thisday0518

MPC Likely to Retain Interest Rate
Obinna Chima
Despite the weak fiscal position
of the country, members of
the Central Bank of Nigeria’s
(CBN’s) monetary policy
committee (MPC), which
commence their 244th meeting
today, are likely to vote
majorly for the retention of
the benchmark interest rate
and other monetary policy
tools.
The two-day meeting, which
would be the third this year,
is expected to focus on critical
policy decisions relating to
the economy.
The meeting comes a few
days to the country’s May
29th, 2015 hand-over date
to an incoming Muhammadu
Buhari-led administration.
The financial market has
been relatively calm since the
conclusion of the elections,
even as investors have taken
cautious trading steps and
actions amidst uncertainty
in monetary policy and fiscal
direction of the incoming
administration.
The MPC had this year
Power: Nigeria's Bulk Trader Concludes Negotiations on 10 NIPP Gencos... Pg 9
taken certain bold policy
decisions relating to currency
devaluation, net open position
(NOP) and the monetary policy
rate (MPR) in light of daunting
fiscal and monetary policy
challenges.
Continued on page 6
Monday May 18, 2015
Vol 20. No 7327. Price: N150
www.thisdaylive.com
TRUTH & REASON
TODAY'S WEATHER ABUJA 16°C-33°C MAIDUGURI 15°C-35°C ENUGU 22°C-34°C KANO 11°C-33°C LAGOS 23C-31°C PORT HARCOURT 20°C-30°C
Jonathan and Wife at Church
Service, Seek Forgiveness
First Lady narrates how she almost died from a new ailment during
the campaigns Confesses she never dreamt of being a president’s wife
Jaiyeola Andrews in Abuja
With barely 12 days to step
down as Nigeria’s president,
President Goodluck Jonathan
yesterday pleaded for
forgiveness from those he
might have offended while
carrying out his duties as the
country's number one citizen.
He equally described as Continued on page 6
Military Destroys 10
More Terrorists’ Camps
in Sambisa Forest
Senator Iroegbu in Abuja
The Nigerian military in its
continuing offensive against
the Boko Haram terrorists in
Sambisa forest Saturday killed
an unconfirmed number of
the insurgents and destroyed
10 additional camps used by
the Islamic fundamentalists.
The Director of Defence
complicated, his transition
from being a vice-president
to being the president.
This is just as his wife,
Patience, said having done
creditably well, they would
be returning home with their
heads high.
She equally noted that God
Kills scores of insurgents Warns
BBOG against hate campaign
Information (DDI), Maj-
Gen. Chris Olukolade, in a
statement confirmed that the
Dure camp, which was one
of the most prominent camps
in the forest, witnessed the
fiercest battle as the Special
Forces descended heavily on
it before it finally fell.
Continued on page 6
President Goodluck Jonathan; First Lady, Dame Patience Jonathan and members of their family dancing to the altar during a
Special Valedictory Thanksgiving Church Service by the first family at the Aso Villa Chapel in Abuja... yesterday
nan

MPC Likely to Retain Interest Rate
Obinna Chima
Despite the weak fiscal position
of the country, members of
the Central Bank of Nigeria’s
(CBN’s) monetary policy
committee (MPC), which
commence their 244th meeting
today, are likely to vote
majorly for the retention of
the benchmark interest rate
and other monetary policy
tools.
The two-day meeting, which
would be the third this year,
is expected to focus on critical
policy decisions relating to
the economy.
The meeting comes a few
days to the country’s May
29th, 2015 hand-over date
to an incoming Muhammadu
Buhari-led administration.
The financial market has
been relatively calm since the
conclusion of the elections,
even as investors have taken
cautious trading steps and
actions amidst uncertainty
in monetary policy and fiscal
direction of the incoming
administration.
The MPC had this year
Power: Nigeria's Bulk Trader Concludes Negotiations on 10 NIPP Gencos... Pg 9
taken certain bold policy
decisions relating to currency
devaluation, net open position
(NOP) and the monetary policy
rate (MPR) in light of daunting
fiscal and monetary policy
challenges.
Continued on page 6
Monday May 18, 2015
Vol 20. No 7327. Price: N150
www.thisdaylive.com
TRUTH & REASON
TODAY'S WEATHER ABUJA 16°C-33°C MAIDUGURI 15°C-35°C ENUGU 22°C-34°C KANO 11°C-33°C LAGOS 23C-31°C PORT HARCOURT 20°C-30°C
Jonathan and Wife at Church
Service, Seek Forgiveness
First Lady narrates how she almost died from a new ailment during
the campaigns Confesses she never dreamt of being a president’s wife
Jaiyeola Andrews in Abuja
With barely 12 days to step
down as Nigeria’s president,
President Goodluck Jonathan
yesterday pleaded for
forgiveness from those he
might have offended while
carrying out his duties as the
country's number one citizen.
He equally described as Continued on page 6
Military Destroys 10
More Terrorists’ Camps
in Sambisa Forest
Senator Iroegbu in Abuja
The Nigerian military in its
continuing offensive against
the Boko Haram terrorists in
Sambisa forest Saturday killed
an unconfirmed number of
the insurgents and destroyed
10 additional camps used by
the Islamic fundamentalists.
The Director of Defence
complicated, his transition
from being a vice-president
to being the president.
This is just as his wife,
Patience, said having done
creditably well, they would
be returning home with their
heads high.
She equally noted that God
Kills scores of insurgents Warns
BBOG against hate campaign
Information (DDI), Maj-
Gen. Chris Olukolade, in a
statement confirmed that the
Dure camp, which was one
of the most prominent camps
in the forest, witnessed the
fiercest battle as the Special
Forces descended heavily on
it before it finally fell.
Continued on page 6
President Goodluck Jonathan; First Lady, Dame Patience Jonathan and members of their family dancing to the altar during a
Special Valedictory Thanksgiving Church Service by the first family at the Aso Villa Chapel in Abuja... yesterday
nan

2 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 3

4 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 5

6 MONDAY, MAY 18, 2015 • THISDAY
PAGE SIX
JONATHAN AND WIFE AT CHURCH SERVICE, SEEK FORGIVENESS
had lifted her high because
she never dreamt of becoming
a first lady as her husband
at the initial stage was not a
politician.
The first lady, who is having
her second public appearance
since her husband lost the
presidential election, also said
that she was miraculously
healed of an ailment after
the poll.
Jonathan and his wife spoke
during a thanksgiving service
marking their last worship
service at the Aso Villa Chapel.
Meanwhile, Vice-Presidentelect,
Prof. Yemi Osinbajo, who
was invited to the church
service, was conspicuously
absent but sent a representative.
Chaplain of the chapel,
Venerable Obioma
Onwuzurumba, later explained
that Osinbajo's absence was due
to one reason or the other.
While speaking to the
congregation, Jonathan said: "Let
me express our appreciation
to all those who have stood
with us . We came in as
vice-president and the wife,
today we are leaving as the
former president and former
first lady. Whatever we were
able to achieve was through
you. Let me specifically thank
the Chaplain, the clergymen,
the pastors and their wives.
"For the past eight years, we
have every reason to be thankful
to God. Every individual has
his/her own calling. I also
believe that people who take
over political leadership have
their own callings to do specific
things.
"No one, head of a
government, be it at the national
level or the sub-regional levels
can do everything. But when
you leave, you will want to
do something to show that
yes, I was here. I remember
when I was deputy governor
of Bayelsa State, when I took
over as governor, something
that came to my mind. I wanted
to build bridges, since Bayelsa
was more riverine than Rivers
State and I decided that I was
going to build two major
bridges yearly.
Everybody has something to
leave behind. The chaplain has
said that nothing is perfect, if
you wait for perfection, you
cannot achieve anything."
The president acknowledged
that no system is perfect,
adding that every human
system must have an element
of imperfection.
He described the eight years
he had been at the Villa as a
series of blockades because his
transition from vice-president
to president was gradual and
complicated.
"It was intertwined so you
cannot actually draw the line.
Because when the president
was challenged with major
health issues, I was running
the country for sometime, even
before the doctrine of necessity
made me an acting president.
Then I took over at first and
conducting the 2011 election,
I won and I had to run my
full four years as an elected
president.
"So for the eight years that
one has been there, definitely
one is not perfect. We have done
certain things that probably we
shouldn't have done that way,
but we didn't do those things
deliberately (to hurt others).
"So for those whom we have
offended it was not deliberate,
it was circumstances of the
office. So we also plead that
those people should forgive,
we think we have done our
best," he said.
According to him, "You can
do your best and your friends
may misunderstand you. Today
we are talking about leaving.
It is only God that knows why
things go the way they do.
"Ordinarily, May 24 would
have been the last service here.
But that May 24, we will all go
to the National Christian Centre
for the inauguration service.
So for me and my wife, this is
our last day of worship here.
The congregation will continue
because until new government
takes over.
"Though we are leaving as
president and first lady, but we
have not left you, because we
are still in this country, we will
continue to interact one way
or the other, probably along
the line we may even come
closer. I believe some of you
may even come closer, and even
do more meaningful things
together when we leave office.
"The office is quite
challenging, some of you may
desire to see us, I believe as
we move forward, things will
get better. I don't really believe
that it is only in government
that you can do things, even
outside government you can
also do a lot of things.
"The richest people in the
world don't even serve in
government. Dangote has
never been in government.
So you don't need to be in
government to be rich. Bill Gates
has not been in government.
So outside government a lot
of things happen, it is for us
to be committed and continue
to be focused. Me and my wife
really love all of you."
On her part, Mrs. Jonathan
said: "I really thank God for
keeping me alive. He is a
miraculous God. God is so
wonderful in my life because
people prophesied that one of
us will not go back.
"But God has made it
possible, two of us are going
healthy. I never thought in my
life that I will be first lady. I
never dreamt of being the
wife of a deputy governor
because my husband was not
a politician. But God made it
possible and God lifted us up
from deputy governor and here
we are.
"We should be grateful to
God for what he has done. To
me and my family, we praise
God. To our followers, today
it might not be too good but
I want them to be grateful to
God because you have followed
us for a long time from deputy
govovernor, to governor, to vicepresident,
and then president.
You know this position is not
a life thing.
"There is no permanent thing,
so I want you to take it in good
fate; that it is the will of God
and you should be praising
God. God is really wonderful.
That is for the political side.
"To my own real life, I thank
God for keeping me alive today.
God is so wonderful. Just two
years ago, I went through one
operation after the other. Within
one month, I passed through
12 operations."
According to her, "To some
people, they said she is dead.
But God resurrected me. God
told me my daughter, go back.
I will give you second chance,
go and finish your work.
"And today if my husband
lost this election I believe God
has made me finish the work.
"Thank God today we are
parting with life and not with
death. Our doors are open.
"That campaign time was
a trial for me. Satan came in
again and those who know
the former president and his
wife, her corpse was carried
out of this place. We thank
God that I and my husband
are going alive.
"During the campaign period,
devil struck again. In pains I
was rushed to the hospital in
January and the doctors told
me, mama you have to go for
major big operation now now!
"I was worried and asked:
what is it again? The campaign
was still going on and I
wondered how we were going
to explain to Nigerians. You
know even when you go for
check-up, they will be writing
on papers saying all sorts of
things. I said I and my family
have to hand over.
"My husband will continue
with his campaign until the last
day. That was how I went in
for the first major operation
towards the end of January.
And by God's grace I came
out and it was from that
operation that I went to the
campaign ground. And they
told me mama, there is another
bigger operation that you have
to go in for. This one would
not be in this hospital. It (the
hospital) is too small for this
type of operation. You have to
go to a bigger hospital and I
said I will go, I have faith in
God. And that my God will
see me through."
She added: "He has brought
me out for a purpose. I called
my pastor to continue praying
for me. They want me to be a
sacrifice, but I will never be.
Then, do you know I went to
the bigger hospital. I booked
for the operation and I was
asked to go for the campaign.
"They gave me a new date.
I had paid for everything, it
just remained for me to go
to the theatre and the thing
occurred at the hospital. 'Let's
check her again'. By then, my
husband had lost the election.
I had packed out of the Villa,
we were about going. Behold!
I went to four hospitals again
and the thing had vanished. My
doctors were surprised. They
didn't think that could happen.
I told my people doctors say
we could go."
MILITARY DESTROYS 10 MORE TERRORISTS’ CAMPS IN SAMBISA FOREST
According to Olukolade, four
of the camps were located in
a place called Iza within the
forest while three others were
noted to be recently established
by the terrorists before the
assault began.
He also disclosed that
one soldier died when he
stepped on a landmine in the
operation while two others
were wounded.
"The terrorists lost a number
of vehicles mounted with
Anti-Aircraft Guns as well
as armoured vehicles. Some
of the terrorists who escaped
from the camps also died as
they ran into troops' ambush
in some escape routes from
the forest," he revealed.
Meanwhile, Olukolade
also said some of the fleeing
terrorists engaged in suicide
missions at Bitta where they
encountered the Nigerian
troops and Kiskeru across
the border in Niger Republic.
The operation to clear the
terrorists in Sambisa and other
forests, he said, is continuing
as troops on all fronts had been
alerted to be on the lookout
for fleeing terrorists.
"The Nigerian Air Force
is maintaining an active
air surveillance to track the
movement of the terrorists
for appropriate action as the
operation continues," he added.
A border town in northern
Borno, Marte, had fallen last
Friday into the hands of the
Boko Haram insurgents. Marte
had been liberated by the joint
military troops, but many of
its inhabitants had hardly
returned before it fell again
to the terrorists.
Olukolade had explained
that the town was found
empty by the fleeing Boko
Haram members who were
routed from the Sambisa forest,
and merely took shelter in a
deserted village.
However, the operation to
clear all the forest in the region
of the terrorists has continued
with improved vigour by the
military.
Meanwhile, the Nigerian
military has cautioned
#BringBackOurGirls (BBOG)
and other advocacy groups
against what they described
as hate campaigns that do not
help in the ongoing counterterrorism
and insurgency
operations in the North-east.
Maj-Gen. Olukolade, in
a letter addressed to the
leadership of BBOG yesterday,
advised them to be wary
of those he described as
charlatans looking for a
platform to denigrate the
military for selfish and ulterior
motives.
Olukolade stated that all the
military reports on counterterrorism
are based on the
available information and
observance of the elements of
propriety, security, policy and
accuracy which has remained
its guiding principles.
“I feel constrained to call
your attention to the existence
and activities of charlatans in
your midst who have never
had the privilege of responsible
service in public sector but
are now keen to see everyone
in position brought down to
entertain their fancy and envy,”
he said.
According to the Defence
Spokesman, the detractors have
sought to equate military’s
efforts to give accounts of
activities on Nigeria’s war
on terror as propaganda or
cover up.
Olukolade explained that
the battle situation around
could be very fluid and
susceptible to rapid changes.
He said: “The situations
around the battle could also
change accordingly in an
inexplicable manner. This
trend is also compounded by
various perspectives that have
been employed to seriously
polarise the understanding of
the situation along the line
of all kinds of sentiments
and biases prevailing in the
environment.
“We cannot engage in a
shouting match with those
who have other motives.
We can only try to explain
situation to the best of our
understanding and available
information.”
Olukolade also expressed
the concern of the military over
the safety of journalists and
other information seekers in
the war front.
“Our concern remains the
issue of safety for anyone in
search of information. Much
as we want to assist genuine
seekers of information, we do
not feel obliged to commit
scarce resources to satisfying
the fancy of pleasure seeking
adventurers or the curious
and mindless critics who just
want to roam around with
questionable motives.
TOP GAINERS NGN NGN %
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ACADEMY 0.04 1.00 4.17
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TOP LOSERS NGN NGN %
HONEYFLOUR 0.18 3.47 5
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Volume: 185.32 million shares
Value: N1.39 billion
Deals: 3,517
As at Friday 17/05/15
See details on Page 47
MPC LIKELY TO RETAIN INTEREST RATE
The Retail Dutch Auction
System was closed in February
2015, while all demand for
forex was directed to the
interbank market even as the
CBN continues to intervene
intermittently in the interbank
market to moderate volatility
swings.
Latest inflation figures
showed that the consumer
price index (CPI) continued
northwards for the fifth
consecutive month as it stood
at 8.7 per cent in April 2015.
Nigeria’s external reserves
stood at N29.787 billion as at
last Thursday, just as the price
of Brent crude ended at $66.81
a barrel on Friday.
According to analysts at
Afrinvest West Africa Limited,
in the plethora of issues to be
considered, the recent pressure
on exchange rate, external
reserves position, rising price
level and slowing domestic
economic growth would likely
take the centre stage.
They added: “In this light,
we look through our crystal
ball that the decisions of the
MPC would most probably
be to maintain the status quo
on major policy rates while
postponing the possible further
devaluation of the naira to a
later meeting after installation
of new administration.
“However, we believe
pressure in the fiscal and
monetary policy space also
accounted for the sluggish
performance of the economy.
Whilst this may be of concern to
MPC, we note that it may likely
count for less in monetary policy
decisions for May given other
overriding issues that should
take precedence.”
They also argued that the
effectiveness of the 2015 budget
remains questionable, saying
that the broad objective of the
budget is largely unconnected
with the policy disposition of
the incoming administration.
“Hence, we think the MPC
may be more concerned about
the fiscal stance of the incoming
government rather than the
policy thrust of the transition
budget,” the report added.
Also, analysts at the Financial
Derivatives Company Limited
(FDC), while considering recent
National Bureau of Statistics
data that showed a contraction
in economic growth to 3.96
per cent in the first quarter of
2015, from 6.21 per cent in the
corresponding period of 2014, as
well as the uptick in inflation,
argued that the country could
be moving towards stagflation.
Stagflation is a macroeconomic
condition in which a country
experiences a reduction in real
economic growth at the same
time as facing an increase in the
general level of prices, which
is inflation.
“In order to stimulate growth,
the government is likely to
spend more through increased
borrowing and advocate a lower
interest rate. This reduces
unemployment and boosts
growth but is likely to result
in a higher level of inflation
rate. Nonetheless, if the level
of economic growth achieved
by the accommodative policy
is significant, the impact of a
high rate of inflation may be
muted,” the FDC added.
It noted that the current
CBN’s inflation target of six
to nine per cent is unrealistic
with the current fundamentals
in play.
“Targeting an inflation band
of 10-13 per cent allows the
CBN more room to tinker with
the interest rates to stimulate
growth. Encouraging bank
lending to specific sectors of
the economy using subsidised
interest rates alongside a more
practical inflation target helps
to address the looming issue
of stagflation.
“If policy measures by
the new administration are
aimed at reviving productivity
and improving returns on
investment, the real sector
will have the incentive to lift
capital expenditure. Hence,
Nigeria will be on the transition
path from stagflation to higher
and sustainable real economic
growth," it added.
Buhari is obsessed with
development and long-term
competitiveness of the Nigerian
economy, aimed at improving
the welfare of Nigerians.
"He will have to deal with
some trade-offs especially
allowing for some inflation
whilst investing significantly
i.e. 10 per cent of GDP in
infrastructure to jump start the
economy,” an FDC report added.

7
THISDAY • MONDAY, MAY ,
STARTERS
Two-Minute Briefing
INTERNATIONAL email: foreigndesk@thisdaylive.com
E
MONDAY MAY 18, 2015 • T H I S DAY
An Egyptian court has
pronounced death sentences on
former president Mohammed
Morsi and more than 100
other people over a ma s
prison break in 2011. Morsi
is already serving a 20-year
prison term for ordering the
a rest and torture of protesters
while in power.
Egypt’s religious authorities
wi l now have to give their
opinion before the sentence
can be ca ried out. Morsi’s
supporters from his Muslim
Brotherhood movement have
described the charges against
him as “farcical”. He was
deposed by the military in
July 2013 fo lowing mass
street protests against his rule.
Since then, the authorities
have banned the Muslim
Brotherhood and a rested
thousands of hi supporters.
In a separate case on Saturday,
an Egyptian court banned
hardcore football fan clubs
known as the Ultras, who
played a leading role in protests
during the 2011 uprising
agains then-president Hosni
Mubarak.
Inside the dock, Morsi
and members of his Muslim
Brotherhood group chanted,
“Down with military rule!”
after the judge read out his
ruling against him. The judge’s
request for the death sentence
in connection with the jailbreak
case was refe red to the grand
mufti, a high religious cleric,
for ratification.
However, the mufti’s
recommendation is not
binding. Even if he advises
agains the death sentence, the
judge can sti l go ahead with
it. The Brotherhood issued a
statement condemning the
sentence and ca led for an
escalation of protests.
Bu the tight security grip
in Egypt means that it is
highly unlikely to see mass
demonstrations. Hundreds of
Brotherhood supporters are
already behind bars, while
others are keeping a low
profile for fear of a crackdown.
Morsi, who escaped from Wadi
Natroun prison in January 20 1,
was a cused of colluding with
foreign militants in a plo to
free Islamists during the ma s
prison breaks.
Many of his 104 codefendants
were Palestinians
a cused of being members of
militant group Hamas, and
were charged in absentia.
Egypt’s Former President Sentenced to
Death
The court also i sued rulings
on another case, sentencing
16 Muslim Brotherhood
members, including deputy
leader Khairat al-Shater, to
death on spying charges.
Morsi, who also faces
espionage charges, will be
i sued a verdict in that case
at a later date.
Hundreds of people have
been sentenced to death in a
crackdown on the Brotherhood
following Morsi’s removal in
2013. However, it is thought
that only one such death
sentence has been carried
out so far.
A l death sentences must
first be sent to the grand
mufti, Egypt’s highest religious
authority, for his non-binding
opinion on whether they
should stand. Convictions
are sti l open to appeal, even
if the grand mufti gives his
approval. Morsi’s supporters
have condemned the cases
against him as a political
show trial.
Amr Da rag, a former
minister in Morsi’s government,
described Saturday as “one of
the darkest days” in Egypt’s
history. “These latest charges
are another deeply disturbing
attempt to permanently erase
democracy and the democratic
proce s in Egypt,” he said in
a statement.
Tibetan exiles are ca ling for
China to release a high-ranking
monk who disappeared 20 years
ago when he was just six years
old. The boy was detained
by the Chinese authorities
jus three days after the Dalai
Lama declared him to be the
reincarnated Panchen Lama.
The Panchen Lama is the
second most important figure
in Tibetan Buddhism. Many
consider him to be one of
the world’s longest-serving
political prisoners. China has
refused provide details of the
whereabouts of Gedhun Choekyi
Nyima. In 1995 it anointed its
own Panchen Lama, Gyaltsen
Norbu, who while popular
among some Tibetans has
been described by exiles as a
“stooge of the atheist Chinese
Communist Party government”.
Wangdue Tsering, pre s
spokesman for the Office of
Tibet in London, told the BBC
that events were taking place
on Sunday acro s the world
to mark the 20th anniversary
of Gendhun Choekyi Nyima’s
disappearance, including a
candle-lit vigil outside the
Chinese emba sy in London.
“We are appealing to the
world community to help us
find out where the Panchen
Lama is,” Mr Tsering told the
BBC’s Asia analyst Michael
Bristow. “It’s 20 years since
he disappeared and we don’t
know where he is, where his
family is and how he is. We
want the Chinese authorities to
give some information.”
The Dalai Lama has in the
past strongly criticised China for
“brazen meddling in the system
of reincarnation” - especia ly the
reincarnation of the Dalai Lamas
and Panchen Lamas. Tibet is
governed as an autonomous
region of China. Beijing claims
a centuries-old sovereignty over
the region, but many Tibetans
argue that Tibet was colonised.
China sent in thousands
of troops to enforce its claim
on the region in 1950. Some
areas became the Tibetan
Autonomous Region and
others were incorporated
into neighbouring Chinese
provinces. In 1959, after a failed
anti-Chinese uprising, the 14th
Dalai Lama fled Tibet and set up
a government in exile in India.
Beijing views the Dalai Lama as
a separatis threat, although he
has repeatedly stated that his
goal is for Tibetan autonomy
rather than independence.
China Urged to Release Panchen Lama
after 20 Years
IAAF DIAMOND LEAGUE
70 T H I S D AY •MONDAY MAY 18, 2015
MONDAYSPORTS
Group Sports Editor Duro Ikhazuagbe
Email duro.ikhazuagbe@thisdaylive.com
Okagbare Takes the Gold in Shanghai
Duro Ikhazuagbe with agency
report
Africa and Commonwealth
sprint champion, Ble sing
Okagbare, sign-posted what
to expected at this year’s
IAAF World Championship in
Beijing, China when she won
the Shanghai leg of the 2015
Diamond League yesterday.
Okagbare did it easily, beating
last year’s world leader, Tori
NESTLE MILO BASKETBALL
L-R: Edo State Governor, Adams Oshiomhole; Kenyan runners, Amos Mitel and Korio Alex Olotptip; Leul Gabrasilasis of Ethiopia and Representative
of the Group Managing Director/CEO of Heritage Bank, Mr. Ifie Sekibo at Okpekpe, Mr. Emeke Anene at the prize presentation
ceremony of the 3rd Okpekpe 10km Road Race…last weekend
CBN Tennis Main Draw Serves off Today
After two days of qualifying
rounds, the Main Draw of the
37th Central Bank of Nigeria
Senior Open Tennis Championship
will get underway today
with no fewer than 40 players
listed for action.
Nigeria Tennis Federation
Secretary General, Gloria
Ekwepmu disclosed that the men
are to compete in the round of
64 while the main draw for the
ladies is 32.
There will also be a round of
32 for the men’s doubles while
the ladies wil compete in round
of 16.
Ekwempu stated that everything
is set for what would be a
memorable championship which
is featuring a high number of
participants.
“As it has been the tradition,
we got a very high number of
entries and we are glad that the
qualifying matches are almost
completed, she said on Sunday
afternoon,” she said.
Meanwhile, Nigeria’s secondranked
female player Sarah
Adegoke is confident she can go
al the way to claim the top prize
in the singles to help her reclaim
her top ranking which she lost to
Christy Agugbom late last year.
Adegoke fel to debutante
Elizabeth-Garos- Pam in the
semifinal last year and Pam went
on to lose to Agugbom which
saw her rose considerably on
the rankings.
“I’m in good shape and I’m
looking forward to win the CBN
whic has been my long-term
dream,” she said.
The men and women’s champions
will receive N7 0, 000 while
finalists will get N500,000
bare, led the Nigerian quartet
of Regina George, Dominique
Duncan and Christy Udoh, to
win the 4x200m gold of the
Bahamas Relay.
Fraser-Pryce was not
overly concerned with her
11.25 opener.
“It was one of those races,”
she said. “I have time to get
it right.”
Asked if she would now have
her work cut out in defending
her title in Beijing later in the
year, Fraser-Pryce said: “I always
have my work cut out. No
one hands anything to you.”
Je f Henderson led the men’s
long jump from the first round
to the fifth, his 8.26m coming
on his first attempt.
Russian Long Jump star,
Aleksandr Menkov, worked
his way into contention, his
winning jump coming in the
fifth round. Both Chinese
jumpers had their best efforts
in the fourth round in
a competition that swung any
number of ways.
Olympic champion Greg
Rutherford finished seventh
with 8.05m on his first-round
attempt, his lowest placing
in a final since July 2012. The
remainder of hi series was
four fouls and a run-through
6.52m.
Caterine Ibarguen led the
women’s triple jump from
start to finish, showing remarkable
consistency early in
unpredictable wind conditions
– 14.68m, 14.70m, 14.68m
and 14.71m on her first four
jumps, before nearing her
world lead with 14.85m in
the fifth round.
Dinkesa Blames Poor
Okpekpe Race Outing on
Hot Weather
Duro Ikhazuagbe
Three-time Obudu Mountain
Race champion, Ethiopian Abebe
Dinkesa at the weekend blamed
his inability to finish in the top
20 of the 3rd Okpekpe 10km
Road Race on the hot weather
condition of the day.
Abebe who along with his
Ethiopian Dawi Fikadu were
tipped as favourites for the
Okpekpe $25,000 top prize
failed to reproduce the feat
that made him a household
name in half marathon in the
continent. Fikadu placed ninth
in 30:18mins in the race Kenya’s
Alex Korio Olotptip won with
29:20mins while Ethiopia’s Leul
Gabrasilasis (29:22) and Amos
Muteh of Kenya (29:24) were
second and third respectively.
Dinkesa told THISDAY while
receiving treatment from medical
personnel tha the weather was
too hot for him.
“You see (pointing at his
soaked top, short and aching
leg) not good. Hot weather, bad,”
muttered Dinkesa who finished
as first runner behind Kenya’s
Kemboi Hilary Kipkorir on this
same course last year.
Asked if he was coming
back next year, he smiled and
nodded in affirmation. Of course
the $25,000 top prize money
appears too tempting to ignore
in just a 10km race.
But before then, the 2008,
2010 and 2012 Obudu Mountain
Race champion admi ted
he would return to Nigeria in
late November to hunt for the
do lars on offer in Obudu Resort.
“I wi l come to Obudu.
Weather better than this,”
stressed Dinkesa with finality
as he was been chaperoned into
the a signed bus for the invited
foreign athletes by Nigeria’s best
quarter miler of a l times, Falilat
Ogunkoya-Omotayo
In the female category of the
Okpekpe race, Kenya’s Tanui
Nkele led the strong field in
33:34 to claim the top prize while
her compatriots Rino Ripo (33:52)
and Mary Wasera (34:31) made
it a 1,2,3 clean sweep for the
visitors from Nairobi.
The first prize winners in both
the male and female categories
went home with $25,000 each,
while the second and third prize
winners got $15,000 and $10,000
each in both the male and female
categories.
Edo State Governor, Adams
Aliyu Oshiomhole, fresh from
ma ri
Yejide Girls Set, as Lagos, Oyo Dominate
Western Conference
Yejide Grammar School Ibadan
Oyo State, which has picked the
first semi final ticket in the girls
category at the ongoing Western
Conference playoffs in the Nestle
Milo Secondary Schools Basketbal
Championship taking place in
the indoor sports hal of Liberty
stadium, Ibadan.
The hardworking Ibadan side
defeated Qu en Elizabeth School
Ilorin, Kwara State 53-05 points.
Team coach, Yemi Abiodun,
praised his girls for their resilience:
“I asked my players to take it
easy and play their normal
game without
State silenced highly rated
Ugborikoko Secondary School
Wa ri, Delta state by 10-08.
In the other quarter final
matches, Anglican High school
Ado Ekiti, defeated Regina
Mundi Girls Secondary school,
Iwo, Osun State by 52-05, while
Wesley Girls Senior of Lagos state
over powered Qu en of Rosary
ColegeOnitsha, Anambra state,by
56-08.
The semi final matches are
biled for today at the same venue
with hosts, Yejide Grammar School
Ibadan c
Bowie, by almost a metre, 10.98
to 11.07. Jamaican Olympic
champion She ly-Anne Fraser-
Pryce trailed home in fifth place.
“My race was pre ty good,”
Okagbare said after the race. “It
is not easy to compete with the
best of the world – but I won. I
focused on my start. Norma ly
I don’t have the best start, but
now I was leading from the
beginning.”
Barely a fortnight ago, Okagbeau,
Lara, the previous day
finished top in the VIP race in
88 mins.
“I want to congratulate myself
just as the winner congratulated
himself because doing the 10km
after a l the activities of yesterday
(his ma riage ceremonies) reassured
me that I am sti l fit. I
want to congratulate a l those
who have participated in this
year’s edition. I congratulate of
course those who are going away
with prizes, but we should even
congratulate more those who are
not going away with prizes but
who participated in this exercise.
I think I am one of those who
will not be going away with a
prize in spite of my e fort,” joked
Oshiomhole who was very happy
for the international exposure the
race has created for him and the
Okpekpe community.
“I am excited that Okpekpe
community is not only now on
the world map but people from
various parts of the world, from
various countries from various
continents are now participating
actively in what has become
known as the Okpekpe Annual
10Km race and we saw tha this
year we have more participants
than previous years and by logic,
we wi l expect that every year,
more and more people wi l
participate in it,” he noted.
Oshiomhole insisted that his
administration’s investment in
opening up rural Edo State
communities through ma sive
construction of modern roads
has continued to yield positive
results.
“For me, this is one practical
way to remind a l of us tha there
is life outside urban city and that
the real Nigerians, the forgo ten
majority are in our rural areas. So
Okpekpe people I congratulate
you for playing host to a l of
us,” concludes the Edo State
chief executive who also used
the o casion to ca l on those in
the hospitality industry to come
over and invest in hotels and
other areas in the sector.
42 athletes from 15 countries
participated in the 3rd Okpekpe
race that received IAAF Bronze
Label status late last year.
Amongst the dignitaries that
watched the race was Mrs
Lara Oshiomhole, the newly
ma ried wife of the Edo State
governor No lywood stars
like Kanayo O. Kanayo,
Desmond E liot, Aki and
Pawpaw famed acto
In the boys’category, Don Domingo
Secondary School Wa ri, defeated Ado
Grammar School Ekiti by 28-15, while
Government Secondary Ilorin, Kwara
State sent host boys Loyola Co lege
Ibadan packing by 37-33. Lagos
and Ogun state walked over their
opponents from Anambra and Osun
State respectively in the other quarter
final match. The Anambra and Osun
boys teams were disqualified during
the scr ening exercise.
The semi final pairings in the boys
category are Lagos versus Kwara in
first semi final game and Ogun State
versus Delta state also today.
Leopards Devour Warri
Wolves in Congo
N
NEWS
PDP Rules out Change of Name
The Peoples Democratic Party
(PDP) has stated that despite
losing control of the federal
government and some of its states
in the last general election, it is still
the truly national political party with
strength and spread enough
to regain pre-eminence.
Page 8
INTERNATIONAL
Egypt’s Former President Sentenced
to Death
An Egyptian court has pronounced
death sentences on former
president Mohammed Morsi and
more than other people over a
mass prison break in . Morsi
is already serving a -year prison
term for ordering the arrest and
torture of protesters while in
power. Page E
SPORTS
Okagbare Takes the Gold in Shanghai
Africa and Commonwealth sprint
champion, Blessing Okagbare,
sign-posted what to expected
at this year’s IAAF World
Championship in Beijing, China
when she won the Shanghai leg
of the Diamond League
yesterday. Page 70
government and some of its states
the truly national political party with
MONDAY MAY 18, 2015 • T H I S DAY
8
NEWS News Editor Davidson Iriekpen
Email davidson.iriekpen@thisdaylive.com
Chuks Okocha and Onyebuchi
Ezigbo Ezigbo in Abuja
The Peoples Democratic Party
(PDP) has stated that despite
losing control of the federal
government and some of
it states in the last general
election, it i sti l the truly
national political party with
strength and spread enough
to regain pre-eminence.
The party therefore stated
that it was not contemplating
a change of identity, noting
tha the una sailable vision of
its founding fathers remains
timele s in building a Nigeria
of the co lective wish and
aspirations of a l citizens.
A statement by the
National Publicity Secretary
of the PDP, Olisa Metuh,
yesterday, said having been
the guardian of Nigerian
democracy for 16 years
during which it nurtured
and blossome democratic
governance as we l as etched
its name in the pantheon of
good governance, the PDP
wi l not in the circumstance
of ephemeral loss of power
change its identity or its
time-honoured characteristic
values.
The party said though it
is resolutely commi ted to its
present structures, it would
not close its doors t other
political parties wishing to be
a similated into its fold as the
best vehicle for the fulfilment
of political aspirations of a l
Nigerians regardle s of tribe
and religion.
“We have a name, tradition
and values. 16 fruitful years
as the guardian of Nigerian
democracy cannot be nu lified
by the reason of temporary
setback. We sha l rise beyond
a l and regain ou rhythm.
Our colour remains green,
white and red and power
sti l belongs to the people.
And to assert that we are
proud of the su ce ses of our
succe sive leaders in taking
Nigeria to its present height is
an understatement, which the
pa sage of the next four years
under the A l Progressives
Congre s (APC) wi l certainly
prove,” the party said.
It added that the fact
that the PDP is going into
opposition would not mitigate
its ability as the flagship of
democracy, maintaining that
it wi l soar higher in proving
credible alternative as a
constructive opposition, far
removed from the wrathful
destruction tha the APC lived
thus far.
“We have no doubt lifted
the banner of democracy
very high and only wish
that the APC wi l move
beyond excuses when it
takes over in a few days
time to reconcile mouthful
promises with the reality of
fulfilment. We have not only
laid a solid foundation, we
have built to a height that
no denial can wish away.
“We therefore ca l
on a l our members to
ensure that they are not
in any way distracted but
remain focused as the unity,
cohesion and regenerative
capacity of the PDP is very
much intact, election loss
notwithstanding.”
Meanwhile, the Labour
Party (LP) yesterday said
there was no move for an
a liance or merger with
the PDP or any other
party, describing any such
insinuation as the handiwork
of some mischievous people.
There were reports late
last week of an impending
merger of the PDP with the
LP, All Progressives Grand
A liance (APGA), Hope Party,
and KOWA Party to form a
formidable mega opposition
party to cha lenge the APC.
It stated that PDP members
including Governors Sule
Lamido, Godswi l Akpabio,
Babangida Aliyu and a few
others have been pushing
for an a liance with other
parties.
According to the report,
other PDP chieftains such
as former defence chief,
Theophilus Danjuma, and
former finance minister,
Adamu Ciroma, suppor the
move, and have planned for
a special convention after
the handover on May 29
where a formal merger
process would start.
The report also disclosed
that the merger option was
being considered because the
PDP Rules out Change of Name
word “PDP” had become
toxic and un-se lable to
Nigerians and as such, it
wi l be counterproductive
to continue to use it as a
viable opposition party.
However, while reacting
to the reports, LP said it
was highly irresponsible for
anyone to drag its esteemed
name into rumours of an
impending merger
In a statement issued by
the National Secretary of the
LP, Kayode Ajulo, the party
debunked the report as “false
and diversionary,” stating
that at no time whatsoever
had the leadership of the
party entered into merger
talks with any other party.
“The rumoured talks of
a merger between the LP
and other parties such as
the PDP is a figment of the
fevered imagination of some
mischievous peoples. Such
an i sue has not been raised
within the party exco at all,
and neither has anyone or
any party has any agreement
on the issue with us.
“It is highly irresponsible
for anyone to drag the
esteemed name of the Labour
Party into rumours of an
impending merger. If at all
anyone has entered into any
such talks, he is doing it
strictly on his own, not in
the name of the LP,” the
National Secretary said.
Ajulo affirmed that
political power o relevance
for its own sake is not the
goal of the LP, adding that
the party was commi ted
only to the cause of the
Nigerian workers and the
masses in general.
“Our goal is not just to
seek power o relevance; we
are committed to a leviating
the su ferings of all Nigerians.
We are therefore prepared to
work with anyone who wi l
pu the Nigerian people first,
and seek to bring succour
to the homes of Nigerians
everywhere across the nation.
“We wi l cooperate with
any government, group and
individual that shows with
its policies and actions that
it truly seeks to bring relief
to Nigerians, that is also our
desire, so it is only reasonable
to cooperate with such groups,
if any,” Ajulo said.
He described such a
proposition as impo sible,
“that cannot be. LP is
a discipline party, It is
impossible for anybody to
consider a serious, any talks
which exclude the National
Secretary of the party as we l
as the National Working
Committee (NWC) of the
party, so I can a sure you
tha there were no such talks.”
Ajulo, who said he just
returned into the country
after a trip to Britain as an
Accredited International
Observer to monitor the just
concluded general elections
of May 7 in the United
Kingdom, also stated that
he had remained in close
communications with the
party’s national chairman and
other national hierarchy a l
through his trip, and that no
mention had been made of
any merger talks with anyone.
“Maybe the advocates
of such merger are just
expressing their wishful
thinking. It is my opinion
tha this a legation is a mere
rumour and nothing but a
figment of their imagination,”
he said.
Says its ideology, national outlook intact Labour Party denies merger talks with party
MOURNING A BELOVED UNCLE
L-R: Delta State Governor, Dr. Emmanuel Uduaghan; his wife; Roli; and Manager, Nigerian National Petroleum Corporation (NNPC), Wa ri,
Mr. Omaghomi Victor, a the burial of Pa. Samuel Uduaghan, at Abigborodo Wa ri North Local Government Area . weekend
Chika Amanze-Nwachuku
Seplat Petroleum Development
Company has said the pioneer
tax incentive granted it made
it po sible for the company to
boost oil and gas production,
provide employment
opportunities and help grow
the Nigerian economy.
Responding to a recent
a legation that it had benefi ted
from improper tax waivers in
relation to its grant of pioneer
tax incentive by the federal
government, Chief Executive
Officer of the company, Austin
Avuru, said in a statement
that in 2013, the company
applied for pioneer status
incentive through the Nigerian
Investment Promotion Council
(NIPC) as the government body
responsible for investment
promotion.
Avuru said the company
followed the prescribed
process for application and
provided a l the information
and documentation required
in support of the application.
The incentive, he noted
was part of an industry wide
exercise and Seplat was one out
of 15 oil and gas companies
that were granted the pioneer
tax incentive.
According to Avuru, Seplat
had fu ly re-invested the tax
savings from the grant and
has delivered verifiable results
thereto.
He said: “Seplat believes that
it is an excellent example of the
whole purpose of establishing
the pioneer incentive scheme.
The Company has fu ly reinvested
the tax savings from
the grant and has delivered
verifiable results thereto.
“Seplat is now a key supplier
of gas to the domestic market,
which is the direct outcome of
the pion er incentive granted to
SEPLAT and aims to continue
to contribute meaningfu ly to
the growth and development
of the Nigerian economy.”
Reeling out benefits
from the tax holiday to the
Nigerian economy, Avuru
said: “The grant of pioneer
status has made it po sible
for Seplat to boost oil and
gas production, provide
employment opportunities,
impact on their communities
and help grow the Nigerian
economy.”
He added: “Gas production
rose from an average of
90mmscfd to a cu rent level
of around 200 MMscfd with
a target of 300 MMscfd by
the end of 2015. This increase
has been driven by an over
US$300 mi lion investment in
gas development over the tax
holiday period.
Oil production has grown
from a daily average of 14,000
ba rels in 2010 to the cu rent
daily rate of over 70,000 ba rels.
The statement also added that its
royalty payments have gone up
from an average of $40 mi lion
per annum in 2010 to US$147
million in 2014.”
Furthermore he said the
company had continued to fund
the NPDC/SEPLAT JV to drive
these outstanding growths in
oil and gas production despite
being owed substantial sums in
unpaid cash-ca ls from Nigerian
Petroleum Development
Company. (NPDC).
The statement added that the
tax incentive has also helped
Seplat in creating over 300 new
jobs and delivering several
community development
projects in their operating
areas, adding “the multiplier
effect of our over US$7 0 milion
in annual expenditure through
Nigerian contractors adds over
1,000 additional jobs.”
Seplat Reels out Benefits of Tax Incentive
to Nigerian Economy
From May 29, the presidentelect,
Muhammadu Buhari,
wi l drop ‘General’ as his title,
while his deputy seeks to be
described with his academic
title of profe sor.
Briefing journalists in
Lagos yesterday, the head
of the Directorate of Media
and Publicity of Buhari’s
campaign organisation,
Garba Shehu, said Buhari
would simply be addre sed as
Muhammadu Buhari, President
and Commander-in-Chief of the
Armed Forces of the Federal
Republic of Nigeria.
Shehu said Buhari would
not like to be addre sed as
Mr, Alhaji or Ma lam either
but simply as Muhammadu
Buhari.
“From May 29, 2015, the
president-elect and vicepresident-elect
are to be
respectively known and
addressed as Muhammadu
Buhari, President,
Commander-in-Chief of
the Armed Forces Federal
Republic of Nigeria and Prof.
Yemi Osinbajo, SAN, Vice
President, Federal Republic
of Nigeria.”
Buhari may have
fo lowed the foot steps of
former President Olusegun
Obasanjo who upon his
a sumption of office in 1999
as a democratica ly-elected
president, je tisioned the prefix
of ‘General’ for Chief.
Buhari to Drop ‘General’ from
His Name from May 29
CITYSTRINGS
50 T H I S DAY • MONDAY, MAY 18, 2015
T
he time was 3.14pm on a certain
Monday. The venue was the
hangar of International Helicopter
Flying School (IHFS), Emene,
Enugu. Under the blistering sun
was the maestro, Group Captain
Ayo Jolasinmi and hi student- Edet Okon.
No, they were not part of the new order
that worships the sun. The reason for their
outdoor presence was not far-fetched. It was
time for practice.
And so they boarded the helicopter as
co-pilot and pilot. The student alongside his
instructor after fo lowing the ground safety
rules took o from the runway of the Enugu
International Airport, with this reporter as a
pa senger.
Round and round the helicopter flew,
circling the airport three times. The silence
in the helicopter was intermi tently broken
by the static and air waves emanating from
the earpiece and interjection of soft co rections
from the teacher to the student.
Soon enough, both the rector and this journalist
got down and the studen took o f on his
solo flight. With arms of steel sharpened by
his desire to be the best he can, he steered the
helicopter and wa soon soaring in the skies.
Okon is merely one of the numerous
students (presently 23 students and 43 past
grandaunts) that a tend the IHFS to harne s
and nurture their dreams of soaring the skies
as a helicopter pilot.
For such students, their a traction to flying
borders in between soaring with the elements
and enjoying the abundant opportunity flying
o fers.
Jolasinmi, who also doubles as the rector
of the school, tota ly agrees with this. With
a smile playing on his lips he said: “Flying
is a magnificent job. It’s one job that brings
ou the real you and demands a l from you.
“Especia ly flying helicopters brings you
close to nature. It’s a versatile flying unlike
the fixed wings (aircrafts and aeroplanes).
“With the helicopters, you can save soul,
rescue people on the seas and mountains. You
bring firing power to bear in every facet of
human endeavour. Flying the helicopter is
a pa sion.
“If you have the desire, you can neve regret
it. It’s fulfi ling and satisfying. However, it’s
demanding. It’s demands in depth search
for knowledge, right a titude and safety
consciousne s.”
For him, IHFS, a private-public partnership
initiative, was borne out of the need to help
anyone else with a pa sion for flying to realise
that ambition.
He believes that this unique partnership
is a versatile tool for the enhancement of
civil-military cooperation, thereby harne sing
available resources to stimulate the development
of the aviation industry in line with the
transformation agenda of President Goodluck
Jonathan’s administration.
Thus, he said the IHFS is positioned to
infuse impe cable and dogged military flying
experience into the robust and versatile civil
aviation world through its enriched knowledge
base training.
In the Beginning
It a l started as a dream of the former Chief
of Air Sta f (CAS), Air Marshal Mohammed
Umar, but has over the years evolved under
the administration of the su ce sive Air Force
Chiefs.
With its fu ly-integrated training program
designed towards making students become
safety conscious, ski led and profe sional
pilots, IHFS believes tha the trainees would
be competent in operating at a l levels in the
commercial, military and corporate aviation
sectors.
Indeed, the school’ se ling point lies not
only in providing it students with a solid
foundation in a l critical areas of aviation theory
and flight ski ls, but also teaching them how
to work e fectively in the constantly changing
environment of the skies.
Thus at its inception ceremony held in Lagos
two years ago, when the school was officia ly
a credited and certified, the then Director General
(DG) of the Nigeria Civil Aviation Authority
(NCAA), Captain Fola Akinkuotu, had urged
them to strictly adhere to safety procedures.
Flying School
IHFS wa set up by TRIAX Nigeria Limited
and Aeronautical Engineering & Technical
Services Limited (AETSL), a subsidiary of NAF
Holding Company, which formed AETSL-TRIAX
Limited through joint venture a rangement.
With a sta f strength of 50, including 25
civilians and 25 Air Force personnel, It’s vision
is to harne s a formidable helicopter flying
school tha trains and grooms youngsters into
profe sional pilots.
With the fees are as high as 197, 980 do lars
(approximately N16mi lion) for each student,
the idea to start the school in 2010 have attracted
students with the pa sion for flying
acro s a l sectors.
Already, the services including the police have
had some of their students pa s through the
school. Also, some states like Yobe and Enugu
have sponsored some of their bri liant students
to the school. Not left out are government
personnels and few private individuals.
However, having the pa sion to fly is not
a l it entails. The aspiring student must not
be le s than 17 years of age and must have
five credits in O’level including Maths and
English.
THISDAY gathered tha the school however
runs three types of training programmes which
includes the private pilot license, instrument
rating and commercial pilot license.
While the private pilot license programme
that leads to the award of Private Pilot License
(PPL) is intended for student pilots learning to
fly as a hobby or those planning to purchase
their own helicopters, it is also the first step on
the path to Commercial Pilot License (CPL).
A cordingly, the total fligh training consists
of an average of 24 to 47 flight hours on the
R66 helicopter and Fly it simulator.
The course is inclusive of training in basic
flying instrumen to ensure tha the trainees
have the capabilities to safely operate under
Special VFR conditions and improve their
instrument scanning techniques.
For the instrument rating, it gives a pilot
the ability to cope with unstable weather
conditions in which he/she might operate
from time to time.
Thus, the instrument rating is e sential for
both career and safety reasons and a fords
the holder of the rating more versatility than
a non-instrument rated pilot and ultimately
makes the holder safer and more confident
in the air.
For those who desire the license for commercial
purposes, the school designed a sy labus
to prepare them for the practical demands
of profe sional flying through the total flight
training which consists of an average of 55
to 120 flight hours (PPL inclusive) on the R66
helicopter and Fly it simulato respectively.
For eligibility at the end of the course,
the student’s cours encompa ses advanced
maneuvers and additional cro s country flights
to mee the requirements for Commercial Pilot
License.
Growing the Dream
That was the dream at its inception bu the
school has grown beyond what it started with.
With more instructors, additional helicopters, a l
turbine-engine, the school has certainly come to
stay, especia ly with its toga of being the first
helicopter training school in the sub-region.
According to Jolasinmi, since the school is
built on the tripod of profe sionalism, experience
and safety, they have experienced proficient and
dedicated flight and ground instructors who
Features Editor Adeola Akinremi
Email adeola.akinremi@thisdaylive.com
Chiemelie Ezeobi writes on a new breed
of young, budding high flyers whose
passions know no bounds
Squadron Leader Doyin Komolafe (L) instructing the pilots for take off
An Air Force instructor with some students
High Flyers
It all started as a dream
of the former Chief of Air
Staff (CAS), Air Marshal
Mohammed Umar, but
has over the years evolved
under the administration
of the successive Air Force
Chiefs
16 T H I S DAY • MONDAY, MAY 18, 2015
POLITICS
Plateau’s Peace of the Graveyard
Will Plateau State – a one-time serene and tourist destination –
ever know peace again, asks Seriki Adinoyi
CONT’D ON NEXT PAGE
T H E M O N D A Y D I S C O U R S E
O
ver the last decade, the political
crisis over ‘indigene’s rights’
and political representation
in Jos, the capital of Plateau
State, has evolved into a
protracted communal crises
that had spread into even the remotest of
the vi lages in the state, with at least 4,000
persons ki led since late 2001, when the first
majo riot broke out in the state.
Fourteen years on, only the heavy presence
of military and police forces has brought
about a fleeting and fragile peace in the state,
which is constantly punctuated with the many
ki lings in the vi lages. But evidently, a heavy
military presence is no durable solution.
The peacefu lifestyle of Jos gradua ly gave
way to suspicions and tensions between
ethnic groups, caused either by a location of
resources, electoral tu sles, contest over land
rights, or religious domination fracas, which
eventua ly amalgamated into an explosive
mix that has consumed hundreds of lives.
The presence of we l-organised armed
groups in both the urban and rural areas
became the order of the day, with a tendant
proliferation of weapons, and significant
rise in gun fatalities among the citizens.
Subsequently, long-standing tensions
within sma ler towns and vi lages in the
state escalated into violence.
The ki lings only came to a hal tentatively
when the federal government declared a
state of emergency in 2004, after about 700
people were slaughtered in cold blood in
an a tack on the town of Yelwa in southern
part of the state.
Clashes between Muslim and Christian
youths rocked the state again in 2008 after a
result local government election was violently
contested in Jos North Local Government
Council, leaving dead at least 700. The year
2010 was one of the worst on record, with
more than 1,000 lives lost. The sleeping vi lage
of Dogo Nahawa was swooped upon by
suspected Fulani militia, leaving hundreds
of beheaded women and children in the
wake of it. This was shortly after a crisis
broke out at Dutse-Uku over an e fort by
a man to rebuild his house that was razed
in an earlier crisis.
The list is endle s, and human cost of the
violence is immense. The number of interna ly
displaced persons that have become homele s
since 2001 peaked in 2010, with over 50,000
persons in various camps across the state.
After the 2008 riot alone, more than 10,000
were displaced, while violence in 2010 resulted
in about 18,000 people fleeing the clashes.
Numerous houses and shops in Jos have
been burnt, with blackened remnants li tering
the streets in many parts of the city.
A l sides of the divide su fered massive
losses. The violence and displacements of
persons have re-shaped Jos and many rural
se tlements, as neighbourhoods became
religiously segregated, with many ‘no-go-areas’
altering the pa terns of residency, business,
transportation, and trade.
Students of the University of Jos, situated
in the neighbourhood of the Muslim community,
su fered more, as many o f-campus
students became victims of the onslaught.
In spite of the huge losses, the people
have refused to steer clear of crisis; they
have refused to co-exist peacefu ly, even with
succe sive governments’ e forts, showing that
there are deep-seated hatred and animosity
which must be addressed if enduring
peace must return to the once serene and
peaceful Jos.
Geographica ly, Plateau State lies in the
middle Belt of Nigeria, between the predominantly
Muslim north and the mostly
Christian south. Historica ly, Jos was one
region tha the Usman da Fodiyo Jihad could
not ove run, after it conquered and took
over Bauchi and subsequently established
an emirate therein.
The city of Jos, established around tin mining
activities during colonial times, a tracted
migrants from a l parts of Nigeria to work in
the mines and with the colonial administration.
The colonia legacy of indirect rule initia ly
relied on northern emirate structures. Later,
political power was transfe red to the ‘native’
tribes of the Plateau.
Among these, the Berom were one of the
larges tribes and they most voca ly defend
‘indigene’s rights’ today. But the Hausa
migrants from the north constituted by far
the most numerous group in the early Jos.
Today, the ownership of Jos and claims to
the ‘indigene’ status are fiercely contested
between the native tribes and the Hausa.
Indigene certificates ensure acce s to political
representation and positions within the civil
service and beyond.
Only local governments issue these cer-
Fourteen years on, only the
heavy presence of military
and police forces has
brought about a fleeting
and fragile peace in the
state, which is constantly
punctuated with the many
killings in the villages. But
evidently, a heavy military
presence is no durable
solution
Group Politics Editor Olawale Olaleye
Email wale.olaleye@thisdaylive.com
08116759819 SMS ONLY
A scene of an attack on a Jos town
BUSINESS
FG’s Revenue Drops by 21% in
February
Nigeria’s federally-collected
revenue reduced to N.
billion in February . The
estimated federallycollected
revenue in February ...
Page 27
POLITICS
Plateau’s Peace of the Graveyard
Over the last decade, the political
crisis over ‘indigene’s rights’ and
political representation in Jos,
the capital of Plateau State,
has evolved into a protracted
communal crises that had spread
into even the remotest of the
villages in the state, with at least
, persons killed since late
... Page 16
FEATURES
Closing the Infertility Gap
In the middle of the slim street,
the engine of one of the cars had
stopped breathing. But movement
on Norman Williams Street— a
roadway famous not only for its
name in one of Nigeria’s affluent
Lagos neighbourhood, but also
for the businesses sited on it—
continues on the go. Page 24
EDITORIAL
Still On The Apapa Traffic Gridlock
The Association of Nigeria Licenced
Customs Agents (ANLCA) said
last week that the nation was losing
about N billion daily on account
of the traffic gridlock along Oshodi-
Apapa Expressway, Wharf Road,
Marine Bridge, Ijora and Orile-
Iganmu. Page 15
CITYSTRINGS
High Flyers
The time was .pm on a certain
Monday. The venue was the
hangar of International Helicopter
Flying School (IHFS), Emene,
Enugu. Under the blistering sun
was the maestro, Group Captain
Ayo Jolasinmi and his student- Edet
Okon. Page 50
stopped breathing. But movement
24 MONDAY, MAY 18, 2015 • T H I S DAY
FEATURES Features Editor Adeola Akinremi
Email adeola.akinremi@thisdaylive.com
Closing the Infertility Gap
I
n the middle of the slim street,
the engine of one of the cars had
stopped breathing. But movement on
Norman Wi liams Street— a roadway
famous not only for its name in one
of Nigeria’s affluent Lagos neighbourhood,
but also for the businesse sited on
it—continues on the go.
On Norman Wi liams, a street o f the
famed Awolowo Road, Ikoyi, Lagos, financial
advisers are tending to their clients inside
their offices when I a rive there this wintry
Tuesday afternoon. I’m on a mi sion to see an
e clesiastic whose faith in science is changing
the mood for the women in the country.
At a corner of the street, where Dr. Abayomi
Ajayi’s in vitro fertilisation (IVF) clinic sits,
there is no clear di ference in its outlook in
comparison t other offices around it, until
you’re inside the clinic. It’s because Nordica
Fertility Centre is not a natural birthplace.
“Nordica Fertility Centre is a reputable
and leading a sisted conception centre with
top-cla s medical facilities in Lagos, Asaba
and Abuja. Our core competence is infertility
management,” Ajayi says with a sense of
purpose.
Yes, it is the rule of the thump for women
age 34 or younger in otherwise perfect health
to try to conceive natura ly for one year
before a medical consult is advised.
But where a woman is 35 and unable to
achieve conception, the likes of Ajayi are
concerned. Of Course, there are numerous
fertility problems that can be treated easily,
but some make it nearly impossible to
conceive without medical a sistance, one of
many examples is blocked fa lopian tubes.
So in 1992, Ajayi, whose passion for
technology ha seen him moved ahead of
his personal cha lenges, decided to g on
a di ferent path. “The day I rea ly decided
I was going to do infertility management
was in 1992, while performing a surgery on
a patient a the University Co lege Hospital
(UCH), Ibadan – a tuber surgery (that is,
the tubes are blocked). Sometimes, when
we performed thi surgery, we had an idea
that what we were doing was nonsense – It
wasn’t working.
“The patients couldn’t get be ter. We knew
tha the tubes were very badly damaged. We
had finished the surgery on this very patient
and we a l knew the surgery was not likely
to work. Then I asked my consultant ‘what
do you think we can do for this patient’?
And he said, ‘yes in advanced places they
would have done IVF’. And I said ‘why are
we not doing IVF?’ And he laughed. That
day I decided I was going to do IVF,” he
says with a wry smile.
I ask him if he had an idea of what he
wanted to do for a career as a young man
just to understand where his real passion
lies. He replies that his plan was to be an
aeronautical engineer.
“I always wanted to be a scientist, but
the funny thing was that my first love was
aeronautical engineering. But my eyesight
has never been the best – I started using
glasse since I was 12 – and that made me
had a rethink at the age of 15. So, I visited
MediLag, and I saw some young people in
white coats, and I just decided to be a doctor,
come what may. That was how I switched
over to medicine. I’ve always been good
in what was required to do medicine, but
I didn’t rea ly want to do it initia ly. When
I was writing my JAMB in 1978 – we were
the first set – my first choice was Medicine,
second choice was Medicine, third choice was
Medicine; I was not looking back,” he says.
So after his laboratory experience in 1992,
for the next few years, Ajayi devoted himself
exclusively to his new projec to help people
he cla sified as a people a the short end of the
string. Clearly, his fondne s for technology
combined with pa sion to help ha seen him
turned the tide for many women and to the
zenith of his career as a fertility doctor. He
te ls me that much. “I like technology. In my
house, even my children, they ca l me Mr.
Technology. I buy the lates technology – I just
love it. Some I can’t even operate anymore
because I don’t have the time. The second
thing, I love standing up for people who
are su fering. There’ something in me that
stands up when I see people who are a the
short end of the string – and that’s the way
I see infertility. Those two things combines
is what got me to where I am now.”
And when I tease him about how expensive
it can be to have IVF, he reveals his mind
about value for money. He seems genuinely
outraged to hear it being transgre sed. For
instance, Ajayi calculates the cost of having
a car and the cost of having good health
upon which the usability of the car depends
di ferently and then strikes a balance.
“When you say expensive, be careful. I
can use the cost of a car and telephones to
speak to you on that one. 10 phones at the
cost of N100,000 each wi l not be up to that
child I saw on Sunday,” he says drily with
reference to a child birthed through IVF in
his clinic who curled up to him at a ma l
in Lagos on a recent Sunday.
He adds: “One thing you need to do:
make your priorities if you wan to do IVF.
Everywhere in the world, IVF is not cheap.
It’s technology. Anything that’s based on
technology cannot be cheap, until a time
comes. Do you know how many generators
I have here? The water that we use in
the laboratory, we import from the United
Kingdom. The gloves we use – which are
powder-free – we get from Germany. So, te l
me if you want people no to cut corners, how
expensive IVF can be? I shudder at people
who think we are too expensive, because
people like that open themselves to go to
the wrong places. Because, it’s po sible for
me to use ordinary gloves that have powder,
but in IVF we must use powder-free gloves
and for me to do that, I have to buy it from
Germany. So, when the only thing we start
talking about is cost, we become like some
countries I don’t want to mention where
quality has taken a dive.
“For me, what I te l my patients is that
‘you need to understand what we are doing
first’. And then you can decide for yourself.
We are not expensive, we are not cheap.
It’s just like I wan to go and buy an apple
computer or other apple products, and I
say it’s expensive.”
Ajayi is a Baptist Deacon with unusual
devotion to the Bible, but he sees no clash
between his faith and science. For him,
God has given the knowledge; ignorance is
what makes people to remain perpetua ly in
problems. “If you say God does not approve
of IVF, I say you are ignorant. I’m a Baptist.
I’m a Deacon. I’m a Sunday School teacher.
I know the gospel. I wi l say to you, when
you have appendix and pain, don’t go to
the hospital, God wi l do it. Am I saying
God cannot do it? No. But God chooses
what he wants to do; you don’t put his
hands into things.
“And when the bible says ‘secret things
belong unto the lord and the things that
are revealed belong to the son of men’ IVF
is one of those things he has let us know,
if you like you can use it, if you like don’t
use it; that’s your personal decision, don’t
bring God into them. Simple,” he says trying
to explain the relationship between science
and faith.
To be sure, he says everything depends on
God, even with IVF. “I liken what we do to
a man planting corn. In the Bible, Paul said,
“Paul sows, Apo lo waters, it’s the God that
gives increase’. If your laboratory works we l,
you know what you are doing, your sta f is
trained, by the time you have transfe red the
embryos and your procedures are contro led,
it’s only left to God. There is a God factor
in it. That’s why when people say we are
playing God, I just laugh. That’s wh you
must know the technology itself, what are
the limitations of the technology, why does
this technology have these limitations? As
of now, when we pu th embryos there, in
the proce s of what we ca led implantation,
we have no control of that,” h explains.
True, IVF is controversial, especia ly
among the people of faith and it has its
stigma too in cultural se ting. In Nigeria,
over the years women have lived painful
life of childle sne s without recourse to IVF,
but Ajayi says things are changing because
of awareness and be ter knowledge of IVF
method.
Clearly, his fondness for
technology combined with
passion to help has seen
him turned the tide for
many women and to the
zenith of his career as a
fertility doctor
Adeola Akinremi spends an afternoon with one of Nigeria’s famous fertility
doctors, Abayomi Ajayi, who has been helping women to beat the odds of infertility
through in vitro fertilisation
Dr. Ajayi
27
Quick Takes
Total Pension Funds Hit N4.7 Trillion
Ebere Nwoji
The total pension funds
cu rently a cumulated in the
country stand at N4.7 tri lion
as at December 2014, Chairman
of Premium Pension Limited,
Aliyu Dikko ha said.
This figure, a cording to him,
represents an increase of N0.6
tri lion from the N4.1 tri lion
in 2013.
The cu rent figure was
contributed by 6.5 mi lion
workers who have enro led
into the contributory Pension
scheme (CPS) as at December
2014, an increase of 0.4 million
contributors against the
previous year’s figure of 6.1
mi lion contributors.
Disclosing this a the 10th
Annual General Meeting of
his company held in Abuja,
Dikko, whose company is one
of the licensed Pension Fund
Administrators said the above
improvement shown by the
figures was an indicative of
the fac tha the teething challenges
of the pension industry
had been surmounted and the
initial skepticism trailing the
operations of the contributory
Pension Scheme drastica ly
reduced.
“The CPS is today arguably
the most su ce sful government
initiative in recen times and a
clear testimony to the e fectivene
s of private-sector-driven
rendition of service in critical
sectors”, he stated.
He noted that the year
2014 marked 10 years of the
introduction of the Contributory
Pension Scheme (CPS) in the
country, adding tha the year
also witne sed the promulgation
of the
Pension Reform Act 2014,
which repealed the Pension
Reform Act, 2004.
He noted that the new act
e fected a lot of relevant changes
into the pension scheme.
“This new legal instrument
ECOBANK PRE-AGM COCKTAIL
L-R: Managing Director, Ecobank Nigeria, Mr. Jibril Aku, Chairman Ecobank Foundation,Chief Philip Asiodu; Chairman, Ecobank
Transnational Incorporated (ETI), Chairman, Ecobank Nigeria, Mr. Emmanuel Ikazoboh; Chairman, Elizade Nigeria Limited, Chief
Michael Ade Ojo; and Dr. Sonny Kuku during the ETI Pre-Annual General Meeting cocktail in Lagos .recently.
AKINWUNM IBRAHIM
Ethiopian Airlines Extends Service to Sao Paulo
Ethiopian Airlines has announced that it has started serving
Sao Paulo, a city in the fifth continent in its route network, with
a non-stop flight from Addis Ababa since April 25, 2015.
Ethiopian tri-weekly flights to Brazil are operated using the
ultra-modern Boeing 787 from the major hub in Addis Ababa. The
start of this non-stop service to Sao Paulo reduces transit stops
for customers traveling from the rest of Ethiopian destinations.
Brazil is the largest national economy in South America and
the eight in the world. Brazil has a diversified economy including
agriculture, industry, and a wide range of services such as
ecotourism, leisure and cultural tourism.
Sao Paulo is the biggest city in the country and has significant
cultural, economic and political influence both nationa ly and
internationa ly. The city is home to several important monuments,
parks and museums.
“We are very pleased to be able to enhance the quality of our
product and improve our competitive edge. The non-stop flight
secures increased connectivity and reduced transit time for our
customers. The new nonstop Addis Ababa – Sao Paulo flights
wi l provide efficient connections for customers from almost a l
of our destinations in the other four continents we serve. “Said
CEOof the airline, Tewolde Gebremariam.
Passengers to and from Sao Paulo wi l enjoy maximum connectivity
to destinations in Ethiopian world-wide route network
in Africa, Middle East, Asia and Europe. The new non-stop flight
wi l enhance travel on the China – Africa – Brazil trade lane.
LEAP Africa Focuses on Risk Management
Managing Director/CEO, Nestle Nigeria, Mr. Dharnesh Gordhon,
Managing Director, Lafarge Cement Wapco Nigeria, Mrs. Peju
Adebayo, Managing Director, Custodian And A lied Insurance
Plc, Mr. Wole Oshin, and Founder, Managing Director, JNC International
Nigeria Limited, Mrs. Clare Omatseye wi lead high-level
discussions at LEAP Africa’s chief executive officers forum for
sma l and medium enterprise (SMEs) on June 9, 2015 in Lagos.
LEAP Africa, a leadership development organisation and its
partners wi l converge 800 SMEs at the 10th edition of the CEOs
Forum under the theme Staying Ahead: Maximizing Profit and
Mitigating Risks. The speakers wi l deliberate on sectoral and
industrial risks, the need for SMEs to concentrate their efforts
in evaluating and managing their risk exposures for long term
sustainability.
According to LEAP Africa’s Executive Director, Iyadunni
Olubode, “SMEs should be proactive in managing risk instead
of being reactive. There is a common misconception that only
large companies need to manage risks, but this year’s CEOs Forum
seeks to address that and offer practical advice for entrepreneurs
on protecting their profits through risk mitigation strategies”.
The forum wi l provide cutting-edge solutions and best practices
in corporations to enable SMEs deal with risks in present political
and economic realities in Nigeria.
Three Crowns Rewards Patrons
In commemoration of the 2015 Mother’s Day celebration, Three
Crowns Milk, a brand from the stables of FrieslandCampinaWAMCO
has rewarded its esteemed consumers in the Mother’s Day
Activation campaign.
The grand prize winner’ Mrs. Olamide Olaleye, who emerged
as the ‘Mum of the Year’ won an a l-expense paid trip to Dubai
alongside a companion of her choice while 29 other mothers
were also rewarded with N50,000 shopping voucher.
The Three Crowns Milk Mother’s Day Activation is a Facebook
based campaign in which consumers are expected to write on the
Three Crown’s Facebook wa l why their mum is the best mum in
the world. These posts are judged on a daily basis starting from
April 28 to May 7 (10 days) and three were picked daily while the
overa l winner was adjudged on the last day of the campaign.
A cording to the Marketing Director, FrieslandCampinaWAMCO,
Mr. Tarang Gupta, the campaign is in line with the brand’s new
theme campaign which is deeply rooted in recognising the key
role of mothers in the family.
guiding the pension industry
has among other provisions
graciously increased the total
minimum contributions from
15per cen to 18per cent of the
employ e’s emolument, provide
basis for extending the scheme
to organisations having as le s
as three employees, a low RSA
holders to utilise part of their
balance as equity contributions
for mortgage facilities and
expanded the investment space
by providing legal framework
for investment abroad.
Describing the new law as
a great opportunity waiting
to be tapped by the industry
Continued on page 28
FG’s Revenue Drops by 21% in
February
Obinna Chima
Nigeria’s federa ly-co lected
revenue reduced to N560.84
bi lion in February 2015.
The estimated federa lyco
lected revenue in February
2015, a cording to the Central
Bank of Nigeria’s (CBN’s)
economic report for February
obtained a the weekend, was
lower than the receipt in the
preceding month by 21 per cent.
Similarly, the estimated amount
of revenue earned in February
was lower than the provisional
2014 monthly budget estimate
by 38.1 per cent.
The decline in estimated
federa ly-co lected revenue
(gro s) relative to the monthly
budget estimate was a tributated
largely to the shortfa l in receipts
from oil revenue during the
review month.
At N201.12 bi lion or 35.9
per cent of the total revenue,
gro s non-oil receipts was below
the provisional 2014 monthly
budget estimate by 35.0 per
cent. It was also below the
receipts in the preceding month
by 10.4 per cent. The decline
in non-oil revenue relative to
the provisional monthly budget
estimate reflected, largely, the
fa l in receipts from National
Information Technology Development
Fund (NITDEF) and
FG Independent Revenue,
a cording to the report.
Of the gro s federa lyco
lected revenue in a net sum
of N408.37 bi lion (excluding
deductions and transfers) was
transfe red to the federation
a count for distribution among
the three tiers of government
and the 13 per cent derivation
fund.
The federal government was
said to have received N194.35
bi lion, while the state and local
governments received N98.58
bi lion and N76.00 bi lion,
respectively. The balance of
N39.45 bi lion was distributed
to the oilproducing states as
13 per cent derivation fund.
From the value added tax
(VAT) pool a count, the federal
government received N9.21
bi lion, while the state and
local governments received
N30.69 bi lion and N21.48
bi lion, respectively.
“Overa l, the total a location
to the thr e tiers of government
from the federation a count and
VAT pool a count in the review
month amounted to N489.85
bi lion, compared with N568.79
bi lion in the preceding month,”
it added.
During the month of February
2015, the predominant
agricultural activity acro s
the country was preparation
of land for early planting.
Other activities in the southern
and northern states included:
harvesting of tree crops;
i rigation-fed vegetable and
BUSINESSWORLD
Continued on page 28
R A T E S A S A T M A Y 1 7 , 2 0 1 5
NIBOR NITTY EXCHANGE RATE
OVERNIGHT 9.4583 3-MONTH 13.9314 1-MONTH 10.6657 6-MONTH 12.96 1 N197.00 US DOLLAR*
1-MONTH 12.8783 6-MONTH 15.1624 2-MONTH 12.5874 9-MONTH 13.3938 *AS AT LAST FRIDAY
3-MONTH 12.641 12-MONTH 13.3089
“The business of
banking has been
modernised in Nigeria
and is not too far from
what obtains in the
more advanced world”
MD, Wema Bank,
Segun Oloketuyi
ECONOMY
PENSION
T H I S D AY • MONDAY, MAY 18, 2015
The Association of Nigeria Licenced
last week that the nation was losing
of the traffic gridlock along Oshodi-
15
T H I S DAY • MONDAY, MAY 18, 2 015
EDITORIAL
STILL ON THE APAPA TRAFFIC GRIDLOCK
T
he Association of Nigeria Licenced
Customs Agents (ANLCA) said
last week that the nation was losing
about N5 billion daily on account
of the traffic gridlock along Oshodi-
Apapa Expressway, Wharf Road,
Marine Bridge, Ijora and Orile-
Iganmu. Ca ling on the relevant
authorities to act over the nuisance being constituted
by trucks and tankers in the town which hosts the
nation’s major sea ports, ANLCA warned that it
might soon down tools if nothing is done to redress
the ugly situation. We align ourselves with the ca l.
On a normal working day, it takes an average of
five hours to meander through the maze of tankers
and trailers that have turned most of the roads in
Apapa into parking lots. Besides, the horror o fered
by the craters and potholes is worse during raining
season when navigating the traffic- prone zones by
motorists becomes very difficult. What this implies
is that the Apapa-Oshodi Express-road through the
Tin Can Ports is most often literally shut down. The
same is true for the Seven Up/Apapa Bridge, which
is another parking lot for in-coming trailers and
tankers.
Hoodlums have also taken advantage of this
state of confusion
to unleash mayhem
on road users who
severa ly have had to
abandon their cars to
run for safety. Many
have lost their lives
and property worth
millions to these men
of the underworld.
Yet, as the days
unfold, the Apapa
Business District gets
worse for what it
o fers both residents and businesses. It is even more
saddening to note that some of these problems are
within human control.
Virtua ly every company located in Apapa is
now being short-changed by the excesses and sharp
practices of these tanker and trailer drivers as we l as
their owners. It is either that one tanker is struggling
to avoid the queue and therefore drives from one
end of the road down to the gate to beat those on the
queue, or that another trailer has successfu ly beaten
the others and is being given an executive clearance
to load or offload. Of course at the other end are the
owners of the tank farms and depots who do not
a low these trucks into their parking lots. A l these
help to create an atmosphere of chaos which makes
life very difficult for Apapa residents and visitors.
T
he Lagos State Government is at the vanguard
of insti ling discipline but these truck
drivers are ever unwilling to comply with
laid down rules on the use of the highway.
On several occasions, these tanker drivers had gone
on strike and with that create scarcity of petroleum
products thus bringing enormous su fering on the
populace.
In more civilised climes, what is happening in
Apapa is anathema. This armada of trailers and
petroleum tankers wi l be considered primitive.
Years of toeing the path of impropriety and poor
infrastructure development and maintenance in the
energy and other sectors are having their crushing
to l on other forms of business. It is sad, if not tragic
that Apapa, which ordinarily should be the heartbeat
for corporate Nigeria, is a neglected business district
whose infrastructure especia ly roads are not only
decayed but ignored by the relevant authorities.
Until the federal government finds it appropriate
to build refineries close to the points of consumption,
revive our rail systems and create a more orderly
and cost e fective means of lifting bulk cargo and
petroleum products, Apapa will continue to be a
nightmare for the residents and businesses operating
within the town. But a measure of sanity can still be
restored today. We therefore call on the Lagos State
government not to relent in fighting this blackmail
by tanker drivers as well as owners of petroleum
and gas tank farms, who have scant regard for other
businesses in Apapa.
IT IS SAD THAT APAPA,
WHICH ORDINARILY
SHOULD BE THE
HEARTBEAT FOR
CORPORATE NIGERIA, IS
A NEGLECTED BUSINESS
DISTRICT WHOSE
INFRASTRUCTURE,
ESPECIALLY ROADS,
ARE NOT ONLY DECAYED
BUT IGNORED BY THE
RELEVANT AUTHORITIES
There are perils for the economy in leaving Apapa the way it is. Something must be done
TO OUR READERS
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Letters to the Editor
REFORMING THE UNREFORMABLE: THE UNFINISHED BUSINESS
F
ew years ago, Dr Ngozi Okonjo-Iweala wrote a book
by thi same title. I had the good fortune of reading
this book few days ago. What resulted from my
reading this book was a light-bulb moment which
I wi l now attempt to document with the hope that
people like me, who want nothing more than to see
this nation set on the right path, wi l get some clarity on certain
ma ters currently fi ling our consciousne s as a result of the
news hi ting our airwaves and digital space.
Contrary to what we have been told and the a cusations that
have been hurled a the finance minister in the last year or so,
I have found that from as far back as 2003, Dr Okonjo-Iweala
has been ca ling fo reforms of parastatals, Ministries, Departments
and Agencies (MDAs) and other government-owned
entities. One of the things she quickly observed when she
became finance minister under the Olusegun Obasanjo
administration was that entities like Customs, Nigerian
National Petroleum Corporation (NNPC) and a few others were
structured by the military to be opaque and to enable deliberate
siphoning of funds. And these nefarious activities had gone
on for so long that she knew fighting that level of co ruption
would be an uphi l task; but she did not relent nor ha she
given up even ti l now.
It is amazing – and even offensive – that i took a major
scandal such as the allegedly mi sing $20 bi lion from the
coffers of NNPC as we l as the PricewaterCoopers (PwC) audit
repor to open the eyes of many to the same issue that Madam
Iweala has been singing about for years. Of course, NN

8
NEWS
MONDAY MAY 18, 2015 • THISDAY
News Editor Davidson Iriekpen
Email davidson.iriekpen@thisdaylive.com
PDP Rules out Change of Name
Says its ideology, national outlook intact Labour Party denies merger talks with party
Chuks Okocha and Onyebuchi
Ezigbo Ezigbo in Abuja
The Peoples Democratic Party
(PDP) has stated that despite
losing control of the federal
government and some of
its states in the last general
election, it is still the truly
national political party with
strength and spread enough
to regain pre-eminence.
The party therefore stated
that it was not contemplating
a change of identity, noting
that the unassailable vision of
its founding fathers remains
timeless in building a Nigeria
of the collective wish and
aspirations of all citizens.
A statement by the
National Publicity Secretary
of the PDP, Olisa Metuh,
yesterday, said having been
the guardian of Nigerian
democracy for 16 years
during which it nurtured
and blossomed democratic
governance as well as etched
its name in the pantheon of
good governance, the PDP
will not in the circumstance
of ephemeral loss of power
change its identity or its
time-honoured characteristic
values.
The party said though it
is resolutely committed to its
present structures, it would
not close its doors to other
political parties wishing to be
assimilated into its fold as the
best vehicle for the fulfilment
of political aspirations of all
Nigerians regardless of tribe
and religion.
“We have a name, tradition
and values. 16 fruitful years
as the guardian of Nigerian
democracy cannot be nullified
by the reason of temporary
setback. We shall rise beyond
all and regain our rhythm.
Our colour remains green,
white and red and power
still belongs to the people.
And to assert that we are
proud of the successes of our
successive leaders in taking
Nigeria to its present height is
an understatement, which the
passage of the next four years
under the All Progressives
Congress (APC) will certainly
prove,” the party said.
It added that the fact
that the PDP is going into
opposition would not mitigate
its ability as the flagship of
democracy, maintaining that
it will soar higher in proving
credible alternative as a
constructive opposition, far
removed from the wrathful
destruction that the APC lived
thus far.
“We have no doubt lifted
the banner of democracy
very high and only wish
that the APC will move
beyond excuses when it
takes over in a few days
time to reconcile mouthful
promises with the reality of
fulfilment. We have not only
laid a solid foundation, we
have built to a height that
no denial can wish away.
“We therefore call
on all our members to
ensure that they are not
in any way distracted but
remain focused as the unity,
cohesion and regenerative
capacity of the PDP is very
much intact, election loss
notwithstanding.”
Meanwhile, the Labour
Party (LP) yesterday said
there was no move for an
alliance or merger with
the PDP or any other
party, describing any such
insinuation as the handiwork
of some mischievous people.
There were reports late
last week of an impending
merger of the PDP with the
LP, All Progressives Grand
Alliance (APGA), Hope Party,
and KOWA Party to form a
formidable mega opposition
party to challenge the APC.
It stated that PDP members
including Governors Sule
Lamido, Godswill Akpabio,
Babangida Aliyu and a few
others have been pushing
for an alliance with other
parties.
According to the report,
other PDP chieftains such
as former defence chief,
Theophilus Danjuma, and
former finance minister,
Adamu Ciroma, support the
move, and have planned for
a special convention after
the handover on May 29
where a formal merger
process would start.
The report also disclosed
that the merger option was
being considered because the
Buhari to Drop ‘General’ from
His Name from May 29
From May 29, the presidentelect,
Muhammadu Buhari,
will drop ‘General’ as his title,
while his deputy seeks to be
described with his academic
title of professor.
Briefing journalists in
Lagos yesterday, the head
of the Directorate of Media
and Publicity of Buhari’s
campaign organisation,
Garba Shehu, said Buhari
would simply be addressed as
Muhammadu Buhari, President
and Commander-in-Chief of the
Armed Forces of the Federal
Republic of Nigeria.
Shehu said Buhari would
not like to be addressed as
Mr, Alhaji or Mallam either
but simply as Muhammadu
Buhari.
“From May 29, 2015, the
president-elect and vicepresident-elect
are to be
respectively known and
addressed as Muhammadu
Buhari, President,
Commander-in-Chief of
the Armed Forces Federal
Republic of Nigeria and Prof.
Yemi Osinbajo, SAN, Vice
President, Federal Republic
of Nigeria.”
Buhari may have
followed the foot steps of
former President Olusegun
Obasanjo who upon his
assumption of office in 1999
as a democratically-elected
president, jettisioned the prefix
of ‘General’ for Chief.
word “PDP” had become
toxic and un-sellable to
Nigerians and as such, it
will be counterproductive
to continue to use it as a
viable opposition party.
However, while reacting
to the reports, LP said it
was highly irresponsible for
anyone to drag its esteemed
name into rumours of an
impending merger
In a statement issued by
the National Secretary of the
LP, Kayode Ajulo, the party
debunked the report as “false
and diversionary,” stating
that at no time whatsoever
had the leadership of the
party entered into merger
talks with any other party.
“The rumoured talks of
a merger between the LP
and other parties such as
the PDP is a figment of the
fevered imagination of some
mischievous peoples. Such
an issue has not been raised
within the party exco at all,
and neither has anyone or
any party has any agreement
on the issue with us.
“It is highly irresponsible
for anyone to drag the
esteemed name of the Labour
Party into rumours of an
impending merger. If at all
anyone has entered into any
such talks, he is doing it
strictly on his own, not in
the name of the LP,” the
National Secretary said.
Ajulo affirmed that
political power or relevance
for its own sake is not the
goal of the LP, adding that
the party was committed
only to the cause of the
Nigerian workers and the
masses in general.
“Our goal is not just to
seek power or relevance; we
are committed to alleviating
the sufferings of all Nigerians.
We are therefore prepared to
work with anyone who will
put the Nigerian people first,
and seek to bring succour
to the homes of Nigerians
everywhere across the nation.
“We will cooperate with
any government, group and
individual that shows with
its policies and actions that
it truly seeks to bring relief
to Nigerians, that is also our
desire, so it is only reasonable
to cooperate with such groups,
if any,” Ajulo said.
He described such a
proposition as impossible,
“that cannot be. LP is
a discipline party, It is
impossible for anybody to
consider as serious, any talks
which exclude the National
Secretary of the party as well
as the National Working
Committee (NWC) of the
party, so I can assure you
that there were no such talks.”
Ajulo, who said he just
returned into the country
after a trip to Britain as an
Accredited International
Observer to monitor the just
concluded general elections
of May 7 in the United
Kingdom, also stated that
he had remained in close
communications with the
party’s national chairman and
other national hierarchy all
through his trip, and that no
mention had been made of
any merger talks with anyone.
“Maybe the advocates
of such merger are just
expressing their wishful
thinking. It is my opinion
that this allegation is a mere
rumour and nothing but a
figment of their imagination,”
he said.
MOURNING A BELOVED UNCLE
L-R: Delta State Governor, Dr. Emmanuel Uduaghan; his wife; Roli; and Manager, Nigerian National Petroleum Corporation (NNPC), Warri,
Mr. Omaghomi Victor, at the burial of Pa. Samuel Uduaghan, at Abigborodo Warri North Local Government Area... weekend
Seplat Reels out Benefits of Tax Incentive
to Nigerian Economy
Chika Amanze-Nwachuku
Seplat Petroleum Development
Company has said the pioneer
tax incentive granted it made
it possible for the company to
boost oil and gas production,
provide employment
opportunities and help grow
the Nigerian economy.
Responding to a recent
allegation that it had benefitted
from improper tax waivers in
relation to its grant of pioneer
tax incentive by the federal
government, Chief Executive
Officer of the company, Austin
Avuru, said in a statement
that in 2013, the company
applied for pioneer status
incentive through the Nigerian
Investment Promotion Council
(NIPC) as the government body
responsible for investment
promotion.
Avuru said the company
followed the prescribed
process for application and
provided all the information
and documentation required
in support of the application.
The incentive, he noted
was part of an industry wide
exercise and Seplat was one out
of 15 oil and gas companies
that were granted the pioneer
tax incentive.
According to Avuru, Seplat
had fully re-invested the tax
savings from the grant and
has delivered verifiable results
thereto.
He said: “Seplat believes that
it is an excellent example of the
whole purpose of establishing
the pioneer incentive scheme.
The Company has fully reinvested
the tax savings from
the grant and has delivered
verifiable results thereto.
“Seplat is now a key supplier
of gas to the domestic market,
which is the direct outcome of
the pioneer incentive granted to
SEPLAT and aims to continue
to contribute meaningfully to
the growth and development
of the Nigerian economy.”
Reeling out benefits
from the tax holiday to the
Nigerian economy, Avuru
said: “The grant of pioneer
status has made it possible
for Seplat to boost oil and
gas production, provide
employment opportunities,
impact on their communities
and help grow the Nigerian
economy.”
He added: “Gas production
rose from an average of
90mmscfd to a current level
of around 200 MMscfd with
a target of 300 MMscfd by
the end of 2015. This increase
has been driven by an over
US$300 million investment in
gas development over the tax
holiday period.
Oil production has grown
from a daily average of 14,000
barrels in 2010 to the current
daily rate of over 70,000 barrels.
The statement also added that its
royalty payments have gone up
from an average of $40 million
per annum in 2010 to US$147
million in 2014.”
Furthermore he said the
company had continued to fund
the NPDC/SEPLAT JV to drive
these outstanding growths in
oil and gas production despite
being owed substantial sums in
unpaid cash-calls from Nigerian
Petroleum Development
Company. (NPDC).
The statement added that the
tax incentive has also helped
Seplat in creating over 300 new
jobs and delivering several
community development
projects in their operating
areas, adding “the multiplier
effect of our over US$700 million
in annual expenditure through
Nigerian contractors adds over
1,000 additional jobs.”

MONDAY MAY 18, 2015 • THISDAY 9
NEWS
Power: Nigeria’s Bulk Trader Concludes
PPA Negotiations on 10 NIPP Gencos
Pioneering PPAs on coal, solar power generation ready soon
Chineme Okafor in Abuja
Nigeria’s bulk electricity
procuring entity, the Nigerian
Bulk Electricity Trading
Company Plc (NBET) at the
weekend disclosed that it had
concluded all negotiations
required for the successful
signing of Power Purchase
Agreements (PPAs) with the
10 thermal generation companies
of the National Integrated Power
Projects (NIPP).
Damilola Oyedele in Abuja
The Trade Union Congress
(TUC) has urged the
incoming administration of
Gen. Muhammadu Buhari to
drastically reduce the high cost
of governance in Nigeria.
It particularly harped on the
need to cut down on political
appointments, adding that
the current situation where
lawmakers fix their own
salaries and allowances must be
discouraged and discontinued.
The congress also frowned
at the way and manner public
office holders pay themselves
severance benefits running
into billions of naira without
addressing the legitimate
concerns of the workers on the
issue of pension and gratuity.
Rising from a meeting
of its National Executive
Council (NEC), the TUC in
a communique signed by its
President, Bobboi Kaigama
and, Secretary General, Musa
Lawal called for a review of
the salaries and allowances of
workers.
NBET by this development
has indicated its willingness
to enter into a bulk power
purchasing agreement with
the 10 electricity generation
companies which were built by
the Niger Delta Power Holding
Company Limited (NDPHC)
under the NIPP scheme, but
now slated for privatisation.
When consummated, the 10
NIPP plants will be able to sell
electricity generated by them
to NBET for onward resale to
APC Disowns Fake
Ministerial List in Circulation
Onyebuchi Ezigbo in Abuja
The All Progressives Congress
(APC) has described as a fiction,
the ministerial lists currently being
circulated, especially on the social
media.
The party warned against
statements attributing certain
actions to the president-elect,
General Muhammadu Buhari,
urging members of the public to
disregard these lists and wait for
the authentic list which would
be communicated through the
appropriate channels.
It appealed to the media to
clarify with the authentic officials
of the party and the Buhari
Campaign Organisation any issue
having to do with the actions
of the president-elect in order
to avoid presenting falsehood
as facts.
In a statement issued yesterday
by its National Publicity Secretary,
Alhaji Lai Mohammed, the
party said the appeal became
necessary following recent media
reports on the actions which the
president-elect would purportedly
embark upon once he is sworn
into office.
‘’Various people have been
quoted in the media on what
the president-elect will do or will
not do once he assumes office.
The truth is that these people do
not speak for the presidentelect,
hence the need for the
media to clarify such issues
with the Chairman of the
party, its National Publicity
Secretary or the spokesman
of the Buhari Campaign
Organisation. These officials
are always available to clarify
issues,’’ it said.
The APC said the ongoing
transition was a delicate
period that fifth columnists
could capitalise on to cause
disaffection or overheat the polity,
hence the need for all stakeholders
to be extra-cautious and to put
the national interest above all
other interests.
‘’Nigerians should disregard
these lists and await the authentic
list which will be communicated
through the appropriate channels
at the right time,’’ it said.
Reduce High Cost of
Governance, TUC Urges
Buhari
“It noted with serious
concern that the minimum wage
of N18, 000 which is less than
$90 has not been implemented
in some states. In particular, the
congress condemns all the state
governments owing workers
salaries, as it is unhealthy for
the nation,” it read.
“The congress-in-session calls
on the incoming government
to restore payment of gratuity
along with pension,” TUC
added.
It also lamented the sustained
fuel scarcity, which has brought
untold hardship to Nigerians,
with attendant negative impact
on all components of national
economy.
TUC appealed to the
government to immediately
call stakeholders meeting to
address the controversies with
the marketers with a view to
urgently resolving the demand
and supply deficit. “...while
concrete steps should be taken on
the issue of local refining to put a
stop to the issue of importation of
petroleum products and payment
of subsidy.”
electricity distribution companies
in the country.
The PPA will confer on
both parties service rights and
obligations that include timely
payments for and power signed
for.
Also, the bulk trader stated
at the last Annual General
Meeting (AGM) of its board
in Abuja, that it is about to
close out negotiations on the
multi-layered Zuma Energy coal
power project as well as four
solar power projects which it
will soon send to the industry
regulator, the Nigerian Electricity
Regulatory Commission (NERC)
for vetting and approval.
A power purchase agreement
represents the vital contract
for any independent power
generation project, especially
in emerging electricity markets
like Nigeria’s, to consider in
proceeding with such projects.
It governs the sale and
purchase of power between a
producer and an off-taker or
buyer and helps the promoter
draw down on investment funds
for its project.
The Managing Director of
NBET, Rumundaka Wonodi,
told journalists shortly after
the AGM which was chaired
by the board chairperson and
Minister of Finance, Dr. Ngozi
Okonjo-Iweala, that the company
had gone on with negotiations
on these PPAs, especially for
what they represent to the sector.
He said: “We are working on
so many PPAs, we are just about
to close out the PPA on Zuma
coal power and send it off to
the regulator for approval. We
have about four solar PPAs that
we have just gone through in
the last round and those ones
could be initial depending on
how they react to that version.
“We have a couple of gas-fired
plant; Century, Omar Power,
Proton Energy, Exxon and quite
a couple of projects that are close
to initialing and close out.
“The bulk trader has
also PPAs with River State
Independent Power Plant and
has concluded the discussions
for the NIPP PPAs,” Wonodi
added.
He further said: “Currently,
NBET has fully negotiated
PPAs for four other gas IPPs
and now has PPA templates
for coal and solar powered
generation projects. These
PPAs need to undergo
regulatory review prior to
their execution.”
On what this means to
the sector, Wonodi explained
that when fully executed and
the projects are on stream, it
helps the bulk trader procure
more capacity in the pool of
REDAN Wants FG to Redeem N24.5bn
Guarantee on Housing Fund
James Emejo in Abujai
President, Real Estate Developers
Association of Nigeria (REDAN),
Mr. Ugo Chime, has challenged
the federal government to redeem
its guarantee on the Series 3 Bond
which is expected to mature on
May 24, 2015 with obligation
to pay N24.564 billion to Note
holders.
He said the buck between
government and the Federal
Mortgage Bank of Nigeria
(FMBN) at this stage would
not augur well for the country.
Speaking with THISDAY in
Abuja, he said given that FGN
Guarantee for the Mortgage-
Backed Bond is irrevocable and
un-conditional failure to redeem
it would cause the Nigerian bond
market and FGN damage to their
reputation.
Former President Olusegun
Obasanjo had initiated the muchcelebrated
federal government’s
N100billion mortgage-backed
bond which aimed to ensure
success of the sale of federal
government’s non-essential
residential houses in the Federal
Capital Territory to public servants
under the monetization policy
of that administration.
The five-year bond was
initiated in 2007 to ensure success
of the sale of federal government’s
non-essential residential houses
in the Federal Capital Territory
(FCT) to public servants.
FMBN and its issuing house
sold the first tranche of N26 billion
in 2007.
Impressed with the outcome,
Messrs FMBN SPV Issuer Limited
in 2012 issued another N6billion
notes by way of private placement
to qualified institutional investors.
The Series 2 Fixed Rate Notes
issued under the N100billion
Residential Mortgage Backed
Securities Programme which
is sponsored by FMBN, is 100
percent guaranteed by the federal
government.
An application will be made
to list the Series 2 Notes on the
Nigerian Stock Exchange.
However, the Series 3 Bond
will be maturing on May 24
with obligation on the federal
government to pay a sum
N24.564billion to note holders.
It’s failure to so do at maturity
will lead to the call of federal
goverment guarantee that backed
the transaction, an action which
could spell doom for the country
in local and offshore financial
circles.
Already, Coordinating Minister
for the Economy and Minister of
Finance, Dr. Ngozi Okonjo-Iweala
has reportedly directed FMBN
to sell off its assets to redeem
the guarantee.
But Chime argued that the
government should get its acts
together by ensuring it stands
up to this challenge and also go
further to inject more funds into
the FMBN and even restructure
it if deemed fit.
electricity available to it to sell
to distribution companies it has
signed vesting contracts with.
Wonodi in his assessment of
the current market situation with
regards to commencement of the
Transitional Electricity Market
(TEM), said: “The transitional
electricity market has begun
and that means that we are
beginning to receive payments
from distribution companies
from power supplied and
we are making payments
to the generation companies.
Trading has fully begun.
“We believe compliance
should be full for the month
of March, the supplementary
order came late and by
the time it came, so many
distribution companies were not
clear on that and we understand
that three made payments to
the market operator and bulk
trader.”
THANKING GOD
Edo State Governor, Adams Oshiomhole; and his wife, Lara, carrying bread and wine for the Holy Communion at a thanksgiving Mass held
at the Immaculate Conception Cathedral, Auchi...yesterday
He said: “On this bond
issue, we need to look at some
aspects. Where is the money?
Was it injected into the NHF?
This money should have been
used as seed fund to assist the
Federal Mortgage Bank of Nigeria
(FMBN) to make houses more
affordable.
“I don’t think that at a time
when the government should
be thinking of beefing up the
capital base of FMBN it should
be asking the bank to sell off its
assets. It is gross dereliction of
duty to the masses. This entire
controversy is a distraction at
this moment.
He said: “The federal
government should pay the
money that is due in a few days
as this date has not come to them
as a surprise. There are no assets
for the FMBN to sell off to be
able to meet the deadline, even
if there were how many days
will it take to do so and meet
up with the deadline?”

10 MONDAY MAY 18, 2015 • THISDAY
NEWS
Azikiwe’s Widow Laments Breakdown of Security,
Says Kidnappers on Rampage in Enugu
Christopher Isiguzo in Enugu
The widow of the first president
of the country, Dr. Nnamdi
Azikiwe, Prof. Uche Azikiwe,
yesterday lamented the increasing
state of insecurity in Enugu
which culminated in high profile
kidnapping cases within the past
one week.
She therefore asked the relevant
security agencies to up their game.
Only recently, kidnappers and
armed robbers who had laid siege
at various parts of Enugu State
abducted the father of the awardwinning
author, Chimamanda
Adichie, the immediate former
Head of Service of Enugu State,
Nze Dennis Eze, a legal practioner,
Mr. Charles Ugwu, among others.
Beside these victims whose cases
Aiteo Clarifies Status of
its Contract with NNPC
Ejiofor Alike
Indigenous oil and gas company,
Aiteo has clarified the status of
its business with the Nigerian
National Petroleum Corporation
(NNPC), and denied the
allegation that it was fronting
for top officials of the present
administration.
In a statement by its
Communications Consultant,
Ebelo Goodluck, the company
stated that it only started
participating in the offshore
processing agreement (OPA)
with the NNPC three months
ago.
“This was after the company
was selected based on its
capacity and ability to perform.
The terms of this contract
are clear, and Aiteo has not
breached any obligation in the
OPA. Indeed, just last Friday,
Aiteo had a reconciliation
meeting with the NNPC,
and the it was acknowledged
that Aiteo is up to date in its
contractual performance,” said
the statement.
Aiteo further stated that OPA
is a more cost-effective option
to the previous regime of crude
swaps that the country relied on
for petroleum product suppliers.
According to the statement,
Aiteo is a legitimate business,
that has recently grown its
workforce from 400 to 2000 to
enable it effectively manage Oil
Mining Lease (OML) 29, adding
that it expects to substantially
recruit above this number very
soon.
To finance our asset acquisition
and operations, the company
said it had raised facilities from
a consortium of banks, including
Citibank, First Bank, Zenith and
Union Bank.
“These creditors have duly
subjected Aiteo to corporate
governance and due diligence
tests. Detail Commercial Solicitors
of England conducted the due
diligence on Aiteo, while the
legal agreements were prepared
by the prestigious firm of Aluko
and Oyebode. The allegations of
fronting for anyone are baseless,”
the statement added.
According to the statement,
any fair-minded reader will note
that the Energy Compass report
which was reproduced in the
media is slanted to taint Aiteo
with odium in a moment of
transition.
“Aiteo will be taking necessary
legal action to contest this
unnecessary campaign of
calumny against a legitimate
business,” the company said.
are still fresh, recently, a foreign-based
business mogul and philanthropist,
Mr. Okonkwo Onu, who hails from
Ogbodu village in Igbo-Eze North
Local Governent Area of the state,
as well as the manager of a guest
house at Aji community also in
the same council area had been
kidnapped by hoodlums who
sought ransoms.
Azikiwe, who spoke at the
weekend on the state of insecurity
in the country, expressed concerns
that the father of the renowned
literary writer , Prof. Adichie,
who is a renowned professor of
statistics would be so harassed and
abducted in his country where
he is supposed to enjoy his life
in retirement, calling for a total
moral rearmament in Nigeria.
Also from Igbo-Eze North local
government area of the state came
another sad news that armed
robbers hacked a widow to death
before carting away proceeds from
the sale of parcel of land meant
for the funeral ceremony of her
late husband.
An associate of Prof. Adichie
who also resides at Nsukka but
who did not want his name
mentioned, yesterday said: “We
heard the hoodlums went for
him because of his daughter but
I don’t know how much they
would have paid as ransom.”
In the case of the former
Head of Service in the state,
Nze Eze, we gathered that he
was kidnapped along the now
very vulnerable new Opi Nsukka-
Ugwuogo Nike- Enugu Road
constructed by the administration
of Governor Sullivan Chime.
He regained his freedom a few
days ago and had to go down
to his Ugbaike Community
to reunite with his father and
other family members who had
been apprehensive all through
his period in captivity in the
past week.
One of the victims and a
legal practitioner who hails from
Olido Community, Mr. Ugwu,
aforementioned, spoke to THISDAY
in a telephone chat yesterday and
confirmed that he was abducted
penultimate Saturday and regained
his freedom last Friday.
According to him, “As I made to
drive into my residence on Ibagwa
Road, Nsukka that Saturday, some
gunmen accosted me and took me
away. I only returned on Friday
and I am somewhere now where
I am having some rest.
“I thank God there was no
bodily harm done to me, only
the psychological but it was a
harrowing experience and very
sad commentary on the journey
of this nation so far,” he lamented,
but did not disclose how much
ransom was paid for his release.
However, in the case of the
kidnappers who held the manager
of a guest house, they were not as
lucky since their victim escaped
from the booth of their car and
some of them, including their
herbalist have been arrested by
operatives of the Special Anti-
Robbery Squad(SARS) of the
Enugu State Police Command.
Police Public Relations Officer
for Enugu State Police Command
of the Nigerian Police Force, Mr.
Ebere Amaraizu, confirmed some
of the kidnap cases and said the
command was doing much at
the moment to contain the tide
but would not divulge details
of the on-going operations in
response to the development.
UNIVERSITY EDUCATION MADE EASY
L-R: Executive Secretary, Tertiary Education Trust Fund (TetFund), Prof. Suleiman Bogoro; Justice Yelim Suleiman of the Bauchi State
Judiciary; former Head of State, Gen. Yakubu Gowon (rtd); and Vice-Chancellor, National Open University of Nigeria (NOUN), Prof. Vincent
Tenebe, at the inauguration of NOUN in Bogoro Local Government Area of Bauchi State...weeekend
NAN
Group Rejects Abortion Option
for Pregnant Chibok Girls
The Foundation for African
Heritage (FACH), a coalition of
non-governmental organisations
(NGOs) based in Lagos has
described as unconscionable,
inhuman and scandalous
the suggestion by the United
Nations Population Funds
(UNFPA) and some foreign
NGOs that the rescued pregnant
Chibok girls should be sent to
the abortion clinics to have their
babies aborted or that abortion
be legalised in Nigeria, so that
the pregnant Chibok girls can
abort their babies.
Making a cash donation
on behalf of the group for the
rehabilitation of the girls at the
office of the National Emergency
Management Agency (NEMA)
in Abuja recently, Mr. Sonnie
Ekwowusi stated that what the
girls urgently needed at this
moment was real healthcare,
social welfare and counselling
services that would enable them
to be effectively reintegrated and
re-absorbed in the society, so
that they would continue living
their lives as normal citizens
of Nigeria.
Ekwowusi said having
experienced unspeakable trauma,
dehumanisation and violence in
the hands of their Boko Haram
captors, it is unreasonable and
illogical to subject the girls to a
traumatic, violent-wrecking and
life-threatening abortion process.
Ekwowusi stated that the
FACH members were offering
free maternity homes and
rehabilitation homes where
the girls could willingly go to
safely give birth to their babies
and afterwards could give them
out for legal adoption if, for any
reasons, they do not want to
keep them.
While receiving the cash
donation on behalf of NEMA,
Mr. Bitrus Samuel, thanked
FACH for its generosity
and public-spiritedness. He
hoped that other NGOs and
organisations in Nigeria would
emulate FACH’s example in
rehabilitating the Chibok girls
and the internally-displaced
persons presently housed in
a Camp in Abuja.
Illegal Oil Bunkering: Navy
Arrests 30 Ships, Says FOC
Bassey Inyang in Calabar
The Flag Officer Commanding
(FOC) of the Eastern Naval
Command, Rear Admiral Henry
Babalola, has disclosed that the
Command has arrested over
thirty vessels and destroyed some
equipment and facilities used for
illegal bunkering and refining
of stolen crude oil.
Babalola made the disclosure
at the weekend during a
dinner staged to mark the
end of a three-day Annual Sea
Inspection of combat facilities
in the commands’ area.
In an interview session with
journalists in Calabar, the FOC
said: “In the last six months, we
have arrested well over thirty
Ships, tug boats and barges and
almost on a daily basis, my
operation men in Port Harcourt,
Ikot Abasi, Calabar, Bonny and
Ibaka go on aggressive patrols
and we have destroyed numerous
illegal refineries, we have seized
equipments and destroyed several
of their formations and it is a
continuous exercise.
Babalola said though the task
given to the navy on maritime
environment is very daunting,
but the officers and ratings are
equal to the task.
“To police four thousand
square nautical miles is not an
easy task. We have been doing
this with other commands of
the navy.
“We have carried out very
numerous arrests and by the
record from the oil industry,
there is tremendous reduction
in the crude oil theft,” he said.
Despite these successes,
the FOC said there were still
challenges in tackling other forms
of criminal activities.
He said: “The major security
challenge facing us on the sea
now is the problem of kidnapping
and hostage taking and I’m
happy to inform you that
the Chief of Naval Staff has
allocated some new patrol boats
to combat these head-on. We
are also expecting other patrol
boats being constructed in Port
Harcourt and when we have
those boats on our waters, there
will be a very very significant
reduction of piracy.”

