-Import Bank of China and China Development Bank, Lamido Sanusi, the CBN Governor conversely reported that his mission was to assess how some of the CBN’s surplus reserves of about $40bn could be held in alternative currencies such as the Chinese Yuan. Clearly, the import of the preceding scenario is that CBN reserves are not actually consolidated to bring respite from those social and infrastructural deprivations Nigerians suffer. Furthermore, what infact stops the Chinese Bank from selling Chinese Yuan or at best borrowing Sanusi’s dollar reserves for below 3% and turning round to lend the same funds to President Jonathan’s delegation with a higher interest rate. The begging question however, is , how can CBN confidently lay sole claim to the dollar cache that is, in the light of the preceding, obviously erroneously called our National reserves. Evidently, the level of CBN’s reserves clearly has nothing to do with any direct economic activity of the Bank. Instructively, therefore, the CBN consolidates its reserves by retaining Nigeria’s export dollar revenue from crude oil and substituting Naira

Business & Economy Africa has potential to solve global food security crisis – Report By Jonah Nwokpoku

ood security in Africa is set to become a major investment theme as rapid industrialisation and urbanisation across many emerging economies places a strain on the world’s food resources, according to a new report by PricewaterhouseCoopers PwC. The PwC report released last week outlined how the collapse in oil prices, a US$35bn continent-wide structural food deficit and huge potential to lift output and productivity, have forced

food security and agricultural development to the top of the political and economic agenda. Agricultural adviser to PwC and author of the report, Richard Ferguson said: “The world needs more food. China’s growing protein needs alone will require an area the size of the United Kingdom (UK) to grow the grains to support that consumption. And as more industrialising countries lose the ability to feed themselves, the world is going to look increasingly to Africa to be the solution”.

He said: “For Africa to thrive, economically and socially, African food security efforts need to become more urgent, more active and more focused. With some 400 million hectares of under-utilised land on the Guinea Savannah, Africa represents an extraordinary resource not only capable of supplying domestic needs for multiple African nations but also becoming a major source of world food supplies. Africa has a once in a lifetime opportunity to feed the world.”

Omoh Gabriel Babajide Komolafe Clara Nwachukwu Peter Egwuatu Yinka Kolawole Favour Nnabugwu Godwin Oritse Godfrey Bivbere Michael Eboh Franklin Alli Ifeyinwa Obi Rosemary Onuoha Nkiruka Nnorom CONTRIBUTORS Princewill Ekwujuru Jonah Nwokpoku Naomi Uzor Providence Obuh LAYOUT

Group Business Editor Deputy Business Editor Energy Editor Asst. Business Editor Snr Bus. Correspondent Insurance Correspondent Maritime Correspondent Maritime Correspondent Energy Reporter Industry/Agric. Reporter Maritime Reporter Insurance Reporter Capital Market Reporter

Media/Marketing E-Commerce Industry Micro Finance Graphics Department

Vanguard, MONDAY, DECEMBER 14, 2015 — 37

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40—Vanguard, MONDAY, DECEMBER 14, 2015

Jonathan did not appoint Abati to come and criticise him, just like General Ibrahim Babangida did not appoint me as Minister of Information to criticise his government

Buhari 'll be Nigeria’s most democratic leader — TONY MOMOH

LAWYER, veteran journalist, politician, royal dignitary and former Minister of Information, Prince Tony Momoh was a central player in the political change that eclipsed the dominance of the former ruling Peoples Democratic Party, PDP, having been national chairman of the defunct Congress for Progressive Change, CPC. Having related with Buhari at close quarters, he speaks on the evolving changes in the country, expectations from his party stalwart, President Muhammadu Buhari and some other sundry national issues.Excerpts: •Momoh: During military rule, there was no politics By Bashir Adefaka

HAT is your idea of democracy in Nigeria? The road map in Nigeria is the Constitution and Section 14 of the Constitution says, “Sovereignty belongs to the people of Nigeria.” And from the Constitution, government derives all its power and authority, which means that the Constitution, as I have always said, is a documentation of delegated power. During military rule, there was no politics. We have chosen democracy as our highway. Therefore, we must obey the rules of democracy.

