thisday0520

CBN Retains Interest Rate at 13%, Harmonises CRR at 31% 

Obinna Chima and James 

Emejo in Abuja 

Determined to maintain 

economic stability and also 

spur economic growth, the 

Central Bank of Nigeria's 

(CBN's) monetary policy 

committee (MPC) yesterday 

resolved to retain the interest 

rate at 13 per cent, just as it 

also harmonised both the 

private sector and public sector 

cash reserves requirements 

(CRR) at 31 per cent. 

The MPC, after the 244th 

meeting in Abuja yesterday, 

announced that it has retained 

the monetary policy rate 

(MPR) at 13 per cent with 

a corridor of +/- 200 basis 

points around the mid-point 

and also retained the liquidity 

ratio at 30 per cent. 

The CBN governor, Mr 

Godwin Ifeanyi Emefiele 

explained that. "The committee 

noted the salutary effects of 

the successful conduct of the 

2015 general elections on the 

macroeconomic environment. 

The committee expressed 

optimism that the confidence 

and goodwill arising from the 

successful elections would 

stem the spate of capital 

reversal, reduce pressure in the 

foreign exchange market and 

stabilise the financial markets 

in the short to medium term. 

"A combination of the 

renewed confidence and 

recent administrative measures 

PDP Crisis Deepens as Fani-Kayode Calls NWC Members Cowards, Traitors... Pg 8 

around the foreign exchange 

market have eased pressure on 

the naira, resulting in relative 

stability in all segments of the 

foreign exchange market. 

"The committee was 

concerned about the creeping 

headline inflation since January 

2015 but noted that the causal 

Continued on page 6 

Wednesday May 20, 2015 

Vol 20. No 7329. 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 

In Renewed Offensives, Boko Haram Kills 

22 Persons, Injures Many in Adamawa 

Daji Sani in Yola 

local cattle market, killing 10 

persons and injuring many 

After what looked like a rout others. 

from the Nigerian military, the Similarly, in a midnight 

Boko Haram terrorists seem to attack in Madagali, also in 

be rebounding by launching Adamawa State, the insurgents 

several devastating attacks on shot and killed a dozen 

hitherto liberated communities. persons and injured many 

Yesterday, for the first time others. 

in six years, a suicide bomber Speaking on the attack 

struck at Garkida town in in Garkida, an eyewitness 

Gombi Local Government revealed that at about 2pm, 

Area in Adamawa State, where a suicide bomber detonated 

he detonated an Improvised 

Explosive Device (IED) in a Continued on page 6 

Govs, Okonjo-Iweala 

Disagree on Excess 

Crude Account 

NGF: Please explain, Finance Minister: 

You have spent it Zamfara governor 

now NGF chair 

Chuks Okocha, Francis 

Ndubuisi in Abuja and 

Hammed Shittu in Ilorin 

There is probably no better 

way of summing up the 

eventual reconciliation of 

the factionalised Nigeria 

Governors’ Forum (NGF) 

than to say all is well that 

ends well. 

After almost two years of 

deep crisis, the 36 governors 

of the federation in the early 

hours of yesterday put their 

partisan differences aside 

and asked the Coordinating 

Minister for the Economy and 

Minister of Finance, Dr. Ngozi 

Okonjo-Iweala, to account for 

the $20 billion oil revenue the 

nation earned. 


HONOUR FROM ABROAD 

L-R: Chair United States Federal Reserve Board, Janet Yellen; Minister of Finance and Coordinating Minister for the 

Economy Dr. Ngozi Okonjo-Iweala and President, Yale University, Peter Salovey after the minister received an honorary 

Doctorate degree from Yale University... Monsday

2 WEDNESDAY MAY20, 2015 THISDAY

THISDAY WEDNESDAY MAY 20, 2015 3



6 WEDNESDAY, MAY 20, 2015 • THISDAY 

PAGE SIX 

IN RENEWED OFFENSIVES, BOKO HARAM KILLS 22 PERSONS, INJURES MANY IN ADAMAWA 

a bomb at the weekly cattle 

market in Garkida town 

resulting in the killing of 

10 persons on the spot and 

injuring several others who 

had been taken to the hospital 

for treatment. 

The eyewitness said that the 

bomb blast had caused serious 

apprehension as many feared 

that more of such attacks might 

be underway. 

He said he believed that the 

Boko Haram insurgents had 

regrouped and recruited a large 

number of suicide bombers 

to carry out future attacks on 

the state. 

There are however varying 

accounts of the attack. 

While some said a suicide 

bomber pretending to be 

a potential customer at the 

market detonated the bomb, 

another version had it that the 

bomb was actually planted at 

the gate of the market. 

Another eyewitness said that 

the incident took place at about 

2pm when the market was at 

the peak of activities leading 

to high casualties. 

Adama Mohammed, a 

resident of the town who 

narrowly escaped the blast, 

said that many of the victims 

including the dead and the 

injured had been evacuated 

to hospitals as activities in the 

market had come to a standstill. 

Confirming the incident, the 

factional Speaker of Adamawa 

State House of Assembly, Jerry 

Kumdisi, who hails from 

the area, noted that many 

persons had lost their lives 

in the attack. 

Gombi was one of the seven 

local government areas overrun 

by the Boko Haram insurgents 

in Adamawa State last year. 

It was in Gombi town that 

a German working with the 

state government's vocational 

school was abducted before 

he was finally rescued early 

this year. 

Efforts to get the Army 

Public Relations Officer of the 

23rd Army Brigade, Captain 

Nuhu Jafaru, proved abortive 

as at the time of filing this 

report although some military 

sources confirmed the attack. 

However, the state police 

command confirmed that seven 

people were killed from the 

bomb blast detonated by a 

suicide bomber in Garkida 

town. 

The state command's Police 

Public Relations Officer, 

Abubakar Othman, a Deputy 

Superintendent of Police 

(DSP), disclosed that a suicide 

bomber detonated a bomb at 

the Garkida cattle market in 

Garkida town which resulted 

in the death of seven persons 

including the suicide bomber. 

He said many people 

sustained different degrees 

of injuries from the blast as 

some of them were said to 

be in critical condition. 

And in what appears as 

a renewed wave of attacks, 

about 12 persons have been 

reportedly killed by the Boko 

Haram insurgents in Ajiya 

Wagga town of Madagali 

Local Government Area of 

Adamawa State. 

Reports indicate that the 

insurgents were determined 

to stage a comeback in their 

struggles to take control of 

the area as they continued 

their onslaught on villages 

and towns of Madagali Local 

Government area of the state. 

According to the reports, the 

insurgents started by launching 

an attack on Sabongari town of 

Madagali leading to the death 

of one person, while six women 

were abducted on Saturday and 

immediately advanced to attack 

Ajiya Wagga town, same night 

which resulted in the killing 

of 12 persons, while many 

sustained varying degrees 

of injury as they scampered 

for safety. 

A fleeing resident of Ajiya 

Wagga, Mr. Warga Sunday, said 

the gunmen struck the town 

in the middle of the night on 

Saturday while most of the 

residents had gone to bed and 

started shooting sporadically 

and in the process killing many. 

"I saw many dead bodies 

lying as I fled into nearby bush 

to escape from the insurgents, 

who were advancing in full 

force. 

"Many people are still in the 

bush as they fear another attack 

by the gunmen even as some 

fled to neighbouring villages," 

Sunday said. 

He however called on 

government to expedite action 

that can crush the insurgents. 

He noted that many of the 

villagers were just returning 

from their place of refuge 

having been chased out of 

the town last year by the 

insurgents. 

Another resident, who 

identified himself as Musa, 

said many villagers have 

sustained various degrees of 

injury and are being evacuated 

to hospitals for proper medical 

attention. 

He noted that the insurgents 

stormed the village around 

midnight on Saturday and 

started killing innocent people 

leading to the death of about 

12 people. 

Confirming the incident, the 

Chairman of the local council, 

Maina Ularamu, called on 

government to provide more 

security in the area in order to 

prevent the influx of fleeing 

insurgents to the area. 

However when contacted, 

spokesman of the Adamawa 

State Police Command, 

Othman Mohammed, a 

Deputy Superintendent of 

Police (DSP), said the police 

were yet to receive an official 

report of the incident. 

The insurgents had last 

weekend, recaptured Marte 

town in northern Borno 

State, just as a suicide bomber 

detonated a bomb at the 

Damaturu motor park killing 

seven persons. 

The President-elect, 

Muhammadu Buhari, had 

last Monday expressed 

dissatisfaction that the army 

had not been able to crush 

the Boko Haram insurgency, 

remarking that the recent gain 

of routing them (terrorists) was 

with the aid of South African 

mercenaries. 

He declared that it is 

as shameful as it was 

unacceptable. 

He has nine days to assume 

office as the Commander-in- 

Chief and take charge. 

GOVS, OKONJO-IWEALA DISAGREE ON EXCESS CRUDE ACCOUNT 

This is the first joint 

meeting of all the governors 

since May 24, 2013, when 

the governors’ crisis broke 

out, following the election 

that produced the Rivers 

State Governor, Chibuike 

Amaechi, with 19 votes to 

beat Jonah Jang of Plateau 

State who polled 16 votes. 

Reading the resolution of 

the meeting at about 1.08 am, 

the Chairman of the forum, 

Governor Amaechi, said: "In 

the light of the fact that 

funds in the Excess Crude 

Account were last disbursed 

in May 2013, there is need 

for the Minister of Finance 

and Coordinating Minister 

for the Economy, Dr. Ngozi 

Okonjo-Iweala, to provide 

explanation for accruals 

to the account from June 

2013 to April 2015, which 

is estimated at over $20 

billion." 

The governors in the 

communiqué said: "We 

are hereby reconciled and 

united as a single united 

umbrella association of the 

36 state governors of Nigeria 

regardless of party or region." 

In view of this, Amaechi 

said in the communiqué that 

Governor Abdullazeez Yari 

of Zamfara State has been 

elected as the Chairman of 

the NGF by consensus for 

one year period of May 2015 

to May 2016. 

The governors also 

congratulated the Presidentelect, 

Muhammadu Buhari, 

and commended the outgoing 

President Goodluck Jonathan 

for conceding defeat. 

Amaechi announced that 

there would be a retreat 

in June for the incoming 

governors, adding that it 

is aimed at equipping the 

new and returning governors 

with knowledge of global 

best practices for running 

their offices. 

The communiqué further 

said that the NGF would 

establish an academy to 

be known as the "NGF 

Leadership Academy", 

which would be responsible 

for capacity building for 

governors and other officials 

holding public office. The 

academy will be overseen 

by the NGF secretariat. 

In her response to the 

demand for an explanation 

on the $20 billion accruals to 

the Excess Crude Account, 

Okonjo-Iweala described as 

strange demands by the 

governors for an explanation 

on alleged missing $20 billion 

from the Excess Crude 

Account (ECA). 

In a statement issued last 

night by her Special Adviser, 

Mr. Paul Nwabuikwu, the 

minister affirmed that the 

governors’ allegation was 

totally strange because 

the Federation Account 

Allocation Committee 

(FAAC) meets every month 

“and the ECA is discussed 

at every session with all 

the state commissioners of 

finance present”. 

“Nothing is hidden. 

At these meetings, the 

Honourable Minister of 

State, who is the Chair of 

FAAC announces the balance 

in the ECA, which is then 

discussed. So governors 

who want any information 

about the ECA should 

ask for details from their 

commissioners who should 

have the records of what was 

discussed and agreed upon,” 

Okonjo-Iweala stressed. 

According to her, details of 

the ECA are also published 

every month along with the 

allocations to the three tiers 

of government. 

“The reference to June 

2013 in the statement 

is probably because the 

National Economic Council 

last met in May 2013. But 

this is immaterial because 

the FAAC meetings during 

which the ECA and similar 

issues are discussed have 

generally held regularly 

every month. 

“It is interesting that 

Governor Rotimi Amaechi 

of Rivers State, who was 

reported to have read the 

communique on behalf of 

the governors made a similar 

unsubstantiated allegation 

in November 2013 that $5 

billion was missing from 

the ECA. 

“We subsequently showed 

with facts that not only was 

the amount not missing, 

Rivers State received N257.6 

billion from the Federation 

Account between January 

and October 2013, the second 

highest among the states, 

of which N56.2 billion from 

the Excess Crude Account 

was a part. 

“In the interest of 

transparency and 

accountability, and to throw 

more light on this issue, the 

Federal Ministry of Finance 

will publish details of the 


CBN RETAINS INTEREST RATE AT 13%, HARMONISES CRR AT 31% 

factors were largely transient 

and outside the purview of 

monetary policy. 

The need to maintain 

uniformity caused the MPC 

to also harmonise the CRR of 

the public and private sectors. 

In the past, while the private 

sector CRR was at 20 per cent, 

the CRR on public sector funds 

was at 75 per cent. The latest 

MPC decision means that both 

CRR have been unified at 31 

TOP GAINERS NGN NGN % 

BETAGLASS 3.38 36.38 10.2 

SKYEBANK 0.23 2.61 9.6 

VONO 0.08 0.98 8.8 

MAYBAKER 0.10 1.78 5.9 

WEMABANK 0.05 1.05 4.5 

TOP LOSERS NGN NGN % 

CAVERTON 0.35 3.35 9.4 

AGLEVENTIS 0.08 1.54 4.9 

PORTPAINTS 0.17 3.47 4.6 

RTBRISCORP 0.04 0.88 4.3 

TOTAL 6.39 150.51 4.1 

HPE Nestle Nig Plc ₦905.02 

Volume: 356.234 million shares 

Value: N4.149 billion 

Deals: 4,700 

As at yesterday 19/05/15 

See details on Page 48 

per cent. 

Some economists and 

financial market operators 

anticipate that the MPC 

decision would help inject 

some liquidity back into the 

banking system, even as they 

noted that banks that are more 

reliant on public sector deposits 

would be the key beneficiaries 

of this additional injection of 

liquidity. 

Addressing journalists at the 

end MPC meeting in Abuja, 

Mr. Emefiele explained that 

the 31 per cent CRR is just a 

composite rate. 

Emefiele said the action 

would enable the central 

bank achieve the efficacy of 

the CRR rate regime. 

He said the MPC members 

considered that the current 

discriminatory CRR on public 

and private sector deposits 

had not only constrained 

the policy space but could 

inspire moral hazard by 

private market participants. 

Consequently, he said they 

noted that while additional 

tightening measures may not 

be appropriate now to avoid 

overheating the economy, the 

harmonisation of the CRR 

was imperative in order to 

curb abuses and improve the 

efficacy of monetary policy. 

"What we've done is to just 

have a composite rate so there's 

no need for us to have CRR for 

both private and public sector 

deposits. The 31 per cent is 

just a composite rate which 

just brings it together and 

there's no need for anybody to 

continue to wonder if they are 

taking CRR based on public 

sector or on private sector," 

he said. 

Furthermore, the significant 

rising trend in credit to 

government was regarded 

as potential headwinds to 

growth with negative spillovers 

to the already elevated 

lending rates, credit to the 

private sector and aggregate 

domestic investment including 

inflationary pressures.The 

committee expressed deep 

concern over the lackluster 

performance of the external 

sector arising from a number 

of significant global shocks." 

Continuing, Emefiele 

pointed out that the continued 

glut in crude oil supplies 

amidst softening prices, 

anchored by sluggish global 

output expansion could further 

threaten foreign exchange 

earnings and accretion to 

external reserves over a much 

longer period. He noted that 

a near- term rally in oil prices 

was further undermined 

by the diminishing market 

power of the Organisation 

of the Petroleum Exporting 

Countries (OPEC). 

"In the light of these 

developments, therefore, 

the committee stressed the 

need for proactive measures 

to protect the reserve buffer 

to safeguard the value of 

the domestic currency and 

engender overall stability of 

the banking system. It was, 

however, noted that monetary 

policy is gradually approaching 

the limits of tightening and 

would, therefore, require 

complementary fiscal and 

structural policies," he added. 

Responding to questions 

from journalists on insinuation 

that the central bank had 

restricted forex transactions, 

he said: "Let me say that there 

isn't really any forex restriction. 

What we've done based on 

what had happened in the 

market in the last couple of 

months is to eliminate the 

activities of round trippers or 

people who are front-loading 

the foreign exchange demand 

and this has culminated in 

a couple of policy circulars 

that were released by the CBN 

to Nigerian banks about the 

way they should operate in 

the foreign exchange market. 

"Some of those measures, 

as I keep saying were because 

of the current situation which 

we found ourselves, and the 

vulnerabilities we have been 

exposed to as a result of the 

drop in crude prices, we would 

continue to monitor some of 

those policies that were put in 

place and as we see that things 

are moderating and things are 

getting better-naturally what 

we would do is to revisit them, 

review them so the market 

can operate even better than 

it is right now." 

Speaking in a telephone 

interview with THISDAY, an 

Executive Director at Diamond 

Bank Plc, Mr. Abdulrahman 

Yinusa said the harmonisation 

of the CRR would help in 

simplifying cash reserve 

requirement computation by 

banks. He however argued 

that the monetary policy action 

would "discourage private 

sector initiative because it 

doesn't matter again whether 

it is private or public sector 

fund." 

On her part, the Head of 

Research/Chief Economist 

Africa, at Standard Chartered 

Bank, Razia Khan, argued that 

the MPC decision would result 

in "an eventual tightening, the 

immediate impact on market 

liquidity will depend on the 

ratio of private sector to public 

sector deposits in the Nigerian 

banking system." 

"Our calculations – based on 

data available from February, 

suggests a rough 73:27 ratio 

of private sector deposits to 

public sector deposits. If this 

still holds true, (and a lot has 

changed since February) we 

expect to see the injection of 

some liquidity back into the 

banking system. Banks that 

are more reliant on public 

sector deposits will be the key 

beneficiaries of this additional 

injection of liquidity," Khan 

added. 

Also, the Chief Executive 

Officer, Financial Derivatives 

Limited, Mr. Bismarck Rwane, 

said the MPC members 

acknowledged that they 

had reached the peak of its 

monetary policy tightening. 

He urged the fiscal authorities, 

especially the incoming 

government to initiate policies 

that would engender job 

creation and inclusive growth 

necessary to complement the 

monetary policy stance. 

Similarly, the Executive 

Director of Sterling Bank Plc, 

Abubakar Suleiman, said the 

process of managing the cash 

reserves ratio previously was 

very confusing, adding that a 

unified rate makes a lot sense. 

He described the move as a 

tactical easing. 

He noted that the central 

bank had done a lot in 

protecting forex reserves so 

as to encourage foreign direct 

investments.

8 

THISDAY • WEDNESDAY, MAY , 

Buhari Appoints Femi Adesina Special 

Adviser on Media and Publicity 

Roland Ogbonnaya 

Less than 10 days to the inauguration 

of his administration, the Presidentelect, 

Muhammadu Buhari, may have 

made his first official appointment by 

naming the Managing Director and 

Editor-in-Chief of The Sun newspapers, 

Mr. Femi Adesina, as his Special Adviser 

(SA) on Media and Publicity. 

Adesina's appointment, though yet to 

be formally announced, is said to have 

been concluded but merely waiting 

for some formality before the official 

announcement. 

Already, the management of The 

Sun Newspaper, it was gathered, 

is concluding plans to re-organise 

its management structure following 

Adesina's impending departure. 

Adesina was recently re-elected as 

the President of the Nigerian Guild 

of Editors (NGE) for another term of 

two years. 

The NGE president was returned 

unopposed at the 2015 bi-ennial 

convention of the Guild which held 

in Lagos by his colleagues, most of 

whom described his tenure as the “best 

the Guild has ever had.” 

With his new appointment, Adesina 

also becomes the second person to 

be so appointed while serving as the 

president of the Guild of Editors. The 

first person was the late Mrs. Remi Oyo, 

Adesina 

Okonjo-Iweala Bags Yale Varsity’s Honorary Doctoral Degree 

Ndubuisi Francis in Abuja 

The Minister of Finance and 

Coordinating Minister for the 

Economy, Dr. Ngozi Okonjo-Iweala, has 

bagged an honorary doctorate at Yale 

University, one of the most prestigious 

institutions of higher learning in the 

United States of America. 

The minister was awarded a Doctor 

of Humane Letters at Yale’s 2015 

Commencement Ceremony in New 

Haven, Connecticut on Monday. 

By this honour, she becomes the 

second Nigerian in the university’s 

314-year history to receive its highest 

honour after Nobel Laureate, Prof. Wole 

Soyinka, who received an honorary 

Doctor of Letters in 1980. 

Conferring the award, the President 

of the university, Prof. Peter Salovey, 

described Okonjo-Iweala as “a brilliant 

reformer and dedicated public servant.” 

The minister, he added, “has 

spearheaded efforts to stabilise and 

grow Nigeria’s economy, battling 

widespread government corruption 

and creating greater fiscal transparency 

and discipline.” 

Yale’s honorary doctoral degree 

is seen globally as a very important 

honour. 

According to the institution, “Those 

who have received honorary degree 

who was the SA, Media and Publicity 

to former President Olusegun Obasanjo. 

A prolific writer and tested journalist, 

Adesina started his career at the 

Vanguard Newspapers as a features 

writer before later moving to the defunct 

National Concord Newspapers. He is 

a pioneer staff of The Sun newspaper 

where he became the editor, and later the 

managing director and editor-in-chief, 

a position he will be quitting for the 

are scholars, public servants, Nobel 

Prize winners and heads of states. 

“Collectively, they represent the 

aspirations of this institution. Yale 

honorary degree recipients serve as 

models of excellence and service to 

our students, to our graduates, to 

our community and to the world.” 

Okonjo-Iweala was honoured 

alongside the Chair of the Board of 

Governors of US Federal Reserve 

System Janet Yellen; world renowned 

Beninoise singer and songwriter, 

Angelique Kidjo; University Professor 

and founding member of the Institute 

for Comparative Literature and Society 

at Columbia University, Gayatari 

Chakravorty Spivak; Professor and 

Director of the Starr Center for Human 

Genetics at Rockefeller University, 

Jeffrey Michael Friedman; inventors 

and entrepreneurs, Elon Musk and 

Dean Kamen, among others. 

Yale had in the past honoured a 

handful of other Africans such as 

Liberian President, Ellen Johnson 

Sirleaf and Archbishop Desmond Tutu. 

As Finance Minister in 2004, Okonjo- 

Iweala and the economic team that 

she led, helped Nigeria obtain debt 

relief, wiping out $30 billion of Paris 

Club debt, leading to a tripling of 

the growth rates. 

In her second coming as the 

GOVS, OKONJO-IWEALA DISAGREE ON EXCESS CRUDE ACCOUNT 

ECA for the last four years within 

the next few days,” the statement 

concluded. 

Speaking about the new aura of 

reconciliation in the NGF, the Kwara 

State Governor, Alhaji Abdulfatah 

Ahmed, described the peaceful 

resolution of the NGF crisis and the 

election of a new leadership for the 

body as a victory for democracy. 

Governor Ahmed made this known 

in a congratulatory message to the new 

chairman of the forum and Zamfara 

State Governor, Alhaji Yari, and the new 

Chairman of the Northern Governors’ 

Forum and Borno State Governor, Alhaji 

Kashim Shettima. 

Ahmed noted that Nigerian governors 

have displayed a high level of political 

maturity in resolving the crisis which 

almost set the body into irrelevance 

in the national politics. 

The governor, in a release by his 

Chief Press Secretary, Abdulwahaab 

Oba, yesterday in Ilorin, said with the 

elections and peaceful resolution of the 

needless polarisation of the body, the 

NGF has now repositioned itself for 

the immeasurable benefits of a peer 

review body. 

The governor charged his colleagues 

to remain focused in sustaining the 

ideals which gave birth to the union 

for it to remain as the bastion of 

good governance and leadership in 

the country. 

Governors from both factions 

in attendance at the Monday 

new assignment. 

As the president, Guild of Editors, 

Adesina fought for the rights and 

protection of journalists at every event 

or fora. In one of such events was 

a lecture organised by the Bank of 

Industry (BoI) where he advised the 

bank to find ways of encouraging media 

practitioners by giving them loans for 

the purpose of establishing businesses 

after retirement, pointing out that the 

media industry cannot afford to have 

more ‘veteran’ journalists. 

Adesina in his presentation at the 

event titled: ‘‘The Media and BOI: 

Working Together’’ admonished Bol 

to patronise media houses, saying that 

they are not charitable organisations. 

‘‘When you therefore have businesses, 

patronise them. If they are good 

enough for your press releases and 

other editorial items, they must also be 

good enough for your advertisements. 

Build a mutually rewarding relationship, 

including rendering investment support, 

as the journalists may require," he said. 

A seasoned and renowned journalist 

with over 28 years of experience in 

the industry, Adesina took The Sun to 

a new height. Under his leadership, 

the newspaper won several reputable 

awards. 

In 2007, he was named the Editor of 

the Year by the Nigeria Media Merit 

Award. 

Okonjo-Iweala 

Coordinating Minister for the Economy 

and Finance Minister since August 

2011, Okonjo-Iweala has focused on 

building strong foundations and 

institutions critical for the survival 

and sustenance of the economy. 

She bravely fought corruption in 

government with fierce dedication 

and unflagging energy. 

reconciliation meeting included 

Shettima of Borno, Amaechi of 

Rivers, Emmanuel Uduaghan of Delta, 

Deputy Governor of Imo State Eze 

Madumere, Abdulrahaman Yero of 

Kaduna, Adams Oshiomhole of Edo 

State, Deputy Governor of Kano, Rauf 

Aregbesola of Osun, Idris Wada of 

Kogi, the Governor-elect of Akwa Ibom 

State Emmanuel Udom and Godswill 

Akpabio of Akwa Ibom State. 

Others in attendance were Abiola 

Ajimobi of Oyo State, Isa Yuguda 

of Bauchi State, Babangida Muazu 

of Niger State, Deputy Governor of 

Nasarawa State, Abdulaziiz Yari of 

Zamfara, Saidu Dakingari of Kebbi, 

Ahmed of Kwara State and Gabriel 

Suswam of Benue State. 

STARTERS 

Two-Minute Briefing 

NEWS 

PDP Crisis Deepens as Fani-Kayode 

Calls NWC Members Cowards, Traitors 

The crisis rocking the Peoples 

Democratic Party (PDP) yesterday 

took a new dimension as the 

Director of Media and Publicity 

of the party’s presidential 

campaign organisation, Chief 

Femi Fani-Kayode... Page 8 

EDITORIAL 

Whither the Victims Support Fund? 

Due to the humanitarian crisis 

caused by the Boko Haram 

insurgency in the North-eastern 

part of the country, the federal 

government last year set up the 

Victims Support Fund which is 

aimed at ameliorating the suffering 

of those at the receiving end of the 

menace. Page 15 

POLITICS 

From This Day Shall So Ye Know Them 

Although reservations still 

abound, it is evident that the 

“CHANGE” being offered by the 

All Progressives Congress (APC) 

may have truly begun to dawn 

on the system and indeed, in 

all spheres of her body polity. 

Page 16 

FEATURES 

Building Cross River’s Silicon Valley 

Ugep, a community in Cross River 

State may not be on the global 

map yet, just the same way it took 

time for the the southern part of 

the San Francisco Bay Area in the 

United States to move from its 

agriculture-related and food 

production companies to high 

concentration of high-tech 

companies. Page 20 

BUSINESS 

New Task for SEC as Unclaimed 

Dividends Rise to N55 Billion 

The Securities and Exchange 

Commission (SEC) needs to move 

faster in the implementation of 

strategies to reduce unclaimed 

dividends in the nation’s capital 

market, as the amount of 

unclaimed dividends rose by . 

per cent in . Page 23 

CITYSTRINGS 

Bailing out Nigeria 

With the tumbling oil prices and the 

resultant measures by government 

to be less dependent on the 

dwindling revenue from the sector, 

experts say that there is other time 

than now for Nigeria to embrace 

agriculture for her food security 

and foreign exchange earning. 

Page 38 

INTERNATIONAL 

Egypt’s Death Sentences Worry 

UN, Turkey 

United Nations and Turkey have 

expressed deep concern about the 

death sentences handed down 

in Egypt to former President 

Mohamed Mursi and other 

Islamists, while Turkey warned of 

Middle East turmoil if they are 

carried out. Page F 

SPORTS 

Danagogo: Nigeria Cannot Afford a 

Foreign Coach Now 

Sports Minister, Tammy Danagogo, 

has admitted that government 

opted to reappoint Stephen Keshi 

as the Super Eagles coach because 

the country was not in a position 

to hire a foreign coach. Page 52 

7 

NEWS 

News Editor Davidson Iriekpen 



Chuks Okocha in Abuja 







Femi Fani-Kayode, described 

some members of the National 

Working Commi tee (NWC) of 

the party as traitors, ingrate and 

cowards not deserving of their 

o fices. 

Fani-Kayode dismi sed the 

a legations of hate campaigns 

allegedly orchestrated by the 

campaign directorate as one of the 

reasons why President Goodluck 

Jonathan lost the presidential 

election and ind ed PDP losing 

the general election. 

He called on the NWC members 

to resign if they have any modicum 

of dignity as some Labour leaders 

did after losing elections in the 

United Kingdom. 

Fani-Kayode also accused the 

NWC of using hate campaigns 

against the All Progre sives 

Congress (APC) as it described 

APC as a ‘Janjaweed’ and Taliban 

party. 

The National Publicity Secretary 

of PDP, Olisa Metuh, had last w ek 

said President Jonathan los the 

presidential election because of 

the hate campaigns introduced 

by the presidential campaign 

organisation of the party. 

But reacting yesterday, Fani- 

Kayode dismissed the a legation, 

saying: “The truth is that their 

a legations are not only basele s 

Onyebuchi Ezigbo in Abuja 

The Labour Party (LP) has 

asked both President Goodluck 

Jonathan and the president-elect, 

Muhammodu Buhari, to factor 

the welfare of workers, especialy 

those being owed salaries by 

some state governments, into 

their transition plans. 

The party frowned at the 

apparent lack of concern for 

workers’ condition by the powers 

that be, wondering whether it 

is the federal government or 

the states that are to blame for 

the ugly state of a fairs in the 

economy. 

This is contained in a statement 

i sued yesterday by the National 

Secretary of the LP, Kayode Ajulo. 

“A situation where some state 

governments owe workers’ 

salaries up to seven months 

is not only una ceptable but 

shameful. It is most despicable 

that instead of addre sing the 

i sue of workers’ welfare, an 

atmosphere of criminal silence 

pervades the political arena, while 

due ling on ministeria lists and 

pe ty inner party squabbles. 

“It is our belief in the LP that 

the Jonathan administration, 

although left with only very 

few days in o fice, sti l owes 

Nigerians explanation whether 

the government sti l owes states 

a locations? Has there been a 

change in the percentages 

Says they sabotaged Jonathan 

Labour Party Tasks Jonathan, Buhari 

on Unpaid Workers’ Salaries 

WEDNESDAY MAY 20, 2015 • T H I S DAY 

Email davidson.iriekpen@thisdaylive.com 

but it is also unadulterated rubbish the logic and style of those of us and appreciate is that we wi l did an excellent job but we also Janjaw ed and Taliban party 

and those who made them are who did it. 

not sit by idly and allow them fought a damn good fight. We and labe led the APC as the 

nothing but ingrates, cowards “Their arrogance was re-write history or make us the fall fought a be ter fight than any other Janjaw ed and Taliban party? No, 

and traitors who know nothing insu ferable, they were an guys. The only reason we have organ of the party had fought it was not. It was nobody in our 

about politics, political campaigns, unmitigate disaster and their not opened up on them is out of over the las two or thr e years campaign organisation rather it 

inte lectual discourse or political leadership style was abysmal. respect for President Jonathan and against a relentle s, well-funded, wa somebody in the NWC of 

engagement. 

It sti l is. If any group of people because we wan to ensure that wel-motivated and well-organised the PDP. Is that not what you ca l 

“They are simply trying to were responsible for our loss, it our party remains united. That opposition. Before the presidential a campaign of hatred? “ 

revise and re-write history in was them. They were envious of does not however mean that we campaign orgaisation came into He accused the NWC members 

order to cover up their treachery, the PDP presidential campaign are fools or that we will a low being, the PDP had virtually lost of doing underhand deal with the 

weakne ses and inadequacies. They organisation and its high profile ourselves to be turned into sitting its voice and those who do not aspirants in the primary elections. 

are fuelled by hate and envy and and they are nothing but a bunch ducks or someone’s punching bag. recognise this have obviously “Instead of leading the party 

worse of a l, right from the start, of bi ter and treacherous ingrates “That does not mean that we lost touch with reality. Those that these few individuals in the NWC 

they had no interest in fighting who have no business leading a will a low them to treat us as soft attack us and cast aspersion on were busy doing deals with the 

for our leader and presidential political party.” 

targets or that we are incapable of our character and blame us for APC secretly. We in the Campaign 

candidate, President Jonathan, or However, he exonerated some hi ting back. The lies, falsehood, the failure of our party and our Organisation were not like others 

in ensuring that he won the election.” of the NWC members, explaining innuendos and te rible stories presiden to win the election are that were collecting monies from 

According the PDP presidential that: “It is important to note that tha they are bandying around not s eing things clearly. a l the various PDP aspirants in 

campaign spokesman, the NWC not al of them were bad. Some of about us are just despicable and if “They are hopele sly confused the states and promising them 

of the party were envious of the them like Uche Secondus, Kema they do not stop, they wi l divide and they have no idea how political the party’s nomination and ticket. 

campaign council, saying: “From Chikwe, Jalo, Wale Oladipo, the the party and u terly destroy it. campaigns are conducted in the “This led to a lot of problems 

day one, al they did was sulk about National Youth Leader and a That is the sad and bitter truth. civilised world. Their a cusations within the party because in the end 

the fact that a presidential campaign few others did very best and In playing this game blame and are not only basele s, but they are they did not give those aspirants 

organisation had b en set up and supported the president as best pointing fingers at others, they also self serving,” he said. wha they asked for and what 

that they would not be able to have as they could but the majority of are biting o f far more than they Fani-Kayode said: “Again they promised. Consequently 

control of the campaign themselves them were te rible.” 

can chew. 

looking inwards, was it the many of those aspirants rebe led 

or have a ce s to the resources that A cording to Fani-Kayode, “The fact is that the presidential presidential campaign organisation and worked against us during 

we were given. At every point, they “Wha they n ed to understand campaign organisation not only that first coined the phrase the elections,” Fani-Kayode said 

tried to undermine our efforts and 

sabotage us but we ignored them 

and remained focused on doing 

our job despite their provocations. 

“From day one, a l they were 

interested in was controling others 

and telling them what to do. They 

were not in the fray, they refused to 

enter the heat of ba tle and al they 

did was moan and bicker from 

the side walk like li tle children. 

“What we were doing and 

attempting to do was lost on 

them because they had never 

taken anything seriously and 

they found it hard to comprehend 

a located to the states? Or 

has the federal government 

short-changed the states in 

anyway, leading to their 

dwindling fortunes? Who realy 

is responsible for this me s?” 

President Jonathan’s government 

needs to set the record straight. 

“Likewise, for the incoming 

administration, which rode 

to power on the promise of 

turning things around and 

mouthing the ‘change’ mantra, 

it is appa ling that nothing is 

being said abou the working 

people and their plight. In any 

country, the working cla s and 

the downtrodden constitute the 

goose that lay the golden egg. 

“There is no way any country 

can prosper without taking 

cognisance of the special place 

of workers and ensuring that 

their wages are paid promptly. 

Those who promise change but 

preside in states where workers 

are owed for several months 

and show no remorse are 

clearly profiteers on the 

popular psyche and quest,” 

he said. 

The statement went further 

to upbraid the incoming 

administration, pointing out 

that: “It is equaly untenable that 

just a few days to handover, the 

‘change agents’ have not bothered 

to come forward with a clear 

programme to addre s the plight 

of Nigeria’s downtrodden. 

ECOWAS NIGHT OUT 

L-R: Wife of the Speaker of ECOWAS Parliament, Dr. Nwanneka Ekweremadu; Speaker of the ECOWAS Parliament, Senator Ike 

Ekweremadu; ECOWAS Female Parliamentarians Association (ECOFEPA) awardee, Mrs. Isioma Ukwa; and the special guest of honour and 

wife of the Senate President, Mrs. Helen Mark, at the ECOFEPA award night in Abuja .yesterday Julius Atoi 

G-5 Governors Made APC’s Victory Possible, Say 

Atiku, Okorocha 


performances and the fact that historic victory of an opposition courageous effort in working for 

they were close to the people. party over the ruling party in the the victory of the party, sounded 

Former Vice-President, Atiku He said the governors have country. 

a note of caution on the n ed for 

Abubakar and the Imo State made significant impact in “Make no mistake about it, them to help safeguard the victory 

Governor, Chief Rochas Okorocha, governance and through their withou the five governors that by ensuring good governance. 

have a tributed the victory of the sacrifices made momentous joined the APC in 2013, we wi l He said the party made a 

Al Progre sives Congre s (APC) to contributions towards the victory not here today. Anyone who promise that there wi l be change 

the courageous decision of the five of APC at the presidential election. understands the power and and said the governors are going 

former governors of the Peoples “This is why the people of their might of the federal government, to be the standard bearers of the 

Democratic Party (PDP) to dump states love them and Nigerians especially under a vindictive change that the party is preaching. 

their party and t em up with the also love them. It is because of leadership, knows the enormous Commenting on the outgoing 

opposition party. 

this that the exit of thr e of these risks taken by Governors Rabiu governors, Oyegun said each of them 

Speaking during a special governors from the PDP amongst Musa Kwankwaso, Aliyu exc eded the standard benchmark 

dinner held for the out going others and their joining of the APC Magatarda Wammako, Abdulfatah of performance in governance. 

and incoming governors of the contributed significantly to our Ahmed and the lion-heart Rotimi “I want to appeal to everyone 

APC under the auspices of the victory in recent po ls,” he said. Amaechi. What happened to our here that we have scored a signal victory 

Progre sives Governors Forum While addre sing the colleague, Murtala Nyako could and that the way things are done 

(PGF), Atiku said the reasons why gathering, Okorocha described have happened to anyone of henceforth must be di ferent. The 

the five governors who joined the the contributions of the out going them,“ he said. 

whole world wi l be watching us 

APC made victory possible for the governors, especia ly those that But the National Chairman from Nay 29 when the reigns of 

party and ensured the defeat of defected from the PDP as very of the APC, while commending power is handed over to us,” he 

PDP was due to their outstanding key to the revolution that saw the the governors for their bold and said.

8 

NEWS 

WEDNESDAY MAY 20, 2015 • THISDAY 

News Editor Davidson Iriekpen 

Email davidson.iriekpen@thisdaylive.com 



Says they sabotaged Jonathan 

Chuks Okocha in Abuja 







Femi Fani-Kayode, described 

some members of the National 

Working Committee (NWC) of 

the party as traitors, ingrate and 

cowards not deserving of their 

offices. 

Fani-Kayode dismissed the 

allegations of hate campaigns 

allegedly orchestrated by the 

campaign directorate as one of the 

reasons why President Goodluck 

Jonathan lost the presidential 

election and indeed PDP losing 

the general election. 

He called on the NWC members 

to resign if they have any modicum 

of dignity as some Labour leaders 

did after losing elections in the 

United Kingdom. 

Fani-Kayode also accused the 

NWC of using hate campaigns 

against the All Progressives 

Congress (APC) as it described 

APC as a ‘Janjaweed’ and Taliban 

party. 

The National Publicity Secretary 

of PDP, Olisa Metuh, had last week 

said President Jonathan lost the 

presidential election because of 

the hate campaigns introduced 

by the presidential campaign 

organisation of the party. 

But reacting yesterday, Fani- 

Kayode dismissed the allegation, 

saying: “The truth is that their 

allegations are not only baseless 

but it is also unadulterated rubbish 

and those who made them are 

nothing but ingrates, cowards 

and traitors who know nothing 

about politics, political campaigns, 

intellectual discourse or political 

engagement. 

“They are simply trying to 

revise and re-write history in 

order to cover up their treachery, 

weaknesses and inadequacies. They 

are fuelled by hate and envy and 

worse of all, right from the start, 

they had no interest in fighting 

for our leader and presidential 

candidate, President Jonathan, or 

in ensuring that he won the election.” 

According the PDP presidential 

campaign spokesman, the NWC 

of the party were envious of the 

campaign council, saying: “From 

day one, all they did was sulk about 

the fact that a presidential campaign 

organisation had been set up and 

that they would not be able to have 

control of the campaign themselves 

or have access to the resources that 

we were given. At every point, they 

tried to undermine our efforts and 

sabotage us but we ignored them 

and remained focused on doing 

our job despite their provocations. 

“From day one, all they were 

interested in was controlling others 

and telling them what to do. They 

were not in the fray, they refused to 

enter the heat of battle and all they 

did was moan and bicker from 

the side walk like little children. 

“What we were doing and 

attempting to do was lost on 

them because they had never 

taken anything seriously and 

they found it hard to comprehend 

the logic and style of those of us 

who did it. 

“Their arrogance was 

insufferable, they were an 

unmitigated disaster and their 

leadership style was abysmal. 

It still is. If any group of people 

were responsible for our loss, it 

was them. They were envious of 

the PDP presidential campaign 

organisation and its high profile 

and they are nothing but a bunch 

of bitter and treacherous ingrates 

who have no business leading a 

political party.” 

However, he exonerated some 

of the NWC members, explaining 

that: “It is important to note that 

not all of them were bad. Some of 

them like Uche Secondus, Kema 

Chikwe, Jalo, Wale Oladipo, the 

National Youth Leader and a 

few others did very best and 

supported the president as best 

as they could but the majority of 

them were terrible.” 

According to Fani-Kayode, 

“What they need to understand 

and appreciate is that we will 

not sit by idly and allow them 

re-write history or make us the fall 

guys. The only reason we have 

not opened up on them is out of 

respect for President Jonathan and 

because we want to ensure that 

our party remains united. That 

does not however mean that we 

are fools or that we will allow 

ourselves to be turned into sitting 

ducks or someone’s punching bag. 

“That does not mean that we 

will allow them to treat us as soft 

targets or that we are incapable of 

hitting back. The lies, falsehood, 

innuendos and terrible stories 

that they are bandying around 

about us are just despicable and if 

they do not stop, they will divide 

the party and utterly destroy it. 

That is the sad and bitter truth. 

In playing this game blame and 

pointing fingers at others, they 

are biting off far more than they 

can chew. 

“The fact is that the presidential 

campaign organisation not only 

did an excellent job but we also 

fought a damn good fight. We 

fought a better fight than any other 

organ of the party had fought 

over the last two or three years 

against a relentless, well-funded, 

well-motivated and well-organised 

opposition. Before the presidential 

campaign orgaisation came into 

being, the PDP had virtually lost 

its voice and those who do not 

recognise this have obviously 

lost touch with reality. Those that 

attack us and cast aspersion on 

our character and blame us for 

the failure of our party and our 

president to win the election are 

not seeing things clearly. 

“They are hopelessly confused 

and they have no idea how political 

campaigns are conducted in the 

civilised world. Their accusations 

are not only baseless, but they are 

also self serving,” he said. 

Fani-Kayode said: “Again 

looking inwards, was it the 

presidential campaign organisation 

that first coined the phrase 

Janjaweed and Taliban party 

and labelled the APC as the 

Janjaweed and Taliban party? No, 

it was not. It was nobody in our 

campaign organisation rather it 

was somebody in the NWC of 

the PDP. Is that not what you call 

a campaign of hatred? “ 

He accused the NWC members 

of doing underhand deal with the 

aspirants in the primary elections. 

“Instead of leading the party 

these few individuals in the NWC 

were busy doing deals with the 

APC secretly. We in the Campaign 

Organisation were not like others 

that were collecting monies from 

all the various PDP aspirants in 

the states and promising them 

the party’s nomination and ticket. 

“This led to a lot of problems 

within the party because in the end 

they did not give those aspirants 

what they asked for and what 

they promised. Consequently 

many of those aspirants rebelled 

and worked against us during 

the elections,” Fani-Kayode said 

Labour Party Tasks Jonathan, Buhari 

on Unpaid Workers’ Salaries 


The Labour Party (LP) has 

asked both President Goodluck 

Jonathan and the president-elect, 

Muhammodu Buhari, to factor 

the welfare of workers, especially 

those being owed salaries by 

some state governments, into 

their transition plans. 

The party frowned at the 

apparent lack of concern for 

workers’ condition by the powers 

that be, wondering whether it 

is the federal government or 

the states that are to blame for 

the ugly state of affairs in the 

economy. 

This is contained in a statement 

issued yesterday by the National 

Secretary of the LP, Kayode Ajulo. 

“A situation where some state 

governments owe workers’ 

salaries up to seven months 

is not only unacceptable but 

shameful. It is most despicable 

that instead of addressing the 

issue of workers’ welfare, an 

atmosphere of criminal silence 

pervades the political arena, while 

duelling on ministerial lists and 

petty inner party squabbles. 

“It is our belief in the LP that 

the Jonathan administration, 

although left with only very 

few days in office, still owes 

Nigerians explanation whether 

the government still owes states 

allocations? Has there been a 

change in the percentages 

allocated to the states? Or 

has the federal government 

short-changed the states in 

anyway, leading to their 

dwindling fortunes? Who really 

is responsible for this mess?” 

President Jonathan’s government 

needs to set the record straight. 

“Likewise, for the incoming 

administration, which rode 

to power on the promise of 

turning things around and 

mouthing the ‘change’ mantra, 

it is appalling that nothing is 

being said about the working 

people and their plight. In any 

country, the working class and 

the downtrodden constitute the 

goose that lay the golden egg. 

“There is no way any country 

can prosper without taking 

cognisance of the special place 

of workers and ensuring that 

their wages are paid promptly. 

Those who promise change but 

preside in states where workers 

are owed for several months 

and show no remorse are 

clearly profiteers on the 

popular psyche and quest,” 

he said. 

The statement went further 

to upbraid the incoming 

administration, pointing out 

that: “It is equally untenable that 

just a few days to handover, the 

‘change agents’ have not bothered 

to come forward with a clear 

programme to address the plight 

of Nigeria’s downtrodden. 

ECOWAS NIGHT OUT 

L-R: Wife of the Speaker of ECOWAS Parliament, Dr. Nwanneka Ekweremadu; Speaker of the ECOWAS Parliament, Senator Ike 

Ekweremadu; ECOWAS Female Parliamentarians Association (ECOFEPA) awardee, Mrs. Isioma Ukwa; and the special guest of honour and 

wife of the Senate President, Mrs. Helen Mark, at the ECOFEPA award night in Abuja...yesterday 

Julius Atoi 

G-5 Governors Made APC’s Victory Possible, Say 

Atiku, Okorocha 


Former Vice-President, Atiku 

Abubakar and the Imo State 

Governor, Chief Rochas Okorocha, 

have attributed the victory of the 

All Progressives Congress (APC) to 

the courageous decision of the five 

former governors of the Peoples 

Democratic Party (PDP) to dump 

their party and teem up with the 

opposition party. 

Speaking during a special 

dinner held for the out going 

and incoming governors of the 

APC under the auspices of the 

Progressives Governors Forum 

(PGF), Atiku said the reasons why 

the five governors who joined the 

APC made victory possible for the 

party and ensured the defeat of 

PDP was due to their outstanding 

performances and the fact that 

they were close to the people. 

He said the governors have 

made significant impact in 

governance and through their 

sacrifices made momentous 

contributions towards the victory 

of APC at the presidential election. 

“This is why the people of their 

states love them and Nigerians 

also love them. It is because of 

this that the exit of three of these 

governors from the PDP amongst 

others and their joining of the APC 

contributed significantly to our 

victory in recent polls,” he said. 

While addressing the 

gathering, Okorocha described 

the contributions of the out going 

governors, especially those that 

defected from the PDP as very 

key to the revolution that saw the 

historic victory of an opposition 

party over the ruling party in the 

country. 

“Make no mistake about it, 

without the five governors that 

joined the APC in 2013, we will 

not here today. Anyone who 

understands the power and 

might of the federal government, 

especially under a vindictive 

leadership, knows the enormous 

risks taken by Governors Rabiu 

Musa Kwankwaso, Aliyu 

Magatarda Wammako, Abdulfatah 

Ahmed and the lion-heart Rotimi 

Amaechi. What happened to our 

colleague, Murtala Nyako could 

have happened to anyone of 

them,“ he said. 

But the National Chairman 

of the APC, while commending 

the governors for their bold and 

courageous effort in working for 

the victory of the party, sounded 

a note of caution on the need for 

them to help safeguard the victory 

by ensuring good governance. 

He said the party made a 

promise that there will be change 

and said the governors are going 

to be the standard bearers of the 

change that the party is preaching. 

Commenting on the outgoing 

governors, Oyegun said each of them 

exceeded the standard benchmark 

of performance in governance. 

“I want to appeal to everyone 

here that we have scored a signal victory 

and that the way things are done 

henceforth must be different. The 

whole world will be watching us 

from Nay 29 when the reigns of 

power is handed over to us,” he 

said.


