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BusinessDay 11 Apr 2018

Wednesday

Wednesday 11 April 2018 40 BUSINESS DAY C002D5556 Live @ the Stock exchange Prices for Securities Traded as of Tuesday 10 April 2018 Company Market cap(nm) Price (N) Change Trades Volume Company Market cap(nm) Price (N) Change Trades Volume PRICES FOR MAIN BOARD SECURITIES (Equities)

Wednesday 11 April 2018 Abacha loot: Adeosun refutes reports on over $16m payment to lawyers HARRISON EDEH, Abuja Nigeria’s minister of finance, Kemi Adeosun, has refuted claims that payment of over $16 million was made to lawyers working with the Federal Government on the restitution of Abacha’s loot being facilitated by the Swiss government. Adeosun, refuting the claim in a statement issued by Oluyinka Akintunde, her media assistant on Tuesday, refuted the claim in some section of the media that fees were paid to two lawyers for the recovery of Abacha funds. Adeosun said in the statement, “The attention of the Honourable Minister of Finance, Kemi Adeosun, has been drawn to false media reports of a “strongly-worded letter to the President” objecting to the payment of $16.9 Buhari seeks Senate’s approval for 26 nominees OWEDE AGBAJILEKE, Abuja President Muhammadu Buhari has sought the approval of Senate for the confirmation of appointment of 26 nominees. The nominees include: 23 federal commissioners for the National Population Commission (NPC), two non-legal practitioners as members of the Federal Judicial Service Commission and one national commis- CHANGE OF NAME I, formerly known and addressed as Daniel Wills Osagie now wish to be known and addressed as Daniel Osagie. All former documents remain valid. General Public please take note. CONFIRMATION OF NAME This is to inform the general public that Edefu Ikenna Azubuike and Onwunabon Ikenna Azubuike refers to same and one person. All former documents bearing any of the two names remain valid. General public please take note. CHANGE OF NAME I, formerly known and addressed as Mrs Lois Ifeyinwa Onori now wish to be known and addressed as Miss Lois Ifeyinwa Bartholomew. All former documents remain valid. General Public please take note. CHANGE OF NAME I, formerly known and addressed as Miss Ndidi Racheal Nkonyenme now wish to be known and addressed as Mrs Obidalo Racheal Nkonyenme. All former documents remain valid. General Public please take note. CORRECTION OF NAME This is to inform the general public that my name was wrongly written as Ezejimadu Ugochukwu instead of my correct name which is Ezeji Ugochukwu Marcellinus. All banks and genral public please take note. million fees to two lawyers for the recovery of Abacha funds.” The minister dissociated herself and the Federal Ministry of Finance from a media report in the said reports that she described as misleading, stating, “I had at no time written any letter to the President or any member of the Federal Executive Council (FEC) on the payment of lawyers for the Abacha recovery.” Also, Adeosun refuted the flawed media reports of controversy surrounding the Abacha recovery, disclosing that $322,515,931.83 was received into a Special Account in the Central Bank of Nigeria on December 18, 2017, from the Swiss Government. Clarifying further, she said: “For the avoidance of doubt, there is no controversy concerning the recovery of the Abacha monies from the Swiss Government.” constitutes health hazards to millions of residents. In a bid to address this challenge, the government last year finalised a deal with Visionscape Sanitation Solutions to collect and manage domestic wastes to the exclusion of PSP operators who, before the advent of Visionscape, collaborated with Lagos Waste Management Authority (LAW- MA) to collect and dispose of wastes in the state. The exclusion drew flaks from the operators who went to court to challenge the action of the government. The court subsequently gave the parties the option of out of court settlesioner for the Independent National Electoral Commission (INEC). The requests were contained in three separate letters read by Senate president, Bukola Saraki, on the floor of the upper legislative chamber on Tuesday. The Senate had embarked on two-week Easter break on March 29, 2018. The NPC nominees include: Nwanne Nwabuisi (Abia State), Clifford Zirra (Adamawa), Chidi Ezeoke (Anambra), Isa Buratai (Borno), Charles Ogwa (Cross River), Richard Odibo (Delta), Okereke Onuabuchi (Ebonyi), Olusegun Aiyejina (Edo), Ejike Ezeh (Enugu), Abubakar Danburam (Gombe), Uba Nnabue (Imo), and Abdulmalik Durunguwa (Kaduna). CHANGE OF NAME I, formerly known and addressed as Akinlosotu Kehinde Precious now wish to be known and addressed as Adeyosoye Kehinde Precious. All former documents remain valid. General Public please take note. CONFIRMATION OF NAME This is to inform the general public that Juliet Olisa Akpan, Juliet Oluwakemi Ada-Obi Olisa and Juliet Oluwakemi Akpan refers to same and one person. All former documents bearing any of the two