BusinessDay 25 Mar 2018

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12 C002D5556 Sunday 25 March 2018 Feature Why peace is returning to Eleme after N14bn equity disbursement crisis IGNATIUS CHUKWU The Eleme local council area that is host to world class Eleme Petrochemicals Limited (EPCL), now Indorama Eleme Petrochemicals Limited (IEPCL), near Port Harcourt, is now in a moment of calm and peace. This is after some months of intra-community violence by warring land-owning communities fighting over how the first batch of N14Bn equity remittance from their 7.5 percent shares in the company was shared. The Federal Government had experimented new community involvement in mega corporations by ceding 7.5 per cent during privatisation to the Eleme land owners. It took the community about four years to acquire the 375,000 units of shares that make 7.5 per cent by paying the about N3Bn equity fee in 2012 through a facility from Satnbic IBTC Plc through an investment company, Elano Investment Limited after an agreement on how to manage and share out the equity. The taste of the first fruit brought several troubles mostly between land owners who dragged over rights owners as well as wars against Elano by those who wanted the investment company out for communities to collect the dividends directly. Accusations and counter accusations flew in all directions with houses being burnt and some persons running into exile for safety. Many court cases also flew about; some civil, some criminal in nature. In 2006, 75 percent equity of Eleme Petrochemical Limited was sold to Indorama Consortium Ltd, the present Core Investor of the Company, for $225m while 10 per cent was sold to the NNPC Pension Fund for $30m. Following this, the company was handed over to its new owners on October 26, 2006. In 2009, the National Council on Privatisation (NCP) graciously ap- Governor Wike Glory Edozien proved the sale of 7.5 percent to the community and 2.5 percent of the remaining government’s 15 percent reserved equity in the company to the staff of the company, leaving a balance of five per cent with the BPE on-behalf of the Federal Government of Nigeria (FGN). Rivers State as a government also has 10 per cent. The endless crisis attracted many interventions including that from the Rivers State government led by Gov Nyesom Wike and many meetings were held. Today, peace seems fast on the way back with most of the issues resolved and huge sums passing to owners. In an exclusive interview with the chairman of Elano, a chief, Goma Okanje, the man behind the successful acquisition of the 7.5 per cent shares explained the steps to peace. “We thank God for the peace we see now in Eleme. It is the dawn of truth and reason. The violent crisis was due to misinformation and matters in court that delayed disbursement of dividends to owners thereby causing frustration. The We did 15km length in roads. Praises came but it attracted hostility. They went to court without documents. PH High Court just threw one out, saying a trusteeship cannot do business since the matter is about equity holding. The court said Elano entered into legitimate agreement. Governor also appealed to all parties to sheath their swords tained, Okanje added; “By human nature, we can only do our best and leave the rest to God. We will continue to uphold the right things and urge our people to reject falsehood and reject those who peddle false information. They are not doing it for the masses but for their matters in court were not with Elano but community against community on rights to land that determine what each community gets. Now, we have explained the issues time and time again. I think some people wanted to make political gain out of the situation but truth has come out and peace is coming back. The money that was being held back due to the matter in court has been released because the matter has been dispensed. People are now in possession of their own shares and so tension is down.” On how the peace can be susselfish interests. So, our appeal to our people is for them to shun such peddlers and find out the truth of any matter in doubt. Our offices are open for facts.” Giving insight into the costs of the crisis, he said the tension had led to halting of many other things especially the 2016 AGM decision to register two subsidiary companies to play deeper in the investment world to raise funds when the equity may not yield enough. “We have been striving to bring back peace because without it, you cannot achieve any other major thing. We are trying to resolve all burning issues first. We are on course.” The chairman who declined to mention further amounts so far received from Indorama after the initial N14Bn, said; “My last word would be for my Eleme people generally to toe the line of peace. This is an investment that is one in a million. We have lived in Eleme for ages but we have not seen this opportunity despite many companies operating Eleme land. No person has come up with this kind of vision. Before now, it was about handouts; one classroom block, one this, one that, but this is different. “People from far are asking us to give them the template to improve