10 WEDNESDAY MAY 20, 2015 • THISDAY 

NEWS 

Court Dismisses Amaechi’s Suit against 

Wike’s Inauguration 

AGF directs Bayelsa Chief Judge to swear in governor-elect 

Ernest Chinwo in Port Harcourt 

and Tobi Soniyi in Abuja 

Efforts by the All Progressives 

Congress (APC) and Rivers State 

Governor, Chibuike Amaechi, to 

stop the inauguration of the State 

governor-elect, Chief Nyesom 

Wike, as the state governor 

on May 29 suffered a set-back 

yesterday as the Federal High 

Court sitting in Owerri Imo State, 

struck out a suit instituted by 

the governor. 

The state Attorney General 

and Commissioner for Justice, 

Mr. Worgu Boms, and the APC 

had in suit number FHC/OW/ 

CS/100/2015 asked the court to 

stop the inauguration of Wike 

and the deputy governor-elect, 

Dr. Ipalibo Harry-Banigo, on 

May 29. 

But at the sitting of the court 

yesterday, the presiding judge, 

Justice S. M. Shuaibu, struck out 

the matter on the grounds that 

his court lacked jurisdiction to 

entertain the matter. 

Counsel to Amaechi and the 

APC, Beluolisa Nwofor (SAN), 

had argued that the court could 

hear the suit as the Peoples 

Democratic Party (PDP) that 

was listed as the third defendant, 

the police (listed as the eighth 

defendant) and the Department 

of State Security (DSS), listed as 

the 10th defendant, all had offices 

in Owerri. 

Shuaibu however did not buy 

the argument. 

He held that by the provisions 

of the Federal High Court 2011, 

notice on the venue of filing suits 

and the territorial jurisdictional 

limits of the judicial divisions of 

the Federal High Court enacted 

by the Chief Judge of the Federal 

High Court pursuant to section 

19 of the Federal High Court Act, 

Port Harcourt and not Owerri 

is the place in which the suit 

ought to have been filed. 

The judge said it was so 

because all the principal claims 

in the suit are against Wike, and 

Harry-Banigo. 

Reacting to the ruling, the 

Chairman of the PDP in Rivers 

State, Felix Obuah, praised the 

judiciary for rising up to the 

occasion as the true hope of 

the common man. 

He noted that Amaechi was 

a creation of the judiciary as a 

court judgment put him in office. 

He, however, said the governor 

had shown only one agendum 

since he came to power: ridiculing 

and destroying the judiciary. 

He stated that Wike and the 

PDP were ready to meet the 

governor in any court of law. 

Obuah welcomed what 

he described as sound and 

unambiguous judgment delivered 

in Owerri by a Federal High 

Court, presided over by Justice 

S. M. Shuaibu in favour of Wike, 

over his swearing in ceremony 

billed for May 29. 

“The PDP expresses gratitude 

to the judiciary over the failure 

of Amaechi and the APC, 

through his Attorney-General, 

to secure judgment in the matter 

through the back door, which it 

believes would have truncated 

the democratic process in the 

state,” he said. 

Obuah said he felt disturbed 

over the desperation exhibited 

by the out-going governor which 

clearly shows his exceeding hate 

for the governor-elect, even when 

everyone is expecting a robust 

peace in the state. 

He said: “For us, the Owerri 

Federal High Court judgment 

clearing way for the inauguration 

of the PDP government and 

swearing-in of the governorelect, 

Wike, on May 29 has 

further strengthened our hope 

and conviction that no matter 

the distractions and destructive 

tendencies of the out-going 

Amaechi-led administration in 

the state, the PDP government 

under Wike will still succeed. 

“The PDP is therefore of the 

view that rather than wasting 

its time and Rivers peoples’ 

resources on fruitless court 

cases and non-productive actions 

aimed at thwarting the smooth 

inauguration of the incoming 

Jonathan Won’t Dissolve 

Cabinet Today, Says Minister 

Adebiyi Adedapo in Abuja 

The Minister of Information, 

Patricia Akwashiki, has disclosed 

that President Goodluck Jonathan 

will not dissolve the Federal 

Executive Council (FEC) today as 

reported in the media.Akwashii 

in a statement yesterday refuted 

report by a national newspaper 

(not THISDAY) which quoted 

her as saying President Jonathan 

would dissolve his cabinet today. 

The minister noted that she 

did not at anytime speak to 

journalists on the dissolution 

of FEC, adding that the news 

was a rude shock. 

“The Information Minister 

therefore urges the public to 

disregard the tendentious report 

as false and malicious, which only 

exists in the warped imagination 

of its authors,” the statement said. 

The report had quoted 

a presidency source as saying 

the president would dissolve 

the cabinet after a valedictory 

session scheduled to hold inside 

the Council Chambers of the 

Presidential Villa today. 

The report also stated that all 

the ministers had received letters 

from the president last Friday 

thanking them for serving their 

fatherland. 

The report stated that today’s 

FEC meeting would be the last 

in the life of the administration 

of President Jonathan, and that 

the president would use the 

opportunity to thank his cabinet 

members and request prayers 

for the country. 

According to the report, “At 

the valedictory council session, 

prayers would also be offered 

for the incoming government of 

Muhammadu Buhari.” 

The report stated further 

that Jonathan had directed all 

ministers to hand over the affairs 

of their various ministries to their 

respective permanent secretaries. 

government, Amaechi is better 

advised to channel his energies 

in joining the administration of 

Wike in building a united Rivers 

State. 

“Amaechi and the APC should 

allow peace reign in the state 

by not distorting the anticipated 

smooth handover of government 

to the PDP in the state on May 

29, which is sacrosanct, as the 

party cannot wait to deliver to 

the people of the state what it 

promised them and many more 

after being inaugurated.” 

Meanwhile, the Attorney 

General of the Federation and 

Minister for Justice, Mohammed 

Adoke (SAN), yesterday said he 

had directed the Chief Judge of 

Bayelsa State to swear in Wike, 

as governor of Rivers State. 

In a statement issued in 

Abuja yesterday, Adoke said the 

directive was aimed at averting 

a likely constitutional crisis in 

the state on May 29 when Wike 

is expected to be sworn in as 

governor of the state. 

Wike was declared winner of 

the Rivers State governorship 

election conducted by the 

Independent National Electoral 

Commission (INEC) on April 

11. 

It is therefore expected that 

he will be sworn into Office 

on May 29, 2015 in accordance 

with the provisions of section 

185(1) of the 1999 Constitution. 

The statement from the AGF 

said: “It is however pertinent 

to draw public attention to 

the existing vacuum in the 

Office of the Chief Judge of 

Rivers State, as well as, the 

Office of the President of the 

Customary Court of Appeal 

in the state. 

State which has made 

strict compliance with the 

requirements of section 185(1) 

and (2) of the 1999 Constitution 

virtually impossible. 

“In order to avert a likely 

constitutional crisis in Rivers 

State on May 29 when the 

governor-elect is expected to 

be sworn in as governor of 

Rivers State, I have requested 

the Chief Judge of Bayelsa 

State to administer the oath of 

allegiance and oath of office 

on the governor-elect of Rivers 

State in accordance with section 

185(2) of the Constitution 1999, 

which provides as follows: ‘The 

oath of allegiance and the oath 

of office shall be administered by 

the Chief Judge of the State or 

Grand Khadi of the Sharia Court 

of Appeal of the state, if any, 

or President of the Customary 

Court of Appeal of the state, if 

any,or the person for the time 

being respectively appointed to 

exercise the functions of any of 

those offices in any state.’ 

“The public, particularly 

the government and people 

of Rivers State, are hereby 

invited to take note of this 

development and appreciate the 

fact that the invitation extended 

to the Chief Judge of Bayelsa 

State to administer the oath of 

allegiance and oath of office 

on the governor-elect of Rivers 

State on May 29 is in accordance 

with the constitution and should 

therefore be respected by all and 

sundry.” 

FIGHT NO MORE 

L-R:Chairman,Nigeria Governors’ Forum (NGF) and Rivers State Governor, Chibuike Amaechi; Akwa Ibom State Governor, Godswill 

Akpabio, at the NGF reconciliation meeting in Abuja...Monday 

ECOWAS: Jonathan’s Place in Nigeria’s Democratic 

History Special 

Jaiyeola Andrews in Abuja 

The Economic Community of 

West African States (ECOWAS) 

yesterday said with the peaceful 

conduct of 2015 general election 

in Nigeria, and President 

Goodluck Jonathan conceding 

defeat, Jonathan’s place in 

Nigeria’s democratic history 

will remain special. 

Chairman of the Authority of 

Heads of State and Government 

of ECOWAS and president of 

Ghana, John Mahama Dramani, 

stated this during the opening 

address at the 47th Ordinary 

Session of the authority held 

in Accra, Ghana. 

The Ghanaian president 

equally congratulated the 

president-elect, Muhammadu 

Buhari on his victory at the 

presidential polls. 

“Ladies and gentlemen, at our 

summit, I informed you that five 

member states of our sub-region 

would hold election this year. 

We are extremely proud of the 

elections held so far in two of 

our member states. 

“I salute the people of Nigeria 

and Togo for the peaceful 

elections held in those countries. 

This sends a strong message to 

the world that our protocol on 

democracy and good governance 

is effective and has strengthened 

the rule of law in our sub-region. 

“Let me on your behalf 

take this opportunity to highly 

commend our brother, President 

Jonathan, for his personal show 

of mature statesmanship in 

the event that followed the 

presidential election held in 

Nigeria. 

“I believe his name will be 

recorded in a special place 

when the history of Nigeria’s 

democracy comes to be written. 

“Let me also on this occasion 

salute Buhari for his victory 

in the presidential election,” 

Dramani said. 

He said the atrocities of 

the terrorists group, Boko 

Haram,was unrivaled but 

commended the success 

recorded in the war against 

the group. 

The Ghanaian leader 

expressed regret over the 

continued stay in Boko Haram 

captivity, the Chibok schoolgirls, 

despite the rescue of over 1,000 

people. 

“Last year, Nigeria and 

Cameroun were caught in the 

spate of terrible attacks and 

atrocities by the terrorists Boko 

Haram. They freely attacked 

with impunity and abducted 

hundreds of women and 

children. 

“The atrocities of this group 

have remained unsurpassed by 

any terrorist group anywhere 

in the world. Slaughters, 

beheading, rape, torture, 

abductions, bombings, looting 

and destruction of property 

have been the hallmark of 

this terrorist group. 

“People, especially from 

North-east Nigeria, have been 

subjected to a reign of terror. 

“Today, thanks to the African 

Union and the multinational 

Joint Task Force formed by 

the Lake Chad Basin countries, 

a lot of progress has been 

made in the fight against the 

Boko Haram sect. 

“We are pleased to note the 

success in liberating the territories 

that Boko Haram dominated and 

the release of over 1,000 people 

mostly women and children. 

“The fight is however far from 

over. We have not yet secured 

the release of the young Chibok 

girls and Boko Haram has shown 

that it still has the capacity to 

counter attack,” Dramani added. 

He thanked Economic 

Community of the Central 

African States (ECAS) leadership 

for their support and contribution 

to the fight against Boko Haram. 

Darmani noted that he looked 

forward to the proposed joint 

summit of ECOWAS and 

ECAS to formulate a joint plan 

for defeating and eventually 

eliminating the insurgents’ threat. 

In a message by the Secretary 

General, Ban Ki Moon, read 

by his Special Representative, 

Muhammed Ibn Chambas, 

he lauded Jonathan for his 

contributions to regional peace 

and security. 

“As this marks the final 

summit of President Goodluck 

Jonathan, I wish to send our 

sincere appreciation for his 

valuable contributions to regional 

integration, maintenance of peace 

and security in West Africa, most 

notably in Côte d’Ivoire, Guinea 

and Mali,” he stressed.

WEDNESDAY MAY 20, 2015 • THISDAY 11 

NEWS 

Court Stops Jonathan from 

Signing Amended Oil and 

Gas Bill 

Davidson Iriekpen 

Justice Saliu Saidu of the Federal 

High Court in Lagos yesterday 

restrained President Goodluck 

Jonathan from assenting to the 

bill for an Act to amend the Oil 

and Gas Export Free Zone Act. 

The judge also restrained the 

National Assembly, the Clerk 

of the National Assembly from 

forwarding the bill for an Act to 

Amend the Oil and Gas Export 

Free Zone Authority Act. Cap. 

05 to the president for assent. 

He also restrained the 

defendants, their agents and 

privies from prohibiting the 

usage of the plaintiffs’ facilities 

at Snake Island Integrated Free 

Zone for Oil and Gas cargoes 

destined for use in the free zone. 

The order was sequel to a 

motion ex-parte, in a suit number 

FHC/L/CS/719/15, filed before 

the court by Professor Olanrewaju 

Fagboun, on behalf of Niger 

Dock Nigeria Limited, Simco 

Free Zone Company and Niger 

Dock Nigeria Plc-FZE, who are 

plaintiffs in the suit. 

The court also restrained the 

National Assembly, the Clerk 

of the National Assembly, 

the Attorney-General of the 

Federation, Minister of Industry, 

Trade and Investment, the 

Minister of Transport, and the 

Nigeria Ports Authority (NPA). 

In an affidavit sworn to by 

Yusufu Abdullahi, the Director 

of Simco Free Zone Company, 

the deponent averred that 

Niger Dock Nigeria Limited 

is a promoter of Snake Island 

Integrated Free Zone (SIIFZ), and 

that the Simco is a company 

saddled with the responsibility 

to develop, market, manage, 

operate, and administer SIIFZ. 

The deponent averred that 

Tobi Soniyi in Abuja 

After several adjournment, 

the federal government 

yesterday began the trial of 

the alleged master mind of 

the Nyanya bomb blast, Aminu 

Sadiq Ogwuche and five others 

before the Federal High Court 

sitting in Abuja. 

Others are Ahmed Abubakar, 

Mohammed Ishaq, Ya’u Saidu 

(alias Kofar Rama); Anas Isa, 

Adamu Yusuf and Nasir 

Abubakar. 

The accused persons were 

charged with terrorism for 

bombing Nyanya motor park, 

in the Federal Capital Territory 

(FCT), Abuja. 

The trial was initially 

scheduled to commence last 

week, but could not go ahead 

because of the absence of the 

prosecution witnesses. 

At the resumed trial 

yesterday, prosecution counsel, 

Mohammed Diri, told the court 

that he had 37 exhibits and 

six witnesses to tender before 

the court 

He also told the court that 

an eight-count charge was filed 

against the suspects contrary 

SIIFZ was approved as a 

privately owned and managed 

Free Zone by a presidential 

declaration in January 2005, 

and was duly licensed by 

the Nigeria Export Processing 

Zones Authority (NEPZA), in 

April 2005. 

He said SIIFZ is operated 

by Simco Free Zone Company, 

under the direct supervision and 

monitoring of NEPZA. 

He added that other regulatory 

agencies such as Nigeria Ports 

Authority (NPA), Nigerian 

Customs Service (NCS), the 

Nigerian Immigration Service 

(NIS), the Nigeria Police Force 

(NPF), and State Security Service 

(SSS), are present within SIIFZ 

to ensure due compliance with 

all laws and that appropriate 

security is maintained. 

Abdullahi also averred that 

at that privatisation, one of the 

representation that the federal 

government as beneficial owner 

made to the core investor 

who purchased the federal 

government share in the Niger 

Dock Nigeria Limited was that 

the federal government shall take 

all necessary steps to co-operate 

fully with the purchaser to ensure 

that the purchaser obtains all 

benefits under Nigerian law as 

a strategic core investor in the 

company. 

He averred that in November 

2014, the plaintiffs became aware 

that a Bill for An Act to Amend 

the Oil and Gas Export Free Zone 

Authority Act, Cap. 05, Laws of 

the Federation of Nigeria, has 

been presented to the Senate of 

the National Assembly. And that 

the plaintiffs were not invited 

to the public hearing that the 

Senate of the National Assembly 

had in respect of the bill. 

Notwithstanding, he stated that 

to Sections 1(2a), 5, 8, 16, and 

17 of the Terrorism Prevention 

(amendment) Act, 2013. 

The first witness, tagged 

prosecution witness 1, an 

investigator with the Directorate 

of State Security (DSS), told the 

court that he met the accused 

persons while investigating the 

bomb blasts that led to close 

to a hundred deaths. 

He said: “I came to know 

the accused persons during 

the cause of my investigation. 

Ahmad Abubakar was the first 

to be arrested on April 22, 2014 in 

Sanga, Kaduna State; Mohammed 

Sani Ishaq was arrested in Jabi, 

FCT on April 24, 2014; Yau was 

arrested on April 29 in Kano 

state; Mohammed Annas was 

arrested in Katsina State on May 

3, 2014. The next to be arrested 

was Adamu Haruna Yusuf, on 

May 5 in Bauchi State, while 

Aminu Ogwuche was arrested 

in Sudan and extradited to 

Nigeria on July 15, 2014.” 

He said he knew Ogwuche 

way back in 2011 when he 

was deported to Nigeria 

from the United Kingdom for 

belonging to a banned terrorist 

organisation. 

At a point, Ogwuche’s 

the plaintiffs submitted a petition 

to the Senate when they became 

aware that a public hearing had 

been conducted. He added 

that the petition was aimed at 

sensitising the Senate on how 

the amendment will negatively 

undermine the plaintiffs and 

violate their constitutional rights. 

The deponent averred that 

Section 5(3) of the bill seeks to 

expand the powers of OGFZA 

such that it can without further 

assurance take over and perform 

the functions hitherto performed 

by NEPZA. 

While Section 10 of the bill 

further seeks to confer the rights 

to handle oil and gas cargoes 

only at approved oil and gas 

concessioned ports, with freedom 

to investors to choose ports of 

discharge of their cargoes within 

designated terminal at Onne, 

Warri and Calabar ports. 

He stated that the bill did not 

define what constitute “oil and 

gas related cargoes,” and that 

this will give room to situations 

where cargoes intended for SIIFZ 

are wrongly classified as oil and 

gas relates cargoes. 

The deponent further averred 

that, it is a known fact that a 

total of twenty-four ports were 

concessioned to private investors, 

with 14 and 10 in the western 

and eastern zones of NPA 

respectively. 

He stated that only one 

of the port concessionaires, 

Integrated Logistic Services 

Limited (INTELS) operates 

in Warri, Onne and Calabar 

ports and that the amendment 

proposed in Section 10 will 

confer a right of monopoly 

only on INTELS, which he 

said will be to the deterrent 

of other port concessionaires 

and free zones. 

Trial of Nyanya Bomb Blast Suspects 

Finally Begins 

counsel, Ahmed Raji (SAN), 

interjected, arguing that “the 

suspect is not standing trial on 

whether or not he is a member 

of a terrorist group banned in 

the UK.” 

He opposed the evidence 

saying the prosecution did not 

tell the court of the deportation 

order and therefore could not 

give evidence on its content. 

Raji said the evidence PW1 

was giving was irrelevant to 

counts 1, 3,4,5,6,7 and 8 leveled 

against Ogwuche, saying “even 

if the evidence is relevant, it has 

to pass a test of admissibility. 

The PW1 has to produce the 

CTC of the deportation order.” 

He urged the court to 

discountenance the evidence. 

All counsel to the other 

accused persons associated 

themselves with Raji’s 

submission. 

Diri, however, urged the court 

to allow PW1 to continue with 

his evidence, saying, the matter 

bordered on terrorism. 

In a ruling, the trial judge, 

Justice Ahmed Mohammed, 

upheld the objection of Raji, 

saying PW1 was barred from 

giving such evidence unless 

he had the deportation order.

12 


NEWS 

Foreign Products Constitute 80% of Counterfeits 

in African Market, Say SON, ARSO 

Crusoe Osagie 

The African Organisation for 

Standardisation (ARSO) and 

the Standards Organisation of 

Nigeria (SON) yesterday stated that 

products imported from countries 

outside Africa constitute over 80 

per cent of substandard goods 

found in markets in Nigeria and 

other parts of Africa. 

The Director General, SON and 

President of ARSO, Dr. Joseph 

Odumodu, made this known 

during the stakeholders launch 

to announce a three-day expo for 

Chief Executive Officers (CEOs) 

of all African National Standards 

Bodies (NSBs) slated to hold next 

month in Abuja. 

He added that unfortunately, 

most of the influx of the 

substandard goods into the nation’s 

market and the continent are 

deliberately carried out by people 

intent on undermining the African 

market and diminishing the value 

for money in the usage of such 

products, for their selfish benefit. 

According to him, it was against 

this background that the ARSO 

forum in Abuja scheduled for next 

month is planned, to sensitise the 

world on the readiness of African 

standards bodies to strengthen the 

continental economic integration 

by breaking technical barriers to 

trade through standards unification 

to enhance industrial and economic 

empowerment. 

“We do not have a problem 

with products made in 

Africa. Africa only has an issue 

of sub-standardisation due to 

lack of requisite technology and 

absence of the capacity to 

produce at the highest level in 

terms of quality. Currently, we are 

having issues in trading among 

ourselves and we are looking at 

Nnamani’s Companies Plead 

Guilty 

building an intra-Africa trade, to 

take the volume of trade within the 

continent beyond the current 

precariously low level of five 

per cent. 

“If African nations can trade 

with one another, we will not only 

trade more economically, but build 

a more robust African economy,” 

Odumodu said. 

He added that Africa must 

come together to fight its common 

enemies, stressing that the continent 

may not be able to fight its 

enemies with each country acting 

on its own. 

“I believe if we all stick together 

and form a powerful force, it 

may be a lot easier to actually 

check the excesses of those who 

have made Africa to remain on 

its knees all these years. This 

forum which we have tagged 

“Africa Rises for Standards” 

which is to hold in Abuja, will 

among other expectations, bring 

about the strengthening of the 

standardisation capacity of Africa 

through dialogue, information and 

experience sharing to form the 

key elements that will promote 

and sustain Africa’s productivity 

and trade,” he said. 

He noted that the African 

Heads of States declared 2017 

as the year when all the 

countries in Africa will be 

integrated into a Continental 

Free Trade Area (CFTA), but 

maintained that for this to 

happen successfully, the 

countries in Africa have to 

be on the same page, having 

common standards and same 

language in other aspects of the 

quality infrastructure. 

“We believe that the present 

membership of ARSO, which is 

34 countries today, may not serve 

the purpose the Heads of States 

have set for us as a target. It is 

imperative that we must bring 

all African countries under the 

umbrella of the ARSO so that in 

2017, when the CFTA starts, we 

will be on the same page and raise 

the volume of intra-Africa trade 

from the current 5 per cent to 30 

per cent yearly, moving forward,” 

he said. 

Paul Obi in Abuja 

Four companies, Rainbownet 

Nigeria Limited, Cosmos 

FM, Capital City Automobile 

Nigeria Limited and Renaissance 

University Teaching Hospital, 

allegedly associated with the 

former Governor of Enugu 

State, Chimaroke Nnamani, 

yesterday pleaded guilty to 

a 10-count amended charge 

preferred against them by the 

Economic and Financial Crimes 

Commission (EFCC) at the Federal 

High Court in Lagos. 

The companies were alleged to 

have failed to comply with lawful 

inquiry made by the commission. 

At the sitting, counsel to the 

companies, Ricky Tarfa, SAN 

pleaded guilty to the 10-count 

charge when it was read to him. 

In view of his plea, the 

prosecuting counsel, Kelvin Uzozie 

asked the court to fix a date for 

proof and review of facts and for 

sentencing. Justice Mohammed 

Yinusa consequently adjourned 

proceedings to May 27, 2015. 

Count one of the charge read: 

“That you Rainbownet Nigeria 

Limited, between February 

and March 2007 within the 

jurisdiction of this court failed to 

comply with the lawful inquiry 

of Ibrahim Lamorde, Director of 

Operations of the EFCC on behalf 

of the commission on this opening 

statement of affairs of Rainbownet 

Nigeria Limited, from inception 

to February 2007 and you thereby 

committed an offence punishable 

under Section 38(2) of the EFCC 

Act, 2004.” 

Another count read: “That you 

Cosmos FM between February 

and March 2007 within the 

jurisdiction of this court failed to 

comply with the lawful inquiry 

of Ibrahim Lamorde, Director 

of Operations of the EFCC on 

behalf of the commission on the 

audited account of Cosmos FM, 

for the periods ended 2003, 2004, 

2005, and 2006 and you thereby 

committed an offence punishable 

under Section 38 (2) of the EFCC 

Act, 2004 

The EFCC in 2014 sought for 

a separate trial of the companies 

which were previously arraigned 

alongside Nnamani in a N5 billion 

money laundering case in 2007. 

EFCC counsel, Uzozie told the 

court that the matter had been 

stalled severally on account of 

Nnamani’s frequent applications to 

travel abroad for medical treatment 

on the grounds of ill-health. 

Nnamani was first arraigned 

before Justice Tijani Abubakar 

in 2007. 

The ex-governor was docked 

alongside Sunday Anyaogu, his 

then aide and six firms linked 

to them: Rainbownet Nigeria 

Limited, Hillgate Nigeria 

Limited, Cosmos FM, Capital 

City Automobile Nigeria Limited, 

Renaissance University Teaching 

Hospital and Mea Mater Elizabeth 

High School. 

The case was re-assigned to 

Justice Charles Archibong following 

the transfer of Justice Abubakar, 

now of the Appeal Court, out of 

the Lagos division of the Federal 

High Court. 

Also, the case was re-assigned 

to Justice Yinusa, after Justice 

Archibong (now retired) was 

also transferred out of the Lagos 

division of the court. 

RENDERING ACCOUNTS TO SHAREHOLDERS 

L-R: Chairman, FrieslandCampina WAMCO Nigerian Plc. Mr. Jacobs Moyo Ajekigbe; Managing Director, Mr. Rahul Colaco; and the new CEO, 

Royal FrieslandCampina ,Mr. Roelof Jooslen, at the 42nd annual general meeting of the company in Lagos...yesterday Sunday Adigun 

Toyota Nigeria Recalls Some 

Models of Yaris, Hilux over 

Faulty Airbag 

Bennett Oghifo 

Toyota Nigeria Limited (TNL) 

has said the inflator modules 

of the airbags of two of the 

Toyota models - Yaris and 

Hilux - it sold could be faulty 

and has requested owners of 

these vehicles to prepare to turn 

them in for repairs. 

Specifically, the vehicles are 

the Toyota Yaris manufactured 

between 2003 and 2005 and the 

Toyota Hilux manufactured 

between 2003 and 2007. 

According to the Managing 

Director of Toyota Nigeria 

Limited, Mr. Kunle Ade-Ojo, they 

had to embark on this special 

service campaign after being 

informed of the development 

by Toyota Motor Company 

(TMC), Japan last week. 

The airbag issue is a global 

problem because it affects 

all vehicles/makes that use 

the airbag inflator device 

manufactured by Takata, a 

Japanese company. 

Takata announced the airbag 

issue in April 2013, saying it 

involves defective inflator and 

propellant devices that may 

deploy improperly in the event of 

a crash, shooting metal fragments 

into vehicle occupants. Records 

show that at least six people 

have died worldwide due to 

the defect. 

Kunle Ade-Ojo stated that 

vehicles sold by TNL would 

be brought in through their 

dealers to be repaired free of 

charge and that the procedure 

would be made public soon. 

According to him, a list of 

the vehicles involved was being 

compiled to enable them know 

the number to be attended to. 

He, however, noted that 

not all the units were affected, 

explaining that for the Hilux 

vehicles under consideration, 

the airbags with defective are 

those on the driver’s side but that 

the Yaris had defective devices 

on either the driver’s side or 

passenger’s or both. 

The Hilux and Yaris vehicles 

purchased from TNL’s dealers, 

he said would be attended to 

but that other vehicles brought 

in through the grey market (not 

through TNL, an authorised 

representative of Toyota) would 

have limited support. 

He explained that “We 

vigorously advertise, in the 

newspapers, of the need of 

buying your vehicle from Toyota 

Nigeria Limited authorised 

dealers. What we have records 

of are those brought in by TNL 

that we can treat accordingly. Any 

vehicle that has been brought 

through the grey market will 

have limited support. The only 

way it can have support perhaps 

is when the manufacturer says 

such person bought the vehicle 

to your market. Priority will be 

given to our customers.” 

Sultan Pleads with Gowon to 

Continue to Offer Advice to 

Political Leaders 

Mohammed Aminu in Sokoto 

The Sultan of Sokoto, Alhaji 

Muhammad Sa’ad Abubakar III, 

yesterday stressed the need for 

political leaders to collaborate 

with traditional leaders, to 

ensure peace and stability in 

the country. 

He also pleaded with the 

former Head of State, Gen. 

Yakubu Gowon (rtd), not to 

relent in offering useful advice 

to political leaders, to move the 

nation forward. 

The monarch made the 

remark yesterday, when Gowon 

paid him homage in his palace 

in Sokoto. 

He advised political leaders 

in the country, to always reach 

out to traditional leaders and 

seek counsel on the best way 

to address issues of governance. 

The sultan underscored the 

need for the leaders of different 

faith to come together, respect 

and understand one another, 

saying this would go a long 

way in ensuring harmony in 

the polity. 

“I still remember as a young 

man the mutual understanding 

that existed between leaders of 

various faiths in the country. 

Those good days were the 

days we always cherish and 

want to see them in our lifetime 

again. We want to bring back 

the good old days of harmony, 

understanding and respect for 

people of every faith. We have 

seen it before and we want to 

strengthen it. 

“I know during the civil 

war, a special prayer team 

was set up at the request of 

Gowon to my late father, Sultan 

Abubakar III, to pray for the 

country. That prayer session 

that started during the war 

at your request, has not been 

disbanded but still intact. 

“I want to let you know that 

these clerics come together every 

morning to recite the Quran and say 

special prayers for the nation at the 

Sultan Bello Mosque, and they have 

not stopped since then,” he said. 

The monarch said the Sultanate 

Council would partner Gowon’s 

non governmental organization, 

Nigerian Praise, to continue to 

pray for peace and harmony in 

the country. 

He acknowledged the tireless 

efforts made by Gowon in the service 

to humanity and pleaded with him 

not to relent in his efforts to promote 

unity and peace in Nigeria. 

The sultan urged the former 

Head of State, to continue to 

offer useful advice to political 

leaders, on the way forward 

for this country. 

“You still have a big role to 

play in peace and stability of 

this country, just like you did 

during the civil war. Please, 

don’t sit back, don’t think 

you are old because Generals 

are never old.

THISDAY WEDNESDAY MAY 20, 2015 13 

WU15-708_NIGERIA_CAMPAIGN_260x360.indd 2 

3/30/15 12:58 PM

14 THISDAY • WEDNESDAY, MAY 20, 2015 

COMMENT 

Editor, Editorial Page PEtEr IShAkA 

Email peter.ishaka@thisdaylive.com 

CAN OSINBAJO SAVE THE JUDICIARY? (2) 

The incoming government should help to sanitise the judiciary, writes Sonnie Ekwowusi 

And if his lordship manages to sit on the day in 

question, the court case is unlikely to be heard 

either because the court is not “well disposed” 

to take any trial or contentious matter on that 

day or because the counsel on the other side 

is asking for an adjournment to enable him 

file a further and better affidavit or respond to the counter 

affidavit recently served on him or to get the bailiff to effect 

service of the court processes on the other party and so 

forth. For failing to accede to the extortionist bid of a court 

registrar or a court clerk or a court bailiff, a litigant risks 

having his case permanently kept in the cooler until such 

a time he decides to cooperate in the evil of extortion. To 

secure an early date at the Court of Appeal or the Supreme 

Court for the hearing of a litigant’s case is an impossible 

thing these days. Oftentimes the lawyer is talked into 

parting with a sum of money before he is given an earlier 

date failure which he is told that the diary is congested and 

can no longer accommodate any new case or application. 

I can go on and on recounting the institutionalised corrupt 

structures hindering the smooth dispensation of justice in 

Nigeria. 

Therefore beyond the euphoria of decorating some 

courtrooms with hi-tech equipment, introduction of the 

Woolf’s front-loading method and innovative civil procedure 

rules and all that, there is the urgent need to address the human 

character deficit that is constantly giving the judiciary a 

bad name and depicting it as one incorrigible and incurable 

institution. In these times of crisis of integrity, only men and 

women of unquestionable character are needed to redeem 

the Nigerian judiciary. Anything short of this is begging the 

question. To guarantee an independent, incorruptible and 

courageous judiciary, the late Justice Akinola Timothy Aguda 

recommended that worthy persons be appointed to the 

Bench. Of course, the employment of worthy judicial personnel 

such as court bailiffs, court clerks, court registrars, court 

messengers and other judicial personnel who play vital roles 

in the dispensation of justice is also absolutely necessary. 

After all, as former Chief Justice Aloma Mariam Mukthar 

duly acknowledged, administrative injustice wrought by 

judicial personnel eventually begets legal injustice. Therefore, 

the intervention of Osinbajo is urgently needed to weed out 

the bad eggs in the judiciary and to ensure that henceforth 

only worthy persons are appointed as judges and employed 

as judicial personnel. Happily, the National Judicial Council 

(NJC) has now released new “Guidelines and Procedural 

Rules” for all judicial appointments into superior court 

ONLY MEN AND WOMEN OF UNQUESTIONABLE 

CHARACTER ARE NEEDED TO REDEEM THE 

NIGERIAN JUDICIARY. ANYTHING SHORT OF 

THIS IS BEGGING THE QUESTION 

positions in Nigeria. The new guidelines seek to block 

all leakages, insulate judicial appointment from external 

influence as well as abolish Professor Joseph Richard’s 

prebendalism in judicial appointments. It is hoped that better 

use would made of the new guidelines in resuscitating the 

judiciary. 

As an expert in criminal justice reforms, it is indeed proper 

and fitting that Osinbajo would guide the incoming Federal 

Attorney-General in reforming our much-vaunted deplorable 

criminal justice system. Every time I go to the police station 

or visit the prison, I come out completely depressed. Many 

years ago at Bode Thomas, Surulere, Lagos, Police Station, 

I saw a suspect being tortured upside down. Blood was 

already settling around his nostril, an indication that he was 

being asphyxiated to death. I remember shouting at the 

policemen on duty before the man was reluctantly released. 

Therefore Osinbajo should ensure that the Buhari government 

goes beyond paper work in criminal justice reform. 

Lamentably, about 64% of the inmates in Nigerian prisons 

are awaiting trial. Crime investigation in Nigeria still drags 

on endlessly. Even when suspects are arraigned for trial in 

court, the trial is marred by endless adjournments at the 

instance of the police for lack of vital evidence to prosecute 

the suspects. There are no “Black Maria” vehicles to convey 

the ATI to court on court days. These problems are even 

compounded by corruption. Corrupt police officers arrest 

innocent citizens on trumped-up charges just to extort 

money from them. 

In other climes, the prison system is reformatory, but 

unfortunately in Nigeria it is punitive. Prisoners come out of 

our prisons as hardened criminals and societal dregs. 

It is disappointing that the backlog of recommendations by 

successive governments in Nigeria on how to de-congest our 

prisons have been left unimplemented till date. Therefore 

Osinbajo should ensure that the Buhari government implements 

these recommendations. Dumping of suspects in 

prison without trial must stop. Young persons and juveniles 

should not be dumped in prisons: they should be tried in 

juvenile courts. Suspects who cannot be charged to court 

within two or three months be released from detention as 

stipulated in our constitution. The Federal-Attorney should 

routinely visit the prisons across the country to ensure that 

they are de-congested 

Osinbajo should ensure that the Buhari government 

makes a difference by taking some concrete urgent initiatives 

leading to the reform and overhaul of nation’s criminal 

justice system. 

WHO WILL HELP PDP TO RISE AGAIN? 

Godwin Etakibuebu argues the outgoing ruling party would be on the floor for sometime, unless helped by the APC 

The fall of the Peoples Democratic 

Party [PDP] was big. May be 

the fall was mighty because the 

politicians that were running the 

party at that time believed that 

it would dominate the Nigerian 

political landscape for at least 60 years. In 

fact, one of them actually predicted 100 

years when the “come and chop” or “you 

chop, l chop” unwritten ideology of the 

PDP was at its peak. Then suddenly came 

the fall. 

Being the largest political party in Africa, 

as the runners of the party chose to call 

it while it lasted, the fall also became the 

“largest fall of any political party in the 

annals of African history”. The magnitude 

of the fall, by law of gravity, may dictate 

that unless there is external hand of help, 

this fallen “elephant” may not be able to 

rise again. And if that happens, which is 

a possibility, then the first assignment for 

genuine sympathisers of the PDP to embark 

upon is to critically do a clinical analysis of 

the route taken by the victim [yes, PDP is 

now a terrible victim of its own mismanagement], 

the type of food it ate while on 

the journey, the weight it gained while on 

the voyage [that led to the disaster of the 

fall] and ascertaining the reality of existence 

of any help to raise the fallen elephant. 

I mentioned sympathisers deliberately 

for a reason. Ordinarily, sympathisers are 

not to be saddled with the responsibility of 

resuscitating the dying giant. That ought 

to be the direct duty of the PDP leaders. 

But unfortunately we all can see that there 

is a vacuum at the leadership position of 

the PDP, more so with the war of attrition 

going on between the party management 

cadre and the national working committee. 

If we can listen properly to the sound from 

the inner room of the party, it is saying 

something like “it is finished”. I may be 

wrong though but for now, that is what 

l am hearing. Permit me to present my 

feelings of what might happen next. 

As the leader of the party [PDP], 

President Goodluck Jonathan, prepares 

to bow out of office on May 29, 2015, he 

is learning fast on daily basis that he is a 

“political orphan” already and that there 

is no ready-made “orphanage home” to 

adopt him. And by the time, my brother 

from Otuoke Community of Bayelsa State, 

gets back home from Abuja, l cannot see 

him coming out in hurry to the major cities 

of Abuja, Kaduna, not even Maiduguri 

[where members of the notorious Boko 

Haram group he defeated are still nursing 

their wounds], Lagos cum Ibadan [can he 

forget in hurry how the Lagos/Ibadan axis 

of the South/West royalties dealt with him 

most treacherously during his presidential 

campaign of that zone?], Benin or even in 

Yenagoa [where his own PDP lawmakers at 

the National Assembly have decamped to 

the All Progressives Congress] to think of 

helping the fallen PDP back to its feet. 

President Goodluck Jonathan, as typical 

Izon man, is brave by nature. And having 

been brought up in the Izon tough and 

deadly terrain [yes, those that are created 

by God to survive in oceanic environment 

of the Niger Delta are akin to those that are 

created by the same God to survive in the 

deadly desert of the world – go and study 

the Kanuris of the Northeastern Nigerian]. 

Yet, at this point of being down on the 

floor, he, as a human being, is “dazed”. 

His confidence, which may take time to 

return anyway, cannot be on how to “bring 

PDP back to its feet”. It is only human not 

to think like that, at least for now. That is 

about Jonathan on the one hand. 

On the other hand, the incumbent 

National Chairman of the PDP, Adamu 

Muazu, is not in a position to think of what 

can be done to help the fallen elephant 

come up on its feet again. No, Adamu 

Muazu cannot do anything because he 

was an identifiable “disconnected pillar 

of disaster in the falling game-project” of 

the party. Here was [or is?] a Chairman, a 

former two-time PDP governor of Bauchi 

State, with a sitting PDP governor [Isa 

Yuguda] in the same state, in addition 

to the Federal Capital Territory Minister, unable 

to win a single slot [Governor, Senate, 

House of Representatives and State House 

of Assembly] for the party, but conveniently 

“supervised the stoning” of the President 

in Bauchi before the election. Is there any 

Nigerian that does not know that everything 

is wrong with this man politically? 

Furthermore, this same greatest political 

liability of the PDP spoke with a shameless 

audacity that he would not resign as 

chairman of the party when he was called 

upon to do so in view of the disaster he 

led the party through during the recently 

concluded general elections; but instead, 

chose to embark on a medical trip overseas. 

In view of the forgoing, the question of 

who helps the PDP to rise again becomes 

inevitable. 

My guess is that this fallen giant – PDP 

– is most likely to remain on the floor for 

a long time to come due to the “excess fat 

of corruption” weighing it down while 

dancing “naked in the market place of the 

Nigerian politics”. Or in the alternative, the 

All Progressives Congress which will soon 

be in government at the centre will help 

to lift up the PDP from its fallen position. 

This the APC may do, if it hired the same 

musicians with the same musical instruments 

of “corruptive madness to the same 

market square”. 

It shall not be a surprise, to me at least, if 

that happens because the APC membership, 

as presently constituted, is not lacking in 

“proven Nigerians of greed”. Even, more 

fearsome on this God-forbid-expectation, 

is the reality that most of those that 

consolidated the success of the APC were 

those that made the PDP “complete” while 

the macabre dance of corruption lasted. It 

is only Major General Muhamadu Buhari 

(rtd) that makes the difference in comparative 

analysis between the APC and PDP. 

Nigerians are watching! 

Etakibuebu, a commentator on public 

affairs, wrote from Lagos

THISDAY • WEDNESDAY, MAY 20, 2 015 

15 

EDITORIAL 

WHITHER THE VICTIMS SUPPORT FUND? 

The quietness of the committee administering the fund is worrying. Where are they? 

Due to the humanitarian crisis 

caused by the Boko Haram 

insurgency in the North-eastern 

part of the country, the federal 

government last year set up the 

Victims Support Fund which is 

aimed at ameliorating the suffering 

of those at the receiving 

end of the menace. At the launch in Abuja, financial 

pledges to the tune of N58.79 billions were made by 

individuals and corporate organisations. While we 

do not know to what extent those pledges have been 

redeemed, we are even more worried that not much 

has been heard about the activities of the body since 

inauguration. 

As we stated at the time, the ideals for setting up 

the support fund are no doubt lofty ones. Apart from 

its humanitarian value, the fund is one idea that had 

assured the world that the Nigerian government was 

alive to its responsibility to the citizens, especially 

the vulnerable. But conceiving the idea, setting up 

the committee and even realising huge donations 

at the fund-raiser was the easiest part of the whole 

project. The harder part, in our reasoning, was for 

the donors to make good their pledges and for the 

committee already established to do the tough job it 

DID THE VICTIMS 

SUPPORT FUND WIND UP 

ITS OPERATION AFTER 

RAISING THE MONEY? 

EXACTLY HOW MUCH WAS 

REDEEMED AND WHERE IS 

THE MONEY? 

was assigned. The 

litmus test, as we also 

argued, would be in 

the implementation 

and the judicious 

administration of the 

fund in such a manner 

that the distressed 

and the displaced 

would benefit. Unfortunately, if there are evidences of 

that, most Nigerians are yet to see it. 

In the course of his recent visit to the Diffa Province 

in Niger Republic to see the more than 200,000 Borno 

State indigenes who fled from the Boko Haram 

insurgents to the neighbouring country, Borno State 

THISDAY 

EDITOR IJEOMA NWOGWUGWU 

DEPUTY EDITORS EDDY ODIVWRI, ROLAND OGBONNAYA 

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THISDAY NEWSPAPERS LIMITED 

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‘GBAYODE SOMUYIWA 

ASSOCIATE DIRECTORS PETER IWEGBU, FIDELIS ELEMA 

GENERAL MANAGER PATRICK EIMIUHI 

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ART DIRECTOR OCHI OGBUAKU II 

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TO SEND EMAIL: first name.surname@thisdaylive.com 

Governor, Alhaji Kashim Shettima, told the displaced 

people that he was setting up a Task Force on Evaluation, 

Reconstruction, Rehabilitation and Re-integration 

of Insurgency Victims. The mandate of this 

body would be to assess the safety and damage in all 

liberated territories while commencing reconstruction 

works to ensure basic necessities of life, such as water, 

healthcare facilities, access to food and shelter, are 

made available in addition to fumigating all areas to 

guarantee health security given possible decomposition 

of bodies. He also announced a special welfare 

package for the displaced persons in cash which was 

handed over to camp officials. 

We find it curious that the Borno State 

government would be setting up 

another body to take care of the victims. 

That suggests that there are serious 

issues with the one established by the federal government 

with much fanfare many months ago. In fact, 

ever since the inauguration of the Victims Support 

Fund, not much has been heard about its activities. 

Yet in the face of the numerous challenges being 

suffered by the hundreds of thousands of Nigerians 

who were victims of the Boko Haram insurgency in 

the North-east, many have been wondering what 

happened to the money raised in their names. If the 

pledges were not redeemed Nigerians need to know 

and if there are challenges that inhibit the committee, 

it is also proper to place such in the public arena. 

As far as the Boko Haram victims are concerned, 

the only institution that seems to be making any 

efforts is the National Emergency Management 

Agency (NEMA). The pertinent questions here are: 

Did the Victims Support Fund wind up its operation 

after raising the money? Exactly how much was 

redeemed and where is the money? Whatever may 

be the answers to these questions, the crucial issue 

is that the Nigerian citizens who were displaced as a 

result of Boko Haram insurgency and in whose name 

a Fund was set up deserve accountability. 

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ATIKU AND THE BUHARI PRESIDENCY 

Over the years, former Vice- 

President Atiku Abubakar has 

been the most visible politician, 

especially in the politics of 

Nigeria’s presidency. In fact, 68 

year-old Atiku has so far has 

spent nearly half of his age doing politics. 

Atiku is today one of the stakeholders in the 

Buhari Presidency and the All Progressives Congress 

(APC). The Buhari presidency is a product of 

change- a change that most Nigerians are keen for. 

Is Atiku a changed man? It seems Atiku is trying 

to right the wrongs of the past. However, Atiku still 

means different things to his critics and supporters. 

Atiku’s critics often argue that the core reason he 

ventured into politics was not different from that of 

a typical Nigerian politician- the quest for power 

and self enrichment. But his supporters say, mere 

politics is not what only defines Atiku, but the way 

he does it. Atiku is politically adventurous and his 

strategies in politics are always audacious- they 

surpass those of ordinary Nigerian politicians. 

Over the years, Atiku has been the most visible 

politician, especially among those who strive for 

the country’s presidency. His opponents are always 

quick to describe him as opportunistic and a desperate 

serial presidential contestant. His supporters see 

his unrelenting participation in party politics as a 

clear sign of Atiku’s passion to serve his fatherland. 

Atiku’s supporters always boast that Atiku is one 

of the few top-notch politicians in Nigeria that 

fought the PDP– he engineered the biggest revolt 

that shocked the PDP (the famous new-PDP). 

And, despite that, Atiku lost the APC presidential 

primaries to Buhari and his preferred candidate also 

lost the Adamawa APC governorship primaries. 

Atiku helped the APC with his immense war 

chest that easily scares off opponents- vast political 

network and connections. 

Muhammadu Buhari- the politician appears to 

have realised that Atiku is such a man that must be 

factored in the present Nigerian political equations. 

Atiku was the most prepared candidate for the 

2015 presidential election. He has a well-drafted 

policy document loaded with fine programmes and 

projects, christened “The Atiku Abubakar Formula”. 

Atiku promised, if elected, his medium-term strategy 

would be to ensure that recurrent expenditure is 

financed fully with non-oil revenues, while all oil 

proceeds will be invested in infrastructure, security, 

education and health. 

The Buhari presidency will be a defining moment 

for Atiku to re-launch himself as a true democrat, 

who is already to sacrifice for the good of the 

nation. Though the ultimate measure of a democrat 

is not how he stands at the moment of comfort 

and convenience, but how he stands at times of 

challenges and controversies. Nigerian will be closely 

watching Atiku in the Buhari presidency. 

Zayyad I. Muhammad, Jimeta, Adamawa State 

WHAT SHALL IT PROFIT POLITICIANS? 

About six months ago when political 

parties began their primary elections 

to choose their representatives for 

the various elective posts across the 

federation, many didn’t know where 

the pendulum would swing. 

To the outgoing ruling party, the Peoples 

Democratic Party, thought it will be business as 

usual; all they needed to do was to clinch their 

party’s ticket for the various elective posts and wait 

till they get to the over-crowded bridge before 

thinking of crossing it. 

The emergence of General Muhammadu Buhari 

as All Progressives Congresss presidential candidate 

turned the tide which led to a band wagon effect 

across the federation coupled with INEC’s boss, 

Professor Attahiru Jega’s uncompromising stance on 

the use of permanent voter cards and card readers. 

When many politicians embarked on this 

political journey, they never gave it a thought that 

General Buhari and his wind of change mantra 

would gather as much support than he did in 

previous elections. Buhari’s overwhelming victory 

at the presidential polls shattered their plans at the 

state level. In order not to be swept away by the 

political tsunami raging from the centre, the political 

Shenanigans in collaboration with some repugnant 

political turncoats who do not want to be caught 

in the web of change manipulated and rigged the 

elections in their states. 

The general elections has come and gone with its 

winners and losers, the pandering predilections that 

followed suit is gradually fading away, some winners 

and their would be larceny of aids have confined 

themselves in solitude. While others are getting 

ready to take over the mantle of leadership, there 

seems to be deadening silence in some quarters. 

The premise of this piece is for how long will 

many of these soon to be sworn in elected officials 

last in office? The emergence of the incorruptible 

czar, General Buhari as president-elect is already 

sending shivers down the spines of many and 

no one would want to be found wanting in the 

discharge of his/her duties before and after May 29, 

when the president-elect will be sworn in as the 

substantive president of the emerging Nigeria. 

So far, the revelations at the ongoing tribunals 

against the legitimacy of the elections that returned 

elected officials in some states are too damning and 

outrageous. I don’t need a political clairvoyant to 

foresee what will happen in the next six months; 

my wager is that in less than six months from now, 

both the state tribunals and law courts will start 

upturning the electoral victories of some elected 

governors, senators and honourable members. 