THISDAY MONDAY MAY 18, 2015 11

12 MONDAY MAY 18, 2015 THISDAY

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ADVERTORIAL

THISDAY MONDAY MAY 18, 2015 13

14 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 15

16 MONDAY MAY 18, 2015 THISDAY
CFO succession planning is still a major gap, and many
audit committees want to dive deeper into finance issues.
• What our 2015 KPMG Audit Committee Survey Tells Us
Except for during a crisis, the issues on
the audit committee’s radar don’t change
dramatically from year to year (and they
probably shouldn’t); but sometimes small
shifts tell a big story.
In our 2015 Global Audit Committee Survey,
it comes as little surprise to see four key
concerns carried from last year: economic and
political uncertainty and volatility, regulation
and impact of public policy initiatives,
operational risk, and cybersecurity. Clearly,
a slowing global economy, the flare-up of
geopolitical hotspots, and the proliferation
of major cyber breaches have intensified the
spotlight on these issues. But for many audit
committees today, these headline risks are
also driving a slower moving – yet critically
important – trend potentially impacting the
audit committee’s effectiveness: agenda
overload.
Our survey sought the views of audit
committee members on:
• Top Challenges and Concerns
• Risk and information Quality
• Audit Committee Agenda and Workload
• Oversight of Auditors
• Audit Committee Effectiveness
Audit committees, by and large, continue
to express confidence in their oversight
of the company’s financial reporting and
audit quality. But the accelerating speed and
complexity of business and risks are stretching
and straining many audit committee agendas,
which often include other major areas of risk
– compliance, IT, cyber risk, and others. Of
the 1,500 audit committee members who
responded to our global survey, three out of
four said the time required to carry out their
responsibilities has increased significantly
(24 percent or moderately 51 percent). Half
said the job continues to grow more difficult
given the committee’s time and expertise.
In a positive development, more boards are
reallocating risk oversight responsibilities
among their committees and the full boardwhich
bodes well for audit committees. A
lighter “risk agenda” can translate into more
time for quality discussions and a deeper
understanding of the business – two factors
that survey respondents said would most
improve their audit committee’s effectiveness.
Survey respondents also cite ongoing
opportunities for improvement in a number
of critical areas – from CFO succession
planning and getting more insight from
external auditors (e.g., on the strengths and
weaknesses of the finance organization), to
improving the quality of risk information
and better leveraging internal audit as a vital
resource for the audit committee.
Of course, it is difficult to compare data
from 35 countries – often with markedly
different business environments, regulatory
requirements, and corporate governance
practices. But our 2015 survey findings offer
insights that audit committees (as well as
management teams, auditors, and others)
can use to sharpen the committee’s focus,
benchmark its responsibilities and practices,
and strengthen its oversight going forward.
A snapshot of responses
CFO succession planning is still a major
gap, and many audit committees want to
dive deeper into finance issues.
Assessment of CFO performance and
interactions with the audit committee are
generally viewed as effective; yet more than
40 percent of audit committee members say
the committee is “not effective’ in the CFO
succession planning (clearly a pressing issue
given the rate of CFO turnover). Many audit
committees would like to hear about various
aspects of the finance organization’s work –
financial risk management, capital allocation,
tax, debt – in greater depth.
Views on audit reforms are mixed;
and while confidence in audit quality
continues to be strong, there’s still room
for auditors to offer more insight.
Across the globe, audit committee views on
whether the EU’s audit reforms (including
mandatory rotation) will improve audit
quality widely. The greatest areas for external
auditors to improve their performance: offering
insights and benchmarking on industryspecific
issues; helping the audit committee
stay up to speed; and sharing views on the
quality of the financial management team.
On internal audit, audit committees are still
looking for greater value.
Q1. Which of the following risks (aside
from financial reporting risk) pose the
greatest challenges for your company?
33%
30%
27%
26%
47%
21%
20% 4%
16% 7%
7%
9%
52%
Other
Task risk
Uncertainty and volatility, regulation
and compliance, and operational risk
top the list of the challenges facing
companies today.
Many audit committees around the world
point to economic and political uncertainty
and volatility, regulation and compliance,
and operational risk, and controls as posing
the greatest challenges for their companies.
Audit committees want to spend more
time on risk oversight – particularly
cybersecurity and the pace of technology
change.
Audit committees want to devote more – or
significantly more – agenda time to overseeing
the company’s risk management processes
and operational risk and controls, as well as
cyber security and the pace of technology
change.
The quality of information about
cybersecurity and technology risk,
talent, innovation, and business model
disruption is falling short.
Audit committee members rate much of
the information they receive as generally
good, yet many continue to express concern
about the information they receive (at the
committee or full board level) related to
cyber risk and technology change, talent
management, growth and innovation, and
possible disruption to the business model.
(The CIO ranks lowest in terms of quality
interaction and communication with the
audit committee.) Exposure to (and readiness
for) critical infrastructure failures- financial
systems, telecommunication networks,
transportation, energy/power-may also
require more attention.
More boards are reallocating risk
oversight duties as the audit committee’s
workload becomes more difficult.
Three quarter of audit members surveyed
the time required to carry out their duties
Q2. Are you
satisfied that your
audit committee
has the time
and expertise
to oversee the
major risks on its
agenda in addition
to carrying out
its core oversight
responsibilities?
Possible disruption to the business model
Growth and innovation (or lack of innovation)
Talent Management and development
Operational risk/ control environment
Legal/ regulatory compliance
Government regulation/ impact of public policy initiatives
Uncertainty and volatility (economic, regulatory, political)
8 %
No
40 %
Yes, but
increasingly
difficult
Supply chain risk
Global systemic risk (pandemic, social unrest, geopolitical instability)
52 %
Yes
Cybersecurity - including data privacy and protection of intellectual property
Pace of technology change (e.g., emerging technologies, mobile, social media)
has increased moderately (51 percent) or
significantly (24 percent); and half said that,
given the audit committee’s agenda time and
expertise, their role is becoming “increasingly
difficult”. More than one-third of boards have
recently reallocated risk oversight duties
among the full board and its committees (up
from 25 percent last year) or may consider
doing so in the near future.
So what are the key takeaways
for organisations and
Audit Committees?
Audit Committee Agenda and Workload
• Reassess whether the committee has
the time and expertise to oversee other
major risks
• Be wary of “mission creep”, and
consistently question whether new
and ongoing issues belong on the audit
committee’s agenda. Does cyber risk
require more attention at the board level?
• Take a hard look at the board’s
risk oversight approach. Does the
allocation of risk oversight activities
make sense in light of how the risk and
regulatory environment has changed
recently? Is there a need for another
committee, additional expertise, or
better communication and coordination
on risk oversight among committees?
Oversight of Auditors
• Stay apprised of various audit reform
initiatives and take lead on ensuring
audit quality
• Set tone and clear expectations for the
external auditor, and actively monitor
auditor performance through frequent,
quality communications (formal and
informal) and a robust evaluation of the
external auditor’s performance.
• Internal audit should be a crucial voice on
risk and control matters – from financial
reporting and compliance issues to key
operational and technology risks facing
the business. Does internal audit have
the stature – and a direct line to the audit
committee – to ensure that its voice is
heard and valued?
• Leverage internal audit as a barometer of
the company’s financial and operational
health – helping the audit committee
understand the quality of financial and
operational
KPMG CFO Forum Series
For more information on this article,
please contact:
Tola Adeyemi
tola.adeyemi@ng.kpmg.com
Segun Sowande
segun.sowande@ng.kpmg.com
© 2015 KPMG Professional Services, a partnership registered in Nigeria, and a member of the KPMG network of independent member firms affliated with KPMG International Cooperative (“KPMG International”), a swiss entity. All rights reserved.
KPMG CFO Forum, tackling issues and
challenges CFOs face
www.kpmg.com/ng
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www.facebook.com/kpmg.nigeria
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THISDAY MONDAY MAY 18, 2015 17

14 THISDAY • MONDAY, MAY 18, 2015
COMMENT
Editor, Editorial Page Peter IshAkA
Email peter.ishaka@thisdaylive.com
FIGHTING CORRUPTION AND PROTECTING OUR DIGNITY
Dele Olowu argues the fight against corruption should not be limited to protecting our material resources, but also about protecting our dignity from assaults
Muhammadu Buhari’s victory in the Presidential
election has provoked great excitement and
expectation about the prospects of a new Nigeria.
It is well known, as he himself declared in his
convention speech that Buhari does not have
a fist full of dollars and that even if he had, he
would not throw it at anyone. Buhari barely concealed his relative
indigence, and the last Presidential election, would perhaps be the
only instance during which penury has been used successfully as an
instrument of political mobilisation.
Obviously, governance in Nigeria is not a Holy Order populated
by saints and angels. But even though corruption is rampant, and
countless players have trashed the system flat and out, Nigerians
still value people of integrity. That is why in spite of all the
material odds against him, Buhari with his meagre resources, not
only prevailed against Goliaths in his own party, but also against
incumbency and the state-supported PDP. General Buhari’s triumph
reestablishes the fact that in spite of the grim reality of widespread
corruption in our country, Nigerians still place a huge premium on
integrity. Buhari’s signature quality is his honesty and integrity. This
character hangs on his chest like a war medal and most Nigerians
expect that he will use this asset in changing the face of governance
in our country. In view of the massive dysfunctions that have crept
into public governance in the last 16 years or so, the public expects
so much healing from General Buhari. Some Nigerians may well
believe that the General can walk on water. The greatest and most
fanciful expectations are in the area of the fight against corruption.
If General Buhari were to fail to deliver on this count, we should
not expect any dramatic successes from him, in other areas of our
national life.
But the public needs to be reminded that the fight against corruption
is not only about fighting the misuse of resources or about
forcing felons to return stolen goods. Nor should we suppose, as is
currently being done, that certain public institutions, even without
interrogation or scrutiny, can be adjudged guilty of corruption.
Most eyes for example, seem to dwell on the Ministry of Petroleum
and the NNPC, which have been so massively slandered, it seems
not one individual in any of the two entities, can be identified as
competent or honest. The oil industry in Nigeria may have been
tainted in the past by grave misdemeanors. But, this cannot by itself,
mean that everyone who works in this sector is either a felon or a
criminal-in-waiting.
Even if strong restoration work is required in the oil sector, we
must proceed with a proper understanding that eminently useful
work has been produced in the oil industry and that its technocrats
are amongst the most sophisticated and well- trained of Nigeria’s
workforce. Corruption involving massive embezzlement is a huge
ulcer on our body politic, and requires to be addressed. They occur
in all layers of our national experience and therefore require to be
dealt with decisively. But it helps neither the anti-corruption cause
GENERAL BUHARI’S TRIUMPH REESTABLISHES
THE FACT THAT IN SPITE OF THE GRIM REALITY
OF WIDESPREAD CORRUPTION IN OUR
COUNTRY, NIGERIANS STILL PLACE A HUGE
PREMIUM ON INTEGRITY. BUHARI’S SIGNATURE
QUALITY IS HIS HONESTY AND INTEGRITY. THIS
CHARACTER HANGS ON HIS CHEST LIKE A WAR
MEDAL AND MOST NIGERIANS EXPECT THAT HE
WILL USE THIS ASSET IN CHANGING THE FACE
OF GOVERNANCE IN OUR COUNTRY
nor the fight to raise governance levels, if certain quotas of our
workforce are singled out for habitual and mindless denigration.
Because the fight against corruption dwells unfairly on particular
sectors, we tend to ignore the philosophic origins of the structures
by which our leaders corruptly subjugate us.
The more enduring forms of corruption, which seem to continue
unchallenged, are the several gestures of arrogance with which our
leaders oppress us, and continually, remind us that we are beholden
to them. These gestures are part of the social and political rites with
which the ruling elite reinforce the unjust Nigerian order. These
include the protocols of extreme veneration with which we allude
to our leaders, namely; “Your Excellency,” “Head of State and
Commander –in - Chief”, “Distinguished Senator” and so on and
so forth. These protocols, applied often enough, delude our leaders
into believing they are deities. This phenomenon has sometimes
been referred to as the imperial syndrome in African governance.
The use of this language of extreme veneration is a communicative
assault on the dignity of those whom our leaders rule over. This
assault on our dignity is further expressed in the disrespectful
deployment of high police officers to stand
behind governors and their wives during public ceremonies;
it is also expressed when a Colonel is deployed to stand behind
our Head of State during state functions. Often the Colonel does
nothing more significant than carrying the President’s speech at
public events. Most of the time, the Colonel’s presence is awkward
and redundant. And yet such highly-trained manpower is used so
cheaply, merely to remind us of the mighty power of those who
run our lives. Assaults on our dignity such as these, form part of
the structure with which our rulers have sought to subjugate us.
This trend also corrupts the phenomenon of power and how it is
deployed in our society. We tend to ignore these corrupt assaults
on our collective dignity, because they involve no loss of material
resource. But we have cumulatively lost our social dignity because
of these aggressive assaults. Those who care about the defence of
our dignity will therefore be glad to learn about General Buhari’s
warming to members of his convoy that they must obey all traffic
regulations. The announcement specifically frowned on the common
practice by which convoys produce chaos and sometimes accidents
on our roads. This announcement marks a useful departure from
the old trend which places the comfort of our rulers above every
other consideration, including the safety of our citizens.
Buhari, may by this token be drawing the curtain on the era
of indulgence and selfishness in public governance. Our leaders
must cut down on the arrogance of power and respect the dignity
of the citizens, over whom, they rule. More importantly, we must
remind ourselves that the fight against corruption is not only about
protecting our material resources, nor about auditing a specific
entity. It is also about protecting our dignity from the predatory
assaults of our rulers.
Olowu, a public policy analyst, wrote from Abuja
THE BIG WHY
Despite the inability of the federal government to fully fulfill its statutory obligations, NNDC has acquitted itself creditably, argues Ifeatu Agbu.
It is common knowledge that the Niger
Delta Development Commission (NDDC)
was established by the Olusegun Obasanjo
administration in December 2000 to facilitate
the rapid development of the Niger Delta
region that produces over 90 per cent of the
country’s oil wealth. It is, however, unfortunate
that despite the spirited drive by successive boards
of the commission to perform, their efforts were
seriously constrained by several factors, including
inadequate funding.
The act establishing the NDDC states clearly
how the commission shall be funded. Section 14[2]
provides that “there shall be paid and credited
to the fund established pursuant to subsection
[1] of this section; [a] from the Federal Government
the equivalent of 15 per cent of the total
monthly allocation due to the member states of
the commission from the federation account, this
being the contribution of the Federal Government
to the commission; [b] three per cent of the total
annual budget of any oil-producing company
operating onshore and offshore in the Niger Delta
area, including gas processing companies; [c] 50
per cent of monies due to member states of the
commission from the ecological fund...” and other
sources such as grants and loans.
Apart from the federal government which
did not comply with the provisions of the act,
especially during the Obasanjo years, some of the
oil companies have also not been paying the three
per cent of their annual budget as required by law.
Records show that they deduct first charges before
calculating the three per cent from the balance.
It is more like cutting the nose to spite the face,
given that what they spend for the development
of the Niger Delta is for their own good at the
end of the day.
The federal government is reported to have
defaulted in meeting its obligation to the commission
to the tune of about N740 billion. In spite of
these constraints, it could be said that the NDDC
has acquitted itself creditably. The conspicuous
presence of its projects in all nook and crannies
of the region bears this out. Even with this,
previous boards were accused of leaving behind
many uncompleted projects. This was what made
President Goodluck Jonathan to specifically order
the current board during its inauguration to focus
on the completion of projects rather than starting
new ones. The new board, from all indications,
has kept faith with the presidential directive
despite the funding challenges that it has faced
since its inception on December 16, 2013.
Contrary to the spurious allegations by a body
called the Emergency Integrity Group that the
current board has received and squandered over
N300 billion, the facts available show that all that
the board has received so far is just about N56
billion. It has to a large extent, prudently deployed
this amount in completing some of the big ticket
projects initiated by the previous boards.
Information from the commission’s project
monitoring directorate shows that NDDC constructed
about 550 kilometres of roads; completed
over 50 water schemes in addition to providing
electricity to about 70 communities. Records from
the commission also show that in the last one
year, under the watch of the current board and
management, 247 projects were completed.
Among the projects inaugurated within this
period are four 522-bed space modern hostels
at the Federal University of Technology, Owerri
(FUTO) and the Imo State University, both in
Imo State, as well as the University of Benin and
the Delta State University, Abraka. In all, 19 of
such hostels are being built in universities and
polytechnics across the Niger Delta.
The contributions of the NDDC to the education
sector were not limited to infrastructure.
According to the commission’s Managing Director,
Mr. Bassey Dan-Abia, the interventionist agency
had in recent times provided “science equipment
to our secondary schools; retrained 500 science
teachers and 225 principals and vice-principals, for
capacity enhancement in schools management and
administration. It has also provided 3,600 sets of
computers to all the polytechnics in the region and
awarded 1,021 overseas scholarships for Master
degrees and PhD programmes in engineering and
sciences, including medicine to youths of the nine
NDDC states, in the best universities across the
world.”
Other training programmes were also designed
to take care of the youths who could not make
it to tertiary institutions. In this wise, the commission
introduced various youth development
schemes to arm the young ones with skills
that would get them gainfully employed. The
positive fall-outs of this strategy are now evident
as statistics made available by the commission
indicate that a total of 5,765 youths across the
Niger Delta Region have so far benefited from
the youth empowerment programmes. According
to the MD, “when we develop and empower
young people, we are bound to reduce crime and
violence in the region.”
In addition to its youth empowerment schemes,
the NDDC has made substantial contributions
to the shift from subsistence farming to modern
agricultural practices. The commission recently
distributed over 100 tractors to State Ministries of
Agriculture in the nine Niger Delta states to boost
food production. It also donated 27 tractors to the
Oil Producers Trade Section (OPTS) group, for
delivery to farmer cooperatives in their respective
host communities.
The appraisal of NDDC’s performance cannot
be complete without reference to its popular Free
Health Care Programme. This is one intervention
that brings tremendous relief and makes immediate
impact on the lives of the rural people. During
the nation-wide strike by medical doctors last year,
the current board deployed the free health care
mission to fill the void in several communities.
Furthermore, the NDDC managing director said
recently that the commission had undertaken the
construction of three specialist hospitals in Bayelsa
State (orthopaedic), Akwa Ibom State (cardiovascular)
and Rivers State (cardio-vascular) in
partnership with private sector service providers.
The NDDC has also inaugurated several roads
and bridges, including the Iselu-Okaigben-Idungboko
road and bridge, which is a bypass that
takes traffic from Asaba in Delta State to Auchi
in Edo State. The 25.7-kilometre road reduces the
journey from the Delta State capital to the Federal
Capital Territory, Abuja by over an hour.
There is nothing wrong with criticism so long
as they are based on verifiable facts and figures
and not sheer mischief or ignorance. Constructive
criticism can be helpful in spurring development
and that is the only way it can command respect.
If the Emergency Integrity Group had taken pains
to investigate what the current board has achieved
with the resources available to it, they wouldn’t
have embarked on a campaign of calumny.
Agbu wrote from Port Harcourt

THISDAY • MONDAY, MAY 18, 2 015
15
EDITORIAL
STILL ON THE APAPA TRAFFIC GRIDLOCK
There are perils for the economy in leaving Apapa the way it is. Something must be done
The Association of Nigeria Licenced
Customs Agents (ANLCA) said
last week that the nation was losing
about N5 billion daily on account
of the traffic gridlock along Oshodi-
Apapa Expressway, Wharf Road,
Marine Bridge, Ijora and Orile-
Iganmu. Calling on the relevant
authorities to act over the nuisance being constituted
by trucks and tankers in the town which hosts the
nation’s major sea ports, ANLCA warned that it
might soon down tools if nothing is done to redress
the ugly situation. We align ourselves with the call.
On a normal working day, it takes an average of
five hours to meander through the maze of tankers
and trailers that have turned most of the roads in
Apapa into parking lots. Besides, the horror offered
by the craters and potholes is worse during raining
season when navigating the traffic- prone zones by
motorists becomes very difficult. What this implies
is that the Apapa-Oshodi Express-road through the
Tin Can Ports is most often literally shut down. The
same is true for the Seven Up/Apapa Bridge, which
is another parking lot for in-coming trailers and
tankers.
Hoodlums have also taken advantage of this
IT IS SAD THAT APAPA,
WHICH ORDINARILY
SHOULD BE THE
HEARTBEAT FOR
CORPORATE NIGERIA, IS
A NEGLECTED BUSINESS
DISTRICT WHOSE
INFRASTRUCTURE,
ESPECIALLY ROADS,
ARE NOT ONLY DECAYED
BUT IGNORED BY THE
RELEVANT AUTHORITIES
state of confusion
to unleash mayhem
on road users who
severally have had to
abandon their cars to
run for safety. Many
have lost their lives
and property worth
millions to these men
of the underworld.
Yet, as the days
unfold, the Apapa
Business District gets
worse for what it
offers both residents and businesses. It is even more
saddening to note that some of these problems are
within human control.
Virtually every company located in Apapa is
THISDAY
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DEPUTY EDITORS EDDY ODIVWRI, ROLAND OGBONNAYA
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now being short-changed by the excesses and sharp
practices of these tanker and trailer drivers as well as
their owners. It is either that one tanker is struggling
to avoid the queue and therefore drives from one
end of the road down to the gate to beat those on the
queue, or that another trailer has successfully beaten
the others and is being given an executive clearance
to load or offload. Of course at the other end are the
owners of the tank farms and depots who do not
allow these trucks into their parking lots. All these
help to create an atmosphere of chaos which makes
life very difficult for Apapa residents and visitors.
The Lagos State Government is at the vanguard
of instilling discipline but these truck
drivers are ever unwilling to comply with
laid down rules on the use of the highway.
On several occasions, these tanker drivers had gone
on strike and with that create scarcity of petroleum
products thus bringing enormous suffering on the
populace.
In more civilised climes, what is happening in
Apapa is anathema. This armada of trailers and
petroleum tankers will be considered primitive.
Years of toeing the path of impropriety and poor
infrastructure development and maintenance in the
energy and other sectors are having their crushing
toll on other forms of business. It is sad, if not tragic
that Apapa, which ordinarily should be the heartbeat
for corporate Nigeria, is a neglected business district
whose infrastructure especially roads are not only
decayed but ignored by the relevant authorities.
Until the federal government finds it appropriate
to build refineries close to the points of consumption,
revive our rail systems and create a more orderly
and cost effective means of lifting bulk cargo and
petroleum products, Apapa will continue to be a
nightmare for the residents and businesses operating
within the town. But a measure of sanity can still be
restored today. We therefore call on the Lagos State
government not to relent in fighting this blackmail
by tanker drivers as well as owners of petroleum
and gas tank farms, who have scant regard for other
businesses in Apapa.
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REFORMING THE UNREFORMABLE: THE UNFINISHED BUSINESS
Few years ago, Dr Ngozi Okonjo-Iweala wrote a book
by this same title. I had the good fortune of reading
this book few days ago. What resulted from my
reading this book was a light-bulb moment which
I will now attempt to document with the hope that
people like me, who want nothing more than to see
this nation set on the right path, will get some clarity on certain
matters currently filling our consciousness as a result of the
news hitting our airwaves and digital space.
Contrary to what we have been told and the accusations that
have been hurled at the finance minister in the last year or so,
I have found that from as far back as 2003, Dr Okonjo-Iweala
has been calling for reforms of parastatals, Ministries, Departments
and Agencies (MDAs) and other government-owned
entities. One of the things she quickly observed when she
became finance minister under the Olusegun Obasanjo
administration was that entities like Customs, Nigerian
National Petroleum Corporation (NNPC) and a few others were
structured by the military to be opaque and to enable deliberate
siphoning of funds. And these nefarious activities had gone
on for so long that she knew fighting that level of corruption
would be an uphill task; but she did not relent nor has she
given up even till now.
It is amazing – and even offensive – that it took a major
scandal such as the allegedly missing $20 billion from the
coffers of NNPC as well as the PricewaterCoopers (PwC) audit
report to open the eyes of many to the same issue that Madam
Iweala has been singing about for years. Of course, NNPC is in
dire need of reforms, but let us not be so distracted by all the
hype and buzz this news is creating and lead ourselves in the
erroneous belief that it is NNPC alone that must be dealt the
firm hand of reformation. These same people who now clamour
for its reform should also speak on the reform of Customs,
since it is a huge money generator for government.
Ngozi Okonjo-Iweala herself mentions customs reforms
in her book, calling it an outright failure. Like many other
government-owned entities, when the reform was broached,
it was immediately met with a lot of resistance and opposition
because the powerful political elite controlling that and other
organisations fought hard to crush her efforts. The honourable
minister admits that the structural reforms carried out at that
time required time; and with the administration winding down
its activities, it left behind some unfinished businesses, while
some other reforms suffered major setbacks.
One major cause of setbacks, apart from lack of continuity,
was the ability of the political elite to influence decisionmaking,
to frustrate all efforts made and to block any hope of
achieving success. It is clear that these people, who did not
want their lucrative means of enrichment blocked, would stop
at nothing to ensure the reforms met with little or no success
at all. Powerful Northern interests would besiege the Presidency
to halt any reforms that would affect their pockets and bank
accounts. This happened during Obasanjo’s government and
happened under Goodluck Jonathan also.
In our bid to ensure transparency and accountability in the
management of our national resources through necessary
reforms, let us not stop with NNPC and Customs alone. There
is a call for a complete overhaul of every sector, every ministry,
and every parastatal. This is the time for a wholesome reformation
of the nation. Call Dr Okonjo-Iweala a prophet, and her
book a prophecy of sorts. She has foretold too accurately that
reformation is not only important; it is the foundation upon
which we must build a new Nigeria.
The president-elect would do well to know that if there
is any hope of fulfilling his promises to the Nigerian people,
then he must use Dr Okonjo-Iweala’s book as a roadmap.
But should we stop at parastatals, MDAs, ministries and other
government-controlled organisations? I do not think so. The
minds of the people too need a major overhaul; the scales in
our mental eyes need to fall off so that we can truly see the
issues pervading this nation as they really are.
Akinola Johnson, Garki, Abuja

20 THISDAY • MONDAY, MAY 18, 2015
POLITICS
Group Politics Editor Olawale Olaleye
Email wale.olaleye@thisdaylive.com
08116759819 SMS ONLY
THE MONDAY DISCOURSE
Plateau’s Peace of the Graveyard
Will Plateau State – a one-time serene and tourist destination –
ever know peace again, asks Seriki Adinoyi
A scene of an attack on a Jos town
Over the last decade, the political
crisis over ‘indigene’s rights’
and political representation
in Jos, the capital of Plateau
State, has evolved into a
protracted communal crises
that had spread into even the remotest of
the villages in the state, with at least 4,000
persons killed since late 2001, when the first
major riot broke out in the state.
Fourteen years on, only the heavy presence
of military and police forces has brought
about a fleeting and fragile peace in the state,
which is constantly punctuated with the many
killings in the villages. But evidently, a heavy
military presence is no durable solution.
The peaceful lifestyle of Jos gradually gave
way to suspicions and tensions between
ethnic groups, caused either by allocation of
resources, electoral tussles, contest over land
rights, or religious domination fracas, which
eventually amalgamated into an explosive
mix that has consumed hundreds of lives.
The presence of well-organised armed
groups in both the urban and rural areas
became the order of the day, with attendant
proliferation of weapons, and significant
rise in gun fatalities among the citizens.
Subsequently, long-standing tensions
within smaller towns and villages in the
state escalated into violence.
The killings only came to a halt tentatively
when the federal government declared a
state of emergency in 2004, after about 700
people were slaughtered in cold blood in
an attack on the town of Yelwa in southern
part of the state.
Clashes between Muslim and Christian
youths rocked the state again in 2008 after a
result local government election was violently
contested in Jos North Local Government
Council, leaving dead at least 700. The year
2010 was one of the worst on record, with
more than 1,000 lives lost. The sleeping village
of Dogo Nahawa was swooped upon by
suspected Fulani militia, leaving hundreds
of beheaded women and children in the
wake of it. This was shortly after a crisis
broke out at Dutse-Uku over an effort by
a man to rebuild his house that was razed
in an earlier crisis.
The list is endless, and human cost of the
violence is immense. The number of internally
displaced persons that have become homeless
since 2001 peaked in 2010, with over 50,000
persons in various camps across the state.
After the 2008 riot alone, more than 10,000
were displaced, while violence in 2010 resulted
in about 18,000 people fleeing the clashes.
Numerous houses and shops in Jos have
been burnt, with blackened remnants littering
the streets in many parts of the city.
All sides of the divide suffered massive
losses. The violence and displacements of
persons have re-shaped Jos and many rural
settlements, as neighbourhoods became
religiously segregated, with many ‘no-go-areas’
altering the patterns of residency, business,
transportation, and trade.
Students of the University of Jos, situated
in the neighbourhood of the Muslim community,
suffered more, as many off-campus
students became victims of the onslaught.
In spite of the huge losses, the people
have refused to steer clear of crisis; they
have refused to co-exist peacefully, even with
successive governments’ efforts, showing that
there are deep-seated hatred and animos-
Fourteen years on, only the
heavy presence of military
and police forces has
brought about a fleeting
and fragile peace in the
state, which is constantly
punctuated with the many
killings in the villages. But
evidently, a heavy military
presence is no durable
solution
ity which must be addressed if enduring
peace must return to the once serene and
peaceful Jos.
Geographically, Plateau State lies in the
middle Belt of Nigeria, between the predominantly
Muslim north and the mostly
Christian south. Historically, Jos was one
region that the Usman da Fodiyo Jihad could
not overrun, after it conquered and took
over Bauchi and subsequently established
an emirate therein.
The city of Jos, established around tin mining
activities during colonial times, attracted
migrants from all parts of Nigeria to work in
the mines and with the colonial administration.
The colonial legacy of indirect rule initially
relied on northern emirate structures. Later,
political power was transferred to the ‘native’
tribes of the Plateau.
Among these, the Berom were one of the
largest tribes and they most vocally defend
‘indigene’s rights’ today. But the Hausa
migrants from the north constituted by far
the most numerous group in the early Jos.
Today, the ownership of Jos and claims to
the ‘indigene’ status are fiercely contested
between the native tribes and the Hausa.
Indigene certificates ensure access to political
representation and positions within the civil
service and beyond.
Only local governments issue these cer-
CONT’D ON NEXT PAGE

THISDAY • MONDAY, MAY 18, 2015
POLITICS/ THE MONDAY DISCOURSE
21
PLATEAU’S PEACE OF THE GRAVEYARD
Residents fleeeing a Jos community in aftermath of incessant attacks
Much of the violence on
the state has resulted
largely from ignorance
and illiteracy. The fact
is that a substantial
population of Nigerians
are still illiterate, which
makes them easy vessels
of manipulation by
unpatriotic elites. This is
very much the case in Jos
tificates and therefore decide the indigene
status of anyone. This arrangement opened
the floodgates for the politics of labelling and
the selective reciting of historical accounts that
foster group boundaries to secure political
control over local government areas.
In a socio-political environment characterised
by strong patronage networks, exclusion
of one fraction of the political elite is widely
felt as socio-economic decline among its
constituency. The urban conflicts dynamics
interlink with tensions in rural areas. The
increasing scarcity of land and access to
riverbanks has resulted in contested claims
over land use between indigene farmers
and Fulani herders.
Religion reinforces the boundaries between
the mostly Christian indigenes and the
Muslim Hausa and Fulani in both urban
and rural conflicts.
In principle, these root causes of the
conflicts are well understood. Nigeria has
elaborated severally on the problem of
indigene rights at several fora and even at
the National Assembly. Yet there has been
a poor political will to address the problem.
The escalation of large-scale urban and rural
violence over the past decade contributed
to the protracted conflicts.
Compounding the tragedy of the Jos crisis,
violent clashes are no longer sparked only by
deliberate political instigation during election
times. In fact, Plateau State remained calm
during the April 2011 and 2015 national and
gubernatorial elections.
But small-scale reprisal and revenge killings
have continued to explode since 2010, even
in the villages. The situation is so tense that
residents fear that any minor incident could
set the town ablaze again. It gives credence
Jang...did his best
to the belief that their some external forces
on standby waiting to unleash terror at the
slightest provocation.
What is obtainable in Jos can therefore
not be described as peace yet. A long-term
solution to the Jos and wider Plateau State
crisis will need to tackle the indigene-settler
divide. However, given that the conflict over
indigene rights is endemic all over Nigeria,
Plateau State will hardly arrive at a durable
solution on its own.
Christian indigenes need only point to the
discrimination against fellow Christians in
northern, predominantly Muslim states to
justify exclusion of the Hausa-Fulani in Jos.
The latter, however, constitutes Nigeria’s most
populous ethnic nationality. Thus, Plateau
indigenes feel threatened with marginalisation
and are not willing to be the first to step
down from exclusive indigene privileges.
Religious leaders will have to take responsibility
for invalidating the perceptions of the
threat to religious identity that have become
entrenched in the daily lives of the people
in the state.
Top-level religious leaders have preached
peace and tolerance, but the message has
neither yielded nor reached those meant for.
While grassroots initiatives echo their tenor,
mid-level religious leaders feel the pressure
to protect their communities. People tend
to be suspicious of inter-religious dialogue,
making it difficult to rebuild trust among
communities.
Several dialogue and peace meetings have
been held to reconcile the various divides,
but most of them only ended up in empty
agreements and promises to sheathe swords;
they soon resume violence at the slightest
provocation.
The outgoing administration of Governor
Jonah Jang has particularly done much in this
regard. Special Adviser to the Governor on
Peace Building, Mr. Timothy Parlong, had on
several occasions collaborated with groups
to bring back peace in the state.
The Governor had also strengthened
Plateau Peace Conference, which was aimed
at bringing all the people together with a view
to addressing their grievances and charting a
common course. But it never really worked.
Jang also appointed Special Advisers from
the various tribes in the state, including the
Hausa-Fulani, thinking that their inclusion
in government could render useful ideas
towards finding a lasting solution. It also
failed.
He also established a state-sponsored
security outfit, the Operation Rainbow, a
neighbourhood watchdog to cub the incessant
killings – still to no avail.
The Senator Representing Plateau North
zone in the National Assembly, Gyang Pwajok,
also exerted a lot of energy trying to reconcile
the people. He has to his credit as a major
player in the much that has been achieved
in reconciling the Hausa community in Jos
with the indigenes. He had on several occasions
visited the Jos Central Mosque and
the Churches to dialogue with the religious
leaders.
At his instance, peace meetings have
severally been held among traditional
leaders. Football match competitions have
been organised at his instance on different
occasions, and empowerment. But in spite
of these laudable efforts, political watchers
have emphatically said both the state and
federal governments have no political will
to end the crisis.
They posited that if they really do, they
would not have been reluctant to implementing
the White Papers of the various
recommendations by the different commissions
of inquiries that indicted several ‘sacred
cows’. They added that as long as these
heavy recommendations of the commissions
of inquiry and the Presidential Advisory
Committee on the crisis, including various
white papers are forced under the carpet,
the resolution of the crisis would remain
a mirage.
Indeed, there have been several commissions
and strategies set up to study the causes of
violent identity conflicts in Jos and proffer
workable solutions. Unfortunately, until the
present moment, government’s responses
to the conflicts are widely “perceived as
ineffective”
At least, 16 public commissions have been
launched to examine the conflict and identify
solutions and many other studies have been
conducted by independent groups. There is
little political will to act on these findings.
Federal and State governments have
regularly worked at cross-purposes, sharply
disagreeing on the measures to mitigate
conflict in Jos, while the involvement of
civil society groups has more or less had
a polarising effect in most cases.
In the aftermath of the 1994 crisis, a sevenmember
judicial commission of enquiring
headed by Justice Aribiton Fiberesime
(Rtd) was constituted by the then military
administrator of the state, to look into the
causes as well as possible solutions to the
crisis. However, the report of that commission
CONT’D ON NEXT PAGE

22
THISDAY • MONDAY, MAY 18, 2015
POLITICS/ THE MONDAY DISCOURSE
PLATEAU’S PEACE OF THE GRAVEYARD
Rampaging youths take to the street at the break of a crisis
since 1994 is yet to be made public by the
government and no white paper has been
produced.
The commission made several recommendations
to the government, including
sanctioning all individuals, groups and
organisations indicted, but these were never
implemented. The government’s inaction led
to many communal clashes for the next five
years, culminating in the September 7, 2001
violence, which led to wanton loss of lives
and property.
On October 18, 2001, former governor
Joshua Dariye also inaugurated a 10-man
commission headed by Justice Niki Tobi to
look into the 2001 disturbances. In its findings,
the commission noted that the 1994 and the
2001 crises were very similar and that if
the 1994 Fiberesime recommendations had
been implemented, the 2001 crisis could have
been averted. Unfortunately, the Niki Tobi
commission suffered the same fate as the
Fiberesime commission.
In November 2008, there were disagreements
over whether it was the federal or
state government that had explicit powers
to set up probe panels. The major fallout
of this disagreement was the setting up of
different probe panels.
The federal government panel was led by
General Emmanuel Abisoye, while that of
the state was chaired by Justice Bola Ajibola,
both Houses of the National Assembly also
set-up their own panels. These needless
contestations and muscle-flexing tended
to exacerbate the conflict. In the end, no
white paper was produced for any of the
panels and none of the recommendations
have been implemented, thereby, creating
the basis for the continuation of the crisis.
This is the challenge before the new
government taking over powers, either at
the state of federal level to again look into
the various recommendations of the panels
without bias.
There was wild jubilation in the Muslim
community in the state following the announcement
of General Muhammadu Buhari
as the President-elect. The community, which
felt contained in the past few years now
feel that their liberty has come with the
election of Buhari, who they hope will bring
‘freedom’ to them.
This was evident in their utterances when
they celebrated Buhari’s victory. The indigenes,
on the other had are warming up for the
worst; they are watching and eager to see how
Buhari would take what rightfully belongs
to them and give it to settlers.
The incoming administrations of Buhari
and Barrister Simon Lalong therefore have
a big task in their hands to do more to
reconcile the people and not to divide them
further. Lalong has assured the people of his
administration’s determination to reconcile
the people by setting up Committee of elder
CONT’D ON NEXT PAGE
Jos North youths in a demonstration for peace
Police at the site of an attack

THISDAY • MONDAY, MAY 18, 2015
23
PERSPECTIVE
The Next Steps for the Niger Delta
Tonbofa Ashimi sets an agenda for the Niger Delta in the emerging
dispensation
Many Nigerians believe that
the cry from the Niger Delta
should be muted since the
Niger Delta was given the
chance to rule Nigeria. They are right to
the extent that the Niger Delta indigenes
should now be first partakers in investing
in developing the region. But they must
understand that the cry is even louder
now than before and must be dealt with
by Nigeria wholly.
The cry is from the little children
that innocently bathe in oil blackened
pools of water that surround their small
islands. Their parents fish from these
waters ignorant of the health hazards this
exposure brings to them. Environmental
pollution has risen with the activities of
illegal oil refineries in the creeks, added
to those of the operators of OMLs. The
urgency for justice in the Niger Delta has
increased.
The battle for justice started formally
with the Movement of the Survival of the
Ogoni People (MOSOP) and then came
the Kaima Declaration, which encouraged
non-violent fighting for environmental
rights of the Niger Delta, some measure
of control over the oil resources, as well
as general recognition as a vital minority
Nigerian tribe.
This was the cause for which the likes
of the late Ken Saro Wiwa and Oronto
Douglas fought. With the execution of
Saro Wiwa and the deepening of poverty
levels in the region whilst oil boomed,
some youth members decided to pick up
guns and force the recognition sought.
They ruled over the creeks, which
holds most of the oil in their black green,
waters and prevented the oil operators
from exploiting the oil. They kidnapped
expatriates, enriched themselves from
ransom paid whilst impoverishing
Nigeria. They succeeded where talks
failed, since the federal government
of Nigeria’s dwindling revenue forced
dialogue, culminating in amnesty being
given to the militants.
Then came the intervention of destiny
and the inauguration of President Goodluck
Jonathan (then Vice President of the
FRN) as President upon the demise of
the then President Musa Yar’Adua. This
was certainly more recognition than the
Minister Of Defence, Maj-Gen. Godwin Abbe, Ex-Militant Leader, Government Ekpuomokpolo (Tompolo), Governor Emmanuel Uduaghan And Timi Alaibe
initial fighters foresaw.
This was the chance to right the
environmental injustices – change the
attitude to oil spillages by ensuring
compensation, huge fines and thorough
clean up; ensure adequate community
participation in the OMLs; start training
programmes for the youth in relevant
skills in the energy sector. Five years
down the line and the creeks are more
blackened with oil, environmental laws
still archaic with negligible penalties and
regulators of the oil sector still in bed
with operators. The youth in the creeks
are still disillusioned; the “cause” seemed
to have been forgotten.
Nigerians opted for change in the
2015 elections and the door was shut.
President Goodluck Jonathan saved the
country of the anticipated anarchy by
conceding to defeat, ever so graciously,
even as the Orubebes started frothing.
Niger Deltans, it’s time to return to the
drawing board and understand what the
cause was about!
It was about saving the future of our
children. It was about bringing fresh
fish, prawns back to the waterside. It was
about ensuring corporate responsibility
of international standard that global oil
operators adhere to in developed worlds
that the likes of President Obama impose
huge fines to ensure. It was about
encouraging our youths to work, learn
the skills to be relevant in the energy
sector.
As the “resource control hats” that
benefitted from the FCT vacate the
centre, they should head back to the
Niger Delta. They should invest in good
private schools, in businesses that will
create employment, generally start to put
the money earned where our mouths
have been and take the first steps to
developing the region.
We also call on the new government to
make the laws stricter to discourage pollution
and generally adopt an approach
of aggressive enforcement against oil and
gas pollution, to fight illegal refineries, to
involve communities in oil mining leases.
This is the change we look forward to in
the Niger Delta. This is the next step for
the Niger Delta.
-Tonbofa is Managing Partner, Edward
Ekiyor and Co. She was also the Director
General, Due Process and e-Governance for
Bayelsa State
PLATEAU’S PEACE OF THE GRAVEYARD
statesmen from all the various tribes and
groups in the state, to put heads together
to ensure that peace is given a chance.
On his part, Buhari, though a Fulani is
expected to ensure that justice is done
to every tribe and making sure that the
unabated attacks and clashes between his
Fulani kinsmen and the native Berom farmers
in the state are brought to an end.
There is also no gain-saying the fact that
the promotion of good governance at all
levels of governmental authority remains
the greatest antidote to the problems of
democratic sustenance. In the absence of
good governance, the ruling elite recourse to
ethnic, religious and regional appeals thereby
inflaming primordial identities of the masses.
As such, only a transparent and accountable
leadership that rises above primordial
considerations will be able to enhance the
peaceful co-existence of autochthons and
settlers in Jos.
The inefficiency and ineffectiveness of
security institutions in Jos generally is
underscored by the scope, magnitude and
persistence of violent identity conflicts in
the state.
Strengthening security forces capacity of
proactively detecting early warning signs as
well as respond to inter-communal tension
can help to contain better the outbreaks of
violence. This will require capacity building
and efficient intelligence gathering mechanisms,
including the provision of state of
the art weaponry, necessary for combating
unrest in the 21st century.
In doing this, means for investigating
allegations of security sector complicity in
ethnic and religious violence are required
to ensure accountability. Also, measures that
prevent political elites from manipulating
security personnel for parochial aggrandisement
should be put in place.
Much of the violence on the state has
resulted largely from ignorance and illiteracy.
The fact is that a substantial population of
Nigerians are still illiterate, which makes them
easy vessels of manipulation by unpatriotic
elites. This is very much the case in Jos.
It is therefore necessary to promote and
encourage education by way of making it
mandatory and free, especially at primary and
secondary school levels, including Nomadic
Education for the Fulani. This will help groom
a new breed of citizens that are conscious
of the implications of the manipulation of
primordial identities or mutual co-existence
and development. Through education, people
can be exposed to the several other peaceful
means for resolving conflicts, rather than
resorting to violence.
The fact that poverty and socio-economic
Buhari...will he change anything.
marginalisation often lead to aggressive and
erratic behaviour with ethnic and or religious
connotations cannot be over-emphasised.
Members of some ethnic groups that feel
alienated or deprived often rationalise their
hardship as resulting from the control of
politics and society by members of rival
ethnic groups.
This scenario has whipped up primordial
sentiments which have often resulted in
violent conflicts. It is therefore imperative
that government and other relevant institutions
design poverty reduction schemes that will
be inclusive of all identities and help reduce
the level and scope of poverty as well as
inequality that are often the real causes of
crisis in the state.
Although the Jos situation has transcended
a local affair, it is important that the Buhari
administration takes it more serious, especially
that its selling point is hinged on security.
The killing and madness in Jos cannot go
on unchecked because of its larger implications
for the polity. It is for this reason that
the presidency must take charge of the Jos
situation, and making it an example of the
change it has so much talked about. There
is need for respite in Jos as do other parts
of the country and this Buhari must take
seriously without prejudice to religion and
ethnicity.

24 MONDAY, MAY 18, 2015 • THISDAY
FEATURES
Features Editor Adeola Akinremi
Email adeola.akinremi@thisdaylive.com
Closing the Infertility Gap
Adeola Akinremi spends an afternoon with one of Nigeria’s famous fertility
doctors, Abayomi Ajayi, who has been helping women to beat the odds of infertility
through in vitro fertilisation
In the middle of the slim street,
the engine of one of the cars had
stopped breathing. But movement on
Norman Williams Street— a roadway
famous not only for its name in one
of Nigeria’s affluent Lagos neighbourhood,
but also for the businesses sited on
it—continues on the go.
On Norman Williams, a street off the
famed Awolowo Road, Ikoyi, Lagos, financial
advisers are tending to their clients inside
their offices when I arrive there this wintry
Tuesday afternoon. I’m on a mission to see an
ecclesiastic whose faith in science is changing
the mood for the women in the country.
At a corner of the street, where Dr. Abayomi
Ajayi’s in vitro fertilisation (IVF) clinic sits,
there is no clear difference in its outlook in
comparison to other offices around it, until
you’re inside the clinic. It’s because Nordica
Fertility Centre is not a natural birthplace.
“Nordica Fertility Centre is a reputable
and leading assisted conception centre with
top-class medical facilities in Lagos, Asaba
and Abuja. Our core competence is infertility
management,” Ajayi says with a sense of
purpose.
Yes, it is the rule of the thump for women
age 34 or younger in otherwise perfect health
to try to conceive naturally for one year
before a medical consult is advised.
But where a woman is 35 and unable to
achieve conception, the likes of Ajayi are
concerned. Of Course, there are numerous
fertility problems that can be treated easily,
but some make it nearly impossible to
conceive without medical assistance, one of
many examples is blocked fallopian tubes.
So in 1992, Ajayi, whose passion for
technology has seen him moved ahead of
his personal challenges, decided to go on
a different path. “The day I really decided
I was going to do infertility management
was in 1992, while performing a surgery on
a patient at the University College Hospital
(UCH), Ibadan – a tuber surgery (that is,
the tubes are blocked). Sometimes, when
we performed this surgery, we had an idea
that what we were doing was nonsense – It
wasn’t working.
“The patients couldn’t get better. We knew
that the tubes were very badly damaged. We
had finished the surgery on this very patient
and we all knew the surgery was not likely
to work. Then I asked my consultant ‘what
do you think we can do for this patient’?
And he said, ‘yes in advanced places they
would have done IVF’. And I said ‘why are
we not doing IVF?’ And he laughed. That
day I decided I was going to do IVF,” he
says with a wry smile.
I ask him if he had an idea of what he
wanted to do for a career as a young man
just to understand where his real passion
lies. He replies that his plan was to be an
aeronautical engineer.
“I always wanted to be a scientist, but
the funny thing was that my first love was
aeronautical engineering. But my eyesight
has never been the best – I started using
glasses since I was 12 – and that made me
had a rethink at the age of 15. So, I visited
MediLag, and I saw some young people in
white coats, and I just decided to be a doctor,
come what may. That was how I switched
over to medicine. I’ve always been good
in what was required to do medicine, but
I didn’t really want to do it initially. When
I was writing my JAMB in 1978 – we were
the first set – my first choice was Medicine,
second choice was Medicine, third choice was
Medicine; I was not looking back,” he says.
So after his laboratory experience in 1992,
for the next few years, Ajayi devoted himself
Dr. Ajayi
exclusively to his new project to help people
he classified as a people at the short end of the
string. Clearly, his fondness for technology
combined with passion to help has seen him
turned the tide for many women and to the
Clearly, his fondness for
technology combined with
passion to help has seen
him turned the tide for
many women and to the
zenith of his career as a
fertility doctor
zenith of his career as a fertility doctor. He
tells me that much. “I like technology. In my
house, even my children, they call me Mr.
Technology. I buy the latest technology – I just
love it. Some I can’t even operate anymore
because I don’t have the time. The second
thing, I love standing up for people who
are suffering. There’s something in me that
stands up when I see people who are at the
short end of the string – and that’s the way
I see infertility. Those two things combines
is what got me to where I am now.”
And when I tease him about how expensive
it can be to have IVF, he reveals his mind
about value for money. He seems genuinely
outraged to hear it being transgressed. For
instance, Ajayi calculates the cost of having
a car and the cost of having good health
upon which the usability of the car depends
differently and then strikes a balance.
“When you say expensive, be careful. I
can use the cost of a car and telephones to
speak to you on that one. 10 phones at the
cost of N100,000 each will not be up to that
child I saw on Sunday,” he says drily with
reference to a child birthed through IVF in
his clinic who curled up to him at a mall
in Lagos on a recent Sunday.
He adds: “One thing you need to do:
make your priorities if you want to do IVF.
Everywhere in the world, IVF is not cheap.
It’s technology. Anything that’s based on
technology cannot be cheap, until a time
comes. Do you know how many generators
I have here? The water that we use in
the laboratory, we import from the United
Kingdom. The gloves we use – which are
powder-free – we get from Germany. So, tell
me if you want people not to cut corners, how
expensive IVF can be? I shudder at people
who think we are too expensive, because
people like that open themselves to go to
the wrong places. Because, it’s possible for
me to use ordinary gloves that have powder,
but in IVF we must use powder-free gloves
and for me to do that, I have to buy it from
Germany. So, when the only thing we start
talking about is cost, we become like some
countries I don’t want to mention where
quality has taken a dive.
“For me, what I tell my patients is that
‘you need to understand what we are doing
first’. And then you can decide for yourself.
We are not expensive, we are not cheap.
It’s just like I want to go and buy an apple
computer or other apple products, and I
say it’s expensive.”
Ajayi is a Baptist Deacon with unusual
devotion to the Bible, but he sees no clash
between his faith and science. For him,
God has given the knowledge; ignorance is
what makes people to remain perpetually in
problems. “If you say God does not approve
of IVF, I say you are ignorant. I’m a Baptist.
I’m a Deacon. I’m a Sunday School teacher.
I know the gospel. I will say to you, when
you have appendix and pain, don’t go to
the hospital, God will do it. Am I saying
God cannot do it? No. But God chooses
what he wants to do; you don’t put his
hands into things.
“And when the bible says ‘secret things
belong unto the lord and the things that
are revealed belong to the son of men’ IVF
is one of those things he has let us know,
if you like you can use it, if you like don’t
use it; that’s your personal decision, don’t
bring God into them. Simple,” he says trying
to explain the relationship between science
and faith.
To be sure, he says everything depends on
God, even with IVF. “I liken what we do to
a man planting corn. In the Bible, Paul said,
“Paul sows, Apollo waters, it’s the God that
gives increase’. If your laboratory works well,
you know what you are doing, your staff is
trained, by the time you have transferred the
embryos and your procedures are controlled,
it’s only left to God. There is a God factor
in it. That’s why when people say we are
playing God, I just laugh. That’s why you
must know the technology itself, what are
the limitations of the technology, why does
this technology have these limitations? As
of now, when we put the embryos there, in
the process of what we called implantation,
we have no control of that,” he explains.
True, IVF is controversial, especially
among the people of faith and it has its
stigma too in cultural setting. In Nigeria,
over the years women have lived painful
life of childlessness without recourse to IVF,
but Ajayi says things are changing because
of awareness and better knowledge of IVF
method.

THISDAY • MONDAY, MAY 18, 2015
25
FEATURES
one of the babies
A nurse welcomes new addition to ‘Nordica babies’ in Asaba, Delta State
Dr. Ajayi speaks to entrepreneurs at Standford University...recently
Dr. Ajayi(2nd left) with other speakers at Leland Standford Junior University, United States... recently
PHOTO: SAUL BROMBERGER
“What we want people to do is to be able
to empower them, and remove the stigma
of infertility. 70 to 90 percent of people with
infertility have not done anything wrong,
so why should you be ashamed? And that’s
what we want people to understand: it’s not
because you’ve done anything wrong. It’s
just a medical condition, like people who
have epilepsy, appendicitis, and all kinds
of things, so also is infertility.
I think majority of Nigerians know better
than to stigmatise IVF babies, but I’m sure
there are still some who are still looking at
these children as if they are not normal.
All over the world, over five million babies
have been born through IVF, and they are
all normal babies. My word to prospective
IVF parents is to ‘shine their eyes’ and be
careful. Yesterday, someone shared her
experience with me. They asked her to go
to a ‘mama’ who put aromatic schnapps
and soap together as a concoction for her to
drink. But how can she drink soap? So, she
just paid the money, took the thing and left.
And that’s how people become desperate
and vulnerable and people collect money
from them here and there.
“I know for us as Africans, no matter how
educated we are, we still have some excess
luggage from our culture, upbringing; we
still have some beliefs that are not totally
right. But we’ve been blessed with something
called internet. If I hear your name now, I
Google you, to find out about you,” he says.
For his fears, Ajayi says the industry may
be facing the challenge common to every
thriving industry—low quality. He explains
that there are moves to champion a regulation
to bail out the industry from people who
have no business working there.
“The thing is quality control. There are many
people, but nobody is monitoring anybody.
What are the basic minimum requirements to
do IVF? So, the basic thing that’s left is for
In April, the Stanford
University in the United
States, where Ajayi has
equally had training,
desired to use his success
story to stimulate growth
of entrepreneurship on
the soil of Africa and he
was invited to speak at a
summit
the buyer to beware. We need to be able to
educate the buyer on what to look out for.
If not, people will think all IVF practitioners
in Nigeria are quirks. But the truth is that
people are looking for the cheapest.
“Regulation is not something that one
person can do. But I think we are approaching
that because we now have an association
of fertility and reproductive practitioners.
I hope with time that might snowball into
regulation,” he says with an air of expertise.
Ajayi shares a recent experience that encourages
him to forge ahead in keeping up with
women who needs his service. “Penultimate
Sunday, I felt fulfilled for the first time. I went
to buy some sport things at Spark, because
I wanted to start exercising seriously. As I
was carrying my bag approaching my car, a
young lady approached me shouting ‘Doctor
Ajayi, Doctor Ajayi,’. I was surprised that
she recognised me, because she had only
seen my back. But she said ‘my husband
was the first to sight you’. She was with a
young girl. I had never seen a more brilliant
girl. This girl is about 3; she engaged me
in a discussion and I forgot I was talking
to a young girl. Her facial expressions and
everything was wow. I felt very happy that
God used me and my team to make that
happen. Since Sunday, I’ve been remembering
that young girl, and her smartness. She was
born through IVF at our clinic,” he enthuses.
Now, this University of Lagos graduate,
who lost his parents early in life; moved
in to live with his uncle and grew up in
Lagos like a normal child has become a
pathfinder for many and an ambassador
of his country.
In April, the Stanford University in the
United States, where Ajayi has equally had
training, desired to use his success story to
stimulate growth of entrepreneurship on the
soil of Africa and he was invited to speak
at a summit. “A lot of them were surprised
we could do something like that in Africa,
but the reception was very warm. We had
very interesting discussions. But the most
important thing is I don’t see myself as a
doctor anymore, but as an entrepreneur.
Being a doctor is just one part of it. Being
an entrepreneur is a bigger part of it where
you can provide employment for other people,
and help to shape other people’s future.
It’s a big responsibility and I don’t think
it is one that we should take with levity. I
look at some people who have thousands of
people in their employment – it’s a special
grace, and one should not abuse it,” he says.
Revealingly, Ajayi shares the same office
with his wife as a co-worker at Nordica
Fertility Centre at 116, Norman Williams
Street, Ikoyi, but he says,“my wife works
here. Here we are not husband and wife.
We just do our work and get out.”

26 THISDAY • MONDAY, MAY 18, 2015
IMAGES
Photo Editor Abiodun Ajala
Email abiodun.ajala@thisdaylive.com
L-R: Tender/Market Access Manager (GSK), Abass Sanni; Group Product Manager, Ijeoma Eruchalu; Communication
& Engagement Manager, Bolaji Sanyaolu and Founder, Elias Nelson Oyedokun Foundation (ENOF), Lola Ilaka at
the 2015 World Asthma Day Symposium sponsored by GSK in collaboration with ENOF in Lagos...recently
Chairman, Senate Committee on Ecology and Environment, Senator Bukola Saraki ( left ), and former British Prime
Minister, Tony Blair, after a private meeting in Abuja...recently
L-R; Lecturer, Redeemer University, Dr. Omowale Adelabu; Managing Director, Synthesis Communications Limited,
Mr. Desmond Ekeh and Deputy Managing Director, Mr. Agbo Agbo during the visit of the University BrandiQ
Campus Club members to Synthesis office in Lagos...recently
Registrar, Advertising Practitioners Council of Nigeria (APCON), Alhaji Garba Bello Kankarofi (left); presenting an
award to, Commercial Director, Promasidor Nigeria Limited, Mr. Kachi Onubogu for being the best student in the
modified executive programme examinations in Lagos...recently
L-R: Natural Hairstylist, Felicice Leatherwood; Hair Naturalista, Nibi Lawson; and Former Editor , Global of Naturally
Curly Magazine, Cassidy Blackwell, during a press briefing on Kinky Apothecary workshop in Lagos...recently
L-R:Immediate Past President, Nigerian Association of Petroleum Explorationists (NAPE), Adedoja Ojelabi;
Director, Department of Petroleum Resources,(DPR), George Osahon; and President, NAPE, Chikwe Edoziem at the
Presentation of the Association’s 2014 Pre-Conference Workshop Communique to the Director, DPR for onward
transmission to The Minister of Petroleum Resources in Lagos recently.
L-R: Deputy Vice-Chancellor Academy, University of Ibadan, Prof. Gbemi Oke; Deputy Vice-Chancellor, Administration,
Prof. Ambrose Aiyelari; Vice-Chancellor, Prof. Isaac Adewole and Registrar, Mr. Olujinmi Olukoya at a press briefing over
the death of one of the students of the University, Mr. Mayowa Alaran held at the Senate Chamber of the University in
lbadan...recently
FELIX ADEMOLA
L-R : GM Palatially, Henry Okwandu; Company Secretary, Royal Lifestyle Group, Emeka Stevens; Rep. of La Montina,
Alessandro Provasi and , MD, Recherche Events & Gifts Ltd; Abasam Onyia during the La Montina Wine tasting event
in Lagos...recently

THISDAY • MONDAY, MAY 18, 2015
27
BUSINESSWORLD
R A T E S A S A T M A Y 1 7 , 2 0 1 5
NIBOR NITTY EXCHANGE RATE
OVERNIGHT 9.4583 3-MONTH 13.9314 1-MONTH 10.6657 6-MONTH 12.9611 N197.00 US DOLLAR*
1-MONTH 12.8783 6-MONTH 15.1624 2-MONTH 12.5874 9-MONTH 13.3938 *AS AT LAST FRIDAY
3-MONTH 12.641 12-MONTH 13.3089
Quick Takes
ECOBANK PRE-AGM COCKTAIL
L-R: Managing Director, Ecobank Nigeria, Mr. Jibril Aku, Chairman Ecobank Foundation,Chief Philip Asiodu; Chairman, Ecobank
Transnational Incorporated (ETI), Chairman, Ecobank Nigeria, Mr. Emmanuel Ikazoboh; Chairman, Elizade Nigeria Limited, Chief
Michael Ade Ojo; and Dr. Sonny Kuku during the ETI Pre-Annual General Meeting cocktail in Lagos...recently.
AKINWUNMI IBRAHIM
FG’s Revenue Drops by 21% in
February
Obinna Chima
Nigeria’s federally-collected
revenue reduced to N560.84
billion in February 2015.
The estimated federallycollected
revenue in February
2015, according to the Central
Bank of Nigeria’s (CBN’s)
economic report for February
obtained at the weekend, was
lower than the receipt in the
preceding month by 21 per cent.
Similarly, the estimated amount
of revenue earned in February
was lower than the provisional
2014 monthly budget estimate
by 38.1 per cent.
The decline in estimated
federally-collected revenue
(gross) relative to the monthly
budget estimate was attributated
Total Pension Funds Hit N4.7 Trillion
Ebere Nwoji
The total pension funds
currently accumulated in the
country stand at N4.7 trillion
as at December 2014, Chairman
of Premium Pension Limited,
Aliyu Dikko has said.
This figure, according to him,
represents an increase of N0.6
trillion from the N4.1 trillion
in 2013.
The current figure was
contributed by 6.5 million
workers who have enrolled
into the contributory Pension
scheme (CPS) as at December
2014, an increase of 0.4 million
contributors against the
previous year’s figure of 6.1
ECONOMY
largely to the shortfall in receipts
from oil revenue during the
review month.
At N201.12 billion or 35.9
per cent of the total revenue,
gross non-oil receipts was below
the provisional 2014 monthly
budget estimate by 35.0 per
cent. It was also below the
receipts in the preceding month
by 10.4 per cent. The decline
in non-oil revenue relative to
the provisional monthly budget
estimate reflected, largely, the
fall in receipts from National
Information Technology Development
Fund (NITDEF) and
FG Independent Revenue,
according to the report.
PENSION
million contributors.
Disclosing this at the 10th
Annual General Meeting of
his company held in Abuja,
Dikko, whose company is one
of the licensed Pension Fund
Administrators said the above
improvements shown by the
figures was an indicative of
the fact that the teething challenges
of the pension industry
had been surmounted and the
initial skepticism trailing the
operations of the contributory
Pension Scheme drastically
reduced.
“The CPS is today arguably
Of the gross federallycollected
revenue in a net sum
of N408.37 billion (excluding
deductions and transfers) was
transferred to the federation
account for distribution among
the three tiers of government
and the 13 per cent derivation
fund.
The federal government was
said to have received N194.35
billion, while the state and local
governments received N98.58
billion and N76.00 billion,
respectively. The balance of
N39.45 billion was distributed
to the oilproducing states as
13 per cent derivation fund.
From the value added tax
(VAT) pool account, the federal
government received N9.21
billion, while the state and
the most successful government
initiative in recent times and a
clear testimony to the effectiveness
of private-sector-driven
rendition of service in critical
sectors”, he stated.
He noted that the year
2014 marked 10 years of the
introduction of the Contributory
Pension Scheme (CPS) in the
country, adding that the year
also witnessed the promulgation
of the
Pension Reform Act 2014,
which repealed the Pension
Reform Act, 2004.
He noted that the new act
effected a lot of relevant changes
into the pension scheme.
“This new legal instrument
local governments received
N30.69 billion and N21.48
billion, respectively.
“Overall, the total allocation
to the three tiers of government
from the federation account and
VAT pool account in the review
month amounted to N489.85
billion, compared with N568.79
billion in the preceding month,”
it added.
During the month of February
2015, the predominant
agricultural activity across
the country was preparation
of land for early planting.
Other activities in the southern
and northern states included:
harvesting of tree crops;
irrigation-fed vegetable and
Continued on page 28
guiding the pension industry
has among other provisions
graciously increased the total
minimum contributions from
15per cent to 18per cent of the
employee’s emolument, provide
basis for extending the scheme
to organisations having as less
as three employees, allow RSA
holders to utilise part of their
balance as equity contributions
for mortgage facilities and
expanded the investment space
by providing legal framework
for investment abroad.
Describing the new law as
a great opportunity waiting
to be tapped by the industry
Continued on page 28
Ethiopian Airlines Extends Service to Sao Paulo
Ethiopian Airlines has announced that it has started serving
Sao Paulo, a city in the fifth continent in its route network, with
a non-stop flight from Addis Ababa since April 25, 2015.
Ethiopian tri-weekly flights to Brazil are operated using the
ultra-modern Boeing 787 from the major hub in Addis Ababa. The
start of this non-stop service to Sao Paulo reduces transit stops
for customers traveling from the rest of Ethiopian destinations.
Brazil is the largest national economy in South America and
the eight in the world. Brazil has a diversified economy including
agriculture, industry, and a wide range of services such as
ecotourism, leisure and cultural tourism.
Sao Paulo is the biggest city in the country and has significant
cultural, economic and political influence both nationally and
internationally. The city is home to several important monuments,
parks and museums.
“We are very pleased to be able to enhance the quality of our
product and improve our competitive edge. The non-stop flight
secures increased connectivity and reduced transit time for our
customers. The new nonstop Addis Ababa – Sao Paulo flights
will provide efficient connections for customers from almost all
of our destinations in the other four continents we serve. “Said
CEOof the airline, Tewolde Gebremariam.
Passengers to and from Sao Paulo will enjoy maximum connectivity
to destinations in Ethiopian world-wide route network
in Africa, Middle East, Asia and Europe. The new non-stop flight
will enhance travel on the China – Africa – Brazil trade lane.
LEAP Africa Focuses on Risk Management
Managing Director/CEO, Nestle Nigeria, Mr. Dharnesh Gordhon,
Managing Director, Lafarge Cement Wapco Nigeria, Mrs. Peju
Adebayo, Managing Director, Custodian And Allied Insurance
Plc, Mr. Wole Oshin, and Founder, Managing Director, JNC International
Nigeria Limited, Mrs. Clare Omatseye will lead high-level
discussions at LEAP Africa’s chief executive officers forum for
small and medium enterprise (SMEs) on June 9, 2015 in Lagos.
LEAP Africa, a leadership development organisation and its
partners will converge 800 SMEs at the 10th edition of the CEOs
Forum under the theme Staying Ahead: Maximizing Profit and
Mitigating Risks. The speakers will deliberate on sectoral and
industrial risks, the need for SMEs to concentrate their efforts
in evaluating and managing their risk exposures for long term
sustainability.
According to LEAP Africa’s Executive Director, Iyadunni
Olubode, “SMEs should be proactive in managing risk instead
of being reactive. There is a common misconception that only
large companies need to manage risks, but this year’s CEOs Forum
seeks to address that and offer practical advice for entrepreneurs
on protecting their profits through risk mitigation strategies”.
The forum will provide cutting-edge solutions and best practices
in corporations to enable SMEs deal with risks in present political
and economic realities in Nigeria.
Three Crowns Rewards Patrons
In commemoration of the 2015 Mother’s Day celebration, Three
Crowns Milk, a brand from the stables of FrieslandCampinaWAMCO
has rewarded its esteemed consumers in the Mother’s Day
Activation campaign.
The grand prize winner’ Mrs. Olamide Olaleye, who emerged
as the ‘Mum of the Year’ won an all-expense paid trip to Dubai
alongside a companion of her choice while 29 other mothers
were also rewarded with N50,000 shopping voucher.
The Three Crowns Milk Mother’s Day Activation is a Facebook
based campaign in which consumers are expected to write on the
Three Crown’s Facebook wall why their mum is the best mum in
the world. These posts are judged on a daily basis starting from
April 28 to May 7 (10 days) and three were picked daily while the
overall winner was adjudged on the last day of the campaign.
According to the Marketing Director, FrieslandCampinaWAMCO,
Mr. Tarang Gupta, the campaign is in line with the brand’s new
theme campaign which is deeply rooted in recognising the key
role of mothers in the family.
“The business of
banking has been
modernised in Nigeria
and is not too far from
what obtains in the
more advanced world”
MD, Wema Bank,
Segun Oloketuyi

28
BUSINESSWORLD
THISDAY • MONDAY, MAY 18, 2015
NEWS
FG’S REVENUE DROPS BY
21% IN FEBRUARY
cereal production, respectively.
In the livestock sector, farmers
were involved in raising the
stock of livestock to replace
those sold during the festivities.
Though the incidence of
insurgency subsided in
February 2015, agricultural
activities remained subdued
in most areas of southern Yobe
and Borno States as well as
northern Adamawa states.
TOTAL PENSION FUNDS
STAND AT N4.7 TRILLION
operators, Dikko said though
operators including his company
Premium pension are
strategising towards optimising
the benefits,more work still
has to be done in the area
of public enlightenment on
the workings of the industry
and the immense advantages
accruable from enrolling in the
scheme.
He noted that the pension
industry is currently moving
towards reckoning as a critical
sector of the economy and
a major player in national
development adding that this
is as a result of professionalism,
dedication and commitment
of the operators.
“Our company is now firmly
rooted in an industry that has
come to stay.
Credit must also be given
to the National Pension Commission
(PenCom) for its
effectiveness as the regulatory
body of the industry. It contributed
in no small measure
in seeing to the promulgation
of the Pension Reform Act
2014. The agency is driving
the process of actualising the
promises and potentials of the
new legal instrument. PenCom
deserves a great measure of
credit for the tremendous
successes recorded in the
industry in the past decade.
From all indications, the agency
is even poised to do more,”
he affirmed.
Speaking on the state of
the economy,Dikko said that
Standard and Poors credit
rating for Nigeria stands at
BB- while Moodys rating for
Nigeria sovereign debt is Ba3.
Energy Editor
Chika Amanze-Nwachuku
Maritime Editor
John Iwori
AgriBusiness/Industry Editor
Crusoe Osagie
Comms/e-Business Editor
Emma Okonji
Capital Market Editor
Goddy Egene
Senior Correspondent
Raheem Akingbolu (Advertising)
Correspondents
Chinedu Eze (Aviation)
Linda Eroke (Labour)
Eromosele Abiodun (Cap Mkt)
Ejiofor Alike (Energy)
James Emejo (Nation’s Capital)
Obinna Chima (Money Mkt)
Reporters
Nume Ekeghe (Money Market)
Nosa Alekhuogie (AgriBusiness)
Reposition PPMC to End Fuel Crisis,
PENGASSAN Tells FG
Chika Amanze-Nwachuku
The Petroleum and Natural
Gas Senior Staff Association
of Nigeria (PENGASSAN) has
called for the repositioning of
the Pipelines and Products
Marketing Company (PPMC)
to end the intractable and inefficiency
in the distribution and
supply of petroleum products
across the country.
According to the group, if
the challenges confronting
the operations of the PPMC
are not resolved, it would be
difficult for petroleum products
to be available in all parts of
the country and at relatively
the same prices.
The trade union noted that
the PPMC is not only crucial
to the distribution of refined
petroleum products but also
to efficient and effective
performance of the refineries
as it supplies crude oil, which
is the feedstock for refineries’
operations.
PPMC has depots in Port
Harcourt, Enugu, Calabar, Aba,
Gombe, Yola Ibadan, Ilorin,
Makurdi and other major
states’ capitals throughout
the federation.
PENGASSAN argued that if
the PPMC, a subsidiary of the
Nigerian National Petroleum
Corporation (NNPC) was
repositioned and the pipelines
are functioning as supposed
to be, there would be more
jobs and pressure on Nigerian
roads would reduce.
Some of the challenges
hampering the effective and
efficient operations of the
PPMC listed by PENGAS-
SAN include insecurity of
pipelines and staff of the
company, inadequate funding,
ageing equipment, supply of
substandard operational equipment,
shortage of manpower,
irregular capacity building for
existing staff of the company
NAHCO, ANCLA Settle
for 20% Tariff Increase
Chinedu Eze
The Nigerian Aviation
Handling Company (NAHCO)
and the Association of Nigeria
Customs Licensed Agents
(ANCLA) at the weekend
reached a consensus on the
issue of adjustment in air cargo
tariff by 20 per cent.
NAHCO said the implication
of the new agreement was
that the company revised
downward the initial 30 per
cent increase it had started
implementing, while ANCLA
would move up from zero to
20 per cent.
Rising from a meeting held
at the head office of NAHCO
in Lagos, the negotiating
team of ANCLA led by
its Vice – Chairman, Bola
Ashiru–Balogun, with the
Treasurer, Afolabi Azeez and
the Financial Secretary, Obanla
Alex said that they reached
the agreement with NAHCO
and lack of reliable fire trucks
and good safety standards.
PENGASSAN noted that the
greatest challenge confronting
the PPMC is vandalism of
pipelines by criminals and
economic saboteurs.
Explaining the implications
of the challenge, PENGASSAN
said: “The negative impacts of
the pipeline vandalism on the
nation’s economy and the oil
and gas industry are enormous.
Such include non-functionality
of existing refineries, increased
operational cost, job losses,
reduction in investments in
the downstream sub sector
and inability to attract new
investment, and inadequate
supply/availability of refined
petroleum products in other
in the interest of the overall
development of the industry
and in realisation of the fact
that both sides were in this
tough economic situation
together.
The CEO, nahco aviance,
Norbert Bielderman said what
happened was in the best spirit
of give and take and thanked
everyone involved in the
negotiations for their maturity
while particularly thanking
the ANCLA representatives
for their professionalism.
He said: “I would like to
thank you all for the professionalism
you brought into
these negotiations. You guys
have been very professional.
I appreciate that.”
Bielderman urged leaders
of the association to always
feel free to approach NAHCO
whenever issues that concerned
both parties arose.
On his part, Ashiru – Balogun
said this was the first time
parts of the country.
“The efficiency and
functionality of the nation’s
refineries are continuously
frustrated by inadequate crude
oil supply which is as a result of
vandalisation of pipelines that
supply crude to the refineries.
The refineries are continuously
starved of crude oil supply
with possibility of forcing a
shut down.
“The inadequate availability
and scarcity of refined products
across the country can
also be attributed to pipeline
vandalisation, as distributions
of petroleum products which
are supposed to run through
pipes to various parts of the
country are vandalised.
“Both the crude and refined
in a long while that NAHCO
would get its act right; and
that the push by the Company
for the tariff increase was so
organised.
Ashiru – Balogun said
although NAHCO called the
agreement a win-win situation,
it is to the Association and
their teeming members that
was a lose – win situation.
He explained that NAHCO
won this time and should be
congratulated, adding however,
that ANCLA would win the
next time even as he call for
an even stronger relationship
between the two partners grow.
He also urged the Company
to always consult ANCLA
whenever issues that concern
them are decided upon.
An earlier meeting, which held
on Monday, May 11, 2015 could
not resolve the issue and had
to be adjourned till later in the
week. It finally held Thursday
with the agreement reached.
products are piped through the
pipeline manage by the PPMC.
If the pipelines are effectively
policed and secured, there will
be regular supply of crude
to the refineries and those
imported and stored in tank
farms to be piped to depots
across the country for effective
distribution to engender
adequate availability of the
products.”
The trade union also noted
that many of its members
were attacked and killed by
the vandals in line of duties to
fix and repair pipelines broken
and damaged by the vandals.
While demanding that the
government should evolve
the political will to deal with
pipeline vandalisation by using
Damilola Oyedele in Abuja
The Medical and Health Workers
Union of Nigeria (MHWUN)
has called on the federal government
to uphold the Abuja 2010
Declaration of African Heads of
States to commit not less than 15
per cent of budgetary provision
to the health sector.
Rising from its Ninth Quadrennial
National Delegates Conference
in Abuja recently, the union
expressed regret over what it
said was the extreme shortage of
health professionals in the country,
a development which had done
great harm to the functionality of
the national health sector.
In a communique signed by
its President, Comrade Ayuba
Wabba and General Secretary,
Comrade Marcus Omokhuale,
the MHWUN harped on the
urgency of the government’s at
all levels to institute strategies to
arrest brain drain in the sector,
including increased tangible
and intangible motivation, and
commence rapid employment of
modern technology to secure
the pipelines, PENGASSAN
called for overhauling of the
security agencies that are in
charge of providing security for
the pipelines, as it accused some
of the officers of connivance
with the vandals.
PENGASSAN bemoaned
the inadequate funding of
PPMC, adding that most of
the company’s equipment are
ageing and are in bad shape.
“The equipment are ageing as
some of them that have lifespan
of 15 years are over 35 years old
and are not well maintained.
Even when maintenances were
to be carried out, we discovered
that contractors usually supplied
substandard materials for the
repair and maintenance.
ACCOUNTING TO SHAREHOLDERS
L:R: Managing Director/C.E.O, Nigerian Breweries Plc., Mr. Nicolaas Vervelde; Chairman, Chief Kola Jamodu; and the Company
Secretary, Mr. Uaboi Agbabaku, at the 69th annual general meeting of the company in Lagos ....recently
Medical Workers Demand
15% Budgetary Provision
for Health Sector
health professionals at all tiers of
the health system.
“Regrettably, apart from Medical
and Dental Practitioners, there
appears to be a near zero-concern
for the training and re-training
of other health professionals.
Conference-in-session, therefore,
calls on the FGN for a rethink,
for a continued training and
re-training of other health professionals
and staff to enhance health
services delivery,” MHWUN said.
The union expressed worry
about the degree of dilapidation
of health facilities and training
institutes across the country
which it said do not augur
well for immediate and future
healthcare delivery in the country.
This, it said has led to several
colleges of health technology
and university teaching hospitals
across the country losing their
accreditation, despite the fact
that they continue to churn out
human resource for health in a
limited attempt to address the
quantitative shortage of health
professionals.

THISDAY • MONDAY, MAY 18, 2015
BUSINESSWORLD
29
MARKET REPORT
Stock Market Rises by 0.15% as
Bulls Return
Goddy Egene and Eromosele
Abiodun
After seven straight sessions
of negative returns, the Nigerian
equities market bounced back last
week to record an increase of 0.15
per cent.This was as a result of
the positive outcome during the
three last trading days week, help
by bargain hunting by investors
who wants to take position for
possible gains.
At the beginning of the week, the
market had witnessed a mixture of
poor sentiment and profit taking by
anxious investors. Three consecutive
bullish trading sessions that ended
the week led the benchmark to
a positive close, despite disappointing
inflation and GDP data.
Following the previous week’s
all bear session, the declines had.
continued into last week, with the
Nigerian Stock a Exchange (NSE)
All-Share Index ASI shedding 0.79
per cent cumulatively on Monday
and Tuesday. However, the bulls
returned on Wednesday and lasted
through Friday, spurring the benchmark
ASI to cancel initial losses.
Consequently, the ASI recorded a
gain of 0.15 per cent to close at
34,439.40 while market capitalisation
rose by 0.16 per cent to close on
Friday at N11.697 trillion.
Last week’s gain improved the
Month-to-Date and Year-to-Date
returns to -0.77 per cent and -0.63
per cent respectively. Similarly, six
indices finished higher during the
week. The NSE Consumer Goods
and NSE Oil/Gas Indices topped
the gainers’ chart with respective
increases of 0.66 per cent and 0.62
per cent, while the NSE Industrial
Goods index went up by 0.14 per
cent. However, the NSE Banking
index shed 0.19 per cent, just as
the NSE Insurance index went
down by 0.14 per cent.
Daily Performance Summary
Investors’ outlook on the market
remained negative at the resumption
of trading last Monday as the
equities market closed further
southwards. At the close of trading
for the day, the benchmark index
recorded its sixth consecutive
session of declines to settle at
34,341.88 (down 0.13 per cent).
Market capitalisation, which closed
at N11.66 trillion similarly lost about
N16 billion. While volume of trades
moderated (1.20 per cent), value
of stocks traded improved (3.20
per cent).
The market also closed on a
negative note on Tuesday as the
NSE ASI depreciated by 0.66 per
cent to close at 34,115.49. The
depreciation in the Index could
be attributed to the losses recorded
in the share prices of some highly
capitalised stocks such as ETI
Plc, Oando Plc, FBN Holdings
Plc, Nigerian Breweries Plc and
Dangote Sugar Plc, amongst others.
Similarly, the market capitalisation
depreciated by 0.66 per cent to
close at N11.59 trillion.The total
value of the stocks traded on the
floors of the NSE was N3.29 billion,
up by 39.18 per cent from N2.36
billion traded previous day.
However, the market the closed
on a positive note on Wednesday
as the Bulls returned, punctuating
seven straight sessions of negative
returns. Guaranty Trust Bank
Plc, Zenith Bank Plc and ETI Plc
bolstered the positive session,
offsetting declines in Dangote
Cement Plc and UBN Plc. In all, the
All Share Index was 0.27 per cent
higher at 34,208.30 points with a
corresponding market capitalisation
of N11.61 trillion.
The market remained positive
Thursday as the NSE ASI appreciated
by 0.60 per cent to close at
34,414.18, compared with the appreciation
of 0.27 per cent recorded
the prior day. The appreciation in
the Index was as a result of the
gains recorded in the share prices of
Zenith Bank Plc, Dangote Cement
Plc, FBN Holdings Plc, Forte Oil
Plc and Oando Plc, amongst others.
Similarly, the market capitalisation
appreciated by 0.61 per cent to
close at N11.69 trillion. The total
value of the stocks traded on the
floors of the NSE was N4.03 billion,
up by 20.05 per cent from N3.35
billion traded the prior day.
Market sentiment was slightly
positive at the close of trading for
the week last Friday as the NSE
ASI rose by 0.07 per cent from its
previous close. The green outcome
was driven by price gains in Forte
Oil Plc, Nigerian Breweries Plc,
offsetting losses in Guaranty Trust
Bank Plc and Guinness Nigeria Plc.
At the end of trades, the benchmark
TOP TEN BROKERS(BY VALUE) AS AT LAST FRIDAY
BROKER VALUE % VALUE
STANBIC IBTC STOCKBROKERS LIMITED 4,780,988,100.71 13.83
CSL STOCKBROKERS LIMITED 4,509,167,191.07 13.04
RENCAP SECURITIES (NIG) LIMITED 2,427,986,043.47 7.02
EFCP LIMITED 1,793,998,283.88 5.19
FBN SECURITIES LIMITED 1,765,249,661.64 5.11
CORDROS CAPITAL LIMITED 1,236,344,699.37 3.58
CARDINALSTONE SECURITIES LIMITED 1,020,619,904.58 2.95
CHAPEL HILL DENHAM SECURITIES LTD 1,020,351,327.79 2.95
PARTNERSHIP SECURITIES LIMITED 875,136,334.53 2.53
INVESTMENT ONE STOCKBROKERS INT’L LTD 710,669,211.52 2.06
20,140,510,758.56 58.25
TOP TEN BROKERS (BY VOLUME) AS LAST FRIDAY
BROKER
VOLUME %VOLUME
CSL STOCKBROKERS LIMITED 434,373,611 10.51
STANDARD ALLIANCE CAPTL & ASSET MGT. LTD 398,139,374 9.63
GREENWICH TRUST LIMITED 296,614,616 7.18
STANBIC IBTC STOCKBROKERS LTD 272,571,519 6.59
FBN SECURITIES LIMITED 210,546,281 5.09
CORDROS CAPITAL LIMITED 202,861,551 4.91
CARDINALSTONE SECURITIES LIMITED 154,298,621 3.73
READINGS INVESTMENTS LIMITED 123,511,441 2.99
EFCP LIMITED 122,887,120 2.97
RENCAP SECURITIES (NIG) LIMITED 97,457,714 2.36
2,313,261,848 55.96
index closed at 34,439.52 points
while market capitalisation added
N8.61 billion to settle at N11.70
trillion. Market activity significantly
declined as volume and value of
trades dipped by 48.0 per cent
and 65.4 per cent respectively.
Consequently, 184 million units
of shares valued at N1.39 billion
were exchanged on the bourse.
Market Turnover
In all, 1.626 billion shares worth
N14.426 billion in 20,124 deals were
traded last week by investors on
the floor of the exchange in contrast
to a total of 1.584 billion shares
valued at N20.151 billion that
exchanged hands the previous
week in 23,279 deals.
The Financial Services Industry
(measured by volume) led the activity
chart with 1.289 billion shares
valued at N9.741 billion traded in
10,522 deals; thus contributing 79.29
per cent and 67.52 per cent to the
total equity turnover volume and
value respectively.
The Services Industry followed
with a turnover of 76.626 million
shares worth N97.927 million in
1,140 deals. The third place was
occupied by the Consumer Goods
Industry with 69.608 million shares
worth N2.078 billion in 3,552 deals.
Trading in the top three equities-
United Bank for Africa Plc,
Zenith Bank Plc, and FBN Holdings
Plc, accounted for 754.043 million
shares worth N6.223 billion
in 3,699 deals, contributing 46.37
per cent and 43.13 per cent to the
total equity turnover volume and
value respectively.
Also traded during the week
were a total of 25,469 units of
Exchange Traded Products (ETPs)
valued at N3.339 million executed
in 53 deals compared with a total
of 1.388 million units valued at
N31.490 million transacted the
previous week in 47 deals.
There was no bond traded this
week under review. However,
a total of 4,569 units of Federal
Government Bonds valued at N4.966
million were traded the previous
week in two deals.
Gainers and Losers
Meanwhile, the price movement
chart of the NSE showed that a
total of 30 equities appreciated in
price during the week, lower than
32 equities of the preceding week.
Forty-one equities depreciated in
price, lower than 45 equities of the
preceding week, while 122 remained
unchanged higher than 116 equities
of the preceding week.
The top 10 gainers were: seven-Up
Plc (N14.00), Forte Oil Plc (N10.22),
Beta Glass Plc (N3.00), Unilever
Nigeria Plc (N2.03), Conoil Plc
(N1.90), Berger Paints Plc (93 kobo),
University Press Plc (55 kobo),
Neimeth (10 kobo), Caverton Plc
(25 kobo) and Red Star Express
Plc (22 kobo).
On the other hand, the top 10
losers included: Total Nigeria Plc
(N15.00), Glaxo Smithkline Plc
(N9.80), ETI Plc (N2.93), Unity Bank
Plc (39 kobo), Skye Bank Plc (33
kobo), Honeywell (49 kobo), May
and Baker Plc (19 kobo), Learn
Africa Plc (12 kobo), Rt Briscoe
Plc (9 kobo) and Trans Nationwide
Express Plc (10 kobo).

30 THISDAY • MONDAY, MAY 18, 2015
BUSINESSWORLD
INSIDE BROAD STREET
STATUS REPORT
High Level of
Unsatisfied
Forex Demand
Worries
Analysts
Obinna Chima
A view of Lagos financial district
Furore over Repayment of N100bn
Mortgage Bond
Obinna Chima
With few days to the maturity of part of the
federal government’s N100 billion mortgage
bond, the significant drop in federal government’s
revenue is threatening the redemption
of the debt.
Specifically, the total value of Series 3 of the
bond that matures on May 24, 2015 is worth
N24.56 billion. However, given challenges occasioned
by the slump in crude oil prices that
has continued to threaten policies and plans
of government, there have been some issues
around the repayments to the bondholders.
According to findings, the Federal Mortgage
Bank of Nigeria (FMBN), the Debt Management
Office (DMO) and the Federal Ministry of
Finance have continued to trade blame over
who should be held liable for the five-year
bond that was initiated in 2007 to ensure
success of the sale of federal government’s
non-essential residential houses in the Federal
Capital Territory (FCT) to public servants.
In 2007, the administration of former
president Olusegun Obasanjo had initiated
the debt instrument and the FMBN and its
issuing house, had sold the first tranche of
N26 billion same year. However, impressed
with the outcome, Messrs FMBN SPV Issuer
Limited in 2012 issued another N6 billion notes
by way of private placement to qualified
institutional investors.
The Series 2 Fixed Rate Notes issued under
the N100 billion Residential Mortgage Backed
Securities Programme, which is sponsored by
FMBN, was 100 per cent guaranteed by the
Federal Government of Nigeria. The bonds
have unconditional and irrevocable guarantee
of the Federal Government, making investments
in the securities virtually risk-free.
A statement obtained on the transaction
showed that “The Mortgage-Backed Bond
was issued under Special Purpose Vehicles
incorporated at Corporate Affair Commission,
namely; FMBN SPV Issuer Limited, FMBN
SPV Funding Limited and FMBN Mortgage
Trustee Limited. These, it stressed are distinct
entities from the FMBN, maintaining that it
is wrong to say the bond is an FMBN bond.
“Once the FGN Guarantee backing Series 3
is called, Series 2 will become due as provided
by the Trust Deed because it will no longer have
any credit enhancement support,” it added.
The FMBN had argued that it neither
MARKET INDICATOR
sponsored nor guaranteed the transaction,
and as such should not be held responsible
or liable for the bond.
It also stated that principal actors in the
transaction noticed the mismatch, but the then
minister of finance overlooked the lapses.
But THISDAY recently reported that a
directive conveyed through a letter dated
15th May 2015, addressed to the Minister of
Lands and Housing, Mrs. Akon Eyakenyi,
the Coordinating Minister for the Economy/
Minister of Finance, Dr. Ngozi Okonjo-Iweala
had recommended that assets of FMBN be
sold to offset the sum of N24.56 billion, which
matures on 24th May 2015.
The letter read in part; “I wish to recommend
that Mr. President considers directing
the Honourable Minister of Lands, Housing
and Urban Development to direct the FMBN
to raise funds to pay its maturing obligation
of N24.564 billion on May 24, 2015, as it must
forestall imposing a crisis on the economy.”
The minister had also directed that FMBN
should ensure remittance of N4.54 billion
collected on its behalf by Aso Savings and
Loans Limited, adding that the mortgage
bank should immediately recover all the
non-performing loans.
“FMBN should ensure that Aso Savings and
Loans Limited immediately remit the collections
of N4.54 billion which it has failed to remit
to the FMBN. FMBN to immediately recover
all the non-performing loans, including the
use of Foreclosures (where the C of Os’ of the
properties are in the custody of the security
trustees) of the assets of the defaulters, and take
all necessary actions to ensure that the federal
government guarantee does not crystalise.”
The DMO had identified negative carry
(interest rate subsidy), non-performing loans
and non-remittance of collections as major
challenges encountered by the bond transaction.
Nevertheless, the Managing Director of FMBN,
Gimba Ya’u Kumo had in a letter dated 29th
April 2015, addressed to the DMO, had explained
that the bond issuance programme was at
the instance of the federal government. He
had also added that the federal government’s
guarantee that supported the bond transaction
was between the federal government as the
guarantor, and UBA Trustees Limited as the
AKINWUNMI IBRAHIM
Notes Trustees.
“The bond was structured in consultation
with the federal ministry of finance and the
DMO, both the tenor and the interest mismatch
were identified at the time but overlooked by
the then minister of finance.”
Kumo in the letter noted that the guarantee
was irrevocable and unconditional, which
according to him, requires the guarantor
to make good its obligation in the event of
default of shortfall.
Some experts have described current events
surrounding the bond repayment as unfortunate
saying the development might have a dire
consequence on the economy. They also noted
that if the FMBN is made to pay the debt,
it might affect the liquidity of the primary
mortgage finance sub-sector.
A statement quoted the President of Real
Estate Developers Association of Nigeria
(REDAN), Ugo Chime to have urged the
federal government to redeem its guarantee
on the Series 3 Bond and pay the N24.56 billion
to the note holders.
He added: “On this bond issue, we need
to look at some aspects. Where is the money?
Was it injected into the NHF? This money
should have been used as seed fund to assist
the Federal Mortgage Bank of Nigeria (FMBN)
to make houses more affordable.
“I don’t think that at a time when the
government should be thinking of beefing
up the capital base of FMBN it should be
asking the bank to sell off its assets. It is gross
dereliction of duty to the masses. This entire
controversy is a distraction at this moment.
“The federal government should pay the
money that is due in a few days as this date
has not come to them as a surprise. There are
no assets for the FMBN to sell off to be able
to meet the deadline, even if there were how
many days will it take to do so and meet up
with the deadline?”
Chime said the government has used privatisation
to remove safety nets from the common
man and describes the bond controversy as
another attempt to further make the common
man suffer adding, “People are contributing
2.5 per cent to the National Housing Fund
and over 90 per cent of these people cannot
access the NHF loans due to poor funding
by the same government. Government should
live up to its responsibility as far as this bond
issue is concerned.”
The high level of unsatisfied forex demand in
the interbank market has been highlighted as one
of the problems of current level of divergence
between the official and the parallel market forex
rate. Analysts at FSDH Merchant Bank Limited,
which noted this in their economic and financial
market review for April 2015, released at the
weekend, urged the Monetary Policy Committee
(MPC) to address the situation at its May 2015,
which commences today. This, they noted would
allow the value of the naira trade at its equilibrium
level, “which may mean additional depreciation
in the value of the currency.”
The report however showed that there was a
noticeable temporary appreciation in the value
of the naira at the interbank and parallel market
segments of the forex market in April, due to the
declaration and acceptance of the presidential
elections as the palpable fears about a possible
civil disturbance from the acceptance/rejection
of the results was dissipated.
“However, we note that there has been an
increasing divergence between the inter-bank and
parallel markets in recent time, which could fuel
further speculative and rent seeking behaviour
in the foreign exchange market.
“The CBN is most likely uncomfortable with
the increasing divergence and may introduce additional
administrative foreign exchange measures
to achieve convergence in the foreign exchange
rates between the interbank and parallel markets
at its next MPC meeting in May 2015.
“The average exchange rate at the inter-bank
market appreciated marginally by 0.04 per cent
to stand at N199.12/$1 for the month of April
2015, while at the parallel market it appreciated
by 5.96 per cent to N212.78/$1 in April 2015 from
N225.47/$ in March 2015,” it added.
Furthermore, an analysis of the liquidity situation
in the money market and the fixed income
securities market in April showed there was a
net inflow of about N191.35 billion from various
sources, compared with a net outflow of about
N748.7 billion in March.
“The major outflows in April 2015 were the
open market operations (OMO) of about N933.74
billion, the primary Nigerian treasury bills of
about N353.09 billion, the cash reserve requirement
(CRR) debit of about N150 billion and the bond
auction of about N70 billion.
“Meanwhile, in the month of March 2015 the
major outflow from the market was from the
OMO of about N832.80 billion, the primary NTBs
of about N520 billion, the CRR of about N245.20
billion, and the bond auction of about N91 billion.
“The major inflows into the market in April
were the matured OMO and REPO Bills of N671
billion, the bond maturity of about N535 billion,
the NTBs of about N269 billion, and the Federation
Account Allocation Committee injection of about
N223 billion,” it revealed.
CBN Governor, Godwin Emefiele

THISDAY • MONDAY, MAY 18, 2015
Hill+Knowlton Expands
Operations, Appoints Nigerian MD
International communications
consultancy,
Hill+Knowlton Strategies has
expanded its physical footprint
in Africa with the launch of
a new office in Lagos.
It has also appointed Ms
Tokunboh Durosaro as the
Managing Director of Hill+
Knowlton Strategies Nigeria.
She has over 20 years of
experience in public relations,
branding, marketing
and advertising, locally and
internationally.
The Public Relation agency,
builds on its existing strong
presence in sub-Saharan
Africa and further extends
the agency’s ability to serve
its rapidly expanding client
interests in African countries
in a fully integrated way. The
Hill+Knowlton Strategies
global network consists of
Coscharis Technologies, at
the recently held APC MEA
distributors conference in
Budapest, Hungary, was
recognised with the award of
‘Outstanding Performance’ in
West Africa for 2014.
The award, which was
presented to the Coscharis team
during the conference that had
all major distributors of APC in
the region present, was for the
outstanding performance of the
dealership during the 2014 business
year. The award according to
the APC director who presented
the award, is in recognition of
Coscharis Technologies for the
innovation brought into the business
of distribution, outstanding
sales record and maintenance of
the global standard of handling
the APC brand in the Nigerian
market.
Commenting on the award,
the Managing Director of
Coscharis Technologies,
Mr. Sunday Emomine who
dedicated the award to the
some 88 offices, including
key African markets such as
Egypt, Ghana, Kenya, Rwanda,
South Africa, Tanzania, and
Uganda.
Hill+Knowlton’s entry into
Nigeria reflects a recognition
of the vast economic and commercial
potential of the West
African country, which sits
among the top five investment
countries in Africa, and which
has seen a surge in capital
inflows into the market.
Additional streams for
investment have also opened
up, with the establishment
of fledgling economic sectors
in the Nigerian market.
The growth in investment
and funding for domestic
companies, as well as an
increase in Foreign Direct
Investment (FDI) and joint
ventures in the country, has
Coscharis Technologies
Wins APC Awards Again
company’s loyal customers for
their patronage and acceptance
of the brand with a promise to
continually create more value
in the Information Technology
industry in Nigeria.
According to him, ‘’This
award is dedicated to Almighty
God and our numerous customers
who believe in our
relationship with them and
supported us to actualize
our vision of creating value
that is timeless. This award
will definitely gear us up as
a team to further delight our
esteemed customers and the
new prospects to equally come
and share in the experience of
value creation at all times’’.
Coscharis Technology is a
subsidiary of Coscharis Group,
a wholly owned Nigerian Conglomerate
that has reputation
for representing various iconic
brands that cuts across various
business sectors which impacts
positively in the economy of
the nation.
created an attractive platform
for H+K from which to grow
and develop its client base.
“Global businesses with
long-term growth strategies
are focusing on the African
continent,” said Lars Erik,
Chairman and CEO of
Hill+Knowlton Strategies,
Europe, the Middle East and
Africa. “Nigeria has the largest
economy in Africa, as well as
a population of 170 million
people which is expected to
expand to 200 million by
2019. Hill+Knowlton’s presence
in the Nigerian market
will ensure that businesses
have access to full-service
communication strategies,”
he said.
Hill+Knowlton offers a
full suite of communications
services including corporate
communications, marketing
The Managing Director of
Premium Pension Limited,
Mr. Wilson Ideva has won
the latest edition of the ‘Pension
Man of the Year’ Award
organised by Businesstoday
Online.
The Insurance and Pension
Industry Award, the second in
the series was held recently
at Protea Hotel Ikeja, Lagos.
Receiving the award,Ideva
stated: “ I feel highly elated
at this honour, especially
because it comes from the
media” , the media is an
integral stakeholder in the
pension industry and share in
the successes recorded in the
industry in the past decade.”
According to Ideva, the
media played a prominent
role in the dissipation of
the initial skepticism that
beclouded the Contributory
Pension Scheme at its inception
in Nigeria.
He urged media practitioners
to continue to work
communications, internal
communications, sports
marketing and sponsorship,
digital communications, issues
and crisis consultancy and
public affairs.
Prior to joining
Hill+Knowlton, Durosaro spent
14 years at the integrated energy
group, Oando Plc, where
she was a member of the
Group Leadership Council. In
the course of her 14 year stint
with Oando Plc she was Head
of Corporate Communications
and successfully developed
a comprehensive re-branding
strategy for the smooth execution
of Unipetrol and Agip
re-branding to Oando Plc,
and later became the Chief
Corporate Services Officer.
In 2011, she was responsible
for establishing the Oando
Foundation.
NEW OFFERINGS FROM SAMSUNG
L-R: Head, Consumer Electronics, Mr Parikshit Chandna; Director, Consumer Electronics, Mr. Sunil Kumar; Head of Channel, Consumer
Electronics, Mr. Chukwuma Ofoma and, Business Development Manager, Home Appliances, Mr. Jae Hak Lee, all of Samsung Electronics West
Africa during the media briefing on Samsung AC Technical Forum/launch of Samsung Digital Variable Multi Super system AC and smart inverter
air conditioners in Lagos...recently.
Premium Pension Boss
Wins Award
in tandem with industry
operators if the gains recorded
are to be sustained and the
industry moved to the next
level.”
He dedicated the award
to the entire team, staff,
management and board of
Premium Pension Limited
describing them as the real
award winners.
Speaking at the ceremony,
the Managing Director/CEO
of Businesstoday Online
Nkechi Naeche said the
award, which started a year
ago with the recognition of
two individuals and one
underwriting firm in the
insurance industry has
come to stay. According to
her, efforts were made to
improve the quality and
credibility of the award this
year by involving the public,
agents, brokers, clients and
associates by giving them the
opportunity to select those to
be honoured through votes.
31
APPOINTMENT / AWARDS
Fidson’s MD Wins
2014 Top 25 CEO
Awards
Managing Director, Fidson
Healthcare Plc, Dr Fidelis
Ayebae has emerged one of
the top Chief Executive Officers
of listed companies in
Nigeria at this year’s edition
of BusinessDay Top 25 CEO
Awards for 2014 Financial
Year.
The Fidson boss had earlier
emerged winner of the
2013 edition of the awards,
following his company’s
performance in the capital
market and contributions
to the country’s economy.
Fidson enjoys a reputation
of consistent profit record
and value delivery to its
shareholders and investors.
Its recent revenue growth
and 300 per cent Profit after
Tax (PAT) in 2014 financial
year lend credence to its
growth sustainability. It
may be recalled that in 2013,
the company announced
its full year results with a
turnover increase from N7.2b
to N9.2billion, representing
29 per cent growth
The year on year growth
recorded by Fidson Healthcare
Plc in the last 8 years
has won the company several
awards both locally and
internationally, including
the previous edition of the
BusinessDay Top 25 CEO,
Top 100 Nigerian Companies
and the Nigerian Healthcare
Excellence Awards (NHEA).
The company which prides
itself as a leading player in
the Nigerian pharmaceutical
industry, attributes these
awards to its passion for
excellence, as demonstrated
The Director General,
National Broadcasting Commission,
Mr. Emeka Mba, will
on Wednesday, May 20th,
2015, in Lagos, be decorated
with the Copyright Medal
of Honour. The decoration
will take place at the 5th
Anniversary Celebration of
the approval of Copyright
Society of Nigeria (COSON),
the nation’s sole collective
management organisation for
musical works and sound
recordings.
According to the Chairman
COSON, Mr. Tony Okoroji,
Mba was unanimously chosen
by the COSON Board because
of the historic role played
by him and the Commission
in resolving the over four
decades of raging dispute
between the music and
broadcasting industries in
Nigeria over the payment
of music copyright royalties.
The Copyright Medal
of Honour is the highest
recognition of the music
in its myriad of quality
brands and value offerings.
The managing director
thanked BusinessDay and
organisers of this event for
his recognition. “We believe
this is an acknowledgment of
our commitment to adding
value to the lives of Nigerians
through the provision
of quality healthcare solutions.
As a company, we are
motivated to up our ante
and continue to deliver on
these promises, he said.”
The Top 25 CEO Awards
ceremony is an event organised
by the BusinessDay
Research and Intelligence
Unit that focuses on the
Chief Executives Officers
of companies listed on the
Nigerian Stock Exchange
(NSE), who aroused positive
interests in the Nigerian
capital market, as well as
share price appreciation.
According to the organisers
of the event, the Top 25 CEOs
Awards is meant to appreciate
the contributions of the
25 CEOs who contributed
the most to the growth
of the capital market in a
particular financial year. The
capital market, which is at
the centre of the event plays
a strategic role in economic
development as it provides
the medium for channeling
long term funds into productive
sector of the economy.
Winners of the awards are
selected from over 200 listed
companies on the NSE after
they have successfully met
the criteria set up by the
Awards Committee.
COSON Honours
NBC Boss
industry for any individual
in acknowledgement of that
person’s significant contribution
to the promotion and
defence of the rights of
creative people in Nigeria.
Others to be honoured
include Miliki King, Evangelist
(Dr) Ebenezer Obey
Fabiyi, one time Chairman
of the Nigerian Copyright
Commission (NCC) and also
Chairman of the Nigerian
Association of Recording
Industries (NARI). The name
of the multiple music award
winner, 2 Face Idibia, will
also be entered into the Roll
of Honour. Also on the list
of those to be honoured is
Sasakosa exponent, Prof (Sir)
Victor Uwaifo.
The presentation to Mba
of the Copyright Medal of
Honour will be witnessed
by top names in the music,
movies and broadcasting
industries across Nigeria
at the Lagos Airport Hotel,
Ikeja.

32
BUSINESSWORLD
THISDAY • MONDAY, MAY 18, 2015
INTERVIEW
Sanni: Organisations Need Cost-effective
Solutions for Business Growth
Managing Director, Oracle Nigeria, Adebayo Sanni, spoke with Emma Okonji
on the role of technology solutions in the digital age and the need for organisations
to adopt relevant solutions that will reduce operational costs and drive revenue
growth. Excerpts:
Technology has become the game changer
in the 21st century, what should organisations
do to leverage on relevant technology
solutions in order to catch up with the new
technology trend?
Organisations have a lot to do in adopting
relevant technology solutions for business
growth in the digital age, but the onus is on
Chief Financial Officers (CFOs) and Chief
Information Officers (CIOs) that have to justify
every money spent on business expansion.
The role CFOs has evolved in today’s digital
age, compared to the past years, when their
responsibilities were tied to book keeping. But
in today’s digital age, all that have changed
because the CFO is now at the forefront
of innovation that is driving disruptive
technology. In today’s digital age, technology
plays a critical role in helping CFOs achieve
their new responsibilities of providing and
sporting organistions in such a way that
organisations become more competitive, and
exploring new areas of business. But this is
a task that cannot be achieved by the CFOs
alone, without collaboration with technology
solution company like Oracle. Again, the
roles CFOs and CIOs appear competitive
and demanding and they need collaboration
to succeed, and promote relevant growth in
the organisation.
How exactly will technology help CFOs
and CIOs in their operational tasks?
Technology has a lot to play in the roles of
CFOs and CIOs and I can conveniently say
that financial institutions are already taking
advantage of the opportunities. In Nigeria,
for instance, a lot of banks are beginning
to see the need for big data gathering and
analysis, using technology tools. It helps
them to take informed decisions on how to
move the organisation forward. Data analysis
also helps the organisation to understand
customer behaviour better and know how
best to handle their customers.
What sectors of the Nigerian economy
do you think are benefitting from the use
of technology in this digital age?
For me, I will rank the telecommunications
sector as the most evolving with the use of
technology in driving their business. The truth
of the matter is that technology is driving
every aspect growth in organisations and
these organisations must follow the new
trend in the technology space or risk chances
of going under. So they either innovate or
go into extinction. Another sector that is
using technology to innovate, is the banking
sector, followed by the manufacturing and
distribution sector, and the public sector
as well.
What role will Oracle play to help CFOs
and CIOs accomplish their new tasks?
What is important for the CFOs is that there
is need for acquisition of new talent and skills
in the 21st century. They need to understand
the fundamentals and foundation that will
drive their organisations. The soft skills is
what is important for them to understand
the beauty of technology, and their ability
to analyse data. So based on this, Oracle has
developed several solutions that can help
them read, analyse and implement certain
things that will help them take informed
decision that will drive faster development
in their organisations.
We have solutions like cloud and big data
solutions, and the CFOs and CIOs need to
use these solutions to address current challenges
in their organisations. For example,
Sanni
Facebook, WhatsApp, Twitter, are popular
social media platforms, that do not create
content. They only provide the platform
for people to create their own content and
upload on the platform. So technology solution
company like Oracle is developing solutions
that could best be used to create contents.
The same is applicable to CFOs and CIOs.
We are developing the solutions for them to
leverage their business in today’s digital age.
What security measures has Oracle put in
place to protect organisations’ data, while
deploying Oracle solutions?
Data protection from hacking is an ongoing
process. Our solutions are secured, even
though hackers are always out there to
break security codes and gain unathorised
access to organisations’ data. Our cloud
solution for instance, addresses a whole
lot of security issues.
What is the value for CFOs and CIOs
in embracing new technology solution?
Companies that have adopted technology
solutions have so much to benefit. With the use
of technology, they are able to take informed
decision. They are able to understand the
technology trend, they are able to understand
their customer better and they are able to
analyse data and grow faster in terms of
development. Again, investors are looking
for such companies or start-ups that have
embraced technology, to invest in. New
technology research reveals that companies
that have developed their business models
to leverage technology, are making 80 per
cent more profit than those that have not.
In the area of streamlining enterprises and
innovation drive, we have come to realise
that it is only the organisations who do
this, by using technology solutions, are
experiencing huge cost reduction in their
operations by as much as 36 per cent. So
it helps to drive revenue growth, reduce
cost of running businesses and helps make
organisations to drive innovation and remain
competitive .
What technology model do you recommend
for organisations that focus on driving
innovation in the digital age?
Firstly, they need to understand data
analytics and understand the power of
analysing data with technology solutions.
There is need for re-orientation of staff in
the use of modern technology solutions. To
achieve this, Oracle is currently involved
in teaching new technology curriculum
in tertiary institutions, and this will help
organisations hire the right people with the
requisite skills.
How will technology help organisations
to address financial losses, especially in
the financial sector?
As technology is evolving, the hackers
are also coming up with new ways to break
security codes and steal from organisations.
There is need for training and retraining of
staff. Organisations must grow with technology
change and invest continuously in new
solutions that address financial fraud.
Another sector that is
using technology to
innovate is the banking
sector, followed by the
manufacturing and
distribution sector, and
the public sector as well
CONTINUED NEXT 34

THISDAY MONDAY MAY 18, 2015 33

34
THISDAY • MONDAY, MAY 18, 2015
INTERVIEW
SANNI: ORGANISATIONS NEED COST-EFFECTIVE SOLUTIONS FOR BUSINESS GROWTH
Are companies in Nigeria actually adopting
the cloud computing technology?
Adopting cloud computing is inevitable
for organisations because it is the future for
every organisation. Over time, companies
realise the need to reduce their operational
expenditure (OPEX), based on their capital
expenditure (CAPEX) and this can be achieved
through available technology solutions, and
cloud computing offers such solution. In
fact, cloud computing is one of the five
disruptive solutions in the technology space
and organisations are beginning to adopt
the technology.
Our conversation with customers today
is centred on cloud computing and majority
of them are beginning adopt it. With
cloud computing, we offer our customers
the opportunity of not only allowing their
data to sit in their organisational premises,
but also the opportunity where their data
sits on the Oracle cloud and we manage
their data from the Oracle cloud. So I still
emphasise that cloud is the future and that
is where Oracle is going and that is where
customers are also going.
It is a gradual movement anyway, but we
are helping our customers and partnering
them in developing a roadmap that will
eventually lead them safely to the cloud.
How will you describe the growth of
Enterprise Resource Planning (ERP) in
Nigeria?
Oracle is doing well in the enterprise space
and we are aware that most companies also
play in the enterprise space, using ERP. But
be that as it may, Oracle does not only play
in the enterprise space, as we are also looking
at the Small and Medium Enterprise (SME)
space, and developing solution that they can
afford and utilise. We have ERP in the cloud
and in everywhere, addressing challenges
of big and small organisations. With ERP,
there are lots of scalability that helps to
reduce cost of operations because it is built
on pay-as-yo-go.
As we are driving the ERP, are looking at
market penetration, as well as market share.
One of the biggest Oracle story today is the
ability of Oracle to offer the customer, an
end-end solution, right from application to
Sanni
infrastructure and storage, using ERP, and
that is the value that Oracle is bringing to
the table today, ahead of competition.
Oracle has been in Nigeria for close to
10 years, doing business. How has Oracle
added value to the Nigerian business and
the economy?
Yes, Oracle has been in business in Nigeria
for about 10 years now, but Oracle took
the decision to invest heavily in Africa
two years ago, and since then, there has
been significant investments by Oracle in
the Nigerian technology space. Oracle is
investing in Africa, specifically in Nigeria
and Kenya. We have invested in people,
including staff members, we have invested
in facility and infrastructure and we have
opened our offices in Lagos and Abuja. In
the area of partnership, we are partnering
state governments in the area of staff training,
and we are looking at replicating same at
the federal government level, especially so
that Nigeria will be having a new government
from May 29 this year. We are also
building capacities, by training start-ups
and helping them to develop their ideas
in software development that will address
real societal issues. In the area of education,
Oracle is currently teaching new courses
in Java at some Nigerian Universities and
Polytechnics.
With cloud computing,
we offer our customers
the opportunity of not
only allowing their
data to sit in their
organisational premises,
but also the opportunity
where their data sits on
the Oracle cloud and we
manage their data from
the Oracle cloud
Since Oracle has been partnering state
governments, how has Oracle solution
helped governments in addressing financial
leakages in different ministries?
Oracle, like I earlier said, is partnering
government in different ways. In the area
of blocking financial leakages, our solution
is helping various governments to address
financial losses. For instance, the payroll of the
federal government is sitting on the Oracle
solution, and that has helped government to
to reduce a lot of fraud in the system and
has saved the federal government, billions
of naira, and has also helped in eliminating
ghost workers from the system.
In all of these, what percentage of local
content is Oracle deploying with its
solutions?
Oracle strongly believes in local content
development and our technology suite have
local contents. Our technology partners
have been able to develop Oracle skills and
have over the time, been able to deploy the
skills locally to fit into the local needs of
the people. In addressing technology skills
shortage in Nigeria, some of our partners
have developed Oracle skills, which they
are using to drive businesses locally and
some of them are even exporting the skills
outside Nigeria. We have several home grown
companies that are using Oracle skills to
drive businesses locally.
Infinity Trust Mortgage Bank
Posts N125m Profit
CHESTRAD Plans to Spread
Nigeria’s GDP Growth
Dele Ogbodo
in Abuja
The Chairman, board of
directors of Infinity Trust
Mortgage Bank(ITMB), Dr.
Yinka Bibilari, has stated
that the company made a
totalprofit of N125 million in
its 2014 business operations
which ended December 31.
The gross profit according
to him, translates to cash
dividend of 3kper share for
its shareholders whose names
appears in the books of its
Registrars.
The chairman made the
declaration during the
company’s Annual General
Meeting (AGM), which held
week end in Abuja. By this,
he added that the bank has
again declared a dividend of
3 Kobo for the second year
running as a listed company.
The bank’s 2014 financial
report showed that its gross
earnings rose from N584.3
million in 2013 to N742.99
million in 2014, representing
an increase of 27 percent.
Similarly, its profit after tax
rose from N188.79 million
in 2013 to N244.73 million in
2014 representing a 30 percent
increase.
The company also reported
an increase in earnings per
share by 30 per cent to 5.87
k 2014 from 4.53 k in 2013.
Also the year under review
saw the bank commencing
operations in Lagos with the
establishment ofits Lagos
regional office. This, it said
is in line with its national
mortgage bank status as
recently rated by the Central
Bank of Nigeria (CBN) and
strategic organic growth.
In a remark, the bank’s
Managing Director, Mr. Olabanjo
Obaleye, said the bank
intends to increase its branch
network to major cities in the
country with a view to tapping
into the huge mortgage bank
sector potentials. He added
that there is a huge market
for housing development and
mortgage lending in Nigeria
despite the economic and legal
constraints.
He was optimistic that
the future outlook will see
the bank’s presence across
major cities in Nigeria with
good returns on investment
and positive impact on home
ownership growth in Nigeria.
He revealed that there are
ongoing plans to increase the
bank’s capital by N10 billion.
He said the bank will continue
to drive it business thorough
quality service, innovative
product offering with dedicated
and motivated staff as
well as robust Information and
Communication Technology
(ICT) platform.
According to him, Infinity
Tust mortgage bank maintained
a rating status of short
term A3 and long term BB+
(NG); positive outlook by
Global Credit Ratings (GCR)
for the third successive time
(2012, 2013 and 2014).
A shareholder, Pastor Williams
Adebayo commended
the bank for declaring 3 kobo
dividend despite the operating
harsh condition and also for
creating employment opportunities
for those it employed
in the operating year.
He urged the bank to
tap into the huge window
of financial opportunity of
the Nigerian Mortgage Refinancing
Company (NMRC),
to source for long time loan
at a reduced interest rate.
Eromosele Abiodun
As the deadline for the
millennium development
goals draw closer with
many Nigerians left out of
the reported gross domestic
product(GDP) the Centre
for Health Sciences Training,
Research and Development
(CHESTRAD) International
has announced plans to create
a platform for crowed funding
social development that will
ensure that Nigerians have
access to basic amenities.
CHESTRAD is a global
non-state, not-for-profit social
enterprise established in 1992.
It is registered in Nigeria as
a corporation limited by
Guarantee and is tax-exempt.
In a chat with newsmen in
Lagos, President, CHESTRAD
International, Dr. Oluwafunmilola
Dare, said the initiative
tagged, ‘I Will Give,’ is platform
for organised private giving in
support of social development
and key activities in education,
health, youth development and
women’s empowerment to take
advantage of these resources
and development.
The initiative, she added,
will provide a platform for
private and corporate giving
that has the potential for longterm
impact on development
financing in 21st century Africa.
“It is a platform for crowed
funding social development.
Nigeria has witnessed growth
in the middle class and GDP
but the growth in the economy
and GDP is not trickling dawn.
So we decided to develop
a platform to tap into the
pocket of the rich and create
a domestic financing platform.
We will invite subscriptions
from African middle class,
high net worth individuals,
corporations and public sector
where necessary.
“We will put these resources
together to invest in social
development. It is a combination
of crowed funding and
high impact investment for the
purpose of bridging the gap
between economic and social
development by providing access
to services for the poor,”
Dare said.
CHESTRAD, she added has
been involved in development
for more than 30 years stressing
that it work through the various
stages of development.
She added, “We are in different
phases of development now,
this phase says MDGs ends in
September, it is a reality so we
are crafting a new phase of
development plan. At the time
we are doing this, there are
also economic realities around
the world.
“Our traditional development
partners have their GDP
dropping and are in recession
while we in Africa has seen its
GDP growing and the economy
booming. So the place to be
now is Africa. What we are
going to see is the overseas
development assistance is
going to drop. When this
happens it is going to leave
a lot of gap behind in terms of
where we get money to fund
developmental projects, fund
projects that our development
partners used to do.
“So in the last two years
we have been strategizing
and looking at how we can
bridge the gap in sustainability,
transition and development
continuum. The key question
is how we can transition Africa
from a donor dependent, aid
dependent to a self-reliant
community with its growing
middle class. This is one of the
reasons we are embarking on
this effort.”