Rules of democracy So, once we say we have chosen democracy, then there must be election because all the people cannot go to parliament and all the people cannot take decisions. Therefore, in our way of doing it, we structured Nigeria into three: the national level, the state level and the local government level which is why we say we have three tiers. In these three tiers, elections must be conducted to the National Assembly where you have the Senate and House of Representatives, to the state assemblies, to all the executive offices including the 36 governors and, of course, the local government chairmen. And section seven of the Constitution is clear that all local government officers must be elected. C M Y K

But in many states instead of elected local government chairmen we have administrative secretaries or caretaker chairmen who are appointed? That is indiscipline. There is no provision for administrative secretaries or caretaker committee chairmen for local government administration. So, you can now see that because we are practising democracy, we have political associations that are registered to canvass for votes. Having been registered to canvass for votes and you will now be called political parties then you must play politics. Then you must have a manifesto where you make promises, and the Constitution itself in Chapter Two gives you how to package your manifesto. You must state what you want to do for Nigerians since sovereignty lies with them and, therefore, you will have to make the promise of what you will do for them if you are in government as a political party. What will you do for them politically, educationally, economically, culturally, environmentally, and in the area of foreign policy? There is a guideline in the Constitution. As a political association you will say what you want to do, and that is what you package as your own manifesto. Are you satisfied with the way the new opposition Peoples Democratic Party, PDP is challenging the new government? It is all politics. You don’t

expect Olisa Metuh to be singing the praises of APC. That is not the objective of opposition. What Metuh should be doing as PDP publicity secretary is to criticise APC government. And what APC was doing as the opposition party is precisely what PDP is now doing. Just like what many of your colleagues do as spokespersons for governors. Let us take Reuben Abati as spokesperson for former President Goodluck Jonathan. Some people were criticising Reuben saying, “Look at what he was writing in Guardian and look at what he is doing now in government.”

Spokesman and image maker But Reuben Abati had no obligation to what he was doing in The Guardian when he was with Jonathan. When he was with Jonathan, he was his spokesman, image maker and his duty was to defend Jonathan. He would not be objective if he criticised Jonathan. Jonathan did not appoint Abati to come and criticise him, just like General Ibrahim Babangida did not appoint me as Minister of Information to criticise his government. Many of my colleagues raised issues, but I said, “Oh, I am not the spokesman of the NUJ. I am the spokesman for the government of IBB, and I know what I am doing.” I was spokesman for the government,

and Duro Onobule was the spokesman for the President. Until we know all these, we will be thinking that some people have sold out. This question arose from the way the PDP minority leader mocked the presentation of the Medium Term Expenditure Framework causing fear that they could also have derailed the Supplementary Appropriation Bill? The fact is that PDP could not have struck out that supplementary bill. Only majority can strike it out. PDP may have tried but at the end of the day there was voting. Although they are in the minority, the PDP had their say but the majority that is APC had their way. But during the ministerial screening of Amaechi they had their say and still walked out? That is the opposition for you. If you walk out, the people sitting will still pass the bill. You can walk out as many times as you like, as long as you form a quorum you pass the bill. There are different definitions of quorum. There is the time the quorum will be one-third of the people present, but the major quorum is one-third of the population of the House. So, if it is 360 in the house, one-third will be 120. As far as the house is up to 120, they have formed a quorum, and they can do business. Given that Gen. Buhari as head of state appointed you as General Manager of Daily Continues on page 41

You don’t expect Olisa Metuh to be singing the praises of APC. That is not the objective of opposition. What Metuh should be doing as PDP publicity secretary is to criticise APC government

VANGUARD, MONDAY, DECEMBER 14, 2015 — 41

Why Metuh can't praise Buhari — Tony Momoh •Momoh: Buhari is not a tribalist

Continues from page 40 Times what was your experience working under him? Many people don’t know General Muhammadu Buhari. At the time Tunde Idiagbon was the second-in-command and because of the free hand Buhari gave Idiagbon, people thought Idiagbon was the man in power. I am giving you this so that Nigerians would begin to watch Buhari. From what I am telling you now, I am making a statement that the most predictable man in the world is Buhari. Do you know why? Why? If you want to know what Buhari will do, look at the rules guiding the decisions he takes. Read the rules and, since you know what the rules guiding those decisions say, you can predict him because Buhari will never bend the rules. Having said that, I am saying that Buhari will never interfere with the decisions of people and institutions he has delegated assignments, for example, INEC. He won’t interfere with the decision of the INEC. He won’t interfere with the decisions of the National Assembly in its power to make laws. He won’t. If the Constitution gives you power to do one or two things, Buhari will never interfere with the operation of the law that set you up. You can, therefore, say that he will turn out to be one of the most democratic leaders Nigeria has ever had because he won’t interfere with the institutions. But will that stance not deny him and his party of advantages they could have taken through interference with institutions? There is division of labour, separation of power. The lawmaking arm of government

refers to the National Assembly and the state assemblies. The law executing arm is the executive; the president, the governors and chairmen of local councils and law interpreting arm is the court of the land from the Supreme Court down to the magistrate court including the customary court. That is separation of power. The National Assembly makes law and cannot interpret the law. The judiciary interprets the law and cannot make or execute the law. The executive executes the laws made by the lawmaking arm. So, that is division of power and separation of power. Now the person who obeys that arrangement is a democrat not the one who wants to control the National Assembly. Why do you want to control the National Assembly?