They will vacate the seats they have been illegally 

occupying for the legitimate occupants. 

Joe Onwukeme, Enugu

16 

MIDWEEKPOLITICS 

THISDAY • WEDNESDAY, MAY 20, 2015 

Group Politics Editor Olawale Olaleye 

Email wale.olaleye@thisdaylive.com 

08116759819 SMS ONLY 

THE NEWSMAKER 

From This Day Shall So Ye Know Them 

The introduction, at the weekend, of official portraits and titles for the presidentelect 

and vice president-elect, Muhammadu Buhari and Yemi Osinbajo, by 

the All Progressives Congress signifies the advent of the “CHANGE” era. 

Olawale Olaleye writes 

Although reservations still 

abound, it is evident that the 

“CHANGE” being offered by the 


may have truly begun to dawn 

on the system and indeed, in 

all spheres of her body polity. Just many weeks 

back, the president-elect, Muhammadu Buhari 

was said to have flared up with some people 

for inadvertently omitting the title, “General” 

from his name. 

And in doing this, he was said to have 

emphasised that the title meant to him what 

SAN is to lawyers or Professor to PhD holders. 

His reasons, of course, made sense to a 

lot of people because the military remains his 

primary constituency, whether or not he is now 

a democratic convert. 

But his handlers have scored another goal in 

the management of this rather innately rigid 

fellow. For starters, this says a lot about the 

psychology of the minders of the president-elect 

as against the predisposition of those on the 

other side. 

It speaks even more to their philosophy and 

school of thoughts. Importantly, it shows that 

a larger chunk of those on this side (although 

there are a few terrible ones) are more organised, 

methodical, good planners and often times, 

scientific in their approaches. They are good 

thinkers with effective strategy. 

Preparatory to assuming office next week, 

the Buhari team has unveiled official portraits 

of the president-elect and his deputy, Osinbajo 

replacing whatever has been in existence before 

now. The initiative, the team reckons unfurls 

the kind of presidential aura that is to come 

with the Buhari presidency. 

In addition, the Buhari presidency has requested 

to be referenced differently from the General title. 

This, unfortunately, may have signaled the sudden 

death of the initials – GMB – as the man now 

wants to be addressed simply as Muhammadu 

Buhari, President and Commander-in-Chief of 

the Armed Forces, Federal Republic of Nigeria. 

Outside his official portrait, nothing significant 

has changed with the vice president-elect. He 

shall be known and addressed thus: Professor 

Yemi Osinbajo, SAN, vice-president of the Federal 

Republic of Nigeria. 

This is, however, understandable. Although 

like Buhari, who admires his title as a General, 

the SAN title means “everything” to Osinbajo 

who became a professor at law in his 20s. 

But Buhari had to sacrifice his title to signify 

change – the kind of change that an average 

person can relate with. 

“From May 29, 2015 the President-elect 

and Vice-President-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,” a statement by Garba 

Shehu, Directorate of Media and Publicity of 

the President-elect Muhammadu Buhari Media 

Team has said. 

Interestingly, in giving kudos to the Buhari 

team, the transformation effort didn’t start 

with the dropping of his General title or the 

unveiling of the duo’s official portraits. It started 

immediately after Buhari won the presidential 

primaries late last year. His outward and inward 

transformation through conscious communication 

management as well as his wardrobe has been 

both dramatic and stupefying. 

There is no doubting the fact that the Buhari 

that contested this year’s election was not the 

one that slugged it out with outgoing President 

Buhari…no longer your regular GMB 

Goodluck Jonathan in 2011 or the one that battled 

either former President Olusegun Obasanjo in 

2003 or the late Umaru Musa Yar’Adua in 2007. 

The Buhari of 2015 is a brand new one. And 

since he set out on this presidential journey, the 

Team Buhari has been more than extra-ordinary, 

whether in thinking, utterances or even attitudinal 

disposition. The transmutation has been wowing, 

the same way the choice of his deputy – a cerebral 

professor at law has remained an incalculable 

asset to the combo. Osinbajo is unarguably a 

huge asset to the incoming administration, an 

indication that change is impossible in spite of 

However, the change in 

name, title or portrait is 

merely significant; it has 

no bearing with the real 

change that the Nigerian 

people seek. Although 

it could point in some 

positive direction, it is not 

on its own sufficient. Thus, 

the Buhari Team must 

not forget that it rode on 

the strength of a tripod of 

palpable national malady – 

corruption, insecurity and 

the economy – to becoming 

president-elect 

Osinbajo…still the cerebral SAN 

the stifling political and economic environment. 

However, the change in name, title or portrait is 

merely significant; it has no bearing with the real 

change that the Nigerian people seek. Although 

it could point in some positive direction, it is 

not on its own sufficient. Thus, the Buhari Team 

must not forget that it rode on the strength of 

a tripod of palpable national malady – corruption, 

insecurity and the economy – to becoming 

president-elect. 

If the change must transform to what the 

average man can relate with, at least, in the 

first year in office, addressing the scourge of 

corruption with a degree of political will and 

leadership is not negotiable. Buhari and his team 

must not only set example, they must lead by 

example, that way showing that they are ready 

to deliver on their promises to the people. 

Buhari’s image of an incorruptible is not 

enough. In fact, a majority of those who voted 

for him cannot relate with that track record of 

tackling corruption. But they believed the story 

and tagged along with the crowd. For this reason 

and more, Buhari must let them have a real life 

practical experience of what it looks and feels 

like to genuinely fight corruption. 

Insecurity has become such a menace that even 

the lives of those in power are no longer safe. 

Terrorism has only stolen the show; the branches 

of insecurity, especially the one that seems to 

threaten the coexistence of the Nigerian people 

are a legion. Again, Buhari rode through this 

on the strength of his antecedents as a military 

ruler, who warded off external aggressions at 

different times. The time and chance are different, 

no doubt, leadership must not be found wanting 

here either. 

The third of the tripod which is the economy 

is now a thorn in the flesh of the federating 

units. States can no longer pay salaries much 

less fund capital projects. It is so bad that the 

federal government is seeking a loan from the 

World Bank to fund its local budget, while the 

governors want a bailout. 

Power as a content in the economy is yet 

another huge challenge for the Buhari administration. 

Three preceding administrations have 

“tried” to fix power but ended up frittering away 

the fortunes of the country and inadvertently 

encouraging corruption as a budding industry 

with escalating poverty index. Power, therefore, 

for Buhari is not negotiable. What has made it 

impossible must be unraveled and addressed 

accordingly if the change can begin to sound 

and look real. 

Clearly, it a desperate situation and the nation, 

is evidently in dire strait. Leadership – uncompromising 

leadership is the way out here. Yes, 

Buhari can offer it only if not hounded on the 

grounds of extraneous political considerations. 

Change is an everyday familiar word. Ironically, 

it is not actionable in the day-to-day living of 

the people. But constructive and developmental 

change can be compelled through democratic 

means for the collective good of all. 

This is why the duo of Buhari and Osinbajo 

must neither be carried away by the glamour of 

office nor distracted by its illusion; the task of 

delivering is not negotiable and the contract is 

subject to renewal within a fleeting four years. 

Only performance – stellar performance – can 

guarantee them another chance to consolidate. 

However, as the world now knows and 

recognises them by their new look and title 

being evidence of change – the real change, the 

tangible change – will ultimately stand them 

out as a manifestation of the expectations of 

the people.


EVENTS&REPORTS 

17 


Amaechi in a handshake with Soyinka while Amosun and Tinubu look on 

Amaechi: An Enigma in Book Record 

At the launch of a book capturing his eight years tenure as the Rivers State Governor, Hon 

Rotimi Amaechi was described severally by friends and admirers, writes Shola Oyeyipo 

On Wednesday, May 13, captains 

of industries, crème de la crème 

of the society and indeed major 

players in the All Progressives 

Congress (APC) that is getting 

set to constitute the new 

government in a matter of days converged 

on the Civic Centre, Victoria Island, Lagos for 

one purpose – to celebrate one of their own, 

outgoing Governor of Rivers State, Hon. Rotimi 

Chibuke Amaechi. 

The event was the launching of a book 

authored by the duo of renowned media 

practitioners, Dr. Chidi Amuta and Dr. Yemi 

Ogunbiyi, which was forworded by Prof. Wole 

Soyinka and titled: Dynamics of Change: The 

Amaechi Years – a documentation of the activities 

of Governor Amaechi in his eight years in the 

saddle in the state. 

In attendance were very many dignitaries. 

Hardly was anyone patient enough to run 

through the very lengthy list of important 

personalities that graced the occasion, so they 

adopted existing protocols. 

The list included Alhaji Aliko Dangote, Prof 

Wole Soyinka, Bishop Mathew Kukah, Justice 

Karibe Whyte, Senator Bola Tinubu, Justice 

Oguntade, Dr. Jim Ovia, former and present 

Managing Directors of Shell Petroleum, Whyte, 

Chief Bisi Akande, Chief John Oyegun, Mallam 

Nasir El-rufai and the Ogun and Zamfara States 

Governors, Senator Ibikunle Amosun and Alhaji 

Abdul’aziz Abubakar Yari respectively. 

Others are Senator Olorunibe Mamora, Senator 

Daisy Danjuma, former Ekiti State governors, 

Chief Segun Oni and Dr. Kayode Fayemi; APC 

National Secretary, Alhaji Mai Mala Goni, APC 

National Woman Leader, Alhaja Rahmatu Tijani 

Aliyu, Mr. Tonye Cole and the Rivers State 

APC governorship candidate, Hon. Dakuku 

Peterside, amongst others. 

However, one significant thing that happened 

at the well-attended event was name calling. 

Amaechi was called several names by those 

privileged to speak about him. Although positive 

names, they all seemed to capture the character 

of the man, Amaechi, who people see from 

different perspectives and lenses. 

For instance, he was described as ‘great 

friend,’ ‘strong headed,’ ‘adamant,’ ‘reliable 

ally,’ ‘General of the common sense revolution,’ 

‘non-extravagant’, ‘honest and blunt 

to a fault,’ ‘good example of common sense 

revolution,’ ‘a man with courage of conviction,’ 

knowledgeable,’ ‘driven by the well-being of 

others,’ ‘unhappy with unjust system,’ ‘restless,’ 

‘activist,’ ‘change agent,’ ‘a hounded man,’ 

‘a social democrat,’ and a ‘dogged fighter,’ 

among several other names. 

While telling his own story, Amaechi however 

denounced a name nobody called him at the 

venue – stubborn. He had to tell the people that 

he was not a stubborn person as some people 

may have concluded, owing to the fact that 

he was one person that stood firmly against 

President Goodluck Jonathan’s administration 

till it was eventually ousted and that is the 

reason he got the title: ‘General of Common 

Sense Revolution.’ 

“I’m not a stubborn man. If you have better 

opinion, I will succumb. I’m principled. Some 

people say if the president speaks I shouldn’t 

speak. If I continue to shut my mind they’ll 

cheat Rivers State. I’m not stubborn. I just 

want us to know the rules and live by the 

rules,” he noted, 

He explained that his grouse with President 

Jonathan, which ultimately led to his exit from 

the Peoples Democratic Party (PDP), was a result 

While telling his own 

story, Amaechi however 

denounced a name nobody 

called him at the venue – 

stubborn. He had to tell 

the people that he was 

not a stubborn person 

as some people may 

have concluded, owing 

to the fact that he was 

one person that stood 

firmly against President 

Goodluck Jonathan’s 

administration till it was 

eventually ousted and that 

is the reason he got the 

title: ‘General of Common 

Sense Revolution 

of what he considered wanton confiscations of 

oil wells belonging to the Rivers State people, 

which he couldn’t bear. 

“They were taking our oil wells because 

Bayelsa State produced the president. So, I 

allowed Kalabari chiefs to protest at Abuja 

and that rattled them and now, after they have 

agreed that there was a mistake in the boundary 

adjustment they have named a Bayelsan as 

the Surveyor-General. 

“Though unfortunately, they stole the result 

of the elections in Rivers State, we hope the 

court will give us back our mandate,” he said 

optimistically. 

Amaechi, who openly said he would have 

been doomed had President Jonathan won the 

2015 elections, also gave an insight into what 

seemed as a frosty relationship between him 

and former Lagos State governor and a national 

leader of the APC, Senator Bola Tinubu in 

the build up to the merger of the four legacy 

political parties that gave birth to the APC. 

“One day, I went to Asiwaju’s house. I knelt 

down before him that he should not let us 

fight because if we lose the election I would 

be finished. They had already said I should 

not be allowed to leave the country after the 

elections. I knew I would be in trouble if we 

had lost the election. 

“Some of my friends told me they can’t talk 

to me at the airport. Some told me not to come 

to their houses with my phones so that the 

president would not track me to their homes. 

“I told him (Tinubu) that it is not how much 

we would make from the system that matters 

but that he would make history as leading 

the first civilian coup in Nigeria. I reminded 

him that so many Yoruba leaders tried but 

couldn’t achieve it. Just imagine that the PDP 

won the election, what would have happened 

to me?” he noted. 

The event also brought to fore those people 

who baptized Amaechi with his Marxist orientation, 

his former lecturer at the University of 

Port Harcourt, Dr. Amuta. Interestingly, Amuta 

was a student of Prof. Soyinka at the University 

of Ife, Osun State and today; the two of them 

are some of his most reliable associates. 

He therefore has good words for some people 

whom he considers very understanding of the 

cause and purpose and who have spurred him 

on in public life. 

“I need to thank Prof. Wole Soyinka. I never 

carried anybody’s bag, but I carry his bag because 

he blesses you with brilliance and knowledge. 

He fights on my behalf whether I’m right or 

wrong because he wants to preserve my life. 

“The persons I admire a lot as fathers are 

Chief Bisi Akande and Chief of Staff to former 

President Olusegun Obasanjo, Justice Karibe 

Whyte and Prof. Soyinka. They are among 

the few persons that can tell me to stop. But 

Prof Soyinka and Justice Whyte would not 

stop you when they know what I’m doing 

is right because the first thing to them is that 

my life is protected,” he said. 

Tinubu was the one who described Amaechi 

as “A good example of common sense revolution 

– not a violent one – to tear things down, 

but to rescue us from violence and poverty, 

where the collective well-being of the people 

will be top on the agenda. It is a call to return 

to a level of decency between the governed 

and the leaders. We are here because of one of 

the generals of the common sense revolution.” 

Soyinka said: “I admire Amaechi’s courage of 

conviction. People should put themselves out 

and make sacrifices for the country. The political 

atmosphere in the country today – whatever 

name you call it – I recognise two people who 

are the architects: Tinubu and Amaechi. I urge 

Amaechi not to slow down now, if he slows 

down, it means he is playing with fire.” 

Also describing Amaechi in his own words, 

Cole said: “He totally lacks extravagance. 

He threw all protocol away and made the 

exalted office of the governor opened to all. 

He genuinely cares about the welfare of the 

people – the downtrodden. He was passionate 

about bringing good quality education to the 

state. Everything he did was driven to cater 

for the poor. 

“I have been on negotiation tables with 

him; he squeezes unimaginable profits out of 

every transaction. I have never seen him ask or 

receive 1k from one contractor. There is none 

that I know to be more loyal to a friend than 

Rotimi Amaechi. He tells you exactly how it 

is. He is straightforward and adamant about 

his position. He is very principled and he is 

someone you want on your side when you 

go to battle.” 

Every other person, including father Kukah, 

who did a robust review of the book, bringing 

out some of the flaws and the highpoints, also 

said: “The contributors did what friends should 

do a friend,” by documenting the landmark 

achievements of the governor.

18 

ONTHEWATCH 



How Feasible is Dogara’s Speakership Bid? 

The battle to succeed Aminu Waziri Tambuwal as Speaker of the House of 

Representatives has reached the home-stretch. Ademola Adeyemo however 

examines the chances of Hon Yakubu Dogara in the midst of the intrigues 

and horse-trading 

From Lagos to Abuja, political horsetrading 

has been intensified in the 

last few weeks as persons elected 

to serve as members of the eighth 

session of the National Assembly 

strategies to choose a new leadership 

for the legislative arm of government. 

In the House of Representatives, stakes have 

gone a notch higher considering the fact that 

Nigerians have shown more interest in who 

becomes Speaker than at any other time in 

recent years. This interest is understandable 

bearing in mind the rebellious manner the 

House produced its leadership four years ago. 

Speaker Aminu Waziri Tambuwal and his 

deputy, Emeka Ihedioha, defied the zoning 

arrangement of the Peoples Democratic Party 

(PDP) to emerge leaders of the House. The 

move, kicked against by President Goodluck 

Jonathan and leading members of his party, 

set the stage for what many considered the 

assertion of the independence of the House 

in the four years of their administration. 

With the Tambuwal rebellion in mind, 

Nigerians are now watching with bated breath 

how the new leadership will emerge. Similarly, 

attention has been firmly fixed on the caliber 

of persons aspiring to be the number four 

citizen in the new dispensation. 

Already, no fewer than five lawmakers 

have indicated interest in the bid to succeed 

Tambuwal. Few days ago, a three-term member 

from Bauchi State, Hon Yakubu Dogara, announced 

his bid for the position. His supporters 

have described him as fearless, incorruptible, 

intellectually sound and pro-people. 

Dogara, a Northern Christian representing 

a Muslim majority Bogoro/Dass/Tafawa 

Balewa Federal Constituency in Bauchi State, 

told reporters in Abuja that he was the right 

person for the job. But the question now is: 

on what premise has he based his aspiration? 

The APC victory in the just concluded elections 

may very well be described as a joint effort 

between four out of six geo-political zones: the 

North-West, contributing the highest number 

of votes, followed by the North-East, North 

Central and South-West, in that order. With 

the President-elect from the North-West and 

his deputy from the South-West, Dogara’s 

supporters reckon that in the spirit of equity, 

the other key positions of numbers three and 

four citizens should be filled by people from 

the North-Central and North-East. 

They reckoned that now is the right time 

to allow the North-East, a region that has 

never produced Speaker or Senate President, 

to produce the next Speaker. 

Hon Mukhtar Betara, a member of the House 

from Borno State and Dogara’s supporter, told 

reporters recently that despite being under 

Many are of the opinion 

that the lawyer-turned 

politician has a rich CV 

that can hold on its own 

anywhere. The question 

now is: does he have 

the political dexterity 

to persuade his 359 

colleagues in the House to 

entrust their leadership to 

him? The answer will come 

to the fore in a few weeks 

Dogara…counting on track record 

constant threat from Boko Haram, the people 

of North-East Nigeria defied the threat of 

bombs and other forms of mayhem to vote 

for Mr. Buhari. 

“So a Speaker from the North-East would 

go a long way in reminding Nigerians from 

that troubled region that they have not been 

forgotten and still remain as key stakeholders 

in the Nigerian Project. It would be a way to 

acknowledge their suffering and show appreciation 

for their sacrifice and ultimately, 

serve as a solemn promise that the security 

challenge will be at the forefront of issues,” 

Betara opined. 

Despite the prevalent perception of Northerners 

as a homogenous group by most Nigerians in 

the South, there are dozens of ethnic nationalities 

in Northern Nigeria and Northerners are not 

all Muslims. 

The Muslim/Christian divide in the North 

had previously been a basis for political 

differences but this time around, Northern 

Christians supported the APC and the candidacy 

of Buhari, with large numbers recorded in 

Christian stronghold in states like Plateau, 

Bauchi, Adamawa, Yobe, Borno and Taraba 

among others. 

According to many in the House of Representatives, 

the North-east has the highest 

concentration of minority ethnic groups, with 

some states having average of three tribes 

within each local government. They argued 

that one good way to silence critics of the APC 

and proponents of the Hausa/Fulani “Born 

to Rule” conspiracy is to choose a Speaker 

that will represent the interests of Northern 

Christians while simultaneously representing 

the many ethnic minorities in the North. 

Speaking on Dogara’s aspiration, Hon 

Umar Bago, from Niger State, said if there 

is one lawmaker that can consolidate on the 

achievements recorded by the 7th Assembly 

under the leadership of Tambuwal and make 

the House more efficient and responsive to 

Nigerians’ needs, it is Dogara. 

He added: “Dogara’s sojourn in the House 

has been strongly pro-people. Since 2007 that 

he came to the House, he never wavered in 

his pro-people stand and is today one of the 

most respected lawmakers in the National Assembly. 

Staying true to his legislative aims, 

he sponsored the Corporate Manslaughter 

Bill in 2010 to check negligence in corporate 

organisations, which inadvertently leads to 

loss of lives.” 

Dogara has headed the House Services 

Committee since 2010, and as a plus not one 

scandal has occurred under his watch. He also 

headed the House Committee on Customs and 

Excise, and was said to have turned down a 

bribe of five million dollars offered by some 

special interest seeking to conceal the truth. 

He has also been on the House Committees 

on Judiciary, Capital Markets, Foreign Affairs, 

Rural Development and Power among others. 

He has also sponsored motions against the 

indiscriminate and illegal granting of waivers 

by the federal government. 

Many are of the opinion that the lawyer-turned 

politician has a rich CV that can hold on its 

own anywhere. The question now is: does he 

have the political dexterity to persuade his 

359 colleagues in the House to entrust their 

leadership to him? The answer will come to 

the fore in a few weeks.


UPDATE&TRENDING 

19 


In Enugu, an Era Begins 

For the first time in her political history, the emergence of Hon. Ifeanyi Ugwuanyi 

as the Governor-elect of Enugu State bestows on the state a governor with rich 

background in active national and global politics – antecedents that could translate 

into good governance. Ejiofor Alike reckons 

Deputy Senate President, Senator Ike Ekweremadu and Ugwuanyi in a tête-à-tête 

The recent election of Hon. Ifeanyi 

Ugwuanyi as the incoming governor 

of Enugu State was a demonstration 

of a bold attempt by the people of 

the state to sustain some aspects 

of the legacy of the administration 

of Governor Sullivan Iheanacho Chime in the 

areas of human and infrastructure development. 

Indeed, Chime’s administration impacted 

heavily in the lives of the people of the state 

in the areas of providing physical infrastructure, 

despite the misgivings in some quarters on the 

current political situation in the state. 

But for the current crisis in the State House 

of Assembly, Chime would have left a legacy 

of rancour-free politicking, in addition to his 

track record in the provision of infrastructure. 

Those, who are very familiar with Ifeanyi’s 

antecedents, believe that he is the best choice to 

sustain and possibly surpass Chime’s achievements 

in attracting developmental projects and 

programmes. 

For the first time since its creation, Enugu 

State is set to produce a governor, who has 

the national and global contacts to leapfrog the 

state to enviable heights in the areas of political 

and economic emancipation. 

Though all Ifeanyi’s predecessors, including 

Dr. Okwesilieze Nwodo and Dr. Chimaroke 

Nnamani had gathered much experience in 

their own right (apologies to Prof. Attahiru 

Jega) before they came on board, Ifeanyi has 

broken the record as the first politician with 

an over a decade of unbroken record in active 

national politics to be elected executive governor 

of the state. 

Unlike others before him, Ifeanyi has 12 

years of uninterrupted experience in active 

national politics as a key player in the House 

of Representatives and the Chairman of one of 

the most influential committees that provided 

oversight to a very important segment of the 

Nigerian economy. 

Ifeanyi’s chairmanship of Marine Transport, 

which is an important sector globally, exposed 

him internationally and positioned him for his 

current assignment. His legislative experience 

also includes membership of the House Committees 

on Defence; Population; Privatisation and 

Commercialisation; Science and Technology, as 

well as States and Local Government Affairs. 

He was also Deputy Chairman of the Committee 

on Public Service and Deputy Chairman 

of Committee on Pension. His closeness to two 

different House leaderships under both Hon. 

Dimeji Bankole and Hon. Aminu Tambuwal 

also gave him wide national and international 

exposure in the art of good governance, which 

is unrivalled by his predecessors. 

It is expected that Ifeanyi will use his rich 

wealth of experience, as well as his wide national 

and global contacts to attract unprecedented 

social and economic development to Enugu State. 

In 2000, a group of stakeholders in Udenu Local 

Government Area (LGA), who were saddened 

by the sorry state of the local government, which 

was created by the late General Sani Abacha 

in 1996, had wooed Ifeanyi to come and vie 

for the chairmanship in order to rescue the 

local council area. But Ifeanyi’s close associates 

opposed the stakeholders’ move on the grounds 

that he was too big for such local position and 

also “too clean” to get his body immersed in 

the murky waters of Nigerian politics. 

Indeed, his credibility, integrity, generosity and 

large-heartedness might have accounted for his 

revered position at the prestigious Rotary Club 

International, where he was then addressed as 

‘Rotarian Ifeanyi Ugwuanyi.’ 

His amiable personality and ability to relate 

equally with the poor and the rich, as well as 

the young and old, portray him as a man, who 

believes in a classless society. 

Later in his political life, these sterling qualities 

For the first time since its 

creation, Enugu State is set 

to produce a governor, who 

has the national and global 

contacts to leapfrog the 

state to enviable heights in 

the areas of political and 

economic emancipation 

earned him the name “Gburu-gburu,” which could 

also mean “everywhere” or “all round” because 

as a bridge builder, he is always everywhere and 

accessible at all times to attend to everybody 

on every issue. 

Many had wondered why he would choose 

to abandon his promising business empire to 

vie for the position of Chairman of Udenu 

LGA, with her then zero monthly statutory 

allocations from the Federation Account. In his 

characteristic humility, however he succumbed 

to the pressure and abandoned his flourishing 

business to serve his people. 

The debate on his decision to descend so 

low to vie for the position of chairman in the 

2002 Local Government Elections in Enugu State 

had hardly died down when he was suddenly 

directed by the PDP stakeholders in Enugu State 

to drop his ambition. 

This shocking directive came after he had 

invested huge human and material resources 

for over one year to market his candidature. 

The decision by the PDP to endorse another 

consensus candidate was a litmus test of Ifeanyi’s 

faith in the party. 

It was an unpopular decision among the 

people, who saw him as the only candidate 

with the enormous capacity and goodwill to 

defeat the late Dr. Ignatius Eze (Prince Eze) 

of the opposition All Peoples Party (APP) at 

the election. 

But as a loyal and law-abiding PDP member, 

who believes in party supremacy, Ifeanyi obeyed 

his party’s decision, despite overwhelming 

pressure from his supporters to join another 

political party to realise his ambition. 

As a disciple of modern democracy, where 

personal ambitions are subservient to party 

decisions, desperation for power, which is 

common among the political class, has no place 

in Ifeanyi’s political life. 

He is not an apostle of “I –or-nobody else” 

style of politics played in this dispensation, where 

some politicians, who benefited from their party’s 

endorsements as consensus candidates in the 

past turned their back against this modern form 

of participatory democracy. 

Today, Ifeanyi’s reward for his belief in party 

supremacy and obedience to party decision no 

matter how unpleasant to one’s personal ambition, 

is a good lesson to students of political 

philosophy and today’s politicians in the pursuit 

of their ambitions. 

He not only accepted the decision of his 

party in good faith and withdrew from the 

chairmanship race, but also made invaluable 

contributions to boost the electoral fortunes of 

the anointed candidate, Hon. Chinedu Onu. 

Despite his pedigree, he humbled himself to 

personally campaign for this promising young 

man, who was only yesterday among his key 

supporters. 

His show of magnanimity to the new candidate 

and unalloyed loyalty to the PDP did not go 

unnoticed as a top leader of the party in the 

state (names withheld) was said to have declared 

at a private function that “this man (Ifeanyi) is 

humble and very loyal to the party.” 

With his track record as a tested and trusted 

loyal party man, whose words are his bonds, 

it was not difficult for him to emerge as the 

candidate of PDP in the 2003 elections into the 

House of Representatives. 

His wide acceptability across party lines 

manifested evidently in his victory at the elections, 

where he emerged as the representative of Udenu 

LGA/Igbo Eze North Federal Constituency at 

the lower house. For the past eight years, he 

has been the chairman of the influential House 

Committee on Maritime Transport. 

When Governor Chime came on board in 

2007, Ifeanyi fitted into Chime’s dream of new 

Enugu. As a gesture for his achievements during 

the first outing, he was re-elected in 2007 and 

returned a third time in 2011, in appreciations 

of his contributions to the uplift of the people 

of his constituency. His immediate constituency 

loves him but his election as governor clearly 

demonstrates that the good people of Enugu 

State need him most. 

Ifeanyi’s victory at the recent governorship 

elections is the beginning of an era that will 

usher in a new dawn of enduring legacy of 

unprecedented development of human and 

physical infrastructure in Enugu State. 

Never again will mediocrity, political gangsterism, 

non-performance, banditory, nepotism and 

corruption be promoted to an art in Enugu State.

20 

FEATURES 

WEDNESDAY, MAY 20, 2015 • THISDAY 

Features Editor Adeola Akinremi 

Email adeola.akinremi@thisdaylive.com 

Building Cross River’s Silicon Valley 

The new Institute of Technology and Management in Cross River State 

may become a hub for high-tech innovation and development that will 

transform the outlook of its host community and the rest of the country, 

writes Hopewell Ukpebor 

Institute of Management Technology, Ugep, Cross River State 

Ugep, a community in Cross River 

State may not be on the global 

map yet, just the same way it 

took time for the the southern 

part of the San Francisco Bay 

Area in the United States to 

move from its agriculture-related and food 

production companies to high concentration 

of high-tech companies. But Ugep is well 

on its way to becoming Nigeria’s Silicon 

Valley. The siting of Institute of Technology 

and Management (ITM) is raising that hope 

more than anything else. 

For instance, the rise of Silicon Valley had 

much to do with the Stanford University. 

Those who graduated from the university, 

its affiliates and workers played a major role 

in the development of the area. 

So exactly five years ago, when Cross River 

State Governor, Senator Liyel Imoke, acceded 

to a request by the immediate past monarch 

of Ugep, Obol Lopol of Ugep and Paramount 

Ruler of Yakurr, Late Obol Ujong Inah, for 

the construction of a tertiary institution in the 

area, he had his mind on creating Nigeria’s 

Silicon Valley. 

So with a passionate plea made to the 

governor by the late monarch, Governor 

Imoke graciously granted the establishment 

of Institute of Technology and Management 

(ITM), Ugep, a first-class institution, not only 

modelled after the prestigious Highbury College, 

United Kingdom, but equally affiliated to the 

upscale institution. 

And sometime last year, when the ITM 

was commissioned and officially opened for 

academic activities, the octogenarian monarch, 

elated that Imoke gave him what he ultimately 

asked for, declared: “I can now go and join 

my ancestors.” And in March this year, he 

breathed his last, having had his wish fulfilled. 

Classified as the most populated indigenous 

community in West Africa, Ugep had for so 

long been without any tertiary institution, let 

alone an iconic one like the ITM. Worried 

by this challenge, Governor Imoke, in his 

ever burning desire to boost human capacity, 

In going into partnership 

with Highbury College, 

the governor considered 

international rating of 

UK-based institution as 

a grade one outstanding 

college in the UK and the 

need to develop a worldclass 

entrepreneurial 

technology institute in 

Nigeria 

ensured that it was not just enough to establish 

a higher institution of learning in Ugep, but 

a world-class entrepreneurial institute, the 

first of its kind in Nigeria. 

In going into partnership with Highbury 

College, the governor considered international 

rating of UK-based institution as a grade 

one outstanding college in the UK and the 

need to develop a world-class entrepreneurial 

technology institute in Nigeria. 

In terms of vision, mission and core values, 

ITM, a technical, vocational, educational and 

training (TVET) institute, shares the same 

ideals virtually with Highbury College. 

Speaking on the ideals of the institution, the 

Rector, Dr. Williams Pedley said: “Our goal 

is to develop a world-class entrepreneurial 

Institute, the first of its kind in Nigeria. The 

Institute will provide students a unique opportunity 

to be taught in a learning environment 

with state of the art facilities that represent 

international best practices in the educational 

industry. The school currently offers full time 

Ordinary National Diploma Programs and 

will in no distant time offer full courses in 

Higher National Diploma.” 

Furthermore, as an incentive to students 

studying at ITM, he disclosed: “We provide an 

opportunity for successful students to progress 

to higher level programmes at Highbury 

College, Portsmouth, United Kingdom. 

The Institution has well-seasoned lecturers 

from the United Kingdom and Nigeria. With 

their wealth of experience, they are duty 

bound to provide high quality teaching and 

learning opportunities that meet the needs of 

individual students and groups in line with 

its strategic goals.” 

The school which currently runs courses in 

Computing, Business Management, Entrepreneurship, 

Leisure and Tourism Management 

is preparing its pioneer students for their 

second semester examination. 

Expressing her joy at her enlisting at 

ITM, Joy Eko, studying computing said: 

“My experience has been very wonderful 

and awesome, I must say. I am completely 

transformed both in character and learning. 

I now speak as an entrepreneur, reason like 

an innovator and most importantly, work 

and express myself freely at any gathering 

as guided by our code of conduct. One good 

thing about this school is that we live as a 

family. The school administrator, our teachers 

and even my colleagues interact freely and 

I really enjoy this aspect. Anyone who is 

not here is missing because not only do we 

have capable hands to teach, we also have 

world-class facilities to aid the whole process 

of learning.” 

One of the cardinal principles of the school 

which is pioneering innovative approaches to 

education and training is already manifesting, 

judging from testimonies from the students 

during their respective interactive classes. 

For Miss Abodunrin Seun, an ND 1 student

21 

FEATURES 

Students listen during a class 

Tech schools are changing the rhythm 

in Computing: “You must wonder why I came 

all the way from Lagos to Ugep. I have visited 

so many schools round the country and I can 

tell you what they offer, but my experience 

here has given me a different assessment of 

other schools. For me, others are like glorified 

secondary schools. This school has brought 

out so many things in me. I will not be far 

from the truth if I say that ITM is first IT 

supported learning environment in Nigeria 

today. Here, we are taught how to be self-made 

and I do not regret my coming here.” 

The story is not different with Mr. Richard 

Etim, who is studying Leisure and Tourism 

in the institution. For him ITM is the best 

thing that has ever happened to him, even 

as he calls on other youth to join him. “ITM 

is a world -class institute and it is known 

for its uniqueness in Cross River State and 

in the UK. In ITM, you are taught among 

other things, to be a critical thinker, exposed 

to problem solving, time management skill 

which is critical for a successful business, 

team work skills and applying the lessons 

to real life situations. So if you have a child 

and you believe in them and want them to 

get the best in life and qualitative education 

that is entrepreneurial-based, then ITM should 

be your next stop.” 

As expected, take off of the school has come 

with its attendant socio-economic spin offs. 

Already, the locals are taking advantage of 

the opportunities that the presence of ITM 

provides in their community to set up tech 

businesses and construction of buildings for 

commercial and private use. 

Not to be left out of the imminent boom, 

most traders in Abakiliki, in neighbouring 

state of Ebonyi are beginning to relocate their 

businesses to Ugep. 

According to Mr. Tony Otuokoro, from 

Ebonyi State, who runs a provision store, 

“The establishment of this school has really 

brought a very big change to this environment. 

If you look around, you will notice it 

is a new site. People have started building 

around here. Even though the population 

is not much, business life has started and 

more people have approached me to secure 

Already, the locals are 

taking advantage of the 

opportunities that the 

presence of ITM provides 

in their community to set 

up tech businesses and 

construction of buildings 

for commercial and private 

use 

spaces for them, which are now becoming 

expensive.” 

Monday Ichie, who runs a cyber cafe, one 

of the businesses in the institution, spoke of 

his joy at the establishment of the institution. 

The Rector of the institution, William Pedley 

said apart from the world-class curriculum 

adopted for the school, to achieve the main 

goal of ensuring that between 90 and 100 

percent of its graduates are gainfully employed 

upon graduation, he will not relent, given 

the progress already made and the kind of 

response gotten from their staff. 

“I’m confident that we will get there. 

Our intension is to be international leader 

in vocational education and we are confident 

that with the foundation we have laid, we 

are not far from achieving that.” 

He further hinted: Harnessing the sporting 

potentials of the students must be equally taken 

into consideration alongside the academic 

activities which is why I am introducing the 

American Rugby in the school soon along 

other sporting events already captured.” 

Stressing on the focus and desirability of 

the school, Pedley explained that “from the 

research carried out particularly in Cross River, 

it was clear that what the local and national 

economy need are entrepreneurial students and 

business persons with requisite skills to man 

their companies. Many instances in Nigeria 

show that a lot of industries are in their 

infancy trying to build their bases without 

manpower, that was why we decided to take 

advantage of this vacuum to train young minds 

who will be potential managers of these firms. 

We have observed critically so that not many 

persons have realised that entrepreneurship 

is the key to economic development hence, 

our main focus.” 

Continuing, he said: “Highbury was 

selected from a rigorous process by the 

state government. That was after assessment 

by the government that Highbury College 

matched the requirement of the state after 

proper examination of our track records in 

entrepreneurship development in the UK and 

outside the UK. So we were contracted to keep 

the institution up and running for five years 

and thereafter hand it over to an indigenous 

Nigerian management which we have already 

started training in line with current realities 

and according to our standards. 

“Here in Cross River State, there has been 

a great welcome, and fantastic support. The 

academic institutions we came across have 

been very supportive and we have recruited 

young and energetic Nigerians who have come 

to realise that truly, this is the right place to 

be and they are doing their work effectively 

as expected. From the state government, I 

will affirm that so far, the support has been 

firm and constant and that has kept us up 

and running.”


IMAGES 

Photo Editor Abiodun Ajala 

Email abiodun.ajala@thisdaylive.com 

L-R: President, Offa Descendants Union, Alhaji Najeem Yasin; Secretary to the State Government, Alhaji Isiaka 

Gold; Kwara State Governor, Alhaji Abdulfatah Ahmed; and Chairman, Offa Local Government, Prince Waheed 

Olanipekun, during the governor’s inspection to Owode market, Offa gutted by fire...recently 

Chairman, Nigeria Union of Journalists (NUJ), Lagos State Council, Mr. Deji Elumoye ( left ), and Lagos State 

Governor, Mr. Babatunde Fashola (SAN), during a courtesy visit by Lagos Council of NUJ to the governor in 

Lagos...recently 

L-R: Speaker, Abia State House of Assembly, Hon Ude Okochukwu; wife of the Governor-elect, Mrs Nkechi Ikpeazu; 

her husband, Dr. Okezie lkpeazu; Abia State Governor Theodore Orji; and his wife, Mercy, during the valedictory 

thanksgiving service at the new Int’l Conference Centre in Umuahia...recently 

L-R; Chairman, Omenka Foundation, Chief Uche Onwude; Senator Chris Nwabueze Ngige; and Chief Uzoma 

Igbonwa during their arrival in Lagos...recently 

L-R: Brand Ambassador Omo, Funke Akindele; Brand Building Director, Unilever Nigeria, Mr. David Okeme; Brand 

Ambassador Omo, Chioma Akpotha; winner of N1 million from Army Children School, Abule Egba, Lagos, Imurang Salisu; 

and Brand Ambassador Omo, Ali Nuhu, during the Omo Imagine and Achieve competition grand finale in Lagos...recently 

L-R: Permanent Secretary, Ministry of Agriculture, Ogun State, Mr. Lanre Bisiriyu; Ogun State Commissioner 

for Agriculture, Mrs. Ronke Shokefun; a beneficiary, Mrs. Elizabeth Oyelude; and GM, British American Tobacco 

Nigeria Foundation (BATNF), Ms. Abimbola Okoya, during the presentation of poultry production training 

certificates to women poultry farmers in Abeokuta, Ogun State...recently 

L-R: Executive Director, SystemSpecs, Deremi Atanda; Brand Ambassador, Remita Corporate Champions 

Cup and former Super Eagles goalkeeper, Peter Rufai; and Managing Director/CEO, SystemSpecs, John 

Obaro, at the Season 2 of Remita Corporate Champions Cup in Lagos...recently 

etop ukutt 

L-R: National Retail artiste, House of Tara, Rhema Akabuogu; ace photographer and L’Original judge, Kelechi 

Amadi Obi; L’Original judge, Kunbi Oyelese; Senior Brand Manager, Fayrouz, Nnenna Ifebigh-Hemeson; and 

designer, Mai Atafo, at the Fayrouz L’Original 2 auditions in Ibadan, Oyo State...recently


23 

BUSINESSWORLD 

R A T E S A S A T M A Y 1 5 , 2 0 1 5 

NIBOR NITTY EXCHANGE RATE 

OVERNIGHT 9.2917 3-MONTH 14.4157 1-MONTH 10.5889 6-MONTH 12.5641 N197.00 US DOLLAR* 

1-MONTH 13.1585 6-MONTH 15.7848 2-MONTH 10.8806 9-MONTH 14. 7648 *AS AT LAST FRIDAY 

3-MONTH 10.9226 12-MONTH 14.9792 

Quick Takes 

FOR ECONOMIC DIVERSIFICATION 

L-R: Executive Secretary, National Sugar Development Council, Dr. Abdul-Latif Busari; Minister of Industry, Trade and Investment, 

Mr. Olusegun Aganga; and Vice-Chancellor, Ahmadu Bello University, Zaria, Prof. Ibrahim Garba, during the inauguration of Nigeria’s 

first Sugarcane Bio-factory in Zaria, Kaduna State ...recently 

New Task for SEC as Unclaimed 

Dividends Rise to N55 Billion 

Goddy Egene 

The Securities and Exchange 

Commission (SEC) needs to 

move faster in the implementation 

of strategies to reduce 

unclaimed dividends in the 

nation’s capital market, as the 

amount of unclaimed dividends 

rose by 8.5 per cent in 2014. 

THISDAY checks revealed that 

unclaimed dividends returns 

filed by 112 companies as at 

December 2014 showed a figure 

of N55.22 billion, up from the 

N50.9 billion in 2014. 

This was contrary to a reduction 

witnessed in 2013. 

The issue of unclaimed 

dividends has been a thorny 

one in the market over the 

years with stakeholders 

Federal Government’s Domestic Debt 

Rises by N610bn 

Eromosele Abiodun 

The quarterly data released by 

the Debt Management Office 

(DMO) has revealed that the 

Federal Government of Nigeria’s 

(FGN’s) domestic debt as at 

ending of March 2015 stood 

at N8.51trillion ($42.8 billion), 

an equivalent of 9.4 per cent 

2014 gross domestic products 

(GDP). 

The increase in naira terms 

in the first quarter was N610 

billion, of which FGN bonds 

accounted for N580 billion. 

The DMO data also showed 

CAPITAL MARKET 

trading blames. SEC had to 

introduce electronic-dividend 

that facilitates direct payment 

of dividends into shareholders’ 

bank accounts instead through 

dividend warrants. However, 

many shareholders are yet to 

embrace e-dividends, a development 

that has made unclaimed 

dividends to remain high. 

The Director General of 

SEC, Mr. Mounir Gwarzo, last 

February called on Registrars to 

ensure 100 per cent compliance 

on e-dividend as one of the 

ways of reducing unclaimed 

dividends. He also charged 

them to ensure efficient service 

delivery, and total support for 

ECONOMY 

that Nigeria’s total debt stock 

(addition of external and 

domestic debt) as at March 

2015 stood at N12.06 trillion, 

representing an increase of 11.95 

per cent from the December 31, 

2014 figure of N11.24 trillion. 

A breakdown of the debt 

stock showed that external 

debt accounted for 15.46 per 

cent of the total debt stock at 

N1.86 trillion ($9.46 billion at 

an average exchange rate of 

$1/N197), while domestic debt 

stock accounted for 84.54 per 

dematerialisation. 

Besides the call, SEC had 

given a directive that unclaimed 

dividends be returned to 

companies after 15 months 

of declaration. 

Gwarzo said the directive 

was in compliance with the 

existing law on dividend 

declaration, had also urged 

Company Secretaries and Legal 

Advisers of Manufacturing Companies, 

to be in the vanguard 

of supporting the directive to 

Registrars to return unclaimed 

dividends to the companies after 

the stipulated period, insisting 

that there is no reason why 

Registrars should keep the 

unclaimed dividends beyond 

the period stipulated by law. 

He said the companies should 

cent of the total debt stock at 

N10.20 trillion ($1/N188.70 

billion). The debt-to-GDP for 

2014 stood at 12.47 per cent. 

Analysts at FSDH Research 

estimate a debt-to-GDP ratio 

of 12.89 per cent to end year 

2015. 

This, they stated, means that 

Nigeria’s debt portfolio still 

has wide fiscal sustainability 

space; “as the debt-to-GDP ratio 

is below the applicable critical 

limit of 40 per cent set for the 

economy by the government.” 

On their part, analysts at FBN 

Capital posited that the ratio 

be in the vanguard of supporting 

the position of the law 

on dividend return, insisting 

that SEC is interested in the 

movement of the funds from 

the Registrars to the companies 

According to him, the Commission 

would soon embark on 

massive a public enlightenment 

programme to educate the 

public at the grass root so as 

to ensure that they get the full 

benefits of their investment. 

He said the public enlightenment 

will not be limited to 

dividend payment alone, but 

will include other recent issues 

in the market, like dematerialisation, 

straight through processing 

and Complaints Management 


for federal domestic debt was 

transformed by the rebasing of 

the national accounts published 

by the National Bureau of 

Statistics (NBS) in April 2014. 

The analysts however stressed 

that FGN’s domestic debt stock 

is still manageable. 

According to them, “These 

are the sovereign obligations 

of the FGN, and therefore 

exclude the obligations of 

AMCON (now solely held 

by the CBN), the NNPC and 

other public agencies, and the 


Elumelu Speaks on Power, Africapitalism 

Following his advocacy for entrepreneur led development for 

Africa at the White House and Georgetown University, African 

business leader and philanthropist, Tony Elumelu spoke on African 

energy issues at the Sustainable Energy For All (SE4ALL) Global 

Advisory board meeting in New York, yesterday. The event was 

co-chaired by the UN Secretary General Ban Ki-moon and the 

World Bank President, Jim Yong Kim. 

Elumelu, the Chairman of the United Bank for Africa and the 

Founder of the Tony Elumelu Foundation, is on the Advisory Board 

of SE4ALL along with global leaders such as US Secretary of 

State John Kerry, and the Directors General of the UNDP and 

UNIDO. The initiative brings together leaders from all sectors 

of society to collaborate to help increase energy access and 

build a more prosperous and safer world. 

Following the energy meetings, Elumelu is in Paris, France at 

the invitation of French Foreign Minister Laurent Fabius today 

take part in a global business dialogue focused on influencing 

the agenda for the 2015 Conference of the Parties (COP 21), the 

leading annual negotiating summit on climate issues. 

Elumelu, the only business leader invited from West Africa, has 

been invited along with an exclusive group of 40 Global Business 

leaders, including: the Executive Chairman of Alibaba Group, Jack 

Ma, CEO of Apple, Tim Cook, and the CEO of Tesla,Elon Musk. 

Also, Elumelu will on Friday deliver the closing keynote address 

on the topic “Africapitaliam as a Catalyst for the Development of 

Africa” at Oxford University courtesy of the Oxford Africa Society. 

Goldman Sees Oil at $50 

As oil prices fell from more than $100 a barrel to a low of $43.46 

over the past year, analysts and economists constantly tried 

to pick a bottom and had little success. Now, they are trying to 

forecast a recovery, but Goldman Sachs has predicted oil will 

stay at lower levels for the rest of the decade. 

“We see potential for OPEC/the US to gain share longer term, 

even as WTI falls from $60 to $50 by the end of the decade,” 

Bloomberg reported. 

They forecast that companies are poised to do well in an environment 

with lower oil prices. Other market analysts have made 

predictions for oil to move at least slightly higher over the longer 

term, as they forecast that non-OPEC related supply will start to 

shrink. Goldman, on the other hand, reckons that the shale boom 

will continue even as OPEC refuses to cut back on production. 

Goldman analysts led by Brian Singer stated: “While the sharp 

reduction in US drilling activity is likely unsustainable, greater 

productivity in shale, start-ups of already sanctioned other 

non-OPEC projects and a greater willingness of OPEC to keep 

production levels elevated create a confluence of deflationary 

pressures for both oil and North American natural gas prices.” 

IITA, AfDB Target Rice Cultivation in Nigeria 

The International Institute of Tropical Agriculture (IITA) and the 

Africa Development Bank (AfDB) are on the verge of increasing 

rice production in Nigeria and striking its name away from the 

list of countries that import huge amount of rice. 

Both organisations are aiming to achieve their goal through a 

project, Support to Agricultural Research for Development of 

Strategic Crops in Africa, instituted to help boost production 

of cassava, maize, rice and wheat in African countries. 

After a stakeholder consultation workshop hosted by the institute 

in Ibadan, the Coordinator of the project, Dr. Chrys Akem, said 

Nigeria would benefit hugely from the programme in the area 

of massive rice cultivation and exportation, owing to the vast 

agricultural potential it possessed and the Federal Government’s 

willingness to develop its agriculture base. 

According to him, “The major objective is to ensure food and 

nutritional security. Another aim is to raise the income level of 

the farmers so as to better their livelihood. At inception in 2013, 

our modest goal was to attain 20 per cent yield increase in each 

of the communities we are working.” 