names remain valid. General public please take note. CHANGE OF NAME I, formerly known and addressed as Miss Adefeye Folashade Omowunmi now wish to be known and addressed as Mrs Fadele Folashade Omowunmi. All former documents remain valid. General Public please take note. CHANGE OF NAME I, formerly known and addressed as Godwin Obinna Felix- Onuwudiuruba now wish to be known and addressed as Godwin Obinna Felix-Ubah. All former documents remain valid. General Public please take note. C002D5556 BUSINESS DAY 41 NEWS Economy, Dangote Group struggling to get talents in finance -Dangote CHUKA UROKO Nigerian economy and big ticket businesses like Dangote Group are struggling to get talents in finance, especially with the rapid changes in business and technology, Aliko Dangote, president/chief executive of Dangote Group, says. Dangote Group has a revenue projection of over $30 billion in 2020, which underpins an increasing need to have people with business agility to deal with changes in business models, a situation, Dangote says, poses more challenges to his company. The business mogul, who played host to a visiting team from the Association of Certified Chartered Accountants PSPs join Visionscape as contractors to tackle wastes in Lagos JOSHUA BASSEY Visionscape, the metropolitan waste manager Lagos State signed a deal with to collect and manage wastes, is opening the space for Private Sector Participants (PSPs) as contractors to jointly tackle the challenge of wastes in the state. Lagos, a city with an estimated population of 21 million people, is said to be generating about 13,000 metric tons of waste daily. But the ineffective manner this huge waste is being managed has continued to pose a challenge to the government and residents, as it (ACCA) led by Helen Brand OBE, told the visitors that his company did not have enough ACCA professionals in its employ. Dangote, who received an ACCA-award in recognition of his continuing support as a key employer of ACCA members, acknowledged the relevance of its members, pointing out that an ACCA member with an entrepreneurial mindset was more solution-driven than others in similar profession. The ACCA chief executive, who acknowledged Dangote’s concerns, told him about the results of the ‘ACCA employer-led global research, social mobility, purpose and the profession,’ which revealed that social mobility is transforming the potential talent pool for professional accountants. Brand OBE highlighted the seven quotients developed from ACCA’s research titled ‘Professional Accountants: The Future’ and how the ACCA qualification ensured the sustainability of these skills through the recent changes in the qualification and its association’s work around policy development through its professional insights. Taiwo Oyedele, partner/ head of tax, West Africa, PwC, affirmed that policy contribution was even more practical with business owners and entrepreneurs, adding that the highest risk of doing business was inconsistency of government policies. But Dangote noted that the future was bright globally, assuring that he would continue to work towards wealth creation, as the future in Africa was huge. He disclosed that the profitability of Dangote Group doubled during recession due to the urgency for cost effectiveness that was created, and was considering doing more business outside Africa from 2020, as the African environment tended to pose barriers for businesses. According to Dangote, “developing capabilities is critical to the growth of businesses and the economy in Nigeria and the future is the small and medium (SMEs).” Brand OBE highlighted further the ‘Professional Accountants and The Future’ follow-up research titled ‘Generation Next,’ with particular emphasis on the finding that 81 percent of over 18,000 young professionals in over 150 countries saying they want to own their businesses at some point. ment. Findings by BusinessDay reveal that although over 200 trucks and machinery had been brought in since Visionscape sealed the deal, the company has yet to fully develop capacity in terms of manpower and equipment to collect waste from residences. Checks show that many areas of the state are still replete with refuse spilling over waste bins placed in street corners and junctions. Kehinde Bamigbetan, commissioner for information and strategy, confirmed to journalists, on Monday, an arrangement whereby the PSPs were joining Visionscape in the implementation of the Cleaner Lagos Initiative (CLI) of government. “With this, the state is getting cleaner,” Bamigbetan said, while responding to question bordering on the waste situation. Also affirming this, John Irvine, managing director/ CEO of Visionscape, said existing PSPs willing to work with his company were being engaged as Waste Collection Operators (WCOs). According to Irvine, the WCOs will be working directly for Visionscape as contractors; they will be monitored and paid by Visionscape.

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