THISDAY • MONDAY, MAY 18, 2015
BUSINESSWORLD
Shareholders Hail Nigerian Breweries
for Paying N37.2bn Dividend
Goddy Egene
Shareholders of Nigeria
Breweries Plc last week
commended the company for
its performance in the 2014
financial year and the payment
of N37.205 billion in dividends
for the year.
The shareholders, who spoke
at the company’s 69th annual
general meeting (AGM) in
Lagos, hailed the company’s
management, especially for the
recommendation of a total
dividend of N37.205 billion
, the biggest cash payout in
the history of the company.
The amount translates into
N4.75 per ordinary share of
fifty kobo each.
Speaking at the AGM, Chairman
of Nigerian Breweries,
Chief Kola Jamodu, said the
company had earlier paid an
interim dividend of N9.453
billion, representing N1.25
per ordinary share in October
2014 before a final dividend
of N27.752 billion (N3.50 per
PZ Cussons Nigeria Plc
has signed a Memorandum
of Understanding (MoU)
with the National Office for
Technology Acquisition and
Promotion (NOTAP) to boost
research and technology in
Nigeria.
PZ in a statement issued
to THISDAY said under
the terms of the MoU, the
company has agreed to fund
the upgrade of the chemical
laboratories in two Nigerian
Universities and one Research
Institute while NOTAP will
coordinate the project.
The benefiting institutions
include University of Calabar,
Modibo Adama University
of Technology, Yola and the
National Research Institute for
Chemical Technology, Zaria.
According to the company,
the intervention is borne
share) that was paid to all
shareholders whose names
appear on the company’s
register of members at the
close of business on March
4, 2014.
The ended 2014 with a profit
before tax of N61.4 billion and a
profit after tax of N42.5 billion.
According to Jamodu, the
company was able to return
creditable results for the year
in spite of the challenging
business environment, due
in part to its cost leadership
and innovation agenda.
He explained that synergies
from the recently concluded
merger between the legacy
Nigerian Breweries Plc and
Consolidated Breweries Plc
have positioned the enlarged
company to deliver improved
returns on investments for all
stakeholders of the company.
The Managing Director of Nigerian
Breweries, Mr. Nicolaas
Vervelde had recently assured
stakeholders the company had
been positioned for sustained
out of its concern to fill the
infrastructural gap in Nigeria’s
institutions, pointing out that
the intervention is to assist
the institutions acquire and
install state-of-the-art equipment
to facilitate the conduct
of robust research activities
that will produce high calibre
Research & Development
(R&D) personnel.
Director General, NOTAP,
Dr Umar Bindir, advised that
Nigeria can only develop if
the bulk of research findings
and papers lying in the nation’s
research centres are
put to use in solving our
problems.
He noted that it is
through such partnerships
that Nigeria will be able to
‘transform knowledge into
socio-economic solutions
and assets that will bring
growth and deliver more
returns for its shareholders,
following the successful merger
with Consolidated Breweries
Plc.
According to him, postmerger
Nigerian Breweries will
be able to meet the demands
of a changing Nigerian beer
market, deliver significant cost
and revenue synergies and gain
access to new markets with
broader product offerings,
among other things
Stressing that the company
remained committed to cost
leadership and outperforming
the market, he said through
the elimination of duplication
in its operations and the use
of one management and one
office, and other efforts, the
company would remain true
to its strategies and values.
Stressing that the company
remained committed to cost
leadership and outperforming
the market, he said through
the elimination of duplication
in its operations and the use
about sustained national
development.’
Under the partnership
agreement, PZ Cussons
funding will focus on R&D
activities, development of
Ph.D. holders that will be
part of the institutions’
scholarship pool and forging
viable research projects for
students.
He commended PZ Cussons
for blazing the trail and called
on other companies to emulate
the kind gesture.
In his response on behalf
of the beneficiaries, the Vice
Chancellor, Modibbo Adama
University of Technology, Yola,
Professor Kyari Mohammed
expressed his happiness with
industry/academia collaboration.
He assured the company
that the resources to be
of one management and one
office, and other efforts, the
company would remain true
to its strategies and values.
He explained that the
company embarked on cost
reduction strategies such
as logistic cost and cost of
raw materials to reduce the
impact of unfriendly operating
environment on its operational
performance.
On the company’s outlook
for the year, Vervelde, who
said the economic challenges
of 2014 had persisted into the
first quarter of 2015, said he
was confident that the year
would be positive for the
company.
Nigerian Breweries recorded
a revenue of N266.37 billion
compared with N268.61 billion
achieved in the corresponding
period of 2013. Profit before
dropped to N61.46 billion from
N62.24 billion posted in 2013,
while profit after tax stood at
N42.52 billion against N43.08
billion in 2013.
LUCKY WINNERS
L-R; Omotayo Ogunnaike from Lagoon Secondary school,Lagos; Fatimah Aliyu Gebi of the International Community School, Abuja; Minister of
Communications Technology, Dr Omobola Johnson; and Praise Sanni Adeniyi of the International School Lagos during the presentation of prizes
to winners of an ICT Innovation Competition tagged “’My ICT innovation” to commemorate the international Girls in ICT Day 2015 in Abuja in
Abuja...recently
PZ Cussons, NOTAP Sign MoU to
Boost Research, Technology
expended on the upgrade
will be judiciously applied
and put to utmost use.
The signing ceremony,
which took place at PZ
Cusson’s Head Office, was
attended by management
of the company led by the
Chief Executive Officer, Mr.
Christos Giannopoulos and
representatives of the other
two institutions and other
directors of NOTAP.
PZ Cussons Nigeria PLC
has been in the business of
household goods manufacturing
and at the forefront
of promoting scholarship
in chemical sciences. The
company is the sponsor
of the annual PZ Cussons
Chemistry Challenge that
seeks to promote learning
of Chemistry in secondary
schools.
Chinedu Eze
In furtherance of its commitment
to the development of
education in Nigeria, Sterling
Bank Plc in partnership with
Caleb Group of Schools has
concluded plan to hold the
second edition of the parenting
workshop under the bank’s
‘One Education’ initiative. The
workshop is aimed at educating
parents and guardians on how
to nurture their children and
bring out the best in them.
The event will hold in Lagos
on May 23, 2015. The theme of
the workshop is ‘Enhancing your
child’s capacity for learning’.
The bank in a statement
signed by its Group Head,
Strategy and Communications,
Mr. Shina Atilola described the
parenting series as a family
growth and education initiative
designed to support parents’
desire to optimise the potential
and talents of their children.
He noted that the purpose of
the workshop is to aid parents
and guardians in dealing with
topical issues that affect the
upbringing and training of
their wards in the 21st century
vis-à-vis the practical day-to-day
realities of life in Nigeria.
The bank’s chief strategist
said the involvement of the
3 5
NEWS
African Aviation Experts
Canvass Two Big Airlines
for Nigeria
For its large population
and increasing passenger
traffic, aviation experts who
attended the recent African
Aviation Summit 2015 in
Johannesburg, South Africa,
have proposed that Nigeria
should establish two strong
carriers that could compete
with international airlines
if the country must benefit
from its growing number of
air travellers.
Over four million Nigerian
travel overseas annually and
projections indicate that in few
years this number may increase
to eight million. However, over
94 per cent of these travellers
are airlifted by international
carriers that do not contribute
in any way to the development
of aviation in Nigeria.
Partner, Ernst and Young,
Ethiopia, Mr. Zemedeneh
Negatu said Nigeria must
have to establish at least one
strong national flag carrier
and enforce the merger of
some of the existing ones
in order to have two strong
airlines with high capacity to
meet the growing number of
air travellers and to become
competitive in the international
air transport market.
Negatu recalled that the
defunct Virgin Nigeria, which
the federal government had
an input in was established to
become a very strong Nigeria
carrier but the objective was not
realised because the structuring
of the airline was wrong.
He said that Nigeria should
learn a lesson from that and
now a new administration was
set to take over government,
it would be reasonable for the
country to have two or three
multibillion dollar airlines.
“We don’t expect the Nigerian
government to run those
airlines, but Nigeria deserves to
have at least one national flag
carrier, then support should
be given to Arik and Aero to
become very large carriers
to support Africa’s biggest
economy.
“Somebody with core
competence should be engaged
to manage the airline. Nigeria
should follow the style of the
Asian tigers, but government
must play stronger roles by
deploying funds for the
development of the industry
and also give support to the
establishment of the airlines”,
Negatu said.
But the Legal Advisor, African
Civil Aviation Commission
(AFCAC), Sam Gaya said that
Nigeria could only succeed in
establishing a successful carrier
if government is transparent
and has zero-tolerance to
corruption and impunity,
noting that these elements
brought about the collapse of
the defunct Nigeria Airlines
Limited (NAL) and to some
extent Virgin Nigeria Airways.
“There must be openness,
there must be transparency,
it must follow the Ethiopian
model whereby government
official that needs the service
of the airline will pay for it
in advance. There should be
no interferences,” Gaya said.
The CEO of African Aviation
Services Limited and former
Secretary-General of African
Airlines Association (AFRAA),
Nick Fadugba, said Nigerian
needs a minimum of two major
carriers, adding that Nigerian
airlines must cultivate the habit
of paying their bills on time,
adding that they should pay
for the services rendered by
the aviation agencies, pay the
lessors that leased them aircraft
and others.
Sterling Bank Partners Group
bank in the second edition of
the workshop was informed by
the overwhelming turn-out of
parents who attended the first
edition, adding that the bank will
continue to invest in initiatives
that add value to the lives of
people in line with its purpose.
“The level of attendance
by the parents at the first
workshop exceeded our
projection. The workshop was
well attended by both parents
(fathers and mothers) with their
children. This shows the value
parents place on the workshop
and the need to bring up their
children in a worthy manner,
not only to themselves but
the family and the country
at large. Their contributions
are noteworthy,” he added.
Speaking on the bank’s
involvement in the education
sector, Atilola who assured of
Sterling Bank’s continuos investment
in initiatives aimed at
supporting the sector, added
that the private sector must
come in and invest in the
education sector if “we really
want our children to get quality
education. Sterling Bank’s
intervention in the sector will
help to ameliorate some of the
challenges the sector faces”.

36
MONDAY MAY 18, 2015 THISDAY THISDAY MONDAY MAY 18, 2015
37
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38
BUSINESSWORLD
BPE: Concessioning of Warri Port
B is in Order
John Iwori
Shareholders The Bureau of
Public Enterprises (BPE) has
said the concessioning of the
Warri old port terminal B is on
course, declaring the process
was in order.
According to BPE, the
exercise is being carried out
by the National Council on
Privatisation (NCP).
A statement issued in Abuja
and signed by BPE, Head,
Public Communications, Mr.
Alex Okoh said there was no
truth in the petition written by
a group, which styled itself as
NPA Warri Port Stakeholders
Forum. In the petition, which
was addressed to President
Goodluck Jonathan, the group
said the ongoing concession of
the Warri Old Port Terminal ‘B’
was illegal, even as it alleged
the bureau was working with
the Nigerian Ports Authority
(NPA), Federal Ministry of
Transport (FMoT) and office of
the Vice President to concession
the terminal to ‘their cronies’.
However, BPE said: “Terminal
B was one of the 24
Terminals concessioned by
the BPE in 2006 to Associated
Marine Services (AMS). At the
time of the concession, the
Eromosele Abiodun
The Securities and Exchange
Commission (SEC), apex
regulator of the Nigerian
capital market, is organising
an hour – long lectures on
Investment / Financial / Capital
Market education in the “2015
Batch A Orientation Camps”
of the National Youth Service
Corps (NYSC) in 31 states of
the federation including the
FCT Abuja.
The series, christened “Opportunities
in the Nigerian
Capital Market” will hold
simultaneously in NYSC
orientation camps across the
Terminal was in bad shape and
therefore, it was not possible
for the concessionaire (AMS)
to operate it.
“As a result, AMS was
relocated to Terminal ‘A’ Warri
New Port. During that period,
Terminal ‘B’ Old Port underwent
partial rehabilitation with the
construction of a modern quay
wall/Apron. Thus, on the
recommendation of the NPA
and FMoT, the NCP approved
the re-concession of the partially
rehabilitated Terminal.
“BPE as the implementing
agency of the privatisation
programme of the Federal Government
of Nigeria commenced
the process with placement of
advertisements requesting for
Expressions Of Interest (EOIs)
from interested Bidders in
some selected national dailies,
namely Daily Trust, Guardian,
THISDAY, and Financial Times
on June, 23, 2014.
“The closing date for the
submission of EOIs was indeed
extended by two weeks from
July 22, to August 7, 2014 and
was advertised. After the two
weeks extension, 13 EOIs were
harvested.
“It must be noted that the
‘petitioners’ did not respond to
the adverts which ran for six
country on Thursday,May 21,
2015.
The SEC in a statement said
the exercise is in furtherance
of the market development
critical mandate of the SEC
and is aimed at raising the
bar of capital market awareness
among the vital public that are
members of the NYSC.
The series reflects the strong
emphasis placed on investor
education by the current
leadership of the SEC which
is mirrored in a recent statement
by the DG of the SEC,
Mounir Gwarzo that, “Investor
education will constitute the
fulcrum of the SEC’s market
weeks. Rather they wrote on
September 10, 2014, well after
the adverts had closed and
EOIs harvested, requesting for
inclusion of a company- VINOT
Integrated Services Limited as
part of the bidders.
Continuing, the bureau
said: “BPE responded via a
letter dated November 28,
2014 explaining that it was
impossible to include VINOT
as part of the bidders after the
closure of the advert as doing
so would violate the bidding
process which we the Bureau
had always adopted in line with
international best practices.
“However the BPE advised
that VINOT should await
the next stage in the process
which is the Request for
Proposal (RFP).At this stage,
it is permissible for prequalified
bidders to modify their small
consortium membership and
admit other partners. VINOT
was advised to approach and
negotiate to join any of the
prequalified consortia.
“We wish to further clarify
that NPA is listed in the BPE
Act of 1999 as amended and
therefore NCP/BPE has the full
powers to handle and conclude
the transaction. We also wish to
state that NCP directed the BPE
SEC Takes Investor Education to NYSC
Orientation Camps
development effort.”
According to the commission,
“Thirty one largely middle
level staff of the SEC will
be deployed from the Abuja
corporate headquarters of the
Commission to carry out the
hour - long investment / financial
education / capital market
awareness programme. They
will be complimented by staff
of the SEC who are located in
the Commission’s zonal offices
in different geopolitical zones
of the country.”
SEC explains that the lecture
series is in line with an existing
capital market awareness partnership
between the commission
to handle all enterprises listed
in its Act and NPA is one. BPE,
NPA and FMOT, the supervising
ministry, have the responsibility
to undertake the concession.”
Meanwhile, seven companies
have qualified for Warri
port terminal concessioning
The firms were selected out
of the 13 bidders for expressions
of interest.
Accordingly, they have
been invited as prequalified
prospective concessionaires by
the National Council of Privitisation
(NCP) through the BPE.
The Head of Communication,
Bureau of Public Enterprises,
Mr. Chigbo Anichebe, made
this known in a statement
made available to THISDAY.
It said the seven prequalified
bodies that successfully met
the 70 per cent mark from the
evaluation for the terminal
should be issued with the
request for proposals.
According to the statement,
those who succeed in the bidding
exercise include Transnet
Rosehill Group, Marine
Infrastructure Consortium,
Bright Ocean Integrated Service,
Neon Adani Ports Consortium,
Solent Stevedores International,
Ecomarine Consortium and
Global Infrastructure.
NESG MEETING
L-R: Immediate past Chairman, Nigeria Economic Summit Group (NESG), Foluso Phillips; Chief Executive Officer, Laoye Jayeola; and
Chairman, Kyari Bukar, at the 2014 annual general meeting of NESG in Lagos.... recently
and NYSC on which basis the
Corps extended an invitation
to its ‘2015 Batch A Orientation
Camps’ to the SEC.
“The central theme of the
exercise which is ‘Opportunities
in the Nigerian Capital Market’
will devolve into topics and
subthemes such as The Investor
Protection Role of the SEC in
the Nigerian Capital Market;
Products and Services in the
Capital Market; Advantages of
Collective Investment Schemes
as Investment Vehicles; How to
identify Investment Fraudsters
/ Scammers / Ponzi Schemes;
and Job Opportunities in the
Capital Market,” SEC said.
Nume Ekeghe
Accion Microfinance Bank
Limited said it recorded 60
per cent growth in its 2014
financial year, compared to the
previous year. Also shareholders
of the bank unanimously
endorsed a 10kobo dividend
per share payout declared by
the directors.
These were disclosed at the
bank’s annual general meeting
held in Lagos at the weekend.
The Chairman of Accion
Microfinance Bank, Mr. Patrick
Akinwuntan, while speaking
on the achievements of the
bank in the year under review
said: “In this environment,
Accion Microfinance Bank’s
key performance indicators
remained positive and
commendable as our active
borrowers grew by 58 per
cent from 21,654 in 2013 to
34,245 in December 2014. Our
accounts base increased by 19
per cent from 123,076 to 146,
578 accounts in 2014 while
number of savers grew by 36
per cent from 63,845 in 2013
to 86,655 in December 2014.”
On major achievements
of the bank, he said: “The
bank made a profit after tax
of N622.555 million at the
end of 2014 representing a
60 per cent growth compared
to the same period in 2013.
Shareholders’ funds grew to
N2.6 billion in 2014 from N2
billion in 2013 representing a
27 per cent. growth.
“Compared to December
2013, our total loan portfolio
grew by 3I per cent from
Emma Okonji
Samsung Electronics West
Africa recently launched
the World’s largest capacity
Digital Variable Multi (DVM)
system and smart inverter air
conditioners at forum tagged
‘The Samsung Air-condition
forum’ in Lagos.
The initiative was aimed at
boosting the local industry’s
knowledge of the various
Samsung cooling solutions
available in the Nigerian
market. The forum attracted
about 180 attendees.
Speaking at the forum,
Managing Director, Samsung
Electronics West Africa, Mr.
Brovo Kim, said the Aircondition
(AC) technology
and solutions are evolving at
a rapid rate. The forum, he
stated would bring Samsung
partners up to speed on the
company’s air conditioners,
in Room air conditioner
and System air conditioner
segment.
“We want to keep our
stakeholders abreast of the level
of market research that goes
into designing and producing
Samsung air conditioners and
cooling solutions, which are
especially suitable for Africa
and the Nigerian climate. The
ultimate goal is to provide
dependable cooling to keep
consumers comfortable at all
THISDAY • MONDAY, MAY 18, 2015
NEWS
Accion MFB Records 60%
Growth, Shareholders
Approve 10k Dividend
N3.018 billion in 2013 to N4.028
billion in December 2014. Total
loans disbursed grew by 26
per cent from N7.4 billion in
2013 to N10.3 billion in 2014,
with total loans disbursed from
inception to date closing at
N31.7 billion at the end of
December 2014.”
On Future outlook he said
the bank would commence on
its 5-year Strategic Plan 2015-
2019 to expand geographically
in Nigeria with a variety of
retail channels whilst improving
operational efficiency through
technology.
He added: “With our national
license, we are set to explore
establishment of far reaching
financial inclusion programmes
for micro-entrepreneurs and
low income earners, not just
in Lagos, but in at least 10
States of the Federation and
Abuja. We have identified Port
Harcourt in Rivers State as an
initial location for the establishment
of our first branch outside
of Lagos State and recruitment
in currently ongoing to staff
that branch. It is our intention
that within five years Accion
Microfinance Bank will have
established not only additional
branches but growing its retail
service channels through cash
centres, agents and ATMs and
PoS machines.”
Also speaking at the AGM,
the Managing Director, Accion
Bank, Mrs.Bunmi Lawson
exolained that at the end of
2014, Accion Microfinance Bank
increased its operational branch
network from 19 in 2013 to 23
in Lagos State.
Samsung Launches DVM,
Smart Inverter AC
times,” Kim added.
The highlight of the
forum was the introduction
of Samsung “DVM Super”
system AC, which has the
world’s first and largest single
capacity outdoor of 26HP. It is
credited as the next-generation
modular system in the world of
high-efficiency air conditioning
and has undoubtedly changed
the face of cooling associated
with high-storied buildings.
Samsung has also launched
air conditioners with a five
year warranty on compressors,
keeping in mind the energy
conservation and eco friendly
standards being set in the air
conditioning environment.
These air conditioners come
equipped with R410A gas,
which is, eco-friendly and
Smart Inverter compressors
capable of reducing energy
consumption up to 40 per cent
in line with global standards.
The air conditioners can handle
up to 50mtrs in piping length as
against the conventional 10mtrs.
Samsung air conditioners will
also have a 5 year warranty
period on compressors.
Also speaking at the forum,
Director, Consumer Electronics,
Samsung Electronics West
Africa, Mr. Sunil Kumar, said
Nigerians are astute customers
who are always on the lookout
for the best that advancements
in technology can offer.

THISDAY • MONDAY, MAY 18, 2015
BUSINESSWORLD
39
NEWS
Oracle, MTN Set to Bridge ICT Skills Gap in Nigeria
Emma Okonji
Having identified shortfalls
in skills acquisition in the
area of Information and.
Communications Technology
(ICT) in Nigeria as a threat to
national development, Oracle
Corporation, a technology
solution company and MTN
Foundation (MTNF), the
corporate social investment
vehicle of MTN Nigeria, have
come up with a joint initiative
that will bridge ICT skills gap
in Nigeria.
Both multinational companies
have collaborated to give further
ICT training to select MTNF
scholars. The collaboration
will see two projects come to
fruition: a bursary funded by
Oracle for one student to attend
the European Organisation for
Nuclear Research (CERN)
openlab Summer School in
Switzerland, and plans to train
MTN Invests N11bn
in Projects in
10 Years
MTN Foundation (MTNF),
the Corporate Social Responsibility
vehicle of MTN Nigeria,
has revealed that it invested
N11 billion in 341 project sites
across the six geopolitical
zones of the country in the
past 10 years.
On this note the MTN
Foundation is celebrating
a decade of touching lives
through its hugely impactful
social investments in education,
health, and economic
empowerment. Founded on
the 11th of May, 2005, the
Foundation is funded by up
to one per cent profit after
tax from MTN Nigeria and
has become the leading driver
of social investments.
Chairman, MTN Foundation,
Ambassador Hamzat
Ahmadu, noted that the
successes, which have been
recorded in the last 10 years,
were based on the foundation’s
ability to leverage
on the power of local and
international partners who
were able to bring relevant
knowledge and experience
to the table, to create and
execute sustainable projects
across the country.
“The giant strides made
by the foundation and the
remarkable transformation of
lives seen through the gains
of our various initiatives in
the area of health, education
and economic empowerment
are an eloquent testimony of
how well we have been able
to demonstrate our commitment
to enriching lives and
adding value to the lives of
the citizenry,” Ahmadu said.
Corporate Services Executive
of MTN and Director of
the Foundation, Mr. Wale
Goodluck, expressed delight
at the giant strides made in
the past decade, adding that
corporate social responsibility
is at the core of MTN’s
organisational philosophy.
“We are excited that our
mission to improve the quality
of life in communities
all over the country has
yielded great dividends as
evidenced by the positive
impact our initiatives have
had in helping to reduce
poverty as well as foster
sustainable development in
Nigeria,” Goodluck added.
He pledged that the foundation
would not relent in
its efforts, adding that the
foundation would continue
to seek creative ways to support
and add value to lives
in many more communities.
MTNF educational initiatives
has seen it provide
digital libraries and Information
and Communications
Technology (ICT) laboratories
to universities and secondary
schools, respectively,
across the country while
empowering others with
scholarships in music and
science and technology. Under
its healthcare portfolio, it has
provided mammography
and dialysis machines to
public hospitals across the
country as well as its trailblazing
eyesight restoration
intervention where a lot of
persons have benefited from
free cataract surgeries, eye
glasses and drug packs. Under
its economic empowerment
portfolio, MTNF has carried
out and supported a wide
range of activities designed
to enable job provision, skills
acquisition among other various
stakeholder groups such
as the disabled, widows and
visually impaired students.
In recognition of its positive
contributions, MTNF has
received numerous awards,
including the 3rd CSR Nigeria
Industry Award: Innovative
Partnership Award for Outstanding
Work in Corporate
Social Responsibility and
Creating “Shared Value”;
Advertising Association of
Nigeria (ADVAN) Awards;
Best Corporate Social Responsibility
Company and Sickle
Cell Foundation of Nigeria;
Special Appreciation Award
in recognition of MTNF work
and Support for Sickle Cell
Foundation of Nigeria, among
many others.
up to 2,000 MTNF scholars in
database design and SQL and
Java programming skills.
MTN, in collaboration with
its partner, prepared some select
students from across Nigerian
tertiary institutions to participate
in a global academic competition,
organised yearly by CERN
openlab, where a computer
science student, Mufutau
Akuruyejo, from the University
of Lagos, emerged the best
student from Africa and one
of the best 25 students globally
that have been selected for a
nine week training programme
on ICT in Switzerland.
Akuruyejo, an MTNF scholar,
will be the first Nigerian student
to participate in the nine week
programme, which CERN
openlab runs annually, and
he will be funded by Oracle.
CERN openlab was created
more than 10 years ago to tackle
computing, data, and infrastructure
challenges, and summer
school also focuses certain
research and development
activities in the ICT space.
Corporate Services Executive,
MTN Nigeria, Mr. Akinwale
Goodluck, said: “At MTN, we
believe that education is pivotal
to the growth of any nation,
which is why we are delighted
with this collaboration that will
see Mufutau Akuruyejo, an
MTN Foundation scholar, leave
for Switzerland to participate in
the nine-week CERN openlab
programme.”
Head of CERN openlab,
Alberto Di Meglio, said: “Our
highly competitive student
programme is a cornerstone
of CERN openlab, with the
students bringing new ideas.
This year, we received over
1,500 applications from all over
the globe and have selected
students of the highest possible
caliber. We are very excited to
AGDC, Lagos Govt to Empower 1,100
Entrepreneurs
Emma Okonji
The Afterschool Graduate
Development Centre, a Lagos
based trainer on entrepreneurial
skills, in collaboration with the
Lagos State Government, will
be training 1,100 Nigerian
university graduates on various
entrepreneurial skills.
They will be trained on how
to develop business models
and how to write business
proposals. They will also be
empowered with a start-up
seed fund of N100, 000 each,
that will enable them begin and
further expand their business
plans in the next one year.
Director, AGDC, Mrs. Funmi
Adeyemi, said the training
and empowerment became
be welcoming them to CERN
very soon.”
Country Manager, Oracle
Nigeria, Mr. Adebayo Sanni,
said there was need for Nigeria
to bridge the identified ICT
skills gap in the country and
that the support from Oracle
in funding Akuruyejo to Switzerland
for ICT training, would
assist Nigeria in bridging ICT
skills gap in the country. He
said Oracle has been involved in
several partnerships with state
governments to further drive
technology development across
the country.
The second initiative focuses
on teaching database design and
SQL and Java programming
skills to MTN Foundation
Scholars, using Oracle Academy
curriculum and hosted on-line
learning materials. Students
will be taught by two Oracle
Academy trained faculty from
the Ajayi Crowther University
necessary to help government
address the unemployment
challenge in the country.
According to her, AGDC has
been involved in training of
Nigerian graduates in various
entrepreneurial skills, with
a passion to promote skills
development in the country.
According to her, AGDC
has created a customised and
scalable business execution
curriculum for this year’s
training programme called
Inginte Ideas entrepreneurs,
and has established a fellowship
network, through
Linkedin, a social media
platform. It has also recruited
volunteer business experts to
provide sorcialised mentorship
for targeted demographics
industries and business stages.
and Aived International who
have attended and passed the
formal Oracle Academy faculty
training courses.
Commenting on the Oracle
Academy programme, Goodluck
said it would help to
further boost the ICT skills in
beneficiaries and avail them
of valuable opportunities after
completing the database design
and SQL and Java programming
courses.
According to Sanni, “With the
rapid adoption of technology
in Nigeria, it is imperative that
students are equipped with the
right skills to take advantage
of career and entrepreneurial
opportunities.”
We support the country’s
efforts to undertake a digital
transformation to help secure its
place as a leader in the global
economy, he added.
The MTNF Scholarship
Scheme covers tuition, books
and pocket allowance. It is
renewable provided recipients
maintain a minimum of 3.5
Cumulative Grade Point Average
(CGPA) in their course of
study and an overall 2.5 CGPA.
In 2012, the scholarship was
extended to visually impaired
students in public tertiary
schools across the country
who meet the requirements.
“Corporate social responsibility
is at the core of MTN’s
organizational philosophy and
in a few months, the Foundation
will be celebrating giant
strides it has made in the past
decade. We are excited that
our mission to improve the
quality of life in communities
all over the country has yielded
great dividends as evidenced
by the positive impact our
initiatives have had in helping
to reduce poverty as well as
foster sustainable development
in Nigeria,” Goodluck added.
SET FOR CARD EXPO
L-R: Head, e-banking, Heritage Bank, Mr. Ejike Obianua; Head, Corporate Communication, Nigeria Inter-Bank Settlement System (NIBSS),
Mrs. Lilian Phido; Head, Training, NIBSS, Mr. Tunde Akinwa; General Manager, Intermarc Consulting, Ms. Lilian Ekwedike; and Head, Cards,
Diamond Bank Plc, Mr. Joakhin Iloemezue at a press briefing to announce the CBN Cashless Card Expo 2015 in Lagos...recently
PHOTO: AKINWUNMI IBRAHIM
Adeyemi explained that
AGDC advertised online and
received and received a total
of 2,490 applications, out of
which, 1,121 were completed
applications. The applicants
were screened and 541 were
selected for the first batch
of training and mentorship.
The number of women-owned
businesses that applied, was
284, Adeyemi said, adding that
the business ideas, range from
Technology, Media services,
Art, Fashion and Design, Fast
Moving Consumer Goods,
Agriculture and Farming,
among others.
Commending the AGDC
for the initiative, Lagos State
Governor, Babatunde Fashola,
encouraged the trainees to
make better use of the opportunity
given to them through the
AGDC mentorship programme
and to also make better use of
the seed funds made available
to them. The governor, who
said the older generation had
erroneous belief that university
graduates were not meant to
do dirty jobs, said in today’s
world, the money spinning
businesses are from dirty
jobs. Fashola who categorised
farming as dirty job, said young
university graduates could go
into farming and make the best
out of it, if adequate training
and mentorship are provided.
He encouraged young school
leavers to come up with business
ideas that will not only
fetch them good money, but
will also make them employers
of labour.

40
THISDAY • MONDAY, MAY 18, 2015
NEWS
US-Africa Trade to Promote AGOA
Holds in September
Emma Okonji
Motivated by the need to
help Nigerians stay in touch
with new opportunities
through the internet, MTN
Nigeria, is offering its over
61 million customers with
full month of free downloads
for all Nigerian apps under
the auspices of a movement,
tagged APPtitude.
Its intention is to help Nigerians
embrace mobile applications
as a shortcut to navigating the
internet in an easy, faster and
more efficient manner.
The APPtitude campaign,
which runs from May 1 - 30,
2015, offers Nigerians the
chance to download their
favourite apps for free by
texting APP to 131.
According to MTN, “The
world is changing faster
than we ever imagined some
decades ago. The increased
penetration of technology
NaviGroup Incorporated, a
provider of international trade
networking has said the second
United States Export-Import
Opportunities for African
Consumable Products 2015
Trade Show, which has been
scheduled to hold from
September 8 to 9, 2015, in
Baltimore, Maryland, United
States.
The event is designed to promote
business between Africa
and the Americas through the
AGOA, U.S. Department of
Commerce policies and to
attract foreign direct investors
through Bureau of the African
Affairs policy.
During the 2013, U.S.
Export-Import Opportunities
for African Consumable
Products Trade Show organised
by NaviGroup Incorporated
in Baltimore, the Maryland
Governor, Martin O’Malley,
maintained that doing business
with Nigeria and entire
Africa was very important
to the United States-Africa
community and the United
States-Africa trade, which he
said had grown to $21 billion
in the last decade.
“Therefore we want to
keep up the pace of that by
providing a platform for small
and medium scale businesses,
government trade agencies
and important Small Medium
Enterprises to participate in
the 2nd U.S. Export-Import
Opportunities for African
Consumable Products 2015
event,” said Event Specialist,
NaviGroup, Ayotunde
Adebayo.
According to him, “the
event will provide you with
up-to-date market intelligence
and assist you to develop
international trading practice
strategies for exporting your
products and services into
across the globe especially
through mobile phone has
changed the way we live and
work. Like never before the
adoption of mobile phones
has enhanced in many ways,
economic and social activity
on the continent of Africa
and Nigeria in particular. It
is for this reasons that MTN
introduced the ‘APPtitude’
initiative, as a recent study
shows that 90 per cent of access
to the internet in Nigeria is
done via mobile devices.”
As part of the benefits of the
movement, an APPtitude portal
has been created on the MTN
website, which curates a host of
local apps in the market under
different categories that include
sports, entertainment, lifestyle,
health/fitness, business as well
as religion. The apps can be
downloaded by everyone, free
of charge for 30 days.
Announcing the initiative,
Chief Marketing Officer, MTN
new markets around the
globe. You will also have
the opportunity to meeting
directly with buyers and
sellers from Central America,
Canada, South America,
Europe and the Middle East.”
The event will feature
international business leaders
from private sectors, African
countries commercial services
diplomats posted at their
embassies in the United
States and high ranking
government officials from
both continents.
Professional and wellexperienced
trade finance,
banks, African Union member
countries, trade promotion
organisations, buyers and
sellers, equipment manufacturers,
customs, agricultural
and food products processors,
distributors, wholesalers,
retailers, agricultural and
products. Quality assurance
Nigeria, Bayo Adekanmbi said
many Nigeria-centric websites
are complex with hard-toremember
web addresses, also
known as URLs. He added
that apps provide a better, and
alternative way of engaging
users, irrespective of social
class as their functionality is
defined by the user’s ability to
interact with icons and images.
“This movement is a continuation
of the BetterMe journey
and its core aim is to democratize
access to the internet. The
APPtitude movement is borne
out of the need to educate our
customers on the value which
can be derived from making
use of mobile application in
their everyday business. We
are also driven by the vision
to build an ecosystem that
allows people to pursue their
different passions and interests
by leveraging on the simplicity
which mobile apps provide,”
Adekanmbi said.
organisations are expected to
inform participants about
the latest and future developments
that will impact
where-and how-to develop
new business opportunities
and export strategies abroad.
This event will also provide
unlimited opportunities to
network with industry experts
in international business,
government officials and
other international buyers
and sellers.
Adebayo noted: “By
bringing on international
investors who have forged
successful partnerships in
NaviGroup and showcasing
their personal experiences
and accomplishments, we
are confident and able to
offer attendees excellent and
thorough understanding of
the opportunities available to
develop their business in the
global marketplace.”
RENDERING ACCOUNT
L-R; Chairman, Custodian and Allied Plc, Chief Michael Ade-Ojo; Directors, Mr. Wole Oshin; and Mr Toni Ogunbor, during the 20th annual
general meeting of the company in Lagos.. recently
MTN Provides Free Downloads of all
Nigerian Apps to Customers
In addition, MTN promises
to support app developers,
associations and SMEs in
converting their websites to
mobile applications while
bearing the cost of maintaining
and hosting the apps. As
such local app developers are
encouraged to submit their
apps on the APPtitude portal
even as MTN is committed
to promoting these apps by
providing them with visibility
and reach to its 61 million
subscribers. App developers
who want to upload their apps
on the portal should visit,
http://cp.nexva.com/r/mtn
and follow the steps.
MTN’s commitment to
providing solutions through
the development of mobile
apps is well chronicled. In 2013,
it launched the NextApps store
to boost the aggregation of local
content and later organised an app
developer challenge to support
app development in the country.
Pazino ECC Promises to
Transform Real Estate
Sector
Lagos-based Real Estate
and Engineering Firm, Pazino
Engineering & Construction
Company Limited has said it
is on a mission to transform
Nigeria’s real estate sector to
world class standard by adding
new styles and dimension to
what is currently in existence
in the sector.
Managing Director of Pazino
ECC Ltd, Mr. Patrick Agbaza,
who dropped the hint in Lagos,
said Pazino ECC is set to bring
awareness and transform life
in the areas of construction
and engineering in the real
estate sector by adding facilities
like Aviaries, Play areas, Parks
for both children and adults,
Manicured gardens, Lawns and
landscape areas with sheltered
seating areas.
According to Agbaza, the
practice of real estate business
has transformed tremendously
from what it used to be and
there is need to take advantage
of developments on the global
stage. “At Pazino ECC, we
intend to take real estate from
what it used to be to the next
level in terms of construction
and building type. For instance
we have a lot of estates scheme
we are developing along the
Lekki Epe Express Way which
we prefer to call “Garden
Schemes”. We call them
gardens because our plan is
to build homes surrounded by
greeneries, which we believe
guarantees longevity of the life
span of people living in this
kind of environment.
BlackBerry Limited, a
global leader in mobile communications,
and T-Mobile US
Incorporated, America’s fastest
growing wireless company,
have announced a joint plan
to bring the BlackBerry Classic
to the Un-carrier’s Data Strong
network and its approximately
57 million individual and
business customers.
The initiative, which has
been applauded by industry
analysts, shows that the two
companies are in the business
of listening to their customers,
through the new partnership.
This new partnership begins
by bringing to get her the
productivity and security of
the BlackBerry Classic and
T-Mobile’s industry-rattling
Un-carrier for Business
initiative. Now, whether
you are downloading tomorrow’s
big presentation
or video conferencing with
colleagues on Skype, only
the Un-carrier serves up
the BlackBerry Classic on
America’s fastest nationwide
4G LTE network—giving
US business customers and
today’s data-hungry mobile
professionals the wireless
experience they have been
asking for.
President and CEO of
T-Mobile, John Legere, said:
“People who love BlackBerry
Our garden schemes will
also feature perimeter fencing,
drainages among other things.
All these features we’ve added
will make more people embrace
living in estates” he said.
He said Pazino is determined
to make people understand
why they should invest in real
estate because there are huge
potential for better return on
investment in real estate.
He said: “Other than real
estate, what will you want to
invest in? We want people to
come and invest in real estate.
Some years ago it used to be
shares and all of that, but
with the collapse of shares,
the momentum has swung
back to real estate.
“As a matter of fact, since
2009/2010, the Nigerian real
estate sector has witnessed
resurgence particularly in the
southern part of the country.
According to a report by
Augusto & Co, “real estate
activities in Lagos accounts
for at least 40% of the sum
total of Nigeria’s real estate
market”. Therefore, it pays to
know that the Lekki Peninsula
corridor where we have our
Garden Schemes is the fastest
rising real estate in Africa,”
He lamented that government
has not created the
enabling environment for the
real estate business to thrive.
According to him, government
only pays lip service to the
development of the sector. He
also added that the banks have
not really helped the sector too.
BlackBerry, T-Mobile Team
Up to Bring BlackBerry
Classic
smart phones and want to
use one on America’s fastest
nationwide 4G LTE network
now have that choice. Bringing
BlackBerry into our device lineup
now also stokes Un-carrier
9.0, which is all about bringing
the Un-carrier revolution to
business.”
BlackBerry Executive Chairman
and CEO, John Chen,
said: “BlackBerry is proud to
partner T-Mobile once again to
offer the world’s most secure
and reliable mobile products
and services that encourage
productivity−whether they
are individual users making
the most of their day with
the BlackBerry Classic, or an
enterprise seeking to manage
thousands of devices.”
According to him, “Together
with T-Mobile, we hope to
deliver highly differentiated
solutions that appeal to our
mutual users: the power
professionals who depend
on their smart phones to get
things done and make things
happen.”
The BlackBerry Classic
is built to meet the needs
of productive people who
appreciate the speed and
accuracy that can be found
with a physical QWERTY
keyboard and features such
as a fast browser and up to
22 hours of battery power.

THISDAY • MONDAY, MAY 18, 2015 41
BUSINESSWORLD
NEWS
‘Digital Training key to Active
Participation of Girls in ICT’
Emma Okonji
Phase3 Telecom, an
independent fibre optic
infrastructure and telecommunications
services provider
across West Africa, is advocating
for early education and
consistent technology training
for the girl child in order to
sustain them and make them
active in the Information and
Communications Technology
(ICT) space.
As part of the process to
achieve this, Phase3 said it is
collaborating with eBusiness
Life Communications to mark
the 2015 edition of the globally
celebrated International Girls
in ICT Day.
The Girls in ICT initiative
of the International Telecommunication
Union (ITU), is a
global effort to raise awareness
on empowering and encouraging
girls and young women to
consider studies and careers
in ICTs.
To date over 111,000 girls
and young women have taken
a part in more than 3,500
events held in 140 countries
around the world.
In commemoration of the
2015 Girls in ICT, themed
“Expanding Horizons and
Changing Attitudes”, the
Chief Executive Officer of
Phase3 Telecom, Mr. Stanley
Jegede said early education,
digitalized training as well as
developing technology skills
for women and harnessing
those skills promptly, are
critical to Africa’s rapid socioeconomic
development and
sustainability.
According to him, “One of
the key elements of addressing
poverty is the empowerment
of women and there is no
better way of doing that
than ensuring the sustained
representation of women in
the world of technology to
aid rapid socio-economic
development in Africa”.
He said building a crop of
young African girls to actively
participate and compete in the
evolving as well as innovative
global ICT space, is the basis
for Phase3 Telecom’s commitment
to continue to support
the International Girls in ICT
day initiative.
Jegede said he is optimistic
that this global evolution will
gain greater influence in Africa
as more and more institutions
and agencies advocate ICT skills
for women on the continent. He
believes that “young African
girls must be encouraged early
to see the advantages and
dividends of the dynamic and
fast-evolving-sector”.
He commends eBusiness
Life commitment to the initiative
year-on-year to mentor
and support girls who have
keen interest in walking the
ICT career path whether in
engineering, design, operations
or research. It is notable that
in West Africa, women are
significantly under-represented
across the board in ICT sector,
from education and training
programs right through to
high level careers both in the
academia or industry.
Managing Director of eBusiness
Life Communication, Mrs.
Ufuoma Emuophedaro, said:
“The need to sensitize young
girls is premised on the fact
that society has unconsciously
promoted the stereotypical
ideals that technical discipline
especially ICT based careers
are best suited for the male
gender.”
Glo Bounce Rate
Excites Youths
There are strong indications
that Nigerian youths and student
communities are excited
with Globacom’s repackaged
special tariff plan for youths,
called the Glo Bounce.
They are currently latching
on to the offer, which allows
subscribers to make calls at
a very affordable rate of 11
kobo per second.
In addition to the low call
rate of 11 kobo per second, Glo
Bounce has other interesting
features including “Campus
Zone”, which enables subscribers
to call other lines also at
the rate of 11 kobo per second
once activated.
Subscribers on the platform
also get 15MB of data free for
every recharge of N200 and
above, as well as unlimited,
free SMS.
Globacom’s Regional Chief
Marketing Officer, Mr. Ashok
Israni, said the features have
already endeared Glo Bounce to
the hearts of trend-setting young
individuals in schools and those in
formal or informal employment.
To get on the Bounce
platform, Israni explained
that subscribers would be
required to dial *170*4#. To
opt for Campus Zone, they
are to dial *170*9#.
Hafsat Adejumo, a 200 level
student of University of Ibadan,
said although she has another
line, she uses the Glo line more
these days.
“Since the re-launch of Glo
Bounce last month, I have used
my Glo line nearly exclusively
because of the affordable rate.
My twin sister and younger
brother are all in this school
and we are all on Glo Bounce,
making it possible for us to
communicate with each other
at the cool rate of 11 kobo per
second,” she said.
Similarly, Haruna Ismail, a
400-level student of Bayero
University, Kano, commended
Globacom for introducing
the special tariff package for
Nigerian youths.
“My fiancée and I have used
Glo lines for many years now,
but I didn’t know about Glo
Bounce until she convinced me
to sign up for it so we could
communicate in a more costeffective
manner. I did and I
must say it has been a wise
move. Beside my fiancé, there
are other friends who are also
on the platform. So effectively,
I have been able to reduce my
phone bill.
On his part, Brimo Jack, a
25-year-old, Port Harcourtbased
teacher said he loves
the Generation G component
of the initiative.
“Since I joined the Generation
G, I have enjoyed 200
percent bonus airtime on
every recharge of N500 and
above. Whenever I load N200,
I get 100 percent bonus; and
50 percent bonus when I load
N100. The icing on the cake
is that I can use the bonus to
call any network. This is one
initiative that has helped me to
rein in my phone expenditure.
Kudos to Globacom,” he said.
Also in the same vein,
Chinwe Okechukwu, a final
year Law undergraduate
student of the University of
Nigeria, Nsukka described Glo
Bounce as a well conceived
initiative that is helping to
reduce the phone cost of
young Nigerians in tertiary
institutions.
“I appreciate the free 15MB
of data that Glo gives free of
charge for every recharge of
N200 and above once you are
on the Bounce platform. It’s
enough for me to keep in touch
with my people on Whatsapp,”
she said.
IRWA CONFERENCE
L-R : New Chapter President, International Right of Way Association (IRWA), Mr Eze Odigbo; First Vice President, Mr Charles Ebiai; and New
Secretary, Mrs Akobundu Ken,at the association’s Educational Conference and installatan of new officers in Abuja...recently
Magic Mirror, a New Outdoor Platform
Debuts
A new vista has been opened
in the Nigerian out-of-home
advertising industry with
the introduction of Magic
Mirror advertising option by
Soundz&Meknitz Limited.
The magic mirror, one of the
world’s latest OOH advertising
technologies, is believed to be a
unique innovation in the entire
Sub-Saharan Africa.
Classed under the emerging
media and below the line/indoor
advertising category, it works by
interfacing a specially designed
mirror with an inbuilt LCD video
and audio programme that also
doubles as a viewing mirror.
The TVC is seen playing on the
mirror, with an inbuilt sensor
that squeezes the advert message
to a corner on approach of a
user to present a full mirror and
returns after use.
Speaking on the new innovation,
Managing Director
of Soundz&Meknitz Limited,
Mr Felix Ugbechie said already
his company has been granted
exclusive permit to install the
next generation advertising
technology in all the rest rooms
on all the airport lounges in
Nigeria, a factor he is sure will
give maximum value to Nigerian
advertisers.
Ugbechie said the advertising
medium is unique because it
offers the advertiser the opportunity
to have something
close to personal conversations
with individuals who come in
contact with it.
“The mirror, as simple as it
is, is a very important tool for
managing personal relationships.
We must always go
to the mirror to appreciate
ourselves and determine if we
are looking good enough for
that all important meeting. It
is a personal tool that enables
us to have a conversation with
ourselves before we go out to
meet other people. What we are
doing is take this conversation
even further by enabling brands
to talk to their targets in their
most intimate periods. This is
a period when conversations
are best appreciated and ensure
long lasting retention,” he stated.
Ugbechie explained that the
Magic Mirror advertising has the
distinguishing capability to pass
the message to the personally
and without interruptions and
also overcomes the challenges
of no tune out, trashing or
flipping pages that have been
the disadvantages of electronic
and print media advertising in
recent time.
“The Magic Mirror is like a
welcome companion to the often
disconcerting privacy of the rest
rooms. That is why we say it
holds personal conversations
because advertisers have the
privilege of talking to individuals
in this secluded privacy and
be able to arrest their attention
throughout their stay. This is an
advantage no other form and
medium of advertising can
offer. And it can offer access to
a specific gender pin downs of
messaging with 100% accuracy.
For instance, female toilets
can be loaded with messages
speaking to the female market
and vice versa thereby giving
accurate traffic and exposure
measurement.”
He added that the new
medium is capable of also offers
high brand visibility, with an
estimated average 5,000,000 to
5,500,000 views per month, a
coverage no other medium can
match at same cost.
“The Magic Mirror is the
best channel to help you reach
your marketing priority areas
or audience.It offers a high
definition video and audio
resonance in a casual and
relaxed atmosphere. It offers a
welcome alternative to looking
at a blank wall. Advertisers are
also afforded the opportunity
to put their advert in desired
marketing priority areas at
high traffic time at any of the
locations especially in Public
Private Places.
Mouka’s ‘Mattress Swap’
Campaign Intensifies
Foam manufacturers, Mouka
Limited, has re-introduced the
‘Mattress swap’ campaign to
enable its numerous esteemed
customers and patrons of
other brands alike to exchange
their old mattress for a new
Mouka mattress at an incredible
discount.
The campaign offer, which
kicked off last week and is
expected to run for a period
of one month would be available
to customers in key states
across the country.
According to the National
Business Manager, Mouka
Limited, Mr. Olufemi Asa,
the initiative, which was
first introduced in 2013 was
designed to further entrench
the brands affinity with both
customers and non-customers
by helping them to renew sleep
and comfort.
He said: “As the category
thought leader in the foam
industry in Nigeria and West
Africa as a whole, we started
the initiative to encourage
customers to replace their
old mattress by bringing their
old mattress to get a new one
thereby helping them to renew
the unparalleled comfort offering
of Mouka.”
Fapohunda explained that
there is the need for customers
to change their mattress after
every 4 year which is the Average
life span of a mattress but
many customers are constrained
with the burden of how to
dispose the old mattresses
hence, the Mouka offer.
He stated further that the
initiative gives the customers
the opportunity to own a new
and comfortable mattress at
a discounted price while also
contributing to the environment
by helping customers to dispose
their old mattress which will
be recycled.
Also speaking on the campaign,
the Marketing Manager
of the company, Mr. Olusegun
Ajala noted that the offer is
not limited to brand only as
customers can trade in any
brand of mattress for a new
super comfort Mouka Mattress
of their choice.
He explained that the old
mattress would be weighed
to ascertain the value and
the customers will be given
the discount, which would be
deducted from the value of
any Mouka products of choice.

42
THISDAY • MONDAY, MAY 18, 2015
PRCAN Joins Global
Communication Fold
The Public Relations Consultants
Association (PRCAN),
the umbrella body of PR
consultancy firms operating
in Nigeria, has been admitted
into membership of the
International Communications
Consultancy Organisation
(ICCO).
PRCAN’s admission was
announced by the ICCO Chief
Executive, Francis Ingham, at
the organisation’s bi-annual
Board of Management meeting
which held in Vienna, Austria
recently.
Following PRCAN’s inclusion,
the PRCAN President,
Mr. John Ehiguese, was also
appointed to the board of
management of the organization,
for a maximum tenure
of four years.
With this appointment,
he joins 30 other members
in ICCO’s highest decisionmaking
authority.
Ehiguese said: “I am very
excited at this development,
because it means that Nigerian
PR has finally joined the global
mainstream. ICCO is the largest
global PR body, representing
over 2,000 consultancy firms
from 31 countries. It is heavily
involved in training, events,
industry updates, CMS and
Global reports, areas in which
I believe PRCAN members will
benefit tremendously.
“With my admission to the
Board of ICCO we also now
have a voice on the world
stage. I intend, not only to
be a worthy ambassador of
Nigerian PR practice, but to
also encourage our members to
participate fully in the activities
of ICCO, so that we can bring
ourselves up to speed with
NEWS
current global best practice,
enabling us to attain higher
professional standards and
deliver more value to the
clients we work for”.
ICCO is the voice of PR
consultancies around the
world. Its membership
comprises national trade
associations in 31 countries
across the globe: from Europe,
Africa, Asia, the Americas and
Australasia. Collectively, these
associations represent over
2,000 firms.
It provides a forum for
senior management of the
world’s best PR consultancies
to meet and address issues of
mutual interest and concern.
Members work together to raise
standards of quality, address
ethical issues, harmonize professional
consultancy practice
and share knowledge.
Access Bank Restates Support for
UNICEF Projects
The Executive Director,
Personal Banking, Access
Bank, Mr. Victor Etuokwu, has
restated the bank’s support for
UNICEF projects in Nigeria.
Etuokwu stated this last
week in Lagos while speaking
on the 2015 edition of the
Access Bank-UNICEF Charity
Shield Polo tournament that is
scheduled to hold in Kangimi
Resort, Kaduna, from May 20
to May 31, 2015.
The biggest charity polo
event in Africa will this year,
feature 15 teams vying for
honours in three categories.
He said the bank had
maintained its yearly donation
of N10 million in supporting
UNICEF towards its projects
for orphans and vulnerable
children.
In addition to that, the bank
is continually seeking avenues
through which more resources
can be pooled towards supporting
the children
He said: “We have been
working in Kaduna, in collaboration
with UNICEF to
elevate quality of lives. We
Owners of Diageo Brands,
have introduced a new variant
of Smirnoff, called Smirnoff Ice
Double Black with Guarana.
To create glamour around the
new vodka drink, guests were
welcomed to an unconventional
venue for a party- a thriving
auto workshop turned into a
party venue.
According to the manufacturers,
Smirnoff Ice Guarana
combines refreshing and invigorating
taste of Smirnoff
Vodka blended with Soda
and extracts of Guarana. They
further stated that it joins the
existing Smirnoff family of
Smirnoff Vodka and Smirnoff
Ice Red.
Unveiling the brand, the
Head of Marketing, Spirits
and RTD, Liz Ashdown, said
Guinness Nigeria is driven by
need to do a lot more in
support of these orphans and
vulnerable children to enable
them take tomorrow. We are
hoping to get more children
needing support for instance,
children orphaned by HIV/
AIDS - especially the girl
child into schools” says Jean
Gough, UNICEF Representative
in Nigeria. We have no
doubt created the space for
a lot of them to enjoy their
rights to education through this
partnership, but we aim to seek
more community participation
to achieve greater results,” he
said.
According to him, the Access
Bank-UNICEF Charity Shield
Polo tournament, which is in
its eighth year of Access Bank
sponsorship, is a reaffirmation
of the importance of the lives
of the orphaned and vulnerable
children in northern Nigeria.
Speaking on the tournament,
Fifth Chukker Polo
Captain,Babangida Hassan
said they are proud to continue
in its development of this
established partnership with
innovation and the company
is committed to launching
products that meet more of
their consumers’ needs and
occasions.
“Smirnoff Ice Guarana has
been produced to satisfy the
quest of our younger consumers,
who are of the legal
drinking age and want to make
less obvious choices because
that’s what makes their nights
better and more memorable.
The refreshing taste of this new
Smirnoff variant is the outcome
of an extensive research that
resulted in the right blend
of the best ingredients” Liz
Ashdown said.
Regarding the possibilities of
the new variant putting sales
pressure on the existing variants,
Ashdown explained that “we
have provided consumers with
Access Bank and UNICEF.
He listed the participating
teams to include Deebee Farms,
Akasma, Titans, Trappco
Liberty, Fas Agro Sacks and,
Meridian teams.
Others teams seeking to
win a major prize at this
year’s Access Bank UNICEF
Charity Shield tournament
are Susplan, Maigari Farms,
Sublime, Sultana, Huawei ,
Max Air, Keffi Ponys, Lintex-
Titans and title holders, Fifth
Chukker Access Bank team.
Campaigns for the most
prestigious prize, the Access
Bank Cup and the low-goal
UNICEF Cup promises to be an
exciting experience with Deebee
Farms and Akasma clashing
in a potentiallyexplosive game
of the tournament.
The Access Bank Cup and
the Argentine Ambassador’s
Cup final are scheduled for
May 24, while the Charity
Shield grand finale with the
defending champions, Fifth
Chukker Access Bank aiming
for a fourth straight victory, is
scheduled for May 31.
Diageo Introduces New Variant of
Smirnoff
greater choice and with a drink
that is more relevant for higher
tempo occasions than many
other offerings in the market”.
“The #doubleside idea is the
celebration of an alternative
side of life –be that of places
doubling as something more
epic or oneself that is more
expressive and open to new
experiences. The double
side party brought this to
life through the unexpected
performances and location – an
auto workshop doubling as a
party venue at night” Ashdown
further clarified.
According to the Smirnoff
team, a series of consumer
activities across major cities
have been lined up for the
product launch starting
from July through December
2015.

46
THISDAY • MONDAY, MAY 18, 2015
BUSINESS/MONEYGUIDE
NOIPolls Reveals Increase in Consumer Confidence Index
Obinna Chima
The NOIPolls Limited said
its Consumer Confidence Index
(CCI) for the month of April
increased by 5.2 points to 62.9
points.
The CCI measures consumers’
perception of the economy
and future expectations.
The NOIPolls’ CCI report
showed that all indices of the
CCI experienced an increase
except the Expected Total
Family Income Index, which
declined by 3.6 points.
The two independent variables
of the CCI- the Present Situation
Index (PSI) and Expectation
Index (EI) both experienced
an increase of 6.9 points and
3.9 points respectively.
In February 2014, NOIPolls
Limited introduced its portfolio
of indices; the NOI
Polls Personal Well-Being
Index (PWBI), the NOIPolls
Consumer Confidence Index
(CCI) and the NOIPolls Eagle
30 Business Confidence Index
(EBCI).
“Nigerian businesses,
financial and government
agencies largely depend on
their perceptions and micro
assessment of consumers ‘expectation
in making decisions.
At best, they draw conclusion
on the business environment
based on information from
their immediate surroundings
while the minorities conduct
surveys that are time and
money consuming.
“However, the introduction
of these indices provides
indicators that will ensure
stakeholders can detect
and respond to changes in
consumer behaviour, the
economy, and the business
environment in Nigeria.
Also, the report revealed
that the Current Economic
Situation Index experienced
the highest increase of 15.3
points to stand at 40.3 points
April 2015. This, it stated suggested
an increased confidence
of consumers in the current
economic situation compared
to previous months.
“Expectation of the country’s
economic situation index
–97.80. With an increase of 4.62
points this index stood at 97.8
points in the month of April
2015, the Expectation of the
country’s economic situation
index revealed that consumers
are very optimistic and have
great future expectations for
the country’s economic situation,”
it added.
Commenting on the Current
Employment Condition Index
at 52.38 points, it noted that
consumers were averagely
confident about their current
employment conditions
in April because of the 3.2
points increase recorded in
the month under review.
“Expected Employment
Condition Index at 98.88 points
showing very high optimism
of consumers in their future
employment conditions. The
Current Prices of Goods and
Services Index increased by 2.1
points to stand at 12 points
in April 2015 from 9.9 points
in March 2015.
“With a huge increase by
13.4 points, the Expectation
of Prices of Goods and
Services Index stood at 78.8
points in the month of April
2015, indicating that consumer
expect a decline in the prices
of goods and services. The
Expected Total Family Income
Index declined by 3.6 points
from 63.9 points in March
2015 to 60.2 points in April
2015. Although it implies that
consumers expect their total
family income to be above
average,” it stated.
According to the NOIPolls, the
CCI involved telephone interviews
of a random nationwide
sample of 4,000 selected phone
owning Nigerians aged 18
years and above, representing
the six geopolitical zones in
the country.
FCMB Moves to Retail Banking with New
Campaign
First City Monument Bank
(FCMB) Limited said it has
continued to transform and
position itself as a leading
retail bank in Nigeria with
the launch of its new thematic
campaign tagged: “A World of
Opportunity.” This, the bank
stated followed the recent unveiling
of its refreshed corporate
identity, which it noted had led
to a replacement of its former
colours of black and gold with
a vibrant combination of purple
and yellow that speaks to a
wider audience.
“The thematic campaign,
tied to the refreshed corporate
identity of the Bank, tells
compelling stories of life and
business aspirations of diverse
Nigerians and how FCMB
supports them to bring such
dreams and aspirations to
Heritage Bank Promotes Financial Literacy
among Children
Heritage Bank Limited
has said it is offering school
children across the country an
innovative way to celebrate
this year’s Children’s Day
through its ‘My Day as a
Banker’ experience.
Designed to spice up the
May 27th Children’s Day
celebration with innovative
and fun filled way to experience
the world of bankers, the
bank explained in a statement
at the weekend that its ‘My
Day as a Banker’ would be a
bank-wide activity on Monday
May 25th, where selected
secondary school pupils
would have the opportunity
of handling various banking
roles such as tellers, customer
service associates etc.
Managing Director/Chief
Executive, Heritage Bank,
reality. The campaign tells the
story of the very diverse base
of the customers that FCMB
serves.
The campaign comes in
two television and two radio
commercial versions conveying
FCMB’s delivery of great
customer experience and service
on its channels and electronic
banking platform and how it
enables its customers through
those services to fulfil their life
aspirations. It also showcases
the new warm, friendly, approachable
and energetic brand
identity of FCMB and its values
as a simple, reliable and helpful
bank,” a statement from the
bank added.
Speaking on the campaign,
the Divisional Head, Retail
Banking of FCMB, Mr. Olu
Akanmu, said: “The new FCMB
Mr. Ifie Sekibo described
the planned event as the
demonstration of the bank’s
commitment to innovation.
“Children are very special
to us at Heritage Bank, hence
we decided to celebrate them
in a unique way that offers
opportunity to have fun and
learn about banking. ‘My Day
as a Banker’ is also Heritage
Bank’s unique way of promoting
financial literacy among
children, which is the core
essence of the HB Bud Savings
Account, specially designed to
promote savings habit among
children and youths.
“In addition to the ‘My
Day as a Banker,’ Heritage
Bank has lined up series of
fun filled events to mark the
Children’s Day Celebration.
The events will be anchored
brand thematic campaign tells
the story of the diverse base
of the customers that we serve
at FCMB. It does not matter
where you are, we support you
to fulfil your life and business
aspirations at FCMB.
“Our convenient electronic
banking platforms and best-inclass
relationship management
deliver great experience to our
customers as we support them
to achieve their great dreams
for themselves, their families
and their businesses.”
Akanmu also reiterated that
“Nigerians are aspirational and
hardworking people. FCMB
is the bank for all Nigerians,
walking with them as a partner
to fulfil their life and business
aspirations in the true spirit
of its brand pay-off line of
“FCMB- My Bank and I”.
by the Heritage Bank Financial
Literacy Brand Ambassador,
Zuriel Oduwole, the youngest
child to have interviewed nine
incumbent presidents,” he
explained.
The event, according to
bank include Treasure Hunt
at School on May 20th and at
the bank on May 22nd, during
which pupils are expected to
locate their fairy godparents
from clues designed for
them and get a ticket to the
Children’s Day carnival.
“In line with its mission to
create, preserve and transfer
wealth across generations,
Heritage Bank developed
the HB Bud Savings Account,
to help its customers create
wealth for their children,
and provide them a future
of financial independence.
MARKET INDICATORS
MONEY AND CREDIT STATISTICS (MILLION NAIRA)
NOVEMBER 2014
Broad Money (M2) 16,696,663.77
-- Narrow Money (M1) 6,678,249.30
---- Currency Outside Banks 1,231,005.96
---- Demand Deposits 5,447,243.34
-- Quasi Money 10,018,414.47
Net Foreign Assets (NFA) 7,183,427.14
Net Domestic Assets(NDA) 9,513,236.63
-- Net Domestic Credit (NDC) 16,353,454.75
---- Credit to Government (Net) -1,755,121.92
---- Memo: Credit to Govt. (Net) less FMA 419,550.98
---- Memo: Fed. and Mirror Accounts (FMA) -2,174,672.91
---- Credit to Private Sector (CPS) 18,108,576.68
--Other Assets Net -6,840,218.12
Reserve Money (Base Money) 5,068,556.90
--Currency in Circulation 1,577,889.36
--Banks Reserves 3,490,667.54
MANAGED FUNDS
Initial Price (N) Buying Price(N) Selling Price
Stanbic Balanced Fund 1,660.29 1,685.29
Stanbic IBTC NEF 1,000.00 11,002.32 11,326.67.11
Stanbic SIBond 20 120.47 120.47
Stanbic IBTC Ethical 1 1.10 1.13
Stanbic IBTC GIF 142.90 143.38
UBA Balanced Fund 1.2563 1.2493
UBA Bond Fund 1.3443 1.3443
UBA Equity Fund 0.8205 0.8074
UBA Money Market Fund 1.1510 1.1510
ARM Aggressive Growth Fund N14.3777 N14.8112
ARM Discovery Fund N301.2462 N310.3290
ARM Ethical Fund N22.8452 N23.5340
ARM Money Market Fund 13.4478 (Yield % )
OPEC DAILY BASKET PRICE AS AT MARCH 3, 2015
• Source - CBN
• Monetary Policy Rate - 13%
The price of OPEC basket of twelve crudes stood at 56.93 dollars a barrel on Monday, compared
with $56.83 the previous Friday, according to OPEC Secretariat calculations.
The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend
(Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light
(Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab
Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
SOURCE: OPEC headquarters, Vienna

THISDAY • MONDAY, MAY 18, 2015 47
MARKET NEWS
VG30 ETF Makes Final Distribution to Unit Holders
Goddy Egene and
Eromosele Abiodun
The Vetiva Griffin 30 Exchange
Traded Fund (VG30
ETF) will on June 1, make a
final distribution (dividend) of
10 kobo to unit holders for
the year ended December 31,
2014. According to the fund
managers, the unit holders to
benefit are those whose names
would be on the register as
at 5.00 p.m. on May 28. The
fund had last year made an
interim distribution of 10
kobo. The VG30 ETF is the
first equity-based ETF to be
listed on the Nigerian bourse.
It is designed to track the
performance of the constituent
companies of the NSE 30 Index
and to replicate the price and
yield performance of the Index.
The NSE 30 Index comprises
the top 30 companies in terms
of market capitalisation.
The fund managers said:
“To enable our transfer agent
(Central Securities Clearing
System Plc), prepare for the
payment of the final distribution
the ETF’s register of unit
holders will be cc,owed by 5
p.m on May 2015.”
VG30 ETF was listed following
a successful completion
of its Initial Public Offering ,
which Cordros Capital Limited
handled as the issuing house.
Managing Director of Vetiva
Fund Managers Limited, the
fund manager, of VG30 ETF,
Mr. Damilola Ajayi, had
explained that the fund was
developed in line with the
growing ETF industry to give
investors optimal exposure to
the Nigerian bourse by tracking
the movement of the NSE 30
index.
“The NSE30 Index securities
represents a convenient investment
vehicle for exposure to
the Nigerian equities market
via a single security,” he said.
Also, the Managing Director
of Cordros Capital Limited,
Mr. Wale Agbeyangi, said the
ETF represents yet another
milestone by Vetiva in its
commitment to the deepening
of the Nigerian capital market
via the listing of new and
innovative products.
Speaking on the new ETF,
the NSE’s Product Lead for
ETFs, Mr Osahon Aire, had
said ETFs are essentially
index funds that are listed
and traded on the exchange
like shares.
THE NIGERIAN STOCK EXCHANGE
MAIN BOARD DEALS MARKET
PRICE
QUANTITY
TRADED
VA L U E T R ADED
( N )
Daily Summary (Bonds)
Activity Summary on Board DEBT
Federal
Bond Name No. of Deals Current Price Quantity Traded Value Traded
13.05% FGN AUG 2016 2 102.6 800 831,676.24
15.10% FGN APR 2017 1 107 300 321,124.07
16.00% FGN JUN 2019 2 111.5 2,500 2,919,368.14
16.39% FGN JAN 2022 1 115.5 1,550 1,854,115.24
Federal Totals 6 5150 5,926,283.69
DEBT Board Totals 6 5,150 5,926,283.69
Bond Activity Totals 6 5150 5,926,283.69
Daily Summary (Equities)
Activity Summary on Board EQTY
AGRICULTURE
Crop Production No. of Deals Current Price Quantity Traded Value Traded
FTN COCOA PROCESSORS PLC 3 0.5 55,000 27,500.00
OKOMU OIL PALM PLC. 41 27.3 2,887,670 78,584,886.06
PRESCO PLC 13 26 75,820 2,043,698.60
Crop Production Totals 57 3,018,490 80,656,084.66
Livestock/Animal Specialties No. of Deals Current Price Quantity Traded Value Traded
LIVESTOCK FEEDS PLC. 51 2.31 1,663,052 4,054,133.02
Livestock/Animal Specialties Totals 51 1,663,052 4,054,133.02
AGRICULTURE Totals 108 4,681,542 84,710,217.68
CONGLOMERATES
Diversified Industries No. of Deals Current Price Quantity Traded Value Traded
A.G. LEVENTIS NIGERIA PLC. 4 1.55 203,280 315,114.00
JOHN HOLT PLC. 1 0.94 100 90
TRANSNATIONAL CORPORATION OF NIGERIA PLC 175 3.2 13,551,832 43,339,334.06
U A C N PLC. 68 40 14,654,636 586,184,722.88
Diversified Industries Totals 248 28,409,848 629,839,260.94
CONGLOMERATES Totals 248 28,409,848 629,839,260.94
CONSTRUCTION/REAL ESTATE
Building Structure/Completion/Other No. of Deals Current Price Quantity Traded Value Traded
COSTAIN (W A) PLC. 15 0.84 422,595 362,049.05
Building Structure/Completion/Other Totals 15 422,595 362,049.05
Infrastructure/Heavy Construction No. of Deals Current Price Quantity Traded Value Traded
JULIUS BERGER NIG. PLC. 5 51.7 49,675 2,521,861.25
Infrastructure/Heavy Construction Totals 5 49,675 2,521,861.25
Real Estate Development No. of Deals Current Price Quantity Traded Value Traded
UACN PROPERTY DEVELOPMENT CO. LIMITED 24 11.75 1,132,737 13,091,192.94
Real Estate Development Totals 24 1,132,737 13,091,192.94
Real Estate Investment Trusts (REITs) No. of Deals Current Price Quantity Traded Value Traded
UPDC REAL ESTATE INVESTMENT TRUST 2 10 110,000 1,100,000.00
Real Estate Investment Trusts (REITs) Totals 2 110,000 1,100,000.00
CONSTRUCTION/REAL ESTATE Totals 46 1,715,007 17,075,103.24
CONSUMER GOODS
Automobiles/Auto Parts No. of Deals Current Price Quantity Traded Value Traded
DN TYRE & RUBBER PLC 1 0.5 21,000 10,500.00
Automobiles/Auto Parts Totals 1 21,000 10,500.00
Beverages--Brewers/Distillers No. of Deals Current Price Quantity Traded Value Traded
CHAMPION BREW. PLC. 24 7.54 859,346 6,482,586.64
GUINNESS NIG PLC 34 168 50,733 8,203,718.95
INTERNATIONAL BREWERIES PLC. 8 21.7 5,960 129,815.70
NIGERIAN BREW. PLC. 131 151 3,114,328 470,529,265.37
Beverages--Brewers/Distillers Totals 197 4,030,367 485,345,386.66
Beverages--Non-Alcoholic No. of Deals Current Price Quantity Traded Value Traded
7-UP BOTTLING COMP. PLC. 32 178 57,713 10,019,008.50
Beverages--Non-Alcoholic Totals 32 57,713 10,019,008.50
Food Products No. of Deals Current Price Quantity Traded Value Traded
DANGOTE FLOUR MILLS PLC 71 4.85 2,242,510 10,908,085.77
DANGOTE SUGAR REFINERY PLC 116 7.23 3,807,477 27,646,704.27
FLOUR MILLS NIG. PLC. 106 36.99 2,027,051 74,091,603.49
HONEYWELL FLOUR MILL PLC 23 3.4 356,113 1,202,372.98
NATIONAL SALT CO. NIG. PLC 71 8.6 1,664,500 14,493,250.32
Food Products Totals 387 10,097,651 128,342,016.83
Food Products--Diversified No. of Deals Current Price Quantity Traded Value Traded
CADBURY NIGERIA PLC. 24 40 202,490 8,237,044.00
NESTLE NIGERIA PLC. 58 948 99,786 94,405,761.97
Food Products--Diversified Totals 82 302,276 102,642,805.97
Household Durables No. of Deals Current Price Quantity Traded Value Traded
VITAFOAM NIG PLC. 39 4.4 1,784,134 7,627,429.02
VONO PRODUCTS PLC. 1 1.08 20,234 20,841.02
Household Durables Totals 40 1,804,368 7,648,270.04
Personal/Household Products No. of Deals Current Price Quantity Traded Value Traded
P Z CUSSONS NIGERIA PLC. 41 31.23 327,885 9,982,223.77
UNILEVER NIGERIA PLC. 49 40 751,705 29,435,862.91
Personal/Household Products Totals 90 1,079,590 39,418,086.68
CONSUMER GOODS Totals 829 17,392,965 773,426,074.68
FINANCIAL SERVICES
Banking No. of Deals Current Price Quantity Traded Value Traded
ACCESS BANK PLC. 178 6.31 10,455,582 66,527,145.52
DIAMOND BANK PLC 60 4.69 21,491,046 97,891,669.39
ECOBANK TRANSNATIONAL INCORPORATED 53 20.5 11,967,938 242,835,773.25
FIDELITY BANK PLC 100 1.9 11,407,768 21,972,835.81
GUARANTY TRUST BANK PLC. 242 28.11 19,928,564 560,024,461.25
SKYE BANK PLC 92 2.68 3,753,220 9,926,167.34
STERLING BANK PLC. 67 2.36 26,734,987 63,790,172.12
UNITED BANK FOR AFRICA PLC 392 5.32 80,015,544 428,476,337.16
UNION BANK NIG.PLC. 47 11.02 624,132 6,967,561.57
WEMA BANK PLC. 12 0.96 61,118 57,967.07
ZENITH INTERNATIONAL BANK PLC 212 22 14,368,245 315,986,528.41
Banking Totals 1,455 200,808,144 1,814,456,618.89
Insurance Carriers, Brokers and Services No. of Deals Current Price Quantity Traded Value Traded
AFRICAN ALLIANCE INSURANCE COMPANY PLC 1 0.5 200 100
AIICO INSURANCE PLC. 66 1.14 5,886,111 6,400,702.26
CONTINENTAL REINSURANCE PLC 33 0.88 10,527,802 9,284,541.12
GREAT NIGERIAN INSURANCE PLC 1 0.5 1,000 500
INTERNATIONAL ENERGY INSURANCE COMPANY PLC 10 0.5 55,477,741 27,738,870.50
LINKAGE ASSURANCE PLC 21 0.5 1,502,554 751,277.00
MANSARD INSURANCE PLC 4 3.19 8,600 26,750.00
MUTUAL BENEFITS ASSURANCE PLC. 1 0.5 1,000 500
N.E.M INSURANCE CO (NIG) PLC. 10 0.69 376,000 258,890.00
STANDARD TRUST ASSURANCE PLC 1 0.5 11,500 5,750.00
STANDARD ALLIANCE INSURANCE PLC. 2 0.5 43,200 21,600.00
WAPIC INSURANCE PLC 66 0.55 11,385,522 6,176,617.35
Insurance Carriers, Brokers and Services Totals 216 85,221,230 50,666,098.23
Micro-Finance Banks No. of Deals Current Price Quantity Traded Value Traded
NPF MICROFINANCE BANK PLC 89 1.39 7,280,189 10,119,427.71
Micro-Finance Banks Totals 89 7,280,189 10,119,427.71
Mortgage Carriers, Brokers and Services No. of Deals Current Price Quantity Traded Value Traded
ASO SAVINGS AND LOANS PLC 1 0.5 280 140
Mortgage Carriers, Brokers and Services Totals 1 280 140
Other Financial Institutions No. of Deals Current Price Quantity Traded Value Traded
MAIN BOARD DEALS MARKET
PRICE
QUANTITY
TRADED
VA L U E T R ADED
( N )
AFRICA PRUDENTIAL REGISTRARS PLC 36 2.74 311,503 857,973.04
CUSTODIAN AND ALLIED PLC 12 3.95 1,331,192 5,323,893.60
FBN HOLDINGS PLC 537 10.5 30,883,594 318,833,328.87
FCMB GROUP PLC. 158 3.37 16,974,649 56,113,048.13
ROYAL EXCHANGE PLC. 5 0.55 687,000 382,320.00
STANBIC IBTC HOLDINGS PLC 35 28.65 520,355 14,718,037.62
UBA CAPITAL PLC 113 1.48 7,625,968 11,472,478.85
Other Financial Institutions Totals 896 58,334,261 407,701,080.11
FINANCIAL SERVICES Totals 2,657 351,644,104 2,282,943,364.94
HEALTHCARE
Pharmaceuticals No. of Deals Current Price Quantity Traded Value Traded
EVANS MEDICAL PLC. 5 1.99 40,000 76,000.00
FIDSON HEALTHCARE PLC 11 3.35 171,600 556,811.00
GLAXO SMITHKLINE CONSUMER NIG. PLC. 42 53.45 148,231 7,629,958.95
MAY & BAKER NIGERIA PLC. 15 1.8 352,825 647,435.43
NEIMETH INTERNATIONAL PHARMACEUTICALS PLC 15 1.13 177,028 206,276.82
Pharmaceuticals Totals 88 889,684 9,116,482.20
HEALTHCARE Totals 88 889,684 9,116,482.20
ICT
Computer Based Systems No. of Deals Current Price Quantity Traded Value Traded
COURTEVILLE BUSINESS SOLUTIONS PLC 1 0.5 11,111 5,555.50
Computer Based Systems Totals 1 11,111 5,555.50
Processing Systems No. of Deals Current Price Quantity Traded Value Traded
CHAMS PLC 4 0.5 9,671,542 4,835,771.00
Processing Systems Totals 4 9,671,542 4,835,771.00
ICT Totals 5 9,682,653 4,841,326.50
INDUSTRIAL GOODS
Building Materials No. of Deals Current Price Quantity Traded Value Traded
AFRICAN PAINTS (NIGERIA) PLC. 1 2.72 200 518
ASHAKA CEM PLC 15 20.57 111,627 2,198,280.47
BERGER PAINTS PLC 22 9.99 452,855 4,512,991.51
CAP PLC 13 35.66 19,819 752,522.00
CEMENT CO. OF NORTH.NIG. PLC 7 11.59 10,534 116,247.81
DANGOTE CEMENT PLC 13 175 37,908 6,627,514.25
DN MEYER PLC. 1 0.83 1,000 850
PORTLAND PAINTS & PRODUCTS NIGERIA PLC 6 3.84 66,710 267,320.10
LAFARGE AFRICA PLC. 34 93 466,503 43,263,069.24
Building Materials Totals 112 1,167,156 57,739,313.38
Electronic and Electrical Products No. of Deals Current Price Quantity Traded Value Traded
CUTIX PLC. 9 1.74 39,953 70,061.69
Electronic and Electrical Products Totals 9 39,953 70,061.69
Packaging/Containers No. of Deals Current Price Quantity Traded Value Traded
BETA GLASS CO PLC. 1 28.7 200 5,760.00
Packaging/Containers Totals 1 200 5,760.00
INDUSTRIAL GOODS Totals 122 1,207,309 57,815,135.07
NATURAL RESOURCES
Chemicals No. of Deals Current Price Quantity Traded Value Traded
B.O.C. GASES PLC. 3 5.21 13,000 63,342.00
Chemicals Totals 3 13,000 63,342.00
NATURAL RESOURCES Totals 3 13,000 63,342.00
OIL AND GAS
Energy Equipment and Services No. of Deals Current Price Quantity Traded Value Traded
JAPAUL OIL & MARITIME SERVICES PLC 6 0.5 72,100 36,050.00
Energy Equipment and Services Totals 6 72,100 36,050.00
Integrated Oil and Gas Services No. of Deals Current Price Quantity Traded Value Traded
OANDO PLC 368 19.6 9,116,870 179,927,083.22
Integrated Oil and Gas Services Totals 368 9,116,870 179,927,083.22
Petroleum and Petroleum Products Distributors No. of Deals Current Price Quantity Traded Value Traded
CONOIL PLC 20 36.21 202,088 7,345,000.63
ETERNA PLC. 13 2.9 193,944 564,037.60
FORTE OIL PLC. 33 197.6 136,252 26,964,358.16
MOBIL OIL NIG PLC. 15 152.05 27,224 4,244,083.25
TOTAL NIGERIA PLC. 12 162.45 102,170 16,602,165.94
Petroleum and Petroleum Products Distributors Totals 93 661,678 55,719,645.58
Exploration and Production No. of Deals Current Price Quantity Traded Value Traded
SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD 12 398 103,205 41,046,968.00
Exploration and Production Totals 12 103,205 41,046,968.00
OIL AND GAS Totals 479 9,953,853 276,729,746.80
SERVICES
Automobile/Auto Part Retailers No. of Deals Current Price Quantity Traded Value Traded
R T BRISCOE PLC. 6 1.01 140,597 141,141.03
Automobile/Auto Part Retailers Totals 6 140,597 141,141.03
Courier/Freight/Delivery No. of Deals Current Price Quantity Traded Value Traded
RED STAR EXPRESS PLC 4 3.6 15,151 57,270.78
TRANS-NATIONWIDE EXPRESS PLC. 21 1.17 822,600 932,595.00
Courier/Freight/Delivery Totals 25 837,751 989,865.78
Employment Solutions No. of Deals Current Price Quantity Traded Value Traded
C & I LEASING PLC. 6 0.52 293,646 152,507.92
Employment Solutions Totals 6 293,646 152,507.92
Hotels/Lodging No. of Deals Current Price Quantity Traded Value Traded
IKEJA HOTEL PLC 5 3.78 138,500 527,010.00
TRANSCORP HOTELS PLC 6 9.63 6,900 65,022.00
Hotels/Lodging Totals 11 145,400 592,032.00
Media/Entertainment No. of Deals Current Price Quantity Traded Value Traded
DAAR COMMUNICATIONS PLC 3 0.5 150,000 75,000.00
Media/Entertainment Totals 3 150,000 75,000.00
Printing/Publishing No. of Deals Current Price Quantity Traded Value Traded
LEARN AFRICA PLC 1 1.5 1,000 1,480.00
UNIVERSITY PRESS PLC. 1 4.7 10 48.9
Printing/Publishing Totals 2 1,010 1,528.90
Road Transportation No. of Deals Current Price Quantity Traded Value Traded
ASSOCIATED BUS COMPANY PLC 8 0.58 261,660 151,762.80
Road Transportation Totals 8 261,660 151,762.80
Transport-Related Services No. of Deals Current Price Quantity Traded Value Traded
AIRLINE SERVICES AND LOGISTICS PLC 2 2.2 5,000 10,450.00
NIGERIAN AVIATION HANDLING COMPANY PLC 36 6.5 645,452 4,086,317.26
Transport-Related Services Totals 38 650,452 4,096,767.26
Support and Logistics No. of Deals Current Price Quantity Traded Value Traded
CAVERTON OFFSHORE SUPPORT GRP PLC 7 3 1,032,646 3,095,317.40
Support and Logistics Totals 7 1,032,646 3,095,317.40
SERVICES Totals 106 3,513,162 9,295,923.09
EQTY Board Totals 4,691 429,103,127 4,145,855,977.14
Equity Activity Totals 4,691 429,103,127 4,145,855,977.14
Daily Summary (ETP)
Exchange Traded Fund
Name No. of Deals Current Price Quantity Traded Value Traded
LOTUS HALAL EQUITY ETF 1 10.63 20 212.6
NEWGOLD EXCHANGE TRADED FUND (ETF) 2 2,321.00 121 280,022.00
STANBIC IBTC ETF 30 2 107.95 20,000 2,159,000.00
VETIVA GRIFFIN 30 ETF 8 15.82 17,488 276,355.26
Exchange Traded Fund Totals 13 37,629 2,715,589.86
ETF Board Totals 13 37,629 2,715,589.86
ETP Activity Totals 13 37,629 2,715,589.86

Friday, May 1,
48 MONDAY 2015 www.theunion.com.ng
The UNION MAY 18, 2015 THISDAY 3
Congratulations
The board, management and staff of Mainland Oil & Gas Limited
heartily felicitate with Mr. Solomon Arase on his appointment and
confirmation as Inspector General Of Police, Federal Republic of Nigeria.
Sir, your vast experience, diligence, integrity and patriotism stand you out for
great responsibilities.
SOLOMON ARASE
INSPECTOR-GENERAL OF POLICE
Mainland Oil & Gas Co. Ltd.
A Subsidiary of Chrisnak Group
Website: wwww.mainlandoil.com
...Providing Energy for Development
Signed:
Prince Chris O. Igwe
MD/CEO

THISDAY MONDAY MAY 18, 2015 49

50 THISDAY • MONDAY, MAY 18, 2015
CITYSTRINGS
Features Editor Adeola Akinremi
Email adeola.akinremi@thisdaylive.com
High Flyers
Chiemelie Ezeobi writes on a new breed
of young, budding high flyers whose
passions know no bounds
The time was 3.14pm on a certain
Monday. The venue was the
hangar of International Helicopter
Flying School (IHFS), Emene,
Enugu. Under the blistering sun
was the maestro, Group Captain
Ayo Jolasinmi and his student- Edet Okon.
No, they were not part of the new order
that worships the sun. The reason for their
outdoor presence was not far-fetched. It was
time for practice.
And so they boarded the helicopter as
co-pilot and pilot. The student alongside his
instructor after following the ground safety
rules took off from the runway of the Enugu
International Airport, with this reporter as a
passenger.
Round and round the helicopter flew,
circling the airport three times. The silence
in the helicopter was intermittently broken
by the static and air waves emanating from
the earpiece and interjection of soft corrections
from the teacher to the student.
Soon enough, both the rector and this journalist
got down and the student took off on his
solo flight. With arms of steel sharpened by
his desire to be the best he can, he steered the
helicopter and was soon soaring in the skies.
Okon is merely one of the numerous
students (presently 23 students and 43 past
grandaunts) that attend the IHFS to harness
and nurture their dreams of soaring the skies
as a helicopter pilot.
For such students, their attraction to flying
borders in between soaring with the elements
and enjoying the abundant opportunity flying
offers.
Jolasinmi, who also doubles as the rector
of the school, totally agrees with this. With
a smile playing on his lips he said: “Flying
is a magnificent job. It’s one job that brings
out the real you and demands all from you.
“Especially flying helicopters brings you
close to nature. It’s a versatile flying unlike
the fixed wings (aircrafts and aeroplanes).
“With the helicopters, you can save soul,
rescue people on the seas and mountains. You
bring firing power to bear in every facet of
human endeavour. Flying the helicopter is
a passion.
“If you have the desire, you can never regret
it. It’s fulfilling and satisfying. However, it’s
demanding. It’s demands in depth search
for knowledge, right attitude and safety
consciousness.”
For him, IHFS, a private-public partnership
initiative, was borne out of the need to help
anyone else with a passion for flying to realise
that ambition.
He believes that this unique partnership
is a versatile tool for the enhancement of
civil-military cooperation, thereby harnessing
available resources to stimulate the development
of the aviation industry in line with the
transformation agenda of President Goodluck
Jonathan’s administration.
Thus, he said the IHFS is positioned to
infuse impeccable and dogged military flying
experience into the robust and versatile civil
aviation world through its enriched knowledge
base training.
In the Beginning
It all started as a dream of the former Chief
of Air Staff (CAS), Air Marshal Mohammed
Umar, but has over the years evolved under
the administration of the successive Air Force
Chiefs.
With its fully-integrated training program
designed towards making students become
safety conscious, skilled and professional
pilots, IHFS believes that the trainees would
be competent in operating at all levels in the
commercial, military and corporate aviation
sectors.
Indeed, the school’s selling point lies not
only in providing its students with a solid
foundation in all critical areas of aviation theory
and flight skills, but also teaching them how
to work effectively in the constantly changing
environment of the skies.
Thus at its inception ceremony held in Lagos
two years ago, when the school was officially
accredited and certified, the then Director General
(DG) of the Nigeria Civil Aviation Authority
(NCAA), Captain Fola Akinkuotu, had urged
them to strictly adhere to safety procedures.
Flying School
IHFS was set up by TRIAX Nigeria Limited
and Aeronautical Engineering & Technical
Services Limited (AETSL), a subsidiary of NAF
Holding Company, which formed AETSL-TRIAX
Limited through joint venture arrangement.
With a staff strength of 50, including 25
civilians and 25 Air Force personnel, It’s vision
is to harness a formidable helicopter flying
school that trains and grooms youngsters into
professional pilots.
With the fees are as high as 197, 980 dollars
(approximately N16million) for each student,
the idea to start the school in 2010 have attracted
students with the passion for flying
across all sectors.
Already, the services including the police have
had some of their students pass through the
school. Also, some states like Yobe and Enugu
have sponsored some of their brilliant students
to the school. Not left out are government
personnels and few private individuals.
However, having the passion to fly is not
all it entails. The aspiring student must not
be less than 17 years of age and must have
five credits in O’level including Maths and
English.
THISDAY gathered that the school however
runs three types of training programmes which
It all started as a dream
of the former Chief of Air
Staff (CAS), Air Marshal
Mohammed Umar, but
has over the years evolved
under the administration
of the successive Air Force
Chiefs
Squadron Leader Doyin Komolafe (L) instructing the pilots for take off
An Air Force instructor with some students
includes the private pilot license, instrument
rating and commercial pilot license.
While the private pilot license programme
that leads to the award of Private Pilot License
(PPL) is intended for student pilots learning to
fly as a hobby or those planning to purchase
their own helicopters, it is also the first step on
the path to Commercial Pilot License (CPL).
Accordingly, the total flight training consists
of an average of 24 to 47 flight hours on the
R66 helicopter and Fly it simulator.
The course is inclusive of training in basic
flying instrument to ensure that the trainees
have the capabilities to safely operate under
Special VFR conditions and improve their
instrument scanning techniques.
For the instrument rating, it gives a pilot
the ability to cope with unstable weather
conditions in which he/she might operate
from time to time.
Thus, the instrument rating is essential for
both career and safety reasons and affords
the holder of the rating more versatility than
a non-instrument rated pilot and ultimately
makes the holder safer and more confident
in the air.
For those who desire the license for commercial
purposes, the school designed a syllabus
to prepare them for the practical demands
of professional flying through the total flight
training which consists of an average of 55
to 120 flight hours (PPL inclusive) on the R66
helicopter and Fly it simulator respectively.
For eligibility at the end of the course,
the student’s course encompasses advanced
maneuvers and additional cross country flights
to meet the requirements for Commercial Pilot
License.
Growing the Dream
That was the dream at its inception but the
school has grown beyond what it started with.
With more instructors, additional helicopters, all
turbine-engine, the school has certainly come to
stay, especially with its toga of being the first
helicopter training school in the sub-region.
According to Jolasinmi, since the school is
built on the tripod of professionalism, experience
and safety, they have experienced proficient and
dedicated flight and ground instructors who

THISDAY • MONDAY, MAY 18, 2015
51
CITYSTRINGS
Flying: more young people are taking interest
are highly motivated to provide professional
and quality helicopter pilot training.
Before the tour of the facility, IHFS Chief
Flight Instructor, Squadron Leader Doyin
Komolafe, had an interview with THISDAY,
where he categorically stated that in flying,
there is little room for errors.
Komolafe who also wears the cap of a
captain as a civil pilot said they are focused
on capacity development. Their (NAF personnel)
motivation he said is in building experience
that will also help their Air Force job.
He said, “I monitor the flying training of
the students because there are two parts of
responsibility for an instructor- flying and
ground instruction.
“But my primary duty is to supervise the
instructors and monitor the progress of the
training of the students. In other words, I
provide some sort of quality control.
“As regards their training, the theory is
done in the classrooms where they are taught
air courses like aerodynamics and the legal
aspect of flying. This is before we go to the
physical aspect.
“But even before they delve into the practical
aspect, they have to go through the stimulators.
For us, the ground training takes as much as
12 weeks while the simulator is done in two
weeks, which means the course could run for
as long as nine to 12months, depending on
some crucial factors like weather.
“For our programmers, we run either the
Adhoc or full time programmes. The Adhoc
is for executive students who fly at their own
pace. This means that they determine how fast
or slow they want to handle their training
because of their work schedule.
“We have had some politicians train on
this schedule. This type is more conducive
for those who want to fly for fun.
“For the full time programme, we have
students who want to be professional pilots
and fly and make money. We recommend such
because it’s more concise. Their tuition covers
feeding and boarding and ensures they are
available for training anytime. For now we
gave 23 students on full time but 36 graduated
last year.”
Group Captain Ayo Jolasinmi after a flight
On safety, he said “We have a safety manager
and his job is to implement, monitor and revise
all safety procedure from time to time. One
of the regulations is the procedure manual
approved by the NCCA.
“There is a safety team and they carry out
routine monthly inspections and it involves
going around with the teams to observe and
make their reports based on observations of
electricals, platforms, personnel, facility and
the students.
“Another aspect is quality control and the
job of the quality control manager is to ensure
we meet up with NCCA standards. He is
required to fly with them sometimes to ensure
they fly according to the manual. Although no
two instructor fly with the same style, safety
standards must be adhered to.”
On students who fail the ground phase of
training, Komolafe cited a real life scenario
that occurred in the school. He said, “One of
our students had a similar challenge. After
the ground instruction, we could not move
him to the next phase.
“He had the choice to either quit or repeat
the class. Depending on the finances of such a
person, he can retake the close as often as he
wants but after a certain time, we can advice
that they drop off.
“In flying, there are little room for errors
because they will after training, take responsibility
of people’s lives. If he is not good enough,
sooner or later, you will hear that he crashed.”
Understanding the responsibility this thrusts
on their shoulders, Komolafe said the school
adheres strictly to top-notch safety procedures
and inculcates that in their students to ensure
they are world-class materials at the end of
the day.
Thus, he strongly believes that the fulfillment
they get as trainers lies in the belief that they
are developing the capacity of the young men.
But for him, the most important flight in a
pilot’s life is the Solo Flight, which he takes
alone without his instructor to remind him
on what to do.
With that, he soon leads the way for a
guided tour of the facility. The tour takes
off from the classroom, where some students
were being taught by their instructor, an Air
Force personnel.
Soon after that, it was a visit to the simulation
centre where the rudiments of flying are
simulated but at the same time, gives one a
feel of the reality of flying.
Since the tuition includes feeding and boarding,
the students are lodged in self contained
rooms with all the basic amenities of a home,
with extras like the fully-equipped gym and
the mess, which serves as an entertainment
and relaxation centre.
Going down memory lane, Group Captain
Jolasinmi, afterwards In an interview with
THISDAY said from inception, they have taken
some bold steps, and have been able to meet
and surpass the requirements of the NCAA after
they got their certificate of approval in 2013.
He said, “Beyond that, we have in terms of
manpower development been able to bring a
lot of our experience to bear. The school grew
out of the NAF and we (NAF) have been in
existence for 51years.
“Infrastructure wise, it has been tremendous.
We adhere to world class standards. Even the
Vice President, Nnamadi Sambo; the Senate
President, David Mark; Former Minister
of Information, Labaran Maku and other
stakeholders in the aviation industry have
commended the school.
“One of the reasons for the commendation
is that our helicopters use the turbine engine
and this gives more credit to our students
because most schools start with the piston
engine helicopters.”
Speaking on their programme and curriculum
development, he said, “It has been done in a
way that gives room for cross- over of ideas. It’s
not just theoretical or practical, it’s interwoven.
We deliberately did this so we won’t train
people with insufficient knowledge.
“The truth is that if its not integrated, the
With its fully-integrated
training program designed
towards making students
become safety conscious,
skilled and professional
pilots, IHFS believes that
the trainees would be
competent in operating at
all levels in the commercial,
military and corporate
aviation sectors
man will finish the module and drop it, but
what we have done with the integrated learning
system is that it enables the trainees to
remember what they went through at every
module.”
According to Jolasinmi, the school is built
on three tripod; professionalism, experience
and safety. “Safety is significant in all we do.
Safety is hinged basically on attitudes and
knowledge.
“When you talk about aeronautics, it deals
with knowledge and its applicability is so
that at every point, a pilot is on top of what
he is doing.
“Of course, attitude is also key because
no matter the knowledge or curriculum, if
the pilot does not have the right attitude, he
will be a hazard. Thus, the instructors have
the responsibility of moulding the attitude
of the students.
“For now, we have 43 trained over time.
Our capacity is 40 at a time. We are having a
fresh intake this August. At this stage, we are
growing beyond integrated pilot trained and
now we are doing capacity development for
companies. The companies and airlines send
their pilots to us for training.”
When asked what their future projections
were he said, “We intend to widen our horizon.
We are looking at the possibility of going into
flight instructor training as approved by NCCA.
“We also want to go into the air line transport
license and we intend to develop capacity very
soon for special helicopters operations like
search and rescue, sling loading, mountain
operations and paramedics.”
All these successes and achievements have
not been without its fair share of challenges.
On those he said, “We (Nigeria) have low
tech development so everything is sourced
overseas but we have the capacity to do our
overall maintenance in house.
“Another challenge is that of instability in
the foreign exchange, which makes it difficult
for budgetary purposes. Also, this school is
self-sustaining because we generate our revenue
for ourselves.”
In all, since the mission and vision of the
school is to produce safety minded professional
pilots with impeccable skills and experience
to be capable of effective operations and easily
adaptable to the fast and ever changing
aviation environment, as well as train world
class professional helicopter pilots with high
level of experience and competence, the onus
lies on them to ensure half-baked pilots are
not released to the society.

52 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 53
IN THE FEDERAL HIGH COURT HOLDEN AT LAGOS, NIGERIA
SUIT NO. FHC/L/CS/672/2015

54 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 55

56 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 57

58 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 59

60 MONDAY MAY 18, 2015 THISDAY

MONDAY MAY 18, 2015 • THISDAY
INTERNATIONAL
email: foreigndesk@thisdaylive.com
E
Egypt’s Former President Sentenced to
Death
An Egyptian court has
pronounced death sentences on
former president Mohammed
Morsi and more than 100
other people over a mass
prison break in 2011. Morsi
is already serving a 20-year
prison term for ordering the
arrest and torture of protesters
while in power.
Egypt’s religious authorities
will now have to give their
opinion before the sentence
can be carried out. Morsi’s
supporters from his Muslim
Brotherhood movement have
described the charges against
him as “farcical”. He was
deposed by the military in
July 2013 following mass
street protests against his rule.
Since then, the authorities
have banned the Muslim
Brotherhood and arrested
thousands of his supporters.
In a separate case on Saturday,
an Egyptian court banned
hardcore football fan clubs
known as the Ultras, who
played a leading role in protests
during the 2011 uprising
against then-president Hosni
Mubarak.
Inside the dock, Morsi
and members of his Muslim
Brotherhood group chanted,
“Down with military rule!”
after the judge read out his
ruling against him. The judge’s
request for the death sentence
in connection with the jailbreak
case was referred to the grand
mufti, a high religious cleric,
for ratification.
However, the mufti’s
recommendation is not
binding. Even if he advises
against the death sentence, the
judge can still go ahead with
it. The Brotherhood issued a
statement condemning the
sentence and called for an
escalation of protests.
But the tight security grip
in Egypt means that it is
highly unlikely to see mass
demonstrations. Hundreds of
Brotherhood supporters are
already behind bars, while
others are keeping a low
profile for fear of a crackdown.
Morsi, who escaped from Wadi
Natroun prison in January 2011,
was accused of colluding with
foreign militants in a plot to
free Islamists during the mass
prison breaks.
Many of his 104 codefendants
were Palestinians
accused of being members of
militant group Hamas, and
were charged in absentia.
The court also issued rulings
on another case, sentencing
16 Muslim Brotherhood
members, including deputy
leader Khairat al-Shater, to
death on spying charges.
Morsi, who also faces
espionage charges, will be
issued a verdict in that case
at a later date.
Tibetan exiles are calling for
China to release a high-ranking
monk who disappeared 20 years
ago when he was just six years
old. The boy was detained
by the Chinese authorities
just three days after the Dalai
Lama declared him to be the
reincarnated Panchen Lama.
The Panchen Lama is the
second most important figure
in Tibetan Buddhism. Many
consider him to be one of
the world’s longest-serving
political prisoners. China has
refused provide details of the
whereabouts of Gedhun Choekyi
Nyima. In 1995 it anointed its
Hundreds of people have
been sentenced to death in a
crackdown on the Brotherhood
following Morsi’s removal in
2013. However, it is thought
that only one such death
sentence has been carried
out so far.
All death sentences must
first be sent to the grand
own Panchen Lama, Gyaltsen
Norbu, who while popular
among some Tibetans has
been described by exiles as a
“stooge of the atheist Chinese
Communist Party government”.
Wangdue Tsering, press
spokesman for the Office of
Tibet in London, told the BBC
that events were taking place
on Sunday across the world
to mark the 20th anniversary
of Gendhun Choekyi Nyima’s
disappearance, including a
candle-lit vigil outside the
Chinese embassy in London.
“We are appealing to the
world community to help us
mufti, Egypt’s highest religious
authority, for his non-binding
opinion on whether they
should stand. Convictions
are still open to appeal, even
if the grand mufti gives his
approval. Morsi’s supporters
have condemned the cases
against him as a political
show trial.
find out where the Panchen
Lama is,” Mr Tsering told the
BBC’s Asia analyst Michael
Bristow. “It’s 20 years since
he disappeared and we don’t
know where he is, where his
family is and how he is. We
want the Chinese authorities to
give some information.”
The Dalai Lama has in the
past strongly criticised China for
“brazen meddling in the system
of reincarnation” - especially the
reincarnation of the Dalai Lamas
and Panchen Lamas. Tibet is
governed as an autonomous
region of China. Beijing claims
a centuries-old sovereignty over
Amr Darrag, a former
minister in Morsi’s government,
described Saturday as “one of
the darkest days” in Egypt’s
history. “These latest charges
are another deeply disturbing
attempt to permanently erase
democracy and the democratic
process in Egypt,” he said in
a statement.
China Urged to Release Panchen Lama
after 20 Years
the region, but many Tibetans
argue that Tibet was colonised.
China sent in thousands
of troops to enforce its claim
on the region in 1950. Some
areas became the Tibetan
Autonomous Region and
others were incorporated
into neighbouring Chinese
provinces. In 1959, after a failed
anti-Chinese uprising, the 14th
Dalai Lama fled Tibet and set up
a government in exile in India.
Beijing views the Dalai Lama as
a separatist threat, although he
has repeatedly stated that his
goal is for Tibetan autonomy
rather than independence.