Criticising Buhari So, people were criticising Buhari that he is weak, he ought to have dictated to the National Assembly what would have happened. He said at the party meeting, let them go and sort themselves out because they are an arm but that they should stop individual interests for the collective interest of the nation and also the supremacy of the party in the area of taking decisions in the National Assembly and so, the party must be taken into consideration. And I am now telling you that Buhari’s tenure will be marked by respect for the institutions and then the respect of not only the facts that I have cited but also the import of their separation. How do you compare the gains made in the war against insurgency in the Northeast with the renewed agitation for

Biafra in the Southeast? Let me also tell you another thing Nigerians should look up to in trying to understand Buhari. President Muhammadu Buhari will do anything to secure Nigeria, which he is ruling. He will never allow any part of the country to cut off. This is so because the Constitution says Nigeria is a country indivisible. You can’t divide it, and so Nigeria must remain one under Buhari. One is advising therefore that in line with the Constitution, which Buhari will enforce, anybody having a grievance should settle it within Nigeria. And people have the right to express their grievances and have them settled. Running or breaking away from Nigeria is not an option, and it is only in securing Nigeria that there will be peace. It is believed that there is mutual distrust between the people of the Southeast and the president? The fact is that it is misplaced. Buhari does not hate. He is not a tribalist, and he is not a sectional leader. I am not praising him for being like this, but the truth of the matter is that he has never said he is going to attend elders’ forum meeting or any Arewa meeting in the North. All those meetings that they hold in the North he is not excited by them. So, anybody who has seen him in a sectional meeting should say so and then say when. What of religious meetings? No. He practices his religion faithfully and allows you to practice your religion the way you know it. His position is nobody should interfere with the other. Are you not worried that Southeast governors with the exception of Owelle Rochas Okorocha were indifferent to the

pro-Biafran marches? There is no proof that they backed it. Who says they are not talking? Or must you talk before you are known to be reacting? For instance, I don’t know why people are so agitated. People are agitating for what they believe they want to do. We are in a democracy and free speech is guaranteed by the Constitution. But when you go beyond exercising your right to speak, then you will know whether or not there are institutions that will check you. Which the military has done by giving them warning? No, the fact is, the military doesn’t have to give anybody warning. Everybody knows that when you exceed the limit of your rights, someone in charge will intervene. So, what they are doing as far as I am concerned is okay as long as they don’t exceed the limit. They know it is specified by law. If people start breaking people’s vehicles, then people will be arrested and heavens won’t fall! If people take up arms, they will be confronted, and heavens won’t fall! Look at the North East now and imagine the weapons being used on our military. The insurgents have very sophisticated weapons and people are dying.

Many people don’t know General Muhammadu Buhari. At the time Tunde Idiagbon was the second-incommand and because of the free hand Buhari gave Idiagbon, people thought Idiagbon was the man in power

Perception of injustice So, those who are agitating for Biafra are reacting to their perception of injustice. You won’t believe it but these ISIS people are reacting to their perception of injustice. There is so much trouble in the world today. People are not mad. They are reacting to their perception of injustice, and the Holy Books say that God will forgive everything except injustice. Man’s inhumanity to man must be attended to. People don’t have conscience any more. That little voice that tells you, “What you are doing is wrong,” is silent, yet at our level of maturity spiritually, that voice ought to be booming in our minds, from our hearts. It says, “Take care of the orphans.” What do we do? We deny the orphans and starve them to death. The law of taking has taken over from the law of giving. The law of taking is the law of Satan whereas the law of giving is the law of God. Love is the manifestation of the law of giving. Hatred and greed are manifestations of the law of taking. Satan is behind all these. God is behind all that is good and God is justice. Justice must come to the world, otherwise, the world will not have peace. So, internally, when we have people coming out like this, we attend to their agitation, peacefully. But when they exceed the level of free speech, then they will be tackled, and I pray we don’t get there.

President Muhammadu Buhari will do anything to secure Nigeria, which he is ruling. He will never allow any part of the country to cut off C M Y K

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Managing the inflection point in organizations Being a paper presented by Dr. Tunde Akanni at the Nigerian Institute of Management, Ede, Osun State

By Tunde Akanni

NTRODUCTION: The idea of engaging with “strategic inflection” in today’s discourse is in line with the global best practices of the recent times induced by some universal phenomenon. In mathematics, especially in differential calculus, an inflection point or point of inflection otherwise referred to as flex, or inflection (inflexion) is a point on a curve at which the curve changes from b e i n g concave ( c o n c a v e downward) to convex (concave upward), or vice versa. Of course, our preferred direction is rather obvious which is concave or upward, if we are talking about global best practices further confirmed by the Yoruba maxim of “ a ma n pe gbon ni”, here taking after a comtemporary leading light in literary scholarship, Pius Adesanmi. Conceptual Clarification Globalization: This is in line with the global best practices signposted early in this presentation. The inception of globalization is one thing that has been difficult to ascertain. Some scholars and analysts have argued that it is not a recent development afterall. According to this school of thought, social and trans-border commercial activities had been in existence as far back as the 16th century.