The decision to amend 

our national definition 

of unemployment is 

not something we take 

lightly at the NBS 

DG, National Bureau of 

Statistics, 

Yemi Kale

24 

BUSINESSWORLD 


NEWS 

NEW TASK FOR SEC AS 

UNCLAIMED DIVIDENDS 

RISE TO N55 BILLION 

Framework. 

However, the President of 

the Institute of Capital Market 

Registrars (ICMR), Mr. Bayo 

Olugbemi, during a visit to SEC 

last February, said while the 

registrars were making their 

own efforts to reduce the 

unclaimed dividends, there 

were some factors affecting 

the operations. 

He cited poor income 

from their activities in the 

market and non-passage of the 

institute’s bill among others 

as some of the factors. 

“We are in support of 

reduction of fees in the capital 

market but what we earn is just 

too small and not a reflection 

of services we render and 

the bill for the institute to be 

chartered has not been passed” 

Olugbemi said. 

FEDERAL 

GOVERNMENT’S 

DOMESTIC DEBT RISES 

TO N610BN 

state governments. We estimate 

the latter at N2.85trn (bonds 

and loans combined) and the 

burden for the widest measure 

of public debt at 25 per cent 

of 2014 GDP. 

“This is the worst possible 

scenario and assumes, for 

example, that AMCON achieves 

no more recoveries. The first 

quarter increase is generally 

the highest of the year due 

to the usual fiscal impasse 

between the FGN and the 

National Assembly. This year 

the front-loading of issuance 

has been compounded by the 

slide in the oil price and the 

election campaign.” 

They added: “The new 

administration may develop 

a new borrowing strategy with 

different ideas as to ceilings 

and the appropriate domestic/ 

external mix. An alternative 

way to view the public debt 

stock is as a proportion of that 

part of the economy which 

generates the revenue to service 

it. We would then have a debt 

stock/formal sector GDP ratio 

and welcome estimates of this 

measure.” 

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) 

Currency-in-circulation Rises to 

N1.818trn in March 

Obinna Chima 

The total amount of currencyin-circulation 

in the country 

increased year-on-year to 

N1.818 trillion at the end of 

March 2015, compared with 

the N1.623 trillion it was as 

at the end of February, 2015. 

The Central Bank of Nigeria 

(CBN) disclosed this in its 

latest money and credit 

statistics for March 2015. 

The data also showed that 

broad money (M2), which 

generally is made up of demand 

deposits at commercial 

banks and monies held in 

easily accessible accounts 

rose sharply year-on-year 

from N16.546 trillion at the 

end of February, to N19.142 

trillion. 

Similarly, narrow money 

(M1), which includes all 

physical monies such as 

coins and currency along with 

demand deposits and other 

assets held by the central bank 

also increased year-on-year 

from N6.047 trillion in the 

previous month, to N6.994 

trillion in March. 

Also, banks’ reserves 

edged higher to N4.119 

trillion in the month under 

review, from N4.079 trillion 

the previous month, just as 

demand deposits, which are 

funds held in an account from 

which deposited funds can 

be withdrawn at any time 

without any advance notice 

to the depository institution 

jumped to N5.223 trillion in 

March, compared with the 

N4.813 trillion it was in 

February. But credit to private 

sector reduced slightly yearon-year 

to N18.579 trillion in 

the month under review, as 

against the N18.639 trillion 

FTSE, Stanbic IBTC Develop Nigeria 

Pension Fund Benchmark 

Goddy Egene 

FTSE Group, the global index 

provider, in collaboration with 

Stanbic IBTC Pension Managers 

Limited, has developed the 

FTSE Nigeria Investable Pension 

Fund (IPF) Benchmark. The 

new index is the first of its kind 

in the region, encapsulating 

Nigerian listed companies 

while adhering to National 

Pension Commission (PenCom) 

regulation on investment, 

safeguarding good corporate 

governance for users. 

The index, according FTSE, 

has been created as a replicable 

index as well as a performance 

benchmark. 

The index methodology 

has been designed to adhere 

to PenCom’s regulation on 

investment of pension fund 

assets, ensuring that a 

strong emphasis is placed on 

governance and best practice. 

The Benchmark constituents 

comprised FTSE Frontier Index 

Series companies listed on the 

Nigerian Stock Exchange, which 

are then screened for taxable 

profits, dividend, free float, 

sector and individual stock 

weighting. 

Commenting on the index, 

Managing Director, Research 

& Analytics, FTSE, Jonathan 

Cooper said: “As FTSE’s global 

presence continues to expand, 

we are pleased to launch this 

new innovative benchmark featuring 

companies from Africa’s 

largest economy. Corporate 

governance plays a vital role 

in all equity markets and is 

integral to investor confidence, 

leading to significant demand 

for benchmarks of this nature. 

This is reflected in Stanbic 

IBTC Pension Managers’ support 

during its development 

and immediate adoption on 

completion. We look forward 

to developing more indices for 

this exciting market.” 

In his comment, Chief Executive 

Officer, Stanbic IBTC Pension 

Managers Limited, Demola 

Sogunle said “Stanbic IBTC is 

committed to the growth and 

development of the financial 

market. This commitment is 

part of the reason why we are 

very excited to be part of this 

welcome development. The 

IPF is necessary for measurement 

of the performance of 

it attained in February. 

Also, quasi money, which 

is made up of highly liquid 

assets that can easily be 

converted to cash increased 

from N10.499 trillion in February, 

up to N12.148 trillion in 

March, while currency outside 

banks stood at N1.471 trillion 

in March, from N1.233 trillion 

the previous month. 

Growth in key monetary aggregate 

had further decelerated 

at the end of February 2015. 

Available data had indicated 

that interest rates generally 

rose in February, while 

all other deposit rates of 

various maturities had risen 

from a range of 3.57–10.79 

per cent. 

The average prime lending 

and maximum lending rates 

trended upward in February 

as the spread between the 

weighted average term deposit 

and maximum lending rates 

declined by 0.23 percentage 

point to 17.08 percentage 

points at the end of February 

2015. 

The Managing Director/ 

the equity portion of Pension 

Funds. It fulfils that need to 

have an index that is investable, 

transparent and independent. 

We believe that it will encourage 

more participation in the 

market as investors would 

be able to track companies 

that pension funds typically 

invest in.” Also commenting 

on the development,mDirector 

General, PenCom, Chinelo 

Anohu-Amazu, said the 

commission is delighted with 

this commendable initiative by 

FTSE, as it would provide a 

good benchmark for Nigerian 

Pension Fund Administrators 

(PFAs) and PenCom, to better 

assess and monitor the performance 

of the equities portfolio 

of individual pension funds.” 

FTSE announced the launch 

of the FTSE Frontier Markets 

Index Series in September 2014. 

The benchmarks covers 26 

countries defined as Frontier 

by FTSE’s Country Classification 

process, and captures the 

performance of large, mid and 

small cap equity securities from 

eligible markets. There are 39 

Nigerian companies currently 

included in the index. 

Chief Executive Officer, Cowry 

Asset Management Limited, 

Mr. Johnson Chukwu argued 

that the priority of the country’s 

policy makers is to grow 

the economy, then interest rate 

should be reduced. 

“Given the depth of investable 

instruments, rates would 

come down and economic activities 

would pick up because 

companies and individuals 

need funding to engage 

in economic activities. But 

because the cost of funds is 

so high, a lot of people cannot 

Adibe Emenyonu 

in Benin City 

With an estimated population 

of 179 million people, 65 per 

cent of Nigerians still lack 

access to any form of banking 

facility or service, the Controller, 

Benin zonal office of 

the Nigeria Deposit Insurance 

corporation (NDIC), Mr. Sunday 

Oluyemi has said. 

Besides, the active rural poor 

people, constitute the bulk of 

the percentage like the low 

income earners arising from 

irregular income, distance 

to bank branches and the 

unemployed. 

Oluyemi disclosed this 

on Monday at the National 

Youth Service Corpse (NYSC) 

`Batch A’ 2015 orientation camp 

held in Ovia North East Local 

Government Area of Edo state. 

Oluyemi who relied on 

`Enhancing Financial innovation 

and Access (EFInA), a United 

kingdom (UK) funded Research 

Agency, however warned the 

NYSC members to be weary 

of ‘Wonder Banks’ agents 

who may verbally offer them 

unrealistic interest rates to 

borrow to engage in economic 

activities. “We are aware that 

this would lead to some level 

of inflation, which was why 

I said managing an economy 

is a balancing act. So, we may 

need to accept that increased 

level of inflation as a cost of 

stimulating economic growth. 

If you look at a country like 

Brazil, at the height of their 

hyperinflation, the inflation 

rate was more than 1,000 

per cent, but they were also 

growing the economy,” he 

added. 

PROMOTING TRADE 

President, Lagos Chamber of Commerce and Industry, Alhaji Remi Bello; Ambassador Extraordinary and Plenipotentiary of the 

Democratic Republic of Ethiopia to Nigeria, Mrs. Samia Zekaria Gutu, during her courtesy visit to the Chamber in Lagos...recently 

NDIC: 65% of Nigerians 

Lack Access to Banking 

defraud them. 

“About 65 per cent, mainly 

people in rural areas and people 

with low income do not have 

access to banking. But I want 

to sound this note of warning 

here. Even if they come to you, 

don’t fall into their mouth-watery 

offer. I fell into such trap in the 

past. Don’t patronise wonder 

banks”, he declared. 

The NDIC state Controller 

who dwelled on the topic 

“Deposit Insurance System in 

Nigeria’’, told the inductees 

to imbibe the habit of savings 

and urged the public to resist 

the temptation of given their 

personal bank details via the 

internet so as not to fall prey 

to internet fraudsters. 

He said only banks that have 

been insured by NDIC and 

the Central Bank of Nigeria 

(CBN) are statute-bound to 

provide financial safety nets 

to protect depositors money 

in the unlikely event of bank 

distress or liquidation. 

Also speaking at the event, 

Mrs. Mafoluwafo Williams, 

Assistant Director, NYSC, 

described the lecture as timely 

and sued for its sustenance.


BUSINESSWORLD 

25 

EQUITIES WATCH 

Wema Bank Shows Resilience at 70 

After 70 years, the only surviving indigenous bank, Wema Bank Plc, remains 

competitive, rendering satisfactory services and reporting improved results, writes 

Goddy Egene 

Wema Bank is regarded as the 

only surviving indigenous 

bank. The bank is celebrating 

its 70th anniversary. 

Wema Bank has, over the 

years, survived several 

restructuring and challenges in the financial 

sector. Even when some banks went under and 

others got swallowed up during the 2005 banking 

consolidation, Wema Bank survived. Today the 

bank continues to survive in the competitive 

banking environment and is putting in place 

strategies to perform better in the years after 

operating for 70 years. 

Corporate History 

Widely reputed as the longest surviving and 

most resilient indigenous Nigerian bank, Wema 

Bank Plc was Incorporated in 1945 as a Private 

Limited Liability Company (under the old name 

of Agbomagbe Bank Limited). It commenced 

banking operations in Nigeria the same year 

and later transformed into a Public Limited 

Company (PLC) in April 1987 and was listed 

on the floor of the Nigerian Stock Exchange 

(NSE) in January 1990. On February 5, 2001, 

Wema Bank Plc was granted a universal banking 

licence by the Central Bank of Nigeria (CBN), 

thus allowing the bank provide the Nigerian 

public with diverse financial and business 

advisory services. 

But in 2009, Wema Bank underwent a strategic 

repositioning exercise spearheaded by a new 

management team that has seen its profile rise 

considerably, which finally culminated into its 

taking a sound strategic decision to operate as 

a commercial bank with regional scope in 

South-South, South-West, Lagos and Abuja in 

2011. 

Wema Bank board is led by Mr. Adeyinka 

Asekun as the chairman while Segun Oloketuyi 

is the Managing Director/CEO. Nurudeen 

Adegbenro is executive director, South-West 

Bank; Ademola Adebise, executive director 

(Lagos and South-South Bank) and Moruf 

Oseni, Abuja Bank. 

Other non-executive directors of the bank 

include: Wole Akinleye, Abubakar Lawal,Folake 

Sanu, Adebode Adefioye, Samuel Durojaiye, 

Samuel Durojaiye, Tina Vukor-Qaushie, Babatunde 

Kasali and Abolanle Matel-Okoh. 

Financial Performance 

Like most banks, Wema Bank Plc posted 

impressive performance for the year ended 

December 31, 2014. The bank reported a 58.8 

per cent growth in its profit before tax for the 

year. The bank also grew its total asset grew 

by 15.6 per cent in the year under review. The 

bank’s profit before tax climbed from N1.9 billion 

in 2013 to N3.09 billion in 2014. 

It total assets also climbed by 16 per cent to 

N382.6 billion, compared with N330.9 recorded 

the corresponding year. Also, gross loans and 

advances to customers jumped by 51 per cent 

to N149.3 billion in 2014, up from N98.6 billion 

recorded in December 2013. Similarly, its customer 

deposits at the end of 2014, was up by 19 per 

cent to N258.9 billion, while net interest income 

stool at N18.5 billion. 

The bank said it recorded a 19 per cent growth 

in customer deposit volumes largely from its 

commercial and retail segments of the market in 

spite of the tightened liquidity regime exacerbated 

by the hike in cash reserve requirement. 

Commenting on the results, Oloketuyi said: 

“It gives me great pleasure to report that Wema 

Bank continues to record year-on-year improvement 

in its financial performance. The bank 

has improved significantly on its profitability 

and customer base despite shrinking margins 

and intense competition. The progress recorded 

is a result of the continued execution of our 

three-year growth strategy.” 

According to him, loans and advances to 

customers increased by 51 per cent guided by 

a strong risk management structure, which is 

evidenced by the level of non-performing loans 

at 2.49 per cent. 

Oloketuyi 

“Wema Bank has become a stronger, more efficient, 

resilient and customer-focused organisation 

with a robust risk and governance structure. 

The bank has realigned its business focus to 

concentrate on its key area of strength – retail 

banking. 

“We have used technology to our advantage, 

deploying in-branch solutions, mobile and internet 

applications and other social media tools to 

drive customer patronage and to reduce our 

cost to serve. We have continued to contain 

our operating expenses despite the increased 

inflationary environment while at the same 

time there was significant improvement in 

our fee-based income lines. 

“As we turn 70 as the premier indigenous 

bank in Nigeria, we are glad to unveil a “NEW” 

Wema Bank that responds faster and better to 

customers’ needs whilst adapting more quickly 

to the ever-changing dynamics of the industry,” 

it added. 

According to the statement, the differentiating 

factor in what it described as the new Wema 

Bank is its agility “in responding to our constantly 

changing business environment; our firm 

commitment to being the bank of choice; our 

relentless determination to continue to raise the 

400 

350 

300 

250 

200 

150 

100 

50 

5 

4 

3 

2 

1 

0 

FINANCIAL HIGHLIGHTS 

DEC. 

2014 

N3.1bn 

DEC. 

2013 

N1.9bn 

PROFIT BEFORE 

TAX 

DEC. 

2014 

N2.4bn DEC. 

2013 

N1.59bn 

PROFIT AFTER 

TAX 

standards of customer service; whilst ensuring 

that we consistently deliver superior returns 

to all stakeholders. 

“We are focused on stepping further to 

becoming one of the most efficient mid-tier 

banks in Nigeria in no distant future. We are 

confident that we will sustain the momentum 

and improve on our profitability and volume 

growth in 2015.” 

Turning 70 years 

Although the bank is 70 years this year, 

Oloketuyi said they believe and act like a 

young, contemporary and vibrant organisation. 

“Managing any institution irrespective of its 

age requires a deliberate and conscious effort in 

building organisational capability, best-in-class 

structures, processes and controls. For Wema 

Bank specifically, yes we are 70 in age, but we 

believe and act like a young, contemporary 

and vibrant organisation. We have spent a 

significant amount of time in discarding old 

processes and techniques and make sure we 

adopt global best practices. We focus a lot on 

talent and skills development, we ensure we 

improve in our service delivery and customer 

experience. For us, every day is a new learning 

DEC. 

2014 

N149bn DEC. 

2013 

N98.6bn 

LOANS AND 

ADVANCES 

DEC. 

2014 

N258bn DEC. 

2013 

N217.7bn 

CUSTOMER 

DEPOSITS 

DEC. 

2014 

N382bn 

DEC. 

2013 

N331bn 

TOTAL ASSETS 

experience; we aim to improve and get better 

every day. It’s been tough, yet rewarding and 

we are glad that the hard work over the years 

is yielding positive results,” he said. 

Unveiling New Brand 

As part of activities to celebrate the 70th 

anniversary, Wema Bank unveiled its new logo 

and brand identity. According to the bank, the 

identity is continuation of the strides the bank 

has made in the past three years to revamp 

the brand and position itself as a modern, more 

customer-centric organisation. 

“The rebranding has been a thorough business 

evolution. It speaks about the evolution of the 

relationships built with all stakeholders over 

the years as signified by interconnecting lines 

which form a W,” the MD explained. 

He noted that as part of the rebrand, the bank’s 

traditional Purple colour has been revised to 

project a more vibrant, welcoming and modern 

outlook. 

“The customer at the centre of everything we 

do and nurturing great relationships has been 

a hallmark of Wema Bank since its inception. 

We have also made significant investments in 

people, technology and process improvements 

in the last few years to lay a solid foundation 

for this rebranding to come to life.I am very 

proud to see the great changes that have taken 

place internally and externally at Wema Bank 

and we are committed to offering even better 

services into the future”, Oloketuyi stated. 

The Wema Bank boss said it turn 70 as the 

longest surviving indigenous bank in Nigeria, 

“we are glad to unveil a New Wema Bank that 

responds faster and better to customers’ needs 

whilst adapting more quickly to the ever-changing 

dynamics of the industry. We are focused on 

moving Wema Bank to become one of the most 

efficient mid-tier banks in Nigeria in no distant 

future. We are confident that we will sustain the 

momentum and improve on our profitability 

and volume growth from year to year.” 

Regaining National Bank Status 

Wema Bank is currently operating with regional 

authorisation from the CBN, operating in the 

12 states of the South-West and South-South 

geo-political zones and the Federal Capital Territory. 

However, it is making efforts to return 

as a national bank. 

Prior to the new licensing regime, Wema Bank 

had operations in 158 branches across 27 states 

of the federation. 

Oloketuyi said the decision to scale down 

operations in 2010 and operate as a regional bank 

was a deliberate interim measure to reposition 

the bank for better performance. 

“The resultant shrinkage in the geographic 

space of operations enabled us to focus business 

development on our areas of strength as 

a repositioning strategy in the short term. We 

were also able to wind down operations in 

locations where the bank did not have viable 

business. Having stabilised the bank through 

improved processes, systems and people, we 

are well positioned to replicate our new and 

tested service delivery model in other locations 

outside our current geographic space. The bank 

has applied to the CBN for a national licence 

and we are following up to fulfill all necessary 

conditions for the final approval. We hope to 

conclude the process this year,” he said. 

The CEO said Wema Bank has become a 

stronger, more efficient, resilient and customerfocused 

organization with a robust risk and 

governance structures in place to support its 

growth plan. 

“The bank has realigned its business focus to 

concentrate on its key area of strength, which 

is retail banking. We have used technology to 

our advantage, deploying in-branch solutions, 

mobile and internet applications and other social 

media tools to drive customer patronage and to 

reduce our cost to serve. We have continued 

to contain our operating expenses and at the 

same time reporting significant improvement 

in our fee-based income lines,” he said.


BUSINESSWORLD 

INTERVIEW 

Chukwu: Investors Are Not Yet Clear 

about Incoming Govt’s Policy Direction 

Managing Director/Chief Executive Officer, Cowry Asset Management Limited, 

Mr. Johnson Chukwu, told Obinna Chima that the volatility in the stock market 

may persist until the incoming government comes out with a clear economic policy 

that investors can relate with. Excerpts 

A lot of experts have been advising the 

incoming government to focus majorly on 

raising Nigeria’s non-oil revenue, whose 

component is also taxation. Don’t you think 

there would be a backlash from Nigerians if 

the tax rates are increased without a commensurate 

increase in their level of income? 

When you talk of non-oil revenue, there are 

several other areas beyond tax. We also have 

Customs duties, which also accounts for a large 

portion of the non-oil revenue. The Minister of 

Finance and the Coordinator of the Economy 

said recently that there are lots of leakages with 

duty waivers and if we focus more on that, we 

are going to have an increase in the level of 

revenue government gets from Customs. But by 

focusing on tax, what the government would be 

looking at, would not be to increase tax rates, 

but rather to increase the coverage. Today, 95 

per cent of people who pay taxes in Nigeria are 

civil servants and those who work in established 

institutions. That is, those who pay under the 

Pay-As-You-Earn (PAYE) system. But the selfemployed 

people, a lot of them are significantly 

richer or earn more income than those in paid 

employment, but they hardly pay taxes. So, I 

think the emphasis should be on how to bring 

in, into the tax drag net, non-salaried workers 

who have reasonable level of income or even 

those who have low income. There is what is 

called minimum tax. So, everybody that is taxable 

should be subject to tax. I am sure that if you 

bring in the self-employed persons, you may find 

out that the tax revenue will more than double, 

that is on the PAYE. Then on the tax that is 

collected by the Federal Inland Revenue Service 

(FIRS), you are looking at company income tax 

and if you look at its level of enforcement, it is 

also very weak and so, we need to strengthen 

corporate governance standards. That is why I 

am happy with what the Financial Reporting 

Council (FRC) is trying to do. Companies should 

render their annual returns to the Corporate Affairs 

Commission (CAC) and based on that and the 

report they also tender to the FRC, they should be 

subject to tax. So, if all the registered companies 

in the country pay corporate tax, the federal 

government’s revenue would have significantly 

increased. So, the increase in non-oil revenue that 

is being emphasised now does not necessarily 

mean increasing the tax rate, but rather, expanding 

the tax drag net. 

But do you think it will be easy for the 

federal government to get the self-employed 

to pay tax? 

There is what is called self-assessment. Irrespective 

of whether a person is self-employed or not, 

every adult citizen should be made to complete 

a self-assessment form. The self-assessment form 

should indicate whether a person gets dividend 

income, allowance from a board sitting, and profit 

from an unincorporated businesses, etc. So by 

the time you complete the self-assessment form, 

every individual would have a taxable income. 

So, once you fill your tax returns, you should 

also make your tax payment. 

The draft document of the harmonised 

code of corporate governance that the FRC 

released recently has continued to generate 

a lot of debate. What in your opinion do you 

think is wrong with the idea to harmonise 

the various codes of corporate governance 

we have in the country? 

Well, I think what the FRC set out to achieve 

was to protect the interest of minority shareholders. 

That is the primary objective it wants to achieve. 

I also know that it would bring about a higher 

level of corporate governance standards and high 

level of transparency in corporate governance. 

But the hue and cry is because market operators 

feel that the unified draft corporate governance 

Chukwu 

standards would over regulate the economic 

space and businesses and might stifle creativity 

and industrial growth. They are also afraid that 

the objective of growing enterprises may also be 

defeated. You need to harmonise the objectives 

of the corporate entity with the objectives of the 

individuals. For instance, if you take the issue of 

board composition, you have one-third of board 

members being constituted by non-interest bearing 

shareholders, that is, shareholders who have 

no interest in the business, which is what you 

call independent shareholders. The independent 

shareholders’ lack of interest in the business may 

make them not to be as committed in driving 

the growth of the business. And when the key 

stakeholders bring up policies that would drive 

the growth of the company, he might be frustrated 

by the large number of independent shareholders 

who are only risk averse and have no personal 

interest in the prosperity and growth of that 

entity. So, I think having people who have no 

interest, whatsoever in a company dominating 

and having undue influence over the affairs of 

the company may not allow for economic growth. 

So are you suggesting that, that aspect 

of the proposed harmonise code should be 

reviewed? 

Yes, the unified corporate governance regulation 

they want to bring out should be reviewed. They 

need to look at several segments that market 

operators are complaining of such as the issue of 

the rotation of external auditors. The frequency 

of that rotation is also too regular and operators 

are saying that might not allow the external 

auditors to have a deep understanding of the 

operational activities of such companies as to 

carry out thorough audit. So, these are some of 

the reasons why operators are saying the FRC 

should allow that exposure draft to stay longer 

and set up meetings with interest groups so that 

they can synthesise these complaints and see 

how they can modify the guideline to achieve 

the primary objective of protecting minority 

interest without compromising economic growth. 

The stock market has been volatile this 

year, what do you think should be done to 

attract investors to the market? 

If you look at what has happened in the 

market this year, you have to situate it within 

the general political environment. So far, this year 

has been dominated by political activities. We saw 

a presidential election where there was heightened 

political tension about the future corporate existence 

of the country. So, it wasn’t a time for people to 

be very aggressive in terms of investments in 

any instrument, including stocks. Subsequently, 

we were lucky we had a president that conceded 

defeat and that stabilised the polity. But you now 

have policy uncertainty. Investors are not clear 

about what would be the policy direction of the 

incoming government and that is why the level 

bids in the market has been weak. You have seen 

the market move relatively southward over the 

last couple of days and I think that would persist 

until the inauguration of the new government 

and even after the inauguration, until they come 

out with a clear economic policy that investors 

can relate with. 

But don’t you think the retail investors 

should be encouraged to come back to the 

market? 

Well, a lot of factors have to be looked at. Firstly, 

you need to look at why the retail investors are 

no longer active in the market and the reason is 

that they lost a lot of money in 2008 and 2009 

and a lot of them have not recovered from those 

losses. Secondly, there is no available credit to retail 

investors. So, any retail investor that wants to play 

in the market will play with his own equity and 

that equity is highly limited. The third factor is 

that we have seen long periods of contractionary 

monetary policy with the central bank driving 

up interest rate and making investments in 

fixed income instruments more attractive that 

investing in equities. A situation whereby you 

can put your money and earn 13 to 15 per cent 

on fixed income instruments will discourage you 

from playing in the equities market where you 

are not certain of the return. These factors have 

contributed to keeping away retail investors from 

the market. But having said that, I believe after 

the transition has taken place and we have a 

clear economic policy direction and government 

drives some level of financial stimulus to the 

economy, in form of quantitative easing or even 

increasing the liquidity available to the banks, 

so that interest rate would come down and they 

also need to relax the stringent conditions under 

which banks can lend for investment in equities. 

If these things are done, we should see the retail 

investors coming into the market. 

With the current situation in the economy, 

do you think the central bank would be 

willing to relax monetary policy? 

I always say that economic management issue 

is a balancing act. What I mean by balancing 

act is that you cannot achieve everything at the 

same time, something has to give in. So, if our 

priority today is to grow the economy, we need 

to lower interest rate and reduce the cash reserve 

ratio on public and private sector deposits, so 

that banks would have more liquidity. Given 

the depth of investable instruments, rates would 

come down and economic activities would pick 

up because companies and individuals need 

funding to engage in economic activities. But 

because the cost of funds is so high, a lot of 

people cannot borrow to engage in economic 

activities. We are aware that this would lead 

to some level of inflation, which was why I 

said managing an economy is a balancing act. 

So, we may need to accept that increased level 

of inflation as a cost of stimulating economic 

growth. If you look at a country like Brazil, at 

the height of their hyperinflation, the inflation 

rate was more than 1,000 per cent, but they were 

also growing the economy. Today, Brazil is one 

of the top economies in the world, but it had a 

heady growth and they had to accept inflation 

as the cost of that economic growth. 

The central bank and the commercial 

banks have set a deadline for those they 

termed chronic debtors to repay their debt. 

Do you think it was a good initiative by 

the bankers? 

Well, it is good that we have a way of enforcing 

collection and contracts. But whether the name 

and shame is the appropriate thing to do is what 

I don’t think. But I think what the central bank 

should is to work with the Ministry of Justice 

to strengthen the legal system. Foreclosure law 

should be in place, create commercial courts 

where these cases are judiciously treated. But I 

don’t think name and shame would be a lasting 

solution to addressing the issue of recalcitrant 

debtors. We need to go further than that. Those 

collaterals involved should be foreclosed. Even 

if you name and shame a person who had no 

shame in the first place and he still retains the 

funds he borrowed from the bank, what value 

have you created? So, we need to have ways of 

compelling people to pay their debts. 

What are your expectations from the 

new director general of the Securities and 

Exchange Commission? 

The good thing about SEC is that there is already 

a roadmap for the development of the Nigerian 

capital market and i expect him to implement 

it. He has operated from both sides of the coin. 

He had been a regulator and went back as an 

operator and came back as a regulator. So, it 

is easy for him to understand the dynamics of 

the market. So, we need to drive growth of the 

market, we need to deepen the market, we need to 

bring more classes of products into the market. We 

also need to have the key sectors of the economy 

listed in the market. Today, why the market does 

not reflect economic activities is because the sectors 

that drive the economy are not listed on the stock 

exchange. Take for instance, telecoms, it is about 

nine per cent of the GDP, but no telecoms company 

is listed on the stock exchange. Starcomms has 

already delisted. Also, look at the agricultural sector 

that has about 25 per cent of the GDP, apart from 

Okomu Oil and Presco that are listed. Look at the 

upstream oil and gas sector, apart from Seplat, 

there is no other upstream sector operator that is 

listed. So, the key thing is to encourage those sectors 

that account for a greater share of our economic 

activities to become listed. I think that should be 

some of the priority areas of focus for the new 

SEC director general.


BUSINESSWORLD 

27 

ANALYSIS 

Nigerian Banks As Catalyst to Economic Growth 

Eromosele Abiodun writes that the GDP and economic growth achieved by Nigeria in the 

last decade would not have been possible without the firm support of deposit money banks 

The economies of all marketoriented 

nations depend on the 

efficient operation of complex 

and delicately balance systems 

of money and credit. Banks are 

an indispensable element in these 

systems. Commercial banks play an important 

role in economic development of developing 

countries. Economic development involves 

investment in various sectors of the economy. 

The banks collect savings from the people and 

mobilise savings for investment in industrial 

project. The investors borrow from banks to 

finance the projects. Also, commercial banks 

are involved in the process of increasing the 

wealth of the economy, particularly the capital 

goods needed for raising productivity. 

The developed economies need the service 

of the banking system to enable the economy 

attain economic growth, while the developing 

economies need the service of banking system 

for sectorial development. 

Financial institutions are therefore, capable 

of influencing the major saving propensities 

and opportunity. The need to achieve sustained 

economic growth within any economy can 

be possible admits strong financial institution 

and precisely within the existence of a virile 

banking system. Their activities must be such 

that are tailored to work in the congruence 

with government policies and programmes in 

a bid to attaining the desired macro-economic 

objectives as a nation. 

Generally commercial banks not only facilitate 

but speed up the process of economic development 

through making more funds available 

from resources mobilised. 

Through their function of financial intermediation, 

banks facilitate capital formation, lubricate 

the production engine turbines and promote 

economic growth. However, banks’ ability to 

engender economic growth and development 

depends on the health, soundness and stability 

of the banking system itself. 

The need for a strong, reliable and viable 

banking system is underscored by the fact 

that the industry is one of the few sectors in 

which the shareholders’ fund is only a small 

proportion of the liabilities of the enterprise. 

It is, therefore, not surprising that the banking 

industry is one of the most regulated sectors 

in any economy. 

Yet it has been argued in the public domain 

that the commercial banks have not been 

performing the desired roles in improving 

capital formation and promoting economic 

growth in the country. 

Capital formation refers to the net addition 

to the capital stock after of any nation after 

depreciation. It is defined as an addition to 

stock of capital assets set aside for future 

productive endeavours in real sector which 

will lead to more growth in physical capital 

assets of the country. 

Capital formation captures all the real-valueadded 

to the economy in real-asset-terms 

which will lead to further enhancement of 

savings, investment and generation of more 

wealth in future. Capital formation derives 

from savings accumulation. It has a positive 

impact on private savings accumulation in 

the sense that increase in capital formation 

will lead to more savings. 

When savings accumulate it will lead to 

an increase in gross domestic investment 

(GDI) and income generated as a result of 

the investment projects made will, in turn, 

lead to GDPgrowth. 

One of the most striking features of institutional 

credit in Nigeria in the last decade 

has been the significant increase in deposit 

money banks direct lending to the federal 

government (via the bond market) for building 

of infrastructural facilities, programme support 

and meeting budget deficits. 

Post consolidation, banks in the country 

has supported the Nigerian economy in no 

small measure. The result of their support 

is the reported economic and GDP growth 

of seven per cent over the last 10 years. As 

at today, Nigerian economy is the biggest in 

Africa and is predicted to hit $1trillion in 2030. 

Most Nigerian banks played a role in this 

First Bank’s Head Office Building 

success but the first tier banks played the 

bigger role given the size of their balance 

sheet. The clear leader in this regard is First 

Bank Nigeria Limited. 

Nation Building Model 

As West Africa’s pioneer financial services 

group, First Bank can be proud of its contributions 

to national growth and development 

over the past century, which places it at the 

vanguard of national policy evolution and 

thought leadership. The bank’s role in ensuring 

methodical and rapid economic transformation 

has been further strengthened through the First 

Bank Impact Series, the policy and thought 

leadership initiative of the bank. The 

series is run through insightful, actionable and 

change-centred conferences, workshops, seminars, 

strategy sessions, and policy implementation 

road-shows to drive far-reaching changes in 

the society. The initiative provides engaging 

platforms for evolving strategic outlook to 

problem-solving, especially from the capacity 

building and leadership perspectives. So far, 

the Bank has, through its concerted singular 

projects and collaborative partnerships, charted 

sustainable roadmaps in the spheres of leadership, 

youth development and socio-economic 

empowerment. 

Infrastructural Project Financing 

By playing key roles in the federal government’s 

privatisation and commercialisation 

scheme over the past years, First Bank has 

led the financing of private investment in 

infrastructure development in the Nigerian 

economy. A key element of the bank’s strategy 

is its continued focus on retail banking and 

consumer financing, gradually shifting towards 

a high yield diversified portfolio by aggressively 

targeting the middle class consumer market. 

The market opportunity is evident in the fact 

that consumer spending, which is a major driver 

of domestic demand in developed economies, 

still constitutes a relatively lower percentage 

of GDP in Nigeria. 

The Bank’s Transaction & Private Banking 

strategic business unit (SBU) ensures the banking 

convenience of high net-worth customers, 

who require specialised banking services to 

cater for their peculiar needs. Also, in order 

to provide enhanced support for smaller 

businesses, there has been a reorganisation 

of the Corporate Banking SBU to spin out 

the Commercial Banking SBU. This creates 

a different value proposition to that critical 

segment of the business community where 

pillars of economic growth are nurtured. 

First Bank’s Specialised Lending Department 

(SLD) focuses on structuring project and object 

finance transactions across various sectors of 

the economy, especially in the areas of infrastructure, 

power, oil and gas, transportation 

and real estate. 

The bank supports acquisition of stakes 

in Oil Mining Leases (OMLs), financing 

development of oilfields, financing cash calls 

for both operating and capital expenditures 

through Strategic Alliance Contracts. First Bank 

has provided over $1billion to part-finance 

acquisition of interests, as well as working 

capital for production to a number of OMLs; 

and an aggregate of about $500 million for 

construction and completion of Gas pipelines 

to marginal fields and cement plants. 

A review of the industry showed that 

First Bank is at the forefront in financing 

power projects and has provided over $220 

million to part-finance the acquisition of both 

generating and distribution companies under 

the privatisation of the power sector by the 

federal government. The bank’s support for 

infrastructure development spans the entire 

country, having participated in various syndication 

transactions and direct funding of over 

N100 billion for redevelopment and tolling of 

roads, airport terminals, ultra-modern markets, 

site and services schemes, construction and 

maintenance of engineering infrastructure under 

PPP arrangements, New Town Developments, 

24-hour lighting solutions and solar powered 

street lights, and Shopping Malls with Shoprite 

and Game as Anchor tenants. 

Funding Agriculture 

THISDAY findings revealed that First 

Bank is actively involved in the agricultural 

sector of the economy and has been a major 

financier of various types of assets for the 

establishment, expansion and modernisation 

of various agricultural enterprises. The bank 

has introduced customer-friendly and needfocused 

product schemes, partnered with 

international organisations and collaborated 

with Federal, State governments and the 

CBN, to support the sector. The bank told 

THISDAY that it will continue to support 

sectors with viable economic activities and 

infrastructure development projects, within 

the Bank’s defined target market and risk 

acceptance criteria. 

“Furthermore, the Bank will persist in 

generating insightful initiatives to impact 

citizen-oriented national development through 

the First Bank Impact Series and other 

development programmes,” the bank said. 

Corporate Governance 

A best-fit corporate governance promoter, 

First Bank’s corporate governance practice 

remains at the industry’s leading-edge. This 

is especially evident in its laudable leadership 

transition processes, ensuring that there is 

seamless business continuity and stability 

in all aspects of the Bank’s businesses. This 

corporate governance posture has won the 

Bank much respect and recognition both 

locally and internationally. 

The Bank’s prime status has been reinforced 

with the award of the prestigious ISO/IEC 

27001:2005 certification, the world’s highest 

accreditation for information protection and 

security from the International Organisation 

for Standardisation (ISO). By this certification, 

First Bank distinguished itself as the first 

organisation in Nigeria to achieve the ISO 

27001, which is an affirmation that the Bank 

has adopted and complied with the highest 

known standards in information security 

globally. After three years of certification, 

First Bank has successfully implemented the 

recertification of ISO/IEC 27001:2005 in 2013. 

In addition to this certification, First 

Bank again became the first organisation 

to be awarded the BS25999 certification, the 

highest accreditation in Business Continuity 

Management received from the British Standard 

Institute. The certifications confirm the Bank’s 

ability to safeguard its assets, staff well-being 

and customers’ investments, and favourably 

respond to incidents and business disruption 

to ensure business continuity at all times. 

The Bank has also achieved recertification in 

international Business Continuity Management 

CONT’D ON NEXT PAGE


BUSINESSWORLD 

NIGERIAN BANKS AS CATALYST TO ECONOMIC GROWTH 

with the award of the ISO22301 (Societal 

Security: Business Continuity Management 

System) certification. 

Cash Machines 

A distinct leader by total assets and gross 

earnings in the Nigerian banking industry, 

First Bank of Nigeria, a subsidiary of FBN 

Holdings Plc, is validating its leadership 

position yet again as it presently accounts 

for 38 per cent of bills payment services in the 

nation’s banking industry as at December 2014. 

As at December 2014, the bills paid through 

the bank’s Automated Teller Machines (ATMs) 

stood at about N928.48 million while the value 

of airtime purchase on all its ATMs was over 

N3.2 billion. The bills payment option is one 

of the features of First Bank’s ATMs, which 

also have other unique functional features 

which include cash transfer, air-time top-up, 

and cash deposit among others. 

The bills payment option is the non-cash 

transaction feature on the ATM that makes 

it easier for customers to pay for bills such 

as Cable TV subscription, post-paid phone 

bills, and pre- booked airline tickets. These 

transactions can be executed through the 

Quickteller option on any of the bank’s ATMs. 

The Transfer feature enables customers 

to transfer money from their accounts to 

both intra (within the bank) and interbank 

(other banks) accounts, thereby reducing 

the queues in the banking hall, save time 

as well as provide a more convenient option 

for customers’ money transfer needs. In 2014 

alone N251 billion was transferred from one 

account to another using First Bank ATM. 

To reach out to more customers and in line 

with its strategy to drive ease of service in 

banking, First Bank is presently leading in the 

industry as the bank with the highest number 

of Automated Teller Machines (ATMs) with 

over 2500 ATMs deployed across the country, 

making it the nation’s financial institution 

with the widest retail footprint. 

The bank is also currently responsible for 

over 40 per cent of interbank transactions 

and 26 per cent of airtime vending. As active 

mobile network users in Nigeria are over 

130 million and the need to recharge is on 

the increase, the bank’s ATMs also provide 

the platform for easy top-up. 

To further enhance convenience, First 

Bank’s ATMs also operate the Cash Deposit 

function which allows customers to deposit 

funds without customarily having to enter 

a banking hall for this transaction. This is a 

direct testament to its value proposition of 

putting customers first. 

According to the bank, this distinct 

development was achieved as a result of the 

bank’s desire to reach out to more people 

in the country and as part of living true to 

putting customers at the heart of our business. 

“First Bank is positioned to meet the needs 

GMD/CEO, First Bank of Nigeria Limited, Bisi Onosanya 

of its customers and to reach out to the under 

banked and unbanked. Our mission is to make 

banking as convenient for our customers as 

is obtainable globally”, the bank said. 

Financial Performance 

Most analysts believe the bank’s shareholders 

will continue to enjoy mouth-watering returns 

if the 2014 financial year results is anything 

to go by. A review of the results show that 

gross earnings increased by 21.3 per cent 

y-o-y, 44.2 per cent q-o-q to N480.6 billion, 

supported by strong growth in non-interest 

income at N111.8 billion (66.1% y-o-y, 54.5% 

q-o-q), followed by a 12 per cent y-o-y and 

18 per cent q-o-q growth in interest income 

to N362.6 billion. The bank said the growth 

in non-interest income was driven primarily 

by growth in foreign exchange income as well 

as fees and commission income. 

“Overall, gross earnings have been supported 

by increased business volume as well 

as enhanced treasury management activities, 

“the bank said. 

Also, net interest income increased 6.0 per 

cent y-o-y and 9.8 per cent q-o-q to N243.9 

billion (Dec 2013: N230.1 billion) despite 27.0 

per cent y-o-y increase in interest expense. 

Net interest income grew by N67.4 billion 

in the last quarter, slightly stronger than the 

earlier quarters, primarily due to 6.9% y-o-y 

and 56.5 per cent q-o-q increase in income 

from investment securities, followed by a 

346.4 per cent q-o-q increase (10.3% y-o-y) 

in interest on loans and advances to banks as 

First Bank benefits from being a net placer in 

the interbank market. Income on loans and 

advances to customers grew 14.2 per cent 

y-o-y to N251.2 billion. Interest income was 

supported by re-pricing and reallocation of 

assets and investments to the shorter end of 

the curve given the increasing interest rate 

environment. The composition of Interest on 

customers’ loans and advances to interest 

income was sustained at 69.3 per cent, income 

from securities at 25.4 per cent, followed by 

income from loans and advances to banks 

at 5.3 per cent. In the same vein, the bank’s 

unaudited results for the three months ended 

March 31, 2015, showed that its gross earnings 

increased by 23.5 per cent y-o-y to N126.8 

billion with strong y-o-y growth of 51.2 per 

cent in non-interest income to N29.3 billion 

(March 2014: N19.3 billion). 

Gross earnings, the bank said, was further 

supported by a 17.0 per cent y-o-y increase 

in interest income to N95.3 billion. 

Negatively affecting gross earnings was the 

impact of the CBN’s implementation of the 

revised COT charges and the sterilisation of 

the loanable funds in reserve requirements. 

Net interest income increased 1.3 per cent 

y-o-y to N59.6 billion (March 2014: N58.8 billion). 

Interest income closed at N95.3 billion, 

up 17.0 per cent primarily due to a 16.9 per 

cent growth in interest on loans to customers’ 

at N68.3 billion and 12.3 per cent growth in 

investment securities to N22.2 billion (March 

2014: N19.7 billion). Net interest income was 

however impacted by a 57.4 per cent y-o-y 

increase in increase in interest expense to N35.7 

billion due to the impact of an increase in 

the monetary policy rate from 12 per cent to 

13 per cent which commenced in November 

2014, thereby increasing the savings deposit 

rate (30 per cent of MPR) to 3.9 per cent from 

3.6 per cent. 

Corporate Identity Refreshed 

As a brand of fortitude, strength and innovation 

in the Nigerian financial sector, following 

its adoption of a holding company structure, 

First Bank on January 27, 2014 unveiled a 

refreshed corporate identity, including that 

of all its subsidiaries, designed to reflect the 

company’s strategic direction and position it 

to meet the future needs of the market. The 

African elephant which is a respected and 

instantly recognisable icon of its brand identity 

was retained. However, it was re-ignited with 

a number of enhancements that communicate a 

robust evolution relevant to today’s marketplace. 

The Bank 

First Bank of Nigeria Limited is Nigeria’s 

leading financial services institution by total 

assets and gross earnings and one of the 

largest corporate and retail banking financial 

institutions in sub-Saharan Africa (excluding 

South Africa). Since its establishment in 1894, 

the Bank has consistently built relationships 

with customers focusing on fundamentals of 

good corporate governance, strong liquidity, 

risk management and strong capitalisation. 

First Bank operates an extensive distribution 

network with over 750 business locations 

(623 branches, 61 quick service points and 69 

cash canters/agencies), over 2,464 ATM’s and 

over 9 million customer accounts. The Bank 

provides a comprehensive range of financial 

services and has international presence through 

its subsidiaries, FBN Bank (UK) Limited in 

London and Paris, Banque International de Credit 

(B.I.C) in the Republic of Congo, International 

Commercial Bank (ICB) in Ghana, The Gambia, 

Guinea, Sierra-Leone and Senegal as well as 

its Representative Offices in Johannesburg, 

Beijing and Abu Dhabi. 

Nigeria’s First Sugarcane Bio-factory Begins Operation 

•FG targets production of 12.5million cane seedlings per annum 

The federal government has inaugurated 

Nigeria’s first Sugarcane Bio-factory in Zaria as 

part of efforts to achieve national self-sufficiency 

in Nigeria’s sugar requirements. 

Minister of Industry, Trade and Investment, 

Mr. Olusegun Aganga, said the inauguration 

of the one-million seedling per annum capacity 

bio-factory was the first in the series of biofactories 

to be established in the next five years, 

with combined capacity estimated at 12.5million 

cane seedlings per annum. Aganga spoke while 

declaring the Sugarcane Bio-factory open for 

operations at the Ahmadu Bello University, 

Zaria, Kaduna State on Monday. 

He said: “The provision of high grade and 

quality seedlings of sugarcane is essential for 

the attainment of the set goals of the National 

Sugar Master Plan. A bio-factory is a facility 

where disease-free crop seedlings are rapidly 

micro-propagated under controlled laboratory 

environment for planting in the fields. 

“This facility is designed to address a critical 

constraint facing Nigeria’s sugar industry – 

timely provision of high quality and clean seeds 

to sugar estates and farmers across Nigeria. 

We expect that, in four years, five of this kind 

of facility would have been established across 

Nigeria with capacities of between 2million 

and 2.5million seedlings per annum each.” 

Aganga explained that the projection in the 

NSMP was that at least 250,000 hectares of 

sugarcane fields would be required for processing 

in about 28 mills of varying capacities 

to produce 1.79 metric tons of sugar in the 

first phase of the Master Plan. He said: “The 

event today marks another milestone in the 

implementation of the Nigeria Sugar Master 

Plan, which was approved by the administration 

of President Goodluck Jonathan in September 

2012. The NSMP is one of the major sectoral 

policies under the Nigeria Industrial Revolution 

Plan, enunciated by the Ministry of Industry, 

Trade and Investment and launched by the 

President in February 2014. The ultimate goal is 

to make Nigeria’s manufacturing sector highly 

competitive and dynamic. 

“The production of sugar is an integrated 

process with field and factory processes that 

are inter-dependent and mutually inclusive. 

Thus, efficiency in the cultivation and supply of 

sugarcane is essential for efficient milling and 

production of sugar and associated by-products 

such as ethanol and electricity.” 

He noted that the vibrancy and efficiency 

of the Brazilian Sugar industry had been 

attributed to the investment and innovation 

services, which institutions like Brazil’s Cane 

Technology Centre(CTC) were providing to the 

sugar industry in Brazil. 

“This is what the National Sugar Development 

Council seeks to replicate for the Nigerian sugar 

industry through the establishment of this biofactory. 

Today, I feel fulfilled by the achievements 

that we have recorded under the programmes and 

policies that were executed under my charge as 

the Minister of Industry, Trade and Investment. 

“One of the major aims of the NIRP is the 

deliberate linkage of research, technology 

and innovation to industry. Bio-technology in 

particular has opened to mankind a vast array of 

opportunities to significantly improve both the 

quality and quantity of biological deliverables”, 

the minister added.y 

Speaking during the event, the Executive 

Secretary, National Sugar Development Council, 

Dr. Latif Basari, said the new bio-sugarcane 

factory would fast-track the development of the 

nation’s sugar industry, boost industrialisation 

and generate employment. Busari said: “For us, 

the establishment of this ultra-modern facility 

that would support cutting edge technologies to 

rapidly multiply sugarcane seeds for our sugar 

estates and farmers is a clear demonstration 

of the determination of this administration to 

link our nation’s industrial development to 

advances in science, technology and innovation. 

“It will enable the Sugar Council to achieve 

the NSMP goal of ensuring sustainable sugarcane 

production and enhanced productivity 

of sugar mills, all resulting in meeting our 

sugar sufficiency target.” 

According to the executive secretary, this 

will also ensure the long-term viability of the 

Nigerian sugar industry and guarantee that 

Nigeria continues, not only to be food-secure 

in sugar but also derive all the notable benefits 

such as contribution to clean renewable fuel 

and power generation; huge employment 

opportunities; poverty alleviation and rapid 

rural industrial development.