F
INTERNATIONAL
MONDAY MAY 18, 2015 • THISDAY
Senior Islamic State Leader Killed in
Syrian Raid
American special operations
forces killed a senior
Islamic State leader in
a raid in Syria, United
States officials said on
Saturday, an operation
that marked a departure
from Washington’s strategy
of relying primarily on air
strikes to target militants
there.
Delta Force commandos
used UH-60 Black Hawk
helicopters and V-22 Osprey
tiltrotor aircraft to punch
deep into eastern Syria
from Iraq. They engaged
in a firefight and hand-tohand
combat with Islamic
State fighters, killed a key
figure in the group named
as Abu Sayyaf and captured
his wife, U.S. officials said.
The officials described
Sayyaf, a Tunisian, as an
Islamic State commander
who helped manage the
group’s black-market sales
of oil and gas to raise funds.
The officials said President
Barack Obama ordered the
overnight operation, which
killed about a dozen Islamic
State fighters and had been
planned for several weeks.
It marked the first known
U.S. special forces operation
inside Syria apart from a
failed mission last year
to rescue U.S. and other
foreign hostages held by
Islamic State in northeastern
Syria.
Wary of the United States
getting pulled deeper into
Middle East conflicts,
Obama has promised not
to commit major ground
forces in the fight against
Islamic State, which has
seized swathes of Syria and
Iraq. But he has left open
the prospect of special
forces raids.
It was not immediately
clear if this one marked
the start of a new chapter
in Syria.
U.S. and Arab forces
have carried out almost
daily air raids against
hardline Islamist militant
groups in Syria including
Islamic State since last
September, and U.S.-led
forces are also targeting
the group in Iraq.
Defense Secretary Ash
Carter said the operation
was intended to capture
Abu Sayyaf but he was
killed “when he engaged
U.S. forces.” His wife, Umm
Sayyaf, was captured, then
placed in U.S. military
detention in Iraq and was
being questioned about
Islamic State operations
and hostages held by the
group.
No U.S. forces were killed
or wounded during the
operation, Carter said.
“The operation represents
another significant blow to
ISIL, and it is a reminder
that the United States will
never waver in denying safe
haven to terrorists who
threaten our citizens, and
those of our friends and
allies,” Carter said, using
an acronym for the Islamic
State organization.
Local Syrian sources
contacted by Reuters said
two other senior Islamic
State operatives, a Syrian
and a Saudi, were also killed
alongside Abu Sayyaf. The
raid lasted no more than
half an hour, according to
the sources.
The accounts could not be
independently verified. U.S.
officials had no immediate
comment on whether
other senior Islamic State
militants were killed in
the raid.
The raid in Syria came
at a time when Islamic
State, which has declared
a caliphate in areas it
controls and has carried out
beheadings and massacres,
Egypt Executes Six
Convicted Sinai Province
Militants
Egypt has executed six men
convicted of carrying out an
attack on soldiers last year,
state media report. The six
men, who were hanged, were
accused of being members of
militant group Sinai Province,
which has pledged allegiance
to Islamic State (IS).
They were found guilty of
killing of two officers during
a gunfight in March 2014.
However, rights groups had
called for a retrial for the six
men, arguing that the court
process was flawed. Human
Rights Watch and Amnesty
International said that three
of the men were in custody
at that time, and could not
have carried out the attack in
Arab Sharkas, a village north
of Cairo.
Amnesty described the men’s
trial as “grossly unfair” and
said the men said they were
tortured into confessing to the
charges. The Sinai Province
group has carried out a series
of attacks against military targets
in Egypt’s Sinai Peninsula
since the army ousted President
Mohammed Morsi in 2013.
The group has been involved
in suicide bombings, driveby
shootings, assassinations
andbeheadings.
The group was previously
called Ansar Beit al-Maqdis
(Champions of Jerusalem), but
announced a name change
in November 2014 after
pledging allegiance to IS.
The execution comes a
day after a court handed
down death sentences to
Mr Morsi and more than
100 other people, over a
mass prison break in 2011.
Shortly after the ruling,
gunmen shot dead four
people, including three
judges, in the northern
Sinai city of al-Arish.
has scored high-profile gains
in Iraq and made advances
in Syria.
Islamic State militants
raised their black flag
over the local government
headquarters in the Iraqi
city of Ramadi on Friday
and claimed victory after
overrunning most of the
provincial capital.
If Ramadi were to fall
it would be the first
major city seized by the
Sunni insurgents in Iraq
since security forces and
paramilitary groups began
pushing them back last year.
U.S. House of Representatives
Speaker John
Boehner said he extended
his “gratitude and continued
support” for the U.S.
troops involved in the
A suicide car bomber
rammed into an European
Union vehicle near the main
airport in Afghanistan’s
capital yesterday, killing
at least two Afghans and
a British national in the
latest attack in the city,
officials said.
The Taliban claimed
responsibility for the
attack on the European
Union Police Mission in
Afghanistan (EUPOL),
which advises Afghan law
enforcement authorities.
The insurgents have
launched a wave of attacks
around the country since
the drawdown of most
foreign troops last year
to a small training force.
EUPOL spokeswoman,
Sari Haukka-Konu confirmed
that one of the
mission’s vehicles was
hit by an explosion near
Kabul airport.
Syria raid. But Boehner, a
Republican, said he was
“gravely concerned” by
Islamic State’s advances
in Ramadi, which he said
“threatens the stability and
sovereignty of Iraq, which is
vital to America’s interests.”
Hawkish Republican critics
of Obama, a Democrat,
say he has not acted forcefully
enough to rein in the
rise of Islamic State.
White House National
Security Council spokeswoman
Bernadette Meehan
said the Syria raid
was conducted “with
the full consent of Iraqi
authorities.” She said
the United States did
not give any advance
warning or coordinate
with the government of
She said all the EUPOL
personnel “are in a safe
place” with non-fatal injuries,
but another person
traveling in the vehicle was
killed.
A British embassy spokesman
later confirmed that a
British national was among
the dead but could give
no other details.
Police spokesman Ebadullah
Karimi said a suicide
bomber in a Toyota Corolla
rammed a foreign vehicle
on the road from Kabul’s
main airport to a NATO
military installation nearby.
He said at least two
Afghan civilian bystanders
were killed and 18 people
were wounded.
The bomber struck about
200 meters from the main
airport entrance along the
road leading to NATO’s
adjacent base. Reuters
TV footage showed the
Syrian President Bashar
al-Assad, who Washington
opposes.
“The president authorized
this operation upon the
unanimous recommendation
of his national security
team and as soon as we had
developed sufficient intelligence
and were confident
the mission could be carried
out successfully,” Meehan
said.
Meehan said U.S. forces
freed a young Yezidi woman
“who appears to have been
held as a slave” by Abu
Sayyaf and his wife. His
wife was suspected of playing
“an important role in
ISIL’s terrorist activities,”
Meehan said.
The U.S. military last
summer carried out a failed
mangled remains of the car.
Rescuers carried wounded
Afghan civilians from
the scene, which police
cordoned off.
Taliban spokesman
Zabihullah Mujahid claimed
responsibility saying that
two vehicles were destroyed
and seven foreign troops
were killed. The insurgents
frequently report inflated
casualties in their attacks.
The capital has seen a
new surge in major attacks
over the last two weeks
after a relative lull since
January.
On Wednesday night,
gunmen attacked a popular
guesthouse ahead of a
musical concert and killed
14 people including nine
foreign citizens.
And twice in a week,
suicide car-bombers
targeted buses carrying
employees of the Afghan
mission in Syria to rescue
journalist James Foley, held
hostage by Islamic State.
Foley was later beheaded by
the group in August 2014.
In December, al Qaeda
militants shot and fatally
wounded American photo
journalist Luke Somers and
South African teacher Pierre
Korkie during a failed
rescue attempt led by U.S.
commandos in Yemen.
Saturday’s raid followed
a summit Obama held at
Camp David earlier this
week with Saudi Arabia
and other Gulf Arab allies
who have pressed the
United States to be more
militarily assertive in Syria,
especially in support of
moderate rebels seeking
to oust Assad.
REMBERING THE UNKNOWN SOLDIER
German Chancellor Angela Merkel and Russian President Vladimir Putin attend a flower-laying ceremony at the Tomb of the
Unknown Soldier by the Kremlin walls in Moscow, Russia...yesterday
Car Bomb on EU Vehicle Kills Three in Afghan
Capital
attorney general’s offices,
killing four people.
The Taliban claimed all
of the attacks.
The insurgents seek to
re-establish their hard-line
Islamist regime more than
13 years after it was toppled
in a U.S.-led military intervention
for sheltering the
al-Qaeda planners of the
Sept. 11, 2001, attacks
on American cities.
The Taliban have
been seeking to gain
new ground since the
drawdown of foreign
forces last year to a
training force of about
12,500.
The NATO-trained
Afghan police and
army have struggled
to prevent attacks and
are engaged in a standoff
with Taliban fighters on
the outskirts of the northern
city of Kunduz.

THISDAY • MONDAY MAY 18, 2015
INTERNATIONAL
G
Pope Francis Canonises Two
Palestinian Women
Pope Francis named two
Palestinian women as saints
yesterday, in a ceremony in
Saint Peter’s Square just days
after the Vatican formalised
its de facto recognition of
the State of Palestine.
The canonization of
Sister Marie-Alphonsine
Danil Ghattas, founder
of the Sisters of the Most
Holy Rosary of Jerusalem,
and Maryam Baouardy,
who founded a Carmelite
convent in Bethlehem, was
not directly connected with
the Vatican’s Wednesday
announcement of a new
accord with the State of
Palestine.
But the ceremony, attended
by Palestinian President
Mahmoud Abbas and a
delegation of senior clergy
including the Latin Patriarch
of Jerusalem Fouad Twal,
highlighted Pope Francis’
longstanding drive to help
embattled Christian communities
in the Middle East.
Saint Peter’s Square was
decked out for the occasion
300 Migrants Stranded
in Asian Seas
For several days, the fate of
roughly 300 desperate Rohingya
and Bangladeshi migrants has
been subject to a repetitive dance
in waters just out of sight of
gleaming Thai beach resorts.
Their boat, which those on
board say has been at sea for
up to three months, was found
drifting last Thursday near
Koh Lipe island, close to the
Malaysian border, with parts
of its engine missing.
Thai sailors fixed the engine
and handed the migrants food
and water, before turning them
back out to the Andaman Sea.
That was the beginning of
what local Thai navy chief Lieutenant
Commander Veerapong
Nakprasit calls “a cycle”, with
the overcrowded fishing vessel
bouncing between the waters of
two countries determined not
to take them in.
This rickety boat was just one
of many that are at the center
of a regional crisis triggered
by a flood of Bangladeshis
and Rohingya Muslims from
Myanmar.
Migrants have long made their
way from the Bay of Bengal’s
southeast corner to Thailand, but
a crackdown on traffickers by
the Thai government disrupted
the route and several thousand
were left at sea with nowhere
to go, though more than 2,000
have made it to the shores of
Malaysia and Indonesia.
Thailand’s foreign ministry
said in a statement that it had
informed the people on the
boat found off Koh Lipe that
they could come ashore for
humanitarian assistance, but
“they informed the Thai side that
they wished to travel onwards”.
After being towed out on
Friday, it headed southwest,
according to Thai navy radar
tracking seen by Reuters. It then
took a jagged counterclockwise
arc towards Malaysian waters,
before its engine stopped and it
drifted again in the sea.
Piecing together what happened
to the migrants after that
is difficult to establish because of
contradictory accounts from Thai
officials and near-total silence
from Malaysia.
On Saturday, Reuters journalists
in a speedboat spotted the
boat tethered to the side of a
Thai navy patrol vessel. The
boat’s engine was running and
it was being dragged southwest
across the Malacca Strait towards
Indonesia’s Aceh province.
As the Reuters team pulled
alongside the migrants’ boat,
hundreds of rake-thin migrants
could be seen huddling
shoulder-to-shoulder on the deck,
sheltering from the harsh sun
with whatever they could find,
including the torn-up boxes of
food handed to them by the
Thai navy earlier.
Men shouted from the boat,
but could not be heard above
the din of the engines. Women
and children stared out and
cried.
As Thai sailors yelled “Go
away! Go, go!” at the journalists,
the migrants’ boat was
released, and it again arced
under its own power back
towards Malaysia, where two
Malaysian vessels were seen
intercepting it.
A Thai navy officer who
questioned the Reuters journalists
at sea described tension and
increasing desperation on the
boat.
The officer, who declined to be
named, said the boat appeared
to be under the control of two or
three “agents” who insisted on
going to Malaysia over objections
from some passengers and had
hoarded food and water provided
by the military. The engine was
found on Saturday with water
in it, a possible sign it had been
sabotaged, he said.
“The women and children
are not getting fed,” he said,
adding that when the boat was
first intercepted near Koh Lipe
they had to force the agents to
give them food.
“The first time they were
intercepted, everyone wanted
to go to Malaysia. Today some
of them wanted to come to
Thailand but the men ordered
them back,” he said.
Chris Lewa, head of the
Arakan Project which tracks
Rohingya migrant boats,
said she had been told of
mounting tensions on the
boat that could break out
into open conflict.
“They could even kill each
other,” she said.Several hours
later, another Reuters team
spotted the migrants’ vessel
again tethered to the Thai
navy patrol boat. It was unclear
if it had been pushed
back by the Malaysians.
Veerapong said that, as of
Saturday night, the boat had
been turned and was heading
once again in the direction of
Indonesia.
with portraits of the Palestinians
and two other newly
sanctified nuns - the French
Jeanne-Emilie de Villeneuve
and Italian Maria Cristina of
the Immaculate Conception
Brando.
In a statement as he
departed for the Vatican
last week, Twal said Ghattas
and Baouardy, who entered
religious orders as teenagers
in the late 1800s and died in
1927 and 1878 respectively,
were an example for Christians,
Muslims and Jews.
“It is a sign of our modern
time which suggests
that we can talk about the
three religions without any
discrimination,” the patriarch
said in a statement as he
departed for the Vatican.
The canonizations of two
Palestinians were the first of
their kind “since the days
of the apostles,” Twal said.
On Saturday, the pope met
Abbas for a private visit, calling
him “an angel of peace”
and urging a renewed effort
to find peace with Israel.
L-R: Managing Director/CEO, PRM Africa and Executive Producer, All Africa Music Awards (AFRIMA), Mike Dada; Director,
Brand Communications and Sponsorship, Matlou Tsotsesi; and AFRIMA Winner, 2014 Album of the Year, Olamide (Nigeria),
at the AUC-AFRIMA Conference, held at the African Union Headquarters, Addis Ababa, Ethiopia, recently.
Yemen: 10 Killed in
Overnight Fighting in
Taiz
At least 10 people were killed in
overnight battles in the Yemeni
city of Taiz between Houthis
and militiamen, residents and
medical sources said yesterday.
The fighting in Taiz comes
despite a five-day humanitarian
truce which began on Tuesday
to distribute aid to the millions
deprived of food, fuel and
medicine by weeks of fighting.
Saudi Arabia, leading a coalition
of Arab states backed by the
West, has pounded Iranian-allied
Houthi forces and fighters loyal
to Yemen’s former leader Ali
Abdullah Saleh since March
26, aiming to restore President
Abd-Rabbu Mansour Hadi.
Some fighting also took
place in the city of Dhalea on
Saturday night but there was
no immediate information on
casualties.
A conference between Yemeni
political groups has been
scheduled by President Hadi’s
government for Monday in
Riyadh after the ceasefire
ends.
The conference was rejected
by both the Houthis and fighters
loyal to former president
Saleh, meaning it will not
provide an opportunity for
peace talks.
However, some leading
figures from Saleh’s political
party, the General People’s
Congress (GPC), have gone
to Riyadh and pledged loyalty
to Hadi’s government.
Those figures issued a
statement late on Saturday
asking for Saleh to step down
as president of the GPC and
declared they would take part
in the Riyadh talks.
Three Ukrainian Servicemen
Killed, 17 Wounded
Three Ukrainian serviceman
have been killed and 17
wounded in fresh separatist
attacks in eastern Ukraine
in violation of a ceasefire
agreement, a Ukrainian
military spokesman said
yesterday.
Two of the deaths were
a result of a mortar attack
near the town of Svitlodarsk,
northeast of separatist-controlled
Donetsk, spokesman
Andriy Lysenko said in a
briefing.
Ukrainian President,
Petro Poroshenko, said last
Wednesday that 83 Ukrainian
servicemen have been killed
in rebel attacks since the
ceasefire came into force in
February.
Macedonia Protesters
Vow to Occupy Streets
until Leader Quits
Anti-government protesters in
Macedonia have said that they
will occupy downtown Skopje
until embattled conservative
Prime Minister Nikola Gruevski
resigns over a flood of damaging
wire-tap disclosures.
Gruevski’s political opponents
hope to rally tens of thousands
in front of the prime minister’s
office from 2 p.m. (8 a.m. ET),
accusing him of trampling on
democracy.
“The protest will continue,”
opposition Social Democrat
leader Zoran Zaev said late on
Saturday in an interview with
internet broadcaster Nova TV.
“Around 4,600 activists, mostly
young people, said we’re staying,
even if you won’t. That’s
when we decided to stay.”
Since February, Zaev has been
releasing a hoard of audio-tapes
he says were secretly recorded
by Gruevski’s government, targeting
20,000 allies, opponents,
journalists, judges and other
figures during his nine years
in power.
They appear to expose tight
government control over the
media, courts and the conduct
of elections. Gruevski says the
tapes were made by foreign
spies and have been doctored.
Zaev has been charged with
“violence” against the state. The
government has called its own
rally for Monday evening.
The standoff has raised fears
of instability in the impoverished
ex-Yugoslav republic, which
narrowly avoided all-out civil
war during an ethnic Albanian
insurgency in 2001.
Macedonia wants to join
NATO and the European Union,
but progress has been blocked
for years by a long-running
dispute with neighboring
Greece over the country’s
name, during which time
critics say Gruevski has shifted
right, fuelling nationalism and
monopolizing power.
Western diplomats in Skopje
are trying to mediate a solution
to the crisis, and have questioned
the government’s commitment to
democracy and European values.
On May 9 and 10, a police
raid on a northern ethnic
Albanian neighborhood left
18 people dead: eight police
officers and 10 Albanians
described by the government
as “terrorists”. Gruevski said
police had thwarted a terrorist
plot, but Albanians and some
foreign analysts said the timing
suggested the government was
trying to create a diversion.
“I have no intention of resigning,
or accepting an interim
government,” Gruevski told
pro-government broadcaster
Sitel TV on Saturday. “If I back
down it would be a cowardly
move. I’ll face down the attacks.”
Weighing in on Saturday,
Russia’s foreign ministry accused
“Western organizers” of trying
to foment a revolution.

H
MONDAY MAY 18, 2015 THISDAY

MONDAY MAY 18, 2015 • THISDAY
INTERNATIONAL
61
Burundi’s President
Warns of Al
Shabaab’s Violence
Burundi’s President, Pierre
Nkurunziza, has said that his
country faces a specific threat
from the Somali Islamist
movement, al-Shabab. He
was appearing in public in
the capital Bujumbura for
the first time since a failed
coup bid against him was
launched on Wednesday.
Mr Nkurunziza made no
mention of the coup attempt,
which came after weeks of
sometimes violent protests
against him. On Saturday 18
people appeared in court on
charges of helping the coup
bid. The alleged ringleader,
Godefroid Niyombare, is still
on the run.
Activists are planning more
protests for Monday against
Mr Nkurunziza’s decision to
seek a third term in office
A Turkish freighter has
been attacked near the
coast of Libya, leaving
one crew member dead,
Turkey’s foreign ministry
has said. The ship came
under artillery and aerial
fire near the eastern port
of Tobruk late on Sunday,
the ministry said. Several
crew members were hurt.
Turkey criticised what
it called an “atrocious”
act. But Libya said it had
issued warnings about not
approaching parts of the
coastline. Libya has been
in chaos since its long-time
leader, Colonel Muammar
Gaddafi, was overthrown
with Western military help
in 2011.
The internationallyrecognised
government
in elections due next month.
The president’s claims have
been met with scepticism
from many, who fear they
could provide a pretext for
the security services to crack
down hard on Monday’s
demonstrations.
On Saturday, our
correspondent saw evidence
of a retaliatory attack at a
hospital where soldiers
involved in the coup were
being treated. Three soldiers
were taken from the building
and bundled into a police
van. Nkurunziza was out of
the country when military
officers launched their
coup bid against him on
Wednesday. He returned on
Friday after forces loyal to
him had regained full control.
The president said he
is based in the port city
of Tobruk and in al-Bayda,
having been expelled from
the capital, Tripoli, by
militias in 2014.
Turkey’s foreign ministry
said the ship, which was
carrying gypsum from
Spain to Libya, came under
attack 13 nautical miles
(24km) from Tobruk, its
destination. The Turkish
third captain was killed.
But a spokesman for
forces belonging to the
Tobruk government said
it was destined for Derna,
a port city 106 miles
(171km) further west. “A
ship was shelled about 10
miles from Derna coast.
We have warned before
about approaching Derna
port,” Mohamed Hejazi told
came to his office to speak
on the telephone with the
leaders of Kenya and Uganda
regarding a specific threat
from the Islamist group al-
Shabab. Al-Shabab, which
is battling the UN-backed
government in Somalia, has
carried out a string of attacks
in neighbouring Kenya and
is allied to al-Qaeda.
The UK Foreign Office and
the US state department say
al-Shabab has threatened
to carry out attacks in
Burundi because of its role
in the African Union-led
peacekeeping mission in
Somalia. The US has advised
its citizens to leave the country
because of the deteriorating
political situation, and had
previously warned about the
threat from al-Shabab.
Libyan Conflict: Turkish Ship
‘Bombed near Tobruk’
Reuters news agency.
Turkey said the Cook
Islands-registered ship
was in international waters
when it was attacked,
something Libya denies.
In January, Libyan air force
jets bombed a Greek oil
tanker, killing two crew
members, after saying its
movements in Derna had
raised suspicions.
Reports say no tankers
unloaded in Derna
between the bombing and
two weeks ago, when a
Maltese-flagged ship
docked there. Islamist
militias have established
a strong presence over the
last two years, and some
militants have pledged of
allegiance to the Islamic
State militant group.
Taliban Suicide Attack Kills Three
near Kabul Airport
A suicide bomb attack near
the entrance of the international
airport in the Afghan
capital Kabul has killed
three people, including a
British citizen. The attack
took place close to the area
used by military vehicles
and targeted a European
police training mission
vehicle.Two Afghan teenage
girls, described as bystanders,
died in the blast, while at
least 18 people were injured.
The Taliban said it carried
out the attack in a statement
emailed to media. The attack
is the second major incident
in Kabul within a week. A
Taliban gun attack on a hotel
in the city on Thursday killed
14 people, most of them
foreigners. At least eight
women and three children
were among the wounded
in Sunday’s attack, Kabul
police said, in addition
to three members of the
European mission, known
as Eupol.
A spokeswoman for the
UK’s Foreign and Commonwealth
Office (FCO) said:
“We can confirm that a British
national was tragically killed
in a terrorist attack in Kabul
this morning. We stand ready
to provide consular assistance
to the family.”
A spokesman for the
interior ministry, Najib
Danish, told reporters that
one foreign military vehicle
and two civilian vehicles
were damaged in the attack.
The bombing on Sunday
comes two weeks after
the first exploratory peace
talks between the Taliban
and a group of negotiators
including representatives of
the government.

62 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 63
ADVERTORIAL

64
THISDAY • MONDAY, MAY 18, 2015
Nigeria’s top 50 stocks based on market fundamentals
15-May-15 8-May-15 % Change Capitalisation EPS P/E P/S Div. Yld Price/
Book
Value
01 Zenith Bank Plc 22.22 21.26 4.52% 697,630,091,924.92 3.10 7.17 1.91 7.88% 1.26
02 Lafarge Africa Plc. 82.50 82.52 -0.02% 363,344,519,010.00 6.42 12.85 1.77 4.00% 1.90
03 Ecobank Transnational Incorporated 21.56 24.49 -11.96% 343,940,303,931.84 1.60 13.46 0.81 2.88% 0.92
04 Stanbic IBTC Holdings Plc 30.00 30.00 0.00% 300,000,000,000.00 2.65 11.33 2.54 0.33% 2.67
05 FBN Holdings Plc 8.99 9.10 -1.21% 293,362,438,360.44 2.08 4.33 0.73 11.12% 0.56
06 Guinness Nig Plc 155.00 160.56 -3.46% 233,412,669,140.00 6.24 24.83 2.08 0.00% 5.62
07 Forte Oil Plc. 173.23 163.01 6.27% 225,628,801,472.69 5.18 33.44 1.66 2.31% 5.70
08 Seplat Petroleum Dev. Co. Ltd. 387.00 387.00 0.00% 214,131,091,131.00 94.70 4.09 1.57 4.13% 1.04
09 United Bank for Africa Plc 5.20 5.00 4.00% 171,503,215,343.20 1.32 3.93 0.62 9.62% 0.72
10 Oando Plc 17.81 18.40 -3.21% 161,798,252,993.78 0.66 26.90 0.28 4.21% 1.03
11 Access Bank Plc. 6.18 5.98 3.34% 141,416,438,851.44 1.69 3.66 0.67 5.66% 0.51
12 Unilever Nigeria Plc. 34.40 43.00 -20.00% 130,145,391,000.00 0.93 36.86 2.18 3.63% 20.41
13 Transnational Corporation Of Nigeria Plc 3.19 3.20 -0.31% 123,519,981,785.75 0.29 10.87 3.82 1.57% 1.35
14 P Z Cussons Nigeria Plc. 29.00 28.00 3.57% 115,143,834,305.00 1.09 26.70 1.59 4.48% 2.48
15 7-Up Bottling Comp. Plc. 176.00 162.00 8.64% 112,743,903,888.00 8.39 20.97 1.45 1.25% 6.51
16 Diamond Bank Plc 4.37 4.60 -5.00% 101,210,899,790.16 1.33 3.30 0.53 6.86% 0.69
17 Flour Mills Nig. Plc. 35.00 35.29 -0.82% 91,848,301,545.00 1.84 19.01 0.28 5.71% 1.08
18 Dangote Sugar Refinery Plc 6.60 6.40 3.12% 79,200,000,000.00 1.11 5.92 0.78 7.58% 1.61
19 U A C N Plc. 40.00 40.00 0.00% 76,834,575,480.00 4.53 8.83 0.97 4.38% 1.05
20 Cadbury Nigeria Plc. 39.90 39.90 0.00% 74,940,261,396.00 3.21 12.44 2.23 3.26% 6.86
21 Julius Berger Nig. Plc. 51.70 51.70 0.00% 68,244,000,000.00 6.00 8.62 0.31 5.22% 3.03
22 International Breweries Plc. 20.00 20.42 -2.06% 65,250,528,600.00 0.65 30.99 3.53 1.25% 5.79
23 FCMB Group Plc. 3.00 3.25 -7.69% 59,408,132,262.00 0.82 3.65 0.43 10.00% 0.40
24 Fidelity Bank Plc 1.89 1.92 -1.56% 54,762,366,373.47 0.23 8.21 0.43 7.41% 0.32
25 Mobil Oil Nig Plc. 151.30 150.00 0.87% 54,558,063,140.60 19.21 7.88 0.67 3.97% 4.07
26 Total Nigeria Plc. 150.00 165.00 -9.09% 50,928,275,550.00 15.49 9.69 0.21 6.00% 3.56
27 Sterling Bank Plc. 2.15 2.15 0.00% 46,424,549,229.25 0.35 6.16 0.47 11.63% 0.06
28 Glaxo Smithkline Consumer Nig. Plc. 44.20 54.00 -18.15% 42,286,192,598.00 2.56 17.26 1.41 2.94% 3.26
29 Wema Bank Plc. 0.99 0.97 2.06% 39,093,489,480.87 0.00 335.66 5.78 0.00% 22.01
30 Cap Plc 43.00 43.00 0.00% 30,100,000,000.00 1.66 25.86 4.52 2.33% 22.92
31 Mansard Insurance Plc 3.00 2.99 0.33% 30,000,000,000.00 0.20 14.99 1.99 1.33% 1.94
32 Presco Plc 30.00 28.98 3.52% 30,000,000,000.00 3.28 9.15 2.64 0.33% 1.69
33 Skye Bank Plc 2.17 2.50 -13.20% 28,685,956,246.92 1.14 1.90 0.23 13.82% 0.24
34 Honeywell Flour Mill Plc 3.47 3.96 -12.37% 27,517,785,873.26 0.40 8.73 0.51 4.61% 1.42
35 Okomu Oil Palm Plc. 28.44 28.52 -0.28% 27,129,200,400.00 2.25 12.66 3.06 3.52% 1.17
36 Unity Bank Plc 2.23 2.62 -14.89% 26,067,223,610.66 0.54 4.11 0.41 0.00% 0.45
37 Custodian And Allied Insurance Plc 4.17 4.20 -0.71% 24,527,373,693.15 0.70 5.93 0.97 2.64% 1.19
38 National Salt Co. Nig. Plc 8.00 8.30 -3.61% 21,195,507,024.00 0.97 8.26 1.97 11.25% 3.78
39 UACN Property Development Co. Limited 10.25 10.25 0.00% 17,617,187,448.75 1.81 5.67 1.57 6.83% 0.53
40 Cement Co. Of North.Nig. Plc 10.50 10.50 0.00% 13,195,116,543.00 1.13 9.31 0.81 6.67% 1.35
41 Continental Reinsurance Plc 0.99 0.99 0.00% 10,269,016,868.88 0.16 6.21 0.65 10.10% 0.70
42 Nigerian Aviation Handling Company Plc 6.80 6.68 1.80% 10,040,625,000.00 0.49 13.75 1.22 4.41% 1.69
43 AIICO Insurance Plc. 1.00 1.04 -3.85% 8,800,204,480.00 0.14 7.24 0.33 0.00% 0.68
44 Wapic Insurance Plc 0.54 0.53 1.89% 7,226,678,653.92 0.03 18.87 1.92 0.00% 0.51
45 Resort Savings & Loans Plc 0.50 0.50 0.00% 5,664,866,202.00 4.68 0.11 0.02 0.00% 0.03
46 Fidson Healthcare Plc 3.20 3.15 1.59% 4,800,000,000.00 0.63 5.05 0.22 13.13% 0.10
47 AIICO Insurance Plc. 1.02 1.14 -10.53% 8,976,208,569.60 0.14 7.39 0.34 0.00% 0.70
48 Wapic Insurance Plc 0.52 0.55 -5.45% 6,959,023,888.96 0.03 18.17 1.85 0.00% 0.49
49 Resort Savings & Loans Plc 0.50 0.50 0.00% 5,664,866,202.00 4.68 0.11 0.02 0.00% 0.03
50 Fidson Healthcare Plc 3.32 3.35 -0.90% 4,980,000,000.00 0.63 5.24 0.22 12.65% 0.10
TOTAL 10,652,468,770,086.20
TOTAL MARKET CAP 11,696,846,667,606.00
% OF MARKET CAP 91.07%
Annotation - MA* = Simple Moving Average
Table 1 Market Statistics
Mkt Indicators
Open
8-May-15
Close
15-May-15
Change %
NSE All Share Index 34,439.40 34,400.57 -0.11
NSE Market Cap (N'Trillion) 11.70 11.68 -0.12
Thisday BGL 50 Index 144.14 144.05 -0.07
Thisday BGL 50 Market
Cap (N'Trillion)
10.65 10.65 -0.07
Table 3 Top 5 Gainers
Stock
Table 4 Top 5 Losers
Stock
Open
8-May-15
Open
8-May-15
Close Change %
15-May-15
7-Up Bottling Comp. Plc. 176.00 162.00 8.64
Forte Oil Plc. 173.23 163.01 6.27
Zenith Bank Plc 22.22 21.26 4.52
United Bank for Africa Plc 5.20 5.00 4.00
P Z Cussons Nigeria Plc. 29.00 28.00 3.57
Close Change %
15-May-15
Unilever Nigeria Plc. 34.40 43.00 -20.00
Glaxo Smithkline Consumer 44.20 54.00 -18.15
Nig. Plc.
Unity Bank Plc 2.23 2.62 -14.89
Skye Bank Plc 2.17 2.50 -13.20
Honeywell Flour Mill Plc 3.47 3.96 -12.37%
WTD loss at modest 0.11%
In line with our expectation, the market closed
southward thanks to a number earnings
announcement during the trading week, as Brent
crude oil surged to $6 from $58 at the start of
the week. At the moment, the current 52 week
loss stands at 12.86, lower than 13.05% at the
end of the prior week. The NSE All-Share Index
depreciated by 0.11% in five-trading-days
to close the trading week at 34,400.57 from
34,439.40 at the end of the prior ended week.
Market capitalisation also decreased to N11.68
trillion from N11.70 trillion at the end of the prior
week. The Thisday BGL 50 Index also followed
suit though with a lower 0.07% decrease to
close at 144.05 from 144.14 the prior week,
while its market capitalisation stood to N10.65
trillion from N10.65 trillion at the end of the prior
week.
7up Plc. emerged the toast of investors,
as the bottling giant led the gainers chart with
an 8.64% appreciation during the week to
close at N162.00 per share from N176.00 per
share. It was followed by Forte Oil Plc. with a
gain of 6.27% to close at N163.01 per share
from N173.23 per share. Others on the weekly
gainers’ chart include; Zenith Bank Plc. with a
4.52% gain to N22.22 per share, UBA Plc., with
a 4.00% gain to close at N5.20 per share, and
PZ Cussons Plc. with a 3.57% gain to close at
N28.00 per share.
Unilever Plc. led the losers chart with a
20.0% to close at N34.40 per share from N43.00
per share a week earlier. It was followed by GSK
Plc. with a loss of 18.15% to close at N44.20
per share from N54.00 a week earlier. Others on
the decliners’ chart are; Unity Bank Plc. with a
14.89% depreciation to close at N2.23 per share,
Skye Bank Plc., with loss of 13.20% to close at
N2.17 per share, and Honeywell Plc., with loss of
12.37% to close at N3.47 per share.
Outlook for the week
We expect positive sentiment to resume
on the Bourse, as we expect bargain hunting
for banking stocks, as witnessed by the large
volume and value of trade witnessed during
the week. In addition we expect investors to
start positioning ahead of the full year and first
quarter of 2015 earnings season.
REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does
and seeks to do business with companies covered in its research reports. As a
result, the firm may have a conflict of interest that could affect the objectivity of this
report. Investors should use this report as one of many other factors in making their
investment decisions.
For more details go to www.thisdaylive.com

MONDAY MAY 18, 2015 • THISDAY
65
NEWSEXTRA
Fashola Hits Back at Critics over Lagos
Debt Profile
Shola Oyeyipo and Ojo
Maduekwe
Perhaps as a parting shot, the
Lagos State Governor, Mr.
Babatunde Fashola (SAN), has
asked critics of his administration
to evaluate the gains of the
infrastructure development
brought about by the loans
of his administration and stop
emphasising the figures.
Fashola, who made this
clarification at the weekend during
an interview session with select
journalists at the State House,
Alausa, Ikeja, also noted that
there was a distinct repayment
schedule for the bonds obtained
by the state government with
credit worthiness.
“The borrowing you are talking
about, when you measure it
against the asset, today, we took
N275 billion bond over about
eight years. The first thing we
had to do was to repay the old
bond of N15 billion because Lagos
State drew N15 billion out of
the N25 billion bond. We had
to repay so that we can take full
benefit of what we were trying
to do, which was going to be
issued in series and we did all
these things in public.
“What did we use that money
to finance? We used that money
to finance infrastructure. So as
the monthly Internally Generated
Reveue (IGR) is coming, we are
refunding 15 per cent of that IGR
and don’t forget that the N20
billion you are talking about,
15 per cent goes straight into a
consolidated debt service account.
We can’t touch it. So, take 15 per
cent of N20 billion out. We have
close to about N100 billion in
that account to pay the debts. So,
those who are saying we owe;
the system to pay the bond is
secured.
“We just paid the second bond,
which was the first that I took.
We paid it; I think it was last
year. The next bond will be due
in 2017 and it’s about N60 or 70
billion, but we have N100 billion
in the account,” he explained.
The governor however
reiterated that the state had
“secured our liabilities as far as
the bonds are concerned. As far
as the local short term loans from
banks are concerned, we are able
to pay and if you don’t want a
life of debt, it means first that
Lagosian must agree that let us
reduce our budget to only what
we earn. We have a budget of
about N489 billion, let’s use the
IGR example, 30 x 12 is 360, and
so, we are already in a hole of
about N119 billion,” he explained.
Fashola noted that most of
those attempting to criticise
the administration are doing
so without paying attention to
the advantages that the bonds
have brought to the people of
the state, particularly in the area
of improved living standard of
the populace.
“People simply just dwell on
debt but I think in the context of
debt, let us look at the asset too.
I am leaving behind hundreds
of kilometres of roads, bridges,
schools, hospitals, court rooms,
social services, skill centres, street
lights and traffic lights. I’m leaving
behind people who don’t have
a job seven years ago who now
have jobs; I’m leaving behind a
stronger security force, stronger
LASTMA, stronger KAI. That is
where the money went.
“I’m leaving behind a rail
system; I’m leaving behind so
many assets for the continuity
of life. I’m also leaving behind
a bigger work force. I’m leaving
behind a better equipped work
force. So, I think we should
talk less about debt and talk
about development. The state
government would continue to
raise more money. All these take
me to the IGR that you are talking
about. The IGR standing on its
own is averagely N20 billion.
Let’s do the math.
“Some months, it goes more
than that, some months it drops.
So let’s use N20 billion as an
example. The monthly allocation
from FAC is averagely N10
billion. Sometimes it goes up to
N11 billion; sometimes it comes
down to N9 billion. So let’s use
an average of N10 billion, even
though it dropped last month to
N6.5 billion. So, we didn’t even
have enough to pay salaries. So,
El-Rufai Laments Huge
Debt Profile in Kaduna
John Shiklam in Kaduna
The Kaduna State governor-elect,
Mallam Nasir El-Rufai, at the
weekend decried the high debt
profile of the state, lamenting
that his administration would be
inheriting a bankrupt economy
when he takes over on May 29.
According to him, the debt
profile of the state currently stood
at N90 billion, adding that it may
increase to N100 billion before
May 29.
El-Rufai stated this during
a special reception for elected
officials by Kaduna Peoples’
Association (KAPA) and special
prayers for them by the All
Progressives Congress (APC)
Yoruba Political Forum which
held at the Arewa House, Kaduna.
He said Nigerians should pity
him and the president -elect, Gen.
Muhammadu Buhari and pray
for them rather than coming to
congratulate them because of the
bankrupt economy he and Buhari
would inherit.
He said the situation was in
bad situation, noting that the
outgoing government led by
President Goodluck Jonathan
had to obtain loan to pay salaries.
He declared that his
government would not
share public funds to any persons
or group, no matter how highly
placed they are.
“When people call me to
congratulate me or come to
congratulate me and Buhari, I
always tell them, thank you, but
what we need is your sympathy
and prayers.
“This is because, myself and
Buhari are taking over bankrupt
governments; it is so bad that the
Jonathan administration is finding
it difficult to pay salaries, in fact,
they had to obtain loan to pay
salaries.
let’s take an average of N30 billion
a month, do the calculation 21
million peoples, divide it, you
will come to roughly N1,400 per
person in Lagos.
“So, it’s easy then to say let’s
collect that through IGR that you
are saying is big. You are seeing
the IGR in isolation; you are not
seeing the big responsibilities. Our
population has also grown by
forced migration – Internally
Displaced Persons (IDPs)
resettlement. I just sent a team
to a place in Apapa, where there
are people displaced from the
North-east of Nigeria in camps, so
we have to go and intervene. You
can’t leave them there without
help. The sanitary conditions are
horrendous.
“So, N1,400, if we wanted a
government that just does what
is available every month, I just
tell everybody take your N1400
go and build your roads, go and
build your schools, go and build
your hospitals and manage your
Dangote Cement Posts N74.7bn Profit in
Q1 2015
Crusoe Osagie
Nigeria’s largest cement
producer, Dangote Cement,
has announced a gross profit
of N74.7 billion for the three
months ended March 31, 2015,
indicating an increase of 10.5
per cent over N67.63 billion
recorded in the same period
in 2014.
According to the cement
giant’s unaudited results for
first quarter of 2015, revenues
rose by 10.8 to 114.7billion
compared to N103.57 billion
in the corresponding in 2014.
The improvement in the first
results was buoyed by maiden
contributions from non-Nigerian
factories
Net profit was up from 44.1
per cent to 68.6 billion in contrast
to N47.62 billion in 2014, while
earnings per share grew by 45.7
per cent to 4.09.
Group cement sales volumes
was up by 3.4 per cent to 3.8
security.
“But we have to be futuristic,
we have to think ahead. The
IGR you talked about doesn’t
come as IGR to us, it comes as
somebody paying N1 million
for land, someone registering
vehicles, somebody paying his
ground rent N3 million, but it is
because we are accountable that
we always announce at the end
of the month that this is what
we got.
“If we wait for the 30 days for
the money to accrue, it means we
won’t do any work. So people
must understand that it means we
won’t do any work because the
money hasn’t accrued. So, what
do we do? We borrow against
it. The banks which collect it
know that we will pay because
the money comes through them.
So we take a loan, but we don’t
borrow to pay salaries, we don’t
borrow for recurrent expenditure,
we borrow for capital investment.
“The person who is waiting
million tonnes driven by
contributions from South Africa,
Senegal, Cameroon and new
lines in Nigeria. The margins
from Nigeria increased by
new pricing, improved gas
supply and more use of coal.
Dangote cement plants are now
operational in Zambia and
Ethiopia. The new plants are
expected to impact positively
on the financials of the cement
giants.
Speaking on the first quarter
results, Chief Executive officer,
Dangote Cement, Mr. Onne van
der Weijde, said: “Our African
projects are now beginning to
deliver revenue growth for the
group and even at this early
stage we are seeing good
potential in all the countries
into which we are expanding.
“Senegal has made an
excellent start, Cameroun is
poised for a strong entry into
an exciting growth market and
Sephaku Cement is clearly
to deliver a child and there is
no hospital space, I can’t go and
tell that person to wait, that I
am waiting to collect money.
If I give you contract to build
hospital, I can’t tell you “take N1
million, I’m waiting for N2 million
tomorrow.” It’s not a way to plan
construction. You must gather
your building materials; you must
move men to site and so we
borrow from the bank. When the
money comes, the banks deduct
theirs,” he explained.
On whether he was leaving
behind a huge burden for the
incoming administration of Mr.
Akinwunmi Ambode, Fashola
said there was no such thing, but
argued that instead, the efforts
of his administration would
make governance easier for the
incoming government.
“I didn’t govern to leave
problem for my successor. And let
me say first of all that government
loses relevance when there are
no more challenges. The only
shaking up the South African
market as the first new entrant
in many years.”
“Although sales fell in
Nigeria, we improved both
revenues and margins thanks
to pricing actions in December
following the collapse of the oil
price and currency devaluation.
We are making a significant
investment to improve our
logistical capabilities and I am
pleased to report a much more
favorable fuel supply in the first
quarter of 2015.”
“We have invested for growth
in Africa and each new factory
that opens will generate good
returns for shareholders as
we deliver on our promise to
become Africa’s leading cement
company.”
Dangote Cement is Africa’s
leading cement producer
with three plants in Nigeria
and recently opened factories
in South Africa, Senegal and
Cameroon. It is a fully integrated
reason government exists is to
solve problems. I inherited my
own challenges; my successor
will inherit his own challenges.
But I can say what we expect
to see is that the job gets easier
as we move on. All of what we
have done here is to improve
the quality of what we met in
order to make it easier for the
next person.
“We have built stronger
institutions, we have strengthened
ministries, we have increased
revenue in order to meet
increasing demands, we
strengthened governance and
have given governance capacity
to respond to service needs. We
just set up a citizen relation
management platform on the
net to be more efficiently able
to respond to people using current
communication methods – the
internet and the telephone – but
every problem that we solve
creates a new problem. That is
life,” he said.
GOD TAKING CONTROL
L-R: Rivers State Governor, Chibuike Amaechi; and his wife, Judith; a state All Progressives Congress (APC) governorship candidate, Hon
Dakuku Peterside; his running mate, Mr. Asita Asita, during a special thanksgiving service by the Greater Together Campaign Organisation
to celebrate God’s faithfulness throughout the electioneering period in Port Harcourt ...yesterday
NAN
quarry-to-customer producer
with production capacity of
29 million tonnes in Nigeria
at the end of 2014.
The Cement Obajana plant
in Kogi State, Nigeria, is the
largest in Africa with 13.25
million tonnes capacity across
four lines. The Ibese plant in
Ogun State has four cement
lines with a combined installed
capacity of 12 million tonnes.
The Gboko plant in Benue state
has 4 million tonnes capacity.
Dangote Cement’s plants in
Senegal and Cameroun were
inaugurated in January this year
when they began production
and the company’s premium
42.5 grade was launched into
the markets in the two countries.
The Ethiopian and Zambian
plants have also begun
production as the company
inches close to its determination
to clock 40 million metric tonnes
per annum before the end of
2015.

66
MONDAY MAY 18, 2015 • THISDAY
NEWSEXTRA
Amaechi: Tough Times Await Wike in
Rivers
Insists security agents involved in electoral malpractice must be punished
Ernest Chinwo in Port Harcourt
Rivers State Governor, Hon.
Chibuike Amaechi, has declared
that the governor-elect, Chief
Nyesom Wike, was in for difficult
times as there would be no money
to run the state.
He stated that Nigeria was
lucky that Gen. Muhammad
Buhari won the presidential
elections, adding that his
administration would bring
the nation out of its financial
doldrums.
Amaechi spoke yesterday
in Port Harcourt at a special
thanksgiving service held by
the Greater Together Campaign
Organisation (GTCO), the
campaign outfit of the Rivers
All Progressives Congress (APC)
governorship candidate, Dr.
Dakuku Peterside.
The service, with the theme: ‘I
will bless the Lord,’ according to
the organisers, was to “Celebrate
God’s faithfulness throughout the
electioneering period.”
Amaechi said: “God answered
our prayers to save us. He also
answered our prayers to save
Nigeria. I’m not joking, we have
no money anywhere. In Rivers
State, no money. I think Nyesom
Wike is coming, we are waiting.
He will look for money for salary;
there is none. Luckily for us, we
endured these pains because we
had to pay our loans.
“We are enduring the pain
because we are paying our
loans. Maybe he is lucky because
we have paid out a lot of our
loans if not all. So, he will have
to manage. But when he pays
out salary, we will see if any of
them can do what we did in
this state: whether they can build
the schools, the roads, even to
get a loan.”
Amaechi also stated that no
security operative involved in
electoral malpractice in the last
elections in the state would go
unpunished.
He alleged that a newly
promoted Commissioner of Police,
Mr. John Amadi, who served as
Deputy Commissioner of Police
(DCP) in-charge of Operations
in the state, during the general
election, plotted to eliminate him.
His words: “I will say to all
of you that there is a man called
John Amadi, former Deputy
Commissioner of Police, who sat
down and ran a programme to
embarrass the APC and embarrass
the incoming federal government;
even after Buhari had won the
presidency. Now, to embarrass
us further, I hear he has been
promoted to a Commissioner of
Police and transferred out of Port
Harcourt. He will come back.
John Amadi will come back;
you will see. The only way he
will not come back is if we don’t
form government, but if we form
government, he will account for
his actions.
I’m Not Lobbying to Retain
Amnesty Job, Says Kuku
“After John Amadi, an
Assistant Commissioner of Police
in Khana said it is mutiny to take
on the federal government, and
sat down and fought APC as if he
was a PDP member. I don’t know
whether he has been promoted or
not, but if he has been promoted,
he will also come back. That one
does not require a judge. The
Inspector General of Police (IG)
can promote them as he wants;
he can even promote them up
Assistant Inspector-General of
Police, but they must all account
for their actions.
“John Amadi intended to kill
me and I will tell you how. On
my way to my village to go and
vote, I ran into some criminals
attacking an APC member and
I stopped. I stopped with the
intention to rescue the gentle
man and arrest those people, as
governor. I did not know that
they had given instruction to my
own security not to obey me.
“So, when I told the
policemen to arrest them, they
were just standing. On further
inquiries, I was told that we
were told not to go anywhere
they were voting. When I asked
the C4I to reinforce security,
John Amadi called them back
and asked them to leave there.
The only thing that saved me
and saved the situation was
that the Brigade Commander
sent in soldiers.
“The soldiers sent the
criminals away and the people
were speaking my language
saying, ‘somebody will die
here now’ and who was that
somebody, other than me?
My SSS men were watching,
my policemen were watching
and my life was at risk. I am
supposed to be the governor
of Rivers State; the so-called
Chief Security Officer.”
The Rivers governor however
recollected what he went
through in his quest, first to
become the Speaker of the state
House of Assembly and, later,
the governor and declared that
this was another moment of
trial for the state.
“The president-elect, General
Muhammadu Buhari, is a man
of rule of law. He will not punish
anybody without following due
process. Let us ask the incoming
federal government to punish
whoever contravened the law.
“What is happening in Rivers
State is not new; this is another
time of trial. Rivers people can
choose to pray and fast as we
did when I was to become the
Speaker.
“This is the time to call God
because without Him we are
going nowhere. I prayed and
fasted for 10 months while in
Ghana and God answered our
prayers.
“This time, though I will
join in the fasting and prayer
but I am not the governorship
candidate. My own is to thank
and appreciate God for what
I have become; from being a
Speaker to governor and now
soon a retiree,” he said.
Also speaking, the APC
governorship candidate in the
state, Dr. Dakuku Peterside, in his
testimony, said he and his party
faithful went through political
violence and turbulence during
the electioneering period and
thanked God that the casualty
was minimal.
The Chairman of the Presidential
Amnesty Programme, Hon.
Kingsley Kuku, yesterday
described as false a report in
a national newspaper, claiming
that he was lobbying to retain
his job under the incoming
administration of General
Muhammadu Buhari.
Kuku, who is also President
Goodluck Jonathan’s Special
Adviser on Niger Delta, said
the report was speculative,
highly provocative and that
of the imagination of the writer.
The Amnesty Programme
chairman said he was very
proud to serve Nigeria under
the outgoing administration of
President Jonathan and was
ready to leave with his boss
on May 29.
“As a Special Adviser and
Chairman, Presidential Amnesty
Programme, I served this country
for four years and four months
under President Jonathan. If it
was an elected four-year term,
the four months would have
been a bonus.
“I’m however proud of my
achievements and for lifting the
amnesty programme beyond
what I met on ground. I’m
leaving this office 200 per cent
better than what I inherited. I
therefore challenge my successor
to better my record,” Kuku said.
He stated further that such
reports were the handiwork of
political jobbers and spin-doctors
who had become uncomfortable
with his soaring profile and were
doing everything to tarnish his
image and discredit his record
of service to the country.
Contrary to the report, Kuku
said he had not met the All
Progressives Congress (APC)
chieftain and former Bayelsa
State Governor, Chief Timipre
Sylva, since 2012 and that the
last time he saw him was at a
wedding in Port Harcourt in
December 2014.
He also said he had not seen
the former Head of Service of
the Federation, Alhaji Yayale
Ahmed, since 2011 neither
has he held any meeting with
any APC chieftain as claimed
in the report.
“On May 29, I will leave
with President Jonathan. I
will continue to focus on my
peace and conflict resolution
assignments, which this job has
placed on my shoulders. I remain
undeterred by those embarking
on this smear campaign against
my person in order to discredit
the work we have done for this
country. My advice to all those
doing hatchet jobs, particularly
for some persons in the Niger
Delta, is for them to retrace
their steps.
“I also advise the APC
spokesman, Alhaji Lai
Mohammed, to save his breath
and his strength for the job ahead
of him rather than responding
to every illiterate comment,”
Kuku said.
PERFORING LAST MINUTE ASSIGNMENT
Minister of Education, Malam Ibrahim Shekarau (second left) inaugurating a project at the Federal Polytechnic, Nekede in Imo State...
weekend. With him are other dignitaries
Nan
Group Tasks Buhari on Criteria for Ministers,
N/Assembly Positions
Onyebuchi Ezigbo in Abuja
An anti-corruption group
operating under the aegis of
Zero Corruption Coalition has
asked president-elect, General
Muhammadu Buhari, to
ensure that all those being put
forward for key public offices
in the incoming government
are credible Nigerians without
corruption baggage.
The group reasoned that since
the fight against corruption is one
of the cardinal promises Buhari
made to the Nigerian people to
secure their mandate, he must
not compromise on the issue.
It suggested that those for
appointive positions should be
thoroughly screened if indeed
Buhari’s vision of leadership for
the country, anchored on ridding
the country of corruption is to
be realised.
In a statement issued
yesterday by Auwal Ibrahim
Musa Rafsanjani and Nwagwu
Ezenwa on behalf of seven civil
society groups, the coalition
demanded that for anyone to
qualify for public office in the
new dispensation, he or she
must have recorded high levels
of integrity both in his or her
public and private life.
According to the group, such
a person must never have been
convicted for corruption or
implicated in any corruption
case, nor have any allegation of
corruption or corruption charge
pending against him or her.
“Where such exists, the
nominee in question must first
ensure that he or she conclusively
clears himself or herself of such
allegations using existing official
channels before the process of
his or her nomination gets
on the way, including before
being presented to the National
Assembly for consideration.
In the same vein, the group
said Buhari should ensure that
the aspiring public holder must
also have declared he or her assets
publicly, adding “that this later
requirement aligns with his recent
comment, affirming commitment
to ensuring that this constitutional
responsibility is discharged by
yourself and by everyone that
would be nominated to work
with his administration, must
be done conscientiously and
made open to public scrutiny
in line with the requirements
of the Freedom of Information
(FoI) Act, 2011”.
The coalition said the
requirements should not be
applicable to only members
of Buhari’s cabinet, but also
extend to each and every person
that would be considered for
appointment into any public
office, under his administration.
It urged the incoming
government to also address all
forms of corruption in the tax
administration system, particularly
the abusive and arbitrary use
of tax incentives, leakages in
tax collection resulting in tax
avoidance, evasion and illicit
financial outflows would help
shore up domestic revenue
needed for development.
“With the successful conclusion
of the 2015 presidential election,
we heartily congratulate the
winner and president-elect,
Buhari . We believe his resilience
in keeping the faith, having a
firm belief in his vision of
leadership for our dear country,
anchored on ridding the country
of corruption, possibly spurred
him on to contesting on several
occasions for the nation’s exalted
office, until your recent victory.
“Nigerians voted for Buhari
and his party, because of the faith
and belief they have in Buhari and
his party’s mantra of “change”
coupled with his campaign
promise, to rid the country of
the cankerworm of corruption,
which in our humble opinion,
currently represents the greatest
challenge facing our dear nation.

MONDAY MAY 18, 2015 • THISDAY 67
NEWSEXTRA
Judge Asked to Hands off N5.2bn Suit
against CBN, Others
Davidson Iriekpen
Citing lack of confidence as well
as the unusual speed adopted
in the conduct of a N5.2 billion
suit filed by Dr Ted Iseghohi
Edwards against the Central
Bank of Nigeria (CBN) and five
others, the defence counsel has
asked Justice V. B. Ashi of an
Abuja High Court to hands off
the matter.
The defence led by Chief
Anthony Idigbe (SAN) in a
motion filed on May 15, is
seeking an order of court
transferring the suit marked
No. FCT/HC/CV/939/15 to the
Chief Judge of the High Court
in the Federal Capital Territory
(FCT) for reassignment to another
judge in the Abuja division of
the high court.
In the motion dated May
15 and filed the same day, a
copy of which was obtained
by THISDAY yesterday, Idigbe
queried the speed adopted by
the court in the conduct of the
suit and determination of the
various applications filed in the
matter as evidenced in the short
adjournments often sought by
the plaintiff and granted by the
court.
The motion brought pursuant
to Order 32 Rule 1 of the High
court (CIVIL PROCEDURE)
rules 2004 was supported by
an affidavit deposed to by Eric
Otojah, a legal practitioner, in
the firm of Punuka Attorneys
and Solicitors.
Apart from the application
for transfer, the defence is also
seeking an order staying the
ruling/judgment of the court to
be delivered today, pending the
determination of the motion on
notice for the transfer of the suit
and pending the appeal filed at
the Court of Appeal, Abuja.
The applicant also want an
order staying further proceedings
in the suit pending the hearing
and determination of the 6th
defendant’s appeal to the court of
appeal against the order/ruling
of the court delivered on May 14.
Also in the appeal filed last
Friday, the applicant is seeking
the setting aside of the order of
the court on the grounds that the
learned trial judge erred in law
when he refused to rule on the 1st
respondent’s (CBN) application
for amendment and held that
the ruling shall be made together
with the substantive suit.
The motion on transfer
was premised on what
the defence counsel
called observed proceedings
that the court adopted a quick
and hurried approach in the
determination of the various
applications filed in the court.
The applicant also queried
the judge’s stand that he would
not first of all rule on the various
preliminary objections filed
by the respective defendants
notwithstanding series of
applications and appeal to him to
first of all determine the issue of
jurisdiction raised in the respective
preliminary objections.
The applicant further queried
Justice Ashi’ s insistence that
all applications including the
preliminary objections be
taken and ruling/judgment
be delivered alongside the
substantive suit despite spirited
application and appeal to the
judge to vary his stand.
The counsel therefore argued
that given the sensitive nature of
the suit and the fact that the fund
in question emanates from excess
crude account, the matter should
not be handled in a hurry under
the guise of speedy dispensation
of the mater.
They also averred that on May
14, counsel to the sixth defendant
bank made spirited effort to
compel the court to vary its
stand as to the conduct of the
matter and passionately applied
to the court to first determine the
preliminary objections and the
plaintiff’s motion for amendment
in the least before proceeding
to hear the substantive suit but
the judge refused the application
for variation of its earlier order as
to taking all pending applications
and the substantive suit together.
Consequently, he argued the
court to adjourn the matter to
May 18, 2015, which technically
means the court has only 48
working hours to rush through
the processes filed to deliver its
ruling/judgment.
According to the applicant,
the judge had said in open court
that he had not read any of the
processes and yet he wants to
rule/judgment in 48 hours.
“The above stand of the judge
raises certain questions and issues
as to why the hurry especially
given the fact that hand over to a
new administration is scheduled
for May 28,” the counsel added.
Apart from the CBN,
others mentioned in the suit
filed by Dr Edwards are the
Accountant General of the
Federation, Mr. Jonah Otunla;
Minister of State for Finance,
Ambassador Yaguda, and a
second generation bank, while
Anaocha Local Government Area
in Anambra State and Incorporated
Trustees of Association of Local
Government of Nigeria were later
joined as defendants.
According to the matter,
the plaintiff claimed that in a
previous case before the Abuja
high court a certain company,
Impecca Services Limited, one of
the judgment creditors, briefed
him as counsel to recover the
outstanding balance of its
judgment debt.
Following the instruction,
the plaintiff acting as counsel,
initiated a garnishee proceeding
against the CBN, the Accountant
General of the Federation and the
Federal ministry of Finance and
the 774 local government areas
in Nigeria through their umbrella
organisation, Association of Local
Governments of Nigeria and not
against the sixth defendant bank.
The Abuja high court issued
a garnishee order absolute on
June 28, 2013, in favour of the
judgment creditors. It was the
plaintiff’s case that the court
ordered that the judgment debt
be paid through the plaintiff as
counsel on record.
Pro-Jonathan Campaign
Group Demands
Compensation
Shola Oyeyipo
A pro-President Goodluck Jonathan
campaign organisation, The 2015
Project, has threathened a legal
action to demand compensation
for its contributions to the just
concluded campaigns as a way
of paying off some of it debts.
In a statement, which was
accompanied with documentation of
some of its alleged contributions to
the presidential campaigns yesterday,
Bala Goje, who spoke on behalf of
the group, said bodies that were
not as visible as The 2015 Project
were being compensated while
they were ignored.
“We are planning a law suit
against Mr. Alaboso Joejim,
the head of the group, for
compensation. “We do not have
anything against him because I
was there and I saw him being
stranded with no help coming from
anyone and with debts owed in
millions of naira.
“However, we still hold him
responsible because he was or is
the reason for our commitments and
whatever payment or compensation
should have come through him.”
Bala, who is one of the brains
behind The 2015 Project campaign
group, lamented that it was being
neglected to the detriment of some
obscure groups, after the elections.
“The President Goodluck
Jonathan’s Ijaw ethnic group was
given N155million to share when
a pro-Jonathan campaign group,
which I worked for, The 2015 Project
was abandoned after months-inmonths-out
of consistent contribution
to the campaign processes,” said.
He alleged further that while they
had proofs to show their efforts
at contributing to the success of
the president second term bid,
which he eventually lost to General
Muhammadu Buhari of the All
Progressives Congress (APC), the
Ijaw group, which he claimed was
given N155m, does not have an
office
“I can categorically say that
this supposed group has no
office to trace their activities to
or any influence heard of. We
worked tirelessly, day and night;
professional workers in the media,
lawyers etc. about 25 of us left their
engagements, committed time to
this course with no compensation
whatsoever.
“Several times we tendered
complaints about neglect to
our patrons who are members
of the political elite but without
any response. No one said a thing
or even raised a finger. Complaints
was sent to Mrs. Diezani Alison
Madueke’s office and others, but
we didn’t get any reply.
“For eight months we worked,
slept on the floor, eat next to
nothing but still believed that
there will be light at the end of
the tunnel, but it’s still dark. I am
almost tempted to say and start
believing that there is some fraud
in this,” he noted.
PHONE FOR ALL
L-R: Managing Director/CEO, Osun State Investment Company, Mr. Bola Oyebamiji; Managing Director/CEO, Airtel Nigeria, Mr. Segun
Ogunsanya; Osun State Governor, Mr. Rauf Aregbesola; CEO, RLG Global, Mr. Alex Lu; and Regional Director, Mr. Tosin Ilesanmil, during the
launch of RLG phones assembled in Adulawo Technology City, Ilesha, Osun State... recently
CNPP Backs Buhari on Emergence of N/
Assembly Leadership
Onyebuchi Ezigbo in Abuja
The Conference of Nigerian
Political Parties (CNPP) has
expressed support for the
president-elect, Muhammadu
Buhari’s decision not to interfere
in the choice of the leadership of
the National Assembly.
It said any attempt by the
president-elect to endorse a
leadership for the legislature
would be antithetical to the
growth of democracy and
constitute a distortion to
the country’s parliamentary
democratic practice.
In a statement issued by its
National Publicity Secretary, Osita
Okechukwu, the CNPP urged
the president-elect to work with
the National Assembly not only
to enact law on whistle blowers
but also to fashion out how to
cut the cost of governance across
board, which is the costliest in
the world.
“We acclaim his stand-point
that he is not endorsing anybody
for the principal offices of the
National Assembly such as the
senate president and speaker.
Endorsement is antithetical to
the growth of democracy and
distorted our parliamentary
democratic practice since our
return to civil rule.”
CNPP urged the president-elect
to stick to his avowed stance
against corruption in order to
prevent the scourge from derailing
the country.
“We are re-stating our position,
because we have noticed some
looters of our commonwealth
milling around the Defence
House, the temporary office of
president-elect. To compound
matters, pundits are pushing
the narrative that Buhari should
let bye-gone be bye-gone and
move on, accommodate all
in his cabinet, hence a unity
government. The unity
government if necessary should
be devoid of corrupt men.
“Whereas, courtesy demands
that the good, bad and ugly
will pay courtesy call on the
president-elect; however it is our
considered view that some of
these looters should be kept at
bay. These are the same ignoble
men who wittingly misled
President Goodluck Jonathan,
who grow mega-rich, widen
the inequality in the land and
pushed the greatest number to
abject poverty.
“For us, Nigerians voted for
Buhari on two broad social
contract unambiguously stated
in his covenant with Nigerians
- corruption and security. These
are the integrity premium on which
our votes are anchored and we take
solace on the truism that Buhari
cannot risk dashing the hopes of
Nigerians.
“History posits that the past must
be probed in order to not only
recover the huge billions stolen
from our commonwealth, but
to also act as deterrent to others,
who are lurking in the wings to
continue the pervasive corruption
in the land.
On Buhari’s pledge in his
covenant with Nigerians to
inaugurate the National Council
on Procurement, we page with
him; albeit we propose that the
headship and membership of
the council be amended before
composition. Recent experience
shows that the absolute powers
wielded by the out-going Finance
Minister, Dr Ngozi Okonjo-Iweala
allegedly corrupted her absolutely
and made a mess of the two
regimes she served in the last
decade.
“It was a case of an innocent
novice zoologist entrusting
much economic powers on
a highly celebrated World
Bank Economist and looking
the other way, in the hope that
she knows best what is good for
Nigeria. There is no need to repeat
this ugly experiment, because
it is too costly and damaging.
CNPP suggested that the
National Council on Procurement
should be headed by those whom
the president-elect has implicit
confidence on, manning no
ministry, department or agency,
except the council. There should
no distraction.

68 MONDAY MAY 18, 2015 • THISDAY
NEWSEXTRA
Start Your Anti-corruption Campaign with
EFCC, Uboh Tells Buhari
Tobi Soniyi in Abuja
An anti-corruption crusader and
Chief Executive Officer of Panic
Alert Security System (PASS), Dr.
George Uboh, has called on the
president-elect, Major General
Muhammadu Buhari (rtd), to
start his anti-corruption crusade
with the Economic and Financial
Crimes Commission (EFCC).
In a memorandum submitted
to Buhari, a copy of which was
obtained by THISDAY Uboh
alleged that the commission sits
on hundred of billions recovered
from perpetrators of corruption but
refused to remit the funds to the
federal government as required
by law.
He said he was compelled to
write to the incumbent president,
Dr. Goodluck Jonathan drawing his
attention to the alleged atrocities in
the EFCC but said that Jonathan
did not do anything.
Excerpt from the letter read:
“In view of your commitment
to integrity, we are of the view
that the first place to start your
anti corruption campaign is the
EFCC.
“First, such a move will boost
the public’s confidence in your in
herent desire to fight corruption.
Second, many people who had
been silenced by EFCC using
gestapo-style powers will come
forward to testify.
“Attached herewith are:
the documents we sent to the
president, to wit: open letter to
the president and 51-count criminal
charges against the present and
former leadership of the EFCC
and all aforementioned documents
germane to Bayelsa/EFCC saga;
we are ready, willing and able
to tender boxes of documents to
prove each and every count of
the 51-count criminal charges.”
He cited the case of Bayelsa State
where EFCC claimed in its exhibit
record that the amount recovered
from a former governor of the
state, DSP Alameyesiegha and due
for remittance to the state was
N4,152,344,643 and USD1,300,000.
He said: “As at 18/01/2010
when EFCC remitted
N3,128,230,294.83 to Bayelsa state
vide EFCC recovery account NO.
002-00893-s41-01-7 with CBN.
Consequently, EFCC still owed
Bayelsa state N1,484,965,806 and
$1,300,000 as at the time of the
remittance.”
According to him, what is
recorded in EFCC’s exhibit book
is a fraction of what was taken
from DSP. Most of the cash and
assets seized from DSP abroad
by the EFCC never declared on
the exhibit record.
He recalled in the letter that the
incumbent governor of the state
mandated him to recover from
EFCC the outstanding money
recovered from Alameyesiegha
following which he wrote the
commission and the commission
agreed to meet him.
“At the meeting, Mr Lawrence
Iwodi, EFCC Head of Asset
Forfeiture agreed to refund the
said balance before the beginning
of 2014.” Uboh explained to Buhari
that EFCC using a gestapo-like
style coerced the state governor to
withdraw the mandate to recover
the fund.
According to him, EFCC did
not deny holding on to funds
belonging to Bayelsa but rather
threatened the state governor
who wrote to him terminating
the mandate given to him to
recover the withheld funds.
The letter further reads: “We
wish to bring to your attention
the urgent need to start your anti
corruption campaign with a probe
of the EFCC.
“Although, EFCC withheld
funds belonging to the federal
and some state governments,
we decided to start from Bayelsa
State, the president’s own state. “
Kwara Group Urges
Nigerians to Support Saraki’s
Senate Presidency Bid
Sunday Okobi
A group of Kwaran State elite,
comprising various professionals
including Islamic scholars, has
expressed support for the senate
presidency ambition of the former
Governor of the state, Senator
Bukola Saraki, calling on Nigerians
to also support his bid.
The group which organised
a special prayer in honour of
the senator at a central mosque
at Obalende, Lagos, recently
commended everybody who
attended section and prayed to
Allah to accept all the offered
prayers to soften the minds of
all other distinguished Senators to
vote, accept and support Saraki’s
ambition.
The Chief Imam of the
Mosque Al-Sheik-Al-Islam,
Alhaji Babatunde Shehu, prayed
to Almighty Allah to protect, guide
and elevates the senator above his
pears especially as he pursues the
senate president seat.
Also, the spokesman for
the organising group, Alhaji
Mohammed K. Dauda, said Saraki
is the most qualified distinguished
senator to man the number three
Support Akume’s Bid for Senate
President, Mark Told
Adebiyi Adedapo in Abuja
Political leaders from Benue
State, under the aegis of Benue
Rebirth Initiative, have appealed
to the Senate President, David
Mark, to support Senator George
Akume as his successor.
The group in a communiqué
issued at the end of their
inaugural meeting at the
weekend in Abuja, jointly
signed by Joe Ikyaagba and
Sam Ode, identified the key
issues which have continued
to drag the state backward
particularly in the national
stage.
According to the
communiqué, an average
Benue man sees his fellow
brother as an enemy, as the
group thereby appealed to all
seat of the country “because he is
well read, exposed, experience and
capable to stand up at all times
for the interest of common men
and the nation at large.”
Dauda said it was Saraki
who first raised the issue on oil
subsidy, and also led the defected
Peoples Democratic Party (PDP)
governors about a year ago to All
Progressives Congress (APC). This
action, he said: “Helped APC a lot
in getting to where they are today
and it also led to the beginning
of PDP destruction. He delivered
Kwara State and the Middle Belt
to the APC as demonstrated in
the presidential election for the
first time in history.
“Finally, no Kwaran has
ever been opportune to assume
this position since inception of
democracy in Nigeria, and we
therefore appeal to the entire senate
members to give Saraki and all
Kwarans the necessary support
to win the prestigious seat.
“We implore all Nigerians
especially the Senators to rise
and support him in his bid for
the highest seat in the National
Assembly. May Allah make this
a reality for us all, amen.”
stakeholders to sheath their
sword and embrace unity of
purpose.
The political leaders in the
state also want Mark to take a
clear stance on the race to the
senate presidency, saying his
position was important and that
his support would add value
to Akume’s emergence as the
next senate president.
“We enjoined our brother who
have walked this road before
and has built the necessary
bridges to enable his fellow
brother continue.
It is imperative that at this
auspicious time where his silence
means so much, we expect that
he takes a definite stance just as
he is not known to be one who
sits on the fence,” the Benue
group appealed.
WHAT ARE YOUR AREAS OF NEED?
L-R: Assistant Inspector General of Police (AIG), Zone 9, Umuahia, Mr. Usman Gwary; Inspector General of Police (IG), Mr. Solomon Arase;
and Anambra State Governor, Chief Willie Obiano, during the visit of the IG to the Governor’s Lodge, Awka... weekend
Aregbesola Lauds Airtel’s
Contributions to Job
Creation
Osun State Governor, Rauf
Aregbesola, has commended
Airtel Nigeria for its support to
local content development, saying
the telecommunication is helping
to power the state’s job creation
drive.
The governor who was speaking
yesterday at the RLG Product
Discovery Day held at RLG
Adulawo Technology City, an
expansive technology city located
along Ilesa-Akure Expressway,
Osun State, said Airtel had thrown
its full weight in support of local
content development, establishing
retail footprints across the country
and boosting job creation.
“Airtel has supported a
significant breakthrough for
the Adulawo Technology City,
supporting the provision of jobs from
end-to-end – from the technicians
in the Adulawo Technology City to
those working in the Airtel retail
pipeline,” he said.
Describing the multi-million
dollar technology city initiative
as a historic monument to the
power of vision, the governor
also revealed that the tech city
had, in the last one year, provided
direct employment to 150 Osun
indigenes and was poised, within
the next phase of its operations,
to provide employment to 1,500
sales persons, who would man
kiosks and other sales outposts
for RLG products.
According to him, the RLG
plant are manned by graduates
of the Osun Youth Empowerment
Technology (OYESTECH) trained
by RLG, and were the ones who
assembled the beautiful products
displayed by the tech company.
Thanking those in attendance,
the governor stated that the Osun
flagship e-learning device, Opon
Imo would be manufactured from
the plant to fulfill the needs of the
public schools in the state after
which, orders from other states
will be entertained.
Also speaking at the event,
the Chief Executive Officer and
Managing Director of Airtel
Nigeria, Segun Ogunsanya,
said Airtel believes strongly in
supporting local development and
in providing more opportunities
for job creation.
According to him, the company
has invested enormously in
building a large eco-system for
local content initiatives through
its broad-based programmes and
initiatives.
“Interestingly, the youths are the
biggest beneficiaries of our local
content initiatives. Only recently,
we floated an initiative, Catapulta-Startup,
with the overriding
idea of providing youths with a
strong platform, robust funding
and right partnerships to build
local applications that will help
transform lives, shape public
service and build a better society
for all of us.”
Oil Platform: Ijaw Youths
Draw Battle Line
Segun Jams in Yenagoa
The Ijaw Youth Council
(IYC) yesterday reacted to
the controversy between the
presidency and the owners of
the multi-million dollars Egina
Floating Production Storage
and Offloading (FPSO) facility
over the decision of the federal
government to relocated the
fabrication activity from LADOL
yard in Lagos to Agge in Bayelsa
State
The youths said they would
not allow materials fabricated in
Lagos to be used on the platform
in the Niger Delta region.
The IYC reaction was
subsequent to the interim order
of the federal high court in Lagos
stopping the federal government
from implementing the directive.
According to the IYC in a
statement by its spokesman,
Eric Omare, “We want to
make it clear that whether court
injunction or no court injunction,
we would not allow materials
to be fabricated in Lagos and
used to build oil platform in the
Niger Delta region. The region
has been taken for granted for
too long and we would no longer
accept it.
“The IYC and indeed the Niger
Delta people back the directive
of President Goodluck Jonathan
to move the fabrication of oil and
gas materials to the Niger Delta
region where the eventual job is
to be done. We also support the
directive to move oil and gas
cargoes to only ports in Warri,
Calabar and Onne. This is not
only in line with the requirement
of the local content law but is
also makes so much economic
sense.
“It is common knowledge
that Lagos is highly congested
and there is need to move some
class of cargoes especially oil and
gas materials to ports within the
Niger Delta region where the
oil facilities are located.
“We consider the opposition
to the presidential directive and
the attendant media propaganda
by the Lagos cabal as an insult
on Niger Deltans. It is on record
that all the oil companies operating
in the Niger Delta region have their
offices in Lagos to the detriment of
the Niger Delta economy.
“Henceforth, Niger Deltans would
take steps to ensure that any oil
company without its headquarters
in the region would not be allowed
to operate in the region. The IYC
frowned and condemn the ex-parte
order of the federal high court.”
The group further said: “We
wonder how the federal high court
would hurriedly grant such an order
without giving opportunity to other
parties to present their own side of
the case. We question the swiftness
of the order of the court and call
on the National Judicial Council
(NJC) to investigate the judge
who granted the order.”

MONDAY MAY 18, 2015 • THISDAY 69
NEWSEXTRA
Eviction: Nwobodo Criticises Court Verdict, Says
It Erred in Law
Adedayo Akinwale in Abuja
Following a court injunction by
a Federal Capital Territory High
Court in Abuja, ordering him to
vacate his rented apartment in
Maitama, the former governor
of old Anambra State, Senator
Jim Nwobodo, has criticised the
verdict, saying the court erred
in law.
Counsel to the former senator,
Amobi Nzelu, disclosed this at
a press briefing yesterday in
Abuja, where he revealed that
his client had been residing in
the property situated at 24 Ona
Crescent, Plot 768 Cadastral Zone
A5, Maitama, Abuja since 2001.
He stated that he was surprised
that the respondent decided to
release the judgment to the press
after two months, while refusing to
inform the media that he had gone
to appeal against the judgment.
The plaintiff, Adin Miles
International Limited, had
sometime in 2008 bought the
property from one Alhaji Al-
Mustapha Abubakar who had
earlier leased the property to
Nwobodo.
According to Nzelu, “It is not
about non-payment of rent as was
wrongly reported in the media.
My client was ready to pay rent.
He was negotiating for an outright
sale. The man that bought this
property is a fellow Igbo man
and knew that my client was
occupying this house and that
he was his former governor.
“Despite knowing these facts, he
still went behind and bought the
property, and then told his lawyer
not to disclose his identify to my
client. That was what happened.
A Yoruba man will not do this to
his brother, an Hausa man won’t
do this to his brother. My client
had an agreement with the person
that sold the house. We do not
have any business with the new
buyer. I have raised the issue in
court, but the Judge closed his
eyes on these issues,” he added.
In an appeal with suit No. FCT/
HC/CV/80/2011 and filed at the
Abuja Division of the Court of
Appeal by his counsel (Nzelu), the
ex-governor asked the appellate
court to set aside the judgment
of the lower court delivered on
March 25 2015 by Justice Suleiman
Belgore, in favour of the plaintiff,
Adin Miles International Limited.
He noted: “The learned trial
Judge erred in law when he
failed to appreciate the fact that
for title to vest in any person who
Nwoga: Why Enugu APC is
in Crisis
Christopher Isiguzo in Enugu
A chieftain of the All Progressives
Congress (APC) in Enugu
State and Enugu East Zonal
Vice-Chairman, Anike Nwoga,
yesterday attributed the cause of
the lingering crisis rocking the
party in the state to the intense
lobby for federal appointment
in the incoming administration
for president-elect, Muhammadu
Buhari, accusing the party’s
chairman in the state, Ben
Nwoye, of running the party
as a personal empire.
He also faulted the recent
courtesy visit by a faction of the
party to the former Minister of
Power and a Peoples Democratic
Party (PDP) chieftain, Professor
Bart Nnaji, noting that the visit
was not endorsed by the party’s
State Working Committee (SWC).
Addressing journalists
yesterday, Nwoga maintained
that there was more to the visit
than the eye could see, stressing
that if indeed the party wanted
to embark on membership drive,
it must not start with PDP
chieftains.
“We are not against the visit
to Professor Bart Nnaji. He is
our son. He is a son of Enugu
East senatorial zone and he is a
son of Enugu State and son of
Nigeria, a prominent one. We
are not against any visit to him
or any other prominent person
in the zone.
“But what we are against is the
way it was done. Ben Nwoye,
who is the Chairman of the
party went on his own without
telling anybody. The SWC is not
aware. The SEC is not aware. This
happened on the ninth of this
month. Then on the 11th of this
month which was Monday, we
had the state executive meeting,
an enlarged one.
“And when we were meeting
at the office of the state chairman,
the matter came up. Many of us
opposed that visit. As we were
holding that meeting, they had
planned to visit Jim Nwobodo
after the meeting. We said no,
that we object to it. Why should
he be visiting people who are
PDP members? Are they APC
members? He should know why
the visit is going on,” Nwoga said
The Vice-Chairman said even
if they wanted to visit people
in Enugu State, the first person
he thought APC Enugu State
should be grateful to and pay
a courtesy visit is Chief Maduka
Onyishi, the owner of Peace Mass
Transport, who provided them
shelter.
Nwoga recalled that Onyishi
provided the State and local
government offices which they
are occupying now until he left
them and went back to his PDP
when they threatened him.
Nwoga said they also owed a
lot to Chief Onyemuche Nnamani
who put in big money in the
Buhari campaign and donated
more than 16 of his vehicles,
branded with Buhari and his
deputy, Yemi Osinbajo.
“These are people we should
pay courtesy visits and it must
be discussed. But because Ben
has been running the party as
his private company. He does it
the way he wants. That is why
we were against this visit. We are
not saying that anybody should
not enter the party. APC belongs
to everybody. But the question
is; these VIPs that want to enter
now, where were they when we
were suffering?”
He advised the chairman to
heed the timeless adage that
charity should begin at home
and forthwith desist from using
Professor Barth Nnaji and Chief
Jim Nwobodo as canon fodder
for the crisis in the party.
purchase a property in Abuja, the
consent of the Hon. Minister of
the FCT, Abuja must be sought
and obtained and this failure
occasioned miscarriage of justice.
“The learned trial Judge erred in
law when he entered judgment in
favour of the respondent without
seeing any deed of sale nor deed of
assignment nor power of attorney
and this occasioned miscarriage
of justice,” Nzelu stressed.
He revealed further that the
Judge also erred when he assumed
jurisdiction to hear and determine
the case in the absence of valid
documents that would vest/cloth
the court with jurisdiction.
Nzelu explained that, “we
have been in possession of this
property for a long time and the
owner made an offer to sell it. He
now went behind and picked up
this property. My client went and
discussed with this man. He even
added N30 million to what the
man originally paid to acquire it.
When we took over this property,
it was in a bad shape.
“We now went to court and
the judgement was to come up
in January this year, but it was
deferred till March 25 because of
the judiciary workers’ strike. The
man that went is not the original
owner of this property. There was
no breach of agreement between
my client and him and they are
not my client’s landlord. There was
no deed of sale on this property
before they went to court. There is
no agreement between my client
and the man that went to court.”
Nwobodo pointed out that, six
days after the judgment, specifically
on March 31, he appealed against
it adding that the respondent was
served the processes and motion
for stay of execution, for which
his counsel responded.
He prayed for “an order of
this Court allowing this appeal
and an order of this Court setting
aside the judgment of the trial
Court delivered on March 25,
2015.”
CONGRATS SIR
An All Progressives Congress (APC) leader in Delta State, Mr. Emmanuel Ewherido, in a handshake with the president-elect, General
Muhammadu Buhari, during the Delta State APC’s visit to Buhari in Abuja...recently. With them is the Delta State APC governorship
candidate, Olorogun O’tega Emerhor
Speakership: North-east Legislators Concur on
Gbajabiamila-Monguno Ticket
Muhammad Bello in Abuja
The quest by the Minority Leader
of the House of Representatives,
Femi Gbajabiamila ( APC Lagos),
to become the Speaker of the 8th
House got a significant boost
as the North-east caucus in the
House openly supported him
at the weekend.
The new ballgame that arose
from the development was also
a drive towards a partnership
between Gbajabiamila and
Hon. Mohammed Tahir
Monguno (APC, Borno).
The caucus agreed to do this
at the close of a meeting at the
weekend in which members from
five North-eastern states were
present.
If the proposal pulls through,
it means Monguno would
step down from his contest
for the number four seat and
run as Deputy Speaker with
Gbajabiamila. It will also mean
that the duo have so far secured
more than 50 votes preparatory
for the June 6 election.
This will reduce the number
of aspirants for the number one
position to eight. The candidates,
so far are: Gbajabiamila, Hon.
Abdul-Mumini Jibrin (APC,
Kano), Hon. Yakubu Dogara
(APC, Bauchi), Hon. Pally
Iriase (APC, Edo) and Prof.
Mojeed Alabi (APC, Osun).
The others are: Hon. Israel
Famurewa, Hon. Adams Jagaba
and Hon. Muhammad Gudaji
(APC, Jigawa).
A couple of weeks ago, 20
out of the members of the
North-central caucus resolved
openly to support Gbajabiamila.
They signified their intents by
taking paid advertisements to that
effect in some national dailies.
Apart from these and other
northern elements drumming
support for Gbajabiamila to
become the next Speaker of the
House, some individual new and
old members of the House from
the North-west and other states
are not left behind.
Some of them are: Aliyu Madaki
(Kano State), Muhammed Sani
(Bauchi State), Magaji Aliyu
(Jigawa State), Ahmed Kaita
(Katsina State) and Abdullahi
Garba (Niger State).
All of them were unanimous
in their views that a vote for
Gbajabiamila is a reciprocal
gesture to the people of the
South-west zone who voted in
large numbers for President-elect,
Gen. Muhammadu Buhari.
However, Monguno, who
had a marathon meeting with
legislators from his zone, the
North-east, mobilised 36 out
of the 48 members from the
region’s caucus, after meeting
in Abuja, resolve to back him
and also support Gbajabiamila.
This is in anticipation of a
possible ratification of the APC’s
proposed zoning arrangement
which as at now points to the
position of Speaker being given
to the South-west.
Members-elect from the Northeastern
Caucus who endorsed
the duo of Gbajabiamila and
Monguno are: Sadiq Ibrahim,
Yusuf Buba, Abdulraman Shaibu,
Philip Gutuwa, from Adamawa;
Muhammed Sani Abdu, Lawal
Yahayah, Tata Omar, Isa Hassan
Mohammed, Ibrahim Baba,
Mohammed Gololo, Salisu Ningi,
Musa Aliyu, Ahmed Yarima,
Adamu Gupai, from Bauchi;
while Mohammed Nur Sheriff,
Mahmud Lawan, Mohammed
Sanda, Dr Asabe Bashir, Mallam
Bukar Gana, Abdulkadir Rahis,
Ayuba Mohammed Bello,
Mohammed Tahir Monguno and
Jibrin Satumari are from Borno.
The remaining lawmakers
who appended their signatures
to the document supporting
the Gbajabiamila-Monguno
partnership are: Khamisu Ahmed
Mailantarki, Binta Bello, Ustaz
Yinus, Umar Barambu, Ali Isa
JC, from Gombe; as well as:
Goni Bukar Lawan, Khadija
B.A. Ibrahim, Ismaila Gadaka,
Yau Galadima, Sidi Yakubu and
Sabo Garba from Yobe State.
It was learnt that legislators
from Taraba State stayed away
from the week-long meeting
which was segmented into three
during the week and held at
Transcorp Hilton hotel in Abuja.
Hon. Goni Bukar Lawan
(Yobe), told journalists after
the meeting that their decision
was predicated on the subsisting
political reality in the country
in addition to the fact that in
advanced climes when the
minority party ascends to become
the majority party, the Minority
Leader automatically becomes
the Majority Leader too.
He explained: “We cannot
look for any leader, because
even before we took over the
government he was our leader,
and today we’re in the position.
That’s why we decided to take
our leader, Femi Gbajabiamila,
to be our Speaker, and for Hon.
Mungonu to be our Deputy
Speaker by the grace of God.”He
said Monguno’s decision to step
down was informed by the
counsel of Governor Kashim
Shettima of Borno State. “We
have a project before Yobe
State. Senator Ahmed Lawan
is pursuing the position of Senate
President of this country, in that
respect we cannot have one state
produce two candidates, one
looking for the post of Speaker
of the House of Representatives
and another Senate President.”
“For us that’s not in order.
That’s why after the consultations
and discussions, we arrived at
supporting Femi Gbajabiamila
when the party zones the
speakership to the South-west.
“Whatever position I am
looking for, I should step it
down. We are now one and
all of us are working for the
progress of the North-east.”

70 THISDAY•MONDAY MAY 18, 2015
MONDAYSPORTS
Group Sports Editor Duro Ikhazuagbe
Email duro.ikhazuagbe@thisdaylive.com
IAAF DIAMOND LEAGUE
Okagbare Takes the Gold in Shanghai
Duro Ikhazuagbe with agency
report
Africa and Commonwealth
sprint champion, Blessing
Okagbare, sign-posted what
to expected at this year’s
IAAF World Championship in
Beijing, China when she won
the Shanghai leg of the 2015
Diamond League yesterday.
Okagbare did it easily, beating
last year’s world leader, Tori
Dinkesa Blames Poor
Okpekpe Race Outing on
Hot Weather
Duro Ikhazuagbe
Three-time Obudu Mountain
Race champion, Ethiopian Abebe
Dinkesa at the weekend blamed
his inability to finish in the top
20 of the 3rd Okpekpe 10km
Road Race on the hot weather
condition of the day.
Abebe who along with his
Ethiopian Dawi Fikadu were
tipped as favourites for the
Okpekpe $25,000 top prize
failed to reproduce the feat
that made him a household
name in half marathon in the
continent. Fikadu placed ninth
in 30:18mins in the race Kenya’s
Alex Korio Olotptip won with
29:20mins while Ethiopia’s Leul
Gabrasilasis (29:22) and Amos
Muteh of Kenya (29:24) were
second and third respectively.
Dinkesa told THISDAY while
receiving treatment from medical
personnel that the weather was
too hot for him.
“You see (pointing at his
soaked top, short and aching
leg) not good. Hot weather, bad,”
muttered Dinkesa who finished
as first runner behind Kenya’s
Kemboi Hilary Kipkorir on this
same course last year.
Asked if he was coming
back next year, he smiled and
nodded in affirmation. Of course
the $25,000 top prize money
appears too tempting to ignore
in just a 10km race.
But before then, the 2008,
2010 and 2012 Obudu Mountain
Race champion admitted
he would return to Nigeria in
late November to hunt for the
dollars on offer in Obudu Resort.
“I will come to Obudu.
Weather better than this,”
stressed Dinkesa with finality
as he was been chaperoned into
the assigned bus for the invited
foreign athletes by Nigeria’s best
quarter miler of all times, Falilat
Ogunkoya-Omotayo
In the female category of the
Okpekpe race, Kenya’s Tanui
Nkele led the strong field in
33:34 to claim the top prize while
her compatriots Rino Ripo (33:52)
and Mary Wasera (34:31) made
it a 1,2,3 clean sweep for the
visitors from Nairobi.
The first prize winners in both
the male and female categories
went home with $25,000 each,
while the second and third prize
winners got $15,000 and $10,000
each in both the male and female
categories.
Edo State Governor, Adams
Aliyu Oshiomhole, fresh from
marriage with his Cape Verdes
Bowie, by almost a metre, 10.98
to 11.07. Jamaican Olympic
champion Shelly-Anne Fraser-
Pryce trailed home in fifth place.
“My race was pretty good,”
Okagbare said after the race. “It
is not easy to compete with the
best of the world – but I won. I
focused on my start. Normally
I don’t have the best start, but
now I was leading from the
beginning.”
Barely a fortnight ago, Okagbeau,
Lara, the previous day
finished top in the VIP race in
88 mins.
“I want to congratulate myself
just as the winner congratulated
himself because doing the 10km
after all the activities of yesterday
(his marriage ceremonies) reassured
me that I am still fit. I
want to congratulate all those
who have participated in this
year’s edition. I congratulate of
course those who are going away
with prizes, but we should even
congratulate more those who are
not going away with prizes but
who participated in this exercise.
I think I am one of those who
will not be going away with a
prize in spite of my effort,” joked
Oshiomhole who was very happy
for the international exposure the
race has created for him and the
Okpekpe community.
“I am excited that Okpekpe
community is not only now on
the world map but people from
various parts of the world, from
various countries from various
continents are now participating
actively in what has become
known as the Okpekpe Annual
10Km race and we saw that this
year we have more participants
than previous years and by logic,
we will expect that every year,
more and more people will
participate in it,” he noted.
Oshiomhole insisted that his
administration’s investment in
opening up rural Edo State
communities through massive
construction of modern roads
has continued to yield positive
results.
“For me, this is one practical
way to remind all of us that there
is life outside urban city and that
the real Nigerians, the forgotten
majority are in our rural areas. So
Okpekpe people I congratulate
you for playing host to all of
us,” concludes the Edo State
chief executive who also used
the occasion to call on those in
the hospitality industry to come
over and invest in hotels and
other areas in the sector.
42 athletes from 15 countries
participated in the 3rd Okpekpe
race that received IAAF Bronze
Label status late last year.
Amongst the dignitaries that
watched the race was Mrs
Lara Oshiomhole, the newly
married wife of the Edo State
governor Nollywood stars
like Kanayo O. Kanayo,
Desmond Elliot, Aki and
Pawpaw famed actor, Osita
Iheme, Mbaka Ofia Afuluagu
and several others.
bare, led the Nigerian quartet
of Regina George, Dominique
Duncan and Christy Udoh, to
win the 4x200m gold of the
Bahamas Relay.
Fraser-Pryce was not
overly concerned with her
11.25 opener.
“It was one of those races,”
she said. “I have time to get
it right.”
Asked if she would now have
L-R: Edo State Governor, Adams Oshiomhole; Kenyan runners, Amos Mitel and Korio Alex Olotptip; Leul Gabrasilasis of Ethiopia and Representative
of the Group Managing Director/CEO of Heritage Bank, Mr. Ifie Sekibo at Okpekpe, Mr. Emeke Anene at the prize presentation
ceremony of the 3rd Okpekpe 10km Road Race…last weekend
CBN Tennis Main Draw Serves off Today
After two days of qualifying
rounds, the Main Draw of the
37th Central Bank of Nigeria
Senior Open Tennis Championship
will get underway today
with no fewer than 40 players
listed for action.
Nigeria Tennis Federation
Secretary General, Gloria
Ekwepmu disclosed that the men
are to compete in the round of
64 while the main draw for the
NESTLE MILO BASKETBALL
her work cut out in defending
her title in Beijing later in the
year, Fraser-Pryce said: “I always
have my work cut out. No
one hands anything to you.”
Jeff Henderson led the men’s
long jump from the first round
to the fifth, his 8.26m coming
on his first attempt.
Russian Long Jump star,
Aleksandr Menkov, worked
his way into contention, his
ladies is 32.
There will also be a round of
32 for the men’s doubles while
the ladies will compete in round
of 16.
Ekwempu stated that everything
is set for what would be a
memorable championship which
is featuring a high number of
participants.
“As it has been the tradition,
we got a very high number of
winning jump coming in the
fifth round. Both Chinese
jumpers had their best efforts
in the fourth round in
a competition that swung any
number of ways.
Olympic champion Greg
Rutherford finished seventh
with 8.05m on his first-round
attempt, his lowest placing
in a final since July 2012. The
remainder of his series was
entries and we are glad that the
qualifying matches are almost
completed, she said on Sunday
afternoon,” she said.
Meanwhile, Nigeria’s secondranked
female player Sarah
Adegoke is confident she can go
all the way to claim the top prize
in the singles to help her reclaim
her top ranking which she lost to
Christy Agugbom late last year.
Adegoke fell to debutante
four fouls and a run-through
6.52m.
Caterine Ibarguen led the
women’s triple jump from
start to finish, showing remarkable
consistency early in
unpredictable wind conditions
– 14.68m, 14.70m, 14.68m
and 14.71m on her first four
jumps, before nearing her
world lead with 14.85m in
the fifth round.
Elizabeth-Garos- Pam in the
semifinal last year and Pam went
on to lose to Agugbom which
saw her rose considerably on
the rankings.
“I’m in good shape and I’m
looking forward to win the CBN
which has been my long-term
dream,” she said.
The men and women’s champions
will receive N700, 000 while
finalists will get N500,000
Yejide Girls Set, as Lagos, Oyo Dominate
Western Conference
Yejide Grammar School Ibadan
Oyo State, which has picked the
first semi final ticket in the girls
category at the ongoing Western
Conference playoffs in the Nestle
Milo Secondary Schools Basketball
Championship taking place in
the indoor sports hall of Liberty
stadium, Ibadan.
The hardworking Ibadan side
defeated Queen Elizabeth School
Ilorin, Kwara State 53-05 points.
Team coach, Yemi Abiodun,
praised his girls for their resilience:
“I asked my players to take it
easy and play their normal
game without underrating the
opponent,” he remarked after
the match.
Also Zeal College Otta, Ogun
State silenced highly rated
Ugborikoko Secondary School
Warri, Delta state by 10-08.
In the other quarter final
matches, Anglican High school
Ado Ekiti, defeated Regina
Mundi Girls Secondary school,
Iwo, Osun State by 52-05, while
Wesley Girls Senior of Lagos state
over powered Queen of Rosary
CollegeOnitsha, Anambra state,by
56-08.
The semi final matches are
billed for today at the same venue
with hosts, Yejide Grammar School
Ibadan confronting Wesley Girls’
Senior Lagos, While Zeal College
Otta,representing Ogun State, will
take on Anglican High School
from Ekiti State.
In the boys’category, Don Domingo
Secondary School Warri, defeated Ado
Grammar School Ekiti by 28-15, while
Government Secondary Ilorin, Kwara
State sent host boys Loyola College
Ibadan packing by 37-33. Lagos
and Ogun state walked over their
opponents from Anambra and Osun
State respectively in the other quarter
final match. The Anambra and Osun
boys teams were disqualified during
the screening exercise.
The semi final pairings in the boys
category are Lagos versus Kwara in
first semi final game and Ogun State
versus Delta state also today.
Leopards Devour Warri
Wolves in Congo
Nigeria last team standing in
continental campaign his year
Warri Wolves yesterday lost 0-3 to
Congolese club, AC Leopards in the
first leg of their playoff round tie in
the 2015 CAF Confederation Cup.
Wolves started in lethargic fashion
at the Denis Sassou Nguesso
Stadium, Dolisie and were soon
trailing as Mohamane Cisse
smacked home in the seventh
minute.

THISDAY•MONDAY MAY 18, 2015
MONDAYSPORTS
71
2014/15 SEASON
Pillars, Enyimba Win on the Road as the
Big Boys Signal Return
Glo Premier League ‘big boys’,
Kano Pillars and Enyimba
International showed up on the
road claiming all three points in
their respective fixtures on Match
Day 9 yesterday which saw leaders,
Sunshine Stars grinding out a draw
in Lafia. Sunshine Stars are now
tied on points by Gabros FC and
Wikki Tourists, 1-0 winners in their
home games that brought their
total tally to 17 points.
Four home wins, two wins on
the road, three draws and a total of
13 goals including two own goals
summed up activities of Match Day
9 with the highly anticipated clash
of the longest football rivalry in
Nigeria between Shooting Stars
and Rangers International ending
1-1 in Ibadan.
Giwa FC recorded their second
home draw and were pushed down
to fifth place from second after they
were held 0-0 by Taraba United. It
will be the first game in four that
joint top scorer, Ibrahim Shuaib
failed to find the back of the net.
It was six times champions,
Enyimba International that showed
intent early in Port Harcourt after
the heavy downpour forcing an
own-goal just six minutes into
the game off Festus Austin, the
hard tackling Dolphins defender
who has recently made a return
from a season long injury lay-off.
Markson Ojobo would consolidate
the Peoples Elephants’ lead a
minute after a quick fire strike
that shattered Coach Stanley
Eguma’s pre-match expectations
of ending Dolphins’ four year jinx
against the visitors. Dolphins last
defeated Enyimba in 2011 on their
way to winning their last league
title. Omo Johnson connected an
Ifeanyi Egwim flick to reduce the
deficit on 28 minute and that was
the best both sides could muster
for the remaining 62 minutes of
the encounter.
From the match statistics,
it was obvious Coach Khadiri
Ikhana fashioned out a match
plan aimed at stemming the run
of poor results which has seen
Enyimba lose to Gabros 2-0 and
draw 0-0 at Aba with Giwa FC.
MATCH DAY 9 (Results)
Heartland 2-0 Akwa United
Dolphins 1-2 Enyimba
Abia Warriors 0-1 Kano Pillars
Wikki Tourists 1-0 Lobi Stars
El-Kanemi 1-0 Bayelsa United
Gabros 1-0 Sharks
Shooting Stars 1-1 Rangers
Nasarawa Utd1-1 Sunshine
Giwa FC 0-0 FC Taraba
MATCH DAY 7 RESULTS
Sharks 2-2 FC Taraba
Wikki Tourists 4-2 Rangers
Heartland 0-3 Sunshine Stars
Giwa FC 3-1 Bayelsa United
Dolphins 2-0 Lobi Stars
Gabros 2-0 Enyimba
Nasarawa 2-0 Abia Warriors
Kwara United 1-0 Kano Pillars
El-Kanemi 1-0 Akwa United
Shooting Stars vs Warri Wolves
(PP)
OLD RIVALS...
Rangers’ Odah Onorioda (right) challenged by Shooting Stars’ Yinka Adedeji in their Glo Premier League Match Day 9 clash at the Lekan Salami Stadium in
Ibadan…yesterday
Ehyimba finished the game with
11 shots at goal with seven on
target while Dolphins managed
six shots with three on target.
Adamu Hassan’s volley from
Ubong Ekpai’s low cross on the
4th minute earned defending
champions, Kano Pillars their
first points away from Kano as
they piped Abia Warriors 1-0 at
the Umuahia Township Stadium. It
was Warriors second home defeat
this season after their loss to Wikki
Tourists.
Heartland returned to winning
ways and it was against their
perennial victims, Akwa United
with quick early goals from Collins
Nwaneri on the 2nd minute and
Hassan Babangida two minutes
after to bring respite to Coach
Erasmus Onu whose job has
been threatened with a streak
of defeats in the last five games.
Kano Pillars, Heartland and
Enyimba move up the log on 15
points each but the cup holders
enjoy superior goals count.
Seun Sogbeso had sent 2012
Olympic team goalkeeper, Ikechukwu
Ezenwa the wrong way
to put Nasarawa United ahead
from the spot on 45 minutes.
Mannir Ubale was felled inside
the box and the perfect execution
of the spot kick sent the crowd
roaring in salute and perhaps
relief that they were ending the
half with a goal.
Sunshine fought back seeking
to sustain their lead at the top
and it was joint league leading
scorer Tunde Adeniji that came
close to restoring parity with a
thunderous shot five minutes
into the second half. He saw that
effort saved by goalkeeper Pius
Ibrahim who on 66th minute
FC Taraba Ends Giwa’s Winning Streak in Jos
Giwa Football Club of Jos was
left to rue missed chances as it
drew 0-0 at home to FC Taraba
in a Match Day 9 Glo Premier
League match at the Rwang Pam
Stadium in Jos.
This is only the second time the
Jos-based side will drop points at
home after the draw with Abia
Warriors earlier in the season.
Sitting in second position going
into the game and looking to
banish the ghosts of their Federation
Cup exit at the hands of
Kukuruku Dragons last week,
Giwa started the game like a
house on fire.
Skipper Charles Henlong had
the first real chance of the game
on the third minute from a set
piece but his effort just went wide
with Taraba goalkeeper Chinedu
Kakawa beaten.
They kept up the pressure
and were nearly rewarded when
Ibrahim Shuaibu wriggled off his
marker but a last ditch clearance
from Taraba defender Chinedu
Ohanachom prevented him from
scoring.
Ohanachom was proving to
be the main man in the Taraba
defence as he stopped Amos
Gyang from getting a clear sight
at goal on the 17th minute.
Giwa were finding joy from
free kicks around the Taraba box
but efforts from Shittu Lawal and
Charles Henlong didn’t result in
a goal as the Jos team huffed
and puffed.
The second half was more of
the first with Taraba intent on
sitting deep in their own half and
hoping to hit Giwa on the break.
The were able to carve out a
few chances towards the end of
the game but substitute Haliru
Hashimu couldn’t make hay with
the chance he got.
Substitute Charles Okoro had
the home side’s best chance of
the half but he was unfortunate
as his shot came off his own man
to the relief of Chinedu Kakawa.
Giwa threw the kitchen sink
at FC Taraba as they went into
added time with Amos Gyang,
Ibrahim Shuaibu and Charles
Okoro all involved but it wasn’t
to be as the game ended goalless
Team line ups:
Giwa FC: Friday Achimugu, Aminu
Mbai, Lawal Shittu, Ambrose Jimmy,
Nojeem Raji, Akide Ibrahim, Gyang
Amos, Mohammed Saleh, Charles
Henlong, Ocheme Edoh, Ibrahim
Shuaibu
FC Taraba: Chinedu Kawawa, Joe
Ma’amo, Chinonso Udeh, Lucky
Erummya, Obinna Nwokolo, Jimoh
Ismaila, Abdulmalik Mohammed,
Luther Iyorhe, Chinedu Ohanachom,
Onoja Godwin, Longji Obadiah
failed a keep away Kingsley
Eduwo’s header that finished
off a Prince Aggrey great work
from the flank.
In other results, Wikki Tourists
continued their fine run of form
as they beat a resolute Lobi Stars
1-0 thanks to Uche Martins goal
from the spot on 75th minute.
Under pressure Lobi coach Justin
Tenger could not see through his
pre-match determination to
leave Bauchi with a point as
Lobi continue to search for
the first win of the season.
In Kano, El-Kanemi Warriors
also managed a goal from
the penalty spot to breakdown
the resistance of struggling
Bayelsa United. Benjamin Turba
converted the penalty after
Salomon Junior was adjudged
to have brought down Ibrahim
Mustapha inside the box.
Gabros scaled the Sharks
hurdle thanks to a 77th minute
own goal from Jamiu Alimi, a
win that ensured the newly
promoted Nnewi side has
maintained a 100 percent
winning record on their
turf.
STANDINGS
Team P W D L GF GA GD Pts
Sunshine Stars 9 5 2 2 13 7 6 17
Gabros FC 9 5 2 2 12 6 6 17
Wikki Tourists 9 5 2 2 13 9 4 17
Giwa FC 9 4 4 1 10 5 5 16
El-Kanemi 8 5 1 2 8 6 2 16
Kano Pillars 9 5 0 4 9 6 3 15
Heartland 9 5 0 4 13 11 2 15
Enyimba 9 4 3 2 8 7 1 15
Abia Warriors 9 4 1 4 8 9 -1 13
Nasarawa 9 3 2 4 10 13 -3 11
Kwara Utd 8 3 2 3 6 9 -3 11
Warri Wolves 6 3 1 2 9 4 5 10
Rangers 9 3 1 5 11 12 -1 10
FC Taraba 9 2 4 3 10 11 -1 10
Dolphins 9 2 3 4 8 10 -2 9
3SC 8 2 2 4 5 8 -3 8
Akwa Utd 9 2 2 5 3 9 -6 8
Sharks 9 1 4 4 8 12 -4 7
Bayelsa Utd 9 1 4 4 5 10 -5 7
Lobi Stars 9 0 6 3 5 10 -5 6
Follow the Glo Premier League on www.npfl.ng, twitter @lmcnpfl and on facebook//League Management Company.