Glogal capital flows Some others on the other hand, assert that the recent development they reckon with is characterised by activities that far transcend any t hat history had ever recorded. They cite such developments as the regime of unprecedented global capital flows and related activities. According to the online Business Dictionary, DR. TUNDE globalization AKANNI i s the worldwide movement t o w a r d economic, financial, trade, and communications integration. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of labour which is why we are daily confronted with migration crisis especially in Europe these days. C M Y K

Martin Albrow, cited by Baylis and Smith (1999) further describes globalization as the process - still ongoing- through which the world has in many respects been becoming a single place. In the economic realm it probably manifests best as free markets with investment defying geographical and all other forms of restrictions. According to Scholte (2000), globalization could be said to be informed by some four factors. These include the spread of rationalism as a dominant knowledge framework and certain turns in capitalist development. The rest are technological innovations in communications and data processing as well as the construction of enabling regulatory frameworks.

Regulatory frameworks The last two factors are the most relevant to this paper as management practice which is what is in focus today have responded essentially to these. The technological innovations said to be unmistakable include breakthroughs in the areas of transport, communications and data processing. Capacities of cables as well as the speed of digital processors have increased and are virtually ubiquitous. All these help to create a high degree of technical standardization within and between countries helping at the same time to create trans-world social spaces. And these have been improving virtually by the day. What, with the arrival of the Internet otherwise called worldwideweb which practically blurs time and space boundaries? Indeed, some authors have suggested that the factor of technology, more than any other, has been the single driving force of globalization. Inflection Point: In Mathematics, an inflection point

This is age of information society as Sociologist Manuel Castells would say

is when the rate of the slope of a curve changes sign from negative to positive. In physical terms, it is when the shape of a curve changes from convex to concave. Or simply, when a curve goes up. Strategic inflection point: “A strategic Inflection point is when the balance of forces shift from the old structure, from the old ways of doing business and the old ways of competing, to the new. Before the strategic Inflection point, the industry was more like the old. After it, its more like the new. It is a point, where the curve has subtly but profoundly changed, never to change back again… the perilous transition between the old and the new ways of doing business Information age, era like no other: Having had what can be said to be a foretaste of Groove’s postulation and the reality of globalization, what other stimulation do we need to be alive to the wave of globalization as individuals involved in management especially that Groove only signposts the prevailing trend? This is age of information society as Sociologist Manuel Castells would say. He concludes that it is the very basis of the interdependence and impliedly the growth and development of different organizations and countries of the world. The Economist magazine of February 2010 indeed takes it to the extreme and declares unequivocally that it is the age

of “Data Deluge” in the cover story of that edition. A spectacle typifying volume and speed from The Economist: Eighteen months ago, Li & Fung, a firm that manages supply chains for retailers, saw 100 gigabytes of information flow through its network each day. Now the amount has increased tenfold. During 2009, American drone aircraft flying over Iraq and Afghanistan sent back around 24 years’ worth of video footage. New models being deployed this year will produce ten times as many data streams as their predecessors, and those in 2011 will produce 30 times as many.

Quantity of information Everywhere you look, the quantity of information in the world is soaring. According to one estimate, mankind created 150 exabytes (billion gigabytes) of data in 2005. This year, it will create 1,200 exabytes. Merely keeping up with this flood, and storing the bits that might be useful, is difficult enough. Analysing it, to spot patterns and extract useful information, is harder still. Even so, the data deluge is already starting to transform business, government, science and everyday life. Clearly and ahead of The Economist, internet freedom activists had seen the direction things were bound to go and strongly believed they should not be indifferent to it. They resorted to hacktivism. This is the

process of unauthorized accessing of the contents of a computer to make political statement. In the recent time, this has happened more to published works. A most remarkable height of hacktivism is that involving a young American computer programming expert, Aaaron Swartz, who comitted suicide at 26! Aaron Hillel Swartz (November 8, 1986 – January 11, 2013) was an American computer programmer, entrepreneur, writer, political organizer and Internet hacktivist who was involved in the development of the web feed format RSS and the Markdown publishing f o r m a t , t h e organization Creative Commons, the website framework web.py and the social news site, Reddit, in which he became a partner after its merger with his company, Infogami.