BUSINESSWORLD 

29 

INTERVIEW 

Onyemenam: Only People with Integrity Should 

Manage National ID Card Infrastructure 

The National Identity Management Commission was recently embroiled in a 

faceoff with aggrieved unionists who protested the sack of their colleagues. In this 

interview with journalists, the Director General/CEO, NIMC, Chris Onyemenam, 

clarifies the issues. James Emejo was there. Excerpts: 

The National Identity Management Commission 

(NIMC) has been facing some 

labour issues. What is really the crux 

of the matter? 

The main issue is that some members of 

staff who falsified their service records and 

thus have been profiting from that fraud were 

asked to go on account of a disciplinary process 

recently concluded. The issues at stake are 

fake appointment, promotion, conversion, 

and advancement letters and NIMC have 

had to follow the process as laid down in the 

rules and regulations for the Public Service to 

deal with such cases. The staff members had 

the opportunity for fair hearing, which is a 

Disciplinary Committee, set up to determine 

the extent of the fraud but they choose to go 

to court. It didn’t start yesterday, it didn’t 

start in 2014, it started in 2012, when the 

commission began the process of absorption of 

the Department of National Civic Registration 

(DNCR) staff and the payment of promotion 

arrears, which in itself started 2008. 

And so when they went to court in mid-2014 

to try to stop the process, we obeyed the 

court order and stopped. After seven to eight 

months, the case came to a close and the 

Commission won at the National Industrial 

Court. The court had decided that it was 

not possible for the Court to interfere with 

an administrative or a disciplinary process 

between an employee and an employer, and 

therefore, the Union, seeking an intervention 

of the Court to stop such a process on its 

behalf was an anomaly. We then took our 

time, to invite them again, this time in 2015 to 

come and clear themselves from the allegations 

following the queries issued, and some of 

them came, and a few were exculpated, and 

have since been issued their proper placement 

letters. Other felt it was till a court issue and 

failed to avail themselves the opportunity of 

an appearance that in its self is a violation 

of a public service rule. 

There are others who did not come and 

somehow, felt that Management should allow 

them to continue to profit from what we call 

a fraudulent act on their side. Which is not 

appropriate. By the way, we have reported 

the criminal aspect of this issue to the police. 

This is what is required of us because the 

criminal aspect of their conduct is not for us 

to deal with. It is the administrative aspect 

that has to do with discipline that is our 

responsibility, and we have gone through 

the whole process. There are public sector 

institutions that are supposed to help ensure 

that indeed an adequate and appropriate fair 

hearing were present at the disciplinary committee 

sittings: the office of the Secretary to the 

Government of the Federation (SGF), the Office 

of the Head of Civil Service of the Federation 

(OHCSF), Federal Civil Service Commission 

and he Federal Character Commission were 

all duly represented. 

However, the Union, representing staff 

members have decided for whatever reasons to 

resist the outcome of the disciplinary process, 

suggesting that they encourage such fraudulent 

acts, and clearly want to divert attention from 

the major facts and issues at hand. 

Where these staff not employed under 

your watch? 

No. This set of staff, were not employed 

by NIMC. They were among those whom 

the Commission had to take over from the 

defunct DNCR and essentially, if you take 

over the assets and liabilities of an institution, 

it is only proper that you look into the quality 

of the assets and liabilities you have inherited, 

to determine whether the ownership you are 

now being conferred with by virtue of the 

Onyemenam 

provisions of the Act that made it possible is 

acceptable. That enables you to decide on the 

next issues: trainings postings, redundancy, 

recruitments, among others. 

For these set of staff members, however, 

it has nothing to do with whether they are 

competent, whether they needed training, or 

whether they could fit into the new scheme. 

It had more to do more with the character of 

the person we are talking about. Because if 

you could falsify your own service records, 

and you expect to be given the responsibility 

to attend to and manage and operate personal 

information and the collection, processing and 

use of database that people should rely upon, it 

takes a lot away from the entire National Identity 

Management System (NIMS) infrastructure. 

If you have a character issue of that nature, 

it is indeed a huge issue if someone with a 

questionable integrity is the gatekeeper of the 

infrastructure that should help us achieve a 

secure identity system and that is the crux of 

the issue. The dilemma is what to do with a 

staff member who has put in several years 

of service including years during which he 

profited from fraudulent act he perpetrated 

which represents his character as inimical to 

the safety and future of the project. 

So why did your management choose 

now to swing into action? 

Really not sure your question is couched 

rightly, but here is the answer. This process 

started long ago. It was preceded by at least 

three verification exercises. First was the 

one we did in collaboration with the service 

providers approved by the Federal Executive 

Council in 2008 to enable us know the assets 

we were taking over in terms of numbers 

and categories. That led to the elimination 

of what we may refer to as ‘ghost workers’ 

because they didn’t turn up for verification. 

Second was when they were to be sent back 

to the office of the Head of Civil Service, since 

they were pool staff. Then there was a third 

verification exercise which was jointly don with 

the office of the Head of the Civil Service of 

the Federation which was successfully done 

and brought out conclusively, the issues on 

which they were given opportunity to explain. 

That opportunity was given in June 2014 and 

the sitting of the Disciplinary Committee was 

delayed by the court action for about eight 

months s mentioned before. It was after the 

ruling of the court which was in our favour 

that we subsequently recommended the process. 

It happen to b now –March-April 2015. The 

Board gave its approval only last two week. 

What would you have done if you were 

in my shoes? 

I cannot because I am about to end my tenure 

in a couple of months, refuse to do my job 

properly, and thus pass on a liability or leave 

behind an organisation and infrastructure that 

will simply have an unintended consequence 

for my successor. One of the most important 

reasons why we embarked on the evaluation 

of the quality of the assets we took over, was 

first to be sure of what we were inheriting. The 

second thing is that if you want the unique 

identification system to be globally recognised 

and acceptable, we needed to benchmark our 

service and organizational infrastructure in 

terms of deployment and processes to accepted 

standards globally and one of the tools or index 

used is the information security management 

system. 

There are various levels of certifications for 

identity and database management infrastructure: 

the data centre, the data capture, network, 

connectivity, etc., and what that shows when 

you obtain these certifications simply put, is 

that you have a very good and safe identity 

management infrastructure. We wanted to 

ensure that that was in place, because one 

thing that can make you loose your certification 

overnight is if you have questionable integrity, 

and so we were always conscious of the need 

for background checks to be conducted as 

fast as possible so why leave these ones that 

we started to work on long ago because I am 

leaving office in about six months from now? 

It behooves on me as a responsible custodian 

to ensure that I am leaving behind a safe 

infrastructure, and these former colleagues 

wouldn’t help to ensure the safety of that 

infrastructure and it is inconsistent with the 

certification programmes that we have spent 

and labored so much to achieve so we needed 

to address this difficult choices and decisions 

to be made. Sur, it was difficult, but it have to 

find a way of making things work differently. 

Just not that this issue didn’t start yesterday, 

and it’s not like I am in a hurry to conclude 

the process. After all, the decision of the court 

which was in our favour was obtained on 

December 5th, 2014, and here we are today, 

May 11th, 2015. If I had wanted to quickly get 

it done, I would have done so in December. 

Third, government is a continuum that I am a 

Director General today and due to leave office 

November 27th, 2015 does not mean that I 

shouldn’t do what the Commission can do 

now. It is left to my successor to come in and 

say, this is not consistent with the rules and 

the regulations, he will still follow a process. 

And as long as we have followed the process, 

I really didn’t think there was any need, or 

was it right to pass on the problem. 

One of the allegations of the aggrieved 

unionist is that you want to sack their 

colleagues so you can recruit your cronies. 

How true is this allegation? 

Well, if I want to sack them and recruit 

my cronies, then the next person will sack 

those people and recruit his/her cronies 

and the vicious circle goes on. That is not 

public service operates please. That is not 

how countries develop, and that is not how 

institutions are built. We didn’t and I am 

not in the habit of doing that. There is a clear 

government policy which we adhered to. We 

advertised, and went to the Federal character 

commission and obtained the allocations for 

all the states and we adhered to that. In spite 

of the allocations, we still made sure that 

those who we picked up the slots for each 

states were people who merited it in terms of 

qualifications, age, experience, relevance etc., 

and so, there is no truth in that allegation. 



BUSINESSWORLD 

INTERVIEW 

KHAN: NIGERIA’S FUEL SUBSIDY POLICY IS REGRESSIVE 

Your management is accused of unfair 

labour practices such as anti-women policy 

and the example of a pregnant woman who 

had to resume a day after child birth and 

then denying staff members their right to 

go on annual leave were cited. 

This is not true. NIMC Management is very 

labourfriendly. And I can give a few examples: 

We negotiated the redundancy package with 

the Unions in 2012, we signed an agreement 

with all the Unions including the ASCSN 

subsequently, we conducted the nationwide 

staff verification exercises with them each 

time we did it. We paid overtime, special 

allowances when we deployed the identity 

management infrastructure nationwide and 

we revived and provided support for the 

management of the staff transport scheme 

until they stopped running the scheme. We 

paid medical bills on compassionate grounds, 

we still run a clinic with medical doctors and 

sufficient drugs at the Head Office. 

The examples cited are a misrepresentation 

of facts to justify picketing NIMC by the 

ASCSN. Government’s employment policy 

is virtually the same in all MDAs and it 

does not discriminate against women. In the 

particular instant, honestly I think the Union 

is being unfair to Management and the lady 

in question. The truth is that she submitted 

a medical report during documentation, on 

resumption of duty that says she is not pregnant, 

But she was indeed pregnant. That is error 

number one. She could have been honest and 

Management would have said please go and 

have your baby and come back four months 

after to resume. There were such cases and 

we counselled them and they obeyed. To do 

otherwise would amount to being insensitive. 

Error number two is that she concealed the 

pregnancy for at least nine good monthsand 

she gave birth perhaps over the weekend and 

resumed the next working day. Now imagine 

how Management would have been vilified if 

anything had happened to her. So for obvious 

reasons we asked her to stop work, go and 

look after her baby and come back after four 

months. She did and we let her come back to 

work like other women who were pregnant 

on resumption and took our counsel, so that 

we all keep to the rules as best as possible. Is 

that anti-women policy? The same Union that 

applauded Management is now misrepresenting 

the facts to justify its action. 

About the annual leave issue. It is completely 

false. There were times when I directed that very 

senior people should not go on annual leave 

at particular times of the year. Whenever we 

were deploying or testing major components 

of the identity infrastructure I always made 

this clear, but not that they could not go on 

leave at all. However if you did not apply or 

were not entitled and or qualify for leave on 

compassionate grounds you should not go on 

leave. If you are being investigated it becomes 

very important that you should apply and 

obtain approval before you absent yourself 

from work. 

What of the accusation about not wanting 

to train and retain them? 

If the ASCSN is honest they will tell you 

we had done very well in that regard. Check 

the audited accounts and see how much we 

had spent on staff training local and abroad. 

Since 2008 we focused on sorting a few issues 

out that included retaining the trainable ones 

and equipping them well for the new system 

we have deployed. But there is something 

unusual in the defunct DNCR – they had the 

highest concentration of Executive Cadre staff 

in the entire public service and most people did 

not have the kind of qualification that fitted 

the restructuring and technology deployment 

we were doing. SAGEM of France excluded 

Nigerians in the core aspects of these deployment 

when the last ID Card Scheme was implemented. 

There was no sufficient requisite staff and we 

had to do a lot of rebuilding. We trained and 

absorbed those we could, provided they did 

not have any service records issues. Some 

of them were actually junior staff members 

inherited from DNCR. If I may ask, what do 

you do to a staff who did not attend any 

training because he or she was not around 

– was away in school and being paid, even 

went for NYSC elsewhere, got paid NYSC 

allowance and as a staff of DNCR/NIMC? 

I challenge the national ASCSN to ask each 

member of the local executive committee of 

Onyemenam 

the ASCSN NIMC Chapter to produce their 

staff service records to them for verification 

and make their findings public if they do not 

believe Management is sincere and honest. 

We know times are hard, we know some of 

them had put in years of service but do we 

abide in sin because grace abounds. What is 

the kind of institution we want to help build? 

I stand to be corrected, the Union has indeed 

been very unfair to NIMC Management, in 

particular the Governing Board, the Office 

of the Secretary to the Government of the 

Federation and the President, honestly. 

What we have focused 

on, and if you like 

call it a legacy is the 

establishment of a 

National Identification 

System that has come 

to stay. Now we have 

moved from there, 

to then institute a 

National electronic 

Identity Card that has 

also come to stay 

You were talking about some awards 

presented to NIMC in Dubai. Can you 

elaborate on that please? 

This happened on Tuesday the 12th of May, 

2015. There is this Smart Card and Payment 

Awards in the Middle East organised annually. 

It is a global event where developments in 

the smart cards and payment industry are 

assessed globally and institutions are encouraged 

to submit their products for assessment and 

evaluation. We were one of the five institutions 

that made the final list in our category ‘Best 

Payment Initiative Africa’ and NIMC clinched 

the award. 

The National e-ID Card was adjourned the 

most innovative African payment platform in 

2014. And for us, that is an important endorsement 

by the global community and as I speak, 

a couple of countries have indicated interest 

over the past six -seven months to come and 

understudy the Commission and see what we 

have done and how we did it. They include 

Ghana, UAE, Tanzania, Kenya, etc., so we are 

currently blazing the trail if you like in Africa 

and across the world. This is because it is 

not that the presence of a payment solution 

and an electronic identity on the same plastic 

have not been done before, what has not been 

done before is having more than just those 

two and having it at the level of a global 

name like MasterCard. 

Typically, what people do is to have an 

electronic identity and a local payment solution 

that is not deep enough and does not help 

in deepening financial inclusion or access to 

financial credits. But the partnership we have 

with MasterCard meant that our Card will be 

acceptable in over 210 countries and anywhere 

and amongst any of our banks and that is 

beautiful and that is what made the news 

around the world because we were able to 

make the criteria set by such a global brand 

as well as global standards for eID Cards. 

What we have focused on, and if you 

like call it a legacy is the establishment of a 

National Identification System that has come 

to stay. Now we have moved from there, to 

then institute a National electronic Identity 

Card that has also come to stay. Now we 

have moved to the level of implanting the 

identity verification scheme that is currently 

being used by one of the security agencies and 

as soon as we have the green light, it will be 

deployed in all of our airports and we will 

begin to see the value proposition in what we 

have done. So we have delivered. All that is 

left is the scaling up of the project and it was 

not originally the intention of government to 

handle the scaling up of the project? It was 

supposed to be handled by the private sector 

SPA s appointed as concessionaires. 

Finally DG, how would you like to be 

remembered, what legacies are you leaving 

behind in NIMC? 

By the time I leave hopefully at the end 

of my tenure in November 2015, the most 

important legacy and first thanks to God and 

second to Mr. President who made it possible 

for us to serve. Electronic identification scheme 

for Nigeria, we have also been able to set 

up a straight identity verification scheme for 

Nigeria. My team and i will be remembered 

for three thing; the winding up of the defunct 

DNCR has been completely achieved and there 

is no such thing as DNCR anymore, and if 

you investigate properly, you will find that 

there are institutions that have been wound 

up either by policy or laws still find a way of 

remaining around. That is not the case with the 

DNCR. Second, the three decade problem old 

of ascertaining or deciding on how to uniquely 

identify Nigerians has been laid to rest and 

that to me is an important legacy and I am 

sure that my team and I will be remembered 

for our pioneering efforts in ensuring that there 

is a departure from the past ways of doing 

identification in Nigeria. Like I very often say, 

we cannot solve our problems with the same 

thinking that we used when we created them, 

that was what i learnt from the legendary Albert 

Einstein. The thinking we had before led to 

an obsession with National institutions and 

the private sector, focusing on card issuance 

as an end to its self. Sometimes there cards 

can be duplicated or obtained from a business 

centre nearby. What we have now is a system 

that assures and uniquely says you are who 

you say you are and the Commission can 

confirm this conclusively. In our systems, this 

is represented by a set of 11 digits number 

that cannot be duplicated and is verifiable 

in a secure manner. And before the numbers 

are issued to anyone, care would have been 

taken to ensure through a specific process that 

is repeated for every such entry of personal 

information that your information had not 

been previously entered into the system, by 

the use of your biometrics (face, fingerprints 

and as we will soon upgrade to iris), because 

there is a National Identity Database (NIDB) 

where the data is stored. That is the beauty of 

what we have. And you know what what, it 

is secure, see with a disaster recivery/ business 

plan and Nigerians and local firms are 

significantly involved. Also, the National e-ID 

Card is the only government ICAO compliant 

token whose document signeris resident and 

managed in Nigeria. 

How useful will this legacy be to Nigeria 

and Nigerians? 

Positively. This is one legacy of President 

Jonathan’s administration that will be useful for 

the incoming administration. My understanding 

is that the incoming administration has security, 

unemployment and social welfare payments 

as very cardinal programmes to pursue and 

you must first be able to ascertain who each 

individual is before talking about eligibility 

for one social welfare programme or the other. 

Thats why the safety Nets Projects is already 

tied to this NIMS project. You must be able to 

talk of a foundation identity before talking of 

a functional identity. And so, it is very central 

or core to any attempt at addressing security 

social welfare issues particularly when you 

want to implement social welfare programmes 

like paying stipends to the unemployed or 

other deserving citizens, payment of benefits 

to farmers like we are currently working to 

deploy with the Federal ministry of Agriculture, 

payment of pensions to pensioners, payment 

of any other social benefit to citizens and 

for any other government transfers. So that 

process of providing unique identification for 

ensuring that such programmes get to the 

targeted population is already in place. This is 

an important programme for all times honestly 

and Nigerians should be appreciative of the 

effort of all NIMC staff. 

Secondly, a foundation identity provides you 

with the important tool not only facilitating 

service delivery across the public and private 

sectors abut also for fighting crime. It is going 

to complement the works of the security 

agencies. I alluded to the fact that access has 

been given to one of the agencies that is able 

to use the database to verify the identity of 

individuals and by the time we put it to use 

in some of the other government agencies 

and even in the private sector, the rate of 

identity related frauds will just take a dive 

downwards. 

Also unique identity means you can count 

the number of unemployed and channel them 

through a scheme using the card and luckily 

there is a payment solution on it. So it helps 

you to organise schemes around specific 

programmes based on eligibility indices, which 

is similar to what we are currently doing with 

the Ministry of Agriculture.


BUSINESSWORLD 

INSURANCE 

Odukhale : Retail Insurance is the Only Way 

to Develop Nigerian Insurance Industry 

Mr Oye Hassan-Odukhale is the Managing Director of Leadway Insurance LTD. 

In this interview with Ebere Nwoji, he spoke extensively on burning issues in 

the insurance industry especially the importance of developing retail insurance in 

Nigeria excerpts. 

You have just pushed a unique insurance 

product to the market , the Family Benefit 

Plus, which is a kind of funeral expenses 

insurance cover and in retail insurance 

category, what informed your effort in 

this direction now? 

Insurance is a business that you do with 

a large number of people. You want to make 

sure that you touch people. One of the things 

we have been accused of in Nigeria is not 

reaching large number of Nigerians.That is low 

insurance penetration in the country. 

You penetrate insurance better by selling the 

product generally to a larger number of people. 

Even the commissioner for insurance himself 

agree that we have not adequately penetrated 

the market. 

Nigeria has a population of over 175 million 

people so where we look at it that the market is 

tough, people outside Nigeria see it as opportunity 

because they look at the number of people we 

have and if you can sell products to them you 

know you have penetrated the market. So it 

is a matter of time we are looking at it also 

that we need to look at our backyard .There 

are people to reach there,I look at it that we 

in insurance industry , we have been a bit lazy 

I will be frank with you .We are not trying to 

reach people enough with insurance. When it 

comes to overall premium income of insurance 

industry,it is not all that bad but most of them 

come through commercial insurance because 

you can sell one policy to an organisation for 

a couple of millions. 

You need to sell probably 1000 policies to 

individuals to make that same level of premium 

and previously we had challenges of bad payments 

system because you want to sell in a way that 

you can efficiently collect your premium. Now 

it is getting better but we are still struggling. 

You Cannot say you want to post your cheque 

from your house to insurance company, you 

are not sure of the safety and if you have to 

use a dispatch to go and collect N2000 from 

Ajegunle, you know the expense of using that 

dispatch. 

So we have a lot of things that have not 

worked in our favour and when you use 

agents, some agents can be very funny and that 

also can affect your brand. Sometimes they will 

collect the premium they will not remit it to 

the company then you have insured that is not 

happy with you. So we have a lot of challenges 

but still is not enough reason for us not to try 

and take advantage of the opportunities that are 

just lying at our door steps in terms of market in 

Nigeria, but I think we are all waking up to it. 

Talking about retail market , your 

colleagues out there complain that it is 

expensive what is your own experience? 

Retail is very very expensive but is the only 

way out.If you don’t face it now, you have to 

face it some other time and it takes a while to 

reach a critical mass in retail but in terms of 

investment, it is very expensive.Now we believe 

in Leadway, that if we don’t do it now when 

will you do it because one day you have to do 

it. You have to look at the retail market that is a 

case for you.Corporate insurance with time may 

reduce because there are a lot of mechanisms 

in term of managing risks but the retail person, 

the man that has one car must insure that one 

car because that is the only car he has.But the 

man that has 50 cars, to insure one may be 

hard because he has other cars. That is how 

to relate cooperate to individuals. 

So the person that needs insurance more is 

the individual, am not saying cooperate don’t 

need insurance, they need insurance but their 

own insurance is more sophisticated but the 

basic insurance: your motor, fire, house, children 

‘s education is mostly individuals but to reach 

them, that is why I said reaching them, collecting 

premium is expensive. 

Odukhale 

So what is the way forward? 

Am not saying because it is expensive we 

will not face it, yes we will face it.Now when 

you see some foreign companies coming to 

Nigeria, that is what is attracting them.They 

are not coming to Nigeria to insure NNPC, no 

they are not interested there , they are coming 

to Nigeria to insure people like you.That is 

what is attracting them.they deal with so many 

people with low insurance density they know 

it is going to be expensive initially but when 

you overcome it you will just be cruising but 

to reach that critical mass. In Nigeria,we must 

reach that critical mass,people must feel our 

impact as an industry , companies feel our impact 

because we pay their claims, but individuals 

will say insurance companies,they don’t pay 

claims but companies say we pay claims because 

we are not reaching them they are not feeling 

our impact enough, now if people start buying 

policies from insurance companies and they 

are getting paid or whatever, that is how the 

news will spread and they will share with their 

friends saying ah!these people are paying o!. 

For instance,now you buy insurance of this 

Family Benefit Plus and something happens 

to your family and you get paid and you have 

a smooth burial,you will tell your friends that 

ah! this thing worked for me and that is the 

best advertisement .So it will get around. 

So if you want to share your latest 

experience in terms of retail insurance 

what will be your opinion? 

There is still work in progress, we are not 

yet there, but we are ready to face it squarely. 

There is mass premium in retail insurance for 

instance, in corporate you con do premium of 

N1billion but for you to do N1 million in retail, 

it will take you a long time, it is a lot of policy 

count. You have to issue a lot of policies. But 

overall retail can be more profitable when you 

get the right number .Also it smoothens your 

experience.If yo are insuring one big factory 

now,if there is a claim, you know how much 

you will pay. But if you are insuring retail, 

how much claims can you have.Also in retail 

insurance, companies retain more premium 

because if you are insuring your car and 

your car is N5million, Leadway can retain 

it.But if Leadway is insuring a plane for $5 

million Leadway cannot retain a premium 

of $5million . So if you pay us the premium, 

it is going to the reinsurance.So if you work 

out a premium retained in commercial insurance 

and retail insurance, you see that in retail 

insurance, you are better off.For instance, if you 

are a commercial insurer and you are doing a 

premium of N1billion you may probably retain 

N300million premium,am just talking of the 

curve but if you are a retails underwriter, if 

you do N1billion you may retain N900million 

that is the difference. 

Bancassurance guideline was recently released 

after it was suspended, what opportunities does 

that offer to insurance: 

I think what the CBN wanted to achieve 

was to ensure that the banks are not exposing 

their balance sheet to any insurance risk at all 

and which in some experience we have seen 

it about to happen or nearly happened.They 

want to make sure that it is very clear that 

the risk lies with underwriter that the banks 

are not exposed .I think that is the genesis of 

that circular to me . The CBN is saying hold 

on, you are a banker yes you have clients 

let’s study it very well ,we will allow you to 

expose your clients to insurance companies, 

but the risk rests with the insurance companies 

totally no risk should in any way or any form, 

be in your books and if things are not very 

clear,there can be mistakes.In Leadway we have 

experienced it with one bank particularly we 

have to accommodate the claim because it was 

not tidy and it was their fault and when I was 

talking with the MD of the bank he said wao! 

I did’t know this thing can create problem for 

us this way that was about the time Central 

Bank suspended it. 

So things can go wrong if they were not 

well defined and that is what CBN is trying 

to guard against. 

But there is a provision in the guideline 

that says banks are only limited to two 

insurance companies meaning that if a 

bank can accommodate two, insurance 

companies can go to a number of banks, it 

was not specific how many banks insurance 

companies can sign up to. 

No insurance companies can sign up with all 

the banks . If you are one of the two the banks 

want to sign up with,what they are saying is 

that they want the banks to be limited to two 

partners and I think it is just the beginning.You 

know when you come up with new things,you 

want to study it gradually and see how it goes 

you make it a bit tight but with time you will 

release it so they are just limiting the banks 

to two and I don’t think there is any problem 

with that. 

You don’t think it could place the banks 

in such a position that insurance companies 

will have to cluster or compete to partner 

with banks? 

No they are just saying that one bank can have 

not more than two insurance partners, any two 

insurance partners .What they are also saying 

is that let the banks also be able to compare 

not just be confined to one insurance company 

because there is value in competition for the 

consumer. So they want the banks to be able 

to relate with two insurance companies not just 

one. So I think that is what they are doing and 

I don’t think there is any problem with that. 

The first quarter results are coming in 

and some of the results are not too robust 

showing that probably the industry didn’t 

do well.The group life insurance ,police 

pension have not been paid why is the 

result like that ? 

You have said it, the premium has not been 

paid, and it cannot be ignored.We also know 

that there is a challenge in the economy. Government 

must set priorities for what they do but I 

believe that very soon they will look into that 

area. There have been challenges, you know 

our main source of foreign revenue income 

is oil and there is deep in the oil price so it 

affected everything ,it affected government 

revenue, you know many state governments 

have not paid salaries, so you want to resolve 

these things before you say you want to pay 

insurance premium.But overall every business 

go through turbulent times it cannot be smooth 

and selling every time you must go through 

some hard time, the economy gets through hard 

times, we pray that it will get better again.It 

cannot just be one way traffic, there may be 

times you have challenges in every industry. 

How soon do you see recovery? 

We have a new government coming up and 

we all pray that it will find solution to all these 

problems we are facing in the country. Look 

at the cue of petrol.But It is for every body 

not just for the insurance industry, it is for the 

entire economy and insurance is a reflection of 

what is happening in the economy we don’t 

create business we only insure business so if 

the business is not doing well, what are you 

going to be insuring, we are the mirror of the 

economy so is only when the economy is doing 

well that we do well also.If the economy is not 

doing well what are we going to be insuring. 

You are a major player in life insurance 

and pension.Both offer benefits to retiree s 

on the platform of annuity and programme 

withdrawal and Nigerians are at liberty 

to choose between the two, what is your 

experience in annuity and programme 

withdrawal pension market? 

It depends on what the insured wants. It is 

like you want to buy a car, you want to buy 



BUSINESSWORLD 

NEWS 

NAICOM Dissolves Board of IEI, 

Appoints Interim Board 

Ebere Nwoji 

Insurance industry regulator, 

the National Insurance 

Commission (NAICOM) has 

announced the dissolution of the 

Board of International Energy 

Insurance (IEI) and Mhas set 

up a three-member interim 

board to oversee the affairs of 

the company while necessary 

investigation is being conducted. 

Announcing the dissolution, 

NAICOM ‘s spokesman Rasaaq 

Salami said as part of the 

commission’s intervention, the 

chief executive officer and some 

key officers of the company 

would proceed on leave to pave 

way for a thorough investigation 

of the affairs of the company. 

“The action is pursuant to 

the powers conferred on the 

commission by enabling laws 

to intervene in the affairs of the 

company as a result of financial 

reporting failures, allegations 

made against some of the 

directors, and board squabbles 

necessitating regulatory action 

in the interest of policyholders 

and other stakeholders of the 

company. 

He said members of the 

interim board include the 

former Director-General of the 

National Pension Commission 

(PENCOM), Muhammad 

Ahmad, who will serve as 

its chairman, a former Commissioner 

of the Securities and 

Exchange Commission (SEC), 

Ms. Daisy Ekineh and a onetime 

acting Managing Director 

of Societe Bancaire Nigeria 

Ltd (now Unity Bank Plc in 

Consolidation), Mrs. Bridget 

Ibiyemi Adeyinka. 

Salami said the board is 

mandated to conduct forensic 

investigation into the affairs 

of the company and identify 

factors and persons responsible 

for the erosion of shareholders’ 

value. 

“The appointment which 

takes immediate effect shall 

be for an initial period of six 

months, subject to renewal, if 

necessary”, he said. 

Leadway Assurance 

Launches Family Product 

Leadway Assurance Company 

Limited has launched a 

new Life product named the 

Leadway Family Benefit Plan 

Plus (LFBPP). The product is 

a multi-life policy designed to 

cover funeral expenses for the 

assured lives (spouse, parents 

and/or parents-in-law that are 

named in the policy) and the 

policy holder (person who 

purchased the policy). The 

policy helps to alleviate and 

bury the worries associated 

with the funerals for elderly 

loved ones. 

Giving details of the new 

product, Head, Life Retail, Mr. 

Femi Adebayo, explained that 

the policy provided funeral 

benefits in respect of all the 

assured lives as long as 

their death preceded that of 

the policyholder. The policy 

also provided other benefits 

including offering additional 

monthly payments to the 

beneficiaries of the policyholder 

in the event of his demise. The 

Family Benefit Plan Plus, he 

said, was one of the ways in 

which Leadway Assurance 

was making life beautiful 

for its customers. 

Also speaking at the 

product launch held at the 

Corporate office of Leadway 

Assurance in Lagos on 

Wednesday, the General 

Manager, Life Division, Mr. 

Shadrack Sivhugwana said 

he expected that the “demand 

for Funeral insurance will be 

the main driver of insurance 

growth in Africa in the next 

couple years.” 

He urged the public to take 

advantage of the new product 

and be prepared when the inevitable 

happened. Established 

over 45 years ago, Leadway 

is a composite insurance 

company underwriting both 

Life and General Insurance 

business with 23 branches 

spread across Nigeria. 

PRODUCT LAUNCH 

L-R:Head, Mass Market Segment, Etisalat, ldowu Adesokan; Chief Marketing Officer, Etisalat Nigeria, Francesco Angelone; Manager, 

High Value Prepaid, Chinelo Mbanefo and Director, Consumer Segment, Oluwole Rawa at the launch of Etisalat Easylife 4.0 limited 

Edition in Lagos...recently 

abiodun ajala 

ODUKHALE: RETAIL INSURANCE IS THE ONLY WAY TO DEVELOP NIGERIAN INSURANCE INDUSTRY 

Toyota or Honda, it is your choice, it depends 

on what you want you cannot say this product 

is a better product .programme withdrawal, sets 

of payment coming over a period guaranteed 

.Annuity may be for life so they are different 

programmes even in some countries abroad 

where they used to have annuity alone , they 

are now encouraging programme 

withdrawal also. So let the people make up 

their minds on what they want. Every market 

should give people opportunity of a choice. So 

I think is good for our system to have annuity 

and programme withdrawal let the people make 

up their mind on what they want. And they are 

not very complicated programmes so you can 

read it. Get conversant with whatever you want. 

So there is space for everybody.Some people 

are happy with their programme withdrawal, 

some people are happy with their annuity. 

Each time you discuss with players in 

other Industry like banks,they keep on 

saying that insurance industry has a lot 

of fringe players.They feel that the best 

way to grow the market is consolidation 

through mergers and acquisitions what is 

your view on that? 

I think you may not be totally wrong if 

you say that we still have a good number of 

insurance companies.But you know sometimes in 

some economies,you have insurance companies 

that want to do only one mono product. Now 

should their capital be the same with the ones 

that want to insure plane? I don’t think so. 

So it is not just size , you may have your 

niche, like you know in the banking now you 

have national bank , you have international 

bank with different capital base, an insurance 

company may say I want to do this kind of 

product only, I think they should be able to have 

choice you do that one product, you specialise 

on it and be a master on it. 

The regulator prefers industry advertisement 

to product advertisement, what s your 

position on that? 

When you talk about insurance product, you 

are talking about insurance industry. 

It is the same subject.when you talk about 

insurance industry or say buy insurance, it doesn’t 

really hit it until you talk about a product, 

when you talk about the product people can 

have a kind of connection with the production 

because that product is the something that suits 

them. But if you just talk about insurance, it is 

okey but you may not get a kind of impact like 

when you talk about our Family Benefit Plus. 

Now you may say do I need this product or 

not,you may ask yourself this kind of question 

but when you talk about insurance, you may say 

okey insurance but I will tell you that as much 

as insurance companies advertise any oftheir 

products, it is a plus for the insurance industry. 

There has been a lot of reforms in the 

insurance industry particularly from the 

National Insurance Commission and one 

of them is the No premium No Cover and 

the Risk Based Supervision I will like you 

to access how far this has impacted on the 

industry? 

I think we have a very strong vibrant NAICOM 

now and I think most of us in the industry are very 

happy with our commission, they are pushing us 

very hard but they are pushing us to the right 

direction. Now we have overcome the issue of 

no premium no cover, that has been an issue the 

insurance industry has been battling with for 

years now. But now the commission has come 

up with something that is working beautifully 

well.Yes you still see a bit of outstanding here 

and there or whatever but it is something we 

can manage. Now Risk Based Supervision, that 

is where we are all going into right now, that 

is where the world is also right now, because 

you should look at the key risk that affects a 

particular company and target that area, that 

is what they do abroad right now. You know, 

you may look at this extra company,they do a 

lot of this product, let me look at that, are they 

doing it very well, let me focus on that and you 

narrow on that and look at it very well. Now 

for instance, if you have a new product, lets 

say annuity is new in the Industry and you 

have motor business which is as old as it is , 

you are not going to spend the same length of 

time inspecting the insurance company’s book 

on motor and on annuity business, that is it so 

you focus on areas where there is competition 

of risks as you see it.So when you are inspecting 

or you are looking at companies, you look at 

companies differently because you look at areas 

of the company where you see challenges or 

where you think that you need to work on and 

you focus on that area.If you go to another 

company they have a different issue, you focus 

on that area so I think it is very positive and 

it is going on right. 

The issue of capacity in oil and gas business 

underwriting in Nigeria has been a 

recurring issue even with the oil and gas 

pull formed by the industry. In the face 

of the pull can you say the Industry can 

underwrite oil and gas business 100 percent? 

Every business that comes to Nigeria we 

underwrite hundred percent.When we issue a 

policy in the market, we sign the policy hundred 

percent so I don’t see the need for cry about 

oil and gas its not different from like when 

we are insuring a big building, or a marine 

business or a marine hall business which we 

sign hundred percent also so I don’t see the 

cry about oil and gas. In every business we do 

reinsurance and where we have the excess that 

is above our capacity, we reinsure the business 

but we do the business hundred percent. 

What is the future of the industry like 

More competitors are coming into the 

industry I mean foreign players are coming 

into the industry what does this portend 

to the future of the industry? 

It is a bright future when more people come. 

they will throw more capital into the business 

and make the business more competitive and 

tough and they will raise the barrier to entry 

which is good because they are coming with 

a lot of capital. So it will take the industry 

to a different level. So I don’t see any thing 

negative in that. 

The foreign players, are they in any way 

a threat to the local players ? 

I think we will all co exist together. It will not 

be easy except if we too are very lazy but at 

the end of the day, the consumer will get a better 

product because there will be competition but 

if the local players are not up to it, okey that is 

their own challenge. And if they don’t do the 

business very well, that is their headache 

all these things are just for me looking at 

the consumer, because if you are buying 

any insurance product now, you are buying 

it from a local or foreign company what 

do you care for when you have a claim, 

your claim is paid,is that not what you 

care for? that is what matters, also there 

will be regulation and the regulators will 

like to make sure that people play by the 

books.It is good for us to develop strong 

local companies because our companies can 

also go abroad and be champion abroad 

but we should get there but is not just by 

saying we want to play because you are 

a Nigerian you must do it properly, you 

must have a structure and build a good 

company is possible but not just by fiat, 

you must do your product very well respond 

to people very well. Leadway used to be 

a company in Kaduna before we started 

from the north, we were local company in 

the north in Kaduna but we came here,we 

have to prove ourselves to also exist here 

and be accepted in the market here.So be it 

local, be it international be it anything you 

must serve the people properly, you must sell 

your product so well that they will believe in 

you and deliver good service that is the only 

thing that will take you there.


BUSINESSWORLD 

33 

INSURANCE 

Honeywell’s 

VOP Process 

Technology 

to Run 

Dangote Oil 

Refinery 

UOP LLC, a Honeywell company, 

has said that its process 

technology, catalysts and 

proprietary equipment will form 

the basis for the largest refinery 

in Africa, reducing Nigeria’s 

dependence on imported fuels 

and petrochemicals. 

According to a release, 

Dangote Oil Refining Company 

selected UOP technology for a 

world-scale integrated refinery 

and petrochemical plant to be 

built in Lekki, near the capital of 

Lagos in southwestern Nigeria. 

Nigeria has the second-largest 

amount of proven oil reserves 

in Africa – an estimated 37.2 

billion barrels, according to Oil 

& Gas Journal. 

However, Nigeria currently 

imports most of its refined 

product requirements due 

to lack of domestic refining 

capacity. 

“UOP has been designing 

state-of-the-art refineries and 

petrochemical plants for more 

than a century, so we are 

well-equipped to help Nigeria 

develop a massive new installation 

to meet its domestic needs,” 

said Pete Piotrowski, senior vice 

president and general manager 

of UOP’s Process, Technology 

and Equipment business. “This 

project will enable Dangote to 

improve Nigeria’s oil refining 

capabilities, reduce the country’s 

dependence on imports, and 

work to revive and transform 

the Nigerian economy.” 

The Dangote Group is the 

largest industrial conglomerate 

in West Africa and one 

of the largest in Africa. The 

company has a number of 

interests, including cement, 

real estate, oil, natural gas, 

telecommunications, fertilizer 

and steel. The Group focuses 

on local, value-added products 

and services that meet the needs 

of the African population. 

In addition to processing 

crude oil to produce highquality 

gasoline, diesel and 

jet fuel that meet Euro V 

specifications for reduced 

emissions, the new facility will 

produce world-scale quantities 

of polypropylene, a key 

petrochemical used in plastics 

and packaging. 

UOP technologies at this 

facility will include: The UOP 

Resid Fluid Catalytic Cracking 

process to produce transportation 

fuels from crude oil. It will 

also supply propylene, which 

will be used as a feedstock for 

polypropylene; the CCR Platforming 

process to produce 

high-octane gasoline blending 

components; the Unicracking 

process to produce diesel; the 

Penex process to produce 

high-octane gasoline and the 

crude distillation unit (CDU) 

design, which will be provided 

by UOP’s alliance partner, 

Process Consulting Services. 

In addition to technology 

licensing and design services, 

the UOP organisation is working 

with Dangote Oil Refining 

Company to provide catalysts, 

adsorbents and proprietary 

equipment for the project. 

Premium Pension Records N1.77 

Billion Profit 

Ebere Nwoji 

Premium Pension Limited, 

one of the leading pension fund 

administrators in Nigeria, has 

announced a profit after tax 

of N1.77billion for the year 

ended December 31, 2014. 

This represents eight per cent 

increase from the previous year’s 

profit of N1.652 billion. 

Announcing this at the 

company’s 10th annual general 

meeting (AGM) held in Abuja, 

Chairman of the company, 

Aliyu Dikko said during the 

year under review, the turnover 

for the company grew from 

N4.226 billion to N5.252 billion 

representing a growth of 24.28 

per cent. 

He said the company’s profit 

before tax grew from N2.351 

billion to N2.609 billion, signifying 

a growth of 10.97 per cent , 

while profit after tax grew from 

N1.625 billion to N1.766 billion. 

He said the above impressive 

performance is a reflection 

of the various strategies the 

company had adopted and 

the commitment of the board, 

management and staff in ensuring 

that new businesses were 

won and existing customers well 

served through the delivery of 

superior customer service. 

He said despite the declining 

employment opportunities 

that had negatively impacted 

on the company’s business 

generation drives, Premium 

Pension Pension has expanded 

its horizon in terms of funds 

under management and number 

of Retirement Savings Accounts. 

“As at December,2014 the 

company has several Funds 

Under Management (FUM), 

namely; Active RSA fund, 

Retiree RSA fund, CBN active 

and CBN Retiree fund, NNPC 1 

& 2 fund UBN fund, SEC fund 

and FBN fund. Other funds 

under our company’s management 

include Jigawa State fund, 

NDIC fund, Intercontinental 

fund, Lagos Chanel Mgt fund, 

Rivers State fund as well as 

Niger state Legacy fund.” 

He also said that the company 

had maintained robust relationship 

with existing institutional 

clients and is tirelessly working 

towards establishing new 

relationships. According to 

him, the assets and income 

for the company witnessed 

significant growth during the 

year despite stiff competition 

and macroeconomic instability. 

He disclosed that the number 

of RSAs registered by the 

company both in the public 

and private sector organisations 

increased from 613,449 

contributors as at December, 

2013 to 662,628 in 2014. 

According to the Premium 

Pension boss, out of the total 

RSAs, 514,446 were funded 

while 148,162 were still being 

persuaded for funding. 

He said the consolidated 

portfolio as at December 31, 

2014 had a net asset value of 

N367.768 billion as against 

N323.427 billion that had been 

reported in December, 2013. 

“This has resulted in a growth 

of 13.69 per cent. The RSA (active) 

fund which as at December 

31, 2013 had a net asset value 

of N219.288 billion closed the 

year 2014 with N268.198 billion 

signifying a growth of 22.30 per 

cent, “ he stated. Continuing on 

the performance of the company 

during the year under review, 

Dikko said.

34 

THISDAY • WEDNESDAY MAY 20, 2015 

EDUCATION 

‘Edwin Clark Varsity will Impact Community, 

Produce Well Equipped Youths’ 

Edwin Clark University, Kiagbodo, Delta State, the 60th private university in Nigeria, 

which was recently issued an operating licence by the National Universities Commission 

(NUC), will soon open its doors to students. Some of its top management staff, including 

the Vice-Chancellor, Professor Timothy Olagbemiro, told Funmi Ogundare that the 

institution is poised to add value to its community and make the youths better equipped 

for global challenges 

The Edwin Clark University, Kiagbodo, 

Delta State was founded by one of 

Nigeria’s elder statesman and politician, 

Chief Edwin Clark, who served 

as Commissioner for Education under 

the Brig. Samuel Ogbemudia administration in 

the old Bendel State. He was also one of the 

first architect of the University of Benin, when 

it began as Mid West Institute of Technology 

(MIT) then. 

At the initial stage of the formation of the 

MIT and its conversion to University of Benin, 

Clark combined his duties as commissioner 

for education and pro-chancellor of the newly 

created university. Years later, he served as 

pro-chancellor of the Federal University of 

Technology, Minna. His interest in university 

education is not therefore new. This no doubt 

motivated him to set up the institution as a 

legacy to humanity. 

The institution, located in his hometown, 

Kiagbodo, along with Hezekiah University, 

Abia State, were issued operation licenses by 

the NUC on May 7, 2015. Plans are underway 

for it to commence academic programmes in 

two faculties, containing 10 departments and 

15 undergraduate programmes in the first year. 

The faculties approved for Edwin Clark 

University are; Faculty of Science, Humanities, 

Social and Management Sciences, Faculty of Law, 

Engineering, Agriculture, Medicine, Environmental 

Sciences, Arts as well a Postgraduate School. 

According to the Vice-Chancellor, Prof. Timothy 

Olagbemiro,“the NUC team had visited here 

twice; they came in December 2013 for the 

first time and in February, 2014, they came 

here for the final visit to see our facilities. They 

had some checklist to ensure our compliance 

with the NUC set standard. 

“I got involved as vice-chancellor designate 

in the entire process as a member of the Project 

Implementation Committee (PIC) headed by 

Professor Sam Igun, a former Vice-Chancellor of 

Delta State Univerity; Ambassador Clark, retired; 

two eminent professors from the University 

of Benin, and other distinguished academics 

from Ekpoma, Otueke, a retired professor 

and librarian, registrar and deputy registrar 

designate. Chief Clark himself served in the 

PIC as Founder. We got our structures, facilities 

as well as our academic brief along with our 

master plan ready way before their final visit, 

just before the election. 

“We worked assiduously along with the 

founder’s son, Chief Ebikeme Clark, the Foundation 

Secretary, Miss Dorothy Charles-Koko both 

of who were instrumental to ensuring that the 

structures were in place and well funded. We 

had several sleepless nights, just to ensure we 

met a targeted date. 

Olagbemiro described Clark as a hard working 

man, who never gives up. “He wants results, 

and will put all in him to getting it. He was 

constantly in communication with us in the 

field, and occasionally joined us in Kiagbodo. He 

led the PIC extremely well, and this accounted 

for its success.” 

On the institution’s set objectives, Olagbemiro 

who served successfully for 10 years as Vice- 

Chancellor of Bowen University, Iwo, Osun 

State, said although Edwin Clark University is 

not located in a cosmopolitan city, Kiagbodo is 

ideal for true learning and for the development 

of young minds who would make the state 

and country proud. He expressed hope that 

students yearning for quality education would 

appreciate the thoughts of the founder, as well 

A section of Edwin Clark University Science laboratory 

as the foundation in locating the institution in 

Kiagbodo. 

“We note here the impact of pollution, land 

degradation, ecological disruption common to 

this zone, it is planned that Edwin Clark will 

mount vital courses in environmental studies, 

oil and gas, as well as on land reclamation. Such 

courses will be run with our link institution, 

Coventry University, UK. 

We believe these will be useful to this community, 

the quality of life of the community, as 

well as value added to nation building. Generally, 

the university is set to explore the minds of 

the youths and add value to the community 

that had been for long neglected.” 

Asked if the institution has put in place the 

required human capital to run effectively, he said, 

“university business is capital intensive, you 

must have people who are credible and know 

what they are doing, as well as people who are 

forthright and honest in what they are doing. 

We were able to locate some professors that 

will serve as deans, and heads of departments, 

from several institutions. These would assist 

in our initial take-off at this stage. Indeed, we 

have been working with these people in the 

last one year. We have already advertised to 

source for staff where we don’t have enough.” 

The vice-chancellor reiterated that the goal 

of any institution is to be best in all areas 

of endeavors such as teaching, research or 

community service, adding, “Rome was not 

built in a day. Slow and steady wins the race; 

I experienced it work. I had this experience at 

Bowen before; we have got to build up our 

capacity and manpower to ensure that it works 

here too.” 

On his view about the quality of graduates in 

some Nigerian institutions who many employers 

have said to be unable to defend their certificates, 

and what could be responsible for the academic 

laxity in Nigerian universities, Olagbemiro said, 

“If you bring students in and give them poor 

curricular, by the time they graduate they bring 

about poor output. 

“It’s like in-flow, it must be good enough so 

that your outflow can be good. That is the key 

which our institutions must imbibe and enforce. 

We want to ensure that staff members that are 

employed into the system are brilliant, smart, 

innovative, good mentors, good researchers and 

good teachers. They must be people who take 

interest in their students and make impact in 

the lives of students academically, socially and 

spiritually. He stressed that “if you bring in 

garbage as teachers, you will surely produce 

garbage graduates who are poor in every aspects 

of their vocation. They will not be able to read 

or write. The kind of staff you bring in and the 

curricular you have are very essential. 

“The NUC operates a Benchmark Minimum 

Academic Standard (BMAS) system to perform 

very well and steady above the minimal 

standard, we have to get staff who are good 

in their approach on how to teach and what 

to teach. We want to ensure that we have a 

good curricular and stalk quality way above 

the BMAS of NUC. At Edwin Clark, we will 

look for good staff and pay them well so that 

they can compete favorably. If you pay them 

poor salary, they will give you poor standard. 

It’s garbage-in, garbage-out.” 

Olagbemiro’s reaction to the proliferation of 

universities and its attendant problems was: 

“The number of available spaces for the teeming 

populace seeking admission into Nigerian 

universities is far too small compared to those 

seeking admission.” 

While appealing to the NUC to enable the 

university commence its Law Faculty, as it has 

all facilities in place such as three lecture rooms 

with capacity for 80 students each; Law Faculty 

Library; Law Faculty e-Library; Moot Court; 

Law Auditorium to sit 250 students; deans and 

lecturers’ offices adequate in number; extensive 

law books with various online references and 

indexing, he expressed hope that the institution 

would get students that are capable of making 

it proud within and outside the country in the 

next 10 years. 

The Dean, Faculty of Humanities, Social and 

Management Sciences, Prof. Patrick Osiegbu, 

said most of the facilities for take-off are ready, 

adding that the institution has developed 

academic programme showing the course 

structure, description and requirement from 

NUC and other professional associations. He 

expressed hope that the university would boost 

intellectual population from other states. 