their own communities considering the volatility in the Niger Delta. We have a good plan. All we need is for everybody to toe the line of peace. If you don’t have the truth, you come for information and stop relying on misinformation. We have media unit to dispense up to date information. Our people are advised to maintain peace and ask questions. There is peace in Aleto now because they have been able to access their money in the bank over the years.” Road to peace Giving further background to the return of peace to Eleme town, the head of media and corporate communications of Elano, Udeme Obot, said Elano was totally misunderstood along the line because gullible people were at work; politicians threw their intrigues behind it. He said the persons behind the crisis made the people believe that their dividends from the equity were embezzled by Elano. Hostilities thus began, leading to burning of houses and destruction of property. He said some groups demanded the exit of Elano as some persons said they no-longer wanted to see Elano. “Truth is, apart from Agbonchia, Akpajo and Aleto with internal disputes, other communities in Eleme were collecting their allocations. It was Elano that raised N2.925Bn from Stanbic IBTC Bank to purchase the 375,000 units of shares (7.5 per cent) allotted to Eleme landowners as far back as 2009. The host communities thereafter mandated Elano to do this eight per cent. When this was eventually achieved, it was a big time celebration because Elano succeeded where all others failed; got the loan, bought the shares, and became the first host community to be equity shareholders in any company in the oil region. But, there was huge doubt that failure was certain but Elano succeeded.” According to him, the Eleme communities enjoyed a lot of goodies. On projects and programmes so far: “We found the trick multinationals use to deny host communities jobs; lack of skills. So we contacted the British Council to get admission for our people. Also we sourced for slots for low-level manpower for skills acquisition (54) through Wider Perspectives limited. All have graduated thus; UK 11; Oron 54; Uniport 11. Health scheme attracted 1030 families in the health insurance.’ On roads; “We did 15km length in roads. Praises came but it attracted hostility. They went to court without documents. PH High Court just threw one out, saying a trusteeship cannot do business since the matter is about equity holding. The court said Elano entered into legitimate agreement. Governor also appealed to all parties to sheath their swords.’ He said enemies of Elano told the youths that Elano was sitting on huge billions of compensation paid to the host- communities by Indorama. This was not the truth at all. It was no compensation, because compensation was paid to the landowner decades back. This one is dividend from equity bought for the community by Elano. Fire and brimstone followed but the court ruled that Aleto is the rightful owner of the land and N6.4billion was theirs.” By the outcome of the crisis and resolutions, Elano is still in business because no blame was found on it. “There are still some few court cases: Eleme court struck out some; PH High Court case struck out. The only case still on is a libel case instituted by Elano against some persons”.
Sunday 25 March 2018 C002D5556 Feature BDSUNDAY 13 Neighbourly deed that gladdens hearts of Gbagada residents ZEBULON AGOMUO For those who have lived in Lagos since the 80s, the name Gbagada is not alien to them. It is also possible to say that the Deeper Life Church located in that area of Lagos State popularised Gbagada. Before the new church building in Gbagada, what stood as the headquarters of the church was a massive ramshackle structure woven together with woods, rods and zinc. The structure itself sat on a reclaimed swamp that once in a while showed its anger by letting out some black debris. In those days, almost every day of the week, anywhere you stood at Oshodi, you would hear commercial bus drivers and their conductors calling passengers “Gbagada church, Gbagada church, Gbagada church”; it was as if there was a church called Gbagada. That was the extent of the popularity of the Deeper Life Church in Gbagada. The influx of worshippers and all manner of vehicles usually caused heavy gridlocks several hours after a service session ended. Despite huge deployment of church workers to help direct traffic, it was always hectic and residents of the area, particularly, those whose houses were located close to the church, did not find the experience funny while it lasted. It was against this backdrop that when the church decided to build an ultra-modern edifice that sits on several acres of land, it met some resistance from neighbours, who genuinely reasoned that such a massive project that would accommodate several thousands of worshippers at a sitting would worsen the traffic situation of the area. As expected, petitions began to fly to Alausa, Ikeja, the seat of power of Lagos State. The church also, being an assemblage of a people with Christ-like mind, knowing the negative implication of such a gargantuan project without adequate plan for traffic