Criminal justice system He committed suicide while under federal indictment for data-theft, a prosecution that was characterized by his family as being “the product of a criminal-justice system rife with intimidation and prosecutorial overreach”. Swartz as a civil awareness activist also helped launch the Progressive Change Campaign Committee in 2009 to learn more about effective online activism. In 2010, he became a research fellow at Harvard University’s Safra Research Lab on Institutional Corruption, directed by Lawrence Lessig. He founded the online group Demand Progress, known for its campaign against the Stop Online Piracy Act. On January 6, 2011, Swartz was arrested by MIT police on state breaking-and-entering charges, after surreptitiously installing a computer in an Institute closet which he set to s y s t e m a t i c a l l y download academic j o u r n a l a r t i c l e s from JSTOR. Federal prosecutors later charged him with two counts of wire fraud and eleven violations of the Computer Fraud and Abuse Act, carrying a cumulative maximum penalty of $1 million in fines, 35 years in prison, asset forfeiture, restitution, and supervised release. To be continued

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Access Bank opens Lagos City marathon account By Ben Efe

NCE again, Lagos City will grace a marathon race; this is coming seven years after the Athletics Federation of Nigeria, marathoners and keep fit enthusiasts were left high and dry by the sponsors of the Lagos international half marathon. However, in announcing the rebirth of the Lagos Marathon, top officials of Access Bank of Nigeria have promised that this will not be a one off thing, as the event will endure for as long as they have the financial muscle to keep it going. This was music to the ears of AFN president, Solomon Ogba and Lagos govern-ment represented by Deji Tinubu who is the Lagos State governor ’s special adviser on sports and also chairman of the Lagos State sports council. Speaking on the forth coming event, Mr. Tinubu stated that the Access Bank/ Lagos City Marathon promises to be the best in Africa and could also rival the world major marathons... Berlin, Tokyo, Boston and London in the years to come. He revealed that the 50,000 dollar top prize money marathon will attract the world best runners, adding the IAAF has gladly sanctioned the race and even newly elected IAAF president, Sebastian Coe may be present at the maiden race scheduled for February 6. “A whole lot of work has

Marathon runners during a race been done and we are good to go with the maiden Access Bank/Lagos City Marathon,”Mr. Tinubu assured. The 42km race will begin at the National Stadium Surulere Lagos, and run through Ojota, the Third Mainland Bridge, into Admiralty Way in Lekki and then terminate at the Eko Atlantic City site.

Ogba remarked that the race will be held strictly to best international practice so that the country’s image will not be tarnished. “AFN is interested in the technical aspect of the marathon. We must maintain international standards, because this will boost our image as a Federation and a country.”

FIFA Club World Cup: Sanfrecce freeze TP Mazambe

P Mazembe’s dreams of reaching another Club World Cup final were quickly extinguished when the African champions lost 3-0 to Japan’s Sanfrecce Hiroshima in their quarter-final on Sunday. Tsukasa Shiotani and Kazuhiko Chiba both scored following corners and Takuma Asano added the third as Hiroshima, who qualified as champions of the host nation Japan, earned a tie against South American champions River Plate on Wednesday. Five-times African cham-

pions Mazembe made history on their last appearance in the tournament five years ago when they eliminated Brazilian side Internacional to reach the final where they lost to Rafael Benitez’s Inter Milan. The team from Democratic Republic of Congo, fielding players from Ivory Coast, Mali, Zambia, Tanzania, Ghana and only one from their own country, made a bright start, weaving some neat passing patterns in midfield, and they had an early chance to get ahead. Mbwana Samatta got clean away from the defence but dallied over his shot and gave Chiba time to scramble back and tackle.

Dalung commends NTF on Korean Ambassador’s Taekwondo aging enough from my Algerian coach By Solomon Nwoke

INISTER of Youth and Sports, Barrister Solomon Dalung has commended the Nigeria Taekwondo Federation for keeping the hopes of Nigeria Taekwondo athletes alive by organising regular competitions, thereby keeping the athletes busy all through the year. He made the commendation in Lagos at the weekend while declaring closed, the 6th Korean Ambassador ’s West Africa Taekwondo championship held at the Okoya Thomas hall of the Teslim Balogun Stadium, Surulere Lagos. Speaking ahead of Rio 2016 preparations, Dalung said if the funds are available, the athletes would immediately be moved into closed camping. He said: “Olympic is a four year event and planing for it should not start on the eve of departure. So much has been going on though, but not so encour-

own assessment. The level of preparation is fluctuating between 50 and 45, and what we are going to do in the coming year, is to rededicate whatever resource s that we have into mobilsing the athletes into closed camping . “Base on the availability of funds on ground, the National sport commission will determine when these athletes will go in to closed camping.”

Dollar rain

Continues from BP paid the Naira equivalent of $4,000-a-player for the final win, $3,000-a-man for the semi-final win over hosts Senegal, $2,000-a-man for the opening-day win over Mali, and $1,000 for the draws with Egypt and Algeria. They were also paid $100 per day for the 10 days they trained in The Gambia prior to this championship, which amounted to $1,000.