“We have plans to run pre-degree programmes 

to encourage those who are not able to get 

the number of required credits to be admitted 

into year one.” 

The don stressed the need for parents and other 

stakeholders to be committed to the development 

of education, adding that the private sector 

could participate by giving grants to universities 

and sponsoring professorial chairs to improve 

academic standards. 

“The private sector should not seclude itself 

from intellectual development, it is not the best 

for the nation.” 

The institution’s Librarian, Dr. Stephen Osiobe, 

who has practised for over 30 years, expressed 

concern that “the reason we are not producing 

good graduates is because the foundation from 

the primary school is weak. The reading culture 

is something one must grow up with so that 

he/she can have value for the printed word. 

We are living in a society where visuals have 

become dominant. The multi-media dominance 

in modern society has made youths not to spend 

much time to read.” 

He said the institution has a digital library 

to enable staff and students access reading 

materials, books and journals of publishers 

and other academic proprietary bodies that 

have database.” 

Explaining the process that led to the issuance 

of the license, the Registrar, Chief Rosalyn 

Egborge said, “I was at JAMB office in Abuja 

to register the new university to request the 

board to place application for the selection of 

candidates. The registrar of JAMB acted promptly 

and instructed the relevant directors to attend 

to the institution’s request. 

“We were quite ready as at last year, but 

the NUC wanted us to show all the facilities. 

The work of the registrar is very challenging 

as one has to drive all the processes that make 

the university what it is.”


35 

EDUCATION 

Lagos Students Develop Ideas to Solve 

Social Problems 

Uchechukwu Nnaike 

Students of Government 

College, Ketu, Epe, who 

represented Education District 

3 in the Spirit of Lagos School 

Challenge have emerged the 

overall winner of the competition, 

which encourages students 

to develop ideas to solve some 

of the social problems they face 

in their communities. 

The competition was keenly 

contested by secondary schools 

from the six education districts 

in the state. 

Their presentation centered 

on the need for people to 

imbibe the maintenance culture 

as a habit to protect private and 

public infrastructure around 

them. They developed the ‘Save 

Our Treasure’ (SOT) and ‘Do 

it Yourself’ (DIY) slogans to 

drive the maintenance culture 

among students. 

The team from Community 

Senior Grammar School, 

Gberigbe, representing District 

2, came second with its project 

tagged ‘Wipe out Dirt and Litters 

from CSGS Community’; 

while Ifesowapo Aboru Senior 

Secondary School, Alimosho, 

representing District 1 came 

third with the project tagged 

‘Converting Waste to Wealth’ 

through a device for heating 

up waste products such as 

plastics and cellophane to 

produce crude oil. 

Other schools that participated 

were Ajara Senior and 

Junior Secondary, Badagry; 

Agidingbi Senior Secondary 

School, Ikeja, among others. 

Speaking at the grand finale, 

the Deputy Governor of the 

state, Mrs. Adejoke Orelope- 

Adefulire, called on secondary 

school students in the state to 

fully embrace the initiative, 

which she said is in line with 

the state government’s efforts to 

ensure the overall development 

of various communities in 

the state. She said it would 

reawaken in the students the 

spirit of patriotism, which is 

the hallmark of development 

in any community. 

“The Spirit of Lagos’ School 

Challenge is a noble idea as 

it seeks to stimulate in the 

secondary schools students 

across the state the desire to 

proffer solutions to the social 

problems facing their communities. 

It is indeed a laudable 

step towards inculcating the 

right attitude to leadership 

in the younger generation.” 

Adefulire added that no 

society that neglects its leaders 

of tomorrow can be said to 

be heading towards a greater 

future, saying that the current 

administration in the state 

has invested so much in the 

future of youths in the state 

in terms of infrastructure and 

educational support. 

While commending teachers 

for assisting the students in 

developing their proposals, 

the deputy governor said, 

“the Lagos State government 

is working assiduously to 

empower the teachers so that in 

return, they can bequeath the 

right knowledge and morals 

in the students.” 

She also enjoined the 

students to see themselves 

as ambassadors of the state 

and charged them to imbibe 

the true Spirit of Lagos, which 

she described as “the love that 

binds us together”, by obeying 

all laid down rules and 

regulations in their schools, 

homes and the larger society. 

In her remarks, the General 

Counsel to the Governor, Mrs. 

Oyinkan Badejo-Okusanya, 

thanked the participating 

schools for their continuous 

efforts in lifting the ‘Spirit 

of Lagos’ higher by striving 

to complement the state 

government’s efforts towards 

making the state a place 

for all. 

The Project Director, Olaniyi 

Omotoso, congratulated the 

schools for their excellent performance 

and described them 

all as winners for proposing 

projects that would help in the 

development of their schools. 

LBS Opens Applications 

for Young Talent 

Programme 

The Lagos Business School 

has kicked off applications 

for this year’s Young Talent 

Programme (YTP), aimed at 

honing the research skills and 

career prospects of brilliant 

Nigerian youths. 

Scheduled for July 31, the 

2015 edition of the one-day 

programme, like last year’s, will 

offer successful candidates research 

scholarship opportunities 

and build a pipeline of future 

LBS faculty and administrative 

staff. The application process 

will terminate on July 4, 2015. 

According to the Faculty Lead 

on the programme, Dr. Uchenna 

Uzo, “as with the maiden 

edition of the YTP, this year’s 

programme will bring talented 

youths to LBS where they will 

receive first-hand information 

from experts on the modalities 

for starting an LBS career in 

academics or administration.” 

Uzo said there would be 

resource persons from the 

school’s administrative unit, 

while successful past participants 

would be available to share their 

work life experiences at LBS. 

The YTP is open to second 

year undergraduates and 

above, including MSc holders 

and corps members (not older 

than 30 years) with a first class 

or second class upper honours 

degree. 

A total of 45 candidates participated 

in the programme last 

year, six of whom have already 

been selected for faculty training 

at the school’s Management 

Scholarship Academy (MSA) 

and one as a doctoral candidate. 

Meanwhile, two successful 

participants from the maiden 

edition of the YTP admitted 

that working with LBS has not 

only met but surpassed their 

expectations. Jude Adigwe, 

currently a research assistant, 

recommended the programme 

to prospective candidates who 

wish to commence their career 

in an environment where professionalism 

and ethics are the 

watchwords. 

“I think new intake will derive 

immense benefits participating 

in the programme, which will 

give them the opportunity to 

see professionalism and ethics 

at work. The previous edition 

of the YTP brought me into the 

system and I am convinced it 

has lived up to its billing.” 

For Christian Reuben, another 

participant who currently works 

as a researcher at LBS, “the 

YTP is a very useful tool 

for young people looking to 

network with likeminded 

people, move forward in their 

various endeavours and know 

a bit about how LBS can help 

them realise their aspirations.” 

National Spelling Bee 

Winner Set for US Trip 

Deafening cheers and applause 

recently enveloped the NECA 

Hall, Ikeja, Lagos, as Onyinyechi 

Ohuabunwa of Cherry Field 

College, Jikwoyi, Abuja was 

declared winner of the 2015 

National Spelling Bee Competition, 

defeating 44 other finalists 

to clinch the star prize of a 

Virgin Atlantic return ticket to 

the 88th Scripps Spelling Bee 

Competition in the US, as well 

as a N200,000 cash gift from 

Beta Malt along with other 

goodies from the company 

and Indomie Noodles. 

Miss Iyioluwa Ebojin of Ladela 

Schools, Wuse II, Abuja and 

Anita Igboka of Gudmerc High 

School, Abuja who emerged the 

second runners-up were also 

excited that they could go that 

far as they were also rewarded 

for their efforts. Ohuabunwa, 13, 

expressed delight at emerging 

the winner, saying “honestly, 

I never thought I would win. 

I am in shock. I thank God, 

my parents, my school, my 

teachers and the organisers. I 

am most grateful. I still can’t 

believe I won.” 

It was a challenge getting 

the 15 finalists from each of 

the participating states, FCT 

Abuja. 

EDUCATION SUPPORT 

L-R; Editor, School Tips and More Magazine, Mrs. Flourish Ayowale Ezekiel; Managing Director, Edumark Consult, Mrs. Yinka Ogunde; and 

Representative of Chips, Bit and Bytes, Mr. Ogunfatimi Oluwaseun , during a press conference at Edumark 7th Total School Seminar and Exhibition 

(TOSS held ...recently 

sunday adi gun 

Chevron Donates First Hybrid Library to Ondo School 

James Sowole in Akure 

In pursuance of its Corporate 

Social Responsibility (CSR), 

Chevron Nigeria Limited has 

donated an electronic library 

to Ilaje High School, located at 

Igbokodan, the headquarters of 

Ilaje Local Government Area of 

Ondo State. The library, built 

within three months in the 

35-year-old school, is the first 

ever in any government-owned 

secondary school in the state. 

The project specifically built 

by Texaco Nigeria Outshelf, a 

Chevron Company operators 

of OML 132 and the Nigeria 

National Petroleum Corporation 

(NNPC), was equipped with 

21 computer sets, 25KVA 

generator, books, journals, 

modern conveniences, a bore 

hole and other facilities. 

At the commissioning of the 

project, witnessed by senior 

officials of the company, top 

officers from the state ministry 

of education, Chevron said 

it’s commitment to ensuring 

improved standard of education 

in the country is unwavering. 

The Director Deepwater and 

Productive Sharing Contracts 

(PSC), Jeffry Ewing, said the 

company believes education is 

the key to national and societal 

development, as it unlocks the 

potential of the people especially 

youths, and galvanises them 

for positive development. 

Ewing was represented by an 

old student of the school who 

is currently the Manager Communications, 

Policy, Government 

and Public Affairs, Adesola 

Adebawo. Adebawo was part 

of the 1985 set of the school, 

which was the second set. 

The director said the company 

is committed to education 

development as one of the 

thematic areas in its social 

performance programmes. 

Ewing pointed out that 

the company’s support for 

education in the country 

includes scholarship schemes 

for secondary school and 

university students every year; 

development of new schools and 

teachers’ residence; provision 

and equipping of educational 

facilities and upgrading of 

laboratories and research centres. 

He said the donation of the 

hybrid library “is another indication 

of our determined efforts 

to support the schools in books 

resources and technology, as 

well as improve the education 

sector in Nigeria.” 

He advised the students and 

teachers of the benefiting school 

to put the facility into good use 

and ensure proper maintenance 

so that the investment would 

not become a waste. 

Also speaking, the Group 

General Manager of the 

National Petroleum Investment 

Management Services 

(NAPIMS), Jonathan Okehs, 

said the organisation is happy 

to collaborate with Texaco and 

other stakeholders to sponsor 

projects that would lead to 

qualitative education. 

Okehs, who was representes 

by a Supervisor, Community 

Relations, Mrs. Helen Nkwo, 

said “we know that education is 

not only an instrument of social 

change but an investment in 

national development. 

“The library is borne out of a 

deliberate efforts by the NNPC 

and Texaco Nigeria Outer Shelf 

Limited to intervene in human 

capital development- a critical 

sector of the company. 

“We believe the effort 

will augment the Federal 

Government’s Millennium 

Development Goals (MDGs) 

programme and help provide 

the needed manpower for the 

development of the country. 

The Ondo State Commissioner 

for Education, Jide Adejuyigbe, 

said the commissioning of the 

hybrid library was unique being 

the first of its kind in public 

schools in the state 

Adejuyigbe regretted that 

one of the major challenges 

confronting education is inadequate 

modern library facilities 

which has negatively affected 

the performance of students. 

He urged development partners, 

philanthropists, corporate 

Organisations, religious bodies, 

old students and other wellmeaning 

individuals in the 

society to emulate Chevron in 

developing the education sector. 

Speaking through the Director 

of Planning and Research, Jide 

Ogundolire, the commissioner 

advised the students to use the 

facility to expand their body 

of knowledge. 

The Managing Director of 

Abey Coast Nigeria Limited, 

Abiye Adeyemi, said the project 

was completed within three 

months with zero per cent 

mobilisation to the company 

by Chevron. Adeyemi said the 

modern facilities which is the 

first of its kind would motivate 

the students in preparing for 

external examinations.

36 


EDUCATION 

LearnAfrica Trains 

Teachers of Core Subjects 

Peace Obi 

Inspired by the fact that the attainment of 

any nation’s educational goals depends 

largely on the quality of its teachers, 

LearnAfrica Plc, publishers of educational 

and instructional materials recently 

organised a one-day workshop titled 

‘A New Beginning in the Teaching and 

Learning of Mathematics and English 

Language’, for select primary school 

teachers in Lagos State. 

The workshop, which had specialists in 

the subjects of focus as resource persons, 

was designed to empower teachers handling 

core subjects such as English Language and 

Mathematics to improve their effectiveness 

in teaching, as well as expose them to 

some new teaching techniques that will 

make the learning of these subjects easier 

for the students. 

It was also meant to provide update 

for teachers and school administrators on 

the new curriculum that was introduced 

last September, as well as the presentation 

of some of the new books the publishing 

outfit has come up with in response to 

the requirements of the new curriculum. 

The Managing Director, Mr. Segun 

Oladipo, said the workshop was one of 

the company’s initiatives at improving the 

teaching skills of the teachers drawn from 

public and private schools in the state. 

“This is the first in the series for this 

year; this workshop will take place in 

other selected locations like Ibadan, 

Owerri, Abuja, Zaria and Jos within the 

next one week. 

“It is one of our initiatives to support 

teacher education so that they can 

sharpen their skills and acquire additional 

knowledge that will empower them to 

improve their effectiveness in teaching, 

make learning more interesting for the 

students.” Oladipo, who commended 

the state government for its massive 

investment in education, said the state 

has demonstrated its strong believe in 

using education as a tool for development. 

Declaring the event open, the Commissioner 

for Education, Mrs. Olayinka 

Oladunjoye, represented by the Director, 

Research and Curriculum Department, Mrs. 

Joy Ojei, said for the newly introduced 

curriculum to be fully put into use, a lot 

of work has to be done. 

“With the new curriculum we have 

now, we have a lot of things to do, 

particularly in the primary section. I am 

happy that LearnAfrica is carrying out 

this workshop because it means before 

our next book review we would have 

the materials like books to work with 

as regards the new curriculum.” 

She assured the participants of being in 

safe hands, saying that given the state’s 

long dealings with the publishing outfit, 

it has been adjudged a good and reliable 

partner as far as education is concerned. 

She also advised them to find a way 

of replicating what they learnt in their 

various schools. 

The Director and Head, South West 

Zone, Nigerian Educational Research 

and Development Council, Dr. Moses 

Salau, said the curriculum review became 

necessary as the old one could no longer 

serve the country’s educational needs, 

as well as the need to make it remain 

globally competitive. He added that the 

curriculum change is aimed at dealing 

with the issues of illiteracy by initiating 

such educational policy that would make 

Nigerian children, irrespective of their 

gender or the socio-economic status of 

the parents, have access to education 

without an option of dropping out of 

school within the first nine years. 

“With the basic education programme, 

when a child enters primary one, he/ 

she is not allowed to drop out until 

he/she spends the first nine years in 

school. And it is a criminal offense to 

allow a child drop out of school. 

“A child must spend a minimum of 

nine years in school because we want to 

tackle the basic problems of illiteracy. We 

want to have an educated hairdresser, 

educated driver, tailor, educated gardner.” 

Don’t Let Reading Die! 

•Our world is gradually moving away from books and 

reading and firmly endorsing computer monitors and 

television screens over and above reading. The importance 

of developing a passion for reading cannot be overlooked. 

Reading is a habit and should be established when the child 

is relatively young. What then can parents do to foster 

this habit? 

If your’re a new mum, read and sing to your child while he/ 

she is still in your womb. Scientific research has shown 

that this contributes to children’s language development. 

Read stories, rhymes, poems to your children while they 

are babies, toddlers and young children. There are specially 

written books for children of all ages. 

This way you’d be initiating children into the world of 

books and reading. Your little ones could repeat words 

and sentences after you; answer simple context based 

questions; make simple predictions on the text and even 

summarise the story. 

There are excellent well graded reading books available in 

bookshops today.They are structured to help your children 

go from simple words and contents to more challenging 

texts. 

Enroll your child for reading classes to take the burden off 

you and widen their horizon. There are many well structured 

reading classes and software that aim to draw children 

back to books. They help children with diction, idioms and 

phrases. For younger children, these classes can be fun 

with animated characters and pictures. Illustrated picture 

books, rhymes, silly songs and pretend stories all attract 

the younger child. Use creativity to capture your child’s 

vivid imagination. 

Identify and explore your child’s interest. Respect your child’s 

genre preferences. If your child has a favorite character, 

pick a series of books that feature this character. For your 

son, it may be Spiderman, Tror, Captain America, Iron-man 

while for a girl, it may be Scarlet Witch, Barbie, Black Widow, 

Annabel, Hanna Montana and so on. 

It would be a great idea to build a home-library. A skill like 

reading cannot be learnt in isolation. Do not leave all the 

hard work to the school programme. Pick up books that 

you think your child would like. The internet is also a rich 

resource of reading games that would attract little children 

to reading. 

Omoru writes from the UK 

Firms Inaugurate Digital 

Classroom to Boost Learning 

L-R: Mr. Bode Benard Guest, Managing Director Brand Optimal, Mr. Otis Ojeikhoai, and Chairman, Ridos House Montgomery School Mr. Dave 

Akharume, during the first Inter-house sports competition of the school, held recently 

Anambra Emerges Zonal Winner of NNPC Quiz Contest 

Benjamin Nworie in Abakaliki 

Anambra State has emerged the overall 

zonal winner of the 2015 NNPC National 

Quiz Competition held in Abakaliki, 

Ebonyi State, and will represent the 

zone at the national quiz competition 

which will hold in Abuja later in the year. 

Anambra pulled a total of 55 points to 

defeat other schools from Enugu, Abia, Ebonyi 

and Imo States in a keenly contested 

quiz contest in English Language, Physic, 

Biology, Chemistry and Mathematics. 

The breakdown showed that Anambra 

got 55 points, Imo 45 points, Ebonyi and 

Enugu got 40 points each while Abia got 

30 points. Speaking at the end of the 

competition, the National Coordinator 

of the programme, Mr. Olutago Sanni, 

said NNPC is paying attention to the 

national quiz competition because “we 

see it as an instrument for enhancing 

science education in the country.” 

He expressed hope that the exercise 

would further coach students towards 

their promotion and qualifying examinations, 

build friendship among them and 

enlighten students and the public on 

NNPC’s activities. 

According to Sanni, the feedback it 

received showed that the the objectives 

have already been met, adding that 

more students on NNPC’s scholarship 

are graduating with distinction and 

impressive results. The acting Group 

General Manager, Group Public Affairs 

Division, NNPC, Mr. Mbajiogu Nicholas, 

added that apart from the school quiz 

NNPC carries out other development 

prwogrammes such as provision of 

social amenities, infrastructure projects, 

scholarships, enlightenment programmes, 

reaching out to the needy, employment of 

young graduates and experienced hires 

into the system. 

Ridos House Holds First Inter-house Sports 

Ridos House Montessori School, Lagos 

recently held its maiden inter-house sports 

competition at the LASU Museum Centre 

with pomp and excitement. 

After a keenly contested competition 

among the pupils who were grouped 

into four houses, Emerald/Green, Topaz/ 

Yellow, Coral/Red and Sapphire/Blue, 

Topaz House emerged winner with 12 

gold, four silver and five bronze medals. 

Emerald House came second with nine 

gold, 13 silver and six bronze medals, 

while Coral House came third with six 

gold, 11 silver and seven bronze medals. 

The competition featured track events 

like 15m, 50m, 75m, 100m and 200m 

races, picking the balls, invited school 

race, filling the bottle, sack race, relay 

race, parents’ race, staff race, march 

past, among others. In her remarks, 

the Managing Director of the school, 

Mrs. Toritseju Akharume, said academics 

and sports education complement each 

other, adding that physical activity is vital 

to the holistic development of young 

people, as well as fosters the physical, 

social and emotional health. Akharume 

said within school, physical education 

is an essential component of quality 

education, adding, “not only do physical 

education programmes promote physical 

activity, such programmes also correlate 

to improve academic performance under 

certain conditions, while sports can also 

under the right conditions provide health 

alternatives to deviant behavior. 

Funmi Ogundare 

Robotel Incorporated, Canada, in 

partnership with Topteck, recently 

inaugurated its Smart Class, a 21st 

century digital classroom and 

language laboratory management 

solution, designed to enhance 

teaching and learning in schools. 

Speaking at the town hall 

meeting with stakeholders in 

Lagos, the Executive Director, 

Robotel Incorporated, Mr. Yanick 

Demers, expressed hope that the 

initiative would help fill the gap 

where schools are facing challenges. 

“We can leverage on the potential 

of the technology in order to benefit 

schools”, he said, adding that over 

the past 30 years, his organisation 

has developed computer classroom 

laboratories with more than 10,000 

systems installed in more than 75 

countries around the world and 

how ICT had been able to impact 

education and empower teachers 

with the right tools. 

He recalled how he met its 

partner, Toptek, represented 

by its Managing Director, Mr. 

Babatunde Olusanya, saying, 

“last year, Olusanya came to see 

us in Canada. Over the past 15 

years, I received many potential 

partners; none of them was as 

convincing as him. He came with 

a plan, describing the needs of the 

education sector in Nigeria, and 

how Robotel and Topteck could 

work together. 

“He obviously described the 

many challenges of introducing 

new educational technologies 

in Nigeria. But he showed me 

passionately that he had a clear 

vision about the development of 

ICT for the education sector.” 

In his remarks, Olusanya described 

Robotel as an organisation 

of integrity, saying that their aim 

is to deliver products to schools 

and provide students the platform 

to work at any time and at their 

own pace with the technology. 

“We have the opportunity to 

increase the level of teaching for 

students to practice intensively 

and develop their skills in the 

language laboratory. 

The platform is world acclaimed 

and so far institutions 

like Adeleke University, Osun 

State, Redeemers University, Ede 

and Babcock University, Ilisan 

Remo, Ogun State have bought 

into the idea.” 

The Dean, Faculty of Arts, 

University of Lagos, Prof. Abayomi 

Akinyeye, said since the world 

is becoming a global village, the 

teaching and learning of languages 

has become imperative, adding 

that the language laboratory has 

become the mean to interact with 

a larger classroom digitally. 

He congratulated Robotel for 

identifying the crucial areas of 

intervention in institutions.

THISDAY • WEDNESDAY MAY 20, 2015 37 

Stakeholders Advocate Compulsory 

Study of French in Higher Institutions 

Adibe Emenyonu 

in Benin City 

Stakeholders in the education 

sector have called for the adoption 

of the French Language 

as a compulsory course in the 

general studies programme of 

universities, polytechnics and 

colleges of education. 

They said its importance 

include creating more job 

opportunities for graduates 

of various disciplines, as well 

as the reduction in the rate of 

unemployment in the country. 

This was the outcome of the 

second biennial international 

conference of the Department of 

Foreign Languages, University 

of Benin, held recently. 

The convener, Prof. Raymond 

Elahor, in a communique, 

harped on the vast opportunities 

in the study of 

French Language, calling 

on the federal government 

to implement the UNESCO 

policy to which Nigeria is a 

signatory, which urged the 

government to allocate at 

least 26 per cent of its annual 

budget to education. 

Elahor, who disclosed that 

the curriculum of polytechnics 

should include French 

Language, added that doing 

so would make their graduates 

function properly in the 

sub-region where French is 

the dominant language. 

“To actualise the current 

government policy that 

makes French Language 

compulsory from primary to 

junior secondary level, the 

federal government should 

immediately set up a special 

programme for the massive 

training of French teachers 

to be deployed to that level. 

“In view of the extreme 

importance of French as the 

second official language in 

Nigeria, first class graduates 

of French should benefit from 

the current federal government 

policy of awarding 

automatic scholarships for 

postgraduate studies in 

selected disciplines which 

should be tenable in France 

and/or other francophone 

countries,” Elahor said. 

FOR QUALITY EDUCATION 

L-R: Communications Manager, MeadowHall Group, Ronke Fasalojo; Head, MeadowHall Foundation, Kemi Adewale; Chief Executive Officer, MeadowHall 

Group, Kehinde Nwani and Head, MeadowHall Education, Ola Opesan, during a media parley on MeadowHall Group’s activities in Lagos...recently 

Meadow Hall Repositions for Quality Education Delivery 

RUNNING 

the 

CLASSROOM 

EDUCATION 

CHIOMA ERUOTOR 

chisandic@yahoo.com 

End the School Year with a 

Bang 

I often see myself as a basket, the liquid filters through 

for purification. As I looked at my school photos over the 

years, I consider myself very lucky individual to have all these 

wonder children pass through me in their journey of life. 

Every new school year in September, a teacher’s door, mind, 

heart and arms are open wide to accept the new blessings 

and challenges that come his/her way. No set of children 

will ever be the same. As I receive a new set, I often wonder 

about the previous, how they are getting on without me 

and if I will be able to get over them too. 

A teacher only has 11 months to spend with his/her new 

found children, so as I often say to teachers, they should 

make those eleven months the best eleven months of their 

lives as they will leave you and move on to the next. 

Build relationships and memories that will last a life time. 

Set milestones and cross the academic hurdles that are set 

before the children. Be a motivator, a counselor, a doctor, 

an aunt, a brother, a sister, a best friend, a mum, a dad and 

above all, a teacher. 

As the school year gradually draws to an end, it is of utmost 

importance to look back and reflect on the academic year 

that was, and evaluate the work that you have done. 

Reflect on the level the children were when they first 

started the school year with you, and the level they are 

now and see if there is a progression in their levels. Aside 

from the academics, we are also responsible for teaching 

them moral values. The busy world in which parents and 

care givers find themselves today, gives little or no time 

for a personal relationship with children. More often than 

not, the teacher knows the children more than the families, 

hence families are looking up to the school and the teacher 

for a total child. 

As we count down to the end of the school year, it is of utmost 

importance that teachers take out time to recharge their 

batteries, go on a holiday, do a lot of research. These are 

essential for the new set of children that will look up to 

you, come September. 

I often say to teachers, plan the last week of the school year. 

Make it a fun one, let the children reflect and tell you how 

the journey was with you and the new found friends that 

they have bonded with. Ask them what their expectations 

will be for the new school year and the class ahead; ask 

them to keep a diary, look in on some of them if you are 

able to, take pictures of those last few days, write them a 

good bye letter, kindly personalise the letters, as each child 

must have touched you in a special way, write a goodbye 

letter to the families as well. 

And please feel free to get emotional on the last day, if 

you feel the need to drop a few tears, please do. Get them 

a simple parting gift. Trust me, they will cherish it forever. 

End the school year with a BANG!! 

 

•Eruotor writes from Lagos 

As part of efforts to create 

opportunities for holistic 

development of Nigerian 

children, irrespective of 

their socio-economic status, 

Meadow Hall Group has announced 

that entrepreneurs 

and non-governmental 

organisations within and 

outside the country that are 

passionate about producing 

a total child, can now leverage 

on its experience and 

cutting-edge resources and 

services. 

The Chief Executive Officer, 

Mrs. Kehinde Nwani, 

who made this known 

recently at a media parley 

to announce the activities 

of the Meadow Hall Group 

and its subsidiaries, said the 

organisation’s belief that 

all Nigerian children should 

have access to world class 

opportunities for all-round 

development informed the 

establishment of the five 

subsidiaries. 

They five subsidiaries are 

Meadow Hall Education, 

which is the flagship of 

the organisation; Meadow 

Hall Consult; Meadow Hall 

Foundation; Spring Meadow 

Edutainment; and Meadow 

Hall Branchise. 

Nwani described the 

survival and evolution of 

Meadow Hall as a story of 

resilience, passion, purpose 

and patriotism, adding that 

though the education arm 

started in 2002 as an infant/ 

junior school in the Lekki 

area of Lagos, the brand 

has grown into a multicompetency 

business, owing 

to its commitment to creating 

an enduring platform for 

enhancing the potential of 

the Nigerian child. 

She said Meadow Hall 

Education focuses on the 

cognitive development of 

children and equipping them 

with skills that would make 

them relevant in the 21st 

century workplace. The 

school comprises infant and 

junior schools in the Lekki 

and Ikoyi environs, as well 

as a college in Lekki. 

According to her, Meadow 

Hall Consult is the educational 

consulting arm of the 

group which offers consultancy 

services designed to 

enhance teachers’ skills and 

promote classroom productivity 

through its various 

continuous development 

courses. 

“To date, the Meadow 

Hall Consult has trained 

nearly 4,000 teachers drawn 

mostly from public schools 

on the platforms of partnership 

ventures such as Eko 

Project, Edu Camp, InnerCity 

Mission School and SOS 

Children’s Villages Nigeria. 

“Meadow Hall Consult is 

also involved in training leaders 

in education on managing 

and leading their various 

schools effectively through its 

leadership academy, as well 

as running a finishing school 

for teachers, thereby making 

them into well rounded 

individuals qualified to raise 

well rounded children.” 

The CEO said Meadow 

Hall Foundation, as the 

non-profit arm of the group 

was established to support 

communities, public schools 

and the less privileged 

through various charitable 

interventions and programmes 

such as adoption programmes, 

mentoring and scholarship 

programmes, among others. 

“Meadow Hall Foundation 

recently adopted Ilasan 

Primary school, Lekki as 

the pilot school under the 

School Adoption Programme 

to improve its educational 

standards. It also trains fresh 

graduates who are passionate 

about the education sector in 

international best practices 

for three months at no cost 

through its Graduate Trainee 

Programme.” 

She said the Spring Meadow 

Edutainment Company (SME) 

was set up to inspire and nurture 

creativity in children through 

specially designed programmes 

that provide opportunities for 

fun, entertainment and learning 

in non-cognitive areas, while 

the Meadow Hall Branchise 

is a platform to partner other 

entrepreneurs with a passion for 

children to replicate its services 

in several locations across the 

country and beyond through 

its franchise scheme. 

Edumark Holds TOSSE 

Seminar 

Peace Obi 

Edumark Consult is set to hold 

the seventh edition ofTotal School 

Support Seminar/Exhibition 

(TOSSE) on the June 11 and 

12, 2015 at Ten Degrees Events 

Center, Oregun, Lagos. 

The Managing Director, 

Goals and Ideas and Principal 

Consultant, Edumark, Mrs. Yinka 

Ogunde told Journalists, recently 

that critical attention has to be 

paid to the development of the 

nation’s education system, adding 

that TOSSE is designed to meet 

the need for new technology, 

innovative ideas, new approaches 

and many other issues the present 

day society is being faced 

with daily and particularly, the 

education community. Given the 

ever changing world and the 

emergence of new approach to 

doing things, she stressed the 

need for education community 

to keep up with the global trend 

in the sector which has become 

more necessary than ever. 

“This is a service the Total 

School Support Seminar/Exhibition 

has been providing for the 

past six years in this country. 

Keeping up with a dynamic 

and fast moving world is the 

challenge facing educators 

globally. How can you cope, 

how do you face children of 

today if you don’t know about 

their world? 

“To help the education community 

in Africa community 

keep up with global trends in 

the field of education, we find 

it imperative to create the right 

platform .” she said.Ogunde said 

the programme has for the past 

years enjoyed good attendance 

and accolades from participants 

and partners as every year’s 

edition is uniquely designed 

to improve the knowledge of 

participating teachers, educators 

and administrators such that they 

are empowered to function better 

in their respective fields.

38 


CITYSTRINGS 

Features Editor Adeola Akinremi 

Email adeola.akinremi@thisdaylive.com 

Bailing out Nigeria 

Roland Ogbonnaya writes that the novel Desert-to-Food project, an agro-based programme, 

which aims to address the menace of desertification in the northern part of Nigeria and convert 

the affected areas into food baskets, is an important initiative that can help turn the tide for Nigeria 

as the oil economy dwindles 

With the tumbling oil prices 

and the resultant measures 

by government to be less 

dependent on the dwindling 

revenue from the sector, 

experts say that there is 

other time than now for Nigeria to embrace 

agriculture for her food security and foreign 

exchange earning. 

And when you discuss, one of the ways to turn 

to agriculture is by making the Desert-to-Food 

and its subsets a reality because of its potentials 

to displace the ‘black gold’ as the economy’s 

number one foreign exchange earner. 

An initiative of FramanAgridev West Africa 

Limited, a Nigeria-Israeli private sector concern 

and a consortium of 201 Israeli, European 

and American companies, the Desert-to-Food 

programme was designed to transform the 

Nigerian economy in a manner capable of 

surpassing oil earnings through revolutionary 

agricultural techniques. The venture is expected 

to significantly take care of the country’s food 

needs and provide enormous opportunity for 

foreign exchange earnings through exports. 

Lending credence to this view, the Group 

Project Co-ordinator, Mr Emeka F. Mba, recalled 

last week while giving progress report to journalists 

on the project that upon conception in 

2006, the programme was well received by the 

federal government sequel to its articulation 

of a continental initiative christened the Green 

Wall Sahara Programme adopted by the Africa 

Union (AU) in Libya, as a continental approach 

to the battle against the Sahara desert. 

An integrated response to the ravages of 

desertification in Africa, the Green Wall Sahara as 

adapted by Nigeria, is aiming at not just saving 

the arid and semi-arid lands in the affected states, 

it is also using the Desert-to-Food project as an 

economic engine that will ensure the conversion 

of the affected areas into fertile farmlands and 

give a boost to the economy, in addition to 

ensuring the sustainability of livelihood. 

The focus of the project is on the entire northern 

region, comprising: The eleven frontline states 

directly affected by desertification, namely Adamawa, 

Katsina, Bauchi, Kebbi, Borno, Sokoto, 

Kano, Gombe, Yobe, Jigawa and Zamfara States; 

as well as buffer states of Kaduna, Nasarawa, 

Benue, Niger, Plateau, Kogi, Kwara and Taraba 

States. 

It is a tripartite arrangement, involving 

FramanAgridev, the federal government of 

Nigeria, which is contributing counterpart 

funds and international technical partners 

with donor and multilateral organisations, who 

have endorsed the various components of the 

programme. In addition, they are providing 

financial and technological back bone for the 

implementation. With active support of Israel 

and the United States of America, “the global 

political weight behind this programme can be 

easily determined.” 

The Coordinator explained that the project 

has two broad components, one of which 

comprises large-scale commercial agricultural 

development activities. This is designed to 

cultivate about 35,000 hectares of land per state, 

especially desertified lands, applying well tested 

technologies. Furthermore, he stated that agro 

industrial centres would be established in each 

state with storage facilities (such as silos) for 

food preservation, as well as processing and 

packaging equipment and other factors needed 

for the development of the commercial farming 

centres. The produce from these centres, which 

among others will include field crops, green 

houses, dairies, animal husbandry, poultries and 

fisheries are targeted at the local and export 

markets. 

Part of this component is massive afforestation 

using commercial trees to promote renewable 

A prototype of Framan Agridev industrial park in Bayelsa 

energy and produce raw materials for the 

pharmaceutical and cosmetic industries. Desertto-Food 

is also anchored on community-based 

agricultural activities, involving the establishment 

of farm settlements across the affected states 

where mechanised farming, irrigation and the 

use of high-yield crops will be deployed to 

aid the transfer of agricultural technologies to 

benefiting communities. 

In order to ensure sustainability of the 

programme, critical infrastructures will be 

provided for the development of the affected 

areas. These will include electricity, water and 

good road network. Also, building of schools 

in the farm clusters and estates for the promotion 

of education and techniques of modern 

agricultural farming in the rural areas, overall 

poverty reduction and women empowerment 

will form part of the overall objective. 

Providing more insight into the communitybased 

component, Mba also said that low 

cost housing estates of about 1000 units of 

four-bedroom farm houses per state, would 

be established, in addition to expatriate quarters 

spread across each of the states to accommodate a 

minimum of 250 experts who will, along with the 

Nigerians, drive the implementation. Describing 

it as very capital-intensive, he disclosed that 

the project will gulp not less than $100 billion. 

“It is expected that the Desert-to-Food project 

While the industrial 

park in the south-east 

is expected to cost 

about $18.4bn, the one 

for the south-west will 

cost $14.6bn, just as 

about $25bn will be 

invested in the Swampto-Food 

venture, but 

according to Mba, the 

revolutionary impact 

on the economy will far 

outweigh the costs 

will create about 250,000 direct jobs in its first three 

years of operation per state and over 20 million 

direct and indirect employment opportunities 

when fully implemented. 

“Apart from job creation and reduction in 

crime rate, developmental projects, such as 

real estate, factories, roads, and improvement 

of airport services, railroad, and tourism services 

will be seen with brand new urban centres 

being created in these dry regions. The export 

earnings from Desert-to-Food is expected to 

be $40 billion annually in the first three years 

and over $80 billion annually thereafter, as the 

project gathers momentum. FramanAgridev 

will leverage on the export markets while sales 

teams will be deployed to carry out the local 

vending of the produce which are projected 

to generate annual income of over 6trillion 

within the first five years of operation," Mba 

told THISDAY last week. 

The Co-ordinator was excited that after many 

years of managing the diplomatic intricacies, 

working out the technical details and getting 

the international donor agencies committed to 

the project, the good news is that following the 

flag-off of the Green Wall Sahara Programme 

in Kebbi state by President Goodluck Jonathan 

on November 25, 2014, the Desert-To-Food 

component is now ready for takeoff. 

THISDAY was further informed that the 

scope of the project has been widened to include 

Swamp-to-Food for the south-south flank of 

the country and industrial parks for both the 

south-east and south-west. 

The FramanAgridev's Mba, who has been 

frequenting Israel and the United States, 

facilitating summits, meetings and signing of 

memorandum of understanding (MoU) between 

Nigerian government representatives and the 

international collaborators in order to move the 

project forward, described the south-south segment 

as “massive agriculture and aquaculture” 

covering all the states in the region. The target 

is large-scale export of shrimps, salmons and 

catfish, as well as processing same for internal 

consumption. 

An Investment expert, Abdulahi Abubakar, 

who foresees huge economic benefits of the 

programme, is particularly excited about the 

potentials of Swamp-to-Food subset, enthusing 

that it is capable of substituting canned fish 

import with local products. 

Abubakar is of the view that if the venture is 

seriously pursued, the benefits to the country 

in terms of foreign exchange and employment 

generation will be amazing. 

The agricultural aspect, it was learnt, is aimed 

Mba 

at maximising the fruit growing potentials of 

the region with modern mechanical techniques, 

resulting in not just unprecedented harvests of 

pineapples and other fruits for which the axis is 

popular, but also the export of same for foreign 

exchange. 

A model of the FramanAgridev Industrial 

Park for Swamp-to-Food displayed in Lagos 

recently, showed that it is to be located less than 

100 kilometres from the airport. The scheme 

features factory complexes, residential estates 

and educational institutions, power station 

to generate 300 mega watts of electricity, 100 

kilometres of access roads, top class shopping 

malls, sports facilities, tourist attractions (manmade 

lakes, game reserves amongst others), 

modern communication station, helipad and 

a long list of other facilities. 

Mba told THISDAY last week that apart 

from the generation of over 1million jobs, 

Swamp-to-Food is also projected to earn for 

the country about $5 billion in foreign exchange 

and N600billion domestically on an annual basis. 

Like the one for the south-south, the Framan- 

Agridev Industrial Park plan for the south-east 

features, among others, factory complexes, security 

services, environmental and sewage management 

systems, liaison offices for governmental 

institutions, residences (15,000 housing units) 

and 1,000 mega-watt power plant. Covering 

about 12 square kilometres, the park will be 

sited in the Ebonyi (Isiagu)/Enugu axis.“The 

combined activities in both the South-east and 

South-south will generate for the country not 

less than $15billion in foreign exchange and 

about N2 trillion locally. 

In the same vein, the South West Industrial 

Park to be sited in Ogun State will be a selfsustaining 

industrial complex incorporating all 

the facilities earlier mentioned while optimising 

the state’s proximity to the ports. 

“Factoring in the benefits of the industrial 

activities in the south-west axis, Nigeria will be 

earning no less than $30 billion and N3 trillion 

annually in local and foreign exchange earnings”, 

the Programme Co-ordinator remarked, even as 

he disclosed that part of the plan to integrate 

tourism development into each industrial park 

are purpose-built modern buses that will be 

providing shuttle services to the residents and 

visitors. 

While the industrial park in the south-east is 

expected to cost about $18.4bn, the one for the 

south-west will cost $14.6bn, just as about $25bn 

will be invested in the Swamp-to-Food venture, 

but according to Mba, the revolutionary impact 

on the economy will far outweigh the costs.


39 

CITY STRINGS 

Onobrakpeya’s Footprints at Art Dubai 

Celebrated for his work in Nigeria and outside the country, an 83-year-old master printmaker, Dr. 

Bruce Onobrakpeya, recounts his experience as an exhibitor among art giants at the just-concluded 

Art Dubai 2015 in United Arab Emirate, Rebecca Ejifoma writes 

Art Dubai is a showcase of great works of art 

place is a great tourist 

attraction. The participation 

of Mydrim Art Gallery at 

Art Dubai 2015 was one of 

the greatest things that have 

"The 

happened to Nigerian art 

in recent times,” Mr. Bruce Onobrakpeya said 

smilling as he recounted his experience. 

It was his first solo show in Art Dubai in 

his over 50 years of romance with artworks. 

With a sense of pride Onobrakpeya shared this 

experience with THISDAY at a post-exhibition 

conference at Mydrim Art Gallery, Ikoyi Lagos 

on a recent week. 

Known across the globe as a leading international 

art fair in the Middle East, Africa and 

Southeast Asia, the 9th of Art Dubai included 

92 modern and contemporary galleries from 

40 countries in this year’s show. 

Interestingly, Onobrakpeya had the finest on 

his tray to serve art connoisseurs and enthusiasts, 

who visited his stand to see his well-displayed 

31 works shown in the modern section. They 

included 15 paper works and 16 metal pieces 

respectively. 

And, besides being excited over his show 

at the expo, the sculptor and painter enthused 

that what was very interesting to him was how 

his work was widely appreciated by visitors, 

including the VIPs from the UAE government. 

“The interest shown by the people was incredible. 

It is important to say that when the heir 

apparent to one of the rulers of Dubai came 

to my stand he spent the greatest amount of 

time with me asking questions and feeding his 

curiosity. He looked at the works for a very 

long time.” 

The expo, which holds every March, presented a 

select yet diverse line up of 92 galleries, including 

Mydrim Gallery from Lagos Nigeria. 

The idea according to the organisers is to 

enable art aficionados to engage with the work 

of over 500 artists from the UAE, the region 

and the world across three gallery programmes: 

contemporary, modern and medieval. 

So with Onobrakpeya’s foils and etchings 

wrapped in the finest finishing, the art giant 

defined the Nigerian artists. “Going to Dubai 

gave us the chance to actually measure our 

art against the global view and I found out 

that we are not doing badly at all − we are 

doing very well. 

“Our art has reached that standard as well. 

The only difference is that some of these countries 

have really organized their art around their 

Onobrakpeya 

culture more than we have done and more 

developed in order to receive and benefit from 

the art,” he said. 

Creatively tag as a not-for-profit programme, 

Art Dubai has become the cornerstone of the 

region’s booming contemporary art community 

over the last eight years. 

The Art Dubai Modern featured Morocco’s 

Mohamed Melehi and Mohamed Hamidi 

represented by Loft Art Gallery, Casablanca, 

and a Cape Verdian master, Manuel Figueira 

as well as Ernesto Shikhany from Mozambique 

showing under Perve Galeria, Lisbon. 

Adding such lid to his artistic voyage, 

Onobrakpeya explained how he got selected 

from Nigeria. 

He said: “Mydrim chose to present me in the 

2015 just like that. She gave my son, Mudiagha, 

and me tickets for the journey; packaged my 

works and sent them there. 

“The Art Dubai fair, I will consider as a very 

great tourist attraction, which brought a lot of 

people to the site. And I am glad the Mydrim 

Gallery chose me for the 2015 edition.” 

Still talking about his moments at the show 

Onobrakpeya said, “Art Dubai exposes the artists 

and is huge revenue spinning for Dubai.” 

According to him, the contemporary section 

comprised artists of same age or within five 

years of birth; “They did not only present things 

that are iconic and classical but had considerable 

influence over a succeeding generation of the 

economy. 

“From Morocco, down to Lebanon, Iraq and 

Pakistan, they came. While an artist called Pharid 

is from North Africa, I am the only one without 

an Arabic background,” he told THISDAY. 

“All the other artists had their philosophy 

which derived whatever they did from pattern 

and the infinity of line and pattern. It became 

a very nice thing to be in the midst of those 

giants,” he said. “In Arabic art, the extensive 

use of pattern is one lesson I also learnt about 

the people’s culture of infinity.” 

Speaking on the state of the Nigerian art, 

Onobrakpeya said that the infrastructure has 

become more developed in order to receive 

the art and in other to penetrate on the art 

otherwise. 

“The art we produce here is as good as the 

ones they produce there,” he said. 

He added: “The Nigerian artists are doing 

what other artists are doing. The difference is 

that the infrastructure and the people around 

The interest shown 

by the people was 

incredible. It is 

important to say that 

when the heir apparent 

to one of the rulers 

of Dubai came to my 

stand he spent the 

greatest amount of 

time with me asking 

questions and feeding 

his curiosity. He looked 

at the works for a very 

long time 

the artists, in some of these other countries, are 

doing a bit more than we are doing.” 

He thus hailed the people, the government 

and corporate bodies among others for spending 

more on developing the art and the artists in 

those places and in Nigeria but urged them 

to do more. 

He suggested that as soon as Nigeria opens up 

and the people in the environment in agreement 

with the corporate bodies do more than they 

are doing now in developing the infrastructures 

and supporting art in different ways, “then we 

will be at par with other artists.” 

Art like football, he said, needs a lot of investment. 

“The theatre was built and a whole town 

was developed, which is called the Festac Town 

today. That was for the art. We didn’t have a 

second Festac. But we had one called aresofa 

and another called the Association of Galleries, 

which both packed up as well. 

So, we don’t have a kind of fair that baits 

people from all over the world. We don’t have 

that infrastructure that will showcase our works 

to check its international measure. We don’t have 

the policy that collects the best of art works, 

showcase them and the policy to create structure 

people situation d artists to throw in people 

from outside.” 

But beyond that our artists, both young and 

old, are producing very fine ones in the country. 

But we need the policy and infrastructure in 

place to make these works enjoyable. 

This time, I saw the art from the Middle 

East. It was great to be there and compare your 

works. “To tell you how big it was there were 

over 25,000 participants; making it the biggest 

since the time of its establishment.” 

Still on the expo, the Director at Mydrim 

Gallery, Mrs. Sinmidele Adesanya said they had 

no regrets whatsoever having chosen the artist to 

show for the 2015 edition. “Some organisations 

and individuals have shown interest in his works 

and it is a very encouraging one.” 

Mydrim, as told, was selected as the only 

gallery of sub-Saharan African origin to participate 

at the Art Dubai Modern 2015. Beyond the 

immediate selling of works at the event, one 

of the world’s biggest museums chains, Guggenheim 

Museum, Abu Dhabi showed interest 

in Onobrakpeya’s works. 

Clearly, Art Dubai places emphasis on 

maintaining its intimate, human scale, while 

ensuring that quality and diversity for which 

it is recognised as one of the most globalised 

meeting points in the art world today remains.



42 WEDNESDAY MAY20, 2015 THISDAY 

EBONYI PROFESSIONALS FORUM (EPF) 

47 Nsugbe Street, Abakaliki, Ebonyi State 

Email: uaobasi@gmail.com, auchbag@yahoo.com 

HISTORICAL FACTS THAT SUPPORT DR OGBONNAYA ONU TO BE SGF: OUR STAND 

Advertorial 

We, the above named law abiding group made up of Ebonyi state of this nature are not made on the pages of the newspapers or the social media or 

indigenous professionals with expertise and skills cutting across by gossip and mudslinging. No! Fortunately, Mr President-elect knows his party 

different fields of endeavour and operating in Nigeria and beyond have members and who deserves what. He knows the attributes of his party members. 

reviewed the political situations and developments in the state and Nigeria at He knows the square and round pegs and what holes they suit. He knows who he 

large and have decided to lend our voice to the call that Dr Ogbonnaya Onu be wants for each position and so much aware of how best to accomplish the 

appointed Secretary to the Government of the Federation, SGF, by the incoming promises he made to Nigerians. 

administration of General Muhammadu Buhari (Rtd). 

But we are alarmed by the 'xenophobism' of some elements who have started to 

For the avoidance of doubt, Dr Onu is a world acclaimed Chemical Engineer and nurse certain fears that another Ebonyi person is going to be SGF in quick 

was a one time University Don; he was the former Governor of old Abia State; succession just after the incumbent, Senator Anyim Pius Anyim, GCON. There 

former Presidential Candidate of the All Peoples Party, APP and lately former are also those who are unnecessarily afraid about how Onu will use his new 

Chairman of the All Nigerians People's Party, ANPP. He is an astute Office when he is finally appointed. We understand such worries and anxieties. 

administrator and a trusted politician. Dr Onu pioneered modern politics in the old 

Afikpo zone and Ohaozara regarded then as backward. No one gave him a We have to point out that Onu is never known for abuse of power. He is a 

chance when he showed interest to contest the governorship of then larger Abia peaceful man; well nurtured. As a HOD in the University of Port Harcourt, he was 

State. But he won. Afterwards, all persons--young and old--from his once naive highly accessible to students. He was amiable and available to handle their 

native Ohaozara became smart, rediscovering themselves and potentials to matters. As Governor of Abia State, everyone knew he operated an open door 

accomplish their hitherto hidden political life, dreams and ambitions. 

policy. So no one need fear about possibilities of over-reaching himself and/or 

becoming a power monger. 