TRUTH & REASON
Monday May 18, 2015
TRUTH & REASON
Price: N150
MISSILE
Falana to Fayose
“In the atmosphere of impunity which currently obtains in the country, the well
known armed thugs operating in Ekiti State have been granted immunity by the
federal government. Hence, police officers are under strict instructions not to arrest
or prosecute any of them”
– Human rights lawyer, Mr. Femi Falana, blaming Ekiti State Governor, Mr. Ayodele
Fayose, for the increasing wave of kidnapping in the state.
WAZIRIADIO
POSTSCRIPT
waziri.adio@thisdaylive.com
years
OF ROBUST JOURNALISM
SINCE 1995
Tough Choices for Tough Times
Our public finance is not in a good
place at the moment. And it is
not going to get better any time
soon. On Friday, the three tiers
of government shared N388.33
billion from the Federation Account for the
month of April. When compared to the N435.05
billion they shared for March 2015, this is a
sharp fall of 10.7% within one month. The
picture is grimmer when the current figure is
compared to the N628.8 billion they collected
for November 2014: revenues shared by the
three tiers of government have slumped by
38.2% in six months.
As the slump continues and as the wriggle
room narrows, the mask is beginning to fall off.
The long predicted, and long denied, crunch
has finally arrived. Expectedly, the effect of
the plunge in prices of crude oil is beginning
to bite. All tiers of government, including the
federal government, are struggling to pay
their contractors and staff. Some states owe
civil servants up to six months. One state has
reportedly slashed salaries by more than a third,
and it is not inconceivable that others will embrace
this model. The federal government, according
to the outgoing Coordinating Minister for the
Economy/Minister of Finance, Dr. Ngozi Okonjo-
Iweala, is borrowing to meet its obligations to
workers and others. As at April, N473 billion
had been borrowed, representing 54 per cent
of the total debt budgeted in the 2015 budget.
If payment of salaries is already a challenge
across the board, the fate of other overheads
and capital expenditures is better imagined.
Though crude oil is now selling above $60 and
way above the approved benchmark price of
$53, oil price recovery is not enough to tie us
through these lean times. Late last year, the
International Monetary Fund (IMF) and Deutsche
Bank projected that we need oil to sell at $126
per barrel to balance our 2015 budget. That is
not likely to happen anytime soon. In fact, it is
doubtful oil prices will stay above $60 for long
because of possible increase in global oil supply
as, among others, the Iran nuclear deal gets
sorted and oil from fracking proves resilient.
The glut in the oil market, compounded for
us by unprecedented level of oil theft, shutins
and loss of the United States as a major
up-taker, creates a cash-flow problem which
constrains our capacity to borrow our way out
of this slump, no matter what is said about our
low debt-to-GDP ratio. We have little savings
to draw on as the Excess Crude Account is
almost depleted. Our sovereign wealth fund
is not robust enough, especially its stabilisation
component, to make any difference. The external
reserves managed by the central bank consist
mostly of money already spent. In all likelihood,
things will get tighter as the easy options for
meeting government obligations will be limited
to borrowing or printing money. Both options
are not cost-free. Before long, all sectors of the
economy will start mimicking the public sector
because our economy revolves around oil money.
Tough times are back. And, save for a miracle,
they are not likely to disappear in the near to
medium term.
This puts the incoming administration in a very
tight spot in two significant ways. One, it will
struggle to keep basic government operations
going because of inherited problems. Two, it
will find it very difficult to implement the
Okonjo-Iweala
ambitious social programmes it campaigned
and got elected on. My hunch is that, after
taking over, the Major General Muhammadu
Buhari (rtd) administration will discover that
the treasury is even in a worse state than they
had imagined. There will be the temptation to
keep blaming the outgoing government or to
favour politically agreeable options ahead of
far-reaching ones. To be sure, Nigerians should
not be left in doubt about the extent of the
inherited mess and enough attention should
be paid to politics. But doing just these would
not do. This is the time to take and implement
tough decisions about our economy. And since
the incoming government campaigned on the
platform of change, it should take the initiative
to implement bold changes that will put our
economy on the path of sustainability.
I think the place to start is for the Buhari
administration to put on hold, by three to six
months in the first instance, its ambitious welfare
programme such as the school feeding programme
and stipends for the unemployed, the elderly and
the poor. I am aware of recommendations about
funding the social welfare programmes through
If payment of salaries
is already a challenge
across the board, the
fate of other overheads
and capital expenditures
is better imagined.
Though crude oil is now
selling above $60 and
way above the approved
benchmark price of $53,
oil price recovery is not
enough to tie us through
these lean times
savings from wastes and leakages. This is not a
bad idea. But I am sure such recommendations
were made before it became clear that even the
federal government is borrowing to pay salaries. I
am also aware that suspending welfare spending
will have serious reputational and political costs
for the new government. The All Progressives
Congress (APC) included those promises in its
manifesto and its candidate incorporated them
in his Covenant with Nigerians.
The new opposition, the Peoples Democratic
Party (PDP), will soon recover from its present
disarray and will definitely get on APC’s case.
It has all the incentives to do so. Those who
voted for APC, especially those led to expect that
they will wake up to Eldorado on May 29, will
feel deceived and possibly become angry. Those
who didn’t vote for APC will find additional
justification, and they will possibly become
strident critics of the government even before
it gets off the starting line. Some civil society
groups are gearing up to hold APC to its electoral
promises, and will possibly swell the rank of
the opposition to the Buhari administration if
it backs out of, or fails to fulfil its promises.
Despite all these, I think it is a sensible
decision to take. The country has suddenly
found itself in the unenviable situation of a
parent who promised his/her kids a summer
holiday abroad but has lost his/her job. Sure, it
will be tough on the kids, but it is more sensible
to use available resources for school fees and
to put food on the table than on some holiday.
Even reasonable kids will understand the need
for that kind of trade-off. I am a strong believer
in the welfare state, not just because it is good
for income redistribution, social mobility and
national cohesion but more so because when
properly implemented it enhances the productive
capacities of citizens and the country. But you
can only redistribute what exists. Let’s face it: a
country that is struggling to pay salaries needs
to stabilise first.
The second hot-button area is removal of
subsidies on kerosene and petrol. The inflationary
impact of subsidy removal and the possible
disproportionate effect on the vulnerable cannot
be denied. But it is also clear that subsidies on
kerosene and petrol have turned out to be an
inefficient and unsustainable use of scarce public
resources, as most Nigerians buy these products
way above the official prices and we end up
subsidising those who do not need subsidy.
Most important, the subsidy regime oils the
path to barefaced corruption. In 2011, we spent
about N1.5 trillion on petroleum subsidies. That
was about a third of the total budget for that
election year, and way above the total capital
budget. The subsidy in the 2015 budget has
come down drastically to N145.2 billion. It is
tempting to allow it to stay. But it is precisely
a time like this, when the subsidy element is
low, that the inefficient, badly targeted and the
corruption-ridden subsidy should go. Today,
most Nigerians are buying petrol at around
N150, more than the full landing cost of the
product. The real beneficiaries of this failed
policy are the briefcase billionaires.
The fact that this is another sensible thing to
do does not mean it would not be resisted or
that it won’t come with political costs. Subsidy
removal is always an emotional and political
issue. Resistance should be expected not just
from individual citizens but also from labour
unions, the media, civic groups and the official
opposition. To reduce the resistance in these two
contentious areas, the incoming administration
needs to design and implement a robust strategy
for engaging Nigerians in honest and open
conversations about the state of the economy,
the options available, the inherent opportunity
costs, and the possible trade-offs.
I believe the credibility of the government to
engage in these conversations and its capacity to
implement important reforms will be strengthened
by the sacrifices it is willing to make especially
early in the life of the administration. There are
already some signs that the Buhari administration
might align itself with the demands of the austere
times. The APC inauguration committee has
said the party will not undertake a flamboyant
inauguration ceremony. The president-elect was
sighted in an airport shuttle bus and he was
pictured having a modest breakfast with his
running mate and his party chairman. All these
are good for the optics. But beyond symbolism, it
is important to reduce the drag that government
has become on public resources. There are many
obvious candidates for the knife: the number
of ministers and presidential aides; the salaries
and allowances of public officials, including
legislators; the budget for food, entertainment
and travels; the number of cars and aircraft in
the presidential fleet etc. Buhari promised to
lead from the front. Let him start with cuts
that directly affect him and others at the top.
In addition to these short term measures, there
is need to undertake some urgent reforms that
will check graft, reduce impunity and promote
efficiency. We also need to restructure our
economy in the medium to long term. Any
economy that is dependent on commodities
will always be vulnerable; any country that
uses 70 per cent of its budget to fund recurrent
expenditure will always be in ill-health. Beyond
the issue of subsidy, the oil sector is totally
dysfunctional and cries for roots-and-branch
reforms. Issues of swaps, discretion, metering,
industrial-scale theft, and opacity need to be
urgently addressed, whether the Petroleum
Industry Bill is passed or not. Oil sector reform
will also come with resistance, including from
some members of APC who think it is their
turn at the trough.
There is also need for better revenue collection
and remittance. Value Added Tax possibly
needs to go up and personal and company
income taxes need to be more aggressively
collected and rendered; waivers, which rob
the public of significant revenues, need to be
significantly reduced, if not eliminated; revenue
generating agencies should be made to pay
all they generate into the Federation Account,
rather than becoming slush centres and separate
islands of government. And then for the much
talked about diversification, we need special
interventions and incentives to boost physical
and human infrastructure and make services,
agriculture and manufacturing the major pillars
of our economy.
To get us out of this avoidable tight spot, Buhari
needs to make some tough calls. There are no
easy choices and some pains, not discussed or
disclosed or anticipated during the campaigns,
will have to be inflicted. It is not an easy time
to be a president. But it is precisely at times
like this that real changes can be made in the
lives of nations.
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2 MONDAY MAY 18, 2015 THISDAY

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4 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 5

6 MONDAY, MAY 18, 2015 • THISDAY
PAGE SIX
JONATHAN AND WIFE AT CHURCH SERVICE, SEEK FORGIVENESS
had lifted her high because
she never dreamt of becoming
a first lady as her husband
at the initial stage was not a
politician.
The first lady, who is having
her second public appearance
since her husband lost the
presidential election, also said
that she was miraculously
healed of an ailment after
the poll.
Jonathan and his wife spoke
during a thanksgiving service
marking their last worship
service at the Aso Villa Chapel.
Meanwhile, Vice-Presidentelect,
Prof. Yemi Osinbajo, who
was invited to the church
service, was conspicuously
absent but sent a representative.
Chaplain of the chapel,
Venerable Obioma
Onwuzurumba, later explained
that Osinbajo's absence was due
to one reason or the other.
While speaking to the
congregation, Jonathan said: "Let
me express our appreciation
to all those who have stood
with us . We came in as
vice-president and the wife,
today we are leaving as the
former president and former
first lady. Whatever we were
able to achieve was through
you. Let me specifically thank
the Chaplain, the clergymen,
the pastors and their wives.
"For the past eight years, we
have every reason to be thankful
to God. Every individual has
his/her own calling. I also
believe that people who take
over political leadership have
their own callings to do specific
things.
"No one, head of a
government, be it at the national
level or the sub-regional levels
can do everything. But when
you leave, you will want to
do something to show that
yes, I was here. I remember
when I was deputy governor
of Bayelsa State, when I took
over as governor, something
that came to my mind. I wanted
to build bridges, since Bayelsa
was more riverine than Rivers
State and I decided that I was
going to build two major
bridges yearly.
Everybody has something to
leave behind. The chaplain has
said that nothing is perfect, if
you wait for perfection, you
cannot achieve anything."
The president acknowledged
that no system is perfect,
adding that every human
system must have an element
of imperfection.
He described the eight years
he had been at the Villa as a
series of blockades because his
transition from vice-president
to president was gradual and
complicated.
"It was intertwined so you
cannot actually draw the line.
Because when the president
was challenged with major
health issues, I was running
the country for sometime, even
before the doctrine of necessity
made me an acting president.
Then I took over at first and
conducting the 2011 election,
I won and I had to run my
full four years as an elected
president.
"So for the eight years that
one has been there, definitely
one is not perfect. We have done
certain things that probably we
shouldn't have done that way,
but we didn't do those things
deliberately (to hurt others).
"So for those whom we have
offended it was not deliberate,
it was circumstances of the
office. So we also plead that
those people should forgive,
we think we have done our
best," he said.
According to him, "You can
do your best and your friends
may misunderstand you. Today
we are talking about leaving.
It is only God that knows why
things go the way they do.
"Ordinarily, May 24 would
have been the last service here.
But that May 24, we will all go
to the National Christian Centre
for the inauguration service.
So for me and my wife, this is
our last day of worship here.
The congregation will continue
because until new government
takes over.
"Though we are leaving as
president and first lady, but we
have not left you, because we
are still in this country, we will
continue to interact one way
or the other, probably along
the line we may even come
closer. I believe some of you
may even come closer, and even
do more meaningful things
together when we leave office.
"The office is quite
challenging, some of you may
desire to see us, I believe as
we move forward, things will
get better. I don't really believe
that it is only in government
that you can do things, even
outside government you can
also do a lot of things.
"The richest people in the
world don't even serve in
government. Dangote has
never been in government.
So you don't need to be in
government to be rich. Bill Gates
has not been in government.
So outside government a lot
of things happen, it is for us
to be committed and continue
to be focused. Me and my wife
really love all of you."
On her part, Mrs. Jonathan
said: "I really thank God for
keeping me alive. He is a
miraculous God. God is so
wonderful in my life because
people prophesied that one of
us will not go back.
"But God has made it
possible, two of us are going
healthy. I never thought in my
life that I will be first lady. I
never dreamt of being the
wife of a deputy governor
because my husband was not
a politician. But God made it
possible and God lifted us up
from deputy governor and here
we are.
"We should be grateful to
God for what he has done. To
me and my family, we praise
God. To our followers, today
it might not be too good but
I want them to be grateful to
God because you have followed
us for a long time from deputy
govovernor, to governor, to vicepresident,
and then president.
You know this position is not
a life thing.
"There is no permanent thing,
so I want you to take it in good
fate; that it is the will of God
and you should be praising
God. God is really wonderful.
That is for the political side.
"To my own real life, I thank
God for keeping me alive today.
God is so wonderful. Just two
years ago, I went through one
operation after the other. Within
one month, I passed through
12 operations."
According to her, "To some
people, they said she is dead.
But God resurrected me. God
told me my daughter, go back.
I will give you second chance,
go and finish your work.
"And today if my husband
lost this election I believe God
has made me finish the work.
"Thank God today we are
parting with life and not with
death. Our doors are open.
"That campaign time was
a trial for me. Satan came in
again and those who know
the former president and his
wife, her corpse was carried
out of this place. We thank
God that I and my husband
are going alive.
"During the campaign period,
devil struck again. In pains I
was rushed to the hospital in
January and the doctors told
me, mama you have to go for
major big operation now now!
"I was worried and asked:
what is it again? The campaign
was still going on and I
wondered how we were going
to explain to Nigerians. You
know even when you go for
check-up, they will be writing
on papers saying all sorts of
things. I said I and my family
have to hand over.
"My husband will continue
with his campaign until the last
day. That was how I went in
for the first major operation
towards the end of January.
And by God's grace I came
out and it was from that
operation that I went to the
campaign ground. And they
told me mama, there is another
bigger operation that you have
to go in for. This one would
not be in this hospital. It (the
hospital) is too small for this
type of operation. You have to
go to a bigger hospital and I
said I will go, I have faith in
God. And that my God will
see me through."
She added: "He has brought
me out for a purpose. I called
my pastor to continue praying
for me. They want me to be a
sacrifice, but I will never be.
Then, do you know I went to
the bigger hospital. I booked
for the operation and I was
asked to go for the campaign.
"They gave me a new date.
I had paid for everything, it
just remained for me to go
to the theatre and the thing
occurred at the hospital. 'Let's
check her again'. By then, my
husband had lost the election.
I had packed out of the Villa,
we were about going. Behold!
I went to four hospitals again
and the thing had vanished. My
doctors were surprised. They
didn't think that could happen.
I told my people doctors say
we could go."
MILITARY DESTROYS 10 MORE TERRORISTS’ CAMPS IN SAMBISA FOREST
According to Olukolade, four
of the camps were located in
a place called Iza within the
forest while three others were
noted to be recently established
by the terrorists before the
assault began.
He also disclosed that
one soldier died when he
stepped on a landmine in the
operation while two others
were wounded.
"The terrorists lost a number
of vehicles mounted with
Anti-Aircraft Guns as well
as armoured vehicles. Some
of the terrorists who escaped
from the camps also died as
they ran into troops' ambush
in some escape routes from
the forest," he revealed.
Meanwhile, Olukolade
also said some of the fleeing
terrorists engaged in suicide
missions at Bitta where they
encountered the Nigerian
troops and Kiskeru across
the border in Niger Republic.
The operation to clear the
terrorists in Sambisa and other
forests, he said, is continuing
as troops on all fronts had been
alerted to be on the lookout
for fleeing terrorists.
"The Nigerian Air Force
is maintaining an active
air surveillance to track the
movement of the terrorists
for appropriate action as the
operation continues," he added.
A border town in northern
Borno, Marte, had fallen last
Friday into the hands of the
Boko Haram insurgents. Marte
had been liberated by the joint
military troops, but many of
its inhabitants had hardly
returned before it fell again
to the terrorists.
Olukolade had explained
that the town was found
empty by the fleeing Boko
Haram members who were
routed from the Sambisa forest,
and merely took shelter in a
deserted village.
However, the operation to
clear all the forest in the region
of the terrorists has continued
with improved vigour by the
military.
Meanwhile, the Nigerian
military has cautioned
#BringBackOurGirls (BBOG)
and other advocacy groups
against what they described
as hate campaigns that do not
help in the ongoing counterterrorism
and insurgency
operations in the North-east.
Maj-Gen. Olukolade, in
a letter addressed to the
leadership of BBOG yesterday,
advised them to be wary
of those he described as
charlatans looking for a
platform to denigrate the
military for selfish and ulterior
motives.
Olukolade stated that all the
military reports on counterterrorism
are based on the
available information and
observance of the elements of
propriety, security, policy and
accuracy which has remained
its guiding principles.
“I feel constrained to call
your attention to the existence
and activities of charlatans in
your midst who have never
had the privilege of responsible
service in public sector but
are now keen to see everyone
in position brought down to
entertain their fancy and envy,”
he said.
According to the Defence
Spokesman, the detractors have
sought to equate military’s
efforts to give accounts of
activities on Nigeria’s war
on terror as propaganda or
cover up.
Olukolade explained that
the battle situation around
could be very fluid and
susceptible to rapid changes.
He said: “The situations
around the battle could also
change accordingly in an
inexplicable manner. This
trend is also compounded by
various perspectives that have
been employed to seriously
polarise the understanding of
the situation along the line
of all kinds of sentiments
and biases prevailing in the
environment.
“We cannot engage in a
shouting match with those
who have other motives.
We can only try to explain
situation to the best of our
understanding and available
information.”
Olukolade also expressed
the concern of the military over
the safety of journalists and
other information seekers in
the war front.
“Our concern remains the
issue of safety for anyone in
search of information. Much
as we want to assist genuine
seekers of information, we do
not feel obliged to commit
scarce resources to satisfying
the fancy of pleasure seeking
adventurers or the curious
and mindless critics who just
want to roam around with
questionable motives.
TOP GAINERS NGN NGN %
FO 13.63 173.23 8.54
CHAMPION 0.34 7.09 5.04
IKEJAHOTEL 0.18 3.79 4.99
ACADEMY 0.04 1.00 4.17
INTENEGINS 0.02 6.60 3.92
TOP LOSERS NGN NGN %
HONEYFLOUR 0.18 3.47 5
LIVESTOCK 0.12 2.40 5
TRANSEXPR 0.05 1.06 4.50
NEM 0.03 0.68 4.23
RTBRISCOE 0.04 0.92 4.17
HPE Nestle Nig Plc ₦900.00
Volume: 185.32 million shares
Value: N1.39 billion
Deals: 3,517
As at Friday 17/05/15
See details on Page 47
MPC LIKELY TO RETAIN INTEREST RATE
The Retail Dutch Auction
System was closed in February
2015, while all demand for
forex was directed to the
interbank market even as the
CBN continues to intervene
intermittently in the interbank
market to moderate volatility
swings.
Latest inflation figures
showed that the consumer
price index (CPI) continued
northwards for the fifth
consecutive month as it stood
at 8.7 per cent in April 2015.
Nigeria’s external reserves
stood at N29.787 billion as at
last Thursday, just as the price
of Brent crude ended at $66.81
a barrel on Friday.
According to analysts at
Afrinvest West Africa Limited,
in the plethora of issues to be
considered, the recent pressure
on exchange rate, external
reserves position, rising price
level and slowing domestic
economic growth would likely
take the centre stage.
They added: “In this light,
we look through our crystal
ball that the decisions of the
MPC would most probably
be to maintain the status quo
on major policy rates while
postponing the possible further
devaluation of the naira to a
later meeting after installation
of new administration.
“However, we believe
pressure in the fiscal and
monetary policy space also
accounted for the sluggish
performance of the economy.
Whilst this may be of concern to
MPC, we note that it may likely
count for less in monetary policy
decisions for May given other
overriding issues that should
take precedence.”
They also argued that the
effectiveness of the 2015 budget
remains questionable, saying
that the broad objective of the
budget is largely unconnected
with the policy disposition of
the incoming administration.
“Hence, we think the MPC
may be more concerned about
the fiscal stance of the incoming
government rather than the
policy thrust of the transition
budget,” the report added.
Also, analysts at the Financial
Derivatives Company Limited
(FDC), while considering recent
National Bureau of Statistics
data that showed a contraction
in economic growth to 3.96
per cent in the first quarter of
2015, from 6.21 per cent in the
corresponding period of 2014, as
well as the uptick in inflation,
argued that the country could
be moving towards stagflation.
Stagflation is a macroeconomic
condition in which a country
experiences a reduction in real
economic growth at the same
time as facing an increase in the
general level of prices, which
is inflation.
“In order to stimulate growth,
the government is likely to
spend more through increased
borrowing and advocate a lower
interest rate. This reduces
unemployment and boosts
growth but is likely to result
in a higher level of inflation
rate. Nonetheless, if the level
of economic growth achieved
by the accommodative policy
is significant, the impact of a
high rate of inflation may be
muted,” the FDC added.
It noted that the current
CBN’s inflation target of six
to nine per cent is unrealistic
with the current fundamentals
in play.
“Targeting an inflation band
of 10-13 per cent allows the
CBN more room to tinker with
the interest rates to stimulate
growth. Encouraging bank
lending to specific sectors of
the economy using subsidised
interest rates alongside a more
practical inflation target helps
to address the looming issue
of stagflation.
“If policy measures by
the new administration are
aimed at reviving productivity
and improving returns on
investment, the real sector
will have the incentive to lift
capital expenditure. Hence,
Nigeria will be on the transition
path from stagflation to higher
and sustainable real economic
growth," it added.
Buhari is obsessed with
development and long-term
competitiveness of the Nigerian
economy, aimed at improving
the welfare of Nigerians.
"He will have to deal with
some trade-offs especially
allowing for some inflation
whilst investing significantly
i.e. 10 per cent of GDP in
infrastructure to jump start the
economy,” an FDC report added.

7
THISDAY • MONDAY, MAY ,
STARTERS
Two-Minute Briefing
INTERNATIONAL email: foreigndesk@thisdaylive.com
E
MONDAY MAY 18, 2015 • T H I S DAY
An Egyptian court has
pronounced death sentences on
former president Mohammed
Morsi and more than 100
other people over a ma s
prison break in 2011. Morsi
is already serving a 20-year
prison term for ordering the
a rest and torture of protesters
while in power.
Egypt’s religious authorities
wi l now have to give their
opinion before the sentence
can be ca ried out. Morsi’s
supporters from his Muslim
Brotherhood movement have
described the charges against
him as “farcical”. He was
deposed by the military in
July 2013 fo lowing mass
street protests against his rule.
Since then, the authorities
have banned the Muslim
Brotherhood and a rested
thousands of hi supporters.
In a separate case on Saturday,
an Egyptian court banned
hardcore football fan clubs
known as the Ultras, who
played a leading role in protests
during the 2011 uprising
agains then-president Hosni
Mubarak.
Inside the dock, Morsi
and members of his Muslim
Brotherhood group chanted,
“Down with military rule!”
after the judge read out his
ruling against him. The judge’s
request for the death sentence
in connection with the jailbreak
case was refe red to the grand
mufti, a high religious cleric,
for ratification.
However, the mufti’s
recommendation is not
binding. Even if he advises
agains the death sentence, the
judge can sti l go ahead with
it. The Brotherhood issued a
statement condemning the
sentence and ca led for an
escalation of protests.
Bu the tight security grip
in Egypt means that it is
highly unlikely to see mass
demonstrations. Hundreds of
Brotherhood supporters are
already behind bars, while
others are keeping a low
profile for fear of a crackdown.
Morsi, who escaped from Wadi
Natroun prison in January 20 1,
was a cused of colluding with
foreign militants in a plo to
free Islamists during the ma s
prison breaks.
Many of his 104 codefendants
were Palestinians
a cused of being members of
militant group Hamas, and
were charged in absentia.
Egypt’s Former President Sentenced to
Death
The court also i sued rulings
on another case, sentencing
16 Muslim Brotherhood
members, including deputy
leader Khairat al-Shater, to
death on spying charges.
Morsi, who also faces
espionage charges, will be
i sued a verdict in that case
at a later date.
Hundreds of people have
been sentenced to death in a
crackdown on the Brotherhood
following Morsi’s removal in
2013. However, it is thought
that only one such death
sentence has been carried
out so far.
A l death sentences must
first be sent to the grand
mufti, Egypt’s highest religious
authority, for his non-binding
opinion on whether they
should stand. Convictions
are sti l open to appeal, even
if the grand mufti gives his
approval. Morsi’s supporters
have condemned the cases
against him as a political
show trial.
Amr Da rag, a former
minister in Morsi’s government,
described Saturday as “one of
the darkest days” in Egypt’s
history. “These latest charges
are another deeply disturbing
attempt to permanently erase
democracy and the democratic
proce s in Egypt,” he said in
a statement.
Tibetan exiles are ca ling for
China to release a high-ranking
monk who disappeared 20 years
ago when he was just six years
old. The boy was detained
by the Chinese authorities
jus three days after the Dalai
Lama declared him to be the
reincarnated Panchen Lama.
The Panchen Lama is the
second most important figure
in Tibetan Buddhism. Many
consider him to be one of
the world’s longest-serving
political prisoners. China has
refused provide details of the
whereabouts of Gedhun Choekyi
Nyima. In 1995 it anointed its
own Panchen Lama, Gyaltsen
Norbu, who while popular
among some Tibetans has
been described by exiles as a
“stooge of the atheist Chinese
Communist Party government”.
Wangdue Tsering, pre s
spokesman for the Office of
Tibet in London, told the BBC
that events were taking place
on Sunday acro s the world
to mark the 20th anniversary
of Gendhun Choekyi Nyima’s
disappearance, including a
candle-lit vigil outside the
Chinese emba sy in London.
“We are appealing to the
world community to help us
find out where the Panchen
Lama is,” Mr Tsering told the
BBC’s Asia analyst Michael
Bristow. “It’s 20 years since
he disappeared and we don’t
know where he is, where his
family is and how he is. We
want the Chinese authorities to
give some information.”
The Dalai Lama has in the
past strongly criticised China for
“brazen meddling in the system
of reincarnation” - especia ly the
reincarnation of the Dalai Lamas
and Panchen Lamas. Tibet is
governed as an autonomous
region of China. Beijing claims
a centuries-old sovereignty over
the region, but many Tibetans
argue that Tibet was colonised.
China sent in thousands
of troops to enforce its claim
on the region in 1950. Some
areas became the Tibetan
Autonomous Region and
others were incorporated
into neighbouring Chinese
provinces. In 1959, after a failed
anti-Chinese uprising, the 14th
Dalai Lama fled Tibet and set up
a government in exile in India.
Beijing views the Dalai Lama as
a separatis threat, although he
has repeatedly stated that his
goal is for Tibetan autonomy
rather than independence.
China Urged to Release Panchen Lama
after 20 Years
IAAF DIAMOND LEAGUE
70 T H I S D AY •MONDAY MAY 18, 2015
MONDAYSPORTS
Group Sports Editor Duro Ikhazuagbe
Email duro.ikhazuagbe@thisdaylive.com
Okagbare Takes the Gold in Shanghai
Duro Ikhazuagbe with agency
report
Africa and Commonwealth
sprint champion, Ble sing
Okagbare, sign-posted what
to expected at this year’s
IAAF World Championship in
Beijing, China when she won
the Shanghai leg of the 2015
Diamond League yesterday.
Okagbare did it easily, beating
last year’s world leader, Tori
NESTLE MILO BASKETBALL
L-R: Edo State Governor, Adams Oshiomhole; Kenyan runners, Amos Mitel and Korio Alex Olotptip; Leul Gabrasilasis of Ethiopia and Representative
of the Group Managing Director/CEO of Heritage Bank, Mr. Ifie Sekibo at Okpekpe, Mr. Emeke Anene at the prize presentation
ceremony of the 3rd Okpekpe 10km Road Race…last weekend
CBN Tennis Main Draw Serves off Today
After two days of qualifying
rounds, the Main Draw of the
37th Central Bank of Nigeria
Senior Open Tennis Championship
will get underway today
with no fewer than 40 players
listed for action.
Nigeria Tennis Federation
Secretary General, Gloria
Ekwepmu disclosed that the men
are to compete in the round of
64 while the main draw for the
ladies is 32.
There will also be a round of
32 for the men’s doubles while
the ladies wil compete in round
of 16.
Ekwempu stated that everything
is set for what would be a
memorable championship which
is featuring a high number of
participants.
“As it has been the tradition,
we got a very high number of
entries and we are glad that the
qualifying matches are almost
completed, she said on Sunday
afternoon,” she said.
Meanwhile, Nigeria’s secondranked
female player Sarah
Adegoke is confident she can go
al the way to claim the top prize
in the singles to help her reclaim
her top ranking which she lost to
Christy Agugbom late last year.
Adegoke fel to debutante
Elizabeth-Garos- Pam in the
semifinal last year and Pam went
on to lose to Agugbom which
saw her rose considerably on
the rankings.
“I’m in good shape and I’m
looking forward to win the CBN
whic has been my long-term
dream,” she said.
The men and women’s champions
will receive N7 0, 000 while
finalists will get N500,000
bare, led the Nigerian quartet
of Regina George, Dominique
Duncan and Christy Udoh, to
win the 4x200m gold of the
Bahamas Relay.
Fraser-Pryce was not
overly concerned with her
11.25 opener.
“It was one of those races,”
she said. “I have time to get
it right.”
Asked if she would now have
her work cut out in defending
her title in Beijing later in the
year, Fraser-Pryce said: “I always
have my work cut out. No
one hands anything to you.”
Je f Henderson led the men’s
long jump from the first round
to the fifth, his 8.26m coming
on his first attempt.
Russian Long Jump star,
Aleksandr Menkov, worked
his way into contention, his
winning jump coming in the
fifth round. Both Chinese
jumpers had their best efforts
in the fourth round in
a competition that swung any
number of ways.
Olympic champion Greg
Rutherford finished seventh
with 8.05m on his first-round
attempt, his lowest placing
in a final since July 2012. The
remainder of hi series was
four fouls and a run-through
6.52m.
Caterine Ibarguen led the
women’s triple jump from
start to finish, showing remarkable
consistency early in
unpredictable wind conditions
– 14.68m, 14.70m, 14.68m
and 14.71m on her first four
jumps, before nearing her
world lead with 14.85m in
the fifth round.
Dinkesa Blames Poor
Okpekpe Race Outing on
Hot Weather
Duro Ikhazuagbe
Three-time Obudu Mountain
Race champion, Ethiopian Abebe
Dinkesa at the weekend blamed
his inability to finish in the top
20 of the 3rd Okpekpe 10km
Road Race on the hot weather
condition of the day.
Abebe who along with his
Ethiopian Dawi Fikadu were
tipped as favourites for the
Okpekpe $25,000 top prize
failed to reproduce the feat
that made him a household
name in half marathon in the
continent. Fikadu placed ninth
in 30:18mins in the race Kenya’s
Alex Korio Olotptip won with
29:20mins while Ethiopia’s Leul
Gabrasilasis (29:22) and Amos
Muteh of Kenya (29:24) were
second and third respectively.
Dinkesa told THISDAY while
receiving treatment from medical
personnel tha the weather was
too hot for him.
“You see (pointing at his
soaked top, short and aching
leg) not good. Hot weather, bad,”
muttered Dinkesa who finished
as first runner behind Kenya’s
Kemboi Hilary Kipkorir on this
same course last year.
Asked if he was coming
back next year, he smiled and
nodded in affirmation. Of course
the $25,000 top prize money
appears too tempting to ignore
in just a 10km race.
But before then, the 2008,
2010 and 2012 Obudu Mountain
Race champion admi ted
he would return to Nigeria in
late November to hunt for the
do lars on offer in Obudu Resort.
“I wi l come to Obudu.
Weather better than this,”
stressed Dinkesa with finality
as he was been chaperoned into
the a signed bus for the invited
foreign athletes by Nigeria’s best
quarter miler of a l times, Falilat
Ogunkoya-Omotayo
In the female category of the
Okpekpe race, Kenya’s Tanui
Nkele led the strong field in
33:34 to claim the top prize while
her compatriots Rino Ripo (33:52)
and Mary Wasera (34:31) made
it a 1,2,3 clean sweep for the
visitors from Nairobi.
The first prize winners in both
the male and female categories
went home with $25,000 each,
while the second and third prize
winners got $15,000 and $10,000
each in both the male and female
categories.
Edo State Governor, Adams
Aliyu Oshiomhole, fresh from
ma ri
Yejide Girls Set, as Lagos, Oyo Dominate
Western Conference
Yejide Grammar School Ibadan
Oyo State, which has picked the
first semi final ticket in the girls
category at the ongoing Western
Conference playoffs in the Nestle
Milo Secondary Schools Basketbal
Championship taking place in
the indoor sports hal of Liberty
stadium, Ibadan.
The hardworking Ibadan side
defeated Qu en Elizabeth School
Ilorin, Kwara State 53-05 points.
Team coach, Yemi Abiodun,
praised his girls for their resilience:
“I asked my players to take it
easy and play their normal
game without
State silenced highly rated
Ugborikoko Secondary School
Wa ri, Delta state by 10-08.
In the other quarter final
matches, Anglican High school
Ado Ekiti, defeated Regina
Mundi Girls Secondary school,
Iwo, Osun State by 52-05, while
Wesley Girls Senior of Lagos state
over powered Qu en of Rosary
ColegeOnitsha, Anambra state,by
56-08.
The semi final matches are
biled for today at the same venue
with hosts, Yejide Grammar School
Ibadan c
Bowie, by almost a metre, 10.98
to 11.07. Jamaican Olympic
champion She ly-Anne Fraser-
Pryce trailed home in fifth place.
“My race was pre ty good,”
Okagbare said after the race. “It
is not easy to compete with the
best of the world – but I won. I
focused on my start. Norma ly
I don’t have the best start, but
now I was leading from the
beginning.”
Barely a fortnight ago, Okagbeau,
Lara, the previous day
finished top in the VIP race in
88 mins.
“I want to congratulate myself
just as the winner congratulated
himself because doing the 10km
after a l the activities of yesterday
(his ma riage ceremonies) reassured
me that I am sti l fit. I
want to congratulate a l those
who have participated in this
year’s edition. I congratulate of
course those who are going away
with prizes, but we should even
congratulate more those who are
not going away with prizes but
who participated in this exercise.
I think I am one of those who
will not be going away with a
prize in spite of my e fort,” joked
Oshiomhole who was very happy
for the international exposure the
race has created for him and the
Okpekpe community.
“I am excited that Okpekpe
community is not only now on
the world map but people from
various parts of the world, from
various countries from various
continents are now participating
actively in what has become
known as the Okpekpe Annual
10Km race and we saw tha this
year we have more participants
than previous years and by logic,
we wi l expect that every year,
more and more people wi l
participate in it,” he noted.
Oshiomhole insisted that his
administration’s investment in
opening up rural Edo State
communities through ma sive
construction of modern roads
has continued to yield positive
results.
“For me, this is one practical
way to remind a l of us tha there
is life outside urban city and that
the real Nigerians, the forgo ten
majority are in our rural areas. So
Okpekpe people I congratulate
you for playing host to a l of
us,” concludes the Edo State
chief executive who also used
the o casion to ca l on those in
the hospitality industry to come
over and invest in hotels and
other areas in the sector.
42 athletes from 15 countries
participated in the 3rd Okpekpe
race that received IAAF Bronze
Label status late last year.
Amongst the dignitaries that
watched the race was Mrs
Lara Oshiomhole, the newly
ma ried wife of the Edo State
governor No lywood stars
like Kanayo O. Kanayo,
Desmond E liot, Aki and
Pawpaw famed acto
In the boys’category, Don Domingo
Secondary School Wa ri, defeated Ado
Grammar School Ekiti by 28-15, while
Government Secondary Ilorin, Kwara
State sent host boys Loyola Co lege
Ibadan packing by 37-33. Lagos
and Ogun state walked over their
opponents from Anambra and Osun
State respectively in the other quarter
final match. The Anambra and Osun
boys teams were disqualified during
the scr ening exercise.
The semi final pairings in the boys
category are Lagos versus Kwara in
first semi final game and Ogun State
versus Delta state also today.
Leopards Devour Warri
Wolves in Congo
N
NEWS
PDP Rules out Change of Name
The Peoples Democratic Party
(PDP) has stated that despite
losing control of the federal
government and some of its states
in the last general election, it is still
the truly national political party with
strength and spread enough
to regain pre-eminence.
Page 8
INTERNATIONAL
Egypt’s Former President Sentenced
to Death
An Egyptian court has pronounced
death sentences on former
president Mohammed Morsi and
more than other people over a
mass prison break in . Morsi
is already serving a -year prison
term for ordering the arrest and
torture of protesters while in
power. Page E
SPORTS
Okagbare Takes the Gold in Shanghai
Africa and Commonwealth sprint
champion, Blessing Okagbare,
sign-posted what to expected
at this year’s IAAF World
Championship in Beijing, China
when she won the Shanghai leg
of the Diamond League
yesterday. Page 70
government and some of its states
the truly national political party with
MONDAY MAY 18, 2015 • T H I S DAY
8
NEWS News Editor Davidson Iriekpen
Email davidson.iriekpen@thisdaylive.com
Chuks Okocha and Onyebuchi
Ezigbo Ezigbo in Abuja
The Peoples Democratic Party
(PDP) has stated that despite
losing control of the federal
government and some of
it states in the last general
election, it i sti l the truly
national political party with
strength and spread enough
to regain pre-eminence.
The party therefore stated
that it was not contemplating
a change of identity, noting
tha the una sailable vision of
its founding fathers remains
timele s in building a Nigeria
of the co lective wish and
aspirations of a l citizens.
A statement by the
National Publicity Secretary
of the PDP, Olisa Metuh,
yesterday, said having been
the guardian of Nigerian
democracy for 16 years
during which it nurtured
and blossome democratic
governance as we l as etched
its name in the pantheon of
good governance, the PDP
wi l not in the circumstance
of ephemeral loss of power
change its identity or its
time-honoured characteristic
values.
The party said though it
is resolutely commi ted to its
present structures, it would
not close its doors t other
political parties wishing to be
a similated into its fold as the
best vehicle for the fulfilment
of political aspirations of a l
Nigerians regardle s of tribe
and religion.
“We have a name, tradition
and values. 16 fruitful years
as the guardian of Nigerian
democracy cannot be nu lified
by the reason of temporary
setback. We sha l rise beyond
a l and regain ou rhythm.
Our colour remains green,
white and red and power
sti l belongs to the people.
And to assert that we are
proud of the su ce ses of our
succe sive leaders in taking
Nigeria to its present height is
an understatement, which the
pa sage of the next four years
under the A l Progressives
Congre s (APC) wi l certainly
prove,” the party said.
It added that the fact
that the PDP is going into
opposition would not mitigate
its ability as the flagship of
democracy, maintaining that
it wi l soar higher in proving
credible alternative as a
constructive opposition, far
removed from the wrathful
destruction tha the APC lived
thus far.
“We have no doubt lifted
the banner of democracy
very high and only wish
that the APC wi l move
beyond excuses when it
takes over in a few days
time to reconcile mouthful
promises with the reality of
fulfilment. We have not only
laid a solid foundation, we
have built to a height that
no denial can wish away.
“We therefore ca l
on a l our members to
ensure that they are not
in any way distracted but
remain focused as the unity,
cohesion and regenerative
capacity of the PDP is very
much intact, election loss
notwithstanding.”
Meanwhile, the Labour
Party (LP) yesterday said
there was no move for an
a liance or merger with
the PDP or any other
party, describing any such
insinuation as the handiwork
of some mischievous people.
There were reports late
last week of an impending
merger of the PDP with the
LP, All Progressives Grand
A liance (APGA), Hope Party,
and KOWA Party to form a
formidable mega opposition
party to cha lenge the APC.
It stated that PDP members
including Governors Sule
Lamido, Godswi l Akpabio,
Babangida Aliyu and a few
others have been pushing
for an a liance with other
parties.
According to the report,
other PDP chieftains such
as former defence chief,
Theophilus Danjuma, and
former finance minister,
Adamu Ciroma, suppor the
move, and have planned for
a special convention after
the handover on May 29
where a formal merger
process would start.
The report also disclosed
that the merger option was
being considered because the
PDP Rules out Change of Name
word “PDP” had become
toxic and un-se lable to
Nigerians and as such, it
wi l be counterproductive
to continue to use it as a
viable opposition party.
However, while reacting
to the reports, LP said it
was highly irresponsible for
anyone to drag its esteemed
name into rumours of an
impending merger
In a statement issued by
the National Secretary of the
LP, Kayode Ajulo, the party
debunked the report as “false
and diversionary,” stating
that at no time whatsoever
had the leadership of the
party entered into merger
talks with any other party.
“The rumoured talks of
a merger between the LP
and other parties such as
the PDP is a figment of the
fevered imagination of some
mischievous peoples. Such
an i sue has not been raised
within the party exco at all,
and neither has anyone or
any party has any agreement
on the issue with us.
“It is highly irresponsible
for anyone to drag the
esteemed name of the Labour
Party into rumours of an
impending merger. If at all
anyone has entered into any
such talks, he is doing it
strictly on his own, not in
the name of the LP,” the
National Secretary said.
Ajulo affirmed that
political power o relevance
for its own sake is not the
goal of the LP, adding that
the party was commi ted
only to the cause of the
Nigerian workers and the
masses in general.
“Our goal is not just to
seek power o relevance; we
are committed to a leviating
the su ferings of all Nigerians.
We are therefore prepared to
work with anyone who wi l
pu the Nigerian people first,
and seek to bring succour
to the homes of Nigerians
everywhere across the nation.
“We wi l cooperate with
any government, group and
individual that shows with
its policies and actions that
it truly seeks to bring relief
to Nigerians, that is also our
desire, so it is only reasonable
to cooperate with such groups,
if any,” Ajulo said.
He described such a
proposition as impo sible,
“that cannot be. LP is
a discipline party, It is
impossible for anybody to
consider a serious, any talks
which exclude the National
Secretary of the party as we l
as the National Working
Committee (NWC) of the
party, so I can a sure you
tha there were no such talks.”
Ajulo, who said he just
returned into the country
after a trip to Britain as an
Accredited International
Observer to monitor the just
concluded general elections
of May 7 in the United
Kingdom, also stated that
he had remained in close
communications with the
party’s national chairman and
other national hierarchy a l
through his trip, and that no
mention had been made of
any merger talks with anyone.
“Maybe the advocates
of such merger are just
expressing their wishful
thinking. It is my opinion
tha this a legation is a mere
rumour and nothing but a
figment of their imagination,”
he said.
Says its ideology, national outlook intact Labour Party denies merger talks with party
MOURNING A BELOVED UNCLE
L-R: Delta State Governor, Dr. Emmanuel Uduaghan; his wife; Roli; and Manager, Nigerian National Petroleum Corporation (NNPC), Wa ri,
Mr. Omaghomi Victor, a the burial of Pa. Samuel Uduaghan, at Abigborodo Wa ri North Local Government Area . weekend
Chika Amanze-Nwachuku
Seplat Petroleum Development
Company has said the pioneer
tax incentive granted it made
it po sible for the company to
boost oil and gas production,
provide employment
opportunities and help grow
the Nigerian economy.
Responding to a recent
a legation that it had benefi ted
from improper tax waivers in
relation to its grant of pioneer
tax incentive by the federal
government, Chief Executive
Officer of the company, Austin
Avuru, said in a statement
that in 2013, the company
applied for pioneer status
incentive through the Nigerian
Investment Promotion Council
(NIPC) as the government body
responsible for investment
promotion.
Avuru said the company
followed the prescribed
process for application and
provided a l the information
and documentation required
in support of the application.
The incentive, he noted
was part of an industry wide
exercise and Seplat was one out
of 15 oil and gas companies
that were granted the pioneer
tax incentive.
According to Avuru, Seplat
had fu ly re-invested the tax
savings from the grant and
has delivered verifiable results
thereto.
He said: “Seplat believes that
it is an excellent example of the
whole purpose of establishing
the pioneer incentive scheme.
The Company has fu ly reinvested
the tax savings from
the grant and has delivered
verifiable results thereto.
“Seplat is now a key supplier
of gas to the domestic market,
which is the direct outcome of
the pion er incentive granted to
SEPLAT and aims to continue
to contribute meaningfu ly to
the growth and development
of the Nigerian economy.”
Reeling out benefits
from the tax holiday to the
Nigerian economy, Avuru
said: “The grant of pioneer
status has made it po sible
for Seplat to boost oil and
gas production, provide
employment opportunities,
impact on their communities
and help grow the Nigerian
economy.”
He added: “Gas production
rose from an average of
90mmscfd to a cu rent level
of around 200 MMscfd with
a target of 300 MMscfd by
the end of 2015. This increase
has been driven by an over
US$300 mi lion investment in
gas development over the tax
holiday period.
Oil production has grown
from a daily average of 14,000
ba rels in 2010 to the cu rent
daily rate of over 70,000 ba rels.
The statement also added that its
royalty payments have gone up
from an average of $40 mi lion
per annum in 2010 to US$147
million in 2014.”
Furthermore he said the
company had continued to fund
the NPDC/SEPLAT JV to drive
these outstanding growths in
oil and gas production despite
being owed substantial sums in
unpaid cash-ca ls from Nigerian
Petroleum Development
Company. (NPDC).
The statement added that the
tax incentive has also helped
Seplat in creating over 300 new
jobs and delivering several
community development
projects in their operating
areas, adding “the multiplier
effect of our over US$7 0 milion
in annual expenditure through
Nigerian contractors adds over
1,000 additional jobs.”
Seplat Reels out Benefits of Tax Incentive
to Nigerian Economy
From May 29, the presidentelect,
Muhammadu Buhari,
wi l drop ‘General’ as his title,
while his deputy seeks to be
described with his academic
title of profe sor.
Briefing journalists in
Lagos yesterday, the head
of the Directorate of Media
and Publicity of Buhari’s
campaign organisation,
Garba Shehu, said Buhari
would simply be addre sed as
Muhammadu Buhari, President
and Commander-in-Chief of the
Armed Forces of the Federal
Republic of Nigeria.
Shehu said Buhari would
not like to be addre sed as
Mr, Alhaji or Ma lam either
but simply as Muhammadu
Buhari.
“From May 29, 2015, the
president-elect and vicepresident-elect
are to be
respectively known and
addressed as Muhammadu
Buhari, President,
Commander-in-Chief of
the Armed Forces Federal
Republic of Nigeria and Prof.
Yemi Osinbajo, SAN, Vice
President, Federal Republic
of Nigeria.”
Buhari may have
fo lowed the foot steps of
former President Olusegun
Obasanjo who upon his
a sumption of office in 1999
as a democratica ly-elected
president, je tisioned the prefix
of ‘General’ for Chief.
Buhari to Drop ‘General’ from
His Name from May 29
CITYSTRINGS
50 T H I S DAY • MONDAY, MAY 18, 2015
T
he time was 3.14pm on a certain
Monday. The venue was the
hangar of International Helicopter
Flying School (IHFS), Emene,
Enugu. Under the blistering sun
was the maestro, Group Captain
Ayo Jolasinmi and hi student- Edet Okon.
No, they were not part of the new order
that worships the sun. The reason for their
outdoor presence was not far-fetched. It was
time for practice.
And so they boarded the helicopter as
co-pilot and pilot. The student alongside his
instructor after fo lowing the ground safety
rules took o from the runway of the Enugu
International Airport, with this reporter as a
pa senger.
Round and round the helicopter flew,
circling the airport three times. The silence
in the helicopter was intermi tently broken
by the static and air waves emanating from
the earpiece and interjection of soft co rections
from the teacher to the student.
Soon enough, both the rector and this journalist
got down and the studen took o f on his
solo flight. With arms of steel sharpened by
his desire to be the best he can, he steered the
helicopter and wa soon soaring in the skies.
Okon is merely one of the numerous
students (presently 23 students and 43 past
grandaunts) that a tend the IHFS to harne s
and nurture their dreams of soaring the skies
as a helicopter pilot.
For such students, their a traction to flying
borders in between soaring with the elements
and enjoying the abundant opportunity flying
o fers.
Jolasinmi, who also doubles as the rector
of the school, tota ly agrees with this. With
a smile playing on his lips he said: “Flying
is a magnificent job. It’s one job that brings
ou the real you and demands a l from you.
“Especia ly flying helicopters brings you
close to nature. It’s a versatile flying unlike
the fixed wings (aircrafts and aeroplanes).
“With the helicopters, you can save soul,
rescue people on the seas and mountains. You
bring firing power to bear in every facet of
human endeavour. Flying the helicopter is
a pa sion.
“If you have the desire, you can neve regret
it. It’s fulfi ling and satisfying. However, it’s
demanding. It’s demands in depth search
for knowledge, right a titude and safety
consciousne s.”
For him, IHFS, a private-public partnership
initiative, was borne out of the need to help
anyone else with a pa sion for flying to realise
that ambition.
He believes that this unique partnership
is a versatile tool for the enhancement of
civil-military cooperation, thereby harne sing
available resources to stimulate the development
of the aviation industry in line with the
transformation agenda of President Goodluck
Jonathan’s administration.
Thus, he said the IHFS is positioned to
infuse impe cable and dogged military flying
experience into the robust and versatile civil
aviation world through its enriched knowledge
base training.
In the Beginning
It a l started as a dream of the former Chief
of Air Sta f (CAS), Air Marshal Mohammed
Umar, but has over the years evolved under
the administration of the su ce sive Air Force
Chiefs.
With its fu ly-integrated training program
designed towards making students become
safety conscious, ski led and profe sional
pilots, IHFS believes tha the trainees would
be competent in operating at a l levels in the
commercial, military and corporate aviation
sectors.
Indeed, the school’ se ling point lies not
only in providing it students with a solid
foundation in a l critical areas of aviation theory
and flight ski ls, but also teaching them how
to work e fectively in the constantly changing
environment of the skies.
Thus at its inception ceremony held in Lagos
two years ago, when the school was officia ly
a credited and certified, the then Director General
(DG) of the Nigeria Civil Aviation Authority
(NCAA), Captain Fola Akinkuotu, had urged
them to strictly adhere to safety procedures.
Flying School
IHFS wa set up by TRIAX Nigeria Limited
and Aeronautical Engineering & Technical
Services Limited (AETSL), a subsidiary of NAF
Holding Company, which formed AETSL-TRIAX
Limited through joint venture a rangement.
With a sta f strength of 50, including 25
civilians and 25 Air Force personnel, It’s vision
is to harne s a formidable helicopter flying
school tha trains and grooms youngsters into
profe sional pilots.
With the fees are as high as 197, 980 do lars
(approximately N16mi lion) for each student,
the idea to start the school in 2010 have attracted
students with the pa sion for flying
acro s a l sectors.
Already, the services including the police have
had some of their students pa s through the
school. Also, some states like Yobe and Enugu
have sponsored some of their bri liant students
to the school. Not left out are government
personnels and few private individuals.
However, having the pa sion to fly is not
a l it entails. The aspiring student must not
be le s than 17 years of age and must have
five credits in O’level including Maths and
English.
THISDAY gathered tha the school however
runs three types of training programmes which
includes the private pilot license, instrument
rating and commercial pilot license.
While the private pilot license programme
that leads to the award of Private Pilot License
(PPL) is intended for student pilots learning to
fly as a hobby or those planning to purchase
their own helicopters, it is also the first step on
the path to Commercial Pilot License (CPL).
A cordingly, the total fligh training consists
of an average of 24 to 47 flight hours on the
R66 helicopter and Fly it simulator.
The course is inclusive of training in basic
flying instrumen to ensure tha the trainees
have the capabilities to safely operate under
Special VFR conditions and improve their
instrument scanning techniques.
For the instrument rating, it gives a pilot
the ability to cope with unstable weather
conditions in which he/she might operate
from time to time.
Thus, the instrument rating is e sential for
both career and safety reasons and a fords
the holder of the rating more versatility than
a non-instrument rated pilot and ultimately
makes the holder safer and more confident
in the air.
For those who desire the license for commercial
purposes, the school designed a sy labus
to prepare them for the practical demands
of profe sional flying through the total flight
training which consists of an average of 55
to 120 flight hours (PPL inclusive) on the R66
helicopter and Fly it simulato respectively.
For eligibility at the end of the course,
the student’s cours encompa ses advanced
maneuvers and additional cro s country flights
to mee the requirements for Commercial Pilot
License.
Growing the Dream
That was the dream at its inception bu the
school has grown beyond what it started with.
With more instructors, additional helicopters, a l
turbine-engine, the school has certainly come to
stay, especia ly with its toga of being the first
helicopter training school in the sub-region.
According to Jolasinmi, since the school is
built on the tripod of profe sionalism, experience
and safety, they have experienced proficient and
dedicated flight and ground instructors who
Features Editor Adeola Akinremi
Email adeola.akinremi@thisdaylive.com
Chiemelie Ezeobi writes on a new breed
of young, budding high flyers whose
passions know no bounds
Squadron Leader Doyin Komolafe (L) instructing the pilots for take off
An Air Force instructor with some students
High Flyers
It all started as a dream
of the former Chief of Air
Staff (CAS), Air Marshal
Mohammed Umar, but
has over the years evolved
under the administration
of the successive Air Force
Chiefs
16 T H I S DAY • MONDAY, MAY 18, 2015
POLITICS
Plateau’s Peace of the Graveyard
Will Plateau State – a one-time serene and tourist destination –
ever know peace again, asks Seriki Adinoyi
CONT’D ON NEXT PAGE
T H E M O N D A Y D I S C O U R S E
O
ver the last decade, the political
crisis over ‘indigene’s rights’
and political representation
in Jos, the capital of Plateau
State, has evolved into a
protracted communal crises
that had spread into even the remotest of
the vi lages in the state, with at least 4,000
persons ki led since late 2001, when the first
majo riot broke out in the state.
Fourteen years on, only the heavy presence
of military and police forces has brought
about a fleeting and fragile peace in the state,
which is constantly punctuated with the many
ki lings in the vi lages. But evidently, a heavy
military presence is no durable solution.
The peacefu lifestyle of Jos gradua ly gave
way to suspicions and tensions between
ethnic groups, caused either by a location of
resources, electoral tu sles, contest over land
rights, or religious domination fracas, which
eventua ly amalgamated into an explosive
mix that has consumed hundreds of lives.
The presence of we l-organised armed
groups in both the urban and rural areas
became the order of the day, with a tendant
proliferation of weapons, and significant
rise in gun fatalities among the citizens.
Subsequently, long-standing tensions
within sma ler towns and vi lages in the
state escalated into violence.
The ki lings only came to a hal tentatively
when the federal government declared a
state of emergency in 2004, after about 700
people were slaughtered in cold blood in
an a tack on the town of Yelwa in southern
part of the state.
Clashes between Muslim and Christian
youths rocked the state again in 2008 after a
result local government election was violently
contested in Jos North Local Government
Council, leaving dead at least 700. The year
2010 was one of the worst on record, with
more than 1,000 lives lost. The sleeping vi lage
of Dogo Nahawa was swooped upon by
suspected Fulani militia, leaving hundreds
of beheaded women and children in the
wake of it. This was shortly after a crisis
broke out at Dutse-Uku over an e fort by
a man to rebuild his house that was razed
in an earlier crisis.
The list is endle s, and human cost of the
violence is immense. The number of interna ly
displaced persons that have become homele s
since 2001 peaked in 2010, with over 50,000
persons in various camps across the state.
After the 2008 riot alone, more than 10,000
were displaced, while violence in 2010 resulted
in about 18,000 people fleeing the clashes.
Numerous houses and shops in Jos have
been burnt, with blackened remnants li tering
the streets in many parts of the city.
A l sides of the divide su fered massive
losses. The violence and displacements of
persons have re-shaped Jos and many rural
se tlements, as neighbourhoods became
religiously segregated, with many ‘no-go-areas’
altering the pa terns of residency, business,
transportation, and trade.
Students of the University of Jos, situated
in the neighbourhood of the Muslim community,
su fered more, as many o f-campus
students became victims of the onslaught.
In spite of the huge losses, the people
have refused to steer clear of crisis; they
have refused to co-exist peacefu ly, even with
succe sive governments’ e forts, showing that
there are deep-seated hatred and animosity
which must be addressed if enduring
peace must return to the once serene and
peaceful Jos.
Geographica ly, Plateau State lies in the
middle Belt of Nigeria, between the predominantly
Muslim north and the mostly
Christian south. Historica ly, Jos was one
region tha the Usman da Fodiyo Jihad could
not ove run, after it conquered and took
over Bauchi and subsequently established
an emirate therein.
The city of Jos, established around tin mining
activities during colonial times, a tracted
migrants from a l parts of Nigeria to work in
the mines and with the colonial administration.
The colonia legacy of indirect rule initia ly
relied on northern emirate structures. Later,
political power was transfe red to the ‘native’
tribes of the Plateau.
Among these, the Berom were one of the
larges tribes and they most voca ly defend
‘indigene’s rights’ today. But the Hausa
migrants from the north constituted by far
the most numerous group in the early Jos.
Today, the ownership of Jos and claims to
the ‘indigene’ status are fiercely contested
between the native tribes and the Hausa.
Indigene certificates ensure acce s to political
representation and positions within the civil
service and beyond.
Only local governments issue these cer-
Fourteen years on, only the
heavy presence of military
and police forces has
brought about a fleeting
and fragile peace in the
state, which is constantly
punctuated with the many
killings in the villages. But
evidently, a heavy military
presence is no durable
solution
Group Politics Editor Olawale Olaleye
Email wale.olaleye@thisdaylive.com
08116759819 SMS ONLY
A scene of an attack on a Jos town
BUSINESS
FG’s Revenue Drops by 21% in
February
Nigeria’s federally-collected
revenue reduced to N.
billion in February . The
estimated federallycollected
revenue in February ...
Page 27
POLITICS
Plateau’s Peace of the Graveyard
Over the last decade, the political
crisis over ‘indigene’s rights’ and
political representation in Jos,
the capital of Plateau State,
has evolved into a protracted
communal crises that had spread
into even the remotest of the
villages in the state, with at least
, persons killed since late
... Page 16
FEATURES
Closing the Infertility Gap
In the middle of the slim street,
the engine of one of the cars had
stopped breathing. But movement
on Norman Williams Street— a
roadway famous not only for its
name in one of Nigeria’s affluent
Lagos neighbourhood, but also
for the businesses sited on it—
continues on the go. Page 24
EDITORIAL
Still On The Apapa Traffic Gridlock
The Association of Nigeria Licenced
Customs Agents (ANLCA) said
last week that the nation was losing
about N billion daily on account
of the traffic gridlock along Oshodi-
Apapa Expressway, Wharf Road,
Marine Bridge, Ijora and Orile-
Iganmu. Page 15
CITYSTRINGS
High Flyers
The time was .pm on a certain
Monday. The venue was the
hangar of International Helicopter
Flying School (IHFS), Emene,
Enugu. Under the blistering sun
was the maestro, Group Captain
Ayo Jolasinmi and his student- Edet
Okon. Page 50
stopped breathing. But movement
24 MONDAY, MAY 18, 2015 • T H I S DAY
FEATURES Features Editor Adeola Akinremi
Email adeola.akinremi@thisdaylive.com
Closing the Infertility Gap
I
n the middle of the slim street,
the engine of one of the cars had
stopped breathing. But movement on
Norman Wi liams Street— a roadway
famous not only for its name in one
of Nigeria’s affluent Lagos neighbourhood,
but also for the businesse sited on
it—continues on the go.
On Norman Wi liams, a street o f the
famed Awolowo Road, Ikoyi, Lagos, financial
advisers are tending to their clients inside
their offices when I a rive there this wintry
Tuesday afternoon. I’m on a mi sion to see an
e clesiastic whose faith in science is changing
the mood for the women in the country.
At a corner of the street, where Dr. Abayomi
Ajayi’s in vitro fertilisation (IVF) clinic sits,
there is no clear di ference in its outlook in
comparison t other offices around it, until
you’re inside the clinic. It’s because Nordica
Fertility Centre is not a natural birthplace.
“Nordica Fertility Centre is a reputable
and leading a sisted conception centre with
top-cla s medical facilities in Lagos, Asaba
and Abuja. Our core competence is infertility
management,” Ajayi says with a sense of
purpose.
Yes, it is the rule of the thump for women
age 34 or younger in otherwise perfect health
to try to conceive natura ly for one year
before a medical consult is advised.
But where a woman is 35 and unable to
achieve conception, the likes of Ajayi are
concerned. Of Course, there are numerous
fertility problems that can be treated easily,
but some make it nearly impossible to
conceive without medical a sistance, one of
many examples is blocked fa lopian tubes.
So in 1992, Ajayi, whose passion for
technology ha seen him moved ahead of
his personal cha lenges, decided to g on
a di ferent path. “The day I rea ly decided
I was going to do infertility management
was in 1992, while performing a surgery on
a patient a the University Co lege Hospital
(UCH), Ibadan – a tuber surgery (that is,
the tubes are blocked). Sometimes, when
we performed thi surgery, we had an idea
that what we were doing was nonsense – It
wasn’t working.
“The patients couldn’t get be ter. We knew
tha the tubes were very badly damaged. We
had finished the surgery on this very patient
and we a l knew the surgery was not likely
to work. Then I asked my consultant ‘what
do you think we can do for this patient’?
And he said, ‘yes in advanced places they
would have done IVF’. And I said ‘why are
we not doing IVF?’ And he laughed. That
day I decided I was going to do IVF,” he
says with a wry smile.
I ask him if he had an idea of what he
wanted to do for a career as a young man
just to understand where his real passion
lies. He replies that his plan was to be an
aeronautical engineer.
“I always wanted to be a scientist, but
the funny thing was that my first love was
aeronautical engineering. But my eyesight
has never been the best – I started using
glasse since I was 12 – and that made me
had a rethink at the age of 15. So, I visited
MediLag, and I saw some young people in
white coats, and I just decided to be a doctor,
come what may. That was how I switched
over to medicine. I’ve always been good
in what was required to do medicine, but
I didn’t rea ly want to do it initia ly. When
I was writing my JAMB in 1978 – we were
the first set – my first choice was Medicine,
second choice was Medicine, third choice was
Medicine; I was not looking back,” he says.
So after his laboratory experience in 1992,
for the next few years, Ajayi devoted himself
exclusively to his new projec to help people
he cla sified as a people a the short end of the
string. Clearly, his fondne s for technology
combined with pa sion to help ha seen him
turned the tide for many women and to the
zenith of his career as a fertility doctor. He
te ls me that much. “I like technology. In my
house, even my children, they ca l me Mr.
Technology. I buy the lates technology – I just
love it. Some I can’t even operate anymore
because I don’t have the time. The second
thing, I love standing up for people who
are su fering. There’ something in me that
stands up when I see people who are a the
short end of the string – and that’s the way
I see infertility. Those two things combines
is what got me to where I am now.”
And when I tease him about how expensive
it can be to have IVF, he reveals his mind
about value for money. He seems genuinely
outraged to hear it being transgre sed. For
instance, Ajayi calculates the cost of having
a car and the cost of having good health
upon which the usability of the car depends
di ferently and then strikes a balance.
“When you say expensive, be careful. I
can use the cost of a car and telephones to
speak to you on that one. 10 phones at the
cost of N100,000 each wi l not be up to that
child I saw on Sunday,” he says drily with
reference to a child birthed through IVF in
his clinic who curled up to him at a ma l
in Lagos on a recent Sunday.
He adds: “One thing you need to do:
make your priorities if you wan to do IVF.
Everywhere in the world, IVF is not cheap.
It’s technology. Anything that’s based on
technology cannot be cheap, until a time
comes. Do you know how many generators
I have here? The water that we use in
the laboratory, we import from the United
Kingdom. The gloves we use – which are
powder-free – we get from Germany. So, te l
me if you want people no to cut corners, how
expensive IVF can be? I shudder at people
who think we are too expensive, because
people like that open themselves to go to
the wrong places. Because, it’s po sible for
me to use ordinary gloves that have powder,
but in IVF we must use powder-free gloves
and for me to do that, I have to buy it from
Germany. So, when the only thing we start
talking about is cost, we become like some
countries I don’t want to mention where
quality has taken a dive.
“For me, what I te l my patients is that
‘you need to understand what we are doing
first’. And then you can decide for yourself.
We are not expensive, we are not cheap.
It’s just like I wan to go and buy an apple
computer or other apple products, and I
say it’s expensive.”
Ajayi is a Baptist Deacon with unusual
devotion to the Bible, but he sees no clash
between his faith and science. For him,
God has given the knowledge; ignorance is
what makes people to remain perpetua ly in
problems. “If you say God does not approve
of IVF, I say you are ignorant. I’m a Baptist.
I’m a Deacon. I’m a Sunday School teacher.
I know the gospel. I wi l say to you, when
you have appendix and pain, don’t go to
the hospital, God wi l do it. Am I saying
God cannot do it? No. But God chooses
what he wants to do; you don’t put his
hands into things.
“And when the bible says ‘secret things
belong unto the lord and the things that
are revealed belong to the son of men’ IVF
is one of those things he has let us know,
if you like you can use it, if you like don’t
use it; that’s your personal decision, don’t
bring God into them. Simple,” he says trying
to explain the relationship between science
and faith.
To be sure, he says everything depends on
God, even with IVF. “I liken what we do to
a man planting corn. In the Bible, Paul said,
“Paul sows, Apo lo waters, it’s the God that
gives increase’. If your laboratory works we l,
you know what you are doing, your sta f is
trained, by the time you have transfe red the
embryos and your procedures are contro led,
it’s only left to God. There is a God factor
in it. That’s why when people say we are
playing God, I just laugh. That’s wh you
must know the technology itself, what are
the limitations of the technology, why does
this technology have these limitations? As
of now, when we pu th embryos there, in
the proce s of what we ca led implantation,
we have no control of that,” h explains.
True, IVF is controversial, especia ly
among the people of faith and it has its
stigma too in cultural se ting. In Nigeria,
over the years women have lived painful
life of childle sne s without recourse to IVF,
but Ajayi says things are changing because
of awareness and be ter knowledge of IVF
method.
Clearly, his fondness for
technology combined with
passion to help has seen
him turned the tide for
many women and to the
zenith of his career as a
fertility doctor
Adeola Akinremi spends an afternoon with one of Nigeria’s famous fertility
doctors, Abayomi Ajayi, who has been helping women to beat the odds of infertility
through in vitro fertilisation
Dr. Ajayi
27
Quick Takes
Total Pension Funds Hit N4.7 Trillion
Ebere Nwoji
The total pension funds
cu rently a cumulated in the
country stand at N4.7 tri lion
as at December 2014, Chairman
of Premium Pension Limited,
Aliyu Dikko ha said.
This figure, a cording to him,
represents an increase of N0.6
tri lion from the N4.1 tri lion
in 2013.
The cu rent figure was
contributed by 6.5 mi lion
workers who have enro led
into the contributory Pension
scheme (CPS) as at December
2014, an increase of 0.4 million
contributors against the
previous year’s figure of 6.1
mi lion contributors.
Disclosing this a the 10th
Annual General Meeting of
his company held in Abuja,
Dikko, whose company is one
of the licensed Pension Fund
Administrators said the above
improvement shown by the
figures was an indicative of
the fac tha the teething challenges
of the pension industry
had been surmounted and the
initial skepticism trailing the
operations of the contributory
Pension Scheme drastica ly
reduced.
“The CPS is today arguably
the most su ce sful government
initiative in recen times and a
clear testimony to the e fectivene
s of private-sector-driven
rendition of service in critical
sectors”, he stated.
He noted that the year
2014 marked 10 years of the
introduction of the Contributory
Pension Scheme (CPS) in the
country, adding tha the year
also witne sed the promulgation
of the
Pension Reform Act 2014,
which repealed the Pension
Reform Act, 2004.
He noted that the new act
e fected a lot of relevant changes
into the pension scheme.
“This new legal instrument
ECOBANK PRE-AGM COCKTAIL
L-R: Managing Director, Ecobank Nigeria, Mr. Jibril Aku, Chairman Ecobank Foundation,Chief Philip Asiodu; Chairman, Ecobank
Transnational Incorporated (ETI), Chairman, Ecobank Nigeria, Mr. Emmanuel Ikazoboh; Chairman, Elizade Nigeria Limited, Chief
Michael Ade Ojo; and Dr. Sonny Kuku during the ETI Pre-Annual General Meeting cocktail in Lagos .recently.
AKINWUNM IBRAHIM
Ethiopian Airlines Extends Service to Sao Paulo
Ethiopian Airlines has announced that it has started serving
Sao Paulo, a city in the fifth continent in its route network, with
a non-stop flight from Addis Ababa since April 25, 2015.
Ethiopian tri-weekly flights to Brazil are operated using the
ultra-modern Boeing 787 from the major hub in Addis Ababa. The
start of this non-stop service to Sao Paulo reduces transit stops
for customers traveling from the rest of Ethiopian destinations.
Brazil is the largest national economy in South America and
the eight in the world. Brazil has a diversified economy including
agriculture, industry, and a wide range of services such as
ecotourism, leisure and cultural tourism.
Sao Paulo is the biggest city in the country and has significant
cultural, economic and political influence both nationa ly and
internationa ly. The city is home to several important monuments,
parks and museums.
“We are very pleased to be able to enhance the quality of our
product and improve our competitive edge. The non-stop flight
secures increased connectivity and reduced transit time for our
customers. The new nonstop Addis Ababa – Sao Paulo flights
wi l provide efficient connections for customers from almost a l
of our destinations in the other four continents we serve. “Said
CEOof the airline, Tewolde Gebremariam.
Passengers to and from Sao Paulo wi l enjoy maximum connectivity
to destinations in Ethiopian world-wide route network
in Africa, Middle East, Asia and Europe. The new non-stop flight
wi l enhance travel on the China – Africa – Brazil trade lane.
LEAP Africa Focuses on Risk Management
Managing Director/CEO, Nestle Nigeria, Mr. Dharnesh Gordhon,
Managing Director, Lafarge Cement Wapco Nigeria, Mrs. Peju
Adebayo, Managing Director, Custodian And A lied Insurance
Plc, Mr. Wole Oshin, and Founder, Managing Director, JNC International
Nigeria Limited, Mrs. Clare Omatseye wi lead high-level
discussions at LEAP Africa’s chief executive officers forum for
sma l and medium enterprise (SMEs) on June 9, 2015 in Lagos.
LEAP Africa, a leadership development organisation and its
partners wi l converge 800 SMEs at the 10th edition of the CEOs
Forum under the theme Staying Ahead: Maximizing Profit and
Mitigating Risks. The speakers wi l deliberate on sectoral and
industrial risks, the need for SMEs to concentrate their efforts
in evaluating and managing their risk exposures for long term
sustainability.
According to LEAP Africa’s Executive Director, Iyadunni
Olubode, “SMEs should be proactive in managing risk instead
of being reactive. There is a common misconception that only
large companies need to manage risks, but this year’s CEOs Forum
seeks to address that and offer practical advice for entrepreneurs
on protecting their profits through risk mitigation strategies”.
The forum wi l provide cutting-edge solutions and best practices
in corporations to enable SMEs deal with risks in present political
and economic realities in Nigeria.
Three Crowns Rewards Patrons
In commemoration of the 2015 Mother’s Day celebration, Three
Crowns Milk, a brand from the stables of FrieslandCampinaWAMCO
has rewarded its esteemed consumers in the Mother’s Day
Activation campaign.
The grand prize winner’ Mrs. Olamide Olaleye, who emerged
as the ‘Mum of the Year’ won an a l-expense paid trip to Dubai
alongside a companion of her choice while 29 other mothers
were also rewarded with N50,000 shopping voucher.
The Three Crowns Milk Mother’s Day Activation is a Facebook
based campaign in which consumers are expected to write on the
Three Crown’s Facebook wa l why their mum is the best mum in
the world. These posts are judged on a daily basis starting from
April 28 to May 7 (10 days) and three were picked daily while the
overa l winner was adjudged on the last day of the campaign.
A cording to the Marketing Director, FrieslandCampinaWAMCO,
Mr. Tarang Gupta, the campaign is in line with the brand’s new
theme campaign which is deeply rooted in recognising the key
role of mothers in the family.
guiding the pension industry
has among other provisions
graciously increased the total
minimum contributions from
15per cen to 18per cent of the
employ e’s emolument, provide
basis for extending the scheme
to organisations having as le s
as three employees, a low RSA
holders to utilise part of their
balance as equity contributions
for mortgage facilities and
expanded the investment space
by providing legal framework
for investment abroad.
Describing the new law as
a great opportunity waiting
to be tapped by the industry
Continued on page 28
FG’s Revenue Drops by 21% in
February
Obinna Chima
Nigeria’s federa ly-co lected
revenue reduced to N560.84
bi lion in February 2015.
The estimated federa lyco
lected revenue in February
2015, a cording to the Central
Bank of Nigeria’s (CBN’s)
economic report for February
obtained a the weekend, was
lower than the receipt in the
preceding month by 21 per cent.
Similarly, the estimated amount
of revenue earned in February
was lower than the provisional
2014 monthly budget estimate
by 38.1 per cent.
The decline in estimated
federa ly-co lected revenue
(gro s) relative to the monthly
budget estimate was a tributated
largely to the shortfa l in receipts
from oil revenue during the
review month.
At N201.12 bi lion or 35.9
per cent of the total revenue,
gro s non-oil receipts was below
the provisional 2014 monthly
budget estimate by 35.0 per
cent. It was also below the
receipts in the preceding month
by 10.4 per cent. The decline
in non-oil revenue relative to
the provisional monthly budget
estimate reflected, largely, the
fa l in receipts from National
Information Technology Development
Fund (NITDEF) and
FG Independent Revenue,
a cording to the report.
Of the gro s federa lyco
lected revenue in a net sum
of N408.37 bi lion (excluding
deductions and transfers) was
transfe red to the federation
a count for distribution among
the three tiers of government
and the 13 per cent derivation
fund.
The federal government was
said to have received N194.35
bi lion, while the state and local
governments received N98.58
bi lion and N76.00 bi lion,
respectively. The balance of
N39.45 bi lion was distributed
to the oilproducing states as
13 per cent derivation fund.
From the value added tax
(VAT) pool a count, the federal
government received N9.21
bi lion, while the state and
local governments received
N30.69 bi lion and N21.48
bi lion, respectively.
“Overa l, the total a location
to the thr e tiers of government
from the federation a count and
VAT pool a count in the review
month amounted to N489.85
bi lion, compared with N568.79
bi lion in the preceding month,”
it added.
During the month of February
2015, the predominant
agricultural activity acro s
the country was preparation
of land for early planting.
Other activities in the southern
and northern states included:
harvesting of tree crops;
i rigation-fed vegetable and
BUSINESSWORLD
Continued on page 28
R A T E S A S A T M A Y 1 7 , 2 0 1 5
NIBOR NITTY EXCHANGE RATE
OVERNIGHT 9.4583 3-MONTH 13.9314 1-MONTH 10.6657 6-MONTH 12.96 1 N197.00 US DOLLAR*
1-MONTH 12.8783 6-MONTH 15.1624 2-MONTH 12.5874 9-MONTH 13.3938 *AS AT LAST FRIDAY
3-MONTH 12.641 12-MONTH 13.3089
“The business of
banking has been
modernised in Nigeria
and is not too far from
what obtains in the
more advanced world”
MD, Wema Bank,
Segun Oloketuyi
ECONOMY
PENSION
T H I S D AY • MONDAY, MAY 18, 2015
The Association of Nigeria Licenced
last week that the nation was losing
of the traffic gridlock along Oshodi-
15
T H I S DAY • MONDAY, MAY 18, 2 015
EDITORIAL
STILL ON THE APAPA TRAFFIC GRIDLOCK
T
he Association of Nigeria Licenced
Customs Agents (ANLCA) said
last week that the nation was losing
about N5 billion daily on account
of the traffic gridlock along Oshodi-
Apapa Expressway, Wharf Road,
Marine Bridge, Ijora and Orile-
Iganmu. Ca ling on the relevant
authorities to act over the nuisance being constituted
by trucks and tankers in the town which hosts the
nation’s major sea ports, ANLCA warned that it
might soon down tools if nothing is done to redress
the ugly situation. We align ourselves with the ca l.
On a normal working day, it takes an average of
five hours to meander through the maze of tankers
and trailers that have turned most of the roads in
Apapa into parking lots. Besides, the horror o fered
by the craters and potholes is worse during raining
season when navigating the traffic- prone zones by
motorists becomes very difficult. What this implies
is that the Apapa-Oshodi Express-road through the
Tin Can Ports is most often literally shut down. The
same is true for the Seven Up/Apapa Bridge, which
is another parking lot for in-coming trailers and
tankers.
Hoodlums have also taken advantage of this
state of confusion
to unleash mayhem
on road users who
severa ly have had to
abandon their cars to
run for safety. Many
have lost their lives
and property worth
millions to these men
of the underworld.
Yet, as the days
unfold, the Apapa
Business District gets
worse for what it
o fers both residents and businesses. It is even more
saddening to note that some of these problems are
within human control.
Virtua ly every company located in Apapa is
now being short-changed by the excesses and sharp
practices of these tanker and trailer drivers as we l as
their owners. It is either that one tanker is struggling
to avoid the queue and therefore drives from one
end of the road down to the gate to beat those on the
queue, or that another trailer has successfu ly beaten
the others and is being given an executive clearance
to load or offload. Of course at the other end are the
owners of the tank farms and depots who do not
a low these trucks into their parking lots. A l these
help to create an atmosphere of chaos which makes
life very difficult for Apapa residents and visitors.
T
he Lagos State Government is at the vanguard
of insti ling discipline but these truck
drivers are ever unwilling to comply with
laid down rules on the use of the highway.
On several occasions, these tanker drivers had gone
on strike and with that create scarcity of petroleum
products thus bringing enormous su fering on the
populace.
In more civilised climes, what is happening in
Apapa is anathema. This armada of trailers and
petroleum tankers wi l be considered primitive.
Years of toeing the path of impropriety and poor
infrastructure development and maintenance in the
energy and other sectors are having their crushing
to l on other forms of business. It is sad, if not tragic
that Apapa, which ordinarily should be the heartbeat
for corporate Nigeria, is a neglected business district
whose infrastructure especia ly roads are not only
decayed but ignored by the relevant authorities.
Until the federal government finds it appropriate
to build refineries close to the points of consumption,
revive our rail systems and create a more orderly
and cost e fective means of lifting bulk cargo and
petroleum products, Apapa will continue to be a
nightmare for the residents and businesses operating
within the town. But a measure of sanity can still be
restored today. We therefore call on the Lagos State
government not to relent in fighting this blackmail
by tanker drivers as well as owners of petroleum
and gas tank farms, who have scant regard for other
businesses in Apapa.
IT IS SAD THAT APAPA,
WHICH ORDINARILY
SHOULD BE THE
HEARTBEAT FOR
CORPORATE NIGERIA, IS
A NEGLECTED BUSINESS
DISTRICT WHOSE
INFRASTRUCTURE,
ESPECIALLY ROADS,
ARE NOT ONLY DECAYED
BUT IGNORED BY THE
RELEVANT AUTHORITIES
There are perils for the economy in leaving Apapa the way it is. Something must be done
TO OUR READERS
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Letters to the Editor
REFORMING THE UNREFORMABLE: THE UNFINISHED BUSINESS
F
ew years ago, Dr Ngozi Okonjo-Iweala wrote a book
by thi same title. I had the good fortune of reading
this book few days ago. What resulted from my
reading this book was a light-bulb moment which
I wi l now attempt to document with the hope that
people like me, who want nothing more than to see
this nation set on the right path, wi l get some clarity on certain
ma ters currently fi ling our consciousne s as a result of the
news hi ting our airwaves and digital space.
Contrary to what we have been told and the a cusations that
have been hurled a the finance minister in the last year or so,
I have found that from as far back as 2003, Dr Okonjo-Iweala
has been ca ling fo reforms of parastatals, Ministries, Departments
and Agencies (MDAs) and other government-owned
entities. One of the things she quickly observed when she
became finance minister under the Olusegun Obasanjo
administration was that entities like Customs, Nigerian
National Petroleum Corporation (NNPC) and a few others were
structured by the military to be opaque and to enable deliberate
siphoning of funds. And these nefarious activities had gone
on for so long that she knew fighting that level of co ruption
would be an uphi l task; but she did not relent nor ha she
given up even ti l now.
It is amazing – and even offensive – that i took a major
scandal such as the allegedly mi sing $20 bi lion from the
coffers of NNPC as we l as the PricewaterCoopers (PwC) audit
repor to open the eyes of many to the same issue that Madam
Iweala has been singing about for years. Of course, NN

8
NEWS
MONDAY MAY 18, 2015 • THISDAY
News Editor Davidson Iriekpen
Email davidson.iriekpen@thisdaylive.com
PDP Rules out Change of Name
Says its ideology, national outlook intact Labour Party denies merger talks with party
Chuks Okocha and Onyebuchi
Ezigbo Ezigbo in Abuja
The Peoples Democratic Party
(PDP) has stated that despite
losing control of the federal
government and some of
its states in the last general
election, it is still the truly
national political party with
strength and spread enough
to regain pre-eminence.
The party therefore stated
that it was not contemplating
a change of identity, noting
that the unassailable vision of
its founding fathers remains
timeless in building a Nigeria
of the collective wish and
aspirations of all citizens.
A statement by the
National Publicity Secretary
of the PDP, Olisa Metuh,
yesterday, said having been
the guardian of Nigerian
democracy for 16 years
during which it nurtured
and blossomed democratic
governance as well as etched
its name in the pantheon of
good governance, the PDP
will not in the circumstance
of ephemeral loss of power
change its identity or its
time-honoured characteristic
values.
The party said though it
is resolutely committed to its
present structures, it would
not close its doors to other
political parties wishing to be
assimilated into its fold as the
best vehicle for the fulfilment
of political aspirations of all
Nigerians regardless of tribe
and religion.
“We have a name, tradition
and values. 16 fruitful years
as the guardian of Nigerian
democracy cannot be nullified
by the reason of temporary
setback. We shall rise beyond
all and regain our rhythm.
Our colour remains green,
white and red and power
still belongs to the people.
And to assert that we are
proud of the successes of our
successive leaders in taking
Nigeria to its present height is
an understatement, which the
passage of the next four years
under the All Progressives
Congress (APC) will certainly
prove,” the party said.
It added that the fact
that the PDP is going into
opposition would not mitigate
its ability as the flagship of
democracy, maintaining that
it will soar higher in proving
credible alternative as a
constructive opposition, far
removed from the wrathful
destruction that the APC lived
thus far.
“We have no doubt lifted
the banner of democracy
very high and only wish
that the APC will move
beyond excuses when it
takes over in a few days
time to reconcile mouthful
promises with the reality of
fulfilment. We have not only
laid a solid foundation, we
have built to a height that
no denial can wish away.
“We therefore call
on all our members to
ensure that they are not
in any way distracted but
remain focused as the unity,
cohesion and regenerative
capacity of the PDP is very
much intact, election loss
notwithstanding.”
Meanwhile, the Labour
Party (LP) yesterday said
there was no move for an
alliance or merger with
the PDP or any other
party, describing any such
insinuation as the handiwork
of some mischievous people.
There were reports late
last week of an impending
merger of the PDP with the
LP, All Progressives Grand
Alliance (APGA), Hope Party,
and KOWA Party to form a
formidable mega opposition
party to challenge the APC.
It stated that PDP members
including Governors Sule
Lamido, Godswill Akpabio,
Babangida Aliyu and a few
others have been pushing
for an alliance with other
parties.
According to the report,
other PDP chieftains such
as former defence chief,
Theophilus Danjuma, and
former finance minister,
Adamu Ciroma, support the
move, and have planned for
a special convention after
the handover on May 29
where a formal merger
process would start.
The report also disclosed
that the merger option was
being considered because the
Buhari to Drop ‘General’ from
His Name from May 29
From May 29, the presidentelect,
Muhammadu Buhari,
will drop ‘General’ as his title,
while his deputy seeks to be
described with his academic
title of professor.
Briefing journalists in
Lagos yesterday, the head
of the Directorate of Media
and Publicity of Buhari’s
campaign organisation,
Garba Shehu, said Buhari
would simply be addressed as
Muhammadu Buhari, President
and Commander-in-Chief of the
Armed Forces of the Federal
Republic of Nigeria.
Shehu said Buhari would
not like to be addressed as
Mr, Alhaji or Mallam either
but simply as Muhammadu
Buhari.
“From May 29, 2015, the
president-elect and vicepresident-elect
are to be
respectively known and
addressed as Muhammadu
Buhari, President,
Commander-in-Chief of
the Armed Forces Federal
Republic of Nigeria and Prof.
Yemi Osinbajo, SAN, Vice
President, Federal Republic
of Nigeria.”
Buhari may have
followed the foot steps of
former President Olusegun
Obasanjo who upon his
assumption of office in 1999
as a democratically-elected
president, jettisioned the prefix
of ‘General’ for Chief.
word “PDP” had become
toxic and un-sellable to
Nigerians and as such, it
will be counterproductive
to continue to use it as a
viable opposition party.
However, while reacting
to the reports, LP said it
was highly irresponsible for
anyone to drag its esteemed
name into rumours of an
impending merger
In a statement issued by
the National Secretary of the
LP, Kayode Ajulo, the party
debunked the report as “false
and diversionary,” stating
that at no time whatsoever
had the leadership of the
party entered into merger
talks with any other party.
“The rumoured talks of
a merger between the LP
and other parties such as
the PDP is a figment of the
fevered imagination of some
mischievous peoples. Such
an issue has not been raised
within the party exco at all,
and neither has anyone or
any party has any agreement
on the issue with us.
“It is highly irresponsible
for anyone to drag the
esteemed name of the Labour
Party into rumours of an
impending merger. If at all
anyone has entered into any
such talks, he is doing it
strictly on his own, not in
the name of the LP,” the
National Secretary said.
Ajulo affirmed that
political power or relevance
for its own sake is not the
goal of the LP, adding that
the party was committed
only to the cause of the
Nigerian workers and the
masses in general.
“Our goal is not just to
seek power or relevance; we
are committed to alleviating
the sufferings of all Nigerians.
We are therefore prepared to
work with anyone who will
put the Nigerian people first,
and seek to bring succour
to the homes of Nigerians
everywhere across the nation.
“We will cooperate with
any government, group and
individual that shows with
its policies and actions that
it truly seeks to bring relief
to Nigerians, that is also our
desire, so it is only reasonable
to cooperate with such groups,
if any,” Ajulo said.
He described such a
proposition as impossible,
“that cannot be. LP is
a discipline party, It is
impossible for anybody to
consider as serious, any talks
which exclude the National
Secretary of the party as well
as the National Working
Committee (NWC) of the
party, so I can assure you
that there were no such talks.”
Ajulo, who said he just
returned into the country
after a trip to Britain as an
Accredited International
Observer to monitor the just
concluded general elections
of May 7 in the United
Kingdom, also stated that
he had remained in close
communications with the
party’s national chairman and
other national hierarchy all
through his trip, and that no
mention had been made of
any merger talks with anyone.
“Maybe the advocates
of such merger are just
expressing their wishful
thinking. It is my opinion
that this allegation is a mere
rumour and nothing but a
figment of their imagination,”
he said.
MOURNING A BELOVED UNCLE
L-R: Delta State Governor, Dr. Emmanuel Uduaghan; his wife; Roli; and Manager, Nigerian National Petroleum Corporation (NNPC), Warri,
Mr. Omaghomi Victor, at the burial of Pa. Samuel Uduaghan, at Abigborodo Warri North Local Government Area... weekend
Seplat Reels out Benefits of Tax Incentive
to Nigerian Economy
Chika Amanze-Nwachuku
Seplat Petroleum Development
Company has said the pioneer
tax incentive granted it made
it possible for the company to
boost oil and gas production,
provide employment
opportunities and help grow
the Nigerian economy.
Responding to a recent
allegation that it had benefitted
from improper tax waivers in
relation to its grant of pioneer
tax incentive by the federal
government, Chief Executive
Officer of the company, Austin
Avuru, said in a statement
that in 2013, the company
applied for pioneer status
incentive through the Nigerian
Investment Promotion Council
(NIPC) as the government body
responsible for investment
promotion.
Avuru said the company
followed the prescribed
process for application and
provided all the information
and documentation required
in support of the application.
The incentive, he noted
was part of an industry wide
exercise and Seplat was one out
of 15 oil and gas companies
that were granted the pioneer
tax incentive.
According to Avuru, Seplat
had fully re-invested the tax
savings from the grant and
has delivered verifiable results
thereto.
He said: “Seplat believes that
it is an excellent example of the
whole purpose of establishing
the pioneer incentive scheme.
The Company has fully reinvested
the tax savings from
the grant and has delivered
verifiable results thereto.
“Seplat is now a key supplier
of gas to the domestic market,
which is the direct outcome of
the pioneer incentive granted to
SEPLAT and aims to continue
to contribute meaningfully to
the growth and development
of the Nigerian economy.”
Reeling out benefits
from the tax holiday to the
Nigerian economy, Avuru
said: “The grant of pioneer
status has made it possible
for Seplat to boost oil and
gas production, provide
employment opportunities,
impact on their communities
and help grow the Nigerian
economy.”
He added: “Gas production
rose from an average of
90mmscfd to a current level
of around 200 MMscfd with
a target of 300 MMscfd by
the end of 2015. This increase
has been driven by an over
US$300 million investment in
gas development over the tax
holiday period.
Oil production has grown
from a daily average of 14,000
barrels in 2010 to the current
daily rate of over 70,000 barrels.
The statement also added that its
royalty payments have gone up
from an average of $40 million
per annum in 2010 to US$147
million in 2014.”
Furthermore he said the
company had continued to fund
the NPDC/SEPLAT JV to drive
these outstanding growths in
oil and gas production despite
being owed substantial sums in
unpaid cash-calls from Nigerian
Petroleum Development
Company. (NPDC).
The statement added that the
tax incentive has also helped
Seplat in creating over 300 new
jobs and delivering several
community development
projects in their operating
areas, adding “the multiplier
effect of our over US$700 million
in annual expenditure through
Nigerian contractors adds over
1,000 additional jobs.”

MONDAY MAY 18, 2015 • THISDAY 9
NEWS
Power: Nigeria’s Bulk Trader Concludes
PPA Negotiations on 10 NIPP Gencos
Pioneering PPAs on coal, solar power generation ready soon
Chineme Okafor in Abuja
Nigeria’s bulk electricity
procuring entity, the Nigerian
Bulk Electricity Trading
Company Plc (NBET) at the
weekend disclosed that it had
concluded all negotiations
required for the successful
signing of Power Purchase
Agreements (PPAs) with the
10 thermal generation companies
of the National Integrated Power
Projects (NIPP).
Damilola Oyedele in Abuja
The Trade Union Congress
(TUC) has urged the
incoming administration of
Gen. Muhammadu Buhari to
drastically reduce the high cost
of governance in Nigeria.
It particularly harped on the
need to cut down on political
appointments, adding that
the current situation where
lawmakers fix their own
salaries and allowances must be
discouraged and discontinued.
The congress also frowned
at the way and manner public
office holders pay themselves
severance benefits running
into billions of naira without
addressing the legitimate
concerns of the workers on the
issue of pension and gratuity.
Rising from a meeting
of its National Executive
Council (NEC), the TUC in
a communique signed by its
President, Bobboi Kaigama
and, Secretary General, Musa
Lawal called for a review of
the salaries and allowances of
workers.
NBET by this development
has indicated its willingness
to enter into a bulk power
purchasing agreement with
the 10 electricity generation
companies which were built by
the Niger Delta Power Holding
Company Limited (NDPHC)
under the NIPP scheme, but
now slated for privatisation.
When consummated, the 10
NIPP plants will be able to sell
electricity generated by them
to NBET for onward resale to
APC Disowns Fake
Ministerial List in Circulation
Onyebuchi Ezigbo in Abuja
The All Progressives Congress
(APC) has described as a fiction,
the ministerial lists currently being
circulated, especially on the social
media.
The party warned against
statements attributing certain
actions to the president-elect,
General Muhammadu Buhari,
urging members of the public to
disregard these lists and wait for
the authentic list which would
be communicated through the
appropriate channels.
It appealed to the media to
clarify with the authentic officials
of the party and the Buhari
Campaign Organisation any issue
having to do with the actions
of the president-elect in order
to avoid presenting falsehood
as facts.
In a statement issued yesterday
by its National Publicity Secretary,
Alhaji Lai Mohammed, the
party said the appeal became
necessary following recent media
reports on the actions which the
president-elect would purportedly
embark upon once he is sworn
into office.
‘’Various people have been
quoted in the media on what
the president-elect will do or will
not do once he assumes office.
The truth is that these people do
not speak for the presidentelect,
hence the need for the
media to clarify such issues
with the Chairman of the
party, its National Publicity
Secretary or the spokesman
of the Buhari Campaign
Organisation. These officials
are always available to clarify
issues,’’ it said.
The APC said the ongoing
transition was a delicate
period that fifth columnists
could capitalise on to cause
disaffection or overheat the polity,
hence the need for all stakeholders
to be extra-cautious and to put
the national interest above all
other interests.
‘’Nigerians should disregard
these lists and await the authentic
list which will be communicated
through the appropriate channels
at the right time,’’ it said.
Reduce High Cost of
Governance, TUC Urges
Buhari
“It noted with serious
concern that the minimum wage
of N18, 000 which is less than
$90 has not been implemented
in some states. In particular, the
congress condemns all the state
governments owing workers
salaries, as it is unhealthy for
the nation,” it read.
“The congress-in-session calls
on the incoming government
to restore payment of gratuity
along with pension,” TUC
added.
It also lamented the sustained
fuel scarcity, which has brought
untold hardship to Nigerians,
with attendant negative impact
on all components of national
economy.
TUC appealed to the
government to immediately
call stakeholders meeting to
address the controversies with
the marketers with a view to
urgently resolving the demand
and supply deficit. “...while
concrete steps should be taken on
the issue of local refining to put a
stop to the issue of importation of
petroleum products and payment
of subsidy.”
electricity distribution companies
in the country.
The PPA will confer on
both parties service rights and
obligations that include timely
payments for and power signed
for.
Also, the bulk trader stated
at the last Annual General
Meeting (AGM) of its board
in Abuja, that it is about to
close out negotiations on the
multi-layered Zuma Energy coal
power project as well as four
solar power projects which it
will soon send to the industry
regulator, the Nigerian Electricity
Regulatory Commission (NERC)
for vetting and approval.
A power purchase agreement
represents the vital contract
for any independent power
generation project, especially
in emerging electricity markets
like Nigeria’s, to consider in
proceeding with such projects.
It governs the sale and
purchase of power between a
producer and an off-taker or
buyer and helps the promoter
draw down on investment funds
for its project.
The Managing Director of
NBET, Rumundaka Wonodi,
told journalists shortly after
the AGM which was chaired
by the board chairperson and
Minister of Finance, Dr. Ngozi
Okonjo-Iweala, that the company
had gone on with negotiations
on these PPAs, especially for
what they represent to the sector.
He said: “We are working on
so many PPAs, we are just about
to close out the PPA on Zuma
coal power and send it off to
the regulator for approval. We
have about four solar PPAs that
we have just gone through in
the last round and those ones
could be initial depending on
how they react to that version.
“We have a couple of gas-fired
plant; Century, Omar Power,
Proton Energy, Exxon and quite
a couple of projects that are close
to initialing and close out.
“The bulk trader has
also PPAs with River State
Independent Power Plant and
has concluded the discussions
for the NIPP PPAs,” Wonodi
added.
He further said: “Currently,
NBET has fully negotiated
PPAs for four other gas IPPs
and now has PPA templates
for coal and solar powered
generation projects. These
PPAs need to undergo
regulatory review prior to
their execution.”
On what this means to
the sector, Wonodi explained
that when fully executed and
the projects are on stream, it
helps the bulk trader procure
more capacity in the pool of
REDAN Wants FG to Redeem N24.5bn
Guarantee on Housing Fund
James Emejo in Abujai
President, Real Estate Developers
Association of Nigeria (REDAN),
Mr. Ugo Chime, has challenged
the federal government to redeem
its guarantee on the Series 3 Bond
which is expected to mature on
May 24, 2015 with obligation
to pay N24.564 billion to Note
holders.
He said the buck between
government and the Federal
Mortgage Bank of Nigeria
(FMBN) at this stage would
not augur well for the country.
Speaking with THISDAY in
Abuja, he said given that FGN
Guarantee for the Mortgage-
Backed Bond is irrevocable and
un-conditional failure to redeem
it would cause the Nigerian bond
market and FGN damage to their
reputation.
Former President Olusegun
Obasanjo had initiated the muchcelebrated
federal government’s
N100billion mortgage-backed
bond which aimed to ensure
success of the sale of federal
government’s non-essential
residential houses in the Federal
Capital Territory to public servants
under the monetization policy
of that administration.
The five-year bond was
initiated in 2007 to ensure success
of the sale of federal government’s
non-essential residential houses
in the Federal Capital Territory
(FCT) to public servants.
FMBN and its issuing house
sold the first tranche of N26 billion
in 2007.
Impressed with the outcome,
Messrs FMBN SPV Issuer Limited
in 2012 issued another N6billion
notes by way of private placement
to qualified institutional investors.
The Series 2 Fixed Rate Notes
issued under the N100billion
Residential Mortgage Backed
Securities Programme which
is sponsored by FMBN, is 100
percent guaranteed by the federal
government.
An application will be made
to list the Series 2 Notes on the
Nigerian Stock Exchange.
However, the Series 3 Bond
will be maturing on May 24
with obligation on the federal
government to pay a sum
N24.564billion to note holders.
It’s failure to so do at maturity
will lead to the call of federal
goverment guarantee that backed
the transaction, an action which
could spell doom for the country
in local and offshore financial
circles.
Already, Coordinating Minister
for the Economy and Minister of
Finance, Dr. Ngozi Okonjo-Iweala
has reportedly directed FMBN
to sell off its assets to redeem
the guarantee.
But Chime argued that the
government should get its acts
together by ensuring it stands
up to this challenge and also go
further to inject more funds into
the FMBN and even restructure
it if deemed fit.
electricity available to it to sell
to distribution companies it has
signed vesting contracts with.
Wonodi in his assessment of
the current market situation with
regards to commencement of the
Transitional Electricity Market
(TEM), said: “The transitional
electricity market has begun
and that means that we are
beginning to receive payments
from distribution companies
from power supplied and
we are making payments
to the generation companies.
Trading has fully begun.
“We believe compliance
should be full for the month
of March, the supplementary
order came late and by
the time it came, so many
distribution companies were not
clear on that and we understand
that three made payments to
the market operator and bulk
trader.”
THANKING GOD
Edo State Governor, Adams Oshiomhole; and his wife, Lara, carrying bread and wine for the Holy Communion at a thanksgiving Mass held
at the Immaculate Conception Cathedral, Auchi...yesterday
He said: “On this bond
issue, we need to look at some
aspects. Where is the money?
Was it injected into the NHF?
This money should have been
used as seed fund to assist the
Federal Mortgage Bank of Nigeria
(FMBN) to make houses more
affordable.
“I don’t think that at a time
when the government should
be thinking of beefing up the
capital base of FMBN it should
be asking the bank to sell off its
assets. It is gross dereliction of
duty to the masses. This entire
controversy is a distraction at
this moment.
He said: “The federal
government should pay the
money that is due in a few days
as this date has not come to them
as a surprise. There are no assets
for the FMBN to sell off to be
able to meet the deadline, even
if there were how many days
will it take to do so and meet
up with the deadline?”

10 MONDAY MAY 18, 2015 • THISDAY
NEWS
Azikiwe’s Widow Laments Breakdown of Security,
Says Kidnappers on Rampage in Enugu
Christopher Isiguzo in Enugu
The widow of the first president
of the country, Dr. Nnamdi
Azikiwe, Prof. Uche Azikiwe,
yesterday lamented the increasing
state of insecurity in Enugu
which culminated in high profile
kidnapping cases within the past
one week.
She therefore asked the relevant
security agencies to up their game.
Only recently, kidnappers and
armed robbers who had laid siege
at various parts of Enugu State
abducted the father of the awardwinning
author, Chimamanda
Adichie, the immediate former
Head of Service of Enugu State,
Nze Dennis Eze, a legal practioner,
Mr. Charles Ugwu, among others.
Beside these victims whose cases
Aiteo Clarifies Status of
its Contract with NNPC
Ejiofor Alike
Indigenous oil and gas company,
Aiteo has clarified the status of
its business with the Nigerian
National Petroleum Corporation
(NNPC), and denied the
allegation that it was fronting
for top officials of the present
administration.
In a statement by its
Communications Consultant,
Ebelo Goodluck, the company
stated that it only started
participating in the offshore
processing agreement (OPA)
with the NNPC three months
ago.
“This was after the company
was selected based on its
capacity and ability to perform.
The terms of this contract
are clear, and Aiteo has not
breached any obligation in the
OPA. Indeed, just last Friday,
Aiteo had a reconciliation
meeting with the NNPC,
and the it was acknowledged
that Aiteo is up to date in its
contractual performance,” said
the statement.
Aiteo further stated that OPA
is a more cost-effective option
to the previous regime of crude
swaps that the country relied on
for petroleum product suppliers.
According to the statement,
Aiteo is a legitimate business,
that has recently grown its
workforce from 400 to 2000 to
enable it effectively manage Oil
Mining Lease (OML) 29, adding
that it expects to substantially
recruit above this number very
soon.
To finance our asset acquisition
and operations, the company
said it had raised facilities from
a consortium of banks, including
Citibank, First Bank, Zenith and
Union Bank.
“These creditors have duly
subjected Aiteo to corporate
governance and due diligence
tests. Detail Commercial Solicitors
of England conducted the due
diligence on Aiteo, while the
legal agreements were prepared
by the prestigious firm of Aluko
and Oyebode. The allegations of
fronting for anyone are baseless,”
the statement added.
According to the statement,
any fair-minded reader will note
that the Energy Compass report
which was reproduced in the
media is slanted to taint Aiteo
with odium in a moment of
transition.
“Aiteo will be taking necessary
legal action to contest this
unnecessary campaign of
calumny against a legitimate
business,” the company said.
are still fresh, recently, a foreign-based
business mogul and philanthropist,
Mr. Okonkwo Onu, who hails from
Ogbodu village in Igbo-Eze North
Local Governent Area of the state,
as well as the manager of a guest
house at Aji community also in
the same council area had been
kidnapped by hoodlums who
sought ransoms.
Azikiwe, who spoke at the
weekend on the state of insecurity
in the country, expressed concerns
that the father of the renowned
literary writer , Prof. Adichie,
who is a renowned professor of
statistics would be so harassed and
abducted in his country where
he is supposed to enjoy his life
in retirement, calling for a total
moral rearmament in Nigeria.
Also from Igbo-Eze North local
government area of the state came
another sad news that armed
robbers hacked a widow to death
before carting away proceeds from
the sale of parcel of land meant
for the funeral ceremony of her
late husband.
An associate of Prof. Adichie
who also resides at Nsukka but
who did not want his name
mentioned, yesterday said: “We
heard the hoodlums went for
him because of his daughter but
I don’t know how much they
would have paid as ransom.”
In the case of the former
Head of Service in the state,
Nze Eze, we gathered that he
was kidnapped along the now
very vulnerable new Opi Nsukka-
Ugwuogo Nike- Enugu Road
constructed by the administration
of Governor Sullivan Chime.
He regained his freedom a few
days ago and had to go down
to his Ugbaike Community
to reunite with his father and
other family members who had
been apprehensive all through
his period in captivity in the
past week.
One of the victims and a
legal practitioner who hails from
Olido Community, Mr. Ugwu,
aforementioned, spoke to THISDAY
in a telephone chat yesterday and
confirmed that he was abducted
penultimate Saturday and regained
his freedom last Friday.
According to him, “As I made to
drive into my residence on Ibagwa
Road, Nsukka that Saturday, some
gunmen accosted me and took me
away. I only returned on Friday
and I am somewhere now where
I am having some rest.
“I thank God there was no
bodily harm done to me, only
the psychological but it was a
harrowing experience and very
sad commentary on the journey
of this nation so far,” he lamented,
but did not disclose how much
ransom was paid for his release.
However, in the case of the
kidnappers who held the manager
of a guest house, they were not as
lucky since their victim escaped
from the booth of their car and
some of them, including their
herbalist have been arrested by
operatives of the Special Anti-
Robbery Squad(SARS) of the
Enugu State Police Command.
Police Public Relations Officer
for Enugu State Police Command
of the Nigerian Police Force, Mr.
Ebere Amaraizu, confirmed some
of the kidnap cases and said the
command was doing much at
the moment to contain the tide
but would not divulge details
of the on-going operations in
response to the development.
UNIVERSITY EDUCATION MADE EASY
L-R: Executive Secretary, Tertiary Education Trust Fund (TetFund), Prof. Suleiman Bogoro; Justice Yelim Suleiman of the Bauchi State
Judiciary; former Head of State, Gen. Yakubu Gowon (rtd); and Vice-Chancellor, National Open University of Nigeria (NOUN), Prof. Vincent
Tenebe, at the inauguration of NOUN in Bogoro Local Government Area of Bauchi State...weeekend
NAN
Group Rejects Abortion Option
for Pregnant Chibok Girls
The Foundation for African
Heritage (FACH), a coalition of
non-governmental organisations
(NGOs) based in Lagos has
described as unconscionable,
inhuman and scandalous
the suggestion by the United
Nations Population Funds
(UNFPA) and some foreign
NGOs that the rescued pregnant
Chibok girls should be sent to
the abortion clinics to have their
babies aborted or that abortion
be legalised in Nigeria, so that
the pregnant Chibok girls can
abort their babies.
Making a cash donation
on behalf of the group for the
rehabilitation of the girls at the
office of the National Emergency
Management Agency (NEMA)
in Abuja recently, Mr. Sonnie
Ekwowusi stated that what the
girls urgently needed at this
moment was real healthcare,
social welfare and counselling
services that would enable them
to be effectively reintegrated and
re-absorbed in the society, so
that they would continue living
their lives as normal citizens
of Nigeria.
Ekwowusi said having
experienced unspeakable trauma,
dehumanisation and violence in
the hands of their Boko Haram
captors, it is unreasonable and
illogical to subject the girls to a
traumatic, violent-wrecking and
life-threatening abortion process.
Ekwowusi stated that the
FACH members were offering
free maternity homes and
rehabilitation homes where
the girls could willingly go to
safely give birth to their babies
and afterwards could give them
out for legal adoption if, for any
reasons, they do not want to
keep them.
While receiving the cash
donation on behalf of NEMA,
Mr. Bitrus Samuel, thanked
FACH for its generosity
and public-spiritedness. He
hoped that other NGOs and
organisations in Nigeria would
emulate FACH’s example in
rehabilitating the Chibok girls
and the internally-displaced
persons presently housed in
a Camp in Abuja.
Illegal Oil Bunkering: Navy
Arrests 30 Ships, Says FOC
Bassey Inyang in Calabar
The Flag Officer Commanding
(FOC) of the Eastern Naval
Command, Rear Admiral Henry
Babalola, has disclosed that the
Command has arrested over
thirty vessels and destroyed some
equipment and facilities used for
illegal bunkering and refining
of stolen crude oil.
Babalola made the disclosure
at the weekend during a
dinner staged to mark the
end of a three-day Annual Sea
Inspection of combat facilities
in the commands’ area.
In an interview session with
journalists in Calabar, the FOC
said: “In the last six months, we
have arrested well over thirty
Ships, tug boats and barges and
almost on a daily basis, my
operation men in Port Harcourt,
Ikot Abasi, Calabar, Bonny and
Ibaka go on aggressive patrols
and we have destroyed numerous
illegal refineries, we have seized
equipments and destroyed several
of their formations and it is a
continuous exercise.
Babalola said though the task
given to the navy on maritime
environment is very daunting,
but the officers and ratings are
equal to the task.
“To police four thousand
square nautical miles is not an
easy task. We have been doing
this with other commands of
the navy.
“We have carried out very
numerous arrests and by the
record from the oil industry,
there is tremendous reduction
in the crude oil theft,” he said.
Despite these successes,
the FOC said there were still
challenges in tackling other forms
of criminal activities.
He said: “The major security
challenge facing us on the sea
now is the problem of kidnapping
and hostage taking and I’m
happy to inform you that
the Chief of Naval Staff has
allocated some new patrol boats
to combat these head-on. We
are also expecting other patrol
boats being constructed in Port
Harcourt and when we have
those boats on our waters, there
will be a very very significant
reduction of piracy.”