Continues from BP tions in Dakar on Saturday. Oghenekaro Etebo put the West Africans ahead from the penalty spot on 14 minutes, before seeing his teammate Segun Oduduwa head the ball into his own net to revive Algeria’s hopes of continental glory on the half-an-hour mark. But Etebo completed a brace just before half-time to help Nigeria to the roof of Africa. “We all feel a great frustration, as we are aware that we came close to achieving a feat. But we handed our opponents the victory,” Schurmann lamented after the match. “The goals Nigeria scored, we gave it to them. At this level, you pay the price for your mistakes. “We had a poor start, but we came back into the match, we equalized and even took control. But we missed the penalty as well as many other chances.”

52 — Vanguard, MONDAY, DECEMBER 14, 2015

MMEDIATELY after the draws for CAF Champi ons league and CAF Confederation Cup, I put a call through to the Chairman of Enyimba FC, Chief Felix Anyansi,wishing him well through a draw that I considered “favourable” He agreed with me that a preliminary round match against Vipers of Uganda, graduating to face the winner of the match between Lioli of Lesotho and Vital O of Burundi was good enough to help the team progress in the competition. Enyimba remains Nigeria’s most successful club in Africa yet the last three years has been a nightmare and it is still a miracle that we are still benefitting a complement of the full club participation. Last year, no Nigerian club made it to the second round of any of the CAF Club Cups. You can imagine a club like Enyimba starting the competition this year in the preliminaries where their “mates” Cotton Sport, A.C Leopards, El Ahly, Zamalek, T.P Mazembe, El Merreikh, Al Hilal, Zamalek and co have been drawn bye. That is the sign of the times. This year, things must change for the better and Anyansi agrees. “ We have never faced Ugandan opposition before, but I am happy to play them. After that, we will take every match as it comes. We have to regain our respect in Africa “ The widely travelled and respected soccer administrator said. That is for the league winner. The Confederation Cup Champions, Akwa United will have their baptism in Congo against an unknown club called V. Club Mokanda, who ply their trade in Pointe Noire ( Artificial turf) Akwa United is expected to come back with a favourable result and round it up in Uyo before going on to meet the winner of the match between Police of Rwanda and Atlabara of Southern Sudan. Again, the chairman of Akwa United Mr Nse Ubeh sees this as a “ a good draw” one that will help the club progress farther in the competition. “I am happy that we will be playing away first. That will not only expose us to the experience of continental assignment, but will afford us the oppor-

Enyimba, Akwa and the continental challenge tunity of making do in front of our home supporters” He said. Warri Wolves join Enyimba in the Champions League. Their story last year is not worth repeating that is why “…God has given them another chance to make amends….” Unlike Enyimba, Warri Wolves will be called upon to face a stiff opposition very early in the competition. After meeting Praia Crutz of Sao Tome and Principe, Warri Wolves will go smack into the challenge of experienced campaigners, Group Stage exponents and Sudanese champions El Merreikh . The fourth Nigerian Club Nasarawa United can also be considered “lucky” to be drawn against Generation Foot of Senegal in their first match. After that they have to prepare for the tricky North African opposi-

By the time we go continental, the league may not be on, so NOW is the time to put the team in shape, play local and international friendly matches to keep in shape

tion as they travel to Algeria to face C.S.Constantinoi. The die is cast. More than ever, the fourth clubs representing Nigeria must be aware that between now and February 13 is a very short time in a country where so much premium is paid to holidays and merriment. Nigerian Clubs unlike their counterparts in Africa do not have the luxury of the league to fine tune their players and teams before debuting in Africa. By the time we go continental, the league may not be on, so NOW is the time to put the team in shape, play local and international friendly matches to keep in shape. In order words the coaches and players must be in place in the next week. Documentation completed, training in progress. The mistakes of the past are still starring us in the face. I have said it at another forum that as a CAF Club Licensing instructor, one with a wide knowledge in African football as a CAF Match Commissioner and General Coordinator, I will be only too willing to help brush our clubs in readiness for the African challenge. Playing in Africa is definitely not the same as playing domestic football. A trip to North Africa as an example demands a different approach to the one involving a West African, or East African opposition, for that matter. With Rangers, Shooting Stars, Bendel Insurance, Stationery Stores, Enyimba, we sat on top of African football. With other clubs, we did not give in without a fight. Today the story is different. It should not be. THE ROAD TO RIO Grateful to Coach Sia Sia and his boys for not only qualifying us to the Olympics in Rio, but for winning the African Challenge as well. The road to Rio was not easy. Distractions on and off the field, doubts as to the suitability of players……. As we party and clink glasses, we should pause and plan ahead. Rio will not be easy. This team still needs a lot going forward. Anyway that is for tomorrow. Today, let’s pop champagne and celebrate………..but tomorrow is here…. See you next week