Onu is a pathfinder. He is God-fearing and gives all his energy to Causes he For the avoidance of doubt, we wish to draw the attention of people who are 

believes in. Dr Onu plays politics without bitterness. Even in the face of working against the rise of this gentleman for the good of Nigeria that there are 

provocations, he remains calm. He is creative, a man of ideas. As Governor of several acts of God, historical evidences in Nigeria as can be seen above and 

Abia state, he came up with the idea of OBU AKU CITY (City of Wealth) between even natural coincidences that defy human logic to support an appointment of Dr 

Aba, Abia State and Port Harcourt, Rivers State and meant to decongest Aba Ogbonnaya Onu as the SGF at a time like this. 

simply to attract business interests from Port Harcourt. He designed roads to 

connect the entire LGAs of Abia State and initiated several people-oriented For those who are afraid that another SGF is about to come from Ebonyi State, 

projects. But less than two years into Office, his tenure was cut short by the can we let them know that: 

military Government of General Sani Abacha. Abians missed his candour and I. Generals Murtala Mohammed and Sani Abacha were from Kano; 

humble dispositions. 

ii. General Obasanjo, MKO Abiola and Chief Ernest Shonekan are 

from the same Ogun State; 

Dr Onu moved on and played active nationalistic roles in the subsequent iii. Generals Ibrahim Babangida and Abdusalami Abubakar are from 

transition to civilian authority. He remained supportive to his party of choice and Niger State; 

peaceful back home. Despite unwarranted attacks and other calculated iv. Generals Muhammadu Buhari and Shehu Musa Yar'adua and 

conspiracies on and against his person, he was steadfast, resolute and focused. former President Umaru Musa Yar'adua are from Katsina State; 

As an opposition player, he staved off all attractions especially those meant to be v. Former President Shehu Shagari and ever respectable Ahmadu 

baits to lure him to the then ruling party. Instead, he moved about across the Bello from Sokoto; 

nation mobilizing efforts and membership for his party. He was determined. He vi. Senators Chuba Okadigbo and Nwafor Orizu were from Anambra State. 

made sacrifices. 

His defining moment however came when he assiduously worked for the merger To us, these are real acts of God and coincidences that prove the power of God 

of similar opposition parties like his ANPP and ACN, CPC, ANPP and a part of over man. They are not within the control of anyone. Therefore, it does not matter 

APGA to form a robust opposition to PDP with a wider objective of democratically that the outgoing SGF and Dr Onu are from the same Ebonyi State. After all, both 

taking over power from the party. As a consensus builder and team player, he men are of different parties with varied leadership styles and approaches to 

stepped down his personal ambition of being the National Chairman of the new situations. If Onu is eventually appointed, and we hope he will, he and Anyim 

All Progressives Congress, APC, that has won the presidential election and with would have served different authorities in separate political environments. 

a majority in the National Assembly. 

Without any equivocations, we associate ourselves with the call that APC and 

Dr Onu is a quintessential and urbane leader whose ideals include altruism, President-elect Buhari in zoning the SGF's office to the South East should 

diligence and accountability. Dr Onu is not avaricious. He does not cross a bridge consider Chief Dr Ogbonnaya Onu, accomplished humble man of immense 

and break it or prays that it breaks or that no one else crosses it. He preaches contentment. He will serve well. And this we say in our honour. We believe in God 

social justice. He allows young and old equal opportunity to prove themselves who makes all things possible. 

and excel in their chosen areas. Above all, he is a patient person and can listen God bless Nigeria! 

well. He is not violent. He believes in the robustness and superiority of 

arguments. 

God bless our President-elect! 

We are therefore not surprised that his personal traits suit those of our new 

President-elect in many ways. Onu doesn't believe in bogey wealth. He's a highly 

contented man and without any controversies around him. He doesn't come off 

as someone that will advance his personal cause using his office or enrich 

himself. He is austere, spartan and not opulent. He is a loyal man, and a team 

player. 

Recently, the media has been awash with calls by groups and individuals for 

support to their chosen candidates for the Office of the SGF. There have been 

several too in support of Onu. But we know and are convinced that appointments 

Engr. Nkemakolam Odii 

Chairman, EPF 

Barr. Uchenna Akpa, 

Secretary, EPF 

Mr Chinedu Ujunwa Nwaja 

PRO




THISDAY • WEDNESDAY, MAY 20, 2015 47 

Nigeria’s top 50 stocks based on market fundamentals 

19-May-15 18-May-15 % Change Capitalisation EPS P/E P/S Div. Yld Price/ 

Book 

Value 

01 Dangote Cement Plc 178.00 178.49 -0.27% 3,033,210,318,090.00 11.45 15.55 7.69 3.93% 5.12 

02 Nigerian Brew. Plc. 154.00 156.99 -1.90% 1,164,656,482,528.00 6.12 25.16 4.22 2.92% 11.39 

03 Guaranty Trust Bank Plc. 29.99 30.00 -0.03% 882,641,064,927.76 3.08 9.74 3.58 4.83% 2.36 

04 Zenith Bank Plc 22.85 22.81 0.18% 717,409,883,010.10 3.10 7.37 1.97 7.66% 1.30 

05 Nestle Nigeria Plc. 905.02 901.00 0.45% 717,369,761,185.04 27.78 32.58 5.28 3.04% 15.37 

06 Lafarge Africa Plc. 82.50 82.52 -0.02% 363,344,519,010.00 6.42 12.85 1.77 4.00% 1.90 

07 Ecobank Transnational Incorporated 22.00 21.60 1.85% 350,959,493,808.00 1.60 13.73 0.82 2.82% 0.94 

08 FBN Holdings Plc 9.26 9.20 0.65% 302,173,101,136.56 2.08 4.46 0.75 10.80% 0.58 

09 Stanbic IBTC Holdings Plc 30.10 29.92 0.60% 301,000,000,000.00 2.65 11.37 2.55 0.33% 2.68 

10 Forte Oil Plc. 188.99 189.00 -0.01% 246,155,903,655.97 5.18 36.48 1.81 2.12% 6.22 

11 Guinness Nig Plc 160.00 158.50 0.95% 240,942,110,080.00 6.24 25.63 2.14 0.00% 5.80 

12 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 

13 United Bank for Africa Plc 5.35 5.46 -2.01% 176,450,423,478.10 1.32 4.04 0.64 9.35% 0.74 

14 Oando Plc 17.75 18.00 -1.39% 161,253,171,849.50 0.66 26.81 0.28 4.23% 1.02 

15 Access Bank Plc. 6.35 6.28 1.11% 145,306,535,065.80 1.69 3.76 0.69 5.51% 0.52 

16 Unilever Nigeria Plc. 34.40 34.50 -0.29% 130,145,391,000.00 0.93 36.86 2.18 3.63% 20.41 

17 Transnational Corporation Of Nigeria Plc 3.20 3.18 0.63% 123,907,191,760.00 0.29 10.91 3.83 1.56% 1.35 

18 P Z Cussons Nigeria Plc. 29.60 29.25 1.20% 117,526,120,532.00 1.09 27.25 1.62 4.39% 2.53 

19 7-Up Bottling Comp. Plc. 178.00 178.00 0.00% 114,025,084,614.00 8.39 21.20 1.46 1.24% 6.58 

20 Diamond Bank Plc 4.50 4.65 -3.23% 104,221,750,356.00 1.33 3.39 0.55 6.67% 0.71 

21 Flour Mills Nig. Plc. 35.00 34.90 0.29% 91,848,301,545.00 1.84 19.01 0.28 5.71% 1.08 

22 U A C N Plc. 41.57 41.90 -0.79% 79,850,332,567.59 4.53 9.17 1.00 4.21% 1.09 

23 Dangote Sugar Refinery Plc 6.58 6.55 0.46% 78,960,000,000.00 1.11 5.91 0.78 7.60% 1.61 

24 Cadbury Nigeria Plc. 39.90 39.90 0.00% 74,940,261,396.00 3.21 12.44 2.23 3.26% 6.86 

25 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 

26 International Breweries Plc. 20.00 20.00 0.00% 65,250,528,600.00 0.65 30.99 3.53 1.25% 5.79 

27 Sterling Bank Plc. 2.19 2.13 2.82% 63,051,015,695.94 0.26 8.37 0.64 11.42% 0.09 

28 FCMB Group Plc. 3.17 3.10 2.26% 62,774,593,090.18 0.82 3.85 0.46 9.46% 0.43 

29 Fidelity Bank Plc 1.90 1.88 1.06% 55,052,114,343.70 0.23 8.25 0.44 7.37% 0.32 

30 Mobil Oil Nig Plc. 151.00 151.30 -0.20% 54,449,884,562.00 19.21 7.86 0.66 3.97% 4.06 

31 Total Nigeria Plc. 150.51 156.90 -4.07% 51,101,431,686.87 15.49 9.72 0.21 5.98% 3.57 

32 Glaxo Smithkline Consumer Nig. Plc. 44.20 44.20 0.00% 42,286,192,598.00 2.56 17.26 1.41 2.94% 3.26 

33 Wema Bank Plc. 1.05 1.00 5.00% 41,462,791,873.65 0.00 356.00 6.13 0.00% 23.34 

34 Skye Bank Plc 2.61 2.38 9.66% 34,502,463,504.36 1.14 2.29 0.27 11.49% 0.29 

35 Presco Plc 32.30 32.55 -0.77% 32,300,000,000.00 3.28 9.85 2.84 0.31% 1.82 

36 Mansard Insurance Plc 3.00 3.00 0.00% 30,000,000,000.00 0.20 14.99 1.99 1.33% 1.94 

37 Cap Plc 41.50 41.00 1.22% 29,050,000,000.00 1.66 24.96 4.36 2.41% 22.12 

38 Honeywell Flour Mill Plc 3.63 3.64 -0.27% 28,786,617,498.54 0.40 9.13 0.54 4.41% 1.49 

39 Okomu Oil Palm Plc. 28.90 28.20 2.48% 27,567,999,000.00 2.25 12.87 3.11 3.46% 1.19 

40 Unity Bank Plc 2.35 2.26 3.98% 27,469,944,163.70 0.54 4.33 0.43 0.00% 0.48 

41 Custodian And Allied Insurance Plc 4.00 4.00 0.00% 23,527,456,780.00 0.70 5.69 0.93 2.75% 1.14 

42 National Salt Co. Nig. Plc 8.20 8.07 1.61% 21,725,394,699.60 0.97 8.47 2.02 10.98% 3.88 

43 UACN Property Development Co. Limited 10.40 10.40 0.00% 17,874,999,948.00 1.81 5.75 1.60 6.73% 0.54 

44 Cement Co. Of North.Nig. Plc 10.51 10.48 0.29% 13,207,683,320.66 1.13 9.32 0.81 6.66% 1.35 

45 Continental Reinsurance Plc 0.99 0.99 0.00% 10,269,016,868.88 0.16 6.21 0.65 10.10% 0.70 

46 Nigerian Aviation Handling Company Plc 6.23 6.00 3.83% 9,198,984,375.00 0.49 12.60 1.12 4.82% 1.55 

47 AIICO Insurance Plc. 1.01 1.01 0.00% 8,888,206,524.80 0.14 7.31 0.33 0.00% 0.69 

48 Wapic Insurance Plc 0.55 0.53 3.77% 7,360,506,036.40 0.03 19.22 1.96 0.00% 0.52 

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 3.30 3.30 0.00% 4,950,000,000.00 0.63 5.21 0.22 12.73% 0.10 

TOTAL 10,768,444,984,098.70 

TOTAL MARKET CAP 11,791,793,164,929.90 

% OF MARKET CAP 91.32% 

Annotation - MA* = Simple Moving Average 

Table 1 Market Statistics 

Mkt Indicators 

Open 

18-May-15 

Close 

19-May-15 

Change % 

NSE All Share Index 34,781.46 34,706.93 -0.21 

NSE Market Cap (N'Trillion) 11.82 11.79 -0.21 

Thisday BGL 50 Index 144.63 144.49 -0.10 

Thisday BGL 50 Market 

Cap (N'Trillion) 

10.78 10.77 -0.10 

Table 3 Top 5 Gainers 

Stock 

Table 4 Top 5 Losers 

Stock 

Open 

18-May-15 

Open 

18-May-15 

Close Change % 

19-May-15 

Skye Bank Plc 2.38 2.61 9.66 

Wema Bank Plc. 1.00 1.05 5.00 

Unity Bank Plc 2.26 2.35 3.98 

Nigerian Aviation Handling 6.00 6.23 3.83 

Company Plc 

Wapic Insurance Plc 0.53 0.55 3.77 

Close Change % 

19-May-15 

Total Nigeria Plc. 156.90 150.51 -4.07 

Diamond Bank Plc 4.65 4.50 -3.23 

United Bank For Africa Plc 5.46 5.35 -2.01 

Nigerian Brew. Plc. 156.99 154.00 -1.90 

Oando Plc 18.00 17.75 -1.39 

Equity market falters after 

4 day gaining streak amid 

Apex Bank’s decision 

Market pulse on the Nigerian Stock Exchange 

(NSE) today- Tuesday May 19th 2015 was bearish 

as the Apex Bank retained MPR and liquidity ratio 

at 13% and 30% respectively while harmonizing 

private and public sectors funds at 31%. The 

equity market closed red today and recorded were 

positive performances from all the sectors save the 

Oil and gas and consumer goods sector 

Trading activities increased in volume as 

N357.2million shares worth N4.149billion in 4700 

deals exchanged hands today. This is an increase 

from N305.7million shares worth N2.97billion 

in 4674 deals carried out on Monday. Topping in 

volume terms was UBA Plc., Transcorp Plc. and 

Unity bank Plc. While Zenith bank Plc and Guaranty 

trust bank Plc ended trading as the most active 

stocks in value terms. The All Share Index (NSEASI) 

closed negative with a 0.21% (-74.53) decrease 

to 34,706.93 from 34,781.46 the previous trading 

day. Market Capitalization depreciated in tandem 

to N11.791 trillion from N11.817 trillion the prior 

trading day. The Thisday BGL 50 Index also closed 

negative with a -0.10% decrease to close at 

144.49 from 144.63 the previous trading day, while 

its market capitalization stood at N10.768 trillion 

from N10.779 trillion the previous trading day. 

A total number of 35 stocks gained on the 

bourse today while 25 stocks declined, leaving 56 

stocks unchanged. Skye Bank Plc. emerged the 

toast of investors as it topped the Thisday BGL 50 

Index gainers’ list with a gain of 9.66% to close at 

N 2.61per share. It was followed by Wema Bank 

Plc. with a gain of 5.00% to close at N 1.05per 

share. Others on the gainers list include Unity Bank 

Plc, Nigerian Aviation Handling Company Plc and 

Wapic Insurance Plc. On the decliners’ list, Total 

Nigeria Plc led with a loss of -4.07% to close at N 

150.51per share. It was followed by Diamond bank 

Plc. with a loss of -3.23% to close at N 4.50per 

share. Others on the losers list include; United Bank 

For Africa Plc, Nigerian Breweries Plc. and Oando 

Plc. 

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


49 

NEWSEXTRA 

WHO Sets up $100m Contingency Funds for 

Healthcare Emergencies 

Nigeria presents score card 

Paul Obi in Abuja with agency 

reports 

The World Health Organisation 

(WHO) yesterday at the 68th World 

Health Assembly (WHA) said 

it would set up a $100 million 

contingency fund to tackle 

healthcare emergencies mostly 

in the developing world. 

WHO Director General, Dr, 

Margaret Chan, made this known 

while declaring open the 68th 

World Health Assembly. 

Chan vowed that never will the 

agency and the world be taken by 

surprise again as witnessed with 

the outbreak of the Ebola Virus 

Disease (EVD), cholera, meningitis 

and other diseases. 

The WHO DG told the assembly 

that “with the support of member 

states, I am establishing a $100 

million contingency fund, financed 

by flexible voluntary contributions, 

to ensure we have the necessary 

resources available to immediately 

mount an initial response. 

“I am making the following five 

changes: I am creating a unified 

WHO programme for health 

emergencies, accountable to me. I 

am establishing clear performance 

metrics for the programme, built on 

partnerships with other responders. 

“I am establishing a global health 

emergency workforce, and I am 

strengthening our core and surge 

capacity of trained emergency 

response staff. I am developing 

new business processes to facilitate 

a rapid and effective response,” 

Chan stressed. 

She added: “I have proposed 

options for a new $100 million 

NAFDAC expresses concern over 

laboratory testing 

Paul Obi in Abuja 

Indications emerged yesterday 

that the packaged water industry 

in the country now generates 

N8 billion turnover daily. 

The Director General of the 

National Agency for Food and 

Drug Administration and Control 

(NAFDAC), Dr Paul Orhii, made 

the revelation at the presentation 

of annual report on packaged 

water in Abuja. 

The DG explained that the 

“primary objective of annual 

packaged water monitoring 

exercise was to ensure that 

existing packaged water 

producers comply strictly with 

Good Manufacturing Practices 

(GMP) without compromising 

quality and safety of consumers. 

“Besides, the agency cannot 

afford to toy with an industry 

whose daily turnover is now 

estimated at N8 billion. This is 

due to the importance of safety 

of water for consumption, the 

increased need to continually and 

proactively prevent water-borne 

diseases,” Orhii observed. 

He explained that “the 

outcome of this exercise in the 

contingency fund. I do not ever 

again want to see this organisation 

faced with a situation it is 

not prepared, staffed, funded, 

or administratively set up to 

manage. We will move forward 

on an urgent footing. I plan to 

complete these changes by the 

end of the year. 

“Countries need well-functioning 

health systems that can withstand 

shocks, whether these are caused 

by a changing climate, a runaway 

virus, or an overload of patients 

with non-communicable diseases. 

“As a defence against the 

infectious disease threat, countries 

also need the core capacities 

required to implement the 

International Health Regulations. 

Doing so is critical to the global 

health security agenda. 

Chan also commended Nigeria’s 

efforts on polio eradication, 

stating that “we are now closer 

than ever to polio eradication. 

The situation in Nigeria looks 

extremely encouraging, with 

no cases reported for the past 

nine months. Afghanistan and 

Pakistan have both made great 

strides despite severe challenges. 

This is one initiative that must 

not fail. 

Meanwhile, Nigeria’s Minister 

of State for Health, Mr. Fidelis 

Nwankwo, addressed delegates 

on the first day of the 68th World 

Health Assembly holding in 

Geneva, Switzerland, where he 

presented Nigeria’s achievements. 

Nwankwo used the opportunity 

to appreciate the WHO and its 

leadership for its work, especially 

for its handling of the various 

Nigerian Packaged Water 

Industry Now Generates 

N8bn Daily 

form of generated data would 

be considered as national data 

on packaged water quality 

parameters profiling that 

will be shared with relevant 

stakeholders.” 

Orhii further expressed concern 

over quality testing laboratories 

in the country, warning that the 

inability of producers to adhere 

to best practices would compel 

the agency to wield the big stick. 

“The agency will be left with 

the only option of closing down 

such erring factories if producers 

failed to subject their water to 

quality status profile analysis,” 

the DG said. 

While making his 

presentation, the consultant for 

the project and Chief Executive 

Officer of the company, Emani 

Global Network Nig. Ltd, 

Emmanuel Osiegwu, said the 

report remains a very critical 

component of national data 

on water consumption in the 

country. 

Osiegwu explained that the 

new report would now act as 

a guide to innovations and 

the need to revamp the water 

industry. 

global health challenges. 

He observed that the efforts of 

WHO are in line with Nigeria’s 

own national goals and objectives. 

The minister informed the 

assembly that the Nigerian Centre 

for Disease Control (NCDC) which 

was established in 2012 has been 

expanded and strengthened to 

provide infrastructure and capacity 

to respond to public health threats. 

He said it was Nigeria’s 

expectation that the centre can 

be further adapted to serve as 

one of the hubs of the African 

Centres for Disease Control that 

will provide the requisite system 

that can respond to any threats to 

public health in the African region. 

The minister used the occasion 

to highlight some of Nigeria’s 

WELCOME TO ONDO 

Ondo State Governor, Dr. Olusegun Mimiko, flanked by the country representative of the United Nations Population Fund (UNPF), Ratidzai 

Nahlovu (left) and Commissioner for Health, Dr. Dayo Adeyanju (right), during a visit by the UNPF Representative to the governor, at the 

Government House, in Akure...yesterday 

Senate Suspends Plenary for Zannah, Holds 

Valedictory for Him, Chukwumerije Today 

Ekweremadu mourns foremost activist, Ezeazu 

Omololu Ogunmade in Abuja 

The Senate yesterday suspended 

its plenary secession in honour 

of its member, Senator Ahmad 

Zannah (Borno Central), who 

died on Saturday in Abuja after 

battling cancer for weeks. 

In the same vein, the 

Senate will hold valedictory 

sessions today in honour of 

both Zannah and Senator Uche 

Chukwumerije (Abia North), who 

passed on April 19, 2015, at the 

Turkish Hospital, Abuja. 

Whereas the Senate had earlier 

scheduled a valedictory session 

in honour of Chukwumerije for 

today, the demise of Zannah on 

Saturday, compelled the chambers 

to redesign the sessions for 

the two deceased legislators 

simultaneously. While Zannah 

had since been buried in 

Bama, his town in Borno 

State, according to Islamic 

rites, Chukwumerije will be 

buried on Friday, May 22, in 

achievements in the health sector, 

recalling that although Nigeria 

was one of the countries that 

was affected by the Ebola Virus 

Disease (EVD), it was however, 

the first country to be certified 

EVD free by the WHO on October 

20, 2014. 

He maintained that the success 

the country recorded in containing 

the EVD outbreak remained. “a 

remarkable feat,” pointing out that 

political leadership, a command 

and control structure, multi-sectorial 

engagement and support of 

development partners were 

all critical to Nigeria’s success. 

He noted that Nigeria 

extended similar solidarity 

and support to its neighbours 

who were contending with the 

his home town, Ngodo Isuochi 

in Abia State. 

The Senate in its usual 

tradition held a minute silence 

in honour of Zannah yesterday 

before adjourning till today. 

In his remarks before the 

adjournment, Senate President, 

David Mark, said: “In keeping 

with the tradition of the 

Senate, we will not sit today 

(yesterday). There will be joint 

valedictory sessions for both 

Chukwumerije and Zannah 

tomorrow (today) where senators 

are expected to dress in black 

or in white with black stripes.” 

Meanwhile, the Deputy 

Senate President, Senator 

Ike Ekweremadu, yesterday 

expressed deep sorrow over the 

death of pro-democracy activist, 

Mr. Emma Ezeazu, describing him 

as a credible social mobiliser who 

gave his life to his fatherland. 

Ezeazu, until his death, led 

Alliance for Credible Elections 

(ACE), a vibrant civil group 

Ebola epidemic by sending over 

250 volunteers to Liberia and 

Sierra Leone, which he observed, 

was the largest contingent of 

the African Union mission to 

help support Ebola containment 

efforts. 

The minister informed the 

assembly that although Nigeria 

had been certified Ebola free, it is 

not resting on its oars but rather 

maintaining up-most vigilance, 

has stepped up research into the 

disease and is implementing a 

post-Ebola containment plan. 

EVD was a recurring topic 

highlighted by a majority of 

speakers during the assembly 

including the guest speaker 

of the occasion and German 

Chancellor, Angela Merkel, and 

which campaigned vigorously 

for electoral reforms as well as 

the implementation of Justice 

Mohammed Uwais’ committee’s 

recommendations on electoral 

reforms. 

He was the President of 

National Association for Nigeria 

Students (NANS) at the University 

of Nigeria (UNN), Nsukka, in the 

1980s. 

In a statement by Uche 

Anichukwu, his Special Adviser, 

Media, Ekweremadu said Ezeazu 

was one Nigerian who contributed 

immensely to the deepening of 

democracy in the nation. 

His words: “The death of Emma 

Ezeazu is a huge setback to the 

efforts to deepen democratic 

rule and good governance in 

Nigeria. He was forthright and 

absolutely tenacious in faith in 

Nigeria’s brighter future through 

the strengthening of democratic 

institutions and the electoral 

process. 

“He was particularly helpful 

the Director General of WHO, 

Dr. Margaret Chan. 

According to Dr. Chan, “The 

Ebola outbreak shook this 

Organisation to its core.” 

The minister further used the 

occasion to highlight Nigeria’s 

unprecedented progress 

in curbing the scourge 

of poliomyelitis, noting 

that the country has 

successfully interrupted 

polio transmission in the 

last 10 months. While calling 

on partners and the world 

health body to continue 

to support Nigeria’s efforts, 

he assured that Nigeria would 

continue to sustain it intervention, 

vigilance and surveillance efforts 

with deep commitment. 

to the Senate Committee on the 

Review of the 1999 Constitution in 

6th National Assembly. Because of 

the consecutive disappointments 

among the citizenry over 

the previous inability of the 

National Assembly to amend the 

constitution, not many Nigerians 

gave us any chance. But Ezeazu 

was among the compatriots who 

believed in us. He galvanised the 

civil societies support for the 

Constitution and Electoral Act 

amendment efforts that produced 

the improved elections the nation 

enjoys today.” 

Ekweremadu regretted that 

Ezeazu departed when the fruits 

of his age-long struggle was 

beginning to manifest, noting 

also that his intellect, patriotic 

zeal and wealth of experience 

in nation-building would be 

highly missed. 

He prayed God to grant the 

deceased eternal rest, and his 

survivors the fortitude to bear 

the irreparable loss.

50 WEDNESDAY MAY 20, 2015 • THISDAY 

NEWSEXTRA 

Speakership Race: Legislators Clash over 

Gbajabiamila’s Aspiration 

Jibrin, North-central members kick 

Muhammad Bello in Abuja 

Majority of the legislators of the 

House of Representatives, both 

old and new, from the North-west 

geo-political zone, yesterday threw 

their weight behind the aspiration 

of Hon. Femi Gbajabiamila. 

This is in spite of the growing 

cynicism and rejection of such 

actions credited to members from 

the North-east and North-central 

zones. Some elements of the House 


caucus from the two zones have 

recently rejected claims made in 

an advertisement and some stories 

that they support Gbajabiamila. 

This is as Hon. Ahmed Rufa’i 

Chanchangi, from Kaduna, told 

journalists that the zone supports 

the bid of Gbajabiamila, given the 

sacrifices he has made to uphold 

the interest of the North-west since 

2011. 

By his pronouncement, about 

80 federal lawmakers out of the 

90 coming from the North-west 

geo-political zone have lined up to 

back the candidacy of the Minority 

Leader, Gbajabiamila, in the race 

for speakership of the incoming 

eighth House of Representatives. 

Chanchangi said: “I think, to me 

and to the returning members of 

the House, there is no conflict at 

all. The only person in the race is 

Hon. Femi Gbajabiamila”. 

“Apart from him, I can’t see 

anybody in the race because when 

you are talking about someone 

being in the race, the first thing 

to be taken into consideration is 

your home support base. 

“Look at Hon. Abdulmumin 

Jibrin, I can say he is someone who 

is just trying to bargain with the 

whole issue because he is from 

Kano State, I have not seen even 

a single member behind him. 

“Let’s go to the other contenders 

like Hon. Dogara; there have been 

a lot of noise about Dogara and 

why I am saying it’s a lot of noise 

is that, first of all, you have to 

convince me that your state is 

behind you. Bauchi State has 11 

members and I don’t see any of the 

11 members going behind Dogara 

to campaign along with him, I 

have not seen anything like that. 

“So, for me, the only person 

that is contesting is Hon. Femi. 

I am from the North-west, we 

have almost 90 members from 

the North-west. Kaduna State in 

particular, we have 16, from Kano 

we have 24, Katsina we have 15, 

Jigawa we have 11 and in Sokoto 

we have 12 members respectively. 

He added: “What we have 

is almost one-quarter of the 

total honourable members of 

the House. And if you take a 

look at that statistics, from the 

90 honourable members, about 

75 to 80 are hundred per cent 

with Gbajabiamila and this is 

not because of party affiliation 

but because of what he did.” 

“This is someone who has 

been in the House for the past 

12 years, I just joined the House 

in 2011 but I have seen what he 

has been doing for the past 12 

years as the minority leader. 

“For someone to lead you from 

darkness to light, we know he is 

the right candidate. We don’t have 

to even start doubting. He led the 

opposition from minority party in 

the House now to majority party 

and he stood on his feet through 

thick and thin. 

He dismissed as baseless 

,allegation that the outgoing 

Speaker, Aminu Tambuwal, is 

behind one of the contenders for 

the position. “Actually, I won’t 

say Tambuwal is behind any 

contestant apart from Femi. If he 

is, he should come out and say 

‘I am behind so and so person.’ 

Once he cannot come out and say 

this, then we believe it is already 

‘dead on arrival’. 

“Whoever or the supposed 

candidates that are going about 

lying that Tambuwal is behind 

them are playing to the gallery 

and I don’t believe that such a 

thing exists at all”, he stressed. 

Meanwhile, Jibrin observed that 

recent claims of endorsement of 

aspirants by different groups 

of members of the House of 

Representatives will not ultimately 

decide who becomes the Speaker 

of the lower chamber. 

According to him, the popularity 

of an aspirant can only be 

ascertained by the number of votes 

he garners and not some unclear 

zonal and state endorsements. 

He told journalists that “as 

evident with the outgoing seventh 

assembly, members of the House of 

Representatives chose their leaders 

based on acceptance, not purported 

endorsement being bandied in the 

media. I am confident that the 

eighth Assembly will continue 

this laudable democratic trend.” 

“All the endorsement claims and 

counter claims have ended up as 

fake and lies. However, the focus 

should be acceptability not fake 

endorsements. Secondly, I have 

concentrated clearly in what I will 

do if elected, other aspirants are 

simply struggling to be speaker 

in a do or die manner. I challenge 

them (aspirants) to come out with 

their agenda if they are sure it will 

be in the new spirit of change!” 

Jibrin added. 

He further added that: 

“With the recent powerful 

and patriotic statement 

from the president-elect, 

the coast has been cleared for 

competence and merit to determine 

who becomes Speaker of the 8th 

Assembly. 

“It is a known fact that only if 

I am zoned out, under a free and 

fair contest I will win with land 

slide margin the 8th Assembly 

Speakership election. None of 

the aspirants can match my 

popularity or provide the 

needed compatibility with the 

incoming President to execute 

the needed reforms and deliver 

on our campaign promises like 

myself.” 

Orubebe Debunks Plans to Defect 

to APC, Threatens Legal Action 

Chiemelie Ezeobi 

Former Minister of Niger 

Delta Affairs, Mr. Godsday 

Orubebe, has debunked reports 

making the rounds that he is 

planning to dump the Peoples 

Democratic Party (PDP) for the 

All Progressives Congress (APC). 

Orubebe had debunked the 

news following the uproar that 

trailed a tweet he supposedly 

tweeted announcing his decision 

to join the APC. 

The uproar was caused by his 

infamous protest at the collation 

centre during the just concluded 

general election where he accused 

the Chairman of the Independent 

National Electoral Commission 

(INEC), Attahiru Jega, of rigging 

in favour of the APC. 

Tweeting from @ 

ElderGOrubebe, he supposedly 

wrote, “I have concluded plans 

to join my folks in the APC 

to champion and sustain the 

movement for a better Niger 

Delta in the new administration. 

Details will be released soon. 

Thank you all.” 

Following his announcement, 

all hell was let loose on Twitter 

with one writer simply identified 

as Woye, who seemed to have 

captured the general feeling of 

almost all Twitter users. 

Tweeting from @woye he 

wrote, “This account must have 

been hacked. Not the Orubebe 

that I know.” 

Imam Imam seemed to have 

agreed as he tweeted from @ 

imamdimam, “Orubebe’s twitter 

handle has been hacked. Because 

it is tweeting responsible things.” 

Also, one Adebayo Salami 

tweeting from @Le_Stylo wrote, 

“Am I seeing clearly? Has this 

handle been compromised? 

@ElderGOrubebe to join @ 

APCNigeria Interesting!” 

Chuka Chuka tweeting from 

@chukachuka0984 wrote “For 

real? Then you must make a 

big fortune being an actor, cos 

your role on the vote counting 

day was amazing!” 

Adeola Ahmed also wrote, 

“Elder! Please stay in your party 

and ensure government delivers 

public good to the Niger Delta 

people. 

“He has constitutional right to 

do so but does he have moral 

right? Time will tell.” 

One David Emzo wrote: 

“Exactly, now he’s talking about 

Niger Delta struggle when he 

was in position what did he 

do?” 

To which @teghmulu replied, 

“Dont mind him, he’s always 

been a runner to where the grass 

is greener. He did nothing for 

us and he still won’t.” 

Prince Akin Odunsi also 

wrote “Please Oga Orubebe! Sit 

down for your party! We don’t 

need you in APC! Okay? You 

can’t cope with our Jegamacine 

here! Stay there biko.” 

Kayode Ogundamisi tweeting 

from @ogundamisi wrote, “If it 

is confirmed that Elder Peter 

Godsday Orubebe is joining the 

APC then it is safe to say 99 per 

cent of Nigerian politicians need 

psychological help.” 

Not many however flayed his 

decision and among them was 

one Mrs. Yetunde Ogudo who 

tweeting from @yetundeogudo 

wrote, “Please do what is best 

for you and your country to the 

best of your conscience. Don’t 

let anyone dictate your life!” 

Orubebe, who has since come 

out to debunk any plans to defect, 

threatened legal actions against 

the rumours mongers, even as 

he disclosed that his Twitter 

handle was hacked by some 

unknown persons. 

BRIEFING THE MEDIA 

L-R: Contractor for Ministry of Women Affairs, Mr. Haida Saidi; Minister of Women Affairs, Hajia Zainab Maina; and the Permanent 

Secretary in the ministry, Dr. Ezekiel Onyemomi, addressing the press on the completion of the new office building of the ministry in Abuja... 

yesterday 

Julius Atoi 

Kaduna APC Transition Committee Wants Yero 

Investigated over N2.7bn Sure-P Funds 

John Shiklam in Kaduna 

The All Progressives Congress 

(APC) Transition Committee in 

Kaduna State has petitioned the 

Economic and Financial Crime 

Commission (EFCC) over alleged 

attempts by the outgoing governor 

of the state, Alhaji Mukhtar Yero, 

to temper with N2.744 billion, being 

funds that accrued from the 

Subsidy Reinvestment Programme 

(SURE-P). 

It was learnt that Yero had 

approached the state legislators 

to approve the disbursement of 

the funds said to have accrued 

for the 23 local councils in 2014. 

In the petition dated May 15, a 

copy of which was circulated to 

the media in Kaduna yesterday, 

the Chairman of the APC 

Transition Committee, Alhaji 

Balarabe Abbas Lawal, claimed 

that elaborate steps were being 

taken by the outgoing state 

government to legitimise the 

misappropriation of the funds. 

“I write to bring to your 

attention the elaborate steps being 

taken by the outgoing Kaduna 

State Government to legitimise 

the misappropriation of N2.744 

billion local government Sure-P 

funds, and to request that you 

exercise your responsibility of 

deterring crime by preventing 

this last-minute looting of public 

assets,” the committee stated in 

the petition. 

The committee said the 

state House of Assembly had 

earlier declined to appropriate 

the Sure-P funds in the 2015 

budget by removing it from the 

budgets submitted by the 23 local 

government councils in the state, 

insisting that the fate of the funds be 

left to the incoming administration. 

The committee however alleged 

that the outgoing governor has 

been putting the legislature under 

tremendous pressure to approve 

his utilisation of 50 per cent of the 

funds for a road project, while 

the 23 local government councils 

would share the balance. 

“Coming from a government 

whose tenure expires in less than 

two weeks, the intensity of the 

lobby for the money indicates a 

certain desperation that is clearly 

not in the public interest. 

“I wish to therefore request that 

you (EFCC) urgently investigate 

whether the Sure-P fund is still 

intact, or if it has been spent 

without appropriation thus 

necessitating a belated approval 

from the House of Assembly to 

provide a ‘legal’ means of retiring 

the funds. 

“If, as it is widely believed in the 

state, the monies have already been 

spent, it is crucial to determine the 

projects, the contractors and the 

procurement processes that facilitated 

such a deliberate hemorrhaging of 

public funds,” Lawan said. 

The governor-elect, Malam Nasir 

Ahmad El-Rufai, who expressed 

concern over the issue, has vowed 

that his administration will punish 

anyone who misappropriates public 

funds. 

El-Rufai in a statement 

declared that the incoming APC 

government in the state would 

punish anyone culpable in the 

SURE-P funds diversion. 

“I have been made aware 

of desperate attempts to secure 

approval to spend N2.744 billion 

SURE-P funds. Less than two 

weeks to its exit, the outgoing 

government of Kaduna State is 

seeking to pressure the outgoing 

House of Assembly to permit it to 

spend 50 per cent of the money 

on the Kawo road project, while 

the 23 local government councils 

will share the balance. 

“As governor-elect, it is my duty 

to caution every official involved 

in these last-minute deals that the 

incoming government will ensure 

that there are consequences for 

illegal conduct, breach of trust 

and stealing of public assets. Our 

government will certainly insist 

on accountability, and no one 

should be in any doubt about 

our resolve, be it the instigators 

of any impropriety or those 

who facilitated and executed 

it,” El-Rufai said.

WEDNESDAY MAY 20, 2015 • THISDAY 51 

NEWSEXTRA 

Bamidele Defects to APC, Praises Buhari, 

Tinubu for their Sacrifices 

Olakiitan Victor in Ado Ekiti 

The Chairman, House of 

Representatives Committee 

on Legislative Budget and 

Research and former Labour 

Party chieftain, Hon. Opeyemi 

Bamidele, on Monday defected 

with his teeming party supporters 

to the All Progressives Congress 

(APC), saying he is not returning 

to the party to flex muscle with 

its leaders. 

At a press conference in his Iyin 

Ekiti country home heralding the 

return of the LP members to APC, 

Bamidele said they took the step 

in a bid to rescue the party from 

the brink of collapse occasioned by 

the defeat it suffered to Governor 

Ayodele Fayose during the June 

21 governorship poll. 

Bamidele praised the national 

leaders of the party, Major Gen 

Muhammadu Buhari, Senator 

Bola Ahmed Tinubu, former 

National Chairman, Chief Bisi 

Akande and his successor, Chief 

John Odigie-Oyegun, for their 

resolute belief in him despite his 

defection to LP. 

Though, Bamidele contested 

for the governorship poll on the 

platform of LP, but Fayose had 

won the election by defeating 

the then incumbent governor, Dr. 

Kayode Fayemi and the candidate 

of the APC in all the 16 local 

government areas of the state. 

Present at the meeting were the 

LP deputy governorship candidate 

in the Ekiti governorship poll, 

Alhaja Maryam Ogunlade, LP 

Chairman in the state, Akin Omole, 

Secretary, Asbiola Olowokere , the 

DG, Michael Opeyemi Bamidele 

Campaign organisation, Hon. Ropo 

Ige, Prof Joseph Oluwasanmi. 

Others include: senatorial, House 

of Representatives and House of 

Assembly candidates in the last 

elections, chairmen of party in the 

16 council areas and the 177 ward 

chairmen of the party. 

Bamidele, whose political 

platform; Ekiti Bibire Coalition 

had defected from the defunct 

Action Congress of Nigeria to 

LP following irreconcilable crisis 

with ex-Governor Kayode Fayemi 

in 2013 , stated that he would 

have defected to the APC with 

his teeming supporters before 

March 28 poll, but for the fact that 

the party had fielded candidates 

for various elections. 

He said it would be foolhardy 

and tantamount to a betrayal of 

trust for him to have abandoned 

the candidates and defected to 

APC to mobilise support for the 

president elect, Major General 

Muhammadu Buhari and his 

deputy, Prof Yemi Osinbajo (SAN) 

in the presidential poll. 

The federal lawmaker, who 

counselled the political actors 

in the state to be wary of their 

actions in order not to derail the 

democratic process, described the 

impeachment hammer dangling on 

Fayose’s head as a manifestation of 

injustice that had eluded the state. 

He said: “By and large, politics, 

if it is meant to serve the common 

interest, must be a dynamic 

aspect of human endeavour 

that embodies a whole process 

of expression, competition and 

reconciliation of personal interests 

for the ultimate benefit of the 

people. 

“Let me use this opportunity to 

reiterate that my decision to contest 

for the governorship of Ekiti State is 

borne out of my innate conviction 

and that of many like-minds of 

mine, most of whom are illustrious 

sons and daughters of this great 

state, that though the ACN-led 

administration then was doing 

its best, however, its best was not 

enough for our much expectant 

but highly disillusioned people. 

“Invariably, I would have loved 

to stand in for the gubernatorial 

race on the platform of the ACN as 

a vision-driven progressive party 

under the leadership of an equally 

dynamic leader, benefactor and 

mentor of mine, Tinubu. 

“But when it became apparent 

that party primaries for candidate 

selection was not likely to hold 

in the Ekiti chapter of the ACN/ 

APC, I had no choice at some 

point in the course of expressing 

my intent to offer our people a 

better leadership, than to move 

to another suitable party where 

I could be offered the ticket to 

contest in the ensuing governorship 

election. 

“All of us the candidates 

contested on different platforms 

for the number of seat in the 

state. But as we all know in any 

contest, someone must emerge the 

winner. Whether or not the contest 

was fair, posterity and the court 

of law shall judge. That is not the 

bone of contention for today’s press 

briefing. I sincerely urge you to 

let us defer that to another day. 

“Today, by the special leading of 

Almighty God and after the due 

consultation with my immediate 

family, friends, confidants and 

political associates within and 

outside Ekiti State, I, Hon. 

Opeyemi Bamidele, the federal 

lawmaker representing Ado/ 

Irepodun-Ifelodun Federal 

Constituency hereby wish to 

declare my intent to decamp to 

the APC as from today, Tuesday, 

May 19, 2015,” he said. 

Commenting further on his 

belief in progressive politicking, 

Bamidele said: “This was the 

more reason I felt comfortable to 

be part of the movement for the 

realization of the Buhari/Osinbajo 

project despite my membership 

of the Labour Party then. 

“It was an age-long vision of the 

progressives in the southern part 

of the country to join forces with 

equally visionary and progressive 

politicians in the North to rescue 

our nation from bad leadership 

and its attendant hydra-headed 

manifestations that have come 

to characterise Nigeria in recent 

history: corruption, poverty and 

insecurity,” he concluded. 

FG, Japan, Switzerland Sign 

$1.5m Support against Crime 

James Emejo in Abuja 

The federal government, Japanese 

and Swiss governments have 

signed three new projects to bolster 

Nigeria’s fight against organised 

criminal activities in the country. 

The projects include a Japanese 

government funded fight against 

trafficking in persons (TIP) in 

Nigeria as well as strengthening 

national response to security threats 

through enhanced border control 

The Swiss support is in the 

area of capacity building to the 

National Agency for the Prohibition 

of Trafficking in Person (TIP). 

The three projects will be 

implemented through the United 

Nations Office on Drugs and 

Crimes (UNODC). 

Speaking at the signing 

ceremony in Abuja, the Minister 

of National Planning Commission 

(NPC), Dr. Abubakar Sulaiman, 

who signed on behalf of the 

federal government, expressed 

government’s appreciation for 

the supports, promising that the 

projects would provide necessary 

support to the government of 

Nigeria in the area of enhanced 

criminal justice, responses to curb 

terrorism and human trafficking 

in the country. 

The Japanese and Swiss 

governments were respectively 

represented by Mr. Masaya Otsuka, 

the Charge’ d’ Affaires Ad Interim 

and Mr. Daniel Cavegen, Charge’ 

Enwefah Passes on 

The Enwefah family of Aragba- 

Orogun in Ughelli North Local 

Government Area in Delta State 

has announced the death of their 

matriarch, Madam Udodor 

Enwefah (nee Wanogho) at 

the age of 115. 

Enwefah passed away on 

March 29, 2015, having been 

the oldest living child of the 

legendary Chief Wanogho, a 

famous Okpara-Uku of Orogun 

clan. 

She is survived by six children, 

38 grand children, 47 great grand 

children and four great-great 

d’ affaires Embassy of Switzerland 

in Nigeria. 

The minister noted that the 

country has been faced with 

insurgency in the last five years 

stressing that that lately efforts of 

President Good luck Jonathan led 

government have yielded positive 

result in curbing the insurgency 

menace in the country. 

He said: “As we all aware, 

Nigeria has been faced with 

insurgency especially in the last five 

years with particular concentration 

in the North-eastern part of the 

country. We thank God that the 

present administration under the 

leadership of President dedluck 

Jonathan has been working 

tirelessness to root out the 

insurgents and the efforts 

have yielded tremendous 

positive results lately. Many 

hostages including women and 

girls have been freed in the 

process.” 

In a statement by the Head 

of Media, NPC, Mr. Salisu 

Haiba, he said the present 

government was addressing 

the issue of the resettlement of 

the Internal Displaced Persons 

(IDPs) both in the North and 

Nigerians from the neighbouring 

countries, as well as making 

tremendous efforts in bringing 

back normalcy to the insurgency 

affected areas, especially the north 

Eastern region and restoration of 

their local market. 

grand children. 

In a statement, the deceased 

family said: “Mama who was 

a devout Christian and a 

renowned trader will begin her 

homeward journey on May 21 

with a vigil mass at St Joseph’s 

Catholic Church, Aragba-Orogun 

to be followed with a requiem 

mass on May 22 at the same 

Church. Interment will take 

place at Orogun main town.” 

The statement added that 

a thanksgiving service would 

round off the rites on May 24 

at Aragba-Orogun. 

OVER TO YOU SIR 

Yobe State Governor, Alhaji Ibrahim Gaidam (left), receiving a report on the condcut of the 2014 Hajj exercise from the Amirul Hajj and 

leader of the state delegation and Emir of Bade, Alhaji Abubakar Umar Suleiman in Damaturu...yesterday 

Gates Foundation, Dangote Group, MTN Set for 

Lagos International HR Conference 

Sunday Okobi 

The Bill and Melinda Gates 

Foundation, Dangote Group, 

MTN, GTBank, among others 

will join an array of more than 

20 leadership experts across the 

world at the upcoming Human 

Resources (HR) Leaders Africa 

2015 Conference in Lagos from 

June 8 to 11. 

According to the organisers, the 

conference is to share insights on 

unlocking the potential of human 

capital in Africa. They said the 

Deputy Director of Employee 

Communications of the Bill 

and Melinder Gates Foundation, 

Rodney Jordan, will specifically 

join to discuss rethinking HR and 

how internal communications can 

drive employee engagement. 

A statement issued yesterday 

which was made available to 

THISDAY by the Operations 

Director, Dr. Adewale Balogun, 

noted that in addition to Jordan, 

the fourth edition of the four-day 

conference will also feature the 

ultimate gathering of HR leaders 

across Africa including HR 

directors at Shell, Arcelormittal, 

Dangote Group, GlaxoSmithKline, 

Chevron, Vodafone Ghana, MTN, 

Flour Mill Group, British American 

Tobacco, GTBank and Stanbic among 

others to speak at the landmark 

conference. 

“The conference therefore 

represents the ultimate think-tank 

gathering of HR leaders in the region 

to elevate human capital practices 

in Africa and develop talent across 

Africa,” the statement said. 

One of the organisers of the 

event, Kenneth Mukasa, who is the 

Programme Director of HR Leaders 

Africa said: “With Africa’s economies 

registering growth rates of over five 

percent for the last decade, Africa 

is shedding its skin and adopting 

a challenger mindset to achieve 

parity with global competitors. 

Adopting a strategic approach to 

HR and building Africa’s workforce 

capability to compete globally will 

be the key to unlocking Africa’s 

potential.” 

The statement said a flagship 

study conducted by Informa of 

85 leaders in the run-up to the 

HR Leaders Africa conference 

shows that transforming HR into 

a strategic partner of the business 

and implementing talent retention 

strategies are the two emerging 

themes in Africa. 47 per cent 

of survey respondents cited 

transforming HR into a strategic 

business partner as a top priority. 

The HR Director of Sahara 

Group, Ibiene Okeleke, said: “In 

the last five years, HR experts in 

Africa have become more strategic 

especially because organisation 

have realised the critical role that 

HR has to play in delivering the 

people agenda.” 

As for implementing talent 

retention strategies, up to 44 

percent of organisations said its 

one of their top priorities. “Some 

of the key drivers for retaining 

top talent include a competitive 

pay/welfare package, excellent 

work environment, a company 

culture that respects the individual/ 

diversity, provides growth 

opportunities and allows people 

to express themselves,” Director of 

HR and Medical, Chevron Nigeria, 

Ihuoma Onyearugha, said. 

In the statement, it was learnt 

that four in-depth workshops 

organised with academic partner, 

George Washington University will 

focus on the potential strategic 

advantage that organisations can 

gain through best practice and 

high performance HR.