THISDAY MONDAY MAY 18, 2015 11

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ADVERTORIAL

THISDAY MONDAY MAY 18, 2015 13

14 MONDAY MAY 18, 2015 THISDAY

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16 MONDAY MAY 18, 2015 THISDAY
CFO succession planning is still a major gap, and many
audit committees want to dive deeper into finance issues.
• What our 2015 KPMG Audit Committee Survey Tells Us
Except for during a crisis, the issues on
the audit committee’s radar don’t change
dramatically from year to year (and they
probably shouldn’t); but sometimes small
shifts tell a big story.
In our 2015 Global Audit Committee Survey,
it comes as little surprise to see four key
concerns carried from last year: economic and
political uncertainty and volatility, regulation
and impact of public policy initiatives,
operational risk, and cybersecurity. Clearly,
a slowing global economy, the flare-up of
geopolitical hotspots, and the proliferation
of major cyber breaches have intensified the
spotlight on these issues. But for many audit
committees today, these headline risks are
also driving a slower moving – yet critically
important – trend potentially impacting the
audit committee’s effectiveness: agenda
overload.
Our survey sought the views of audit
committee members on:
• Top Challenges and Concerns
• Risk and information Quality
• Audit Committee Agenda and Workload
• Oversight of Auditors
• Audit Committee Effectiveness
Audit committees, by and large, continue
to express confidence in their oversight
of the company’s financial reporting and
audit quality. But the accelerating speed and
complexity of business and risks are stretching
and straining many audit committee agendas,
which often include other major areas of risk
– compliance, IT, cyber risk, and others. Of
the 1,500 audit committee members who
responded to our global survey, three out of
four said the time required to carry out their
responsibilities has increased significantly
(24 percent or moderately 51 percent). Half
said the job continues to grow more difficult
given the committee’s time and expertise.
In a positive development, more boards are
reallocating risk oversight responsibilities
among their committees and the full boardwhich
bodes well for audit committees. A
lighter “risk agenda” can translate into more
time for quality discussions and a deeper
understanding of the business – two factors
that survey respondents said would most
improve their audit committee’s effectiveness.
Survey respondents also cite ongoing
opportunities for improvement in a number
of critical areas – from CFO succession
planning and getting more insight from
external auditors (e.g., on the strengths and
weaknesses of the finance organization), to
improving the quality of risk information
and better leveraging internal audit as a vital
resource for the audit committee.
Of course, it is difficult to compare data
from 35 countries – often with markedly
different business environments, regulatory
requirements, and corporate governance
practices. But our 2015 survey findings offer
insights that audit committees (as well as
management teams, auditors, and others)
can use to sharpen the committee’s focus,
benchmark its responsibilities and practices,
and strengthen its oversight going forward.
A snapshot of responses
CFO succession planning is still a major
gap, and many audit committees want to
dive deeper into finance issues.
Assessment of CFO performance and
interactions with the audit committee are
generally viewed as effective; yet more than
40 percent of audit committee members say
the committee is “not effective’ in the CFO
succession planning (clearly a pressing issue
given the rate of CFO turnover). Many audit
committees would like to hear about various
aspects of the finance organization’s work –
financial risk management, capital allocation,
tax, debt – in greater depth.
Views on audit reforms are mixed;
and while confidence in audit quality
continues to be strong, there’s still room
for auditors to offer more insight.
Across the globe, audit committee views on
whether the EU’s audit reforms (including
mandatory rotation) will improve audit
quality widely. The greatest areas for external
auditors to improve their performance: offering
insights and benchmarking on industryspecific
issues; helping the audit committee
stay up to speed; and sharing views on the
quality of the financial management team.
On internal audit, audit committees are still
looking for greater value.
Q1. Which of the following risks (aside
from financial reporting risk) pose the
greatest challenges for your company?
33%
30%
27%
26%
47%
21%
20% 4%
16% 7%
7%
9%
52%
Other
Task risk
Uncertainty and volatility, regulation
and compliance, and operational risk
top the list of the challenges facing
companies today.
Many audit committees around the world
point to economic and political uncertainty
and volatility, regulation and compliance,
and operational risk, and controls as posing
the greatest challenges for their companies.
Audit committees want to spend more
time on risk oversight – particularly
cybersecurity and the pace of technology
change.
Audit committees want to devote more – or
significantly more – agenda time to overseeing
the company’s risk management processes
and operational risk and controls, as well as
cyber security and the pace of technology
change.
The quality of information about
cybersecurity and technology risk,
talent, innovation, and business model
disruption is falling short.
Audit committee members rate much of
the information they receive as generally
good, yet many continue to express concern
about the information they receive (at the
committee or full board level) related to
cyber risk and technology change, talent
management, growth and innovation, and
possible disruption to the business model.
(The CIO ranks lowest in terms of quality
interaction and communication with the
audit committee.) Exposure to (and readiness
for) critical infrastructure failures- financial
systems, telecommunication networks,
transportation, energy/power-may also
require more attention.
More boards are reallocating risk
oversight duties as the audit committee’s
workload becomes more difficult.
Three quarter of audit members surveyed
the time required to carry out their duties
Q2. Are you
satisfied that your
audit committee
has the time
and expertise
to oversee the
major risks on its
agenda in addition
to carrying out
its core oversight
responsibilities?
Possible disruption to the business model
Growth and innovation (or lack of innovation)
Talent Management and development
Operational risk/ control environment
Legal/ regulatory compliance
Government regulation/ impact of public policy initiatives
Uncertainty and volatility (economic, regulatory, political)
8 %
No
40 %
Yes, but
increasingly
difficult
Supply chain risk
Global systemic risk (pandemic, social unrest, geopolitical instability)
52 %
Yes
Cybersecurity - including data privacy and protection of intellectual property
Pace of technology change (e.g., emerging technologies, mobile, social media)
has increased moderately (51 percent) or
significantly (24 percent); and half said that,
given the audit committee’s agenda time and
expertise, their role is becoming “increasingly
difficult”. More than one-third of boards have
recently reallocated risk oversight duties
among the full board and its committees (up
from 25 percent last year) or may consider
doing so in the near future.
So what are the key takeaways
for organisations and
Audit Committees?
Audit Committee Agenda and Workload
• Reassess whether the committee has
the time and expertise to oversee other
major risks
• Be wary of “mission creep”, and
consistently question whether new
and ongoing issues belong on the audit
committee’s agenda. Does cyber risk
require more attention at the board level?
• Take a hard look at the board’s
risk oversight approach. Does the
allocation of risk oversight activities
make sense in light of how the risk and
regulatory environment has changed
recently? Is there a need for another
committee, additional expertise, or
better communication and coordination
on risk oversight among committees?
Oversight of Auditors
• Stay apprised of various audit reform
initiatives and take lead on ensuring
audit quality
• Set tone and clear expectations for the
external auditor, and actively monitor
auditor performance through frequent,
quality communications (formal and
informal) and a robust evaluation of the
external auditor’s performance.
• Internal audit should be a crucial voice on
risk and control matters – from financial
reporting and compliance issues to key
operational and technology risks facing
the business. Does internal audit have
the stature – and a direct line to the audit
committee – to ensure that its voice is
heard and valued?
• Leverage internal audit as a barometer of
the company’s financial and operational
health – helping the audit committee
understand the quality of financial and
operational
KPMG CFO Forum Series
For more information on this article,
please contact:
Tola Adeyemi
tola.adeyemi@ng.kpmg.com
Segun Sowande
segun.sowande@ng.kpmg.com
© 2015 KPMG Professional Services, a partnership registered in Nigeria, and a member of the KPMG network of independent member firms affliated with KPMG International Cooperative (“KPMG International”), a swiss entity. All rights reserved.
KPMG CFO Forum, tackling issues and
challenges CFOs face
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THISDAY MONDAY MAY 18, 2015 17

14 THISDAY • MONDAY, MAY 18, 2015
COMMENT
Editor, Editorial Page Peter IshAkA
Email peter.ishaka@thisdaylive.com
FIGHTING CORRUPTION AND PROTECTING OUR DIGNITY
Dele Olowu argues the fight against corruption should not be limited to protecting our material resources, but also about protecting our dignity from assaults
Muhammadu Buhari’s victory in the Presidential
election has provoked great excitement and
expectation about the prospects of a new Nigeria.
It is well known, as he himself declared in his
convention speech that Buhari does not have
a fist full of dollars and that even if he had, he
would not throw it at anyone. Buhari barely concealed his relative
indigence, and the last Presidential election, would perhaps be the
only instance during which penury has been used successfully as an
instrument of political mobilisation.
Obviously, governance in Nigeria is not a Holy Order populated
by saints and angels. But even though corruption is rampant, and
countless players have trashed the system flat and out, Nigerians
still value people of integrity. That is why in spite of all the
material odds against him, Buhari with his meagre resources, not
only prevailed against Goliaths in his own party, but also against
incumbency and the state-supported PDP. General Buhari’s triumph
reestablishes the fact that in spite of the grim reality of widespread
corruption in our country, Nigerians still place a huge premium on
integrity. Buhari’s signature quality is his honesty and integrity. This
character hangs on his chest like a war medal and most Nigerians
expect that he will use this asset in changing the face of governance
in our country. In view of the massive dysfunctions that have crept
into public governance in the last 16 years or so, the public expects
so much healing from General Buhari. Some Nigerians may well
believe that the General can walk on water. The greatest and most
fanciful expectations are in the area of the fight against corruption.
If General Buhari were to fail to deliver on this count, we should
not expect any dramatic successes from him, in other areas of our
national life.
But the public needs to be reminded that the fight against corruption
is not only about fighting the misuse of resources or about
forcing felons to return stolen goods. Nor should we suppose, as is
currently being done, that certain public institutions, even without
interrogation or scrutiny, can be adjudged guilty of corruption.
Most eyes for example, seem to dwell on the Ministry of Petroleum
and the NNPC, which have been so massively slandered, it seems
not one individual in any of the two entities, can be identified as
competent or honest. The oil industry in Nigeria may have been
tainted in the past by grave misdemeanors. But, this cannot by itself,
mean that everyone who works in this sector is either a felon or a
criminal-in-waiting.
Even if strong restoration work is required in the oil sector, we
must proceed with a proper understanding that eminently useful
work has been produced in the oil industry and that its technocrats
are amongst the most sophisticated and well- trained of Nigeria’s
workforce. Corruption involving massive embezzlement is a huge
ulcer on our body politic, and requires to be addressed. They occur
in all layers of our national experience and therefore require to be
dealt with decisively. But it helps neither the anti-corruption cause
GENERAL BUHARI’S TRIUMPH REESTABLISHES
THE FACT THAT IN SPITE OF THE GRIM REALITY
OF WIDESPREAD CORRUPTION IN OUR
COUNTRY, NIGERIANS STILL PLACE A HUGE
PREMIUM ON INTEGRITY. BUHARI’S SIGNATURE
QUALITY IS HIS HONESTY AND INTEGRITY. THIS
CHARACTER HANGS ON HIS CHEST LIKE A WAR
MEDAL AND MOST NIGERIANS EXPECT THAT HE
WILL USE THIS ASSET IN CHANGING THE FACE
OF GOVERNANCE IN OUR COUNTRY
nor the fight to raise governance levels, if certain quotas of our
workforce are singled out for habitual and mindless denigration.
Because the fight against corruption dwells unfairly on particular
sectors, we tend to ignore the philosophic origins of the structures
by which our leaders corruptly subjugate us.
The more enduring forms of corruption, which seem to continue
unchallenged, are the several gestures of arrogance with which our
leaders oppress us, and continually, remind us that we are beholden
to them. These gestures are part of the social and political rites with
which the ruling elite reinforce the unjust Nigerian order. These
include the protocols of extreme veneration with which we allude
to our leaders, namely; “Your Excellency,” “Head of State and
Commander –in - Chief”, “Distinguished Senator” and so on and
so forth. These protocols, applied often enough, delude our leaders
into believing they are deities. This phenomenon has sometimes
been referred to as the imperial syndrome in African governance.
The use of this language of extreme veneration is a communicative
assault on the dignity of those whom our leaders rule over. This
assault on our dignity is further expressed in the disrespectful
deployment of high police officers to stand
behind governors and their wives during public ceremonies;
it is also expressed when a Colonel is deployed to stand behind
our Head of State during state functions. Often the Colonel does
nothing more significant than carrying the President’s speech at
public events. Most of the time, the Colonel’s presence is awkward
and redundant. And yet such highly-trained manpower is used so
cheaply, merely to remind us of the mighty power of those who
run our lives. Assaults on our dignity such as these, form part of
the structure with which our rulers have sought to subjugate us.
This trend also corrupts the phenomenon of power and how it is
deployed in our society. We tend to ignore these corrupt assaults
on our collective dignity, because they involve no loss of material
resource. But we have cumulatively lost our social dignity because
of these aggressive assaults. Those who care about the defence of
our dignity will therefore be glad to learn about General Buhari’s
warming to members of his convoy that they must obey all traffic
regulations. The announcement specifically frowned on the common
practice by which convoys produce chaos and sometimes accidents
on our roads. This announcement marks a useful departure from
the old trend which places the comfort of our rulers above every
other consideration, including the safety of our citizens.
Buhari, may by this token be drawing the curtain on the era
of indulgence and selfishness in public governance. Our leaders
must cut down on the arrogance of power and respect the dignity
of the citizens, over whom, they rule. More importantly, we must
remind ourselves that the fight against corruption is not only about
protecting our material resources, nor about auditing a specific
entity. It is also about protecting our dignity from the predatory
assaults of our rulers.
Olowu, a public policy analyst, wrote from Abuja
THE BIG WHY
Despite the inability of the federal government to fully fulfill its statutory obligations, NNDC has acquitted itself creditably, argues Ifeatu Agbu.
It is common knowledge that the Niger
Delta Development Commission (NDDC)
was established by the Olusegun Obasanjo
administration in December 2000 to facilitate
the rapid development of the Niger Delta
region that produces over 90 per cent of the
country’s oil wealth. It is, however, unfortunate
that despite the spirited drive by successive boards
of the commission to perform, their efforts were
seriously constrained by several factors, including
inadequate funding.
The act establishing the NDDC states clearly
how the commission shall be funded. Section 14[2]
provides that “there shall be paid and credited
to the fund established pursuant to subsection
[1] of this section; [a] from the Federal Government
the equivalent of 15 per cent of the total
monthly allocation due to the member states of
the commission from the federation account, this
being the contribution of the Federal Government
to the commission; [b] three per cent of the total
annual budget of any oil-producing company
operating onshore and offshore in the Niger Delta
area, including gas processing companies; [c] 50
per cent of monies due to member states of the
commission from the ecological fund...” and other
sources such as grants and loans.
Apart from the federal government which
did not comply with the provisions of the act,
especially during the Obasanjo years, some of the
oil companies have also not been paying the three
per cent of their annual budget as required by law.
Records show that they deduct first charges before
calculating the three per cent from the balance.
It is more like cutting the nose to spite the face,
given that what they spend for the development
of the Niger Delta is for their own good at the
end of the day.
The federal government is reported to have
defaulted in meeting its obligation to the commission
to the tune of about N740 billion. In spite of
these constraints, it could be said that the NDDC
has acquitted itself creditably. The conspicuous
presence of its projects in all nook and crannies
of the region bears this out. Even with this,
previous boards were accused of leaving behind
many uncompleted projects. This was what made
President Goodluck Jonathan to specifically order
the current board during its inauguration to focus
on the completion of projects rather than starting
new ones. The new board, from all indications,
has kept faith with the presidential directive
despite the funding challenges that it has faced
since its inception on December 16, 2013.
Contrary to the spurious allegations by a body
called the Emergency Integrity Group that the
current board has received and squandered over
N300 billion, the facts available show that all that
the board has received so far is just about N56
billion. It has to a large extent, prudently deployed
this amount in completing some of the big ticket
projects initiated by the previous boards.
Information from the commission’s project
monitoring directorate shows that NDDC constructed
about 550 kilometres of roads; completed
over 50 water schemes in addition to providing
electricity to about 70 communities. Records from
the commission also show that in the last one
year, under the watch of the current board and
management, 247 projects were completed.
Among the projects inaugurated within this
period are four 522-bed space modern hostels
at the Federal University of Technology, Owerri
(FUTO) and the Imo State University, both in
Imo State, as well as the University of Benin and
the Delta State University, Abraka. In all, 19 of
such hostels are being built in universities and
polytechnics across the Niger Delta.
The contributions of the NDDC to the education
sector were not limited to infrastructure.
According to the commission’s Managing Director,
Mr. Bassey Dan-Abia, the interventionist agency
had in recent times provided “science equipment
to our secondary schools; retrained 500 science
teachers and 225 principals and vice-principals, for
capacity enhancement in schools management and
administration. It has also provided 3,600 sets of
computers to all the polytechnics in the region and
awarded 1,021 overseas scholarships for Master
degrees and PhD programmes in engineering and
sciences, including medicine to youths of the nine
NDDC states, in the best universities across the
world.”
Other training programmes were also designed
to take care of the youths who could not make
it to tertiary institutions. In this wise, the commission
introduced various youth development
schemes to arm the young ones with skills
that would get them gainfully employed. The
positive fall-outs of this strategy are now evident
as statistics made available by the commission
indicate that a total of 5,765 youths across the
Niger Delta Region have so far benefited from
the youth empowerment programmes. According
to the MD, “when we develop and empower
young people, we are bound to reduce crime and
violence in the region.”
In addition to its youth empowerment schemes,
the NDDC has made substantial contributions
to the shift from subsistence farming to modern
agricultural practices. The commission recently
distributed over 100 tractors to State Ministries of
Agriculture in the nine Niger Delta states to boost
food production. It also donated 27 tractors to the
Oil Producers Trade Section (OPTS) group, for
delivery to farmer cooperatives in their respective
host communities.
The appraisal of NDDC’s performance cannot
be complete without reference to its popular Free
Health Care Programme. This is one intervention
that brings tremendous relief and makes immediate
impact on the lives of the rural people. During
the nation-wide strike by medical doctors last year,
the current board deployed the free health care
mission to fill the void in several communities.
Furthermore, the NDDC managing director said
recently that the commission had undertaken the
construction of three specialist hospitals in Bayelsa
State (orthopaedic), Akwa Ibom State (cardiovascular)
and Rivers State (cardio-vascular) in
partnership with private sector service providers.
The NDDC has also inaugurated several roads
and bridges, including the Iselu-Okaigben-Idungboko
road and bridge, which is a bypass that
takes traffic from Asaba in Delta State to Auchi
in Edo State. The 25.7-kilometre road reduces the
journey from the Delta State capital to the Federal
Capital Territory, Abuja by over an hour.
There is nothing wrong with criticism so long
as they are based on verifiable facts and figures
and not sheer mischief or ignorance. Constructive
criticism can be helpful in spurring development
and that is the only way it can command respect.
If the Emergency Integrity Group had taken pains
to investigate what the current board has achieved
with the resources available to it, they wouldn’t
have embarked on a campaign of calumny.
Agbu wrote from Port Harcourt

THISDAY • MONDAY, MAY 18, 2 015
15
EDITORIAL
STILL ON THE APAPA TRAFFIC GRIDLOCK
There are perils for the economy in leaving Apapa the way it is. Something must be done
The Association of Nigeria Licenced
Customs Agents (ANLCA) said
last week that the nation was losing
about N5 billion daily on account
of the traffic gridlock along Oshodi-
Apapa Expressway, Wharf Road,
Marine Bridge, Ijora and Orile-
Iganmu. Calling on the relevant
authorities to act over the nuisance being constituted
by trucks and tankers in the town which hosts the
nation’s major sea ports, ANLCA warned that it
might soon down tools if nothing is done to redress
the ugly situation. We align ourselves with the call.
On a normal working day, it takes an average of
five hours to meander through the maze of tankers
and trailers that have turned most of the roads in
Apapa into parking lots. Besides, the horror offered
by the craters and potholes is worse during raining
season when navigating the traffic- prone zones by
motorists becomes very difficult. What this implies
is that the Apapa-Oshodi Express-road through the
Tin Can Ports is most often literally shut down. The
same is true for the Seven Up/Apapa Bridge, which
is another parking lot for in-coming trailers and
tankers.
Hoodlums have also taken advantage of this
IT IS SAD THAT APAPA,
WHICH ORDINARILY
SHOULD BE THE
HEARTBEAT FOR
CORPORATE NIGERIA, IS
A NEGLECTED BUSINESS
DISTRICT WHOSE
INFRASTRUCTURE,
ESPECIALLY ROADS,
ARE NOT ONLY DECAYED
BUT IGNORED BY THE
RELEVANT AUTHORITIES
state of confusion
to unleash mayhem
on road users who
severally have had to
abandon their cars to
run for safety. Many
have lost their lives
and property worth
millions to these men
of the underworld.
Yet, as the days
unfold, the Apapa
Business District gets
worse for what it
offers both residents and businesses. It is even more
saddening to note that some of these problems are
within human control.
Virtually every company located in Apapa is
THISDAY
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THISDAY NEWSPAPERS LIMITED
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ART DIRECTOR OCHI OGBUAKU II
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now being short-changed by the excesses and sharp
practices of these tanker and trailer drivers as well as
their owners. It is either that one tanker is struggling
to avoid the queue and therefore drives from one
end of the road down to the gate to beat those on the
queue, or that another trailer has successfully beaten
the others and is being given an executive clearance
to load or offload. Of course at the other end are the
owners of the tank farms and depots who do not
allow these trucks into their parking lots. All these
help to create an atmosphere of chaos which makes
life very difficult for Apapa residents and visitors.
The Lagos State Government is at the vanguard
of instilling discipline but these truck
drivers are ever unwilling to comply with
laid down rules on the use of the highway.
On several occasions, these tanker drivers had gone
on strike and with that create scarcity of petroleum
products thus bringing enormous suffering on the
populace.
In more civilised climes, what is happening in
Apapa is anathema. This armada of trailers and
petroleum tankers will be considered primitive.
Years of toeing the path of impropriety and poor
infrastructure development and maintenance in the
energy and other sectors are having their crushing
toll on other forms of business. It is sad, if not tragic
that Apapa, which ordinarily should be the heartbeat
for corporate Nigeria, is a neglected business district
whose infrastructure especially roads are not only
decayed but ignored by the relevant authorities.
Until the federal government finds it appropriate
to build refineries close to the points of consumption,
revive our rail systems and create a more orderly
and cost effective means of lifting bulk cargo and
petroleum products, Apapa will continue to be a
nightmare for the residents and businesses operating
within the town. But a measure of sanity can still be
restored today. We therefore call on the Lagos State
government not to relent in fighting this blackmail
by tanker drivers as well as owners of petroleum
and gas tank farms, who have scant regard for other
businesses in Apapa.
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REFORMING THE UNREFORMABLE: THE UNFINISHED BUSINESS
Few years ago, Dr Ngozi Okonjo-Iweala wrote a book
by this same title. I had the good fortune of reading
this book few days ago. What resulted from my
reading this book was a light-bulb moment which
I will now attempt to document with the hope that
people like me, who want nothing more than to see
this nation set on the right path, will get some clarity on certain
matters currently filling our consciousness as a result of the
news hitting our airwaves and digital space.
Contrary to what we have been told and the accusations that
have been hurled at the finance minister in the last year or so,
I have found that from as far back as 2003, Dr Okonjo-Iweala
has been calling for reforms of parastatals, Ministries, Departments
and Agencies (MDAs) and other government-owned
entities. One of the things she quickly observed when she
became finance minister under the Olusegun Obasanjo
administration was that entities like Customs, Nigerian
National Petroleum Corporation (NNPC) and a few others were
structured by the military to be opaque and to enable deliberate
siphoning of funds. And these nefarious activities had gone
on for so long that she knew fighting that level of corruption
would be an uphill task; but she did not relent nor has she
given up even till now.
It is amazing – and even offensive – that it took a major
scandal such as the allegedly missing $20 billion from the
coffers of NNPC as well as the PricewaterCoopers (PwC) audit
report to open the eyes of many to the same issue that Madam
Iweala has been singing about for years. Of course, NNPC is in
dire need of reforms, but let us not be so distracted by all the
hype and buzz this news is creating and lead ourselves in the
erroneous belief that it is NNPC alone that must be dealt the
firm hand of reformation. These same people who now clamour
for its reform should also speak on the reform of Customs,
since it is a huge money generator for government.
Ngozi Okonjo-Iweala herself mentions customs reforms
in her book, calling it an outright failure. Like many other
government-owned entities, when the reform was broached,
it was immediately met with a lot of resistance and opposition
because the powerful political elite controlling that and other
organisations fought hard to crush her efforts. The honourable
minister admits that the structural reforms carried out at that
time required time; and with the administration winding down
its activities, it left behind some unfinished businesses, while
some other reforms suffered major setbacks.
One major cause of setbacks, apart from lack of continuity,
was the ability of the political elite to influence decisionmaking,
to frustrate all efforts made and to block any hope of
achieving success. It is clear that these people, who did not
want their lucrative means of enrichment blocked, would stop
at nothing to ensure the reforms met with little or no success
at all. Powerful Northern interests would besiege the Presidency
to halt any reforms that would affect their pockets and bank
accounts. This happened during Obasanjo’s government and
happened under Goodluck Jonathan also.
In our bid to ensure transparency and accountability in the
management of our national resources through necessary
reforms, let us not stop with NNPC and Customs alone. There
is a call for a complete overhaul of every sector, every ministry,
and every parastatal. This is the time for a wholesome reformation
of the nation. Call Dr Okonjo-Iweala a prophet, and her
book a prophecy of sorts. She has foretold too accurately that
reformation is not only important; it is the foundation upon
which we must build a new Nigeria.
The president-elect would do well to know that if there
is any hope of fulfilling his promises to the Nigerian people,
then he must use Dr Okonjo-Iweala’s book as a roadmap.
But should we stop at parastatals, MDAs, ministries and other
government-controlled organisations? I do not think so. The
minds of the people too need a major overhaul; the scales in
our mental eyes need to fall off so that we can truly see the
issues pervading this nation as they really are.
Akinola Johnson, Garki, Abuja

20 THISDAY • MONDAY, MAY 18, 2015
POLITICS
Group Politics Editor Olawale Olaleye
Email wale.olaleye@thisdaylive.com
08116759819 SMS ONLY
THE MONDAY DISCOURSE
Plateau’s Peace of the Graveyard
Will Plateau State – a one-time serene and tourist destination –
ever know peace again, asks Seriki Adinoyi
A scene of an attack on a Jos town
Over the last decade, the political
crisis over ‘indigene’s rights’
and political representation
in Jos, the capital of Plateau
State, has evolved into a
protracted communal crises
that had spread into even the remotest of
the villages in the state, with at least 4,000
persons killed since late 2001, when the first
major riot broke out in the state.
Fourteen years on, only the heavy presence
of military and police forces has brought
about a fleeting and fragile peace in the state,
which is constantly punctuated with the many
killings in the villages. But evidently, a heavy
military presence is no durable solution.
The peaceful lifestyle of Jos gradually gave
way to suspicions and tensions between
ethnic groups, caused either by allocation of
resources, electoral tussles, contest over land
rights, or religious domination fracas, which
eventually amalgamated into an explosive
mix that has consumed hundreds of lives.
The presence of well-organised armed
groups in both the urban and rural areas
became the order of the day, with attendant
proliferation of weapons, and significant
rise in gun fatalities among the citizens.
Subsequently, long-standing tensions
within smaller towns and villages in the
state escalated into violence.
The killings only came to a halt tentatively
when the federal government declared a
state of emergency in 2004, after about 700
people were slaughtered in cold blood in
an attack on the town of Yelwa in southern
part of the state.
Clashes between Muslim and Christian
youths rocked the state again in 2008 after a
result local government election was violently
contested in Jos North Local Government
Council, leaving dead at least 700. The year
2010 was one of the worst on record, with
more than 1,000 lives lost. The sleeping village
of Dogo Nahawa was swooped upon by
suspected Fulani militia, leaving hundreds
of beheaded women and children in the
wake of it. This was shortly after a crisis
broke out at Dutse-Uku over an effort by
a man to rebuild his house that was razed
in an earlier crisis.
The list is endless, and human cost of the
violence is immense. The number of internally
displaced persons that have become homeless
since 2001 peaked in 2010, with over 50,000
persons in various camps across the state.
After the 2008 riot alone, more than 10,000
were displaced, while violence in 2010 resulted
in about 18,000 people fleeing the clashes.
Numerous houses and shops in Jos have
been burnt, with blackened remnants littering
the streets in many parts of the city.
All sides of the divide suffered massive
losses. The violence and displacements of
persons have re-shaped Jos and many rural
settlements, as neighbourhoods became
religiously segregated, with many ‘no-go-areas’
altering the patterns of residency, business,
transportation, and trade.
Students of the University of Jos, situated
in the neighbourhood of the Muslim community,
suffered more, as many off-campus
students became victims of the onslaught.
In spite of the huge losses, the people
have refused to steer clear of crisis; they
have refused to co-exist peacefully, even with
successive governments’ efforts, showing that
there are deep-seated hatred and animos-
Fourteen years on, only the
heavy presence of military
and police forces has
brought about a fleeting
and fragile peace in the
state, which is constantly
punctuated with the many
killings in the villages. But
evidently, a heavy military
presence is no durable
solution
ity which must be addressed if enduring
peace must return to the once serene and
peaceful Jos.
Geographically, Plateau State lies in the
middle Belt of Nigeria, between the predominantly
Muslim north and the mostly
Christian south. Historically, Jos was one
region that the Usman da Fodiyo Jihad could
not overrun, after it conquered and took
over Bauchi and subsequently established
an emirate therein.
The city of Jos, established around tin mining
activities during colonial times, attracted
migrants from all parts of Nigeria to work in
the mines and with the colonial administration.
The colonial legacy of indirect rule initially
relied on northern emirate structures. Later,
political power was transferred to the ‘native’
tribes of the Plateau.
Among these, the Berom were one of the
largest tribes and they most vocally defend
‘indigene’s rights’ today. But the Hausa
migrants from the north constituted by far
the most numerous group in the early Jos.
Today, the ownership of Jos and claims to
the ‘indigene’ status are fiercely contested
between the native tribes and the Hausa.
Indigene certificates ensure access to political
representation and positions within the civil
service and beyond.
Only local governments issue these cer-
CONT’D ON NEXT PAGE

THISDAY • MONDAY, MAY 18, 2015
POLITICS/ THE MONDAY DISCOURSE
21
PLATEAU’S PEACE OF THE GRAVEYARD
Residents fleeeing a Jos community in aftermath of incessant attacks
Much of the violence on
the state has resulted
largely from ignorance
and illiteracy. The fact
is that a substantial
population of Nigerians
are still illiterate, which
makes them easy vessels
of manipulation by
unpatriotic elites. This is
very much the case in Jos
tificates and therefore decide the indigene
status of anyone. This arrangement opened
the floodgates for the politics of labelling and
the selective reciting of historical accounts that
foster group boundaries to secure political
control over local government areas.
In a socio-political environment characterised
by strong patronage networks, exclusion
of one fraction of the political elite is widely
felt as socio-economic decline among its
constituency. The urban conflicts dynamics
interlink with tensions in rural areas. The
increasing scarcity of land and access to
riverbanks has resulted in contested claims
over land use between indigene farmers
and Fulani herders.
Religion reinforces the boundaries between
the mostly Christian indigenes and the
Muslim Hausa and Fulani in both urban
and rural conflicts.
In principle, these root causes of the
conflicts are well understood. Nigeria has
elaborated severally on the problem of
indigene rights at several fora and even at
the National Assembly. Yet there has been
a poor political will to address the problem.
The escalation of large-scale urban and rural
violence over the past decade contributed
to the protracted conflicts.
Compounding the tragedy of the Jos crisis,
violent clashes are no longer sparked only by
deliberate political instigation during election
times. In fact, Plateau State remained calm
during the April 2011 and 2015 national and
gubernatorial elections.
But small-scale reprisal and revenge killings
have continued to explode since 2010, even
in the villages. The situation is so tense that
residents fear that any minor incident could
set the town ablaze again. It gives credence
Jang...did his best
to the belief that their some external forces
on standby waiting to unleash terror at the
slightest provocation.
What is obtainable in Jos can therefore
not be described as peace yet. A long-term
solution to the Jos and wider Plateau State
crisis will need to tackle the indigene-settler
divide. However, given that the conflict over
indigene rights is endemic all over Nigeria,
Plateau State will hardly arrive at a durable
solution on its own.
Christian indigenes need only point to the
discrimination against fellow Christians in
northern, predominantly Muslim states to
justify exclusion of the Hausa-Fulani in Jos.
The latter, however, constitutes Nigeria’s most
populous ethnic nationality. Thus, Plateau
indigenes feel threatened with marginalisation
and are not willing to be the first to step
down from exclusive indigene privileges.
Religious leaders will have to take responsibility
for invalidating the perceptions of the
threat to religious identity that have become
entrenched in the daily lives of the people
in the state.
Top-level religious leaders have preached
peace and tolerance, but the message has
neither yielded nor reached those meant for.
While grassroots initiatives echo their tenor,
mid-level religious leaders feel the pressure
to protect their communities. People tend
to be suspicious of inter-religious dialogue,
making it difficult to rebuild trust among
communities.
Several dialogue and peace meetings have
been held to reconcile the various divides,
but most of them only ended up in empty
agreements and promises to sheathe swords;
they soon resume violence at the slightest
provocation.
The outgoing administration of Governor
Jonah Jang has particularly done much in this
regard. Special Adviser to the Governor on
Peace Building, Mr. Timothy Parlong, had on
several occasions collaborated with groups
to bring back peace in the state.
The Governor had also strengthened
Plateau Peace Conference, which was aimed
at bringing all the people together with a view
to addressing their grievances and charting a
common course. But it never really worked.
Jang also appointed Special Advisers from
the various tribes in the state, including the
Hausa-Fulani, thinking that their inclusion
in government could render useful ideas
towards finding a lasting solution. It also
failed.
He also established a state-sponsored
security outfit, the Operation Rainbow, a
neighbourhood watchdog to cub the incessant
killings – still to no avail.
The Senator Representing Plateau North
zone in the National Assembly, Gyang Pwajok,
also exerted a lot of energy trying to reconcile
the people. He has to his credit as a major
player in the much that has been achieved
in reconciling the Hausa community in Jos
with the indigenes. He had on several occasions
visited the Jos Central Mosque and
the Churches to dialogue with the religious
leaders.
At his instance, peace meetings have
severally been held among traditional
leaders. Football match competitions have
been organised at his instance on different
occasions, and empowerment. But in spite
of these laudable efforts, political watchers
have emphatically said both the state and
federal governments have no political will
to end the crisis.
They posited that if they really do, they
would not have been reluctant to implementing
the White Papers of the various
recommendations by the different commissions
of inquiries that indicted several ‘sacred
cows’. They added that as long as these
heavy recommendations of the commissions
of inquiry and the Presidential Advisory
Committee on the crisis, including various
white papers are forced under the carpet,
the resolution of the crisis would remain
a mirage.
Indeed, there have been several commissions
and strategies set up to study the causes of
violent identity conflicts in Jos and proffer
workable solutions. Unfortunately, until the
present moment, government’s responses
to the conflicts are widely “perceived as
ineffective”
At least, 16 public commissions have been
launched to examine the conflict and identify
solutions and many other studies have been
conducted by independent groups. There is
little political will to act on these findings.
Federal and State governments have
regularly worked at cross-purposes, sharply
disagreeing on the measures to mitigate
conflict in Jos, while the involvement of
civil society groups has more or less had
a polarising effect in most cases.
In the aftermath of the 1994 crisis, a sevenmember
judicial commission of enquiring
headed by Justice Aribiton Fiberesime
(Rtd) was constituted by the then military
administrator of the state, to look into the
causes as well as possible solutions to the
crisis. However, the report of that commission
CONT’D ON NEXT PAGE

22
THISDAY • MONDAY, MAY 18, 2015
POLITICS/ THE MONDAY DISCOURSE
PLATEAU’S PEACE OF THE GRAVEYARD
Rampaging youths take to the street at the break of a crisis
since 1994 is yet to be made public by the
government and no white paper has been
produced.
The commission made several recommendations
to the government, including
sanctioning all individuals, groups and
organisations indicted, but these were never
implemented. The government’s inaction led
to many communal clashes for the next five
years, culminating in the September 7, 2001
violence, which led to wanton loss of lives
and property.
On October 18, 2001, former governor
Joshua Dariye also inaugurated a 10-man
commission headed by Justice Niki Tobi to
look into the 2001 disturbances. In its findings,
the commission noted that the 1994 and the
2001 crises were very similar and that if
the 1994 Fiberesime recommendations had
been implemented, the 2001 crisis could have
been averted. Unfortunately, the Niki Tobi
commission suffered the same fate as the
Fiberesime commission.
In November 2008, there were disagreements
over whether it was the federal or
state government that had explicit powers
to set up probe panels. The major fallout
of this disagreement was the setting up of
different probe panels.
The federal government panel was led by
General Emmanuel Abisoye, while that of
the state was chaired by Justice Bola Ajibola,
both Houses of the National Assembly also
set-up their own panels. These needless
contestations and muscle-flexing tended
to exacerbate the conflict. In the end, no
white paper was produced for any of the
panels and none of the recommendations
have been implemented, thereby, creating
the basis for the continuation of the crisis.
This is the challenge before the new
government taking over powers, either at
the state of federal level to again look into
the various recommendations of the panels
without bias.
There was wild jubilation in the Muslim
community in the state following the announcement
of General Muhammadu Buhari
as the President-elect. The community, which
felt contained in the past few years now
feel that their liberty has come with the
election of Buhari, who they hope will bring
‘freedom’ to them.
This was evident in their utterances when
they celebrated Buhari’s victory. The indigenes,
on the other had are warming up for the
worst; they are watching and eager to see how
Buhari would take what rightfully belongs
to them and give it to settlers.
The incoming administrations of Buhari
and Barrister Simon Lalong therefore have
a big task in their hands to do more to
reconcile the people and not to divide them
further. Lalong has assured the people of his
administration’s determination to reconcile
the people by setting up Committee of elder
CONT’D ON NEXT PAGE
Jos North youths in a demonstration for peace
Police at the site of an attack

THISDAY • MONDAY, MAY 18, 2015
23
PERSPECTIVE
The Next Steps for the Niger Delta
Tonbofa Ashimi sets an agenda for the Niger Delta in the emerging
dispensation
Many Nigerians believe that
the cry from the Niger Delta
should be muted since the
Niger Delta was given the
chance to rule Nigeria. They are right to
the extent that the Niger Delta indigenes
should now be first partakers in investing
in developing the region. But they must
understand that the cry is even louder
now than before and must be dealt with
by Nigeria wholly.
The cry is from the little children
that innocently bathe in oil blackened
pools of water that surround their small
islands. Their parents fish from these
waters ignorant of the health hazards this
exposure brings to them. Environmental
pollution has risen with the activities of
illegal oil refineries in the creeks, added
to those of the operators of OMLs. The
urgency for justice in the Niger Delta has
increased.
The battle for justice started formally
with the Movement of the Survival of the
Ogoni People (MOSOP) and then came
the Kaima Declaration, which encouraged
non-violent fighting for environmental
rights of the Niger Delta, some measure
of control over the oil resources, as well
as general recognition as a vital minority
Nigerian tribe.
This was the cause for which the likes
of the late Ken Saro Wiwa and Oronto
Douglas fought. With the execution of
Saro Wiwa and the deepening of poverty
levels in the region whilst oil boomed,
some youth members decided to pick up
guns and force the recognition sought.
They ruled over the creeks, which
holds most of the oil in their black green,
waters and prevented the oil operators
from exploiting the oil. They kidnapped
expatriates, enriched themselves from
ransom paid whilst impoverishing
Nigeria. They succeeded where talks
failed, since the federal government
of Nigeria’s dwindling revenue forced
dialogue, culminating in amnesty being
given to the militants.
Then came the intervention of destiny
and the inauguration of President Goodluck
Jonathan (then Vice President of the
FRN) as President upon the demise of
the then President Musa Yar’Adua. This
was certainly more recognition than the
Minister Of Defence, Maj-Gen. Godwin Abbe, Ex-Militant Leader, Government Ekpuomokpolo (Tompolo), Governor Emmanuel Uduaghan And Timi Alaibe
initial fighters foresaw.
This was the chance to right the
environmental injustices – change the
attitude to oil spillages by ensuring
compensation, huge fines and thorough
clean up; ensure adequate community
participation in the OMLs; start training
programmes for the youth in relevant
skills in the energy sector. Five years
down the line and the creeks are more
blackened with oil, environmental laws
still archaic with negligible penalties and
regulators of the oil sector still in bed
with operators. The youth in the creeks
are still disillusioned; the “cause” seemed
to have been forgotten.
Nigerians opted for change in the
2015 elections and the door was shut.
President Goodluck Jonathan saved the
country of the anticipated anarchy by
conceding to defeat, ever so graciously,
even as the Orubebes started frothing.
Niger Deltans, it’s time to return to the
drawing board and understand what the
cause was about!
It was about saving the future of our
children. It was about bringing fresh
fish, prawns back to the waterside. It was
about ensuring corporate responsibility
of international standard that global oil
operators adhere to in developed worlds
that the likes of President Obama impose
huge fines to ensure. It was about
encouraging our youths to work, learn
the skills to be relevant in the energy
sector.
As the “resource control hats” that
benefitted from the FCT vacate the
centre, they should head back to the
Niger Delta. They should invest in good
private schools, in businesses that will
create employment, generally start to put
the money earned where our mouths
have been and take the first steps to
developing the region.
We also call on the new government to
make the laws stricter to discourage pollution
and generally adopt an approach
of aggressive enforcement against oil and
gas pollution, to fight illegal refineries, to
involve communities in oil mining leases.
This is the change we look forward to in
the Niger Delta. This is the next step for
the Niger Delta.
-Tonbofa is Managing Partner, Edward
Ekiyor and Co. She was also the Director
General, Due Process and e-Governance for
Bayelsa State
PLATEAU’S PEACE OF THE GRAVEYARD
statesmen from all the various tribes and
groups in the state, to put heads together
to ensure that peace is given a chance.
On his part, Buhari, though a Fulani is
expected to ensure that justice is done
to every tribe and making sure that the
unabated attacks and clashes between his
Fulani kinsmen and the native Berom farmers
in the state are brought to an end.
There is also no gain-saying the fact that
the promotion of good governance at all
levels of governmental authority remains
the greatest antidote to the problems of
democratic sustenance. In the absence of
good governance, the ruling elite recourse to
ethnic, religious and regional appeals thereby
inflaming primordial identities of the masses.
As such, only a transparent and accountable
leadership that rises above primordial
considerations will be able to enhance the
peaceful co-existence of autochthons and
settlers in Jos.
The inefficiency and ineffectiveness of
security institutions in Jos generally is
underscored by the scope, magnitude and
persistence of violent identity conflicts in
the state.
Strengthening security forces capacity of
proactively detecting early warning signs as
well as respond to inter-communal tension
can help to contain better the outbreaks of
violence. This will require capacity building
and efficient intelligence gathering mechanisms,
including the provision of state of
the art weaponry, necessary for combating
unrest in the 21st century.
In doing this, means for investigating
allegations of security sector complicity in
ethnic and religious violence are required
to ensure accountability. Also, measures that
prevent political elites from manipulating
security personnel for parochial aggrandisement
should be put in place.
Much of the violence on the state has
resulted largely from ignorance and illiteracy.
The fact is that a substantial population of
Nigerians are still illiterate, which makes them
easy vessels of manipulation by unpatriotic
elites. This is very much the case in Jos.
It is therefore necessary to promote and
encourage education by way of making it
mandatory and free, especially at primary and
secondary school levels, including Nomadic
Education for the Fulani. This will help groom
a new breed of citizens that are conscious
of the implications of the manipulation of
primordial identities or mutual co-existence
and development. Through education, people
can be exposed to the several other peaceful
means for resolving conflicts, rather than
resorting to violence.
The fact that poverty and socio-economic
Buhari...will he change anything.
marginalisation often lead to aggressive and
erratic behaviour with ethnic and or religious
connotations cannot be over-emphasised.
Members of some ethnic groups that feel
alienated or deprived often rationalise their
hardship as resulting from the control of
politics and society by members of rival
ethnic groups.
This scenario has whipped up primordial
sentiments which have often resulted in
violent conflicts. It is therefore imperative
that government and other relevant institutions
design poverty reduction schemes that will
be inclusive of all identities and help reduce
the level and scope of poverty as well as
inequality that are often the real causes of
crisis in the state.
Although the Jos situation has transcended
a local affair, it is important that the Buhari
administration takes it more serious, especially
that its selling point is hinged on security.
The killing and madness in Jos cannot go
on unchecked because of its larger implications
for the polity. It is for this reason that
the presidency must take charge of the Jos
situation, and making it an example of the
change it has so much talked about. There
is need for respite in Jos as do other parts
of the country and this Buhari must take
seriously without prejudice to religion and
ethnicity.

24 MONDAY, MAY 18, 2015 • THISDAY
FEATURES
Features Editor Adeola Akinremi
Email adeola.akinremi@thisdaylive.com
Closing the Infertility Gap
Adeola Akinremi spends an afternoon with one of Nigeria’s famous fertility
doctors, Abayomi Ajayi, who has been helping women to beat the odds of infertility
through in vitro fertilisation
In the middle of the slim street,
the engine of one of the cars had
stopped breathing. But movement on
Norman Williams Street— a roadway
famous not only for its name in one
of Nigeria’s affluent Lagos neighbourhood,
but also for the businesses sited on
it—continues on the go.
On Norman Williams, a street off the
famed Awolowo Road, Ikoyi, Lagos, financial
advisers are tending to their clients inside
their offices when I arrive there this wintry
Tuesday afternoon. I’m on a mission to see an
ecclesiastic whose faith in science is changing
the mood for the women in the country.
At a corner of the street, where Dr. Abayomi
Ajayi’s in vitro fertilisation (IVF) clinic sits,
there is no clear difference in its outlook in
comparison to other offices around it, until
you’re inside the clinic. It’s because Nordica
Fertility Centre is not a natural birthplace.
“Nordica Fertility Centre is a reputable
and leading assisted conception centre with
top-class medical facilities in Lagos, Asaba
and Abuja. Our core competence is infertility
management,” Ajayi says with a sense of
purpose.
Yes, it is the rule of the thump for women
age 34 or younger in otherwise perfect health
to try to conceive naturally for one year
before a medical consult is advised.
But where a woman is 35 and unable to
achieve conception, the likes of Ajayi are
concerned. Of Course, there are numerous
fertility problems that can be treated easily,
but some make it nearly impossible to
conceive without medical assistance, one of
many examples is blocked fallopian tubes.
So in 1992, Ajayi, whose passion for
technology has seen him moved ahead of
his personal challenges, decided to go on
a different path. “The day I really decided
I was going to do infertility management
was in 1992, while performing a surgery on
a patient at the University College Hospital
(UCH), Ibadan – a tuber surgery (that is,
the tubes are blocked). Sometimes, when
we performed this surgery, we had an idea
that what we were doing was nonsense – It
wasn’t working.
“The patients couldn’t get better. We knew
that the tubes were very badly damaged. We
had finished the surgery on this very patient
and we all knew the surgery was not likely
to work. Then I asked my consultant ‘what
do you think we can do for this patient’?
And he said, ‘yes in advanced places they
would have done IVF’. And I said ‘why are
we not doing IVF?’ And he laughed. That
day I decided I was going to do IVF,” he
says with a wry smile.
I ask him if he had an idea of what he
wanted to do for a career as a young man
just to understand where his real passion
lies. He replies that his plan was to be an
aeronautical engineer.
“I always wanted to be a scientist, but
the funny thing was that my first love was
aeronautical engineering. But my eyesight
has never been the best – I started using
glasses since I was 12 – and that made me
had a rethink at the age of 15. So, I visited
MediLag, and I saw some young people in
white coats, and I just decided to be a doctor,
come what may. That was how I switched
over to medicine. I’ve always been good
in what was required to do medicine, but
I didn’t really want to do it initially. When
I was writing my JAMB in 1978 – we were
the first set – my first choice was Medicine,
second choice was Medicine, third choice was
Medicine; I was not looking back,” he says.
So after his laboratory experience in 1992,
for the next few years, Ajayi devoted himself
Dr. Ajayi
exclusively to his new project to help people
he classified as a people at the short end of the
string. Clearly, his fondness for technology
combined with passion to help has seen him
turned the tide for many women and to the
Clearly, his fondness for
technology combined with
passion to help has seen
him turned the tide for
many women and to the
zenith of his career as a
fertility doctor
zenith of his career as a fertility doctor. He
tells me that much. “I like technology. In my
house, even my children, they call me Mr.
Technology. I buy the latest technology – I just
love it. Some I can’t even operate anymore
because I don’t have the time. The second
thing, I love standing up for people who
are suffering. There’s something in me that
stands up when I see people who are at the
short end of the string – and that’s the way
I see infertility. Those two things combines
is what got me to where I am now.”
And when I tease him about how expensive
it can be to have IVF, he reveals his mind
about value for money. He seems genuinely
outraged to hear it being transgressed. For
instance, Ajayi calculates the cost of having
a car and the cost of having good health
upon which the usability of the car depends
differently and then strikes a balance.
“When you say expensive, be careful. I
can use the cost of a car and telephones to
speak to you on that one. 10 phones at the
cost of N100,000 each will not be up to that
child I saw on Sunday,” he says drily with
reference to a child birthed through IVF in
his clinic who curled up to him at a mall
in Lagos on a recent Sunday.
He adds: “One thing you need to do:
make your priorities if you want to do IVF.
Everywhere in the world, IVF is not cheap.
It’s technology. Anything that’s based on
technology cannot be cheap, until a time
comes. Do you know how many generators
I have here? The water that we use in
the laboratory, we import from the United
Kingdom. The gloves we use – which are
powder-free – we get from Germany. So, tell
me if you want people not to cut corners, how
expensive IVF can be? I shudder at people
who think we are too expensive, because
people like that open themselves to go to
the wrong places. Because, it’s possible for
me to use ordinary gloves that have powder,
but in IVF we must use powder-free gloves
and for me to do that, I have to buy it from
Germany. So, when the only thing we start
talking about is cost, we become like some
countries I don’t want to mention where
quality has taken a dive.
“For me, what I tell my patients is that
‘you need to understand what we are doing
first’. And then you can decide for yourself.
We are not expensive, we are not cheap.
It’s just like I want to go and buy an apple
computer or other apple products, and I
say it’s expensive.”
Ajayi is a Baptist Deacon with unusual
devotion to the Bible, but he sees no clash
between his faith and science. For him,
God has given the knowledge; ignorance is
what makes people to remain perpetually in
problems. “If you say God does not approve
of IVF, I say you are ignorant. I’m a Baptist.
I’m a Deacon. I’m a Sunday School teacher.
I know the gospel. I will say to you, when
you have appendix and pain, don’t go to
the hospital, God will do it. Am I saying
God cannot do it? No. But God chooses
what he wants to do; you don’t put his
hands into things.
“And when the bible says ‘secret things
belong unto the lord and the things that
are revealed belong to the son of men’ IVF
is one of those things he has let us know,
if you like you can use it, if you like don’t
use it; that’s your personal decision, don’t
bring God into them. Simple,” he says trying
to explain the relationship between science
and faith.
To be sure, he says everything depends on
God, even with IVF. “I liken what we do to
a man planting corn. In the Bible, Paul said,
“Paul sows, Apollo waters, it’s the God that
gives increase’. If your laboratory works well,
you know what you are doing, your staff is
trained, by the time you have transferred the
embryos and your procedures are controlled,
it’s only left to God. There is a God factor
in it. That’s why when people say we are
playing God, I just laugh. That’s why you
must know the technology itself, what are
the limitations of the technology, why does
this technology have these limitations? As
of now, when we put the embryos there, in
the process of what we called implantation,
we have no control of that,” he explains.
True, IVF is controversial, especially
among the people of faith and it has its
stigma too in cultural setting. In Nigeria,
over the years women have lived painful
life of childlessness without recourse to IVF,
but Ajayi says things are changing because
of awareness and better knowledge of IVF
method.

THISDAY • MONDAY, MAY 18, 2015
25
FEATURES
one of the babies
A nurse welcomes new addition to ‘Nordica babies’ in Asaba, Delta State
Dr. Ajayi speaks to entrepreneurs at Standford University...recently
Dr. Ajayi(2nd left) with other speakers at Leland Standford Junior University, United States... recently
PHOTO: SAUL BROMBERGER
“What we want people to do is to be able
to empower them, and remove the stigma
of infertility. 70 to 90 percent of people with
infertility have not done anything wrong,
so why should you be ashamed? And that’s
what we want people to understand: it’s not
because you’ve done anything wrong. It’s
just a medical condition, like people who
have epilepsy, appendicitis, and all kinds
of things, so also is infertility.
I think majority of Nigerians know better
than to stigmatise IVF babies, but I’m sure
there are still some who are still looking at
these children as if they are not normal.
All over the world, over five million babies
have been born through IVF, and they are
all normal babies. My word to prospective
IVF parents is to ‘shine their eyes’ and be
careful. Yesterday, someone shared her
experience with me. They asked her to go
to a ‘mama’ who put aromatic schnapps
and soap together as a concoction for her to
drink. But how can she drink soap? So, she
just paid the money, took the thing and left.
And that’s how people become desperate
and vulnerable and people collect money
from them here and there.
“I know for us as Africans, no matter how
educated we are, we still have some excess
luggage from our culture, upbringing; we
still have some beliefs that are not totally
right. But we’ve been blessed with something
called internet. If I hear your name now, I
Google you, to find out about you,” he says.
For his fears, Ajayi says the industry may
be facing the challenge common to every
thriving industry—low quality. He explains
that there are moves to champion a regulation
to bail out the industry from people who
have no business working there.
“The thing is quality control. There are many
people, but nobody is monitoring anybody.
What are the basic minimum requirements to
do IVF? So, the basic thing that’s left is for
In April, the Stanford
University in the United
States, where Ajayi has
equally had training,
desired to use his success
story to stimulate growth
of entrepreneurship on
the soil of Africa and he
was invited to speak at a
summit
the buyer to beware. We need to be able to
educate the buyer on what to look out for.
If not, people will think all IVF practitioners
in Nigeria are quirks. But the truth is that
people are looking for the cheapest.
“Regulation is not something that one
person can do. But I think we are approaching
that because we now have an association
of fertility and reproductive practitioners.
I hope with time that might snowball into
regulation,” he says with an air of expertise.
Ajayi shares a recent experience that encourages
him to forge ahead in keeping up with
women who needs his service. “Penultimate
Sunday, I felt fulfilled for the first time. I went
to buy some sport things at Spark, because
I wanted to start exercising seriously. As I
was carrying my bag approaching my car, a
young lady approached me shouting ‘Doctor
Ajayi, Doctor Ajayi,’. I was surprised that
she recognised me, because she had only
seen my back. But she said ‘my husband
was the first to sight you’. She was with a
young girl. I had never seen a more brilliant
girl. This girl is about 3; she engaged me
in a discussion and I forgot I was talking
to a young girl. Her facial expressions and
everything was wow. I felt very happy that
God used me and my team to make that
happen. Since Sunday, I’ve been remembering
that young girl, and her smartness. She was
born through IVF at our clinic,” he enthuses.
Now, this University of Lagos graduate,
who lost his parents early in life; moved
in to live with his uncle and grew up in
Lagos like a normal child has become a
pathfinder for many and an ambassador
of his country.
In April, the Stanford University in the
United States, where Ajayi has equally had
training, desired to use his success story to
stimulate growth of entrepreneurship on the
soil of Africa and he was invited to speak
at a summit. “A lot of them were surprised
we could do something like that in Africa,
but the reception was very warm. We had
very interesting discussions. But the most
important thing is I don’t see myself as a
doctor anymore, but as an entrepreneur.
Being a doctor is just one part of it. Being
an entrepreneur is a bigger part of it where
you can provide employment for other people,
and help to shape other people’s future.
It’s a big responsibility and I don’t think
it is one that we should take with levity. I
look at some people who have thousands of
people in their employment – it’s a special
grace, and one should not abuse it,” he says.
Revealingly, Ajayi shares the same office
with his wife as a co-worker at Nordica
Fertility Centre at 116, Norman Williams
Street, Ikoyi, but he says,“my wife works
here. Here we are not husband and wife.
We just do our work and get out.”

26 THISDAY • MONDAY, MAY 18, 2015
IMAGES
Photo Editor Abiodun Ajala
Email abiodun.ajala@thisdaylive.com
L-R: Tender/Market Access Manager (GSK), Abass Sanni; Group Product Manager, Ijeoma Eruchalu; Communication
& Engagement Manager, Bolaji Sanyaolu and Founder, Elias Nelson Oyedokun Foundation (ENOF), Lola Ilaka at
the 2015 World Asthma Day Symposium sponsored by GSK in collaboration with ENOF in Lagos...recently
Chairman, Senate Committee on Ecology and Environment, Senator Bukola Saraki ( left ), and former British Prime
Minister, Tony Blair, after a private meeting in Abuja...recently
L-R; Lecturer, Redeemer University, Dr. Omowale Adelabu; Managing Director, Synthesis Communications Limited,
Mr. Desmond Ekeh and Deputy Managing Director, Mr. Agbo Agbo during the visit of the University BrandiQ
Campus Club members to Synthesis office in Lagos...recently
Registrar, Advertising Practitioners Council of Nigeria (APCON), Alhaji Garba Bello Kankarofi (left); presenting an
award to, Commercial Director, Promasidor Nigeria Limited, Mr. Kachi Onubogu for being the best student in the
modified executive programme examinations in Lagos...recently
L-R: Natural Hairstylist, Felicice Leatherwood; Hair Naturalista, Nibi Lawson; and Former Editor , Global of Naturally
Curly Magazine, Cassidy Blackwell, during a press briefing on Kinky Apothecary workshop in Lagos...recently
L-R:Immediate Past President, Nigerian Association of Petroleum Explorationists (NAPE), Adedoja Ojelabi;
Director, Department of Petroleum Resources,(DPR), George Osahon; and President, NAPE, Chikwe Edoziem at the
Presentation of the Association’s 2014 Pre-Conference Workshop Communique to the Director, DPR for onward
transmission to The Minister of Petroleum Resources in Lagos recently.
L-R: Deputy Vice-Chancellor Academy, University of Ibadan, Prof. Gbemi Oke; Deputy Vice-Chancellor, Administration,
Prof. Ambrose Aiyelari; Vice-Chancellor, Prof. Isaac Adewole and Registrar, Mr. Olujinmi Olukoya at a press briefing over
the death of one of the students of the University, Mr. Mayowa Alaran held at the Senate Chamber of the University in
lbadan...recently
FELIX ADEMOLA
L-R : GM Palatially, Henry Okwandu; Company Secretary, Royal Lifestyle Group, Emeka Stevens; Rep. of La Montina,
Alessandro Provasi and , MD, Recherche Events & Gifts Ltd; Abasam Onyia during the La Montina Wine tasting event
in Lagos...recently

THISDAY • MONDAY, MAY 18, 2015
27
BUSINESSWORLD
R A T E S A S A T M A Y 1 7 , 2 0 1 5
NIBOR NITTY EXCHANGE RATE
OVERNIGHT 9.4583 3-MONTH 13.9314 1-MONTH 10.6657 6-MONTH 12.9611 N197.00 US DOLLAR*
1-MONTH 12.8783 6-MONTH 15.1624 2-MONTH 12.5874 9-MONTH 13.3938 *AS AT LAST FRIDAY
3-MONTH 12.641 12-MONTH 13.3089
Quick Takes
ECOBANK PRE-AGM COCKTAIL
L-R: Managing Director, Ecobank Nigeria, Mr. Jibril Aku, Chairman Ecobank Foundation,Chief Philip Asiodu; Chairman, Ecobank
Transnational Incorporated (ETI), Chairman, Ecobank Nigeria, Mr. Emmanuel Ikazoboh; Chairman, Elizade Nigeria Limited, Chief
Michael Ade Ojo; and Dr. Sonny Kuku during the ETI Pre-Annual General Meeting cocktail in Lagos...recently.
AKINWUNMI IBRAHIM
FG’s Revenue Drops by 21% in
February
Obinna Chima
Nigeria’s federally-collected
revenue reduced to N560.84
billion in February 2015.
The estimated federallycollected
revenue in February
2015, according to the Central
Bank of Nigeria’s (CBN’s)
economic report for February
obtained at the weekend, was
lower than the receipt in the
preceding month by 21 per cent.
Similarly, the estimated amount
of revenue earned in February
was lower than the provisional
2014 monthly budget estimate
by 38.1 per cent.
The decline in estimated
federally-collected revenue
(gross) relative to the monthly
budget estimate was attributated
Total Pension Funds Hit N4.7 Trillion
Ebere Nwoji
The total pension funds
currently accumulated in the
country stand at N4.7 trillion
as at December 2014, Chairman
of Premium Pension Limited,
Aliyu Dikko has said.
This figure, according to him,
represents an increase of N0.6
trillion from the N4.1 trillion
in 2013.
The current figure was
contributed by 6.5 million
workers who have enrolled
into the contributory Pension
scheme (CPS) as at December
2014, an increase of 0.4 million
contributors against the
previous year’s figure of 6.1
ECONOMY
largely to the shortfall in receipts
from oil revenue during the
review month.
At N201.12 billion or 35.9
per cent of the total revenue,
gross non-oil receipts was below
the provisional 2014 monthly
budget estimate by 35.0 per
cent. It was also below the
receipts in the preceding month
by 10.4 per cent. The decline
in non-oil revenue relative to
the provisional monthly budget
estimate reflected, largely, the
fall in receipts from National
Information Technology Development
Fund (NITDEF) and
FG Independent Revenue,
according to the report.
PENSION
million contributors.
Disclosing this at the 10th
Annual General Meeting of
his company held in Abuja,
Dikko, whose company is one
of the licensed Pension Fund
Administrators said the above
improvements shown by the
figures was an indicative of
the fact that the teething challenges
of the pension industry
had been surmounted and the
initial skepticism trailing the
operations of the contributory
Pension Scheme drastically
reduced.
“The CPS is today arguably
Of the gross federallycollected
revenue in a net sum
of N408.37 billion (excluding
deductions and transfers) was
transferred to the federation
account for distribution among
the three tiers of government
and the 13 per cent derivation
fund.
The federal government was
said to have received N194.35
billion, while the state and local
governments received N98.58
billion and N76.00 billion,
respectively. The balance of
N39.45 billion was distributed
to the oilproducing states as
13 per cent derivation fund.
From the value added tax
(VAT) pool account, the federal
government received N9.21
billion, while the state and
the most successful government
initiative in recent times and a
clear testimony to the effectiveness
of private-sector-driven
rendition of service in critical
sectors”, he stated.
He noted that the year
2014 marked 10 years of the
introduction of the Contributory
Pension Scheme (CPS) in the
country, adding that the year
also witnessed the promulgation
of the
Pension Reform Act 2014,
which repealed the Pension
Reform Act, 2004.
He noted that the new act
effected a lot of relevant changes
into the pension scheme.
“This new legal instrument
local governments received
N30.69 billion and N21.48
billion, respectively.
“Overall, the total allocation
to the three tiers of government
from the federation account and
VAT pool account in the review
month amounted to N489.85
billion, compared with N568.79
billion in the preceding month,”
it added.
During the month of February
2015, the predominant
agricultural activity across
the country was preparation
of land for early planting.
Other activities in the southern
and northern states included:
harvesting of tree crops;
irrigation-fed vegetable and
Continued on page 28
guiding the pension industry
has among other provisions
graciously increased the total
minimum contributions from
15per cent to 18per cent of the
employee’s emolument, provide
basis for extending the scheme
to organisations having as less
as three employees, allow RSA
holders to utilise part of their
balance as equity contributions
for mortgage facilities and
expanded the investment space
by providing legal framework
for investment abroad.
Describing the new law as
a great opportunity waiting
to be tapped by the industry
Continued on page 28
Ethiopian Airlines Extends Service to Sao Paulo
Ethiopian Airlines has announced that it has started serving
Sao Paulo, a city in the fifth continent in its route network, with
a non-stop flight from Addis Ababa since April 25, 2015.
Ethiopian tri-weekly flights to Brazil are operated using the
ultra-modern Boeing 787 from the major hub in Addis Ababa. The
start of this non-stop service to Sao Paulo reduces transit stops
for customers traveling from the rest of Ethiopian destinations.
Brazil is the largest national economy in South America and
the eight in the world. Brazil has a diversified economy including
agriculture, industry, and a wide range of services such as
ecotourism, leisure and cultural tourism.
Sao Paulo is the biggest city in the country and has significant
cultural, economic and political influence both nationally and
internationally. The city is home to several important monuments,
parks and museums.
“We are very pleased to be able to enhance the quality of our
product and improve our competitive edge. The non-stop flight
secures increased connectivity and reduced transit time for our
customers. The new nonstop Addis Ababa – Sao Paulo flights
will provide efficient connections for customers from almost all
of our destinations in the other four continents we serve. “Said
CEOof the airline, Tewolde Gebremariam.
Passengers to and from Sao Paulo will enjoy maximum connectivity
to destinations in Ethiopian world-wide route network
in Africa, Middle East, Asia and Europe. The new non-stop flight
will enhance travel on the China – Africa – Brazil trade lane.
LEAP Africa Focuses on Risk Management
Managing Director/CEO, Nestle Nigeria, Mr. Dharnesh Gordhon,
Managing Director, Lafarge Cement Wapco Nigeria, Mrs. Peju
Adebayo, Managing Director, Custodian And Allied Insurance
Plc, Mr. Wole Oshin, and Founder, Managing Director, JNC International
Nigeria Limited, Mrs. Clare Omatseye will lead high-level
discussions at LEAP Africa’s chief executive officers forum for
small and medium enterprise (SMEs) on June 9, 2015 in Lagos.
LEAP Africa, a leadership development organisation and its
partners will converge 800 SMEs at the 10th edition of the CEOs
Forum under the theme Staying Ahead: Maximizing Profit and
Mitigating Risks. The speakers will deliberate on sectoral and
industrial risks, the need for SMEs to concentrate their efforts
in evaluating and managing their risk exposures for long term
sustainability.
According to LEAP Africa’s Executive Director, Iyadunni
Olubode, “SMEs should be proactive in managing risk instead
of being reactive. There is a common misconception that only
large companies need to manage risks, but this year’s CEOs Forum
seeks to address that and offer practical advice for entrepreneurs
on protecting their profits through risk mitigation strategies”.
The forum will provide cutting-edge solutions and best practices
in corporations to enable SMEs deal with risks in present political
and economic realities in Nigeria.
Three Crowns Rewards Patrons
In commemoration of the 2015 Mother’s Day celebration, Three
Crowns Milk, a brand from the stables of FrieslandCampinaWAMCO
has rewarded its esteemed consumers in the Mother’s Day
Activation campaign.
The grand prize winner’ Mrs. Olamide Olaleye, who emerged
as the ‘Mum of the Year’ won an all-expense paid trip to Dubai
alongside a companion of her choice while 29 other mothers
were also rewarded with N50,000 shopping voucher.
The Three Crowns Milk Mother’s Day Activation is a Facebook
based campaign in which consumers are expected to write on the
Three Crown’s Facebook wall why their mum is the best mum in
the world. These posts are judged on a daily basis starting from
April 28 to May 7 (10 days) and three were picked daily while the
overall winner was adjudged on the last day of the campaign.
According to the Marketing Director, FrieslandCampinaWAMCO,
Mr. Tarang Gupta, the campaign is in line with the brand’s new
theme campaign which is deeply rooted in recognising the key
role of mothers in the family.
“The business of
banking has been
modernised in Nigeria
and is not too far from
what obtains in the
more advanced world”
MD, Wema Bank,
Segun Oloketuyi

28
BUSINESSWORLD
THISDAY • MONDAY, MAY 18, 2015
NEWS
FG’S REVENUE DROPS BY
21% IN FEBRUARY
cereal production, respectively.
In the livestock sector, farmers
were involved in raising the
stock of livestock to replace
those sold during the festivities.
Though the incidence of
insurgency subsided in
February 2015, agricultural
activities remained subdued
in most areas of southern Yobe
and Borno States as well as
northern Adamawa states.
TOTAL PENSION FUNDS
STAND AT N4.7 TRILLION
operators, Dikko said though
operators including his company
Premium pension are
strategising towards optimising
the benefits,more work still
has to be done in the area
of public enlightenment on
the workings of the industry
and the immense advantages
accruable from enrolling in the
scheme.
He noted that the pension
industry is currently moving
towards reckoning as a critical
sector of the economy and
a major player in national
development adding that this
is as a result of professionalism,
dedication and commitment
of the operators.
“Our company is now firmly
rooted in an industry that has
come to stay.
Credit must also be given
to the National Pension Commission
(PenCom) for its
effectiveness as the regulatory
body of the industry. It contributed
in no small measure
in seeing to the promulgation
of the Pension Reform Act
2014. The agency is driving
the process of actualising the
promises and potentials of the
new legal instrument. PenCom
deserves a great measure of
credit for the tremendous
successes recorded in the
industry in the past decade.
From all indications, the agency
is even poised to do more,”
he affirmed.
Speaking on the state of
the economy,Dikko said that
Standard and Poors credit
rating for Nigeria stands at
BB- while Moodys rating for
Nigeria sovereign debt is Ba3.
Energy Editor
Chika Amanze-Nwachuku
Maritime Editor
John Iwori
AgriBusiness/Industry Editor
Crusoe Osagie
Comms/e-Business Editor
Emma Okonji
Capital Market Editor
Goddy Egene
Senior Correspondent
Raheem Akingbolu (Advertising)
Correspondents
Chinedu Eze (Aviation)
Linda Eroke (Labour)
Eromosele Abiodun (Cap Mkt)
Ejiofor Alike (Energy)
James Emejo (Nation’s Capital)
Obinna Chima (Money Mkt)
Reporters
Nume Ekeghe (Money Market)
Nosa Alekhuogie (AgriBusiness)
Reposition PPMC to End Fuel Crisis,
PENGASSAN Tells FG
Chika Amanze-Nwachuku
The Petroleum and Natural
Gas Senior Staff Association
of Nigeria (PENGASSAN) has
called for the repositioning of
the Pipelines and Products
Marketing Company (PPMC)
to end the intractable and inefficiency
in the distribution and
supply of petroleum products
across the country.
According to the group, if
the challenges confronting
the operations of the PPMC
are not resolved, it would be
difficult for petroleum products
to be available in all parts of
the country and at relatively
the same prices.
The trade union noted that
the PPMC is not only crucial
to the distribution of refined
petroleum products but also
to efficient and effective
performance of the refineries
as it supplies crude oil, which
is the feedstock for refineries’
operations.
PPMC has depots in Port
Harcourt, Enugu, Calabar, Aba,
Gombe, Yola Ibadan, Ilorin,
Makurdi and other major
states’ capitals throughout
the federation.
PENGASSAN argued that if
the PPMC, a subsidiary of the
Nigerian National Petroleum
Corporation (NNPC) was
repositioned and the pipelines
are functioning as supposed
to be, there would be more
jobs and pressure on Nigerian
roads would reduce.
Some of the challenges
hampering the effective and
efficient operations of the
PPMC listed by PENGAS-
SAN include insecurity of
pipelines and staff of the
company, inadequate funding,
ageing equipment, supply of
substandard operational equipment,
shortage of manpower,
irregular capacity building for
existing staff of the company
NAHCO, ANCLA Settle
for 20% Tariff Increase
Chinedu Eze
The Nigerian Aviation
Handling Company (NAHCO)
and the Association of Nigeria
Customs Licensed Agents
(ANCLA) at the weekend
reached a consensus on the
issue of adjustment in air cargo
tariff by 20 per cent.
NAHCO said the implication
of the new agreement was
that the company revised
downward the initial 30 per
cent increase it had started
implementing, while ANCLA
would move up from zero to
20 per cent.
Rising from a meeting held
at the head office of NAHCO
in Lagos, the negotiating
team of ANCLA led by
its Vice – Chairman, Bola
Ashiru–Balogun, with the
Treasurer, Afolabi Azeez and
the Financial Secretary, Obanla
Alex said that they reached
the agreement with NAHCO
and lack of reliable fire trucks
and good safety standards.
PENGASSAN noted that the
greatest challenge confronting
the PPMC is vandalism of
pipelines by criminals and
economic saboteurs.
Explaining the implications
of the challenge, PENGASSAN
said: “The negative impacts of
the pipeline vandalism on the
nation’s economy and the oil
and gas industry are enormous.
Such include non-functionality
of existing refineries, increased
operational cost, job losses,
reduction in investments in
the downstream sub sector
and inability to attract new
investment, and inadequate
supply/availability of refined
petroleum products in other
in the interest of the overall
development of the industry
and in realisation of the fact
that both sides were in this
tough economic situation
together.
The CEO, nahco aviance,
Norbert Bielderman said what
happened was in the best spirit
of give and take and thanked
everyone involved in the
negotiations for their maturity
while particularly thanking
the ANCLA representatives
for their professionalism.
He said: “I would like to
thank you all for the professionalism
you brought into
these negotiations. You guys
have been very professional.
I appreciate that.”
Bielderman urged leaders
of the association to always
feel free to approach NAHCO
whenever issues that concerned
both parties arose.
On his part, Ashiru – Balogun
said this was the first time
parts of the country.
“The efficiency and
functionality of the nation’s
refineries are continuously
frustrated by inadequate crude
oil supply which is as a result of
vandalisation of pipelines that
supply crude to the refineries.
The refineries are continuously
starved of crude oil supply
with possibility of forcing a
shut down.
“The inadequate availability
and scarcity of refined products
across the country can
also be attributed to pipeline
vandalisation, as distributions
of petroleum products which
are supposed to run through
pipes to various parts of the
country are vandalised.
“Both the crude and refined
in a long while that NAHCO
would get its act right; and
that the push by the Company
for the tariff increase was so
organised.
Ashiru – Balogun said
although NAHCO called the
agreement a win-win situation,
it is to the Association and
their teeming members that
was a lose – win situation.
He explained that NAHCO
won this time and should be
congratulated, adding however,
that ANCLA would win the
next time even as he call for
an even stronger relationship
between the two partners grow.
He also urged the Company
to always consult ANCLA
whenever issues that concern
them are decided upon.
An earlier meeting, which held
on Monday, May 11, 2015 could
not resolve the issue and had
to be adjourned till later in the
week. It finally held Thursday
with the agreement reached.
products are piped through the
pipeline manage by the PPMC.
If the pipelines are effectively
policed and secured, there will
be regular supply of crude
to the refineries and those
imported and stored in tank
farms to be piped to depots
across the country for effective
distribution to engender
adequate availability of the
products.”
The trade union also noted
that many of its members
were attacked and killed by
the vandals in line of duties to
fix and repair pipelines broken
and damaged by the vandals.
While demanding that the
government should evolve
the political will to deal with
pipeline vandalisation by using
Damilola Oyedele in Abuja
The Medical and Health Workers
Union of Nigeria (MHWUN)
has called on the federal government
to uphold the Abuja 2010
Declaration of African Heads of
States to commit not less than 15
per cent of budgetary provision
to the health sector.
Rising from its Ninth Quadrennial
National Delegates Conference
in Abuja recently, the union
expressed regret over what it
said was the extreme shortage of
health professionals in the country,
a development which had done
great harm to the functionality of
the national health sector.
In a communique signed by
its President, Comrade Ayuba
Wabba and General Secretary,
Comrade Marcus Omokhuale,
the MHWUN harped on the
urgency of the government’s at
all levels to institute strategies to
arrest brain drain in the sector,
including increased tangible
and intangible motivation, and
commence rapid employment of
modern technology to secure
the pipelines, PENGASSAN
called for overhauling of the
security agencies that are in
charge of providing security for
the pipelines, as it accused some
of the officers of connivance
with the vandals.
PENGASSAN bemoaned
the inadequate funding of
PPMC, adding that most of
the company’s equipment are
ageing and are in bad shape.
“The equipment are ageing as
some of them that have lifespan
of 15 years are over 35 years old
and are not well maintained.
Even when maintenances were
to be carried out, we discovered
that contractors usually supplied
substandard materials for the
repair and maintenance.
ACCOUNTING TO SHAREHOLDERS
L:R: Managing Director/C.E.O, Nigerian Breweries Plc., Mr. Nicolaas Vervelde; Chairman, Chief Kola Jamodu; and the Company
Secretary, Mr. Uaboi Agbabaku, at the 69th annual general meeting of the company in Lagos ....recently
Medical Workers Demand
15% Budgetary Provision
for Health Sector
health professionals at all tiers of
the health system.
“Regrettably, apart from Medical
and Dental Practitioners, there
appears to be a near zero-concern
for the training and re-training
of other health professionals.
Conference-in-session, therefore,
calls on the FGN for a rethink,
for a continued training and
re-training of other health professionals
and staff to enhance health
services delivery,” MHWUN said.
The union expressed worry
about the degree of dilapidation
of health facilities and training
institutes across the country
which it said do not augur
well for immediate and future
healthcare delivery in the country.
This, it said has led to several
colleges of health technology
and university teaching hospitals
across the country losing their
accreditation, despite the fact
that they continue to churn out
human resource for health in a
limited attempt to address the
quantitative shortage of health
professionals.

THISDAY • MONDAY, MAY 18, 2015
BUSINESSWORLD
29
MARKET REPORT
Stock Market Rises by 0.15% as
Bulls Return
Goddy Egene and Eromosele
Abiodun
After seven straight sessions
of negative returns, the Nigerian
equities market bounced back last
week to record an increase of 0.15
per cent.This was as a result of
the positive outcome during the
three last trading days week, help
by bargain hunting by investors
who wants to take position for
possible gains.
At the beginning of the week, the
market had witnessed a mixture of
poor sentiment and profit taking by
anxious investors. Three consecutive
bullish trading sessions that ended
the week led the benchmark to
a positive close, despite disappointing
inflation and GDP data.
Following the previous week’s
all bear session, the declines had.
continued into last week, with the
Nigerian Stock a Exchange (NSE)
All-Share Index ASI shedding 0.79
per cent cumulatively on Monday
and Tuesday. However, the bulls
returned on Wednesday and lasted
through Friday, spurring the benchmark
ASI to cancel initial losses.
Consequently, the ASI recorded a
gain of 0.15 per cent to close at
34,439.40 while market capitalisation
rose by 0.16 per cent to close on
Friday at N11.697 trillion.
Last week’s gain improved the
Month-to-Date and Year-to-Date
returns to -0.77 per cent and -0.63
per cent respectively. Similarly, six
indices finished higher during the
week. The NSE Consumer Goods
and NSE Oil/Gas Indices topped
the gainers’ chart with respective
increases of 0.66 per cent and 0.62
per cent, while the NSE Industrial
Goods index went up by 0.14 per
cent. However, the NSE Banking
index shed 0.19 per cent, just as
the NSE Insurance index went
down by 0.14 per cent.
Daily Performance Summary
Investors’ outlook on the market
remained negative at the resumption
of trading last Monday as the
equities market closed further
southwards. At the close of trading
for the day, the benchmark index
recorded its sixth consecutive
session of declines to settle at
34,341.88 (down 0.13 per cent).
Market capitalisation, which closed
at N11.66 trillion similarly lost about
N16 billion. While volume of trades
moderated (1.20 per cent), value
of stocks traded improved (3.20
per cent).
The market also closed on a
negative note on Tuesday as the
NSE ASI depreciated by 0.66 per
cent to close at 34,115.49. The
depreciation in the Index could
be attributed to the losses recorded
in the share prices of some highly
capitalised stocks such as ETI
Plc, Oando Plc, FBN Holdings
Plc, Nigerian Breweries Plc and
Dangote Sugar Plc, amongst others.
Similarly, the market capitalisation
depreciated by 0.66 per cent to
close at N11.59 trillion.The total
value of the stocks traded on the
floors of the NSE was N3.29 billion,
up by 39.18 per cent from N2.36
billion traded previous day.
However, the market the closed
on a positive note on Wednesday
as the Bulls returned, punctuating
seven straight sessions of negative
returns. Guaranty Trust Bank
Plc, Zenith Bank Plc and ETI Plc
bolstered the positive session,
offsetting declines in Dangote
Cement Plc and UBN Plc. In all, the
All Share Index was 0.27 per cent
higher at 34,208.30 points with a
corresponding market capitalisation
of N11.61 trillion.
The market remained positive
Thursday as the NSE ASI appreciated
by 0.60 per cent to close at
34,414.18, compared with the appreciation
of 0.27 per cent recorded
the prior day. The appreciation in
the Index was as a result of the
gains recorded in the share prices of
Zenith Bank Plc, Dangote Cement
Plc, FBN Holdings Plc, Forte Oil
Plc and Oando Plc, amongst others.
Similarly, the market capitalisation
appreciated by 0.61 per cent to
close at N11.69 trillion. The total
value of the stocks traded on the
floors of the NSE was N4.03 billion,
up by 20.05 per cent from N3.35
billion traded the prior day.
Market sentiment was slightly
positive at the close of trading for
the week last Friday as the NSE
ASI rose by 0.07 per cent from its
previous close. The green outcome
was driven by price gains in Forte
Oil Plc, Nigerian Breweries Plc,
offsetting losses in Guaranty Trust
Bank Plc and Guinness Nigeria Plc.
At the end of trades, the benchmark
TOP TEN BROKERS(BY VALUE) AS AT LAST FRIDAY
BROKER VALUE % VALUE
STANBIC IBTC STOCKBROKERS LIMITED 4,780,988,100.71 13.83
CSL STOCKBROKERS LIMITED 4,509,167,191.07 13.04
RENCAP SECURITIES (NIG) LIMITED 2,427,986,043.47 7.02
EFCP LIMITED 1,793,998,283.88 5.19
FBN SECURITIES LIMITED 1,765,249,661.64 5.11
CORDROS CAPITAL LIMITED 1,236,344,699.37 3.58
CARDINALSTONE SECURITIES LIMITED 1,020,619,904.58 2.95
CHAPEL HILL DENHAM SECURITIES LTD 1,020,351,327.79 2.95
PARTNERSHIP SECURITIES LIMITED 875,136,334.53 2.53
INVESTMENT ONE STOCKBROKERS INT’L LTD 710,669,211.52 2.06
20,140,510,758.56 58.25
TOP TEN BROKERS (BY VOLUME) AS LAST FRIDAY
BROKER
VOLUME %VOLUME
CSL STOCKBROKERS LIMITED 434,373,611 10.51
STANDARD ALLIANCE CAPTL & ASSET MGT. LTD 398,139,374 9.63
GREENWICH TRUST LIMITED 296,614,616 7.18
STANBIC IBTC STOCKBROKERS LTD 272,571,519 6.59
FBN SECURITIES LIMITED 210,546,281 5.09
CORDROS CAPITAL LIMITED 202,861,551 4.91
CARDINALSTONE SECURITIES LIMITED 154,298,621 3.73
READINGS INVESTMENTS LIMITED 123,511,441 2.99
EFCP LIMITED 122,887,120 2.97
RENCAP SECURITIES (NIG) LIMITED 97,457,714 2.36
2,313,261,848 55.96
index closed at 34,439.52 points
while market capitalisation added
N8.61 billion to settle at N11.70
trillion. Market activity significantly
declined as volume and value of
trades dipped by 48.0 per cent
and 65.4 per cent respectively.
Consequently, 184 million units
of shares valued at N1.39 billion
were exchanged on the bourse.
Market Turnover
In all, 1.626 billion shares worth
N14.426 billion in 20,124 deals were
traded last week by investors on
the floor of the exchange in contrast
to a total of 1.584 billion shares
valued at N20.151 billion that
exchanged hands the previous
week in 23,279 deals.
The Financial Services Industry
(measured by volume) led the activity
chart with 1.289 billion shares
valued at N9.741 billion traded in
10,522 deals; thus contributing 79.29
per cent and 67.52 per cent to the
total equity turnover volume and
value respectively.
The Services Industry followed
with a turnover of 76.626 million
shares worth N97.927 million in
1,140 deals. The third place was
occupied by the Consumer Goods
Industry with 69.608 million shares
worth N2.078 billion in 3,552 deals.
Trading in the top three equities-
United Bank for Africa Plc,
Zenith Bank Plc, and FBN Holdings
Plc, accounted for 754.043 million
shares worth N6.223 billion
in 3,699 deals, contributing 46.37
per cent and 43.13 per cent to the
total equity turnover volume and
value respectively.
Also traded during the week
were a total of 25,469 units of
Exchange Traded Products (ETPs)
valued at N3.339 million executed
in 53 deals compared with a total
of 1.388 million units valued at
N31.490 million transacted the
previous week in 47 deals.
There was no bond traded this
week under review. However,
a total of 4,569 units of Federal
Government Bonds valued at N4.966
million were traded the previous
week in two deals.
Gainers and Losers
Meanwhile, the price movement
chart of the NSE showed that a
total of 30 equities appreciated in
price during the week, lower than
32 equities of the preceding week.
Forty-one equities depreciated in
price, lower than 45 equities of the
preceding week, while 122 remained
unchanged higher than 116 equities
of the preceding week.
The top 10 gainers were: seven-Up
Plc (N14.00), Forte Oil Plc (N10.22),
Beta Glass Plc (N3.00), Unilever
Nigeria Plc (N2.03), Conoil Plc
(N1.90), Berger Paints Plc (93 kobo),
University Press Plc (55 kobo),
Neimeth (10 kobo), Caverton Plc
(25 kobo) and Red Star Express
Plc (22 kobo).
On the other hand, the top 10
losers included: Total Nigeria Plc
(N15.00), Glaxo Smithkline Plc
(N9.80), ETI Plc (N2.93), Unity Bank
Plc (39 kobo), Skye Bank Plc (33
kobo), Honeywell (49 kobo), May
and Baker Plc (19 kobo), Learn
Africa Plc (12 kobo), Rt Briscoe
Plc (9 kobo) and Trans Nationwide
Express Plc (10 kobo).

30 THISDAY • MONDAY, MAY 18, 2015
BUSINESSWORLD
INSIDE BROAD STREET
STATUS REPORT
High Level of
Unsatisfied
Forex Demand
Worries
Analysts
Obinna Chima
A view of Lagos financial district
Furore over Repayment of N100bn
Mortgage Bond
Obinna Chima
With few days to the maturity of part of the
federal government’s N100 billion mortgage
bond, the significant drop in federal government’s
revenue is threatening the redemption
of the debt.
Specifically, the total value of Series 3 of the
bond that matures on May 24, 2015 is worth
N24.56 billion. However, given challenges occasioned
by the slump in crude oil prices that
has continued to threaten policies and plans
of government, there have been some issues
around the repayments to the bondholders.
According to findings, the Federal Mortgage
Bank of Nigeria (FMBN), the Debt Management
Office (DMO) and the Federal Ministry of
Finance have continued to trade blame over
who should be held liable for the five-year
bond that was initiated in 2007 to ensure
success of the sale of federal government’s
non-essential residential houses in the Federal
Capital Territory (FCT) to public servants.
In 2007, the administration of former
president Olusegun Obasanjo had initiated
the debt instrument and the FMBN and its
issuing house, had sold the first tranche of
N26 billion same year. However, impressed
with the outcome, Messrs FMBN SPV Issuer
Limited in 2012 issued another N6 billion notes
by way of private placement to qualified
institutional investors.
The Series 2 Fixed Rate Notes issued under
the N100 billion Residential Mortgage Backed
Securities Programme, which is sponsored by
FMBN, was 100 per cent guaranteed by the
Federal Government of Nigeria. The bonds
have unconditional and irrevocable guarantee
of the Federal Government, making investments
in the securities virtually risk-free.
A statement obtained on the transaction
showed that “The Mortgage-Backed Bond
was issued under Special Purpose Vehicles
incorporated at Corporate Affair Commission,
namely; FMBN SPV Issuer Limited, FMBN
SPV Funding Limited and FMBN Mortgage
Trustee Limited. These, it stressed are distinct
entities from the FMBN, maintaining that it
is wrong to say the bond is an FMBN bond.
“Once the FGN Guarantee backing Series 3
is called, Series 2 will become due as provided
by the Trust Deed because it will no longer have
any credit enhancement support,” it added.
The FMBN had argued that it neither
MARKET INDICATOR
sponsored nor guaranteed the transaction,
and as such should not be held responsible
or liable for the bond.
It also stated that principal actors in the
transaction noticed the mismatch, but the then
minister of finance overlooked the lapses.
But THISDAY recently reported that a
directive conveyed through a letter dated
15th May 2015, addressed to the Minister of
Lands and Housing, Mrs. Akon Eyakenyi,
the Coordinating Minister for the Economy/
Minister of Finance, Dr. Ngozi Okonjo-Iweala
had recommended that assets of FMBN be
sold to offset the sum of N24.56 billion, which
matures on 24th May 2015.
The letter read in part; “I wish to recommend
that Mr. President considers directing
the Honourable Minister of Lands, Housing
and Urban Development to direct the FMBN
to raise funds to pay its maturing obligation
of N24.564 billion on May 24, 2015, as it must
forestall imposing a crisis on the economy.”
The minister had also directed that FMBN
should ensure remittance of N4.54 billion
collected on its behalf by Aso Savings and
Loans Limited, adding that the mortgage
bank should immediately recover all the
non-performing loans.
“FMBN should ensure that Aso Savings and
Loans Limited immediately remit the collections
of N4.54 billion which it has failed to remit
to the FMBN. FMBN to immediately recover
all the non-performing loans, including the
use of Foreclosures (where the C of Os’ of the
properties are in the custody of the security
trustees) of the assets of the defaulters, and take
all necessary actions to ensure that the federal
government guarantee does not crystalise.”
The DMO had identified negative carry
(interest rate subsidy), non-performing loans
and non-remittance of collections as major
challenges encountered by the bond transaction.
Nevertheless, the Managing Director of FMBN,
Gimba Ya’u Kumo had in a letter dated 29th
April 2015, addressed to the DMO, had explained
that the bond issuance programme was at
the instance of the federal government. He
had also added that the federal government’s
guarantee that supported the bond transaction
was between the federal government as the
guarantor, and UBA Trustees Limited as the
AKINWUNMI IBRAHIM
Notes Trustees.
“The bond was structured in consultation
with the federal ministry of finance and the
DMO, both the tenor and the interest mismatch
were identified at the time but overlooked by
the then minister of finance.”
Kumo in the letter noted that the guarantee
was irrevocable and unconditional, which
according to him, requires the guarantor
to make good its obligation in the event of
default of shortfall.
Some experts have described current events
surrounding the bond repayment as unfortunate
saying the development might have a dire
consequence on the economy. They also noted
that if the FMBN is made to pay the debt,
it might affect the liquidity of the primary
mortgage finance sub-sector.
A statement quoted the President of Real
Estate Developers Association of Nigeria
(REDAN), Ugo Chime to have urged the
federal government to redeem its guarantee
on the Series 3 Bond and pay the N24.56 billion
to the note holders.
He added: “On this bond issue, we need
to look at some aspects. Where is the money?
Was it injected into the NHF? This money
should have been used as seed fund to assist
the Federal Mortgage Bank of Nigeria (FMBN)
to make houses more affordable.
“I don’t think that at a time when the
government should be thinking of beefing
up the capital base of FMBN it should be
asking the bank to sell off its assets. It is gross
dereliction of duty to the masses. This entire
controversy is a distraction at this moment.
“The federal government should pay the
money that is due in a few days as this date
has not come to them as a surprise. There are
no assets for the FMBN to sell off to be able
to meet the deadline, even if there were how
many days will it take to do so and meet up
with the deadline?”
Chime said the government has used privatisation
to remove safety nets from the common
man and describes the bond controversy as
another attempt to further make the common
man suffer adding, “People are contributing
2.5 per cent to the National Housing Fund
and over 90 per cent of these people cannot
access the NHF loans due to poor funding
by the same government. Government should
live up to its responsibility as far as this bond
issue is concerned.”
The high level of unsatisfied forex demand in
the interbank market has been highlighted as one
of the problems of current level of divergence
between the official and the parallel market forex
rate. Analysts at FSDH Merchant Bank Limited,
which noted this in their economic and financial
market review for April 2015, released at the
weekend, urged the Monetary Policy Committee
(MPC) to address the situation at its May 2015,
which commences today. This, they noted would
allow the value of the naira trade at its equilibrium
level, “which may mean additional depreciation
in the value of the currency.”
The report however showed that there was a
noticeable temporary appreciation in the value
of the naira at the interbank and parallel market
segments of the forex market in April, due to the
declaration and acceptance of the presidential
elections as the palpable fears about a possible
civil disturbance from the acceptance/rejection
of the results was dissipated.
“However, we note that there has been an
increasing divergence between the inter-bank and
parallel markets in recent time, which could fuel
further speculative and rent seeking behaviour
in the foreign exchange market.
“The CBN is most likely uncomfortable with
the increasing divergence and may introduce additional
administrative foreign exchange measures
to achieve convergence in the foreign exchange
rates between the interbank and parallel markets
at its next MPC meeting in May 2015.
“The average exchange rate at the inter-bank
market appreciated marginally by 0.04 per cent
to stand at N199.12/$1 for the month of April
2015, while at the parallel market it appreciated
by 5.96 per cent to N212.78/$1 in April 2015 from
N225.47/$ in March 2015,” it added.
Furthermore, an analysis of the liquidity situation
in the money market and the fixed income
securities market in April showed there was a
net inflow of about N191.35 billion from various
sources, compared with a net outflow of about
N748.7 billion in March.
“The major outflows in April 2015 were the
open market operations (OMO) of about N933.74
billion, the primary Nigerian treasury bills of
about N353.09 billion, the cash reserve requirement
(CRR) debit of about N150 billion and the bond
auction of about N70 billion.
“Meanwhile, in the month of March 2015 the
major outflow from the market was from the
OMO of about N832.80 billion, the primary NTBs
of about N520 billion, the CRR of about N245.20
billion, and the bond auction of about N91 billion.
“The major inflows into the market in April
were the matured OMO and REPO Bills of N671
billion, the bond maturity of about N535 billion,
the NTBs of about N269 billion, and the Federation
Account Allocation Committee injection of about
N223 billion,” it revealed.
CBN Governor, Godwin Emefiele

THISDAY • MONDAY, MAY 18, 2015
Hill+Knowlton Expands
Operations, Appoints Nigerian MD
International communications
consultancy,
Hill+Knowlton Strategies has
expanded its physical footprint
in Africa with the launch of
a new office in Lagos.
It has also appointed Ms
Tokunboh Durosaro as the
Managing Director of Hill+
Knowlton Strategies Nigeria.
She has over 20 years of
experience in public relations,
branding, marketing
and advertising, locally and
internationally.
The Public Relation agency,
builds on its existing strong
presence in sub-Saharan
Africa and further extends
the agency’s ability to serve
its rapidly expanding client
interests in African countries
in a fully integrated way. The
Hill+Knowlton Strategies
global network consists of
Coscharis Technologies, at
the recently held APC MEA
distributors conference in
Budapest, Hungary, was
recognised with the award of
‘Outstanding Performance’ in
West Africa for 2014.
The award, which was
presented to the Coscharis team
during the conference that had
all major distributors of APC in
the region present, was for the
outstanding performance of the
dealership during the 2014 business
year. The award according to
the APC director who presented
the award, is in recognition of
Coscharis Technologies for the
innovation brought into the business
of distribution, outstanding
sales record and maintenance of
the global standard of handling
the APC brand in the Nigerian
market.
Commenting on the award,
the Managing Director of
Coscharis Technologies,
Mr. Sunday Emomine who
dedicated the award to the
some 88 offices, including
key African markets such as
Egypt, Ghana, Kenya, Rwanda,
South Africa, Tanzania, and
Uganda.
Hill+Knowlton’s entry into
Nigeria reflects a recognition
of the vast economic and commercial
potential of the West
African country, which sits
among the top five investment
countries in Africa, and which
has seen a surge in capital
inflows into the market.
Additional streams for
investment have also opened
up, with the establishment
of fledgling economic sectors
in the Nigerian market.
The growth in investment
and funding for domestic
companies, as well as an
increase in Foreign Direct
Investment (FDI) and joint
ventures in the country, has
Coscharis Technologies
Wins APC Awards Again
company’s loyal customers for
their patronage and acceptance
of the brand with a promise to
continually create more value
in the Information Technology
industry in Nigeria.
According to him, ‘’This
award is dedicated to Almighty
God and our numerous customers
who believe in our
relationship with them and
supported us to actualize
our vision of creating value
that is timeless. This award
will definitely gear us up as
a team to further delight our
esteemed customers and the
new prospects to equally come
and share in the experience of
value creation at all times’’.
Coscharis Technology is a
subsidiary of Coscharis Group,
a wholly owned Nigerian Conglomerate
that has reputation
for representing various iconic
brands that cuts across various
business sectors which impacts
positively in the economy of
the nation.
created an attractive platform
for H+K from which to grow
and develop its client base.
“Global businesses with
long-term growth strategies
are focusing on the African
continent,” said Lars Erik,
Chairman and CEO of
Hill+Knowlton Strategies,
Europe, the Middle East and
Africa. “Nigeria has the largest
economy in Africa, as well as
a population of 170 million
people which is expected to
expand to 200 million by
2019. Hill+Knowlton’s presence
in the Nigerian market
will ensure that businesses
have access to full-service
communication strategies,”
he said.
Hill+Knowlton offers a
full suite of communications
services including corporate
communications, marketing
The Managing Director of
Premium Pension Limited,
Mr. Wilson Ideva has won
the latest edition of the ‘Pension
Man of the Year’ Award
organised by Businesstoday
Online.
The Insurance and Pension
Industry Award, the second in
the series was held recently
at Protea Hotel Ikeja, Lagos.
Receiving the award,Ideva
stated: “ I feel highly elated
at this honour, especially
because it comes from the
media” , the media is an
integral stakeholder in the
pension industry and share in
the successes recorded in the
industry in the past decade.”
According to Ideva, the
media played a prominent
role in the dissipation of
the initial skepticism that
beclouded the Contributory
Pension Scheme at its inception
in Nigeria.
He urged media practitioners
to continue to work
communications, internal
communications, sports
marketing and sponsorship,
digital communications, issues
and crisis consultancy and
public affairs.
Prior to joining
Hill+Knowlton, Durosaro spent
14 years at the integrated energy
group, Oando Plc, where
she was a member of the
Group Leadership Council. In
the course of her 14 year stint
with Oando Plc she was Head
of Corporate Communications
and successfully developed
a comprehensive re-branding
strategy for the smooth execution
of Unipetrol and Agip
re-branding to Oando Plc,
and later became the Chief
Corporate Services Officer.
In 2011, she was responsible
for establishing the Oando
Foundation.
NEW OFFERINGS FROM SAMSUNG
L-R: Head, Consumer Electronics, Mr Parikshit Chandna; Director, Consumer Electronics, Mr. Sunil Kumar; Head of Channel, Consumer
Electronics, Mr. Chukwuma Ofoma and, Business Development Manager, Home Appliances, Mr. Jae Hak Lee, all of Samsung Electronics West
Africa during the media briefing on Samsung AC Technical Forum/launch of Samsung Digital Variable Multi Super system AC and smart inverter
air conditioners in Lagos...recently.
Premium Pension Boss
Wins Award
in tandem with industry
operators if the gains recorded
are to be sustained and the
industry moved to the next
level.”
He dedicated the award
to the entire team, staff,
management and board of
Premium Pension Limited
describing them as the real
award winners.
Speaking at the ceremony,
the Managing Director/CEO
of Businesstoday Online
Nkechi Naeche said the
award, which started a year
ago with the recognition of
two individuals and one
underwriting firm in the
insurance industry has
come to stay. According to
her, efforts were made to
improve the quality and
credibility of the award this
year by involving the public,
agents, brokers, clients and
associates by giving them the
opportunity to select those to
be honoured through votes.
31
APPOINTMENT / AWARDS
Fidson’s MD Wins
2014 Top 25 CEO
Awards
Managing Director, Fidson
Healthcare Plc, Dr Fidelis
Ayebae has emerged one of
the top Chief Executive Officers
of listed companies in
Nigeria at this year’s edition
of BusinessDay Top 25 CEO
Awards for 2014 Financial
Year.
The Fidson boss had earlier
emerged winner of the
2013 edition of the awards,
following his company’s
performance in the capital
market and contributions
to the country’s economy.
Fidson enjoys a reputation
of consistent profit record
and value delivery to its
shareholders and investors.
Its recent revenue growth
and 300 per cent Profit after
Tax (PAT) in 2014 financial
year lend credence to its
growth sustainability. It
may be recalled that in 2013,
the company announced
its full year results with a
turnover increase from N7.2b
to N9.2billion, representing
29 per cent growth
The year on year growth
recorded by Fidson Healthcare
Plc in the last 8 years
has won the company several
awards both locally and
internationally, including
the previous edition of the
BusinessDay Top 25 CEO,
Top 100 Nigerian Companies
and the Nigerian Healthcare
Excellence Awards (NHEA).
The company which prides
itself as a leading player in
the Nigerian pharmaceutical
industry, attributes these
awards to its passion for
excellence, as demonstrated
The Director General,
National Broadcasting Commission,
Mr. Emeka Mba, will
on Wednesday, May 20th,
2015, in Lagos, be decorated
with the Copyright Medal
of Honour. The decoration
will take place at the 5th
Anniversary Celebration of
the approval of Copyright
Society of Nigeria (COSON),
the nation’s sole collective
management organisation for
musical works and sound
recordings.
According to the Chairman
COSON, Mr. Tony Okoroji,
Mba was unanimously chosen
by the COSON Board because
of the historic role played
by him and the Commission
in resolving the over four
decades of raging dispute
between the music and
broadcasting industries in
Nigeria over the payment
of music copyright royalties.
The Copyright Medal
of Honour is the highest
recognition of the music
in its myriad of quality
brands and value offerings.
The managing director
thanked BusinessDay and
organisers of this event for
his recognition. “We believe
this is an acknowledgment of
our commitment to adding
value to the lives of Nigerians
through the provision
of quality healthcare solutions.
As a company, we are
motivated to up our ante
and continue to deliver on
these promises, he said.”
The Top 25 CEO Awards
ceremony is an event organised
by the BusinessDay
Research and Intelligence
Unit that focuses on the
Chief Executives Officers
of companies listed on the
Nigerian Stock Exchange
(NSE), who aroused positive
interests in the Nigerian
capital market, as well as
share price appreciation.
According to the organisers
of the event, the Top 25 CEOs
Awards is meant to appreciate
the contributions of the
25 CEOs who contributed
the most to the growth
of the capital market in a
particular financial year. The
capital market, which is at
the centre of the event plays
a strategic role in economic
development as it provides
the medium for channeling
long term funds into productive
sector of the economy.
Winners of the awards are
selected from over 200 listed
companies on the NSE after
they have successfully met
the criteria set up by the
Awards Committee.
COSON Honours
NBC Boss
industry for any individual
in acknowledgement of that
person’s significant contribution
to the promotion and
defence of the rights of
creative people in Nigeria.
Others to be honoured
include Miliki King, Evangelist
(Dr) Ebenezer Obey
Fabiyi, one time Chairman
of the Nigerian Copyright
Commission (NCC) and also
Chairman of the Nigerian
Association of Recording
Industries (NARI). The name
of the multiple music award
winner, 2 Face Idibia, will
also be entered into the Roll
of Honour. Also on the list
of those to be honoured is
Sasakosa exponent, Prof (Sir)
Victor Uwaifo.
The presentation to Mba
of the Copyright Medal of
Honour will be witnessed
by top names in the music,
movies and broadcasting
industries across Nigeria
at the Lagos Airport Hotel,
Ikeja.

32
BUSINESSWORLD
THISDAY • MONDAY, MAY 18, 2015
INTERVIEW
Sanni: Organisations Need Cost-effective
Solutions for Business Growth
Managing Director, Oracle Nigeria, Adebayo Sanni, spoke with Emma Okonji
on the role of technology solutions in the digital age and the need for organisations
to adopt relevant solutions that will reduce operational costs and drive revenue
growth. Excerpts:
Technology has become the game changer
in the 21st century, what should organisations
do to leverage on relevant technology
solutions in order to catch up with the new
technology trend?
Organisations have a lot to do in adopting
relevant technology solutions for business
growth in the digital age, but the onus is on
Chief Financial Officers (CFOs) and Chief
Information Officers (CIOs) that have to justify
every money spent on business expansion.
The role CFOs has evolved in today’s digital
age, compared to the past years, when their
responsibilities were tied to book keeping. But
in today’s digital age, all that have changed
because the CFO is now at the forefront
of innovation that is driving disruptive
technology. In today’s digital age, technology
plays a critical role in helping CFOs achieve
their new responsibilities of providing and
sporting organistions in such a way that
organisations become more competitive, and
exploring new areas of business. But this is
a task that cannot be achieved by the CFOs
alone, without collaboration with technology
solution company like Oracle. Again, the
roles CFOs and CIOs appear competitive
and demanding and they need collaboration
to succeed, and promote relevant growth in
the organisation.
How exactly will technology help CFOs
and CIOs in their operational tasks?
Technology has a lot to play in the roles of
CFOs and CIOs and I can conveniently say
that financial institutions are already taking
advantage of the opportunities. In Nigeria,
for instance, a lot of banks are beginning
to see the need for big data gathering and
analysis, using technology tools. It helps
them to take informed decisions on how to
move the organisation forward. Data analysis
also helps the organisation to understand
customer behaviour better and know how
best to handle their customers.
What sectors of the Nigerian economy
do you think are benefitting from the use
of technology in this digital age?
For me, I will rank the telecommunications
sector as the most evolving with the use of
technology in driving their business. The truth
of the matter is that technology is driving
every aspect growth in organisations and
these organisations must follow the new
trend in the technology space or risk chances
of going under. So they either innovate or
go into extinction. Another sector that is
using technology to innovate, is the banking
sector, followed by the manufacturing and
distribution sector, and the public sector
as well.
What role will Oracle play to help CFOs
and CIOs accomplish their new tasks?
What is important for the CFOs is that there
is need for acquisition of new talent and skills
in the 21st century. They need to understand
the fundamentals and foundation that will
drive their organisations. The soft skills is
what is important for them to understand
the beauty of technology, and their ability
to analyse data. So based on this, Oracle has
developed several solutions that can help
them read, analyse and implement certain
things that will help them take informed
decision that will drive faster development
in their organisations.
We have solutions like cloud and big data
solutions, and the CFOs and CIOs need to
use these solutions to address current challenges
in their organisations. For example,
Sanni
Facebook, WhatsApp, Twitter, are popular
social media platforms, that do not create
content. They only provide the platform
for people to create their own content and
upload on the platform. So technology solution
company like Oracle is developing solutions
that could best be used to create contents.
The same is applicable to CFOs and CIOs.
We are developing the solutions for them to
leverage their business in today’s digital age.
What security measures has Oracle put in
place to protect organisations’ data, while
deploying Oracle solutions?
Data protection from hacking is an ongoing
process. Our solutions are secured, even
though hackers are always out there to
break security codes and gain unathorised
access to organisations’ data. Our cloud
solution for instance, addresses a whole
lot of security issues.
What is the value for CFOs and CIOs
in embracing new technology solution?
Companies that have adopted technology
solutions have so much to benefit. With the use
of technology, they are able to take informed
decision. They are able to understand the
technology trend, they are able to understand
their customer better and they are able to
analyse data and grow faster in terms of
development. Again, investors are looking
for such companies or start-ups that have
embraced technology, to invest in. New
technology research reveals that companies
that have developed their business models
to leverage technology, are making 80 per
cent more profit than those that have not.
In the area of streamlining enterprises and
innovation drive, we have come to realise
that it is only the organisations who do
this, by using technology solutions, are
experiencing huge cost reduction in their
operations by as much as 36 per cent. So
it helps to drive revenue growth, reduce
cost of running businesses and helps make
organisations to drive innovation and remain
competitive .
What technology model do you recommend
for organisations that focus on driving
innovation in the digital age?
Firstly, they need to understand data
analytics and understand the power of
analysing data with technology solutions.
There is need for re-orientation of staff in
the use of modern technology solutions. To
achieve this, Oracle is currently involved
in teaching new technology curriculum
in tertiary institutions, and this will help
organisations hire the right people with the
requisite skills.
How will technology help organisations
to address financial losses, especially in
the financial sector?
As technology is evolving, the hackers
are also coming up with new ways to break
security codes and steal from organisations.
There is need for training and retraining of
staff. Organisations must grow with technology
change and invest continuously in new
solutions that address financial fraud.
Another sector that is
using technology to
innovate is the banking
sector, followed by the
manufacturing and
distribution sector, and
the public sector as well
CONTINUED NEXT 34

THISDAY MONDAY MAY 18, 2015 33

34
THISDAY • MONDAY, MAY 18, 2015
INTERVIEW
SANNI: ORGANISATIONS NEED COST-EFFECTIVE SOLUTIONS FOR BUSINESS GROWTH
Are companies in Nigeria actually adopting
the cloud computing technology?
Adopting cloud computing is inevitable
for organisations because it is the future for
every organisation. Over time, companies
realise the need to reduce their operational
expenditure (OPEX), based on their capital
expenditure (CAPEX) and this can be achieved
through available technology solutions, and
cloud computing offers such solution. In
fact, cloud computing is one of the five
disruptive solutions in the technology space
and organisations are beginning to adopt
the technology.
Our conversation with customers today
is centred on cloud computing and majority
of them are beginning adopt it. With
cloud computing, we offer our customers
the opportunity of not only allowing their
data to sit in their organisational premises,
but also the opportunity where their data
sits on the Oracle cloud and we manage
their data from the Oracle cloud. So I still
emphasise that cloud is the future and that
is where Oracle is going and that is where
customers are also going.
It is a gradual movement anyway, but we
are helping our customers and partnering
them in developing a roadmap that will
eventually lead them safely to the cloud.
How will you describe the growth of
Enterprise Resource Planning (ERP) in
Nigeria?
Oracle is doing well in the enterprise space
and we are aware that most companies also
play in the enterprise space, using ERP. But
be that as it may, Oracle does not only play
in the enterprise space, as we are also looking
at the Small and Medium Enterprise (SME)
space, and developing solution that they can
afford and utilise. We have ERP in the cloud
and in everywhere, addressing challenges
of big and small organisations. With ERP,
there are lots of scalability that helps to
reduce cost of operations because it is built
on pay-as-yo-go.
As we are driving the ERP, are looking at
market penetration, as well as market share.
One of the biggest Oracle story today is the
ability of Oracle to offer the customer, an
end-end solution, right from application to
Sanni
infrastructure and storage, using ERP, and
that is the value that Oracle is bringing to
the table today, ahead of competition.
Oracle has been in Nigeria for close to
10 years, doing business. How has Oracle
added value to the Nigerian business and
the economy?
Yes, Oracle has been in business in Nigeria
for about 10 years now, but Oracle took
the decision to invest heavily in Africa
two years ago, and since then, there has
been significant investments by Oracle in
the Nigerian technology space. Oracle is
investing in Africa, specifically in Nigeria
and Kenya. We have invested in people,
including staff members, we have invested
in facility and infrastructure and we have
opened our offices in Lagos and Abuja. In
the area of partnership, we are partnering
state governments in the area of staff training,
and we are looking at replicating same at
the federal government level, especially so
that Nigeria will be having a new government
from May 29 this year. We are also
building capacities, by training start-ups
and helping them to develop their ideas
in software development that will address
real societal issues. In the area of education,
Oracle is currently teaching new courses
in Java at some Nigerian Universities and
Polytechnics.
With cloud computing,
we offer our customers
the opportunity of not
only allowing their
data to sit in their
organisational premises,
but also the opportunity
where their data sits on
the Oracle cloud and we
manage their data from
the Oracle cloud
Since Oracle has been partnering state
governments, how has Oracle solution
helped governments in addressing financial
leakages in different ministries?
Oracle, like I earlier said, is partnering
government in different ways. In the area
of blocking financial leakages, our solution
is helping various governments to address
financial losses. For instance, the payroll of the
federal government is sitting on the Oracle
solution, and that has helped government to
to reduce a lot of fraud in the system and
has saved the federal government, billions
of naira, and has also helped in eliminating
ghost workers from the system.
In all of these, what percentage of local
content is Oracle deploying with its
solutions?
Oracle strongly believes in local content
development and our technology suite have
local contents. Our technology partners
have been able to develop Oracle skills and
have over the time, been able to deploy the
skills locally to fit into the local needs of
the people. In addressing technology skills
shortage in Nigeria, some of our partners
have developed Oracle skills, which they
are using to drive businesses locally and
some of them are even exporting the skills
outside Nigeria. We have several home grown
companies that are using Oracle skills to
drive businesses locally.
Infinity Trust Mortgage Bank
Posts N125m Profit
CHESTRAD Plans to Spread
Nigeria’s GDP Growth
Dele Ogbodo
in Abuja
The Chairman, board of
directors of Infinity Trust
Mortgage Bank(ITMB), Dr.
Yinka Bibilari, has stated
that the company made a
totalprofit of N125 million in
its 2014 business operations
which ended December 31.
The gross profit according
to him, translates to cash
dividend of 3kper share for
its shareholders whose names
appears in the books of its
Registrars.
The chairman made the
declaration during the
company’s Annual General
Meeting (AGM), which held
week end in Abuja. By this,
he added that the bank has
again declared a dividend of
3 Kobo for the second year
running as a listed company.
The bank’s 2014 financial
report showed that its gross
earnings rose from N584.3
million in 2013 to N742.99
million in 2014, representing
an increase of 27 percent.
Similarly, its profit after tax
rose from N188.79 million
in 2013 to N244.73 million in
2014 representing a 30 percent
increase.
The company also reported
an increase in earnings per
share by 30 per cent to 5.87
k 2014 from 4.53 k in 2013.
Also the year under review
saw the bank commencing
operations in Lagos with the
establishment ofits Lagos
regional office. This, it said
is in line with its national
mortgage bank status as
recently rated by the Central
Bank of Nigeria (CBN) and
strategic organic growth.
In a remark, the bank’s
Managing Director, Mr. Olabanjo
Obaleye, said the bank
intends to increase its branch
network to major cities in the
country with a view to tapping
into the huge mortgage bank
sector potentials. He added
that there is a huge market
for housing development and
mortgage lending in Nigeria
despite the economic and legal
constraints.
He was optimistic that
the future outlook will see
the bank’s presence across
major cities in Nigeria with
good returns on investment
and positive impact on home
ownership growth in Nigeria.
He revealed that there are
ongoing plans to increase the
bank’s capital by N10 billion.
He said the bank will continue
to drive it business thorough
quality service, innovative
product offering with dedicated
and motivated staff as
well as robust Information and
Communication Technology
(ICT) platform.
According to him, Infinity
Tust mortgage bank maintained
a rating status of short
term A3 and long term BB+
(NG); positive outlook by
Global Credit Ratings (GCR)
for the third successive time
(2012, 2013 and 2014).
A shareholder, Pastor Williams
Adebayo commended
the bank for declaring 3 kobo
dividend despite the operating
harsh condition and also for
creating employment opportunities
for those it employed
in the operating year.
He urged the bank to
tap into the huge window
of financial opportunity of
the Nigerian Mortgage Refinancing
Company (NMRC),
to source for long time loan
at a reduced interest rate.
Eromosele Abiodun
As the deadline for the
millennium development
goals draw closer with
many Nigerians left out of
the reported gross domestic
product(GDP) the Centre
for Health Sciences Training,
Research and Development
(CHESTRAD) International
has announced plans to create
a platform for crowed funding
social development that will
ensure that Nigerians have
access to basic amenities.
CHESTRAD is a global
non-state, not-for-profit social
enterprise established in 1992.
It is registered in Nigeria as
a corporation limited by
Guarantee and is tax-exempt.
In a chat with newsmen in
Lagos, President, CHESTRAD
International, Dr. Oluwafunmilola
Dare, said the initiative
tagged, ‘I Will Give,’ is platform
for organised private giving in
support of social development
and key activities in education,
health, youth development and
women’s empowerment to take
advantage of these resources
and development.
The initiative, she added,
will provide a platform for
private and corporate giving
that has the potential for longterm
impact on development
financing in 21st century Africa.
“It is a platform for crowed
funding social development.
Nigeria has witnessed growth
in the middle class and GDP
but the growth in the economy
and GDP is not trickling dawn.
So we decided to develop
a platform to tap into the
pocket of the rich and create
a domestic financing platform.
We will invite subscriptions
from African middle class,
high net worth individuals,
corporations and public sector
where necessary.
“We will put these resources
together to invest in social
development. It is a combination
of crowed funding and
high impact investment for the
purpose of bridging the gap
between economic and social
development by providing access
to services for the poor,”
Dare said.
CHESTRAD, she added has
been involved in development
for more than 30 years stressing
that it work through the various
stages of development.
She added, “We are in different
phases of development now,
this phase says MDGs ends in
September, it is a reality so we
are crafting a new phase of
development plan. At the time
we are doing this, there are
also economic realities around
the world.
“Our traditional development
partners have their GDP
dropping and are in recession
while we in Africa has seen its
GDP growing and the economy
booming. So the place to be
now is Africa. What we are
going to see is the overseas
development assistance is
going to drop. When this
happens it is going to leave
a lot of gap behind in terms of
where we get money to fund
developmental projects, fund
projects that our development
partners used to do.
“So in the last two years
we have been strategizing
and looking at how we can
bridge the gap in sustainability,
transition and development
continuum. The key question
is how we can transition Africa
from a donor dependent, aid
dependent to a self-reliant
community with its growing
middle class. This is one of the
reasons we are embarking on
this effort.”