Nigerians seek atonement at Gov’s Cup Lagos Tennis By John Egbokhan

IGERIAN players will be seeking to address their seeming failure when the Governor ’s Cup Futures 11 serves off today at the Lagos Lawn Tennis Club, Onikan. After literally getting their hands burnt in the Futures 1, where only Christian Paul advanced to the quarter-final from the all bunch of home talents who entered the main draw, a new week ushers in new opportunities for the players to take their destiny in their hands by playing with uncommon hunger and fighting spirit that leading tennis authority, Chief Ben Ezeibe has always advocated for professional tennis. For a tournament that is in its 15th year, it is a sad commentary of Nigerian tennis that home talents continue to lag behind, settling for the crumbs while their counterparts from South Africa, Zimbabwe, Egypt and Algeria scoop international ranking points from here, before going C M Y K

on to feather their nests in other circuits. In last week’s tournament, Paul, who was the best Nigerian-placed talent, was blown apart by South Africa’s Lloyd Harris in quick sets 1-6, 0-6. For a player, who got to the quarter-final stage, losing in such a scandalous manner only goes to show how low the game has sunk to, with questions being raised as to the commitment of the administrators, who Chief Ezeibe said have a duty to raise players who must bring honour and glory to Nigeria. According to Chief Ezeibe, a former member of the Nigeria Lawn Tennis Association, “the present NTF board has a duty to raise players who will bring honour to Nigeria in the Davis Cup. For them to do that, they must have players playing in the ATP Tour and n the top 500. “During our days, we used to identify players with potentials and send them on circuits to garner points. The logic is

that if you have players with high raking, you will have players who will bring honour to the country in Davis Cup. The reverse if what we have now because we do not have players in the top 1250, such that our Davis Cup team is too weak to compete”, added the man, fondly referred to as the tennis encyclopaedia by stakeholders.

WINNERS... L-R: Most Valuable Player (MVP) final match, Ugwegbu Franklin (Ibadan); MVP match 2, Sanisu Kehinde (Ibadan); Brand Manager Seven Up Bottling Company Plc, Mr. Segun Ogunleye; 1st MVP third place match, Adegbesan Samuel (Lagos); MVP opening match, Mohammed Umar(Kano) and 2nd MVP opening match, Ndukwe Daniel at the Gala Night for the Pepsi Football Academy Festival of Youth in Lagos at the weekend.

Pepsi Academy rewards coaches, players I

T was celebration galore for Pepsi Football Academy youngsters and coaches at the weekend as they were hosted and rewarded for excellent performances at the 2015 Pepsi Academy Festival of Youth. The event which began with a football tournament for U-14 ended with a Gala Night at Lagos Airport Hotel on Friday. Tournament players were drawn from four zones: Kano, Aba, Ibadan and Lagos. The youngsters from Ibadan demonstrated suprema-

cy at the final, held at Agege stadium, beating Kano by 4-2 to clinch the trophy. A powerful strike from Bolarinwa Oluwalewa, which came in the 68th minute, sealed the victory for the Ibadan boys. Aba defeated Lagos 4 – 0 to win medal for the third place. At the Gala night, Coach Baba Labaran, Coordinator of Pepsi Football Academy Kaduna Centre and his Jos counterpart, Mrs. Bola Ogun smiled home as they emerged the Most Outstanding Coaches of the year.

In the player category, Daniel Udukwe (Aba) and Mohammed Umar (Kano) were the Most Valuable Players in the opening match between Aba and Kano while Adegbesan Samuel (Lagos) and Sanisu Kehinde (Ibadan) won the same award in the Lagos versus Ibadan game. Adegbesan and Ndukwe clinched their second awards during the third place match between Lagos and Aba. Ugwegbu Franklin (Ibadan) and Abass Mohammed emerged the Most Valuable Players at the final.

Speaking with press men at the event, Former Coach of the Super Eagles, Chief Adegboye Onigbinde described Pepsi Football Academy as the most consistent and functional football academy in Nigeria. He said that although Nigeria had many football academies, Pepsi Academy has remained a shining light. Head of Marketing, Seven Up Bottling Company Plc, Mr. Norden Thurston reaffirmed the commitment of the Academy to the development of football at the grassroots.