52 THISDAY•WEDNESDAY MAY 20, 2015 

WEDNESDAYSPORTS 

Group Sports Editor Duro Ikhazuagbe 

Email duro.ikhazuagbe@thisdaylive.com 

Danagogo: Nigeria Cannot 

Afford a Foreign Coach Now 

Olawale Ajimotokan in Abuja 

Sports Minister, Tammy Danagogo, 

has admitted that government 

opted to reappoint Stephen Keshi 

as the Super Eagles coach because 

the country was not in a position 

to hire a foreign coach. 

Danagogo was the biggest 

backer of Keshi whose bid to 

be reengaged as the national 

coach was frustrated by the 

Nigeria Football Federation 

(NFF) after he fell short in the 

task of guiding the Super Eagles 

to the last Africa Cup of Nations 

in Equatorial Guinea. 

The outgoing minister reasoned 

that Keshi, whose monthly salary 

is N5million, is a good bargain 

as Nigeria is not in position to 

cough out N30 million which 

is the least amount any foreign 

coach would be asking monthly 

to handle the national team. 

“So hiring Keshi was a reasonable 

decision because we can meet 

the payment of his salary. But 

the same cannot be said of the 

federation to sustain paying the 

monthly bill of a foreign coach. 

In addition to that, I don’t follow 

the bandwagon that said we 

should employ a foreign coach 

who in reality is no better than 

the coach of Enyimba of Aba,” 

Danagogo said. 

Aside the argument against 

a foreign coach, the minister 

said Keshi was the sentimental 

favourite to return as the Eagles 

coach as he did not consider 

any other indigenous coach to 

be better than the Illa-born 

former Anderlecht of Belgium 

defender. 

“That is also area where I 

held contrasting opinions with 

the Nigeria Football Federation 

(NFF). When they were looking 

for a local coach, I said none 

of the local coaches they were 

banding are better than Keshi in 

terms of exposure and knowledge 

and cannot be entrusted with 

the national team. The other 

good coaches- Samson Siasia 

and Manu Garba- are currently 

engaged with the national junior 

teams,” recalled Danagogo. 

Meanwhile, the President of 

the NFF, Amaju Pinnick, has said 

that the federation was considering 

transforming the FIFA Goal 

Project into a world-class hostel 

for the national U-17 team, the 

Golden Eaglets. 

“We want to turn the place 

around in addition to organising 

a training programme for the 

congress,” Pinnick said. 

The FIFA Goal Project was 

commissioned in 2009 at the cost 

of $950,000 under a development 

package given to developing 

nations. 

Chiamaka Madu (3rd left) and Yusuf Jaiyeola (right) of Sharks up against Gabros FC’s Thompson Emmanuel (2nd right) during their Match Day 

9 clash...last weekend 

Keshi 

CBN Open: Melissa, Mcleod, 

Agugbom Cruise on 

Russia-born Nigerian Melissa 

Ifidzhen made a winning debut 

playing in the country as she 

eased past Henrietta Ogude 

6-1, 6-1 to set up a second 

round clash with number two 

seed Sarah Adegoke as the 37th 

Central Bank of Nigeria Open 

Senior Tennis Championship 

hots-up at the National Stadium, 

Lagos. 

The 16-year-old made light 

work of her opponent hitting 

series of winners but admits she 

had to raise her game if she will 

have to go all the way. 

“I’m happy I won because 

historically this is my first match 

in Nigeria. I hope to play better 

Melissa 

in my next game,” she said. 

Standing between the former 

Russian U-12 champion and a 

place in the third round is Adegoke 

who brushed aside Ebere Fortune 

6-1, 6-2. Adegoke, incidentally, is 

Melissa’s doubles partner and the 

pair was scheduled to complete 

their doubles match a tie-break 

decider against Christy Agugbom 

and Blessing Samuel on Tuesday 

evening. 

Joining Ifidzhen and Adegoke 

in the second round is Aminat 

Quadri, who recovered from a set 

down to beat Christie Mbadiwe 

2-6, 6-3, 6-3 while Afolarin Akosile 

also matches on following a 7-5, 

6-2 winner over Ngozi Dirisu. 

Other players that progressed to 

the second round of the women’s 

singles are Kelechi Njoku, Aanu 

Aiyegbusi, Omotayo Osewa and 

Agugbom who will meet Angel 

Mcleod, a fast-rising teenager in 

the second round. 

In the men’s singles, Albert 

Bikom defeated Jonathan Okwudili 

6-2, 7-5 to move to the second 

round just as Ikechukwu Iloputa 

made a strong finish to beat 

Emmanuel Paul after losing the 

first set. Iloputa won 5-7, 6-4, 6-4. 

Emmanuel Sunday, Joseph Imeh 

and Mohammed Mohammed 

also advance after recoding wins 

yesterday. 

GLO PREMIER LEAGUE 

Top Three Teams in Tricky Games of Match Day 10 

League goes on break till June 14 

George Akpayen 

Midweek contests are back on the 

plate once more, and this time 

there will be tantalising match-ups 

in the Glo Premier League Match 

Day 10 today that will signal a 

three-week recess till June 14. 

The top-three teams, Sunshine 

Stars, Gabros FC and Wikki Tourists, 

are all tied on 17 points and 

they are up for some feisty games 

that could see them either win 

or drop points and potentially 

change the complexion at the 

top of the ranking. 

The Big Two, Enyimba and 

champions Kano Pillars, have 

thrown themselves back in the 

ring with victories on the road 

at the weekend and will aim 

to continue their push on the 

pacesetters in the top division. 

FIXTURES 

Sunshine Vs Kwara Utd 

Kano Pillars Vs Gabros 

Bayelsa Utd Vs Wikki 

Sharks Vs Giwa FC 

FC Taraba Vs Dolphins 

Enyimba Vs El-Kanemi 

Lobi Stars Vs Heartland 

Akwa Utd Vs 3SC 

Rangers Vs Nasarawa 

TOMORROW 

W’Wolves Vs A’Warriors 

League leaders Sunshine Stars 

return home after snatching a draw 

at Nasarawa United at the weekend 

from the jaws of defeat. But they 

have no fewer than seven teams 

on their tails and any slip up will 

see them drop off from the top of 

the table. 

Kwara United had the chance to 

rest at the weekend as Warri Wolves 

were on the continent in the CAF 

Confederation Cup. The Harmony 

Boys start the match day in 10th 

place. But they have not beaten 

Sunshine Stars since 2012 and will 

aim to halt that run of poor results 

against their rivals. 

With the number of away wins 

growing by every match day, many 

pundits now feel that Kano Pillars’ 

invincibility at home spanning over 

11 years looks under threat. But the 

MILO B’BALL CHAMPIONSHIP 

Lagos, Oyo Rule Western Conference 

Ilupeju Grammar School 

Lagos and Yejide Grammar 

School Ibadan, Oyo State 

have emerged champions in 

the boys and girls’ categories 

respectively in the western 

conference of 17th edition of 

Nestle Milo Secondary Basketball 

Championships concluded at 

the indoor sports hall of Liberty 

stadium Ibadan. 

champions have recovered from their 

recent poor run on the road to claim 

1-0 win at Abia Warriors on Sunday, 

and are now poised for their 194th 

unbeaten run home. 

Gabros now stand between Pillars 

and the number 194. The Nnewibased 

club have done so well since 

returning to the top flight after 10 

years in the lower division. Gabros 

sit pretty in second place and will 

look to dare where most Nigeria 

Professional Football League (NPFL) 

clubs have stuttered though they 

have never won in Kano against 

Pillars in the premier league era. 

Bayelsa United were just 15 

minutes away from securing a draw 

at El-Kanemi and that stretched 

their run without a win to five. It 

will be one month, one day since 

Bayelsa United last won a game in 

To emerge victorious in the 

boys’ category, Ilupeju Grammar 

Lagos, out dunked Don Domingo 

Secondary School Warri, Delta 

State by 37-28. Coach Olayinka 

Oyewunmi of Ilupeju Grammar 

School revealed after the victory 

that his team had proven its 

capabilities by qualify for National 

final from Western Conference. 

In the girls’ final, western 

the league and will be all out to 

claim the full points under coaches 

George Ederekumoh and Samke 

Nyanabofa. 

Wikki have continued to grind 

out results since their return to the 

NPFL and quietly too. Their coach, 

Abdu Maikaba appears to be working 

magic with the Bauchi club who are 

in third place, but they will come 

up against a Bayelsa United side 

condemned to win their first league 

match in a month. 

It is three games without a win 

in all competitions for Giwa FC, and 

they are yet to score in two league 

games in the scoreless draw against 

FC Taraba at home and at Enyimba. 

But the Elephants of Jos are always 

capable of surprises like they have 

shown at Rangers, Lobi Stars and 

even at Enyimba. 

conference defending champion, 

Yejide Grammar School Ibadan, 

confirmed their berth in the 

national final after defeating 

Zeal College Otta Ogun State 

by 37-21. 

Captain of Yejide Grammar 

School, Ibadan Matthew Busayo, 

said after the match, “we are very 

happy to made it to national final 

in Lagos.

THISDAY•WEDNESDAY MAY 20, 2015 

WEDNESDAYSPORTS 

53 

Okagbare-Ighoteguonor: More Right, 

Less Wrong 

“Sometimes I get it right, sometimes 

I get it wrong,”said Blessing 

Okagbare-Ighoteguonor when 

talking about her 100m running. 

Sunday night in Shanghai, 

China was one of those occasions 

Okagbare-Ighoteguonor, 

now going by her hyphenated 

married name, got it right. 

Facing a field of big-name 

sprinters including Olympic 

and world champion Shelly-Ann 

Fraser-Pryce, last year’s world 

leader Tori Bowie, fastest in the 

field this year Michelle-Lee Ayhe 

and Veronica Campbell-Brown, 

Okagbare-Ighoteguonor responded 

by trouncing them all. 

Cool overcast conditions arguably 

put a damper on the times, 

but Okagbare-Ighoteguonor won 

by almost a full metre in 10.98. It 

was a stunning victory, both in 

itself and in its comprehensiveness. 

This performance prompted 

the thought: why is Okagbare- 

Ighoteguonor’s chances so often 

ignored in this sort of race? 

Again in Shanghai, all the talk 

beforehand was about others, 

naturally so given some of the 

names, but unwisely so in that it 

under-rated the ultimate winner. 

Maybe it is the curse of 

versatility. 

Okagbare-Ighoteguonor’s talents 

across sprints and jumps are 

prodigious. Maybe because she 

is so good at all, people tend to 

discount that possibility she can 

be excellent at one or, at least, 

one at a time. 

Maybe when it comes to 

the sprints, it is because of her 

obviously erratic start. 

Usain Bolt talked about his ‘poor’ 

starting so often in the early stages 

of his 100m sprinting, but rarely, 

if ever, did he get a shocker. 

Okagbare-Ighoteguonor seems 

to do so regularly. Indeed, it was 

hard to pick the greater shock 

in Shanghai. Was it the fact she 

won, or the fact that she was in 

the lead the whole way and had 

it won at 40 metres? 

She alluded to this herself after 

the race. “Normally I don’t have 

the best start, but now I was 

leading from the beginning,”said 

the Nigerian sprinter. 

It was a familiar scenario. 

Okagbare-Ighoteguonor ran 10.79 

at the IAAF Diamond League 

meeting in London in 2013 before 

finishing sixth in the 100m at the 

IAAF World Championships in 

Moscow. But it does prompt the 

question: can she make a real 

charge at being the No.1 in the 

world this year? 

“I feel, I think and I hope I 

can,”Okagbare-Ighoteguonor told 

reporters after her Shanghai win. 

“I’m working towards it. I hope 

it happens.” 

The other cautionary note – 

which the athlete also echoed – is 

that it is still early in the season. 

As David Oliver had put it a 

day earlier: “The home run you 

hit last night doesn’t win today’s 

game.” 

The season, as Fraser-Pryce 

observed, is still young. People 

are at different stages of their 

preparations with the IAAF World 

Championships in Beijing still three 

months away. 

But it is never too early to 

build confidence and Okagbare- 

Ighoteguonor laid a fair foundation 

on Sunday night. 

“It does (give me confidence),” 

she said of her win, “but it doesn’t 

change anything. There’s a lot of 

talented people out there, like me, 

so I just have to keep working 

hard. I don’t want to be left behind. 

“A performance like that 

gives me a little edge and a bit 

of confidence but I still have to put 

more work in and keep pushing 

forward.” 

The main thing Okagbare- 

Ighoteguonor has been working 

on is the first 40 metres of her 

100m. Put that part of the race 

together and the rest should take 

care of itself. 

“There’s been a lot of work 

going on,” she said. 

“My coach told me ‘don’t worry 

about the time, just go out and 

execute’. I think that’s what I 

did and after 40 metres it felt 

extremely easy for me to go.” 

Despite her win, and despite 

last year’s 10.85/22.25 sprint 

double at the Commonwealth 

Games, Okagbare-Ighoteguonor 

said she still feels like a novice 

in the straight sprint. 

“Sometimes I get it right; 

sometimes I get it wrong. If I 

get it right – which I did today, 

not 100 per cent, but 70 – it 

feels extremely easy.” 

Perhaps not surprisingly, this 

tallies with the feeling you get 

watching her run the 100m. 

If she is up and running 

early, you just know Okagbare- 

Ighoteguonor is going to be hard 

to beat, because she comes home 

like a train. 

Last year, Okagbare- 

Ighoteguonor won a 200m/ 

long jump double in Shanghai. 

Diamonds may be rare, and 

IAAF Diamond League doubles 

are perhaps even rarer still, but 

her recent focus has been more 

on the sprints than the long 

jump. 

So will she long jump this 

year? 

“I will,”she promised, “because 

I just want to see how far I can 

jump.” At the minute, her best 

is 7.00m, which she produced 

in 2013. 

In medal returns, there is 

little to choose between long 

jump and sprints. Okagbare- 

Ighoteguonor has an Olympic 

bronze in the long jump from 

2008 and a World Championships 

bronze in the 200m from 

2013. 

It seems there must be more 

there. 

Okagbare-Ighoteguonor’s win 

on Sunday suggests that if she 

can keep her focus on keeping 

her focus during the first 40m of 

her 100m, she could find herself 

standing on the podium when 

she comes back to China in 

August. Maybe even the top step. 

-Culled from IAAF 

Okagbare-Ighoteguonor...good start to the outdoor season 

Morgan, Caxton-Martins, Claim 

MTN Golf Top Prizes 

We Want Youths to Aspire to Be Like 

Ogwumike, Others, Says Udeagha 

Golfers and enthusiasts of the sport 

were treated to an impressive and 

exciting tournament sponsored by 

Nigeria’s leading ICT company, 

MTN Nigeria at the luxuriant 

Lakowe Lakes last weekend. 

At the exciting competition, 

the male net category saw the 

Commandant of the Armed Forces 

Resettlement Centre, Oshodi, Air 

Vice Marshal Monday Morgan, who 

played off Handicap 18, carding an 

impressive score of 91 gross and 73 

net to finish top. 14 handicapper, 

Shina Luwoye, placed second with 

88 gross and 74 net, while Mukoro 

L-R: Commandant, Armed Forces Resettlement Centre, Oshodi, Air 

Vice Marshal Monday Morgan, and Executive Secretary, Ikoyi-Obalende 

LCDA, Toyin Caxton-Martins, both winners of the male and female categories 

of the MTN Golf Challenge…last weekend 

Voka, a 13 handicapper was third 

with 87 gross and 74 net. 

Playing off Handicap 30, 

Executive Secretary of the 

Ikoyi-Obalende LCDA, Toyin 

Caxton-Martins, won the female 

net category, after carding 102 

gross and 72 net. 

She was followed by a 25 

handicapper, Linda Obieze with 

106 gross and 81 net and Olabisi 

Luwoye, a 22 handicapper with 

106 gross and 84 net. 

For their efforts, the winners 

received an all-expenses paid 

golfing weekend in George, 

South Africa, plus a trophy and 

three months data subscription 

bundle while the runners up 

were rewarded with trophies as 

well as a golfing weekend at the 

Le Meridien Ibom Hotel & Golf 

Resort, Uyo and free one month 

data subscription. 

Speaking at the event, Chief Executive 

Officer, MTN Nigeria, Mike 

Ikpoki, reiterated the company’s 

unwavering commitment to the 

development of golf in Nigeria. 

ExxonMobil Media and 

Communications Manager, Oge 

Udeagha, has said that the essence 

of bringing top players for the 

basketball and life-skill project 

is to give the over 300 youths 

involved something to aspire to. 

Speaking during the second 

launch of the Power Forward 

project in Abuja, Udeagha said 

that ExxonMobil was happy with 

the impact the programme was 

having on school children who 

participate in it. 

“We are glad at the impact 

that the role models are having 

on the kids. Olumide Ayodeji the 

Nigerian senior male basketball 

team captain and Chiney Ogwumike, 

the Connecticut Sun 2014 

WNBA rookie-of-the-year are 

great examples of people who 

have achieved a lot during a very 

young age who are tremendous 

inspiration for the youths here,” 

the ExxonMobil executive noted. 

The Power Forward pilot 

programme was launched in 

2013 in partnership with the 

ExxonMobil, NBA, Africare, local 

school and education officials. 

It had Nigerian Hall of Fame’s 

Hakeem Olajuwon, former NBA 

player, Obinna Ekezie, and 

three-time WNBA champion, 

Swin Cash, in attendance. 

The event is in partnership 

with the National Basketball 

Association and Africare where 

basketball is used to develop 

health, leadership and life skills 

among Nigerian youth. 

The second season of the Power 

Forward programme includes 

basketball games, clinics, life skills 

seminars and train-the-trainer 

sessions for coaches. It is to 

culminating in a 2015 boys and 

girls’ Power Forward final game. 

At the launch, ExxonMobil 

Nigeria Upstream Treasurer, Anibor 

Kragha, said that the company’s 

philosophy for supporting the 

project was that, “a productive, 

healthy and educated society is 

a place to do business” 

The Power Forward curriculum 

incorporates leadership training 

and health awareness through a 

combination of classroom and 

athletic activities, with student 

evaluations at different stages of 

the initiative. In addition, each 

school has a coach assigned to 

oversee the curriculum, guide 

students through lessons, and 

monitor progress. 

Connecticut Sun’s Ogwumike 

who visited some of the Power 

Forward school centres in Abuja 

said that, “The Power Forward 

programme is a great example 

of how the values of basketball 

are important in everyday life 

and help build social cohesion.” 

The Stafford University graduate 

said she was thrilled to be back 

in Nigeria for the programme’s 

second year and to work with 

these young boys and girls. 

ExxonMobil, through Non- 

Governmental Organisation’s and 

its affiliates support community 

investment investments programs 

focusing on capacity building, 

education and health, especially 

among youth and women.

THISDAY WEDNESDAY MAY 20, 2015 

A

B 

WEDNESDAY MAY20, 2015 THISDAY 

TENDER FOR THE PROVISION OF CALL CENTER SUPPORT SERVICES 

FOR NNPC CORPORATE HEADQUARTERS, ABUJA 

1.0 INTRODUCTION Provide evidence (personnel list and position organizational 

The Nigerian National Petroleum Corporation (NNPC) invites reputable IT 

chart) percentage of management that are Nigerian nationals 

solution providers with proven experience and capacity to submit expression of 

and the percentage of the total workforce that are Nigerians. 

interest for pre-qualification for the provision of Call Center Support Services for 4.9 Detail past/present commitment to staff training and 

its Corporate Headquarters in Abuja as highlighted below: 

development of Nigerian personnel. 

4.10 Evidence of financial capability/Bank reference. 

2.0 BRIEF DESCRIPTION OF THE PROJECT (SCOPE OF WORK) 4.11 Evidence of relevant verifiable work experience on similar service 

The call centre support service shall include but not limited to provision and 

in Nigeria over the past five (5) years. Please attach reference 

management of twenty (20) support engineers that will carry out the following 

letter. 

tasks: 4.12 List of verifiable similar service detailing companies that the 

(a) Attending to calls at the Call Centre between the hours of 8.00am service rendered to. Company full contact address (Not P.O. Box), 

and 5.00pm on work days 

Functional phone numbers and e-mail address. 

(b) Resolve such calls relating to all incidents in the areas of : 4.13 Confirm willingness to commence with the execution of this 

· Hardware: Diagnosis and problem isolation, cards installation service on the basis of a letter of intent (LOI). 

· LAN: Network connectivity and 4.14 Company's CASHES and QA/QC Policy &Details of safety records 

· Internet: Connection and browsing related issues 

for accidents, incidents, injuries and damages for the past three 

· Email: MS Exchange/Outlook issues 

years e.g. Lost time incident, Down-Time etc. 

· Applications: Microsoft Application Software (MS Office, Visio, 4.15 Evidence of registration with Corporate Affair Commission (CAC). 

Project, ISA) 

4.16 Any additional information that will enhance the potentials of the 

· Operating Systems: MS Windows XP/7/8, Android, IOS 

· Threat management; including Viruses, Worms, Trojans and 

company. 

Spywares 

NOTE: Failure to meet any of 4.1 – 4.6 above is a “FATAL FLAW”. 

(c) Escalate problems that cannot be resolved in accordance with 

established procedures 

5.0 SUBMISSION OF PRE-QUALIFICATION DOCUMENTS 

(d) Calls from the following offices will be covered: 

All prospective contractors shall submit one original and one photocopy of preth 

th 

· All Floors in Blocks A, B and D (except 5 –11 Floors of Block D) qualification documents on A4 format neatly bound. The document shall be in 

st th 

· All floors in Block C, except 1 – 6 floors (PPMC Offices) 

single package sealed and marked “PRE-QUALIFICATION FOR CALL 

· NNPC Medicals, Usuma Street, Maitama 

CENTER SUPPORT SERVICE FOR NNPC CORPORATE 

· Other offices identified by ITD within Abuja 

HEADQUARTERS, ABUJA”. 

(e) Any other assigned tasks related to Technical user support 

The sealed package should be addressed to reach the address given below, not 

3.0 SUBMISSION OF EXPRESSION OF INTEREST 

th 

later than 15:00hours, Friday, 26 June, 2015. 

All companies wishing to express their interest to tender for this service shall 

submit relevant documentation for pre-qualification as stipulated in 4.0 below. 

The Secretary, 

Only companies that are adjudged successful in the pre-qualification exercise 

E&T DEXCOM Tenders Board, 

shall be invited to collect tender documents for the service as described in 2.0 

Block D, First Floor, Room 45B, 

above. 

NNPC Towers, 

Central Business District Abuja 

4.0 PRE-QUALIFICATION REQUIREMENTS 

6.0 IMPORTANT INFORMATION 

NNPC in compliance with the provisions of Public Procurement Act 2007 and 

It must be noted that: 

Bureau for procurement guidelines, request interested companies to submit 

6.1 Only shortlisted companies will be contracted. 

the details listed below in their pre-qualification bid documents: 

6.2 Late submission shall be rejected. 

4.1 Full details of company profile with Certificate of Incorporation in 

6.3 Your registration on the NIPEX portal shall be an added 

Nigeria, certified true copies of memorandum and article of 

advantage. 

Association of the company and CAC form C02 and C07 

6.4 Your company shall provide NNPC with a letter of Authority 

(Particular of Directors ). 

to verify all claims made in your submissions. 

4.2 Company Tax Clearance Certificate for the last three (3) years 

6.5 Please note that this is not an invitation to tender. Only 

(2011, 2012 and 2013). 

Companies adjudged qualified by NNPC under this pre- 

4.3 Evidence of VAT registration and Remittance. 

qualification procedure will be invited to participate in the 

4.4 Evidence of compliance with part IV, 16(6d) of the Public 

competitive tender. 

Procurement Act 2007 as it relates to PENSION (Certificate or 

6.6 NNPC reserve the absolute discretion and right to either accept or 

exemption from PENCOM) and section 1(2) Pension Reform Act 

reject any documents and it shall not be required to assign a 

2004. 

reason for refusal to invite your company to participate in the 

4.5 Evidence of compliance with the Industrial Training Fund (ITF) 

bidding exercise or to enter any correspondence concerning the 

Amendment Act 2011 by inclusion of copy of Compliance 

selection of any contract for the services. 

Certificate from the Industrial Training Fund. 

6.7 All claims must be adequately substantiated and verifiable. NNPC 

4.6 Audited account for the past three (3) years (2011, 2012 & 

shall deal directly with only authorized officers of the interested 

2013). 

companies and not through individuals or agents (ownership is 

4.7 Nigerian Content plan that demonstrate full utilization of Nigerian 

therefore essential). 

Labour and services with detailed description of role, work scope 

6.8 All costs incurred by your company as a result of this preand 

man-hours in order to achieve minimum target as set out in 

qualification exercise and any subsequent request for 

the requirements of the NOFICD Act 2010. 

information shall be to your account. 

4.8 Current and in-place organizational structure with detailed 

6.9 The pre-qualification and any related process neither creates any 

experience and skills of key management personnel with names. 

commitment by; NNPC nor establish any legal relationship.


C 

20 

Dr. 

Date: 20 May, 2015 Time: 11am. 

Venue: 10 Degrees Event centre, Billings Way, Opposite UNILEVER, Ikeja , Lagos.

D 

WEDNESDAY MAY20, 2015 THISDAY 

SHORELINE NATURAL RESOURCES LIMITED 

PARTICIPATING INTEREST IN OIL MINING LEASE (OML30) 

Shoreline Natural Resources Limited (SNRL) acquired a 45% Participating Interest 

in OML 30 from the Shell Petroleum Development Company in November 2012. The 

Asset includes Oilfields and a 95km segment of the Trans Forcados Pipeline, which is 

the major pipeline that evacuates oil from all production assets in the Western Delta 

Region. The pipeline serves as an artery for the evacuation of about 400,000 bpd per 

day for several companies. The Nigerian Petroleum Development Company (NPDC) 

is the Operator and holds the remaining 55% of the Participating Interest in OML 30. 

 

Evidence has shown that the performance of OML30 and other recently 

divested assets managed by NPDC have been much worse than divested 

assets managed by private investors. This has led to a significant shortfall to 

the national revenue and made it difficult for indigenous asset owners to 

meet their debt obligations to lenders. 

Increased bunkering and other 3 rd party interferences within the last 12 

months have led to oil and gas productions shutdowns that threaten our joint 

financial existence and also the gas supply to power plants. The ongoing 

NPDC Union strike that has forcibly shut down all NPDC operated assets has 

only made a terrible situation worse. 

 

 

 

The Federal Government has taken a bold action to support and promote the 

Joint Operatorship Model (JOM) as a way to turn around and increase the 

dwindling production in the current operatorship model. 

We believe strongly that a JOM is the best way out of this worsening situation. 

We see this as a win-win scenario for NPDC and indigenous private asset 

owners and more importantly the Nigerian people. 

The strategy of the government is to enhance the performance of all divested 

assets were the NPDC has 55% Participating Interests through a JOM rather 

than the outright Sale of the Assets as erroneously suggested by the Union 

and some segments of the Press and this should be applauded and supported 

by all concerned. 

SIGNED 

MANAGEMENT OF SHORELINE NATURAL RESOURCES LIMITED


E

F 

INTERNATIONAL 


email: foreigndesk@thisdaylive.com 

Egypt’s Death Sentences Worry UN, 

Turkey 

United Nations and 

Turkey have expressed 

deep concern about the 

death sentences handed 

down in Egypt to former 

President Mohamed Mursi 

and other Islamists, while 

Turkey warned of Middle 

East turmoil if they are 

carried out. 

The United Nations 

Secretary-General, Ban Kimoon, 

said he would closely 

monitor the appeals process 

for the death sentences and 

urged actions that would 

promote the rule of law. 

The U.S. State Department 

said Egypt’s practice of 

mass trials and sentences 

was unjust and often used 

against members of the 

opposition or non-violent 

activists. 

“We are deeply concerned 

by yet another mass death 

sentence handed down by an 

Egyptian court to more than 

100 defendants, including 

former President Mursi,” 

State Department spokesman 

Jeff Rathke told reporters in 

Washington. 

An Egyptian court on Sunday 

sought the death penalty for 

Mursi and 106 supporters of 

his Muslim Brotherhood, in 

connection with a mass jailbreak 

in 2011. A final ruling 

is expected on June. 

In Ankara, Turkey’s 

presidential spokesman warned 

the Middle East would be 

thrown into turmoil if Egypt 

carried out its death sentences. 

Ibrahim Kalin said the 

sentences were a “breach of 

justice” and called on the 

international community 

to speak out more strongly 

against them. 

“The subject demands 

universal attention. The 

execution orders and carrying 

them out will push the Middle 

East into turmoil,” he told 

reporters. 

Turkey would work with 

the U.N. Human Rights 

Commission after the sentences, 

and take “all necessary steps”, 

he added. 

Turkish President, Tayyip 

Erdogan, is a supporter 

of Mursi, Egypt’s first 

democratically elected president, 

and relations with Egypt have 

soured since the army forced 

Mursi from power in 2013. 

Diplomatic ties between 

the former regional allies 

were broken off after Erdogan 

repeatedly accused the new 

Egyptian government of 

carrying out a coup. 

Speaking to Egypt’s state 

news agency, an unidentified 

Egyptian official said Cairo 

was not surprised by Turkey’s 

comments. 

“The current regime in 

Turkey is a reflection of the 

ideas of the terrorist Muslim 

Brotherhood,” the official added. 

The Turkish government’s 

backing for the Muslim 

US: Passengers Sue Amtrak over 

Philadelphia Derailment 

Four passengers on the Amtrak 

commuter train that derailed in 

Philadelphia last week have filed 

a federal lawsuit against the 

U.S. rail service, as operations 

resumed on the heavily travelled 

Northeast Corridor. 

The lawsuit, filed in 

Philadelphia, cited “serious and 

disabling” injuries from the May 

12 derailment that killed eight 

people and injured more than 

200 others. 

Nearly a week after the derailment, 

it remains a mystery what 

caused the train to accelerate 

from 70 miles per hour (113 km 

per hour) to 106 mph (171 kph) 

in the minute before the crash. 

Authorities have not yet ruled 

out equipment malfunction, 

human error or other possible 

reasons for the train gaining 

speed so rapidly. 

A Federal Bureau of Investigation 

examination of a 

circular pattern of damage to 

the windshield of the derailed 

Amtrak train found no evidence 

it was caused by a firearm, the 

National Transportation Safety 

Board (NTSB) said on Monday. 

The NTSB, however, said it has 

not ruled out the possibility that 

another object may have struck 

the windshield. 

Train engineer Brian Bostian, 

32, who suffered a concussion, 

told investigators he has no 

memory of what occurred after 

the train pulled out of the North 

Philadelphia station, just before 

the crash. 

The lawsuit appeared to be the 

first filed by a non-employee of 

the U.S. passenger rail service. 

Last week, an Amtrak worker 

who was riding the train as a 

passenger, filed the first lawsuit, 

citing a brain injury he said he 

suffered in the crash. 

The latest passengers’ lawsuit, 

seeking unspecified damages, 

accused Amtrak and Bostian 

of negligence and recklessness. 

Filing the suit were two Spanish 

citizens, Felicidad Redondo 

Iban and Maria Jesus Redondo 

Iban, as well as Daniel Armyn 

of New York and Amy Miller 

Brotherhood and Islamist groups 

across the Middle East has harmed 

Ankara’s relations with other 

regional partners, including Saudi 

Arabia and Libya, since the Arab 

Spring erupted four years ago. 

of New Jersey. 

Felicidad Redondo Iban has 

required several surgeries to 

avoid amputation of her right 

arm, according to the complaint. 

An Amtrak representative 

could not be reached immediately 

for comment. 

The train, headed from Washington 

to New York with 243 

people on board, was traveling 

at twice the 50 mile-per-hour 

speed limit when it entered a 

sharp curve and derailed just 

north of Philadelphia. 

Amtrak commuter service, 

suspended since the derailment, 

resumed early on Monday on 

the Northeast Corridor, the nation’s 

busiest passenger rail line.

H 

WEDNESDAY MAY20, 2015 THISDAY


INTERNATIONAL 

G 

‘Iran Violated Sanctions 

by Purchasing Aircraft’ 

A senior Israeli official took a 

swipe at Washington yesterday 

over Iran’s purchase of secondhand 

civilian aircraft, saying 

the acquisition violated U.S. 

sanctions and went ahead 

despite a tip-off from Israel. 

Iranian Transport Minister, 

Abbas Akhoondi, was quoted 

on May 11 by the Iranian 

Students News Agency as 

saying Tehran bought 15 used 

commercial planes in the last 

three months. He did not say 

who sold them or how they 

had been acquired. 

A long-standing ban on the 

export of aircraft spare parts 

to Iran was eased under an 

interim nuclear deal between 

Tehran and world powers in 

late 2013, but the U.S. sanctions 

regime continues to restrict sales 

of planes. 

“Israel learned from 

intelligence sources about 

this very significant breach 

of the sanctions in advance 

The mother of American 

reporter, Austin Tice, who has 

been missing in Syria for more 

than three years, believes her 

son is alive and well, urging 

Washington and Damascus to 

work together to free him. 

Tice went missing in 

Damascus in 2012 and the 

U.S. State Department said in 

March Washington had been in 

periodic, direct contact with the 

Syrian government regarding his 

case, a statement his mother said 

provided a glimmer of hope. 

“We ask both governments 

to work together and to work 

effectively to locate Austin and 

to secure his safe release,” 

Debra Tice told Reuters in 

Beirut yesterday during a trip 

to mark more than 1,000 days 

since he disappeared. 

She said the family had 

received information from 

unspecified sources about her 

son’s condition several weeks 

ago. 

“We hear that he is well, that 

he is safe, which is of course 

of it occurring,” the Israeli 

official, speaking on condition 

of anonymity, told Reuters. 

“We flagged the issue to the 

U.S. administration,” the official 

said. “Unfortunately, the deal 

still went through and there was 

no success in preventing it.” 

U.S. and Iranian officials 

could not immediately be 

reached for comment. The 

Israeli official’s comments 

appeared to be an attempt to 

portray the United States as 

being lax in enforcing current 

economic restrictions even as 

it promises to reimpose them 

if Iran fails to honor terms of 

a nuclear deal now under 

negotiation with six world 

powers including Washington. 

Israel, Iran’s arch regional 

adversary and widely believed 

to be the Middle East’s only 

nuclear power, says Tehran 

cannot be trusted to honor 

such an agreement. 

The official said the aircraft 

Mother of US Missing 

Reporter Cries for Help 

very important, and the most 

important thing is for us to stay 

patient.” Tice had worked for 

publications including Mc- 

Clatchy Newspapers and The 

Washington Post. His family says 

it is unclear who is holding him. 

Reporters Without Borders 

have been saying that 25 

journalists are being held by 

hardline groups in Syria, five 

of them foreigners. It says 30, 

mainly Syrian journalists, are 

in government prisons. 

“The Syrian government 

denies holding Austin Tice, 

but we believe that it has the 

ability, it can do a lot, so that 

Austin Tice returns home safe 

and sound,” Reporters without 

Borders Secretary-General 

Christophe Deloire told a news 

conference. 

He said Tice was not being 

detained by “religious extremist 

groups” and his mother told 

reporters he was not being held 

by “any part of the opposition.” 

“We do not know where he 

is nor who is holding him,” she 

were sold to an airline that 

had been blacklisted by the 

United States “because of its 

involvement with the Iranian 

Revolutionary Guards” and 

Lebanon’s Hezbollah guerrillas. 

The official did not name the 

company. 

But the Iranian state news 

agency IRNA said on May 12 

that Iran’s Mahan Air -- which 

is blacklisted by Washington 

-- recently acquired nine used 

Airbus commercial aircraft. 

IRNA did not identify the 

seller. 

London’s Financial Times 

reported last week the deal was 

brokered through a complex 

series of arrangements with 

apparently unwitting companies 

across Europe. 

The U.S. Commerce 

Department first blacklisted 

Mahan Air in 2008 after it found 

that the firm had imported three 

Boeing Co 747 jumbo jets into 

Iran without U.S. authorisation. 

said. “Someone, someone possibly 

near this place, knows 

something about my son and 

his whereabouts.” 

She said a friend of the 

family, who is known to 

Shi’ite Muslim leaders in 

Lebanon, had offered to act 

as an intermediary and called 

on her son’s captors to consider 

allowing that person to meet 

with her son. 

She said the U.S. government 

had not offered her 

family enough support and 

that there had been too long 

a delay in establishing contact 

with Damascus. 

“I grossly overestimated that 

those that I believed would be 

qualified in my government 

would step up to help my 

family.” 

The United States vowed last 

week to “work tirelessly” to 

bring him home. “I long to 

hold my son in my arms,” 

she said, holding back tears. “I 

want my family to be whole 

again.” 

UN: 25,000 Fled IS Attack on 

Ramadi in Iraq 

Close to 25,000 people fled 

the Iraqi city of Ramadi after 

it was attacked by Islamic 

State militants and most 

of them headed towards 

Baghdad, the United Nations 

said on Monday. 

United Nations and other 

aid agencies have begun 

distributing food, water 

and medical supplies as 

well as setting up temporary 

camps and latrines, the U.N. 

Office for the Coordination 

of Humanitarian Affairs in 

Iraq said. 

However, funds for aid 

operations in Iraq were 

running out and aid stocks 

were almost gone, it said. 

Ramadi fell to the militants 

at the weekend and those 

fleeing were thought to be 

escaping from Islamic State 

for a second time, having 

been among 130,000 who 

fled from the western Iraqi 

city in April. 

“Thousands of families 

who had fled earlier had 

returned to their homes in 

Ramadi, when fighting again 

broke out, forcing them to 

flee a second time,” the U.N. 

statement said. 

“Nothing is more important 

right now than helping 

the people fleeing Ramadi. 

They are in trouble and we 

need to do everything possible 

to help them,” the U.N. 

Humanitarian Coordinator 

in Iraq, Lise Grande, said 

in the statement. 

“Thousands of people 

had to sleep in the open 

because they didn’t have 

places to stay. We would 

be able to do much more 

if we had the funding, he 

added.” 

U.N. agencies and other 

aid organizations are giving 

life-saving assistance to more 

than 2.5 million displaced 

people and refugees in 

Iraq, but funding is nearly 

exhausted and 56 health 

programs will have to close 

by June, the statement said. 

“In July, the food pipeline 

will break,” it said. Shi’ite 

militia fighters arrived 

near Ramadi on Monday 

as Baghdad moved to retake 

the city.

54 WEDNESDAY MAY20, 2015 THISDAY 

PAINFUL EXIT 

It is with deep sorrow but with gratitude to 

Almighty God that the family of Late Chief 

Emmanuel Etim James (Ekep-Kep) of Asang 

Eniong Abatim announces the sudden and 

untimely demise of our dear son 

David Etetim James (Eteyen) 

(aka Stone) in Calabar on Saturday 

9th May 2015. He was aged 54. 

Obsequies are as follows: 

Thursday 21st May, 2015 

Opening of Mourning House 

Ayimo Estate, 74 Eta Agbor Road, Calabar 

Time: 7a.m 

Friday 22nd May, 2015 

Tribute Night 


Time: 4p.m to 6p.m 

Saturday 23 May, 2015 

Lying in State 


Time: 9a.m to 11a.m 

Funeral/Memorial Service 


Time:12 noon 

Interment at Hawkins Cemetery (Eyo Ita Axis) 

Parking is available at MDI Compound, 

Mary Slessor Avenue, Calabar. 

David Etetim James 

“ETEYEN” (aka Stone) 

He is survived by: 

Kimberly Etetim James and her child 

Elder High Chief Minika Etim James 

Obongawan Henshaw Town’ 

Chief Peter Ekeng James 

Chief Barbara Aimo-Offiong James 

Chief Emmanuel Archibong James 

Mr. Steven James 

Grp Capt Ita David Ikpeme (rtd) CON 

Mr Bassey Ikpeme 

Mrs Grace Oluseyi 

Mr Emmanuel Ikpeme 

Mrs Margaret Orokawan James 

Mrs Victoria Ekanem James 

Daughter and Grandchild 

Step Mother 

Brother 

Sister 

Brother 

Uncle 

Uncle 

Uncle 

Auntie 

Uncle 

Sister-in-law 

Sister-in-law 

Emmanuel Etim James (Jnr) Etete 

Nephew 

Emmanuel Archibong James (Jnr) Bobo 

Nephew 

Princess Minika James 

Niece 

Anabelle Eme James 

Niece 

Blessing Koko James 

Niece 

Olympia Jasmine James 

Niece 

Angel Emmanuella James 

Niece 

Barbara Ekanem James 

Niece 

Jenny Andrew James, Bassey Steven James, 

Sam Effiong James and Helen Nnenang Apiafi For Cousins 

Miss Christy Ikpeme and many other relations. 

Obongette 

His devoted Dog 

Signed: 

PETER JAMES 

For the family

Transition 

a nsGlory 

THISDAY WEDNESDAY MAY 20, 2015 55 

i 

t 

o 

n 

To 

With gratitude to God, the entire family of the 

Da-Silva of Popo Aguda (Brazilian Quarters), 

announce the passing to Glory of our Husband, 

Father, Grandfather, Brother, Uncle and Friend 

Sir Leo 

Babarinde 

DA-SILVA KSS 

AGED 66 YEARS (February 20th, 1949- May 6th, 2015) 

Former Secretary to the Lagos State Government 

F U N E R A L A R R A N G E M E N T S 

ST 

THURSDAY, 21 MAY, 2015 

CHRISTIAN WAKE KEEP 

at Harbour Point, 

4, Wilmot Road off 

Ahmadu Bello Road, 

Victoria Island. 

Time: 5:00pm 

ND 

FRIDAY, 22 MAY, 2015 

FUNERAL SERVICE 

at Catholic Church 

of the Assumption, 

Falomo, 

Ikoyi Lagos 

Time:10:00am 

Interment follows at the Ikoyi Cemetery 

S U R V I V E D BY 

WIFE- 

Lady Gladys Yemisi Da-Silva 

CHILDREN- 

Lanre & Kunle Ajayi 

Tope & Adam Goldstein 

Femi Da-Silva 

GRANDCHILDREN- 

Siji Ajayi 

Keji Ajayi 

Kayode Goldstein 

Dara Goldstein 

Brothers, Sisters, Nieces, Nephews and Cousins 

LANRE DA SILVA- AJAYI FOR THE FAMILY

Wednesday May 20, 2015 

TRUTH & REASON 

Price: N150 

MISSILE 

CHRSJ to Labour Leaders 

“Union leaders in the country have derailed from their mandate by always using 

their platforms for selfish aggrandizement. They are always searching for worldly 

materials during their tenure of office and there should be an attitudinal change 

of the labour leaders in order to regain the lost glory of the labour union in the 

land.” The Centre for Human Rights and Social Justice (CHRSJ) accusing labour 

leaders of fighting for their selfish interest at the expense of the collective interest 

of the workers. 

TONY O.ELUMELU 

GUEST COLUMNIST 

Entrepreneur-led Devt as Model 

Too many policymakers think in 

terms of traditional aid when 

they think of support for Africa 

and the developing world. I think 

of Shadi Sabeh. Shadi is a young 

man from Sokoto in northern Nigeria – a 

region currently struggling with a lack of 

opportunity and economic engagement, 

especially for the youth. Shadi might well 

have become mired in frustration, but instead 

leveraged his entrepreneurial drive to start 

an education business in Sokoto that already 

employs over 100 people. 

As the recipient of the Tony and Awele 

Elumelu Prize for Economics from Usman 

Dan Fodiyo University, Sokoto, Nigeria, I 

took him with me this week as my guest 

to a White House event hosted by President 

Barack Obama, and to a lecture I delivered 

on ‘Entrepreneur Led Development: A New 

Development Model for Africa’ at Georgetown 

University’s McDonough School of Business. 

In so doing, he served as a model for the most 

promising approach for promoting growth 

in Africa and creating stability and security 

everywhere. 

What Shadi’s story tells us is simple: 

Entrepreneurship is the most effective way to 

establish true prosperity. Only entrepreneurship 

can create sustainable wealth – the wealth 

that comes from employment and ownership, 

and that results in thriving markets and a 

healthy society. 

Only entrepreneurship can create opportunity 

where none seemingly exists. 

To understand why this is so critical, 

consider: By 2020, 122 million Africans will 

enter the labour force. The number of new 

jobs that must be created to accommodate 

this demographic explosion is enormous. 

Added to this are tens of millions currently 

unemployed or underemployed, making the 

human and economic consequences nearly 

too large to imagine if job creation is not 

seen as a priority. 

This demographic explosion can spell an 

economic boom or doom for the continent. 

Traditional aid and traditional extraction 

focused investment cannot provide employment 

for the millions of young Africans entering 

the job market every year – any more 

than they can provide for the continent’s 

massive needs for reliable power generation, 

housing, transportation and financial services 

infrastructure. Entrepreneur-led job creation 

is necessary to overcome these challenges. 

This realisation represents a fundamental 

change. Traditionally, in Western societies, 

the concept of African development has been 

linked to foreign aid. Aid-based approaches 

have much to recommend them – they have 

improved untold millions of lives across the 

continent. 

But speaking as an African who is grateful 

for the lifesaving anti-retrovirals that have 

saved so many of our people, the vaccines, 

the emergency food assistance and the debt 

relief provided to my fellow African citizens, 

I believe that it is the economic opportunity 

side of the development coin that will have 

more catalytic impact in driving development 

on the African continent. 

Job creation is at the heart of this process. 

Each job means the chance to pull a family 

President-elect, Muhammadu Buhari 

permanently out of poverty, a wider tax revenue 

base for African governments, a household 

that can buy goods and services created by 

African businesses and greater social stability 

because minds are constructively engaged. 

The result is a healthy middle class that drives 

the growth of infrastructure, housing and 

financial inclusion. And financial inclusion 

leads to a safer, more stable world. 

Such a private-sector driven transformation 

is already in progress. African companies 

like Dangote Cement, South African 

telecommunications firm MTN and the United 

Bank for Africa, which I chair, are creating 

hundreds of thousands of jobs across Africa, 

working to provide essential services like 

mobile phones, infrastructure and banking 

while integrating the continent. 

Most of these companies – like others in 

Africa and around the world – were created 

by individual African entrepreneurs. If we are 

to meet the challenge of creating jobs for the 

millions of Africans entering the workforce 

every year – and the millions who cannot 

find work today – we must support today’s 

entrepreneurs by creating policies that improve 

Job creation is at the 

heart of this process. 

Each job means the 

chance to pull a family 

permanently out of 

poverty, a wider tax 

revenue base for 

African governments, 

a household that can 

buy goods and services 

created by African 

businesses and greater 

social stability because 

minds are constructively 

engaged 

the enabling environment, so that millions 

of these potential job creators can succeed. 

I call this idea – that the private sector has a 

profound role to play in Africa’s development 

– Africapitalism. Africapitalism means that 

we cannot leave the business of development 

up to our governments, donor countries and 

philanthropic organisations. We must instead 

rely on and empower African businesses – with 

entrepreneurship as its driving force. 

Africa is rich in entrepreneurial energy and 

talent. Many African entrepreneurs are already 

running home-grown businesses and have 

deep insights into local consumer demand; 

they can spot unique gaps in the market for 

specific products and services. These are the 

people who can fuel Africa’s future, but who 

often lack the capital, training and support to 

take their small businesses to a national or 

regional scale. In Nigeria alone, 95 per cent 

of start-ups fail in the first year, largely due 

to regulatory and infrastructure issues. But 

many more of them can succeed with the right 

support and the right enabling environment. 

I have so much belief in the potential of 

nascent and budding African entrepreneurs that 

I have committed $100 million to support them 

directly. The Tony Elumelu Entrepreneurship 

Programme (TEEP) is designed to identify 

1,000 African entrepreneurs every year over 

the next decade and provide them with much 

needed training, mentoring, financing, and 

networking. 

The initial reaction to the Tony Elumelu 

Entrepreneurship Programme shows the 

energy behind African entrepreneurship. For 

the first 1,000 available slots, we had over 

20,000 applicants from 54 African countries 

and territories. The winners represent 52 

African countries and territories as well as 

a multitude of value-adding sectors ranging 

from agriculture to education to entertainment 

to technology. 

But the Tony Elumelu Entrepreneurship 

Programme alone cannot transform Africa. 

Political leaders, business leaders and 

philanthropists must embrace entrepreneur-led 

development on a wide scale. I appreciate the 

role that President Obama and President Paul 

Kagame of Rwanda, as well as entrepreneurs 

and philanthropists like Jeff Skoll, the Omidyars 

and Richard Branson, have played in supporting 

entrepreneurship as a development path for 

Africa. 

To those leaders I say, “thank you” – for 

supporting the transformation of Africa by 

supporting African entrepreneurs. To the rest 

I say, “Will you join me?” My commitment 

to entrepreneurship is unbounded. I count 

myself among those who believe that five 

entrepreneurs transformed the U.S. into what 

it is today – John D. Rockefeller, Cornelius 

Vanderbilt, Andrew Carnegie, Henry Ford 

and J.P. Morgan. Now it is Africa’s turn. But 

I myself can only do so much. Let us work 

together to support Africa’s entrepreneurs 

– Shadi Sabeh and millions like him – and 

secure Africa’s future. 

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . 

All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 

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