THISDAY • MONDAY, MAY 18, 2015
BUSINESSWORLD
Shareholders Hail Nigerian Breweries
for Paying N37.2bn Dividend
Goddy Egene
Shareholders of Nigeria
Breweries Plc last week
commended the company for
its performance in the 2014
financial year and the payment
of N37.205 billion in dividends
for the year.
The shareholders, who spoke
at the company’s 69th annual
general meeting (AGM) in
Lagos, hailed the company’s
management, especially for the
recommendation of a total
dividend of N37.205 billion
, the biggest cash payout in
the history of the company.
The amount translates into
N4.75 per ordinary share of
fifty kobo each.
Speaking at the AGM, Chairman
of Nigerian Breweries,
Chief Kola Jamodu, said the
company had earlier paid an
interim dividend of N9.453
billion, representing N1.25
per ordinary share in October
2014 before a final dividend
of N27.752 billion (N3.50 per
PZ Cussons Nigeria Plc
has signed a Memorandum
of Understanding (MoU)
with the National Office for
Technology Acquisition and
Promotion (NOTAP) to boost
research and technology in
Nigeria.
PZ in a statement issued
to THISDAY said under
the terms of the MoU, the
company has agreed to fund
the upgrade of the chemical
laboratories in two Nigerian
Universities and one Research
Institute while NOTAP will
coordinate the project.
The benefiting institutions
include University of Calabar,
Modibo Adama University
of Technology, Yola and the
National Research Institute for
Chemical Technology, Zaria.
According to the company,
the intervention is borne
share) that was paid to all
shareholders whose names
appear on the company’s
register of members at the
close of business on March
4, 2014.
The ended 2014 with a profit
before tax of N61.4 billion and a
profit after tax of N42.5 billion.
According to Jamodu, the
company was able to return
creditable results for the year
in spite of the challenging
business environment, due
in part to its cost leadership
and innovation agenda.
He explained that synergies
from the recently concluded
merger between the legacy
Nigerian Breweries Plc and
Consolidated Breweries Plc
have positioned the enlarged
company to deliver improved
returns on investments for all
stakeholders of the company.
The Managing Director of Nigerian
Breweries, Mr. Nicolaas
Vervelde had recently assured
stakeholders the company had
been positioned for sustained
out of its concern to fill the
infrastructural gap in Nigeria’s
institutions, pointing out that
the intervention is to assist
the institutions acquire and
install state-of-the-art equipment
to facilitate the conduct
of robust research activities
that will produce high calibre
Research & Development
(R&D) personnel.
Director General, NOTAP,
Dr Umar Bindir, advised that
Nigeria can only develop if
the bulk of research findings
and papers lying in the nation’s
research centres are
put to use in solving our
problems.
He noted that it is
through such partnerships
that Nigeria will be able to
‘transform knowledge into
socio-economic solutions
and assets that will bring
growth and deliver more
returns for its shareholders,
following the successful merger
with Consolidated Breweries
Plc.
According to him, postmerger
Nigerian Breweries will
be able to meet the demands
of a changing Nigerian beer
market, deliver significant cost
and revenue synergies and gain
access to new markets with
broader product offerings,
among other things
Stressing that the company
remained committed to cost
leadership and outperforming
the market, he said through
the elimination of duplication
in its operations and the use
of one management and one
office, and other efforts, the
company would remain true
to its strategies and values.
Stressing that the company
remained committed to cost
leadership and outperforming
the market, he said through
the elimination of duplication
in its operations and the use
about sustained national
development.’
Under the partnership
agreement, PZ Cussons
funding will focus on R&D
activities, development of
Ph.D. holders that will be
part of the institutions’
scholarship pool and forging
viable research projects for
students.
He commended PZ Cussons
for blazing the trail and called
on other companies to emulate
the kind gesture.
In his response on behalf
of the beneficiaries, the Vice
Chancellor, Modibbo Adama
University of Technology, Yola,
Professor Kyari Mohammed
expressed his happiness with
industry/academia collaboration.
He assured the company
that the resources to be
of one management and one
office, and other efforts, the
company would remain true
to its strategies and values.
He explained that the
company embarked on cost
reduction strategies such
as logistic cost and cost of
raw materials to reduce the
impact of unfriendly operating
environment on its operational
performance.
On the company’s outlook
for the year, Vervelde, who
said the economic challenges
of 2014 had persisted into the
first quarter of 2015, said he
was confident that the year
would be positive for the
company.
Nigerian Breweries recorded
a revenue of N266.37 billion
compared with N268.61 billion
achieved in the corresponding
period of 2013. Profit before
dropped to N61.46 billion from
N62.24 billion posted in 2013,
while profit after tax stood at
N42.52 billion against N43.08
billion in 2013.
LUCKY WINNERS
L-R; Omotayo Ogunnaike from Lagoon Secondary school,Lagos; Fatimah Aliyu Gebi of the International Community School, Abuja; Minister of
Communications Technology, Dr Omobola Johnson; and Praise Sanni Adeniyi of the International School Lagos during the presentation of prizes
to winners of an ICT Innovation Competition tagged “’My ICT innovation” to commemorate the international Girls in ICT Day 2015 in Abuja in
Abuja...recently
PZ Cussons, NOTAP Sign MoU to
Boost Research, Technology
expended on the upgrade
will be judiciously applied
and put to utmost use.
The signing ceremony,
which took place at PZ
Cusson’s Head Office, was
attended by management
of the company led by the
Chief Executive Officer, Mr.
Christos Giannopoulos and
representatives of the other
two institutions and other
directors of NOTAP.
PZ Cussons Nigeria PLC
has been in the business of
household goods manufacturing
and at the forefront
of promoting scholarship
in chemical sciences. The
company is the sponsor
of the annual PZ Cussons
Chemistry Challenge that
seeks to promote learning
of Chemistry in secondary
schools.
Chinedu Eze
In furtherance of its commitment
to the development of
education in Nigeria, Sterling
Bank Plc in partnership with
Caleb Group of Schools has
concluded plan to hold the
second edition of the parenting
workshop under the bank’s
‘One Education’ initiative. The
workshop is aimed at educating
parents and guardians on how
to nurture their children and
bring out the best in them.
The event will hold in Lagos
on May 23, 2015. The theme of
the workshop is ‘Enhancing your
child’s capacity for learning’.
The bank in a statement
signed by its Group Head,
Strategy and Communications,
Mr. Shina Atilola described the
parenting series as a family
growth and education initiative
designed to support parents’
desire to optimise the potential
and talents of their children.
He noted that the purpose of
the workshop is to aid parents
and guardians in dealing with
topical issues that affect the
upbringing and training of
their wards in the 21st century
vis-à-vis the practical day-to-day
realities of life in Nigeria.
The bank’s chief strategist
said the involvement of the
3 5
NEWS
African Aviation Experts
Canvass Two Big Airlines
for Nigeria
For its large population
and increasing passenger
traffic, aviation experts who
attended the recent African
Aviation Summit 2015 in
Johannesburg, South Africa,
have proposed that Nigeria
should establish two strong
carriers that could compete
with international airlines
if the country must benefit
from its growing number of
air travellers.
Over four million Nigerian
travel overseas annually and
projections indicate that in few
years this number may increase
to eight million. However, over
94 per cent of these travellers
are airlifted by international
carriers that do not contribute
in any way to the development
of aviation in Nigeria.
Partner, Ernst and Young,
Ethiopia, Mr. Zemedeneh
Negatu said Nigeria must
have to establish at least one
strong national flag carrier
and enforce the merger of
some of the existing ones
in order to have two strong
airlines with high capacity to
meet the growing number of
air travellers and to become
competitive in the international
air transport market.
Negatu recalled that the
defunct Virgin Nigeria, which
the federal government had
an input in was established to
become a very strong Nigeria
carrier but the objective was not
realised because the structuring
of the airline was wrong.
He said that Nigeria should
learn a lesson from that and
now a new administration was
set to take over government,
it would be reasonable for the
country to have two or three
multibillion dollar airlines.
“We don’t expect the Nigerian
government to run those
airlines, but Nigeria deserves to
have at least one national flag
carrier, then support should
be given to Arik and Aero to
become very large carriers
to support Africa’s biggest
economy.
“Somebody with core
competence should be engaged
to manage the airline. Nigeria
should follow the style of the
Asian tigers, but government
must play stronger roles by
deploying funds for the
development of the industry
and also give support to the
establishment of the airlines”,
Negatu said.
But the Legal Advisor, African
Civil Aviation Commission
(AFCAC), Sam Gaya said that
Nigeria could only succeed in
establishing a successful carrier
if government is transparent
and has zero-tolerance to
corruption and impunity,
noting that these elements
brought about the collapse of
the defunct Nigeria Airlines
Limited (NAL) and to some
extent Virgin Nigeria Airways.
“There must be openness,
there must be transparency,
it must follow the Ethiopian
model whereby government
official that needs the service
of the airline will pay for it
in advance. There should be
no interferences,” Gaya said.
The CEO of African Aviation
Services Limited and former
Secretary-General of African
Airlines Association (AFRAA),
Nick Fadugba, said Nigerian
needs a minimum of two major
carriers, adding that Nigerian
airlines must cultivate the habit
of paying their bills on time,
adding that they should pay
for the services rendered by
the aviation agencies, pay the
lessors that leased them aircraft
and others.
Sterling Bank Partners Group
bank in the second edition of
the workshop was informed by
the overwhelming turn-out of
parents who attended the first
edition, adding that the bank will
continue to invest in initiatives
that add value to the lives of
people in line with its purpose.
“The level of attendance
by the parents at the first
workshop exceeded our
projection. The workshop was
well attended by both parents
(fathers and mothers) with their
children. This shows the value
parents place on the workshop
and the need to bring up their
children in a worthy manner,
not only to themselves but
the family and the country
at large. Their contributions
are noteworthy,” he added.
Speaking on the bank’s
involvement in the education
sector, Atilola who assured of
Sterling Bank’s continuos investment
in initiatives aimed at
supporting the sector, added
that the private sector must
come in and invest in the
education sector if “we really
want our children to get quality
education. Sterling Bank’s
intervention in the sector will
help to ameliorate some of the
challenges the sector faces”.

36
MONDAY MAY 18, 2015 THISDAY THISDAY MONDAY MAY 18, 2015
37
Gas to light
up Nigeria
Gas to drive
the economy
Driving and expanding
industrialisation
Seven Energy is an indigenous Nigerian
integrated oil and gas exploration,
development, production and distribution
company, with significant oil and gas
assets and integrated operational gas
infrastructure in the south east of Nigeria.
Our value chain starts from upstream
exploration, appraisal, development and
production assets, to midstream activities
comprising ownership of processing,
distribution infrastructure, marketing and
sales to end users.
Our objective is to be Nigeria’s dominant
integrated gas developer and supplier,
with a reputation for quality and reliability,
operating to the highest safety,
environmental, operational and social
standards.
Valued partnerships
Through our integrated operational gas
infrastructure we are supplying gas to
support delivery of electricity into the
national grid from a number of power
stations. We are delivering a cost effective
and reliable gas supply to Unicem cement
plant in Calabar, Nigeria's third largest
cement manufacturer. Our gas is supplied
as part of the feedstock to Notore fertiliser
plant in Onne. Our gas supply solution to
these industrial customers is having huge
positive impact on their operations.
Ibom Power Station
190MW
Our established relationships with our
partners including our joint venture
partners, contractors and customers are
critical in ensuring the effective delivery
of gas.
Notore fertiliser plant
We are proud that Nigeria is Africa’s
largest economy by GDP and is growing
rapidly. This places huge importance on
the development of our natural
resources, in particular, natural gas.
We aim to continue to develop our
business to achieve our goal of
being the leading supplier of gas
in Nigeria. In doing so, we play
our part in the growing
prosperity of Nigeria, and its
development of a sustainable
and diverse economy.
Uquo gas wells
deliver gas to...
...the Uquo Gas
Processing Facility...
➤
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Uquo oil and
gas reserves
and resources
Future reserves
needed for
continuity and
expansion
Uquo Gas
Processing Facility
200MMscfd
Gas receiving
facility
227 km
gas pipeline
distribution
network
Alaoji Power Station
961MW
Calabar NIPP Power Station
560MW
➤ ➤ ➤
...which is then
transported through
227km of gas pipelines...
...to Nigeria's power
plants that...
MW
MMscfd
NIPP
Seven Energy customer (power station)
Seven Energy customer (industrial)
Megawatt
Million standard cubic feet of gas per day
National Integrated Power Project
Gas receiving
facility
Unicem cement factory
...generate electricity
to drive the economy
➤
www.sevenenergy.com
www.sevenenergy.com

38
BUSINESSWORLD
BPE: Concessioning of Warri Port
B is in Order
John Iwori
Shareholders The Bureau of
Public Enterprises (BPE) has
said the concessioning of the
Warri old port terminal B is on
course, declaring the process
was in order.
According to BPE, the
exercise is being carried out
by the National Council on
Privatisation (NCP).
A statement issued in Abuja
and signed by BPE, Head,
Public Communications, Mr.
Alex Okoh said there was no
truth in the petition written by
a group, which styled itself as
NPA Warri Port Stakeholders
Forum. In the petition, which
was addressed to President
Goodluck Jonathan, the group
said the ongoing concession of
the Warri Old Port Terminal ‘B’
was illegal, even as it alleged
the bureau was working with
the Nigerian Ports Authority
(NPA), Federal Ministry of
Transport (FMoT) and office of
the Vice President to concession
the terminal to ‘their cronies’.
However, BPE said: “Terminal
B was one of the 24
Terminals concessioned by
the BPE in 2006 to Associated
Marine Services (AMS). At the
time of the concession, the
Eromosele Abiodun
The Securities and Exchange
Commission (SEC), apex
regulator of the Nigerian
capital market, is organising
an hour – long lectures on
Investment / Financial / Capital
Market education in the “2015
Batch A Orientation Camps”
of the National Youth Service
Corps (NYSC) in 31 states of
the federation including the
FCT Abuja.
The series, christened “Opportunities
in the Nigerian
Capital Market” will hold
simultaneously in NYSC
orientation camps across the
Terminal was in bad shape and
therefore, it was not possible
for the concessionaire (AMS)
to operate it.
“As a result, AMS was
relocated to Terminal ‘A’ Warri
New Port. During that period,
Terminal ‘B’ Old Port underwent
partial rehabilitation with the
construction of a modern quay
wall/Apron. Thus, on the
recommendation of the NPA
and FMoT, the NCP approved
the re-concession of the partially
rehabilitated Terminal.
“BPE as the implementing
agency of the privatisation
programme of the Federal Government
of Nigeria commenced
the process with placement of
advertisements requesting for
Expressions Of Interest (EOIs)
from interested Bidders in
some selected national dailies,
namely Daily Trust, Guardian,
THISDAY, and Financial Times
on June, 23, 2014.
“The closing date for the
submission of EOIs was indeed
extended by two weeks from
July 22, to August 7, 2014 and
was advertised. After the two
weeks extension, 13 EOIs were
harvested.
“It must be noted that the
‘petitioners’ did not respond to
the adverts which ran for six
country on Thursday,May 21,
2015.
The SEC in a statement said
the exercise is in furtherance
of the market development
critical mandate of the SEC
and is aimed at raising the
bar of capital market awareness
among the vital public that are
members of the NYSC.
The series reflects the strong
emphasis placed on investor
education by the current
leadership of the SEC which
is mirrored in a recent statement
by the DG of the SEC,
Mounir Gwarzo that, “Investor
education will constitute the
fulcrum of the SEC’s market
weeks. Rather they wrote on
September 10, 2014, well after
the adverts had closed and
EOIs harvested, requesting for
inclusion of a company- VINOT
Integrated Services Limited as
part of the bidders.
Continuing, the bureau
said: “BPE responded via a
letter dated November 28,
2014 explaining that it was
impossible to include VINOT
as part of the bidders after the
closure of the advert as doing
so would violate the bidding
process which we the Bureau
had always adopted in line with
international best practices.
“However the BPE advised
that VINOT should await
the next stage in the process
which is the Request for
Proposal (RFP).At this stage,
it is permissible for prequalified
bidders to modify their small
consortium membership and
admit other partners. VINOT
was advised to approach and
negotiate to join any of the
prequalified consortia.
“We wish to further clarify
that NPA is listed in the BPE
Act of 1999 as amended and
therefore NCP/BPE has the full
powers to handle and conclude
the transaction. We also wish to
state that NCP directed the BPE
SEC Takes Investor Education to NYSC
Orientation Camps
development effort.”
According to the commission,
“Thirty one largely middle
level staff of the SEC will
be deployed from the Abuja
corporate headquarters of the
Commission to carry out the
hour - long investment / financial
education / capital market
awareness programme. They
will be complimented by staff
of the SEC who are located in
the Commission’s zonal offices
in different geopolitical zones
of the country.”
SEC explains that the lecture
series is in line with an existing
capital market awareness partnership
between the commission
to handle all enterprises listed
in its Act and NPA is one. BPE,
NPA and FMOT, the supervising
ministry, have the responsibility
to undertake the concession.”
Meanwhile, seven companies
have qualified for Warri
port terminal concessioning
The firms were selected out
of the 13 bidders for expressions
of interest.
Accordingly, they have
been invited as prequalified
prospective concessionaires by
the National Council of Privitisation
(NCP) through the BPE.
The Head of Communication,
Bureau of Public Enterprises,
Mr. Chigbo Anichebe, made
this known in a statement
made available to THISDAY.
It said the seven prequalified
bodies that successfully met
the 70 per cent mark from the
evaluation for the terminal
should be issued with the
request for proposals.
According to the statement,
those who succeed in the bidding
exercise include Transnet
Rosehill Group, Marine
Infrastructure Consortium,
Bright Ocean Integrated Service,
Neon Adani Ports Consortium,
Solent Stevedores International,
Ecomarine Consortium and
Global Infrastructure.
NESG MEETING
L-R: Immediate past Chairman, Nigeria Economic Summit Group (NESG), Foluso Phillips; Chief Executive Officer, Laoye Jayeola; and
Chairman, Kyari Bukar, at the 2014 annual general meeting of NESG in Lagos.... recently
and NYSC on which basis the
Corps extended an invitation
to its ‘2015 Batch A Orientation
Camps’ to the SEC.
“The central theme of the
exercise which is ‘Opportunities
in the Nigerian Capital Market’
will devolve into topics and
subthemes such as The Investor
Protection Role of the SEC in
the Nigerian Capital Market;
Products and Services in the
Capital Market; Advantages of
Collective Investment Schemes
as Investment Vehicles; How to
identify Investment Fraudsters
/ Scammers / Ponzi Schemes;
and Job Opportunities in the
Capital Market,” SEC said.
Nume Ekeghe
Accion Microfinance Bank
Limited said it recorded 60
per cent growth in its 2014
financial year, compared to the
previous year. Also shareholders
of the bank unanimously
endorsed a 10kobo dividend
per share payout declared by
the directors.
These were disclosed at the
bank’s annual general meeting
held in Lagos at the weekend.
The Chairman of Accion
Microfinance Bank, Mr. Patrick
Akinwuntan, while speaking
on the achievements of the
bank in the year under review
said: “In this environment,
Accion Microfinance Bank’s
key performance indicators
remained positive and
commendable as our active
borrowers grew by 58 per
cent from 21,654 in 2013 to
34,245 in December 2014. Our
accounts base increased by 19
per cent from 123,076 to 146,
578 accounts in 2014 while
number of savers grew by 36
per cent from 63,845 in 2013
to 86,655 in December 2014.”
On major achievements
of the bank, he said: “The
bank made a profit after tax
of N622.555 million at the
end of 2014 representing a
60 per cent growth compared
to the same period in 2013.
Shareholders’ funds grew to
N2.6 billion in 2014 from N2
billion in 2013 representing a
27 per cent. growth.
“Compared to December
2013, our total loan portfolio
grew by 3I per cent from
Emma Okonji
Samsung Electronics West
Africa recently launched
the World’s largest capacity
Digital Variable Multi (DVM)
system and smart inverter air
conditioners at forum tagged
‘The Samsung Air-condition
forum’ in Lagos.
The initiative was aimed at
boosting the local industry’s
knowledge of the various
Samsung cooling solutions
available in the Nigerian
market. The forum attracted
about 180 attendees.
Speaking at the forum,
Managing Director, Samsung
Electronics West Africa, Mr.
Brovo Kim, said the Aircondition
(AC) technology
and solutions are evolving at
a rapid rate. The forum, he
stated would bring Samsung
partners up to speed on the
company’s air conditioners,
in Room air conditioner
and System air conditioner
segment.
“We want to keep our
stakeholders abreast of the level
of market research that goes
into designing and producing
Samsung air conditioners and
cooling solutions, which are
especially suitable for Africa
and the Nigerian climate. The
ultimate goal is to provide
dependable cooling to keep
consumers comfortable at all
THISDAY • MONDAY, MAY 18, 2015
NEWS
Accion MFB Records 60%
Growth, Shareholders
Approve 10k Dividend
N3.018 billion in 2013 to N4.028
billion in December 2014. Total
loans disbursed grew by 26
per cent from N7.4 billion in
2013 to N10.3 billion in 2014,
with total loans disbursed from
inception to date closing at
N31.7 billion at the end of
December 2014.”
On Future outlook he said
the bank would commence on
its 5-year Strategic Plan 2015-
2019 to expand geographically
in Nigeria with a variety of
retail channels whilst improving
operational efficiency through
technology.
He added: “With our national
license, we are set to explore
establishment of far reaching
financial inclusion programmes
for micro-entrepreneurs and
low income earners, not just
in Lagos, but in at least 10
States of the Federation and
Abuja. We have identified Port
Harcourt in Rivers State as an
initial location for the establishment
of our first branch outside
of Lagos State and recruitment
in currently ongoing to staff
that branch. It is our intention
that within five years Accion
Microfinance Bank will have
established not only additional
branches but growing its retail
service channels through cash
centres, agents and ATMs and
PoS machines.”
Also speaking at the AGM,
the Managing Director, Accion
Bank, Mrs.Bunmi Lawson
exolained that at the end of
2014, Accion Microfinance Bank
increased its operational branch
network from 19 in 2013 to 23
in Lagos State.
Samsung Launches DVM,
Smart Inverter AC
times,” Kim added.
The highlight of the
forum was the introduction
of Samsung “DVM Super”
system AC, which has the
world’s first and largest single
capacity outdoor of 26HP. It is
credited as the next-generation
modular system in the world of
high-efficiency air conditioning
and has undoubtedly changed
the face of cooling associated
with high-storied buildings.
Samsung has also launched
air conditioners with a five
year warranty on compressors,
keeping in mind the energy
conservation and eco friendly
standards being set in the air
conditioning environment.
These air conditioners come
equipped with R410A gas,
which is, eco-friendly and
Smart Inverter compressors
capable of reducing energy
consumption up to 40 per cent
in line with global standards.
The air conditioners can handle
up to 50mtrs in piping length as
against the conventional 10mtrs.
Samsung air conditioners will
also have a 5 year warranty
period on compressors.
Also speaking at the forum,
Director, Consumer Electronics,
Samsung Electronics West
Africa, Mr. Sunil Kumar, said
Nigerians are astute customers
who are always on the lookout
for the best that advancements
in technology can offer.

THISDAY • MONDAY, MAY 18, 2015
BUSINESSWORLD
39
NEWS
Oracle, MTN Set to Bridge ICT Skills Gap in Nigeria
Emma Okonji
Having identified shortfalls
in skills acquisition in the
area of Information and.
Communications Technology
(ICT) in Nigeria as a threat to
national development, Oracle
Corporation, a technology
solution company and MTN
Foundation (MTNF), the
corporate social investment
vehicle of MTN Nigeria, have
come up with a joint initiative
that will bridge ICT skills gap
in Nigeria.
Both multinational companies
have collaborated to give further
ICT training to select MTNF
scholars. The collaboration
will see two projects come to
fruition: a bursary funded by
Oracle for one student to attend
the European Organisation for
Nuclear Research (CERN)
openlab Summer School in
Switzerland, and plans to train
MTN Invests N11bn
in Projects in
10 Years
MTN Foundation (MTNF),
the Corporate Social Responsibility
vehicle of MTN Nigeria,
has revealed that it invested
N11 billion in 341 project sites
across the six geopolitical
zones of the country in the
past 10 years.
On this note the MTN
Foundation is celebrating
a decade of touching lives
through its hugely impactful
social investments in education,
health, and economic
empowerment. Founded on
the 11th of May, 2005, the
Foundation is funded by up
to one per cent profit after
tax from MTN Nigeria and
has become the leading driver
of social investments.
Chairman, MTN Foundation,
Ambassador Hamzat
Ahmadu, noted that the
successes, which have been
recorded in the last 10 years,
were based on the foundation’s
ability to leverage
on the power of local and
international partners who
were able to bring relevant
knowledge and experience
to the table, to create and
execute sustainable projects
across the country.
“The giant strides made
by the foundation and the
remarkable transformation of
lives seen through the gains
of our various initiatives in
the area of health, education
and economic empowerment
are an eloquent testimony of
how well we have been able
to demonstrate our commitment
to enriching lives and
adding value to the lives of
the citizenry,” Ahmadu said.
Corporate Services Executive
of MTN and Director of
the Foundation, Mr. Wale
Goodluck, expressed delight
at the giant strides made in
the past decade, adding that
corporate social responsibility
is at the core of MTN’s
organisational philosophy.
“We are excited that our
mission to improve the quality
of life in communities
all over the country has
yielded great dividends as
evidenced by the positive
impact our initiatives have
had in helping to reduce
poverty as well as foster
sustainable development in
Nigeria,” Goodluck added.
He pledged that the foundation
would not relent in
its efforts, adding that the
foundation would continue
to seek creative ways to support
and add value to lives
in many more communities.
MTNF educational initiatives
has seen it provide
digital libraries and Information
and Communications
Technology (ICT) laboratories
to universities and secondary
schools, respectively,
across the country while
empowering others with
scholarships in music and
science and technology. Under
its healthcare portfolio, it has
provided mammography
and dialysis machines to
public hospitals across the
country as well as its trailblazing
eyesight restoration
intervention where a lot of
persons have benefited from
free cataract surgeries, eye
glasses and drug packs. Under
its economic empowerment
portfolio, MTNF has carried
out and supported a wide
range of activities designed
to enable job provision, skills
acquisition among other various
stakeholder groups such
as the disabled, widows and
visually impaired students.
In recognition of its positive
contributions, MTNF has
received numerous awards,
including the 3rd CSR Nigeria
Industry Award: Innovative
Partnership Award for Outstanding
Work in Corporate
Social Responsibility and
Creating “Shared Value”;
Advertising Association of
Nigeria (ADVAN) Awards;
Best Corporate Social Responsibility
Company and Sickle
Cell Foundation of Nigeria;
Special Appreciation Award
in recognition of MTNF work
and Support for Sickle Cell
Foundation of Nigeria, among
many others.
up to 2,000 MTNF scholars in
database design and SQL and
Java programming skills.
MTN, in collaboration with
its partner, prepared some select
students from across Nigerian
tertiary institutions to participate
in a global academic competition,
organised yearly by CERN
openlab, where a computer
science student, Mufutau
Akuruyejo, from the University
of Lagos, emerged the best
student from Africa and one
of the best 25 students globally
that have been selected for a
nine week training programme
on ICT in Switzerland.
Akuruyejo, an MTNF scholar,
will be the first Nigerian student
to participate in the nine week
programme, which CERN
openlab runs annually, and
he will be funded by Oracle.
CERN openlab was created
more than 10 years ago to tackle
computing, data, and infrastructure
challenges, and summer
school also focuses certain
research and development
activities in the ICT space.
Corporate Services Executive,
MTN Nigeria, Mr. Akinwale
Goodluck, said: “At MTN, we
believe that education is pivotal
to the growth of any nation,
which is why we are delighted
with this collaboration that will
see Mufutau Akuruyejo, an
MTN Foundation scholar, leave
for Switzerland to participate in
the nine-week CERN openlab
programme.”
Head of CERN openlab,
Alberto Di Meglio, said: “Our
highly competitive student
programme is a cornerstone
of CERN openlab, with the
students bringing new ideas.
This year, we received over
1,500 applications from all over
the globe and have selected
students of the highest possible
caliber. We are very excited to
AGDC, Lagos Govt to Empower 1,100
Entrepreneurs
Emma Okonji
The Afterschool Graduate
Development Centre, a Lagos
based trainer on entrepreneurial
skills, in collaboration with the
Lagos State Government, will
be training 1,100 Nigerian
university graduates on various
entrepreneurial skills.
They will be trained on how
to develop business models
and how to write business
proposals. They will also be
empowered with a start-up
seed fund of N100, 000 each,
that will enable them begin and
further expand their business
plans in the next one year.
Director, AGDC, Mrs. Funmi
Adeyemi, said the training
and empowerment became
be welcoming them to CERN
very soon.”
Country Manager, Oracle
Nigeria, Mr. Adebayo Sanni,
said there was need for Nigeria
to bridge the identified ICT
skills gap in the country and
that the support from Oracle
in funding Akuruyejo to Switzerland
for ICT training, would
assist Nigeria in bridging ICT
skills gap in the country. He
said Oracle has been involved in
several partnerships with state
governments to further drive
technology development across
the country.
The second initiative focuses
on teaching database design and
SQL and Java programming
skills to MTN Foundation
Scholars, using Oracle Academy
curriculum and hosted on-line
learning materials. Students
will be taught by two Oracle
Academy trained faculty from
the Ajayi Crowther University
necessary to help government
address the unemployment
challenge in the country.
According to her, AGDC has
been involved in training of
Nigerian graduates in various
entrepreneurial skills, with
a passion to promote skills
development in the country.
According to her, AGDC
has created a customised and
scalable business execution
curriculum for this year’s
training programme called
Inginte Ideas entrepreneurs,
and has established a fellowship
network, through
Linkedin, a social media
platform. It has also recruited
volunteer business experts to
provide sorcialised mentorship
for targeted demographics
industries and business stages.
and Aived International who
have attended and passed the
formal Oracle Academy faculty
training courses.
Commenting on the Oracle
Academy programme, Goodluck
said it would help to
further boost the ICT skills in
beneficiaries and avail them
of valuable opportunities after
completing the database design
and SQL and Java programming
courses.
According to Sanni, “With the
rapid adoption of technology
in Nigeria, it is imperative that
students are equipped with the
right skills to take advantage
of career and entrepreneurial
opportunities.”
We support the country’s
efforts to undertake a digital
transformation to help secure its
place as a leader in the global
economy, he added.
The MTNF Scholarship
Scheme covers tuition, books
and pocket allowance. It is
renewable provided recipients
maintain a minimum of 3.5
Cumulative Grade Point Average
(CGPA) in their course of
study and an overall 2.5 CGPA.
In 2012, the scholarship was
extended to visually impaired
students in public tertiary
schools across the country
who meet the requirements.
“Corporate social responsibility
is at the core of MTN’s
organizational philosophy and
in a few months, the Foundation
will be celebrating giant
strides it has made in the past
decade. We are excited that
our mission to improve the
quality of life in communities
all over the country has yielded
great dividends as evidenced
by the positive impact our
initiatives have had in helping
to reduce poverty as well as
foster sustainable development
in Nigeria,” Goodluck added.
SET FOR CARD EXPO
L-R: Head, e-banking, Heritage Bank, Mr. Ejike Obianua; Head, Corporate Communication, Nigeria Inter-Bank Settlement System (NIBSS),
Mrs. Lilian Phido; Head, Training, NIBSS, Mr. Tunde Akinwa; General Manager, Intermarc Consulting, Ms. Lilian Ekwedike; and Head, Cards,
Diamond Bank Plc, Mr. Joakhin Iloemezue at a press briefing to announce the CBN Cashless Card Expo 2015 in Lagos...recently
PHOTO: AKINWUNMI IBRAHIM
Adeyemi explained that
AGDC advertised online and
received and received a total
of 2,490 applications, out of
which, 1,121 were completed
applications. The applicants
were screened and 541 were
selected for the first batch
of training and mentorship.
The number of women-owned
businesses that applied, was
284, Adeyemi said, adding that
the business ideas, range from
Technology, Media services,
Art, Fashion and Design, Fast
Moving Consumer Goods,
Agriculture and Farming,
among others.
Commending the AGDC
for the initiative, Lagos State
Governor, Babatunde Fashola,
encouraged the trainees to
make better use of the opportunity
given to them through the
AGDC mentorship programme
and to also make better use of
the seed funds made available
to them. The governor, who
said the older generation had
erroneous belief that university
graduates were not meant to
do dirty jobs, said in today’s
world, the money spinning
businesses are from dirty
jobs. Fashola who categorised
farming as dirty job, said young
university graduates could go
into farming and make the best
out of it, if adequate training
and mentorship are provided.
He encouraged young school
leavers to come up with business
ideas that will not only
fetch them good money, but
will also make them employers
of labour.

40
THISDAY • MONDAY, MAY 18, 2015
NEWS
US-Africa Trade to Promote AGOA
Holds in September
Emma Okonji
Motivated by the need to
help Nigerians stay in touch
with new opportunities
through the internet, MTN
Nigeria, is offering its over
61 million customers with
full month of free downloads
for all Nigerian apps under
the auspices of a movement,
tagged APPtitude.
Its intention is to help Nigerians
embrace mobile applications
as a shortcut to navigating the
internet in an easy, faster and
more efficient manner.
The APPtitude campaign,
which runs from May 1 - 30,
2015, offers Nigerians the
chance to download their
favourite apps for free by
texting APP to 131.
According to MTN, “The
world is changing faster
than we ever imagined some
decades ago. The increased
penetration of technology
NaviGroup Incorporated, a
provider of international trade
networking has said the second
United States Export-Import
Opportunities for African
Consumable Products 2015
Trade Show, which has been
scheduled to hold from
September 8 to 9, 2015, in
Baltimore, Maryland, United
States.
The event is designed to promote
business between Africa
and the Americas through the
AGOA, U.S. Department of
Commerce policies and to
attract foreign direct investors
through Bureau of the African
Affairs policy.
During the 2013, U.S.
Export-Import Opportunities
for African Consumable
Products Trade Show organised
by NaviGroup Incorporated
in Baltimore, the Maryland
Governor, Martin O’Malley,
maintained that doing business
with Nigeria and entire
Africa was very important
to the United States-Africa
community and the United
States-Africa trade, which he
said had grown to $21 billion
in the last decade.
“Therefore we want to
keep up the pace of that by
providing a platform for small
and medium scale businesses,
government trade agencies
and important Small Medium
Enterprises to participate in
the 2nd U.S. Export-Import
Opportunities for African
Consumable Products 2015
event,” said Event Specialist,
NaviGroup, Ayotunde
Adebayo.
According to him, “the
event will provide you with
up-to-date market intelligence
and assist you to develop
international trading practice
strategies for exporting your
products and services into
across the globe especially
through mobile phone has
changed the way we live and
work. Like never before the
adoption of mobile phones
has enhanced in many ways,
economic and social activity
on the continent of Africa
and Nigeria in particular. It
is for this reasons that MTN
introduced the ‘APPtitude’
initiative, as a recent study
shows that 90 per cent of access
to the internet in Nigeria is
done via mobile devices.”
As part of the benefits of the
movement, an APPtitude portal
has been created on the MTN
website, which curates a host of
local apps in the market under
different categories that include
sports, entertainment, lifestyle,
health/fitness, business as well
as religion. The apps can be
downloaded by everyone, free
of charge for 30 days.
Announcing the initiative,
Chief Marketing Officer, MTN
new markets around the
globe. You will also have
the opportunity to meeting
directly with buyers and
sellers from Central America,
Canada, South America,
Europe and the Middle East.”
The event will feature
international business leaders
from private sectors, African
countries commercial services
diplomats posted at their
embassies in the United
States and high ranking
government officials from
both continents.
Professional and wellexperienced
trade finance,
banks, African Union member
countries, trade promotion
organisations, buyers and
sellers, equipment manufacturers,
customs, agricultural
and food products processors,
distributors, wholesalers,
retailers, agricultural and
products. Quality assurance
Nigeria, Bayo Adekanmbi said
many Nigeria-centric websites
are complex with hard-toremember
web addresses, also
known as URLs. He added
that apps provide a better, and
alternative way of engaging
users, irrespective of social
class as their functionality is
defined by the user’s ability to
interact with icons and images.
“This movement is a continuation
of the BetterMe journey
and its core aim is to democratize
access to the internet. The
APPtitude movement is borne
out of the need to educate our
customers on the value which
can be derived from making
use of mobile application in
their everyday business. We
are also driven by the vision
to build an ecosystem that
allows people to pursue their
different passions and interests
by leveraging on the simplicity
which mobile apps provide,”
Adekanmbi said.
organisations are expected to
inform participants about
the latest and future developments
that will impact
where-and how-to develop
new business opportunities
and export strategies abroad.
This event will also provide
unlimited opportunities to
network with industry experts
in international business,
government officials and
other international buyers
and sellers.
Adebayo noted: “By
bringing on international
investors who have forged
successful partnerships in
NaviGroup and showcasing
their personal experiences
and accomplishments, we
are confident and able to
offer attendees excellent and
thorough understanding of
the opportunities available to
develop their business in the
global marketplace.”
RENDERING ACCOUNT
L-R; Chairman, Custodian and Allied Plc, Chief Michael Ade-Ojo; Directors, Mr. Wole Oshin; and Mr Toni Ogunbor, during the 20th annual
general meeting of the company in Lagos.. recently
MTN Provides Free Downloads of all
Nigerian Apps to Customers
In addition, MTN promises
to support app developers,
associations and SMEs in
converting their websites to
mobile applications while
bearing the cost of maintaining
and hosting the apps. As
such local app developers are
encouraged to submit their
apps on the APPtitude portal
even as MTN is committed
to promoting these apps by
providing them with visibility
and reach to its 61 million
subscribers. App developers
who want to upload their apps
on the portal should visit,
http://cp.nexva.com/r/mtn
and follow the steps.
MTN’s commitment to
providing solutions through
the development of mobile
apps is well chronicled. In 2013,
it launched the NextApps store
to boost the aggregation of local
content and later organised an app
developer challenge to support
app development in the country.
Pazino ECC Promises to
Transform Real Estate
Sector
Lagos-based Real Estate
and Engineering Firm, Pazino
Engineering & Construction
Company Limited has said it
is on a mission to transform
Nigeria’s real estate sector to
world class standard by adding
new styles and dimension to
what is currently in existence
in the sector.
Managing Director of Pazino
ECC Ltd, Mr. Patrick Agbaza,
who dropped the hint in Lagos,
said Pazino ECC is set to bring
awareness and transform life
in the areas of construction
and engineering in the real
estate sector by adding facilities
like Aviaries, Play areas, Parks
for both children and adults,
Manicured gardens, Lawns and
landscape areas with sheltered
seating areas.
According to Agbaza, the
practice of real estate business
has transformed tremendously
from what it used to be and
there is need to take advantage
of developments on the global
stage. “At Pazino ECC, we
intend to take real estate from
what it used to be to the next
level in terms of construction
and building type. For instance
we have a lot of estates scheme
we are developing along the
Lekki Epe Express Way which
we prefer to call “Garden
Schemes”. We call them
gardens because our plan is
to build homes surrounded by
greeneries, which we believe
guarantees longevity of the life
span of people living in this
kind of environment.
BlackBerry Limited, a
global leader in mobile communications,
and T-Mobile US
Incorporated, America’s fastest
growing wireless company,
have announced a joint plan
to bring the BlackBerry Classic
to the Un-carrier’s Data Strong
network and its approximately
57 million individual and
business customers.
The initiative, which has
been applauded by industry
analysts, shows that the two
companies are in the business
of listening to their customers,
through the new partnership.
This new partnership begins
by bringing to get her the
productivity and security of
the BlackBerry Classic and
T-Mobile’s industry-rattling
Un-carrier for Business
initiative. Now, whether
you are downloading tomorrow’s
big presentation
or video conferencing with
colleagues on Skype, only
the Un-carrier serves up
the BlackBerry Classic on
America’s fastest nationwide
4G LTE network—giving
US business customers and
today’s data-hungry mobile
professionals the wireless
experience they have been
asking for.
President and CEO of
T-Mobile, John Legere, said:
“People who love BlackBerry
Our garden schemes will
also feature perimeter fencing,
drainages among other things.
All these features we’ve added
will make more people embrace
living in estates” he said.
He said Pazino is determined
to make people understand
why they should invest in real
estate because there are huge
potential for better return on
investment in real estate.
He said: “Other than real
estate, what will you want to
invest in? We want people to
come and invest in real estate.
Some years ago it used to be
shares and all of that, but
with the collapse of shares,
the momentum has swung
back to real estate.
“As a matter of fact, since
2009/2010, the Nigerian real
estate sector has witnessed
resurgence particularly in the
southern part of the country.
According to a report by
Augusto & Co, “real estate
activities in Lagos accounts
for at least 40% of the sum
total of Nigeria’s real estate
market”. Therefore, it pays to
know that the Lekki Peninsula
corridor where we have our
Garden Schemes is the fastest
rising real estate in Africa,”
He lamented that government
has not created the
enabling environment for the
real estate business to thrive.
According to him, government
only pays lip service to the
development of the sector. He
also added that the banks have
not really helped the sector too.
BlackBerry, T-Mobile Team
Up to Bring BlackBerry
Classic
smart phones and want to
use one on America’s fastest
nationwide 4G LTE network
now have that choice. Bringing
BlackBerry into our device lineup
now also stokes Un-carrier
9.0, which is all about bringing
the Un-carrier revolution to
business.”
BlackBerry Executive Chairman
and CEO, John Chen,
said: “BlackBerry is proud to
partner T-Mobile once again to
offer the world’s most secure
and reliable mobile products
and services that encourage
productivity−whether they
are individual users making
the most of their day with
the BlackBerry Classic, or an
enterprise seeking to manage
thousands of devices.”
According to him, “Together
with T-Mobile, we hope to
deliver highly differentiated
solutions that appeal to our
mutual users: the power
professionals who depend
on their smart phones to get
things done and make things
happen.”
The BlackBerry Classic
is built to meet the needs
of productive people who
appreciate the speed and
accuracy that can be found
with a physical QWERTY
keyboard and features such
as a fast browser and up to
22 hours of battery power.

THISDAY • MONDAY, MAY 18, 2015 41
BUSINESSWORLD
NEWS
‘Digital Training key to Active
Participation of Girls in ICT’
Emma Okonji
Phase3 Telecom, an
independent fibre optic
infrastructure and telecommunications
services provider
across West Africa, is advocating
for early education and
consistent technology training
for the girl child in order to
sustain them and make them
active in the Information and
Communications Technology
(ICT) space.
As part of the process to
achieve this, Phase3 said it is
collaborating with eBusiness
Life Communications to mark
the 2015 edition of the globally
celebrated International Girls
in ICT Day.
The Girls in ICT initiative
of the International Telecommunication
Union (ITU), is a
global effort to raise awareness
on empowering and encouraging
girls and young women to
consider studies and careers
in ICTs.
To date over 111,000 girls
and young women have taken
a part in more than 3,500
events held in 140 countries
around the world.
In commemoration of the
2015 Girls in ICT, themed
“Expanding Horizons and
Changing Attitudes”, the
Chief Executive Officer of
Phase3 Telecom, Mr. Stanley
Jegede said early education,
digitalized training as well as
developing technology skills
for women and harnessing
those skills promptly, are
critical to Africa’s rapid socioeconomic
development and
sustainability.
According to him, “One of
the key elements of addressing
poverty is the empowerment
of women and there is no
better way of doing that
than ensuring the sustained
representation of women in
the world of technology to
aid rapid socio-economic
development in Africa”.
He said building a crop of
young African girls to actively
participate and compete in the
evolving as well as innovative
global ICT space, is the basis
for Phase3 Telecom’s commitment
to continue to support
the International Girls in ICT
day initiative.
Jegede said he is optimistic
that this global evolution will
gain greater influence in Africa
as more and more institutions
and agencies advocate ICT skills
for women on the continent. He
believes that “young African
girls must be encouraged early
to see the advantages and
dividends of the dynamic and
fast-evolving-sector”.
He commends eBusiness
Life commitment to the initiative
year-on-year to mentor
and support girls who have
keen interest in walking the
ICT career path whether in
engineering, design, operations
or research. It is notable that
in West Africa, women are
significantly under-represented
across the board in ICT sector,
from education and training
programs right through to
high level careers both in the
academia or industry.
Managing Director of eBusiness
Life Communication, Mrs.
Ufuoma Emuophedaro, said:
“The need to sensitize young
girls is premised on the fact
that society has unconsciously
promoted the stereotypical
ideals that technical discipline
especially ICT based careers
are best suited for the male
gender.”
Glo Bounce Rate
Excites Youths
There are strong indications
that Nigerian youths and student
communities are excited
with Globacom’s repackaged
special tariff plan for youths,
called the Glo Bounce.
They are currently latching
on to the offer, which allows
subscribers to make calls at
a very affordable rate of 11
kobo per second.
In addition to the low call
rate of 11 kobo per second, Glo
Bounce has other interesting
features including “Campus
Zone”, which enables subscribers
to call other lines also at
the rate of 11 kobo per second
once activated.
Subscribers on the platform
also get 15MB of data free for
every recharge of N200 and
above, as well as unlimited,
free SMS.
Globacom’s Regional Chief
Marketing Officer, Mr. Ashok
Israni, said the features have
already endeared Glo Bounce to
the hearts of trend-setting young
individuals in schools and those in
formal or informal employment.
To get on the Bounce
platform, Israni explained
that subscribers would be
required to dial *170*4#. To
opt for Campus Zone, they
are to dial *170*9#.
Hafsat Adejumo, a 200 level
student of University of Ibadan,
said although she has another
line, she uses the Glo line more
these days.
“Since the re-launch of Glo
Bounce last month, I have used
my Glo line nearly exclusively
because of the affordable rate.
My twin sister and younger
brother are all in this school
and we are all on Glo Bounce,
making it possible for us to
communicate with each other
at the cool rate of 11 kobo per
second,” she said.
Similarly, Haruna Ismail, a
400-level student of Bayero
University, Kano, commended
Globacom for introducing
the special tariff package for
Nigerian youths.
“My fiancée and I have used
Glo lines for many years now,
but I didn’t know about Glo
Bounce until she convinced me
to sign up for it so we could
communicate in a more costeffective
manner. I did and I
must say it has been a wise
move. Beside my fiancé, there
are other friends who are also
on the platform. So effectively,
I have been able to reduce my
phone bill.
On his part, Brimo Jack, a
25-year-old, Port Harcourtbased
teacher said he loves
the Generation G component
of the initiative.
“Since I joined the Generation
G, I have enjoyed 200
percent bonus airtime on
every recharge of N500 and
above. Whenever I load N200,
I get 100 percent bonus; and
50 percent bonus when I load
N100. The icing on the cake
is that I can use the bonus to
call any network. This is one
initiative that has helped me to
rein in my phone expenditure.
Kudos to Globacom,” he said.
Also in the same vein,
Chinwe Okechukwu, a final
year Law undergraduate
student of the University of
Nigeria, Nsukka described Glo
Bounce as a well conceived
initiative that is helping to
reduce the phone cost of
young Nigerians in tertiary
institutions.
“I appreciate the free 15MB
of data that Glo gives free of
charge for every recharge of
N200 and above once you are
on the Bounce platform. It’s
enough for me to keep in touch
with my people on Whatsapp,”
she said.
IRWA CONFERENCE
L-R : New Chapter President, International Right of Way Association (IRWA), Mr Eze Odigbo; First Vice President, Mr Charles Ebiai; and New
Secretary, Mrs Akobundu Ken,at the association’s Educational Conference and installatan of new officers in Abuja...recently
Magic Mirror, a New Outdoor Platform
Debuts
A new vista has been opened
in the Nigerian out-of-home
advertising industry with
the introduction of Magic
Mirror advertising option by
Soundz&Meknitz Limited.
The magic mirror, one of the
world’s latest OOH advertising
technologies, is believed to be a
unique innovation in the entire
Sub-Saharan Africa.
Classed under the emerging
media and below the line/indoor
advertising category, it works by
interfacing a specially designed
mirror with an inbuilt LCD video
and audio programme that also
doubles as a viewing mirror.
The TVC is seen playing on the
mirror, with an inbuilt sensor
that squeezes the advert message
to a corner on approach of a
user to present a full mirror and
returns after use.
Speaking on the new innovation,
Managing Director
of Soundz&Meknitz Limited,
Mr Felix Ugbechie said already
his company has been granted
exclusive permit to install the
next generation advertising
technology in all the rest rooms
on all the airport lounges in
Nigeria, a factor he is sure will
give maximum value to Nigerian
advertisers.
Ugbechie said the advertising
medium is unique because it
offers the advertiser the opportunity
to have something
close to personal conversations
with individuals who come in
contact with it.
“The mirror, as simple as it
is, is a very important tool for
managing personal relationships.
We must always go
to the mirror to appreciate
ourselves and determine if we
are looking good enough for
that all important meeting. It
is a personal tool that enables
us to have a conversation with
ourselves before we go out to
meet other people. What we are
doing is take this conversation
even further by enabling brands
to talk to their targets in their
most intimate periods. This is
a period when conversations
are best appreciated and ensure
long lasting retention,” he stated.
Ugbechie explained that the
Magic Mirror advertising has the
distinguishing capability to pass
the message to the personally
and without interruptions and
also overcomes the challenges
of no tune out, trashing or
flipping pages that have been
the disadvantages of electronic
and print media advertising in
recent time.
“The Magic Mirror is like a
welcome companion to the often
disconcerting privacy of the rest
rooms. That is why we say it
holds personal conversations
because advertisers have the
privilege of talking to individuals
in this secluded privacy and
be able to arrest their attention
throughout their stay. This is an
advantage no other form and
medium of advertising can
offer. And it can offer access to
a specific gender pin downs of
messaging with 100% accuracy.
For instance, female toilets
can be loaded with messages
speaking to the female market
and vice versa thereby giving
accurate traffic and exposure
measurement.”
He added that the new
medium is capable of also offers
high brand visibility, with an
estimated average 5,000,000 to
5,500,000 views per month, a
coverage no other medium can
match at same cost.
“The Magic Mirror is the
best channel to help you reach
your marketing priority areas
or audience.It offers a high
definition video and audio
resonance in a casual and
relaxed atmosphere. It offers a
welcome alternative to looking
at a blank wall. Advertisers are
also afforded the opportunity
to put their advert in desired
marketing priority areas at
high traffic time at any of the
locations especially in Public
Private Places.
Mouka’s ‘Mattress Swap’
Campaign Intensifies
Foam manufacturers, Mouka
Limited, has re-introduced the
‘Mattress swap’ campaign to
enable its numerous esteemed
customers and patrons of
other brands alike to exchange
their old mattress for a new
Mouka mattress at an incredible
discount.
The campaign offer, which
kicked off last week and is
expected to run for a period
of one month would be available
to customers in key states
across the country.
According to the National
Business Manager, Mouka
Limited, Mr. Olufemi Asa,
the initiative, which was
first introduced in 2013 was
designed to further entrench
the brands affinity with both
customers and non-customers
by helping them to renew sleep
and comfort.
He said: “As the category
thought leader in the foam
industry in Nigeria and West
Africa as a whole, we started
the initiative to encourage
customers to replace their
old mattress by bringing their
old mattress to get a new one
thereby helping them to renew
the unparalleled comfort offering
of Mouka.”
Fapohunda explained that
there is the need for customers
to change their mattress after
every 4 year which is the Average
life span of a mattress but
many customers are constrained
with the burden of how to
dispose the old mattresses
hence, the Mouka offer.
He stated further that the
initiative gives the customers
the opportunity to own a new
and comfortable mattress at
a discounted price while also
contributing to the environment
by helping customers to dispose
their old mattress which will
be recycled.
Also speaking on the campaign,
the Marketing Manager
of the company, Mr. Olusegun
Ajala noted that the offer is
not limited to brand only as
customers can trade in any
brand of mattress for a new
super comfort Mouka Mattress
of their choice.
He explained that the old
mattress would be weighed
to ascertain the value and
the customers will be given
the discount, which would be
deducted from the value of
any Mouka products of choice.

42
THISDAY • MONDAY, MAY 18, 2015
PRCAN Joins Global
Communication Fold
The Public Relations Consultants
Association (PRCAN),
the umbrella body of PR
consultancy firms operating
in Nigeria, has been admitted
into membership of the
International Communications
Consultancy Organisation
(ICCO).
PRCAN’s admission was
announced by the ICCO Chief
Executive, Francis Ingham, at
the organisation’s bi-annual
Board of Management meeting
which held in Vienna, Austria
recently.
Following PRCAN’s inclusion,
the PRCAN President,
Mr. John Ehiguese, was also
appointed to the board of
management of the organization,
for a maximum tenure
of four years.
With this appointment,
he joins 30 other members
in ICCO’s highest decisionmaking
authority.
Ehiguese said: “I am very
excited at this development,
because it means that Nigerian
PR has finally joined the global
mainstream. ICCO is the largest
global PR body, representing
over 2,000 consultancy firms
from 31 countries. It is heavily
involved in training, events,
industry updates, CMS and
Global reports, areas in which
I believe PRCAN members will
benefit tremendously.
“With my admission to the
Board of ICCO we also now
have a voice on the world
stage. I intend, not only to
be a worthy ambassador of
Nigerian PR practice, but to
also encourage our members to
participate fully in the activities
of ICCO, so that we can bring
ourselves up to speed with
NEWS
current global best practice,
enabling us to attain higher
professional standards and
deliver more value to the
clients we work for”.
ICCO is the voice of PR
consultancies around the
world. Its membership
comprises national trade
associations in 31 countries
across the globe: from Europe,
Africa, Asia, the Americas and
Australasia. Collectively, these
associations represent over
2,000 firms.
It provides a forum for
senior management of the
world’s best PR consultancies
to meet and address issues of
mutual interest and concern.
Members work together to raise
standards of quality, address
ethical issues, harmonize professional
consultancy practice
and share knowledge.
Access Bank Restates Support for
UNICEF Projects
The Executive Director,
Personal Banking, Access
Bank, Mr. Victor Etuokwu, has
restated the bank’s support for
UNICEF projects in Nigeria.
Etuokwu stated this last
week in Lagos while speaking
on the 2015 edition of the
Access Bank-UNICEF Charity
Shield Polo tournament that is
scheduled to hold in Kangimi
Resort, Kaduna, from May 20
to May 31, 2015.
The biggest charity polo
event in Africa will this year,
feature 15 teams vying for
honours in three categories.
He said the bank had
maintained its yearly donation
of N10 million in supporting
UNICEF towards its projects
for orphans and vulnerable
children.
In addition to that, the bank
is continually seeking avenues
through which more resources
can be pooled towards supporting
the children
He said: “We have been
working in Kaduna, in collaboration
with UNICEF to
elevate quality of lives. We
Owners of Diageo Brands,
have introduced a new variant
of Smirnoff, called Smirnoff Ice
Double Black with Guarana.
To create glamour around the
new vodka drink, guests were
welcomed to an unconventional
venue for a party- a thriving
auto workshop turned into a
party venue.
According to the manufacturers,
Smirnoff Ice Guarana
combines refreshing and invigorating
taste of Smirnoff
Vodka blended with Soda
and extracts of Guarana. They
further stated that it joins the
existing Smirnoff family of
Smirnoff Vodka and Smirnoff
Ice Red.
Unveiling the brand, the
Head of Marketing, Spirits
and RTD, Liz Ashdown, said
Guinness Nigeria is driven by
need to do a lot more in
support of these orphans and
vulnerable children to enable
them take tomorrow. We are
hoping to get more children
needing support for instance,
children orphaned by HIV/
AIDS - especially the girl
child into schools” says Jean
Gough, UNICEF Representative
in Nigeria. We have no
doubt created the space for
a lot of them to enjoy their
rights to education through this
partnership, but we aim to seek
more community participation
to achieve greater results,” he
said.
According to him, the Access
Bank-UNICEF Charity Shield
Polo tournament, which is in
its eighth year of Access Bank
sponsorship, is a reaffirmation
of the importance of the lives
of the orphaned and vulnerable
children in northern Nigeria.
Speaking on the tournament,
Fifth Chukker Polo
Captain,Babangida Hassan
said they are proud to continue
in its development of this
established partnership with
innovation and the company
is committed to launching
products that meet more of
their consumers’ needs and
occasions.
“Smirnoff Ice Guarana has
been produced to satisfy the
quest of our younger consumers,
who are of the legal
drinking age and want to make
less obvious choices because
that’s what makes their nights
better and more memorable.
The refreshing taste of this new
Smirnoff variant is the outcome
of an extensive research that
resulted in the right blend
of the best ingredients” Liz
Ashdown said.
Regarding the possibilities of
the new variant putting sales
pressure on the existing variants,
Ashdown explained that “we
have provided consumers with
Access Bank and UNICEF.
He listed the participating
teams to include Deebee Farms,
Akasma, Titans, Trappco
Liberty, Fas Agro Sacks and,
Meridian teams.
Others teams seeking to
win a major prize at this
year’s Access Bank UNICEF
Charity Shield tournament
are Susplan, Maigari Farms,
Sublime, Sultana, Huawei ,
Max Air, Keffi Ponys, Lintex-
Titans and title holders, Fifth
Chukker Access Bank team.
Campaigns for the most
prestigious prize, the Access
Bank Cup and the low-goal
UNICEF Cup promises to be an
exciting experience with Deebee
Farms and Akasma clashing
in a potentiallyexplosive game
of the tournament.
The Access Bank Cup and
the Argentine Ambassador’s
Cup final are scheduled for
May 24, while the Charity
Shield grand finale with the
defending champions, Fifth
Chukker Access Bank aiming
for a fourth straight victory, is
scheduled for May 31.
Diageo Introduces New Variant of
Smirnoff
greater choice and with a drink
that is more relevant for higher
tempo occasions than many
other offerings in the market”.
“The #doubleside idea is the
celebration of an alternative
side of life –be that of places
doubling as something more
epic or oneself that is more
expressive and open to new
experiences. The double
side party brought this to
life through the unexpected
performances and location – an
auto workshop doubling as a
party venue at night” Ashdown
further clarified.
According to the Smirnoff
team, a series of consumer
activities across major cities
have been lined up for the
product launch starting
from July through December
2015.

46
THISDAY • MONDAY, MAY 18, 2015
BUSINESS/MONEYGUIDE
NOIPolls Reveals Increase in Consumer Confidence Index
Obinna Chima
The NOIPolls Limited said
its Consumer Confidence Index
(CCI) for the month of April
increased by 5.2 points to 62.9
points.
The CCI measures consumers’
perception of the economy
and future expectations.
The NOIPolls’ CCI report
showed that all indices of the
CCI experienced an increase
except the Expected Total
Family Income Index, which
declined by 3.6 points.
The two independent variables
of the CCI- the Present Situation
Index (PSI) and Expectation
Index (EI) both experienced
an increase of 6.9 points and
3.9 points respectively.
In February 2014, NOIPolls
Limited introduced its portfolio
of indices; the NOI
Polls Personal Well-Being
Index (PWBI), the NOIPolls
Consumer Confidence Index
(CCI) and the NOIPolls Eagle
30 Business Confidence Index
(EBCI).
“Nigerian businesses,
financial and government
agencies largely depend on
their perceptions and micro
assessment of consumers ‘expectation
in making decisions.
At best, they draw conclusion
on the business environment
based on information from
their immediate surroundings
while the minorities conduct
surveys that are time and
money consuming.
“However, the introduction
of these indices provides
indicators that will ensure
stakeholders can detect
and respond to changes in
consumer behaviour, the
economy, and the business
environment in Nigeria.
Also, the report revealed
that the Current Economic
Situation Index experienced
the highest increase of 15.3
points to stand at 40.3 points
April 2015. This, it stated suggested
an increased confidence
of consumers in the current
economic situation compared
to previous months.
“Expectation of the country’s
economic situation index
–97.80. With an increase of 4.62
points this index stood at 97.8
points in the month of April
2015, the Expectation of the
country’s economic situation
index revealed that consumers
are very optimistic and have
great future expectations for
the country’s economic situation,”
it added.
Commenting on the Current
Employment Condition Index
at 52.38 points, it noted that
consumers were averagely
confident about their current
employment conditions
in April because of the 3.2
points increase recorded in
the month under review.
“Expected Employment
Condition Index at 98.88 points
showing very high optimism
of consumers in their future
employment conditions. The
Current Prices of Goods and
Services Index increased by 2.1
points to stand at 12 points
in April 2015 from 9.9 points
in March 2015.
“With a huge increase by
13.4 points, the Expectation
of Prices of Goods and
Services Index stood at 78.8
points in the month of April
2015, indicating that consumer
expect a decline in the prices
of goods and services. The
Expected Total Family Income
Index declined by 3.6 points
from 63.9 points in March
2015 to 60.2 points in April
2015. Although it implies that
consumers expect their total
family income to be above
average,” it stated.
According to the NOIPolls, the
CCI involved telephone interviews
of a random nationwide
sample of 4,000 selected phone
owning Nigerians aged 18
years and above, representing
the six geopolitical zones in
the country.
FCMB Moves to Retail Banking with New
Campaign
First City Monument Bank
(FCMB) Limited said it has
continued to transform and
position itself as a leading
retail bank in Nigeria with
the launch of its new thematic
campaign tagged: “A World of
Opportunity.” This, the bank
stated followed the recent unveiling
of its refreshed corporate
identity, which it noted had led
to a replacement of its former
colours of black and gold with
a vibrant combination of purple
and yellow that speaks to a
wider audience.
“The thematic campaign,
tied to the refreshed corporate
identity of the Bank, tells
compelling stories of life and
business aspirations of diverse
Nigerians and how FCMB
supports them to bring such
dreams and aspirations to
Heritage Bank Promotes Financial Literacy
among Children
Heritage Bank Limited
has said it is offering school
children across the country an
innovative way to celebrate
this year’s Children’s Day
through its ‘My Day as a
Banker’ experience.
Designed to spice up the
May 27th Children’s Day
celebration with innovative
and fun filled way to experience
the world of bankers, the
bank explained in a statement
at the weekend that its ‘My
Day as a Banker’ would be a
bank-wide activity on Monday
May 25th, where selected
secondary school pupils
would have the opportunity
of handling various banking
roles such as tellers, customer
service associates etc.
Managing Director/Chief
Executive, Heritage Bank,
reality. The campaign tells the
story of the very diverse base
of the customers that FCMB
serves.
The campaign comes in
two television and two radio
commercial versions conveying
FCMB’s delivery of great
customer experience and service
on its channels and electronic
banking platform and how it
enables its customers through
those services to fulfil their life
aspirations. It also showcases
the new warm, friendly, approachable
and energetic brand
identity of FCMB and its values
as a simple, reliable and helpful
bank,” a statement from the
bank added.
Speaking on the campaign,
the Divisional Head, Retail
Banking of FCMB, Mr. Olu
Akanmu, said: “The new FCMB
Mr. Ifie Sekibo described
the planned event as the
demonstration of the bank’s
commitment to innovation.
“Children are very special
to us at Heritage Bank, hence
we decided to celebrate them
in a unique way that offers
opportunity to have fun and
learn about banking. ‘My Day
as a Banker’ is also Heritage
Bank’s unique way of promoting
financial literacy among
children, which is the core
essence of the HB Bud Savings
Account, specially designed to
promote savings habit among
children and youths.
“In addition to the ‘My
Day as a Banker,’ Heritage
Bank has lined up series of
fun filled events to mark the
Children’s Day Celebration.
The events will be anchored
brand thematic campaign tells
the story of the diverse base
of the customers that we serve
at FCMB. It does not matter
where you are, we support you
to fulfil your life and business
aspirations at FCMB.
“Our convenient electronic
banking platforms and best-inclass
relationship management
deliver great experience to our
customers as we support them
to achieve their great dreams
for themselves, their families
and their businesses.”
Akanmu also reiterated that
“Nigerians are aspirational and
hardworking people. FCMB
is the bank for all Nigerians,
walking with them as a partner
to fulfil their life and business
aspirations in the true spirit
of its brand pay-off line of
“FCMB- My Bank and I”.
by the Heritage Bank Financial
Literacy Brand Ambassador,
Zuriel Oduwole, the youngest
child to have interviewed nine
incumbent presidents,” he
explained.
The event, according to
bank include Treasure Hunt
at School on May 20th and at
the bank on May 22nd, during
which pupils are expected to
locate their fairy godparents
from clues designed for
them and get a ticket to the
Children’s Day carnival.
“In line with its mission to
create, preserve and transfer
wealth across generations,
Heritage Bank developed
the HB Bud Savings Account,
to help its customers create
wealth for their children,
and provide them a future
of financial independence.
MARKET INDICATORS
MONEY AND CREDIT STATISTICS (MILLION NAIRA)
NOVEMBER 2014
Broad Money (M2) 16,696,663.77
-- Narrow Money (M1) 6,678,249.30
---- Currency Outside Banks 1,231,005.96
---- Demand Deposits 5,447,243.34
-- Quasi Money 10,018,414.47
Net Foreign Assets (NFA) 7,183,427.14
Net Domestic Assets(NDA) 9,513,236.63
-- Net Domestic Credit (NDC) 16,353,454.75
---- Credit to Government (Net) -1,755,121.92
---- Memo: Credit to Govt. (Net) less FMA 419,550.98
---- Memo: Fed. and Mirror Accounts (FMA) -2,174,672.91
---- Credit to Private Sector (CPS) 18,108,576.68
--Other Assets Net -6,840,218.12
Reserve Money (Base Money) 5,068,556.90
--Currency in Circulation 1,577,889.36
--Banks Reserves 3,490,667.54
MANAGED FUNDS
Initial Price (N) Buying Price(N) Selling Price
Stanbic Balanced Fund 1,660.29 1,685.29
Stanbic IBTC NEF 1,000.00 11,002.32 11,326.67.11
Stanbic SIBond 20 120.47 120.47
Stanbic IBTC Ethical 1 1.10 1.13
Stanbic IBTC GIF 142.90 143.38
UBA Balanced Fund 1.2563 1.2493
UBA Bond Fund 1.3443 1.3443
UBA Equity Fund 0.8205 0.8074
UBA Money Market Fund 1.1510 1.1510
ARM Aggressive Growth Fund N14.3777 N14.8112
ARM Discovery Fund N301.2462 N310.3290
ARM Ethical Fund N22.8452 N23.5340
ARM Money Market Fund 13.4478 (Yield % )
OPEC DAILY BASKET PRICE AS AT MARCH 3, 2015
• Source - CBN
• Monetary Policy Rate - 13%
The price of OPEC basket of twelve crudes stood at 56.93 dollars a barrel on Monday, compared
with $56.83 the previous Friday, according to OPEC Secretariat calculations.
The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend
(Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light
(Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab
Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
SOURCE: OPEC headquarters, Vienna

THISDAY • MONDAY, MAY 18, 2015 47
MARKET NEWS
VG30 ETF Makes Final Distribution to Unit Holders
Goddy Egene and
Eromosele Abiodun
The Vetiva Griffin 30 Exchange
Traded Fund (VG30
ETF) will on June 1, make a
final distribution (dividend) of
10 kobo to unit holders for
the year ended December 31,
2014. According to the fund
managers, the unit holders to
benefit are those whose names
would be on the register as
at 5.00 p.m. on May 28. The
fund had last year made an
interim distribution of 10
kobo. The VG30 ETF is the
first equity-based ETF to be
listed on the Nigerian bourse.
It is designed to track the
performance of the constituent
companies of the NSE 30 Index
and to replicate the price and
yield performance of the Index.
The NSE 30 Index comprises
the top 30 companies in terms
of market capitalisation.
The fund managers said:
“To enable our transfer agent
(Central Securities Clearing
System Plc), prepare for the
payment of the final distribution
the ETF’s register of unit
holders will be cc,owed by 5
p.m on May 2015.”
VG30 ETF was listed following
a successful completion
of its Initial Public Offering ,
which Cordros Capital Limited
handled as the issuing house.
Managing Director of Vetiva
Fund Managers Limited, the
fund manager, of VG30 ETF,
Mr. Damilola Ajayi, had
explained that the fund was
developed in line with the
growing ETF industry to give
investors optimal exposure to
the Nigerian bourse by tracking
the movement of the NSE 30
index.
“The NSE30 Index securities
represents a convenient investment
vehicle for exposure to
the Nigerian equities market
via a single security,” he said.
Also, the Managing Director
of Cordros Capital Limited,
Mr. Wale Agbeyangi, said the
ETF represents yet another
milestone by Vetiva in its
commitment to the deepening
of the Nigerian capital market
via the listing of new and
innovative products.
Speaking on the new ETF,
the NSE’s Product Lead for
ETFs, Mr Osahon Aire, had
said ETFs are essentially
index funds that are listed
and traded on the exchange
like shares.
THE NIGERIAN STOCK EXCHANGE
MAIN BOARD DEALS MARKET
PRICE
QUANTITY
TRADED
VA L U E T R ADED
( N )
Daily Summary (Bonds)
Activity Summary on Board DEBT
Federal
Bond Name No. of Deals Current Price Quantity Traded Value Traded
13.05% FGN AUG 2016 2 102.6 800 831,676.24
15.10% FGN APR 2017 1 107 300 321,124.07
16.00% FGN JUN 2019 2 111.5 2,500 2,919,368.14
16.39% FGN JAN 2022 1 115.5 1,550 1,854,115.24
Federal Totals 6 5150 5,926,283.69
DEBT Board Totals 6 5,150 5,926,283.69
Bond Activity Totals 6 5150 5,926,283.69
Daily Summary (Equities)
Activity Summary on Board EQTY
AGRICULTURE
Crop Production No. of Deals Current Price Quantity Traded Value Traded
FTN COCOA PROCESSORS PLC 3 0.5 55,000 27,500.00
OKOMU OIL PALM PLC. 41 27.3 2,887,670 78,584,886.06
PRESCO PLC 13 26 75,820 2,043,698.60
Crop Production Totals 57 3,018,490 80,656,084.66
Livestock/Animal Specialties No. of Deals Current Price Quantity Traded Value Traded
LIVESTOCK FEEDS PLC. 51 2.31 1,663,052 4,054,133.02
Livestock/Animal Specialties Totals 51 1,663,052 4,054,133.02
AGRICULTURE Totals 108 4,681,542 84,710,217.68
CONGLOMERATES
Diversified Industries No. of Deals Current Price Quantity Traded Value Traded
A.G. LEVENTIS NIGERIA PLC. 4 1.55 203,280 315,114.00
JOHN HOLT PLC. 1 0.94 100 90
TRANSNATIONAL CORPORATION OF NIGERIA PLC 175 3.2 13,551,832 43,339,334.06
U A C N PLC. 68 40 14,654,636 586,184,722.88
Diversified Industries Totals 248 28,409,848 629,839,260.94
CONGLOMERATES Totals 248 28,409,848 629,839,260.94
CONSTRUCTION/REAL ESTATE
Building Structure/Completion/Other No. of Deals Current Price Quantity Traded Value Traded
COSTAIN (W A) PLC. 15 0.84 422,595 362,049.05
Building Structure/Completion/Other Totals 15 422,595 362,049.05
Infrastructure/Heavy Construction No. of Deals Current Price Quantity Traded Value Traded
JULIUS BERGER NIG. PLC. 5 51.7 49,675 2,521,861.25
Infrastructure/Heavy Construction Totals 5 49,675 2,521,861.25
Real Estate Development No. of Deals Current Price Quantity Traded Value Traded
UACN PROPERTY DEVELOPMENT CO. LIMITED 24 11.75 1,132,737 13,091,192.94
Real Estate Development Totals 24 1,132,737 13,091,192.94
Real Estate Investment Trusts (REITs) No. of Deals Current Price Quantity Traded Value Traded
UPDC REAL ESTATE INVESTMENT TRUST 2 10 110,000 1,100,000.00
Real Estate Investment Trusts (REITs) Totals 2 110,000 1,100,000.00
CONSTRUCTION/REAL ESTATE Totals 46 1,715,007 17,075,103.24
CONSUMER GOODS
Automobiles/Auto Parts No. of Deals Current Price Quantity Traded Value Traded
DN TYRE & RUBBER PLC 1 0.5 21,000 10,500.00
Automobiles/Auto Parts Totals 1 21,000 10,500.00
Beverages--Brewers/Distillers No. of Deals Current Price Quantity Traded Value Traded
CHAMPION BREW. PLC. 24 7.54 859,346 6,482,586.64
GUINNESS NIG PLC 34 168 50,733 8,203,718.95
INTERNATIONAL BREWERIES PLC. 8 21.7 5,960 129,815.70
NIGERIAN BREW. PLC. 131 151 3,114,328 470,529,265.37
Beverages--Brewers/Distillers Totals 197 4,030,367 485,345,386.66
Beverages--Non-Alcoholic No. of Deals Current Price Quantity Traded Value Traded
7-UP BOTTLING COMP. PLC. 32 178 57,713 10,019,008.50
Beverages--Non-Alcoholic Totals 32 57,713 10,019,008.50
Food Products No. of Deals Current Price Quantity Traded Value Traded
DANGOTE FLOUR MILLS PLC 71 4.85 2,242,510 10,908,085.77
DANGOTE SUGAR REFINERY PLC 116 7.23 3,807,477 27,646,704.27
FLOUR MILLS NIG. PLC. 106 36.99 2,027,051 74,091,603.49
HONEYWELL FLOUR MILL PLC 23 3.4 356,113 1,202,372.98
NATIONAL SALT CO. NIG. PLC 71 8.6 1,664,500 14,493,250.32
Food Products Totals 387 10,097,651 128,342,016.83
Food Products--Diversified No. of Deals Current Price Quantity Traded Value Traded
CADBURY NIGERIA PLC. 24 40 202,490 8,237,044.00
NESTLE NIGERIA PLC. 58 948 99,786 94,405,761.97
Food Products--Diversified Totals 82 302,276 102,642,805.97
Household Durables No. of Deals Current Price Quantity Traded Value Traded
VITAFOAM NIG PLC. 39 4.4 1,784,134 7,627,429.02
VONO PRODUCTS PLC. 1 1.08 20,234 20,841.02
Household Durables Totals 40 1,804,368 7,648,270.04
Personal/Household Products No. of Deals Current Price Quantity Traded Value Traded
P Z CUSSONS NIGERIA PLC. 41 31.23 327,885 9,982,223.77
UNILEVER NIGERIA PLC. 49 40 751,705 29,435,862.91
Personal/Household Products Totals 90 1,079,590 39,418,086.68
CONSUMER GOODS Totals 829 17,392,965 773,426,074.68
FINANCIAL SERVICES
Banking No. of Deals Current Price Quantity Traded Value Traded
ACCESS BANK PLC. 178 6.31 10,455,582 66,527,145.52
DIAMOND BANK PLC 60 4.69 21,491,046 97,891,669.39
ECOBANK TRANSNATIONAL INCORPORATED 53 20.5 11,967,938 242,835,773.25
FIDELITY BANK PLC 100 1.9 11,407,768 21,972,835.81
GUARANTY TRUST BANK PLC. 242 28.11 19,928,564 560,024,461.25
SKYE BANK PLC 92 2.68 3,753,220 9,926,167.34
STERLING BANK PLC. 67 2.36 26,734,987 63,790,172.12
UNITED BANK FOR AFRICA PLC 392 5.32 80,015,544 428,476,337.16
UNION BANK NIG.PLC. 47 11.02 624,132 6,967,561.57
WEMA BANK PLC. 12 0.96 61,118 57,967.07
ZENITH INTERNATIONAL BANK PLC 212 22 14,368,245 315,986,528.41
Banking Totals 1,455 200,808,144 1,814,456,618.89
Insurance Carriers, Brokers and Services No. of Deals Current Price Quantity Traded Value Traded
AFRICAN ALLIANCE INSURANCE COMPANY PLC 1 0.5 200 100
AIICO INSURANCE PLC. 66 1.14 5,886,111 6,400,702.26
CONTINENTAL REINSURANCE PLC 33 0.88 10,527,802 9,284,541.12
GREAT NIGERIAN INSURANCE PLC 1 0.5 1,000 500
INTERNATIONAL ENERGY INSURANCE COMPANY PLC 10 0.5 55,477,741 27,738,870.50
LINKAGE ASSURANCE PLC 21 0.5 1,502,554 751,277.00
MANSARD INSURANCE PLC 4 3.19 8,600 26,750.00
MUTUAL BENEFITS ASSURANCE PLC. 1 0.5 1,000 500
N.E.M INSURANCE CO (NIG) PLC. 10 0.69 376,000 258,890.00
STANDARD TRUST ASSURANCE PLC 1 0.5 11,500 5,750.00
STANDARD ALLIANCE INSURANCE PLC. 2 0.5 43,200 21,600.00
WAPIC INSURANCE PLC 66 0.55 11,385,522 6,176,617.35
Insurance Carriers, Brokers and Services Totals 216 85,221,230 50,666,098.23
Micro-Finance Banks No. of Deals Current Price Quantity Traded Value Traded
NPF MICROFINANCE BANK PLC 89 1.39 7,280,189 10,119,427.71
Micro-Finance Banks Totals 89 7,280,189 10,119,427.71
Mortgage Carriers, Brokers and Services No. of Deals Current Price Quantity Traded Value Traded
ASO SAVINGS AND LOANS PLC 1 0.5 280 140
Mortgage Carriers, Brokers and Services Totals 1 280 140
Other Financial Institutions No. of Deals Current Price Quantity Traded Value Traded
MAIN BOARD DEALS MARKET
PRICE
QUANTITY
TRADED
VA L U E T R ADED
( N )
AFRICA PRUDENTIAL REGISTRARS PLC 36 2.74 311,503 857,973.04
CUSTODIAN AND ALLIED PLC 12 3.95 1,331,192 5,323,893.60
FBN HOLDINGS PLC 537 10.5 30,883,594 318,833,328.87
FCMB GROUP PLC. 158 3.37 16,974,649 56,113,048.13
ROYAL EXCHANGE PLC. 5 0.55 687,000 382,320.00
STANBIC IBTC HOLDINGS PLC 35 28.65 520,355 14,718,037.62
UBA CAPITAL PLC 113 1.48 7,625,968 11,472,478.85
Other Financial Institutions Totals 896 58,334,261 407,701,080.11
FINANCIAL SERVICES Totals 2,657 351,644,104 2,282,943,364.94
HEALTHCARE
Pharmaceuticals No. of Deals Current Price Quantity Traded Value Traded
EVANS MEDICAL PLC. 5 1.99 40,000 76,000.00
FIDSON HEALTHCARE PLC 11 3.35 171,600 556,811.00
GLAXO SMITHKLINE CONSUMER NIG. PLC. 42 53.45 148,231 7,629,958.95
MAY & BAKER NIGERIA PLC. 15 1.8 352,825 647,435.43
NEIMETH INTERNATIONAL PHARMACEUTICALS PLC 15 1.13 177,028 206,276.82
Pharmaceuticals Totals 88 889,684 9,116,482.20
HEALTHCARE Totals 88 889,684 9,116,482.20
ICT
Computer Based Systems No. of Deals Current Price Quantity Traded Value Traded
COURTEVILLE BUSINESS SOLUTIONS PLC 1 0.5 11,111 5,555.50
Computer Based Systems Totals 1 11,111 5,555.50
Processing Systems No. of Deals Current Price Quantity Traded Value Traded
CHAMS PLC 4 0.5 9,671,542 4,835,771.00
Processing Systems Totals 4 9,671,542 4,835,771.00
ICT Totals 5 9,682,653 4,841,326.50
INDUSTRIAL GOODS
Building Materials No. of Deals Current Price Quantity Traded Value Traded
AFRICAN PAINTS (NIGERIA) PLC. 1 2.72 200 518
ASHAKA CEM PLC 15 20.57 111,627 2,198,280.47
BERGER PAINTS PLC 22 9.99 452,855 4,512,991.51
CAP PLC 13 35.66 19,819 752,522.00
CEMENT CO. OF NORTH.NIG. PLC 7 11.59 10,534 116,247.81
DANGOTE CEMENT PLC 13 175 37,908 6,627,514.25
DN MEYER PLC. 1 0.83 1,000 850
PORTLAND PAINTS & PRODUCTS NIGERIA PLC 6 3.84 66,710 267,320.10
LAFARGE AFRICA PLC. 34 93 466,503 43,263,069.24
Building Materials Totals 112 1,167,156 57,739,313.38
Electronic and Electrical Products No. of Deals Current Price Quantity Traded Value Traded
CUTIX PLC. 9 1.74 39,953 70,061.69
Electronic and Electrical Products Totals 9 39,953 70,061.69
Packaging/Containers No. of Deals Current Price Quantity Traded Value Traded
BETA GLASS CO PLC. 1 28.7 200 5,760.00
Packaging/Containers Totals 1 200 5,760.00
INDUSTRIAL GOODS Totals 122 1,207,309 57,815,135.07
NATURAL RESOURCES
Chemicals No. of Deals Current Price Quantity Traded Value Traded
B.O.C. GASES PLC. 3 5.21 13,000 63,342.00
Chemicals Totals 3 13,000 63,342.00
NATURAL RESOURCES Totals 3 13,000 63,342.00
OIL AND GAS
Energy Equipment and Services No. of Deals Current Price Quantity Traded Value Traded
JAPAUL OIL & MARITIME SERVICES PLC 6 0.5 72,100 36,050.00
Energy Equipment and Services Totals 6 72,100 36,050.00
Integrated Oil and Gas Services No. of Deals Current Price Quantity Traded Value Traded
OANDO PLC 368 19.6 9,116,870 179,927,083.22
Integrated Oil and Gas Services Totals 368 9,116,870 179,927,083.22
Petroleum and Petroleum Products Distributors No. of Deals Current Price Quantity Traded Value Traded
CONOIL PLC 20 36.21 202,088 7,345,000.63
ETERNA PLC. 13 2.9 193,944 564,037.60
FORTE OIL PLC. 33 197.6 136,252 26,964,358.16
MOBIL OIL NIG PLC. 15 152.05 27,224 4,244,083.25
TOTAL NIGERIA PLC. 12 162.45 102,170 16,602,165.94
Petroleum and Petroleum Products Distributors Totals 93 661,678 55,719,645.58
Exploration and Production No. of Deals Current Price Quantity Traded Value Traded
SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD 12 398 103,205 41,046,968.00
Exploration and Production Totals 12 103,205 41,046,968.00
OIL AND GAS Totals 479 9,953,853 276,729,746.80
SERVICES
Automobile/Auto Part Retailers No. of Deals Current Price Quantity Traded Value Traded
R T BRISCOE PLC. 6 1.01 140,597 141,141.03
Automobile/Auto Part Retailers Totals 6 140,597 141,141.03
Courier/Freight/Delivery No. of Deals Current Price Quantity Traded Value Traded
RED STAR EXPRESS PLC 4 3.6 15,151 57,270.78
TRANS-NATIONWIDE EXPRESS PLC. 21 1.17 822,600 932,595.00
Courier/Freight/Delivery Totals 25 837,751 989,865.78
Employment Solutions No. of Deals Current Price Quantity Traded Value Traded
C & I LEASING PLC. 6 0.52 293,646 152,507.92
Employment Solutions Totals 6 293,646 152,507.92
Hotels/Lodging No. of Deals Current Price Quantity Traded Value Traded
IKEJA HOTEL PLC 5 3.78 138,500 527,010.00
TRANSCORP HOTELS PLC 6 9.63 6,900 65,022.00
Hotels/Lodging Totals 11 145,400 592,032.00
Media/Entertainment No. of Deals Current Price Quantity Traded Value Traded
DAAR COMMUNICATIONS PLC 3 0.5 150,000 75,000.00
Media/Entertainment Totals 3 150,000 75,000.00
Printing/Publishing No. of Deals Current Price Quantity Traded Value Traded
LEARN AFRICA PLC 1 1.5 1,000 1,480.00
UNIVERSITY PRESS PLC. 1 4.7 10 48.9
Printing/Publishing Totals 2 1,010 1,528.90
Road Transportation No. of Deals Current Price Quantity Traded Value Traded
ASSOCIATED BUS COMPANY PLC 8 0.58 261,660 151,762.80
Road Transportation Totals 8 261,660 151,762.80
Transport-Related Services No. of Deals Current Price Quantity Traded Value Traded
AIRLINE SERVICES AND LOGISTICS PLC 2 2.2 5,000 10,450.00
NIGERIAN AVIATION HANDLING COMPANY PLC 36 6.5 645,452 4,086,317.26
Transport-Related Services Totals 38 650,452 4,096,767.26
Support and Logistics No. of Deals Current Price Quantity Traded Value Traded
CAVERTON OFFSHORE SUPPORT GRP PLC 7 3 1,032,646 3,095,317.40
Support and Logistics Totals 7 1,032,646 3,095,317.40
SERVICES Totals 106 3,513,162 9,295,923.09
EQTY Board Totals 4,691 429,103,127 4,145,855,977.14
Equity Activity Totals 4,691 429,103,127 4,145,855,977.14
Daily Summary (ETP)
Exchange Traded Fund
Name No. of Deals Current Price Quantity Traded Value Traded
LOTUS HALAL EQUITY ETF 1 10.63 20 212.6
NEWGOLD EXCHANGE TRADED FUND (ETF) 2 2,321.00 121 280,022.00
STANBIC IBTC ETF 30 2 107.95 20,000 2,159,000.00
VETIVA GRIFFIN 30 ETF 8 15.82 17,488 276,355.26
Exchange Traded Fund Totals 13 37,629 2,715,589.86
ETF Board Totals 13 37,629 2,715,589.86
ETP Activity Totals 13 37,629 2,715,589.86

Friday, May 1,
48 MONDAY 2015 www.theunion.com.ng
The UNION MAY 18, 2015 THISDAY 3
Congratulations
The board, management and staff of Mainland Oil & Gas Limited
heartily felicitate with Mr. Solomon Arase on his appointment and
confirmation as Inspector General Of Police, Federal Republic of Nigeria.
Sir, your vast experience, diligence, integrity and patriotism stand you out for
great responsibilities.
SOLOMON ARASE
INSPECTOR-GENERAL OF POLICE
Mainland Oil & Gas Co. Ltd.
A Subsidiary of Chrisnak Group
Website: wwww.mainlandoil.com
...Providing Energy for Development
Signed:
Prince Chris O. Igwe
MD/CEO

THISDAY MONDAY MAY 18, 2015 49

50 THISDAY • MONDAY, MAY 18, 2015
CITYSTRINGS
Features Editor Adeola Akinremi
Email adeola.akinremi@thisdaylive.com
High Flyers
Chiemelie Ezeobi writes on a new breed
of young, budding high flyers whose
passions know no bounds
The time was 3.14pm on a certain
Monday. The venue was the
hangar of International Helicopter
Flying School (IHFS), Emene,
Enugu. Under the blistering sun
was the maestro, Group Captain
Ayo Jolasinmi and his student- Edet Okon.
No, they were not part of the new order
that worships the sun. The reason for their
outdoor presence was not far-fetched. It was
time for practice.
And so they boarded the helicopter as
co-pilot and pilot. The student alongside his
instructor after following the ground safety
rules took off from the runway of the Enugu
International Airport, with this reporter as a
passenger.
Round and round the helicopter flew,
circling the airport three times. The silence
in the helicopter was intermittently broken
by the static and air waves emanating from
the earpiece and interjection of soft corrections
from the teacher to the student.
Soon enough, both the rector and this journalist
got down and the student took off on his
solo flight. With arms of steel sharpened by
his desire to be the best he can, he steered the
helicopter and was soon soaring in the skies.
Okon is merely one of the numerous
students (presently 23 students and 43 past
grandaunts) that attend the IHFS to harness
and nurture their dreams of soaring the skies
as a helicopter pilot.
For such students, their attraction to flying
borders in between soaring with the elements
and enjoying the abundant opportunity flying
offers.
Jolasinmi, who also doubles as the rector
of the school, totally agrees with this. With
a smile playing on his lips he said: “Flying
is a magnificent job. It’s one job that brings
out the real you and demands all from you.
“Especially flying helicopters brings you
close to nature. It’s a versatile flying unlike
the fixed wings (aircrafts and aeroplanes).
“With the helicopters, you can save soul,
rescue people on the seas and mountains. You
bring firing power to bear in every facet of
human endeavour. Flying the helicopter is
a passion.
“If you have the desire, you can never regret
it. It’s fulfilling and satisfying. However, it’s
demanding. It’s demands in depth search
for knowledge, right attitude and safety
consciousness.”
For him, IHFS, a private-public partnership
initiative, was borne out of the need to help
anyone else with a passion for flying to realise
that ambition.
He believes that this unique partnership
is a versatile tool for the enhancement of
civil-military cooperation, thereby harnessing
available resources to stimulate the development
of the aviation industry in line with the
transformation agenda of President Goodluck
Jonathan’s administration.
Thus, he said the IHFS is positioned to
infuse impeccable and dogged military flying
experience into the robust and versatile civil
aviation world through its enriched knowledge
base training.
In the Beginning
It all started as a dream of the former Chief
of Air Staff (CAS), Air Marshal Mohammed
Umar, but has over the years evolved under
the administration of the successive Air Force
Chiefs.
With its fully-integrated training program
designed towards making students become
safety conscious, skilled and professional
pilots, IHFS believes that the trainees would
be competent in operating at all levels in the
commercial, military and corporate aviation
sectors.
Indeed, the school’s selling point lies not
only in providing its students with a solid
foundation in all critical areas of aviation theory
and flight skills, but also teaching them how
to work effectively in the constantly changing
environment of the skies.
Thus at its inception ceremony held in Lagos
two years ago, when the school was officially
accredited and certified, the then Director General
(DG) of the Nigeria Civil Aviation Authority
(NCAA), Captain Fola Akinkuotu, had urged
them to strictly adhere to safety procedures.
Flying School
IHFS was set up by TRIAX Nigeria Limited
and Aeronautical Engineering & Technical
Services Limited (AETSL), a subsidiary of NAF
Holding Company, which formed AETSL-TRIAX
Limited through joint venture arrangement.
With a staff strength of 50, including 25
civilians and 25 Air Force personnel, It’s vision
is to harness a formidable helicopter flying
school that trains and grooms youngsters into
professional pilots.
With the fees are as high as 197, 980 dollars
(approximately N16million) for each student,
the idea to start the school in 2010 have attracted
students with the passion for flying
across all sectors.
Already, the services including the police have
had some of their students pass through the
school. Also, some states like Yobe and Enugu
have sponsored some of their brilliant students
to the school. Not left out are government
personnels and few private individuals.
However, having the passion to fly is not
all it entails. The aspiring student must not
be less than 17 years of age and must have
five credits in O’level including Maths and
English.
THISDAY gathered that the school however
runs three types of training programmes which
It all started as a dream
of the former Chief of Air
Staff (CAS), Air Marshal
Mohammed Umar, but
has over the years evolved
under the administration
of the successive Air Force
Chiefs
Squadron Leader Doyin Komolafe (L) instructing the pilots for take off
An Air Force instructor with some students
includes the private pilot license, instrument
rating and commercial pilot license.
While the private pilot license programme
that leads to the award of Private Pilot License
(PPL) is intended for student pilots learning to
fly as a hobby or those planning to purchase
their own helicopters, it is also the first step on
the path to Commercial Pilot License (CPL).
Accordingly, the total flight training consists
of an average of 24 to 47 flight hours on the
R66 helicopter and Fly it simulator.
The course is inclusive of training in basic
flying instrument to ensure that the trainees
have the capabilities to safely operate under
Special VFR conditions and improve their
instrument scanning techniques.
For the instrument rating, it gives a pilot
the ability to cope with unstable weather
conditions in which he/she might operate
from time to time.
Thus, the instrument rating is essential for
both career and safety reasons and affords
the holder of the rating more versatility than
a non-instrument rated pilot and ultimately
makes the holder safer and more confident
in the air.
For those who desire the license for commercial
purposes, the school designed a syllabus
to prepare them for the practical demands
of professional flying through the total flight
training which consists of an average of 55
to 120 flight hours (PPL inclusive) on the R66
helicopter and Fly it simulator respectively.
For eligibility at the end of the course,
the student’s course encompasses advanced
maneuvers and additional cross country flights
to meet the requirements for Commercial Pilot
License.
Growing the Dream
That was the dream at its inception but the
school has grown beyond what it started with.
With more instructors, additional helicopters, all
turbine-engine, the school has certainly come to
stay, especially with its toga of being the first
helicopter training school in the sub-region.
According to Jolasinmi, since the school is
built on the tripod of professionalism, experience
and safety, they have experienced proficient and
dedicated flight and ground instructors who

THISDAY • MONDAY, MAY 18, 2015
51
CITYSTRINGS
Flying: more young people are taking interest
are highly motivated to provide professional
and quality helicopter pilot training.
Before the tour of the facility, IHFS Chief
Flight Instructor, Squadron Leader Doyin
Komolafe, had an interview with THISDAY,
where he categorically stated that in flying,
there is little room for errors.
Komolafe who also wears the cap of a
captain as a civil pilot said they are focused
on capacity development. Their (NAF personnel)
motivation he said is in building experience
that will also help their Air Force job.
He said, “I monitor the flying training of
the students because there are two parts of
responsibility for an instructor- flying and
ground instruction.
“But my primary duty is to supervise the
instructors and monitor the progress of the
training of the students. In other words, I
provide some sort of quality control.
“As regards their training, the theory is
done in the classrooms where they are taught
air courses like aerodynamics and the legal
aspect of flying. This is before we go to the
physical aspect.
“But even before they delve into the practical
aspect, they have to go through the stimulators.
For us, the ground training takes as much as
12 weeks while the simulator is done in two
weeks, which means the course could run for
as long as nine to 12months, depending on
some crucial factors like weather.
“For our programmers, we run either the
Adhoc or full time programmes. The Adhoc
is for executive students who fly at their own
pace. This means that they determine how fast
or slow they want to handle their training
because of their work schedule.
“We have had some politicians train on
this schedule. This type is more conducive
for those who want to fly for fun.
“For the full time programme, we have
students who want to be professional pilots
and fly and make money. We recommend such
because it’s more concise. Their tuition covers
feeding and boarding and ensures they are
available for training anytime. For now we
gave 23 students on full time but 36 graduated
last year.”
Group Captain Ayo Jolasinmi after a flight
On safety, he said “We have a safety manager
and his job is to implement, monitor and revise
all safety procedure from time to time. One
of the regulations is the procedure manual
approved by the NCCA.
“There is a safety team and they carry out
routine monthly inspections and it involves
going around with the teams to observe and
make their reports based on observations of
electricals, platforms, personnel, facility and
the students.
“Another aspect is quality control and the
job of the quality control manager is to ensure
we meet up with NCCA standards. He is
required to fly with them sometimes to ensure
they fly according to the manual. Although no
two instructor fly with the same style, safety
standards must be adhered to.”
On students who fail the ground phase of
training, Komolafe cited a real life scenario
that occurred in the school. He said, “One of
our students had a similar challenge. After
the ground instruction, we could not move
him to the next phase.
“He had the choice to either quit or repeat
the class. Depending on the finances of such a
person, he can retake the close as often as he
wants but after a certain time, we can advice
that they drop off.
“In flying, there are little room for errors
because they will after training, take responsibility
of people’s lives. If he is not good enough,
sooner or later, you will hear that he crashed.”
Understanding the responsibility this thrusts
on their shoulders, Komolafe said the school
adheres strictly to top-notch safety procedures
and inculcates that in their students to ensure
they are world-class materials at the end of
the day.
Thus, he strongly believes that the fulfillment
they get as trainers lies in the belief that they
are developing the capacity of the young men.
But for him, the most important flight in a
pilot’s life is the Solo Flight, which he takes
alone without his instructor to remind him
on what to do.
With that, he soon leads the way for a
guided tour of the facility. The tour takes
off from the classroom, where some students
were being taught by their instructor, an Air
Force personnel.
Soon after that, it was a visit to the simulation
centre where the rudiments of flying are
simulated but at the same time, gives one a
feel of the reality of flying.
Since the tuition includes feeding and boarding,
the students are lodged in self contained
rooms with all the basic amenities of a home,
with extras like the fully-equipped gym and
the mess, which serves as an entertainment
and relaxation centre.
Going down memory lane, Group Captain
Jolasinmi, afterwards In an interview with
THISDAY said from inception, they have taken
some bold steps, and have been able to meet
and surpass the requirements of the NCAA after
they got their certificate of approval in 2013.
He said, “Beyond that, we have in terms of
manpower development been able to bring a
lot of our experience to bear. The school grew
out of the NAF and we (NAF) have been in
existence for 51years.
“Infrastructure wise, it has been tremendous.
We adhere to world class standards. Even the
Vice President, Nnamadi Sambo; the Senate
President, David Mark; Former Minister
of Information, Labaran Maku and other
stakeholders in the aviation industry have
commended the school.
“One of the reasons for the commendation
is that our helicopters use the turbine engine
and this gives more credit to our students
because most schools start with the piston
engine helicopters.”
Speaking on their programme and curriculum
development, he said, “It has been done in a
way that gives room for cross- over of ideas. It’s
not just theoretical or practical, it’s interwoven.
We deliberately did this so we won’t train
people with insufficient knowledge.
“The truth is that if its not integrated, the
With its fully-integrated
training program designed
towards making students
become safety conscious,
skilled and professional
pilots, IHFS believes that
the trainees would be
competent in operating at
all levels in the commercial,
military and corporate
aviation sectors
man will finish the module and drop it, but
what we have done with the integrated learning
system is that it enables the trainees to
remember what they went through at every
module.”
According to Jolasinmi, the school is built
on three tripod; professionalism, experience
and safety. “Safety is significant in all we do.
Safety is hinged basically on attitudes and
knowledge.
“When you talk about aeronautics, it deals
with knowledge and its applicability is so
that at every point, a pilot is on top of what
he is doing.
“Of course, attitude is also key because
no matter the knowledge or curriculum, if
the pilot does not have the right attitude, he
will be a hazard. Thus, the instructors have
the responsibility of moulding the attitude
of the students.
“For now, we have 43 trained over time.
Our capacity is 40 at a time. We are having a
fresh intake this August. At this stage, we are
growing beyond integrated pilot trained and
now we are doing capacity development for
companies. The companies and airlines send
their pilots to us for training.”
When asked what their future projections
were he said, “We intend to widen our horizon.
We are looking at the possibility of going into
flight instructor training as approved by NCCA.
“We also want to go into the air line transport
license and we intend to develop capacity very
soon for special helicopters operations like
search and rescue, sling loading, mountain
operations and paramedics.”
All these successes and achievements have
not been without its fair share of challenges.
On those he said, “We (Nigeria) have low
tech development so everything is sourced
overseas but we have the capacity to do our
overall maintenance in house.
“Another challenge is that of instability in
the foreign exchange, which makes it difficult
for budgetary purposes. Also, this school is
self-sustaining because we generate our revenue
for ourselves.”
In all, since the mission and vision of the
school is to produce safety minded professional
pilots with impeccable skills and experience
to be capable of effective operations and easily
adaptable to the fast and ever changing
aviation environment, as well as train world
class professional helicopter pilots with high
level of experience and competence, the onus
lies on them to ensure half-baked pilots are
not released to the society.

52 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 53
IN THE FEDERAL HIGH COURT HOLDEN AT LAGOS, NIGERIA
SUIT NO. FHC/L/CS/672/2015

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60 MONDAY MAY 18, 2015 THISDAY

MONDAY MAY 18, 2015 • THISDAY
INTERNATIONAL
email: foreigndesk@thisdaylive.com
E
Egypt’s Former President Sentenced to
Death
An Egyptian court has
pronounced death sentences on
former president Mohammed
Morsi and more than 100
other people over a mass
prison break in 2011. Morsi
is already serving a 20-year
prison term for ordering the
arrest and torture of protesters
while in power.
Egypt’s religious authorities
will now have to give their
opinion before the sentence
can be carried out. Morsi’s
supporters from his Muslim
Brotherhood movement have
described the charges against
him as “farcical”. He was
deposed by the military in
July 2013 following mass
street protests against his rule.
Since then, the authorities
have banned the Muslim
Brotherhood and arrested
thousands of his supporters.
In a separate case on Saturday,
an Egyptian court banned
hardcore football fan clubs
known as the Ultras, who
played a leading role in protests
during the 2011 uprising
against then-president Hosni
Mubarak.
Inside the dock, Morsi
and members of his Muslim
Brotherhood group chanted,
“Down with military rule!”
after the judge read out his
ruling against him. The judge’s
request for the death sentence
in connection with the jailbreak
case was referred to the grand
mufti, a high religious cleric,
for ratification.
However, the mufti’s
recommendation is not
binding. Even if he advises
against the death sentence, the
judge can still go ahead with
it. The Brotherhood issued a
statement condemning the
sentence and called for an
escalation of protests.
But the tight security grip
in Egypt means that it is
highly unlikely to see mass
demonstrations. Hundreds of
Brotherhood supporters are
already behind bars, while
others are keeping a low
profile for fear of a crackdown.
Morsi, who escaped from Wadi
Natroun prison in January 2011,
was accused of colluding with
foreign militants in a plot to
free Islamists during the mass
prison breaks.
Many of his 104 codefendants
were Palestinians
accused of being members of
militant group Hamas, and
were charged in absentia.
The court also issued rulings
on another case, sentencing
16 Muslim Brotherhood
members, including deputy
leader Khairat al-Shater, to
death on spying charges.
Morsi, who also faces
espionage charges, will be
issued a verdict in that case
at a later date.
Tibetan exiles are calling for
China to release a high-ranking
monk who disappeared 20 years
ago when he was just six years
old. The boy was detained
by the Chinese authorities
just three days after the Dalai
Lama declared him to be the
reincarnated Panchen Lama.
The Panchen Lama is the
second most important figure
in Tibetan Buddhism. Many
consider him to be one of
the world’s longest-serving
political prisoners. China has
refused provide details of the
whereabouts of Gedhun Choekyi
Nyima. In 1995 it anointed its
Hundreds of people have
been sentenced to death in a
crackdown on the Brotherhood
following Morsi’s removal in
2013. However, it is thought
that only one such death
sentence has been carried
out so far.
All death sentences must
first be sent to the grand
own Panchen Lama, Gyaltsen
Norbu, who while popular
among some Tibetans has
been described by exiles as a
“stooge of the atheist Chinese
Communist Party government”.
Wangdue Tsering, press
spokesman for the Office of
Tibet in London, told the BBC
that events were taking place
on Sunday across the world
to mark the 20th anniversary
of Gendhun Choekyi Nyima’s
disappearance, including a
candle-lit vigil outside the
Chinese embassy in London.
“We are appealing to the
world community to help us
mufti, Egypt’s highest religious
authority, for his non-binding
opinion on whether they
should stand. Convictions
are still open to appeal, even
if the grand mufti gives his
approval. Morsi’s supporters
have condemned the cases
against him as a political
show trial.
find out where the Panchen
Lama is,” Mr Tsering told the
BBC’s Asia analyst Michael
Bristow. “It’s 20 years since
he disappeared and we don’t
know where he is, where his
family is and how he is. We
want the Chinese authorities to
give some information.”
The Dalai Lama has in the
past strongly criticised China for
“brazen meddling in the system
of reincarnation” - especially the
reincarnation of the Dalai Lamas
and Panchen Lamas. Tibet is
governed as an autonomous
region of China. Beijing claims
a centuries-old sovereignty over
Amr Darrag, a former
minister in Morsi’s government,
described Saturday as “one of
the darkest days” in Egypt’s
history. “These latest charges
are another deeply disturbing
attempt to permanently erase
democracy and the democratic
process in Egypt,” he said in
a statement.
China Urged to Release Panchen Lama
after 20 Years
the region, but many Tibetans
argue that Tibet was colonised.
China sent in thousands
of troops to enforce its claim
on the region in 1950. Some
areas became the Tibetan
Autonomous Region and
others were incorporated
into neighbouring Chinese
provinces. In 1959, after a failed
anti-Chinese uprising, the 14th
Dalai Lama fled Tibet and set up
a government in exile in India.
Beijing views the Dalai Lama as
a separatist threat, although he
has repeatedly stated that his
goal is for Tibetan autonomy
rather than independence.

F
INTERNATIONAL
MONDAY MAY 18, 2015 • THISDAY
Senior Islamic State Leader Killed in
Syrian Raid
American special operations
forces killed a senior
Islamic State leader in
a raid in Syria, United
States officials said on
Saturday, an operation
that marked a departure
from Washington’s strategy
of relying primarily on air
strikes to target militants
there.
Delta Force commandos
used UH-60 Black Hawk
helicopters and V-22 Osprey
tiltrotor aircraft to punch
deep into eastern Syria
from Iraq. They engaged
in a firefight and hand-tohand
combat with Islamic
State fighters, killed a key
figure in the group named
as Abu Sayyaf and captured
his wife, U.S. officials said.
The officials described
Sayyaf, a Tunisian, as an
Islamic State commander
who helped manage the
group’s black-market sales
of oil and gas to raise funds.
The officials said President
Barack Obama ordered the
overnight operation, which
killed about a dozen Islamic
State fighters and had been
planned for several weeks.
It marked the first known
U.S. special forces operation
inside Syria apart from a
failed mission last year
to rescue U.S. and other
foreign hostages held by
Islamic State in northeastern
Syria.
Wary of the United States
getting pulled deeper into
Middle East conflicts,
Obama has promised not
to commit major ground
forces in the fight against
Islamic State, which has
seized swathes of Syria and
Iraq. But he has left open
the prospect of special
forces raids.
It was not immediately
clear if this one marked
the start of a new chapter
in Syria.
U.S. and Arab forces
have carried out almost
daily air raids against
hardline Islamist militant
groups in Syria including
Islamic State since last
September, and U.S.-led
forces are also targeting
the group in Iraq.
Defense Secretary Ash
Carter said the operation
was intended to capture
Abu Sayyaf but he was
killed “when he engaged
U.S. forces.” His wife, Umm
Sayyaf, was captured, then
placed in U.S. military
detention in Iraq and was
being questioned about
Islamic State operations
and hostages held by the
group.
No U.S. forces were killed
or wounded during the
operation, Carter said.
“The operation represents
another significant blow to
ISIL, and it is a reminder
that the United States will
never waver in denying safe
haven to terrorists who
threaten our citizens, and
those of our friends and
allies,” Carter said, using
an acronym for the Islamic
State organization.
Local Syrian sources
contacted by Reuters said
two other senior Islamic
State operatives, a Syrian
and a Saudi, were also killed
alongside Abu Sayyaf. The
raid lasted no more than
half an hour, according to
the sources.
The accounts could not be
independently verified. U.S.
officials had no immediate
comment on whether
other senior Islamic State
militants were killed in
the raid.
The raid in Syria came
at a time when Islamic
State, which has declared
a caliphate in areas it
controls and has carried out
beheadings and massacres,
Egypt Executes Six
Convicted Sinai Province
Militants
Egypt has executed six men
convicted of carrying out an
attack on soldiers last year,
state media report. The six
men, who were hanged, were
accused of being members of
militant group Sinai Province,
which has pledged allegiance
to Islamic State (IS).
They were found guilty of
killing of two officers during
a gunfight in March 2014.
However, rights groups had
called for a retrial for the six
men, arguing that the court
process was flawed. Human
Rights Watch and Amnesty
International said that three
of the men were in custody
at that time, and could not
have carried out the attack in
Arab Sharkas, a village north
of Cairo.
Amnesty described the men’s
trial as “grossly unfair” and
said the men said they were
tortured into confessing to the
charges. The Sinai Province
group has carried out a series
of attacks against military targets
in Egypt’s Sinai Peninsula
since the army ousted President
Mohammed Morsi in 2013.
The group has been involved
in suicide bombings, driveby
shootings, assassinations
andbeheadings.
The group was previously
called Ansar Beit al-Maqdis
(Champions of Jerusalem), but
announced a name change
in November 2014 after
pledging allegiance to IS.
The execution comes a
day after a court handed
down death sentences to
Mr Morsi and more than
100 other people, over a
mass prison break in 2011.
Shortly after the ruling,
gunmen shot dead four
people, including three
judges, in the northern
Sinai city of al-Arish.
has scored high-profile gains
in Iraq and made advances
in Syria.
Islamic State militants
raised their black flag
over the local government
headquarters in the Iraqi
city of Ramadi on Friday
and claimed victory after
overrunning most of the
provincial capital.
If Ramadi were to fall
it would be the first
major city seized by the
Sunni insurgents in Iraq
since security forces and
paramilitary groups began
pushing them back last year.
U.S. House of Representatives
Speaker John
Boehner said he extended
his “gratitude and continued
support” for the U.S.
troops involved in the
A suicide car bomber
rammed into an European
Union vehicle near the main
airport in Afghanistan’s
capital yesterday, killing
at least two Afghans and
a British national in the
latest attack in the city,
officials said.
The Taliban claimed
responsibility for the
attack on the European
Union Police Mission in
Afghanistan (EUPOL),
which advises Afghan law
enforcement authorities.
The insurgents have
launched a wave of attacks
around the country since
the drawdown of most
foreign troops last year
to a small training force.
EUPOL spokeswoman,
Sari Haukka-Konu confirmed
that one of the
mission’s vehicles was
hit by an explosion near
Kabul airport.
Syria raid. But Boehner, a
Republican, said he was
“gravely concerned” by
Islamic State’s advances
in Ramadi, which he said
“threatens the stability and
sovereignty of Iraq, which is
vital to America’s interests.”
Hawkish Republican critics
of Obama, a Democrat,
say he has not acted forcefully
enough to rein in the
rise of Islamic State.
White House National
Security Council spokeswoman
Bernadette Meehan
said the Syria raid
was conducted “with
the full consent of Iraqi
authorities.” She said
the United States did
not give any advance
warning or coordinate
with the government of
She said all the EUPOL
personnel “are in a safe
place” with non-fatal injuries,
but another person
traveling in the vehicle was
killed.
A British embassy spokesman
later confirmed that a
British national was among
the dead but could give
no other details.
Police spokesman Ebadullah
Karimi said a suicide
bomber in a Toyota Corolla
rammed a foreign vehicle
on the road from Kabul’s
main airport to a NATO
military installation nearby.
He said at least two
Afghan civilian bystanders
were killed and 18 people
were wounded.
The bomber struck about
200 meters from the main
airport entrance along the
road leading to NATO’s
adjacent base. Reuters
TV footage showed the
Syrian President Bashar
al-Assad, who Washington
opposes.
“The president authorized
this operation upon the
unanimous recommendation
of his national security
team and as soon as we had
developed sufficient intelligence
and were confident
the mission could be carried
out successfully,” Meehan
said.
Meehan said U.S. forces
freed a young Yezidi woman
“who appears to have been
held as a slave” by Abu
Sayyaf and his wife. His
wife was suspected of playing
“an important role in
ISIL’s terrorist activities,”
Meehan said.
The U.S. military last
summer carried out a failed
mangled remains of the car.
Rescuers carried wounded
Afghan civilians from
the scene, which police
cordoned off.
Taliban spokesman
Zabihullah Mujahid claimed
responsibility saying that
two vehicles were destroyed
and seven foreign troops
were killed. The insurgents
frequently report inflated
casualties in their attacks.
The capital has seen a
new surge in major attacks
over the last two weeks
after a relative lull since
January.
On Wednesday night,
gunmen attacked a popular
guesthouse ahead of a
musical concert and killed
14 people including nine
foreign citizens.
And twice in a week,
suicide car-bombers
targeted buses carrying
employees of the Afghan
mission in Syria to rescue
journalist James Foley, held
hostage by Islamic State.
Foley was later beheaded by
the group in August 2014.
In December, al Qaeda
militants shot and fatally
wounded American photo
journalist Luke Somers and
South African teacher Pierre
Korkie during a failed
rescue attempt led by U.S.
commandos in Yemen.
Saturday’s raid followed
a summit Obama held at
Camp David earlier this
week with Saudi Arabia
and other Gulf Arab allies
who have pressed the
United States to be more
militarily assertive in Syria,
especially in support of
moderate rebels seeking
to oust Assad.
REMBERING THE UNKNOWN SOLDIER
German Chancellor Angela Merkel and Russian President Vladimir Putin attend a flower-laying ceremony at the Tomb of the
Unknown Soldier by the Kremlin walls in Moscow, Russia...yesterday
Car Bomb on EU Vehicle Kills Three in Afghan
Capital
attorney general’s offices,
killing four people.
The Taliban claimed all
of the attacks.
The insurgents seek to
re-establish their hard-line
Islamist regime more than
13 years after it was toppled
in a U.S.-led military intervention
for sheltering the
al-Qaeda planners of the
Sept. 11, 2001, attacks
on American cities.
The Taliban have
been seeking to gain
new ground since the
drawdown of foreign
forces last year to a
training force of about
12,500.
The NATO-trained
Afghan police and
army have struggled
to prevent attacks and
are engaged in a standoff
with Taliban fighters on
the outskirts of the northern
city of Kunduz.