management, put on its thinking cap. Pastor William Kumuyi, the general superintendent, a former Mathematics don with the ...Story of Deeper Life’s bridge, car park and traffic lights L-R: William Kumuyi, general superintendent of Deeper Life Bible Church and Wale Oluwo, commissioner for Energy & Mineral Resources, Lagos State, at the commissioning of Oduwaiye Street Bridge, multi-level car park and traffic lights built by the church at Gbagada, Lagos, recently. University of Lagos, being an egghead himself rallied other eggheads in the church to proffer a solution. The result is the projects that have made the worried neighbours to become calm. It has made those who had picked some sharp stones to cast at the church to drop the stones and have rather joined the Hallelujah chorus sounding in their domain on account of the commissioned projects that have been put in place at a huge financial cost to the church to make traffic in the area seamless. The church came up with a link bridge on Oduwaiye Street, constructed by Julius Berger. It also built an ultra-modern four-level underground car park designed to accommodate over 600 vehicles. It was handled by Cappa and D’alberto. There is also an array of traffic lights around the vicinity, positioned in such a way that vehicular movements would be perfectly controlled. Briefing journalists who were on tour of the commissioned projects, Pastor Kayode Dada, the architect, said: “We commissioned three projects on 27 February Pastor Dada 2018. First is the bridge. It was a street before now but because of the terrain we had to seize the opportunity to fly a bridge across. The reason for doing that is that we have the worshippers pass under the bridge so that the community can use the bridge. It is to completely minimise the traffic (both human and vehicular traffic on the area. “Then we commissioned a multi-level car park (four floors) 1 and 3 for cars to take up to 555 cars. The last level is level 4, dedicated to buses. It will take up to 76 buses. Already, the church has procured 50 buses and is still going ahead to procure more.” Dada further said: “We also commissioned the traffic light all around here. It is to control, moderate and direct traffic. There is nowhere in the world you don’t have heavy traffic. As a matter of fact, the number of vehicles they have in New York is maybe three times what you have in Lagos, yet there’s a way you can organise yourself and all that. So, the traffic light will help to control the traffic.” According to him, “The church went into all these to make sure that there is sanity around this place and that those who knew us in the past when Deeper Life was here, the problem with traffic, so we had to show that such will no longer be the case, the church has gone ahead to make sure such does not happen. Everybody in the community here will be comfortable as the church also carries out its activities without obstruction.” Explaining the role played by the Lagos State Government in the project, and expressing gratitude for the collaboration, the Architect said: “Financially, the cost of the bridge, car park and the traffic lights was borne by members of the church. In terms of getting the work done, we need to express our gratitude to the Lagos State Government ministry of transport; physical planning, and works and infrastructure. They really assisted us in getting things done altogether. “We also, want to thank the LASTMA people – the awareness and sensitisation even when the bridge was about to be constructed. It was organised jointly by the agency and the church to redirect the traffic, even while the construction was going on. Up till now, they are still there monitoring traffic around here.” Ifeanyi Emmanuel Okoye, premises manager, said that members of the community were elated, as the as development in any area opens up such a community. On the evangelistic implication of the projects, Okoye admitted that without consciously going into preaching, what the church has done was capable of leading souls to Christ. “By building infrastructure in this area, have we done a good thing? When you do good and people are impressed by it, can it make them to begin to enquire as regards the spirit behind it? Can it touch their soul? So, is it part of evangelism? So, by extrapolation you can say that if doing good will help evangelism and you acknowledge that this is good, then you can answer whether or not it is evangelism,” he said. “It is part of good neighborliness. You do whatever is in your power to ensure that you are not a nuisance to those around you. I will think that as a church that practises what it preaches, the Bible says live peaceably with all men, it has put up the projects as part of good neighbourliness,” Okoye further said. A commercial bus driver told BDSUNDAY on the commissioned bridge, ‘I live in this area. We are happy with what this Church has done. Quote me, the angels are happy also. This place is like London.” A young man in his early 30s was seen posing and taking selfie, he simply told our reporter, “Man, this place has become something else. Money is good ooo.”
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