Vanguard, MONDAY, DECEMBER 14, 2015 — 53

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54 — Vanguard, MONDAY, DECEMB ER 14, 2015

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Vanguard, MONDAY, DECEMBER 14, 2015 — 55

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Vanguard, MONDAY, DECEMBER 14, 2015

Algerian coach laments loss to Nigeria

LGERIA U-23 coach, Pierre-André Schurmann expressed his frustration

after falling 1-2 to Nigeria in the final of the 2015 Africa U-23 Cup of Na Continues on Page 51

Dollar rain for African Champions E

ACH Nigeria player was paid the Naira equivalent of $4,000 after they beat Algeria 2-1 to clinch the 2015 AFCON in Dakar, Senegal, on Saturday night and this brings to a total of $12,000 each player was paid. “We have been paid our winning bonus for the final,” a player confirmed on Sunday morning. They would not have got anything had they lost the final. In total, each player received the Naira equivalent of $12,000 for winning the U-23 AFCON. Coach Samson Siasia was paid double this amount. A further breakdown showed the team were Continues on Page 51

•Return home today

RESULTS Aston Villa 0 Arsenal 2 Liverpool 2 W/Brom 2 Tottenham1 Newcastle 2 Today’s Match Leicester v Chelsea 9pm

*CHAMPIONS... Victorious CAF U-23, AFCON Champions, Nigeria’s Dream Tream celebrate after 53 defeating Algeria in the final, Saturday night. -P.

FIFA Club World Cup: Sanfrecce freeze TP Mazambe -P.51

Schurmann

Newcastle shock Tottenham

YOZE PEREZ scored a dramatic late winner as Newcastle plundered White Hart Lane. Tottenham drew the first blood, but Aleksandar Mitrovic started Newcastle’s comeback on 75 minutes when he cancelled out first-half Eric Dier’s opener. Newcastle’s fight back was complete when Perez’s superb shot went through Frenchman Lloris’ hands. Spurs started the much stronger side despite Newcastle manager Steve McClaren naming the same XI that stunned Liverpool 2-0 last weekend. Only neat saves from Magpies goalkeeper Rob Elliot prevented Dele Alli and then Erik Lamela from taking an early lead. But he could get nothing more than a weak hand on Dier ’s flicked header 39 minutes in, when the midfielder peeled off his man to glance home a corner at the near post.

QUICK CR OSS WORD CROSS OSSWORD

T OD AY'S PUZZLE ODA

FRI DAY'S ANS WERS FRID ANSWERS

ACROSS 2 Strict (5) 7 Ration (5) 8 Gemstone (5) 10 Detest (5) 12 Exist (3) 13 Student (5) 15 Melodious (7) 17 Pressed (6) 19 Males (3) 20 Storm (7) 23 Finished (4) 25 Weary (4) 26 Ordained (7) 30 Owing (3) 31 Run off (6) 34 Skill (7) 37 Cash (5) 38 Fuss (3) 39 Undress (5) 40 Bequeath (5) 41 Cut (5) 42 Avarice (5)

DOWN 1 Presage (5) 2 Blemish (5) 3 Pill (6) 4 Chamber (4) 5 Versus (7) 6 Vapour (5) 9 Curve (3) 11 Creased (7) 13 Guide (5) 14 Prodded (5) 16 Observe (3) 18 Dishearten (7) 21 Giant (5) 22 Tearful (5) 24 Tree (7) 27 Hint (3) 28 Death (6) 29 Outspoken (5) 32 Managed (5) 33 Measure (5) 35 Strange (3) 36 Agitate (4)

YESTERDAY'S SOLUTIONS ACROSS: 2, Angle 7, Beer 8, Abrupt 9, Taint 11, Rod 13, Ram-15, Ewer 16, Tap 18, Mere 19, Worried 20, Crop 22, Tuna 23, Tactful 25, Eyed 27, Had 28, Fete 30, Did 31, Dud 33, Seedy 36, Clutch 37, Evil 38, Yearn.

DOWN: 1, Below 2, Art 3, Gnu 4, Eat 5, Pry 6, Spear 10, Near 11, Rescued 12, Devoted 13, Reduced 14, Menaced 16, Tooth 17, Proud 18, Net 21, Pad 24, Face 26, Yield 29, Tunic 32, Sty 33, Shy 34, Era 35, Yen.

How to Play Sudoku

lace a number (1-9) in each blank cell. (No line can have two of the same number). Each row (nine lines from left to right), column, (also nine lines from top to bottom) and 3 X 3 block within a bold block (nine blocks) contains number from 1 through 9. This means that no number can appear twice in any block, column or row. No mathematics is involved – no adding, subtraction, division or multiplication, just plain logic and your imagination. Printed and Published by VANGUARD MEDIA LIMITED, Vanguard Avenue, Kirikiri Canal, P.M.B.1007, Apapa. Phone: Newsroom: 018773962. Deputy Editor: 01-4548355. Advert Dept Hotline: 014544821. Abuja Advert Hotline: 09-2921024. E-mail: editor@vanguardngr.com, news@vanguardngr.com, letters@vanguardngr.com. Advert:advertproduction@yahoo.com Website: www.vanguardngr.com (ISSN 0794-652X) Editor: MIDENO BAYAGBON. Phone: 01-7742861, All correspondence to P.M.B. 1007, Apapa Lagos.

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