THISDAY • MONDAY MAY 18, 2015
INTERNATIONAL
G
Pope Francis Canonises Two
Palestinian Women
Pope Francis named two
Palestinian women as saints
yesterday, in a ceremony in
Saint Peter’s Square just days
after the Vatican formalised
its de facto recognition of
the State of Palestine.
The canonization of
Sister Marie-Alphonsine
Danil Ghattas, founder
of the Sisters of the Most
Holy Rosary of Jerusalem,
and Maryam Baouardy,
who founded a Carmelite
convent in Bethlehem, was
not directly connected with
the Vatican’s Wednesday
announcement of a new
accord with the State of
Palestine.
But the ceremony, attended
by Palestinian President
Mahmoud Abbas and a
delegation of senior clergy
including the Latin Patriarch
of Jerusalem Fouad Twal,
highlighted Pope Francis’
longstanding drive to help
embattled Christian communities
in the Middle East.
Saint Peter’s Square was
decked out for the occasion
300 Migrants Stranded
in Asian Seas
For several days, the fate of
roughly 300 desperate Rohingya
and Bangladeshi migrants has
been subject to a repetitive dance
in waters just out of sight of
gleaming Thai beach resorts.
Their boat, which those on
board say has been at sea for
up to three months, was found
drifting last Thursday near
Koh Lipe island, close to the
Malaysian border, with parts
of its engine missing.
Thai sailors fixed the engine
and handed the migrants food
and water, before turning them
back out to the Andaman Sea.
That was the beginning of
what local Thai navy chief Lieutenant
Commander Veerapong
Nakprasit calls “a cycle”, with
the overcrowded fishing vessel
bouncing between the waters of
two countries determined not
to take them in.
This rickety boat was just one
of many that are at the center
of a regional crisis triggered
by a flood of Bangladeshis
and Rohingya Muslims from
Myanmar.
Migrants have long made their
way from the Bay of Bengal’s
southeast corner to Thailand, but
a crackdown on traffickers by
the Thai government disrupted
the route and several thousand
were left at sea with nowhere
to go, though more than 2,000
have made it to the shores of
Malaysia and Indonesia.
Thailand’s foreign ministry
said in a statement that it had
informed the people on the
boat found off Koh Lipe that
they could come ashore for
humanitarian assistance, but
“they informed the Thai side that
they wished to travel onwards”.
After being towed out on
Friday, it headed southwest,
according to Thai navy radar
tracking seen by Reuters. It then
took a jagged counterclockwise
arc towards Malaysian waters,
before its engine stopped and it
drifted again in the sea.
Piecing together what happened
to the migrants after that
is difficult to establish because of
contradictory accounts from Thai
officials and near-total silence
from Malaysia.
On Saturday, Reuters journalists
in a speedboat spotted the
boat tethered to the side of a
Thai navy patrol vessel. The
boat’s engine was running and
it was being dragged southwest
across the Malacca Strait towards
Indonesia’s Aceh province.
As the Reuters team pulled
alongside the migrants’ boat,
hundreds of rake-thin migrants
could be seen huddling
shoulder-to-shoulder on the deck,
sheltering from the harsh sun
with whatever they could find,
including the torn-up boxes of
food handed to them by the
Thai navy earlier.
Men shouted from the boat,
but could not be heard above
the din of the engines. Women
and children stared out and
cried.
As Thai sailors yelled “Go
away! Go, go!” at the journalists,
the migrants’ boat was
released, and it again arced
under its own power back
towards Malaysia, where two
Malaysian vessels were seen
intercepting it.
A Thai navy officer who
questioned the Reuters journalists
at sea described tension and
increasing desperation on the
boat.
The officer, who declined to be
named, said the boat appeared
to be under the control of two or
three “agents” who insisted on
going to Malaysia over objections
from some passengers and had
hoarded food and water provided
by the military. The engine was
found on Saturday with water
in it, a possible sign it had been
sabotaged, he said.
“The women and children
are not getting fed,” he said,
adding that when the boat was
first intercepted near Koh Lipe
they had to force the agents to
give them food.
“The first time they were
intercepted, everyone wanted
to go to Malaysia. Today some
of them wanted to come to
Thailand but the men ordered
them back,” he said.
Chris Lewa, head of the
Arakan Project which tracks
Rohingya migrant boats,
said she had been told of
mounting tensions on the
boat that could break out
into open conflict.
“They could even kill each
other,” she said.Several hours
later, another Reuters team
spotted the migrants’ vessel
again tethered to the Thai
navy patrol boat. It was unclear
if it had been pushed
back by the Malaysians.
Veerapong said that, as of
Saturday night, the boat had
been turned and was heading
once again in the direction of
Indonesia.
with portraits of the Palestinians
and two other newly
sanctified nuns - the French
Jeanne-Emilie de Villeneuve
and Italian Maria Cristina of
the Immaculate Conception
Brando.
In a statement as he
departed for the Vatican
last week, Twal said Ghattas
and Baouardy, who entered
religious orders as teenagers
in the late 1800s and died in
1927 and 1878 respectively,
were an example for Christians,
Muslims and Jews.
“It is a sign of our modern
time which suggests
that we can talk about the
three religions without any
discrimination,” the patriarch
said in a statement as he
departed for the Vatican.
The canonizations of two
Palestinians were the first of
their kind “since the days
of the apostles,” Twal said.
On Saturday, the pope met
Abbas for a private visit, calling
him “an angel of peace”
and urging a renewed effort
to find peace with Israel.
L-R: Managing Director/CEO, PRM Africa and Executive Producer, All Africa Music Awards (AFRIMA), Mike Dada; Director,
Brand Communications and Sponsorship, Matlou Tsotsesi; and AFRIMA Winner, 2014 Album of the Year, Olamide (Nigeria),
at the AUC-AFRIMA Conference, held at the African Union Headquarters, Addis Ababa, Ethiopia, recently.
Yemen: 10 Killed in
Overnight Fighting in
Taiz
At least 10 people were killed in
overnight battles in the Yemeni
city of Taiz between Houthis
and militiamen, residents and
medical sources said yesterday.
The fighting in Taiz comes
despite a five-day humanitarian
truce which began on Tuesday
to distribute aid to the millions
deprived of food, fuel and
medicine by weeks of fighting.
Saudi Arabia, leading a coalition
of Arab states backed by the
West, has pounded Iranian-allied
Houthi forces and fighters loyal
to Yemen’s former leader Ali
Abdullah Saleh since March
26, aiming to restore President
Abd-Rabbu Mansour Hadi.
Some fighting also took
place in the city of Dhalea on
Saturday night but there was
no immediate information on
casualties.
A conference between Yemeni
political groups has been
scheduled by President Hadi’s
government for Monday in
Riyadh after the ceasefire
ends.
The conference was rejected
by both the Houthis and fighters
loyal to former president
Saleh, meaning it will not
provide an opportunity for
peace talks.
However, some leading
figures from Saleh’s political
party, the General People’s
Congress (GPC), have gone
to Riyadh and pledged loyalty
to Hadi’s government.
Those figures issued a
statement late on Saturday
asking for Saleh to step down
as president of the GPC and
declared they would take part
in the Riyadh talks.
Three Ukrainian Servicemen
Killed, 17 Wounded
Three Ukrainian serviceman
have been killed and 17
wounded in fresh separatist
attacks in eastern Ukraine
in violation of a ceasefire
agreement, a Ukrainian
military spokesman said
yesterday.
Two of the deaths were
a result of a mortar attack
near the town of Svitlodarsk,
northeast of separatist-controlled
Donetsk, spokesman
Andriy Lysenko said in a
briefing.
Ukrainian President,
Petro Poroshenko, said last
Wednesday that 83 Ukrainian
servicemen have been killed
in rebel attacks since the
ceasefire came into force in
February.
Macedonia Protesters
Vow to Occupy Streets
until Leader Quits
Anti-government protesters in
Macedonia have said that they
will occupy downtown Skopje
until embattled conservative
Prime Minister Nikola Gruevski
resigns over a flood of damaging
wire-tap disclosures.
Gruevski’s political opponents
hope to rally tens of thousands
in front of the prime minister’s
office from 2 p.m. (8 a.m. ET),
accusing him of trampling on
democracy.
“The protest will continue,”
opposition Social Democrat
leader Zoran Zaev said late on
Saturday in an interview with
internet broadcaster Nova TV.
“Around 4,600 activists, mostly
young people, said we’re staying,
even if you won’t. That’s
when we decided to stay.”
Since February, Zaev has been
releasing a hoard of audio-tapes
he says were secretly recorded
by Gruevski’s government, targeting
20,000 allies, opponents,
journalists, judges and other
figures during his nine years
in power.
They appear to expose tight
government control over the
media, courts and the conduct
of elections. Gruevski says the
tapes were made by foreign
spies and have been doctored.
Zaev has been charged with
“violence” against the state. The
government has called its own
rally for Monday evening.
The standoff has raised fears
of instability in the impoverished
ex-Yugoslav republic, which
narrowly avoided all-out civil
war during an ethnic Albanian
insurgency in 2001.
Macedonia wants to join
NATO and the European Union,
but progress has been blocked
for years by a long-running
dispute with neighboring
Greece over the country’s
name, during which time
critics say Gruevski has shifted
right, fuelling nationalism and
monopolizing power.
Western diplomats in Skopje
are trying to mediate a solution
to the crisis, and have questioned
the government’s commitment to
democracy and European values.
On May 9 and 10, a police
raid on a northern ethnic
Albanian neighborhood left
18 people dead: eight police
officers and 10 Albanians
described by the government
as “terrorists”. Gruevski said
police had thwarted a terrorist
plot, but Albanians and some
foreign analysts said the timing
suggested the government was
trying to create a diversion.
“I have no intention of resigning,
or accepting an interim
government,” Gruevski told
pro-government broadcaster
Sitel TV on Saturday. “If I back
down it would be a cowardly
move. I’ll face down the attacks.”
Weighing in on Saturday,
Russia’s foreign ministry accused
“Western organizers” of trying
to foment a revolution.

H
MONDAY MAY 18, 2015 THISDAY

MONDAY MAY 18, 2015 • THISDAY
INTERNATIONAL
61
Burundi’s President
Warns of Al
Shabaab’s Violence
Burundi’s President, Pierre
Nkurunziza, has said that his
country faces a specific threat
from the Somali Islamist
movement, al-Shabab. He
was appearing in public in
the capital Bujumbura for
the first time since a failed
coup bid against him was
launched on Wednesday.
Mr Nkurunziza made no
mention of the coup attempt,
which came after weeks of
sometimes violent protests
against him. On Saturday 18
people appeared in court on
charges of helping the coup
bid. The alleged ringleader,
Godefroid Niyombare, is still
on the run.
Activists are planning more
protests for Monday against
Mr Nkurunziza’s decision to
seek a third term in office
A Turkish freighter has
been attacked near the
coast of Libya, leaving
one crew member dead,
Turkey’s foreign ministry
has said. The ship came
under artillery and aerial
fire near the eastern port
of Tobruk late on Sunday,
the ministry said. Several
crew members were hurt.
Turkey criticised what
it called an “atrocious”
act. But Libya said it had
issued warnings about not
approaching parts of the
coastline. Libya has been
in chaos since its long-time
leader, Colonel Muammar
Gaddafi, was overthrown
with Western military help
in 2011.
The internationallyrecognised
government
in elections due next month.
The president’s claims have
been met with scepticism
from many, who fear they
could provide a pretext for
the security services to crack
down hard on Monday’s
demonstrations.
On Saturday, our
correspondent saw evidence
of a retaliatory attack at a
hospital where soldiers
involved in the coup were
being treated. Three soldiers
were taken from the building
and bundled into a police
van. Nkurunziza was out of
the country when military
officers launched their
coup bid against him on
Wednesday. He returned on
Friday after forces loyal to
him had regained full control.
The president said he
is based in the port city
of Tobruk and in al-Bayda,
having been expelled from
the capital, Tripoli, by
militias in 2014.
Turkey’s foreign ministry
said the ship, which was
carrying gypsum from
Spain to Libya, came under
attack 13 nautical miles
(24km) from Tobruk, its
destination. The Turkish
third captain was killed.
But a spokesman for
forces belonging to the
Tobruk government said
it was destined for Derna,
a port city 106 miles
(171km) further west. “A
ship was shelled about 10
miles from Derna coast.
We have warned before
about approaching Derna
port,” Mohamed Hejazi told
came to his office to speak
on the telephone with the
leaders of Kenya and Uganda
regarding a specific threat
from the Islamist group al-
Shabab. Al-Shabab, which
is battling the UN-backed
government in Somalia, has
carried out a string of attacks
in neighbouring Kenya and
is allied to al-Qaeda.
The UK Foreign Office and
the US state department say
al-Shabab has threatened
to carry out attacks in
Burundi because of its role
in the African Union-led
peacekeeping mission in
Somalia. The US has advised
its citizens to leave the country
because of the deteriorating
political situation, and had
previously warned about the
threat from al-Shabab.
Libyan Conflict: Turkish Ship
‘Bombed near Tobruk’
Reuters news agency.
Turkey said the Cook
Islands-registered ship
was in international waters
when it was attacked,
something Libya denies.
In January, Libyan air force
jets bombed a Greek oil
tanker, killing two crew
members, after saying its
movements in Derna had
raised suspicions.
Reports say no tankers
unloaded in Derna
between the bombing and
two weeks ago, when a
Maltese-flagged ship
docked there. Islamist
militias have established
a strong presence over the
last two years, and some
militants have pledged of
allegiance to the Islamic
State militant group.
Taliban Suicide Attack Kills Three
near Kabul Airport
A suicide bomb attack near
the entrance of the international
airport in the Afghan
capital Kabul has killed
three people, including a
British citizen. The attack
took place close to the area
used by military vehicles
and targeted a European
police training mission
vehicle.Two Afghan teenage
girls, described as bystanders,
died in the blast, while at
least 18 people were injured.
The Taliban said it carried
out the attack in a statement
emailed to media. The attack
is the second major incident
in Kabul within a week. A
Taliban gun attack on a hotel
in the city on Thursday killed
14 people, most of them
foreigners. At least eight
women and three children
were among the wounded
in Sunday’s attack, Kabul
police said, in addition
to three members of the
European mission, known
as Eupol.
A spokeswoman for the
UK’s Foreign and Commonwealth
Office (FCO) said:
“We can confirm that a British
national was tragically killed
in a terrorist attack in Kabul
this morning. We stand ready
to provide consular assistance
to the family.”
A spokesman for the
interior ministry, Najib
Danish, told reporters that
one foreign military vehicle
and two civilian vehicles
were damaged in the attack.
The bombing on Sunday
comes two weeks after
the first exploratory peace
talks between the Taliban
and a group of negotiators
including representatives of
the government.

62 MONDAY MAY 18, 2015 THISDAY

THISDAY MONDAY MAY 18, 2015 63
ADVERTORIAL

64
THISDAY • MONDAY, MAY 18, 2015
Nigeria’s top 50 stocks based on market fundamentals
15-May-15 8-May-15 % Change Capitalisation EPS P/E P/S Div. Yld Price/
Book
Value
01 Zenith Bank Plc 22.22 21.26 4.52% 697,630,091,924.92 3.10 7.17 1.91 7.88% 1.26
02 Lafarge Africa Plc. 82.50 82.52 -0.02% 363,344,519,010.00 6.42 12.85 1.77 4.00% 1.90
03 Ecobank Transnational Incorporated 21.56 24.49 -11.96% 343,940,303,931.84 1.60 13.46 0.81 2.88% 0.92
04 Stanbic IBTC Holdings Plc 30.00 30.00 0.00% 300,000,000,000.00 2.65 11.33 2.54 0.33% 2.67
05 FBN Holdings Plc 8.99 9.10 -1.21% 293,362,438,360.44 2.08 4.33 0.73 11.12% 0.56
06 Guinness Nig Plc 155.00 160.56 -3.46% 233,412,669,140.00 6.24 24.83 2.08 0.00% 5.62
07 Forte Oil Plc. 173.23 163.01 6.27% 225,628,801,472.69 5.18 33.44 1.66 2.31% 5.70
08 Seplat Petroleum Dev. Co. Ltd. 387.00 387.00 0.00% 214,131,091,131.00 94.70 4.09 1.57 4.13% 1.04
09 United Bank for Africa Plc 5.20 5.00 4.00% 171,503,215,343.20 1.32 3.93 0.62 9.62% 0.72
10 Oando Plc 17.81 18.40 -3.21% 161,798,252,993.78 0.66 26.90 0.28 4.21% 1.03
11 Access Bank Plc. 6.18 5.98 3.34% 141,416,438,851.44 1.69 3.66 0.67 5.66% 0.51
12 Unilever Nigeria Plc. 34.40 43.00 -20.00% 130,145,391,000.00 0.93 36.86 2.18 3.63% 20.41
13 Transnational Corporation Of Nigeria Plc 3.19 3.20 -0.31% 123,519,981,785.75 0.29 10.87 3.82 1.57% 1.35
14 P Z Cussons Nigeria Plc. 29.00 28.00 3.57% 115,143,834,305.00 1.09 26.70 1.59 4.48% 2.48
15 7-Up Bottling Comp. Plc. 176.00 162.00 8.64% 112,743,903,888.00 8.39 20.97 1.45 1.25% 6.51
16 Diamond Bank Plc 4.37 4.60 -5.00% 101,210,899,790.16 1.33 3.30 0.53 6.86% 0.69
17 Flour Mills Nig. Plc. 35.00 35.29 -0.82% 91,848,301,545.00 1.84 19.01 0.28 5.71% 1.08
18 Dangote Sugar Refinery Plc 6.60 6.40 3.12% 79,200,000,000.00 1.11 5.92 0.78 7.58% 1.61
19 U A C N Plc. 40.00 40.00 0.00% 76,834,575,480.00 4.53 8.83 0.97 4.38% 1.05
20 Cadbury Nigeria Plc. 39.90 39.90 0.00% 74,940,261,396.00 3.21 12.44 2.23 3.26% 6.86
21 Julius Berger Nig. Plc. 51.70 51.70 0.00% 68,244,000,000.00 6.00 8.62 0.31 5.22% 3.03
22 International Breweries Plc. 20.00 20.42 -2.06% 65,250,528,600.00 0.65 30.99 3.53 1.25% 5.79
23 FCMB Group Plc. 3.00 3.25 -7.69% 59,408,132,262.00 0.82 3.65 0.43 10.00% 0.40
24 Fidelity Bank Plc 1.89 1.92 -1.56% 54,762,366,373.47 0.23 8.21 0.43 7.41% 0.32
25 Mobil Oil Nig Plc. 151.30 150.00 0.87% 54,558,063,140.60 19.21 7.88 0.67 3.97% 4.07
26 Total Nigeria Plc. 150.00 165.00 -9.09% 50,928,275,550.00 15.49 9.69 0.21 6.00% 3.56
27 Sterling Bank Plc. 2.15 2.15 0.00% 46,424,549,229.25 0.35 6.16 0.47 11.63% 0.06
28 Glaxo Smithkline Consumer Nig. Plc. 44.20 54.00 -18.15% 42,286,192,598.00 2.56 17.26 1.41 2.94% 3.26
29 Wema Bank Plc. 0.99 0.97 2.06% 39,093,489,480.87 0.00 335.66 5.78 0.00% 22.01
30 Cap Plc 43.00 43.00 0.00% 30,100,000,000.00 1.66 25.86 4.52 2.33% 22.92
31 Mansard Insurance Plc 3.00 2.99 0.33% 30,000,000,000.00 0.20 14.99 1.99 1.33% 1.94
32 Presco Plc 30.00 28.98 3.52% 30,000,000,000.00 3.28 9.15 2.64 0.33% 1.69
33 Skye Bank Plc 2.17 2.50 -13.20% 28,685,956,246.92 1.14 1.90 0.23 13.82% 0.24
34 Honeywell Flour Mill Plc 3.47 3.96 -12.37% 27,517,785,873.26 0.40 8.73 0.51 4.61% 1.42
35 Okomu Oil Palm Plc. 28.44 28.52 -0.28% 27,129,200,400.00 2.25 12.66 3.06 3.52% 1.17
36 Unity Bank Plc 2.23 2.62 -14.89% 26,067,223,610.66 0.54 4.11 0.41 0.00% 0.45
37 Custodian And Allied Insurance Plc 4.17 4.20 -0.71% 24,527,373,693.15 0.70 5.93 0.97 2.64% 1.19
38 National Salt Co. Nig. Plc 8.00 8.30 -3.61% 21,195,507,024.00 0.97 8.26 1.97 11.25% 3.78
39 UACN Property Development Co. Limited 10.25 10.25 0.00% 17,617,187,448.75 1.81 5.67 1.57 6.83% 0.53
40 Cement Co. Of North.Nig. Plc 10.50 10.50 0.00% 13,195,116,543.00 1.13 9.31 0.81 6.67% 1.35
41 Continental Reinsurance Plc 0.99 0.99 0.00% 10,269,016,868.88 0.16 6.21 0.65 10.10% 0.70
42 Nigerian Aviation Handling Company Plc 6.80 6.68 1.80% 10,040,625,000.00 0.49 13.75 1.22 4.41% 1.69
43 AIICO Insurance Plc. 1.00 1.04 -3.85% 8,800,204,480.00 0.14 7.24 0.33 0.00% 0.68
44 Wapic Insurance Plc 0.54 0.53 1.89% 7,226,678,653.92 0.03 18.87 1.92 0.00% 0.51
45 Resort Savings & Loans Plc 0.50 0.50 0.00% 5,664,866,202.00 4.68 0.11 0.02 0.00% 0.03
46 Fidson Healthcare Plc 3.20 3.15 1.59% 4,800,000,000.00 0.63 5.05 0.22 13.13% 0.10
47 AIICO Insurance Plc. 1.02 1.14 -10.53% 8,976,208,569.60 0.14 7.39 0.34 0.00% 0.70
48 Wapic Insurance Plc 0.52 0.55 -5.45% 6,959,023,888.96 0.03 18.17 1.85 0.00% 0.49
49 Resort Savings & Loans Plc 0.50 0.50 0.00% 5,664,866,202.00 4.68 0.11 0.02 0.00% 0.03
50 Fidson Healthcare Plc 3.32 3.35 -0.90% 4,980,000,000.00 0.63 5.24 0.22 12.65% 0.10
TOTAL 10,652,468,770,086.20
TOTAL MARKET CAP 11,696,846,667,606.00
% OF MARKET CAP 91.07%
Annotation - MA* = Simple Moving Average
Table 1 Market Statistics
Mkt Indicators
Open
8-May-15
Close
15-May-15
Change %
NSE All Share Index 34,439.40 34,400.57 -0.11
NSE Market Cap (N'Trillion) 11.70 11.68 -0.12
Thisday BGL 50 Index 144.14 144.05 -0.07
Thisday BGL 50 Market
Cap (N'Trillion)
10.65 10.65 -0.07
Table 3 Top 5 Gainers
Stock
Table 4 Top 5 Losers
Stock
Open
8-May-15
Open
8-May-15
Close Change %
15-May-15
7-Up Bottling Comp. Plc. 176.00 162.00 8.64
Forte Oil Plc. 173.23 163.01 6.27
Zenith Bank Plc 22.22 21.26 4.52
United Bank for Africa Plc 5.20 5.00 4.00
P Z Cussons Nigeria Plc. 29.00 28.00 3.57
Close Change %
15-May-15
Unilever Nigeria Plc. 34.40 43.00 -20.00
Glaxo Smithkline Consumer 44.20 54.00 -18.15
Nig. Plc.
Unity Bank Plc 2.23 2.62 -14.89
Skye Bank Plc 2.17 2.50 -13.20
Honeywell Flour Mill Plc 3.47 3.96 -12.37%
WTD loss at modest 0.11%
In line with our expectation, the market closed
southward thanks to a number earnings
announcement during the trading week, as Brent
crude oil surged to $6 from $58 at the start of
the week. At the moment, the current 52 week
loss stands at 12.86, lower than 13.05% at the
end of the prior week. The NSE All-Share Index
depreciated by 0.11% in five-trading-days
to close the trading week at 34,400.57 from
34,439.40 at the end of the prior ended week.
Market capitalisation also decreased to N11.68
trillion from N11.70 trillion at the end of the prior
week. The Thisday BGL 50 Index also followed
suit though with a lower 0.07% decrease to
close at 144.05 from 144.14 the prior week,
while its market capitalisation stood to N10.65
trillion from N10.65 trillion at the end of the prior
week.
7up Plc. emerged the toast of investors,
as the bottling giant led the gainers chart with
an 8.64% appreciation during the week to
close at N162.00 per share from N176.00 per
share. It was followed by Forte Oil Plc. with a
gain of 6.27% to close at N163.01 per share
from N173.23 per share. Others on the weekly
gainers’ chart include; Zenith Bank Plc. with a
4.52% gain to N22.22 per share, UBA Plc., with
a 4.00% gain to close at N5.20 per share, and
PZ Cussons Plc. with a 3.57% gain to close at
N28.00 per share.
Unilever Plc. led the losers chart with a
20.0% to close at N34.40 per share from N43.00
per share a week earlier. It was followed by GSK
Plc. with a loss of 18.15% to close at N44.20
per share from N54.00 a week earlier. Others on
the decliners’ chart are; Unity Bank Plc. with a
14.89% depreciation to close at N2.23 per share,
Skye Bank Plc., with loss of 13.20% to close at
N2.17 per share, and Honeywell Plc., with loss of
12.37% to close at N3.47 per share.
Outlook for the week
We expect positive sentiment to resume
on the Bourse, as we expect bargain hunting
for banking stocks, as witnessed by the large
volume and value of trade witnessed during
the week. In addition we expect investors to
start positioning ahead of the full year and first
quarter of 2015 earnings season.
REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does
and seeks to do business with companies covered in its research reports. As a
result, the firm may have a conflict of interest that could affect the objectivity of this
report. Investors should use this report as one of many other factors in making their
investment decisions.
For more details go to www.thisdaylive.com

MONDAY MAY 18, 2015 • THISDAY
65
NEWSEXTRA
Fashola Hits Back at Critics over Lagos
Debt Profile
Shola Oyeyipo and Ojo
Maduekwe
Perhaps as a parting shot, the
Lagos State Governor, Mr.
Babatunde Fashola (SAN), has
asked critics of his administration
to evaluate the gains of the
infrastructure development
brought about by the loans
of his administration and stop
emphasising the figures.
Fashola, who made this
clarification at the weekend during
an interview session with select
journalists at the State House,
Alausa, Ikeja, also noted that
there was a distinct repayment
schedule for the bonds obtained
by the state government with
credit worthiness.
“The borrowing you are talking
about, when you measure it
against the asset, today, we took
N275 billion bond over about
eight years. The first thing we
had to do was to repay the old
bond of N15 billion because Lagos
State drew N15 billion out of
the N25 billion bond. We had
to repay so that we can take full
benefit of what we were trying
to do, which was going to be
issued in series and we did all
these things in public.
“What did we use that money
to finance? We used that money
to finance infrastructure. So as
the monthly Internally Generated
Reveue (IGR) is coming, we are
refunding 15 per cent of that IGR
and don’t forget that the N20
billion you are talking about,
15 per cent goes straight into a
consolidated debt service account.
We can’t touch it. So, take 15 per
cent of N20 billion out. We have
close to about N100 billion in
that account to pay the debts. So,
those who are saying we owe;
the system to pay the bond is
secured.
“We just paid the second bond,
which was the first that I took.
We paid it; I think it was last
year. The next bond will be due
in 2017 and it’s about N60 or 70
billion, but we have N100 billion
in the account,” he explained.
The governor however
reiterated that the state had
“secured our liabilities as far as
the bonds are concerned. As far
as the local short term loans from
banks are concerned, we are able
to pay and if you don’t want a
life of debt, it means first that
Lagosian must agree that let us
reduce our budget to only what
we earn. We have a budget of
about N489 billion, let’s use the
IGR example, 30 x 12 is 360, and
so, we are already in a hole of
about N119 billion,” he explained.
Fashola noted that most of
those attempting to criticise
the administration are doing
so without paying attention to
the advantages that the bonds
have brought to the people of
the state, particularly in the area
of improved living standard of
the populace.
“People simply just dwell on
debt but I think in the context of
debt, let us look at the asset too.
I am leaving behind hundreds
of kilometres of roads, bridges,
schools, hospitals, court rooms,
social services, skill centres, street
lights and traffic lights. I’m leaving
behind people who don’t have
a job seven years ago who now
have jobs; I’m leaving behind a
stronger security force, stronger
LASTMA, stronger KAI. That is
where the money went.
“I’m leaving behind a rail
system; I’m leaving behind so
many assets for the continuity
of life. I’m also leaving behind
a bigger work force. I’m leaving
behind a better equipped work
force. So, I think we should
talk less about debt and talk
about development. The state
government would continue to
raise more money. All these take
me to the IGR that you are talking
about. The IGR standing on its
own is averagely N20 billion.
Let’s do the math.
“Some months, it goes more
than that, some months it drops.
So let’s use N20 billion as an
example. The monthly allocation
from FAC is averagely N10
billion. Sometimes it goes up to
N11 billion; sometimes it comes
down to N9 billion. So let’s use
an average of N10 billion, even
though it dropped last month to
N6.5 billion. So, we didn’t even
have enough to pay salaries. So,
El-Rufai Laments Huge
Debt Profile in Kaduna
John Shiklam in Kaduna
The Kaduna State governor-elect,
Mallam Nasir El-Rufai, at the
weekend decried the high debt
profile of the state, lamenting
that his administration would be
inheriting a bankrupt economy
when he takes over on May 29.
According to him, the debt
profile of the state currently stood
at N90 billion, adding that it may
increase to N100 billion before
May 29.
El-Rufai stated this during
a special reception for elected
officials by Kaduna Peoples’
Association (KAPA) and special
prayers for them by the All
Progressives Congress (APC)
Yoruba Political Forum which
held at the Arewa House, Kaduna.
He said Nigerians should pity
him and the president -elect, Gen.
Muhammadu Buhari and pray
for them rather than coming to
congratulate them because of the
bankrupt economy he and Buhari
would inherit.
He said the situation was in
bad situation, noting that the
outgoing government led by
President Goodluck Jonathan
had to obtain loan to pay salaries.
He declared that his
government would not
share public funds to any persons
or group, no matter how highly
placed they are.
“When people call me to
congratulate me or come to
congratulate me and Buhari, I
always tell them, thank you, but
what we need is your sympathy
and prayers.
“This is because, myself and
Buhari are taking over bankrupt
governments; it is so bad that the
Jonathan administration is finding
it difficult to pay salaries, in fact,
they had to obtain loan to pay
salaries.
let’s take an average of N30 billion
a month, do the calculation 21
million peoples, divide it, you
will come to roughly N1,400 per
person in Lagos.
“So, it’s easy then to say let’s
collect that through IGR that you
are saying is big. You are seeing
the IGR in isolation; you are not
seeing the big responsibilities. Our
population has also grown by
forced migration – Internally
Displaced Persons (IDPs)
resettlement. I just sent a team
to a place in Apapa, where there
are people displaced from the
North-east of Nigeria in camps, so
we have to go and intervene. You
can’t leave them there without
help. The sanitary conditions are
horrendous.
“So, N1,400, if we wanted a
government that just does what
is available every month, I just
tell everybody take your N1400
go and build your roads, go and
build your schools, go and build
your hospitals and manage your
Dangote Cement Posts N74.7bn Profit in
Q1 2015
Crusoe Osagie
Nigeria’s largest cement
producer, Dangote Cement,
has announced a gross profit
of N74.7 billion for the three
months ended March 31, 2015,
indicating an increase of 10.5
per cent over N67.63 billion
recorded in the same period
in 2014.
According to the cement
giant’s unaudited results for
first quarter of 2015, revenues
rose by 10.8 to 114.7billion
compared to N103.57 billion
in the corresponding in 2014.
The improvement in the first
results was buoyed by maiden
contributions from non-Nigerian
factories
Net profit was up from 44.1
per cent to 68.6 billion in contrast
to N47.62 billion in 2014, while
earnings per share grew by 45.7
per cent to 4.09.
Group cement sales volumes
was up by 3.4 per cent to 3.8
security.
“But we have to be futuristic,
we have to think ahead. The
IGR you talked about doesn’t
come as IGR to us, it comes as
somebody paying N1 million
for land, someone registering
vehicles, somebody paying his
ground rent N3 million, but it is
because we are accountable that
we always announce at the end
of the month that this is what
we got.
“If we wait for the 30 days for
the money to accrue, it means we
won’t do any work. So people
must understand that it means we
won’t do any work because the
money hasn’t accrued. So, what
do we do? We borrow against
it. The banks which collect it
know that we will pay because
the money comes through them.
So we take a loan, but we don’t
borrow to pay salaries, we don’t
borrow for recurrent expenditure,
we borrow for capital investment.
“The person who is waiting
million tonnes driven by
contributions from South Africa,
Senegal, Cameroon and new
lines in Nigeria. The margins
from Nigeria increased by
new pricing, improved gas
supply and more use of coal.
Dangote cement plants are now
operational in Zambia and
Ethiopia. The new plants are
expected to impact positively
on the financials of the cement
giants.
Speaking on the first quarter
results, Chief Executive officer,
Dangote Cement, Mr. Onne van
der Weijde, said: “Our African
projects are now beginning to
deliver revenue growth for the
group and even at this early
stage we are seeing good
potential in all the countries
into which we are expanding.
“Senegal has made an
excellent start, Cameroun is
poised for a strong entry into
an exciting growth market and
Sephaku Cement is clearly
to deliver a child and there is
no hospital space, I can’t go and
tell that person to wait, that I
am waiting to collect money.
If I give you contract to build
hospital, I can’t tell you “take N1
million, I’m waiting for N2 million
tomorrow.” It’s not a way to plan
construction. You must gather
your building materials; you must
move men to site and so we
borrow from the bank. When the
money comes, the banks deduct
theirs,” he explained.
On whether he was leaving
behind a huge burden for the
incoming administration of Mr.
Akinwunmi Ambode, Fashola
said there was no such thing, but
argued that instead, the efforts
of his administration would
make governance easier for the
incoming government.
“I didn’t govern to leave
problem for my successor. And let
me say first of all that government
loses relevance when there are
no more challenges. The only
shaking up the South African
market as the first new entrant
in many years.”
“Although sales fell in
Nigeria, we improved both
revenues and margins thanks
to pricing actions in December
following the collapse of the oil
price and currency devaluation.
We are making a significant
investment to improve our
logistical capabilities and I am
pleased to report a much more
favorable fuel supply in the first
quarter of 2015.”
“We have invested for growth
in Africa and each new factory
that opens will generate good
returns for shareholders as
we deliver on our promise to
become Africa’s leading cement
company.”
Dangote Cement is Africa’s
leading cement producer
with three plants in Nigeria
and recently opened factories
in South Africa, Senegal and
Cameroon. It is a fully integrated
reason government exists is to
solve problems. I inherited my
own challenges; my successor
will inherit his own challenges.
But I can say what we expect
to see is that the job gets easier
as we move on. All of what we
have done here is to improve
the quality of what we met in
order to make it easier for the
next person.
“We have built stronger
institutions, we have strengthened
ministries, we have increased
revenue in order to meet
increasing demands, we
strengthened governance and
have given governance capacity
to respond to service needs. We
just set up a citizen relation
management platform on the
net to be more efficiently able
to respond to people using current
communication methods – the
internet and the telephone – but
every problem that we solve
creates a new problem. That is
life,” he said.
GOD TAKING CONTROL
L-R: Rivers State Governor, Chibuike Amaechi; and his wife, Judith; a state All Progressives Congress (APC) governorship candidate, Hon
Dakuku Peterside; his running mate, Mr. Asita Asita, during a special thanksgiving service by the Greater Together Campaign Organisation
to celebrate God’s faithfulness throughout the electioneering period in Port Harcourt ...yesterday
NAN
quarry-to-customer producer
with production capacity of
29 million tonnes in Nigeria
at the end of 2014.
The Cement Obajana plant
in Kogi State, Nigeria, is the
largest in Africa with 13.25
million tonnes capacity across
four lines. The Ibese plant in
Ogun State has four cement
lines with a combined installed
capacity of 12 million tonnes.
The Gboko plant in Benue state
has 4 million tonnes capacity.
Dangote Cement’s plants in
Senegal and Cameroun were
inaugurated in January this year
when they began production
and the company’s premium
42.5 grade was launched into
the markets in the two countries.
The Ethiopian and Zambian
plants have also begun
production as the company
inches close to its determination
to clock 40 million metric tonnes
per annum before the end of
2015.

66
MONDAY MAY 18, 2015 • THISDAY
NEWSEXTRA
Amaechi: Tough Times Await Wike in
Rivers
Insists security agents involved in electoral malpractice must be punished
Ernest Chinwo in Port Harcourt
Rivers State Governor, Hon.
Chibuike Amaechi, has declared
that the governor-elect, Chief
Nyesom Wike, was in for difficult
times as there would be no money
to run the state.
He stated that Nigeria was
lucky that Gen. Muhammad
Buhari won the presidential
elections, adding that his
administration would bring
the nation out of its financial
doldrums.
Amaechi spoke yesterday
in Port Harcourt at a special
thanksgiving service held by
the Greater Together Campaign
Organisation (GTCO), the
campaign outfit of the Rivers
All Progressives Congress (APC)
governorship candidate, Dr.
Dakuku Peterside.
The service, with the theme: ‘I
will bless the Lord,’ according to
the organisers, was to “Celebrate
God’s faithfulness throughout the
electioneering period.”
Amaechi said: “God answered
our prayers to save us. He also
answered our prayers to save
Nigeria. I’m not joking, we have
no money anywhere. In Rivers
State, no money. I think Nyesom
Wike is coming, we are waiting.
He will look for money for salary;
there is none. Luckily for us, we
endured these pains because we
had to pay our loans.
“We are enduring the pain
because we are paying our
loans. Maybe he is lucky because
we have paid out a lot of our
loans if not all. So, he will have
to manage. But when he pays
out salary, we will see if any of
them can do what we did in
this state: whether they can build
the schools, the roads, even to
get a loan.”
Amaechi also stated that no
security operative involved in
electoral malpractice in the last
elections in the state would go
unpunished.
He alleged that a newly
promoted Commissioner of Police,
Mr. John Amadi, who served as
Deputy Commissioner of Police
(DCP) in-charge of Operations
in the state, during the general
election, plotted to eliminate him.
His words: “I will say to all
of you that there is a man called
John Amadi, former Deputy
Commissioner of Police, who sat
down and ran a programme to
embarrass the APC and embarrass
the incoming federal government;
even after Buhari had won the
presidency. Now, to embarrass
us further, I hear he has been
promoted to a Commissioner of
Police and transferred out of Port
Harcourt. He will come back.
John Amadi will come back;
you will see. The only way he
will not come back is if we don’t
form government, but if we form
government, he will account for
his actions.
I’m Not Lobbying to Retain
Amnesty Job, Says Kuku
“After John Amadi, an
Assistant Commissioner of Police
in Khana said it is mutiny to take
on the federal government, and
sat down and fought APC as if he
was a PDP member. I don’t know
whether he has been promoted or
not, but if he has been promoted,
he will also come back. That one
does not require a judge. The
Inspector General of Police (IG)
can promote them as he wants;
he can even promote them up
Assistant Inspector-General of
Police, but they must all account
for their actions.
“John Amadi intended to kill
me and I will tell you how. On
my way to my village to go and
vote, I ran into some criminals
attacking an APC member and
I stopped. I stopped with the
intention to rescue the gentle
man and arrest those people, as
governor. I did not know that
they had given instruction to my
own security not to obey me.
“So, when I told the
policemen to arrest them, they
were just standing. On further
inquiries, I was told that we
were told not to go anywhere
they were voting. When I asked
the C4I to reinforce security,
John Amadi called them back
and asked them to leave there.
The only thing that saved me
and saved the situation was
that the Brigade Commander
sent in soldiers.
“The soldiers sent the
criminals away and the people
were speaking my language
saying, ‘somebody will die
here now’ and who was that
somebody, other than me?
My SSS men were watching,
my policemen were watching
and my life was at risk. I am
supposed to be the governor
of Rivers State; the so-called
Chief Security Officer.”
The Rivers governor however
recollected what he went
through in his quest, first to
become the Speaker of the state
House of Assembly and, later,
the governor and declared that
this was another moment of
trial for the state.
“The president-elect, General
Muhammadu Buhari, is a man
of rule of law. He will not punish
anybody without following due
process. Let us ask the incoming
federal government to punish
whoever contravened the law.
“What is happening in Rivers
State is not new; this is another
time of trial. Rivers people can
choose to pray and fast as we
did when I was to become the
Speaker.
“This is the time to call God
because without Him we are
going nowhere. I prayed and
fasted for 10 months while in
Ghana and God answered our
prayers.
“This time, though I will
join in the fasting and prayer
but I am not the governorship
candidate. My own is to thank
and appreciate God for what
I have become; from being a
Speaker to governor and now
soon a retiree,” he said.
Also speaking, the APC
governorship candidate in the
state, Dr. Dakuku Peterside, in his
testimony, said he and his party
faithful went through political
violence and turbulence during
the electioneering period and
thanked God that the casualty
was minimal.
The Chairman of the Presidential
Amnesty Programme, Hon.
Kingsley Kuku, yesterday
described as false a report in
a national newspaper, claiming
that he was lobbying to retain
his job under the incoming
administration of General
Muhammadu Buhari.
Kuku, who is also President
Goodluck Jonathan’s Special
Adviser on Niger Delta, said
the report was speculative,
highly provocative and that
of the imagination of the writer.
The Amnesty Programme
chairman said he was very
proud to serve Nigeria under
the outgoing administration of
President Jonathan and was
ready to leave with his boss
on May 29.
“As a Special Adviser and
Chairman, Presidential Amnesty
Programme, I served this country
for four years and four months
under President Jonathan. If it
was an elected four-year term,
the four months would have
been a bonus.
“I’m however proud of my
achievements and for lifting the
amnesty programme beyond
what I met on ground. I’m
leaving this office 200 per cent
better than what I inherited. I
therefore challenge my successor
to better my record,” Kuku said.
He stated further that such
reports were the handiwork of
political jobbers and spin-doctors
who had become uncomfortable
with his soaring profile and were
doing everything to tarnish his
image and discredit his record
of service to the country.
Contrary to the report, Kuku
said he had not met the All
Progressives Congress (APC)
chieftain and former Bayelsa
State Governor, Chief Timipre
Sylva, since 2012 and that the
last time he saw him was at a
wedding in Port Harcourt in
December 2014.
He also said he had not seen
the former Head of Service of
the Federation, Alhaji Yayale
Ahmed, since 2011 neither
has he held any meeting with
any APC chieftain as claimed
in the report.
“On May 29, I will leave
with President Jonathan. I
will continue to focus on my
peace and conflict resolution
assignments, which this job has
placed on my shoulders. I remain
undeterred by those embarking
on this smear campaign against
my person in order to discredit
the work we have done for this
country. My advice to all those
doing hatchet jobs, particularly
for some persons in the Niger
Delta, is for them to retrace
their steps.
“I also advise the APC
spokesman, Alhaji Lai
Mohammed, to save his breath
and his strength for the job ahead
of him rather than responding
to every illiterate comment,”
Kuku said.
PERFORING LAST MINUTE ASSIGNMENT
Minister of Education, Malam Ibrahim Shekarau (second left) inaugurating a project at the Federal Polytechnic, Nekede in Imo State...
weekend. With him are other dignitaries
Nan
Group Tasks Buhari on Criteria for Ministers,
N/Assembly Positions
Onyebuchi Ezigbo in Abuja
An anti-corruption group
operating under the aegis of
Zero Corruption Coalition has
asked president-elect, General
Muhammadu Buhari, to
ensure that all those being put
forward for key public offices
in the incoming government
are credible Nigerians without
corruption baggage.
The group reasoned that since
the fight against corruption is one
of the cardinal promises Buhari
made to the Nigerian people to
secure their mandate, he must
not compromise on the issue.
It suggested that those for
appointive positions should be
thoroughly screened if indeed
Buhari’s vision of leadership for
the country, anchored on ridding
the country of corruption is to
be realised.
In a statement issued
yesterday by Auwal Ibrahim
Musa Rafsanjani and Nwagwu
Ezenwa on behalf of seven civil
society groups, the coalition
demanded that for anyone to
qualify for public office in the
new dispensation, he or she
must have recorded high levels
of integrity both in his or her
public and private life.
According to the group, such
a person must never have been
convicted for corruption or
implicated in any corruption
case, nor have any allegation of
corruption or corruption charge
pending against him or her.
“Where such exists, the
nominee in question must first
ensure that he or she conclusively
clears himself or herself of such
allegations using existing official
channels before the process of
his or her nomination gets
on the way, including before
being presented to the National
Assembly for consideration.
In the same vein, the group
said Buhari should ensure that
the aspiring public holder must
also have declared he or her assets
publicly, adding “that this later
requirement aligns with his recent
comment, affirming commitment
to ensuring that this constitutional
responsibility is discharged by
yourself and by everyone that
would be nominated to work
with his administration, must
be done conscientiously and
made open to public scrutiny
in line with the requirements
of the Freedom of Information
(FoI) Act, 2011”.
The coalition said the
requirements should not be
applicable to only members
of Buhari’s cabinet, but also
extend to each and every person
that would be considered for
appointment into any public
office, under his administration.
It urged the incoming
government to also address all
forms of corruption in the tax
administration system, particularly
the abusive and arbitrary use
of tax incentives, leakages in
tax collection resulting in tax
avoidance, evasion and illicit
financial outflows would help
shore up domestic revenue
needed for development.
“With the successful conclusion
of the 2015 presidential election,
we heartily congratulate the
winner and president-elect,
Buhari . We believe his resilience
in keeping the faith, having a
firm belief in his vision of
leadership for our dear country,
anchored on ridding the country
of corruption, possibly spurred
him on to contesting on several
occasions for the nation’s exalted
office, until your recent victory.
“Nigerians voted for Buhari
and his party, because of the faith
and belief they have in Buhari and
his party’s mantra of “change”
coupled with his campaign
promise, to rid the country of
the cankerworm of corruption,
which in our humble opinion,
currently represents the greatest
challenge facing our dear nation.

MONDAY MAY 18, 2015 • THISDAY 67
NEWSEXTRA
Judge Asked to Hands off N5.2bn Suit
against CBN, Others
Davidson Iriekpen
Citing lack of confidence as well
as the unusual speed adopted
in the conduct of a N5.2 billion
suit filed by Dr Ted Iseghohi
Edwards against the Central
Bank of Nigeria (CBN) and five
others, the defence counsel has
asked Justice V. B. Ashi of an
Abuja High Court to hands off
the matter.
The defence led by Chief
Anthony Idigbe (SAN) in a
motion filed on May 15, is
seeking an order of court
transferring the suit marked
No. FCT/HC/CV/939/15 to the
Chief Judge of the High Court
in the Federal Capital Territory
(FCT) for reassignment to another
judge in the Abuja division of
the high court.
In the motion dated May
15 and filed the same day, a
copy of which was obtained
by THISDAY yesterday, Idigbe
queried the speed adopted by
the court in the conduct of the
suit and determination of the
various applications filed in the
matter as evidenced in the short
adjournments often sought by
the plaintiff and granted by the
court.
The motion brought pursuant
to Order 32 Rule 1 of the High
court (CIVIL PROCEDURE)
rules 2004 was supported by
an affidavit deposed to by Eric
Otojah, a legal practitioner, in
the firm of Punuka Attorneys
and Solicitors.
Apart from the application
for transfer, the defence is also
seeking an order staying the
ruling/judgment of the court to
be delivered today, pending the
determination of the motion on
notice for the transfer of the suit
and pending the appeal filed at
the Court of Appeal, Abuja.
The applicant also want an
order staying further proceedings
in the suit pending the hearing
and determination of the 6th
defendant’s appeal to the court of
appeal against the order/ruling
of the court delivered on May 14.
Also in the appeal filed last
Friday, the applicant is seeking
the setting aside of the order of
the court on the grounds that the
learned trial judge erred in law
when he refused to rule on the 1st
respondent’s (CBN) application
for amendment and held that
the ruling shall be made together
with the substantive suit.
The motion on transfer
was premised on what
the defence counsel
called observed proceedings
that the court adopted a quick
and hurried approach in the
determination of the various
applications filed in the court.
The applicant also queried
the judge’s stand that he would
not first of all rule on the various
preliminary objections filed
by the respective defendants
notwithstanding series of
applications and appeal to him to
first of all determine the issue of
jurisdiction raised in the respective
preliminary objections.
The applicant further queried
Justice Ashi’ s insistence that
all applications including the
preliminary objections be
taken and ruling/judgment
be delivered alongside the
substantive suit despite spirited
application and appeal to the
judge to vary his stand.
The counsel therefore argued
that given the sensitive nature of
the suit and the fact that the fund
in question emanates from excess
crude account, the matter should
not be handled in a hurry under
the guise of speedy dispensation
of the mater.
They also averred that on May
14, counsel to the sixth defendant
bank made spirited effort to
compel the court to vary its
stand as to the conduct of the
matter and passionately applied
to the court to first determine the
preliminary objections and the
plaintiff’s motion for amendment
in the least before proceeding
to hear the substantive suit but
the judge refused the application
for variation of its earlier order as
to taking all pending applications
and the substantive suit together.
Consequently, he argued the
court to adjourn the matter to
May 18, 2015, which technically
means the court has only 48
working hours to rush through
the processes filed to deliver its
ruling/judgment.
According to the applicant,
the judge had said in open court
that he had not read any of the
processes and yet he wants to
rule/judgment in 48 hours.
“The above stand of the judge
raises certain questions and issues
as to why the hurry especially
given the fact that hand over to a
new administration is scheduled
for May 28,” the counsel added.
Apart from the CBN,
others mentioned in the suit
filed by Dr Edwards are the
Accountant General of the
Federation, Mr. Jonah Otunla;
Minister of State for Finance,
Ambassador Yaguda, and a
second generation bank, while
Anaocha Local Government Area
in Anambra State and Incorporated
Trustees of Association of Local
Government of Nigeria were later
joined as defendants.
According to the matter,
the plaintiff claimed that in a
previous case before the Abuja
high court a certain company,
Impecca Services Limited, one of
the judgment creditors, briefed
him as counsel to recover the
outstanding balance of its
judgment debt.
Following the instruction,
the plaintiff acting as counsel,
initiated a garnishee proceeding
against the CBN, the Accountant
General of the Federation and the
Federal ministry of Finance and
the 774 local government areas
in Nigeria through their umbrella
organisation, Association of Local
Governments of Nigeria and not
against the sixth defendant bank.
The Abuja high court issued
a garnishee order absolute on
June 28, 2013, in favour of the
judgment creditors. It was the
plaintiff’s case that the court
ordered that the judgment debt
be paid through the plaintiff as
counsel on record.
Pro-Jonathan Campaign
Group Demands
Compensation
Shola Oyeyipo
A pro-President Goodluck Jonathan
campaign organisation, The 2015
Project, has threathened a legal
action to demand compensation
for its contributions to the just
concluded campaigns as a way
of paying off some of it debts.
In a statement, which was
accompanied with documentation of
some of its alleged contributions to
the presidential campaigns yesterday,
Bala Goje, who spoke on behalf of
the group, said bodies that were
not as visible as The 2015 Project
were being compensated while
they were ignored.
“We are planning a law suit
against Mr. Alaboso Joejim,
the head of the group, for
compensation. “We do not have
anything against him because I
was there and I saw him being
stranded with no help coming from
anyone and with debts owed in
millions of naira.
“However, we still hold him
responsible because he was or is
the reason for our commitments and
whatever payment or compensation
should have come through him.”
Bala, who is one of the brains
behind The 2015 Project campaign
group, lamented that it was being
neglected to the detriment of some
obscure groups, after the elections.
“The President Goodluck
Jonathan’s Ijaw ethnic group was
given N155million to share when
a pro-Jonathan campaign group,
which I worked for, The 2015 Project
was abandoned after months-inmonths-out
of consistent contribution
to the campaign processes,” said.
He alleged further that while they
had proofs to show their efforts
at contributing to the success of
the president second term bid,
which he eventually lost to General
Muhammadu Buhari of the All
Progressives Congress (APC), the
Ijaw group, which he claimed was
given N155m, does not have an
office
“I can categorically say that
this supposed group has no
office to trace their activities to
or any influence heard of. We
worked tirelessly, day and night;
professional workers in the media,
lawyers etc. about 25 of us left their
engagements, committed time to
this course with no compensation
whatsoever.
“Several times we tendered
complaints about neglect to
our patrons who are members
of the political elite but without
any response. No one said a thing
or even raised a finger. Complaints
was sent to Mrs. Diezani Alison
Madueke’s office and others, but
we didn’t get any reply.
“For eight months we worked,
slept on the floor, eat next to
nothing but still believed that
there will be light at the end of
the tunnel, but it’s still dark. I am
almost tempted to say and start
believing that there is some fraud
in this,” he noted.
PHONE FOR ALL
L-R: Managing Director/CEO, Osun State Investment Company, Mr. Bola Oyebamiji; Managing Director/CEO, Airtel Nigeria, Mr. Segun
Ogunsanya; Osun State Governor, Mr. Rauf Aregbesola; CEO, RLG Global, Mr. Alex Lu; and Regional Director, Mr. Tosin Ilesanmil, during the
launch of RLG phones assembled in Adulawo Technology City, Ilesha, Osun State... recently
CNPP Backs Buhari on Emergence of N/
Assembly Leadership
Onyebuchi Ezigbo in Abuja
The Conference of Nigerian
Political Parties (CNPP) has
expressed support for the
president-elect, Muhammadu
Buhari’s decision not to interfere
in the choice of the leadership of
the National Assembly.
It said any attempt by the
president-elect to endorse a
leadership for the legislature
would be antithetical to the
growth of democracy and
constitute a distortion to
the country’s parliamentary
democratic practice.
In a statement issued by its
National Publicity Secretary, Osita
Okechukwu, the CNPP urged
the president-elect to work with
the National Assembly not only
to enact law on whistle blowers
but also to fashion out how to
cut the cost of governance across
board, which is the costliest in
the world.
“We acclaim his stand-point
that he is not endorsing anybody
for the principal offices of the
National Assembly such as the
senate president and speaker.
Endorsement is antithetical to
the growth of democracy and
distorted our parliamentary
democratic practice since our
return to civil rule.”
CNPP urged the president-elect
to stick to his avowed stance
against corruption in order to
prevent the scourge from derailing
the country.
“We are re-stating our position,
because we have noticed some
looters of our commonwealth
milling around the Defence
House, the temporary office of
president-elect. To compound
matters, pundits are pushing
the narrative that Buhari should
let bye-gone be bye-gone and
move on, accommodate all
in his cabinet, hence a unity
government. The unity
government if necessary should
be devoid of corrupt men.
“Whereas, courtesy demands
that the good, bad and ugly
will pay courtesy call on the
president-elect; however it is our
considered view that some of
these looters should be kept at
bay. These are the same ignoble
men who wittingly misled
President Goodluck Jonathan,
who grow mega-rich, widen
the inequality in the land and
pushed the greatest number to
abject poverty.
“For us, Nigerians voted for
Buhari on two broad social
contract unambiguously stated
in his covenant with Nigerians
- corruption and security. These
are the integrity premium on which
our votes are anchored and we take
solace on the truism that Buhari
cannot risk dashing the hopes of
Nigerians.
“History posits that the past must
be probed in order to not only
recover the huge billions stolen
from our commonwealth, but
to also act as deterrent to others,
who are lurking in the wings to
continue the pervasive corruption
in the land.
On Buhari’s pledge in his
covenant with Nigerians to
inaugurate the National Council
on Procurement, we page with
him; albeit we propose that the
headship and membership of
the council be amended before
composition. Recent experience
shows that the absolute powers
wielded by the out-going Finance
Minister, Dr Ngozi Okonjo-Iweala
allegedly corrupted her absolutely
and made a mess of the two
regimes she served in the last
decade.
“It was a case of an innocent
novice zoologist entrusting
much economic powers on
a highly celebrated World
Bank Economist and looking
the other way, in the hope that
she knows best what is good for
Nigeria. There is no need to repeat
this ugly experiment, because
it is too costly and damaging.
CNPP suggested that the
National Council on Procurement
should be headed by those whom
the president-elect has implicit
confidence on, manning no
ministry, department or agency,
except the council. There should
no distraction.

68 MONDAY MAY 18, 2015 • THISDAY
NEWSEXTRA
Start Your Anti-corruption Campaign with
EFCC, Uboh Tells Buhari
Tobi Soniyi in Abuja
An anti-corruption crusader and
Chief Executive Officer of Panic
Alert Security System (PASS), Dr.
George Uboh, has called on the
president-elect, Major General
Muhammadu Buhari (rtd), to
start his anti-corruption crusade
with the Economic and Financial
Crimes Commission (EFCC).
In a memorandum submitted
to Buhari, a copy of which was
obtained by THISDAY Uboh
alleged that the commission sits
on hundred of billions recovered
from perpetrators of corruption but
refused to remit the funds to the
federal government as required
by law.
He said he was compelled to
write to the incumbent president,
Dr. Goodluck Jonathan drawing his
attention to the alleged atrocities in
the EFCC but said that Jonathan
did not do anything.
Excerpt from the letter read:
“In view of your commitment
to integrity, we are of the view
that the first place to start your
anti corruption campaign is the
EFCC.
“First, such a move will boost
the public’s confidence in your in
herent desire to fight corruption.
Second, many people who had
been silenced by EFCC using
gestapo-style powers will come
forward to testify.
“Attached herewith are:
the documents we sent to the
president, to wit: open letter to
the president and 51-count criminal
charges against the present and
former leadership of the EFCC
and all aforementioned documents
germane to Bayelsa/EFCC saga;
we are ready, willing and able
to tender boxes of documents to
prove each and every count of
the 51-count criminal charges.”
He cited the case of Bayelsa State
where EFCC claimed in its exhibit
record that the amount recovered
from a former governor of the
state, DSP Alameyesiegha and due
for remittance to the state was
N4,152,344,643 and USD1,300,000.
He said: “As at 18/01/2010
when EFCC remitted
N3,128,230,294.83 to Bayelsa state
vide EFCC recovery account NO.
002-00893-s41-01-7 with CBN.
Consequently, EFCC still owed
Bayelsa state N1,484,965,806 and
$1,300,000 as at the time of the
remittance.”
According to him, what is
recorded in EFCC’s exhibit book
is a fraction of what was taken
from DSP. Most of the cash and
assets seized from DSP abroad
by the EFCC never declared on
the exhibit record.
He recalled in the letter that the
incumbent governor of the state
mandated him to recover from
EFCC the outstanding money
recovered from Alameyesiegha
following which he wrote the
commission and the commission
agreed to meet him.
“At the meeting, Mr Lawrence
Iwodi, EFCC Head of Asset
Forfeiture agreed to refund the
said balance before the beginning
of 2014.” Uboh explained to Buhari
that EFCC using a gestapo-like
style coerced the state governor to
withdraw the mandate to recover
the fund.
According to him, EFCC did
not deny holding on to funds
belonging to Bayelsa but rather
threatened the state governor
who wrote to him terminating
the mandate given to him to
recover the withheld funds.
The letter further reads: “We
wish to bring to your attention
the urgent need to start your anti
corruption campaign with a probe
of the EFCC.
“Although, EFCC withheld
funds belonging to the federal
and some state governments,
we decided to start from Bayelsa
State, the president’s own state. “
Kwara Group Urges
Nigerians to Support Saraki’s
Senate Presidency Bid
Sunday Okobi
A group of Kwaran State elite,
comprising various professionals
including Islamic scholars, has
expressed support for the senate
presidency ambition of the former
Governor of the state, Senator
Bukola Saraki, calling on Nigerians
to also support his bid.
The group which organised
a special prayer in honour of
the senator at a central mosque
at Obalende, Lagos, recently
commended everybody who
attended section and prayed to
Allah to accept all the offered
prayers to soften the minds of
all other distinguished Senators to
vote, accept and support Saraki’s
ambition.
The Chief Imam of the
Mosque Al-Sheik-Al-Islam,
Alhaji Babatunde Shehu, prayed
to Almighty Allah to protect, guide
and elevates the senator above his
pears especially as he pursues the
senate president seat.
Also, the spokesman for
the organising group, Alhaji
Mohammed K. Dauda, said Saraki
is the most qualified distinguished
senator to man the number three
Support Akume’s Bid for Senate
President, Mark Told
Adebiyi Adedapo in Abuja
Political leaders from Benue
State, under the aegis of Benue
Rebirth Initiative, have appealed
to the Senate President, David
Mark, to support Senator George
Akume as his successor.
The group in a communiqué
issued at the end of their
inaugural meeting at the
weekend in Abuja, jointly
signed by Joe Ikyaagba and
Sam Ode, identified the key
issues which have continued
to drag the state backward
particularly in the national
stage.
According to the
communiqué, an average
Benue man sees his fellow
brother as an enemy, as the
group thereby appealed to all
seat of the country “because he is
well read, exposed, experience and
capable to stand up at all times
for the interest of common men
and the nation at large.”
Dauda said it was Saraki
who first raised the issue on oil
subsidy, and also led the defected
Peoples Democratic Party (PDP)
governors about a year ago to All
Progressives Congress (APC). This
action, he said: “Helped APC a lot
in getting to where they are today
and it also led to the beginning
of PDP destruction. He delivered
Kwara State and the Middle Belt
to the APC as demonstrated in
the presidential election for the
first time in history.
“Finally, no Kwaran has
ever been opportune to assume
this position since inception of
democracy in Nigeria, and we
therefore appeal to the entire senate
members to give Saraki and all
Kwarans the necessary support
to win the prestigious seat.
“We implore all Nigerians
especially the Senators to rise
and support him in his bid for
the highest seat in the National
Assembly. May Allah make this
a reality for us all, amen.”
stakeholders to sheath their
sword and embrace unity of
purpose.
The political leaders in the
state also want Mark to take a
clear stance on the race to the
senate presidency, saying his
position was important and that
his support would add value
to Akume’s emergence as the
next senate president.
“We enjoined our brother who
have walked this road before
and has built the necessary
bridges to enable his fellow
brother continue.
It is imperative that at this
auspicious time where his silence
means so much, we expect that
he takes a definite stance just as
he is not known to be one who
sits on the fence,” the Benue
group appealed.
WHAT ARE YOUR AREAS OF NEED?
L-R: Assistant Inspector General of Police (AIG), Zone 9, Umuahia, Mr. Usman Gwary; Inspector General of Police (IG), Mr. Solomon Arase;
and Anambra State Governor, Chief Willie Obiano, during the visit of the IG to the Governor’s Lodge, Awka... weekend
Aregbesola Lauds Airtel’s
Contributions to Job
Creation
Osun State Governor, Rauf
Aregbesola, has commended
Airtel Nigeria for its support to
local content development, saying
the telecommunication is helping
to power the state’s job creation
drive.
The governor who was speaking
yesterday at the RLG Product
Discovery Day held at RLG
Adulawo Technology City, an
expansive technology city located
along Ilesa-Akure Expressway,
Osun State, said Airtel had thrown
its full weight in support of local
content development, establishing
retail footprints across the country
and boosting job creation.
“Airtel has supported a
significant breakthrough for
the Adulawo Technology City,
supporting the provision of jobs from
end-to-end – from the technicians
in the Adulawo Technology City to
those working in the Airtel retail
pipeline,” he said.
Describing the multi-million
dollar technology city initiative
as a historic monument to the
power of vision, the governor
also revealed that the tech city
had, in the last one year, provided
direct employment to 150 Osun
indigenes and was poised, within
the next phase of its operations,
to provide employment to 1,500
sales persons, who would man
kiosks and other sales outposts
for RLG products.
According to him, the RLG
plant are manned by graduates
of the Osun Youth Empowerment
Technology (OYESTECH) trained
by RLG, and were the ones who
assembled the beautiful products
displayed by the tech company.
Thanking those in attendance,
the governor stated that the Osun
flagship e-learning device, Opon
Imo would be manufactured from
the plant to fulfill the needs of the
public schools in the state after
which, orders from other states
will be entertained.
Also speaking at the event,
the Chief Executive Officer and
Managing Director of Airtel
Nigeria, Segun Ogunsanya,
said Airtel believes strongly in
supporting local development and
in providing more opportunities
for job creation.
According to him, the company
has invested enormously in
building a large eco-system for
local content initiatives through
its broad-based programmes and
initiatives.
“Interestingly, the youths are the
biggest beneficiaries of our local
content initiatives. Only recently,
we floated an initiative, Catapulta-Startup,
with the overriding
idea of providing youths with a
strong platform, robust funding
and right partnerships to build
local applications that will help
transform lives, shape public
service and build a better society
for all of us.”
Oil Platform: Ijaw Youths
Draw Battle Line
Segun Jams in Yenagoa
The Ijaw Youth Council
(IYC) yesterday reacted to
the controversy between the
presidency and the owners of
the multi-million dollars Egina
Floating Production Storage
and Offloading (FPSO) facility
over the decision of the federal
government to relocated the
fabrication activity from LADOL
yard in Lagos to Agge in Bayelsa
State
The youths said they would
not allow materials fabricated in
Lagos to be used on the platform
in the Niger Delta region.
The IYC reaction was
subsequent to the interim order
of the federal high court in Lagos
stopping the federal government
from implementing the directive.
According to the IYC in a
statement by its spokesman,
Eric Omare, “We want to
make it clear that whether court
injunction or no court injunction,
we would not allow materials
to be fabricated in Lagos and
used to build oil platform in the
Niger Delta region. The region
has been taken for granted for
too long and we would no longer
accept it.
“The IYC and indeed the Niger
Delta people back the directive
of President Goodluck Jonathan
to move the fabrication of oil and
gas materials to the Niger Delta
region where the eventual job is
to be done. We also support the
directive to move oil and gas
cargoes to only ports in Warri,
Calabar and Onne. This is not
only in line with the requirement
of the local content law but is
also makes so much economic
sense.
“It is common knowledge
that Lagos is highly congested
and there is need to move some
class of cargoes especially oil and
gas materials to ports within the
Niger Delta region where the
oil facilities are located.
“We consider the opposition
to the presidential directive and
the attendant media propaganda
by the Lagos cabal as an insult
on Niger Deltans. It is on record
that all the oil companies operating
in the Niger Delta region have their
offices in Lagos to the detriment of
the Niger Delta economy.
“Henceforth, Niger Deltans would
take steps to ensure that any oil
company without its headquarters
in the region would not be allowed
to operate in the region. The IYC
frowned and condemn the ex-parte
order of the federal high court.”
The group further said: “We
wonder how the federal high court
would hurriedly grant such an order
without giving opportunity to other
parties to present their own side of
the case. We question the swiftness
of the order of the court and call
on the National Judicial Council
(NJC) to investigate the judge
who granted the order.”

MONDAY MAY 18, 2015 • THISDAY 69
NEWSEXTRA
Eviction: Nwobodo Criticises Court Verdict, Says
It Erred in Law
Adedayo Akinwale in Abuja
Following a court injunction by
a Federal Capital Territory High
Court in Abuja, ordering him to
vacate his rented apartment in
Maitama, the former governor
of old Anambra State, Senator
Jim Nwobodo, has criticised the
verdict, saying the court erred
in law.
Counsel to the former senator,
Amobi Nzelu, disclosed this at
a press briefing yesterday in
Abuja, where he revealed that
his client had been residing in
the property situated at 24 Ona
Crescent, Plot 768 Cadastral Zone
A5, Maitama, Abuja since 2001.
He stated that he was surprised
that the respondent decided to
release the judgment to the press
after two months, while refusing to
inform the media that he had gone
to appeal against the judgment.
The plaintiff, Adin Miles
International Limited, had
sometime in 2008 bought the
property from one Alhaji Al-
Mustapha Abubakar who had
earlier leased the property to
Nwobodo.
According to Nzelu, “It is not
about non-payment of rent as was
wrongly reported in the media.
My client was ready to pay rent.
He was negotiating for an outright
sale. The man that bought this
property is a fellow Igbo man
and knew that my client was
occupying this house and that
he was his former governor.
“Despite knowing these facts, he
still went behind and bought the
property, and then told his lawyer
not to disclose his identify to my
client. That was what happened.
A Yoruba man will not do this to
his brother, an Hausa man won’t
do this to his brother. My client
had an agreement with the person
that sold the house. We do not
have any business with the new
buyer. I have raised the issue in
court, but the Judge closed his
eyes on these issues,” he added.
In an appeal with suit No. FCT/
HC/CV/80/2011 and filed at the
Abuja Division of the Court of
Appeal by his counsel (Nzelu), the
ex-governor asked the appellate
court to set aside the judgment
of the lower court delivered on
March 25 2015 by Justice Suleiman
Belgore, in favour of the plaintiff,
Adin Miles International Limited.
He noted: “The learned trial
Judge erred in law when he
failed to appreciate the fact that
for title to vest in any person who
Nwoga: Why Enugu APC is
in Crisis
Christopher Isiguzo in Enugu
A chieftain of the All Progressives
Congress (APC) in Enugu
State and Enugu East Zonal
Vice-Chairman, Anike Nwoga,
yesterday attributed the cause of
the lingering crisis rocking the
party in the state to the intense
lobby for federal appointment
in the incoming administration
for president-elect, Muhammadu
Buhari, accusing the party’s
chairman in the state, Ben
Nwoye, of running the party
as a personal empire.
He also faulted the recent
courtesy visit by a faction of the
party to the former Minister of
Power and a Peoples Democratic
Party (PDP) chieftain, Professor
Bart Nnaji, noting that the visit
was not endorsed by the party’s
State Working Committee (SWC).
Addressing journalists
yesterday, Nwoga maintained
that there was more to the visit
than the eye could see, stressing
that if indeed the party wanted
to embark on membership drive,
it must not start with PDP
chieftains.
“We are not against the visit
to Professor Bart Nnaji. He is
our son. He is a son of Enugu
East senatorial zone and he is a
son of Enugu State and son of
Nigeria, a prominent one. We
are not against any visit to him
or any other prominent person
in the zone.
“But what we are against is the
way it was done. Ben Nwoye,
who is the Chairman of the
party went on his own without
telling anybody. The SWC is not
aware. The SEC is not aware. This
happened on the ninth of this
month. Then on the 11th of this
month which was Monday, we
had the state executive meeting,
an enlarged one.
“And when we were meeting
at the office of the state chairman,
the matter came up. Many of us
opposed that visit. As we were
holding that meeting, they had
planned to visit Jim Nwobodo
after the meeting. We said no,
that we object to it. Why should
he be visiting people who are
PDP members? Are they APC
members? He should know why
the visit is going on,” Nwoga said
The Vice-Chairman said even
if they wanted to visit people
in Enugu State, the first person
he thought APC Enugu State
should be grateful to and pay
a courtesy visit is Chief Maduka
Onyishi, the owner of Peace Mass
Transport, who provided them
shelter.
Nwoga recalled that Onyishi
provided the State and local
government offices which they
are occupying now until he left
them and went back to his PDP
when they threatened him.
Nwoga said they also owed a
lot to Chief Onyemuche Nnamani
who put in big money in the
Buhari campaign and donated
more than 16 of his vehicles,
branded with Buhari and his
deputy, Yemi Osinbajo.
“These are people we should
pay courtesy visits and it must
be discussed. But because Ben
has been running the party as
his private company. He does it
the way he wants. That is why
we were against this visit. We are
not saying that anybody should
not enter the party. APC belongs
to everybody. But the question
is; these VIPs that want to enter
now, where were they when we
were suffering?”
He advised the chairman to
heed the timeless adage that
charity should begin at home
and forthwith desist from using
Professor Barth Nnaji and Chief
Jim Nwobodo as canon fodder
for the crisis in the party.
purchase a property in Abuja, the
consent of the Hon. Minister of
the FCT, Abuja must be sought
and obtained and this failure
occasioned miscarriage of justice.
“The learned trial Judge erred in
law when he entered judgment in
favour of the respondent without
seeing any deed of sale nor deed of
assignment nor power of attorney
and this occasioned miscarriage
of justice,” Nzelu stressed.
He revealed further that the
Judge also erred when he assumed
jurisdiction to hear and determine
the case in the absence of valid
documents that would vest/cloth
the court with jurisdiction.
Nzelu explained that, “we
have been in possession of this
property for a long time and the
owner made an offer to sell it. He
now went behind and picked up
this property. My client went and
discussed with this man. He even
added N30 million to what the
man originally paid to acquire it.
When we took over this property,
it was in a bad shape.
“We now went to court and
the judgement was to come up
in January this year, but it was
deferred till March 25 because of
the judiciary workers’ strike. The
man that went is not the original
owner of this property. There was
no breach of agreement between
my client and him and they are
not my client’s landlord. There was
no deed of sale on this property
before they went to court. There is
no agreement between my client
and the man that went to court.”
Nwobodo pointed out that, six
days after the judgment, specifically
on March 31, he appealed against
it adding that the respondent was
served the processes and motion
for stay of execution, for which
his counsel responded.
He prayed for “an order of
this Court allowing this appeal
and an order of this Court setting
aside the judgment of the trial
Court delivered on March 25,
2015.”
CONGRATS SIR
An All Progressives Congress (APC) leader in Delta State, Mr. Emmanuel Ewherido, in a handshake with the president-elect, General
Muhammadu Buhari, during the Delta State APC’s visit to Buhari in Abuja...recently. With them is the Delta State APC governorship
candidate, Olorogun O’tega Emerhor
Speakership: North-east Legislators Concur on
Gbajabiamila-Monguno Ticket
Muhammad Bello in Abuja
The quest by the Minority Leader
of the House of Representatives,
Femi Gbajabiamila ( APC Lagos),
to become the Speaker of the 8th
House got a significant boost
as the North-east caucus in the
House openly supported him
at the weekend.
The new ballgame that arose
from the development was also
a drive towards a partnership
between Gbajabiamila and
Hon. Mohammed Tahir
Monguno (APC, Borno).
The caucus agreed to do this
at the close of a meeting at the
weekend in which members from
five North-eastern states were
present.
If the proposal pulls through,
it means Monguno would
step down from his contest
for the number four seat and
run as Deputy Speaker with
Gbajabiamila. It will also mean
that the duo have so far secured
more than 50 votes preparatory
for the June 6 election.
This will reduce the number
of aspirants for the number one
position to eight. The candidates,
so far are: Gbajabiamila, Hon.
Abdul-Mumini Jibrin (APC,
Kano), Hon. Yakubu Dogara
(APC, Bauchi), Hon. Pally
Iriase (APC, Edo) and Prof.
Mojeed Alabi (APC, Osun).
The others are: Hon. Israel
Famurewa, Hon. Adams Jagaba
and Hon. Muhammad Gudaji
(APC, Jigawa).
A couple of weeks ago, 20
out of the members of the
North-central caucus resolved
openly to support Gbajabiamila.
They signified their intents by
taking paid advertisements to that
effect in some national dailies.
Apart from these and other
northern elements drumming
support for Gbajabiamila to
become the next Speaker of the
House, some individual new and
old members of the House from
the North-west and other states
are not left behind.
Some of them are: Aliyu Madaki
(Kano State), Muhammed Sani
(Bauchi State), Magaji Aliyu
(Jigawa State), Ahmed Kaita
(Katsina State) and Abdullahi
Garba (Niger State).
All of them were unanimous
in their views that a vote for
Gbajabiamila is a reciprocal
gesture to the people of the
South-west zone who voted in
large numbers for President-elect,
Gen. Muhammadu Buhari.
However, Monguno, who
had a marathon meeting with
legislators from his zone, the
North-east, mobilised 36 out
of the 48 members from the
region’s caucus, after meeting
in Abuja, resolve to back him
and also support Gbajabiamila.
This is in anticipation of a
possible ratification of the APC’s
proposed zoning arrangement
which as at now points to the
position of Speaker being given
to the South-west.
Members-elect from the Northeastern
Caucus who endorsed
the duo of Gbajabiamila and
Monguno are: Sadiq Ibrahim,
Yusuf Buba, Abdulraman Shaibu,
Philip Gutuwa, from Adamawa;
Muhammed Sani Abdu, Lawal
Yahayah, Tata Omar, Isa Hassan
Mohammed, Ibrahim Baba,
Mohammed Gololo, Salisu Ningi,
Musa Aliyu, Ahmed Yarima,
Adamu Gupai, from Bauchi;
while Mohammed Nur Sheriff,
Mahmud Lawan, Mohammed
Sanda, Dr Asabe Bashir, Mallam
Bukar Gana, Abdulkadir Rahis,
Ayuba Mohammed Bello,
Mohammed Tahir Monguno and
Jibrin Satumari are from Borno.
The remaining lawmakers
who appended their signatures
to the document supporting
the Gbajabiamila-Monguno
partnership are: Khamisu Ahmed
Mailantarki, Binta Bello, Ustaz
Yinus, Umar Barambu, Ali Isa
JC, from Gombe; as well as:
Goni Bukar Lawan, Khadija
B.A. Ibrahim, Ismaila Gadaka,
Yau Galadima, Sidi Yakubu and
Sabo Garba from Yobe State.
It was learnt that legislators
from Taraba State stayed away
from the week-long meeting
which was segmented into three
during the week and held at
Transcorp Hilton hotel in Abuja.
Hon. Goni Bukar Lawan
(Yobe), told journalists after
the meeting that their decision
was predicated on the subsisting
political reality in the country
in addition to the fact that in
advanced climes when the
minority party ascends to become
the majority party, the Minority
Leader automatically becomes
the Majority Leader too.
He explained: “We cannot
look for any leader, because
even before we took over the
government he was our leader,
and today we’re in the position.
That’s why we decided to take
our leader, Femi Gbajabiamila,
to be our Speaker, and for Hon.
Mungonu to be our Deputy
Speaker by the grace of God.”He
said Monguno’s decision to step
down was informed by the
counsel of Governor Kashim
Shettima of Borno State. “We
have a project before Yobe
State. Senator Ahmed Lawan
is pursuing the position of Senate
President of this country, in that
respect we cannot have one state
produce two candidates, one
looking for the post of Speaker
of the House of Representatives
and another Senate President.”
“For us that’s not in order.
That’s why after the consultations
and discussions, we arrived at
supporting Femi Gbajabiamila
when the party zones the
speakership to the South-west.
“Whatever position I am
looking for, I should step it
down. We are now one and
all of us are working for the
progress of the North-east.”

70 THISDAY•MONDAY MAY 18, 2015
MONDAYSPORTS
Group Sports Editor Duro Ikhazuagbe
Email duro.ikhazuagbe@thisdaylive.com
IAAF DIAMOND LEAGUE
Okagbare Takes the Gold in Shanghai
Duro Ikhazuagbe with agency
report
Africa and Commonwealth
sprint champion, Blessing
Okagbare, sign-posted what
to expected at this year’s
IAAF World Championship in
Beijing, China when she won
the Shanghai leg of the 2015
Diamond League yesterday.
Okagbare did it easily, beating
last year’s world leader, Tori
Dinkesa Blames Poor
Okpekpe Race Outing on
Hot Weather
Duro Ikhazuagbe
Three-time Obudu Mountain
Race champion, Ethiopian Abebe
Dinkesa at the weekend blamed
his inability to finish in the top
20 of the 3rd Okpekpe 10km
Road Race on the hot weather
condition of the day.
Abebe who along with his
Ethiopian Dawi Fikadu were
tipped as favourites for the
Okpekpe $25,000 top prize
failed to reproduce the feat
that made him a household
name in half marathon in the
continent. Fikadu placed ninth
in 30:18mins in the race Kenya’s
Alex Korio Olotptip won with
29:20mins while Ethiopia’s Leul
Gabrasilasis (29:22) and Amos
Muteh of Kenya (29:24) were
second and third respectively.
Dinkesa told THISDAY while
receiving treatment from medical
personnel that the weather was
too hot for him.
“You see (pointing at his
soaked top, short and aching
leg) not good. Hot weather, bad,”
muttered Dinkesa who finished
as first runner behind Kenya’s
Kemboi Hilary Kipkorir on this
same course last year.
Asked if he was coming
back next year, he smiled and
nodded in affirmation. Of course
the $25,000 top prize money
appears too tempting to ignore
in just a 10km race.
But before then, the 2008,
2010 and 2012 Obudu Mountain
Race champion admitted
he would return to Nigeria in
late November to hunt for the
dollars on offer in Obudu Resort.
“I will come to Obudu.
Weather better than this,”
stressed Dinkesa with finality
as he was been chaperoned into
the assigned bus for the invited
foreign athletes by Nigeria’s best
quarter miler of all times, Falilat
Ogunkoya-Omotayo
In the female category of the
Okpekpe race, Kenya’s Tanui
Nkele led the strong field in
33:34 to claim the top prize while
her compatriots Rino Ripo (33:52)
and Mary Wasera (34:31) made
it a 1,2,3 clean sweep for the
visitors from Nairobi.
The first prize winners in both
the male and female categories
went home with $25,000 each,
while the second and third prize
winners got $15,000 and $10,000
each in both the male and female
categories.
Edo State Governor, Adams
Aliyu Oshiomhole, fresh from
marriage with his Cape Verdes
Bowie, by almost a metre, 10.98
to 11.07. Jamaican Olympic
champion Shelly-Anne Fraser-
Pryce trailed home in fifth place.
“My race was pretty good,”
Okagbare said after the race. “It
is not easy to compete with the
best of the world – but I won. I
focused on my start. Normally
I don’t have the best start, but
now I was leading from the
beginning.”
Barely a fortnight ago, Okagbeau,
Lara, the previous day
finished top in the VIP race in
88 mins.
“I want to congratulate myself
just as the winner congratulated
himself because doing the 10km
after all the activities of yesterday
(his marriage ceremonies) reassured
me that I am still fit. I
want to congratulate all those
who have participated in this
year’s edition. I congratulate of
course those who are going away
with prizes, but we should even
congratulate more those who are
not going away with prizes but
who participated in this exercise.
I think I am one of those who
will not be going away with a
prize in spite of my effort,” joked
Oshiomhole who was very happy
for the international exposure the
race has created for him and the
Okpekpe community.
“I am excited that Okpekpe
community is not only now on
the world map but people from
various parts of the world, from
various countries from various
continents are now participating
actively in what has become
known as the Okpekpe Annual
10Km race and we saw that this
year we have more participants
than previous years and by logic,
we will expect that every year,
more and more people will
participate in it,” he noted.
Oshiomhole insisted that his
administration’s investment in
opening up rural Edo State
communities through massive
construction of modern roads
has continued to yield positive
results.
“For me, this is one practical
way to remind all of us that there
is life outside urban city and that
the real Nigerians, the forgotten
majority are in our rural areas. So
Okpekpe people I congratulate
you for playing host to all of
us,” concludes the Edo State
chief executive who also used
the occasion to call on those in
the hospitality industry to come
over and invest in hotels and
other areas in the sector.
42 athletes from 15 countries
participated in the 3rd Okpekpe
race that received IAAF Bronze
Label status late last year.
Amongst the dignitaries that
watched the race was Mrs
Lara Oshiomhole, the newly
married wife of the Edo State
governor Nollywood stars
like Kanayo O. Kanayo,
Desmond Elliot, Aki and
Pawpaw famed actor, Osita
Iheme, Mbaka Ofia Afuluagu
and several others.
bare, led the Nigerian quartet
of Regina George, Dominique
Duncan and Christy Udoh, to
win the 4x200m gold of the
Bahamas Relay.
Fraser-Pryce was not
overly concerned with her
11.25 opener.
“It was one of those races,”
she said. “I have time to get
it right.”
Asked if she would now have
L-R: Edo State Governor, Adams Oshiomhole; Kenyan runners, Amos Mitel and Korio Alex Olotptip; Leul Gabrasilasis of Ethiopia and Representative
of the Group Managing Director/CEO of Heritage Bank, Mr. Ifie Sekibo at Okpekpe, Mr. Emeke Anene at the prize presentation
ceremony of the 3rd Okpekpe 10km Road Race…last weekend
CBN Tennis Main Draw Serves off Today
After two days of qualifying
rounds, the Main Draw of the
37th Central Bank of Nigeria
Senior Open Tennis Championship
will get underway today
with no fewer than 40 players
listed for action.
Nigeria Tennis Federation
Secretary General, Gloria
Ekwepmu disclosed that the men
are to compete in the round of
64 while the main draw for the
NESTLE MILO BASKETBALL
her work cut out in defending
her title in Beijing later in the
year, Fraser-Pryce said: “I always
have my work cut out. No
one hands anything to you.”
Jeff Henderson led the men’s
long jump from the first round
to the fifth, his 8.26m coming
on his first attempt.
Russian Long Jump star,
Aleksandr Menkov, worked
his way into contention, his
ladies is 32.
There will also be a round of
32 for the men’s doubles while
the ladies will compete in round
of 16.
Ekwempu stated that everything
is set for what would be a
memorable championship which
is featuring a high number of
participants.
“As it has been the tradition,
we got a very high number of
winning jump coming in the
fifth round. Both Chinese
jumpers had their best efforts
in the fourth round in
a competition that swung any
number of ways.
Olympic champion Greg
Rutherford finished seventh
with 8.05m on his first-round
attempt, his lowest placing
in a final since July 2012. The
remainder of his series was
entries and we are glad that the
qualifying matches are almost
completed, she said on Sunday
afternoon,” she said.
Meanwhile, Nigeria’s secondranked
female player Sarah
Adegoke is confident she can go
all the way to claim the top prize
in the singles to help her reclaim
her top ranking which she lost to
Christy Agugbom late last year.
Adegoke fell to debutante
four fouls and a run-through
6.52m.
Caterine Ibarguen led the
women’s triple jump from
start to finish, showing remarkable
consistency early in
unpredictable wind conditions
– 14.68m, 14.70m, 14.68m
and 14.71m on her first four
jumps, before nearing her
world lead with 14.85m in
the fifth round.
Elizabeth-Garos- Pam in the
semifinal last year and Pam went
on to lose to Agugbom which
saw her rose considerably on
the rankings.
“I’m in good shape and I’m
looking forward to win the CBN
which has been my long-term
dream,” she said.
The men and women’s champions
will receive N700, 000 while
finalists will get N500,000
Yejide Girls Set, as Lagos, Oyo Dominate
Western Conference
Yejide Grammar School Ibadan
Oyo State, which has picked the
first semi final ticket in the girls
category at the ongoing Western
Conference playoffs in the Nestle
Milo Secondary Schools Basketball
Championship taking place in
the indoor sports hall of Liberty
stadium, Ibadan.
The hardworking Ibadan side
defeated Queen Elizabeth School
Ilorin, Kwara State 53-05 points.
Team coach, Yemi Abiodun,
praised his girls for their resilience:
“I asked my players to take it
easy and play their normal
game without underrating the
opponent,” he remarked after
the match.
Also Zeal College Otta, Ogun
State silenced highly rated
Ugborikoko Secondary School
Warri, Delta state by 10-08.
In the other quarter final
matches, Anglican High school
Ado Ekiti, defeated Regina
Mundi Girls Secondary school,
Iwo, Osun State by 52-05, while
Wesley Girls Senior of Lagos state
over powered Queen of Rosary
CollegeOnitsha, Anambra state,by
56-08.
The semi final matches are
billed for today at the same venue
with hosts, Yejide Grammar School
Ibadan confronting Wesley Girls’
Senior Lagos, While Zeal College
Otta,representing Ogun State, will
take on Anglican High School
from Ekiti State.
In the boys’category, Don Domingo
Secondary School Warri, defeated Ado
Grammar School Ekiti by 28-15, while
Government Secondary Ilorin, Kwara
State sent host boys Loyola College
Ibadan packing by 37-33. Lagos
and Ogun state walked over their
opponents from Anambra and Osun
State respectively in the other quarter
final match. The Anambra and Osun
boys teams were disqualified during
the screening exercise.
The semi final pairings in the boys
category are Lagos versus Kwara in
first semi final game and Ogun State
versus Delta state also today.
Leopards Devour Warri
Wolves in Congo
Nigeria last team standing in
continental campaign his year
Warri Wolves yesterday lost 0-3 to
Congolese club, AC Leopards in the
first leg of their playoff round tie in
the 2015 CAF Confederation Cup.
Wolves started in lethargic fashion
at the Denis Sassou Nguesso
Stadium, Dolisie and were soon
trailing as Mohamane Cisse
smacked home in the seventh
minute.

THISDAY•MONDAY MAY 18, 2015
MONDAYSPORTS
71
2014/15 SEASON
Pillars, Enyimba Win on the Road as the
Big Boys Signal Return
Glo Premier League ‘big boys’,
Kano Pillars and Enyimba
International showed up on the
road claiming all three points in
their respective fixtures on Match
Day 9 yesterday which saw leaders,
Sunshine Stars grinding out a draw
in Lafia. Sunshine Stars are now
tied on points by Gabros FC and
Wikki Tourists, 1-0 winners in their
home games that brought their
total tally to 17 points.
Four home wins, two wins on
the road, three draws and a total of
13 goals including two own goals
summed up activities of Match Day
9 with the highly anticipated clash
of the longest football rivalry in
Nigeria between Shooting Stars
and Rangers International ending
1-1 in Ibadan.
Giwa FC recorded their second
home draw and were pushed down
to fifth place from second after they
were held 0-0 by Taraba United. It
will be the first game in four that
joint top scorer, Ibrahim Shuaib
failed to find the back of the net.
It was six times champions,
Enyimba International that showed
intent early in Port Harcourt after
the heavy downpour forcing an
own-goal just six minutes into
the game off Festus Austin, the
hard tackling Dolphins defender
who has recently made a return
from a season long injury lay-off.
Markson Ojobo would consolidate
the Peoples Elephants’ lead a
minute after a quick fire strike
that shattered Coach Stanley
Eguma’s pre-match expectations
of ending Dolphins’ four year jinx
against the visitors. Dolphins last
defeated Enyimba in 2011 on their
way to winning their last league
title. Omo Johnson connected an
Ifeanyi Egwim flick to reduce the
deficit on 28 minute and that was
the best both sides could muster
for the remaining 62 minutes of
the encounter.
From the match statistics,
it was obvious Coach Khadiri
Ikhana fashioned out a match
plan aimed at stemming the run
of poor results which has seen
Enyimba lose to Gabros 2-0 and
draw 0-0 at Aba with Giwa FC.
MATCH DAY 9 (Results)
Heartland 2-0 Akwa United
Dolphins 1-2 Enyimba
Abia Warriors 0-1 Kano Pillars
Wikki Tourists 1-0 Lobi Stars
El-Kanemi 1-0 Bayelsa United
Gabros 1-0 Sharks
Shooting Stars 1-1 Rangers
Nasarawa Utd1-1 Sunshine
Giwa FC 0-0 FC Taraba
MATCH DAY 7 RESULTS
Sharks 2-2 FC Taraba
Wikki Tourists 4-2 Rangers
Heartland 0-3 Sunshine Stars
Giwa FC 3-1 Bayelsa United
Dolphins 2-0 Lobi Stars
Gabros 2-0 Enyimba
Nasarawa 2-0 Abia Warriors
Kwara United 1-0 Kano Pillars
El-Kanemi 1-0 Akwa United
Shooting Stars vs Warri Wolves
(PP)
OLD RIVALS...
Rangers’ Odah Onorioda (right) challenged by Shooting Stars’ Yinka Adedeji in their Glo Premier League Match Day 9 clash at the Lekan Salami Stadium in
Ibadan…yesterday
Ehyimba finished the game with
11 shots at goal with seven on
target while Dolphins managed
six shots with three on target.
Adamu Hassan’s volley from
Ubong Ekpai’s low cross on the
4th minute earned defending
champions, Kano Pillars their
first points away from Kano as
they piped Abia Warriors 1-0 at
the Umuahia Township Stadium. It
was Warriors second home defeat
this season after their loss to Wikki
Tourists.
Heartland returned to winning
ways and it was against their
perennial victims, Akwa United
with quick early goals from Collins
Nwaneri on the 2nd minute and
Hassan Babangida two minutes
after to bring respite to Coach
Erasmus Onu whose job has
been threatened with a streak
of defeats in the last five games.
Kano Pillars, Heartland and
Enyimba move up the log on 15
points each but the cup holders
enjoy superior goals count.
Seun Sogbeso had sent 2012
Olympic team goalkeeper, Ikechukwu
Ezenwa the wrong way
to put Nasarawa United ahead
from the spot on 45 minutes.
Mannir Ubale was felled inside
the box and the perfect execution
of the spot kick sent the crowd
roaring in salute and perhaps
relief that they were ending the
half with a goal.
Sunshine fought back seeking
to sustain their lead at the top
and it was joint league leading
scorer Tunde Adeniji that came
close to restoring parity with a
thunderous shot five minutes
into the second half. He saw that
effort saved by goalkeeper Pius
Ibrahim who on 66th minute
FC Taraba Ends Giwa’s Winning Streak in Jos
Giwa Football Club of Jos was
left to rue missed chances as it
drew 0-0 at home to FC Taraba
in a Match Day 9 Glo Premier
League match at the Rwang Pam
Stadium in Jos.
This is only the second time the
Jos-based side will drop points at
home after the draw with Abia
Warriors earlier in the season.
Sitting in second position going
into the game and looking to
banish the ghosts of their Federation
Cup exit at the hands of
Kukuruku Dragons last week,
Giwa started the game like a
house on fire.
Skipper Charles Henlong had
the first real chance of the game
on the third minute from a set
piece but his effort just went wide
with Taraba goalkeeper Chinedu
Kakawa beaten.
They kept up the pressure
and were nearly rewarded when
Ibrahim Shuaibu wriggled off his
marker but a last ditch clearance
from Taraba defender Chinedu
Ohanachom prevented him from
scoring.
Ohanachom was proving to
be the main man in the Taraba
defence as he stopped Amos
Gyang from getting a clear sight
at goal on the 17th minute.
Giwa were finding joy from
free kicks around the Taraba box
but efforts from Shittu Lawal and
Charles Henlong didn’t result in
a goal as the Jos team huffed
and puffed.
The second half was more of
the first with Taraba intent on
sitting deep in their own half and
hoping to hit Giwa on the break.
The were able to carve out a
few chances towards the end of
the game but substitute Haliru
Hashimu couldn’t make hay with
the chance he got.
Substitute Charles Okoro had
the home side’s best chance of
the half but he was unfortunate
as his shot came off his own man
to the relief of Chinedu Kakawa.
Giwa threw the kitchen sink
at FC Taraba as they went into
added time with Amos Gyang,
Ibrahim Shuaibu and Charles
Okoro all involved but it wasn’t
to be as the game ended goalless
Team line ups:
Giwa FC: Friday Achimugu, Aminu
Mbai, Lawal Shittu, Ambrose Jimmy,
Nojeem Raji, Akide Ibrahim, Gyang
Amos, Mohammed Saleh, Charles
Henlong, Ocheme Edoh, Ibrahim
Shuaibu
FC Taraba: Chinedu Kawawa, Joe
Ma’amo, Chinonso Udeh, Lucky
Erummya, Obinna Nwokolo, Jimoh
Ismaila, Abdulmalik Mohammed,
Luther Iyorhe, Chinedu Ohanachom,
Onoja Godwin, Longji Obadiah
failed a keep away Kingsley
Eduwo’s header that finished
off a Prince Aggrey great work
from the flank.
In other results, Wikki Tourists
continued their fine run of form
as they beat a resolute Lobi Stars
1-0 thanks to Uche Martins goal
from the spot on 75th minute.
Under pressure Lobi coach Justin
Tenger could not see through his
pre-match determination to
leave Bauchi with a point as
Lobi continue to search for
the first win of the season.
In Kano, El-Kanemi Warriors
also managed a goal from
the penalty spot to breakdown
the resistance of struggling
Bayelsa United. Benjamin Turba
converted the penalty after
Salomon Junior was adjudged
to have brought down Ibrahim
Mustapha inside the box.
Gabros scaled the Sharks
hurdle thanks to a 77th minute
own goal from Jamiu Alimi, a
win that ensured the newly
promoted Nnewi side has
maintained a 100 percent
winning record on their
turf.
STANDINGS
Team P W D L GF GA GD Pts
Sunshine Stars 9 5 2 2 13 7 6 17
Gabros FC 9 5 2 2 12 6 6 17
Wikki Tourists 9 5 2 2 13 9 4 17
Giwa FC 9 4 4 1 10 5 5 16
El-Kanemi 8 5 1 2 8 6 2 16
Kano Pillars 9 5 0 4 9 6 3 15
Heartland 9 5 0 4 13 11 2 15
Enyimba 9 4 3 2 8 7 1 15
Abia Warriors 9 4 1 4 8 9 -1 13
Nasarawa 9 3 2 4 10 13 -3 11
Kwara Utd 8 3 2 3 6 9 -3 11
Warri Wolves 6 3 1 2 9 4 5 10
Rangers 9 3 1 5 11 12 -1 10
FC Taraba 9 2 4 3 10 11 -1 10
Dolphins 9 2 3 4 8 10 -2 9
3SC 8 2 2 4 5 8 -3 8
Akwa Utd 9 2 2 5 3 9 -6 8
Sharks 9 1 4 4 8 12 -4 7
Bayelsa Utd 9 1 4 4 5 10 -5 7
Lobi Stars 9 0 6 3 5 10 -5 6
Follow the Glo Premier League on www.npfl.ng, twitter @lmcnpfl and on facebook//League Management Company.

TRUTH & REASON
Monday May 18, 2015
TRUTH & REASON
Price: N150
MISSILE
Falana to Fayose
“In the atmosphere of impunity which currently obtains in the country, the well
known armed thugs operating in Ekiti State have been granted immunity by the
federal government. Hence, police officers are under strict instructions not to arrest
or prosecute any of them”
– Human rights lawyer, Mr. Femi Falana, blaming Ekiti State Governor, Mr. Ayodele
Fayose, for the increasing wave of kidnapping in the state.
WAZIRIADIO
POSTSCRIPT
waziri.adio@thisdaylive.com
years
OF ROBUST JOURNALISM
SINCE 1995
Tough Choices for Tough Times
Our public finance is not in a good
place at the moment. And it is
not going to get better any time
soon. On Friday, the three tiers
of government shared N388.33
billion from the Federation Account for the
month of April. When compared to the N435.05
billion they shared for March 2015, this is a
sharp fall of 10.7% within one month. The
picture is grimmer when the current figure is
compared to the N628.8 billion they collected
for November 2014: revenues shared by the
three tiers of government have slumped by
38.2% in six months.
As the slump continues and as the wriggle
room narrows, the mask is beginning to fall off.
The long predicted, and long denied, crunch
has finally arrived. Expectedly, the effect of
the plunge in prices of crude oil is beginning
to bite. All tiers of government, including the
federal government, are struggling to pay
their contractors and staff. Some states owe
civil servants up to six months. One state has
reportedly slashed salaries by more than a third,
and it is not inconceivable that others will embrace
this model. The federal government, according
to the outgoing Coordinating Minister for the
Economy/Minister of Finance, Dr. Ngozi Okonjo-
Iweala, is borrowing to meet its obligations to
workers and others. As at April, N473 billion
had been borrowed, representing 54 per cent
of the total debt budgeted in the 2015 budget.
If payment of salaries is already a challenge
across the board, the fate of other overheads
and capital expenditures is better imagined.
Though crude oil is now selling above $60 and
way above the approved benchmark price of
$53, oil price recovery is not enough to tie us
through these lean times. Late last year, the
International Monetary Fund (IMF) and Deutsche
Bank projected that we need oil to sell at $126
per barrel to balance our 2015 budget. That is
not likely to happen anytime soon. In fact, it is
doubtful oil prices will stay above $60 for long
because of possible increase in global oil supply
as, among others, the Iran nuclear deal gets
sorted and oil from fracking proves resilient.
The glut in the oil market, compounded for
us by unprecedented level of oil theft, shutins
and loss of the United States as a major
up-taker, creates a cash-flow problem which
constrains our capacity to borrow our way out
of this slump, no matter what is said about our
low debt-to-GDP ratio. We have little savings
to draw on as the Excess Crude Account is
almost depleted. Our sovereign wealth fund
is not robust enough, especially its stabilisation
component, to make any difference. The external
reserves managed by the central bank consist
mostly of money already spent. In all likelihood,
things will get tighter as the easy options for
meeting government obligations will be limited
to borrowing or printing money. Both options
are not cost-free. Before long, all sectors of the
economy will start mimicking the public sector
because our economy revolves around oil money.
Tough times are back. And, save for a miracle,
they are not likely to disappear in the near to
medium term.
This puts the incoming administration in a very
tight spot in two significant ways. One, it will
struggle to keep basic government operations
going because of inherited problems. Two, it
will find it very difficult to implement the
Okonjo-Iweala
ambitious social programmes it campaigned
and got elected on. My hunch is that, after
taking over, the Major General Muhammadu
Buhari (rtd) administration will discover that
the treasury is even in a worse state than they
had imagined. There will be the temptation to
keep blaming the outgoing government or to
favour politically agreeable options ahead of
far-reaching ones. To be sure, Nigerians should
not be left in doubt about the extent of the
inherited mess and enough attention should
be paid to politics. But doing just these would
not do. This is the time to take and implement
tough decisions about our economy. And since
the incoming government campaigned on the
platform of change, it should take the initiative
to implement bold changes that will put our
economy on the path of sustainability.
I think the place to start is for the Buhari
administration to put on hold, by three to six
months in the first instance, its ambitious welfare
programme such as the school feeding programme
and stipends for the unemployed, the elderly and
the poor. I am aware of recommendations about
funding the social welfare programmes through
If payment of salaries
is already a challenge
across the board, the
fate of other overheads
and capital expenditures
is better imagined.
Though crude oil is now
selling above $60 and
way above the approved
benchmark price of $53,
oil price recovery is not
enough to tie us through
these lean times
savings from wastes and leakages. This is not a
bad idea. But I am sure such recommendations
were made before it became clear that even the
federal government is borrowing to pay salaries. I
am also aware that suspending welfare spending
will have serious reputational and political costs
for the new government. The All Progressives
Congress (APC) included those promises in its
manifesto and its candidate incorporated them
in his Covenant with Nigerians.
The new opposition, the Peoples Democratic
Party (PDP), will soon recover from its present
disarray and will definitely get on APC’s case.
It has all the incentives to do so. Those who
voted for APC, especially those led to expect that
they will wake up to Eldorado on May 29, will
feel deceived and possibly become angry. Those
who didn’t vote for APC will find additional
justification, and they will possibly become
strident critics of the government even before
it gets off the starting line. Some civil society
groups are gearing up to hold APC to its electoral
promises, and will possibly swell the rank of
the opposition to the Buhari administration if
it backs out of, or fails to fulfil its promises.
Despite all these, I think it is a sensible
decision to take. The country has suddenly
found itself in the unenviable situation of a
parent who promised his/her kids a summer
holiday abroad but has lost his/her job. Sure, it
will be tough on the kids, but it is more sensible
to use available resources for school fees and
to put food on the table than on some holiday.
Even reasonable kids will understand the need
for that kind of trade-off. I am a strong believer
in the welfare state, not just because it is good
for income redistribution, social mobility and
national cohesion but more so because when
properly implemented it enhances the productive
capacities of citizens and the country. But you
can only redistribute what exists. Let’s face it: a
country that is struggling to pay salaries needs
to stabilise first.
The second hot-button area is removal of
subsidies on kerosene and petrol. The inflationary
impact of subsidy removal and the possible
disproportionate effect on the vulnerable cannot
be denied. But it is also clear that subsidies on
kerosene and petrol have turned out to be an
inefficient and unsustainable use of scarce public
resources, as most Nigerians buy these products
way above the official prices and we end up
subsidising those who do not need subsidy.
Most important, the subsidy regime oils the
path to barefaced corruption. In 2011, we spent
about N1.5 trillion on petroleum subsidies. That
was about a third of the total budget for that
election year, and way above the total capital
budget. The subsidy in the 2015 budget has
come down drastically to N145.2 billion. It is
tempting to allow it to stay. But it is precisely
a time like this, when the subsidy element is
low, that the inefficient, badly targeted and the
corruption-ridden subsidy should go. Today,
most Nigerians are buying petrol at around
N150, more than the full landing cost of the
product. The real beneficiaries of this failed
policy are the briefcase billionaires.
The fact that this is another sensible thing to
do does not mean it would not be resisted or
that it won’t come with political costs. Subsidy
removal is always an emotional and political
issue. Resistance should be expected not just
from individual citizens but also from labour
unions, the media, civic groups and the official
opposition. To reduce the resistance in these two
contentious areas, the incoming administration
needs to design and implement a robust strategy
for engaging Nigerians in honest and open
conversations about the state of the economy,
the options available, the inherent opportunity
costs, and the possible trade-offs.
I believe the credibility of the government to
engage in these conversations and its capacity to
implement important reforms will be strengthened
by the sacrifices it is willing to make especially
early in the life of the administration. There are
already some signs that the Buhari administration
might align itself with the demands of the austere
times. The APC inauguration committee has
said the party will not undertake a flamboyant
inauguration ceremony. The president-elect was
sighted in an airport shuttle bus and he was
pictured having a modest breakfast with his
running mate and his party chairman. All these
are good for the optics. But beyond symbolism, it
is important to reduce the drag that government
has become on public resources. There are many
obvious candidates for the knife: the number
of ministers and presidential aides; the salaries
and allowances of public officials, including
legislators; the budget for food, entertainment
and travels; the number of cars and aircraft in
the presidential fleet etc. Buhari promised to
lead from the front. Let him start with cuts
that directly affect him and others at the top.
In addition to these short term measures, there
is need to undertake some urgent reforms that
will check graft, reduce impunity and promote
efficiency. We also need to restructure our
economy in the medium to long term. Any
economy that is dependent on commodities
will always be vulnerable; any country that
uses 70 per cent of its budget to fund recurrent
expenditure will always be in ill-health. Beyond
the issue of subsidy, the oil sector is totally
dysfunctional and cries for roots-and-branch
reforms. Issues of swaps, discretion, metering,
industrial-scale theft, and opacity need to be
urgently addressed, whether the Petroleum
Industry Bill is passed or not. Oil sector reform
will also come with resistance, including from
some members of APC who think it is their
turn at the trough.
There is also need for better revenue collection
and remittance. Value Added Tax possibly
needs to go up and personal and company
income taxes need to be more aggressively
collected and rendered; waivers, which rob
the public of significant revenues, need to be
significantly reduced, if not eliminated; revenue
generating agencies should be made to pay
all they generate into the Federation Account,
rather than becoming slush centres and separate
islands of government. And then for the much
talked about diversification, we need special
interventions and incentives to boost physical
and human infrastructure and make services,
agriculture and manufacturing the major pillars
of our economy.
To get us out of this avoidable tight spot, Buhari
needs to make some tough calls. There are no
easy choices and some pains, not discussed or
disclosed or anticipated during the campaigns,
will have to be inflicted. It is not an easy time
to be a president. But it is precisely at times
like this that real changes can be made in the
lives of nations.
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